# EDGAR Filing Document

**Accession Number:** 0001804189
**File Stem:** 0001213900-23-004876
**Filing Date:** 2023-1
**Character Count:** 2649746
**Document Hash:** 859410635f19000c2a81c4f3177cbfd4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-004876.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001213900-23-004876

**CONFORMED SUBMISSION TYPE**: S-1

**PUBLIC DOCUMENT COUNT**: 47

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T1V, Inc.
- **CENTRAL INDEX KEY:** 0001804189
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **IRS NUMBER:** 462949524
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269391
- **FILM NUMBER:** 23548799

**BUSINESS ADDRESS:**
- **STREET 1:** 5025 WEST WT HARRIS BLVD
- **STREET 2:** SUITE A
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28269
- **BUSINESS PHONE:** 704-594-1610

**MAIL ADDRESS:**
- **STREET 1:** 5025 WEST WT HARRIS BLVD
- **STREET 2:** SUITE A
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28269

**As filed with the Securities and Exchange Commission on January 24, 2023.** 

**Registration No. 333-** 

#### UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>Washington, D.C. 20549

#### ______________

#### FORM S-1<br>REGISTRATION STATEMENT<br> UNDER <br>THE SECURITIES ACT OF 1933

#### ______________

#### T1V, INC .<br> (Exact name of Registrant as specified in its charter)

#### ______________

---

| | | |
|:---|:---|:---|
|  **Delaware** | **7370** | **46-2949524** |
|  (**State or other jurisdiction of <br>incorporation or organization)** | **(Primary Standard Industrial<br>Classification Code Number)** | **(I.R.S. Employer<br>Identification Number)** |

---

#### 5025 West WT Harris Boulevard, Suite A<br>Charlotte, NC 28269<br> (704) 594-1610<br> (Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices)

#### ______________
**Michael Feldman<br>President and Chief Executive Officer<br>T1V, Inc.<br>5025 West W.T. Harris Blvd, Suite A<br>Charlotte, NC 28269<br>(704) 594-1610<br>(Name, address, including zip code, and telephone number, including area code, of agent for service)**

***Copies to:***

---

| | |
|:---|:---|
|  **Richard I. Anslow, Esq.**<br> **Scott M. Miller, Esq.**<br> **Ellenoff Grossman & Schole LLP**<br> **1345 Avenue of the Americas**<br> **New York, New York 10105**<br> **(212) 370**-1300 | **Ross Carmel, Esq.**<br> **Philip Magri, Esq.**<br> **Carmel, Milazzo & Feil LP**<br> **55 West 39**<sup>th</sup> **Street, 18**<sup>th</sup> **Floor**<br> **New York, New York 10018**<br> **(212) 658**-0458 |

---

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

<u> Large accelerated filer </u>   <u> ☐ </u>   <u> Accelerated filer </u>   <u> ☐ </u> <br> <u> Non-accelerated filer </u>   <u> ☒ </u>   <u> Smaller reporting company </u>   <u> ☒ </u> <br>         <u> Emerging growth company </u>   <u> ☒ </u>

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, as amended, or until the Registration Statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.**

------

[**Table of Contents**](#TOC001)

**The information in this prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and we are not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted.**

---

| | |
|:---|:---|
|  ***PRELIMINARY PROSPECTUS*** | ***Subject to Completion Dated January 24, 2023*** |

---

#### T1V, INC.

#### 3,203,884 Units

#### Each Unit Consisting of One Share of Class A Common Stock and One <br>Warrant to Purchase One Share of Class A Common Stock

#### _______________________
This is a firm commitment underwritten initial public offering (the "Offering") by T1V, Inc., a Delaware corporation ("T1V," the "Company," "we," "us" or "our") of 3,203,884 units, each unit consisting of one share of Class A Common Stock, par value $0.001 per share ("Class A Common Stock"), and a warrant to purchase one share of Class A Common Stock ("Investor Warrants"). Prior to this Offering, there has been no public market for our Class A Common Stock or the Investor Warrants.

We currently expect the initial public offering price to be between $4.15 and $6.15 per unit (with our shares of Class A Common Stock being reflected on a post-forward split basis as discussed below). Each whole share exercisable pursuant to the Investor Warrants will have an exercise price per share of $[•], equal to 110% of the initial public offering price. The Investor Warrants will be immediately exercisable and will expire on the fifth anniversary of the original issuance date. The units will not be certificated. The shares of Class A Common Stock and related Investor Warrants are immediately separable and will be issued separately, but must be purchased together as a unit in this Offering. The final offering price of the units will be determined by us and EF Hutton, division of Benchmark Investments, LLC, the representative of the underwriters in connection with this Offering (the "Representative"), taking into consideration several factors as described between the underwriters and us at the time of pricing, including our historical performance and capital structure, prevailing market conditions, and overall assessment of our business. Therefore, the assumed public offering price used throughout this prospectus may not be indicative of the actual public offering price for the units, our Class A Common Stock or the Investor Warrants. See "*Underwriting*."

Following this Offering, we will have two classes of authorized common stock, the Class A Common Stock and Class B common stock, par value $0.001 per share (the "Class B Common Stock"). The rights of the holders of Class A Common Stock and the Class B Common Stock are identical, except with respect to voting and conversion rights. Each share of Class A Common Stock is entitled to one vote per share. Each share of Class B Common Stock is entitled to 10 votes per share and is convertible into one share of Class A Common Stock. The outstanding shares of Class B Common Stock will represent approximately 75% of the voting power of our outstanding capital stock immediately following this Offering.

Our founder, President and Chief Executive Officer, including his affiliates, immediately following this Offering, will hold approximately 32% of the voting power of our capital stock entitled to vote. As a result, investors in this Offering may be unable to materially influence our management or affairs.

The underwriters have an option for a period of 45 days from the date of this prospectus to purchase up to a maximum of 480,582 additional shares of Class A Common Stock and/or up to 480,582 additional Investor Warrants (equal to 15% of the shares of Class A Common Stock and Investor Warrants underlying the units sold in the Offering (the "Over-Allotment Option"). The underwriters have indicated that, in the event they exercise the Over-Allotment Option, to the extent that they exercise the Over-Allotment Option for shares of Class A Common Stock (the "over-allotment shares"), they will purchase none of over-allotment shares from the Company, but will purchase all of the over-allotment shares equally from (i) WH&W Private Market Investment Fund I, LLC (WH&W"), from shares of Series B Preferred Stock, par value $0.001 per share (the "Series B Preferred Stock") owned by WH&W and converted into shares of Class A Common Stock prior to the closing of this Offering, and (ii) T1 Investment, LLC, ("T1 Investment" and collectively with WH&W sometimes referred to hereafter as the "Selling Stockholders") from shares of Series B Preferred Stock owned by T1 Investment and converted into shares of Class A Common Stock prior to the closing of this Offering. John Stein, one of our directors, who will be resigning as a director of the Company, upon the closing of this Offering, is a co-founder of Fidelis Capital, LLC, which is the sub-advisor to WH&W. Christopher McKee, also one of our directors, who will be resigning as a director of the Company, upon the closing of this Offering, is the manager of T1 Investment. All Investor Warrants purchased by the underwriters, pursuant to their exercise of the Over-Allotment Option, will be purchased from the Company. The Selling Stockholders will receive the net proceeds from all sales of their shares of Class A Common Stock, in connection with the Over-Allotment Option, and the Company will not receive any of such net proceeds. The Company will receive the net proceeds from all sales of Investor Warrants to the underwriters, pursuant to their exercise of the Over-Allotment Option. Our allocation of all sales of the over-allotment shares to the sale of the Selling Stockholders' shares of Class A Common Stock is as a result of the Selling Stockholders' indication to us of their need for liquidity. We have obtained the approval of this allocation by the three directors of the Company, who do not have any interest in the allocation of the sale of over-allotment shares to the Selling Stockholders, thereby representing the approval of a majority of the disinterested directors in connection therewith. Please see "Selling Stockholders" on page 116 for further information on the Selling Stockholders.

Unless otherwise noted, the share and per share information in this prospectus reflects a forward stock split of the outstanding common stock of the Company, effective prior to the completion of this Offering, at a ratio of 25-for-1 which was authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which forward stock split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part (the "Split").

Prior to this Offering, there has been no public market for our Class A Common Stock or the Investor Warrants. We have applied to list our Class A Common Stock on the Nasdaq Capital Market ("Nasdaq"), under the symbol "THNK" and the Investor Warrants under the symbol THNKW." No assurance can be given that our application will be approved. If either (i) our Class A Common Stock and the Investors Warrants are not approved for listing on Nasdaq or (ii) we do not receive the approval of our stockholders, including the separate approval of each of the Selling Stockholders, for all of the amendments required to our Certificate of Incorporation in order to complete this Offering, we will not consummate this Offering.

We are an "emerging growth company" as that term is defined in the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, and a "smaller reporting company" as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, as such, have elected to take advantage of certain reduced public company reporting requirements for this prospectus and future filings. See "Summary — Implications of Being an Emerging Growth Company" and "Summary — Implications of Being a Smaller Reporting Company."

**Investing in our securities involves a high degree of risk. Before making any investment decision, you should carefully review and consider all the information in this prospectus including the risks and uncertainties described under "Risk Factors" beginning on page 17.**

---

| | | |
|:---|:---|:---|
|  | **Per Unit** | **Total** |
|  Public offering price | $| <sup>$</sup> |
|  Underwriting discounts and commissions<sup>(1)</sup> | $| <sup>$</sup> |
|  Proceeds to us, before expenses | $| $|

---

____________

(1) We have also agreed to reimburse the underwriters for certain of their expenses and to issue to the representative of the underwriters warrants to purchase 160,194 shares of Class A Common Stock (representing 5% of the number of shares of Class A Common Stock sold in this Offering, excluding any shares of Class A Common Stock sold pursuant to the exercise of the Over-Allotment Option) (the "Representative's Warrants"). See "Underwriting" beginning on page 135 of this prospectus for more information about these arrangements.

As disclosed above, we and the Selling Stockholders have granted to the representative of the underwriters an option to purchase up to a maximum of 480,582 additional shares of Class A Common Stock and/or up to 480,582 additional Investor Warrants (equal to 15% of the shares of Class A Common Stock and Investor Warrants underlying the units sold in the Offering), all of such over-allotment shares to be purchased from the Selling Stockholders and any Investor Warrants to be purchased from the Company at the public offering price, less the underwriting discounts and commissions payable by the Company and the Selling Stockholders, as applicable, to cover over-allotments, if any, at any time, and from time to time, no later than 45 days after the date of this prospectus. We will not receive the net proceeds from shares of Class A Common Stock purchased by the underwriters from the Selling Stockholders in exercising their Over-Allotment Option, but will receive the net proceeds from any Investor Warrants purchased by the underwriters from us in exercising their Over-Allotment Option.

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

Delivery of the shares of the units is expected to be made on or about , 2023.

#### Sole Book Running Manager

#### EF HUTTON

#### division of Benchmark Investments, LLC

#### The date of this prospectus is , 2023

------

[**Table of Contents**](#TOC001)

#### **TABLE OF CONTENTS**

#### Prospectus

---

| | |
|:---|:---|
|  | **Page** |
|  [PROSPECTUS SUMMARY](#T19) | 1 |
|  [SUMMARY OF THE OFFERING](#T18) | 10 |
|  [RISK FACTORS](#T17) | 17 |
|  [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#T16) | 46 |
|  [MARKET AND INDUSTRY DATA](#T15) | 48 |
|  [USE OF PROCEEDS](#T14) | 49 |
|  [DIVIDEND POLICY](#T13) | 51 |
|  [CAPITALIZATION](#T12) | 52 |
|  [DILUTION](#T11) | 57 |
|  [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#T9951) | 61 |
|  [BUSINESS](#T10) | 77 |
|  [MANAGEMENT](#T9) | 92 |
|  [EXECUTIVE COMPENSATION](#T8) | 100 |
|  [CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS](#T7) | 109 |
|  [PRINCIPAL STOCKHOLDERS](#T6) | 112 |
|  [SELLING STOCKHOLDERS](#T20) | 116 |
|  [DESCRIPTION OF SECURITIES](#T5) | 118 |
|  [SHARES ELIGIBLE FOR FUTURE SALE](#T4) | 127 |
|  [MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS OF OUR CLASS A COMMON STOCK](#T9952) | 131 |
|  [UNDERWRITERS](#T99752) | 135 |
|  [LEGAL MATTERS](#T3) | 143 |
|  [EXPERTS](#T2) | 143 |
|  [WHERE YOU CAN FIND MORE INFORMATION](#T1) | 143 |
|  [INDEX TO FINANCIAL STATEMENTS](#T7001) | F-1 |

---

Neither we, nor any of the underwriters, have authorized anyone to provide you with any information or to make any representations other than those contained in this prospectus or in any free writing prospectuses we have prepared. Neither we, nor any of the underwriters, take any responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. We are offering to sell, and seeking offers to buy, shares of the units only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of the units. Our business, financial condition, results of operations and future growth prospects may have changed since that date.

**Through and including , 2023, all dealers effecting transactions in these securities, whether or not participating in this Offering, may be required to deliver a prospectus. This is in addition to a dealer's obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.**

<u>For investors outside the United States</u>: 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 in the United States. Persons outside of the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the shares of our Class A Common Stock and the distribution of this prospectus outside of the United States.

i

[**Table of Contents**](#TOC001)

#### PATENTS, TRADEMARKS AND COPYRIGHTS
We own or have rights to trademarks or trade names that we use in connection with the operation of our business, including, ThinkHub<sup>®</sup>, our corporate names, including T1V<sup>®</sup>, logos and website names. In addition, we own or have the rights to copyrights, trade secrets and other proprietary rights that protect the content of our products and services. This prospectus may also contain trademarks, service marks and trade names of other companies, which are the property of their respective owners. Our use or display of third parties' trademarks, service marks, trade names or products in this prospectus is not intended to, and should not be read to, imply a relationship with or endorsement or sponsorship of us. Solely for convenience, some of the copyrights, trade names and trademarks referred to in this prospectus are listed without their <sup>©</sup>, <sup>®</sup> and™ symbols, but we will assert, to the fullest extent under applicable law, our rights to our copyrights, trade names and trademarks. All other trademarks are the property of their respective owners.

ii

[**Table of Contents**](#TOC001)

#### PROSPECTUS SUMMARY
*This summary highlights selected information contained elsewhere in this prospectus. This summary does not contain all of the information you should consider before investing in our securities. You should read this entire prospectus carefully, including the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our financial statements and the related notes included elsewhere in this prospectus, before making an investment decision. Unless the context otherwise requires, all references in this prospectus to "we," "us," "our," "our Company" and "T1V" refer to T1V, Inc., a Delaware corporation. Unless otherwise indicated, references to our "common stock" include our Class A Common Stock and Class B Common Stock.*

*Unless otherwise indicated, the information in this prospectus assumes the occurrence or non-occurrence (as applicable) of each of the following events:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the filing of our amended and restated certificate of incorporation reclassifying the common stock into Class A Common Stock and Class B Common Stock and adding the right for the holders of the Series B Preferred Stock to the payment of the Series B Dividend (defined below), which has been authorized and approved by our board of directors and is subject to the approval of our stockholders;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the filing of an amendment to our amended and restated certificate of incorporation with respect to the Split and increasing the number of shares of common stock that we are authorized to issue to 150,000,000 shares of Class A Common Stock and, 10,000,000 shares of Class B Common Stock, prior to the issuance of any of the shares of Class B Common Stock, as discussed below, which has been authorized and approved by our board of directors and is subject to the approval of our stockholders;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the filing of a second amended and restated certificate of incorporation, immediately prior to closing of this Offering, (i) removing the designation of our Series A Preferred Stock (as defined below), after the conversion of all of the shares of Series A Preferred Stock into shares of Class B Common Stock, (ii) removing the designation of our Series B Preferred Stock, after the conversion of all of the shares of Series B Preferred Stock into shares of Class B Common Stock, (iii) increasing the number of shares of authorized preferred stock to 10,000,000 shares of blank check preferred stock, and (iv) such other terms as shall be applicable after the completion of this Offering, as discussed below), which has been authorized and approved by our board of directors and is subject to the approval of our stockholders;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the effectiveness of our amended and restated bylaws, which will occur immediately prior to the completion of this Offering;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *with respect to share and per share information, the occurrence of the Split of the Company's common stock at a ratio of 25*-for-1*, as approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *an assumed initial public offering price of $5.15 per unit in this Offering (the midpoint of the price range set forth on the cover page of this prospectus), with a value of $0.125 attributed to each Investor Warrant included in the units;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the reclassification of our common stock into dual class common stock consisting of Class A Common Stock, each share having one vote per share and Class B Common Stock, each share having 10 votes per share;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the reclassification, prior to the completion of this Offering, of all outstanding shares of our common stock into shares of Class A Common Stock;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the payment, upon the completion of this Offering, of the Series B Dividend;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the conversion, immediately prior to the completion of this Offering, of all outstanding shares of the Company's Series A*-1 *Preferred Stock, Series A*-2 *Preferred Stock, Series A*-3 *Preferred Stock, Series A*-4 *Preferred Stock and Series A*-5 *Preferred Stock, (collectively, the "Series A Preferred Stock") into 1,612,250 shares of Class B Common Stock;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the conversion, immediately prior to the completion of this Offering, of all outstanding shares of the Company's Series B Preferred Stock into 1,617,650 shares of Class A Common Stock;*

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the conversion, upon the completion of this Offering, of an aggregate of $3,357,730 in principal amount of certain convertible notes, plus $469,122 of accrued and unpaid interest thereon, as of January 1, 2023, into 1,007,504 shares of Class A Common Stock, plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $879 per day;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the conversion, upon the completion of this Offering, of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock);*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the conversion, upon the completion of this Offering, of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted).*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the conversion, upon the completion of this Offering, of an aggregate of $1,700,000 in original principal amount and accrued interest under by Decathlon Alpha II, L.P. ("Decathlon") pursuant to a promissory note (the "Decathlon Note"), which was not previously convertible, into 338,308 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the conversion, upon the completion of this Offering, of an aggregate of $564,000 in original principal amount and accrued interest under a side letter entered into by the Selling Stockholders with the Company, at the same time as the Decathlon Note (the "Side Letter"), pursuant to which the Selling Stockholders agreed to provide the Company with an advance of $300,000 under the same terms and conditions contained in the Decathlon Note, which amount was not previously convertible, into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the conversion, upon the completion of this Offering, of an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the conversion, upon the completion of this Offering, of an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and James Morris (a "Co*-Founder*") , which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock,* 

[**Table of Contents**](#TOC001)

*included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *the exercise, upon the completion of this Offering, of warrants for an aggregate of 137,400 shares of Class A Common Stock, at an exercise price of $0.004 per share, by Christopher McKee, WH&W and Decathlon.*

#### Our Company
T1V is a visual collaboration company specializing in hybrid collaboration software for enterprise, education, commercial and healthcare markets. Visual collaboration means a system including a computer, a touch screen, and software that enables the user to access a virtual canvas that is not limited by the size of the touch screen. It allows for multiple pieces of content to be placed on the canvas and viewed at the same time by multiple users. It enables multiple users to be able to simultaneously add content to and edit the canvas from multiple locations. The canvas can then be saved and resumed at a future time.

We were founded in December 2007 as a North Carolina limited liability company. Our original concept was to create software allowing group collaborations using large format touch screens in public venues where people could share data on personal computing devices and view and interact with data, images and files. In May 2013, we were converted from a North Carolina limited liability company to a Delaware corporation. From 2008 to 2013, we operated a restaurant to test our software by providing use to our restaurant customers, and also to demo our products to potential customers. By 2012, we had developed earlier versions of our ThinkHub® product and had limited sales of our then-existing products at tradeshows, restaurants and retail locations. In 2016 and 2017, we started greatly expanding sales of our collaboration products, focusing on our current three vertical markets of enterprise, education and hospitals so that by the end of 2018, we were primarily selling products similar to our current product line.

#### Our Mission
Our mission at T1V is to empower teams to collaborate anytime, anywhere. This includes collaboration for people within a large meeting room — or across distributed rooms — when some participants are remote and some are in-room.

#### Our Opportunity
An article titled "Visual Collaboration Platform Market with 17.79% CAGR: Share 2022 Key Growth Drivers, Industry Revenue and Sales Channel, Growing Opportunity and Challenges Forecast by 2027" in the Digital Journal published by TheExpressWire on September 30, 2022, provides that the global visual collaboration market was estimated to be greater than $500 million in 2021 and is expected to grow to more than $1.3 billion by 2027. T1V is listed in this report as one of the 17 prominent visual collaboration companies. During the period from 2021 through 2027, the article projects the visual collaboration market will grow at a combined annual growth rate of 17.79%.

The COVID-19 pandemic (the "COVID 19 Pandemic") caused changes in behaviors in how people work, learn and collaborate. We believe one of these changes was an acceleration in the shift toward hybrid working environments. For example in a March 15, 2022 article published by Gallup Workplace titled "The Future of Hybrid Work: 5 Key Questions Answered With Data", in a survey of remote-capable employees, 53% of such employees anticipated that they will work in a hybrid work environment, in the future. Remote capable employees describes those employees whose current jobs can be done remotely at least part of the time and represents about ½ of the US full time workforce. Hybrid work describes a work environment where more than 10% and less than 100% of an employee's working time is provided remotely. In a June 23, 2022 article published by McKinsey & Company titled "Americans are embracing flexible work — and they want more of it", 58% of all US respondents reported that they have the option to work from home. McKinsey's article refers to a number of other studies indicating that flexible work has grown by anywhere from a third to 10-fold since before the pandemic, such as "How the coronavirus outbreak has—and hasn't—changed the way Americans work," Pew Research Center, December 9, 2020; as well as "Telework during the COVID-19 pandemic: Estimates using the 2021 Business Response Survey," US Bureau of Labor Statistics, Monthly Labor Review, March 2022.

T1V's ecosystem is designed to accommodate hybrid work environments which can support fully in-person meetings, fully remote meetings and hybrid meetings in which some persons attend in person and other remotely. During the period from January 1, 2020 through September 30, 2022, over 90% of our sales were derived from orders for our ThinkHub Room products, of which over 57% were for configurations used in hybrid work environments. The remaining ThinkHub Room products ordered were for configurations used primarily for in-person meetings.

[**Table of Contents**](#TOC001)

During the nine-month period ended September 30, 2022, our revenues have increased more than 70% compared to our revenues during the same period in 2021. This increase was driven primarily by ThinkHub Room sales for use in hybrid work environments.

Nevertheless, our sales to date represent only a small fraction of the total available market for visual collaboration for hybrid use. Of the greater than $500 million market for visual collaboration referenced above, we believe, based on the research and articles referenced above, that a large percentage of this market is for hybrid environments. Therefore, we currently have only penetrated a small percentage of the total available market for visual collaboration products for hybrid usage.

Going forward, we anticipate that our new ThinkHub Cloud product offering (allowing users to access ThinkHub Canvases without purchasing a ThinkHub Room device) will further drive demand for our ThinkHub Platform in hybrid working environments. During the first 9 months of 2022, we invested $350,000 in research and development for our ThinkHub Cloud product. Furthermore, we are planning to use $2 million of the funds raised in this Offering to invest in R&D for ThinkHub Cloud. Further, we plan to use an additional $2 million of the funds raised in this Offering to invest in Sales and Marketing activities for ThinkHub Cloud.

In 2023 and beyond, we believe, based on the research and articles referenced above, that there is and will continue to be a need for hybrid working solutions. We believe that the largest growth in the visual collaboration market over the next few years will be for products that support such hybrid work environments and we have positioned the company to take advantage of this growth through our ThinkHub platform including our ThinkHub Room and ThinkHub Cloud products.

#### Our Products and Services
T1V has patented proprietary software for visual collaboration. The ability of our products to deliver room-based visual collaboration allows for multiple rooms to be linked together as well as hybrid meetings allowing participants that are both in the room and remote to interact in the same canvas.

*ThinkHub*®*

ThinkHub® is our visual collaboration solution for global teams. The software is available as a room-based product (ThinkHub Room) or cloud-based product (ThinkHub Cloud).

ThinkHub Room is T1V's room-based collaboration software product, typically used in a dedicated system by our customers including a computer, software and a large touch screen mounted to a wall. The T1V app is the companion application that users download to their device (laptops, desktop computers, and mobile devices), and is used to connect and share content with a ThinkHub Canvas™. ThinkHub Cloud™ takes the collaborative experience of ThinkHub Room™ and brings it to the user on an individual laptop device. Users can access ThinkHub Cloud™ through the T1V app, where they can create canvases and invite collaborators to join them.

For our target customers, conventional video conferencing and in-room face-to-face meetings are inadequate. For these customers, a higher level of collaboration is needed — visual collaboration. Our products allow for this higher level of engagement and collaboration. While other competitive products allow for in-room visual collaboration, our goal at T1V is to make T1V hybrid and remote meetings close to the level of in-person visual collaboration meetings.

Our collaboration platform includes ThinkHub® collaboration software for global teams and the T1V app — all working cohesively to bring teams together for seamless, intuitive working sessions.

*T1V Story*

T1V Story™ enables organizations to visually tell their story. This is a software solution that takes a brand's assets (logos, color palette, content like images, videos, and PDFs) and reconfigures them into an interactive, touch-based experience. Popular applications within T1V Story™ include an interactive map, timeline, image, and product lines. Each of these applications provides a means for the brand to visually represent their identity and educate its audience on its organization's history, geographic reach, or lineup of products.

[**Table of Contents**](#TOC001)

#### Our Customers
*Enterprise.* Enterprise businesses are large regional, national, or global private organizations. Many enterprise businesses have collaboration needs that are special to such businesses within a multivendor environment. We offer service and support packages, and sell these products primarily through professional audio visual dealers ("Professional AV dealers") and distributors and often in partnership with third-party technology vendors. T1V's enterprise business is comprised primarily of Fortune 500 companies and includes manufacturing firms; construction and engineering businesses; architecture and design firms; energy companies; defense contractors and technology companies.

*Small to Medium Sized Businesses.* Our small-to-medium sized business ("SMB") customers represent a market that is small, but is a growing subset of the enterprise market. These represent organizations with less than 1,000 employees and typically have regional offices. We have developed our ThinkHub Cloud™ and ThinkHub Huddle™ for sales to the SMB market.

*Higher Education.* We target higher education institutions who are looking to outfit their active learning and hybrid classroom environments. Higher education is undergoing enormous changes as it tries to support teaching faculty and staff, and improve the student experience which has been negatively impacted by the COVID-19 Pandemic. The ThinkHub® classroom supports in-room and remote instructors to co-teach curriculum, while also supporting both in-room and remote student participation. We are also able to connect campuses in larger university systems, to ultimately increase access to courses and improve efficiencies across teaching staff. In the classroom, our collaboration solutions enable teachers and students to have more collaborative class sessions. It enables active learning and group-based collaboration amongst students, and is a flexible tool for teachers to use no matter their teaching style. Teachers can prepare canvases and content before class and then share and distribute during and after class.

*Healthcare.* The healthcare market consists primarily of operating rooms and meeting rooms in large hospitals. For this market, we sell products primarily through a partnership we have with a major medical equipment manufacturer (OEM). We sell customized versions of our products to the OEM that are white labeled for sale to the hospitals.

*Our Sales and Distribution*

We sell our products through distributors we refer to as channel partners ("Channel Partners"). The T1V sales team works directly with these regional Channel Partners to identify prospects in order to set up demonstrations. The sales process typically includes a virtual or in-person demonstration from our showroom, called the "T1V Experience Center" and the customer gains a complete understanding of the value and functionality our solutions provide.

#### Our Revenue Model
Our revenue model includes two revenue streams: non-recurring and recurring revenue. Each sale at T1V includes a combination of non-recurring and recurring revenue.

Non-recurring revenue includes hardware and services (including installation, commission, customization and configuration) and the upfront portion of software licenses.

Recurring revenue consists of revenue from our sales of licensing and support agreements. Our licensing and support agreements include software licenses, customer support and ongoing customer success services. Within our recurring revenue, we have two license types: room-based and user-based licenses. Room based licenses are tied to the physical T1V devices (ThinkHub Room™, ThinkHub Huddle™ or T1V Story™). They allow unlimited users to connect and collaborate with the room device. User-based licenses apply to our software applications T1V app and ThinkHub Cloud™. Our T1V app is free to all users; ThinkHub Cloud™ offers three subscription tiers: Free, Pro, and Enterprise.

#### Our Competitors
Our products compete in the communications and collaboration technologies markets with products offered by Cisco Webex, Zoom, LogMeIn, GoToMeeting, as well as bundled productivity solutions providers who offer limited content sharing capabilities such as Microsoft Teams, and Google Workspace. In the rapidly evolving "ideation" market, certain elements of our application compete with Microsoft, Google, Oblong, Multitaction, Bluescape, Mersive, Barco, Nureva and Prysm. Portions of our ThinkHub Cloud™ also compete with products offered by Miro, Mural, Figma and Lucid Software.

[**Table of Contents**](#TOC001)

#### Our Intellectual Property
T1V's core intellectual property is its visual collaboration software platform that allows for multiple users and multiple devices. T1V began developing this software in 2008. T1V was the first company to develop many of the features used in this platform and has obtained several patents and has several patents pending relating to these features.

In addition to the core visual collaboration software platform, T1V also has developed a separate platform that is used for the T1V app. This program allows users to connect to T1V room devices and to ThinkHub Cloud™. It also allows users to view content on a canvas and to share their screen or other documents to a canvas.

T1V is one of only a small number of companies that initially developed visual collaboration in the early 2010's. Furthermore, T1V was one of the first companies to develop an app to allow remote participants to present and view content — both static and live — on a canvas displayed on an in-room device. We were also one of the first companies to incorporate multi-streaming into a visual collaboration platform.

T1V currently holds 16 patents issued in the US, with 15 additional applications pending. These patents cover various aspects of the features of T1V's products including ThinkHub Room™, ThinkHub Cloud™, T1V Story™, and the T1V app. These patents also cover specialized versions of ThinkHub® that are used by universities in classrooms.

Some of our patents and patent applications also cover methods that are essential in order for our systems to function with high levels of performance and helpful at reducing network bandwidth requirements.

"T1V®" and "ThinkHub®" are trademarks registered by us with the United States Patent and Trademark Office ("USPTO"). We currently intend to register certain of our other trademarks with the USPTO, such as ThinkHub Room™, ThinkHub Cloud™, and T1V Story™, after the completion of this Offering. We may also register additional trademarks with the USPTO, in the future, as we create new products and services.

#### Summary Risk Factors
Our business is subject to numerous risks, as more fully described in the section titled "Risk Factors" immediately following this prospectus summary. These risks include, among others:

#### Risks Related to our Business and our Industry
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Although we were formed in 2007, we have a limited operating history with respect to sales of our current collaboration products, which makes it difficult to evaluate our prospects and future results of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have a history of net losses, and we expect to increase our expenses in the future, which could prevent us from achieving or maintaining profitability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We may need additional capital, and we cannot be certain that additional financing will be available on favorable terms, or at all.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have assumed a significant amount of debt. To the extent we are unable to refinance, repay, extend or convert such indebtedness, our operations may not be able to generate sufficient cash flows to meet our debt obligations, which could reduce our financial flexibility and adversely impact our operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue growth and increase in the market share of our products depend on successful adoption of our ThinkHub® product offerings, which requires sufficient sales, marketing, and product development funding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We depend upon the development of new products and services, and enhancements to existing products and services, and if we fail to predict and respond to emerging technological trends and customer's changing needs, our operating result may suffer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We utilize our network of Channel Partners to sell our products and services, and our failure to effectively develop, manage and maintain our indirect sales channels would harm our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We operate in a highly competitive market and many of our competitors have greater financial resources and established relationships with major corporate customers.

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• There is limited market awareness of our services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We may in the future rely on third-party software that may be difficult to replace or may not perform adequately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our network depends upon telecommunications carriers who could limit or deny us access to their network or fail to perform, which would have a material adverse effect on our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our security measures may, in the future, be compromised. Consequently, our products and services may be perceived as not being secure. This perception may result in customers and host curtailing or ceasing use of our products, our incurring significant liabilities and our business being harmed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The loss of our executive officers, especially our Chief Executive Officer, or our inability to attract and retain qualified personnel may adversely affect our business, financial condition and result of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The coronavirus (COVID-19) Pandemic is a continuing serious threat to health and economic well-being affecting our employees, investors, customers, and other business partners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We may not successfully manage our growth or plan for future growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We depend upon one manufacturer and supplier of computer equipment for our ThinkHub Room™ products.

#### Risks Related to Our Intellectual Property
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We may not be able to protect the rights to our intellectual property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our failure to obtain or maintain the right to use certain intellectual property may negatively affect our business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our use of third-party open-source software could negatively affect our ability to offer and sell subscriptions to our platform and subject us to possible litigation.

#### Risks Related to Ownership of Our Class A Common Stock and this Offering
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The dual class structure of our common stock as created in our amended and restated certificate of incorporation has the effect of concentrating voting control with those stockholders who held our stock prior to this Offering, including our executive officers, employees and directors and their affiliates, limiting your ability to influence corporate matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The trading price of our securities may be volatile, and you could lose all or part of your investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Certain recent initial public offerings of companies with public floats comparable to our anticipated public float have experienced extreme volatility that was seemingly unrelated to the underlying performance of the respective company. We may experience similar volatility, which may make it difficult for prospective investors to assess the value of our Class A Common Stock or the Investor Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you purchase the units in this Offering, you will incur immediate and substantial dilution in the book value of your investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Conversion of our convertible debt securities will dilute the ownership interest of our existing and prospective stockholders if such conversion will be at a price lower than the price of our shares sold in this Offering, or may otherwise depress the price of our Class A Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Future sales and issuances of our capital stock or rights to purchase capital stock could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to decline.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We will have broad discretion in the use of net proceeds from this Offering and may invest or spend the proceeds in ways with which you do not agree and in ways that may not yield a return.

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Substantial future sales of shares of our Class A Common Stock and Class B Common Stock could cause the market price of our Class A Common Stock to decline.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.

#### Corporate Information
We were formed as a limited liability company under the laws of the State of North Carolina in December 2007, under the name T1 Visions, LLC. In May 2013, we were converted to a corporation incorporated under the laws of the State of Delaware, under the name T1Visions, Inc. In May 2015, we changed our name to T1V, Inc. Our principal executive offices are located at 5025 West W.T. Harris Boulevard, Suite A, Charlotte, NC 28269. Our telephone number is (704) 594-1610. Our website address is *www.t1v.com*. Information contained on, or that can be accessed through, our website is not incorporated by reference into this prospectus, and you should not consider information on our website to be part of this prospectus.

"T1V" and our other registered and common law trademarks, service marks or trade names appearing in this prospectus are the property of T1V, Inc. Other tradenames, trademarks and services marks use in this prospectus are the property of their respective owners. See "Patents, Trademarks and Copyrights."

#### Implications of Being an Emerging Growth Company
As a company with less than $1.235 billion in revenue during our last fiscal year, we qualify as an "emerging growth company" as defined in the Jumpstart Our Business Startups Act (JOBS Act) enacted in April 2012. An emerging growth company may take advantage of reduced reporting requirements that are otherwise applicable to public companies. These provisions include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• not being required to comply for a certain period of time with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, as amended (the "Sarbanes-Oxley Act");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduced disclosure obligations regarding executive compensation in our periodic reports, proxy statements and registration statements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exemptions from the requirements of holding a stockholder advisory vote on executive compensation and any golden parachute payments not previously approved.

We may take advantage of these provisions until the last day of our fiscal year following the fifth anniversary of the date of the first sale of our Class A Common Stock in this Offering. However, if certain events occur prior to the end of such five-year period, including if (i) we become a "large accelerated filer," with at least $700 million of equity securities held by non-affiliates; (ii) our annual gross revenue exceeds $1.235 billion; or (iii) we issue more than $1.0 billion of non-convertible debt in any three-year period, we will cease to be an emerging growth company prior to the end of such five-year period.

We have elected to take advantage of certain of the reduced disclosure obligations in the registration statement of which this prospectus is a part and may elect to take advantage of other reduced reporting requirements in future filings. As a result, the information that we provide to our stockholders may be different than you might receive from other public reporting companies in which you hold equity interests.

In addition, the JOBS Act provides that an "emerging growth company" can take advantage of an extended transition period for complying with new or revised accounting standards. This provision allows an emerging growth company to delay the adoption of some accounting standards until those standards would otherwise apply to private companies. We have irrevocably elected not to avail ourselves of this exemption, and, therefore, we will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

#### Listing on the Nasdaq Capital Market
In connection with this Offering, we have applied to list our Class A Common Stock and the Investor Warrants on the Nasdaq Capital Market under the symbols "THNK" and "THNKW," respectively. The listing requirements for the Nasdaq Capital Market include, among other things, a stock price threshold. As a result, prior to the effectiveness of

[**Table of Contents**](#TOC001)

our registration statement of which this prospectus is a part, we will need to take the necessary steps to meet Nasdaq's listing requirements, including, but not limited to effectuating the Split. If Nasdaq does not approve the listing of our Class A Common Stock or the Investor Warrants, we will not proceed with this Offering. There can be no assurance that our Class A Common Stock or the Investor Warrants will be listed on Nasdaq.

#### Forward Stock Split
We intend to effect the Split prior to the issuance of any shares of Class B Common Stock and prior to the effectiveness of the registration statement of which this prospectus forms a part and prior to the completion of this Offering, at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part and prior to the completion. The conversion or exercise prices of our issued and outstanding convertible securities, stock options and warrants will be adjusted accordingly. All share and per share information in this prospectus other than in our financial statements and the notes thereto assumes the consummation of the Split, including all references to the outstanding shares of Class A Common Stock, and unless otherwise indicated, all such amounts and corresponding conversion price or exercise price data set forth in this prospectus have been adjusted to give effect to such assumed Split.

#### Series B Dividend
Our board of directors has authorized and approved, and subject to the approval of our stockholders, we will amend our certificate of incorporation, in the form of an amended and restated certificate of incorporation, which will provide for the declaration and payment of a special dividend to the holders of Series B Preferred Stock, by issuing to them an aggregate of 322,161 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January 1, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus) (the "Series B Dividend"). The Series B Dividend will be paid to the holders of our Series B Preferred Stock at the time of their conversion to shares of Class A Common Stock. All of the members of our board of directors will be entitled to receive a portion of the Series B Dividend, since they all own shares of our Series B Preferred Stock. See Certain Relationships and Related Party Transactions beginning on page 109.

#### Implications of Being a Smaller Reporting Company
We are a "smaller reporting company" as defined in the Exchange Act. We may take advantage of certain of the scaled disclosures available to smaller reporting companies until the fiscal year following the determination that our voting and non-voting common stock held by non-affiliates is more than $250 million measured on the last business day of our second fiscal quarter, or our annual revenues are less than $100 million during the most recently completed fiscal year and our voting and non-voting common stock held by non-affiliates is less than $700 million measured on the last business day of our second fiscal quarter.

[**Table of Contents**](#TOC001)

#### SUMMARY OF THE OFFERING

---

| | |
|:---|:---|
|  Units offered | $16,500,000 of units, each unit consisting of one share of Class A Common Stock and an Investor Warrant to purchase one share of Class A Common Stock at an exercise price of $[•] per share (110% of the initial public offering price of the units), which is 3,203,884 units assuming an initial public offering price of $5.15 per unit, which is the midpoint of the range set forth on the cover page of this prospectus. The shares of Class A Common Stock and the Investor Warrants that are part of the units are immediately separable and will be issued separately in this Offering.  |
|  Offering price | Assumed offering price of $5.15 per unit, the midpoint of a price range of $4.15 and $6.15 per unit. |
|  Class A Common Stock offered by us | 3,203,884 shares of Class A Common Stock, assuming an initial public offering price of $5.15 per unit. |
|  Investor Warrants offered by us | Up to 3,203,884 Investor Warrants to purchase up to 3,203,884 shares of Class A Common Stock, assuming an initial public offering price of $5.15 per unit. Each share of Class A Common Stock is being sold together with one Investor Warrant to purchase one share of Class A Common Stock. Each whole share exercisable pursuant to the Investor Warrants will have an exercise price per share equal to $[•], equal to 110% of the initial public offering price per unit, will be immediately exercisable and will expire on the fifth anniversary of the original issuance date. Investor Warrants may be exercised only for a whole number of shares. The shares of Class A Common Stock and the Investor Warrants are immediately separable and will be issued separately, but must be purchased together in this Offering as units. This prospectus also relates to the offering of the shares of Class A Common Stock issuable upon exercise of the Investor Warrants. <br> The Warrants will be issued pursuant to the terms and conditions of a Warrant Agency Agreement among the Company, the Representative and the Warrant Agent. |
|  Over-allotment option | We and the Selling Stockholders have granted the underwriters an option for a period of 45 days from the date of this prospectus to purchase up to a maximum of 480,582 additional shares of Class A Common Stock and/or up to 480,582 additional Investor Warrants (equal to 15% of the shares of Class A Common Stock and Investor Warrants underlying the units sold in the Offering), all of such over-allotment shares to be purchased from the Selling Stockholders and any Investor Warrants to be purchased from the Company at the public offering price, less the underwriting discounts and commissions payable by the Company and the Selling Stockholders, as applicable, to cover over-allotments, if any. We will not receive the net proceeds from shares of Class A Common Stock purchased by the underwriters from the Selling Stockholders in exercising their Over-Allotment Option, but will receive the net proceeds from any Investor Warrants purchased by the underwriters from us in exercising their Over-Allotment Option. |

---

[**Table of Contents**](#TOC001)

---

| | |
|:---|:---|
|  Class A Common Stock to be outstanding after this Offering<sup>(1)</sup> | <br> 8,178,793 shares, regardless as to whether any over-allotment shares are exercised by the underwriters. |
|  Class B Common Stock outstanding before and after this Offering | <br>0 shares, immediately before, and 2,457,638 shares after the Offering. |
|  Forward stock split | The Company intends to effect the Split at a ratio of 25-for-1 prior to the issuance of any shares of Class B Common Stock and prior to the completion of this Offering, and after which all then outstanding shares of common stock will be re-classified as shares of Class A Common Stock. Shares of Class B Common Stock also will be issued upon the exercise of all outstanding shares of Series A Preferred Stock and the conversion of promissory notes held by the Selling Stockholders after giving effect to the Split. |
|  Use of proceeds | We estimate that we will receive net proceeds from the sale of our Class A Common Stock in this Offering of approximately $14,444,337, assuming an initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus, and after deducting underwriting discounts and commissions, and estimated offering expenses payable by us.<br> We currently intend to use the net proceeds of this Offering as follows: (i) $2 million for sales and marketing of ThinkHub Cloud™ product offerings; (ii) $2 million for research and development for our ThinkHub Cloud™ product offerings; (iii) approximately $2.0 million for the repayment of outstanding indebtedness to certain existing creditors (including indebtedness to affiliates, including the Selling Stockholders), including accrued and unpaid interest thereon as well as fees related to conversion of indebtedness into shares of Class A Common Stock upon the completion of this Offering, and (iv) any remaining amount for working capital and general working capital purposes. |
|  | We will not receive any of the net proceeds from shares of Class A Common Stock purchased by the underwriters in exercising their Over-Allotment Option, but will not receive any proceeds from shares of as all of such over-allotment shares will be purchased from the Selling Stockholders. See "Use of Proceeds" on page 49. |

---

[**Table of Contents**](#TOC001)

---

| | |
|:---|:---|
|  Potential additional use of proceeds | We currently intend to refinance approximately $213,000 of outstanding indebtedness, within 30 days after the completion of this Offering. In addition, we have a payroll tax liability of approximately $408,000. In the event that we are unable to refinance all or a portion of such outstanding indebtedness, or we are unable to reach an installment agreement with the IRS, we may be required to use up to an additional $621,000 of the net proceeds from this Offering to repay the outstanding indebtedness and the tax liability. The indebtedness we currently intend to refinance in such timeframe includes: |
|  | &nbsp;&nbsp;&nbsp;&nbsp;• Approximately $213,000 in outstanding indebtedness in repayment of the non-convertible interest on a convertible note to WH&W, an affiliated stockholder of which John Stein, one of our directors, who is resigning as a director of the Company, upon the closing of this Offering, and who is also a Co-Founder of Fidelis Capital, LLC, the investment sub-advisor of WH&W;<br> In addition, we currently have approximately $408,000 in Covid-related Payroll Tax Liability, related to the Employer Social Security Tax Covid Relief Act, and Employee Retention Credits taken before such credits were terminated retroactively by Legislation in November 2021. The Company has been making regular payments while applying for an installment payment agreement with the IRS. In the event that an installment agreement is not granted, the Company would repay the approximately $408,000. |
|  Representative's Warrants | We will issue the Representative the Representative Warrants to purchase up to 160,194 shares of our Class A Common Stock (5% of the shares of Class A Common Stock sold in this Offering, excluding the shares underlying the Over-Allotment Option), less discounts and commissions, as a portion of the underwriting compensation payable to the underwriters in connection with this Offering. These warrants will be exercisable for a four-and-a-half-year period commencing 180 days from commencement of sales of the shares of Class A Common Stock issued in this Offering at an exercise price equal to 110% of the public offering price per unit in this Offering. We have agreed to register the shares of Class A Common Stock underlying the Representative's Warrants in this Offering. See "Underwriting — Representative's Warrants" on page 136 for a description of the Representative's Warrants. |
|  Proposed Nasdaq Capital Market symbol | We plan to apply to list our Class A Common Stock and the Investor Warrants on the Nasdaq Capital Market upon our satisfaction of the exchange's initial listing criteria under the symbols "THNK" and "THNKW," respectively. No assurance can be given that our application will be approved. We will not proceed with this Offering if our Class A Common Stock or the Investor Warrants are not approved for listing on Nasdaq. |

---

[**Table of Contents**](#TOC001)

---

| | |
|:---|:---|
|  Stockholder Approval | We are required to, and intend to, obtain the approval of our stockholders, including the separate approval of each of the Selling Stockholders, to certain amendments to our certificate of incorporation in order to complete this Offering. We will not proceed with this Offering if we are unable to obtain such stockholder approval. |
|  Dividends | We have never declared or paid cash dividends on our common stock. We currently intend to retain all available funds and any future earnings for use in the operation of our business and do not anticipate paying any non-compulsory cash dividends on our preferred stock or common stock in the foreseeable future, if at all. Our board of directors has authorized and approve, subject to the approval of our stockholders, an amendment to our certificate of incorporation to provide for the declaration and payment of the Series B Dividend in shares of our Class A Common Stock upon the conversion of our shares of Series B Preferred Stock in connection with this Offering. Any future determination to declare dividends will be made at the discretion of our board of directors and will depend on our financial condition, results of operations, capital requirements, general business conditions and other factors that our board of directors may deem relevant. See "Dividend Policy." |
|  Lock-up Agreements | We have agreed with the underwriters not to offer for sale, issue, sell, contract to sell, pledge or otherwise dispose of any shares of our Class A Common Stock or securities convertible into shares of our Class A Common Stock (a "Lock-Up") or to file a registration statement relating to the registration of any shares of Class A Common Stock for a period of 180 days following the completion of this Offering, without consent of the representative of the underwriters. In addition, our officers, directors and stockholders beneficially owning 5% or more of our Class A Common Stock have also agreed to a Lock-Up with respect to their shares of Class A Common Stock (excluding the shares of Class A Common Stock that may be sold by the Selling Stockholders to the underwriters pursuant to the underwriters' exercise of their over-allotment option for shares of Class A Common Stock). See "Underwriting" on page 135. |
|  Transfer agent/Warrant Agent | Vstock Transfer, LLC |
|  Risk factors | See "Risk Factors" on page 17 for a discussion of certain factors to consider carefully before deciding to purchase any shares of our Class A Common Stock. |

---

__________

(1) The number of shares of our Class A Common Stock and Class B Common Stock that will be outstanding after this Offering is based on 845,175 shares of our common stock outstanding on January 1, 2023, which will be reclassified as Class A Common Stock, and assumes: (i) the conversion, immediately prior to the completion of this Offering, of all outstanding shares of the Company's Series A Preferred Stock into 1,612,250 shares of Class B Common Stock; (ii) the conversion, immediately prior to the completion of this Offering, of all outstanding shares of the Company's Series B Preferred Stock into 1,617,650 shares of Class A Common Stock; (iii) the payment of the Series B Dividend, pursuant to the issuance of an aggregate of 322,161 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January 1, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus); (iv) the conversion, upon the completion of this Offering, of an aggregate

[**Table of Contents**](#TOC001)

of $3,357,730 in principal amount of certain convertible notes, plus $469,122 of accrued and unpaid interest thereon, as of January 1, 2023, into 1,007,504 shares of Class A Common Stock, plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $879 per day; (v) the conversion, upon the completion of this Offering, of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock); (vi) the conversion, upon the completion of this Offering, of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted); (vii) the conversion, upon the completion of this Offering, of an aggregate of $1,700,000 in original principal amount and accrued interest under the Decathlon Note, which was not previously convertible into 338,308 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (viii) the conversion, upon the completion of this Offering, of an aggregate of $564,000 in original principal amount and accrued interest under the Side Letter, which was not previously convertible, into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (ix) the conversion, upon the completion of this Offering, of an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (x) the conversion, upon the completion of this Offering, of an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xi) the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and the Co-Founder, which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xii) the exercise, upon the completion of this Offering, of warrants for an aggregate of 137,400 shares of Class A Common Stock, at an exercise price of $0.004 per share, by Christopher McKee, WH&W and Decathlon; and (xiii) the occurrence of the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part; and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2,457,638 shares of Class A Common Stock into which shares of Class B Common Stock are convertible, at any time, at a conversion rate of one share of Class A Common Stock for each share of Class B Common Stock converted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,225 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.0004 per share;

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 49,035 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $5.025 per share (assuming an initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus) and giving effect to the termination of warrants which would have been exercisable for 456,567 shares of Class A Common Stock, with a weighted average exercise price of $5.025, if such warrants had not been cancelled prior to the consummation of this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 736,375 shares of our Class A Common Stock issuable upon the exercise of options to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.96 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 800,000 shares of our Class A Common Stock reserved for future issuance under our 2023 Equity Incentive Plan ("2023 Plan"), which will become effective in connection with this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,203,884 shares of our Class A Common Stock issuable upon the exercise of the Investor Warrants to be issued upon consummation of this Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 160,194 shares of our Class A Common Stock issuable upon the exercise of the Representative's Warrants to be issued upon consummation of this Offering which are exercisable for up to 5% of the aggregate number of shares of Class A Common Stock sold in this Offering, excluding any Representative's Warrants sold pursuant to the exercise of the Over-Allotment Option.

Except as otherwise indicated, all information in this prospectus assumes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the public offering price per unit is $5.15, which is the midpoint of the price range set forth on the cover page of this prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no shares of common stock have been issued pursuant to any outstanding shares of preferred stock, warrants or options;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no shares of common stock have been issued pursuant to the Over-Allotment Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no shares of common stock have been issued pursuant to the Representative's Warrants; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• no awards have been granted under the 2022 Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the occurrence of the Split at a ratio of 25-for-1.

[**Table of Contents**](#TOC001)

#### SUMMARY FINANCIAL DATA
The following tables set forth a summary of our historical financial data as of, and for the periods ended on, the dates indicated. The summary statements of operations data for the nine months ended September 30, 2022 and 2021 and the summary balance sheet data as of September 30, 2022 are derived from our unaudited interim financial statements and related notes thereto that are included elsewhere in this prospectus. The unaudited interim financial statements have been prepared on the same basis as the audited financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, that are necessary for the fair presentation of our interim financial statements. The summary statements of operations data for the years ended December 31, 2021 and 2020 and the summary balance sheet data as of December 31, 2021 and 2020 have been derived from our audited financial statements and related notes thereto included elsewhere in this prospectus.

The following summary financial information should also be read in connection with, and is qualified by reference to, the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" included elsewhere in this prospectus. Our historical results are not necessarily indicative of results to be expected in any future period.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **Statements of Operations Data** | **For the <br>nine months <br>ended <br>September 30, <br>2021** | **For the <br>nine months <br>ended <br>September 30, <br>2022** | **For the <br>year ended <br>December 31, <br>2021** | **For the <br>year ended <br>December 31, <br>2020** |
|  Revenue | $6314829 | $11061723 | $9159815 | $8335918 |
|  Loss from operations | $(2196718) | $(2272289) | $(2971637) | $(1558246) |
|  Other (income) expense | $(873791) | $1325476 | $735196 | $991867 |
|  Net (loss) income | $(1322927) | $(3597765) | $(3706833) | $(2550113) |

---

---

| | | | |
|:---|:---|:---|:---|
|  **Balance Sheet Data** | **As of <br>September 30, <br>2022** | **As of <br>December 31, <br>2021** | **As of <br>December 31, <br>2020** |
|  Cash | $142928 | $713462 | $537200 |
|  Total assets | $5365897 | $4684826 | $3882545 |
|  Total liabilities | $26635361 | $22450066 | $17992047 |
|  Total stockholders' (deficit) | $(31472897) | $(27514260) | $(23221275) |

---

[**Table of Contents**](#TOC001)

#### RISK FACTORS
*Investing in the units involves a high degree of risk. You should consider carefully the risks and uncertainties described below, together with all of the other information in this prospectus, including the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our financial statements and related notes, before making a decision to invest in the units. Our business, results of operations, financial condition and prospects could also be harmed by risks and uncertainties that are not presently known to us or that we currently believe are not material. If any of the risks actually occur, our business, results of operations, financial condition and prospects could be materially and adversely affected. Unless otherwise indicated, references to our business being harmed in these risk factors will include harm to our business, platform, reputation, brand, financial condition, results of operations and future prospects. In such event, the market price of our Class A Common Stock could decline, and you could lose all or part of your investment.*

#### Risks Related to Our Business and Our Industry
***Although we were formed in 2007, we have a limited operating history with respect to sales of our current collaboration products, which makes it difficult to evaluate our prospects and future results of operations.***

We were formed as a limited liability company in December 2007 and converted into a corporation in May 2013. From our formation until 2013, we had very limited sales of our current collaboration products. From 2008 to 2013, we operated a restaurant to test our software by providing use to our restaurant customers, and also to demo our products to potential customers. From 2010 to 2015, we were developing products, filing patents, and testing the products with end-users in a variety of markets, in order to determine the products and markets in which to focus. In 2016 and 2017, we started greatly expanding sales of our collaboration products, focusing on our current three vertical markets of enterprise, education and hospitals so that by the end of 2018, we were primarily selling products similar to our current product line. As a result of our limited operating history relating to our current business, our ability to forecast our future results of operations is limited and subject to a number of uncertainties, including our ability to plan for and model future growth. Our historical revenue growth should not be considered indicative of our future performance. Further, in future periods, our revenue growth could slow or our revenue could decline for a number of reasons, including any reduction in demand for our platform, increased competition, contraction of our overall market, our inability to accurately forecast demand for our platform and plan for capacity constraints or our failure, for any reason, to capitalize on growth opportunities. We have encountered and will encounter risks and uncertainties frequently experienced by growing companies in rapidly changing industries, such as the risks and uncertainties described herein. If our assumptions regarding these risks and uncertainties, which we use to plan our business, are incorrect or change, or if we do not address these risks successfully, our business would be harmed.

***We have a history of net losses, and we expect to increase our expenses in the future, which could prevent us from achieving or maintaining profitability.***

We have incurred net losses in the past, including a net loss of approximately $3.60 million for the nine months ended September 30, 2022 and $3.71 million for the fiscal year ended December 31, 2021. We intend to continue to expend significant funds to expand our direct sales force and marketing efforts to attract new customers and hosts, to develop and enhance our products and for general corporate purposes, including operations, hiring additional personnel, upgrading our infrastructure and expanding into new geographical markets. To the extent we are successful in increasing our user base, we may also incur increased losses because, other than sales commissions, the costs associated with acquiring customers and hosts are generally incurred up front, while the subscription revenue is generally recognized ratably over the subscription term, which can be monthly, annually or on a multi-year basis. Our efforts to grow our business may be costlier than we expect, and we may not be able to increase our revenue enough to offset our higher operating expenses. We may incur significant losses in the future for a number of reasons, including as a result of the other risks described herein, and unforeseen expenses, difficulties, complications, delays and other unknown events. If we are unable to achieve and sustain profitability, the value of our business and Class A Common Stock may significantly decrease. Furthermore, it is difficult to predict the size and growth rate of our market, customer demand for our platform, user adoption and renewal of our platform, the entry of competitive products and services, or the success of existing competitive products and services. As a result, we may not achieve or maintain profitability in future periods. If we fail to grow our revenue sufficiently to keep pace with our investments and other expenses, our business would be harmed.

[**Table of Contents**](#TOC001)

#### We may need additional capital, and we cannot be certain that additional financing will be available on favorable terms, or at all.
Historically, we have funded our operations and capital expenditures primarily through equity issuances and cash generated from our operations. Although we currently anticipate that after raising capital in this Offering our existing cash and cash equivalents and cash flow from operations will be sufficient to meet our cash needs for a period of at least 12 months, given the fact that we will not receive any proceeds from the over-allotment shares sold on behalf of the Selling Stockholders, and as a result of other requirements for cash that we may not currently anticipate, we may require additional financing. We evaluate financing opportunities from time to time, and our ability to obtain financing will depend, among other things, on our development efforts, business plans, operating performance and condition of the capital markets at the time we seek financing. To access capital to fund operations or provide growth capital, we may need to raise capital in one or more debt and/or equity offerings. There can be no assurance, especially given the current volatility and weakness of the U.S. public markets, that we will be successful in raising necessary capital or that any such offering will be on terms acceptable to the Company, if at all. We may be required to issue securities that may have rights, preferences or privileges senior to the rights of our Class A Common Stock, and our stockholders may experience dilution. If we are unable to raise additional capital that may be needed on terms acceptable to us, it could have a material adverse effect on the Company.

***We have assumed a significant amount of debt. To the extent we are unable to refinance, repay, extend or convert such indebtedness, our operations may not be able to generate sufficient cash flows to meet our debt obligations, which could reduce our financial flexibility and adversely impact our operations.***

Currently we have considerable obligations under revenue loans and convertible debt securities outstanding with various lenders, including related parties. We currently intend to (i) refinance approximately $213,000 of such debt, (ii) repay approximately $2.0 million of such debt from the proceeds of this Offering, and (iii) convert approximately $9.7 million in principal amount of debt securities (including accrued interest) into shares of our Class A Common Stock and Class B Common Stock upon completion of this Offering, as applicable.

In addition, we have a payroll tax liability of approximately $408,000. In the event that we are unable to refinance all or a portion of such outstanding indebtedness, or if we are unable to reach an installment agreement with the IRS, we may be required to use up to an additional $408,000 of the net proceeds from this Offering to repay this tax liability.

Our ability to continue as a going concern is highly contingent on the ability to either extend the maturity of our existing debt, refinance our existing debt, convert the debt to equity, or raise additional capital, such as through this Offering. Further, our ability to make payments on such indebtedness depends on our ability to generate cash flow. To the extent we are unable to refinance, repay, extend or convert such indebtedness, we may not generate sufficient cash flow from operations to enable us to repay this indebtedness and to fund other liquidity needs, including capital expenditure requirements. Such indebtedness could affect our operations in several ways, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a significant portion of our cash flows could be required to be used to service such indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a high level of debt could increase our vulnerability to general adverse economic and industry conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• covenants contained in the agreements governing such outstanding indebtedness could limit our ability to borrow additional funds, dispose of assets, pay dividends and make certain investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a high level of debt may place us at a competitive disadvantage compared to our competitors that are less leveraged and, therefore, our competitors may be able to take advantage of opportunities that our indebtedness may prevent us from pursuing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• debt covenants to which we may agree may affect our flexibility in planning for, and reacting to, changes in the economy and in our industry.

A high level of indebtedness increases the risk that we may default on our debt obligations. If we cannot service, extend, refinance or convert our indebtedness, and we are unable to generate sufficient cash flows to pay the principal or interest on our debt. we may have to take actions such as selling significant assets, seeking additional equity financing (which will result in additional dilution to stockholders) or reducing or delaying capital expenditures, any of which could have a material adverse effect on our operations and financial condition. If we do not have sufficient funds and are otherwise unable to arrange financing, our assets may be foreclosed upon which could have a material adverse effect on our business, financial condition and results of operations.

[**Table of Contents**](#TOC001)

***Revenue growth and increase in the market share of our products depend on successful consumer adoption of our ThinkHub*<sup>®</sup> product offerings, which requires sufficient sales, marketing, and product development funding.***

Our goal is to grow revenue from an increase in adoption of our ThinkHub<sup>®</sup> product offerings, including ThinkHub Room™ and ThinkHub Cloud™. If we cannot successfully gain consumer adoption of our ThinkHub<sup>®</sup> product offerings, we may not be able to grow revenue or increase our products' market share without initiating additional sales or increasing our sales and marketing campaigns and product development. We cannot assure you that we will have sufficient funds available to invest in sales and marketing and continued product development in order to achieve our revenue growth targets.

***We depend upon the development of new products and services, and enhancements to existing products and services, and if we fail to predict and respond to emerging technological trends and customer's changing needs, our operating result may suffer.***

The markets for our products and services are characterized by rapidly changing technology, evolving industry standards, and new product and service introductions. Our operating results depend on our ability to develop and introduce new products and services into existing and emerging markets and to reduce the production costs of existing products. If customers do not purchase and/or renew our offerings our business could be harmed. The process of developing new technology related to market transitions — such as collaboration, digital transformation and the cloud — is complex and uncertain, and if we fail to accurately predict customers' changing needs and emerging technological trends, our business could be harmed. We must commit significant resources, including the investments we have been making in our strategic priorities to developing new products and services before knowing whether our investments will result in products and services the market will accept. In particular, if our modeled evolution from in-room products to hybrid as well as the addition of SaaS consumption of our ThinkHub Cloud™ product does not emerge as we believe it will, or if the industry does not evolve as we believe it will, or if our strategy for addressing this evolution is not successful, many of our strategic initiatives and investments may be of no or limited value. Similarly, our business could be harmed if we fail to develop, or fail to develop in a timely fashion, offerings to address other market transitions, or if the offerings addressing these other transitions that ultimately succeed are based on technology, or an approach to technology, different from ours. In addition, our business could be adversely affected in periods surrounding our new product introductions if customers delay purchasing decisions to qualify or otherwise evaluate new product offerings.

We have also been transforming our business to move from selling primarily room-based products and services to selling products and services that include both room-based products and cloud offerings integrated to work together to meet customer needs, and we are seeking to meet the evolving needs of customers which include offering our products and solutions in the manner in which customers wish to consume them. As a part of this transformation, we continue to make changes to how we are organized and how we build and deliver our technology, including changes in our business models with customers. If our strategy for addressing our customer needs, or the architectures and solutions we develop do not meet those needs, or the changes we are making in how we are organized and how we build and deliver our technology is incorrect or ineffective, we may not be able to achieve our customer adoption and revenue goals, in connection with which our operating results and financial condition may be negatively affected.

Furthermore, we may not execute successfully on our vision or strategy because of challenges with regard to product planning and timing, technical hurdles that we fail to overcome in a timely fashion, or a lack of appropriate resources. This could result in competitors, some of which may also be our partners, providing those solutions before we do and loss of market share, revenue, and earnings. In addition, the growth in demand for technology delivered as a service enables new competitors to enter the market. The success of new products and services depends on several factors, including proper new product and service definition, component costs, timely completion and introduction of these products and services, differentiation of new products and services from those of our competitors, and market acceptance of these products and services. There can be no assurance that we will successfully identify new product and services opportunities, develop and bring new products and services to market in a timely manner, or achieve market acceptance of our products and services or that products, services and technologies developed by others will not render our products, services or technologies obsolete or noncompetitive.

[**Table of Contents**](#TOC001)

***We generate revenue from sales of products for and subscriptions to our platform, and any decline in demand for our platform or for collaboration technologies in general would harm our business.***

We generate, and expect to continue to generate, revenue from the sale of products for and of subscriptions to our platform. As a result, widespread acceptance and use of collaboration technologies in general, and our platform and visual collaboration in particular, is critical to our future growth and success. If the collaboration technology market fails to grow or grows more slowly than we currently anticipate, demand for our platform could be negatively affected.

Changes in user preferences for collaboration technologies may have a disproportionately greater impact on us than if we offered multiple platforms or disparate products. Demand for collaboration technologies in general, and our platform in particular, is affected by a number of factors, many of which are beyond our control. Some of these potential factors include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• awareness of the visual collaboration technology category generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• availability of products and services that compete with ours;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• new modes of collaboration that may be developed in the future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ease of adoption and use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• features and platform experience;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reliability of our platform, including frequency of outages;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• brand;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• security and privacy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• user support; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• pricing.

The collaboration technology market is subject to rapidly changing user demand and trends in preferences. If we fail to successfully predict and address these changes and trends, meet user demands or achieve more widespread market acceptance of our platform, our business would be harmed.

***We recognize revenue from subscriptions to our platform over the terms of these subscriptions. Consequently, increases or decreases in new sales may not be immediately reflected in our results of operations and may be difficult to discern.***

We recognize revenue from subscriptions to our platform over the terms of these subscriptions. As a result, a portion of the revenue we report in each quarter is derived from the recognition of deferred revenue relating to subscriptions entered into during previous quarters. Consequently, a decline in new or renewed subscriptions in any single quarter may have a small impact on the revenue that we recognize for that quarter. However, such a decline will negatively affect our revenue in future quarters. Accordingly, the effect of significant downturns in sales and potential changes in our pricing policies or rate of customer expansion or retention may not be fully reflected in our results of operations until future periods. In addition, a significant portion of our costs are expensed as incurred, while revenue is recognized over the term of the subscription. As a result, growth in the number of new customers and hosts could continue to result in our recognition of higher costs and lower revenue in the earlier periods of our subscriptions. Finally, our subscription-based revenue model also makes it difficult for us to rapidly increase our revenue through additional sales in any period, as revenue from new customers or from existing customers that increase their use of our platform or upgrade must be recognized over the applicable subscription term.

[**Table of Contents**](#TOC001)

***The experience of our users depends upon the interoperability of our platform across devices, operating systems and third-party applications that we do not control, and if we are not able to maintain and expand our relationships with third parties to integrate our platform with their solutions, our business may be harmed.***

One of the most important features of our platform is its broad interoperability with a range of diverse devices, operating systems and third-party applications. Our platform is accessible from devices running Windows, Mac OS, iOS, Android and Linux. We also have integrations with Zoom, and Microsoft for video conferencing. We are dependent on the accessibility of our platform across these and other third-party operating systems and applications that we do not control. Several of our competitors own, develop, operate, or distribute operating systems, app stores, co-located data center services and other software, and also have material business relationships with companies that own, develop, operate or distribute operating systems, applications markets, co-located data center services and other software that our platform requires in order to operate. Moreover, some of these competitors have inherent advantages developing products and services that more tightly integrate with their software and hardware platforms or those of their business partners.

Third-party services and products are constantly evolving, and we may not be able to modify our platform to assure its compatibility with that of other third parties following development changes. In addition, some of our competitors may be able to disrupt the operations or compatibility of our platform with their products or services, or exert strong business influence on our ability to, and terms on which we, operate and distribute our platform. For example, we currently offer products that may compete with several large technology companies that we rely on to ensure the interoperability of our platform with their products or services. As our respective products evolve, we expect this level of competition to increase. Should any of our competitors modify their products or standards in a manner that degrades the functionality of our platform or gives preferential treatment to competitive products or services, whether to enhance their competitive position or for any other reason, the interoperability of our platform with these products could decrease and our business could be harmed.

***Our current products, as well as products, features and functionality that we may introduce in the future, may not be widely accepted by consumers or may receive negative attention or may require us to compensate or reimburse third parties, any of which may lower our margins and harm our business.***

Our ability to engage, retain and increase our base of customers and to increase our revenue will depend on our ability to successfully create new products, features and functionality, both independently and together with third parties. We may introduce significant changes to our existing products or develop and introduce new and unproven products, including technologies with which we have little or no prior development or operating experience. These new products and updates may fail to engage, retain and increase our base of customers or may create lag in adoption of such new products. New products may initially suffer from performance and quality issues that may negatively impact our ability to market and sell such products to new and existing customers. The short- and long-term impact of any major change to our products, or the introduction of new products, is particularly difficult to predict. If new or enhanced products fail to engage, retain and increase our base of customers, we may fail to generate sufficient revenue, operating margin or other value to justify our investments in such products, any of which may harm our business in the short term, long term, or both.

In addition, our current products, as well as products, features and functionality that we may introduce in the future, may require us to compensate or reimburse third parties.

#### Our failure to properly manage the distribution of our products and services could result in a loss of revenues.
We currently sell our products and services both directly to customers and through our Channel Partners. Successfully managing the interaction of our direct and indirect sales channels to reach various potential customers for our services is a complex process. Each sales channel has distinct risks and costs, and therefore, our failure to implement the most advantageous balance in the sales model for our services could adversely affect our revenue and profitability.

***We utilize our network of Channel Partners to sell our products and services, and our failure to effectively develop, manage and maintain our indirect sales channels would harm our business.***

Our future success depends on our continued ability to establish and maintain a network of channel relationships, and we expect that we will need to maintain and expand our network as we grow. A large portion of our revenue is derived from our network of dealers and distributors, which we refer to collectively as Channel Partners, many of which sell or may in the future decide to sell their own products and services or services from other providers. Loss

[**Table of Contents**](#TOC001)

of or reduction in sales through these third parties could reduce our revenue. Our competitors may in some cases be effective in causing our Channel Partners to favor their products and services or prevent or reduce sales of our products and services. Recruiting and retaining qualified Channel Partners in our network and training them in our technology and product offerings requires significant time and resources. We must continue to scale and improve our processes and procedures to support these channels, including investment in systems and training. Many Channel Partners may not be willing to invest the time and resources required to train their staff to effectively sell our platform. If we fail to maintain relationships with our Channel Partners, fail to develop relationships with new Channel Partners in new markets or expand the number of Channel Partners in existing markets or fail to manage, train, or provide appropriate incentives to our existing Channel Partners, our ability to increase the number of new customers and increase sales to existing customers could be adversely impacted, which would harm our business.

***We rely on our Channel Partners for a large portion of our revenues, two of which account for a significant percentage of these revenues, and the loss of these Channel Partners could result in a significant loss of revenues.***

We have two methods of selling our products: (1) sales by our Channel Partners, who buy our products and resell them to our customers (or End Users), and (2) sales directly to End Users, which are customers that purchase our products directly for their own use. In consideration for their marketing and selling our products, we provide Channel Partners with discounts on our products. Sales made by our more than 80 Channel Partners accounted for approximately 96%, 92% and 77% of our sales, for the nine months ended September 30, 2022 and the years ended December 31, 2021 and 2020, respectively. Two of our Channel Partners accounted for an aggregate of approximately 31% and 9% of revenue for the nine months ended September 30, 2022 and 17% and 9.2% for the 9 months ended September 30, 2021.

We believe that most of our Channel Partners could be replaced without having a material adverse impact on our revenues, but if we were to lose the services of either of Channel Partners accounting for the largest number of our sales, it may be difficult to replace either of them and such loss could have a material adverse impact on our revenues. The composition of our Channel Partners will vary from period to period but we expect that a significant portion of our revenue will continue, for the foreseeable future, to come from a relatively small number of Channel Partners. Consequently, our financial results may fluctuate significantly from period-to-period based on the actions of one or more significant Channel Partners. A channel partner may take actions that affect the Company for reasons that we cannot anticipate or control, such as reasons related to the channel partner's financial condition, changes in the channel partner's business strategy or operations, changes in technology and the introduction of alternative competing products, or as the result of the perceived quality or cost-effectiveness of our products. Our agreements with our two largest Channel Partners may be cancelled if we materially breach the agreement or for other reasons outside of our control such as insolvency or financial hardship that may result in a Channel Partner filing for bankruptcy court protection against unsecured creditors. In addition, these Channel Partners may seek to renegotiate the terms of current agreements or renewals. The loss of or a reduction in sales or anticipated sales to our most significant or several of our Channel Partners could have a material adverse effect on our business, financial condition and results of operations.

***Our ability to sell products for and subscriptions to our platform could be harmed by real or perceived material defects or errors in our platform.***

The software technology underlying our platform is inherently complex and may contain material defects or errors, particularly when new products are first introduced or when new features or capabilities are released. We have from time to time found defects or errors in our platform, and new defects or errors in our existing platform or new products may be detected in the future by us or our users. There can be no assurance that our existing platform and new products will not contain defects. Any real or perceived errors, failures, vulnerabilities, or bugs in our platform could result in negative publicity or lead to data security, access, retention or other performance issues, all of which could harm our business. The costs incurred in correcting such defects or errors may be substantial and could harm our business. Moreover, the harm to our reputation and legal liability related to such defects or errors may be substantial and would harm our business.

We also utilize hardware purchased or leased and software and services licensed from third parties to offer our platform. Any defects in, or unavailability of, our or third-party hardware, software or services that cause interruptions to the availability of our services, loss of data or performance issues could, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cause a reduction in revenue or delay in market acceptance of our platform;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• require us to issue refunds to our customers or expose us to claims for damages;

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cause us to lose existing hosts and make it more difficult to attract new customers and hosts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• divert our development resources or require us to make extensive changes to our platform, which would increase our expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increase our technical support costs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• harm our reputation and brand.

#### We operate in a highly competitive market and many of our competitors have greater financial resources and established relationships with major corporate customers.
The market for communications and collaboration technologies is highly competitive, rapidly changing and includes large, well-financed participants such as Zoom Video Communications, Inc., Cisco Systems, Inc., and Microsoft Corporation. These companies have substantially greater brand recognition, financial and other resources than us, furnish some of the same services provided by us, and have established relationships with major corporate customers that have policies of purchasing directly from them. We also currently compete with other visual collaboration companies that have room-based products, including Prysm, Bluscape, Oblong and Mulit-taction. Our competitors offer services similar both on a bundled and un-bundled basis, creating a highly competitive environment with pressure on pricing of such services. We believe that as the demand for collaboration technologies continues to increase, additional competitors, many of which may have greater resources than us, will continue to enter this market. Additionally, with the introduction of new technologies and new market entrants, we expect competition to intensify in the future.

#### Our products and services must continue to compete effectively in the market.
Demand for our services is also price sensitive. Many factors, including marketing, user acquisition and technology costs, and our current and future competitors' pricing and marketing strategies can significantly affect our pricing strategies. Certain of our competitors offer, or may, in the future, offer, lower-priced or free products or services that compete with our services or may bundle and offer a broader range of products and services. Similarly, certain competitors may use marketing strategies that enable them to acquire customers at a lower cost than us. Further, our competitors could develop products similar to our products that rely on open-source software. Even if such products do not include all the features and functionality that our products provide, we could face pricing pressure to the extent that users find these products to be sufficient for their needs. There can be no assurance that we will not be required to reduce our prices, provide discounts, or increase our marketing and other expenses to attract and retain customers in response to competitive pressures, any of which could have an adverse impact on our business.

#### There is limited market awareness of our services.
Our future success will be dependent in significant part on our ability to generate demand for our collaboration technologies and services. To this end, our direct marketing and indirect sales operations must increase market awareness of our service offerings to generate increased revenue. We have limited sales and marketing resources, with 19 employees and two international contractors in sales and marketing as of December 31, 2022, and we have had limited resources and/or cash flow in the last several years for spending on advertising, marketing and additional personnel. Our products and services require a sophisticated sales effort targeted at the senior management of our prospective customers. If we were to hire new employees in sales and marketing, those employees will require training and take time to achieve full productivity. We cannot be certain that our new hires will become as productive as necessary or that we will be able to hire enough qualified individuals or retain existing employees in the future. We cannot be certain that we will be successful in our efforts to market and sell our products and services, and, if we are not successful in building market awareness and generating increased sales, future results of operations will be adversely affected.

#### Our success depends on our ability to recruit and retain adequate engineering talent.
The market for our products and services are characterized by rapidly changing technology. The pressure to innovate and stay ahead of our competitors requires an investment in talent. Specifically, competing successfully in this market depends on our ability to recruit and retain adequate engineering talent. Because of the competitive nature of this industry, this can prove a challenge. Failure to recruit and retain adequate talent could negatively impact our ability to keep up with the rapidly changing technology.

[**Table of Contents**](#TOC001)

#### Any failure to offer high-quality support for our customers and hosts may harm our relationships with our customers and hosts and, consequently, our business.
We have designed our platform to be easy to adopt and use with minimal support necessary. However, if we experience increased user demand for support, we may face increased costs that may harm our results of operations. In addition, as we continue to grow our operations and support our global user base, we need to be able to continue to provide efficient support that meets our customers' needs globally at scale. As the number of our customers grow this will put additional pressure on our support organization. If we are unable to provide efficient user support globally at scale or if we need to hire additional support personnel, our business may be harmed. Our new customer acquisitions are highly dependent on our business reputation and on positive recommendations from our existing customers. Any failure to maintain high-quality support, or a market perception that we do not maintain high-quality support for our customers, would harm our business.

#### We may be unable to adequately respond to rapid changes in technology.
The market for our collaboration technologies and services is characterized by rapidly changing technology, evolving industry standards and frequent product introductions. The introduction of products and services embodying new technology and the emergence of new industry standards may render our existing product and service offerings obsolete and unmarketable if we are unable to adapt to change. A significant factor in our ability to grow and to remain competitive is our ability to successfully introduce new products and services that embody new technology, anticipate and incorporate evolving industry standards and achieve levels of functionality and price acceptable to the market. If our offerings are unable to meet expectations or unable to keep pace with technological changes in the collaboration industry, our offerings could eventually become obsolete. We may be unable to allocate the funds necessary to upgrade our offerings as improvements in collaboration technologies are introduced. In the event that other companies develop more advanced service offerings, our competitive position relative to such companies would be harmed.

#### Any system failures or interruptions may cause loss of customers.
Our success depends, in part, on the seamless, uninterrupted operation of our managed service offerings. As complexity and volume continue to increase, we will face increasing demands and challenges in managing them. Any prolonged failure of these services or other systems or hardware that cause significant interruptions to our operations could seriously damage our reputation and result in customer attrition and financial loss.

#### We may in the future rely on third-party software that may be difficult to replace or may not perform adequately.
We may in the future integrate third-party licensed software components into our technology infrastructure in order to provide our services. This software may not continue to be available on commercially reasonable terms or pricing or may fail to continue to be updated to remain competitive. The loss of the right to use this third-party software may increase our expenses or impact the provisioning of our services. The failure of this third-party software could materially impact the performance of our services and may cause material harm to our business or results of operations.

#### We depend upon our network providers' and facilities' infrastructure.
Our success depends upon our ability to implement, expand and adapt our network infrastructure and support services to accommodate an increasing amount of video traffic and evolving customer requirements at an acceptable cost. This has required and will continue to require that we enter into agreements with providers of infrastructure capacity, equipment, facilities and support services on an ongoing basis. We cannot ensure that any of these agreements can be obtained on satisfactory terms and conditions. We also anticipate that future expansions and adaptations of our network infrastructure facilities may be necessary in order to respond to growth in the number of customers served.

#### Our network could fail, which could negatively impact our revenues.
Our success depends upon our ability to deliver reliable, high-speed access to our channels' and customers' data centers and upon the ability and willingness of our telecommunications providers to deliver reliable, high-speed telecommunications service through their networks. Our network and facilities, and other networks and facilities providing services to us, are vulnerable to damage, unauthorized access or cessation of operations from human error and tampering, breaches of security, fires, earthquakes, severe storms, power losses, telecommunications failures, software defects, intentional acts of vandalism including computer viruses, and similar events. The occurrence of a

[**Table of Contents**](#TOC001)

natural disaster or other unanticipated problems at the network operations center, key sites at which we locate routers, switches and other computer equipment that make up the backbone of our service offering and hosted infrastructure, or at one or more of our partners' data centers, could substantially and adversely impact our business. We cannot ensure that we will not experience failures or shutdowns relating to individual facilities or even catastrophic failure of the entire network or hosted infrastructure. Any damage to, or failure of, our systems or service providers could result in reductions in, or terminations of, services supplied to our customers, which could have a material adverse effect on our business and results of operations.

***Our network depends upon telecommunications carriers who could limit or deny us access to their network or fail to perform, which would have a material adverse effect on our business.***

We rely upon the ability and willingness of certain telecommunications carriers and other corporations to provide us with reliable high-speed telecommunications service through their networks. If these telecommunications carriers and other corporations decide not to continue to provide service to us through their networks on substantially the same terms and conditions (including, without limitation, price, early termination liability, and installation interval), if at all, it would have a material adverse effect on our business, financial condition and results of operations. Additionally, many of our service level objectives are dependent upon satisfactory performance by our telecommunications carriers. If they fail to so perform, it may have a material adverse effect on our business.

***Our security measures may in the future be compromised. Consequently, our products and services may be perceived as not being secure. This perception may result in customers and hosts curtailing or ceasing their use of our products, our incurring significant liabilities and our business being harmed.***

Our operations involve the storage and transmission of customer data or information, and security incidents may occur in the future, resulting in unauthorized access to, loss of or unauthorized disclosure of this information, regulatory enforcement actions, litigation, indemnity obligations and other possible liabilities, as well as negative publicity, which could damage our reputation, impair our sales and harm our business. Cyberattacks and other malicious internet-based activity continue to increase, and cloud-based platform providers of products and services have been and are expected to continue to be targeted. In addition to traditional computer "hackers," malicious code (such as viruses and worms), employee theft or misuse and denial-of-service attacks, sophisticated nation-state and nation-state supported actors now engage in attacks (including advanced persistent threat intrusions). Despite significant efforts to create security barriers to such threats, it is virtually impossible for us to entirely mitigate these risks. If our security measures are compromised as a result of third-party action, employee, customer, host or user error, malfeasance, stolen or fraudulently obtained log-in credentials or otherwise, our reputation would be damaged, our data, information or intellectual property, or those of our customers, may be destroyed, stolen or otherwise compromised, our business may be harmed and we could incur significant liability. We may be unable in the future to anticipate or prevent techniques used to obtain unauthorized access or to compromise our systems because they change frequently and are generally not detected until after an incident has occurred. Additionally, we cannot be certain that we will be able to address any vulnerabilities in our software that we may become aware of in the future. We expect similar issues to arise in the future as we continue to expand the features and functionality of existing products and introduce new products, and we expect to expend significant resources in an effort to protect against security incidents. Concerns regarding privacy, data protection and information security may cause some of our customers and hosts to stop using our solutions and fail to renew their subscriptions. This discontinuance in use or failure to renew could substantially harm our business. Further, as we rely on third-party and public-cloud infrastructure, we depend in part on third-party security measures to protect against unauthorized access, cyberattacks and the mishandling of data and information. In addition, failures to meet customers' and hosts' expectations with respect to security and confidentiality of their data and information could damage our reputation and affect our ability to retain customers and hosts, attract new customers and hosts and grow our business. In addition, a cybersecurity event could result in significant increases in costs, including costs for remediating the effects of such an event, lost revenue due to network downtime, and a decrease in customer, host and user trust, increases in insurance premiums due to cybersecurity incidents, increased costs to address cybersecurity issues and attempts to prevent future incidents, and harm to our business and our reputation because of any such incident.

Many governments have enacted laws requiring companies to provide notice of data security incidents involving certain types of personal data. In addition, some of our customers require us to notify them of data security breaches. Security compromises experienced by our competitors, by our customers or by us may lead to public disclosures, which may lead to widespread negative publicity. Any security compromise in our industry, whether actual or perceived, could

[**Table of Contents**](#TOC001)

harm our reputation, erode confidence in the effectiveness of our security measures, negatively affect our ability to attract new customers and hosts, cause existing customers to elect not to renew their subscriptions or subject us to third-party lawsuits, regulatory fines or other action or liability, which could harm our business.

There can be no assurance that any limitations of liability provisions in our agreements would be enforceable or adequate or would otherwise protect us from any such liabilities or damages with respect to any particular claim. We also cannot be sure that our existing general liability insurance coverage and coverage for errors or omissions will continue to be available on acceptable terms or will be available in sufficient amounts to cover one or more large claims or that the insurer will not deny coverage as to any future claim. The successful assertion of one or more large claims against us that exceed available insurance coverage, or the occurrence of changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, would harm our business.

#### The failure to attract and retain additional qualified personnel could harm our business and culture and prevent us from executing our business strategy.
To execute our business strategy, we must attract and retain highly qualified personnel. Competition for executives, software developers, sales personnel and other key employees in our industry is intense. In particular, we compete with many other companies for software developers with high levels of experience in designing, developing and managing software for communication and collaboration technologies, as well as for skilled sales and operations professionals. At times, we have experienced, and we may continue to experience, difficulty in hiring and retaining employees with appropriate qualifications, and we may not be able to fill positions. If we fail to attract new personnel or fail to retain and motivate our current personnel, our business could be harmed.

Many of the companies with which we compete for experienced personnel have greater resources than we have, and some of these companies may offer greater compensation packages. We may be required to offer substantial equity awards to compete with compensation packages offered by other companies. If the perceived value of our equity awards declines, or if the mix of equity and cash compensation that we offer is unattractive, it may adversely affect our ability to recruit and retain highly skilled employees. Job candidates may also be threatened with legal action under agreements with their existing employers if we attempt to hire them, which could impact hiring and result in a diversion of our time and resources. Additionally, laws and regulations, such as restrictive immigration laws, may limit our ability to recruit internationally. We must also continue to retain and motivate existing employees through our compensation practices, company culture and career development opportunities. If we fail to attract new personnel or to retain our current personnel, our business would be harmed.

***The loss of our executive officers, especially our Chief Executive Officer, or our inability to attract and retain qualified personnel may adversely affect our business, financial condition and results of operations.***

Our business and operations depend to a significant degree on the skills, efforts and continued services of our executive officers (including Michael Feldman, our President and Chief Executive Officer), who have critical industry experience and relationships. Although we currently intend to enter into employment agreements with Mr. Feldman and two of our other executive officers prior to the consummation of this Offering, and we currently intend for such agreements to provide that we may terminate their employment with us at any time, with or without cause, as well as that they may terminate their employment with us at any time, with cause or for good reason. Accordingly, these executive officers may not remain associated with us. The efforts of these persons will be critical to us as we continue to develop our products and business. We do not carry key person life insurance on any of our management other than our Chief Executive Officer in a face amount of $3,000,000, which would leave our Company uncompensated for the loss of any of our executive officers other than our Chief Executive Officer.

#### The coronavirus (COVID-19) pandemic is a continuing serious threat to health and economic well-being affecting our employees, investors, customers, and other business partners.
On March 11, 2020, the World Health Organization announced that infections of COVID-19 had become pandemic, and on March 13, 2020, the U.S. President announced a National Emergency relating to the disease. Throughout 2020, widespread infection in the United States and abroad prompted national, state, and local authorities to require or recommend social distancing and impose quarantine and isolation measures on large portions of the population, including mandatory business closures. These measures, while intended to protect human life, had serious adverse impacts on domestic and foreign economies. Although many of these measures have not been in place in the

[**Table of Contents**](#TOC001)

United States and most other countries for some time now, a significant increase in the spread of new variants or subvariants could result in the reinstatement of some or many of these measures. The sweeping nature of the COVID-19 Pandemic, to date, makes it difficult to predict how the Company's business and operations could be affected in the future, if a new variant should emerge. Moreover, the COVID-19 outbreak has had indeterminable adverse effects on general commercial activity and the world economy, and our business and results of operations could be adversely affected to the extent that COVID-19 or any other virus epidemic harms the global economy generally and/or the markets in which we operate specifically.

Further, our current and potential customers may be required to allocate resources and adjust budgets to accommodate potential contingencies related to the effects of the coronavirus and measures required to be put in place to prevent and contain contamination of the virus. Uncertainties resulting from COVID-19 may result in customers delaying budget expenditures or re-allocating resources, which would result in a decrease in orders from these customers. Any such decrease in orders from these customers could cause a material adverse effect on our operations and financial results and our ability to generate positive cash flows.

In 2020 the Company's revenues decreased by 25% compared to the prior year. This was the first year our year-over-year revenues decreased since inception, and was due nearly entirely to the COVID-19 Pandemic. Most of our enterprise customers required all or nearly all of their employees to work remotely for most of 2020, most of our education customers switched to remote learning and in many states elective surgeries were prohibited for much of the year. All of these factors impacted our revenue in 2020. In 2021, as workers and students began to return, with a demand for a hybrid work environment, our revenues increased throughout the year, until the fourth quarter of 2021 when our revenues returned to our pre-COVID-19 Pandemic levels. Moving forward, while our products benefit from the current hybrid work environment, a scenario where universities were to switch to all-remote classes, companies returned to all-remote work and elective surgeries were widely cancelled in hospitals could adversely affect our revenues.

In addition to the above, over the last twelve months, supply chain shortages have impacted our ability to ship our products within our normal delivery time on several occasions, resulting in lower revenues for specific periods than we projected. If supply chain disruptions become more severe in the future this could adversely affect our revenues for specific periods.

Any of the foregoing factors, or other cascading effects of the COVID-19 Pandemic that are not currently foreseeable, could materially increase our costs, negatively impact our sales and damage the Company's results of operations and its liquidity position, possibly to a significant degree. The duration of any such impacts cannot be predicted.

Also, to the extent the COVID-19 Pandemic or a similar public health threat has an impact on our business, it is likely to also have the effect of heightening many of the other risks described in this "*Risk Factors*" section.

#### We may be adversely affected by the effects of inflation.
Consumer inflation, as measured by the Consumer Price Index for All Urban Consumers has increased 8.2% for the 12 months ending September 30, 2022. Although inflation has resulted in an increase in costs we pay relating to our products, to date, we have been able to increase the prices we charge our customers and, therefore, such price increases we have incurred have not adversely affected our business, results of operations, financial position and liquidity, although we may not be able to continue raising the prices we charge customers if inflation continues to increase in the future. The existence of inflation in the economy also has the potential to result in higher interest rates and capital costs, supply shortages, increased costs of labor and other similar effects. In particular, the greatest effect of inflation has been the need for us to substantially increase salaries and other compensation we pay to our employees in order to keep wages competitive and continuing increases in wages may make it more difficult for us maintain general operating expenses at desired levels. Although we may take measures to mitigate the impact of this inflation through pricing actions and efficiency gains, if these measures are not effective our business, results of operations, financial position and liquidity could be materially adversely affected. Even if such measures are effective, there could be a difference between the timing of when these beneficial actions impact our results of operations and when the cost inflation is incurred. Additionally, the pricing actions we may take could negatively impact our customer engagement, and decrease our market share, and certain of our competitors — particularly our larger, more established competitors — may manage inflationary pressures better than we are able to.

[**Table of Contents**](#TOC001)

#### Geopolitical conditions, including acts of war or terrorism could adversely affect our business.
Our operations could be disrupted by geopolitical conditions, trade disputes, international boycotts and sanctions, political and social instability, acts of war, terrorist activity or other similar events. From time to time, we could have a large revenue stream associated with a particular customer or a large number of customers located in a particular geographic region. Decreased demand from a discrete event impacting a specific customer, industry, or region in which we have a concentrated exposure could negatively impact our results of operations.

Recently, Russia initiated significant military action against Ukraine. In response, the U.S. and certain other countries imposed significant sanctions and export controls against Russia, Belarus and certain individuals and entities connected to Russian or Belarusian political, business, and financial organizations, and the U.S. and certain other countries could impose further sanctions, trade restrictions, and other retaliatory actions should the conflict continue or worsen. It is not possible to predict the broader consequences of the conflict, including related geopolitical tensions, and the measures and retaliatory actions taken by the U.S. and other countries in respect thereof as well as any counter measures or retaliatory actions by Russia or Belarus in response, including, for example, potential cyberattacks or the disruption of energy exports, is likely to cause regional instability, geopolitical shifts, and could materially adversely affect global trade, currency exchange rates, regional economies and the global economy. The situation remains uncertain, and while it is difficult to predict the impact of any of the foregoing, the conflict and actions taken in response to the conflict could increase our costs, reduce our sales and earnings, impair our ability to raise additional capital when needed on acceptable terms, if at all, or otherwise adversely affect our business, financial condition, and results of operations.

***With regard to our sole manufacturer and supplier of computer equipment for our ThinkHub Room™ products, any potential disruption in and other risks relating to its supply chain could limit the availability or increase the costs of its computer equipment and consequently our ThinkHub Room™ products, potentially causing consumers to seek readily available or inexpensive alternative products from competing businesses, which may ultimately affect the total number of users using our platform and harm our business, financial condition and results of operations.***

Our sole manufacturer and supplier of computer equipment for our ThinkHub Room™ products obtains products and raw materials from manufacturers and distributors located around the world, and may have entered into long-term contracts or exclusive agreements that would ensure its ability to acquire the types and quantities of products or raw materials it desires at acceptable prices and in a timely manner. Any potential disruption in and other risks relating to our sole manufacturer and supplier's supply chain as a result of the COVID-19 Pandemic or Russia's invasion of Ukraine, could limit the availability or increase the costs of its computer equipment and consequently our ThinkHub Room™ products, potentially causing consumers to seek readily available or inexpensive alternative products from competing businesses, which may ultimately affect the total number of users using our platform and harm our business, financial condition and results of operations.

#### We may not successfully manage our growth or plan for future growth.
Recently, we have experienced rapid growth. For example, our headcount has grown to 75 full-time employees as of January 1, 2023 from 50 full time employees at January 1, 2021. The growth and expansion of our business places a continuous, significant strain on our management, operational and financial resources. Further growth of our operations to support our user base, our expanding third-party relationships, our information technology systems and our internal controls and procedures may not be adequate to support our operations. In addition, as we continue to grow, we face challenges of integrating, developing and motivating a rapidly growing employee base. Certain members of our management have not previously worked together for an extended period of time, and some do not have experience managing a public company, which may affect how they manage our growth. Managing our growth will also require significant expenditures and allocation of valuable management resources.

In addition, our rapid growth may make it difficult to evaluate our future prospects. Our ability to forecast our future results of operations is subject to a number of uncertainties, including our ability to effectively plan for and model future growth. We have encountered in the past, and may encounter in the future, risks and uncertainties frequently experienced by growing companies in rapidly changing industries. If we fail to achieve the necessary level of efficiency in our organization as it grows, or if we are not able to accurately forecast future growth, our business would be harmed.

[**Table of Contents**](#TOC001)

#### We may acquire other businesses or receive offers to be acquired, which could require significant management attention, disrupt our business or dilute stockholder value.
We may in the future make acquisitions of other companies, products and technologies. We have limited experience in acquisitions. We may not be able to find suitable acquisition candidates and we may not be able to complete acquisitions on favorable terms, if at all. If we do complete acquisitions, we may not ultimately strengthen our competitive position or achieve our goals, and any acquisitions we complete could be viewed negatively by users, developers or investors. In addition, we may not be able to integrate acquired businesses successfully or effectively manage the combined company following an acquisition. If we fail to successfully integrate our acquisitions, or the people or technologies associated with those acquisitions, into our Company, the results of operations of the combined company could be adversely affected. Any integration process will require significant time and resources, require significant attention from management and disrupt the ordinary functioning of our business, and we may not be able to manage the process successfully, which could harm our business. In addition, we may not successfully evaluate or utilize the acquired technology and accurately forecast the financial impact of an acquisition transaction, including accounting charges.

We may have to pay cash, incur debt or issue equity securities to pay for any such acquisition, each of which could affect our financial condition or the value of our capital stock. The sale of equity to finance any such acquisitions could result in dilution to our stockholders. If we incur more debt, it would result in increased fixed obligations and could also subject us to covenants or other restrictions that would impede our ability to flexibly operate our business.

***If our actual liability for sales and use taxes and federal regulatory fees is different from our accrued liability, it could have a material impact on our financial condition.***

Each state has different rules and regulations governing sales and use taxes, and these rules and regulations are subject to varying interpretations that may change over time. We review these rules and regulations periodically and, when we believe our services are subject to sales and use taxes in a particular state, we voluntarily engage state tax authorities in order to determine how to comply with their rules and regulations. Vendors of services, like us, are typically held responsible by taxing authorities for the collection and payment of any applicable sales taxes and federal fees. If one or more taxing authorities determines that taxes should have, but have not, been paid with respect to our services, we may be liable for past taxes in addition to taxes going forward. Liability for past taxes may also include very substantial interest and penalty charges. Our customer contracts provide that our customers must pay all applicable sales taxes and fees. Nevertheless, customers may be reluctant to pay back taxes and may refuse responsibility for interest or penalties associated with those taxes. If we are required to collect and pay back taxes and the associated interest and penalties, and if our customers fail or refuse to reimburse us for all or a portion of these amounts, we will have incurred unplanned expenses that may be substantial. Moreover, imposition of such taxes on our services going forward will effectively increase the cost of such services to our customers and may adversely affect our ability to retain existing customers or to gain new customers in the areas in which such taxes are imposed. We may also become subject to tax audits or similar procedures in states where we already pay sales and use taxes. The assessment of taxes, interest, and penalties as a result of audits, litigation, or otherwise could be materially adverse to our current and future results of operations and financial condition.

***The estimates of market opportunity and forecasts of market growth included in this prospectus may prove to be inaccurate, and even if the market in which we compete achieves the forecasted growth, our business could fail to grow at similar rates, if at all.***

Market opportunity estimates and growth forecasts included in this prospectus, including those we have generated ourselves, are subject to significant uncertainty and are based on assumptions and estimates that may not prove to be accurate. Not every organization covered by our market opportunity estimates will necessarily buy video communications platforms at all, and some or many of those organizations may choose to continue using legacy communication methods or point solutions offered by our competitors. It is impossible to build every product feature that every customer or host wants, and our competitors may develop and offer features that our platform does not provide. The variables that go into the calculation of our market opportunity are subject to change over time, and there is no guarantee that any particular number or percentage of the organizations covered by our market opportunity estimates will purchase our solutions at all or generate any particular level of revenue for us. Even if the market in which we compete meets the size estimates and growth forecasts in this prospectus, our business could fail to grow for a variety of reasons outside of our control, including competition in our industry. If any of these risks materialize, it could harm our business and prospects. For more information regarding the estimates of market opportunity and the forecasts of market growth included in this prospectus, see the section titled "Market and Industry Data."

[**Table of Contents**](#TOC001)

#### Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
As of December 31, 2021, we have $10.5 million of federal and state net operating loss carryforwards available to reduce future taxable income, which will begin to expire in 2034 for federal and 2028 for state tax purposes. It is more likely than not that we will not generate taxable income in time to use these net operating loss carryforwards before their expiration or at all. As a result, a full valuation allowance was recorded as of December 31, 2020 and December 31, 2021. Under federal income tax law, federal net operating losses incurred in 2018 and in future years may be carried forward indefinitely, but the deductibility of such federal net operating losses is limited. In addition, the federal and state net operating loss carryforwards may be subject to significant limitations under Section 382 and Section 383 of the Internal Revenue Code of 1986, as amended (the "Code"), and similar provisions under state law. The Tax Reform Act of 1986 contains provisions that limit the federal net operating loss carryforwards that may be used in any given year in the event of special occurrences, including significant ownership changes. If these specified events occur or have occurred, we may lose some or all of the tax benefits of these carryforwards. We may also experience ownership changes in the future as a result of subsequent shifts in our stock ownership, some of which may be outside of our control. If an ownership change occurs and our ability to use our net operating loss carryforwards is materially limited, it would harm our business by effectively increasing our future tax obligations.

#### Our reported results of operations may be adversely affected by changes in accounting principles generally accepted in the United States.
Generally accepted accounting principles in the United States are subject to interpretation by the Financial Accounting Standards Board, the Securities and Exchange Commission (SEC) and various bodies formed to promulgate and interpret appropriate accounting principles. A change in these principles or interpretations could have a significant effect on our reported results of operations and may even affect the reporting of transactions completed before the announcement or effectiveness of a change. For example, we adopted Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606), effective as of January 1, 2018 utilizing the full retrospective method of adoption. The adoption of ASC 606 impacted the timing and manner in which we report our revenue and expenses, especially with respect to our sales commissions. See Note 14 to our financial statements included elsewhere in this prospectus for more information. It is also difficult to predict the impact of future changes to accounting principles or our accounting policies, which may modify how we account for certain items currently.

#### We depend upon one manufacturer and supplier of computer equipment for our ThinkHub Room™ products.
To date, our ThinkHub Room™ products have been sold for use exclusively with Apple Mac Minis and Mac Pros. Apple Mac Minis and Mac Pros are manufactured and sold exclusively by Apple, Inc. ("Apple"). If Apple were to discontinue manufacture and sales of Mac Minis or Mac Pros, or we would otherwise be unable to obtain a sufficient supply of Mac Minis and Mac Pros for use with our ThinkHub Room™ products this could have a material adverse impact on our operations. Our core ThinkHub Room™ software was originally developed in a code base that is specific to Apple computers. However, the T1V app and ThinkHub Cloud™ both run in a software based cross-platform code base. We are in the process of migrating our core ThinkHub Room™ software to the cross-platform code base and expect this to be complete for the majority of our products by the first quarter of 2023. There is no assurance that we will be able to successfully migrate our core ThinkHub Room™ software to the cross-platform code base prior to any substantial loss of supply of these Apple products.

#### Risks Related to Our Intellectual Property

#### We may not be able to protect the rights to our intellectual property.
Failure to protect our existing intellectual property rights may result in the loss of our exclusivity or the right to use our technologies. If we do not adequately ensure our freedom to use certain technology, we may have to pay others for rights to use their intellectual property, pay damages for infringement or misappropriation and/or be enjoined from using such intellectual property. We rely on patent, trade secret, trademark and copyright law to protect our intellectual property. Some of our intellectual property is not covered by any patent. As we further develop our services and related intellectual property, we expect to seek additional patent protection. Our patent position is subject to complex factual and legal issues that may give rise to uncertainty as to the validity, scope and enforceability of a particular patent.

[**Table of Contents**](#TOC001)

Accordingly, we cannot assure that any of the patents owned by us or other patents that other parties license to us in the future will not be invalidated, circumvented, challenged, rendered unenforceable or licensed to others; any of our pending or future patent applications will be issued with the breadth of claim coverage sought by it, if issued at all; or any patents owned by or licensed to us, although valid, will not be dominated by a patent or patents to others having broader claims. Additionally, effective patent, trademark, copyright and trade secret protection may be unavailable, limited or not applied for in certain foreign countries.

We also seek to protect our intellectual property, including proprietary information that may not be patented or patentable, in part by confidentiality agreements. We enter into such confidentiality agreements with all of our employees and independent contractors. We cannot ensure that these agreements will not be breached, that we will have adequate remedies for any breach, or that such persons will not assert rights to intellectual property arising out of these relationships.

#### Our failure to obtain or maintain the right to use certain intellectual property may negatively affect our business.
Our future success and competitive position depend in part upon our ability to obtain and maintain certain intellectual property to be used in connection with our services. While we are not currently engaged in any intellectual property litigation, we could become subject to lawsuits in which it is alleged that we have infringed the intellectual property rights of others or we could commence lawsuits against others who we believe are infringing upon our rights. Our involvement in intellectual property litigation could result in significant expense, adversely affecting the development of sales of the challenged product and diverting the efforts of our technical and management personnel, whether or not such litigation is resolved in our favor.

In the event of an adverse outcome as a defendant in any such litigation, we may, among other things, be required to pay substantial damages; cease the development, use or sale of services or products that infringe upon other patented intellectual property; expend significant resources to develop or acquire non-infringing intellectual property; discontinue the use or application of infringing technology; or obtain licenses to the infringing intellectual property. We cannot ensure that we would be successful in such development or acquisition or that such licenses would be available upon reasonable terms. Any such development, acquisition or license could require the expenditure of substantial time and other resources and could have a negative effect on our business and financial results.

An adverse outcome as plaintiff in any such litigation, in addition to the costs involved, may, among other things, result in the loss of the intellectual property (such as a patent) that was the subject of the lawsuit by a determination of invalidity or unenforceability, significantly increase competition as a result of such determination, and require the payment of penalties resulting from counterclaims by the defendant.

***We may in the future be a party to intellectual property rights claims and other litigation matters, which, if resolved adversely, could harm our business.***

We protect our intellectual property through patents, copyrights, trademarks, domain names and trade secrets and, from time to time, are subject to litigation based on allegations of infringement, misappropriation or other violations of intellectual property or other rights. As we face increasing competition and gain an increasingly high profile, the possibility of intellectual property rights claims, commercial claims and other assertions against us grows. We may from time to time in the future become, a party to litigation and disputes related to our intellectual property, our business practices and our proprietary technology, products and services. The costs of supporting litigation and dispute resolution proceedings may be considerable, and there can be no assurances that a favorable outcome would be obtained. We may need to settle litigation and disputes on terms that are unfavorable to us, or we may be subject to an unfavorable judgment that may not be reversible upon appeal. The terms of any settlement or judgment could require us to cease some or all of our operations or pay substantial amounts to the other party. Even if we were to prevail in such a litigation or dispute, it could be costly and time consuming and divert the attention of our management and key personnel from our business operations. During the course of any potential litigation or dispute, we could make announcements regarding the results of hearings and motions and other interim developments. If securities analysts and investors regard these announcements as negative, the market price of our Class A Common Stock may decline. With respect to any intellectual property rights claim, we may have to seek a license to continue practices found to be in violation of third-party rights, which may not be available on reasonable terms and may significantly increase our operating expenses. A license to continue such practices may not be available to us at all, and we may be required to develop alternative non-infringing technology or practices or discontinue the practices. The development of alternative, non-infringing technology or practices could require significant effort and expense. Our business could be harmed as a result.

[**Table of Contents**](#TOC001)

#### Our use of third-party open-source software could negatively affect our ability to offer and sell subscriptions to our platform and subject us to possible litigation.
A portion of the technologies we use incorporates third-party open-source software, and we may incorporate third-party open-source software in the future. Open-source software is generally licensed by its authors or other third parties under open-source licenses. From time to time, companies that use third-party open-source software have faced claims challenging the use of such open-source software and requesting compliance with the open-source software license terms. Accordingly, we may be subject to suits by parties claiming ownership of what we believe to be open-source software or claiming non-compliance with the applicable open-source licensing terms. Some open-source software licenses require end-users who use, distribute or make available across a network software and services that include open-source software to offer aspects of the technology that incorporates the open-source software for no cost. We may also be required to make publicly available source code (which in some circumstances could include valuable proprietary code) for modifications or derivative works we create based upon, incorporating or using the open-source software and/or to license such modifications or derivative works under the terms of the particular open-source license. Additionally, if a third-party software provider has incorporated open-source software into software that we license from such provider, we could be required to disclose any of our source code that incorporates or is a modification of our licensed software. While we employ practices designed to monitor our compliance with the licenses of third-party open-source software and protect our valuable proprietary source code, we may inadvertently use third-party open-source software in a manner that exposes us to claims of non-compliance with the terms of their licenses, including claims of intellectual property rights infringement or for breach of contract. Furthermore, there exists today an increasing number of types of open-source software licenses, almost none of which have been tested in courts of law to provide guidance of their proper legal interpretations. If we were to receive a claim of non-compliance with the terms of any of these open-source licenses, we may be required to publicly release certain portions of our proprietary source code. We could also be required to expend substantial time and resources to re-engineer some of our software. Any of the foregoing could disrupt and harm our business.

#### Risks Related to Regulations

#### Our actual or perceived failure to comply with privacy, data protection and information security laws, regulations, and obligations could harm our business.
We receive, store, process and use personal information and other user content. There are numerous federal, state, local and international laws and regulations regarding privacy, data protection, information security and the storing, sharing, use, processing, transfer, disclosure and protection of personal information and other content, the scope of which is changing, subject to differing interpretations and may be inconsistent among countries, or conflict with other rules. We are also subject to the terms of our privacy policies and obligations to third parties related to privacy, data protection and information security. We strive to comply with applicable laws, regulations, policies and other legal obligations relating to privacy, data protection and information security to the extent possible. However, the regulatory framework for privacy and data protection worldwide is, and is likely to remain, uncertain for the foreseeable future, and it is possible that these or other actual or alleged obligations may be interpreted and applied in a manner that is inconsistent from one jurisdiction to another and may conflict with other rules or our practices.

We also expect that there will continue to be new laws, regulations and industry standards concerning privacy, data protection and information security proposed and enacted in various jurisdictions. For example, in May 2018, the General Data Protection Regulation (GDPR) went into effect in the European Union (EU). The GDPR imposed more stringent data protection requirements and provides greater penalties for noncompliance than previous data protection laws, including potential penalties of up to €20 million or 4% of annual global revenues. Further, following a referendum in June 2016 in which voters in the United Kingdom approved an exit from the EU, the United Kingdom government has initiated a process to leave the EU, known as Brexit. Brexit has created uncertainty with regard to the regulation of data protection in the United Kingdom. In particular, although the United Kingdom enacted a Data Protection Act in May 2018 that is designed to be consistent with the GDPR, uncertainty remains regarding how data transfers to and from the United Kingdom will be regulated. California enacted the California Consumer Privacy Act of 2018 (CCPA), which became effective January 1, 2020, that affords consumers expanded privacy protections. The CCPA was recently amended, and it is possible that it will be amended in the future. The CCPA gives California residents expanded rights to access and require deletion of their personal information, opt out of certain personal information sharing and receive detailed information about how their personal information is used. The CCPA also provides for civil penalties for violations, as well as a private right of action for data breaches that may increase data breach litigation.

[**Table of Contents**](#TOC001)

With laws and regulations such as the GDPR in the EU and the CCPA in the United States imposing new and relatively burdensome obligations, and with substantial uncertainty over the interpretation and application of these and other laws and regulations, we may face challenges in addressing their requirements and making necessary changes to our policies and practices, and may incur significant costs and expenses in an effort to do so. Any failure or perceived failure by us to comply with our privacy policies, our privacy-, data protection- or information security-related obligations to users or other third parties or any of our other legal obligations relating to privacy, data protection or information security may result in governmental investigations or enforcement actions, litigation, claims or public statements against us by consumer advocacy groups or others, and could result in significant liability or cause our users to lose trust in us, which could have an adverse effect on our reputation and business. Furthermore, the costs of compliance with, and other burdens imposed by, the laws, regulations and policies that are applicable to the businesses of our users may limit the adoption and use of, and reduce the overall demand for, our platform.

Additionally, if third parties we work with, such as vendors or developers, violate applicable laws or regulations or our policies, such violations may also put our users' content at risk and could in turn have an adverse effect on our business. Any significant change to applicable laws, regulations or industry practices regarding the collection, use, retention, security or disclosure of our users' content, or regarding the manner in which the express or implied consent of users for the collection, use, retention or disclosure of such content is 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 store and process user data or develop new services and features.

***We are subject to governmental export and import controls that could impair our ability to compete in international markets due to licensing requirements and subject us to liability if we are not in compliance with applicable laws.***

Our platform and associated products are subject to various restrictions under U.S. export control and sanctions laws and regulations, including the U.S. Department of Commerce's Export Administration Regulations (EAR) and various economic and trade sanctions regulations administered by the U.S. Department of the Treasury's Office of Foreign Assets Control. The U.S. export control laws and U.S. economic sanctions laws include restrictions or prohibitions on the sale or supply of certain products and services to U.S. embargoed or sanctioned countries, governments, persons and entities, and also require authorization for the export of certain encryption items. In addition, various countries regulate the import of certain encryption technology, including through import permitting and licensing requirements and have enacted or could enact laws that could limit our ability to distribute our platform or could limit our hosts' ability to implement our platform in those countries.

To the best of our knowledge, we have not made our software products available to customers, including users in embargoed or sanctioned countries, in apparent violation of the EAR; provided, however, that we do have one customer located in Russia. If we are found to be in violation of U.S. economic sanctions or export control laws, it could result in substantial fines and penalties for us and for the individuals working for us. We may also be adversely affected through other penalties, reputational harm, loss of access to certain markets or otherwise.

Changes in our platform, or changes in export, sanctions and import laws, may delay the introduction and sale of subscriptions to our platform in international markets, prevent our customers with international operations from using our platform or, in some cases, prevent the access or use of our platform to and from certain countries, governments, persons or entities altogether. Further, any change in export or import regulations, economic sanctions or related laws, shift in the enforcement or scope of existing regulations or change in the countries, governments, persons or technologies targeted by such regulations could result in decreased use of our platform or in our decreased ability to export or sell our platform to existing or potential customers with international operations. Any decreased use of our platform or limitation on our ability to export or sell our platform would likely harm our business.

***We may be subject to, or assist law enforcement with enforcement of, a variety of U.S. and international laws that could result in claims, increase the cost of operations or otherwise harm our business due to changes in the laws, changes in the interpretations of the laws, greater enforcement of the laws or investigations into compliance with the laws.***

We may be subject to, or assist law enforcement with enforcement of, various laws, including those covering copyright, indecent content, child protection, consumer protection, telecommunications services, taxation and similar matters. There may be instances where improper or illegal content has been shared on our platform without our knowledge. As a service provider, we do not monitor our platform to evaluate the legality of content shared on it. While to date

[**Table of Contents**](#TOC001)

we have not been subject to material legal or administrative actions as a result of this content, the laws in this area are currently in a state of flux and vary widely between jurisdictions. Accordingly, it may be possible that in the future we and our competitors may be subject to legal actions, along with the users who shared such content. In addition, regardless of any legal liability we may face, our reputation could be harmed should there be an incident generating extensive negative publicity about the content shared on our platform. Such publicity would harm our business.

We are also subject to consumer protection laws that may impact our sales and marketing efforts, including laws related to subscriptions, billing and auto-renewal. These laws, as well as any changes in these laws, could adversely affect our ability in the future to retain and upgrade customers and attract new customers for our planned future ThinkHub Cloud™ products. Additionally, we may from time to time in the future become the subject of inquiries and other actions by regulatory authorities as a result of our business practices, including our subscription, billing and renewal policies. Consumer protection laws may be interpreted or applied by regulatory authorities in a manner that could require us to make changes to our operations or incur fines, penalties or settlement expenses, which may result in harm to our business.

Our platform depends on the ability of our customers and users to access the internet. If we fail to anticipate developments in the law, or fail for any reason to comply with relevant law, our platform could be blocked or restricted, and we could be exposed to significant liability that could harm our business. We are also subject to various U.S. and international anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act, as well as other similar anti-bribery and anti-kickback laws and regulations. These laws and regulations generally prohibit companies and their employees and intermediaries from authorizing, offering or providing improper payments or benefits to officials and other recipients for improper purposes. Although we take precautions to prevent violations of these laws, our exposure for violating these laws increases as we continue to expand our international presence, and any failure to comply with such laws could harm our business.

#### Risks Related to this Offering and the Ownership of Our Securities

#### An active trading market for our securities may never develop or be sustained.
We have applied to list our Class A Common Stock and the Investor Warrants on the Nasdaq Capital Market under the symbols "THNK" and THNKW," respectively. However, we cannot assure you that an active trading market for our Class A Common Stock or the Investor Warrants will develop on that exchange or elsewhere or, if developed, that any market will be sustained. Accordingly, we cannot assure you of the likelihood that an active trading market for our Class A Common Stock or the Investor Warrants will develop or be maintained, your ability to sell your shares of our Class A Common Stock or the Investor Warrants when desired or the prices that you may obtain for your shares of Class A Common Stock or Investor Warrants.

#### The trading price of our securities may be volatile, and you could lose all or part of your investment.
Prior to this Offering, there has been no public market for shares of our Class A Common Stock or the Investor Warrants. The initial public offering price of the units was determined through negotiation between us and the underwriters. This price does not necessarily reflect the price at which investors in the market will be willing to buy and sell shares of our Class A Common Stock and/or the Investor Warrants following this Offering. In addition, the trading price of our Class A Common Stock and the Investor Warrants following this Offering is likely to be volatile and could be subject to fluctuations in response to various factors, some of which are beyond our control. These fluctuations could cause you to lose all or part of your investment in our Class A Common Stock and the Investor Warrants as you might be unable to sell your shares of Class A Common Stock or Investor Warrants at or above the price you paid in this Offering for the units. Factors that could cause fluctuations in the trading price of our Class A Common Stock and the Investor Warrants include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• price and volume fluctuations in the overall stock market from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• volatility in the trading prices and trading volumes of technology stocks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in operating performance and stock market valuations of other technology companies generally, or those in our industry in particular;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sales of shares of our Class A Common Stock and/or the Investor Warrants by us or our stockholders and/or warrant holders;

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• failure of securities analysts to maintain coverage of us, changes in financial estimates by securities analysts who follow our Company, or our failure to meet these estimates or the expectations of investors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the financial projections we may provide to the public, any changes in those projections, or our failure to meet those projections;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• announcements by us or our competitors of new products, features, or services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the public's reaction to our press releases, other public announcements and filings with the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• rumors and market speculation involving us or other companies in our industry;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated changes in our results of operations or fluctuations in our results of operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actual or anticipated developments in our business, our competitors' businesses or the competitive landscape generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• litigation involving us, our industry, or both, or investigations by regulators into our operations or those of our competitors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• developments or disputes concerning our intellectual property or other proprietary rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• announced or completed acquisitions of businesses, products, services or technologies by us or our competitors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• new laws or regulations or new interpretations of existing laws or regulations applicable to our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in accounting standards, policies, guidelines, interpretations or principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any significant change in our management; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• general economic conditions and slow or negative growth of our markets.

In recent years, the stock markets generally have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of listed companies. Broad market and industry factors may significantly affect the market price of our Class A Common Stock and/or the Investor Warrants, regardless of our actual operating performance. These fluctuations may be even more pronounced in the trading market for our Class A Common Stock and/or the Investor Warrants shortly following this Offering. If the market price of shares of our Class A Common Stock and/or the Investor Warrants after this Offering does not ever exceed the initial public offering price of the units, you may not realize any return on your investment in us and may lose some or all of your investment.

In addition, in the past, following periods of volatility in the overall market and in the market price of a particular company's securities, securities class action litigation has often been instituted against these companies. This litigation, if instituted against us, could result in substantial costs and a diversion of our management's attention and resources.

***Certain recent initial public offerings of companies with public floats comparable to our anticipated public float have experienced extreme volatility that was seemingly unrelated to the underlying performance of the respective company. We may experience similar volatility, which may make it difficult for prospective investors to assess the value of our Class A Common Stock or the Investor Warrants.***

In addition to the risks addressed above in "*— The trading price of our Class A Common Stock and the Investor Warrants may be volatile, and you could lose all or part of your investment.*," our Class A Common Stock and the Investor Warrants may be subject to extreme volatility that is seemingly unrelated to the underlying performance of our business. Recently, companies with comparable public floats and initial public offering sizes have experienced instances of extreme stock price run-ups followed by rapid price declines, and such stock price volatility was seemingly unrelated to the respective company's underlying performance. Although the specific cause of such volatility is unclear, our anticipated public float may amplify the impact the actions taken by a few stockholders have on the price of our Class A Common Stock or the Investor Warrants, which may cause the price of our Class A Common Stock and/or the Investor Warrants to deviate, potentially significantly, from a price that better reflects the underlying performance of our business. Should our Class A Common Stock or the Investor Warrants experience run-ups and declines that are seemingly unrelated to our actual or expected operating performance and financial condition or prospects, prospective investors may have

[**Table of Contents**](#TOC001)

difficulty assessing the rapidly changing value of our Class A Common Stock and the Investor Warrants. In addition, investors of in shares of our Class A Common Stock and/or Investor Warrants may experience losses, which may be material, if the price of our Class A Common Stock or the Investor Warrants decline after this Offering or if such investors purchase shares of our Class A Common Stock or Investor Warrants prior to any price decline.

***The dual class structure of our common stock as created in our amended and restated certificate of incorporation has the effect of concentrating voting control with those stockholders who held our stock prior to this Offering, including our executive officers, employees and directors and their affiliates, limiting your ability to influence corporate matters.***

Our Class B Common Stock has 10 votes per share, and our Class A Common Stock, which is the stock we are offering in this Offering, has one vote per share. Not including any exercise of the Investor Warrants, stockholders who hold shares of Class B Common Stock, including our executive officers, employees and directors and their affiliates, will together hold approximately 67% of the voting power of our outstanding capital stock following the completion of this Offering. Our directors, executive officers, employees and 5% stockholders and their respective affiliates will together hold, not including any exercise of the Investor Warrants, approximately 71% of the voting power of our outstanding voting capital stock following the completion of this Offering. Following the completion of this Offering, our founder, President and Chief Executive Officer, Michael Feldman, will hold, not including any exercise of the Investor Warrants, approximately 14.2% of our outstanding capital stock, but will control approximately 32% of the voting power of our outstanding voting capital. Therefore, these holders will have significant influence over our management and affairs and over all matters requiring stockholder approval, including election of directors and significant corporate transactions, such as a merger or other sale of T1V or our assets, for the foreseeable future. Each share of Class B Common Stock will be automatically converted into one share of Class A Common Stock upon the earlier of (i) the date that is six months after the date that the Co-Founders both no longer serve as an officer, director or are employed by T1V; (ii) the date that is six months after the death of the last to die of the Co-Founders; and (iii) the date specified by the holders of a majority of the then outstanding shares of Class B Common Stock, voting as a separate class.

In addition, the holders of Class B Common Stock collectively will continue to be able to control all matters submitted to our stockholders for approval even if their stock holdings represent less than a majority of the outstanding shares of our common stock. This concentrated control will limit your ability to influence corporate matters for the foreseeable future, and, as a result, the market price of our Class A Common Stock and the Investor Warrants could be adversely affected. Future transfers by holders of Class B Common Stock will generally result in those shares converting to Class A Common Stock, which will have the effect, over time, of increasing the relative voting power of those holders of Class B Common Stock who retain their shares in the long term. If, for example, Mr. Feldman retains a significant portion of his holdings of Class B Common Stock for an extended period of time, he could, in the future, control a majority of the combined voting power of our Class A Common Stock and Class B Common Stock. As a board member, Mr. Feldman owes a fiduciary duty to our stockholders and must act in good faith in a manner he reasonably believes to be in the best interests of our stockholders. As a stockholder, even a controlling stockholder, Mr. Feldman is entitled to vote his shares in his own interests, which may not always be in the interests of our stockholders generally.

***The dual class structure of our common stock as created in our amended and restated certificate of incorporation may limit our Class A Common Stock from being included in certain market indices and may also raise questions with Nasdaq, in connection with our application for the trading of our Class A Common Stock and the Investor Warrants on the Nasdaq Capital Market.***

In July 2017, FTSE Russell and Standard & Poor's announced that they would cease to allow most newly public companies utilizing dual or multi-class capital structures to be included in their indices. Affected indices include the Russell 2000 and the S&P 500, S&P MidCap 400 and S&P SmallCap 600, which together make up the S&P Composite 1500. Under the announced policies, our dual class capital structure would make us ineligible for inclusion in any of these indices, and as a result, mutual funds, exchange-traded funds and other investment vehicles that attempt to passively track these indices will not be investing in our stock. Nasdaq has also informed companies considering listing on any of the Nasdaq markets that they will closely review the terms of applicants having or contemplating dual or multi-class capital structures and we will need to assure that the terms of our Class A Common Stock and Class B Common Stock are acceptable to Nasdaq. It is possible that having a dual class structure may depress valuations of our Class A Common Stock and the Investor Warrants or depress our trading volume compared to those of other similar companies that do not have dual class structures.

[**Table of Contents**](#TOC001)

#### If you purchase the units in this Offering, you will incur immediate and substantial dilution in the book value of your investment.
The effective price of our Class A Common Stock being offered in this Offering is substantially higher than the pro forma net tangible book value per share of our Class A Common Stock and Class B Common Stock outstanding immediately following the completion of this Offering. Therefore, if you purchase units in this Offering at the assumed initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover of this prospectus, you will experience immediate dilution of $5.05 per share of Class A Common Stock, the difference between the effective price per share you pay for our Class A Common Stock in this Offering and the pro forma net tangible book value per share of the Class A Common Stock, after giving effect to the issuance of shares of our Class A Common Stock in this Offering. This dilution is due in large part to the fact that our earlier investors paid substantially less than the effective price of the Class A Common Stock paid by investors in this Offering, when they purchased their shares of common stock. In addition, we have issued options to purchase up to 736,375 shares of Class A Common Stock with an average weighted exercise price of $0.96 per share and warrants to purchase up to (i) 1,225 shares of Class A Common Stock exercisable pursuant to outstanding warrants, with a weighted exercise price of $0.0004 and (ii) 49,035 shares of Class A Common Stock with a weighted exercise price of $5.025 per share (which number of shares and exercise price assume an initial public offering price of $5.15 per unit, which is the midpoint of the range set forth on the cover page of this prospectus), to acquire our Class A Common Stock, all of which are at prices significantly below the effective price of the Class A Common Stock being offered in this Offering. To the extent outstanding options and/or warrants are ultimately exercised, there will be further dilution to investors purchasing the units in this Offering. In addition, if we issue additional equity securities, you will experience additional dilution.

***Conversion of our convertible debt securities will dilute the ownership interest of our existing and prospective stockholders if such conversion will be at a price lower than the price of our shares sold in this Offering, or may otherwise depress the price of our Class A Common Stock and the Investor Warrants.***

We currently intend to convert approximately $9.7 million in principal amount of convertible debt securities (including accrued interest) into shares of our Class A Common Stock and Class B Common Stock upon completion of this Offering. To the extent such conversion will be at a price lower than the price of our Class A Common Stock sold in this Offering, The conversion of such convertible debt securities will dilute the ownership interests of existing stockholders and investors in this Offering. Any future sales in the public market of our Class A Common Stock issuable upon such conversion of the convertible debt securities could adversely affect prevailing market prices of our Class A Common Stock.

***If we cannot satisfy, or continue to satisfy, the initial listing requirements and other rules of Nasdaq, our securities may not be listed or may be delisted, which could negatively impact the price of our securities and your ability to sell them.***

Even if our securities are listed on Nasdaq, we cannot assure you that our securities will continue to be listed on Nasdaq.

In addition, following this Offering, in order to maintain our listing on Nasdaq, we will be required to comply with certain rules of Nasdaq, including those regarding minimum stockholders' equity, minimum share price, minimum market value of publicly held shares, and various additional requirements. Even if we initially meet the listing requirements and other applicable rules of Nasdaq, we may not be able to continue to satisfy these requirements and applicable rules. If we are unable to satisfy Nasdaq criteria for maintaining our listing, our securities could be subject to delisting.

If Nasdaq does not list our securities, or subsequently delists our securities from trading, we could face significant consequences, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a limited availability for market quotations for our securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduced liquidity with respect to our securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a determination that our common stock is a "penny stock," which will require brokers trading in our common stock to adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our common stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• limited amount of news and analyst coverage; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a decreased ability to issue additional securities or obtain additional financing in the future.

[**Table of Contents**](#TOC001)

***Future sales and issuances of our capital stock or rights to purchase capital stock could result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to decline.***

We may issue additional securities following the completion of this Offering. Future sales and issuances of our capital stock or rights to purchase our capital stock could result in substantial dilution to our existing stockholders. We may sell Class A Common Stock, convertible securities and other equity securities in one or more transactions at prices and in a manner as we may determine from time to time. If we sell any such securities in subsequent transactions, investors may be materially diluted. New investors in such subsequent transactions could gain rights, preferences and privileges senior to those of holders of our Class A Common Stock.

***We will have broad discretion in the use of net proceeds from this Offering and may invest or spend the proceeds in ways with which you do not agree and in ways that may not yield a return.***

Except as otherwise specifically provided in this prospectus, we cannot specify with any certainty the particular uses of the net proceeds that we will receive from this Offering. Our management will have broad discretion over the use of net proceeds from this Offering, including for any of the purposes described in "Use of Proceeds," and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used appropriately. Investors may not agree with our decisions, and our use of the proceeds may not yield any return on your investment. 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 failure to apply the net proceeds of this Offering effectively could impair our ability to pursue our growth strategy or could require us to raise additional capital.

***Substantial future sales of shares of our Class A Common Stock and Class B Common Stock could cause the market price of our Class A Common Stock to decline.***

Sales of a substantial number of shares of our Class A Common Stock and Class B Common Stock (after converting to Class A Common Stock) in the public market following the completion of this Offering, or the perception that these sales might occur, could depress the market price of our Class A Common Stock and could impair our ability to raise capital through the sale of additional equity securities. We are unable to predict the effect that such sales may have on the prevailing market price of our Class A Common Stock.

Upon the completion of this Offering, we will have outstanding a total of 8,149,202 shares of Class A Common Stock and 2,457,638 shares of Class B Common Stock, assuming (i) the conversion, immediately prior to the completion of this Offering, of all outstanding shares of the Company's Series A Preferred Stock into 1,612,250 shares of Class B Common Stock; (ii) the conversion, immediately prior to the completion of this Offering, of all outstanding shares of the Company's Series B Preferred Stock into 1,617,650 shares of Class A Common Stock; (iii) the payment of the Series B Dividend, pursuant to the issuance of an aggregate of 312.296 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January 1, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus) (iv) the conversion, upon the completion of this Offering, of an aggregate of $3,357,730 in principal amount of certain convertible notes, plus $469,122 of accrued and unpaid interest thereon, as of January 1, 2023, into 1,007,504 shares of Class A Common Stock, plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $879 per day; (v) the conversion, upon the completion of this Offering, of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock); (vi) the conversion, upon the completion of this Offering, of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted); (vii) the conversion,

[**Table of Contents**](#TOC001)

upon the completion of this Offering, of an aggregate of $1,700,000 in original principal amount and accrued interest under the Decathlon Note, which was not previously convertible into 338,308 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (viii) the conversion, upon the completion of this Offering, of an aggregate of $564,000 in original principal amount and accrued interest under the Side Letter, which was not previously convertible, into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (ix) the conversion, upon the completion of this Offering, of an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (x) the conversion, upon the completion of this Offering, of an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xi) the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and the Co-Founder, which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; and (xii) the occurrence of the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part; and excluding (A) 2,457,638 shares of Class A Common Stock into which shares of Class B Common Stock are convertible, at any time, at a conversion rate of one share of Class A Common Stock for each share of Class B Common Stock converted; (B) 1,225 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.0004 per share; (C) 49,035 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $5.025 per share (assuming an initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus) and giving effect to the termination of warrants which would have been exercisable for 456,567 shares of Class A Common Stock, with a weighted average exercise price of $5.025, if such warrants had not been cancelled prior to the consummation of this Offering; (D) 736,375 shares of our Class A Common Stock issuable upon the exercise of options to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.96 per share; (E) 800,000 shares of our Class A Common Stock reserved for future issuance under our 2023 Plan, which will become effective in connection with this Offering; (F) 3,203,884 shares of our Class A Common Stock issuable upon the exercise of the Investor Warrants to be issued upon consummation of this Offering; and (G) 160,194 shares of our Class A Common Stock issuable upon the exercise of the Representative's Warrants to be issued upon consummation of this Offering which are exercisable for up to 5% of the aggregate number of shares of Class A Common Stock sold in this Offering, excluding any Representative's Warrants sold pursuant to the exercise of the Over-Allotment Option. Of these shares, only the shares of Class A Common Stock sold in this Offering will be freely tradable, without restriction, in the public market immediately after this Offering. All of our executive officers and directors and the holders of substantially all the shares of our capital stock and securities convertible into or exchangeable for our capital stock have entered into market standoff agreements with us or have entered or will enter into lock-up agreements with the underwriters that restrict their ability to transfer shares of our capital stock during the period ending on, and including, the 180<sup>th</sup> day after

[**Table of Contents**](#TOC001)

the completion of this Offering, subject to specified exceptions. We refer to such period as the lock-up period. We and the underwriters may permit certain stockholders who are subject to these market standoff agreements or lock-up agreements to sell shares prior to the expiration of the lock-up period. After the end of the lock-up period, all shares of Class A Common Stock outstanding as of [•], 2023, will become eligible for sale, of which shares held by directors, executive officers and other affiliates will be subject to volume limitations under Rule 144 under the Securities Act of 1933, as amended (the "Securities Act") and various vesting agreements.

In addition, we intend to register all 736,375 shares of Class A Common Stock that are issuable upon the exercise of the outstanding options, mentioned above, as well as any other shares of Class A Common Stock issuable upon exercise or settlement of any options or other equity incentives we may grant in the future for public resale under the Securities Act, pursuant to a Registration Statement on Form S-8 or as otherwise determined by our board of directors. Accordingly, these shares will become eligible for sale in the public market to the extent such options are exercised, subject to the lock-up agreements described above and compliance with applicable securities laws.

Further, we intend to register all of the shares of Class A Common Stock issuable upon the exercise of (i) the 1,225 shares of Class A Common Stock exercisable pursuant to outstanding warrants, with a weighted exercise price of $0.0004, mentioned above and (ii) 49,035 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $5.025 per share, also mentioned above, for public resale under the Securities Act, pursuant to a Registration Statement on Form S-1 or as otherwise determined by our board of directors. Accordingly, these shares will become eligible for sale in the public market to the extent such warrants are exercised, subject to the lock-up agreements described above and compliance with applicable securities laws.

***If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.***

As a public company, we will be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the Exchange Act), the Sarbanes-Oxley Act of 2002 (the Sarbanes-Oxley Act) and the rules and regulations of the applicable listing standards of the Nasdaq Capital Market. 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 controls over 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 and that information required to be disclosed in reports under the Exchange Act is accumulated and communicated to our principal executive and financial officers. We are also continuing to improve our internal control over financial reporting. In order to maintain and improve the effectiveness of our disclosure controls and procedures and internal control over financial reporting, we have expended, and anticipate that we will continue to expend, significant resources, including accounting-related costs and significant management oversight.

Our current controls and any new controls that we develop may become inadequate because of changes in conditions in our business. In addition, changes in accounting principles or interpretations could also challenge our internal controls and require that we establish new business processes, systems and controls to accommodate such changes. For example, we will need to implement new revenue recognition modules into our existing enterprise resource planning system to facilitate the preparation of our financial statements under ASC 606. We will also be required to adopt ASU 2016-02, *Leases* (Topic 842), which requires, among other things, lessees to recognize most leases on-balance sheet via a right of use asset and lease liability, beginning February 1, 2019. We have limited experience with implementing the systems and controls that will be necessary to operate as a public company, as well as adopting changes in accounting principles or interpretations mandated by the relevant regulatory bodies. Additionally, if these new systems, controls or standards and the associated process changes do not give rise to the benefits that we expect or do not operate as intended, it could adversely affect our financial reporting systems and processes, our ability to produce timely and accurate financial reports or the effectiveness of internal control over financial reporting. Moreover, our business may be harmed if we experience problems with any new systems and controls that result in delays in their implementation or increased costs to correct any post-implementation issues that may arise.

[**Table of Contents**](#TOC001)

Further, weaknesses in our disclosure controls and 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 business 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 also could adversely affect the results of periodic management evaluations and annual independent registered public accounting firm attestation reports regarding the effectiveness 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 trading price of our Class A Common Stock and the Investor Warrants. In addition, if we are unable to continue to meet these requirements, we may not be able to remain listed on the Nasdaq Capital Market. 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 formally attest to the effectiveness of our internal control over financial reporting until our first annual report filed with the SEC where we are an accelerated filer or a large accelerated filer. 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 harm our business and could cause a decline in the trading price of our Class A Common Stock and the Investor Warrants.

***Provisions in our corporate charter documents and under Delaware law may prevent or frustrate attempts by our stockholders to change our management or hinder efforts to acquire a controlling interest in us, and the market price of our Class A Common Stock may be lower as a result.***

There are provisions in our second amended and restated certificate of incorporation and amended and restated bylaws, as they will be in effect following this Offering, that may make it difficult for a third party to acquire, or attempt to acquire, control of T1V, even if a change in control was considered favorable by our stockholders.

Our charter documents, upon the completion of this Offering, will also contain other provisions that could have an anti-takeover effect, such as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• permitting the board of directors to establish the number of directors and fill any vacancies and newly created directorships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• prohibiting cumulative voting for directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• authorizing the issuance of "blank check" preferred stock that our board of directors could use to implement a stockholder rights plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• eliminating the ability of stockholders to call special meetings of stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our dual class common stock structure as described above.

Any provision in our second amended and restated certificate of incorporation or our amended and restated bylaws or Delaware law that has the effect of delaying or deterring a change in control could limit the opportunity for our stockholders to receive a premium for their shares of our Class A Common Stock and could also negatively affect the price that some investors are willing to pay for our Class A Common Stock.

***The market price of our Class A Common Stock and Investor Warrants and trading volume could decline if securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business.***

The trading market for our Class A Common Stock and Investor Warrants will depend in part on the research and reports that securities or industry analysts publish about us or our business. The analysts' estimates are based upon their own opinions and are often different from our estimates or expectations. If one or more of the analysts who cover us downgrade our Class A Common Stock or publish inaccurate or unfavorable research about our business, the price

[**Table of Contents**](#TOC001)

of our securities would likely decline. If few securities analysts commence coverage of us, or if one or more of these analysts cease coverage of us or fail to publish reports on us regularly, demand for our securities could decrease, which might cause the price and trading volume of our Class A Common Stock and the Investor Warrants to decline.

***We will incur costs and demands upon management as a result of complying with the laws and regulations affecting public companies in the United States, which may harm our business.***

As a public company listed in the United States, we will incur significant additional legal, accounting and other expenses. In addition, changing laws, regulations and standards relating to corporate governance and public disclosure, including regulations implemented by the SEC and Nasdaq, may increase legal and financial compliance costs and make some activities more time consuming. These laws, regulations and standards are subject to varying interpretations, and as a result, their application in practice may evolve over time as new guidance is provided by regulatory and governing bodies. We intend to invest resources to comply with evolving laws, regulations and standards, and this investment may result in increased general and administrative expenses and a diversion of management's time and attention from revenue-generating activities to compliance activities. If, notwithstanding our efforts, we fail to comply with new laws, regulations and standards, regulatory authorities may initiate legal proceedings against us and our business may be harmed.

Failure to comply with these rules might also make it more difficult for us to obtain certain types of insurance, including director and officer liability insurance, and we might be forced to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage. The impact of these events would also make it more difficult for us to attract and retain qualified persons to serve on our board of directors, on committees of our board of directors or as members of senior management.

***We are an "emerging growth company," and we intend to comply only with reduced disclosure requirements applicable to emerging growth companies. As a result, our Class A Common Stock could be less attractive to investors.***

We are an "emerging growth company," as defined in the Jumpstart Our Business Startups Act, and for as long as we continue to be an emerging growth company, we may choose to take advantage of exemptions from various reporting requirements applicable to other public companies but not to emerging growth companies, including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, 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 shareholder approval of any golden parachute payments not previously approved. We will remain an emerging growth company until the earlier of (i) the last day of the fiscal year (a) following the fifth anniversary of the completion of this Offering, (b) in which we have total annual gross revenue of over $1.235 billion or (c) in which we are deemed to be a large accelerated filer, which means the market value of our common stock held by non-affiliates exceeds $700 million as of the prior June 30<sup>th</sup> and (ii) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three-year period. We are also a "smaller reporting company," meaning that the market value of our stock held by non-affiliates plus the proposed aggregate amount of gross proceeds to us as a result of this Offering is less than $700 million and our annual revenue is less than $100 million during the most recently completed fiscal year. We may continue to be a smaller reporting company after this Offering if either (1) the market value of our stock held by non-affiliates is less than $250 million or (2) our annual revenue is less than $100 million during the most recently completed fiscal year and the market value of our stock held by non-affiliates is less than $700 million. If we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting company we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report on Form 10-K and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation.

We cannot predict if investors will find our Class A Common Stock and Investor Warrants less attractive if we choose to rely on these exemptions. If some investors find our Class A Common Stock and Investor Warrants less attractive as a result of any choices to reduce future disclosure, there may be a less active trading market for our Class A Common Stock and Investor Warrants, and our stock price may be more volatile.

[**Table of Contents**](#TOC001)

***Our status as an "emerging growth company" under the JOBS Act may make it more difficult to raise capital as and when we need it.***

Because of the exemptions from various reporting requirements provided to us as an "emerging growth company" and because we will have an extended transition period for complying with new or revised financial accounting standards, we may be less attractive to investors, and it may be difficult for us to raise additional capital as and when we need it. Investors may be unable to compare our business with other companies in our industry if they believe that our financial accounting is not as transparent as other companies in our industry. If we are unable to raise additional capital as and when we need it, our financial condition and results of operations may be materially and adversely affected.

#### We do not intend to pay cash dividends for the foreseeable future.
We have never declared nor paid cash dividends on our capital stock. We currently intend to retain any future earnings to finance the operation and expansion of our business, and we do not expect to declare or pay any cash dividends in the foreseeable future. Any determination to declare or pay dividends in the future will be at the discretion of our board of directors, subject to applicable laws and dependent upon a number of factors, including our earnings, capital requirements and overall financial condition. In addition, terms of any future debt or preferred securities may further restrict our ability to pay dividends on our common stock. As a result, stockholders must rely on sales of their Class A Common Stock and/or Investor Warrants after price appreciation as the only way to realize any future gains on their investment. The market price for our Class A Common Stock and/or Investor Warrants may never exceed, and may fall below, the price that you pay for the units in this Offering.

***Our second amended and restated certificate of incorporation will designate the Court of Chancery of the State of Delaware as the exclusive forum for certain disputes between us and our stockholders, which could limit our stockholders' ability to choose the judicial forum for disputes with us or our directors, officers or employees.***

Our second amended and restated certificate of incorporation, which will become effective immediately prior to the completion of this Offering, will provide that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if and only if the Court of Chancery of the State of Delaware lacks subject matter jurisdiction, any state court located within the State of Delaware or, if and only if all such state courts lack subject matter jurisdiction, the federal district court for the District of Delaware) and any appellate court therefrom will be the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers, or other employees to us or our stockholders, (iii) any action arising pursuant to any provision of the Delaware General Corporation Law, or the second amended and restated certificate of incorporation or the amended and restated bylaws (as each may be amended from time to time); (iv) any action to interpret, apply, enforce or determine the validity of our second amended and restated certificate of incorporation or amended and restated bylaws (as each may be amended from time to time, including any right, obligation or remedy thereunder); or (v) any claim or cause of action against us or any of our current or former directors, officers or employees that is governed by the internal affairs doctrine, in all cases to the fullest extent permitted by law and subject to the court having personal jurisdiction over indispensable parties named as defendants.

Our second amended and restated certificate of incorporation will also provide that any person or entity purchasing or otherwise acquiring any interest in any of our securities shall be deemed to have notice of and consented to this provision. This exclusive-forum provision may limit a stockholder's ability to bring a claim in a judicial forum of its choosing for disputes with us or our directors, officers or other employees, which may discourage lawsuits against us and our directors, officers and other employees.

If a court were to find this exclusive-forum provision in our second amended and restated certificate of incorporation to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving the dispute in other jurisdictions, which could harm our results of operations.

[**Table of Contents**](#TOC001)

#### We have agreed to indemnify our officers and directors against lawsuits to the fullest extent of the law.
Delaware law permits the indemnification of officers and directors against expenses incurred in successfully defending against a claim. Delaware law also authorizes Delaware corporations to indemnify their officers and directors against expenses and liabilities incurred because of their being or having been an officer or director. Our organizational documents provide for this indemnification to the fullest extent permitted by Delaware law.

We also have entered into indemnification agreements with our directors and officers, whereby we have agreed to indemnify our directors and officers to the fullest extent permitted by law, including indemnification against expenses and liabilities incurred in legal proceedings to which the director or officer was, or is threatened to be made, a party by reason of the fact that such director or officer is or was a director, officer, employee or agent of the Company, provided that such director or officer acted in good faith and in a manner that the director or officer reasonably believed to be in, or not opposed to, the best interest of the Company.

We maintain insurance policies that indemnify our directors and officers against various liabilities arising under the Securities Act and the Exchange Act that might be incurred by any director or officer in his or her capacity as such.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Company pursuant to provisions of the laws of the State of Delaware, the Company has been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

#### General Risks

#### Our business may be significantly impacted by a change in the economy, including any resulting effect on consumer or business spending.
Our business may be affected by changes in the economy generally, including any resulting effect on spending by our customers. While some of our customers may consider our platform to be a cost-saving purchase, decreasing the need for business travel, others may view a subscription to our platform as a discretionary purchase, and our customers may reduce their discretionary spending on our platform during an economic downturn. If an economic downturn were to occur, we may experience such a reduction in demand and loss of customers, especially in the event of a prolonged recessionary period.

#### Our business could be disrupted by catastrophic events.
Occurrence of any catastrophic event, including earthquake, fire, flood, tsunami or other weather event, power loss, telecommunications failure, software or hardware malfunctions, cyber-attack, war or terrorist attack, could result in lengthy interruptions in our service. In addition, acts of terrorism could cause disruptions to the internet or the economy as a whole. Even with our disaster recovery arrangements, our service could be interrupted. If our systems were to fail or be negatively impacted as a result of a natural disaster or other event, our ability to deliver products to our users would be impaired, or we could lose critical data. If we are unable to develop adequate plans to ensure that our business functions continue to operate during and after a disaster and to execute successfully on those plans in the event of a disaster or emergency, our business would be harmed.

#### We are exposed to the credit and other counterparty risk of our customers in the ordinary course of our business.
Our customers have varying degrees of creditworthiness, and we may not always be able to fully anticipate or detect deterioration in their creditworthiness and overall financial condition, which could expose us to an increased risk of nonpayment under our contracts with them. In the event that a material customer or customers default on their payment obligations to us, discontinue buying services from us or use their buying power with us to reduce its revenue, this could materially adversely affect our financial condition, results of operations or cash flows.

[**Table of Contents**](#TOC001)

#### We will incur significant accounting and administrative costs as a publicly traded corporation that impact our financial condition.
As a publicly traded corporation, we will incur certain costs to comply with regulatory requirements. If regulatory requirements were to become more stringent or if controls thought to be effective later fail, we may be forced to make additional expenditures, the amounts of which could be material. Some of our competitors are privately owned so their comparatively lower accounting and administrative costs can be a competitive disadvantage for us. Should our sales continue to decline or if we are unsuccessful at increasing prices to cover higher expenditures for internal controls and audits, our costs associated with regulatory compliance will rise as a percentage of sales.

#### Our success is highly dependent on the evolution of our overall market and on general economic conditions.
The market for collaboration technology and services is evolving rapidly. Although certain industry analysts project significant growth for this market, their projections may not be realized. Our future growth depends on broad acceptance and adoption of collaboration technologies and services. There can be no assurance that this market will grow, that our offerings will be adopted or that businesses will purchase our collaboration technologies and services. If we are unable to react quickly to changes in the market, if the market fails to develop or develops more slowly than expected, or if our services do not achieve market acceptance, then we are unlikely to achieve profitability. Additionally, adverse economic conditions may cause a decline in business and consumer spending which could adversely affect our business and financial performance.

**IN ADDITION TO THE ABOVE RISKS, BUSINESSES ARE OFTEN SUBJECT TO RISKS NOT FORESEEN OR FULLY APPRECIATED BY MANAGEMENT. IN REVIEWING THIS FILING, POTENTIAL INVESTORS SHOULD KEEP IN MIND THAT OTHER POSSIBLE RISKS MAY ADVERSELY IMPACT THE COMPANY'S BUSINESS OPERATIONS AND THE VALUE OF THE COMPANY'S SECURITIES.**

[**Table of Contents**](#TOC001)

#### CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This prospectus, including the sections entitled "Prospectus Summary," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business," contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, concerning our business, operations and financial performance and condition, as well as our plans, objectives and expectations for our business operations and financial performance and condition that are based on our management's belief and assumptions and on information currently available to our management. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth, and 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. Forward-looking statements in this prospectus include, without limitation, statements about:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• customer acceptance and demand for our collaboration services and products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to compete effectively in the visual collaboration market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the quality and reliability of our services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the prices for our products and services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the increased compensation costs to hire and retain qualified employees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• customer renewal rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risks related to the degree to which our sales, now or in the future, depend on certain large channel partner relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• customer acquisition costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• actions by our competitors, including price reductions for their competitive services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to innovate technologically, and, in particular, our ability to develop next generation visual collaboration technology;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to satisfy the standards for continued listing of our common stock on the Nasdaq Capital Market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in our capital structure and/or stockholder mix;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the costs, disruption, and diversion of management's attention associated with campaigns commenced by activist investors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our management's ability to execute its plans, strategies and objectives for future operations.

In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed in the section entitled "Risk Factors" and elsewhere in this prospectus. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. You should read this prospectus and the documents that we reference in this prospectus and have filed with the SEC as exhibits to the registration statement, of which this prospectus is a part, 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.

[**Table of Contents**](#TOC001)

The forward-looking statements in this prospectus represent our views as of the date of this prospectus. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we assume no obligation to update or revise any forward-looking statements except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this prospectus.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this prospectus, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and you are cautioned not to rely unduly upon these statements.

[**Table of Contents**](#TOC001)

#### MARKET AND INDUSTRY DATA
We obtained the industry, market and competitive position data used throughout this prospectus from our own internal estimates and research, as well as from independent market research, industry and general publications and surveys, governmental agencies and publicly available information in addition to research, surveys and studies conducted by third parties. Internal estimates are derived from publicly available information released by industry analysts and third-party sources, our internal research and our industry experience, and are based on assumptions made by us based on such data and our knowledge of our industry and market, which we believe to be reasonable. In some cases, we do not expressly refer to the sources from which this data is derived. In that regard, when we refer to one or more sources of this type of data in any paragraph, you should assume that other data of this type appearing in the same paragraph is derived from the same sources, unless otherwise expressly stated or the context otherwise requires. In addition, while we believe the industry, market and competitive position data included in this prospectus is reliable and based on reasonable assumptions, such data involve risks and uncertainties and are subject to change based on various factors, including those discussed in the section entitled "Risk Factors." These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties or by us.

[**Table of Contents**](#TOC001)

#### USE OF PROCEEDS
We estimate that the net proceeds from our issuance and sale of shares of our Class A Common Stock in this Offering will be approximately $14,444,337, assuming an initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

Each $1.00 increase or decrease in the assumed initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus, would increase or decrease, as applicable, the net proceeds to us from this Offering by approximately $2,915,535, assuming the number of shares of Class A Common Stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us. We may also increase or decrease the number of shares of Class A Common Stock we are offering. Each increase or decrease of 1.0 million shares in the number of shares of Class A Common Stock we are offering would increase or decrease, as applicable, the net proceeds to us from this Offering by approximately $4,686,500, assuming the assumed initial public offering price to the public remains the same, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us. We do not expect that a change in the initial price to the public or the number of shares by these amounts would have a material effect on the uses of the proceeds from this Offering, although it may accelerate the time at which we will need to seek additional capital.

The principal purposes of this Offering are to increase our capitalization and financial flexibility and create a public market for our Class A Common Stock.

We currently intend to use the net proceeds from this Offering as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• approximately $2 million for sales and marketing of ThinkHub Cloud™ product offerings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• approximately $2 million for research and development;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• approximately $2.00 million to repay outstanding indebtedness to certain existing creditors, as provided below, including payment of accrued and unpaid interest thereon as well as fees related to conversion of indebtedness into shares of Class A Common Stock upon the completion of this Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the remainder, if any, for working capital and other general corporate purposes.

We intend repay up to an aggregate of approximately $2.00 million in outstanding indebtedness from the net proceeds of this Offering, allocated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Approximately $1.5 million in outstanding indebtedness, including accrued and unpaid interest thereon to Decathlon in repayment of a revenue loan, as well as fees paid in connection with an agreement to convert certain outstanding indebtedness into shares of Class A Common Stock at the closing of this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Approximately $100,000 in outstanding convertible note interest on a convertible promissory note in the original principal amount of $800,000 payable to WH&W, which principal amount is being converted into shares of Class A Common Stock and Class B Common Stock upon the completion of this Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Approximately $145,000 in outstanding indebtedness in repayment of a revenue loan to WH&W, an affiliated stockholder of which John Stein, one of our directors, who is resigning as a director of the Company, upon the closing of this Offering, and who is also a Co-Founder of Fidelis Capital, LLC, the investment sub-advisor of WH&W, which includes an IPO deferral fee of $22,500;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Approximately $145,000 in outstanding indebtedness in repayment of a revenue loan to Christopher McKee, one of our directors, who is resigning as director of the Company, upon the closing of this Offering, and who is also the Manager of T1 Investment, which includes an IPO deferral fee of $22,500; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Approximately $114,000 in indebtedness relating to outstanding loans from Ross Annable, a 5% shareholder of the Company.

[**Table of Contents**](#TOC001)

In addition, we currently intend to refinance approximately $213,000 of outstanding indebtedness, within 30 days after the completion of this Offering. Furthermore, we have a payroll tax liability of approximately $408,000. In the event that we are unable to refinance all or a portion of such outstanding indebtedness, or we are unable to reach an installment agreement with the IRS, we may be required to use up to an additional $621,000 of the net proceeds from this Offering to repay outstanding indebtedness as well as the tax liability. The indebtedness we currently intend to refinance in such timeframe includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Approximately $213,000 in outstanding indebtedness in repayment of the non-convertible interest on a convertible note to WH&W, an affiliated stockholder of which John Stein, one of our directors, who is resigning as a director of the Company, upon the closing of this Offering, and who is also a Co-Founder of Fidelis Capital, LLC, the investment sub-advisor of WH&W.

In addition, we currently have approximately $408,000 in Covid-related Payroll Tax Liability, related to the Employer Social Security Tax Covid Relief Act, and Employee Retention Credits taken before such credits were terminated retroactively by Legislation in November 2021. The Company has been making regular payments while applying for an installment payment agreement with the IRS. In the event that an installment agreement is not granted, the Company would repay the approximately $408,000.

We have based these estimates on assumptions that may prove to be wrong, and we could utilize our available capital resources sooner than we expect. The expected use of net proceeds from this Offering represents our intentions based upon our present plans and business conditions. We cannot specify with certainty all of the particular uses for the net proceeds to be received upon the completion of this Offering. Due to uncertainties inherent in our business, it is difficult to estimate the exact amounts of the net proceeds that will be used for any particular purpose. We may use our existing cash and the future payments, if any, to fund our operations, which may alter the amount of net proceeds used for a particular purpose. In addition, the amount, allocation and timing of our actual expenditures will depend upon numerous factors, including our ability to attract and hire qualified candidates, rate of adoption of our products and, specifically, ThinkHub Cloud™, any infringement of our patents and specific larger customer opportunities that could require investment. Accordingly, we will have broad discretion in using these proceeds.

Based on our current plans, we believe that our existing cash, together with the net proceeds from this Offering and will be sufficient to fund our operating expenses and capital expenditure requirements until at least [•], 2024 (12 months after the completion of this Offering), but may be less depending on the aggregate amount of net proceeds we receive in this Offering, including as a result of the fact that we will not receive net proceeds from the sale of any of the over-allotment shares by the underwriters, pursuant their Over-Allotment Option.

Pending the uses described above, we plan to invest the net proceeds of this Offering in short- and immediate-term, interest-bearing obligations, investment-grade instruments, certificates of deposit or direct or guaranteed obligations of the U.S. government.

[**Table of Contents**](#TOC001)

#### DIVIDEND POLICY
We have never declared or paid cash dividends on our capital stock. We currently intend to retain all available funds and future earnings, if any, to fund the development and expansion of our business, and we do not anticipate paying any cash dividends in the foreseeable future. Any future determination regarding the declaration and payment of dividends, if any, will be at the discretion of our board of directors and will depend on then-existing conditions, including our financial condition, operating results, contractual restrictions, capital requirements, business prospects and other factors our board of directors may deem relevant. In addition, we may enter into agreements in the future that could contain restrictions on payments of cash dividends. Investors should not purchase the units with the expectation of receiving cash dividends.

Our board of directors has authorized and approved, subject to the approval of our stockholders an amendment to our certificate of incorporation to provide for the declaration and payment of the Series B Dividend in shares of our Class A Common Stock upon the conversion of our shares of Series B Preferred Stock in connection with this Offering.

[**Table of Contents**](#TOC001)

#### CAPITALIZATION
The following table sets forth our cash, cash equivalents and our capitalization as of September 30, 2022, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on an actual basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on a pro forma basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the reclassification of all outstanding shares of our common stock into an equivalent number of shares of our Class A Common Stock, as if such reclassification had occurred on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the conversion of all outstanding shares of the Company's Series A Preferred Stock into 1,612,250 shares of Class B Common Stock, immediately prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the conversion of all outstanding shares of the Company's Series B Preferred Stock into 1,617,650 shares of Class A Common Stock, immediately prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the payment of the Series B Dividend, pursuant to the issuance of 322,161 shares of Class A Common Stock to the holders of Series B Preferred Stock, upon the conversion of the outstanding shares of Series B Preferred Stock, prior to the completion of this Offering, into shares of Class A Common Stock, as if such dividend had been paid on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the conversion of an aggregate of $3,415,369 in principal amount of certain convertible notes, plus $413,949 of accrued and unpaid interest thereon, into 1,029,768 shares of Class A Common Stock, prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the conversion of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $632,811 of accrued and unpaid interest thereon, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted), prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the conversion of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted), prior the completion of this Offering, as if such conversion had occurred on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the conversion of $461,587 in principal amount of notes payable to the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon, into 152,595 shares of Class A Common Stock, prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) the occurrence of the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) the conversion of $1,700,000 of accrued and unpaid interest thereon of revenue loans held by Decathlon into 338,308 shares of Class A Common Stock, $282,000 of accrued and unpaid interest thereon of revenue loans held by WH&W into 56,119 shares of Class A Common Stock, $282,000 of accrued and unpaid interest thereon of revenue loans held by Christopher McKee into 56,119 shares of Class A Common Stock, and $200,000 of accrued and unpaid interest thereon of notes payable held by Ross Annable into 39,801 shares of Class A Common Stock prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022;

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) the exercise of warrants for 137,400 shares of Class A Common Stock, with a weighted average exercise price of $0.004, prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) the termination of warrants which would have been exercisable for 689,850 shares of Class A Common Stock, with a weighted average exercise price of $5.025, prior to the completion of this Offering, as if such warrants had been cancelled on September 30, 2022;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) the issuance of warrants to Decathlon exercisable for 33,831 shares of Class A Common Stock, to WH&W exercisable for 5,612 shares of Class A Common Stock, to Christopher McKee for the purchase of 5,612 shares of Class A Common Stock, and to Ross Annable exercisable for 3,980 shares of Class A Common Stock, all at an exercise price of $5.025 per share, as if the conversion occurred on September 30, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on a pro forma as adjusted basis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) our issuance and sale of shares of Class A Common Stock in this Offering at an assumed initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus, with value of $0.125 attributed to each Investor Warrant included, after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the repayment of approximately $1.705 million in principal amount of outstanding indebtedness, including accrued and unpaid interest thereon, owed to certain of the Company's creditors, including certain affiliates of the Company, from the net proceeds of this Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the payment of $250,000 in fees in addition to the obligation to Decathlon, $22,500 in fees in addition to the obligation to WH&W, and $22,500 in fees in addition to the obligation to Christopher McKee related to the Company's amendment of its revenue loans in April 2022, which extended the maturity date to June 30, 2023 and which shall be due and payable upon the maturity date;

The pro forma and pro forma as adjusted information below 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 information in conjunction with our financial statements and the related notes included in this prospectus and the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and other financial information contained in this prospectus.

---

| | | | |
|:---|:---|:---|:---|
|  | **As of September 30, 2022** | **As of September 30, 2022** | **As of September 30, 2022** |
|  **Capitalization in U.S. Dollars** | **Actual** | **Pro Forma** | **Pro Forma As Adjusted<sup>(1)(2)</sup>** |
|  Cash | $142928 | $142928 | $12577478 |
|  Debt |  |  |  |
| &nbsp;&nbsp;&nbsp; Line of credit | 42320 | 42320 | 42320 |
| &nbsp;&nbsp;&nbsp; Advances under factoring arrangements | 238200 | 238200 | 238200 |
| &nbsp;&nbsp;&nbsp; Convertible notes payable, current portion | 745391 | 84786 | 84786 |
| &nbsp;&nbsp;&nbsp; Convertible notes payable at fair value, current portion | 6677312 |  |  |
| &nbsp;&nbsp;&nbsp; Current portion of long-term debt, net of discount on debt | 1613917 | 1401597 | 63917 |
| &nbsp;&nbsp;&nbsp; Related party notes payable | 586288 | 100000 |  |
|  Long-term debt |  |  |  |
| &nbsp;&nbsp;&nbsp; Long-term debt, less current portion and discount on debt | 2164201 | 2164201 | 2164201 |
| &nbsp;&nbsp;&nbsp; Warrant liability | 1609527 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Debt | 13677156 | 4031104 | 2593424 |
|  Mezzanine Equity |  |  |  |

---

[**Table of Contents**](#TOC001)

---

| | | | |
|:---|:---|:---|:---|
|  | **As of September 30, 2022** | **As of September 30, 2022** | **As of September 30, 2022** |
|  **Capitalization in U.S. Dollars** | **Actual** | **Pro Forma** | **Pro Forma As Adjusted<sup>(1)(2)</sup>** |
| &nbsp;&nbsp;&nbsp; Series A-1 preferred stock, $0.001 par value, 940, 0, and 0 shares designated, 940, 0, and 0 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively | 71505 |  |  |
| &nbsp;&nbsp;&nbsp; Series A-2 preferred stock, $0.001 par value, 17,036, 0, and 0 shares designated, 17,036, 0, and 0 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively | 1079950 |  |  |
| &nbsp;&nbsp;&nbsp; Series A-3 preferred stock, $0.001 par value, 20,442, 0, and 0 shares designated, 20,442, 0, and 0 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively | 1356016 |  |  |
| &nbsp;&nbsp;&nbsp; Series A-4 preferred stock, $0.001 par value, 18,893, 0, and 0 shares designated, 18,893, 0, and 0 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively | 1757730 |  |  |
| &nbsp;&nbsp;&nbsp; Series A-5 preferred stock, $0.001 par value, 7,179, 0, and 0 shares designated, 7,179, 0, and 0 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively | 762784 |  |  |
| &nbsp;&nbsp;&nbsp; Series B preferred stock, $0.001 par value, 78,222, 0, and 0 shares designated, 38,645, 0, and 0 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively | 5175448 |  |  |
| &nbsp;&nbsp;&nbsp; Preferred stock, $0.001 par value, 0, 10,000,000 and 10,000,000 shares designated, 0, 0, and 0 shares issued and outstanding on an actual, pro forma, and pro forma as adjusted basis, respectively |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Mezzanine Equity | 10203433 |  |  |
|  Stockholders' deficit |  |  |  |
|  Common stock, $0.001 par value, 300,000, 0, and 0 shares authorized, 33,807, 0, and 0 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively |  |  |  |
|  Class A common stock, $0.001 par value, 0, 150,000,000, and 150,000,000 shares authorized, 0, 4,974,909, and 8,178,793 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively |  | 4975 | 8179 |
|  Class B common stock, $0.001 par value, 0, 10,000,000, and 10,000,000 shares authorized, 0, 2,457,638, and 2,457,638 shares issued and outstanding on an actual, pro forma and pro forma as adjusted basis, respectively |  | 2458 | 2458 |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital |  | 22837600 | 39334396 |
| &nbsp;&nbsp;&nbsp; Accumulated deficit | (31472897) | (31512163) | (33860113) |
| &nbsp;&nbsp;&nbsp; Total Stockholders' equity (deficit) | (31472897) | (8667130) | 5484920 |
|  Total capitalization | $(7592308) | $(4636026) | $8078344 |

---

____________

(1) Each $1.00 increase (decrease) in the assumed initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus, would increase (decrease) the pro forma as adjusted amount of each of cash and cash equivalents, marketable securities, total stockholders' deficit and total liabilities, convertible preferred stock and stockholders' deficit by approximately $2,995,233, assuming that the number of units offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting estimated underwriting discounts and commissions. Similarly, each increase (decrease) of 1.0 million shares in the number of units offered by us at the assumed initial public offering price per unit would increase (decrease) the pro forma as adjusted amount of each of cash and cash equivalents, marketable securities, total stockholders' deficit and total liabilities, convertible preferred stock and stockholders' deficit by approximately $4,635,000, assuming the initial public offering price of $5.15 per unit remains the same, and after deducting estimated underwriting discounts and commissions.

[**Table of Contents**](#TOC001)

(2) The pro forma as adjusted column in the table above gives effect to (i) the issuance of shares of Class A Common Stock upon the automatic conversion of $0 in principal amount of outstanding convertible promissory notes convertible at the assumed initial public offering price of $5.15 per unit, upon the completion of this Offering and (ii) the repayment of certain convertible indebtedness in an aggregate principal amount of $2.0 million, from the net proceeds of this Offering.

The number of shares of Class A Common Stock and Class B Common Stock issued and outstanding pro forma and pro forma as adjusted in the table above is based on (i) the reclassification of all outstanding shares of our common stock into an equivalent number of shares of our Class A Common Stock as if such reclassification had occurred on September 30, 2022; (ii) the conversion of all outstanding shares of the Company's Series A Preferred Stock into 1,612,250 shares of Class B Common Stock, immediately prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022; (iii) the conversion of all outstanding shares of the Company's Series B Preferred Stock into 1,617,650 shares of Class A Common Stock, immediately prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022; (iv) the payment of the Series B Dividend, pursuant to the issuance of an aggregate of 322,161 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), as if such dividend had been paid on September 30, 2022; (v) the conversion, upon the completion of this Offering, of an aggregate of $3,357,730 in principal amount of certain convertible notes, plus $469,122 of accrued and unpaid interest thereon, as of January 1, 2023, into 1,007,504 shares of Class A Common Stock, plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $879 per day, as if such conversion had occurred on September 30, 2022; (vi) the conversion, upon the completion of this Offering, of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock), as if such conversion had occurred on September 30, 2022; (vii) the conversion, upon the completion of this Offering, of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted), as if such conversion had occurred on September 30, 2022; (viii) the conversion, upon the completion of this Offering, of an aggregate of $1,700,000 in original principal amount and accrued interest under the Decathlon Note, which was not previously convertible into 338,308 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit;(ix) the conversion, upon the completion of this Offering, of an aggregate of $564,000 in original principal amount and accrued interest under the Side Letter, which was not previously convertible, into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (x) the conversion, upon the completion of this Offering, of an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xi) the conversion, upon the completion of this Offering, of an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering

[**Table of Contents**](#TOC001)

price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xii) the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and the Co-Founder, which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xiii) the exercise, upon the completion of this Offering, of warrants for an aggregate of 137,400 shares of Class A Common Stock, at an exercise price of $0.004 per share by Christopher McKee, WH&W and Decathlon; and (xiv) the occurrence of the Split at a ratio of 25-for-1, which was authorized and approved by our board of directors, which is subject to approval of our stockholders, and which will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part; and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2,457,638 shares of Class A Common Stock into which shares of Class B Common Stock are convertible, at any time, at a conversion rate of one share of Class A Common Stock for each share of Class B Common Stock converted; Class B Common Stock are convertible, at any time, at a conversion rate of one share of Class A Common Stock for each share of Class B Common Stock converted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,225 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.0004 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 49,035 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $5.025 per share (assuming an initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus) and giving effect to the termination of warrants which would have been exercisable for 456,567 shares of Class A Common Stock, with a weighted average exercise price of $5.025, if such warrants had not been cancelled prior to the consummation of this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 736,375 shares of our Class A Common Stock issuable upon the exercise of options to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.96 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 800,000 shares of our Class A Common Stock reserved for future issuance under our 2023 Plan, which will become effective in connection with this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,203,884 shares of our Class A Common Stock issuable upon the exercise of the Investor Warrants to be issued upon consummation of this Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 160,194 shares of our Class A Common Stock issuable upon the exercise of the Representative's Warrants to be issued upon consummation of this Offering which are exercisable for up to 5% of the aggregate number of shares of Class A Common Stock sold in this Offering, excluding any Representative's Warrants sold pursuant to the exercise of the Over-Allotment Option.

[**Table of Contents**](#TOC001)

#### DILUTION
If you invest in our Class A Common Stock in this Offering, your ownership interest will be immediately diluted to the extent of the difference between the initial public offering price per share and the pro forma as adjusted net tangible book value per share of our Class A Common Stock after this Offering.

As of September 30, 2022, we have a pro forma net tangible book value (deficit) of $5,886,725, or $0.67 per share. Pro forma net tangible book value per share represents the amount of our total tangible assets less our total liabilities, divided by the number of shares of our Class A Common Stock and Class B Common Stock outstanding as of September 30, 2022, after giving effect to all of the pro forma adjustments described in "Capitalization," including: (i) the reclassification of all outstanding shares of our common stock into an equivalent number of shares of our Class A Common Stock as if such reclassification had occurred on September 30, 2022; (ii) the conversion of all outstanding shares of the Company's Series A Preferred Stock into 1,612,250 shares of Class B Common Stock, immediately prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022; (iii) the conversion of all outstanding shares of the Company's Series B Preferred Stock into 1,617,650 shares of Class A Common Stock, immediately prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022; (iv) the payment of the Series B Dividend, pursuant to the issuance of an aggregate of 322,161 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), as if such dividend had been paid on September 30, 2022; (v) the conversion, upon the completion of this Offering, of an aggregate of $3,357,730 in principal amount of certain convertible notes, plus $469,122 of accrued and unpaid interest thereon, as of January 1, 2023, into 1,007,504 shares of Class A Common Stock, plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $879 per day, as if such conversion had occurred on September 30, 2022; (vi) the conversion, upon the completion of this Offering, of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock), as if such conversion had occurred on September 30, 2022; (vii) the conversion, upon the completion of this Offering, of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted), as if such conversion had occurred on September 30, 2022; (viii) the conversion, upon the completion of this Offering, of an aggregate of $1,700,000 in original principal amount and accrued interest under the Decathlon Note, which was not previously convertible into 338,308 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit;(ix) the conversion, upon the completion of this Offering, of an aggregate of $564,000 in original principal amount and accrued interest under the Side Letter, which was not previously convertible, into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (x) the conversion, upon the completion of this Offering, of an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xi) the conversion,

[**Table of Contents**](#TOC001)

upon the completion of this Offering, of an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xii) the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and the Co-Founder, which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit, (xiii) the exercise, upon the completion of this Offering, of warrants for an aggregate of 137,400 shares of Class A Common Stock, at an exercise price of $0.004 per share, by Christopher McKee, WH&W and Decathlon; and (xiv) the occurrence of the Split at a ratio of 25-for-1, which was authorized and approved by our board of directors, which is subject to approval of our stockholders, and which will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part.

After giving further effect to the sale of shares of Class A Common Stock that we are offering at an assumed initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value as of September 30, 2022, would have been approximately $1,045,145, or approximately $0.10 per share. This amount represents an immediate increase in pro forma net tangible book value of $4.57 per share to our existing stockholders and an immediate dilution in pro forma net tangible book value of approximately $5.05 per share to new investors purchasing units in this Offering.

Dilution per share to new investors is determined by subtracting pro forma as adjusted net tangible book value per share after this Offering from the initial public offering price per share paid by new investors. The following table illustrates this dilution:

---

| | | |
|:---|:---|:---|
|  Assumed initial public offering price per share |  | $5.15 |
|  Historical net tangible book value | $(32907020) |  |
|  Pro forma net tangible book value per share as of September 30, 2022 | $(4.47) |  |
|  Increase in pro forma net tangible book value per share attributable to this Offering | 4.57 |  |
|  Pro forma as adjusted net tangible book value per share after this Offering |  | .10 |
|  Dilution per share to new investors in this Offering |  | $5.05  |

---

Each $1.00 increase (decrease) in the assumed initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus, would increase (decrease) the pro forma as adjusted net tangible book value per share after this Offering by approximately $0.29, and dilution in pro forma net tangible book value per share to new investors by approximately $0.71, assuming that the number of units offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting the estimated underwriting discounts and commissions. Each increase (decrease) of 1.0 million units offered by us would increase (decrease) our pro forma as adjusted net tangible book value per share after this Offering by approximately $0.43 per share and decrease (increase) the dilution to investors participating in this Offering by approximately $0.43 per share, assuming that the assumed initial public offering price remains the same, and after deducting the estimated underwriting discounts and commissions.

The following table summarizes on the pro forma as adjusted basis described above, as of September 30, 2022, the differences between the number of shares of Class A Common Stock and Class B Common Stock purchased from us by our existing stockholders and Class A Common Stock by new investors purchasing shares units in this Offering, the total consideration paid to us in cash and the average price per share paid by existing stockholders for shares of Class A

[**Table of Contents**](#TOC001)

Common Stock and Class B Common Stock issued prior to this Offering and the effective price to be paid by new investors for shares of Class A Common Stock in this Offering. The calculation below is based on the assumed initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of the prospectus, before deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **<br>Shares Purchased** | **<br>Shares Purchased** | **<br>Total Consideration** | **<br>Total Consideration** | **Average <br>Price <br>Per Share** |
|  | **Number** | **Percent** | **Amount** | **Percent** | **Average <br>Price <br>Per Share** |
|  Existing stockholders | 7432547 | 69.9% | $13986729 | 45.9% | $1.88 |
|  New investors | 3203884  | 30.1% | 16500000  | 54.1% | $5.15 |
|  Total | 10636431  | 100% | $30486729  | 100% |  |

---

The outstanding share information in the table above is based on 845,175 shares of our common stock outstanding on September 30, 2022, and assumes: (i) the reclassification of all outstanding shares of our common stock into an equivalent number of shares of our Class A Common Stock as if such reclassification had occurred on September 30, 2022; (ii) the conversion of all outstanding shares of the Company's Series A Preferred Stock into 1,612,250 shares of Class B Common Stock, immediately prior to the completion of this Offering, as if such conversion had occurred on September 30, 2022; (iii) the conversion of all outstanding shares of the Company's Series B Preferred Stock into 1,617,650 shares of Class A Common Stock, upon the completion of this Offering, as if such conversion had occurred on September 30, 2022; (iv)) the payment of the Series B Dividend, pursuant to the issuance of an aggregate of 322,161 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January 1, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), as if such dividend had been paid on September 30, 2022; (v) the conversion, upon the completion of this Offering, of an aggregate of $3,357,730 in principal amount of certain convertible notes, plus $469,122 of accrued and unpaid interest thereon, as of January 1, 2023, into 1,007,504 shares of Class A Common Stock, plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $879 per day, as if such conversion had occurred on September 30, 2022; (vi) the conversion, upon the completion of this Offering, of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock), as if such conversion had occurred on September 30, 2022; (vii) the conversion, upon the completion of this Offering, of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted), as if such conversion had occurred on September 30, 2022; (viii) the conversion, upon the completion of this Offering, of an aggregate of $1,700,000 in original principal amount and accrued interest under the Decathlon Note, which was not previously convertible into 338,308 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit;(ix) the conversion, upon the completion of this Offering, of an aggregate of $564,000 in original principal amount and accrued interest under the Side Letter, which was not previously convertible, into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (x) the conversion, upon the completion of this Offering, of an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the

[**Table of Contents**](#TOC001)

Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xi) the conversion, upon the completion of this Offering, of an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xii) the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and the Co-Founder, which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xiii) the exercise, upon the completion of this Offering, of warrants for an aggregate of 137,400 shares of Class A Common Stock, at an exercise price of $0.004 per share, by Christopher McKee, WH&W and Decathlon; and (xiv) the occurrence of the Split at a ratio of 25-for-1, which was authorized and approved by our board of directors, which is subject to approval of our stockholders, and which will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part; and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the 2,457,638 shares of Class A Common Stock into which shares of Class B Common Stock are convertible, at any time, at a conversion rate of one share of Class A Common Stock for each share of Class B Common Stock converted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,225 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.0004 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 49,035 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $5.025 per share (assuming an initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus) and giving effect to the termination of warrants which would have been exercisable for 456,567 shares of Class A Common Stock, with a weighted average exercise price of $5.025, if such warrants had not been cancelled prior to the consummation of this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 736,375 shares of our Class A Common Stock issuable upon the exercise of options to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.96 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 800,000 shares of our Class A Common Stock reserved for future issuance under our 2023 Plan, which will become effective in connection with this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,203,884 shares of our Class A Common Stock issuable upon the exercise of the Investor Warrants to be issued upon consummation of this Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 160,194 shares of our Class A Common Stock issuable upon the exercise of the Representative's Warrants to be issued upon consummation of this Offering which are exercisable for up to 5% of the aggregate number of shares of Class A Common Stock sold in this Offering, excluding any Representative's Warrants sold pursuant to the exercise of the Over-Allotment Option.

To the extent any outstanding options are exercised, there will be further dilution to new investors. If all of such outstanding options had been exercised as of September 30, 2022, the pro forma as adjusted net tangible book value per share after this Offering would be $0.09, and total dilution per share to new investors would be $5.06.

[**Table of Contents**](#TOC001)

#### MANAGEMENT'S DISCUSSION AND ANALYSIS OF <br>FINAN CIAL CONDITION AND RESULTS OF OPERATIONS
*The following Management's Discussion and Analysis of Financial Condition and Results of Operations should be read together with our financial statements and accompanying notes included elsewhere within this prospectus. This discussion includes both historical information and forward*-looking *information that involves risk, uncertainties and assumptions. Our actual results may differ materially from management's expectations as a result of various factors, including, but not limited to, those discussed in the section titled "Risk Factors."*

#### Overview
T1V ("T1V" or "we" or "us" or the "Company") was formed as a North Carolina limited liability company in December 2007 and was converted to a Delaware corporation in May 2013, and the Company's mission is to empower teams to collaborate anytime, anywhere. T1V creates and installs interactive touchscreen experiences through its custom software solutions throughout the United States and internationally. The markets the Company serves include enterprise, higher education, and medical markets. The Company's hybrid collaboration platform includes ThinkHub<sup>®</sup> collaboration software for global teams and the T1V app — all working cohesively to bring teams together for seamless, intuitive working sessions. T1V's suite of collaboration software transforms the way people meet — making meetings a place where teams can collaborate anytime, from anywhere.

T1V stands for a "Team with 1 Vision." This describes both our company culture and our products that are designed to allow our customers to bring teams together to achieve their shared vision. We believe that removing barriers for collaboration is what allows teams to function together toward a common goal. T1V's solutions allow our customers to share information, visualize and synthesize large amounts of content and data, overcome the challenges of supporting teams and offices across distributed locations and the desire to do so while minimizing travel and accelerate the process to better decision making.

The Company derives revenue primarily from the sale of its T1V products, professional services, and subscription services. T1V offers a suite of hardware and software products based on customer specifications and delivers the product to the customer. The Company's professional services include installation, training, and commissioning. All T1V products are sold with a License Agreement, which provides the license to the software, software updates, and technical support.

T1V sells through Channel Partners. This is a network of professional audio visual ("Pro AV") dealers, who resell T1V collaboration solutions to their customers (the "end user" or "brand"). T1V's customers are primarily sourced through either a channel partner, T1V's digital channels (website and social), or live events and tradeshows. T1V works with end users and Channel Partners to develop the desired collaboration experience that includes T1V's products as a portion of a larger audio-visual project. The portion sold by T1V includes configured hardware and software that meets the customer requirements. Depending on additional services needed by the customer, T1V may also install the product at the customer's location or will visit the customer's location once installed to confirm the product is working properly. These products are also packaged with a software license agreement which gives the customer access to the T1V-developed software, as well as future software updates and remote support.

#### Key Factors Affecting our Performance
As a result of a number of factors, our historical results of operations may not be comparable to our results of operations in future periods, and our results of operations may not be directly comparable from period to period. Set forth below is a brief discussion of the key factors impacting our results of operations.

#### Known Trends and Uncertainties
<u>***<u>Inflation</u>***</u>

The U.S. economy is currently experiencing a higher than normal level of inflation. The long term impacts of inflation on the economy and our business are unclear. Our revenue could be positively impacted by inflation, if we are able to increase our prices in the future. Conversely, the impact of inflationary pressures on the macro economy could slow the spending of our customers. Inflation could also negatively impact our operating costs in terms of higher costs from our vendors and increased personnel costs. To date, inflation has not had a material effect on our results of operations during the nine months ended September 30, 2022. We may experience some effect in the near future (especially if inflation rates continue to rise) due to supply chain constraints, employee availability, and wage increases.

[**Table of Contents**](#TOC001)

<u>***<u>Supply Chain</u>***</u>

Our sole manufacturer and supplier of computer equipment for our ThinkHub Room™ products obtains products and raw materials from manufacturers and distributors located around the world, and may have entered into long-term contracts or exclusive agreements that would ensure its ability to acquire the types and quantities of products or raw materials it desires at acceptable prices and in a timely manner. Any potential disruption in and other risks relating to our sole manufacturer and supplier's supply chain as a result of the COVID-19 Pandemic or Russia's invasion of Ukraine, could limit the availability or increase the costs of its computer equipment and consequently our ThinkHub Room™ products, potentially causing consumers to seek readily available or inexpensive alternative products from competing businesses, which may ultimately affect the total number of users using our platform and harm our business, financial condition and results of operations.

<u>***<u>Geopolitical Conditions</u>***</u>

Our operations could be disrupted by geopolitical conditions, trade disputes, international boycotts and sanctions, political and social instability, acts of war, terrorist activity or other similar events. From time to time, we could have a large revenue stream associated with a particular customer or a large number of customers located in a particular geographic region. Decreased demand from a discrete event impacting a specific customer, industry, or region in which we have a concentrated exposure could negatively impact our results of operations.

Russia initiated significant military action against Ukraine. In response, the U.S. and certain other countries imposed significant sanctions and export controls against Russia, Belarus and certain individuals and entities connected to Russian or Belarusian political, business, and financial organizations, and the U.S. and certain other countries could impose further sanctions, trade restrictions, and other retaliatory actions should the conflict continue or worsen. It is not possible to predict the broader consequences of the conflict, including related geopolitical tensions, and the measures and retaliatory actions taken by the U.S. and other countries in respect thereof as well as any counter measures or retaliatory actions by Russia or Belarus in response, including, for example, potential cyberattacks or the disruption of energy exports, is likely to cause regional instability, geopolitical shifts, and could materially adversely affect global trade, currency exchange rates, regional economies and the global economy. The situation remains uncertain, and while it is difficult to predict the impact of any of the foregoing, the conflict and actions taken in response to the conflict could increase our costs, reduce our sales and earnings, impair our ability to raise additional capital when needed on acceptable terms, if at all, or otherwise adversely affect our business, financial condition, and results of operations.

<u>***<u>Impact of the COVID-19 Pandemic</u>***</u>

The World Health Organization declared COVID-19 a global pandemic in March 2020. Government-mandated lockdowns and private sector precautionary measures resulted in increased demand for collaboration platforms. Despite widespread vaccination efforts across the globe, COVID-19 continues to have an adverse impact on businesses, schools, colleges, and universities. The impact of existing variants and subvariants and any future variants and subvariants cannot be predicted at this time, and could depend on numerous factors, including vaccination rates among the population, the effectiveness of COVID-19 vaccines against these variants and subvariants, the risk appetite of the private sector, and the response by governmental bodies and regulators.

The Company has taken a number of measures to monitor and mitigate the effects of COVID-19, such as safety and health measures for our employees (such as social distancing and working from home).

During fiscal year 2020 and the first half of fiscal year 2021, COVID-19 had a significant impact on our business, since most of our product sales have been for in-room based meetings. During this time, as a result of regulations and decisions by employers, many businesses had their employees work remotely, most universities were entirely remote, and elective surgeries at many hospitals were halted. During this period, the demand for visual collaboration solutions was focused on all-remote solutions. Starting in mid-2021, as employees started returning to offices and students returned to college campuses, the focus for demand for visual collaboration solutions shifted to hybrid solutions, which are solutions that provide both in-room and remote visual collaboration. As a result our sales have increased. There is uncertainty that the increased usage of hybrid collaboration platforms will be sustained or that our sales will continue to increase at the rate that we have achieved in 2022.

------

[**Table of Contents**](#TOC001)

#### Key Business Metrics
We have historically reviewed the following key business metrics to measure our performance, identify trends, formulate financial projections, and make strategic decisions.

*Quarterly Bookings*

Quarterly bookings include all orders received during the prior quarter, including all signed contracts and purchase orders. Quarterly bookings give us an indication of future revenues and the growth of our business. Quarterly bookings (in millions) for 2020 through September 30, 2022 are listed in the table below:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Q1 <br>2020** | **Q2 <br>2020** | **Q3 <br>2020** | **Q4 <br>2020** | **Q1 <br>2021** | **Q2 <br>2021** | **Q3 <br>2021** | **Q4 <br>2021** | **Q1 <br>2022** | **Q2 <br>2022** | **Q3<br>2022** |
|  Quarterly Bookings | $2.40 | $1.68 | $2.03 | $2.92 | $2.17 | $2.39 | $2.33 | $3.13 | $3.21 | $5.04 | $4.63 |

---

Typically the fourth quarter of each year is our highest quarter for bookings and the first quarter is our lowest quarter. Starting in the first quarter of 2022 we had two consecutive quarters of more than 50% growth in year-on-year bookings.

*Sales of Products to Customers by Industry*

The following table illustrates the percentages of customer revenue related to enterprise, education, and medical markets for the nine months ending September 30, 2022 and 2021, and the years ended December 31, 2021 and 2020.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine Months<br>Ended<br>September 30,** | **Nine Months<br>Ended<br>September 30,** | **Years Ended<br>December 31,** | **Years Ended<br>December 31,** |
|  | **2022** | **2021** | **2021** | **2020** |
|  Enterprise | 44.2% | 59.5% | 55.5% | 41.4% |
|  Education | 20.0 | 17.8 | 17.9 | 18.4 |
|  Medical Markets | 33.8 | 19.4 | 24.3 | 38.7 |
|  Other Customers | 2.0 | 3.3 | 2.3 | 1.5 |
|  Total | 100.00 | 100.0 | 100.00 | 100.00 |

---

*Active Customers Sites*

We define an active customer site ("ACS") as all customer sites containing at least one T1V device for which the T1V software was active during the prior quarter and in communication with one of T1V's cloud servers. We assess the health of our business by measuring ACS because the number of sites containing active T1V devices gives an indication of current retention and market penetration.

Our ACS for the years ended December 31, 2021 and 2020 was 325 and 251, respectively. In 2021, engagement as measured by ACS has grown steadily as users have returned to our platform for the utility that it offers them, resulting in a 29% increase in active customer sites over the course of the year.

Our ACS for the quarters ended September 30, 2022 and 2021 was 360 and 300, respectively. Over the 12-month period ended September 30, 2022, engagement as measured by ACS has grown steadily as users continue to return to our platform, resulting in a 20% increase in active customer sites over this 12-month period.

*Annual Recurring Revenue (ARR)*

ARR is used to monitor customer retention and growth. We also use ARR as one of our operating measures to assess the health and trajectory of our business. ARR represents the total annualized contract value of active customer recurring License Agreements for the subsequent month from the measurement date. ARR should be viewed independently of GAAP revenue and deferred revenue as ARR is a performance metric and is not intended to be combined with any of these items. Since we only initiate new active customer recurring License Agreements at the start of each month, ARR is equal to the monthly recurring revenue that is attributable to recurring License Agreements of the subsequent month to the period presented in the audited and condensed (unaudited) financial statements multiplied by 12 (annualized). For example, ARR reported for the month of September is the monthly revenue for October that is attributable to recurring License Agreements multiplied by 12 (annualized). Generally, when over a given period of

[**Table of Contents**](#TOC001)

time our non-recurring revenue declines, as happened during 2020, we will see flat or declining ARR for the next few quarters. Similarly, after a period of increasing recurring revenue, we will see an increase in ARR over the next few quarters. The Company currently does not have any material monthly subscriptions, as a majority of contracts are for a minimum period of one year or longer.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30, 2022** | **September 30, 2021** | **December 31, 2021** | **December 31, 2020** |
|  Monthly Recurring Revenue of Subsequent Month | $237291 | $220375 | $217281 | $216087 |
|  Annual Recurring Revenue | $2847494 | $2644500 | $2607372 | $2593044 |

---

*Subscription Dollar Retention Rate*

We believe that our ability to retain and expand a customer relationship is an indicator of the stability of our revenue base and the long-term value of our customers. We assess our performance in this area using a metric we refer to as our Subscription Dollar Retention Rate. We compare the aggregate Contractual Monthly Subscription Revenue of our customer base as of the beginning of each month, which we refer to as Retention Base Revenue, to the aggregate Contractual Monthly Subscription Revenue of the same group of customers at the end of that month, which we refer to as retained Subscription Revenue. We define Contractual Monthly Subscription Revenue as the total amount of recurring revenue fees (or subscription fees) contractually committed to be paid for a full month under all of our customer agreements. Our Subscription Dollar Retention Rate for a given period is calculated by first dividing Retained Subscription Revenue by Retention Base Revenue for each month in the period, calculating the weighted average of these rates using the Retention Base Revenue for each month in the period, and then annualizing the resulting rates.

The following table illustrates Subscription Dollar Retention Rate for the nine months ended September 30, 2022 and 2021, and the years ended December 31, 2021 and 2020:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,<br>2022** | **September 30,<br>2021** | **December 31,<br>2021** | **December 31,<br>2020** |
|  Subscription Dollar Retention Rate | 79% | 69% | 75% | 88% |

---

As we continue to innovate our products, including focusing our sales and marketing activities towards enterprise, higher education and medical markets, we expect that customer retention will increase over the long term. Our ability to successfully expand and the impact of cancellations may vary from period to period.

#### Components of Results of Operations
*Revenue*

A sale typically starts with either T1V contacting an end user or an audio/visual dealer ("AV Dealer") presenting T1V's hybrid collaboration software with our preferred hardware. When contacting an AV Dealer, the AV Dealer will typically identify end users in need of such solutions. T1V and the AV Dealer will then typically work to develop a solution involving hardware and T1V's software. Ultimately T1V then ships custom configured hardware and loads and tests the software to the AV Dealer, which then ships it to the end user, often along with additional hardware added by the AV Dealer. This process typically takes about three months to complete. Depending on the needs of the customer, T1V may also install the product at the customer's location or it may visit the customer's location once installed to confirm the product is working as intended and or to provide training. These contracts are also packaged with a subscription which gives the customer access to the software through a license, as well as any future updates or support needed. We define the Initial Phase of each contract as the time from when T1V receives the order until the customer begins using the product.

[**Table of Contents**](#TOC001)

Hardware and software development for a standard or custom contract is performed over a period of two to six months and typically billed in stages of completion, during the period from T1V's receipt of an order until a customer continues using the product. T1V has an enforceable right to payment for work performed to date, and a practical limitation exists which prevents the asset from having an alternative use to the entity, therefore the Company recognizes the revenue over time using the input measure of total costs incurred divided by total costs expected to be incurred.

All software sales orders include a subscription service, which includes access to the software, updates and support. Because the nature of the Company's promise is a stand-ready obligation, the customer consumes and receives benefits from having access to the various software offerings throughout the overall obligation period. Therefore, the Company's promise to perform each service period is performed over time and is recognized ratably over the subscription period, which ranges from one to seven years beginning when the customer begins using the product (the "Subscription Period"). This is because the pattern of benefit to the customer, as well as the Company's efforts to fulfill the contract, are generally even throughout the Subscription Period.

Any training or installation services utilized is recognized over time as services are rendered. These services are not a requirement of the contracts as the customers can purchase hardware and software without these services. These services are not included as part of T1V's subscription services and are not included as part of our recurring revenue.

*Cost of Revenue (Excluding Depreciation and Amortization)*

Cost of revenue primarily consists of costs related to creating and installing our software platforms and providing operations support to our customers. These costs are related to materials for hardware, software fees, personnel-related expenses, shipping and freight expenses, and direct labor. As the cost of providing our services increases, we expect our cost of revenue to increase as well. However, the cost of revenue as a percentage of revenue may decrease over time as we continue to optimize efficiencies of products, services and related maintenance that are offered to our customers.

#### Operating Expenses
*Sales and Marketing*

Our sales and marketing expenses include advertising and promotional events. As we continue to grow our product offerings, we plan to increase our marketing investments that align with our corporate strategy. As enterprise, higher education, and medical markets reopen after the COVID-19 Pandemic, we expect sales and marketing expenses to increase during the upcoming fiscal year.

*General and Administrative*

General and administrative expenses primarily consist of salaries and wages, personnel related expenses associated with facilities administration; professional fees for external legal, accounting and other consulting services; insurance. As our Company continues to grow, we expect to increase the size of our general and administrative function to support the growth of our business. Therefore, we expect general and administrative expenses to remain relatively unchanged as a percentage of revenue.

*Other (Income) Expense, Net*

Other (income) expense, net consists primarily of gains and losses on extinguishment of debt, Paycheck Protection Program ("PPP") loan forgiveness, employee retention credits earned, and changes in fair value of convertible notes and warrant liability.

[**Table of Contents**](#TOC001)

#### Results of Operations
The following tables set forth selected statements of operations data for each of the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine Months Ended <br>September 30,** | **Nine Months Ended <br>September 30,** | **Nine Months Ended <br>September 30,** | **Nine Months Ended <br>September 30,** |
|  | **2022** | **2021** | **$ Change** | **% Change** |
|  Revenue |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Project revenue | $8974769 | $4377166 | $4597603 | 105.7% |
| &nbsp;&nbsp;&nbsp; License agreements | 2086954 | 1937663 | 149291 | 7.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Revenue | 11061723 | 6314829 | 4746894 | 75.2 |
|  Cost of revenue (exclusive of depreciation and amortization) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Project revenue | 5127888 | 2688020 | 2439868 | 90.7 |
| &nbsp;&nbsp;&nbsp; License agreements | 313135 | 246477 | 66658 | 27.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total cost of revenue (exclusive of depreciation and amortization) | 5441023 | 2934497 | 2506526 | 85.4 |
|  Operating expenses: |  |  |  |  |
|  Sales and marketing | 171652 | 80558 | 91094 | 113.1 |
|  General and administrative | 7410039 | 5317261 | 2092778 | 39.4 |
|  Depreciation and amortization | 311298 | 179231 | 132067 | 73.7 |
|  Total operating expenses | 7892989 | 5577050 | 2315939 | 41.5 |
|  Operating loss | (2272289) | (2196718) | (75571) | 3.4 |
|  Interest expense | 1284858 | 967330 | 317528 | 32.8 |
|  Other (income) expense, net | 40618 | (1841121) | 1881739 | (102.2) |
|  Net loss | (3597765) | (1322927) | (2274838) | 171.9 |

---

*Comparison of the Nine Months Ended September 30, 2022 and 2021*

*Revenue*

Revenue increased by $4,746,894 (or 75.2%), during the nine months ended September 30, 2022, compared to the same period in 2021. This increase in revenue was primarily attributable to an increase of $4,597,603 (or 105.7%) in non-recurring project revenue generated from sales of our bundled hardware and software to customers due to an increase in demand after the workplace restrictions relating to the COVID-19 Pandemic eased in the later part of 2021, and during the first nine months of 2022. We expect these trends to continue as we believe there is and will continue to be a need for hybrid working solutions. We believe that the largest growth in the visual collaboration market over the next few years will be for products that support such hybrid work environments and we have positioned the company to take advantage of this growth.

Most of the remaining increase in revenue, between the same two periods, was attributable to an increase in recurring revenue of $149,291 (or 7.7%) generated from License Agreements. Revenue from License Agreements includes revenue from subscription services, as described in Note 1 of the audited financials included in this prospectus.

*Cost of Revenues (Exclusive of Depreciation and Amortization)*

Cost of revenues increased by $2,506,526 (or 85.4%), during the nine months ended September 30, 2022, compared to the same period in 2021. The increase in the costs of revenues, between the same two periods, was also attributable to an increase in hardware and software fees of $2,405,045 and in direct labor costs of $65,735 due to an approximately 75.2% increase in revenue, which is recognized under the percentage of completion method, compared to the nine months ended September 30, 2021. We did not see a material increase in shipping and freight expenses to deliver our product.

[**Table of Contents**](#TOC001)

#### Operating Expenses
*Sales and Marketing*

Sales and marketing expense increased $91,094 (or 113.1%), during the nine months ended September 30, 2022, compared to the same period in 2021. This increase is due to an increase of $67,732 for increased participation in regional and international marketing events and tradeshows. The remaining increase of $23,362 is due to advertising, promotions, and marketing to increase product awareness.

*General and Administrative*

General and administrative expense increased $2,092,778 (or 39.4%), during the nine months ended September 30, 2022, compared to the same period in 2021. The increase in general and administrative expenses is due to an increase of $1,474,866 in salaries, wages, and personnel costs related to an increase in the number of employees from 50 employees on December 31, 2020 to 79 employees on September 30, 2022. These costs were in addition to an increase of $228,490 in administrative expenses for the Company's facilities and 401(k) and insurance plans. We also had an increase of $112,236 in professional fees for accounting, consulting, and legal services relating to this Offering.

*Depreciation and Amortization*

Depreciation and amortization increased $132,067 (or 73.7%) due to increases in the number of patents issued and internally developed software by our Company. Amortization expense increased $121,492 for capitalized labor related to the development of internal software.

*Interest Expense*

Interest expense increased $317,528 (or 32.8%). The increase in interest expense was primarily due to the issuance of additional convertible notes and our revenue loans.

*Other (Income) Expense, Net*

Other (income) expense, net increased $1,881,739 (102.2%), which is due to a $973,900 gain on extinguishment of debt related to PPP Loan forgiveness and a $1,090,664 increase in the fair value of our convertible notes and warrant liabilities.

#### Results of Operations for the Years Ended December 31, 2021 and 2020
The following table set forth selected statements of operations data for each of the fiscal years indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2021** | **2020** | **$ Change** | **% Change** |
|  Revenue |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Project revenue | $6567600 | $5590054 | $977546 | 17.5% |
| &nbsp;&nbsp;&nbsp; License agreements | 2592215 | 2745864 | (153649) | (5.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Revenue | 9159815 | 8335918 | 825897 | 9.9 |
|  Cost of revenue (exclusive of depreciation and amortization) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Project revenue | 3950629 | 3158272 | 792357 | 25.1 |
| &nbsp;&nbsp;&nbsp; License agreements | 322707 | 206670 | 116037 | 56.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total cost of revenue (exclusive of depreciation and amortization) | 4273536 | 3239192 | 1034144 | 31.9 |
|  Operating expenses: |  |  |  |  |
|  Sales and marketing | 106046 | 70910 | 35136 | 49.6 |
|  General and administrative | 7472505  | 6357855 | 1114650 | 17.5 |
|  Depreciation and amortization | 279565 | 226207 | 53358 | 23.6 |
|  Total operating expenses | 7858116  | 6654972 | 1203144 | 18.1 |
|  Operating loss | (2971637) | (1558246) | (1413391) | 90.7 |
|  Interest expense | 2271937 | 967123 | 1304814 | 134.9 |
|  Other (income) expense, net | (1536741) | 24744 | (1561485) | (6310.6) |
|  Net loss | (3706833) | (2550113) | (1156720) | 45.4 |

---

[**Table of Contents**](#TOC001)

*Comparison of Fiscal Years Ended December 31, 2021 and 2020*

*Revenue*

Revenue for the fiscal year ended December 31, 2021 increased $823,897 (or 9.9%) compared to the same period during 2020. This increase in revenue was primarily attributable to an increase of $977,546 (or 17.5%) in non-recurring Project Revenue, which was slightly offset by a decrease of $153,649 (or -5.6%) in recurring revenue from License Agreements, compared to the year ended December 31, 2020. Project Revenue increased due to an increase in demand after the workplace restrictions relating to the COVID-19 Pandemic eased in the later part of 2021. This decrease in recurring revenue in 2021 was due to COVID-related shutdowns of our customers' facilities. Revenue from License Agreements includes revenue from subscription services, as described in Note 1 of the audited financials included in this prospectus.

*Cost of Revenues (Exclusive of Depreciation and Amortization)*

Cost of revenue increased by $1,034,144 (or 31.9%) in correlation to the increase in non-recurring Project Revenue. Project Revenue has a lower margin versus License Agreements due to costs related to the equipment and labor needed to install the product. The increase in the costs of revenues, between the same two periods, was also attributable to an increase in hardware and software fees of $819,192 and in direct labor costs of $213,034 due to an approximately 9.9% increase in revenue, which is recognized under the percentage of completion method. We did not see a material increase in shipping and freight expenses to deliver our product.

*Operating Expenses*

*Sales and Marketing*

Sales and marketing expense increased $35,136 (or 23.6%), which is due to an increase in participation in regional and international marketing events and tradeshows. During 2020, travel and trade show expenses were significantly curtailed due to the COVID-19 Pandemic.

*Depreciation and Amortization*

Depreciation and amortization increased $53,358 (or 73.7%) due to increases in the number of patents issued and internally developed software by our Company. Amortization expense increased $56,258 for capitalized labor related to the development of internal software.

*General and Administrative*

General and administrative expense increased $1,114,650 (or 17.5%). The increase in general and administrative expenses is due to an increase of $655,006 in salaries, wages, and personnel costs related to an increase from 50 employees on December 31, 2020 to 74 employees on December 31, 2021. These costs were in addition to an increase of $97,895 in administrative expenses for the Company's facilities and 401(k) and insurance plans. We also had an increase of $131,376 in professional fees for accounting, consulting, and legal services for the Company's anticipated initial public offering of its securities.

*Interest Expense*

Interest expense increased $1,304,814 (or 134.9%). The increase in interest expense was primarily due to the issuance of additional convertible notes.

*Other (Income) Expense, Net*

Other (income) expense, net increased $1,561,845 (6,310.6%), which was primarily attributable to an increase related to a $973,900 gain on extinguishment of debt related to PPP Loan forgiveness and $1,199,098 of employee retention credits earned. This income was offset by a $689,864 increase in the fair value of our convertible notes.

[**Table of Contents**](#TOC001)

#### Liquidity and Capital Resources
Our operations have been funded primarily through net proceeds from the sales of our equity and convertible debt securities, as well as term loans.

The Company incurred a net loss of $3,597,765 and $1,322,927 during the nine months ended September 30, 2022 and 2021, respectively. As of September 30, 2022 and December 31, 2021, the Company had a working capital deficiency of approximately $18,065,880 and $12,986,425, respectively. The Company has received funding in the form of periodic capital raises and also plans to raise additional funding pursuant to this Offering to support its capital needs.

The Company's ability to continue as a going concern is highly contingent on the ability to either extend the maturity of its existing debt, refinance its existing debt, convert the debt to equity, or raise additional capital.

In the past, the Company has generally been able to extend the maturity dates of its outstanding debt as needed, by amending the terms of such indebtedness, usually within 60 days of the applicable maturity date or after the applicable maturity date. As described in Note 3 of the audited financial statements included in this prospectus, in December 2021, the Company entered into an agreement with Liquid Capital Exchange, Inc. to factor certain accounts receivable with recourse, up to $1,000,000. As of September 30, 2022 the aggregate gross amount factored under this arrangement was $273,477, which resulted in net proceeds of $238,200. In January and February 2022, the Company raised $200,000 in cash through the issuance of convertible notes. In July 2022, the Company raised an additional $360,000 in cash through the issuance of convertible notes.

The Company's capital requirements in the future will continue to depend on numerous factors, including the timing and amount of revenue earned by the Company, the timing of collection of outstanding accounts receivable, the expense to deliver services, and the debt service obligations under the Company's note payable agreements. There can be no assurance that, in the event that the Company requires additional financing, such financing will be available at terms acceptable to the Company, if at all. If unable to secure required additional funding, significant delays to the Company's continuing development that is critical to the future operations of the Company could occur. The Company's financial statements included in this prospectus do not include any adjustments that might result from the outcome of this uncertainty.

We anticipate approximately $6 million to $10 million of cash requirements over the next 12 months, which includes amounts related to working capital and general working capital purposes, investments in product development, and payments of principal and interest on our revenue loans (Decathlon Note (defined below) and Side Letter (defined below)) and notes payable. Based on our current plans, we believe that our existing cash, together with the net proceeds from this Offering will be sufficient to fund our operating expenses and capital expenditure requirements until at least 12 months after the completion of this Offering. We currently intend to use the net proceeds of this Offering as follows: for sales and marketing of ThinkHub Cloud™ product offerings; for research and development; for the repayment of outstanding indebtedness to certain existing creditors, including accrued and unpaid interest thereon, and any remaining amount for working capital and general working capital purposes. See "Use of Proceeds" on page 49.

*Accounts Receivable Agreement*

In December 2021, the Company entered into an agreement with Liquid Capital Exchange, Inc. ("Liquid Capital" or "the Factor") to factor certain accounts receivable with recourse, up to $1,000,000.

The Factor may require the Company to repurchase the account by either making a payment to the Factor of the amount owed, by providing another account with a face value equal to or exceeding the face value of the unpaid account, or by charging the Company's reserve. As of December 31, 2021, the Company had not sold any receivables to the Factor.

As of September 30, 2022 the aggregate gross amount factored under this arrangement was $273,477, which resulted in net proceeds of $238,200. The cost of factoring is reflected in the accompanying condensed statements of operations as general and administrative expenses was $83,925 for the nine months ended September 30, 2022.

[**Table of Contents**](#TOC001)

*Pacific Western Bank*

On August 12, 2015, the Company entered into a Line of Credit agreement with Pacific Western Bank ("Pacific LOC"). The Pacific LOC provides for borrowings up to $2,000,000. Borrowings are collateralized by all the Company's assets and bear interest at a rate of 10.99% per annum. The Pacific LOC automatically renews each year unless Pacific Western Bank calls the line of credit or the Company cancels the line of credit. During the year ended December 31, 2021, the Company paid the balance on the Pacific LOC in full and subsequently cancelled the line of credit. The Company did not have any accrued interest on this line of credit as of September 30, 2022 and December 31, 2021, respectively.

*First Citizens Bank*

On April 15, 2020, the Company entered into a Line of Credit agreement with First Citizens Bank ("First Citizens LOC"). The First Citizens LOC provides for borrowings up to $50,000. Unsecured borrowings bear interest at a rate of 4.65% per annum and do not contain any debt covenants. The First Citizens LOC automatically renews each year unless First Citizens Bank calls the line of credit or the Company cancels the line of credit. As of December 31, 2021, the balance on the line of credit was $49,984. The Company did not have any accrued interest on this line of credit as of December 31, 2021. This Line of Credit was converted to a Note in April 2022.

*Convertible Notes*

Prior to 2020, the Company executed convertible promissory notes ("Convertible Notes") with a lender with an aggregate principal amount of $1,232,099 (the "Convertible Note Balance"), which consists of an initial convertible note in the principal amount of $800,000 and $432,099 of accrued interest which was rolled into the outstanding principal balance as a result of an amendment on February 5, 2020. On February 5, 2020, the Company amended the Convertible Notes which had a face value on the amendment date of $1,255,595. Under the terms of the amendment, the outstanding principal under the Convertible Notes accrue interest at a rate of 6% ("nonconvertible interest"). Upon the occurrence of a deemed liquidation event or a stock sale, the Company is required to pay to the lender an amount equal to (i) the convertible balance, which is the outstanding principal and accrued interest on the Convertible Notes as of October 11, 2018, plus (ii) the as-converted balance, which is the convertible balance divided by $84.40 multiplied by 1.6657 multiplied by the amount per share received by holders of common stock in connection with a deemed liquidation event or stock sale, plus (iii) the unpaid and accrued nonconvertible interest. In the event the Company effects a redemption, the Company shall pay to the lender the redemption amount, which shall mean an amount equal to the product of (a) the price per share of the Series B Preferred Stock as part of such redemption multiplied by (b) the quotient of the redemption amount divided by $84.40. The Company shall also pay to the lender an amount equal to the total unpaid and accrued nonconvertible interest multiplied by a fraction, the numerator of which is the redemption amount and the denominator of which is the convertible balance. The Convertible Notes do not have a stated maturity date. Upon the completion of this Offering, the aggregate outstanding balance of the Convertible Notes will convert into 188,449 shares of Class A Common Stock (31% of the Convertible Balance) and 419,451 shares of Class B Common Stock (69% of the Convertible Balance).

*2020 Convertible Notes*

Between February 5, 2020 and May 4, 2020, the Company executed a Note Purchase Agreement with several investors, in connection with a private placement offering (the "2020 Private Placement"), and issued convertible promissory notes with an aggregate principal amount of $1,063,480 ("2020 Convertible Notes"). Outstanding principal under the 2020 Convertible Notes accrues interest at a rate of 7% per annum. The principal and unpaid accrued interest of the 2020 Convertible Notes will be automatically converted into shares of Class A Common Stock upon the closing of this Offering. The number of shares of Class A Common Stock that will be issued will be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest payable on a 2020 Convertible Note by the Conversion Price, which is 80% of the public offering price of the shares of Class A Common Stock in this Offering. The initial maturity date of the notes was February 5, 2022, which date was extended to December 31, 2022. The Company currently intends to amend the 2020 Convertible Notes to extend the maturity date of such notes to June 30, 2023, which requires the approval of the holders of a majority of the aggregate principal amount of the 2020 Convertible Notes.

[**Table of Contents**](#TOC001)

*2021 Convertible Notes and Convertible Notes Warrants*

In connection with a private placement offering to raise up to $2,000,000 in financing (the "2021 Private Placement"), in November 2021, the Company executed convertible promissory notes with several accredited investors equaling an aggregate principal amount of $1,650,250 ("2021 Convertible Notes"). Outstanding principal under the 2021 Convertible Notes accrues interest at a rate of 10% per annum. The investors have the right to convert all of the outstanding principal and accrued but unpaid interest due under the 2021 Convertible Notes into shares of our common stock (Class A Common Stock after the reclassification of our common stock to Class A Common Stock and Class B Common Stock). The Conversion Price applicable to any such conversion is equal to (i) for 25% of the principal and accrued but unpaid interest: $74.25 per share (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Common Stock (or any class of common stock into which the Common Stock has been reclassified prior to such conversion)), and (ii) for the remaining 75% of the amount of the principal and accrued but unpaid interest: 80% of the offering price of the Company's Class A common stock in the Company's initial public offering. Additionally, upon the Closing of this Offering, and upon the determination of the Company's Board of Directors, all of the outstanding principal and accrued but unpaid interest due under the 2021 Convertible Notes will automatically convert into shares of Class A Common Stock at the aforesaid Conversion Price. Our Board of Directors may also cause such automatic conversion immediately prior to the occurrence of (i) a merger in which the shareholders of the Company prior to the merger hold less than 50% of the voting power of the capital stock of the surviving corporation after such merger, or (ii) a sale of all of the assets of the Company or a transaction or series of transactions in which 50% or more of the voting power of the capital stock of the Company is transferred. The original maturity date of the 2021 Convertible Notes was November 5, 2022, but has been extended to July 31, 2023.

In connection with the 2021 Convertible Notes, the Company issued warrants that are exercisable for common stock (Class A Common Stock after the reclassification of our common stock to Class A Common Stock and Class B Common Stock) at any time on or before November 5, 2026 (the "2021 Note Warrants"). The number of shares of common stock or Class A Common Stock, as applicable, initially purchasable under the 2021 Note Warrants would be equal to a variable number of shares, and the warrant exercise price shall be subject to adjustment from time to time. See Note 12 of the Company's audited financial statements and condensed (unaudited) financial statements included in this prospectus for additional information. The Company intends to terminate the 2021 Note Warrants, effective as of immediately prior to the completion of this Offering, for no consideration.

*2022 Convertible Notes and Convertible Notes Warrants*

In January 2022 and February 2022, the Company executed two additional convertible promissory notes, in connection with the 2021 Private Placement, with investors equaling an aggregate principal amount of $230,000 ("2022 Convertible Notes"). The terms of the 2022 Convertible Notes are the same as the 2021 Convertible Notes, except that the 2022 Convertible Notes mature on dates between January 1, 2023 and February 28, 2023. Additionally, the Company issued warrants issued in connection with the 2022 Convertible Notes (the "2022 Note Warrants"), which are substantially similar to the 2021 Note Warrants, except that they are exercisable until dates between January 1, 2026 and February 28, 2026, as applicable. See Note 12 of the Company's audited financial statements and condensed (unaudited) financial statements included in this prospectus for additional information. The Company intends to terminate the 2022 Note Warrants, effective as of immediately prior to the completion of this Offering, for no consideration.

*Pre-2020 Convertible Notes*

During the calendar years 2013 through 2015, the Company executed convertible note payable agreements with various investors ("Pre-2020 Convertible Notes"). The Company measures the pre-2020 Convertible Notes at amortized cost. Outstanding principal on the Pre-2020 Convertible Notes accrues interest at a rate of 12% per annum. The principal and interest of the Pre-2020 Convertible Notes were convertible at the option of the note holders into shares of the Company's Series B Preferred Stock upon the achievement of certain milestones, but such optional conversion rights expired on June 30, 2017. The Pre-2020 Convertible Notes do not have a stated maturity date and are payable over a period of 24 months, upon demand of the holder.

[**Table of Contents**](#TOC001)

*Decathlon Loan and Side Letter Agreements*

In July 2015, the Company entered into a note payable agreement (the "Decathlon Note") with Decathlon Alpha II, L.P. ("Decathlon") for total proceeds of $1,250,000 to the Company. Monthly principal payments are calculated by taking the applicable revenue percentage and multiplying it by the revenue from the previous month. The applicable revenue percentage as defined in the Decathlon Note is 1%. Interest on the outstanding balance accrues monthly at a rate based on an internal rate of return of 25%. The Company recorded accrued interest in the amounts of $1,585,000 and $1,789,400 as of September 30, 2022 and December 31, 2021, respectively. The Decathlon Note is secured by substantially all assets of the Company.

In connection with the Decathlon Note, the Company issued detachable warrants for the right to purchase shares of the Company's common stock (shares of Class A Common Stock, upon the reclassification of the shares of Common Stock into shares of Class A Common Stock and Class B Common Stock), for a nominal amount, equaling a 1.43% interest in the Company. The Company recorded a debt discount of $12,973 which is amortized to interest expense using the effective interest method. During the nine months ended September 30, 2022 and 2021, the Company amortized $0 and $2,490 of the debt discount, respectively. See Note 12 of the Company's audited financial statements and condensed (unaudited) financial statements included in this prospectus for more information on the warrants issued to Decathlon.

Concurrently with the execution of the Decathlon Note, the Company entered into a side letter agreement ("Side Letter") with two affiliated stockholders of the Company, which are also the Selling Stockholders. Under the terms of the Side Letter, the Selling Stockholders agreed to provide the Company with an advance of $300,000 under the same terms and conditions contained in the Decathlon Note. The total balance on the Side Letter was $300,000 as of September 30, 2022 and December 31, 2021. The Company recorded accrued interest in the amounts of $466,680 and $410,380 as of September 30, 2022 and December 31, 2021, respectively.

*Economic Injury Disaster Loan (EIDL)*

In June 2020, the Company entered into a note agreement with the Small Business Administration (the "SBA Note"). The SBA Note was issued to the Company to provide a secured disaster loan in the amount of $500,000 which requires monthly payments of $2,437 consisting of principal and interest at 3.75% per annum through June 2050, when all remaining principal and interest is due and payable. Monthly payments were deferred until June 2021. The principal balance under the SBA Note was $500,000 as of December 31, 2020. The Company recorded accrued interest in the amount of $10,156 as of December 31, 2020.

In 2021, the SBA Note was amended. The amendment increased the secured disaster loan to $2,000,000. Monthly payments were deferred until June 2022. The balance on this loan was $1,987,198 as of September 30, 2022 and $2,000,000 as of December 31, 2021. The Small Business Administration loan is collateralized by substantially all Company assets. The Company recorded accrued interest in the amounts of $113,013 and $57,031 as of September 30, 2022 and December 31, 2021, respectively.

*Mountain BizWorks Loan*

In October 2020, the Company entered into a note agreement with Mountain BizWorks (the "Mountain BizWorks Note"), in connection with a loan of $250,000 which requires monthly payments of $3,086 consisting of principal and interest at .25% per annum through June 2022 at which time the rate increased to 5.5% per annum and will be fixed through November 2030 when all remaining principal and interest is due and payable. Monthly payments were deferred until June 2022. The balance on this loan was $240,920 as of September 30, 2022 and $248,804 as of December 31, 2021. This loan is collateralized by substantially all Company assets. The Company recorded accrued interest in the amounts of $5,517 and $727 as of September 30, 2022 and December 31, 2021, respectively.

*Paycheck Protection Program*

In 2020, the Company received $973,900 in aggregate loan proceeds (the "PPP Loan") from Aquesta Bank (the "Lender") pursuant to the Paycheck Protection Program ("PPP") under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Company's PPP Loan application for forgiveness was approved and official notice received in 2021 and a gain on forgiveness of debt was recognized in the amount of $973,900.

[**Table of Contents**](#TOC001)

The Small Business Administration ("SBA") reserves the right to audit the PPP loans after forgiveness is granted in accordance with the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). Borrowers are required to maintain the PPP loan documentation for six years after the PPP loan was forgiven and to provide that documentation to the SBA upon request. While the Company believes that it is a qualified business and that it has met the eligibility requirements of the PPP loans, and believes that it has used the loan proceeds only for expenses which may be paid using proceeds from the PPP loans, no assurance can be provided that any potential SBA audit will verify the amounts forgiven, in whole or in part, and the Company could be required to repay all or part of the forgiven amount.

In January 2021, the Company entered into a second note agreement with a financial institution for $973,900 which was issued in accordance with the PPP established by the CARES Act and implemented and administered by the Small Business Administration. The principal balance on this PPP Loan was $0 and $973,900 as of June 30, 2022 and December 31, 2021, respectively. The Company recorded accrued interest in the amounts of $0 and $1,596 as of June 30, 2022 and December 31, 2021, respectively, on this PPP loan. The Company's PPP Loan application for forgiveness was approved and official notice received in 2022 and a gain on forgiveness of debt was recognized in the amount of $973,900.

#### Cash Flows

#### For the Nine Months Ended September 30, 2022 and 2021
The following table summarizes cash flows for the periods presented:

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended <br>September 30,** | **Nine Months Ended <br>September 30,** |
|  | **2022** | **2021** |
|  Net cash used in operating activities | $(681511) | $(1255974) |
|  Net cash used in investing activities | (645910) | (466222) |
|  Net cash provided by financing activities | 756887 | 1218848 |

---

*Operating Activities*

Our largest source of operating cash is cash collections from our customers for custom configured hardware, software and services. Our primary uses of cash from operating activities are for employee-related expenditures, capitalizable costs related to delivering custom configured hardware, and marketing expenses. Net cash provided by operating activities is impacted by our net income adjusted for certain non-cash items, such as interest accrued on convertible notes and notes payable, changes in fair value measurement of convertible notes, depreciation and amortization expenses, as well as the effect of changes in operating assets and liabilities.

Net cash used in operating activities was $681,511 for the period ended September 30, 2022, compared to $1,255,974 for the period ended September 30, 2021. The increase in operating cash flow was due to an increase in our net loss, which was offset by an increase in non-cash adjustments which is primarily a result of deferred revenue.

*Investing Activities*

Net cash used in investing activities of $645,910 for the period ended September 30, 2022 was primarily due to payments made for internally developed software of $493,627.

*Financing Activities*

Net cash provided by financing activities of $756,887 for the period ended September 30, 2022 was primarily due to proceeds on factoring arrangements of $238,200 and convertible notes of $560,000.

#### For the Years Ended December 31, 2021 and 2020
The following table summarizes our cash flows for the periods presented:

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2021** | **2020** |
|  Net cash used in operating activities | $(2425010) | $(893101) |
|  Net cash used in investing activities | (566019) | (312254) |
|  Net cash provided by financing activities | 3167291 | 1587806 |

---

[**Table of Contents**](#TOC001)

*Operating Activities*

Our largest source of operating cash is cash collections from our customers for custom configured hardware, software and services Our primary uses of cash from operating activities are for employee-related expenditures, capitalizable costs related to delivering custom configured hardware, and marketing expenses. Net cash provided by operating activities is impacted by our net income adjusted for certain non-cash items, such as interest accrued on convertible notes and notes payable, changes in fair value measurement of convertible notes, depreciation and amortization expenses, as well as the effect of changes in operating assets and liabilities.

Net cash used in operating activities was $2,425,010 for the fiscal year ended December 31, 2021, compared to $893,100 for the fiscal year ended December 31, 2020. The decrease in operating cash flow was due to an increase in our net loss, a decrease in changes in operating assets and liabilities, and an increase in non-cash adjustments which is primarily a result of accrued interest on convertible notes and notes payable, noncash changes in fair value and loss from the extinguishment of convertible notes, offset by costs accrued for employee compensation and payroll, a decrease in cash collections in accounts receivable, and an increase in corporate credit cards spending.

*Investing Activities*

Net cash used in investing activities of $566,019 for the fiscal year ended December 31, 2021 was primarily due to payments made for internally developed software of $411,991.

*Financing Activities*

Net cash provided by financing activities of $3,167,291 for the fiscal year ended December 31, 2021 was primarily due to proceeds on convertible notes payable of $1,435,000 and PPP loans of $973,900, which was offset by a decrease in line of credit of $771,421.

*Off-Balance Sheet Arrangements*

We do not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated by the SEC under the Securities Act.

#### Critical Accounting Estimates
Critical accounting estimates are those accounting estimates that require the most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. These estimates are developed based on historical experience and various other assumptions that we believe to be reasonable under the circumstances. Critical accounting estimates are accounting estimates where the nature of the estimates are material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and the impact of the estimates on financial condition or operating performance is material.

We believe that of our significant accounting policies, which are described in Note 1, "Summary of Business and Significant Accounting Policies" to our financial statements, the following critical estimates involve a greater degree of judgment and complexity.

#### Revenue Recognition
The Company accounts for revenue in accordance with ASC 606. The Company recognizes revenue using the five-step model as in accordance with ASC 606 Revenue from contracts with customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Identification of the contract, or contracts, with a customer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Identification of the distinct performance obligations in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Determination of the transaction price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Allocation of the transaction price to the performance obligations in the contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Recognition of revenue when or as the Company satisfies a performance obligation.

[**Table of Contents**](#TOC001)

The Company's sales are initiated by either an audio/visual dealer representing T1V's products, or directly to the customer End User by T1V. When contacting an AV Dealer, the AV Dealer will typically identify End Users in need of such solutions. T1V and the AV Dealer then typically work to develop a solution involving hardware and T1V's software. Ultimately T1V then ships custom configured hardware and loads and tests the software to the AV Dealer, who then ships it to the End User, often along with additional hardware added by the AV Dealer. Depending on the needs of the customer, T1V or a channel partner installs the product at the customer's location. T1V may visit the customer's location once installed to confirm the product is working as intended and or to provide training. These contracts are also packaged with a fixed-term subscription to license the Company's software and post contract support that are bundled goods and services provided to the customer as software as a service.

Hardware and software development for a standard or custom contract is performed over a period of two to six months and typically billed based on completion of mutually agreed phases. T1V has an enforceable right to payment for work performed to date, and a practical limitation exists which prevents the asset from having an alternative use to the entity, therefore the Company recognizes the revenue using the input measure of total costs incurred divided by total costs expected to be incurred.

All software sales orders include a subscription service, which includes access to the software, updates and support. Because the nature of the Company's promise is a stand-ready obligation, the customer consumes and receives benefit from having access to the various software offerings throughout the overall obligation period. Therefore, the Company's promise to perform each service period is performed over time and is recognized ratably over the subscription period, which ranges from one to seven years. This is because the pattern of benefit to the customer, as well as the Company's efforts to fulfill the contract, are generally even throughout the subscription period.

Any training or installation services utilized is recognized over time as services are rendered. These services are not a requirement of the contracts as the customers can purchase hardware and software without the services.

*Contract Types*

Contracts fall under various contract types including 1) standard contracts, 2) custom contracts and 3) recurring license agreements ("RLA") for subscription service renewals. Standard contracts typically include the Company being contracted by a channel partner to provide hybrid collaboration hardware and software. Custom contracts are contracts in which a customer has requested a specialized or unique offering that differs from the Company's standard offerings. In both cases, subscription services are included within the contract. RLA contracts entered into with customers represent recurring subscription revenue from providing customers with software as a service after the initial license period has ended.

*Performance Obligations*

A performance obligation is a promise in a contract to transfer a distinct good or service to the customers and is the unit of account under ASC 606. The contract transaction price is allocated to each distinct performance obligation and recognized as revenue, when, or as, the performance obligation is satisfied. The Company has identified hardware and software development, subscription services, installation, and training as distinct performance obligations.

Standard and custom contracts have various performance obligations such as hardware and software development, subscription services, and training and installation, which are all recognized at different points in time. Hardware and software development under standard contracts are recognized over time using the input method based on total costs incurred divided by total costs expected to be incurred. For custom contracts, development may also include additional customization services which do not significantly modify or customize the underlying software and have the same patten of transfer. The stand-ready obligations under the software subscription as a service are recognized ratably over the subscription period. Finally, the training and installation services are recognized over time as services are rendered.

RLA contracts include the stand-ready obligation for the recurring subscription to software as a service, which is recognized ratably over the subscription period.

[**Table of Contents**](#TOC001)

*Revenue Service Types*

The following is a description of the Company's revenue services types which include hardware and software development, subscription license agreements and professional services:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Hardware and software development includes the sale of the Company's suite of developed hardware and software products that are combined and configured based on customer specifications and delivered to the customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Subscription to license agreements are required to accompany the purchase of the Company's products and are sold as a subscription which includes the license to the software, unspecified updates and technical support for the products purchased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Professional services include installation, training, and post installation check-ins, which are also referred to as commissioning.

Payments received and billings in excess of revenue recognized are deferred and recognized on the Company's balance sheet as billings in excess of costs and estimated earnings on uncompleted contracts for development and professional services, and deferred revenue for license subscriptions. Each balance is amortized over the performance obligations as notated above.

#### Fair Value of Financial Instruments
The Company considers its cash, accounts receivable, accounts payable, and debt obligations to meet the definition of financial instruments. The carrying amount of cash, accounts receivable, and accounts payable approximated their fair value due to the short maturities of these instruments. The carrying amounts of our debt obligations approximate their fair values, which are based on borrowing rates that are available to the Company for loans with similar terms, collateral, and maturity.

The Company measures fair value as required by ASC Topic 820 "Fair Value Measurements and Disclosures." ASC Topic 820 defines fair value, establishes a framework, and gives guidance regarding the methods used for measuring fair value, and expands disclosures about fair value measurements. The Company's significant fair value measurements primarily relate to convertible notes and warrant liabilities. The Company uses valuation techniques based on inputs such as observable data, independent market data and/or unobservable data. Additionally, T1V makes assumptions in valuing its assets and liabilities, including assumptions about risk and the risks inherent in the inputs to the valuation techniques.

The Company classifies fair value measurements within one of three levels in the fair value hierarchy. The level assigned to a fair value measurement is based on the lowest level input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input requires judgment. The three levels of the fair value hierarchy are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — quoted prices for identical instruments in active markets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial statements. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

The Company's policy is to recognize significant transfers between levels at the end of the reporting period.

#### Recent Accounting Pronouncements
See "Business Description and Significant Accounting Policies" in Note 1 to our financial statements included as part of this prospectus.

[**Table of Contents**](#TOC001)

#### BUSINESS

#### Overview
*Our History*

We were founded in December 2007 as a North Carolina limited liability company. Our original concept was to create software allowing group collaborations using large format touch screens in public venues where people could share data on personal computing devices and view and interact with data, images and files. In May 2013, we were converted from a North Carolina limited liability company to a Delaware corporation. From 2008 to 2013, we operated a restaurant to test our software by providing use to our restaurant customers, and also to demo our products to potential customers. By 2012, we had developed earlier versions of our ThinkHub® product and had limited sales of our then-existing products at tradeshows, restaurants and retail locations. In 2016 and 2017, we started greatly expanding sales of our collaboration products, focusing on our current three vertical markets of enterprise, education and hospitals so that by the end of 2018, we were primarily selling products similar to our current product line.

*Our Mission of Visual Collaboration*

T1V is a visual collaboration company specializing in hybrid collaboration software for enterprise, education, commercial and healthcare markets. Visual collaboration means a system including a computer, a touch screen, and software that enables the user to access a virtual canvas that is not limited by the size of the touch screen. It allows for multiple pieces of content to be placed on the canvas and viewed at the same time by multiple users. It enables multiple users to be able to simultaneously add content to and edit the canvas from multiple locations. The canvas can then be saved and resumed at a future time.

Our mission at T1V is to empower teams to collaborate anytime, anywhere. This includes collaboration for people within a large meeting room — or across distributed rooms — when some participants are remote and some are in-room.

T1V stands for a "Team with 1 Vision." This describes both our company culture and our products that are designed to allow our customers to bring teams together to achieve their shared vision. We believe that removing barriers for collaboration is what allows teams to function together toward a common goal.

Examples of barriers to collaboration are the inability to share information, visualize and synthesize large amounts of content and data, the challenges of supporting teams and offices across distributed locations and the desire to do so while minimizing travel. We believe that T1V solutions overcome these collaborative barriers and accelerate the process to better decision making.

*The Market for Visual Collaboration Products and Services*

An article titled "Visual Collaboration Platform Market with 17.79% CAGR: Share 2022 Key Growth Drivers, Industry Revenue and Sales Channel, Growing Opportunity and Challenges Forecast by 2027" in the Digital Journal published by TheExpressWire on September 30, 2022, provides that the global visual collaboration market was estimated to be greater than $500 million in 2021 and is expected to grow to more than $1.3 billion by 2027. T1V is listed in this report as one of the 17 prominent visual collaboration companies. During the period from 2021 through 2027, the article projects the visual collaboration market will grow at a combined annual growth rate of 17.79%.

The COVID-19 pandemic (the "COVID 19 Pandemic") caused changes in behaviors in how people work, learn and collaborate. We believe one of these changes was an acceleration in the shift toward hybrid working environments. For example, in a March 15, 2022 article published by Gallup Workplace titled "The Future of Hybrid Work: 5 Key Questions Answered With Data", in a survey of remote-capable employees, 53% of such employees anticipated that they will work in a hybrid work environment, in the future. Remote capable employees describes those employees whose current jobs can be done remotely at least part of the time and represents about ½ of the US full time workforce. Hybrid work describes a work environment where more than 10% and less than 100% of an employee's working time is provided remotely. In a June 23, 2022 article published by McKinsey & Company titled "Americans are embracing flexible work — and they want more of it", 58% of all US respondents reported that they have the option to work from home. McKinsey's article refers to a number of other studies indicating that flexible work has grown by anywhere from a third to 10-fold since before the pandemic, such as "How the coronavirus outbreak has — and

[**Table of Contents**](#TOC001)

hasn't — changed the way Americans work," Pew Research Center, December 9, 2020; as well as "Telework during the COVID-19 pandemic: Estimates using the 2021 Business Response Survey," US Bureau of Labor Statistics, Monthly Labor Review, March 2022.

T1V's ecosystem is designed to accommodate hybrid work environments which can support fully in-person meetings, fully remote meetings and hybrid meetings in which some persons attend in person and other remotely. During the period from January 1, 2020 through September 30, 2022, over 90% of our sales were derived from orders for our ThinkHub Room products, of which over 57% were for configurations used in hybrid work environments. The remaining ThinkHub Room products ordered were for configurations used primarily for in-person meetings.

During the nine-month period ended September 30, 2022, our revenues have increased more than 70% compared to our revenues during the same period in 2021. This increase was driven primarily by ThinkHub Room sales for use in hybrid work environments.

Nevertheless, our sales to date represent only a small fraction of the total available market for visual collaboration for hybrid use. Of the greater than $500 million market for visual collaboration referenced above, based on the research and articles referenced above, we believe that a large percentage of this market is for hybrid environments. Therefore, we have only penetrated a small percentage of the total available market for visual collaboration product for hybrid usage.

Going forward, we anticipate that our new ThinkHub Cloud product offering (allowing uses to access ThinkHub Canvases without purchasing a ThinkHub Room device) will further drive demand for our ThinkHub Platform in hybrid working environments. During the first 9 months of 2022, we invested $350,000 in research and development for our ThinkHub Cloud product. Furthermore, we are planning to use $2 million of the funds raised in this Offering to invest in Research and Development for ThinkHub Cloud. Further, we plan to use and an additional $2 million of the funds raised in this Offering to invest in Sales and Marketing for ThinkHub Cloud.

In 2023 and beyond, based on the research and articles referenced above, we believe that there is and will continue to be a need for hybrid working solutions. We believe that the largest growth in the visual collaboration market over the next few years will be for products that support such hybrid work environments and we have positioned the company to take advantage of this growth through with our ThinkHub platform including our ThinkHub Room and ThinkHub Cloud products.

*Our Products and Services*

T1V has patented, proprietary software for visual collaboration. The ability of our products to deliver room-based visual collaboration allows for multiple rooms to be linked together as well as hybrid meetings allowing participants that are both in the room and remote to interact in the same canvas.

ThinkHub® is our visual collaboration solution for global teams. The software is available as a room-based product (ThinkHub Room) or cloud-based product (ThinkHub Cloud).

ThinkHub Room is T1V's room-based collaboration software product typically used in a dedicated system by our customers including a computer, software and a large touch screen mounted to a wall. The T1V app is the companion application that users download to their device (laptops, desktop computers, and mobile devices), and is used to connect and share content with a ThinkHub Canvas™. ThinkHub Cloud™ takes the collaborative experience of ThinkHub Room™ and brings it to the user on an individual laptop device. Users can access ThinkHub Cloud™ through the T1V app, where they can create canvases and invite collaborators to join them.

For our target customers, conventional video conferencing and in-room face-to-face meetings are inadequate. For these customers, a higher level of collaboration is needed — visual collaboration. Our products allow for this higher level of engagement and collaboration. While other competitive products allow for in-room visual collaboration, our goal at T1V is to make T1V hybrid and remote meetings close to the level of in-person visual collaboration meetings.

Our collaboration platform includes ThinkHub® collaboration software for global teams and the T1V app — all working cohesively to bring teams together for seamless, intuitive working sessions.

[**Table of Contents**](#TOC001)

*Distribution of Our Products and Services*

T1V solutions are sold through Channel Partners. This is a network for professional audio visual dealers and distributors. Professional AV dealers are companies that generally purchase products from manufacturers or distributors and provide complete audio-video solutions to their customers, including hardware, design services, installation and support. The channel then resells T1V solutions to the "brand" or "end user." T1V refers to the "brand" or "end user" as the T1V customer. The Professional AV dealer is considered the T1V partner or channel partner. Distributors are used in T1V's international markets, where T1V sells to the distributor, who then resells to the Professional AV dealer.

#### Recent Developments
From November 2021 to July 2022, we raised an aggregate of $1,995,000 in a convertible debt bridge financing investment round pursuant to which we issued secured convertible notes (the "2022 Convertible Notes") to 14 accredited investors in an aggregate principal amount of $2,294,250, at an original issue discount of 15%, which accrue interest at a rate of 10% per year and which are convertible into up to an aggregate number of shares of our common stock which is not determinable until the pricing of this Offering. In addition, we issued five-year common stock purchase warrants to these investors to purchase shares of our common stock at an exercise price to be determined. In the third quarter of 2022 we amended the terms of 2022 Convertible Notes and the associated warrants as follows:

All of the principal and accrued but unpaid interest of the 2022 Convertible Notes will automatically convert to common stock (Class A Common Stock after the reclassification of the common stock to Class A Common Stock and Class B Common Stock) immediately prior to the closing of an initial public offering of our common stock (or any class of common stock into which the common stock has been reclassified prior to such conversion), including this Offering, (an "IPO"). The conversion price per share for the shares of common stock (or any class of common stock into which the common stock has been reclassified prior to such conversion) shall equal: (i) for 25% of the principal and accrued but unpaid interest: $74.25 per share (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the common stock (or any class of common stock into which the common stock has been reclassified prior to such conversion)), including the Split to be completed prior to the effectiveness of the registration statement of which this prospectus forms a part and prior to the completion of this Offering, and (ii) for the remaining 75% of the amount of the principal and accrued but unpaid interest: 80% of the offering price of our common stock (or any class of common stock into which the common stock has been reclassified prior to such conversion) in an IPO, including 80% of the initial public offering price of the Class A Common Stock in this Offering.

There is also a mandatory conversion provision with respect to the 2022 Convertible Notes, upon a qualified financing, meaning a private capital financing of at least $5,000,000. The investors also may elect to convert all of the outstanding principal and accrued but unpaid interest due under the 2022 Convertible Notes into shares of common stock immediately prior to the closing of a merger in which our stockholders prior to the merger hold less than 50% of the voting power of the capital stock of the surviving corporation after such merger, a sale of all or substantially all of the assets of the company or a transaction or series of related transactions in which 50% or more of the voting power of the capital stock of the company is transferred.

The maturity date of the 2022 Convertible Notes is the earlier of (i) July 31, 2023; (ii) a subsequent capital raise of at least $5 million; or (iii) the first day the Company's securities are traded on a national exchange including Nasdaq, NYSE, OTCQB or OTCQX.

In connection with the 2022 Convertible Notes, we issued the 2022 Note Warrants that are exercisable for common stock at any time on or before five years after the issuance date of the notes. The number of shares of common stock initially purchasable under the warrants (subject to adjustment) shall be equal to (a) the principal amount of the promissory note issued to the holder in connection with the warrant, divided by (b) the warrant exercise price. The exercise price shall initially be equal to $320.00, subject to the provisions of the note agreements. Notwithstanding the foregoing, immediately prior to the closing of an IPO, including this Offering, the warrant exercise price shall be adjusted to be equal to the offering price of our common stock (or any class of common stock into which the common stock has been reclassified prior to such conversion) in the IPO, including the effective price of the Class A Common Stock, included in the units in this Offering. The Company intends to terminate the 2022 Note Warrants, effective as of immediately prior to the completion of this Offering, for no consideration.

[**Table of Contents**](#TOC001)

The Company intends to enter into agreements with certain noteholders, pursuant to which, upon the completion of this Offering, (i) an aggregate of $1,700,000 in original principal amount and accrued interest under the Decathlon Note, which was not previously convertible, will be converted into 318,467 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (ii) an aggregate of $564,000 in original principal amount and accrued interest under the Side Letter, which was not previously convertible, will be converted into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (ix) an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), will be converted into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (iii) an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible, will be converted into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; and (iv) the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and the Co-Founder, which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit.

The Company intends to amend certain convertible notes held by T1 Investments, in an aggregate of $600,000 in principal amount, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, to be convertible upon the completion of this Offering into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock).

The Company intends to amend certain convertible notes held by WH&W, in an aggregate of $800,000 in original principal amount, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) to be convertible upon the completion of this Offering, into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted).

#### Our Products
T1V creates visual collaboration solutions for enterprise, education, commercial and healthcare markets. Visual collaboration is the ability to work with multiple pieces of content, live device and web-based content feeds, in a shared digital workspace, which is often referred to as a canvas. ThinkHub® is our multitouch, multiuser software that also supports video conferencing (Zoom, Webex, Microsoft Teams) and web-based productivity tools like Google Workspace and Office 365 to support today's hybrid workforce.

T1V sells four key products: ThinkHub Room™, ThinkHub Huddle™, ThinkHub Cloud™, and T1V Story™.

[**Table of Contents**](#TOC001)

T1V also has developed a cloud version of its ThinkHub® software, which it markets under the brand ThinkHub Cloud™. In the fourth quarter of 2021, we released a beta version of ThinkHub Cloud™, which has been tested by some of our key customers.

In the first quarter of 2022, T1V renamed and began branding its ThinkHub® software solutions as ThinkHub Room™. This is a precursor to our e-commerce site, which will allow users to purchase ThinkHub Cloud™ licenses. ThinkHub Cloud™ licenses will be sold as user licenses on a monthly or annual per user basis. ThinkHub Room™ software licenses will also be sold as device licenses and allow users to connect to the ThinkHub Room™. Each ThinkHub Room™ device license will be bundled and sold with a dedicated room computer.

With the release of ThinkHub Cloud™, users will be able to use the T1V app to access ThinkHub Canvases™ through their own personal devices, whether the canvases are hosted on a room device (through ThinkHub Room™) or in the cloud (through ThinkHub Cloud™). This will allow users to create, edit and collaborate in meetings with all remote teams, all in-room teams and hybrid meetings including both in-room and remote participants.

*ThinkHub*®

ThinkHub® is our visual collaboration solution for global teams. The software is available as a room-based product or cloud-based product, or both.

ThinkHub® is a digital workspace, often referred to as a canvas that allows users to create and manipulate content like notes and sketches, or share their own content to the canvas-like images, videos, or PDFs. All content shared to the canvas, including the canvas itself, can be annotated, resized, and maneuvered with touch.

ThinkHub® also includes a built-in web browser, and supports web-based content like Google Workspace, Office 365, YouTube, JIRA, and other enterprise productivity tools. Because ThinkHub® powers hybrid teams and spaces, it also supports integrated video conferencing software like Zoom, Webex, and Microsoft Teams.

*ThinkHub Room™*

ThinkHub Room™ is our primary in-room solution. ThinkHub Room™ is sold as a ThinkHub® software license on a dedicated in-room computer (a ThinkHub computer device). ThinkHub Room™ solutions are offered to customers through a combination of a one-time cost and a recurring license subscription.

One-time Cost: ThinkHub® license for year 1 (required), ThinkHub® computer device (required), display hardware (optional — this may be purchased separately through the Pro AV channel partner), configuration, set-up and license initiation (required), and installation (optional).

Recurring License Agreement: This provides customers with a renewable ThinkHub® license, which can be purchased annually or, if preferred by a customer, can be purchased as a multi-year license. The recurring license agreement ensures that the customer receives ongoing support and software updates as T1V develops new features for the solution. As of September 30, 2022, December 31, 2021, and December 31, 2020, 93.2%, 91.8%, and 95.3% of all active ThinkHub Room™ licenses were annual licenses, respectively. The remaining percentages of active licenses are all multi-year licenses. Multiyear licenses are typically offered with a 5% – 10% discount on the license, depending on the length of term and size of the order.

ThinkHub Huddle™

ThinkHub Huddle™ is an all-in-one, ThinkHub bundle that includes a ThinkHub® computer device, touch display and stylus accessory, web camera, video conferencing (choose from Zoom, Webex, or Microsoft Teams), single hardline input, and compatibility with ThinkHub Cloud™ canvases. This is a low-cost solution developed in the first quarter of 2022 to address demand in the marketplace for in-room collaboration boards that support video conferencing and hybrid teams in the return to work. The bundle is sold as a complete kit to the Pro AV Channel Partners, and also includes all mounting hardware to make installation extremely easy. The ThinkHub Huddle™ follows the same cost model as ThinkHub Room™, with a one-time cost for year 1 and recurring license agreement.

[**Table of Contents**](#TOC001)

*ThinkHub Cloud™*

ThinkHub Cloud™ takes the collaborative experience of ThinkHub Room™ and brings it to the user on an individual laptop device. Users can access ThinkHub Cloud™ through the T1V app, where they can create canvases and invite collaborators to join them.

ThinkHub Cloud™ licenses are sold on a per user basis. There are three subscription levels of ThinkHub Cloud™: Free, Pro, and Enterprise. Free and Pro licenses will be available on T1V's ecommerce site for individual or small group purchase, while Enterprise licenses will be bundled with ThinkHub Room™, and sold via Channel Partners. The plans vary in feature set, with the primary driver being the number of ThinkHub Cloud™ canvases available to the user.

*T1V Story™*

T1V Story™ enables organizations to visually tell their story. This is a software solution that takes a brand's assets (logos, color palette, content like images, videos, and PDFs) and reconfigures them into an interactive, touch-based experience. Popular applications within T1V Story™ include an interactive map, timeline, image, and product lines. Each of these applications provides a means for the brand to visually represent their identity and educate their audience on their organization's history, geographic reach, or lineup of products.

T1V Story™ is primarily used in customer experience centers, briefing centers, alumni and visitor centers, executive lobbies, virtual selling rooms, visualization labs and innovation centers.

#### Customers
While all of our customers are seeking collaboration solutions, how each uses and benefits from these collaboration solutions varies across industry and team function. The following describes the types of customers that use our collaboration solutions:

T1V's primary end user markets are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1. Enterprise*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.1. Large Enterprise Businesses*

Large enterprise businesses are large regional, national, or global private organizations. Many enterprise businesses have collaboration needs that are special to such businesses within a multivendor environment. We offer service and support packages and sell these products primarily through Professional AV dealers and distributors and often in partnership with third-party technology vendors. T1V's enterprise business is comprised primarily of Fortune 500 companies and includes manufacturing firms; construction and engineering businesses; architecture and design firms; energy companies; defense contractors and technology companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*1.2. Small-to-Medium Sized Businesses*

Our small-to-medium sized business ("SMB") customers represent a market that is small, but is a growing subset of the enterprise market. These represent organizations with less than 1,000 employees and typically have regional offices. We have developed our ThinkHub Cloud™ and ThinkHub Huddle™ for sales to the SMB market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*2. Higher Education*

We target higher education institutions who are looking to outfit their active learning and hybrid classroom environments. Higher education is undergoing enormous changes as it tries to support teaching faculty and staff, and improve the student experience which has been negatively impacted by the COVID-19 Pandemic. The ThinkHub® classroom supports in-room and remote instructors to co-teach curriculum, while also supporting both in-room and remote student participation. We are also able to connect campuses in larger university systems, to ultimately increase access to courses and improve efficiencies across teaching staff. In the classroom, our collaboration solutions enable teachers and students to have more collaborative class sessions. It enables active

[**Table of Contents**](#TOC001)

learning and group-based collaboration amongst students, and is a flexible tool for teachers to use no matter their teaching style. Teachers can prepare canvases and content before class and then share and distribute during and after class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*3. Healthcare*

The healthcare market consists primarily of operating rooms and meeting rooms in large hospitals. For this market, we sell products primarily through a partnership we have with a major medical equipment manufacturer (OEM). We sell customized versions of our products to the OEM that are white-labeled for sale to the hospitals.

*Customer Concentration*

We have two methods of selling our products: (1) sales by our Channel Partners, who buy our products and resell them to our customers (or End Users), and (2) sales directly to End Users, which are customers that purchase our products directly for their own use. In consideration for their marketing and selling our products, we provide Channel Partners with discounts on our products. During the nine months ended September 30, 2022, and the years ended December 31, 2021 and 2020, no customer represented more than 10% or more of our total revenues. Sales made by our more than 80 Channel Partners accounted for approximately 96%, 92% and 77% of our sales, for the nine months ended September 30, 2022 and the years ended December 31, 2021 and 2020, respectively. Two of our Channel Partners accounted for an aggregate of approximately 31% and 9% of revenue for the nine months ended September 30, 2022 and 17% and 9.2% for the 9 months ended September 30, 2021.

#### Manufacturer Partners
*Planar:* T1V partners with Planar displays in order to provide turnkey solutions coupled with T1V's products to the market. This is beneficial for both T1V, Planar, and end users. Turnkey solutions allow for a seamless installation of room systems with all components known. This helps our support team to completely understand all components within a system when interacting with a customer.

Planar is T1V's preferred partner for large multi panel video wall and LED wall systems. T1V software is featured in more than 10 Planar showrooms across the US and internationally. Planar and T1V hold joint events for customers that have produced numerous sales leads as their customer base is similar to that of T1V. T1V also works with Planar's technology team to ensure T1V's software works seamlessly with Planar's products.

*Avocor:* T1V partners with Avocor on single panel displays coupled with T1V systems. Similar to its partnership with Planar, the market prefers the turnkey abilities of T1V coupled with Avocor. Avocor has best in class touch technology with value pricing. T1V also works with Avocor's technology team to ensure the T1V needs are being met by Avocor's products.

#### Advertising and Marketing
T1V's advertising and marketing is handled exclusively in-house. Our marketing group uses an inbound strategy to drive lead generation for the T1V sales team. This is accomplished through the creation of original content and materials, ranging from product materials like product one sheets and brochures, product and training videos, webinars, customer and use case videos, and thought leadership pieces like eBooks and Whitepapers.

The T1V brand and branding guidelines were designed in house and are maintained by the marketing team. The marketing team uses T1V's digital channels (website and social) as its primary method in publishing its content. The team uses HubSpot to create automated and drip email campaigns to target, grow and nurture its contact database of 40k+ contacts.

In addition to content and digital channels, T1V marketing uses regional events to target specific verticals and markets for its sales team. The marketing team works with the regional sales directors to create an events calendar, and supports the promotion, materials, and gear that is demoed on site.

[**Table of Contents**](#TOC001)

*2023 Initiatives*

In the first half of 2023 the marketing team intends to expand its programming to include paid outreach, and is actively seeking an external agency partner to manage Search Engine Optimization and Search Engine Marketing campaigns, as well as an outbound Sales Development Representative team to increase lead generation for its sales team. We believe that this will be critical to the successful launch of ThinkHub Cloud™.

#### Sales and Distribution
We sell our products through Channel Partners. The T1V sales team works directly with these regional Channel Partners to identify prospects in order to set up demonstrations. The sales process typically includes a virtual or in-person demonstration from our showroom, called the "T1V Experience Center" and the customer gains a complete understanding of the value and functionality our solutions provide.

T1V works with a variety of partners to bring its collaboration solutions to market. The following describes T1V's sales and distribution:

*Sales*

The sales and marketing team consists of 21 persons located in the US (19) and Europe (2) (United Kingdom and Netherlands). T1V's US sales team covers three regions: Central + West regions (five persons), East region (four persons). These sales teams sell to all customers except for healthcare customers. Our sales team in Europe works closely with distributors of T1V products in order to cover a large territory.

T1V sells through Channel Partners. This is a network of professional audio-visual dealers, who resell T1V collaboration solutions to their customers. The T1V territory managers are responsible for establishing relationships with the Channel Partners in their respective regions.

With the launch of ThinkHub Cloud™, customers may purchase ThinkHub Cloud licenses directly from T1V through the T1Vapp, or through the ecommerce website, upon its expected launch in 2023. The enterprise version of ThinkHub Cloud™ is sold through existing Channel Partners bundled with ThinkHub Room™.

In the healthcare/medical market, T1V supports the sales team of a specific distributor — the large healthcare OEM described below. The primary responsibility for sales is handled by this Healthcare OEM, which has pre-existing relationships with many hospitals.

*Distribution*

In the North American market for enterprise and education, T1V does not have any distributors in the U.S., but does have one distributor (Data Visual) in Canada. In the medical market, T1V has an exclusive distribution agreement with a large healthcare OEM (the "Healthcare OEM") for the U.S. and Canada. The Healthcare OEM distributes a white-label version of ThinkHub® for use in hospital operating rooms by providing our ThinkHub Room™ solution and the Healthcare OEM resells the solution under its own brand name and through its own sales organization.

In the international market, T1V's Channel Partners also include distributors, who then resell to the Professional AV dealers, who then sell to the end user. We distribute our products outside North America, using the following distributors:

Mindstec Distribution: Asia, Middle East, Africa

Polar: UK, Ireland

MediaPlus: Japan

#### International Sales
International sales are overseen by our Vice President of International Sales ("VP of International Sales"), who relocated to the Netherlands to be closer geographically to our international operations. Our VP of International Sales directly manages a territory covering the Middle East and Africa. The international sales team includes a territory sales manager residing in the UK (covering Europe), an application engineer also residing in the UK and a VP of Strategic Partnerships, located in the US, all reporting to our VP of International Sales. Our international sales team

[**Table of Contents**](#TOC001)

works with key distribution and Professional AV dealer partners in their respective territories to provide solutions to end user brands. In Asia, the Middle East and Africa, T1V works with Mindstec as our exclusive distribution partner for the resale of products to Professional AV dealers. Our sales in South America are managed by employees located in the U.S.

In the European medical market, T1V works with the European division of the same Healthcare OEM that distributes for us in the U.S. The European division distributes the same white-label version of ThinkHub® distributed by the Healthcare OEM in the U.S. for use in hospital operating rooms.

International sales (i.e., all sales of our products outside of North America) accounted for 12% of our revenues in 2020, 9% of our revenues in 2021 and 10% of our revenues for the nine months ending September 30, 2022. Most of our international customers are global enterprise companies with revenues greater than $1 billion and globally distributed teams.

#### Our Revenue Model
Our revenue model includes two revenue streams: non-recurring and recurring revenue. Each sale at T1V includes a combination of non-recurring and recurring revenue.

Non-recurring revenue includes hardware and services (including installation, commission, customization and configuration) and the upfront portion of software licenses.

Recurring revenue consists of revenue from our sales of licensing and support agreements. Our licensing and support agreements include software licenses, customer support and ongoing customer success services. Within our recurring revenue, we have two license types: room-based and user-based licenses. Room based licenses are tied to the physical T1V devices (ThinkHub Room™, ThinkHub Huddle™ or T1V Story™). They allow unlimited users to connect and collaborate with the room device. User-based licenses apply to our software applications T1V app and ThinkHub Cloud™. Our T1V app is free to all users; ThinkHub Cloud™ offers three subscription tiers: Free, Pro, and Enterprise.

During the past three years, nearly all of our revenue has been generated from sales of room-based products. Typically initial sales orders of our room-based products are sold as bundles with the first year including a room-based license and support along with the non-recurring items (i.e., upfront hardware and services). The non-recurring revenue items are recognized on a percentage completion basis within the first few months after receipt of the initial sales order, until the product is delivered and ready for use, at which point the full non-recurring revenue is recognized. We also make sales of our room-based products where customers pay for multiple years license fees and support at the time of the initial sales order.

The initial room-based license and support revenue is recognized as recurring revenue over the term of the license and support agreement that is bundled with the initial order, starting after the end-user's first use of the product.

T1V's products are sold through Channel Partners, including distributors and Professional AV dealers. After the initial term, the end-user will pay the license renewal fee in order to renew the license for the next term. This fee is sometimes paid directly by the end-user to the Company and sometimes it is paid through a Channel Partner. If it is paid through a Channel Partner, then the Channel Partner retains a portion of the license renewal fee, typically 10%.

ThinkHub Cloud™ licenses are user-based. Sales of ThinkHub Cloud™ licenses began in 2022, and have been minimal to date, as the product has not yet been fully released, as a stand-alone product. Currently ThinkHub Cloud serves as a companion product to ThinkHub Room. Users of ThinkHub Room can access a free version of ThinkHub Cloud through the T1V App. Users have the ability to upgrade their license through in-app purchases. An e-commerce website is planned for release in the first half of 2023, which will offer Free and Pro plans.

#### Pricing
T1V products are priced according to bill of materials, competitive products, and value delivered to the customer. The gross margin varies across our product line depending on the amount of hardware and software delivered. Hardware bundled with our products typically has a very low gross margin as we do not manufacture any hardware. Software and

[**Table of Contents**](#TOC001)

services yield the bulk of our gross margin. Blended gross margin across all of our products is typically 45% – 50%, when excluding recurring revenue. Our blended recurring revenue gross margin is typically greater than 80%. Our plan going forward is to increase the percentage of recurring revenue, which will lead to higher overall gross margins.

We expect margins on ThinkHub Cloud™ to be substantially higher than margins on our other products as we plan to sell it as a license only and not bundled with hardware. All prices are subject to change as new costs per bill of materials are modified, but such changes have not been significant over the past few years.

The T1V price list is managed by the Executive Vice President, Sales and Marketing in conjunction with our Vice President of Operations and Chief Technology Officer.

#### Competition
The market for communication and collaboration technology services is intensely competitive and subject to significant technological change and changes in practice. Many of these competitors are substantially larger and have considerably greater brand recognition, financial, technical and marketing resources than are generally available to us. While we believe that our innovative collaboration solutions, including our line of ThinkHub® products, provide us with competitive advantages, we face competition from many different sources with respect to our current products and those that we may seek to develop and commercialize in the future. Our products compete in the communications and collaboration technologies markets with products offered by Cisco Webex, Zoom, LogMeIn, GoToMeeting, as well as bundled productivity solutions providers who offer limited content sharing capabilities such as Microsoft Teams, and Google Workspace. In the rapidly evolving "ideation" market, certain elements of our application compete with Microsoft, Google, Oblong, Multitaction, Bluescape, Mersive, Barco, Nureva and Prysm. Portions of our ThinkHub Cloud™ also compete with products offered by Miro, Mural, Figma and Lucid Software.

Our competitive landscape can be segmented into four market categories:

Category 1: Large Conference Rooms and Classrooms, Auditoriums, Corporate Lobbies, Training Centers, Innovation Labs and Customer Experience Centers, that generally utilize large multipanel video walls and allow interactions of more than ten people at a time.

Category 2: Medium Sized Conference Rooms, classrooms and operating rooms, that generally realize a large single panel touch display typically designed for five to ten users at a time.

Category 3: Small Conference rooms or Huddle Spaces that typically utilize a small single panel touch display, designed for fewer than five users at a time.

Category 4: Remote only users: no rooms involved (cloud-based collaboration).

In Category 1, our product offerings include a high-end version of ThinkHub Room™ and T1V Story™. Our competitors here are Oblong, Multitaction, Bluescape and Prysm.

In Category 2, our primary product offering is our base ThinkHub Room™ product. Competition for this product includes Microsoft Surface Hub, Google Jam Board and Cisco Webex Board.

In Category 3, our primary product offering is ThinkHub Huddle™. Competition for this product includes Zoom Room, Crestron Flex, Mersive Solstice and Barco Clickshare.

In Category 4, our primary product offering is ThinkHub Cloud™. Competition for this product includes Miro, Mural, Figma, and Lucid Software.

We believe our ability to offer solutions in all product categories distinguishes us from most of our competitors. This allows customers that adopt our platform to purchase products from the same company for all four product categories, ensuring compatibility and the use of the same T1V app for each product. For Pro AV Channel Partners, this streamlines their sales process, ease of deployment, and the ability to train their customers and drive adoption across the organization.

[**Table of Contents**](#TOC001)

#### T1V Competitive Strengths
*T1V Ecosystem*

All of T1V's products can or will be able to be used to provide a collaboration ecosystem for our customers, that allows users to create and collaborate in a room or in the cloud and use these solutions for visual collaboration meetings which are all remote, all in-person or hybrid meetings with some participants in the room and some participating remotely. The user experience is fueled by the T1V app — the companion application that enables all T1V users to connect, collaborate, and co-create with their team members using their preferred T1V solution. This is the same app they will use to connect to all of T1V's products, providing a seamless, intuitive user experience. The T1V app is available for free download at *<u>t1v.com</u><u>/</u><u>app</u>*.

*Visual Collaboration*

T1V offers a full service visual collaboration solution. There are only a small number of companies offering such solutions that enable a virtual canvas with multiple items to be accessed and viewed simultaneously from multiple participants at multiple locations.

*Hybrid Meetings*

High quality hybrid meetings with visual collaboration first require an exceptional in-room experience. This requires the ability for multiple participants in a meeting room to be able to share, view and interact with content on a large touch screen or video wall. We are one of only a few companies with software that provides this high-quality hybrid meeting experience, using our ThinkHub Room™ software that accesses a cloud canvas. The hybrid meeting experience also includes remote participants. Our T1V app allows remote participants to access the same cloud canvas and interact with it in a manner very similar to those in the room. We believe that the quality and features of this interaction sets our hybrid meeting solutions apart from most of our visual collaboration competitors.

*Multiple Streams of Dynamic, Synchronous Content*

Dynamic content refers to media located outside of our products that can be updated in real time during a meeting. Examples of dynamic content include screen sharing, Google Docs, Office 365 documents and web browsers. T1V is one of the only visual collaboration platforms that allows multiple dynamic content documents to be simultaneously viewed and accessed on a canvas. This allows our customers to use many of the tools that they have used previously and incorporate them into our visual collaboration platform when needed.

*Distributed Office Connectivity*

Having a solution for in-room and remote, allows our customers, for example, to have all in-room meetings one week, all remote meetings a second week and hybrid meetings for the third week. The same canvas can be used for each of these types of meetings. Work can be done across these meetings on the canvas as the canvas is stored in the cloud.

*Customer Support*

T1V's customer support team consists of a support manager and four support technicians. This team consistently earns high marks for their product knowledge and ability to resolve issues quickly and efficiently. This team covers 20 hours per day five days a week and eight hours per day on the weekends.

Support generally performs the majority of their work on the phone, via email, text or using WhatsApp to assist our international customers. Instant messaging is also available. Along with the support team, we have an escalation path team that consists of two personnel who specialize in issues that go above and beyond the normal support path.

[**Table of Contents**](#TOC001)

*Platform Supporting Remote and Multiple In-room Needs*

We believe that T1V is one of the only companies that provides visual collaboration solutions for a variety of room types from large corporate experience centers to small huddle spaces along with a cloud solution for remote users. This allows our customers to purchase an entire solution from us ensuring compatibility with their canvases as they move between room types as well as from the office to the home.

#### Market Opportunities
The way that people work has drastically shifted over the past two years, as a result of the COVID-19 Pandemic, and, we believe, will continue to create tremendous opportunity in workplace technology for years to come. One of the biggest shifts in the workplace, which we have seen is the growth of hybrid teams, and the need to support hybrid workplaces and meetings. This, along with the growing availability of multimedia content, data, and enterprise productivity tools in the workplace, has created an increased demand for visual collaboration.

An article titled "Visual Collaboration Platform Market with 17.79% CAGR: Share 2022 Key Growth Drivers, Industry Revenue and Sales Channel, Growing Opportunity and Challenges Forecast by 2027" in the Digital Journal published by TheExpressWire on September 30, 2022, provides that the global visual collaboration market was estimated to be greater than $500 million in 2021 and is expected to grow to more than $1.3 billion by 2027. T1V is listed in this report as one of the 17 prominent visual collaboration companies. During the period from 2021 through 2027, the article projects the visual collaboration market will grow at a combined annual growth rate of 17.79%.

*Factors Diving the Increased Demand for Collaboration Solutions Products*

The COVID-19 Pandemic caused changes in behaviors in how people work, learn and collaborate. We believe that the COVID-19 Pandemic was a catalyst that accelerated these changes, but that these changes began prior to the COVID-19 Pandemic and, we believe, will continue for the foreseeable future.

These changes include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A large fraction of the workforce having the ability to work remotely;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The desire to have meetings between multiple locations without requiring traveling;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increase in the number of hybrid meetings in which some participants are in the office or classroom, while others are remote;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Methods to increase collaboration and maintain company culture when many people are frequently remote;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Giving workers flexibility to work where they want and when they want;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Companies and universities desire to encourage employees/students to attend in person meetings/classes using collaborative tools that help give them an experience that they cannot have at home;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The explosion in video conferencing has led to the realization of the limitations of this technology;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The desire to travel less due to a range of factors including the pandemic, climate change impact, cost and time savings; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increasing labor costs and difficulty in finding employees driving the need for increased productivity and efficiency.

From 2017 – 2019, T1V's revenues increased an average of 35% per year. By 2019, T1V was one of only a few market leaders in the visual collaboration space, which at that time was largely focused on room-based collaboration.

In 2023 and beyond, based on the research and articles referenced above, we believe that there is and will continue to be a need for hybrid working solutions. T1V's ecosystem is designed to accommodate hybrid work environments in supporting meetings for all in-room participants, all remote participants and meetings with both in-room and remote participants. We believe that the largest growth in the visual collaboration market over the next few years will be for products that support such hybrid work environments.

[**Table of Contents**](#TOC001)

#### Our Strategy
We intend to become a leading collaboration solutions company and to continue to develop new products that provide better experiences for our customers for in-person, remote and hybrid work environments. In 2023, we plan to implement direct marketing to end users for ThinkHub Cloud™. Within ThinkHub Cloud™ we intend to incorporate in-app promotions to help drive further sales. We anticipate that ThinkHub Cloud™ will not only help drive further sales of our cloud licenses, but will also drive sales of our ThinkHub Room™ products. Similarly, we believe that sales of our ThinkHub Room™ products will also help drive usage, adoption and sales of our ThinkHub Cloud™ products.

We also believe that the same strategies that we used, prior to the COVID-19 Pandemic, for in-room sales will allow us to grow our in-room sales at the same rate or higher (35% – 40% per year) for the next several years, due to the increased demand, the market drivers listed above, and our introduction of ThinkHub Cloud™.

#### Intellectual Property
*General*

Intellectual property is an important aspect of our business, and we seek protection for our intellectual property as appropriate. To establish and protect our proprietary rights, we rely upon a combination of patent, copyright, trade secret and trademark laws and contractual restrictions such as confidentiality agreements, licenses and intellectual property assignment agreements. We maintain a policy requiring our employees, contractors, consultants and other third parties to enter into confidentiality and proprietary rights agreements to control access to our proprietary information. These laws, procedures and restrictions provide only limited protection, and any of our intellectual property rights may be challenged, invalidated, circumvented, infringed or misappropriated. Furthermore, the laws of certain countries do not protect proprietary rights to the same extent as the laws of the United States, and we therefore may be unable to protect our proprietary technology in certain jurisdictions. Moreover, our platform incorporates software components licensed to the general public under open-source software licenses. We obtain many components from software developed and released by contributors to independent open-source components of our platform. Open-source licenses grant licensees broad permissions to use, copy, modify and redistribute our platform. As a result, open-source development and licensing practices can limit the value of our software copyright assets.

We continually review our development efforts to assess the existence and patentability of new intellectual property. We pursue the registration of our domain names, trademarks and service marks in the United States and in certain locations outside the United States. To protect our brand, we file trademark registrations in some jurisdictions.

*Our Intellectual Property*

T1V's core intellectual property is its visual collaboration software platform that allows for multiple users and multiple devices. T1V began developing this software in 2008. T1V was one of the first companies to develop many of the features used in this platform and has obtained several patents and has several patents pending relating to these features.

In addition to the core visual collaboration software platform, T1V also has developed a separate platform that is used for the T1V app. This program allows users to connect to T1V room devices and to ThinkHub Cloud™. It also allows users to view content on a canvas and to share their screen or other documents to a canvas.

T1V is one of only a small number of companies that initially developed visual collaboration in the early 2010's. Furthermore, T1V was one of the first companies to develop an app to allow remote participants to present and view content — both static and live — on a canvas displayed on an in-room device. We were also one of the first companies to incorporate multi-streaming into a visual collaboration platform.

T1V currently holds 16 patents issued in the US, with 15 additional applications pending. These patents cover various aspects of the features of T1V's products including ThinkHub Room™, ThinkHub Cloud™, T1V Story™, and the T1V app. These patents also cover specialized versions of ThinkHub® that are used by universities in classrooms.

Some of our patents and patent applications also cover methods that are essential in order for our systems to function with high levels of performance and helpful at reducing network bandwidth requirements.

[**Table of Contents**](#TOC001)

The following is a list of our registered and pending patents.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  **US PATENT NUMBER** | **TITLE** | **COUNTRY** | **FILING <br>DATE** | **STATUS** | **GRANT <br>DATE** |
| 8583491 | Multimedia display, multimedia system including the display and associated methods | U.S. | August 13, 2008 | Issued | November 12, 2013 |
| 8522153 | Multimedia, multiuser system and associated methods | US | February 11, 2013 | Issued | August 27, 2013 |
| 8600816 | Multimedia, multiuser system and associated methods | US | December 31, 2009 | Issued | December 3, 2013 |
| 9596319 | Simultaneous input system for web browsers and other applications | US | November 13, 2014 | Issued | March 14, 2017 |
| 9953392 | Multimedia system and associated methods | US | February 27, 2015 | Issued | April 24, 2018 |
| 9965067 | Multimedia, multiuser system and associated methods | US | October 9, 2013 | Issued | May 8, 2018 |
| 10447744 | Simultaneous input system for web browsers and other applications | US | March 10, 2017 | Issued | October 15, 2019 |
| 10616633 | System for connecting a mobile device and a common display | US | February 29, 2016 | Issued | April 7, 2020 |
| 10768729 | Multimedia, multiuser system and associated methods | US | May 7, 2018 | Issued | September 8, 2020 |
| 10809854 | Display capable of object recognition | US | July 12, 2016 | Issued | October 20, 2020 |
| 10931996 | System for connecting a mobile device and a common display | US | March 4, 2020 | Issued | February 23, 2021 |
| 10976984 | Multi-group collaboration system and associated methods | US | December 13, 2018 | Issued | March 13, 2021 |
| 11095694 | Cross network sharing system | US | June 5, 2017 | Issued | August 17, 2021 |
| 1111240468 | Video conferencing during real time collaboration on a virtual canvas | US | Dec 4, 2020 | Issued | February 1, 2022 |
| 11347367 | Real Time Collaboration Over Multiple Locations | US | June 4, 2019 | Issued | May 31, 2022 |
| 11416104 | Display Capable of Interacting with an Object | US | October 19, 2020 | Issued | August 16, 2022 |

---

[**Table of Contents**](#TOC001)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **Application Number** | **Title** | **COUNTRY** | **FILING <br>DATE** | **STATUS** |
|  17/744,738 US20220276825 | Real Time Collaboration Over Multiple Locations | US | May 16, 2022 | Pending |
|  17/706,606 US20220222029 | Remote gesture control, input monitor, systems including the same and associated methods | US | March 29, 2022 | Pending |
|  17/581,980 US20210120208 | Video Conferencing during real time collaboration on a virtual canvas | US | January 24, 2022 | Pending |
|  17/073,814 US20210034193 | Display capable of interacting with an object | US | January 9, 2015 | Pending |
|  16/986,292 US20200363903 | Engagement analytic system and display system responsive to interaction and/or position of users | US | August 6, 2020 | Pending |
|  17/391,141 US20210360043A1 | Cross Network Sharing System | US | August 2, 2021 | Pending |
|  EP17879181 EP3549016A2 | Real Time Collaboration Over Multiple Locations | EU | December 4, 2017 | Pending |
|  17/225,145 US20210224021 | MULTI-GROUP COLLABORATION SYSTEM AND ASSOCIATED METHODS | US | April 8, 2014 | Pending |
|  EP18813407.6 | Multi- Group Collaboration System and Associated Methods | EU | June 8, 2019 | Pending |
|  16/808,406 | System for connecting a mobile device and a common display | US | March 4, 2020 | Pending |
|  16/589,648 US20200104040 | Simultaneous gesture and touch control on a display | US | October 1, 2019 | Pending |
|  17/384,951 US20210373840 | Real time collaboration over multiple locations | US | July 26, 2021 | Pending |
|  17/144,163 US20210160291 | Simultaneous input system for web browsers and other applications | US | January 8, 2021 | Allowed |
|  PCT/US2021/043920 WO2022026842 | Virtual distributed camera, associated applications and system | PCT/WO | July 30, 2021 N | Pending |
|  17/534,476 US20220083308 | Real-Time Collaboration over multiple locations | US | November 24, 2021 | Pending |

---

"T1V®" and "ThinkHub®" are trademarks registered by us with the United States Patent and Trademark Office ("USPTO"). We currently intend to register certain of our other trademarks with the USPTO, such as ThinkHub Room™, ThinkHub Cloud™, and T1V Story™, after the completion of this Offering. We may also register additional trademarks with the USPTO, in the future, as we create new products and services.

#### Employees
As of December 31, 2022, we had a total of 75 full-time employees and three full-time international contractors. Of these full-time employees, 28 were involved in customer support and operations, 19 in sales and marketing, seven in corporate functions, and 22 in Engineering and Technology. Our human resources objectives include, as compliance, identifying, recruiting, retaining, incentivizing and integrating our existing and new employees, advisors and consultants.

Our compensation program is designed to attract, retain, and motivate highly qualified employees and executives and is comprised of a mix of competitive base salary, bonus and equity compensation awards, as well as other employee benefits. We are committed to diversity and inclusion as well as equitable pay within our workforce. In addition, the health and safety of our employees, customers and communities are of primary concern to us. During the COVID-19 Pandemic, we have taken significant steps to protect our workforce, including but not limited to, working remotely, and implementing social distancing protocols consistent with guidelines issued by federal, state, and local laws.

[**Table of Contents**](#TOC001)

#### MANAGEMENT

#### Executive Officers and Directors
The following table sets forth information for our executive officers and directors as of the completion of this Offering:

---

| | | |
|:---|:---|:---|
|  **Name** | **Age** | **Position** |
|  ***Executive Officers and Directors*** |  |  |
|  Michael Feldman | 59 | President, Chief Executive Officer and Director |
|  Diane Thompson | 59 | Chief Financial Officer |
|  James Morris | 54 | Chief Technology Officer and Director |
|  Adam Loritsch | 41 | Executive Vice President of Sales and Marketing |
|  ***Non-Employee Directors*** |  |  |
|  Dieter Woelfle | 62 | Director |
|  David Almagor | 65 | Director Nominee |
|  Tracy S. Clifford | 53 | Director Nominee |

---

#### Michael Feldman
Michael Feldman is a co-founder of T1V and has served as its President, Chief Executive Officer and a director since its inception in 2008. Prior to that, in 1993, while a professor of Electrical Engineering at UNC Charlotte, Mr. Feldman co-founded Digital Optics Corporation ("Digital Optics"), where he served as Chief Executive Officer from 1993 to 1998 and Chief Technology Officer from 1998 to 2006, when it was acquired by Tessera Technologies.

Mr. Feldman holds a MS and PhD in Electrical Engineering from the University of California at San Diego and a BSE from Duke University. He received the Distinguished Young Alumni Award from Duke University's Engineering School in 2000 and is an inventor on more than 80 patents. He is well qualified to serve as a director due to his extensive operational and technical experience.

#### Diane Thompson
Diane Thompson was hired as T1V's Director of Finance in April 2021 and has been T1V's Chief Financial Officer since December 2021. Prior to joining T1V, Ms. Thompson was the Chief Financial Officer of General Microcircuits, Inc., a contract manufacturer of electronic circuit boards, from January 2014 to December 2019. While there, she was a controller from January 2013 to January 2014. General Microcircuits was sold in 2019, and between January 2020 and March 2021, Ms. Thompson worked as a consultant for the former owners, assisting them with various financial matters in the winding down of their business. Prior to her work at General Microcircuits, from 2011 to 2012, Ms. Thompson was controller of Bealer Wholesale, Inc., which was the exclusive distributor of Anheuser Busch and Monster Energy Beverages. While there, she directed and managed all financial and information technology functions of the principal distributer throughout three counties. From 1999 to 2011, Ms. Thompson was employed by Consolidated Fibers, Inc. She was the Chief Financial Officer from 2007 to 2011, and she was a controller from 1999 to 2007. While there, she directed and managed their financial and information technology functions, as well. Prior to that, from 1997 to 1999, Ms. Thompson was Vice President of Accounting/Administration at Diversified Telecom, Inc., a messaging, dispatch, and order entry services business. She performed various financial responsibilities, such as supervising the cash, audit, and other financial functions of the company.

Ms. Thompson holds a BA in accounting from North Carolina State University.

#### James Morris
James Morris is a co-founder of T1V and has served as its Chief Technology Officer since 2008. Mr. Morris is responsible for identifying and developing new products for the Company. From 1995 until 2008, when Digital Optics was acquired by Tessera Technologies, Mr. Morris was the Senior Engineer of Digital Optics, where he worked with

[**Table of Contents**](#TOC001)

Mr. Feldman. Mr. Morris has extensive experience in the areas of optics, electronics, computer programming, and networking, and was responsible for all IT programs at Digital Optics in the early stages of the company. While at Digital Optics, Mr. Morris identified several products and led early-stage development.

Mr. Morris holds a BS, MS, and PhD in Electrical Engineering from UNC Charlotte and in an inventor on more than 40 patents. He is well qualified to serve as a director due to his extensive operational and technical experience.

#### Adam Loritsch
Adam Loritsch has served as the Executive Vice President of Sales and Marketing of T1V since May 2017. As the Company's Executive Vice President of Sales and Marketing Mr. Loritsch is responsible for all sales, marketing, and customer development activity for T1V. Mr. Loritsch joined T1V in January 2011 as its West Coast Sales Manager, where he established key accounts and grew the Company's regional footprint. From January 2014 to January 2017, Mr. Loritsch held increasingly more responsible marketing and business development positions at T1V, where he was responsible for all sales, marketing, product development, and strategic partnership initiatives for its inTouch product line, focusing on the live event market. Prior to T1V, from March 2004 to January 2011, Mr. Loritsch worked as a technical solutions consultant for Frontier Precision Inc., providing land surveying solutions to engineering firms.

Mr. Loritsch received a BA in Communications from Southern New Hampshire University.

#### Non-Employee Directors

#### Dieter Woelfle
Dieter Woelfle has served as a member of T1V's board of directors since February 2020. Previously, he was a member of T1V's advisory board from July 2017 through January 2020. Mr. Woelfle has an extensive background in international business and all aspects of business development, from start-up through sale. He is adept in creating and managing global teams, optimizing workflow, and the negotiation of global contracts. Mr. Woelfle also has experience in developing several patents for label applications and solutions.

Since 2017, Mr. Woelfle has been a member of the Advisory Board for Riparo GmbH of Holzgerlingen, Germany, a German auto service provider that operates within the motor vehicle insurance industry and the motor vehicle repair trade. From April 2019 to December 2021, Mr. Woelfle was also a member of the board of directors of ECOCELL Technology AG, a Swiss joint stock company. From January 2016 through January 2022, Mr. Woelfle was a Managing Director of the European Industrial & Automotive Label Business division of CCL Design, a manufacturer of printed, functional, and decorative products for the electronics, automotive, and industrial industries. Since May 2016, Mr. Woelfle has been the owner and a Managing Director of the Kuveno AG Management Consulting Company of Appenzell, Switzerland.

Mr. Woelfle founded the Rolf & Dieter Woelfle Foundation in 2003 and has also worked with Meals on Wheels in retirement homes and mental health services.

Mr. Woelfle received a Master of Business & Engineering in the Printing Industry from Stuttgart Media University in Stuttgart, Germany, in 1987. In 1980, he received a State Certified Business Administrator degree from the Business School of Berufskolleg II in Esslingen, Germany, where he majored in Business Administration. Mr. Woelfle is a native German speaker and is fluent in English. He is well qualified to serve as a director due to his extensive international business background and operational and advisory experience.

#### David Almagor (Director Nominee)
Dr. David Almagor has agreed to become a member of T1V's board of directors upon the completion of this Offering. He is a veteran high-tech executive and serial entrepreneur with over 30 years of experience in managing complex research and development, and in growing businesses from startups to later-stage companies. Since November 2021, Dr. Almagor has been the Executive Board Chairman of Metomotion, Ltd., a private, Israeli-based manufacturer of an autonomous tomato-picking robot. Since November 2020, he also been the Executive Board Chairman of Cybord Ltd., a private, Israeli-based cloud software company enabling AI-based visual inspection and qualification of electronic components in the production process. Prior to that, from December 2015 to October 2019, Dr. Almagor was the co-founder and Executive Chairman of Presenso Ltd., an Israeli-based industrial AI-based predictive maintenance

[**Table of Contents**](#TOC001)

company business that was acquired by SKF in 2019. From 2009 to November 2015, Dr. Almagor was the co-founder and Executive Chairman and Chief Executive Officer of Panoramic Power Ltd., a provider of asset-level, cloud-hosted energy management solutions which was acquired by Centrica in 2015. Prior to that, in 2005 Dr. Almagor founded Mysticom Semiconductor, a private company that developed network devices, where he served as its Chief Executive Officer and Chairman from 1997, and which was acquired by Transwitch in 2005.

Dr. Almagor holds the following university degrees: PhD EE and M.S. EE from the University of California San Diego and B.S. EE from the Technion, Israel Institute of Technology. He has also authored more than 70 publications and is a co-author of five United States Patents and one UK Patent. He is well qualified to serve as a director due to his extensive private company board and operational experience.

#### Tracy S. Clifford (Director Nominee)
Tracy S. Clifford has agreed to become a member of T1V's board of directors upon the completion of this Offering. She has served as the Chief Financial Officer of Acorn Energy, Inc. (OTCMKTS: ACFN), an energy infrastructure and equipment provider, since June 1, 2018 and as the Chief Operating Officer of its subsidiary OmniMetrix LLC, a remote monitoring solutions provider, since December 1, 2019. She serves in such positions pursuant to a Consulting Agreement between Acorn Energy, Inc. and Tracy Clifford Consulting, LLC. In addition, she serves as Chief Financial Officer of IM Holdings, Inc., a private company in the pharmaceutical industry since August 2015. Ms. Clifford is President and Owner of Tracy Clifford Consulting, LLC, through which she has been providing contract CFO/COO services and other advisory services and project engagements since June 2015. Between October 1999 and May 2015, she served as Chief Financial Officer, Principal Accounting Officer, Corporate Controller and Secretary for a publicly traded pharmaceutical company and a publicly traded REIT. Her prior experience includes accounting leadership positions at United Healthcare (Atlanta) and the North Broward Hospital District (Fort Lauderdale) and work on the audit team of Deloitte & Touche (Miami). Ms. Clifford obtained a Bachelor of Science Degree in Accounting from the College of Charleston and a master's degree in Business Administration with a concentration in Finance from Georgia State University. Ms. Clifford is a licensed CPA in the state of South Carolina and holds a Certification in the Fundamentals of Forensic Accounting from the AICPA. She is well qualified to serve as a director due to her extensive public and private company accounting and financial background and experience.

#### Key Employees

#### Ron Gilson
*Vice President of Technology*

Ron Gilson joined T1V in 2011 and leads our software team in developing T1V's patented multitouch, multiuser software technology, including Web Browser 2.0, CMS, and ThinkHub. Prior to T1V, he was a software developer and systems engineer at Digital Optics and then worked at Tessera Technologies following its acquisition of Digital Optics in 2006.

Mr. Gilson holds a BS in Computer Science and a MS in Information Technology from the University of North Carolina at Charlotte, and serves as a member of the ITIL Foundation.

#### Keith Main
*Vice President of Operations*

Keith Main has been with T1V since February 2013, beginning his tenure as Senior Project Manager, then Director of Operations, and now serving as Vice President of Operations. As Vice President of Operations, Mr. Main leads T1V's project management, creative, customer support, and integration teams. Prior to T1V, Mr. Main held various roles in project and engineering management with Digital Optics and then worked at Tessera Technologies following its acquisition of Digital Optics in 2006. Prior to this, from 2000 to 2005, he served as a nuclear engineer and program manager for the United States Navy, working at the Naval Reactors Headquarters in Washington, D.C. He has extensive experience in engineering, project management, and operational management.

Mr. Main holds a BS and MS in Electrical Engineering from the University of Virginia.

[**Table of Contents**](#TOC001)

#### Marco Ventura
*Vice President, International Sales*

Mr. Ventura has been with T1V since its inception in 2008, helping to shape the early strategic vision of the Company, and helping lead T1V into multiple vertical markets. Today, Mr. Ventura's focus is on T1V's growing list of national and international accounts that are transforming their workspaces with T1V collaboration solutions, establishing key partnerships in enterprise, higher education, and professional audio-visual sectors. Prior to T1V, he served in increasingly responsible sales, marketing and business development positions for Macchine Elettroniche Piegatrici S.p.A., Fresh Concepts, LLC and Comefri Group in both Italy and the United States.

Mr. Ventura holds a BS in International Business and Marketing from McGill University. He has served as director and officer to numerous companies and helped establish several U.S. subsidiaries for mid-sized European corporations.

#### Family Relationships
There are no family relationships between or among any of the current directors, executive officers or persons nominated or charged to become directors or executive officers.

[**Table of Contents**](#TOC001)

#### CORPORATE GOVERNANCE
Effective upon consummation of this Offering, our board of directors will adopt the charters for our audit committee ("Audit Committee"), compensation committee ("Compensation Committee") and nominating and corporate governance committee ("Nominating and Corporate Governance Committee"), and certain other corporate governance documents and policies, including our code of business conduct and ethics. Once adopted, such charters and policies will be posted on our corporate website, *www.t1v.com,* in the Investor Relations — Corporate Governance section*.* Any changes to these documents and any waivers granted with respect to our Code of Ethics will be posted at *www.t1v.com*. In addition, we will provide a copy of any of these documents without charge to any stockholder upon written request made to the Corporate Secretary, T1V, Inc., 5025 West W.T. Harris Blvd, Suite A, Charlotte, NC 28269. The information at *www.t1v.com* is not, and shall not be deemed to be, a part of this prospectus.

#### Board Composition
Upon the consummation of this Offering, our board of directors will consist of five (5) members. The Company's amended and restated bylaws will require the number of directors of the Company to be not less than three (3) nor more than the number as fixed from time to time by resolution of the board of directors; provided that no decrease in the number of directors shall shorten the term of any incumbent directors. Our current directors John Stein and Christopher McKee have agreed to resign as directors upon the consummation of this Offering. David Almagor and Tracy S. Clifford, who are named as director nominees in this prospectus, are expected to replace Messrs. Stein and McKee, as directors, upon the consummation of this Offering.

#### Director Independence
Our board of directors has determined that Dieter Woelfle is an independent director in accordance with the listing requirements of the Nasdaq Capital Market. We expect that Dr. Almagor and Tracy S. Clifford, who will become directors of the Company upon the consummation of this Offering, also will be independent directors in accordance with the listing requirements of the Nasdaq Capital Market when they become members of the board of directors. The Nasdaq independence definition in Rule 5605(a)(2) of the Nasdaq Listing Rules includes a series of objective tests, including that the director is not, and has not been for at least three years, one of our employees and that neither the director nor any of his family members has engaged in various types of business dealings with us. In addition, as required by the Nasdaq Listing Rules, our board of directors have made, with respect to Mr. Woelfle, and will make, prior to their becoming directors, with respect to Dr. Almagor and Tracy S. Clifford, a subjective determination as to each independent director that no relationships exist, which, in the opinion of our board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. In making these determinations, our board of directors will have reviewed and discussed information provided by the directors and us with regard to each director's business and personal activities and relationships as they may relate to us and our management. The directors whom the board have determined are not independent is our President and Chief Executive Officer, Michael Feldman and our Chief Technology Officer, James Morris.

<u>***<u>Role of Board in Risk Oversight Process</u>***</u>

Our board of directors has responsibility for the oversight of the Company's 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 of directors to understand the Company's risk identification, risk management and risk mitigation strategies with respect to areas of potential material risk, including operations, finance, legal, regulatory, strategic and reputational risk.

Upon being established, the Audit Committee will review information regarding liquidity and operations, and oversee our management of financial risks. Periodically, the Audit Committee will review our policies with respect to risk assessment, risk management, loss prevention and regulatory compliance. Oversight by the Audit Committee will include direct communication with our external auditors, and discussions with management regarding significant risk exposures and the actions management has taken to limit, monitor or control such exposures. Upon being established, the Compensation Committee will be responsible for assessing whether any of our compensation policies or programs has the potential to encourage excessive risk-taking. While each committee will be responsible for

[**Table of Contents**](#TOC001)

evaluating certain risks and overseeing the management of such risks, the entire board of directors will be regularly informed through committee reports about such risks. Matters of significant strategic risk are considered by our board of directors as a whole.

#### Board Committees and Independence
Upon the consummation of this Offering, we will establish three standing committees — audit, compensation and nominating and corporate governance — each of which will operate under a charter that will be approved by our board of directors. Prior to the consummation of this Offering, copies of each committee's charter will be posted on the Investor Relations — Corporate Governance section of our website, which is located at *www.t1v.com*. Each committee has the composition and responsibilities described below. Our board of directors may from time to time establish other committees.

*Audit Committee*

Upon consummation of this Offering, we will establish the Audit Committee of the board of directors. Messrs. Woelfle, Almagor, and Ms. Clifford will serve as members of our Audit Committee. Under the Nasdaq Listing Rules and applicable SEC rules, we are required to have three members of the Audit Committee all of whom must be independent. Our board of directors has determined that Messrs. Woelfle, Almagor, and Ms. Clifford will also be independent.

Each member of the Audit Committee is financially literate and our board of directors has determined that Ms. Clifford qualifies as an "audit committee financial expert" as defined in applicable SEC rules. Ms. Clifford will serve as chair of the Audit Committee.

The Audit Committee's main function is to oversee our accounting and financial reporting processes and the audits of our financial statements. We will adopt an Audit Committee Charter, which will detail the principal functions of the Audit Committee, including, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Selecting and retaining (subject to approval by the Company's stockholders) our independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Setting the compensation of our independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Overseeing the work of our independent registered public accounting firm and pre-approving all audit services they provide;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Approving all permitted non-audit services performed by our independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Establishing policies and procedures for engagement of our independent registered public accounting firm for permitted audit and non-audit services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluating the qualifications, independence and performance of our independent registered public accounting firm;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reviewing the design, implementation, adequacy and effectiveness of our internal accounting controls and our critical accounting policies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Discussing with management and the independent registered public accounting firm the results of our annual audit and the review of our quarterly unaudited financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reviewing the scope and plan of our independent registered public accounting firm and their effective use of audit resources;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reviewing with management and independent auditors their significant audit findings, and assess the steps that management has taken or proposes to take to minimize significant risks or exposures facing the Company, and periodically review compliance with such steps;

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Establishing procedures for the Company's confidential and anonymous receipt, retention and treatment of complaints regarding the Company's accounting, internal controls and auditing matters, as well as for the confidential, anonymous submissions by Company employees of concerns regarding questionable accounting or auditing matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Obtaining the advice and assistance, as appropriate, of independent counsel and other advisors as necessary to fulfill the responsibilities of the Audit Committee, and receive appropriate funding from the Company, as determined by the Audit Committee, for the payment of compensation to any such advisors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reviewing, overseeing and monitoring the integrity of our financial statements and our compliance with legal and regulatory requirements as they relate to financial statements or accounting matters; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reviewing and evaluating, at least annually, the performance of the Audit Committee and its members including compliance of the Audit Committee with its charter.

Both our independent registered public accounting firm and management periodically meet privately with our Audit Committee.

*Compensation Committee*

Upon consummation of this Offering, we will establish a compensation committee of the board of directors (the "Compensation Committee"). The members of our Compensation Committee will be Messrs. Woelfle, Almagor, and Ms. Clifford. Mr. Almagor will serve as chair of the Compensation Committee. We will adopt a Compensation Committee charter, which will detail the principal functions of the Compensation Committee, including, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer's compensation, evaluating our Chief Executive Officer's performance in light of such goals and objectives and determining and approving the remuneration (if any) of our Chief Executive Officer based on such evaluation in executive session at which the Chief Executive Officer is not present;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving the compensation, the performance goals and objectives relevant to the compensation, and other terms of employment of our other executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving (or if it deems appropriate, making recommendations to the full board of directors regarding) the equity incentive plans, compensation plans and similar programs advisable for us, as well as modifying, amending or terminating existing plans and programs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing and approving the terms of any employment agreements, severance arrangements, change in control protections and any other compensatory arrangements for our executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reviewing with management and approving our disclosures under the caption "Compensation Discussion and Analysis" in our periodic reports or proxy statements to be filed with the SEC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• preparing the report that the SEC requires in our annual proxy statement.

*Nominating and Corporate Governance Committee*

Upon consummation of this Offering, we will establish the Nominating and Corporate Governance Committee of the board of directors, which will consist of Messrs. Woelfle, Almagor and Ms. Clifford, each of whom is or will be an independent director under the Nasdaq Listing Rules. The Nominating and Corporate Governance Committee will be responsible for overseeing the selection of persons to be nominated to serve on our board of directors. We will adopt a Nominating and Corporate Governance Committee charter, which will detail the principal functions of the Nominating and Corporate Governance Committee. Mr. Woefle will serve as chair of the Nominating and Corporate Governance Committee.

[**Table of Contents**](#TOC001)

<u>***<u>Board Diversity</u>***</u>

The board of directors values the benefits that diversity can bring and seeks to maintain a board of directors comprised of talented and dedicated directors with a diverse mix of experience, skills and backgrounds collectively reflecting the strategic needs of the business and the nature of the environment in which the Company operates. In identifying qualified candidates for nomination to the board of directors, the Nominating and Corporate Governance Committee will consider prospective candidates based on merit, having regard to those competencies, expertise, skills, background and other qualities identified from time to time by the board of directors as being important in fostering a diverse and inclusive culture which solicits multiple perspectives and views and is free of conscious or unconscious bias and discrimination.

While we do not currently have a formal diversity policy, it is our expectation that the Nominating and Corporate Governance Committee will adopt a formal policy and plans to comply with the new rule provided by Nasdaq for board diversity (the "Nasdaq Diversity Rule"), on or before to the date required under the Nasdaq Diversity Rule. The Nasdaq Diversity Rule requires, assuming our shares of Class A Common Stock are listed on the Nasdaq Capital Market and that we are a smaller reporting company, that we will have at least two directors serving on our board of directors, one of which identifies as female and the second of which identifies as female, underrepresented minority or LGBTQ+, by August 2, 2026, unless our board of directors is comprised of five or less directors. It is intended that the Nominating and Corporate Governance Committee will give due consideration to characteristics, such as gender, age, ethnicity, disability, sexual orientation and geographic representation, which contribute to board diversity. The nominating and corporate governance committee may, in addition to conducting its own search, engage qualified independent advisors to assist in identifying prospective diverse director candidates that meet the selection criteria established by the board of directors and that support its diversity objectives. In implementing its responsibilities, the Nominating and Corporate Governance Committee will take into account the board of director's diversity objectives and the diverse nature of the business environment in which the Company operates, as well as the need to maintain flexibility to effectively address succession planning and to ensure that the Company continues to attract and retain highly qualified individuals to serve on the board of directors.

<u>**<u>Guidelines for Selecting Director Nominees</u>**</u>

The guidelines for selecting nominees, which, will be specified in the Nominating and Corporate Governance Committee's charter, will generally provide that persons to be nominated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• should have demonstrated notable or significant achievements in business, education or public service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• should possess the requisite intelligence, education and experience to make a significant contribution to the board of directors and bring a range of skills, diverse perspectives and backgrounds to its deliberations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• should have the highest ethical standards, a strong sense of professionalism and intense dedication to serving the interests of the stockholders.

#### Code of Business Conduct and Ethics
Effective upon consummation of this Offering, we will adopt a written code of business conduct and ethics that applies to our directors, officers and employees, including our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. Upon the consummation of this Offering, our code of business conduct and ethics will be available under the Investor Relations — Corporate Governance section of our website at *www.t1v.com*. In addition, we intend to post on our website all disclosures that are required by law Nasdaq Listing Rules concerning any amendments to, or waivers from, any provision of the code. The reference to our website address does not constitute incorporation by reference of the information contained at or available through our website, and you should not consider it to be a part of this prospectus.

[**Table of Contents**](#TOC001)

#### EXECUTIVE COMPENSATION
This section discusses the material components of the executive compensation program for our named executive officers for the fiscal years ended December 31, 2022 and 2021, consisting of our principal executive officer ("PEO") and the next two most highly compensated executive officers other than the PEO who were serving as executive officers at December 31, 2022 and whose total compensation for the fiscal year ended December 31, 2022, was in excess of $100,000. The named executive officers serving during the fiscal year ending December 31, 2022, were:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Michael Feldman, our President and Chief Executive Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• James Morris, our Chief Technology Officer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adam Loritsch, our Executive Vice President of Sales and Marketing.

In addition, we currently intend to enter into employment agreements with our named executive officers and certain other employees either prior to or upon consummation of this Offering. The terms and conditions of such agreements have not been negotiated as of the date hereof.

#### Summary Compensation Table
The following table presents all of the compensation awarded to or earned by or paid to our named executive officers during the fiscal years ended December 31, 2022 and 2021.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Name and Principal Positions** | **Year** | **Salary** | **Stock Awards** | **Option Awards** | **All Other Compensation** | **Total** |
|  Michael Feldman, | 2022 | $162240 |  |  | $5000 | $167240  |
| &nbsp;&nbsp;&nbsp; President & CEO | 2021 | $156000 | $— |  |  | $156000 |
| &nbsp;&nbsp;&nbsp; (Principal Executive Officer) |  |  |  |  |  |  |
|  James Morris,  | 2022 | $158995  |  |  | $5000  | $163995  |
| &nbsp;&nbsp;&nbsp; CTO | 2021 | $152880 | $— | $— | $3000 | $155880 |
|  Adam Loritsch, | 2022 | $170000  |  |  | $16080  | $186080  |
| &nbsp;&nbsp;&nbsp; Executive VP of Sales | 2021 | $162225 |  | $450 | $7000 | $162675 |

---

#### Outstanding Equity Awards at the End of 2022
The following table summarizes the number of shares of common stock underlying outstanding equity incentive plan awards for each named executive officer as of December 31, 2022.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  **Name** | **Number of <br>Securities <br>Underlying <br>Unexercised <br>Options <br>(# exercisable)** | **Number of <br>Securities <br>Underlying <br>Unexercised <br>Options <br>(# unexercisable)** | **Equity <br>Incentive <br>Plan <br>Awards: <br>Number of <br>Securities <br>Underlying <br>Unexercised <br>Unearned <br>Options** | **Option <br>Exercise <br>Price** | **Option <br>Expiration <br>Date** |
|  Adam Loritsch | 2375 |  |  | $0.32 | 7/1/2024 |
|  | 3750 |  |  | $0.32 | 9/1/2025 |
|  | 6250 |  |  | $0.32 | 12/1/2026 |
|  | 17500 |  |  | $0.24 | 12/31/2027 |
|  | 12938 | 4312 |  | $0.24 | 11/1/2029 |
|  |  | 11250 |  | $0.24 | 2/25/2031 |
|  |  | 20000 |  | $3.07 | 4/26/2032 |

---

[**Table of Contents**](#TOC001)

#### Non-Executive Director Compensation
Our non-executive members of our board of directors have not received any compensation prior to this Offering and no arrangements have been entered into relating to compensation after this Offering. Following this Offering, the board of directors will establish a compensation package for the non-executive members of the board of directors.

#### Equity Incentive Plans
*2014 Stock Incentive Plan*

Our board of directors and stockholders adopted our 2014 Stock Incentive Plan on January 25, 2014 (the "2014 Plan"). Our 2014 Plan allows for the grant of a variety of equity awards to provide flexibility in implementing equity awards, including incentive stock options ("ISOs"), nonstatutory stock options ("NSOs"), restricted stock ("Restricted Stock"), restricted stock units ("RSUs") and other stock-based awards, including stock appreciation awards ("SARs").

<u>***<u>Purpose</u>***</u>

The Board believes that the Company's ability to award incentive compensation based on equity in the Company is critical to its ability to attract, motivate and retain key personnel. The creativity and entrepreneurial drive of such employees and other personnel who provide services to the Company will be critical to our success. By giving our employees, consultants, advisors and directors an opportunity to share in the growth of our equity, we will align their interests with those of our stockholders. Our employees, consultants, advisors and directors will understand that their stake in the Company will have value only if, working together, we create value for our stockholders. Awards under the 2014 Plan will generally vest over a period of time giving the recipient an additional incentive to provide services over a number of years and build on past performance.

<u>***<u>Number of Shares</u>***</u>

As of December 31, 2022, 366,750 shares of our Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part) were reserved for grant or issuance under the 2014 Plan. Any shares of Class A Common Stock that are represented by awards under the 2014 Plan that are forfeited, expire, or are cancelled or settled in cash without delivery of shares, or that are forfeited back to us or reacquired by us after delivery for any reason, or that are tendered to us or withheld to pay the exercise price or related tax withholding obligations in connection with any award under the 2014 Plan, will again be available for awards under the 2014 Plan. Only shares of Class A Common Stock actually issued under the 2014 Plan will reduce the share reserve.

The 2014 Plan imposes the following additional maximum limitations, which limitations will be adjusted to take into account stock splits, reverse stock splits and other similar occurrences: the maximum value of shares that may be issued in connection with incentive stock options granted to any one person in any calendar year intended to qualify under Code Section 422 is $100,000.

<u>***<u>Administration</u>***</u>

The 2014 Plan is administered by the board of directors (the "Board"). To the extent permitted by applicable law, the Board may delegate any or all powers under the 2014 Plan to any committee or subcommittee of the Board (the "Committee"). The decisions of the Board or the Committee, as applicable, are final and binding upon all participants.

<u>***<u>Eligibility</u>***</u>

The selection of the participants in the 2014 Plan are generally determined by the Board. Employees and those about to become employees, including those who are officers or directors of the Company or its subsidiaries and affiliates, are eligible to be selected to receive awards under the 2014 Plan. In addition, non-employee service providers, including non-employee directors, and employees of unaffiliated entities that provide bona fide services to the Company not in connection with the offer and sale of securities in a capital-raising transaction are eligible to be selected to receive awards under the 2014 Plan.

[**Table of Contents**](#TOC001)

<u>***<u>Types of Awards</u>***</u>

The 2014 Plan allows for the grant of ISOs, NSOs, Restricted Stock awards, RSUs and other stock-based awards, including SARs and other awards entitling participants to receive shares of our Class A Common Stock to be delivered in the future. Subject to the terms of the 2014 Plan, the Board or the Committee, as applicable, determines the terms and conditions of awards, including the times when awards vest or become payable and the effect of certain events such as termination of employment.

*Stock Options.* ISOs qualified with respect to Code Section 422 or NSOs not qualified under any section of the Code may be granted under the 2014 Plan. All stock options granted under the 2014 Plan must have an exercise price that is at least equal to the fair market value of our underlying Class A Common Stock on the grant date (110% of such fair market value in the case of an ISO granted to a participant who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company (a "10% Stockholder"). No stock option granted under the 2014 Plan may have a term longer than ten years (five years in the case of the grant of an incentive stock option to a 10% Stockholder"). The exercise price of stock options may be paid (i) in cash; (ii) by (A) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (B) delivery by a participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding; (iii) as long as the Class A Common Stock is registered under the Exchange Act and to the extent provided for in the applicable option agreement or approved by the Board, in its sole discretion, by delivery (either by actual delivery or attestation) of shares of Class A Common Stock owned by the participant valued at their fair market value, provided that, among other things, such Class A Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements; (iv) if provided for in the applicable option agreement or approved by the Board, in its sole discretion, by (A) delivery of a promissory note to the Company on terms determined by the Board, or (B) payment of such other lawful consideration as the Board may determine; and (v) any combination of the foregoing.

*Restricted Stock Awards; Restricted Stock Units.* The Board or the Committee, as applicable, may grant awards entitling recipients to acquire shares of Class A Common Stock (i.e. Restricted Stock), subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from a participant in the event that conditions specified by the Board or the Committee, as applicable, in the applicable award agreement are not satisfied prior to the end of the applicable restriction period or periods established by the Board or the Committee, as applicable for such award. The Board or the Committee, as applicable, also may grant awards entitling a participant to RSUs entitling the participant to be issued shares of Class A Common Stock at the time the RSUs vest. Participants holding shares of Restricted Stock shall be entitled to the payment of dividends with respect to such shares of Restricted Stock.

*Other Stock*-Based *Awards.* The Board or the Committee, as applicable, may grant other awards of shares of Class A Common Stock, and other awards that are valued in whole or in part by reference to, or are otherwise based on, shares of Class A Common Stock or other property, may be granted hereunder to Participants, including, without limitation, SARs and awards entitling recipients to receive shares of Class A Common Stock to be delivered in the future. Such other stock-based awards shall also be available as a form of payment in the settlement of other awards granted under the 2014 Plan or as payment in lieu of compensation to which a participant is otherwise entitled. Other stock-based awards may be paid in shares of Class A Common Stock or cash, as the Board or the Committee, as applicable, shall determine.

<u>***<u>Nontransferability of Awards</u>***</u>

Except as otherwise permitted by the Board, awards granted under the 2014 Plan are not transferable, other than by will or the laws of descent and distribution or, other than in the case of an ISO, pursuant to a qualified domestic relations order, and, during the life of a participant, shall be exercisable only by immediate family members of a participant.

<u>***<u>Corporate Transactions resulting in a Change of Control</u>***</u>

*Awards other than Restricted Stock Awards.* In the event of certain corporate transactions that result in a change in control of the Company, the Board may provide that (i) any outstanding awards under the 2014 Plan other than Restricted Stock awards may be assumed or replaced by the successor corporation; (ii) upon written notice to a participant, unexercised stock options or other unexercised awards will terminate immediately prior to the change

[**Table of Contents**](#TOC001)

in control transaction, unless exercised by a participant prior thereto; (iii) outstanding awards become exercisable, realizable or deliverable, or restrictions shall lapse, in whole or in part, prior to upon such change in control; (iv) where holders of Class A Common Stock receive cash upon such change in control, participants will receive a cash payment equal to the excess of (A) the price payable for the Class A Common Stock multiplied by the number of shares of Class A Common Stock subject to the award less (B) the aggregate price payable by the participant to exercise such awards, if applicable, in exchange for the termination of such awards; (v) in connection with a liquidation or dissolution a participant will receive liquidation proceeds less any amounts payable to exercise the awards.

*Restricted Stock Awards.* Upon a change in control other than a liquidation or dissolution of the Company, the repurchase and other rights of the Company under each outstanding Restricted Stock award shall inure to the benefit of the Company's successor and shall, unless the Board determines otherwise, apply to the cash, securities or other property which the Class A Common Stock was converted into or exchanged for pursuant to such change in control in the same manner and to the same extent as they applied to the Class A Common Stock subject to such Restricted Stock award. Upon the occurrence of a change in control involving the liquidation or dissolution of the Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Stock award or any other agreement between a Participant and the Company, all restrictions and conditions on all Restricted Stock awards then outstanding shall automatically be deemed terminated or satisfied.

<u>***<u>Amendments</u>***</u>

The Board may alter, amend, suspend or discontinue the 2014 Plan at any time, so long as such alteration, amendment, suspension or termination does not adversely affect in any material way prior awards; *provided, however*, that if approval of the stockholders is required as to any modification or amendment pursuant Section 422 of the Code, with respect to incentive stock options, stockholder approval shall be required.

<u>***<u>Term of Plan</u>***</u>

The 2014 Plan was effective on January 25, 2014, and will remain in effect until January 25, 2024, unless it is terminated earlier by the Board.

*2019 Stock Incentive Plan*

Our board of directors and stockholders adopted our 2019 Stock Incentive Plan on August 27, 2019 (the "2019 Plan"). Our 2019 Plan allows for the grant of a variety of equity awards to provide flexibility in implementing equity awards, including incentive stock options, nonstatutory stock options, restricted stock, restricted stock units and other stock-based awards, including stock appreciation awards.

<u>***<u>Purpose</u>***</u>

The Board believes that the Company's ability to award incentive compensation based on equity in the Company is critical to its ability to attract, motivate and retain key personnel. The creativity and entrepreneurial drive of such employees and other personnel who provide services to the Company will be critical to our success. By giving our employees, consultants, advisors and directors an opportunity to share in the growth of our equity, we will align their interests with those of our stockholders. Our employees, consultants, advisors and directors will understand that their stake in the Company will have value only if, working together, we create value for our stockholders. Awards under the 2019 Plan will generally vest over a period of time giving the recipient an additional incentive to provide services over a number of years and build on past performance.

<u>***<u>Number of Shares</u>***</u>

As of December 31, 2022, 402,875 shares of our Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part) were reserved for grant or issuance under the 2019 Plan. The board of directors has adopted an amendment to the 2019 Plan, which is subject to the approval of our stockholders, to increase the number of shares of Class A Common Stock from 402,875 to 408,000 shares of Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by

[**Table of Contents**](#TOC001)

our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part). Any shares of Class A Common Stock that are represented by awards under the 2019 Plan that are forfeited, expire, or are cancelled or settled in cash without delivery of shares, or that are forfeited back to us or reacquired by us after delivery for any reason, or that are tendered to us or withheld to pay the exercise price or related tax withholding obligations in connection with any award under the 2019 Plan, will again be available for awards under the 2019 Plan. Only shares of Class A Common Stock actually issued under the 2019 Plan will reduce the share reserve.

The 2019 Plan imposes the following additional maximum limitations, which limitations will be adjusted to take into account stock splits, reverse stock splits and other similar occurrences: the maximum value of shares that may be issued in connection with incentive stock options granted to any one person in any calendar year intended to qualify under Code Section 422 is $100,000.

<u>***<u>Administration</u>***</u>

The 2019 Plan is administered by the board of directors. To the extent permitted by applicable law, the Board may delegate any or all powers under the 2019 Plan to any committee or subcommittee of the Board. The decisions of the Board or the Committee, as applicable, are final and binding upon all participants.

<u>***<u>Eligibility</u>***</u>

The selection of the participants in the 2019 Plan are generally determined by the Board. Employees and those about to become employees, including those who are officers or directors of the Company or its subsidiaries and affiliates, are eligible to be selected to receive awards under the 2019 Plan. In addition, non-employee service providers, including non-employee directors, and employees of unaffiliated entities that provide bona fide services to the Company not in connection with the offer and sale of securities in a capital-raising transaction are eligible to be selected to receive awards under the 2019 Plan.

<u>***<u>Types of Awards</u>***</u>

The 2019 Plan allows for the grant of ISOs, NSOs, Restricted Stock awards, RSUs and other stock-based awards, including SARs and other awards entitling participants to receive shares of our Class A Common Stock to be delivered in the future. Subject to the terms of the 2019 Plan, the Board or the Committee, as applicable, determines the terms and conditions of awards, including the times when awards vest or become payable and the effect of certain events such as termination of employment.

*Stock Options.* ISOs qualified with respect to Code Section 422 or NSOs not qualified under any section of the Code may be granted under the 2019 Plan. All stock options granted under the 2019 Plan must have an exercise price that is at least equal to the fair market value of our underlying Class A Common Stock on the grant date (110% of such fair market value in the case of an ISO granted to a participant who owns more than 10% of the total combined voting power of all classed of outstanding stock of the Company. No stock option granted under the 2019 Plan may have a term longer than ten years (five years in the case of the grant of an incentive stock option to a 10% Stockholder). The exercise price of stock options may be paid (i) in cash; (ii) by (A) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (B) delivery by a participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding; (iii) as long as the Class A Common Stock is registered under the Exchange Act and to the extent provided for in the applicable option agreement or approved by the Board, in its sole discretion, by delivery (either by actual delivery or attestation) of shares of Class A Common Stock owned by the participant valued at their fair market value, provided that, among other things, such Class A Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements; (iv) if provided for in the applicable option agreement or approved by the Board, in its sole discretion, by (A) delivery of a promissory note to the Company on terms determined by the Board, or (B) payment of such other lawful consideration as the Board may determine; and (v) any combination of the foregoing.

[**Table of Contents**](#TOC001)

*Restricted Stock Awards; Restricted Stock Units.* The Board or the Committee, as applicable, may grant awards entitling recipients to acquire shares of Class A Common Stock (i.e. Restricted Stock), subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from a participant in the event that conditions specified by the Board or the Committee, as applicable, in the applicable award agreement are not satisfied prior to the end of the applicable restriction period or periods established by the Board or the Committee, as applicable for such award. The Board or the Committee, as applicable, also may grant awards entitling a participant to RSUs entitling the participant to be issued shares of Class A Common Stock at the time the RSUs vest. Participants holding shares of Restricted Stock shall be entitled to the payment of dividends with respect to such shares of Restricted Stock.

*Other Stock*-Based *Awards.* The Board or the Committee, as applicable, may grant other awards of shares of Class A Common Stock, and other awards that are valued in whole or in part by reference to, or are otherwise based on, shares of Class A Common Stock or other property, may be granted hereunder to participants, including, without limitation, SARs and awards entitling recipients to receive shares of Class A Common Stock to be delivered in the future. Such other stock-based awards shall also be available as a form of payment in the settlement of other awards granted under the 2019 Plan or as payment in lieu of compensation to which a participant is otherwise entitled. Other stock-based awards may be paid in shares of Class A Common Stock or cash, as the Board or the Committee, as applicable, shall determine.

<u>***<u>Nontransferability of Awards</u>***</u>

Except as otherwise permitted by the Board, awards granted under the 2019 Plan are not transferable, other than by will or the laws of descent and distribution or, other than in the case of an ISO, pursuant to a qualified domestic relations order, and, during the life of a participant, shall be exercisable only by immediate family members of a participant.

<u>***<u>Corporate Transactions resulting in a Change of Control</u>***</u>

*Awards other than Restricted Stock Awards.* In the event of certain corporate transactions that result in a change in control of the Company, the Board may provide that (i) any outstanding awards under the 2019 Plan other than Restricted Stock awards may be assumed or replaced by the successor corporation; (ii) upon written notice to a participant, unexercised stock options or other unexercised awards will terminate immediately prior to the change in control transaction, unless exercised by a participant prior thereto; (iii) outstanding awards become exercisable, realizable or deliverable, or restrictions shall lapse, in whole or in part, prior to upon such change in control; (iv) where holders of Class A Common Stock receive cash upon such change in control, participants will receive a cash payment equal to the excess of (A) the price payable for the Class A Common Stock multiplied by the number of shares of Class A Common Stock subject to the award less (B) the aggregate price payable by the participant to exercise such awards, if applicable, in exchange for the termination of such awards; or (v) in connection with a liquidation or dissolution a participant will receive liquidation proceeds less any amounts payable to exercise the awards.

*Restricted Stock Awards.* Upon a change in control other than a liquidation or dissolution of the Company, the repurchase and other rights of the Company under each outstanding Restricted Stock award shall inure to the benefit of the Company's successor and shall, unless the Board determines otherwise, apply to the cash, securities or other property which the Class A Common Stock was converted into or exchanged for pursuant to such change in control in the same manner and to the same extent as they applied to the Class A Common Stock subject to such Restricted Stock award. Upon the occurrence of a change in control involving the liquidation or dissolution of the Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Stock award or any other agreement between a Participant and the Company, all restrictions and conditions on all Restricted Stock awards then outstanding shall automatically be deemed terminated or satisfied.

<u>***<u>Amendments</u>***</u>

The Board may alter, amend, suspend or discontinue the 2019 Plan at any time, so long as such alteration, amendment, suspension or termination does not adversely affect in any material way prior awards; *provided, however*, that if approval of the stockholders is required as to any modification or amendment pursuant Section 422 of the Code, with respect to incentive stock options, stockholder approval shall be required.

[**Table of Contents**](#TOC001)

<u>***<u>Term of Plan</u>***</u>

The 2019 Plan was effective on August 27, 2019, and will remain in effect until August 27, 2029, unless it is terminated earlier by the Board.

*2023 Equity Incentive Plan*

For future equity awards, our Board plans to adopt the 2023 Equity Incentive Plan ("2023 Plan") to provide an additional means through which to the grant of awards to attract, motivate, retain and reward selected key employees and other eligible persons, including our NEOs. In addition to being adopted by the Board, we will also obtain approval for the 2023 Plan from our stockholders. A summary of our proposed 2023 Plan is set out below.

<u>***<u>Number of Shares</u>***</u>

800,000 shares of our Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our Board, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part) are reserved for grant or issuance under the 2023 Plan. Shares issuable under the 2023 Plan may be authorized, but unissued, or reacquired shares. Up to 800,000 shares of our Class A Common Stock may be issued upon the exercise of incentive stock options.

Any shares of Class A Common Stock that are represented by awards under the 2023 Plan that are forfeited, expire, or are cancelled or settled in cash without delivery of shares, or that are forfeited back to us or reacquired by us after delivery for any reason, or that are tendered to us or withheld to pay the exercise price or related tax withholding obligations in connection with any award under the 2023 Plan, will again be available for awards under the 2023 Plan. Only shares of Class A Common Stock actually issued under the 2023 Plan will reduce the share reserve.

<u>***<u>Annual Limitation on Awards to</u> <u>Non-Employee</u> <u>Directors</u>***</u>

The 2023 Plan contains a limitation whereby the value of all awards under the 2023 Plan and all other cash compensation paid by the Company to any non-employee director may not exceed $750,000 for the first calendar year a non-employee director is initially appointed to the Board, and $500,000 in any other calendar year.

<u>***<u>Administration</u>***</u>

The 2023 Plan will be administered by our Compensation Committee or such other similar committee pursuant to the terms of the 2023 Plan. The plan administrator, which initially will be our Compensation Committee, will have full power to select, from among the individuals eligible for awards, the individuals to whom awards will be granted, to make any combination of awards to participants, and to determine the specific terms and conditions of each award, subject to the provisions of the 2023 Plan. The plan administrator may delegate to one or more of our officers the authority to grant awards to individuals who are not subject to the reporting and other provisions of Section 16 of the Exchange Act.

<u>***<u>Eligibility</u>***</u>

Persons eligible to participate in the 2023 Plan will be officers, employees, non-employee directors, and consultants of the Company and its subsidiaries as selected from time to time by the plan administrator in its discretion.

<u>***<u>Types of Awards</u>***</u>

The 2023 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, and other-stock based awards, or collectively, awards.

*Stock Options.* The 2023 Plan permits the granting of both options to purchase shares of our Class A Common Stock intended to qualify as incentive stock options under Section 422 of the Code ("ISOs") and options that do not so qualify (nonstatutory stock option or "NSOs"). Options granted under the 2023 Plan will be NSOs if they fail to qualify as ISOs or exceed the annual limit on ISOs. ISOs may only be granted to employees of the Company and its subsidiaries. NSOs may be granted to any persons eligible to receive awards under the 2023 Plan.

[**Table of Contents**](#TOC001)

The option exercise price of each option will be determined by the plan administrator. The exercise price for an ISO may not be less than 100% of the fair market value of the Company's common stock on the date of grant or, in the case of an ISO granted to a 10% stockholder, 110% of such share's fair market value. The term of each option will be fixed by the plan administrator and may not exceed ten (10) years from the date of grant (or five years for an ISO granted to a 10% stockholder). The plan administrator will determine at what time or times each option may be exercised, including the ability to accelerate the vesting of such options.

Upon exercise of options, the option exercise price must be paid in full either in cash, check, or, with approval of the plan administrator, by delivery (or attestation to the ownership) of shares of Company common stock that are beneficially owned by the optionee free of restrictions or were purchased in the open market. Subject to applicable law and approval of the plan administrator, the exercise price may also be made by means of a broker-assisted cashless exercise. In addition, the plan administrator may permit NSOs to be exercised using a "net exercise" arrangement that reduces the number of shares issued to the optionee by the largest whole number of shares with fair market value that does not exceed the aggregate exercise price.

*Stock Appreciation Rights.* The plan administrator may award stock appreciation rights ("SARs") subject to such conditions and restrictions as it may determine. SARs entitle the recipient to shares of Class A Common Stock, or cash, equal to the value of the appreciation in the Company's stock price over the exercise price, as set by the plan administrator. The term of each SAR will be fixed by the plan administrator and may not exceed ten years from the date of grant. The plan administrator will determine at what time or times each SAR may be exercised, including the ability to accelerate the vesting of such SARs.

*Restricted Stock.* A restricted stock award is an award of Class A Common Stock that vests in accordance with the terms and conditions established by the plan administrator. The plan administrator will determine the persons to whom grants of restricted stock awards are made, the number of restricted shares to be awarded, the price (if any) to be paid for the restricted shares, the time or times within which awards of restricted stock may be subject to forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of restricted stock awards. Unless otherwise provided in the applicable award agreement, a participant generally will have the rights and privileges of a stockholder as to such restricted shares, including without limitation the right to vote such restricted shares and the right to receive dividends, if applicable.

*Restricted Stock Units.* Restricted stock units ("RSUs") are the right to receive shares of Class A Common Stock at a future date in accordance with the terms of such grant upon the attainment of certain conditions specified by the plan administrator. Restrictions or conditions could include, but are not limited to, the attainment of performance goals, continuous service with the Company or its subsidiaries, the passage of time or other restrictions or conditions. The plan administrator determines the persons to whom grants of RSUs are made, the number of RSUs to be awarded, the time or times within which awards of RSUs may be subject to forfeiture, the vesting schedule, and rights to acceleration thereof, and all other terms and conditions of the RSUs. The value of the RSUs may be paid in shares of Class A Common Stock, cash, other securities, other property, or a combination of the foregoing, as determined by the plan administrator.

The holders of RSUs will have no voting rights. Prior to settlement or forfeiture, RSUs awarded under the 2023 Plan may, at the plan administrator's discretion, provide for a right to dividend equivalents. Such right entitles the holder to be credited with an amount equal to all dividends paid on one share of Class A Common Stock while each RSU is outstanding. Dividend equivalents may be converted into additional RSUs. Settlement of dividend equivalents may be made in the form of cash, Class A Common Stock, other securities, other property, or a combination of the foregoing. Prior to distribution, any dividend equivalents shall be subject to the same conditions and restrictions as the RSUs to which they are payable.

*Other Stock*-Based *Awards.* Other stock-based awards may be granted either alone, in addition to, or in tandem with, other awards granted under the 2023 Plan and/or cash awards made outside of the 2023 Plan. The plan administrator shall have authority to determine the persons to whom and the time or times at which other stock-based awards will be made, the amount of such other stock-based awards, and all other conditions, including any dividend and/or voting rights.

[**Table of Contents**](#TOC001)

<u>***<u>Tax Withholding</u>***</u>

Participants in the 2023 Plan are responsible for the payment of any federal, state, or local taxes that the Company or its subsidiaries are required by law to withhold upon the exercise of options or stock appreciation rights or vesting of other awards. The plan administrator may cause any tax withholding obligation of the Company or its subsidiaries to be satisfied, in whole or in part, by the applicable entity withholding from shares of Class A Common Stock to be issued pursuant to an award a number of shares with an aggregate fair market value that would satisfy the withholding amount due. The plan administrator may also require any tax withholding obligation of the Company or its subsidiaries to be satisfied, in whole or in part, by an arrangement whereby a certain number of shares issued pursuant to any award are immediately sold and proceeds from such sale are remitted to the Company or its subsidiaries in an amount that would satisfy the withholding amount due.

<u>***<u>Transferability of Awards</u>***</u>

Unless determined otherwise by the plan administrator, an award may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner, except to a participant's estate or legal representative, and may be exercised, during the lifetime of the participant, only by the participant. If the plan administrator makes an award transferable, such award will contain such additional terms and conditions as the plan administrator deems appropriate.

<u>***<u>Equitable Adjustments</u>***</u>

In the event of a merger, consolidation, recapitalization, stock split, reverse stock split, reorganization, split-up, spin-off, combination, repurchase or other change in corporate structure affecting the Company's Class A Common Stock, the maximum number and kind of shares reserved for issuance or with respect to which awards may be granted under the 2023 Plan will be adjusted to reflect such event, and the plan administrator will make such adjustments as it deems appropriate and equitable in the number, kind, and exercise price of shares covered by outstanding awards made under the 2023 Plan.

<u>***<u>Change in Control</u>***</u>

In the event of any proposed change in control (as defined in the 2023 Plan), the plan administrator will take any action as it deems appropriate, which action may include, without limitation, the following: (i) the continuation of any award, if the Company is the surviving corporation; (ii) the assumption of any award by the surviving corporation or its parent or subsidiary; (iii) the substitution by the surviving corporation or its parent or subsidiary of equivalent awards; (iv) accelerated vesting of the award, with all performance objectives and other vesting criteria deemed achieved at targeted levels, and a limited period during which to exercise the award prior to closing of the change in control, or (v) settlement of any award for the change in control price (less, to the extent applicable, the per share exercise price).

<u>***<u>Amendment and Termination</u>***</u>

The Board may amend or terminate the 2023 Plan at any time. Any such termination will not affect outstanding awards. No amendment, alteration, suspension, or termination of the 2023 Plan will materially impair the rights of any participant, unless mutually agreed otherwise between the participant and the Company. Approval of the stockholders shall be required for any amendment, where required by applicable law, as well as (i) to increase the number of shares available for issuance under the 2023 Plan and (ii) to change the persons or class of persons eligible to receive awards under the 2023 Plan.

<u>***<u>Term of Plan</u>***</u>

The 2023 Plan will terminate 10 years after the effective date of the 2023 Plan.

[**Table of Contents**](#TOC001)

#### CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
Other than compensation arrangements for our directors and executive officers, which are described elsewhere in this prospectus, the following describes transactions since the last two completed fiscal years, and each currently proposed transaction in which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• we have been or are to be a participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the amounts involved exceeds $120,000; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any of our directors, executive officers or holders of more than 5% of our outstanding capital stock, or any immediate family member of, or person sharing the household with, any of these individuals or entities, had or will have a direct or indirect material interest.

All indebtedness owed to the related parties set forth below reflect outstanding amounts owed by us to the respective parties; all such amounts aside from certain amounts of accrued interest payable to WH&W, in cash, upon the closing of this Offering, will convert into shares of our Class A Common Stock upon the closing of this Offering.

Michael Feldman, the Executive Officer and a director of the Company, was owed outstanding principal, with respect to indebtedness of the Company to him, in an aggregate amount of $509,661, $567,729 and $652,651, at December 31, 2020, December 31, 2021, and September 30, 2022, respectively. Mr. Feldman was paid $104,000 of principal as of December 31, 2021, but was not paid any principal during any of the other periods mentioned. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $415,769. The Company's indebtedness to Mr. Feldman's is evidenced by notes payable and convertible notes.

Andrea Feldman, Michael Feldman's sister, was owed outstanding principal, with respect to indebtedness of the Company to her, in an aggregate amount of $215,602 and $261,602, at December 31, 2021 and September 30, 2022, respectively. No principal was paid to Ms. Feldman, during any of these periods. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $32,499. The Company's indebtedness to Ms. Feldman is evidenced by convertible notes.

Ellen Feldman and Ronald Brockman, Michael Feldman's sister and her husband, were owed outstanding principal, with respect to indebtedness to the Company to them, in an aggregate amount of $126,269, $394,602 and $440,602, at December 31, 2020, December 31, 2021, and September 30, 2022, respectively. No principal was paid to Ms. Feldman and Mr. Brockman, during any of these periods. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $58,492. The Company's indebtedness to Ms. Feldman and Mr. Brockman is evidenced by convertible notes.

Dr. Bobby Wooten, Michael Feldman's father-in-law, was owed outstanding principal, with respect to indebtedness of the Company to him, in an aggregate amount of $36,828, $137,453 and $171,953, at December 31, 2020, December 31, 2021, and September 30, 2022, respectively. No principal was paid to Dr. Wooten, during any of these periods. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $20,709. The Company's indebtedness to Dr. Wooten is evidenced by convertible notes.

Juanna Wooten, Michael Feldman's mother-in-law, was owed outstanding principal, with respect to indebtedness of the Company to her, in an aggregate amount of $36,828, $137,453 and $171,953, at December 31, 2020, December 31, 2021, and September 30, 2022, respectively. No principal was paid to Ms. Wooten, during any of these periods. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $20,709. The Company's indebtedness to Ms. Wooten is evidenced by convertible notes.

Robert Wooten, Michael Feldman's brother-in-law, was owed outstanding principal, with respect to indebtedness of the Company to him, in an aggregate amount of $91,921, $250,046 and $2854,546 at December 31, 2020, December 31, 2021 and September 30, 2022, respectively. No principal was paid to Mr. Wooten, during any of these periods. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $38,541. The Company's indebtedness to Mr. Wooten is evidenced by convertible notes.

[**Table of Contents**](#TOC001)

Kristen Wooten, Michael Feldman's sister-in-law, was owed outstanding principal, with respect to indebtedness of the Company to her, in an aggregate amount of $158,125 and $250,125 at December 31, 2021 and September 30, 2022, respectively. No principal was paid to Ms. Wooten, during any of these periods. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $24,675. The Company's indebtedness to Ms. Wooten is evidenced by convertible notes.

T1 Investment was owed outstanding principal, with respect to indebtedness of the Company to it, in an aggregate amount of $750,000, at December 31, 2020, December 31, 2021, and September 30, 2022. No principal was paid to T1 Investment during any of these periods. As of September 30, 2022, T1 Investment was paid accrued interest of $32,086 in 2022. T1 Investment was also paid accrued interest of $25,585 and $27,113, in 2021 and 2020, respectively. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $905,459. The Company's indebtedness to T1 Investment is evidenced by convertible notes and revenue loans. T1 Investment is also a Selling Stockholder in this Offering with respect to a portion of any over-allotment shares purchased by the underwriters in connection with their Over-Allotment Option. Additionally, Christopher McKee, a current director of the Company, who will resign as a director of the Company, upon the closing of this Offering, is the managing member of T1 Investment. Upon completion of the Offering, $282,000 in original principal amount and accrued interest owed to T1 Investment under the Side Letter, which was not previously convertible, will be converted into 56,130 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit. In connection with such conversion, T1 Investment will be paid a fee of $24,882 in the event that the volume weighted average price for the Class A Common Stock for the six month period immediately following the completion of this Offering is less than the initial public offering price per share of the Class A Common Stock.

Taximus AG ("Taximus") was owed outstanding principal, with respect to indebtedness of the Company to it, in an aggregate amount of $150,000, 552,500 and $690,500, at December 31, 2020, December 31, 2021, and September 30, 2022, respectively. No principal was paid to Taximus, during any of these periods. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $83,384. The Company's indebtedness to Taximus is evidenced by convertible notes. Dieter Woefle, a director of the Company, is the President of Taximus.

WH&W was owed outstanding principal, with respect to indebtedness of the Company to it, in an aggregate amount of $1,382,099, at December 31, 2020, December 31, 2021, and September 30, 2022. No principal was paid to WH&W during any of these periods.

As of September 30, 2022, WH&W was paid accrued interest of $32,086 in 2022. WH&W was also paid accrued interest of $25,585 and $27,113, in 2021 and 2020, respectively. Accrued and unpaid interest on the aggregate outstanding principal amount at December 31, 2022 was $566,812. The Company's indebtedness to WH&W is evidenced by convertible notes and revenue loans. WH&W is also a Selling Stockholder in this Offering with respect to a portion of any over-allotment shares purchased by the underwriters in connection with their Over-Allotment Option. Additionally, John Stein, a current director of the Company, who will resign as a director of the Company, upon the closing of this Offering, is a co-founder of Fidelis Capital, LLC, the investment sub-advisor to WH&W. Upon completion of the Offering, $282,000 in original principal amount and accrued interest owed to WH&W under the Side Letter, which was not previously convertible, will be converted into 56,130 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit. In connection with such conversion, WH&W will be paid a fee of $24,882 in the event that the volume weighted average price for the Class A Common Stock for the six month period immediately following the completion of this Offering is less than the initial public offering price per share of the Class A Common Stock.

[**Table of Contents**](#TOC001)

Ross Annable, a 5% shareholder of the Company, was owed outstanding principal of $259,310 at December 31, 2020 and $559,310 at December 31, 2021 and September 30, 2022. No principal was paid to Mr. Annable during any of these periods. Accrued and unpaid interest on the aggregate outstanding principal amounts at December 31, 2022, was $67,347. The Company's indebtedness to Mr. Annable is evidenced by notes payable and convertible notes. Upon completion of the Offering, $200,000 in original principal amount and accrued interest owed to Mr. Annable under certain promissory notes held by Mr. Annable, which was not previously convertible, will be converted into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit. In connection with such conversion, Mr. Annable will be paid a fee of $17,647 in the event that the volume weighted average price for the Class A Common Stock for the six month period immediately following the completion of this Offering is less than the initial public offering price per share of the Class A Common Stock.

The conversion of the convertible debt securities described above into shares of our Class A Common Stock upon the closing of this Offering will dilute the ownership interests of existing stockholders and investors in this Offering to the extent such conversion will be at a price lower than the price of our Class A Common Stock sold in this Offering. Additionally, any future sales in the public market of Class A Common Stock issuable upon such conversion could adversely affect prevailing market prices of our Class A Common Stock. The personal and financial interests of our directors, officers and their affiliates who own such shares of Class A Common Stock will influence the terms, conditions and timing of any decision to sell these shares, which may result in a conflict of interest between our directors, officers and their affiliates and investors in this Offering, to the extent described above.

[**Table of Contents**](#TOC001)

#### PRINCIPAL STOCKHOLDERS
The following table sets forth information with respect to the beneficial ownership of our capital stock as of January 20, 2023, and as adjusted to reflect the sale of our Class A Common Stock, for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each of our named executive officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each of our directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• all of our executive officers and directors as a group; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each person or group of affiliated persons known by us to beneficially own more than 5% of our Class A Common Stock or Class B Common Stock.

We have determined beneficial ownership in accordance with the rules and regulations of the SEC and the information is not necessarily indicative of beneficial ownership for any other purpose. Except as indicated by the footnotes below, we believe, based on information furnished to us, that the persons and entities named in the table below have sole voting and sole investment power with respect to all shares that they beneficially own, subject to applicable community property laws.

Applicable percentage ownership before this Offering is based on (i) 841,175 shares of our common stock outstanding on January 20, 2023, which will be reclassified as Class A Common Stock. Applicable percentage ownership after this Offering is based on 8,186,109 shares of Class A Common Stock and 2,458,914 shares of Class B Common Stock outstanding immediately after the completion of this Offering. In computing the number of shares beneficially owned by a person and the percentage ownership of such person, we deemed to be outstanding all shares subject to options or warrants held by the person that are currently exercisable, or exercisable within 60 days of January 20, 2023, or the completion of this Offering, as applicable. However, except as described above, we did not deem such shares outstanding for the purpose of computing the percentage ownership of any other person. We have assumed (i) no exercise of any of the Investor Warrants and (ii) no sales by Selling Stockholders of their shares of Class A Common Stock, in connection with the exercise of the over-allotment option by the Underwriters, as described elsewhere in this prospectus.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Shares Beneficially Owned <br>Prior to Offering<sup>(1)</sup>** | **Shares Beneficially Owned <br>Prior to Offering<sup>(1)</sup>** | **Shares Beneficially Owned <br>Prior to Offering<sup>(1)</sup>** | **Shares Beneficially Owned <br>After Offering<sup>(1)</sup>** | **Shares Beneficially Owned <br>After Offering<sup>(1)</sup>** | **Shares Beneficially Owned <br>After Offering<sup>(1)</sup>** |
|  **Name of Beneficial Owner** | **Class A <br>Common <br>Stock** | **Class B <br>Common <br>Stock** | **% of <br>Total <br>Voting <br>Power** | **Class A <br>Common Stock and Class B Common Stock** | **Class A <br>Common Stock and Class B Common Stock** | **% of <br>Total <br>Voting <br>Power<sup>(2)</sup>** |
|  **Name of Beneficial Owner** | **Shares** | **Shares** | **% of <br>Total <br>Voting <br>Power** | **Shares** | **%** | **% of <br>Total <br>Voting <br>Power<sup>(2)</sup>** |
|  **Directors and Named Executive Officers**<sup>(2)</sup> |  |  |  |  |  |  |
|  Michael Feldman<sup>(4)</sup> | 1249600 |  | 65.8% | 1517833 | 14.3% | 32.0% |
|  James Morris<sup>(5)</sup> | 240950 |  | 26.1% | 254435 |  | 2.8% |
|  Adam Loritsch<sup>(6)</sup> | 48437 |  | 5.4% | 48437 | \* | \* |
|  Diane Thompson<sup>(7)</sup> | 1250 |  | \* | 9974 |  | \* |
|  Dieter Woelfle<sup>(8)</sup> | 49325 |  | 5.5% | 264148 | 2.5% | \* |
|  John Stein<sup>(9)</sup> | 505700 |  | 37.4% | 1289831 |  | 15.5% |
|  Christopher McKee<sup>(10)</sup> | 1161808 |  | 57.9% | 1346697 |  | 15.8% |
|  David Almagor (Director Nominee) |  |  |  |  |  |  |
|  <sup>Tracy S. Clifford (Director Nominee)</sup> |  |  |  |  |  |  |
|  All directors and executive officers as a group (9 persons)<sup>(11)</sup> | 3257070 |  | 87.2% | 4731406 | 44.4% | 66.9% |
|  **Other 5% Stockholders** |  |  |  |  |  |  |
|  Ross Annable<sup>(12)</sup> | 231650 | **—** | 21.7% | 386932 | 3.6% | 1.2% |
|  IMAF Charlotte, LLC<sup>(13)</sup> | 100325 |  | 10.6% | 104358 | 1.0% | \* |
|  WH&W Private Market Investment Fund I, LLC<sup>(14)</sup> | 505700 | **—** | 37.4% | 1289831 | 12.1% | 15.5% |
|  T1 Investment, LLC<sup>(15)</sup> | 1063183 |  | 55.7% | 1116840 | 11.0% | 15.4% |

---

____________

\* Represents beneficial ownership of less than 1%.

[**Table of Contents**](#TOC001)

(1) Although our common stock had not been reclassified into shares of Class A Common Stock and Class B Common Stock, as of January 1, 2023, the number of shares owned prior to this Offering reflect what the ownership of those shares would have been, as of that date, giving effect to the applicable reclassifications.

(2) Unless otherwise indicated, the address of each of the officers and directors is c/o T1V, Inc., 5025 West W.T. Harris Blvd, Suite A Charlotte, NC 28269.

(3) Voting percentage after the Offering reflects the fact that shares of Class A Common Stock will have one vote per share and shares of Class B Common Stock will have 10 votes per share.

(4) The number of shares of Class A Common Stock beneficially owned by Mr. Feldman, prior to the Offering, includes, as of January 20, 2023, 168,375 shares of common stock owned by Mr. Feldman and 28,325 shares of common stock owned by his wife, Anne Denise Feldman, all of which are to be reclassified as shares of Class A Common Stock. The shares of Class A Common Stock beneficially owned by Mr. Feldman, prior to the Offering, also includes the following, which are convertible within 60 days after January 20, 2023 (i) up to 612,600 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Mr. Feldman in the event he voluntarily converts his shares of Series A Preferred Stock; (ii) up to 3,975 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Mr. Feldman in the event he voluntarily converts his shares of Series B Preferred Stock; (iii) up to 224,725 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Ms. Feldman in the event she voluntarily converts her shares of Series A Preferred Stock; (iv) up to 153,525 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Feldman Family Investments, LLC, a limited liability company in which Mr. Feldman is the Manager ("Feldman Investments"), in the event it voluntarily converts its shares of Series A Preferred Stock; and (v) up to 58,075 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Feldman Investments, in the event it voluntarily converts its shares of Series B Preferred Stock. The number of shares of Class A Common Stock beneficially owned by Mr. Feldman, prior to the Offering, does not include up to 152,595 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Mr. Feldman, upon the conversion of certain convertible notes, none of which are convertible within 60 days after January 20, 2023.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by Mr. Feldman, after the Offering, includes (i) 168,375 shares of Class A Common Stock owned by Mr. Feldman and 28,325 shares of Class A Common Stock owned his wife; (ii) 612,600 shares of Class B Common Stock which will be issued to Mr. Feldman, upon the automatic conversion of his shares of Series A Preferred Stock, on or around the closing of the Offering; (iii) 3,975 shares of Class A Common Stock which will be issued to Mr. Feldman, upon the automatic conversion of his shares of Series B Preferred Stock, on or around the closing of the Offering; (iv) 224,725 shares of Class B Common Stock which will be issued to Ms. Feldman, upon the automatic conversion of her shares of Series A Preferred Stock, on or around the closing of the Offering; (v) 153,525 shares of Class B Common Stock which will be issued to Feldman Investments, upon the automatic conversion of its shares of Series A Preferred Stock, on or around the closing of the Offering; (vi) 58,075 shares of Class A Common Stock which will be issued to Feldman Investments, upon the automatic conversion of its shares of Series B Preferred Stock, on or around the closing of the Offering; (vii) 102,632 shares of Class A Common Stock which will be issued to Mr. Feldman, upon the conversion of certain convertible note(s), on or around the closing of the Offering; (viii) 153,071 shares of Class A Common Stock which will be issued to Mr. Feldman, upon the conversion of certain note(s), which are not currently convertible, but will be converted on or around the closing of the Offering; and (ix) 12,580 shares of Class A Common Stock which will be issued to Mr. Feldman and Feldman Investments, in the aggregate, as a dividend on their shares of Series B Preferred Stock, on around the closing of the Offering.

(5) The number of shares of Class A Common Stock beneficially owned by Mr. Morris, prior to the Offering, consists of, as of January 20, 2023, 161,625 shares of common stock owned by Mr. Mr. Morris, which are to be reclassified as shares of Class A Common Stock. The shares of Class A Common Stock beneficially owned by Mr. Morris, prior to the Offering, also includes the following, which are convertible within 60 days after January 20, 2023, (i) up to 71,925 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Mr. Morris, in the event he voluntarily converts his shares of Series A Preferred Stock and (ii) up to 7,400 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Mr. Morris, in the event he voluntarily converts his shares of Series B Preferred Stock.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by Mr. Morris, after the Offering, includes (i) 161,625 shares of Class A Common Stock; (ii) 71,925 shares of Class B Common Stock which will be issued to Mr. Morris, upon the automatic conversion of his shares of Series A Preferred Stock, on or around the closing of the Offering; (iii) 7,400 shares of Class A Common Stock which will be issued to Mr. Morris, upon the automatic conversion, of his shares of Series B Preferred Stock, on or around the closing of the Offering; (iv) 1,730 shares of Class A Common Stock which will be issued to Mr. Morris as a dividend on his shares of Series B Preferred Stock, on around the closing of the Offering; and (v) 11,755 shares of Class A Common Stock which will be issued to Mr. Morris, upon the conversion of certain note(s), which are not currently convertible, but will be converted on or around the closing of the Offering.

(6) The number of shares of Class A Common Stock beneficially owned by Mr. Loritsch, prior to and after the Offering, consists of options to purchase 48,437 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Mr. Loritsch, upon exercise, all of which options are exercisable within 60 days after January 20, 2023.

[**Table of Contents**](#TOC001)

(7) The number of shares of Class A Common Stock beneficially owned by Ms. Thompson, prior to the Offering, consists of options to purchase up to 1,250 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Ms. Thompson, upon exercise, all of which are exercisable within 60 days after January 20, 2023. The number of shares of Class A Common Stock beneficially owned by Ms. Thompson, prior to the Offering, does not include up to 8,724 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Ms. Thompson, upon the conversion of certain convertible note(s), which are not convertible within 60 days after January 20, 2023.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by Ms. Thompson, after the Offering, includes (i) 8,724 shares of Class A Common Stock which will be issued to Ms. Thompson, upon the conversion of certain convertible note(s), on or around the closing of the Offering and (ii) up to 1,250 shares of Class A Common Stock issuable to Ms. Thompson, upon the exercise of options.

(8) The number of shares of Class A Common Stock beneficially owned by owned by Mr. Woelfle consists of up to 49,325 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Taximus Holding, AG, an entity in which Mr. Woelfle is the President ("Taximus"), in the event it voluntarily converts its shares of Series B Preferred Stock, which is convertible within 60 days of January 20, 2023. The number of shares of Class A Common Stock beneficially owned by Mr. Woefle, prior to the Offering, does not include up to 208,263 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Taximus, upon the conversion of certain convertible note(s), which are not convertible within 60 days after January 20, 2023.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by Mr. Woefle, after the Offering, includes (i) 49,325 shares of Class A Common Stock which will be issued to Taximus, upon the automatic conversion of its shares of Series B Preferred Stock, on or around the closing of the Offering; (ii) 208,263 shares of Class A Common Stock which will be issued to Taximus, upon the conversion of certain convertible notes, on or around the closing of the Offering; and (iii) 6,560 shares of Class A Common Stock which will be issued to Taximus, as a dividend on its Series B Preferred Stock, on around the closing of the Offering.

(9) All of the shares of Class A Common Stock and Class B Common Stock beneficially owned by Mr. Stein, before and after the Offering, are, or will be, owned by WH&W, one of the Selling Stockholders. Mr. Stein is a co-founder of Fidelis Capital, LLC, which is the sub-advisor to WH&W, and, as a result, has control over these shares. Mr. Stein, a current director of the Company, will resign as a director of the Company, upon the closing of the Offering. See footnote (14) below for a detailed description of beneficial ownership by WH&W.

(10) A substantial portion of the shares of Class A Common Stock beneficially owned by Mr. McKee, before and after the Offering, are, or will be, owned by T1 Investment, one of the Selling Stockholders. Mr. McKee is the Manager of T1 Investment. Mr. McKee also beneficially owns, or will beneficially own, shares of Class A Common Stock either directly, or as a result of, his being the principal of McKee Group Capital, LLC ("McKee Group Capital"). Information with respect to such beneficial ownership is as follows:

In addition to the number of shares of Class A Common Stock beneficially owned by Mr. McKee, prior to the Offering, as a result of his beneficial ownership of the shares owned by T1 Investment, the number of shares of Class A Common Stock beneficially owned by Mr. McKee, prior to the Offering, consists of 98,625 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to McKee Group Capital in the event it voluntarily converts its shares of Series B Preferred Stock.

In addition to the number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) beneficially owned by Mr. McKee, after the Offering, as a result of his beneficial ownership of the shares owned by T1 Investment, the number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) beneficially owned by Mr. McKee, after the Offering, includes (i) 98,625 shares of Class A Common Stock which will be issued to McKee Capital Group, upon the automatic conversion of its shares of Series B Preferred Stock, on or around the closing of the Offering; (ii) 14,764 shares of Class A Common Stock which will be issued to McKee Capital Group, as a dividend on its Series B Preferred Stock, on around the closing of the Offering; (iii) a warrant to purchase up to 10,350 shares of Class A Common Stock; and (iv) 56,124 shares of Class A Common Stock which will be issued to Mr. McKee, upon the conversion of certain note(s), which are not currently convertible, but will be converted, on or around the closing of the Offering.

See footnote (15) below for a detailed description of beneficial ownership by T1 Investment.

(11) The number of shares of Class A Common Stock beneficially owned by all officers and directors, before the Offering, and the number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) beneficially owned by all officers and directors, after the offering, includes all shares described in footnotes (4) through (10) above.

(12) The number of shares of Class A Common Stock beneficially owned by Mr. Annable, prior to the Offering, includes, as of January 20, 2023, the following, which are convertible within 60 days after January 20, 2023 (i) up to 230,425 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Mr. Annable, in the event he voluntarily converts his shares of Series A Preferred Stock and (ii) a warrant to purchase up to 1,225 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to Mr. Annable, upon exercise. The number

[**Table of Contents**](#TOC001)

of shares of Class A Common Stock beneficially owned by Mr. Annable, prior to the Offering, does not include up to 77,871 shares of common stock (which are to be reclassified as Class A Common Stock) issuable to Mr. Annable, upon the conversion of certain convertible notes, none of which are convertible within 60 days after January 20, 2023.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by Mr. Annable, after the Offering, includes (i) 230,425 shares of Class A Common Stock, which will be issued to Mr. Annable, upon the automatic conversion of his shares of Series B Preferred Stock, on or around the closing of the Offering; (ii) 77,871 shares of Class A Common Stock which will be issued to Mr. Annable, upon the conversion of certain convertible note(s), on or around the closing of the Offering; (iii) 39,808 shares of Class A Common Stock which will be issued to Annable, upon the conversion of certain note(s), which are not currently convertible, but will be converted on or around the closing of the Offering (iv) 37,618 shares of Class A Common Stock which will be issued to Mr. Annable, as a dividend on his Series B Preferred Stock, on around the closing of the Offering; and (v) a warrant to purchase up to 1,225 shares of Class A Common Stock issuable to Mr. Annable, upon exercise.

(13) The shares of Class A Common Stock beneficially owned by IMAF Charlotte, LLC ("IMAF"), prior to the Offering, includes the following, which are convertible within 60 days after January 20, 2023 (i) up to 83,050 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to IMAF, in the event it voluntarily converts its shares of Series A Preferred Stock and (ii) up to 17,275 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to IMAF, in the event it voluntarily converts its shares of Series B Preferred Stock.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by IMAF, after the Offering, includes (i) 83,050 shares of Class B Common Stock which will be issued to IMAF, upon the automatic conversion of its shares of Series A Preferred Stock, on or around the closing of the Offering; (ii) 17,275 shares of Class A Common Stock, which will be issued to IMAF, upon the automatic conversion of its shares of Series B Preferred Stock on or around the closing of the Offering; and (iii) 3,906 shares of Class A Common Stock which will be issued to IMAF, as a dividend on its shares of Series B Preferred Stock, on around the closing of the Offering.

(14) The number of shares of Class A Common Stock beneficially owned by WH&W, prior to the Offering, consists of up to 505,700 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to WH&W in the event it voluntarily converts its shares of Series B Preferred Stock, which are convertible within 60 days after January 20, 2023. The number of shares of Class A Common Stock beneficially owned by WH&W, prior to the Offering, does not include up to 607,890 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to WH&W, upon the conversion of certain convertible note(s), none of which are convertible within 60 days after January 20, 2023.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by WH&W, after the Offering, includes (i) 505,700 shares of Class A Common Stock which will be issued to WH&W, upon the automatic conversion of its shares of Series B Preferred Stock, on or around the closing of the Offering; (ii) 188,449 shares of Class A Common Stock which will be issued to WH&W, upon the conversion of certain convertible note(s), on or around the closing of the Offering; (iii) 419,451 shares of Class B Common Stock which will be issued to WH&W, upon the conversion of certain convertible note(s), on or around the closing of the Offering; (iv) 56,119 shares of Class A Common Stock which will be issued to WH&W, upon the conversion of certain note(s), which are not currently convertible, but will be converted on or around the closing of the Offering; (v) 109,762 shares of Class A Common Stock which will be issued to WH&W, as a dividend on its shares of Series B Preferred Stock, on around the closing of the Offering; and (vi) a warrant to purchase up to 10,350 shares of Class A Common Stock. The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by WH&W, after the Offering, does not give effect to any shares of Class A Common Stock sold by WH&W, pursuant to the Over-Allotment Option.

(15) The number of shares of Class A Common Stock beneficially owned by T1 Investment, prior to the Offering, includes the following, which are convertible within 60 days after January 20, 2023, (i) up to 444,050 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to T1 Investment in the event it voluntarily converts its shares of Series B Preferred Stock; and (ii) up to 619,133 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to T1 Investment, upon the conversion of certain convertible note(s), all of which are convertible within 60 days after January 20, 2023.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by T1 Investment, after the Offering, includes (i) 444,050 shares of Class A Common Stock which will be issued to T1 Investment, upon the automatic conversion of its shares of Series B Preferred Stock, on or around the closing of the Offering; (ii) 191,931 shares of Class A Common Stock which will be issued to T1 Investment, upon the conversion of certain convertible note(s), on or around the closing of the Offering; and (iii) 427,202 shares of Class B Common Stock which will be issued to T1 Investment, upon the conversion of certain convertible note(s), on or around the closing of the Offering. The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by WH&W, after the Offering, does not give effect to any shares of Class A Common Stock sold by T1 Investment, pursuant to the Over-Allotment Option.

[**Table of Contents**](#TOC001)

#### SELLING STOCKHOLDERS
Pursuant to the terms of the Underwriting Agreement, the Company and the Selling Stockholders have granted the underwriters an option to purchase up to an additional 480,582 shares of Class A Common Stock (equal to 15% of the number of shares Class A Common Stock offered hereby) at the same initial offering price to the public, less the same underwriting discount as set forth in the table below. The underwriters may exercise this option any time during the 45-day period after the closing date of this Offering, but only to cover over-allotments, if any. To the extent the underwriters exercise the Over-Allotment Option for Shares of Class A Common Stock, all of the shares purchased upon the exercise of the Over-Allotment Option will be purchased from the Selling Stockholders, on a pro rata basis, as discussed elsewhere in this prospectus. The underwriters will become obligated, subject to certain conditions, to purchase the shares of Class A Common Stock for which they exercise the Over-Allotment Option. The Company will not receive any proceeds from the sale of the shares of Class A Common Stock by the Selling Stockholders to the underwriters pursuant to the Over-Allotment Option.

The following table and accompanying footnotes set forth the names of each of the Selling Stockholders, their respective relationships to the Company and the aggregate number of shares of Class A Common Stock that the Selling Stockholders may offer and sell to the underwriters in connection with their exercise of the Over-Allotment Option, as well as other information regarding the beneficial ownership (as determined under Section 13(d) of the Exchange Act and the rules and regulations thereunder) of the shares of the Class A Common Stock of the Company held by each of the Selling Stockholders.

The Selling Stockholders may sell some, all or none of the shares of Class A Common Stock, which will wholly depend on the number of over-allotment shares, if any, purchased by the underwriters in connection with their exercise of the Over-Allotment Option. Percentage voting power after this Offering is based on shares of Class A Common Stock and Class B Common Stock outstanding immediately after the completion of this Offering.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **SELLING STOCKHOLDER** | **NUMBER OF <br>SHARES OF <br>CLASS A <br>COMMON <br>STOCK <br>BENEFICIALLY <br>OWNED <br>PRIOR TO <br>OFFERING** | **MAXIMUM <br>NUMBER OF <br>SHARES OF <br>CLASS A <br>COMMON <br>STOCK TO BE <br>SOLD <br>PURSUANT TO <br>THIS <br>PROSPECTUS** | **SHARES BENEFICIALLY <br>OWNED AFTER THE <br>OFFERING** | **SHARES BENEFICIALLY <br>OWNED AFTER THE <br>OFFERING** |
|  **SELLING STOCKHOLDER** | **NUMBER OF <br>SHARES OF <br>CLASS A <br>COMMON <br>STOCK <br>BENEFICIALLY <br>OWNED <br>PRIOR TO <br>OFFERING** | **MAXIMUM <br>NUMBER OF <br>SHARES OF <br>CLASS A <br>COMMON <br>STOCK TO BE <br>SOLD <br>PURSUANT TO <br>THIS <br>PROSPECTUS** | **NUMBER OF <br>SHARES OF <br>CLASS A COMMON STOCK AND <br>CLASS B<br>COMMON <br>STOCK** | **PERCENTAGE <br>OF TOTAL <br>VOTING <br>POWER<sup>(1)</sup>** |
|  WH&W Private Market Investment <br>Fund I, LLC<sup>(</sup><sup>2</sup><sup>)</sup> | 505700 | 240291 | 1049540 | 14.7% |
|  T1 Investment, LLC<sup>(3)</sup> | 1063183 | 240291 | 876549 | 14.5% |

---

____________

(1) Voting percentage after the Offering reflects the fact that shares of Class A Common Stock will have one vote per share and shares of Class B Common Stock will have 10 votes per share.

(2) The number of shares of Class A Common Stock beneficially owned by WH&W, prior to the Offering, consists of up to 505,700 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to WH&W in the event it voluntarily converts its shares of Series B Preferred Stock, which are convertible within 60 days after January 20, 2023. The number of shares of Class A Common Stock beneficially owned by WH&W, prior to the Offering, does not include up to 607,890 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to WH&W, upon the conversion of certain convertible note(s), none of which are convertible within 60 days after January 20, 2023.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by WH&W, after the Offering, includes (i) 505,700 shares of Class A Common Stock which will be issued to WH&W, upon the automatic conversion of its shares of Series B Preferred Stock, on or around the closing of the Offering; (ii) 188,449 shares of Class A Common Stock which will be issued to WH&W, upon the conversion of certain convertible note(s), on or around the closing of the Offering; (iii) 419,451 shares of Class B Common Stock which will be issued to WH&W, upon the conversion of certain convertible note(s), on or around the closing of the Offering (iv) 56,119 shares of Class A Common Stock which will be issued to WH&W, upon the conversion of certain note(s), which are not currently convertible, but will be converted on or around the closing of the Offering; (v) 109,762 shares of Class A Common Stock which will be issued to WH&W, as a dividend on its shares of Series B Preferred Stock, on around the closing of the Offering;

[**Table of Contents**](#TOC001)

and (vi) a warrant to purchase up to 10,350 shares of Class A Common Stock. The number of shares of Class A Common Stock to be beneficially owned by WH&W, after the Offering, give effects to the sale of all shares of Class A Common Stock sold by WH&W, pursuant to the Over-Allotment Option.

(3) The number of shares of Class A Common Stock beneficially owned by T1 Investment, prior to the Offering, includes the following, which are convertible within 60 days after January 20, 2023, (i) up to 444,050 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to T1 Investment in the event it voluntarily converts its shares of Series B Preferred Stock; and (ii) up to 619,133 shares of common stock (which are to be reclassified as shares of Class A Common Stock) issuable to T1 Investment, upon the conversion of certain convertible note(s), all of which are convertible within 60 days after January 20, 2023.

The number of shares of common stock (Class A Common Stock and Class B Common Stock, in the aggregate) to be beneficially owned by T1 Investment, after the Offering, includes (i) 444,050 shares of Class A Common Stock which will be issued to T1 Investment, upon the automatic conversion of its shares of Series B Preferred Stock, on or around the closing of the Offering; (ii) 191,931 shares of Class A Common Stock which will be issued to T1 Investment, upon the conversion of certain convertible note(s), on or around the closing of the Offering (iii) 427,202 shares of Class B Common Stock which will be issued to T1 Investment, upon the conversion of certain convertible note(s), on or around the closing of the Offering. The number of shares of Class A Common Stock to be beneficially owned by WH&W, after the Offering, gives effect to the sale of all shares of Class A Common Stock sold by T1 Investment, pursuant to the Over-Allotment Option.

[**Table of Contents**](#TOC001)

#### DESCRIPTION OF SECURITIES

#### General
The following is a summary of the rights of our common stock and preferred stock and some of the provisions of our second amended and restated certificate of incorporation and amended and restated bylaws, which will each become effective immediately prior to the completion of this Offering, and relevant provisions of Delaware General Corporation Law. The descriptions herein are qualified in their entirety by our second amended and restated certificate of incorporation, amended and restated bylaws, copies of which have been filed as exhibits to the registration statement of which this prospectus is a part, as well as the relevant provisions of Delaware General Corporation Law.

Prior to the completion of this Offering, we will (i) file our amended and restated certificate of incorporation reclassifying the common stock into Class A Common Stock and Class B Common Stock, adding the right to the payment of the Series B Dividend and lowering the minimum amount required to be raised in this Offering to $10 million in order to trigger the mandatory conversion of the shares of Series A Preferred Stock to shares of Class B Common Stock and the automatic conversion of the shares of Series B Preferred Stock to shares of Class A Common Stock; (ii) file an amendment to our amended and restated certificate of incorporation with respect to the Split and a change in the number of shares of Class A Common Stock and Class B Common Stock that we are authorized to issue to 150,000,000 shares of Class A Common Stock and 10,000,000 shares of Class B Common Stock, prior to the issuance of any of the shares of Class B Common Stock, as discussed elsewhere in this prospectus; and (iii) file our second amended and restated certificate of incorporation, immediately prior to closing of this Offering, providing for the mandatory conversion of (a) all outstanding shares of our Series A Preferred Stock into shares of Class B Common Stock; (b) all outstanding shares of our Series B Preferred Stock into shares of Class A Common Stock, and also removing the designations of our Series A Preferred Stock and Series B Preferred Stock and replacing with the authorization of 10,000,000 shares of blank check preferred stock, as discussed elsewhere in this prospectus, and such other terms as shall be applicable after the completion of this Offering.

Our second amended and restated certificate of incorporation provides for two classes of common stock: Class A Common Stock and Class B Common Stock. Upon completion of this Offering, our second amended and restated certificate of incorporation will authorize shares of undesignated preferred stock, the rights, preferences and privileges of which may be designated from time to time by our board of directors.

Upon the completion of this Offering, our authorized capital stock will consist of the following shares, all with a par value of $0.001 per share, of which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 150,000,000 shares are designated as Class A Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 10,000,000 shares are designated as Class B Common Stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 10,000,000 shares are designated as preferred stock.

As of January 1, 2023, we had 845,175 shares of common stock (all of which will be classified as shares of Class A Common Stock upon the filing of our amended and restated certificate of incorporation and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part) and 103,345 shares of preferred stock outstanding, comprised of 64,490 shares of Series A Preferred Stock and 38,855 shares of Series B Preferred Stock. Upon the completion of this Offering, including all of the events described in the immediately following paragraph and taking into account all of the assumptions described in this prospectus, there will be 1,612,250 shares of Class A Common Stock and 1,617,650 shares of Class B Common Stock outstanding.

Shares of Class A Common Stock and Class B Common Stock outstanding after the Offering, assume: (i) the payment of the Series B Dividend, pursuant to the issuance of an aggregate of 322,161 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January 1, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus) (ii) the conversion, upon the completion of this Offering, of an aggregate of $3,357,730 in principal amount of certain convertible notes, plus $469,122 of accrued and unpaid interest thereon, as of January 1, 2023, into

[**Table of Contents**](#TOC001)

1,007,504 shares of Class A Common Stock, plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $879 per day; (iii) the conversion, upon the completion of this Offering, of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock); (iv) the conversion, upon the completion of this Offering, of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted); (v) the conversion, upon the completion of this Offering, of an aggregate of $1,700,000 in original principal amount and accrued interest under the Decathlon Note, which was not previously convertible into 338,308 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (vi) the conversion, upon the completion of this Offering, of an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (vii) the conversion, upon the completion of this Offering, of an aggregate of $564,000 in original principal amount and accrued interest under the Side Letter, which was not previously convertible, into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (viii) the conversion, upon the completion of this Offering, of an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible into 39,808 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (ix) the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and the Co-Founder, which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (x) the exercise, upon the completion of this Offering, of warrants for an aggregate of 137,400 shares of Class A Common Stock, at an exercise price of $0.004 per share, by Christopher McKee, WH&W and Decathlon; and (xi) the occurrence of the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part; and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2,457,638 shares of Class A Common Stock into which shares of Class B Common Stock are convertible, at any time, at a conversion rate of one share of Class A Common Stock for each share of Class B Common Stock converted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,225 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.0004 per share;

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 49,035 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $5.025 per share (assuming an initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus) and giving effect to the termination of warrants which would have been exercisable for 456,567 shares of Class A Common Stock, with a weighted average exercise price of $5.025, if such warrants had not been cancelled prior to the consummation of this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 736,375shares of our Class A Common Stock issuable upon the exercise of options to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.96 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 800,000 shares of our Class A Common Stock reserved for future issuance under our 2023 Plan, which will become effective in connection with this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,203,884 shares of our Class A Common Stock issuable upon the exercise of the Investor Warrants to be issued upon consummation of this Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 160,194 shares of our Class A Common Stock issuable upon the exercise of the Representative's Warrants to be issued upon consummation of this Offering which are exercisable for up to 5% of the aggregate number of shares of Class A Common Stock sold in this Offering, excluding any Representative's Warrants sold pursuant to the exercise of the Over-Allotment Option.

The number of authorized shares of Preferred Stock, Class A Common Stock or Class B Common Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of all of the outstanding shares of our capital stock entitled to vote thereon, without a separate vote of the holders of the Preferred Stock, or of any series thereof, Class A Common Stock or Class B Common Stock, unless a vote of any such holders is required pursuant to the terms of any certificate of designation filed with respect to any series of Preferred Stock.

#### Class A and Class B Common Stock
All issued and outstanding shares of our Class A Common Stock and Class B Common Stock will be duly authorized, validly issued, fully paid and non-assessable. All authorized but unissued shares of our Class A Common Stock and Class B Common Stock will be available for issuance by our board of directors without any further stockholder action, except as required by the Nasdaq Listing Rules or otherwise required under the Delaware General Corporation Law. Our second amended and restated certificate of incorporation will provide that, except with respect to voting rights and conversion rights, the Class A Common Stock and Class B Common Stock are treated equally and identically.

#### Voting Rights
Holders of Class A Common Stock will be entitled to one vote per share on all matters to be voted upon by the stockholders, and holders of Class B Common Stock will be entitled to 10 votes per share on all matters to be voted upon by the stockholders. The holders of our Class A Common Stock and Class B Common Stock will generally vote together as a single class on all matters submitted to a vote of our stockholders, unless otherwise required by Delaware law or our second amended and restated certificate of incorporation.

Our second amended and restated certificate of incorporation that will be in effect immediately prior to the completion of this Offering will not provide for cumulative voting for the election of directors.

#### Dividend Rights
Holders of Class A Common Stock and Class B Common Stock will be entitled to ratably receive dividends if, as and when declared from time to time by our board of directors at its own discretion out of funds legally available for that purpose, after payment of dividends required to be paid on outstanding preferred stock, if any. Under Delaware law, we can only pay dividends either out of "surplus" or out of the current or the immediately preceding year's net profits. Surplus is defined as the excess, if any, at any given time, of the total assets of a corporation over its total liabilities and statutory capital. The value of a corporation's assets can be measured in a number of ways and may not necessarily equal their book value.

[**Table of Contents**](#TOC001)

#### Right to Receive Liquidation Distributions
Upon our dissolution, liquidation or winding-up, the assets legally available for distribution to our stockholders are distributable ratably among the holders of our Class A Common Stock and Class B Common Stock, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights and payment of liquidation preferences, if any, on any outstanding shares of preferred stock.

#### Conversion
Each share of our Class B Common Stock is convertible at any time at the option of the holder into one share of our Class A Common Stock. In addition, each share of our Class B Common Stock will convert automatically into one share of our Class A Common Stock upon any transfer, whether or not for value, except certain transfers to entities, to the extent the transferor retains sole dispositive power and exclusive voting control with respect to the shares of Class B Common Stock, and certain other transfers described in our second amended and restated certificate of incorporation. All outstanding shares of our Class B Common Stock will convert into shares of our Class A Common Stock upon the earlier of (i) the date that is six months after the date that the co-founders of T1V, Michael Feldman, our CEO and James Morris, our Chief Technology Officer (collectively, the "Co-Founders"), both no longer serve as an officer, director or are employed by T1V; (ii) the date that is six months after the death of the last to die of the Co-Founders; and (iii) the date specified by the holders of a majority of the then outstanding shares of Class B Common Stock, voting as a separate class.

#### Other Matters
The Class A Common Stock and Class B Common Stock will have no preemptive rights pursuant to the terms of our second amended and restated certificate of incorporation and our amended and restated bylaws. There will be no redemption or sinking fund provisions applicable to the Class A Common Stock and Class B Common Stock. All outstanding shares of our Class A Common Stock will be fully paid and non-assessable.

#### Preferred Stock
As of August 1, 2022, there were 103,345 shares of preferred stock outstanding, 64,490 of which are designated as Series A Preferred Stock (in five separate series — A-1, A-2, A-3, A-4 and A-5) and 38,855 of which are designated as Series B Preferred Stock. Upon the completion of this Offering, all of the outstanding shares of Series A Preferred Stock will convert into 1,162,250 shares of Class B Common Stock, all of the outstanding shares of Series B Preferred Stock will convert into 1,617,650 shares of Class A Common Stock and there will no longer be any shares of preferred stock outstanding. The shares of Series A Preferred Stock only convert to Class B Common Stock, upon the closing of an initial public offering, such as the Offering. Such shares of Class A Common Stock is converted voluntarily by holders convert into Class A Common Stock, instead.

Our board of directors has authorized and the approved, subject to the approval of our stockholders, an amendment to our certificate of incorporation by filing an amended and restated certificate of incorporation, as further described elsewhere in this prospectus. Among other amendments provided for therein, the holders of our Series B Preferred Stock (who include, among others, each member of our current board of directors) will be entitled to receive the Series B Dividend. The Series B Dividend will be payable to the holders of the Series B Preferred Stock by issuing to them an aggregate of 322,161 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January 1, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus). The Series B Dividend will be paid to the holders of our Series B Preferred Stock at the time of their conversion to shares of Class A Common Stock. All of the members of our board of directors will be entitled to receive a portion of the Series B Dividend, since they all own shares of our Series B Preferred Stock.

Upon the completion of this Offering, our board of directors may, without further action by our stockholders, fix the rights, preferences, privileges and restrictions of up to an aggregate of shares of preferred stock in one or more series and authorize their issuance. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of our common stock.

[**Table of Contents**](#TOC001)

The issuance of our preferred stock could adversely affect the voting power of holders of our common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change of control or other corporate action. Upon the completion of this Offering, no shares of preferred stock will be outstanding, and we have no present plan to issue any shares of preferred stock.

#### Units
Each unit being offered in this Offering consists of one share of Class A Common Stock and an Investor Warrant to purchase one share of Class A Common Stock. The share of Class A Common Stock and Investor Warrant that are part of the units are immediately separable and will be issued separately in this Offering, although they will have been purchased together in this Offering.

#### Investor Warrants Issued in this Offering
***Form***. The Investor Warrants will be issued under a warrant agent agreement between us and Vstock Transfer, LLC, as warrant agent. The material terms and provisions of the Investor Warrants offered hereby are summarized below. The following description is subject to, and qualified in its entirety by, the form of warrant agent agreement and accompanying form of Investor Warrant, which is filed as an exhibit to the registration statement of which this prospectus is a part. You should review a copy of the form of warrant agent agreement and accompanying form of Investor Warrant for a complete description of the terms and conditions applicable to the warrants.

***Exercisability***. The Investor Warrants are exercisable immediately upon issuance and will thereafter remain exercisable at any time up to five (5) years from the date of original issuance. The Investor Warrants will be exercisable, at the option of each holder, in whole or in part by delivering to us a duly executed exercise notice accompanied by payment in full for the number of shares of Class A Common Stock purchased upon such exercise (except in the case of a cashless exercise as discussed below).

***Exercise Price***. Each warrant represents the right to purchase one share of Class A Common Stock at an exercise price of $[•] per share (equal to 110% of the initial public offering price), assuming an initial public offering price of $5.15 per unit (which is the midpoint of the estimated range of the initial public offering price set forth on the cover page of this prospectus). The exercise price is subject to appropriate adjustment in the event of certain share dividends and distributions, stock splits, stock combinations, reclassifications or similar events affecting our shares of Class A Common Stock and also upon any distributions of assets, including cash, stock or other property to our stockholders. The warrant exercise price is also subject to anti-dilution adjustments under certain circumstances.

***Cashless Exercise***. If, at any time during the term of the Investor Warrants, the issuance of shares of Class A Common Stock upon exercise of the Investor Warrants is not covered by an effective registration statement, the holder is permitted to effect a cashless exercise of the Investor Warrants (in whole or in part) by having the holder deliver to us a duly executed exercise notice, canceling a portion of the Investor Warrant in payment of the purchase price payable in respect of the number of shares of Class A Common Stock purchased upon such exercise.

***Cessation of Book***-Entry ***Settlement***. If the depositary for the Investor Warrants subsequently ceases to make its book-entry settlement system available for the Investor Warrants, we may instruct the warrant agent regarding other arrangements for book-entry settlement. In the event that the Investor Warrants are not eligible for, or it is no longer necessary to have the Investor Warrants available in, book-entry form, the warrant agent shall provide written instructions to the Depositary to deliver to the warrant agent for cancellation each global warrant, and we shall instruct the warrant agent to deliver to each holder a warrant certificate.

***Failure to Timely Deliver Shares***. If we fail for any reason to deliver to the holder the shares of Class A Common Stock subject to an exercise by the date that is the earlier of (i) two trading days and (ii) the number of trading days that is the standard settlement period on our primary trading market as in effect on the date of delivery of the exercise notice, we must pay to the holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of shares subject to such exercise (based on the daily volume weighted average price of our shares of common stock on the date of the applicable exercise notice), $10 per trading day (increasing to $20 per trading day on the fifth trading day after such liquidated damages begin to accrue) for each trading day after such date until such shares are delivered or the holder rescinds such exercise.

[**Table of Contents**](#TOC001)

***Exercise Limitation***. A holder will not have the right to exercise any portion of an Investor Warrant if the holder (together with its affiliates) would beneficially own in excess of 4.99% of the number of shares of common stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Investor Warrants. However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99%, provided that any increase in such percentage shall not be effective until 61 days following notice from the holder to us.

***Exchange Listing***. We have filed an application for the listing of the Investor Warrants offered in this Offering on the Nasdaq Capital Market under the symbol "THNKW."

***Rights as a Stockholder***. Except as otherwise provided in the Investor Warrants or by virtue of such holder's ownership of our shares of Class A Common Stock, the holder of an Investor Warrant does not have the rights or privileges of a holder of our shares of Class A Common Stock, including any voting rights, until the holder exercises the Investor Warrant.

#### Representative's Warrants
Upon the closing of this Offering, there will be up to 160,194 shares of Class A Common Stock issuable upon exercise of the Representative's Warrants, assuming an initial public offering price of $5.15 per unit (which is the midpoint of the range of the initial public offering price set forth on the cover page of this prospectus). See "*Underwriting — Representative's Warrants*" below for a description of the Representative's Warrants.

#### Options
As of January 1, 2023, we had outstanding options under our equity compensation plans to purchase an aggregate of 736,375 shares of our Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock), with a weighted-average exercise price of $0.96 per share and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholder sand which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part.

#### Registration Rights
Generally, in an underwritten offering, the managing underwriter, if any, has the right, subject to specified conditions, to limit the number of shares such holders may include. The following describes registration rights granted prior to this Offering, with respect to our shares of Class A Common Stock.

#### Demand Registration Rights
The holders of an aggregate of 1,939,811 shares of our Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock and the conversion of the Series B Preferred Stock to Class A Common Stock and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the

[**Table of Contents**](#TOC001)

effectiveness of the registration statement of which this prospectus forms a part) will be entitled to certain demand registration rights. At any time beginning one year after the completion of this Offering, the holders of at least 30% of these shares may request that we register all or a portion of their shares. At any time when the Company is eligible to use a Registration Statement on Form S-3, the holders of at least 20% of these shares may request that we register all or a portion of their shares. We are obligated to effect only two such registrations in any twelve-month period. Such request for registration must cover shares with an anticipated aggregate offering price of at least $2 million.

#### Piggyback Registration Rights
In connection with this Offering, the holders of an aggregate of 1,939,811 shares of our Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock and the conversion of the Series B Preferred Stock to Class A Common Stock and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part) were entitled to, and the necessary percentage of holders waived, their rights to notice of this Offering and to include their shares of registrable securities in this Offering. After this Offering, in the event that we propose to register any of our securities under the Securities Act for sale to the public, the holders of these shares will be entitled to certain piggyback registration rights allowing the holder to include their shares in such registration, subject to certain marketing and other limitations. As a result, whenever we propose to file a registration statement under the Securities Act, other than with respect to (i) registration statements on Form S-8 relating solely to employee benefit plans or (ii) registration statements on Form S-4 relating to a corporate reorganization or other Rule 145 transactions, the holders of these shares are entitled to notice of the registration and have the right to include their shares in the registration, subject to limitations that the underwriters may impose on the number of shares included in this Offering.

#### Certain Older Notes
In 2013, 2014 and 2015, we entered into a total of 14 notes payable with nine related and unrelated third parties at an interest rate of 12% per annum. The aggregate principal amount of such notes was $142,804, and accrued interest on such notes as of September 30, 2022 was $136,201. For the year ended December 31, 2021, principal of $20,907.94, and interest in the amount of $26,403.50 was paid on these notes. For the nine months ended September 30, 2022, principal in the amount of $5,628.84, and interest in the amount of $3,768.57 was paid on these notes.

We currently intend to amend and restate certain of these notes payable prior to the consummation of this Offering in order to make them convertible into shares of our Class A Common Stock upon consummation of this Offering, at the public offering price of the Class A Common Stock in this Offering.

#### Anti-Takeover Effects of Delaware Law and Our Certificate of Incorporation and Bylaws
Some provisions of Delaware law, our second amended and restated certificate of incorporation and our amended and restated bylaws contain or will contain provisions that could make the following transactions more difficult: an acquisition of us by means of a tender offer; an acquisition of us by means of a proxy contest or otherwise; or the removal of our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish or could deter transactions that stockholders may otherwise consider to be in their best interest or in our best interests, including transactions which provide for payment of a premium over the market price for our shares.

These provisions, summarized below, are intended to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors. We believe that the benefits of the increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms.

#### Dual Class Stock
As described above in "— Class A and Class B Common Stock — Voting Rights," our second amended and restated certificate of incorporation provides for a dual class common stock structure, which provides our founders, current investors, executives and employees with significant influence over all matters requiring stockholder approval, including the election of directors and significant corporate transactions, such as a merger or other sale of our Company or our assets.

[**Table of Contents**](#TOC001)

#### Stockholder Meetings
Our amended and restated bylaws will provide that a special meeting of stockholders may be called only by our Chairman of the Board, Chief Executive Officer or President, or by a resolution adopted by a majority of our board of directors.

#### Requirements for Advance Notification of Stockholder Nominations and Proposals
Our amended and restated bylaws will establish advance notice procedures with respect to stockholder proposals to be brought before a stockholder meeting and the nomination of candidates for election as directors, other than nominations made by or at the direction of the board of directors or a committee of the board of directors.

#### Stockholders Not Entitled to Cumulative Voting
Our second amended and restated certificate of incorporation will not permit stockholders to cumulate their votes in the election of directors. Accordingly, the holders of a plurality of the outstanding shares of our common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they choose.

#### Choice of Forum
Our second amended and restated certificate of incorporation will provide that, unless we consent in writing to the selection of an alternative form, the Court of Chancery of the State of Delaware (or, if and only if the Court of Chancery of the State of Delaware lacks subject matter jurisdiction, any state court located within the State of Delaware or, if and only if all such state courts lack subject matter jurisdiction, the federal district court for the District of Delaware) and any appellate court therefrom will be the sole and exclusive forum will be the sole and exclusive forum for: (i) any derivative action or proceeding brought on our behalf; (ii) any action asserting a claim of breach of a fiduciary duty or other wrongdoing by any of our directors, officers, other employees to us or our stockholders; (iii) any action asserting a claim against us arising pursuant to any provision of the Delaware General Corporation Law or our second amended and restated certificate of incorporation or amended and restated bylaws (as each may be amended from time to time); (iv) any action to interpret, apply, enforce or determine the validity of our second amended and restated certificate of incorporation or amended and restated bylaws (as each may be amended from time to time, including any right, obligation or remedy thereunder); or (v) any claim or cause of action against us or any of our current or former directors, officers or employees governed by the internal affairs doctrine, in all cases to the fullest extent permitted by law and subject to the court having personal jurisdiction over the indispensable parties named as defendants. Our second amended and restated certificate of incorporation will also provide that any person or entity purchasing or otherwise acquiring any interest in our securities will be deemed to have notice of and to have consented to this choice of forum provision. It is possible that a court of law could rule that this choice of forum provision to be contained in our second amended and restated certificate of incorporation is inapplicable or unenforceable if it is challenged in a proceeding or otherwise.

The provisions of Delaware law, our second amended and restated certificate of incorporation and our amended and restated bylaws could have the effect of discouraging others from attempting hostile takeovers, and as a consequence, they may also inhibit temporary fluctuations in the market price of our Class A Common Stock that often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes in the composition of our board and management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests.

[**Table of Contents**](#TOC001)

**Transfer Agent, Warrant Agent and Registrar**

The transfer agent, warrant agent and registrar for our Class A Common Stock, Class B Common Stock and our warrants will be Vstock Transfer LLC.

#### Exchange Listing
Neither Class A Common Stock nor our Investor Warrants are currently listed on any securities exchange. We have applied to list our Class A Common Stock and our Investor Warrants on the Nasdaq Capital Market under the symbols "THNK" and THNKW," respectively. There is no assurance that our Class A Common Stock or our Investor Warrants will be accepted for listing on the Nasdaq Capital Market and in the event that our Class A Common Stock or our Investor Warrants are not accepted by Nasdaq for listing on the Nasdaq Capital Market, this Offering will not be consummated.

[**Table of Contents**](#TOC001)

#### SHARES ELIGIBLE FOR FUTURE SALE
Prior to this Offering, there has been no public market for our Class A Common Stock. Future sales of substantial amounts of Class A Common Stock in the public market, or the perception that such sales may occur, could adversely affect the market price of our Class A Common Stock. Although we intend to apply to have our Class A Common Stock listed on the Nasdaq Capital Market, we cannot assure you that there will be an active public market for our Class A Common Stock.

Following the completion of this Offering and considering the assumptions set forth below, we will have outstanding an aggregate of 8,178,793 shares of Class A Common Stock and 2,457,638 shares of Class B Common Stock.

The number of shares of our Class A Common Stock and Class B Common Stock that will be outstanding after this Offering is based on 736,375 shares of our common stock outstanding on January 1, 2023, which will be reclassified as Class A Common Stock, and assumes: (i) the conversion, immediately prior to the completion of this Offering, of all outstanding shares of the Company's Series A Preferred Stock into 1,612,250 shares of Class B Common Stock; (ii) the conversion, immediately prior to the completion of this Offering, of all outstanding shares of the Company's Series B Preferred Stock into 1,617,650 shares of Class A Common Stock; (iii) the payment of the Series B Dividend, pursuant to the issuance of an aggregate of 322,161 shares of Class A Common Stock, which is equal to an aggregate dividend amount of $1,618,859, as of January 1, 2023, and, in addition, the issuance of additional shares of Class A Common Stock, based on an additional dividend accrual of $536 per day through the closing of this Offering, divided by $5.025 (the value of each share of Class A Common Stock included in the units, assuming an initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus) (iv) the conversion, upon the completion of this Offering, of an aggregate of $3,357,730 in principal amount of certain convertible notes, plus $469,122of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock, plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $879 per day; (v) the conversion, upon the completion of this Offering, of an aggregate of $600,000 in principal amount of certain convertible notes held by T1 Investment, plus $651,156 of accrued and unpaid interest thereon, as of January 1, 2023, into 191,363 shares of Class A Common Stock (31% of the aggregate principal amount and accrued interest converted) and 425,937 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted) plus such additional shares of Class A Common Stock and Class B Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $197 per day (31% of which will be converted into Class A Common Stock and 69% of which will be converted into Class B Common Stock); (vi) the conversion, upon the completion of this Offering, of an aggregate of $800,000 in original principal amount of certain convertible notes held by WH&W, plus $432,099 of accrued and unpaid interest thereon (accrued interest through October 11, 2018) into 188,449 shares of Class A Common Stock (31% of the aggregate original principal amount and such accrued interest converted) and 419,451 shares of Class B Common Stock (69% of the aggregate principal amount and accrued interest converted); (vii) the conversion, upon the completion of this Offering, of an aggregate of $1,700,000 in original principal amount and accrued interest under the Decathlon Note, which was not previously convertible into 338,308 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit;(viii) the conversion, upon the completion of this Offering, of an aggregate of $564,000 in original principal amount and accrued interest under the Side Letter, which was not previously convertible, into 112,239 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (ix) the conversion, upon the completion of this Offering, of an aggregate of $461,587 in original principal amount of notes payable to Michael Feldman, the Company's Chief Executive Officer, plus $305,201 of accrued and unpaid interest thereon (through January 1, 2023), into 152,595 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (x) the conversion, upon the completion of this Offering, of an aggregate of $200,000 in original principal amount and accrued interest of certain promissory notes held by Ross Annable, an affiliate of the Company, which promissory notes were not previously convertible into 39,808 shares of Class A Common Stock (assuming a conversion price

[**Table of Contents**](#TOC001)

of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xi) the conversion, upon the completion of this Offering, of an aggregate of $57,638 in original principal amount of certain promissory notes held by Elizabeth Goode, certain other noteholders, and the Co-Founder, which promissory notes were not previously convertible, plus $54,241 of accrued and unpaid interest thereon (accrued interest through January 1, 2023) into 22,264 shares of Class A Common Stock (assuming a conversion price of $5.025, which is the value per share of the Class A Common Stock, included in the units, based on the assumed initial public offering price of $5.15 per unit, the midpoint of the range set forth on the cover page of this prospectus), plus such additional shares of Class A Common Stock issuable upon the conversion of additional accrued interest through the date of conversion at $19 per day, and which conversion price is subject to reduction in the event that the initial public offering price per unit is lower than $5.15 per unit; (xii) the exercise, upon the completion of this Offering, of warrants for an aggregate of 137,400 shares of Class A Common Stock, at an exercise price of $0.004 per share, by Christopher McKee, WH&W and Decathlon; and (xiii) the occurrence of the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part; and excludes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2,457,638 shares of Class A Common Stock into which shares of Class B Common Stock are convertible, at any time, at a conversion rate of one share of Class A Common Stock for each share of Class B Common Stock converted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1,225 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.0004 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 49,035 shares of Class A Common Stock issuable upon the exercise of warrants to purchase shares of our Class A Common Stock, with a weighted average exercise price of $5.025 per share (assuming an initial public offering price of $5.15 per unit, the midpoint of the price range set forth on the cover page of this prospectus) and giving effect to the termination of warrants which would have been exercisable for 456,567 shares of Class A Common Stock, with a weighted average exercise price of $5.025, if such warrants had not been cancelled prior to the consummation of this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 736,375 shares of our Class A Common Stock issuable upon the exercise of options to purchase shares of our Class A Common Stock, with a weighted average exercise price of $0.96 per share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 800,000 shares of our Class A Common Stock reserved for future issuance under our 2023 Plan, which will become effective in connection with this Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 3,203,884 shares of our Class A Common Stock issuable upon the exercise of the Investor Warrants to be issued upon consummation of this Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 160,194 shares of our Class A Common Stock issuable upon the exercise of the Representative's Warrants to be issued upon consummation of this Offering which are exercisable for up to 5% of the aggregate number of shares of Class A Common Stock sold in this Offering, excluding any Representative's Warrants sold pursuant to the exercise of the Over-Allotment Option.

Of these shares, all shares of Class A Common Stock sold in this Offering will be freely tradable without restriction or further registration under the Securities Act, except for any shares of Class A Common Stock purchased by our "affiliates," as that term is defined in Rule 144 under the Securities Act. Shares purchased by our affiliates would be subject to the Rule 144 resale restrictions described below, other than the holding period requirement.

The shares of Class B Common Stock outstanding after this Offering will be "restricted securities," as that term is defined in Rule 144 under the Securities Act. These restricted securities are eligible for public sale only if they are registered under the Securities Act or if they qualify for an exemption from registration under Rules 144 or 701 under the Securities Act, each of which is summarized below. All of these shares will be subject to a 180-day lock-up period under the lock-up agreements and market standoff agreements described below.

In addition, of the 736,375 shares of our Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part) that were

[**Table of Contents**](#TOC001)

subject to stock options outstanding as of January 1, 2023, of which options to purchase 740,350 shares of Class A Common Stock (giving effect to the reclassification of our shares of common stock to Class A Common Stock and giving effect to the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part) were vested as of such date, upon exercise, these shares will be eligible for sale subject to the lock-up agreements described below and Rules 144 and 701 under the Securities Act.

#### Lock-Up Agreements and Market Standoff Provisions
We, along with our directors, executive officers and stockholders beneficially owning 5% or more of our Class A Common Stock (excluding the shares of Class A Common Stock that may be sold by the Selling Stockholders to the underwriters pursuant to the underwriters' exercise of their over-allotment option for shares of Class A Common Stock), have agreed with the underwriters that for a period of 180 days after the closing date of this Offering, subject to specified exceptions as detailed further in "Underwriting" below, we or they will not 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 for the sale of, or otherwise dispose of or transfer any shares of Class A Common Stock and Class B Common Stock or any securities convertible into or exercisable or exchangeable for shares of Class A Common Stock and Class B Common Stock, request or demand that we file a registration statement related to our common stock or enter into any swap or other agreement that transfers to another, in whole or in part, directly or indirectly, the economic consequence of ownership of the common stock. All of our stockholders are subject to a market stand-off agreement with us that imposes similar restrictions.

Upon expiration of the lock-up period, certain of our stockholders will have the right to require us to register their shares under the Securities Act. See "— Registration Rights" below and "Description of Securities — Registration Rights."

Upon the expiration of the lock-up period, substantially all of the shares subject to such lock-up restrictions will become eligible for sale, subject to the limitations discussed below.

#### Affiliate Resales of Restricted Securities
In general, beginning 90 days after the effective date of the registration statement of which this prospectus is a part, a person who is an affiliate of ours, or who was an affiliate at any time during the 90 days before a sale, and who has beneficially owned shares of our capital stock for at least six months would be entitled to sell in "broker's transactions" or certain "riskless principal transactions" or to market makers, a number of shares within any three-month period that does not exceed the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1% of the number of shares of our Class A Common Stock then outstanding, which will equal approximately 81,492 shares immediately after this Offering; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the average weekly trading volume in our Class A Common Stock on during the four calendar weeks preceding the filing of a notice on Form 144 with respect to such sale.

Affiliate resales under Rule 144 are also subject to the availability of current public information about us. In addition, if the number of shares being sold under Rule 144 by an affiliate during any three-month period exceeds 5,000 shares or has an aggregate sale price in excess of $50,000, the seller must file a notice on Form 144 with the Securities and Exchange Commission and concurrently with either the placing of a sale order with the broker or the execution of a sale directly with a market maker.

#### Non-Affiliate Resales of Restricted Securities
In general, 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 of sale, and has not been an affiliate at any time during the 90 days preceding a sale, and who has beneficially owned shares of our capital stock for at least six months but less than a year, is entitled to sell such shares subject only to the availability of current public information about us. If such person has held our shares for at least one year, such person can resell under Rule 144(b)(1) without regard to any Rule 144 restrictions, including the 90-day public company requirement and the current public information requirement.

Non-affiliate resales are not subject to the manner of sale, volume limitation or notice filing provisions of Rule 144.

[**Table of Contents**](#TOC001)

#### Rule 701
In general, under Rule 701, any of our employees, directors, officers, consultants or advisors who purchases shares from us in connection with a compensatory stock or option plan or other written agreement before the effective date of a registration statement under the Securities Act is entitled to sell such shares 90 days after such effective date in reliance on Rule 144. Securities issued in reliance on Rule 701 are restricted securities and, subject to the contractual restrictions described above, beginning 90 days after the date of this prospectus, may be sold by persons other than "affiliates," as defined in Rule 144, subject only to the manner of sale provisions of Rule 144 and by "affiliates" under Rule 144 without compliance with its one-year minimum holding period requirement. However, substantially all Rule 701 shares are subject to lock-up agreements as described above and will become eligible for sale upon the expiration of the restrictions set forth in those agreements.

#### Form S-8 Registration Statement
We intend to file one or more registration statements on Form S-8 under the Securities Act to register all shares of Class A Common Stock issued or issuable under the 2014 Plan, 2019 Plan and the 2022 Plan. We expect to file the registration statement covering shares offered pursuant to these stock plans shortly after the date of this prospectus, permitting the resale of such shares by non-affiliates in the public market without restriction under the Securities Act and the sale by affiliates in the public market subject to compliance with the resale provisions of Rule 144.

#### Registration Rights
See "Description of Securities — Registration Rights" beginning on page 118 of this prospectus for more information about outstanding registration rights.

[**Table of Contents**](#TOC001)

#### MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO <br> NON-U .S. HOLDERS OF OUR CLASS A COMMON STOCK AND THE INVESTOR WARRANTS
The following discussion is a summary of the material U.S. federal income tax consequences to non-U.S. holders (as defined below) of the acquisition, ownership and disposition of our Class A Common Stock and the Investor Warrants issued pursuant to this Offering. This discussion is not a complete analysis of all potential U.S. federal income tax consequences relating thereto, does not address the potential application of the Medicare contribution tax on net investment income or the alternative minimum tax, and does not address any estate or gift tax consequences or any tax consequences arising under any state, local or foreign tax laws, or any other U.S. federal tax laws. This discussion is based on the U.S. Internal Revenue Code of 1986, as amended, Treasury Regulations promulgated thereunder, judicial decisions and published rulings and administrative pronouncements of the Internal Revenue Service, all as in effect as of the date of this prospectus. These authorities are subject to differing interpretations and may change, possibly retroactively, resulting in U.S. federal income tax consequences different from those discussed below. We have not requested a ruling from the IRS with respect to the statements made and the conclusions reached in the following summary, and there can be no assurance that the IRS or a court will agree with such statements and conclusions.

This discussion is limited to non-U.S. holders who purchase our Class A Common Stock pursuant to this Offering and who hold our Class A Common Stock and/or the Investor Warrants as a "capital asset" within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address all of the U.S. federal income tax consequences that may be relevant to a particular holder in light of such holder's particular circumstances. This discussion also does not consider any specific facts or circumstances that may be relevant to holders subject to special rules under the U.S. federal income tax laws, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• certain former citizens or long-term residents of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• partnerships or other pass-through entities (and investors therein);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "controlled foreign corporations";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "passive foreign investment companies";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• corporations that accumulate earnings to avoid U.S. federal income tax;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• banks, financial institutions, investment funds, insurance companies, brokers, dealers or traders in securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• tax-exempt organizations and governmental organizations;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons subject to special tax accounting rules under Section 451(b) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons who hold or receive our Class A Common Stock or pursuant to the exercise of any employee stock option or otherwise as compensation;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons that own, or have owned, actually or constructively, more than 5% of our Class A Common Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons who have elected to mark securities to market; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• persons holding our Class A Common Stock as part of a hedging or conversion transaction or straddle, or a constructive sale, or other risk reduction strategy or integrated investment.

If an entity or arrangement that is classified as a partnership for U.S. federal income tax purposes holds our Class A Common Stock and/or Investor Warrants, the U.S. federal income tax treatment of a partner in the partnership will generally depend on the status of the partner and the activities of the partnership. Partnerships holding our Class A Common Stock and/or Investor Warrant and the partners in such partnerships are urged to consult their tax advisors about the particular U.S. federal income tax consequences to them of holding and disposing of our Class A Common Stock and the Investor Warrants.

[**Table of Contents**](#TOC001)

**THIS DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TAX ADVICE. PROSPECTIVE INVESTORS SHOULD CONSULT THEIR TAX ADVISORS REGARDING THE PARTICULAR U.S. FEDERAL INCOME TAX CONSEQUENCES TO THEM OF ACQUIRING, OWNING AND DISPOSING OF OUR CLASS A COMMON STOCK AND THE INVESTOR WARRANTS, AS WELL AS ANY TAX CONSEQUENCES ARISING UNDER ANY STATE, LOCAL OR FOREIGN TAX LAWS AND ANY OTHER U.S. FEDERAL TAX LAWS. IN ADDITION, SIGNIFICANT CHANGES IN U.S. FEDERAL TAX LAWS WERE RECENTLY ENACTED. PROSPECTIVE INVESTORS SHOULD ALSO CONSULT WITH THEIR TAX ADVISORS WITH RESPECT TO SUCH CHANGES IN U.S. TAX LAW AS WELL AS POTENTIAL CONFORMING CHANGES IN STATE TAX LAWS.**

#### Definition of Non-U .S. Holder
For purposes of this discussion, a non-U.S. holder is any beneficial owner of our Class A Common Stock and/or Investor Warrants that is not a "U.S. person" or a partnership (including any entity or arrangement treated as a partnership) for U.S. federal income tax purposes. A U.S. person is any person that, for U.S. federal income tax purposes, is or is treated as any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an individual who is a citizen or resident of the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a corporation (or any entity treated as a corporation for U.S. federal income tax purposes) created or organized under the laws of the United States, any state thereof or the District of Columbia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an estate, the income of which is subject to U.S. federal income tax regardless of its source; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a trust (i) whose administration is subject to the primary supervision of a U.S. court and which has one or more U.S. persons who have the authority to control all substantial decisions of the trust or (ii) that has a valid election in effect under applicable Treasury Regulations to be treated as a U.S. person.

#### Distributions on Our Class A Common Stock
As described under the section titled "Dividend Policy," we have not paid and do not anticipate paying any cash dividends in the foreseeable future. However, if we make cash or other property distributions on our Class A Common Stock, such distributions 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. Amounts that exceed such current and accumulated earnings and profits and, therefore, are not treated as dividends for U.S. federal income tax purposes will constitute a return of capital and will first be applied against and reduce a holder's tax basis in our Class A Common Stock, but not below zero. Any excess amount distributed will be treated as gain realized on the sale or other disposition of our Class A Common Stock and will be treated as described under the section titled "— Gain On Disposition of Our Class A Common Stock" below.

Subject to the discussion below regarding effectively connected income, backup withholding and FATCA (as defined below), dividends paid to a non-U.S. holder of our Class A Common Stock generally will be subject to U.S. federal withholding tax at a rate of 30% of the gross amount of the dividends or such lower rate specified by an applicable income tax treaty. To receive the benefit of a reduced treaty rate, a non-U.S. holder must furnish us or the applicable withholding agent a valid IRS Form W-8BEN or IRS Form W-8BEN-E (or applicable successor form) certifying such holder's qualification for the reduced rate. This certification must be provided to us or the withholding agent before the payment of dividends and must be updated periodically. 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 the withholding agent, either directly or through other intermediaries.

If a non-U.S. holder holds our Class A Common Stock in connection with the conduct of a trade or business in the United States, and dividends paid on our Class A Common Stock are effectively connected with such holder's U.S. trade or business (and are attributable to such holder's permanent establishment or fixed base in the United States if required by an applicable tax treaty), the non-U.S. holder will be exempt from U.S. federal withholding tax. To claim the exemption, the non-U.S. holder must generally furnish a valid IRS Form W-8ECI (or applicable successor form) to the applicable withholding agent.

[**Table of Contents**](#TOC001)

However, any such effectively connected dividends paid on our Class A Common Stock generally will be subject to U.S. federal income tax on a net income basis at the regular U.S. federal income tax rates in the same manner as if such holder were a resident of the United States. A non-U.S. holder that is a foreign corporation also may be subject to an additional branch profits tax equal to 30% (or such lower rate specified by an applicable income tax treaty) of its effectively connected earnings and profits for the taxable year, as adjusted for certain items.

Non-U.S. holders that do not provide the required certification on a timely basis, but that qualify for a reduced treaty rate, may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS.

Non-U.S. holders should consult their tax advisors regarding any applicable income tax treaties that may provide for different rules.

#### Exercise of the Investor Warrants
**Exercise of the Investor Warrants by a Non**-U**.S. Holder will cause the Holder to become a Non**-U**.S. Holder of our Class A Common Stock with an adjusted basis in that stock generally equal to the Non**-U**.S. Holder's adjusted basis in the Investor Warrant plus the amount paid to exercise the Investor Warrant(s). No U.S. income tax or withholding tax is applicable to such exercise.**

#### Gain on Disposition of Our Class A Common Stock or Investor Warrants
Subject to the discussion below regarding backup withholding and FATCA, a non-U.S. holder generally will not be subject to U.S. federal income tax on any gain realized on the sale or other disposition of our Class A Common Stock or Investor Warrants, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the gain is effectively connected with the non-U.S. holder's conduct of a trade or business in the United States and, if required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base maintained by the non-U.S. holder in the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the non-U.S. holder is a nonresident alien individual present in the United States for 183 days or more during the taxable year of the disposition and certain other requirements are met; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our Class A Common Stock or the Investor Warrants constitute a "United States real property interest" by reason of our status as a United States real property holding corporation (USRPHC) for U.S. federal income tax purposes at any time within the shorter of the five-year period preceding the disposition or the non-U.S. holder's holding period for our Class A Common Stock or the Investor Warrants, and our Class A Common Stock or Investor Warrants are not regularly traded on an established securities market during the calendar year in which the sale or other disposition occurs.

Determining whether we are a USRPHC depends on the fair market value of our U.S. real property interests relative to the fair market value of our other trade or business assets and our foreign real property interests. We believe that we are not currently and do not anticipate becoming a USRPHC for U.S. federal income tax purposes, although there can be no assurance we will not in the future become a USRPHC.

Gain described in the first bullet point above generally will be subject to U.S. federal income tax on a net income basis at the regular U.S. federal income tax rates in the same manner as if such holder were a resident of the United States. A non-U.S. holder that is a foreign corporation also may be subject to an additional branch profits tax equal to 30% (or such lower rate specified by an applicable income tax treaty) of its effectively connected earnings and profits for the taxable year, as adjusted for certain items. Gain described in the second bullet point above will be subject to U.S. federal income tax at a flat 30% rate (or such lower rate specified by an applicable income tax treaty), but may be offset by certain U.S.-source capital losses (even though the individual is not considered a resident of the United States), provided that the non-U.S. holder has timely filed U.S. federal income tax returns with respect to such losses. Gain described in the third bullet point above will generally be subject to U.S. federal income tax in the same manner as gain that is effectively connected with the conduct of a U.S. trade or business (subject to any provisions under an applicable income tax treaty), except that the branch profits tax generally will not apply. Non-U.S. holders should consult their tax advisors regarding any applicable income tax treaties that may provide for different rules.

[**Table of Contents**](#TOC001)

#### Information Reporting and Backup Withholding
Annual reports are required to be filed with the IRS and provided to each non-U.S. holder indicating the amount of dividends on our Class A Common Stock paid to such holder and the amount of any tax withheld with respect to those dividends. These information reporting requirements apply even if no withholding was required because the dividends were effectively connected with the holder's conduct of a U.S. trade or business, or withholding was reduced or eliminated by an applicable income tax treaty. This information also may be made available under a specific treaty or agreement with the tax authorities in the country in which the non-U.S. holder resides or is established. Backup withholding, currently at a 24% rate, generally will not apply to payments to a non-U.S. holder of dividends on or the gross proceeds of a disposition of our Class A Common Stock provided the non-U.S. holder furnishes the required certification for its non-U.S. status, such as by providing a valid IRS Form W-8BEN, IRS Form W-8BEN-E or IRS Form W-8ECI (or applicable successor form), or certain other requirements are met. Backup withholding may apply if the payor has actual knowledge, or reason to know, that the holder is a U.S. person who is not an exempt recipient.

Backup withholding is not an additional tax. If any amount is withheld under the backup withholding rules, the non-U.S. holder should consult with a U.S. tax advisor regarding the possibility of and procedure for obtaining a refund or a credit against the non-U.S. holder's U.S. federal income tax liability, if any.

#### Withholding on Foreign Entities
Under Sections 1471 through 1474 of the Code (such Sections commonly referred to as "FATCA"), a 30% U.S. federal withholding tax may apply to any dividends paid on our common stock to (i) a "foreign financial institution" (as specifically defined in the Code) which does not provide sufficient documentation, typically on IRS Form W-8BEN-E, evidencing either (x) an exemption from FATCA, or (y) its compliance (or deemed compliance) with FATCA (which may alternatively be in the form of compliance with an intergovernmental agreement with the United States) in a manner which avoids withholding, or (ii) a "non-financial foreign entity" (as specifically defined in the Code) which does not provide sufficient documentation, typically on IRS Form W-8BEN-E, evidencing either (x) an exemption from FATCA, or (y) adequate information regarding certain substantial U.S. beneficial owners of such entity (if any). If a dividend payment is both subject to withholding under FATCA and subject to the withholding tax discussed above under "— Distributions on Our Class A Common Stock" the withholding under FATCA may be credited against, and therefore reduce, such other withholding tax. While withholding under FATCA would have also applied to payments of gross proceeds from the sale or other disposition of our common stock on or after January 1, 2019, recently proposed Treasury Regulations eliminate such withholding on payments of gross proceeds entirely. Taxpayers generally may rely on these proposed Treasury Regulations until final Treasury Regulations are issued. You should consult your own tax advisors regarding these requirements and whether they may be relevant to your ownership and disposition of our common stock. Prospective investors are encouraged to consult with their own tax advisors regarding the possible implications of FATCA on their investment in our Class A Common Stock.

[**Table of Contents**](#TOC001)

#### UNDERWRITING
We and the Selling Stockholders have entered into an underwriting agreement (the "Underwriting Agreement") with EF Hutton, division of Benchmark Investments, LLC, who is acting as the representative of the underwriters of this Offering. The Underwriting Agreement provides that the obligations of the underwriters are subject to representations, warranties and conditions contained therein. The underwriters agree to purchase, subject to the terms of the Underwriting Agreement, from the Company the number of units listed opposite their names below. Pursuant to the Underwriting Agreement, the underwriters will be committed to purchase and pay for all of the units, other than Class A Common Stock and/or Investor Warrants covered by the over-allotment option described below.

---

| | |
|:---|:---|
|  **Underwriters** | **Number of <br>Shares** |
| &nbsp;&nbsp;&nbsp; EF Hutton, division of Benchmark Investments, LLC |  |
| &nbsp;&nbsp;&nbsp; Total |  |

---

The underwriters have advised us that they propose to offer the units to the public at a price of $[•] per share. The underwriters propose to offer the units to certain dealers at the same price less a concession of not more than $[•] per share.

A copy of the form of underwriting agreement is filed as an exhibit to the registration statement of which this prospectus is a part.

The units sold in this Offering are expected to be ready for delivery on or about [•], 2023, against payment in immediately available funds. The underwriters may reject all or part of any order.

#### Over-Allotment Option
Pursuant to the Underwriting Agreement, the Company and the Selling Stockholders have granted the underwriters an option to purchase up to an additional 480,582 shares of Class A Common Stock, representing 15% of the shares of Class A Common Stock sold in the Offering and/or up to an 480,582 Investor Warrants, representing 15% of the Investor Warrants sold in the Offering, assuming an initial public offering price of $5.15 per unit (which is the midpoint of the range of the initial public offering price set forth on the cover page of this prospectus), in any combination thereof. The underwriters may exercise this option any time during the 45-day period after the closing date of this Offering, but only to cover over-allotments, if any. To the extent the underwriters exercise the Over-Allotment Option, all of the shares of Class A Common Stock purchased upon the exercise of the Over-Allotment Option will be purchased from the Selling Stockholders, on a pro rata basis and any Investor Warrants will be purchased from the Company. The underwriters will become obligated, subject to certain conditions, to purchase the shares of Class A Common Stock and/or Investor Warrants for which they exercise the Over-Allotment Option. The Company will not receive any proceeds from the sale of the shares of Class A Common Stock by the Selling Stockholders to the underwriters pursuant to the Over-Allotment Option. The Company will receive the net proceeds from all sales of Investor Warrants to the underwriters, pursuant to their exercise of the Over-Allotment Option.

---

| | | |
|:---|:---|:---|
|  | **Per Unit** | **Total<sup>(1)</sup>** |
|  Initial public offering price | $| $|
|  Underwriting discount to be paid by us (8%) | $| $|
|  Non-accountable expense allowance (1%) | $| $|
|  Proceeds, before expenses to us | $| $|

---

____________

(1) To the extent the underwriters exercise the Over-Allotment Option for shares of Class A Common Stock, none of the shares will be sold by the Company to the underwriters and will be sold by the Selling Stockholders to the underwriters, on a pro rata basis, less underwriting discounts and commissions. In the event that the underwriters exercise the Over-Allotment Option for any of the Investor Warrants, the Company will receive $0.125 per Investor Warrant sold.

#### Underwriting Discount
We have agreed to pay the underwriters a cash fee equal to eight percent (8%) of the aggregate gross proceeds received by the Company from the securities sold in this Offering.

[**Table of Contents**](#TOC001)

Pursuant to an engagement agreement, dated July 26, 2021 (the "Engagement Agreement"), between the Company and the Representative, we will be also responsible for and will pay all expenses relating to this Offering, including, without limitation, (a) all filing fees and expenses relating to the registration of the securities with the Commission; (b) all fees and expenses relating to the listing of the Company's Class A Common Stock and the Investor Warrants on a national exchange; (c) all fees, expenses and disbursements relating to the registration or qualification of the securities under the "blue sky" securities laws of such states and other jurisdictions as the Representative may reasonably designate (including, without limitation, all filing and registration fees, and the reasonable fees and disbursements of the Company's "blue sky" counsel, which will be the underwriters' counsel) unless such filings are not required in connection with the Company's proposed listing on a national exchange, if applicable; (d) all fees, expenses and disbursements relating to the registration, qualification or exemption of the securities under the securities laws of such foreign jurisdictions as the Representative may reasonably designate; (e) the costs of all mailing and printing of the offering documents; (f) transfer and/or stamp taxes, if any, payable upon the transfer of securities from the Company to the underwriters; (g) the fees and expenses of the Company's accountants; and (h) a maximum of $175,000 for fees and expenses, including "road show," diligence and reasonable legal fees and disbursements for the Representative's counsel. The Company shall be responsible to pay the underwriters' external legal costs irrespective if this Offering is consummated or not, which amount shall not exceed $30,000, including of the $15,000 advance (the "Advance") previously paid by the Company pursuant to the Engagement Agreement. The Advance shall be applied towards out-of-pocket accountable expense set forth herein and any portion of the Advance shall be returned to the Company to the extent not actually incurred. The Representative may deduct from the net proceeds of this Offering payable to the Company on the closing date, or the closing date of the Over-Allotment Option, if any, the expenses set forth herein to be paid by the Company to the Representative. 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(g)(4)(A).

We have also agreed to pay the underwriters a non-accountable expense allowance of $165,000 (equal to 1% of the gross proceeds of this Offering, assuming an initial public offering price of $5.15 per unit, which is the midpoint of the range set forth on the cover page of this prospectus). We estimate that expenses payable by us in connection with this Offering, including reimbursement of the underwriters' out-of-pocket expenses and the non-accountable expense allowance, but excluding the underwriting discount referred to above, will be approximately $410,633.

#### Representative's Warrants
As additional compensation for the Representative's services, we have agreed to issue warrants to the Representative or its designees, upon the closing of this Offering, which entitles it to purchase 5% of the total number of shares of Class A Common Stock sold in this Offering, excluding the Over-Allotment Option. The exercise price of the Representative's Warrants is equal to 110% of the public offering price per share of the shares of Class A Common Stock offered hereby. The Representative's Warrants will be exercisable at any time and from time to time, in whole or in part, during the four and a half-year period commencing six months after the commencement of sales of the Shares in this Offering. The Representative's Warrants and the shares of Class A Common Stock underlying the Representative's Warrants have been deemed compensation by the Financial Industry Regulatory Authority, Inc. (FINRA) and are therefore subject to a 180-day lock-up pursuant to Rule 5110(e)(1) of FINRA. In accordance with FINRA Rule 5110(e)(1), neither the Representative's Warrants nor any shares of our Class A Common Stock issued upon exercise of the Representative's Warrants may be sold, transferred, assigned, pledged, or hypothecated, 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 by any person for a period of 180 days beginning on the date of commencement of sales of the Shares in this Offering, except the transfer of any security:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• by operation of law or by reason of reorganization of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to any FINRA member firm participating in this Offering and the officers or partners thereof, if all securities so transferred remain subject to the lock-up restriction described above for the remainder of the time period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if the aggregate amount of securities of the Company held by either an underwriter or a related person does not exceed 1% of the securities being offered;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• that is beneficially owned on a pro-rata basis by all equity owners of an investment fund, provided that no participating member manages or otherwise directs investments by the fund, and participating members in the aggregate do not own more than 10% of the equity in the fund; or

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the exercise or conversion of any security, if all securities received remain subject to the lock-up restriction set forth above for the remainder of the time period.

The Representative's Warrants may be exercised as to all or a lesser number of shares of Class A Common Stock, and will provide for cashless exercise and customary anti-dilution provisions (adjustment in the number and price of such warrants and the shares underlying such warrants) resulting from corporate events (which would include dividends, reorganizations, mergers, etc.) when the public stockholders have been proportionally affected and otherwise in compliance with FINRA Rule 5110(g)(8)(E). Further, the Representative's Warrants will provide for a one-time demand registration right and unlimited "piggyback" rights at our expense in the event the registration statement of which this prospectus forms a part is no longer effective. The one-time demand registration of the sale of the underlying shares of Class A Common Stock will not be greater than five (5) years after the closing of this Offering in compliance with FINRA Rule 5110(g)(8)(C) and the unlimited "piggyback" registration rights will not be greater than seven (7) years after the closing of this Offering in compliance with FINRA Rule 5110(g)(8)(D).

Other than the underwriting agreement, the underwriters have had no material relationship with us or any of our affiliates and have not owned any of our securities prior to this Offering.

#### Indemnification
Pursuant to the Underwriting Agreement, we also intend to agree to indemnify the underwriters against certain liabilities, including civil liabilities under the Securities Act, or to contribute to payments that the underwriters may be required to make in respect of those liabilities.

#### Offering Information
No action has been taken by us or the underwriters that would permit a public offering of units offered by this prospectus in any jurisdiction where action for that purpose is required. None of units included in this Offering may be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sales of any of the units being offered hereby 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 who receive this prospectus are advised to inform themselves about and to observe any restrictions relating to this Offering of securities and the distribution of this prospectus. This prospectus is neither an offer to sell nor a solicitation of any offer to buy the units in any jurisdiction where that would not be permitted or legal.

The underwriters have advised us that they do not intend to confirm sales to any accounts over which they exercise discretionary authority.

The underwriters may allocate no more than $[•] of the securities issued in this Offering to members of management and their affiliates.

#### Right of First Refusal
We have granted the Representative a right of first refusal, for a period of twelve (12) months from the closing of this Offering, to act as sole investment banker, sole book-runner, and/or sole placement agent, at the Representative's sole discretion, for each and every future public and private equity and debt offering, including all equity linked financings, subject to certain exceptions (each, a "subject transaction"), during such twelve (12) month period, of the Company, or any successor to or subsidiary of the Company, on terms and conditions customary to the Representative for such subject transactions.

#### Tail Rights
In the event that the Representative does not consummate this Offering, the Representative shall be entitled to a cash fee equal to eight percent (8.0%) of the gross proceeds received by the Company from the sale of any securities or debt instruments to any investor actually introduced by the Representative to the Company during the engagement period (the "Tail Financing"), and such Tail Financing is consummated at any time during the engagement period or within the twelve (12) month period following the expiration of the engagement period, provided that such financing is by a party actually introduced to the Company in an offering in which the Company has direct knowledge of such party's participation and not a party that the Company can demonstrate was already known to the Company.

[**Table of Contents**](#TOC001)

#### Lock-Up — No Sales of Securities
The Company, on behalf of itself and any successor entity, will agree in the Underwriting Agreement that, without the prior written consent of the Representative, it will not, for a period of 180 days after the date of the Underwriting Agreement, (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; (ii) file or caused to be filed any registration statement with the SEC relating to this Offering of 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; (iii) complete any offering of debt securities of the Company, other than entering into a line of credit with a traditional bank; or (iv) 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), (ii), (iii) or (iv) above is to be settled by delivery of shares of capital stock of the Company or such other securities, in cash or otherwise.

In addition, each of our directors, officers and stockholders beneficially owning 5% or more of our Class A Common Stock (excluding the shares of Class A Common Stock that may be sold by the Selling Stockholders to the underwriters pursuant to the underwriters' exercise of their over-allotment option for shares of Class A Common Stock), has agreed that for a period of 180 days after the closing date of this offering, without the prior written consent of the Representative, and subject to certain exceptions, they will not, directly or indirectly, (i) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer or dispose of, directly or indirectly, any common stock of the Company or any securities convertible into or exercisable or exchangeable for the common stock of the Company, whether now owned or hereafter acquired by such person or with respect to which such person has or hereafter acquires the power of disposition; (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities; (iii) make any demand for or exercise any right with respect to the registration of any such securities; or (iv) 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 such securities.

#### Price Stabilization, Short Positions and Penalty Bids
To facilitate this Offering, the underwriters may engage in transactions that stabilize, maintain or otherwise affect the price of our securities during and after this Offering. Specifically, the underwriters may over-allot or otherwise create a short position in our securities for their own account by selling more securities than we have sold to the underwriters. The underwriters may close out any short position by either exercising its option to purchase additional securities or purchasing securities in the open market.

In addition, the underwriters may stabilize or maintain the price of our securities by bidding for or purchasing securities in the open market and may impose penalty bids. If penalty bids are imposed, selling concessions allowed to broker-dealers participating in this Offering are reclaimed if securities previously distributed in this Offering are repurchased, whether in connection with stabilization transactions or otherwise. The effect of these transactions may be to stabilize or maintain the market price of our securities at a level above that which might otherwise prevail in the open market. The imposition of a penalty bid may also affect the price of our securities to the extent that it discourages resales of our securities. The magnitude or effect of any stabilization or other transactions is uncertain. These transactions may be effected on the Nasdaq Capital Market or otherwise and, if commenced, may be discontinued at any time.

In connection with this Offering, the underwriters and selling group members, if any, may also engage in passive market making transactions in our securities on the Nasdaq Capital Market. Passive market making consists of displaying bids on the Nasdaq Capital Market by the prices of independent market makers and effecting purchases limited by those prices in response to order flow. Rule 103 of Regulation M promulgated by the SEC limits the amount of net purchases that each passive market maker may make and the displayed size of each bid. Passive market making may stabilize the market price of our securities at a level above that which might otherwise prevail in the open market and, if commenced, may be discontinued at any time.

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 our securities. In addition, neither we nor the underwriters make any representation that the underwriters will engage in these transactions or that any transaction, if commenced, will not be discontinued without notice.

[**Table of Contents**](#TOC001)

#### Affiliations
Each underwriter and its 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 may in the future engage in investment banking and other commercial dealings in the ordinary course of business with us or our affiliates. The underwriters may in the future receive customary fees and commissions for these transactions. We have not engaged the underwriters to perform any services for us in the previous 180 days, nor do we have any agreement to engage the underwriters to perform any services for us in the future, subject to the right to act as an advisor as described above.

In the ordinary course of its various business activities, each underwriter and its 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 its own account and for the accounts of its customers, and such investment and securities activities may involve securities and/or instruments of the issuer. Each underwriter and its respective affiliates may also make investment recommendations and/or publish or express independent research views in respect of such securities or instruments and may at any time hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.

#### Electronic Offer, Sale and Distribution
In connection with this Offering, the underwriters or certain of the securities dealers may distribute prospectuses by electronic means, such as e-mail.

#### Other Relationships
We are not under any contractual obligation to engage the underwriters to provide any services for us after this Offering and have no present intent to do so. However, pursuant to the Engagement Agreement, the Representative has agreed to provide general financial advisory services to the Company such as introducing the Company to investors and assisting the Company in financings or other transactions (the "Advisory Services").

If within twelve (12) months from the effective date of the termination or expiration of the Engagement Agreement either the Company or any party to whom the Company was directly introduced by the Representative, or who was contacted by the Representative on behalf of the Company in connection with its Advisory Services for the Company, proposes a financing or any a transaction with the Company, including, without limitation, a merger, acquisition or sale of stock or assets (in which the Company may be the acquiring or the acquired entity), joint venture, strategic alliance or other similar transaction (any such transaction, an "M&A Transaction"), then, if any such financing or an M&A Transaction is consummated, the Company shall pay fees to the Representative. Under the Engagement Agreement, as consideration for the Advisory Services in connection with a private placement of equity securities, the Company has agreed to pay the Representative a cash fee of eight percent (8%) of the amount of capital raised, invested or committed. For debt placements, the Company has agreed to pay the Representative a cash fee of six percent (6.0%) of the amount of capital raised, invested, or committed; provided, that, the Representative will not be entitled to the six percent (6%) cash fee for any debt placement shall be payable at the time of this Offering or within six (6) months after the closing of this Offering. The M&A Transaction fees shall be payable to the Representative at the closing or closings of the M&A Transaction to which it relates and shall be equal to five percent (5%) of the M&A Transaction consideration received.

*Notice to Prospective Investors in the European Economic Area and the United Kingdom*

In relation to each member state of the European Economic Area and the United Kingdom (each, a "relevant state"), no shares have been offered or will be offered pursuant to this Offering to the public in that relevant state prior to the publication of a prospectus in relation to the shares that has been approved by the competent authority in that relevant state or, where appropriate, approved in another relevant state and notified to the competent authority in that relevant state, all in accordance with the Prospectus Regulation, except that offers of our shares may be made to the public in that relevant state at any time under the following exemptions under the Prospectus Regulation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to any legal entity which is a qualified investor as defined under the Prospectus Regulation;

[**Table of Contents**](#TOC001)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to fewer than 150 natural or legal persons (other than qualified investors as defined under the Prospectus Regulation), subject to obtaining the prior consent of the Representative for any such offer; or;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in any other circumstances falling within Article 1(4) of the Prospectus Regulation;

Provided, that no such offer of shares shall require the issuer or the Representative to publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation.

Each person in a relevant state who initially acquires any shares or to whom any offer is made will be deemed to have represented, acknowledged and agreed to and with the Company and the Representative that it is a qualified investor within the meaning of the Prospectus Regulation.

In the case of any shares being offered to a financial intermediary as that term is used in Article 5(1) of the Prospectus Regulation, each such financial intermediary will be deemed to have represented, acknowledged and agreed that the shares acquired by it in the offer have not been acquired on a non-discretionary basis on behalf of, nor have they been acquired with a view to their offer or resale to, persons in circumstances which may give rise to an offer to the public other than their offer or resale in a relevant state to qualified investors, in circumstances in which the prior consent of the Representative has been obtained to each such proposed offer or resale.

We, the Representative and each of our and the Representative's respective affiliates will rely upon the truth and accuracy of the foregoing representations, acknowledgements and agreements.

For the purposes of this provision, the expression an "offer to the public" in relation to any shares in any relevant state means the communication in any form and by any means of sufficient information on the terms of the offer and any shares to be offered so as to enable an investor to decide to purchase or subscribe for any shares, and the expression "Prospectus Regulation" means Regulation (EU) 2017/1129.

References to the Prospectus Regulation include, in relation to the United Kingdom, the Prospectus Regulation as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

The above selling restriction is in addition to any other selling restrictions set out below.

In connection with this Offering, the Representative is not acting for anyone other than the issuer and will not be responsible to anyone other than the issuer for providing the protections afforded to its clients nor for providing advice in relation to this Offering.

*Notice to Prospective Investors in the United Kingdom*

This prospectus is for distribution only to persons who (i) have professional experience in matters relating to investments and who qualify as investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Financial Promotion Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000, as amended in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons")). This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.

*Notice to Prospective Investors in Hong Kong*

The shares have not been offered or sold and will not be offered or sold in Hong Kong, by means of any document, other than (a) to "professional investors" as defined in the Securities and Futures Ordinance (Cap. 571) of Hong Kong and any rules made under that ordinance; or (b) in other circumstances which do not result in the document being a "prospectus" as defined in the Companies Ordinance (Cap. 32) of Hong Kong or which do not constitute an offer to the public within the meaning of that ordinance. No advertisement, invitation or document relating to the shares has been or may be issued or has been or may be in the possession of any person for the purposes of issue, whether in Hong Kong or elsewhere, which is directed at, or the contents of which are likely to be accessed or read by, the public

[**Table of Contents**](#TOC001)

of Hong Kong (except if permitted to do so under the securities laws of Hong Kong) other than with respect to shares which are or are intended to be disposed of only to persons outside Hong Kong or only to "professional investors" as defined in the Securities and Futures Ordinance and any rules made under that ordinance.

*Notice to Prospective Investors in Japan*

The shares have not been and will not be registered under the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948, as amended) and, accordingly, will not be offered or sold, directly or indirectly, in Japan, or for the benefit of any Japanese Person or to others for re-offering or resale, directly or indirectly, in Japan or to any Japanese Person, except in compliance with all applicable laws, regulations and ministerial guidelines promulgated by relevant Japanese governmental or regulatory authorities in effect at the relevant time. For the purposes of this paragraph, "Japanese Person" shall mean any person resident in Japan, including any corporation or other entity organized under the laws of Japan.

*Notice to Prospective Investors in Canada*

The shares may be sold in Canada only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45-106 Prospectus Exemptions or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations. Any resale of the shares must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.

Pursuant to Section 3A.3 (or, in the case of securities issued or guaranteed by the government of a non-Canadian jurisdiction, section 3A.4) of National Instrument 33-105 Underwriting Conflicts (NI 33-105), the underwriters are not required to comply with the disclosure requirements of NI 33-105 regarding underwriter conflicts of interest in connection with this Offering.

*Notice to Prospective Investors in the Dubai International Financial Centre*

This prospectus relates to an exempt offer in accordance with the Offered Securities Rules of the Dubai Financial Services Authority ("DFSA"). This prospectus is intended for distribution only to persons of a type specified in the Offered Securities Rules of the DFSA. It must not be delivered to, or relied on by, any other person. The DFSA has no responsibility for reviewing or verifying any documents in connection with exempt offers. The DFSA has not approved this prospectus nor taken steps to verify the information set forth herein and has no responsibility for the prospectus. The securities to which this prospectus relates may be illiquid and/or subject to restrictions on their resale.

Prospective purchasers of the securities offered should conduct their own due diligence on the securities. If you do not understand the contents of this prospectus you should consult an authorized financial advisor.

*Notice to Prospective Investors in Israel*

In the State of Israel, this prospectus shall not be regarded as an offer to the public to purchase securities under the Israeli Securities Law, 5728 — 1968, which requires a prospectus to be published and authorized by the Israel Securities Authority, if it complies with certain provisions of Section 15 of the Israeli Securities Law, 5728 — 1968, including, inter alia, if: (i) the offer is made, distributed or directed to not more than 35 investors, subject to certain conditions (the "Addressed Investors"); or (ii) the offer is made, distributed or directed to certain qualified investors defined in the First Addendum of the Israeli Securities Law, 5728 — 1968, subject to certain conditions (the "Qualified Investors"). The Qualified Investors shall not be taken into account in the count of the Addressed Investors and may be offered to purchase securities in addition to the 35 Addressed Investors. The Company has not and will not take any action that would require it to publish a prospectus in accordance with and subject to the Israeli

[**Table of Contents**](#TOC001)

Securities Law, 5728 — 1968. We have not and will not distribute this prospectus or make, distribute or direct an offer to subscribe for our securities to any person within the State of Israel, other than to Qualified Investors and up to 35 Addressed Investors.

Qualified Investors may have to submit written evidence that they meet the definitions set out in of the First Addendum to the Israeli Securities Law, 5728 — 1968. In particular, we may request, as a condition to be offered securities, that Qualified Investors will each represent and certify to us and/or to anyone acting on our behalf: (i) that it is an investor falling within one of the categories listed in the First Addendum to the Israeli Securities Law, 5728 — 1968; (ii) which of the categories listed in the First Addendum to the Israeli Securities Law, 5728 — 1968 regarding Qualified Investors is applicable to it; (iii) that it will abide by all provisions set forth in the Israeli Securities Law, 5728 — 1968 and the regulations promulgated thereunder in connection with the offer to be issued securities; (iv) that the securities that will be issued are, subject to exemptions available under the Israeli Securities Law, 5728 — 1968: (a) for its own account; (b) for investment purposes only; and (c) not issued with a view to resale within the State of Israel, other than in accordance with the provisions of the Israeli Securities Law, 5728 — 1968; and (v) that it is willing to provide further evidence of its Qualified Investor status. Addressed Investors may have to submit written evidence in respect of their identity and may have to sign and submit a declaration containing, inter alia, the Addressed Investor's name, address and passport number or Israeli identification number.

We have not authorized and do not authorize the making of any offer of securities through any financial intermediary on our behalf, other than offers made by the underwriters and their respective affiliates, with a view to the final placement of the securities as contemplated in this document. Accordingly, no purchaser of the shares, other than the underwriters, is authorized to make any further offer of shares on our behalf or on behalf of the underwriters.

#### Nasdaq Listing Application
Neither our Class A Common Stock nor the Investor Warrants is currently listed on any securities exchange. We have applied to have our Class A Common Stock and the Investor Warrants listed on the Nasdaq Capital Market under the symbols "THNK" and "THNKW," respectively. There is no assurance that our Class A Common Stock or Investor Warrants will be accepted for listing on the Nasdaq Capital Market and in the event that our Class A Common Stock or Investor Warrants are not accepted by Nasdaq for listing on the Nasdaq Capital Market, this Offering will not be consummated.

[**Table of Contents**](#TOC001)

#### LEGAL MATTERS
The validity of the units, the shares of Class A Common Stock and the Investor Warrants being offered by this prospectus will be passed upon for us by Ellenoff Grossman & Schole LLP, New York, New York. The underwriters have been represented in connection with this Offering by Carmel, Milazzo & Feil LLP, New York, NY.

#### EXPERTS
The balance sheets of T1V, Inc as of December 31, 2021 and 2020 and the related statements of operations, changes in mezzanine equity and stockholder's deficit and cash flows for each of the years then ended have been audited by BF Borgers CPA PC, independent registered public accounting firm, as stated in their report which is included herein. Such financial statements have been incorporated herein in reliance of such firm given upon their authority as experts in accounting and auditing.

#### WHERE YOU CAN FIND MORE INFORMATION
We have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to this Offering of the units. This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration statement, some items of which are contained in exhibits to the registration statement as permitted by the rules and regulations of the SEC. For further information with respect to us and our Class A Common Stock, we refer you to the registration statement, including the exhibits filed as a part of the registration statement. Statements contained in this prospectus concerning the contents of any contract, or any other document, are not necessarily complete. If a contract or document has been filed as an exhibit to the registration statement, please see the copy of the contract or document that has been filed. Each statement in this prospectus relating to a contract or document filed as an exhibit is qualified in all respects by the filed exhibit. The exhibits to the registration statement should be referenced for the complete contents of these contracts and documents. You may obtain copies of this information by mail from the Public Reference Section of the SEC, 100 F Street, N.E., Room 1580, Washington, D.C. 20549, at prescribed rates. You may obtain information on the operation of the public reference rooms by calling the SEC at 1-800-SEC-0330. The SEC also maintains an internet website that contains reports, proxy statements and other information about issuers, like us, that file electronically with the SEC. The address of that website is *www.sec.gov*.

Upon the closing of this Offering, we will become subject to the information and reporting requirements of the Exchange Act and, in accordance with this law, will file periodic reports, proxy statements and other information with the SEC. These periodic reports, proxy statements and other information will be available for inspection and copying at the SEC's public reference facilities and the website of the SEC referred to above.

We also maintain a website at *www.t1v.com*, at which, following the completion of this Offering, you may access these materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. Information contained on or accessible through our website is not a part of this prospectus, and the inclusion of our website address in this prospectus is an inactive textual reference only.

**You should rely only on the information contained in this prospectus. We have not authorized anyone to provide you with different information. Therefore, if anyone gives you different or additional information, you should not rely on it. The information contained in this prospectus is correct as of its date. It may not continue to be correct after this date.**

[**Table of Contents**](#TOC001)

#### T1V, INC.<br>INDEX TO FINANCIAL STATEMENTS

---

| | |
|:---|:---|
|  | **Page** |
|  [Report of Independent Registered Public Accounting Firm](#T50001) | F-2 |
|  [Balance Sheets as of December 31, 2021 and 2020](#T50002) | F-3 |
|  [Statements of Operations for the Years ended December 31, 2021 and 2020](#T50003) | F-4 |
|  [Statements of Changes in Shareholders' Equity and Shareholders' Deficit for the Years ended December 31, 2021 and 2020](#T50004) | F-5 |
|  [Statements of Cash Flows for the Years ended December 31, 2021 and 2020](#T50005) | F-6 |
|  [Notes to Financial Statements for the Years ended December 31, 2021 and 2020](#T50006) | F-7 |
|  [Condensed Balance Sheets as of September 30, 2022 (Unaudited) and December 31, 2021](#T50007) | F-36 |
|  [Condensed Statements of Operations for the Nine Months ended September 30, 2022 and 2021 (Unaudited)](#T50008) | F-37 |
|  [Condensed Statements of Changes in Shareholders' Equity and Shareholders' Deficit for the Nine Months ended September 30, 2022 and 2021 (Unaudited)](#T50009) | F-38 |
|  [Condensed Statements of Cash Flows for the Nine Months ended September 30, 2022 and 2021 (Unaudited)](#T50010) | F-39 |
|  [Notes to Condensed Financial Statements for the Nine Months ended September 30, 2022 and 2021 (Unaudited)](#T50011) | F-40 |

---

[**Table of Contents**](#TOC001)

#### Report of Independent Registered Public Accounting Firm
To the shareholders and the board of directors of T1V, Inc.

#### Opinion on the Financial Statements
We have audited the accompanying consolidated balance sheets of T1V, Inc. as of December 31, 2021 and 2020, the related statements of operations, stockholders' equity (deficit), and cash flows for the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the consolidated 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 the years then ended, in conformity with accounting principles generally accepted in the United States.

#### Basis for Opinion
These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. 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 audit 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 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 audit included performing procedures to assess the risks of material misstatement of the 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 financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ BF Borgers CPA PC

#### BF Borgers CPA PC<br>PCAOB ID 5041
We have served as the Company's auditor since 2022<br>Lakewood, CO<br>October 11, 2022

[**Table of Contents**](#TOC001)

#### T1V, INC. <br>BALANCE SHEETS

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2021** | **2020** |
|  **Assets** |  |  |
| &nbsp;&nbsp;&nbsp; Cash | $713462 | $537200 |
| &nbsp;&nbsp;&nbsp; Accounts receivable | 801680 | 880103 |
| &nbsp;&nbsp;&nbsp; Employee retention credit receivable | 295769 | 295769 |
| &nbsp;&nbsp;&nbsp; Inventory | 263459 | 297609 |
| &nbsp;&nbsp;&nbsp; Unbilled accounts receivable | 491946 | 47241 |
| &nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | 240803 | 118150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total current assets** | **2807119** | **2176072** |
| &nbsp;&nbsp;&nbsp; Property and equipment, net | 355148 | 401300 |
| &nbsp;&nbsp;&nbsp; Right of use assets, net | 391429 | 506649 |
| &nbsp;&nbsp;&nbsp; Intangible assets, net | 1108574 | 775968 |
| &nbsp;&nbsp;&nbsp; Other assets | 22556 | 22556 |
|  **Total assets** | $**4684826** | $**3882545** |
|  **Liabilities, mezzanine equity and stockholders' deficit** |  |  |
| &nbsp;&nbsp;&nbsp; Line of credit | $49984 | $821405 |
| &nbsp;&nbsp;&nbsp; Accounts payable | 907304 | 596785 |
| &nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities | 1426410 | 898344 |
| &nbsp;&nbsp;&nbsp; Accrued interest | 3307200 | 3232357 |
| &nbsp;&nbsp;&nbsp; Current portion of deferred revenue | 2785188 | 2867223 |
| &nbsp;&nbsp;&nbsp; Convertible notes payable, current portion | 751020 | 206722 |
| &nbsp;&nbsp;&nbsp; Convertible notes payable at fair value, current portion | 4000478 |  |
| &nbsp;&nbsp;&nbsp; Current portion of long-term debt, net of discount on debt | 1835728 | 2318672 |
| &nbsp;&nbsp;&nbsp; Related party notes payable | 601984 | 445115 |
| &nbsp;&nbsp;&nbsp; Current portion of operating lease liabilities | 128248 | 145968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total current liabilities** | **15793544** | **11532591** |
| &nbsp;&nbsp;&nbsp; Long-term debt, less current portion and net of discount on debt | 2936976 | 962027 |
| &nbsp;&nbsp;&nbsp; Deferred revenue, less current portion | 1106482 | 1311571 |
| &nbsp;&nbsp;&nbsp; Warrant liability | 980432 | 164615 |
| &nbsp;&nbsp;&nbsp; Convertible notes payable, less current portion |  | 600000 |
| &nbsp;&nbsp;&nbsp; Convertible notes payable at fair value, less current portion | 1211300 | 2871664 |
| &nbsp;&nbsp;&nbsp; Operating lease liabilities, less current portion | 421332 | 549579 |
|  **Total liabilities** | $**22450066** | $**17992047** |
|  Commitments and contingencies (see Note 19) |  |  |
|  **Mezzanine equity** |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1 preferred stock, $0.001 par value; 940 shares designated; 940 shares issued and outstanding at December 31, 2021 and 2020, respectively | 68456 | 64581 |
| &nbsp;&nbsp;&nbsp; Series A-2 preferred stock, $0.001 par value; 17,036 shares designated; 17,036 shares issued and outstanding at December 31, 2021 and 2020, respectively | 1033894 | 975372 |
| &nbsp;&nbsp;&nbsp; Series A-3 preferred stock, $0.001 par value; 20,442 shares designated; 20,442 shares issued and outstanding at December 31, 2021 and 2020, respectively | 1298187 | 1224705 |
| &nbsp;&nbsp;&nbsp; Series A-4 preferred stock, $0.001 par value; 18,893 shares designated; 18,893 shares issued and outstanding at December 31, 2021 and 2020, respectively | 1682770 | 1587519 |
| &nbsp;&nbsp;&nbsp; Series A-5 preferred stock, $0.001 par value; 7,179 shares designated; 6,846 shares issued and outstanding at December 31, 2021 and 2020, respectively | 710408 | 670196 |
| &nbsp;&nbsp;&nbsp; Series B preferred stock, $0.001 par value; 78,222 shares designated; 38,645 and 37,715 shares issued and outstanding at December 31, 2021 and 2020, respectively | 4955305 | 4589400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total mezzanine equity** | **9749020** | **9111773** |
|  **Stockholders' deficit** |  |  |
| &nbsp;&nbsp;&nbsp; Common stock, $0.001 par value; 300,000 shares authorized; 33,807 shares issued and outstanding at December 31, 2021 and 2020 |  |  |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital |  |  |
| &nbsp;&nbsp;&nbsp; Accumulated deficit | (27514260) | (23221275) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total stockholders' deficit** | **(27514260)** | **(23221275)** |
|  **Total liabilities, mezzanine equity and stockholders' deficit** | $**4684826** | $**3882545** |

---

#### See accompanying Notes to Financial Statements

[**Table of Contents**](#TOC001)

#### T1V, INC.<br>STATEMENTS OF OPERATIONS

---

| | | |
|:---|:---|:---|
|  | **For the years ended <br>December 31,** | **For the years ended <br>December 31,** |
|  | **2021** | **2020** |
|  Revenue |  |  |
| &nbsp;&nbsp;&nbsp; Project revenue | $6567600 | $5590054 |
| &nbsp;&nbsp;&nbsp; License Agreements | 2592215 | 2745864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total revenue | **9159815** | **8335918** |
|  Cost of revenues (exclusive of depreciation and amortization) |  |  |
| &nbsp;&nbsp;&nbsp; Project revenue | 3950.629 | 3158272 |
| &nbsp;&nbsp;&nbsp; License Agreements | 322707 | 116037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total cost of revenue (exclusive of depreciation and amortization) | **4273336** | **3239192** |
|  Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 106046 | 70910 |
| &nbsp;&nbsp;&nbsp; General and administrative | 7472505 | 6357855 |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization | 279565 | 226207 |
|  **Total operating expenses** | **7858116** | **6654972** |
|  **Operating loss** | **(2971637)** | **(1558246)** |
|  Other (income) expense |  |  |
| &nbsp;&nbsp;&nbsp; Interest expense | 2271937 | 967123 |
| &nbsp;&nbsp;&nbsp; Other (income) expense, net | (1536741) | 24744 |
|  **Total other (income) expense, net** | **735196** | **991867** |
|  Loss before income taxes | (3706833) | (2550113) |
|  Income taxes |  |  |
|  **Net loss** | $**(3706833)** | $**(2550113)** |
|  **Net loss per common share:** |  |  |
| &nbsp;&nbsp;&nbsp; Basic and diluted | $**(109.65)** | $**(75.43)** |
|  **Weighted average number of common shares outstanding** |  |  |
| &nbsp;&nbsp;&nbsp; Basic and diluted | 33807 | 33807 |

---

#### See accompanying Notes to Financial Statements

[**Table of Contents**](#TOC001)

#### T1V, INC .<br> STATEMENTS OF CHANGES IN MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Redeemable Convertible <br>Series A Preferred Stock** | **Redeemable Convertible <br>Series A Preferred Stock** | **Redeemable Convertible <br>Series B Preferred Stock** | **Redeemable Convertible <br>Series B Preferred Stock** | **Common Stock** | **Common Stock** | **Additional<br>Paid-In-<br>Capital** | **Accumulated<br> Deficit** | **Total** |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Additional<br>Paid-In-<br>Capital** | **Accumulated<br> Deficit** | **Total** |
|  **Balance at December 31, 2019** | 64157 | $4265709 | 37715 | $4328931 | 33807 | $— | $— | $(20199062) | $(20199062) |
|  Net Loss |  |  |  |  |  |  |  | (2550113) | (2550113) |
|  Accretion of Series A Preferred Stock |  | 256664 |  |  |  |  |  | (256664) | (256664) |
|  Accretion of Series B Preferred Stock |  |  |  | 260469 |  |  | (45033) | (215436) | (260469) |
|  Stock-based compensation |  |  |  |  |  |  | 45033 |  | 45033 |
|  **Balance at December 31, 2020** | 64157 | $4522373 | 37715 | $4589400 | 33807 | $— | $— | $(23221275) | $(23221275) |
|  Net Loss |  |  |  |  |  |  |  | (3706833) | (3706833) |
|  Exercise of Series B Preferred Stock Warrants |  |  | 930 | 89215 |  |  |  | (75901) | (75901) |
|  Accretion of Series A Preferred Stock |  | 271342 |  |  |  |  |  | (271342) | (271342) |
|  Accretion of Series B Preferred Stock |  |  |  | 276690 |  |  | (37781) | (238909) | (276690) |
|  Stock-based compensation |  |  |  |  |  |  | 37781 |  | 37781 |
|  **Balance at December 31, 2021** | 64157 | $4793715 | 38645 | $4955305 | 33807 | $— | $— | $(27514260) | $(27514260) |

---

#### See accompanying Notes to Financial Statements

[**Table of Contents**](#TOC001)

#### T1V, Inc .<br> STATEMENTS OF CASH FLOWS

---

| | | |
|:---|:---|:---|
|  | **For the years ended <br>December 31** | **For the years ended <br>December 31** |
|  | **2021** | **2020** |
|  **Cash flows from operating activities** |  |  |
| &nbsp;&nbsp;&nbsp; Net loss | $(3706833) | $(2550113) |
| &nbsp;&nbsp;&nbsp; Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization expense | 279565 | 226207 |
| &nbsp;&nbsp;&nbsp; Right-of-use asset | 115220 | 107955 |
| &nbsp;&nbsp;&nbsp; Stock-based compensation | 37781 | 45033 |
| &nbsp;&nbsp;&nbsp; Loss on extinguishment of convertible note |  | 1370973 |
| &nbsp;&nbsp;&nbsp; Change in fair value of convertible note | 689864 | (818384) |
| &nbsp;&nbsp;&nbsp; Write off of debt issuance costs on convertible notes payable at fair value |  | 81256 |
| &nbsp;&nbsp;&nbsp; Change in fair value of warrant liability | (34273) | (221933) |
| &nbsp;&nbsp;&nbsp; Debt issuance costs | 863404 |  |
| &nbsp;&nbsp;&nbsp; Amortization of discount on debt | 23141 | 3191 |
| &nbsp;&nbsp;&nbsp; Amortization of discount on related party notes payable | 40218 | 27538 |
| &nbsp;&nbsp;&nbsp; PPP loan forgiveness | (973900) |  |
| &nbsp;&nbsp;&nbsp; Amortization of original issue discount | 215250 |  |
| &nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable | 78423 | 1098454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee retention credit receivable |  | (295769) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventory | 34150 | (50129) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unbilled accounts receivable | (444705) | 119012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | (122653) | 140771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities | 528066 | 253089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued interest liability | 74844 | 295611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | 310519 | (328233) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred revenue | (287124) | (262274) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease liabilities | (145967) | (135355) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash used in operating activities | (2425010) | (893101) |
|  **Cash flows from investing activities** |  |  |
| &nbsp;&nbsp;&nbsp; Purchases of property and equipment | (63819) | (67547) |
| &nbsp;&nbsp;&nbsp; Purchases of patents | (90209) | (86335) |
| &nbsp;&nbsp;&nbsp; Internal software developed | (411991) | (158372) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash used in investing activities | (566019) | (312254) |
|  **Cash flows from financing activities** |  |  |
| &nbsp;&nbsp;&nbsp; Payments on line of credit, net | (771421) | (691961) |
| &nbsp;&nbsp;&nbsp; Payments on convertible notes payable | (55703) | (12599) |
| &nbsp;&nbsp;&nbsp; Proceeds on notes payable | 1500760 | 751909 |
| &nbsp;&nbsp;&nbsp; Payments on notes payable | (11245) | (10139) |
| &nbsp;&nbsp;&nbsp; Proceeds on related party notes payable | 200000 |  |
| &nbsp;&nbsp;&nbsp; Payments on related party notes payable | (104000) |  |
| &nbsp;&nbsp;&nbsp; Proceeds on convertible notes payable at fair value | 1435000 | 622582 |
| &nbsp;&nbsp;&nbsp; Proceeds from PPP loans | 973900 | 973900 |
| &nbsp;&nbsp;&nbsp; Payments on debt issuance costs |  | (45886) |
|  Net cash provided by financing activities | 3167291 | 1587806 |
|  **Net increase in cash** | 176262 | 382452 |
| &nbsp;&nbsp;&nbsp; Cash, beginning of period | 537200 | 154748 |
| &nbsp;&nbsp;&nbsp; Cash, end of period | $713462 | $537200 |
|  **Supplemental cash flow information** |  |  |
|  Cash payments for interest | $1049580 | $255857 |
|  Cash payments for income taxes |  |  |
|  **Supplemental disclosure of noncash financing activity** |  |  |
|  Accretion of Series A preferred stock | $271342 | 256664 |
|  Accretion of Series B preferred stock | 276690 | 260469 |
|  Exercise of Series B preferred stock warrants | 75901 |  |

---

See accompanying Notes to Financial Statements

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies

#### Business Description
T1V, Inc. ("T1V" or "we" or "us" or the "Company") was formed as a Delaware corporation in 2008, and the Company's mission is to empower teams to collaborate anytime, anywhere. T1V creates and installs interactive touchscreen experiences through its custom software for its customers throughout the United States and internationally. The markets the Company serves includes, but are not limited to, enterprise, higher education, and medical markets. The Company's collaboration platforms include ThinkHub<sup>®</sup> collaboration for global teams, T1V Hub™ wireless screen sharing, and the T1V app — all working cohesively to bring teams together for seamless, intuitive working sessions. The Company operates in one segment and therefore segment information is not presented.

#### Basis of Presentation
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification ("ASC") and Accounting Standards Update ("ASU") of the Financial Accounting Standards Board ("FASB").

#### Use of Estimates
Preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates made. We continually evaluate estimates used in the preparation of our financial statements for reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. The significant areas of estimation include determining:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the collectability of accounts receivable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the estimated lives and recoverability of property and equipment, as well as intangible assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the fair value of equity-based awards and convertible debt.

#### Accounts Receivable and Allowance for Doubtful Accounts
The Company performs ongoing credit evaluations of its customers and, generally, requires no collateral on accounts receivable. The Company's billings vary depending on the amount of customization required for the particular customer. The billing terms consist of a deposit paid in advance by the customer or payment within 30 days after shipment. The Company does not charge interest on overdue invoices. Customer account balances with invoices dated over 90 days may be considered delinquent, depending on the circumstances. The carrying amount of receivables is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not be collected, as deemed necessary. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. No allowance was recorded as of December 31, 2021, and 2020, as management deemed there to be no significant collection risks.

#### Major Customers
The Company has two methods of selling its products: (1) through Channel Partners, who buy the Company's products and resell them to the Company's customers (or End Users), and (2) directly to End Users, customers who buy the Company's products for their own use. In exchange for Channel Partners marketing and selling T1V's products, Channel Partners are provided with discounts on T1V products purchased. The Company defines a major customer as one whose sales represent 10% or more of the Company's total revenues. For the years ended December 31, 2021 and 2020, 77% and 93%, respectively, of the Company's revenues came from Channel Partners. For the year ended

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies (cont.)
December 31, 2021 one Channel Partner accounted for approximately 22% of revenues and 5% of accounts receivable at December 31, 2021. For the year ended December 31, 2020, one Channel Partner accounted for approximately 31% of revenues and three Channel Partners accounted for 40% of accounts receivable at December 31, 2020.

There were no End Users that would be considered major customers, for the years ended December 31, 2021 or December 31, 2020, respectively.

#### Inventory
Inventory consists of finished goods that are stated at lower of cost or net realizable value and measured using the first in, first out (FIFO) method. The Company periodically performs analyses to identify obsolete or slow-moving inventory. As of December 31, 2021, and 2020, the Company has not identified any obsolete or slow-moving inventory. At least annually, the Company reviews and monitors inventory amounts to determine if circumstances indicate the cost of inventories exceeds their net realizable value.

#### Fair Value of Financial Instruments
The Company measures fair value as required by ASC 820. ASC 820 defines fair value, establishes a framework, and gives guidance regarding the methods used for measuring fair value, and expands disclosures about fair value measurements. The Company uses valuation techniques based on inputs such as observable data, independent market data and/or unobservable data. Additionally, T1V makes assumptions in valuing its assets and liabilities, including assumptions about risk and the risks inherent in the inputs to the valuation techniques.

The Company classifies fair value measurements within one of three levels in the fair value hierarchy. The level assigned to a fair value measurement is based on the lowest level input that is significant to the fair value measurement in its entirety. Assessing the significance of a particular input requires judgment. The three levels of the fair value hierarchy are as follows:

Level 1 — quoted prices for identical instruments in active markets.

Level 2 — quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations in which significant inputs and significant value drivers are observable in active markets; and

Level 3 — fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial statement. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The Company's policy is to recognize significant transfers between levels at the end of the reporting period.

The Company considers its cash, accounts receivable, employee retention credit receivable, unbilled accounts receivable, accounts payable, accrued expenses, accrued interest payable, lines of credit and notes payable to meet the definition of financial instruments. The carrying amount of cash, accounts receivable, employee retention credit receivable, unbilled accounts receivable, accounts payable, accrued expenses, accrued interest payable and lines of credit approximated their respective fair value due to the short maturities of these instruments. See Note 6 for further disclosures of fair value.

The Company's warrant liabilities and convertible notes were classified within Level 3 of the fair value hierarchy because their fair values were estimated by utilizing valuation models and significant unobservable inputs. The Company accounts for these warrants as liabilities in accordance with ASC 815-40. Warrant liabilities are measured at fair value at inception and expensed as other income (expense). In addition, the warrants are valued each reporting

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies (cont.)
period and adjusted to market, with the increase or decrease being adjusted through earnings. The warrants and convertible notes were valued using a scenario-based discounted cash flow analysis that modeled two probability weighted scenarios to arrive at the valuation conclusion for each convertible note and warrant liability.

#### Warrants
When the Company issues warrants, it evaluates the proper balance sheet classification of the warrant to determine whether the warrant should be classified as equity or as a derivative liability on the balance sheets. In accordance with ASC 815-40, the Company classifies a warrant as equity so long as it is "indexed to the Company's equity" and several specific conditions for equity classification are met. A warrant is not considered indexed to the Company's equity, in general, when it contains certain types of exercise contingencies or adjustments to exercise price. If a warrant is not indexed to the Company's equity or it has net cash settlement that results in the warrants to be accounted for under ASC 480 or ASC 815-40, it is classified as a derivative liability which is carried on the balance sheet at fair value with any changes in its fair value recognized currently in the statements of operations.

All of the Company's warrants are classified as liabilities as of December 31, 2021 and 2020.

#### Fair Value Option
The Company accounts for certain convertible notes issued during the years ended December 31, 2021 and 2020 under the fair value option election ("FVO") of ASC 825, as discussed below.

The convertible notes accounted for under the FVO election are each debt host financial instruments containing embedded features which would otherwise be required to be bifurcated from the debt-host and recognized as separate derivative liabilities subject to initial and subsequent periodic estimated fair value measurements under ASC 815. Notwithstanding, ASC 825-10-15-4 provides for the "fair value option" election, to the extent not otherwise prohibited by ASC 825-10-15-5, to be afforded to financial instruments, wherein bifurcation of an embedded derivative is not necessary, and the financial instrument is initially measured at its issue-date estimated fair value and then subsequently remeasured at estimated fair value on a recurring basis at each reporting period date.

The estimated fair value adjustment, as required by ASC 825-10-45-5, is recognized as other income (expense) in the accompanying statements of operations. With respect to the above notes, as provided for by ASC 825-10-50-30(b), the estimated fair value adjustment is presented in a respective single line item within other income (expense) in the accompanying statements of operations, since the change in fair value of the convertible notes payable was not attributable to instrument specific credit risk.

#### Revenue Recognition
The Company accounts for revenue in accordance with ASC 606. The Company recognizes revenue using the five-step model as in accordance with ASC 606 Revenue from contracts with customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Identification of the contract, or contracts, with a customer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Identification of the distinct performance obligations in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Determination of the transaction price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Allocation of the transaction price to the performance obligations in the contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Recognition of revenue when or as the Company satisfies a performance obligation.

T1V provides custom configured combined hardware and software to its customers. The Company's sales are initiated by either Channel Partners representing T1V's products or initiated directly to the end user. Ultimately, T1V ships custom configured hardware and loads and tests the software to the channel partner, who then ships it to the end user, often along with additional hardware added by channel partner. In exchange for Channel Partners marketing and selling T1V's products, Channel Partners are provided with discounts on T1V products purchased. Discounts are agreed on upfront with the Channel Partner and do not represent variable consideration.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies (cont.)
The contracts are also packaged with a fixed-term subscription that grants the end user access to the Company's software and post contract support, as well as optional installation or virtual and onsite training services. After the initial term, the end-user will pay a license renewal fee in order to renew the license for the next term. This fee is sometimes paid directly by the end-user to the Company and sometimes it is paid through a channel partner. If it is paid through a channel partner, then the channel partner retains a portion of the license renewal fee, typically 10%.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customers and is the unit of account under ASC 606. The contract transaction price is allocated to each distinct performance obligation in proportion to stand-alone selling price and recognized as revenue, when, or as, the performance obligation is satisfied. The Company has identified hardware and software development, subscription services, installation, and training as distinct performance obligations.

*Hardware and Software Development*

The Company's interactive touchscreen experiences consist of hardware and embedded software configured to the customers' needs and delivered to the customer as a combined offering. If a customer requests additional functionality to the software, the Company may also perform additional customization services which do not significantly modify or customize the underlying software and have the same pattern of transfer. Hardware and software development is performed over a period of two to six months and is typically billed based on completion of mutually agreed upon phases. T1V has an enforceable right to payment for work performed to date, and a practical limitation exists which prevents the asset from having an alternative use to the entity. Therefore, the Company recognizes revenue over time as the performance obligation is satisfied. The Company measures completion using an input measure of total costs incurred divided by total costs expected to be incurred.

*Subscription Services*

Initial contracts with a customer are also packaged with a fixed-term subscription to license the Company's software and post contract support that are bundled services provided to the customer as software as a service ("SaaS"). After the initial subscription period has ended, the customer must enter into a recurring license agreement ("RLA") contract to continue their use of the software subscription which includes only subscription services. The Company has determined that subscriptions for its online software products are distinct because, once the bundled hardware and software is available to the customer, the SaaS is fully functional and does not require any additional development, modification, or customization. The nature of the Company's promise is a stand-ready obligation, as the customer consumes and receives benefit from having access to the various software offerings throughout the overall obligation period. Therefore, the Company's promise to perform each service period is performed over time and is recognized ratably over the subscription period, which ranges from one to seven years. This is because the pattern of benefit to the customer, as well as the Company's efforts to fulfill the contract, are generally even throughout the subscription period.

*Installation/Training*

Depending on the needs of the customer, T1V may install the product at the end-user customer's location, as well as provide virtual and onsite training. These services are not a requirement of the contracts as the customers can purchase and operate the hardware and software without the services. Any training or installation services utilized is recognized over time as services are rendered.

*Contract Types*

Contracts fall under various contract types including 1) standard contracts, 2) custom contracts and 3) RLA contracts for subscription service renewals. Standard contracts typically include the Company being contracted by a channel partner to provide hybrid collaboration hardware and software. Custom contracts are contracts in which a customer has requested a specialized or unique offering that differs from the Company's standard offerings. In both cases, subscriptions services are included within the contract. RLA contracts entered into with customers represent recurring subscription revenue from providing customers with software as a service after the initial license period has ended.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies (cont.)
For arrangements with multiple performance obligations the Company allocates the transaction price to all distinct performance obligations based on their relative stand-alone selling prices ("SSPs"). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established utilizing a cost plus a reasonable profit margin approach to estimate the standalone selling price of each product or service.

The Company disaggregates its revenue by geographic region and major revenue stream. The Company's two main revenue streams are referred to as project revenues and license agreements. Project revenues represent non-recurring revenues such as hardware and software development revenue, installation, and training. License agreements refer specifically to recurring subscription service revenues included in both initial contracts and RLAs. Refer to Note 13 — Revenue Recognition for more information.

*Deferred Revenue*

The Company's deferred revenue reflects amounts received in advance that will be recognized as revenue over time or as services are rendered. Deferred revenue expected to be realized within one year is classified as a current liability and the remaining is recorded as a non-current liability.

#### Impairment of Long-Lived Assets and Intangible Assets
The Company assesses the impairment of long-lived assets used in operations (primarily property and equipment), and any purchased intangible assets subject to amortization when events and circumstances indicate that the carrying value of the assets may not be recoverable. For purposes of evaluating the recoverability of fixed assets and amortizing intangible assets, the undiscounted cash flows estimated to be generated by those assets are compared to the carrying amounts of those assets. When the carrying values of the assets exceed the undiscounted cash flows, the related assets are written down to fair value.

For the years ended December 31, 2021, and 2020, there were no impairments to property and equipment or intangible assets.

#### Concentration of Credit Risk
Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash. The Company maintains its cash on deposit with a federally insured institution in North Carolina. Commercial bank balances may from time to time exceed federally insured limits.

#### Property and Equipment
Property and equipment are stated at cost and are depreciated over the estimated useful lives of the related assets, which range from five to seven years. Leasehold improvements are amortized over the shorter of either the asset's useful life or the related lease term. Depreciation and amortization is computed on the straight-line method for financial reporting purposes.

#### Intangible Assets
T1V specializes in hybrid collaboration software for enterprise, medical and education markets. The Company internally develops software and applications for their collaboration applications. The Company's intangible assets consist of the internally developed software and issued patents, licenses, and trademarks, as well as patents and trademarks pending, on the internally developed software and intellectual property. All costs incurred to create the patents and trademarks are capitalized as patents or trademarks pending until the Company receives approval from the United States Patent Office. Once approval is received, the Company amortizes the patent or trademark over its useful life, which has been deemed to be 20 years. The Company amortizes its internally developed software over its useful life of 3 years.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies (cont.)

#### Income Taxes
We use the asset and liability method to determine our income tax expense or benefit. Deferred tax assets and liabilities are computed based on temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates that are expected to be in effect when the differences are expected to be recovered or settled. Any resulting net deferred tax assets are evaluated for recoverability and, accordingly, a valuation allowance is provided when it is more likely than not that all or some portion of the deferred tax asset will not be realized.

The Company adopted the ASC 740 Income tax provisions of paragraph 740-10-25-13, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under paragraph 740-10-25-13, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Paragraph 740-10-25-13 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no adjustments to its liabilities for unrecognized income tax benefits according to the provisions of paragraph 740-10-25-13.

#### Stock-based Compensation
Stock-based awards have been accounted for as required by ASC 718. Under ASC 718 stock-based awards are valued at fair value on the date of grant. The Company recognizes stock-based expenses related to stock options on a straight-line basis over the requisite service period of the awards. The Company accounts for forfeitures when they occur. The fair value of option awards is measured on the grant date using a Black-Scholes model. Generally, new shares are issued to satisfy exercises of stock options. See Note 16 - Stock-Based Compensation.

#### Employee Retention Credit
The Employee Retention Credit ("ERC") under the CARES Act is a refundable tax credit which encourages business to keep employees on the payroll during the COVID-19 pandemic. Eligible employers can qualify for up to $5,000 of credit for each employee based on qualified wages paid after March 12, 2020 and before January 1, 2021. The Internal Revenue Service ("IRS") subsequently issued Notice 2021-23 and Notice 2021-49 which collectively extended the ERC eligibility to cover qualified wages paid after December 31, 2020 and before January 1, 2022. Qualified wages are the wages paid to an employee for the time that the employee is not providing services due to an economic hardship, specifically, either (1) a full or partial suspension of operations by order of a governmental authority due to COVID-19, or (2) a significant decline in gross receipts. Our policy is to recognize the ERC when it is filed with the IRS. We recognized $1,199,098 and $295,769 of ERC in other (income) expense on the statements of operations for the year ended December 31, 2021 and 2020, respectively.

#### Paycheck Protection Program
On March 27, 2020, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). The Paycheck Protection Program ("PPP"), established by the CARES Act, implemented by the U.S. Small Business Administration ("SBA"), provides businesses with funds to pay payroll and other costs during the COVID-19 outbreak. During the years ended December 31, 2021 and 2020, the Company applied for and received PPP funds. The Company has elected to record the PPP funds as a loan under ASC 470. See Note 11 — Long-Term Debt for further disclosures.

The SBA reserves the right to audit the PPP loans after forgiveness is granted in accordance with the CARES Act. Borrowers are required to maintain the PPP loan documentation for six years after the PPP loan was forgiven and to provide that documentation to the SBA upon request. While the Company believes that it is a qualified business and

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies (cont.)
that it has met the eligibility requirements of the PPP loans, and believes that it has used the loan proceeds only for expenses which may be paid using proceeds from the PPP loans, no assurance can be provided that any potential SBA audit will verify the amounts forgiven, in whole or in part, and the Company could be required to repay all or part of the forgiven amount.

#### Leases
The Company leases facility and various pieces of equipment under non-cancellable operating leases and accounts for these leases in accordance with ASC 842. Operating lease right-of-use ("ROU") assets and liabilities are recognized at commencement date based on the present value of lease payments over the expected lease term. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Since our lease arrangements do not provide an implicit rate, we use our estimated incremental borrowing rate for the expected remaining lease term at commencement date in determining the present value of future lease payments.

Operating lease expense is recognized on a straight-line basis over the lease term. Variable lease payments are not included in the lease payments to measure the lease liability and are expensed as incurred. The Company's leases have remaining terms of one to three years and some of the leases include a Company option to extend the lease term for less than twelve months to five years, or more, which if reasonably certain to exercise, the Company includes in the determination of lease payments. The lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Leases with an initial term of 12 months or less are not recognized on the balance sheet and the expense for these short-term leases is recognized on a straight-line basis over the lease term. Common area maintenance fees (or CAMs) and other charges related to leases are expensed as incurred. See Note 9 - Operating Leases and Right-of-Use Assets for further discussion of the Company's lease activities.

#### Recently Issued Accounting Pronouncements
The Company considers the impact of all Accounting Standards Updates (ASU). ASUs not discussed below were assessed and determined to be either not applicable or expected to have minimal impact on the financial statements.

*Credit Losses*

ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). In June 2016, the FASB issued ASU No. 2016-13. The amendments in ASU 2016-13, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The FASB has issued multiple updates to ASU 2016-13 as codified in Topic 326, including ASU's 2019-04, 2019-05, 2019-10, 2019-11, 2020-02, and 2020-03. These ASU's have provided for various minor technical corrections and improvements to the codification as well as other transition matters. Smaller reporting companies who file with the U.S. Securities and Exchange Commission (the "SEC") and all other entities who do not file with the SEC are required to apply the guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company is currently evaluating the potential impact of ASU 2016-13 on its financial statements and does not anticipate a material impact on its financial statements.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies (cont.)
*Reference Rate Reform*

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), which provides practical expedients and certain relief to help Companies transition from the London Interbank Offered Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR). The Company is currently evaluating the impact of the transition from LIBOR to SOFR and does not anticipate a material impact the on its financial statements. The amendments were effective for all entities as of March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022.

#### Note 2 — Liquidity
The Company incurred a net loss of $3,706,883 and $2,550,113 during the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021 and 2020, the Company had a working capital deficit of $12,986,425 and $9,356,519, respectively. The Company has received funding in the form of periodic capital raises and also plans to raise additional funding in the future through an initial public offering (IPO) to support its capital needs. The Company's ability to continue as a going concern is highly contingent on the ability to either extend the maturity of its existing debt, refinance its existing debt, convert the debt to equity, or raise additional capital.

As described in Note 3, in December 2021, the Company entered into an agreement with Liquid Capital Exchange, Inc. to factor certain accounts receivable with recourse, up to $1,000,000. In January and February 2022, the Company raised $200,000 in cash through the issuance of convertible notes. In July 2022, the Company raised an additional $360,000 in cash through the issuance of convertible notes.

The Company's capital requirements in the future will continue to depend on numerous factors, including the timing and amount of revenue earned by the Company, the timing of collection of outstanding accounts receivable, the expense to deliver services, and the debt service obligations under the Company's note payable agreements. There can be no assurance that, in the event that the Company requires additional financing, such financing will be available at terms acceptable to the Company, if at all. If unable to secure required additional funding, significant delays to the Company's continuing development that are critical to the future operations of the Company could occur. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

#### Note 3 — Accounts Receivable Agreements
In December 2021, the Company entered into an agreement with Liquid Capital Exchange, Inc. ("Liquid Capital" or "the Factor") to factor certain accounts receivable with recourse, up to $1,000,000. Under this agreement, Liquid Capital and the Company agreed to an advance rate of 86% of the face amount of the receivable based on the occurrence of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An account purchased by the Factor is not paid in full within 90 days after the invoice date

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The customer objects to the quality of the goods or services, or the customer refuses to accept or does not receive the goods or services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The customer suspends business, requests an extension of time within which to pay, or files a petition in bankruptcy for liquidation or reorganization

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Factor determines that the account is or has become uncollectible,

There is also an initial factor fee of 1.0% of the face amount of the accounts factored. There are additional fees of .055% for purchased accounts that remain unpaid for up to 30 days and .065% for purchased accounts that remain unpaid for greater than 30 days.

The Factor may require the Company to repurchase the account by either making a payment to the Factor of the amount owed, by providing another account with a face value equal to or exceeding the face value of the unpaid account, or by charging the Company's reserve. As of December 31, 2021, the Company has not sold any receivables to the Factor.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 4 — Property and Equipment, net
Property and equipment, net consisted of the following as of December 31, 2021 and 2020:

---

| | | | |
|:---|:---|:---|:---|
|  | **2021** | **2020** | **Estimated <br>Useful Life** |
|  Furniture and fixtures | $310741 | $310741 | 5 to 7 years |
|  Equipment | 721534 | 657715 | 5 to 7 years |
|  Software | 5397 | 5397 | 5 to 7 years |
|  Leasehold improvements | 293767 | 293767 | (\*) |
|  Total property and equipment | $1331439 | $1267620 |  |
|  Accumulated depreciation | (976291) | (866320) |  |
|  Total Property and Equipment, Net | $355148 | $401300 |  |

---

____________

(\*) **—** Amortized over the shorter period of the estimated useful life or the lease term.

Related depreciation expense was $109,971 and $112,871 for the years ended December 31, 2021, and December 31, 2020, respectively.

#### Note 5 — Intangible Assets, Net
The following table presents the components of net intangible assets:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2021** | **As of December 31, 2021** | **As of December 31, 2021** | **As of December 31, 2020** | **As of December 31, 2020** | **As of December 31, 2020** |
|  | **Gross <br>Carrying <br>Amount** | **Accumulated <br>Amortization** | **Net <br>Carrying <br>Amount** | **Gross <br>Carrying <br>Amount** | **Accumulated <br>Amortization** | **Net <br>Carrying <br>Amount** |
|  Patents issued | $200776 | $(21071) | $179705 | $167925 | $(11697) | $156228 |
|  Internally developed software | 1025085 | (349663) | 675422 | 613094 | (189443) | 423651 |
|  Trademarks | 10217 | (8120) | 2097 | 10217 | (8120) | 2097 |
|  Patents and trademarks pending | 251350 |  | 251350 | 193992 |  | 193992 |
| &nbsp;&nbsp;&nbsp; Total | $1487428 | $(378854) | $1108574 | $985228 | $(209260) | $775968 |

---

During the years ended December 31, 2021, and 2020, no impairment charges were required. Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets, which is three years for internally developed software, and five years for all other intangible assets except patents and trademarks pending, in accordance with ASC Topic 350. Related amortization expense was $169,594 and $113,336 for the years ended December 31, 2021, and 2020, respectively. The Company determined the costs of patents and trademarks pending applications are not amortized until the patent is filed. The Company reviews capitalized costs related to patents and trademarks pending each reporting period to assess whether the patent will be successfully filed.

We estimate amortization expense for the next five years and beyond will be as follows:

---

| | |
|:---|:---|
|  **Years Ending December 31,** | **Intangible <br>Assets** |
| 2022 | $269646 |
| 2023 | 234421 |
| 2024 | 170170 |
| 2025 | 10058 |
| 2026 | 10039 |
|  Thereafter | 162890 |
|  Total amortization | $857224 |

---

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 6 — Fair Value Measurement
The following tables present information about our financial instruments that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2021** | **As of December 31, 2021** | **As of December 31, 2021** | **As of December 31, 2021** |
|  | **Fair Value** | **Level 1** | **Level 2** | **Level 3** |
|  **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Convertible notes | $5211778 |  |  | $5211778 |
| &nbsp;&nbsp;&nbsp; Warrant liability | 980432 |  |  | 980432 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2020** | **As of December 31, 2020** | **As of December 31, 2020** | **As of December 31, 2020** |
|  | **Fair Value** | **Level 1** | **Level 2** | **Level 3** |
|  **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Convertible notes | $2871664 |  |  | $2871664 |
| &nbsp;&nbsp;&nbsp; Warrant liability | 164615 |  |  | 164615 |

---

#### Convertible Notes Payable
The Company classifies privately held convertible notes as Level 3 due to the lack of relevant observable market data over fair value inputs, such as the probability weighting of the various scenarios that can impact settlement of the arrangement. The convertible notes are accounted for under the FVO election in ASC 825. Under the FVO election, the financial instrument is initially measured at its issue-date estimated fair value and subsequently remeasured at estimated fair value on a recurring basis at each reporting period date. The estimated fair value adjustment is presented as a single line item within other income (expense) in the accompanying statements of operations. The estimated fair value of the convertible notes as of December 30, 2021 and 2020, was computed using a Black-Scholes simulation of the present value of its cash flows using a synthetic credit rating analysis and a required rate of return, using the assumptions shown below. See Note 10 for additional information.

The significant inputs in the valuation model for the years ended December 31, 2021 and 2020 are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Inputs** | **Convertible Notes** | **Convertible Notes** | **2020 Convertible Notes** | **2020 Convertible Notes** | **2021 Convertible Notes** | **2021 Convertible Notes** |
|  | **2020** | **2021** | **2020** | **2021** | **2020** | **2021** |
|  Valuation method | Monte Carlo <br>Simulation | Monte Carlo <br>Simulation | Discounted <br>Cash Flow | Discounted <br>Cash Flow |  | Straight <br>Debt plus <br>Call Option |
|  Face value principal payable | $1232099 | $1232099 | $1063480 | $1063480 |  | $1650250 |
|  Original conversion price | $84.40 | $84.40 | 80% of <br>common <br>stock price | 80% of <br>common <br>stock price |  | $74.25 |
|  Value of common stock | $6.34 | $32.10 | $6.34 | $32.10 |  | $32.10 |
|  Expected term (years) | 3.0 | 3.0 |  |  |  | .61 |
|  Volatility | 73% | 69% |  |  |  | 51% |
|  Straight debt yield | 6% | 6% | 7% | 7% |  | 10% |
|  Risk free rate | .2% | 1% |  |  |  | .24% |

---

#### Warrant Liability
The Company has determined that its derivative liability warrants exercisable for Series B preferred stock and common stock fall within Level 3 of the fair value hierarchy. The Company utilizes a Black-Scholes model to measure the fair value of the derivative liability warrants. The Company's Black-Scholes model includes assumptions related to the expected stock-price volatility, expected term, dividend yield, and risk-free interest rate. See Note 12 for additional information.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 6 — Fair Value Measurement (cont.)
The significant inputs in the valuation model for the years ended December 31, 2021 and 2020 are as follows:

---

| | | |
|:---|:---|:---|
|  **Inputs** | **2021** | **2020** |
|  Common stock price | $32.10 | $6.34 |
|  Series A preferred stock price | $39.21 | $15.70 |
|  Series B preferred stock price | $114.67 | $63.40 |
|  Weighted average exercise price | $67.00 | $11.30 |
|  Volatility | 70% | 75% |
|  Weighted average expected term of the warrants (years) | .99 | 3.63 |
|  Risk-free rate | .39% | .17% |
|  Dividend yield | $— | $— |

---

The Company estimates the volatility of its common stock based on factors including, but not limited to, implied volatility of the warrants, the historical performance of comparable companies, and management's understanding of the volatility associated with similar instruments of other entities.

The risk-free rate is based on the yield of the U.S. Treasury Constant Maturity for a term that approximates the expected remaining life, which is assumed to be the remaining contractual term, of the warrants.

The dividend rate is based on the Company's historical rate, which the Company anticipates to remain at zero.

The Company recorded income of $34,273 and $221,933 due to change in fair value of the warrant liability during the year ended December 31, 2021 and 2020, respectively, and had a balance of $980,432 and $164,615 as of December 31, 2021 and 2020, respectively, recorded in its balance sheets.

#### Note 7 — Line of Credit

#### Pacific Western Bank
On August 12, 2015, the Company entered into a Line of Credit agreement with Pacific Western Bank ("Pacific LOC"). The Pacific LOC provides for borrowings up to $2,000,000. Borrowings are collateralized by all the Company's assets and bear interest at a rate of 10.99% per annum. The Pacific LOC automatically renews each year unless Pacific Western Bank calls the line of credit or the Company cancels the line of credit. As of December 31, 2020, the balance on the line of credit was $772,996. During the year ended December 31, 2021, the Company paid the balance on the Pacific LOC in full and subsequently cancelled the line of credit. The accrued interest was $0 and $5,847 at December 31, 2021 and December 31, 2020, respectively.

#### First Citizens Bank
On April 15, 2020, the Company entered into a Line of Credit agreement with First Citizens Bank ("First Citizens LOC"). The First Citizens LOC provides for borrowings up to $50,000. Unsecured borrowings bear interest at a rate of 4.00% per annum and do not contain any debt covenants. The First Citizens LOC automatically renews each year unless First Citizens Bank calls the line of credit or the Company cancels the line of credit. As of December 31, 2020, the balance on the line of credit was $48,409. As of December 31, 2021, the balance on the line of credit was $49,984. The Company did not have any accrued interest on this line of credit as of December 31, 2021 and 2020, respectively.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 8 — Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities as of December 31 consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
|  Accrued compensation costs | $512407 | $355009 |
|  Accrued professional fees | 351523 | 364643 |
|  Sales taxes payable | 1444 | 1160 |
|  Other accrued expenses and other current liabilities | 561036 | 177532 |
|  Total accrued expenses and other current liabilities | $1426410 | $898344 |

---

#### Note 9 — Operating Leases and Right-of -Use (ROU) Assets
The Company leases its facility and various pieces of equipment under non-cancelable leases expiring at various dates through August 2025.

Supplemental statements of operations information related to leases was as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2021** | **2020** |
|  Operating lease expense | $162462 | $165925 |

---

Supplemental cash flow information related to leases was as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2021** | **2020** |
|  Cash paid for amounts included in the measurement of lease liabilities: |  |  |
| &nbsp;&nbsp;&nbsp; Operating cash flows from operating leases | $145967 | $135355 |

---

Supplemental balance sheet information related to leases was as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2021** | **2020** |
|  Right of use asset: |  |  |
| &nbsp;&nbsp;&nbsp; Operating Lease Right-of-Use Assets, net | $391429 | $506649 |
|  Lease liabilities: |  |  |
| &nbsp;&nbsp;&nbsp; Current portion of operating lease liabilities | 128248 | 145968 |
| &nbsp;&nbsp;&nbsp; Long term lease liability | 421332 | 549579 |
| &nbsp;&nbsp;&nbsp; Total operating lease liabilities | $549580 | $695547 |

---

---

| | | |
|:---|:---|:---|
|  | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2021** | **2020** |
|  Weighted Average Remaining Lease Term |  |  |
| &nbsp;&nbsp;&nbsp; Operating Leases | 44 months | 54 months |
|  Weighted Average Discount Rate |  |  |
| &nbsp;&nbsp;&nbsp; Operating Leases | 7.75% | 7.72% |

---

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 9 — Operating Leases and Right-of -Use (ROU) Assets (cont.)
The following table summarizes the future undiscounted cash payments reconciled to the lease liability:

---

| | |
|:---|:---|
|  **Years Ending December 31,** | **Operating <br>Leases** |
| 2022 | $165327 |
| 2023 | 170287 |
| 2024 | 175395 |
| 2025 | 119698 |
|  Total lease payments | $630707 |
| &nbsp;&nbsp;&nbsp; Effect of discounting | (81127) |
|  Total lease liability | $549580 |

---

#### Note 10 — Convertible Notes Payable

#### Convertible Notes
Prior to 2020, the Company executed convertible promissory notes ("Convertible Notes") with a lender with an aggregate principal amount of $1,232,099. On February 5, 2020, the Company amended the Convertible Notes which had a face value on the amendment date of $1,255,595. Under the terms of the amendment, the outstanding principal under the Convertible Notes will accrue interest at a rate of 6% ("nonconvertible interest"). Upon the occurrence of a deemed liquidation event or a stock sale, the Company shall pay to the lender an amount equal to (i) the convertible balance, which shall mean the outstanding principal and accrued interest on the Convertible Notes as of October 11, 2018, plus (ii) the as-converted balance, which shall mean the convertible balance divided by $84.40 multiplied by 1.6657 multiplied by the amount per share received by holders of Common Stock in connection with a deemed liquidation event or stock sale, plus (iii) the unpaid and accrued nonconvertible interest. In the event the Company effects a redemption, the Company shall pay to the lender the redemption amount, which shall mean an amount equal to the product of (a) the price per share of Series B Preferred Stock as part of such redemption multiplied by (b) the quotient of the redemption amount divided by $84.40. The Company shall also pay to the lender an amount equal to the total unpaid and accrued nonconvertible interest multiplied by a fraction, the numerator of which is the redemption amount and the denominator of which is the convertible balance. The Convertible Notes do not have a stated maturity date.

The Company elected the fair value option to account for the Convertible Notes. The fair value of the Convertible Notes on issuance was recorded as $2,500,000. As a result of the amendment, Company recorded a loss on extinguishment of $0 and $1,244,405 for the years ended December 31, 2021 and 2020, respectively, to account for the increase in fair value of the Convertible notes as other (income) expense in the Company's statements of operations.

The fair value of the note increased by $635,500 and decreased by $960,000, respectively, for the years ended December 31, 2021 and 2020, and was recognized as current period other (income) expense in the Company's statements of operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk).

#### 2020 Convertible Notes
On February 5, 2020, the Company executed a Note Purchase Agreement with various investors and issued convertible promissory notes with an aggregate principal amount of $1,063,480 ("2020 Convertible Notes"). Outstanding principal under the 2020 Convertible Notes will accrue interest at a rate of 7% per annum. The principal and unpaid accrued interest of each note will be automatically converted into Conversion Shares upon the closing of a Qualified Financing. Qualified Financing shall mean the next sale (or series of related sales) by the Company of its Equity Securities from which the Company receives gross proceeds of not less than $5,000,000, excluding (i) the aggregate amount of debt securities converted into Equity Securities upon conversion of the notes; and (ii) the aggregate amount used to redeem Equity Securities or debt securities of the Company. The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 10 — Convertible Notes Payable (cont.)
unpaid accrued interest on a note to be converted on the date of conversion, by the Conversion Price, which shall mean 80% of the price paid per share for Equity Securities by the investors in the Qualified Financing. Equity Securities include the Company's common stock or preferred stock or any securities conferring the right to purchase the Company's common Stock or preferred stock or securities convertible into, or exchangeable for (with or without additional consideration), the Company's common stock or preferred stock. At least five days prior to the closing of the Qualified Financing, the Company shall notify each holder of a Note in writing of the terms under which the Equity Securities of the Company will be sold in such financing. The initial maturity date of the notes was February 5, 2022.

In March 2022, the Company agreed to amend the Note Purchase Agreement entered into on February 5, 2020 in order to extend the maturity date to December 31, 2022.

Of the aggregate principal amount, $441,048 relates to pre-existing convertible note agreements that were rolled over into the Note Purchase Agreement. As a result of the transaction, the Company recorded a loss on extinguishment of $0 and $126,568 for the years ended December 31, 2021 and 2020, respectively, as other (income) expense in the Company's statements of operations.

The Company elected the fair value option to account for the 2020 Convertible Notes. The fair value of the 2020 Convertible Notes on issuance was recorded as $1,190,048. The fair value of the note decreased by $120,364 and increased by $141,616, respectively, for the years ended December 31, 2021 and 2020, and was recognized as current period other (income) expense in the Company's statements of operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk).

Fees relating to the Company's entry into the Note Purchase Agreement consisted primarily of legal fees which were expensed as interest expense in the Company's statements of operations. For the years ended December 31, 2021 and 2020, the Company expensed $0 and 81,256 of debt issuance costs, respectively.

#### 2021 Convertible Notes and Convertible Notes Warrants
In November 2021, the Company executed convertible promissory notes with multiple investors with a total principal amount of $1,650,250 ("2021 Convertible Notes"). Outstanding principal under the 2021 Convertible Notes will accrue interest at a rate of 10% per annum. The investors may elect to convert all of the outstanding principal and accrued but unpaid interest due under the 2021 Convertible Notes into shares of common stock two months from the date of issuance. The Conversion Price per share for the shares of common stock shall equal (i) for 25% of the amount of principal and interest: a $17,500,000 valuation and (ii) for the remaining 75% of the amount of principal and interest: a 20% discount to the Company's initial public offering price. At any time after two months from the date of issuance, or at the sole discretion of the Company's Board of Directors, all of the outstanding principal and accrued but unpaid interest due under this 2021 Convertible Notes shall automatically convert to common stock at the Conversion Price immediately prior to the occurrence of any of the following (i) a merger in which the shareholders of the Company prior to the merger hold less than 50% of the voting power of the capital stock of the surviving corporation after such merger, a sale of all of the assets of the Company or a transaction or series of transactions in which 50% or more of the voting power of the capital stock of the Company is transferred; or (ii) the closing of an initial public offering of the Company's equity securities. The maturity date of the 2021 Convertible Notes is November 5, 2022.

In connection with the 2021 Convertible Notes, the Company issued Convertible Notes Warrants that are exercisable for common stock at any time on or before November 5, 2026. The number of shares of common stock initially purchasable under the warrants shall be equal to a variable number of shares, and the warrant exercise price shall be subject to adjustment from time to time. See Note 13 for additional information.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 10 — Convertible Notes Payable (cont.)
The Company elected the fair value option to account for the 2021 Convertible Notes. The fair value of the 2021 Convertible Notes on issuance was recorded as $1,650,250. The fair value of the note increased by $174,728 for the year ended December 31, 2021 and was recognized as current period other (income) expense in the Company's statements of operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk).

The following table is a summary of the Company's convertible notes payable for which it elected the fair value option as of December 31, 2021 and 2020:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Convertible<br> Notes** | **2020<br> Convertible<br> Notes** | **2021<br> Convertible<br> Notes** | **Total** |
|  Fair value at December 31, 2019 | $— | $— | $— | $— |
|  Fair value on issuance date | 2500000 | 1190048 |  | 3690048 |
|  Change in fair value | (960000) | 141616 |  | (818384) |
|  Convertible notes payable at fair value at December 31, 2020 | 1540000 | 1331664 |  | 2871664 |
|  Fair value at December 31, 2020 | 1540000 | 1331664 |  | 2871664 |
|  Fair value on issuance date |  |  | 1650250 | 1650250 |
|  Change in fair value | 635500 | (120364) | 174728 | 689864 |
|  Convertible notes payable at fair value at December 31, 2021 | 2175500 | 1211300 | 1824978 | 5211778 |
|  Less: current portion of convertible notes payable at fair value | 2175500 |  | 1824978 | 4000478 |
|  Total convertible notes payable at fair value, less current portion | $— | $1211300 | $— | $1211300 |

---

#### Pre-2020 Convertible Notes
During the calendar years 2013-2015, the Company executed convertible note payable agreements with various investors ("Pre-2020 Convertible Notes"). The Company measures the Pre-2020 Convertible Notes at amortized cost. Outstanding principal on the Pre-2020 Convertible Notes will accrue interest at a rate of 12% per annum. The principal and interest of the Pre-2020 Convertible Notes is convertible at the option of the note holders into shares of the Company's Series B Preferred Stock six months following the achievement of (i) all milestones set forth in a certain Series B Preferred Stock Purchase Agreement with an investor and (ii) two consecutive quarters of earnings before interest, taxes, depreciation, and amortization ("EBITDA") (collectively, the "Note Conversion Milestones"). The number of shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on the Pre-2020 Convertible Notes on the date of conversion by $84.40. On December 31, 2016, the Company achieved the Note Conversion Milestones. Therefore, the optional conversion feature expired for all of the investors of the Pre-2020 Convertible Notes on June 30, 2017. The Pre-2020 Convertible Notes do not have a stated maturity date.

As of December 31, 2021 and 2020, the outstanding principal balance on the Pre-2020 Convertible Notes was $751,020 and $806,722, respectively. The Company recorded interest expense of $71,697 and $99,395 during the years ended December 31, 2021 and 2020, respectively. The cumulative interest accrued on these notes as of December 31, 2021 and 2020 was $708,392 and $672,938, respectively.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 11 — Long-Term Debt and Related Party Notes Payable
Long-term debt as of December 31 consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
|  Decathlon Loan and Side Loan Agreements<sup>(1)</sup> | $1550000 | $1547510 |
|  EIDL Loan | 2000000 | 500000 |
|  Mountain BizWorks Loan | 248804 | 249969 |
|  PPP Loan | 973900 | 973900 |
|  Amex Business Loan |  | 9320 |
|  Total long-term debt | 4772704 | 3280699 |
|  Less: current portion of long-term debt | (1835728) | (2318672) |
|  Total long-term debt, net of current portion and discount on debt | $2936976 | $962027 |

---

____________

(1) Net of unamortized discount on debt of $0 and $2,490, respectively.

Future maturities of long-term debt are as follows:

---

| | |
|:---|:---|
|  **Years Ending December 31,** | |
| 2022 | $1835728 |
| 2023 | 297181 |
| 2024 | 302437 |
| 2025 | 307854 |
| 2026 | 93682 |
|  Thereafter | 1935822 |
|  Total | $4772704 |

---

*Decathlon Loan and Side Letter Agreements*

In July 2015, the Company entered into a note payable agreement with Decathlon Alpha II, L.P. ("Decathlon") with total proceeds of $1,250,000. Monthly principal payments are calculated by taking the applicable revenue percentage and multiplying it by the revenue from the previous month. The applicable revenue percentage as defined in the agreement is 1%. Interest on the outstanding balance accrues monthly at a rate based on an internal rate of return of 23.75%. The Company recorded accrued interest in the amounts of $1,789,400 and $1,931,150 as of December 31, 2021 and 2020, respectively. The note is secured by substantially all assets of the Company.

In connection with the Decathlon Note, the Company issued detachable warrants with an exercise price of $0.10 per share for the right to purchase, for a nominal amount, a 1.43% interest in the Company. At December 31, 2021 and December 31, 2020, there were 2,766 and 2,098 warrants outstanding based on the buyout percentage, respectively. The Company recorded a debt discount of $12,973 which is amortized to interest expense using the effective interest method. During the years ended December 31, 2021 and 2020, the Company amortized $2,490 and $3,191 of the debt discount, respectively. As noted in the table above, the unamortized discount debt discount at December 31, 2021 and 2020 was $0 and $2,490, respectively. Refer to Note 12 — Warrants for more information on the detachable warrants.

Concurrently with the execution of the note payable agreement with Decathlon, the Company entered into a side letter agreement ("Side Letter") with two stockholders. Under the terms of the Side Letter, the stockholders agreed to provide the Company with an advance of $300,000 under the same terms and conditions contained in note payable agreement with Decathlon. The total balance on the Side Letter was $300,000 as of December 31, 2021 and 2020. The Company recorded accrued interest in the amounts of $410,480 and $321,659 as of December 31, 2021 and 2020, respectively.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 11 — Long-Term Debt and Related Party Notes Payable (cont.)
*Economic Injury Disaster Loan (EIDL)*

In June 2020, the Company entered into a note agreement with the Small Business Administration. The note agreement is a secured disaster loan of $500,000 which require monthly payments of $2,359 consisting of principal and interest at 3.75% through June 2050 when all remaining principal and interest is due and payable. Monthly payments were deferred until June 2021. The balance on this loan was $500,000 as of December 31, 2020. The Company recorded accrued interest in the amount of $10,156 as of December 31, 2020.

In 2021, the note was amended. The amendment increased the secured disaster loan to $2,000,000. Monthly payments were deferred until June 2022. The balance on this loan was $2,000,000 as of December 31, 2021. The Small Business Administration loan is collateralized by substantially all Company assets. The Company recorded accrued interest in the amount of $57,031 as of December 31, 2021.

*Mountain BizWorks Loan*

In October 2020, the Company entered into a note agreement with Mountain BizWorks for a loan of $250,000 which requires monthly payments of $3,098 consisting of principal and interest at .25% through June 2022 at which time the rate will increase to 5.5% and will be fixed through November 2030 when all remaining principal and interest is due and payable. Monthly payments are deferred until June 2022. The balance on this loan was $248,804 and $249,969 as of December 31, 2021, and 2020, respectively. This loan is collateralized by substantially all Company assets. The Company recorded accrued interest in the amounts of $727 and $78 as of December 31, 2021 and 2020, respectively.

*Paycheck Protection Program*

In 2020, the Company received $973,900 in aggregate loan proceeds (the "PPP Loan") from Aquesta Bank (the "Lender") pursuant to the Paycheck Protection Program ("PPP") under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The PPP Loan is evidenced by a Promissory Note (the "Note"), by and between the Company and the Lender. Subject to the terms of the Note, the PPP Loan bears interest at a fixed rate of one percent (1.0%) per annum. Under the terms of the Note, payments of principal and interest are deferred for six months from the origination date. Following the deferral period, the Company will be required to make payments of principal plus interest accrued under the PPP Loan to the Lender in monthly installments based upon an amortization schedule to be determined by the Lender on the principal balance of the Note outstanding following the deferral period and taking into consideration any portion of the PPP Loan that is forgiven prior to that time. The PPP Loan is unsecured and guaranteed by the U.S. Small Business Administration.

The Company's PPP Loan application for forgiveness was approved and official notice received in 2021 and a gain on forgiveness of debt was recognized in the amount of $973,900. As of December 31, 2021 and 2020, the principal balance on this PPP Loan was $0 and $973,900, respectively.

The Small Business Administration ("SBA") reserves the right to audit the PPP loans after forgiveness is granted in accordance with the CARES Act. Borrowers are required to maintain the PPP loan documentation for six years after the PPP loan was forgiven and to provide that documentation to the SBA upon request. While the Company believes that it is a qualified business and that it has met the eligibility requirements of the PPP loans, and believes that it has used the loan proceeds only for expenses which may be paid using proceeds from the PPP loans, no assurance can be provided that any potential SBA audit will verify the amounts forgiven, in whole or in part, and the Company could be required to repay all or part of the forgiven amount.

In January 2021, the Company entered into a second note agreement with a financial institution for $973,900 which was issued in accordance with the PPP established by the CARES Act and implemented and administered by the Small Business Administration. Any portion not forgiven will be due in monthly installments of principal and interest at 1% per annum beginning in November 2021 and continuing through January 2026. The Company has accounted for the PPP Loan in the same manner as it has for its other loan agreements. The Company's PPP Loan application for forgiveness was approved in 2022. As of December 31, 2021, the principal balance on this PPP Loan is $973,900. The Company recorded accrued interest in the amounts of $1,596 and $0 as of December 31, 2021 and 2020, respectively, on this PPP loan.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 11 — Long-Term Debt and Related Party Notes Payable (cont.)
At December 31, 2021, and 2020, the Company had the following related party notes payable:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
|  The Company has an unsecured, non-convertible note payable with the Company's Chief Executive Officer. The note payable does not have a stated maturity date and is payable on demand. Interest accrues on the outstanding principal amount at a rate of 6% per annum. During the years ended December 31, 2021 and 2020, the Company recorded interest expense of $38,305 and $38,597, respectively. As of December 31, 2021 and 2020, the Company recorded accrued interest of $332,047 and $294,012, respectively, which is included in accrued interest liability. The Company made cash payments on the note of $104,000 and $0 during the years ended December 31, 2021 and 2020. | $264605 | $368605 |
|  The Company has an unsecured, non-convertible note payable with a stockholder for total proceeds of $100,000. The note payable is noninterest bearing, does not have a stated maturity date, and is payable on demand. The Company issued warrants in connection with the note payable. The balance of the note is shown net of an unamortized discount of $0 and $40,218 as of December 31, 2021 and 2020. Refer to Note 12 – Warrants for additional details. | 137379 | 76510 |
|  The Company has an unsecured, non-convertible note payable with a stockholder for total proceeds of $200,000. The note payable does not have a stated maturity date and is payable on demand. Interest accrues on the outstanding principal amount at a rate of 6% per annum. During the years ended December 31, 2021 and 2020, the Company recorded interest expense of $0. As of December 31, 2021 and 2020, the Company recorded accrued interest of $1,633 and $0, respectively. | 200000 |  |
|  Total related party notes payable | $601984 | $445115 |

---

#### Note 12 — Warrants
A summary of warrant activity during the years ended December 31, 2021 and 2020 is as follows:

---

| | |
|:---|:---|
|  | **Number of<br>Warrants** |
|  Balance at December 31, 2019 | 3519 |
| &nbsp;&nbsp;&nbsp; Issued | 180 |
| &nbsp;&nbsp;&nbsp; Exercised |  |
|  Balance at December 31, 2020 | 3699 |
| &nbsp;&nbsp;&nbsp; Issued | 848 |
| &nbsp;&nbsp;&nbsp; Exercised | (930) |
| &nbsp;&nbsp;&nbsp; Cancelled | (458) |
|  Balance at December 31, 2021 | 3159 |

---

#### Consulting Warrants
In August 2012 and June 2016, the Company entered into a consulting agreement with Scale Finance, LLC. As part of the consulting agreement, the Company issued warrants to purchase 333 shares of Series A Preferred Stock at an exercise price of $60 per share and 1,058 shares of Series B Preferred Stock at an exercise price of $84.40 per share (collectively, the "consulting warrants"). The consulting warrants expire on August 15, 2022. As the Series A and Series B Preferred Stock is redeemable at the option of the holder and is considered temporary equity, the Company

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 12 — Warrants (cont.)
accounts for these warrants as liabilities in accordance with ASC 480, which is carried on the balance sheet at fair value with any changes in its fair value recognized in the statements of operations. At December 31, 2020, all of the consulting warrants remained outstanding.

In May 2021, the Company and Scale Finance, LLC terminated the consulting agreements with Scale Finance. As part of the termination, Scale Finance LLC exercised 600 warrants for 600 shares of Series B Preferred Stock and the Company paid an outstanding fee for services of $2,695. The remaining 458 consulting warrants for Series B Preferred Stock were cancelled. At December 31, 2021, 333 Series A warrants remained outstanding.

#### Stockholder Warrants
In October 2015, the Company executed an agreement in conjunction with a note payable with one of its stockholders for warrants ("stockholder warrants") to purchase 480 shares of Series B Preferred Stock and an additional 40 shares for each full month that the agreement is valid after October 28, 2017 until the expiration date of October 28, 2022. In October 2019, the stockholder exercised all of the outstanding warrants for 1,440 shares of Series B Preferred Stock. At that time, the agreement was amended, and the Company agreed to issue 15 additional warrants for each full month (or 180 warrants per year) that the loan remains outstanding after October 28, 2019 and before October 29, 2022, plus an additional 40 warrants for each full month the loan remains outstanding after October 29, 2022. In September 2021, the stockholder exercised additional warrants for 330 shares of Series B Preferred Stock. The exercise price of the warrants is $0.01 per share. While the warrants are outstanding, the holder may exercise the warrants by payment to the Company of an amount equal to the aggregate exercise price of the number of shares being purchased or through a cashless exercise. As the Series B Preferred Stock is redeemable at the option of the holder and is considered temporary equity, the Company accounts for these warrants as liabilities in accordance with ASC 480, which is carried on the balance sheet at fair value with any changes in its fair value recognized in the statements of operations. At December 31, 2021 and December 31, 2020, there were 60 and 210 warrants outstanding, respectively.

#### Decathlon Warrants
In July 2015, in connection with the note payable agreement with Decathlon and stockholders, as described in Note 11, the Company executed an agreement with Decathlon and the stockholders for warrants (collectively, the "Decathlon Warrants") to purchase shares of the Company's common stock for an exercise price of $0.10 per share. The warrants expire at various dates ending no later than July 15, 2025.

The holder of the warrant will have the right to receive a number of common stock that will result in the holder receiving an amount equal to the buyout percentage of the gross proceeds from a change of control plus the exercise price. The Warrant Agreement gave Decathlon the right to 0.40% and each stockholder the right to 0.08% of the gross proceeds of any Company change of control transaction, as of the July 2015 execution date. In November 2015, the amendment with Decathlon increased the buyout percentage for Decathlon to 0.90%. In March 2021, the Company executed an agreement with Decathlon and the stockholders to issue additional warrants that increased the total buyout percentage equal to 1.089% in total and resulted in the issuance of an additional 668 Decathlon warrants. As the Decathlon warrants constitute an obligation to deliver a variable number of shares, the Company accounts for these warrants as liabilities in accordance with ASC 480, which is carried on the balance sheet at fair value with any changes in its fair value recognized in the statements of operations. At December 31, 2021 and December 31, 2020, there were 2,766 and 2,098 warrants outstanding, respectively.

#### Convertible Notes Warrants
As described in Note 10, during November 2021, T1V executed an offering of an aggregate $1,650,250 of convertible notes and detachable warrants ("Convertible Notes Warrants") with multiple investors. The warrants shall be exercisable for common stock at any time on or before November 5, 2026. The number of shares of common stock initially purchasable under the warrants shall be equal to a variable number of shares, and the warrant exercise price shall be subject to adjustment from time to time. Upon each adjustment of the exercise price, the holder of the warrant shall thereafter be entitled to purchase the number of shares obtained by multiplying the exercise price in effect immediately

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 12 — Warrants (cont.)
prior to such adjustment by the number of shares purchasable immediately prior to the adjustment and dividing the product by the exercise price resulting from the adjustment. The initial exercise price shall be equal to the price per share in the Company's initial public offering. As the Convertible Notes Warrants constitute an obligation to deliver a variable number of shares, the Company accounts for these warrants as liabilities in accordance with ASC 480, which is carried on the balance sheet at fair value with any changes in its fair value recognized in the statements of operations.

The following is a reconciliation of the fair values for the warrant liability outstanding during years ended December 31, 2021 and 2020, which are measured at fair value and categorized within Level 3 of the fair value hierarchy:

---

| | |
|:---|:---|
|  | **Fair Value** |
|  Warrant liability as of December 31, 2019 | $386548 |
| &nbsp;&nbsp;&nbsp; Decrease in fair value | (221933) |
|  Warrant liability as of December 31, 2020 | $164615 |
| &nbsp;&nbsp;&nbsp; Liability at issuance | 863404 |
| &nbsp;&nbsp;&nbsp; Exercise of warrants | (13314) |
| &nbsp;&nbsp;&nbsp; Decrease in fair value | (34273) |
|  Warrant liability as of December 31, 2021 | $980432 |

---

#### Note 13 — Revenue Recognition
Disaggregated information for the Company's revenue is presented below by revenue stream:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2021** | **2020** |
|  Project Revenue | $6567600 | $5590054 |
|  License Agreements | 2592215 | 2745864 |
|  Total Revenue | $9159815 | $8335918 |

---

*Revenue by Geographic Region*

Revenues by geographic region are as follows for the years ended:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2021** | **2020** |
|  Domestic | $8057880 | $7018579 |
|  Foreign | 1101935 | 1317339 |
|  Total Revenue | $9159815 | $8335918 |

---

*Deferred Revenue*

Deferred revenue represents amounts billed to clients in excess of revenue recognized to date. These liabilities are held within deferred revenue on the balance sheet. Deferred revenue is as follows for the years ended:

---

| | | | |
|:---|:---|:---|:---|
|  | **December 31,** | **December 31,** | **December 31,** |
|  | **2021** | **2020** | **2019** |
|  Beginning balance of deferred revenue | $4178794 | $3580656 | $4349651 |
|  Revenue deferred | 8927234 | 8775534 | 11285031 |
|  Revenue recognized | (9214358) | (8177396) | (11193615) |
|  Total deferred revenue | $3891670 | $4178794 | $4441068 |
|  Less: deferred revenue, current portion | 2316573 | 2245817 | 2097145 |
|  Less: unearned revenue | 468615 | 621406 | 808778 |
|  Deferred revenue, net of current portion | $1106482 | $1311571 | $1535145 |

---

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 13 — Revenue Recognition (cont.)
*Unbilled Accounts Receivable*

An unbilled accounts receivable represents a situation in which revenue recognized within the related performance obligation exceeds the value of billings to date. Unbilled accounts receivables are typically incurred in relation to project revenues for developed hardware and software, in which revenues are recognized using an input measure of total costs incurred divided by total costs expected to be incurred. In certain situations, revenue recognized may exceed the amount expected to be billed and collected from the customer, generating an unbilled accounts receivable for that customer. Unbilled accounts receivable are classified as current based on the remaining time between the date of the consolidated balance sheets and the anticipated due date of the underlying receivables, and were $491,946, $47,241, and $166,253 as of December 31, 2021, 2020, and 2019, respectively.

*Costs Capitalized to Obtain Revenue Contracts*

The Company capitalizes the incremental costs of obtaining revenue contracts. The capitalized amounts consist solely of sales commissions paid to the Company's sales team related to new contracts. These costs are capitalized and included in prepaid expense and other current assets and are amortized on a straight-line basis over a period of 4 years, which reflects the average customer life. In arriving at this average period of benefit, the Company evaluated both qualitative and quantitative factors which included the estimated life cycles of its contracts and customer attrition. Costs to obtain revenue contracts were $83,192, and $99,945, and $161,212 as of December 31, 2021 2020, and 2019 respectively. During the years ended December 31, 2021, 2020, and 2019 the Company capitalized $40,925, $0, and $58,055, respectively, of cost to obtain revenue contracts. Amortization expense for the years ended December 31, 2021, 2020, and 2019 was $57,678, $61,267, and $47,887, respectively. There were no impairments of costs to obtain revenue contracts for the years ended December 31, 2021 and 2020.

#### Note 14 — Other (Income) Expense
Other income consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2021** | **2020** |
|  PPP loan forgiveness | $(973900) | $— |
|  Employee retention credit | (1199098) | (295769) |
|  Loss on extinguishment of convertible notes |  | 1370973 |
|  Convertible note change in fair value | 689864 | (818384) |
|  Warrant liability change in fair value | (34273) | (221933) |
|  Other income | (19334) | (10143) |
|  Total other (income) expense | $(1536741) | $24744 |

---

#### Note 15 — Capital Stock
As of December 31, 2021, the Company has been authorized to issue 442,712 shares of stock at a par value of $0.001 per share, consisting of 300,000 shares of common stock and 142,712 shares of preferred stock.

Of the 142,712 authorized shares of preferred stock, 940 shares are designated as Series A-1 Preferred Stock, 17,036 shares are designated as Series A-2 Preferred Stock, 20,442 shares are designated as Series A-3 Preferred Stock, 18,893 shares are designated as Series A-4 Preferred Stock, 7,179 shares are designated as Series A-5 Preferred Stock, and 78,222 shares are designated as Series B Preferred Stock.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 15 — Capital Stock (cont.)

#### Common Stock
*Dividend Rights*

Holders of the Company's common stock are entitled to receive dividends, if any, as may be paid, set aside, or declared from time to time by the Company ratably with shares of the Company's preferred stock, subject to preferences that may be applicable to any then outstanding preferred stock and limitations under Delaware law. The Company has not paid, set aside, or declared any dividends in respect of common stock for the years ended December 31, 2021 and 2020.

*Voting Rights*

Each holder of the Company's common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders.

*Liquidation*

In the event of the Company's liquidation, dissolution or winding up ("Liquidation Event"), holders of the Company's common stock will be entitled to share ratably with shares of the Company's preferred stock in the net assets legally available for distribution to stockholders after the payment of all of the Company's debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then outstanding shares of preferred stock.

*Rights and Preferences*

Holders of the Company's common stock have no preemptive, conversion, subscription or other rights and there are no redemption or sinking fund provisions applicable to the Company's common stock. The rights, preferences and privileges of the holders of the Company's common stock are subject to and may be adversely affected by, the rights of the holders of shares of any series of the Company's preferred stock that the Company may designate in the future.

#### Series A and Series B Preferred Stock
All classes of preferred stock are contingently redeemable by the holders upon events that are outside the control of the Company into a per share price equal to the applicable original issuance price plus accumulated and undeclared dividends (see below for further discussion of dividends). As such, the preferred stock is classified outside of permanent equity.

The liquidation preference for the redeemable convertible preferred stock as of December 31, 2021 and 2020 is as follows:

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
|  Series A-1 | $68456 | $64581 |
|  Series A-2 | 1033894 | 975372 |
|  Series A-3 | 1298187 | 1224705 |
|  Series A-4 | 1682770 | 1587519 |
|  Series A-5 | 710408 | 670196 |
|  Series B | 4955305 | 4589400 |
|  Total | $9749020 | $9111773 |

---

*Dividend Rights*

Holders of Series B Preferred Stock, in preference to the holders of Series A Preferred Stock and common stock, will be entitled to receive, upon the liquidation, dissolution, or winding up of the Corporation or a Deemed Liquidation Event, cumulative dividends at the rate of six percent (6%) of the Series B Original Issue Price compounded per annum on each outstanding share of Series B Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series B Preferred Stock).

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 15 — Capital Stock (cont.)
Holders of each sub-series of Series A Preferred Stock, in preference to the holders of common stock, will be entitled to receive, upon the liquidation, dissolution, or winding up of the Corporation or a Deemed Liquidation Event, cumulative dividends at the rate of six percent (6%) of the applicable Series A Original Issue Price compounded per annum on each outstanding share of Series A Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A Preferred Stock).

Holders of the Company's preferred stock are entitled to receive dividends, if any, as may be paid, set aside, or declared from time to time by the Company ratably with shares of the Company's common stock based on the number of shares held by each such holder, treating all securities as if they had been converted to common stock. The Company has not paid, set aside, or declared any dividends in respect of preferred stock for the years ended December 31, 2021 and 2020.

*Redemption*

The Series A and Series B Preferred Stock are not mandatorily redeemable but may be redeemed upon a Liquidation Event or Deemed Liquidation Event. The holders of shares of Series B Preferred Stock will be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, with equal priority and on a pari passu basis, before any payment will be made to the holders of Series A Preferred Stock or the holders of common stock, an amount per share equal to the Series B Original Issue Price, plus any dividends declared but unpaid. If upon any such Liquidation Event or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders are insufficient to pay the holders of shares of Series B Preferred Stock the full amount to which they are entitled, then the holders of shares of Series B Preferred Stock will share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable with respect of the shares held by them upon such distribution if all amounts payable with respect to such shares were paid in full.

If, after the payment in full of the Series B Preferred Stock liquidation preference, any assets of the Corporation remain, then in the event of a Liquidation Event or Deemed Liquidation Event the holders of shares of each sub-series of Series A Preferred Stock then outstanding will be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, with equal priority and on a pari passu basis, before any payment will be made to the holders of common stock, an amount per share equal to the applicable Series A Original Issue Price, plus any dividends declared but unpaid or such an amount per share that would have been payable has all shares of such sub-series of Series A Preferred Stock been converted into common stock immediately prior to such Liquidation Event or Deemed Liquidation Event. If upon any such Liquidation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders are insufficient to pay the holders of shares of Series A Preferred Stock the full amount to which they are entitled, then the holders of shares of Series A Preferred Stock will share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable with respect of the shares held by them upon such distribution if all amounts payable with respect to such shares were paid in full. At December 31, 2021, the shares of Preferred Stock were not redeemable and the likelihood of an occurrence of a Deemed Liquidation Event was not deemed to be probable.

*Accretion of Redeemable Convertible Preferred Stock*

As all classes of the Company's redeemable convertible preferred stock are contingently redeemable by the holders upon events that are outside the control of the Company, the carrying value of the Series A and Series B redeemable convertible preferred stock is adjusted to maximum redemption amount each period. Increases to the carrying value of redeemable convertible preferred stock is recognized each period as a charge against additional paid-in capital or, in the absence of additional paid-in capital, by charges against accumulated deficit.

For the years ended December 31, 2021 and 2020, the accretion of the Series A redeemable convertible preferred stock was $271,342 and $256,664.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 15 — Capital Stock (cont.)
For the years ended December 31, 2021 and 2020, the accretion of the Series B redeemable convertible preferred stock was $276,690 and $260,469.

*Voting Rights*

Holders of record of the shares of Series A Preferred Stock, exclusively and as a separate class, have the right to elect two directors of the Corporation. Holders of record of the Series B Preferred Stock, exclusively and as a separate class, have the right to elect two directors of the Corporation. Any Series A Director seat or Series B Director seat shall be considered vacant until the stockholders entitled to elect a person to fill such directorship vote exclusively and as a separate class.

On all other mattes, each holder of Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of common stock into which the shares of Preferred Stock held by such holder are convertible as of the record date, voting as a single class with holders of common stock.

*Conversion Rights*

Each share of Preferred Stock is convertible, at the option of the holder, into such number of fully paid and nonassessable shares of common stock as is determined by dividing (a) in the case of the Series A Preferred Stock, the applicable Series A Original Issue Price by the applicable Series A Conversion Price in effect at the time of conversion, and (b) in the case of the Series B Preferred Stock, the Series B Original Issue Price by the Series B Conversion Price in effect at the time of conversion. The "Series A Conversion Price" shall initially be equal to $44.15 for each share of Series A-1 Preferred Stock, $36.79 for each share of Series A-2 Preferred Stock, $38.50 for each share of Series A-3 Preferred Stock, $54.00 for each share of Series A-4 Preferred Stock, and $60.00 for each share of Series A-5 Preferred Stock. The "Series B Conversion Price" shall be initially equal to $50.67 for each share of Series B Preferred Stock.

Upon either the closing of (a) the sale of shares of common stock to the public at a price of at least four times the Series B Original Issuance Price or (b) the date and time, or the occurrence of an event, specified by vote or written consent of the majority of Series B Preferred Stockholders (the time or such closing or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the "Mandatory Conversion Time"), all outstanding shares of Preferred Stock shall automatically be converted into shares of common stock at the then effective conversion rate determined by dividing (a) in the case of the Series A Preferred Stock, the applicable Series A Original Issue Price by the applicable Series A Conversion Price in effect at the time of conversion, and (b) in the case of the Series B Preferred Stock, the Series B Original Issue Price by the Series B Conversion Price in effect at the time of conversion.

#### Note 16 — Stock-Based Compensation
On January 25, 2014, the Company established an Incentive Stock Option Plan ("the 2014 Plan") which provides for the issuance of up to 200,000 shares of the Company's common stock. Under the Plan, the Company has issued restricted stock options to key employees. Stock options that were issued prior to December 31, 2017 were issued with an exercise price of $7.90 and stock options issued between December 31, 2017 and April 26, 2022 were issued with an exercise price of $6.00. All stock options vest over four years on a straight-line basis and expire no later than ten years from the date of grant.

On August 27, 2019, the Company adopted its 2019 Stock Incentive Plan (the "2019 Plan"). The 2019 Plan allows for the grant of a variety of equity awards to provide flexibility in implementing equity awards, including incentive stock options, nonstatutory stock options, restricted stock, restricted stock units and other stock-based awards, including stock appreciation awards. Under the Plan, the Company has issued restricted stock options to key employees. Stock options that were issued prior to December 31, 2017 were issued with an exercise price of $7.90 and stock options issued between December 31, 2017 and December 16, 2021 were issued with an exercise price of $6.00. All stock options vest over four years on a straight-line basis and expire no later than ten years from the date of grant.

Stock-based compensation expense of $37,781 and $45,033 for the years ended December 31, 2021 and 2020, respectively, is included in general and administrative expenses on the statements of operations. As of December 31, 2021, there was $112,034 of unrecognized compensation costs related to non-vested share-based compensation arrangements granted to key employees under the Plan. These costs are expected to be recognized over a weighted average period of 2.66 years.

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 16 — Stock-Based Compensation (cont.)
The following table summarizes the assumptions used to estimate the fair value of stock options granted during the year ended December 31, 2021. There were no stock options granted during the year ended December 31, 2020.

---

| | | |
|:---|:---|:---|
|  **Inputs** | **February 25,<br> 2021** | **December 16,<br> 2021** |
|  Risk-free rate | 1.1% | 1.4% |
|  Expected term (in years) | 6.25 | 6.25 |
|  Expected volatility | 70.0% | 70.0% |
|  Expected dividend yield | 0.0% | 0.0% |
|  Weighted average grant date fair value | $4.07 | $15.48 |

---

The risk-free interest rate is based on the rate for a U.S. government security with the same estimated life at the time of the option grant and the stock purchase rights. The expected term of the stock options was estimated using the simplified method. The Company estimated its future stock volatility considering the observed volatility of companies with similar operations. Management believes this is the best estimate of the expected volatility over the expected life of its stock options and stock purchase rights. The estimated dividend yield is based on the Company's history of not paying dividends.

The following table summarizes the stock option activity for the years ended December 31, 2021 and 2020:

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of<br> Shares** | **Weighted Average<br> Exercise Price** | **Weighted Average<br> Remaining Contractual<br> Term in Years** |
|  Outstanding at December 31, 2019 and 2020 | 19480 | 7.09 | 6.01 |
| &nbsp;&nbsp;&nbsp; Granted | 5345 | 6.00 | 9.36 |
| &nbsp;&nbsp;&nbsp; Exercised |  |  |  |
| &nbsp;&nbsp;&nbsp; Forfeited/Cancelled | (1085) | 6.75 |  |
|  Outstanding at December 31, 2021 | 23740 | $6.87 | 5.82 |
|  Options exercisable at December 31, 2021 | 17746 | $7.02 | 4.93 |

---

The intrinsic value of all options outstanding and exercisable is immaterial for all periods presented.

#### Note 17 — Net Loss Per Share
Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares of common stock outstanding does not include any potentially dilutive securities.

Diluted loss per share is based upon the weighted-average number of common shares outstanding during the period plus additional weighted-average of potentially dilutive shares resulting from warrants, stock options, preferred stock, and convertible notes to the extent they are dilutive. For the years ended December 31, 2021, and 2020, all such common stock equivalents have been excluded from diluted net loss per share as the effect to net loss per share would be anti-dilutive.

The following table sets forth the computation of the Company's basic and diluted net loss per share:

---

| | | |
|:---|:---|:---|
|  | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2021** | **2020** |
|  Numerator: |  |  |
|  Net Loss | $(3706833) | $(2550113) |
|  Net Loss Attributable to Common Stockholders | $(3706833) | $(2550113) |
|  Denominator: |  |  |
|  Weighted-Average Number of Shares of Common Stock | 33807 | 33807 |
|  Basic and Diluted Net Loss per Share | $(109.65) | $(75.43) |

---

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 17 — Net Loss Per Share (cont.)
The following table represents the potential shares that were excluded from the computation of weighted-average number of shares of common stock in computing the diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:

---

| | | |
|:---|:---|:---|
|  | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2021** | **2020** |
|  Shares of common stock issuable upon conversion of Series A Preferred Stock<sup>(1)</sup> | 64157 | 64157 |
|  Shares of common stock issuable upon conversion of Series B Preferred Stock<sup>(2)</sup> | 64357 | 62808 |
|  Shares of common stock issuable upon conversion of convertible debt | 69424 | 74030 |
|  Stock options | 23740 | 19480 |
|  Common stock equivalent of warrants upon conversion into common shares<sup>(3)</sup> | 3273 | 4875 |

---

____________

(1) Series A shares are convertible to one share of common stock.

(2) Series B shares are convertible into 1.67 shares of common stock.

(3) The outstanding 333 warrants for Series A shares as of December 31, 2021 and 2020 convert to 333 shares of common stock. The outstanding 105 and 1,268 warrants for Series B shares as of December 31, 2021 and 2020 convert to 174 and 2,111 shares of common stock, respectively. As of December 31, 2021 and 2020, there were 2,766 and 2,098 outstanding warrants for common stock, respectively

#### Note 18 — Income Taxes
For the years ended December 31, 2021, and 2020, the Company incurred taxable losses; therefore, there is no current tax provision. The components of the deferred tax provision are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **December 31, 2021** | **December 31, 2021** | **December 31, 2021** |
|  | **Total** | **Federal** | **State** |
|  Deferred Benefit | $1118096 | $862776 | $255320 |
|  Valuation Allowance | (1118096) | (862776) | (255320) |
|  | $— | $— | $— |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **December 31, 2020** | **December 31, 2020** | **December 31, 2020** |
|  | **Total** | **Federal** | **State** |
|  Deferred Benefit | $— | $— | $— |
|  Valuation Allowance |  |  |  |
|  | $— | $— | $— |

---

The difference between the 2021 and 2020 effective tax rate and the federal statutory rate of 21% is due to the establishment of a full valuation allowance for the Company's net deferred income tax assets as of December 31, 2021 and 2020.

The Company's deferred income tax assets consist of the following at each December 31,

---

| | | |
|:---|:---|:---|
|  | **Year Ended <br>December 31,** | **Year Ended <br>December 31,** |
|  | **2021** | **2020** |
|  Depreciation and amortization | $(262199) | $(223554) |
|  Federal R&D and other Credit | 78207 | 78207 |
|  Charitable contribution | 610 |  |
|  Deferred Revenue | 254214 | 359324 |
|  Tax loss carry forwards | 2290836 | 2241608 |
| &nbsp;&nbsp;&nbsp; Net deferred tax asset, before valuation allowance | 2361668 | 2455585 |
|  Less: valuation allowance | (2361668) | (2455585) |
| &nbsp;&nbsp;&nbsp; Net deferred tax asset, after valuation allowance | $— | $— |

---

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 18 — Income Taxes (cont.)
The valuation allowance was recorded against the net deferred tax assets of the Company as management has determined that it is more likely than not that such assets will not be utilized. The Company's deferred tax assets are comprised of federal and state tax loss carry forwards. Management is uncertain, if or when, these carry forwards will be utilized therefore they have been fully reserved for.

*Reconciliation of Unrecognized Tax Benefits*

---

| | | |
|:---|:---|:---|
|  | **2021** | **2020** |
|  Balance as of Beginning of Year | 1,364,463 | 1,019,900 |
|  Interest | 743,890 | 344,563 |
|  Balance End of Year | 2,108,353 | 1,364,463 |

---

In accordance with ASC 740, we reduced deferred tax assets related to net operating losses for tax uncertainties. Potential interest or penalties associated with these reductions would not materially impact the Company's financials because of significant net operating losses

This uncertain tax benefit is related to interest on the Company's notes payable and convertible notes payable. The Company has engaged a tax specialist to analyze the deductibility of these amounts. At the date of issuance of these financial statements, the Company does not have enough information to conclude the amounts are deductible using the thresholds provided in ASC 740.

As of December 31, 2021, we had $10.5 million of federal and state net operating loss carryforwards available to reduce future taxable income, which will begin to expire in 2034 for federal and 2028 for state tax purposes. It is more likely than not that we will not generate taxable income in time to use these net operating loss carryforwards before their expiration or at all. As a result, a full valuation allowance was recorded as of December 31, 2020 and December 31, 2021. Under federal income tax law, federal net operating losses incurred in 2018 and in future years may be carried forward indefinitely, but the deductibility of such federal net operating losses is limited. In addition, the federal and state net operating loss carryforwards may be subject to significant limitations under Section 382 and Section 383 of the Internal Revenue Code of 1986, as amended (the "Code"), and similar provisions under state law. The Tax Reform Act of 1986 contains provisions that limit the federal net operating loss carryforwards that may be used in any given year in the event of special occurrences, including significant ownership changes. If these specified events occur or have occurred, we may lose some or all of the tax benefits of these carryforwards. We may also experience ownership changes in the future as a result of subsequent shifts in our stock ownership, some of which may be outside of our control. If an ownership change occurs and our ability to use our net operating loss carryforwards is materially limited, it would harm our business by effectively increasing our future tax obligations.

#### Note 19 — Risks and Uncertainties

#### COVID-19
The World Health Organization ("WHO") declared COVID-19 a global pandemic in March 2020. Government-mandated lockdowns and private sector precautionary measures resulted in increased demand for collaboration platforms, such as ours. Despite widespread vaccination efforts across the globe, COVID-19 continues to have an adverse impact on businesses, schools, colleges, and universities. As a result, organizations continue to explore increased usage of remote collaboration platforms. The impact of existing variants and any future variants cannot be predicted at this time, and could depend on numerous factors, including vaccination rates among the population, the effectiveness of COVID-19 vaccines against these variants, the risk appetite of the private sector, and the response by governmental bodies and regulators.

The Company has taken a number of measures to monitor and mitigate the effects of COVID-19, such as safety and health measures for our employees (such as social distancing and working from home).

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 19 — Risks and Uncertainties (cont.)
During fiscal year 2020 and the first half of fiscal year 2021, COVID-19 had a significant impact on our business, since most of our sales have been for in-room based meetings. During this time, many businesses had no employees coming to offices, most universities were entirely remote, and elective surgeries at many hospitals were halted. During this period, the demand for visual collaboration solutions was focused on all-remote solutions. Starting in mid-2021, as employees started coming back to work and students coming back to universities, the focus for demand for visual collaboration solutions shifted to hybrid solutions, which is T1V's specialty: solutions that work for in-room and remote. Since this time our sales have increased. There is uncertainty that the increased usage of remote collaboration platforms will be sustained or that new or existing users will continue to utilize our service after the COVID-19 pandemic has tapered globally. Businesses and educational institutions may increase required in-person experiences as vaccines become more accessible, which may result in a decline of our active users.

#### Note 20 — Subsequent Events
Events and transactions occurring after December 31, 2021, have been evaluated to determine proper recognition and disclosure in the financial statements. Subsequent events and transactions were evaluated through October 10, 2022, which represents the date the financial statements were available to be issued.

#### PPP Loan Forgiveness
As discussed in Note 11, during January 2022, the Company applied for loan forgiveness and received confirmation of its PPP Note forgiveness recognizing $973,900 as other income as the funds granted were used for payroll, rent, and utility costs related to sales efforts.

#### Amendments to Note Payable
As discussed in Note 10, during March 2022, the Company agreed to amend the original Note Purchase Agreement entered into on February 5, 2020 in order to change the maturity date to December 31, 2022.

In April 2022, the Company agreed to amend the note payable with Decathlon, as described above in Note 11, in order to extend the maturity date to June 30, 2023. The Company issued additional detachable warrants for the right to purchase, for a nominal amount, a nominal interest in the Company. As part of the amendment, the applicable revenue percentage shall (i) not be applicable between April 1, 2022 and July 31, 2022 and (ii) be 3.0% between August 1, 2022 and June 30, 2023. If the Company does not close an initial public offering on or before December 31, 2022 and any of the obligations remain unsatisfied, an amount equal to $250,000 shall be added to the obligations and shall be due and payable upon the maturity date.

#### Stock-Based Compensation
In April 2022, the Company issued an additional 6,900 common stock options, which is described in Note 16, to key employees. The stock options were issued with an exercise price of $76.70. The stock options vest over four years on a straight-line basis and expire no later than ten years from the date of grant.

#### Convertible Notes
In January 2022, the Company executed two convertible promissory notes with multiple lenders with an aggregate principal amount of $172,500. In February 2022, the Company executed an additional convertible promissory notes with a lender with a principal amount of $57,500.

Subsequently, in July 2022, the Company executed convertible promissory notes with multiple investors with a total principal amount of $414,000 (collectively, "2022 Convertible Notes").

The outstanding principal under the 2022 Convertible Notes will accrue interest at a rate of 10%. The investors may elect to convert all of the outstanding principal and accrued but unpaid interest due under the 2022 Convertible Notes into shares of common stock two months from the date of issuance. The Conversion Price per share for the shares of

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO FINANCIAL STATEMENTS

#### Note 20 — Subsequent Events (cont.)
common stock shall equal (i) for 25% of the amount of principal and interest: a $17,500,000 valuation and (ii) for the remaining 75% of the amount of principal and interest: a 20% discount to the Company's initial public offering price. At any time after two months from the date of issuance, or at the sole discretion of the Company's Board of Directors, all of the outstanding principal and accrued but unpaid interest due under this 2022 Convertible Notes shall automatically convert to common stock at the Conversion Price immediately prior to the occurrence of any of the following (i) a merger in which the shareholders of the Company prior to the merger hold less than 50% of the voting power of the capital stock of the surviving corporation after such merger, a sale of all of the assets of the Company or a transaction or series of transactions in which 50% or more of the voting power of the capital stock of the Company is transferred; or (ii) the closing of an initial public offering of the Company's equity securities. The maturity date of the 2022 Convertible Notes is January 2023, February 2023, and July 2023.

In connection with the 2022 Convertible Notes, the Company issued Convertible Notes Warrants that are exercisable for common stock at any time on or before five years after the issuance date of the notes. The number of shares of common stock initially purchasable under the warrants shall be equal to a variable number of shares, and the warrant exercise price shall be subject to adjustment from time to time.

#### Government Grants
In October 2022, the Company received $294,000 in government grants as a result of the impact from the COVID-19 pandemic.

[**Table of Contents**](#TOC001)

#### T1V, INC.<br>CONDENSED BALANCE SHEETS<br> (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **As of** | **As of** |
|  | **September 30, <br>2022** | **December 31, <br>2021** |
|  **Assets** | | |
| &nbsp;&nbsp;&nbsp; Cash | $142928 | $713462 |
| &nbsp;&nbsp;&nbsp; Accounts receivable | 1680951 | 801680 |
| &nbsp;&nbsp;&nbsp; Employee retention credit receivable |  | 295769 |
| &nbsp;&nbsp;&nbsp; Inventory | 427990 | 263459 |
| &nbsp;&nbsp;&nbsp; Unbilled accounts receivable | 532839 | 491946 |
| &nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | 339315 | 240803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total current assets** | **3124023** | **2807119** |
| &nbsp;&nbsp;&nbsp; Property and equipment, net | 364210 | 355148 |
| &nbsp;&nbsp;&nbsp; Right of use assets, net | 420985 | 391429 |
| &nbsp;&nbsp;&nbsp; Intangible assets, net | 1434123 | 1108574 |
| &nbsp;&nbsp;&nbsp; Other assets | 22556 | 22556 |
|  **Total assets** | $**5365897** | $**4684826** |
|  **Liabilities, mezzanine equity and stockholders' deficit** |  |  |
| &nbsp;&nbsp;&nbsp; Line of credit | $42320 | $49984 |
| &nbsp;&nbsp;&nbsp; Accounts payable | 1472608 | 907304 |
| &nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities | 1616363 | 1426410 |
| &nbsp;&nbsp;&nbsp; Accrued interest | 3316232 | 3307200 |
| &nbsp;&nbsp;&nbsp; Current portion of deferred revenue | 4707565 | 2785188 |
| &nbsp;&nbsp;&nbsp; Advances under factoring arrangements | 238200 |  |
| &nbsp;&nbsp;&nbsp; Convertible notes payable, current portion | 745391 | 751020 |
| &nbsp;&nbsp;&nbsp; Convertible notes payable at fair value, current portion | 6677312 | 4000478 |
| &nbsp;&nbsp;&nbsp; Current portion of long-term debt, net of discount on debt | 1613917 | 1835728 |
| &nbsp;&nbsp;&nbsp; Related party notes payable | 586288 | 601984 |
| &nbsp;&nbsp;&nbsp; Current portion of operating lease liabilities | 139723 | 128248 |
| &nbsp;&nbsp;&nbsp; Current portion of finance lease liabilities | 33984 | **—** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total current liabilities** | **21189903** | **15793544** |
| &nbsp;&nbsp;&nbsp; Long-term debt, less current portion and net of discount on debt | 2164201 | 2936976 |
| &nbsp;&nbsp;&nbsp; Deferred revenue, less current portion | 1293130 | 1106482 |
| &nbsp;&nbsp;&nbsp; Warrant liability | 1609527 | 980432 |
| &nbsp;&nbsp;&nbsp; Convertible notes payable at fair value, less current portion |  | 1211300 |
| &nbsp;&nbsp;&nbsp; Operating lease liabilities, less current portion | 315121 | 421332 |
| &nbsp;&nbsp;&nbsp; Finance lease liabilities, less current portion | 63479 |  |
|  **Total liabilities** | $**26635361** | $**22450066** |
|  Commitments and contingencies |  |  |
|  **Mezzanine equity** |  |  |
| &nbsp;&nbsp;&nbsp; Series A-1 preferred stock, $0.001 par value; 940 shares designated; 940 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively | $71505 | $68456 |
| &nbsp;&nbsp;&nbsp; Series A-2 preferred stock, $0.001 par value; 17,036 shares designated; 17,036 shares issued <br>and outstanding at September 30, 2022 and December 31, 2021, respectively | 1079950 | 1033894 |
| &nbsp;&nbsp;&nbsp; Series A-3 preferred stock, $0.001 par value; 20,442 shares designated; 20,442 shares issued <br>and outstanding at September 30, 2022 and December 31, 2021, respectively | 1356016 | 1298187 |
| &nbsp;&nbsp;&nbsp; Series A-4 preferred stock, $0.001 par value; 18,893 shares designated; 18,893 shares issued <br>and outstanding at September 30, 2022 and December 31, 2021, respectively | 1757730 | 1682770 |
| &nbsp;&nbsp;&nbsp; Series A-5 preferred stock, $0.001 par value; 7,179 shares designated; 7,179 and 6,846 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively | 762784 | 710408 |
| &nbsp;&nbsp;&nbsp; Series B preferred stock, $0.001 par value; 78,222 shares designated; 38,645 shares issued <br>and outstanding at September 30, 2022 and December 31, 2021, respectively | 5175448 | 4955305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total mezzanine equity** | **10203433** | **9749020** |
|  **Stockholders' deficit** |  |  |
| &nbsp;&nbsp;&nbsp; Common stock, $0.001 par value; 300,000 shares authorized; 33,807 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively |  |  |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital |  |  |
| &nbsp;&nbsp;&nbsp; Accumulated deficit | (31472897) | (27514260) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total stockholders' deficit** | (31472897) | (27514260) |
|  **Total liabilities, mezzanine equity and stockholders' deficit** | $**5365897** | $**4684826** |

---

#### See accompanying Notes to Condensed Financial Statements

[**Table of Contents**](#TOC001)

#### T1V, INC.<br> CONDENSED STATEMENTS OF OPERATIONS<br> (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **For the nine months ended <br>September 30,** | **For the nine months ended <br>September 30,** |
|  | **2022** | **2021** |
|  Revenue |  |  |
| &nbsp;&nbsp;&nbsp; Project revenue | $8974769 | $4377166 |
| &nbsp;&nbsp;&nbsp; License Agreements | 2086954 | 1937663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Revenue | 11061723 | 6314829 |
|  Cost of revenues (exclusive of depreciation and amortization) |  |  |
| &nbsp;&nbsp;&nbsp; Project Revenue | 5127888 | 2688020 |
| &nbsp;&nbsp;&nbsp; License Agreements | 313135 | 246477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total cost of revenue (exclusive of depreciation and amortization) | 5441023 | 2934497 |
|  Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp; Sales and marketing | 171652 | 80558 |
| &nbsp;&nbsp;&nbsp; General and administrative | 7410039 | 5317261 |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization | 311298 | 179231 |
|  **Total operating expenses** | 7892989 | 5577050 |
|  **Operating loss** | (2272289) | (2196718) |
|  Other (income) expense |  |  |
| &nbsp;&nbsp;&nbsp; Interest expense | 1284858 | 967330 |
| &nbsp;&nbsp;&nbsp; Other (income) expense, net | 40618 | (1841121) |
|  **Total other (income) expense, net** | 1325476 | (873791) |
|  (Loss) income before income taxes | (3597765) | (1322927) |
|  Income taxes |  |  |
|  **Net loss** | $(3597765) | $(1322927) |
|  **Net (loss) income per common share** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic and diluted | $(106.42) | $(39.13) |
|  **Weighted average number of common shares outstanding** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic and diluted | 33807 | 33807 |

---

#### See accompanying Notes to Condensed Financial Statements

[**Table of Contents**](#TOC001)

#### T1V, INC.<br> CONDENSED STATEMENTS OF CHANGES IN MEZZANINE EQUITY <br>AND STOCKHOLDERS' DEFICIT<br> (Unaudited)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Redeemable Convertible <br>Series A Preferred Stock** | **Redeemable Convertible <br>Series A Preferred Stock** | **Redeemable Convertible <br>Series B Preferred Stock** | **Redeemable Convertible <br>Series B Preferred Stock** | **Common Stock** | **Common Stock** | **Additional Paid-In-<br>Capital** | **Accumulated<br>Deficit** | **Total** |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Additional Paid-In-<br>Capital** | **Accumulated<br>Deficit** | **Total** |
|  **Balance at December 31, 2021** | 64157 | $4793715 | 38645 | $4955305 | 33807 | $— | $— | $(27514260) | $(27514260) |
|  Net Loss |  |  |  |  |  |  |  | (3597765) | (3597765) |
|  Exercise of warrants | 333 | 20566 |  |  |  |  |  |  |  |
|  Accretion of Series A Preferred Stock |  | 213704 |  |  |  |  |  | (213704) | (213704) |
|  Accretion of Series B Preferred Stock |  |  |  | 220143 |  |  | (72975) | (147168) | (220143) |
|  Stock-based compensation |  |  |  |  |  |  | 72975 |  | 72975 |
|  **Balance at September 30, 2022** | 64490 | $5027985 | 38645 | $5175448 | 33807 | $— | $— | $(31472897) | $(31472897) |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Redeemable Convertible <br>Series A Preferred Stock** | **Redeemable Convertible <br>Series A Preferred Stock** | **Redeemable Convertible <br>Series B Preferred Stock** | **Redeemable Convertible <br>Series B Preferred Stock** | **Common Stock** | **Common Stock** | **Additional <br>Paid-In-<br>Capital** | **Accumulated<br>Deficit** | **Total** |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Additional <br>Paid-In-<br>Capital** | **Accumulated<br>Deficit** | **Total** |
|  **Balance at December 31, 2020** | 64157 | $4522373 | 37715 | $4589400 | 33807 | $— | $— | $(23229603) | $(23229603) |
|  Net Loss |  |  |  |  |  |  |  | (1322927) | (1322927) |
|  Exercise of Series B Preferred Stock Warrants |  |  | 600 | 38044 |  |  |  | (24730) | (24730) |
|  Accretion of Series A Preferred Stock |  | 201452 |  |  |  |  |  | (201452) | (201452) |
|  Accretion of Series B Preferred Stock |  |  |  | 166393 |  |  | (28198) | (138195) | (166393) |
|  Stock-based compensation |  |  |  |  |  |  | 28198 |  | 28198 |
|  **Balance at September 30, 2021** | 64157 | $4723825 | 38315 | $4793837 | 33807 | $— | $— | $(24916907) | $(24916907) |

---

#### See accompanying Notes to Condensed Financial Statements

[**Table of Contents**](#TOC001)

#### T1V, INC.<br> CONDENSED STATEMENTS OF CASH FLOWS<br> (Unaudited)

---

| | | |
|:---|:---|:---|
| | **For the nine months <br>ended September 30,** | **For the nine months <br>ended September 30,** |
| | **2022** | **2021** |
|  **Cash flows from operating activities** |  |  |
| &nbsp;&nbsp;&nbsp; Net (loss) income | $(3597765) | $(1322927) |
| &nbsp;&nbsp;&nbsp; Adjustments to reconcile net (loss) income to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization expense | 311298 | 179231 |
| &nbsp;&nbsp;&nbsp; Right-of-use asset | 67281 | 87383 |
| &nbsp;&nbsp;&nbsp; Stock-based compensation | 72975 | 28198 |
| &nbsp;&nbsp;&nbsp; Change in fair value of convertible note | 821535 | 282442 |
| &nbsp;&nbsp;&nbsp; Change in fair value of warrant liability | 269129 | 47411 |
| &nbsp;&nbsp;&nbsp; Issuance of warrants | 360552 | 12580 |
| &nbsp;&nbsp;&nbsp; Amortization of discount on debt | 11618 | 2490 |
| &nbsp;&nbsp;&nbsp; Amortization of discount on related party notes payable |  | 85908 |
| &nbsp;&nbsp;&nbsp; PPP loan forgiveness | (973900) | (973900) |
| &nbsp;&nbsp;&nbsp; Amortization of original issue discount | 84000 |  |
| &nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable | (879271) | (324580) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee retention credit receivable | 295769 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventory | (164531) | 25108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unbilled accounts receivable | (40893) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | (98512) | (214873) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities | 189953 | (295507) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued interest liability | 9032 | 738206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | 565304 | 258070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred revenue | 2109025 | 239731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease liabilities | (94110) | (110944) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash used in operating activities | (681511) | (1255974) |
|  **Cash flows from investing activities** |  |  |
| &nbsp;&nbsp;&nbsp; Purchases of property and equipment | (97485) | (56199) |
| &nbsp;&nbsp;&nbsp; Payments made for patents | (54800) | (351630) |
| &nbsp;&nbsp;&nbsp; Internal software developed | (493625) | (58393) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash used in investing activities | (645910) | (466222) |
|  **Cash flows from financing activities** |  |  |
| &nbsp;&nbsp;&nbsp; Payments on line of credit, net | (7664) | (44273) |
| &nbsp;&nbsp;&nbsp; Payments on convertible notes payable | (5629) | (30539) |
| &nbsp;&nbsp;&nbsp; Payments on notes payable | (20686) | (11946) |
| &nbsp;&nbsp;&nbsp; Proceeds on notes payable |  | 706 |
| &nbsp;&nbsp;&nbsp; Payments on related party notes payable | (27314) | (69000) |
| &nbsp;&nbsp;&nbsp; Proceeds on convertible notes payable at fair value | 560000 | 400000 |
| &nbsp;&nbsp;&nbsp; Advances from factoring arrangements | 238200 |  |
| &nbsp;&nbsp;&nbsp; Proceeds from PPP loans |  | 973900 |
| &nbsp;&nbsp;&nbsp; Preferred stock issuance from exercise of warrants | 19980 |  |
|  Net cash provided by financing activities | 756887 | 1218848 |
|  **Net decrease in cash** | (570534) | (503348) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash, beginning of period | 713462 | 537200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash, end of period | $142928 | $33852 |
|  **Supplemental cash flow information** |  |  |
|  Cash payments for interest | $734731 | $353644 |
|  Cash payments for income taxes |  |  |
|  **Supplemental disclosure of noncash financing activity** |  |  |
|  Accretion of Series A preferred stock | $213704 | $201452 |
|  Accretion of Series B preferred stock | $220143 | $166393 |
|  Right-of-use assets obtained in exchange for finance lease liabilities | $96837 | $— |

---

#### See accompanying Notes to Condensed Financial Statements

[**Table of Contents**](#TOC001)

#### T1V, INC.

#### NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 1 — Business Description and Significant Accounting Policies

#### Business Description
T1V, Inc. ("T1V" or "we" or "us" or the "Company") was formed as a Delaware corporation in 2008, and the Company's mission is to empower teams to collaborate anytime, anywhere. T1V creates and installs interactive touchscreen experiences through its custom software for its customers throughout the United States and internationally. The markets the Company serves includes, but are not limited to, enterprise, higher education, and medical markets. The Company's collaboration platforms include ThinkHub® collaboration for global teams, T1V Hub™ wireless screen sharing, and the T1V app — all working cohesively to bring teams together for seamless, intuitive working sessions. The Company operates in one segment and therefore segment information is not presented.

#### Basis of Presentation
The accompanying condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification ("ASC") and Accounting Standards Update ("ASU") of the Financial Accounting Standards Board ("FASB").

#### Interim Financial Statements
The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions to Form S-1 and Article 10 of Regulation S-X and, therefore, do not include all of the information and footnote disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation in accordance with GAAP are reflected in the condensed financial statements. All adjustments are of a normal recurring nature, except as otherwise disclosed. The Balance Sheet at December 31, 2021 is derived from the Company's 2021 audited Balance Sheet. The financial statements and notes thereto should be read in conjunction with the financial statements and notes contained in the Company's 2021 audited financial statements. The results of operations for the nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year ending December 31, 2022 or other future periods, because results for interim periods can be disproportionately influenced by various factors, developments and seasonal variations.

#### Note 2 — Liquidity
The Company incurred a net loss of $3,597,765 and $1,322,927 during the nine months ended September 30, 2022 and 2021, respectively. As of September 30, 2022 and December 31, 2021, the Company had a working capital deficiency of approximately $18,065,880 and $12,986,425, respectively. The Company has received funding in the form of periodic capital raises and also plans to raise additional funding in the future through an initial public offering (IPO) to support its capital needs. The Company's ability to continue as a going concern is highly contingent on the ability to either extend the maturity of its existing debt, refinance its existing debt, convert the debt to equity, or raise additional capital.

Management believes that the Company's operating history reflects that it has a track record of being able to extend the maturity date of its outstanding debt as needed, with various prior amendments being executed within 60 days of the maturity date or after the maturity date. The Company is currently evaluating these alternatives to fund its future operations. As described in Note 3, in December 2021, the Company entered into an agreement with Liquid Capital Exchange, Inc. to factor certain accounts receivable with recourse, up to $1,000,000. As of September 30, 2022 the aggregate gross amount factored under this arrangement was $273,477, which resulted in net proceeds of $238,200. In January and February 2022, the Company raised $200,000 in cash through the issuance of convertible notes. In July 2022, the Company raised an additional $360,000 in cash through the issuance of convertible notes.

The Company's capital requirements in the future will continue to depend on numerous factors, including the timing and amount of revenue earned by the Company, the timing of collection of outstanding accounts receivable, the expense to deliver services, and the debt service obligations under the Company's note payable agreements. There can

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 2 — Liquidity (cont.)
be no assurance that, in the event that the Company requires additional financing, such financing will be available at terms acceptable to the Company, if at all. If unable to secure required additional funding, significant delays to the Company's continuing development that is critical to the future operations of the Company could occur. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

#### Note 3 — Accounts Receivable Agreement
In December 2021, the Company entered into an agreement with Liquid Capital Exchange, Inc. ("Liquid Capital" or "the Factor") to factor certain accounts receivable with recourse, up to $1,000,000. Under this agreement, Liquid Capital and the Company agreed to an advance rate of 86% of the face amount of the receivable based on the occurrence of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An account purchased by the Factor is not paid in full within 90 days after the invoice date

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The customer objects to the quality of the goods or services, or the customer refuses to accept or does not receive the goods or services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The customer suspends business, requests an extension of time within which to pay, or files a petition in bankruptcy for liquidation or reorganization

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Factor determines that the account is or has become uncollectible,

There is also an initial factor fee of 1.0% of the face amount of the accounts factored. There are additional fees of .055% for purchased accounts that remain unpaid for up to 30 days and .065% for purchased accounts that remain unpaid for greater than 30 days.

The Factor may require the Company to repurchase the account by either making a payment to the Factor of the amount owed, by providing another account with a face value equal to or exceeding the face value of the unpaid account, or by charging the Company's reserve. As of December 31, 2021, the Company has not sold any receivables to the Factor.

As of September 30, 2022 the aggregate gross amount factored under this arrangement was $273,477, which resulted in net proceeds of $238,200. The cost of factoring is reflected in the accompanying condensed statements of operations as general and administrative expenses was $83,925 for the nine months ended September 30, 2022.

#### Note 4 — Property and Equipment, net
Property and equipment, net consisted of the following as of:

---

| | | | |
|:---|:---|:---|:---|
|  | **September 30, 2022** | **December 31, 2021** | **Estimated <br>Useful Life** |
|  Furniture and fixtures | $310741 | $310741 | 5 to 7 years |
|  Equipment | 819019 | 721534 | 5 to 7 years |
|  Software | 5397 | 5397 | 5 to 7 years |
|  Leasehold improvements | 293767 | 293767 | (\*) |
|  Total property and equipment | $1428924 | $1331439 |  |
|  Accumulated depreciation | (1064714) | (976291) |  |
|  Total Property and Equipment, Net | $364210 | $355148 |  |

---

____________

(\*) — Amortized over the shorter period of the estimated useful life or the lease term.

Related depreciation expense was $88,423 and $77,848 for the nine months ended September 30, 2022, and 2021, respectively.

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 5 — Intangible Assets, Net
The following table presents the components of net intangible assets as of:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **September 30, 2022** | **September 30, 2022** | **September 30, 2022** | **December 31, 2021** | **December 31, 2021** | **December 31, 2021** |
|  | **Gross Carrying Amount** | **Accumulated Amortization** | **Net <br>Carrying Amount** | **Gross Carrying Amount** | **Accumulated Amortization** | **Net <br>Carrying <br>Amount** |
|  Patents issued | $270748 | $(27467) | $243281 | $200776 | $(21071) | $179705 |
|  Internally developed software | 1518710 | (564220) | 954490 | 1025085 | (349663) | 675422 |
|  Trademarks | 6651 | (6477) | 174 | 10217 | (8120) | 2097 |
|  Patents and trademarks pending | 236178 |  | 236178 | 251350 |  | 251350 |
| &nbsp;&nbsp;&nbsp; **Total** | $2032287 | $(598164) | $1434123 | $1487428 | $(378854) | $1108574 |

---

During the nine months ended September 30, 2022 and 2021, no impairment charges were required. Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets, which is three years for internally developed software, and five years for all other intangible assets except patents and trademarks pending, in accordance with ASC Topic 350. Related amortization expense was $222,875 and $101,383 for the nine months ended September 30, 2022, and 2021, respectively. The Company determined the costs of patents and trademarks pending applications are not amortized until the patent is filed. The Company reviews capitalized costs related to patents and trademarks pending each reporting period to assess whether the patent will be successfully filed.

We estimate amortization expense for the next five years and beyond will be as follows:

---

| | |
|:---|:---|
|  **Years Ending December 31,** | **Intangible Assets** |
| 2022 | $77180 |
| 2023 | 299259 |
| 2024 | 235008 |
| 2025 | 44226 |
| 2026 | 13537 |
|  Thereafter | 528735 |
|  Total amortization | $1197945 |

---

#### Note 6 — Fair Value Measurement
The following tables present information about our financial instruments that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of September 30, 2022** | **As of September 30, 2022** | **As of September 30, 2022** | **As of September 30, 2022** |
|  | **Fair Value** | **Level 1** | **Level 2** | **Level 3** |
|  **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Convertible notes | $6677312 |  |  | $6677312 |
| &nbsp;&nbsp;&nbsp; Warrant liability | 1609527 |  |  | 1609527 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2021** | **As of December 31, 2021** | **As of December 31, 2021** | **As of December 31, 2021** |
|  | **Fair Value** | **Level 1** | **Level 2** | **Level 3** |
|  **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Convertible notes | $5211778 |  |  | $5211778 |
| &nbsp;&nbsp;&nbsp; Warrant liability | 980432 |  |  | 980432 |

---

#### Convertible Notes Payable
The Company classifies privately held convertible notes as Level 3 due to the lack of relevant observable market data over fair value inputs, such as the probability weighting of the various scenarios that can impact settlement of the arrangement. The convertible notes are accounted for under the fair value option ("FVO") under ASC 825. Under the

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 6 — Fair Value Measurement (cont.)
FVO election, the financial instrument is initially measured at its issue-date estimated fair value and subsequently remeasured at an estimated fair value on a recurring basis at each reporting period date. The estimated fair value adjustment is presented as a single line item within other expense (income) in the accompanying condensed statements of operations. The estimated fair value of the convertible notes as of September 30, 2022 and December 31, 2021, was computed using a Black-Scholes simulation of the present value of its cash flows using a synthetic credit rating analysis and a required rate of return, using the assumptions shown below. See Note 10 for additional information.

The significant inputs in the valuation model for as of September 30, 2022 and December 31, 2021 are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  **Inputs** | **Convertible Notes** | **Convertible Notes** | **2020 Convertible Notes** | **2020 Convertible Notes** | **2021 Convertible Notes** | **2021 Convertible Notes** | **2022 Convertible Notes** | **2022 Convertible Notes** |
|  **Inputs** | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** | **2022** | **2021** |
|  Valuation method | Monte Carlo Simulation | Monte Carlo Simulation | Discounted Cash Flow | Discounted Cash Flow | Straight Debt plus Call Option | Straight Debt plus Call Option | Straight Debt plus Call Option |  |
|  Face value principal payable | $1232099 | $1232099 | $1063480 | $1063480 | $1650250 | $1650250 | $644000 |  |
|  Original conversion price | $84.40 | $84.40 | 80% of common stock price | 80% of common stock price | $74.25 | $74.25 | $74.25` |  |
|  Value of common stock | $26.52 | $32.10 | $26.52 | $32.10 | $26.52 | $32.10 | $26.52 |  |
|  Expected term (years) | 1.55 | 3.0 |  |  | .65 | .61 | .65 |  |
|  Volatility | 90% | 69% |  |  | 94% | 51% | 94% |  |
|  Straight debt yield | 6% | 6% | 7% | 7% | 10% | 10% | 10% |  |
|  Risk free rate | 4.20% | 1.00% |  |  | 4.00% | .24% | 4.00% |  |

---

#### Warrant Liability
The Company has determined that its derivative liability warrants exercisable for Series B preferred stock and common stock fall within Level 3 of the fair value hierarchy. The Company utilizes a Black-Scholes model to measure the fair value of the derivative liability warrants. The Company's Black-Scholes model includes assumptions related to the expected stock-price volatility, expected term, dividend yield, and risk-free interest rate. See Note 12 for additional information.

The significant inputs in the valuation model as of September 30, 2022 and December 31, 2021 are as follows:

---

| | | |
|:---|:---|:---|
|  **Inputs** | **September 30, 2022** | **December 31, 2021** |
|  Common stock price | $26.52 | $32.10 |
|  Series A preferred stock price | $48.59 | $39.21 |
|  Series B preferred stock price | $117.84 | $114.67 |
|  Weighted average exercise price | $69.82 | $67.00 |
|  Volatility | 94% | 70% |
|  Weighted average expected term of the warrants (years) | 4.17 | .99 |
|  Risk-free rate | 4.06% | .39% |
|  Dividend yield | $— | $— |

---

The Company estimates the volatility of its common stock based on factors including, but not limited to, implied volatility of the warrants, the historical performance of comparable companies, and management's understanding of the volatility associated with similar instruments of other entities.

The risk-free rate is based on the yield of the U.S. Treasury Constant Maturity for a term that approximates the expected remaining life, which is assumed to be the remaining contractual term, of the warrants.

The dividend rate is based on the Company's historical rate, which the Company anticipates to remain at zero.

The Company recorded expenses of $269,129 and $47,411 due to change in fair value of the warrant liability during the nine months ended September 30, 2022 and 2021, respectively, and had a balance of $1,609,526 and $980,432 as of September 30, 2022 and December 31, 2021, respectively, recorded in its condensed balance sheets.

[**Table of Contents**](#TOC001)

**T1V, INC.**<br>**NOTES TO CONDENSED FINANCIAL STATEMENTS**

#### Note 7 — Line of Credit

#### Pacific Western Bank
On August 12, 2015, the Company entered into a Line of Credit agreement with Pacific Western Bank ("Pacific LOC"). The Pacific LOC provides for borrowings up to $2,000,000. Borrowings are collateralized by all the Company's assets and bear interest at a rate of 10.99% per annum. The Pacific LOC automatically renews each year unless Pacific Western Bank calls the line of credit or the Company cancels the line of credit. During the year ended December 31, 2021, the Company paid the balance on the Pacific LOC in full and subsequently cancelled the line of credit. The Company did not have any accrued interest on this line of credit as of September 30, 2022 and December 31, 2021, respectively.

#### First Citizens Bank
On April 15, 2020, the Company entered into a Line of Credit agreement with First Citizens Bank ("First Citizens LOC"). The First Citizens LOC provides for borrowings up to $50,000. Unsecured borrowings bear interest at a rate of 4.00% per annum and do not contain any debt covenants. The First Citizens LOC automatically renews each year unless First Citizens Bank calls the line of credit or the Company cancels the line of credit. As of September 30, 2022 and December 31, 2021, the balance on the line of credit was $42,320 and $49,984. The Company did not have any accrued interest on this line of credit as of September 30, 2022 and December 31, 2021.

#### Note 8 — Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following as of:

---

| | | |
|:---|:---|:---|
|  | **September 30, 2022** | **December 31, 2021** |
|  Accrued compensation costs | $784590 | $512407 |
|  Accrued professional fees | 289909 | 351523 |
|  Sales taxes payable | 18987 | 1444 |
|  Other accrued expenses and other current liabilities | 522877 | 561036 |
|  Total accrued expenses and other current liabilities | $1616363 | $1426410 |

---

#### Note 9 — Operating Leases and Right-of -Use (ROU) Assets
The Company leases its facility and various pieces of equipment under non-cancelable leases expiring at various dates through August 2025. In September 2022, the Company entered into a finance lease to lease various pieces of equipment over 24 months. No cash payments have been made on this as of September 30, 2022 and September 30, 2021 respectively.

Supplemental condensed statements of operations information related to leases was as follows:

---

| | | |
|:---|:---|:---|
|  | **Nine months ended September 30,** | **Nine months ended September 30,** |
|  | **2022** | **2021** |
|  Operating lease expense | $96659 | $123853 |

---

Supplemental condensed cash flow information related to leases was as follows:

---

| | | |
|:---|:---|:---|
|  | **Nine months ended September 30,** | **Nine months ended September 30,** |
|  | **2022** | **2021** |
|  Cash paid for amounts included in the measurement of lease liabilities: |  |  |
|  Operating cash flows from operating leases | $123487 | $119891 |

---

[**Table of Contents**](#TOC001)

**T1V, INC.**<br>**NOTES TO CONDENSED FINANCIAL STATEMENTS**

#### Note 9 — Operating Leases and Right-of -Use (ROU) Assets (cont.)
Supplemental balance sheet information related to leases was as follows:

---

| | | |
|:---|:---|:---|
|  | **As of** | **As of** |
|  | **September 30, 2022** | **December 31, 2021** |
|  Right of use asset: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease right-of-use assets, net | $323522 | $391429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Finance lease right-of-use assets | 97463 |  |
| &nbsp;&nbsp;&nbsp; Total right-of-use assets, net | $420985 | $391429 |
|  Lease liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long term operating lease liabilities | 315121 | 421332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current portion of operating lease liabilities | 139723 | 128248 |
| &nbsp;&nbsp;&nbsp; Total operating lease liabilities | $454844 | $549580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long term finance lease liabilities | 63479 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current portion of finance lease liabilities | 33984 |  |
| &nbsp;&nbsp;&nbsp; Total finance lease liabilities | $97463 | $— |

---

---

| | | |
|:---|:---|:---|
|  | **As of** | **As of** |
|  | **September 30, 2022** | **December 31, 2021** |
|  Weighted Average Remaining Lease Term |  |  |
| &nbsp;&nbsp;&nbsp; Operating Leases | 35 months | 44 months |
| &nbsp;&nbsp;&nbsp; Finance Leases | 24 months |  |
|  Weighted Average Discount Rate |  |  |
| &nbsp;&nbsp;&nbsp; Operating Leases | 7.75% | 7.75% |
| &nbsp;&nbsp;&nbsp; Finance Leases | 7.75% |  |

---

The following table presents information about the future maturity of the lease liability under the Company's leases as of September 30 2022:

---

| | | |
|:---|:---|:---|
|  **As of September 30, 2022** | **Operating <br>Leases** | **Finance <br>Leases** |
|  2022 (remainder of the year) | $41841 | $— |
| 2023 | 170286 | 52763 |
| 2024 | 175395 | 52763 |
| 2025 | 119698 |  |
|  Total lease payments | 507220 | 105526 |
| &nbsp;&nbsp;&nbsp; Effect of discounting | (52376) | (8063) |
|  Total lease liability | $454844 | $97463 |

---

#### Note 10 — Convertible Notes Payable

#### Convertible Notes
Prior to 2020, the Company executed convertible promissory notes ("Convertible Notes") with a lender with an aggregate principal amount of $1,232,099. On February 5, 2020, the Company amended the Convertible Notes which had a face value on the amendment date of $1,255,595. Under the terms of the amendment, the outstanding principal under the Convertible Notes will accrue interest at a rate of 6% ("nonconvertible interest"). Upon the occurrence of a deemed liquidation event or a stock sale, the Company shall pay to the lender an amount equal to (i) the convertible balance, which shall mean the outstanding principal and accrued interest on the Convertible Notes as of October 11, 2018, plus (ii) the as-converted balance, which shall mean the convertible balance divided by $84.40 multiplied by 1.6657 multiplied by the amount per share received by holders of Common Stock in connection with a deemed

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 10 — Convertible Notes Payable (cont.)
liquidation event or stock sale, plus (iii) the unpaid and accrued nonconvertible interest. In the event the Company effects a redemption, the Company shall pay to the lender the redemption amount, which shall mean an amount equal to the product of (a) the price per share of Series B Preferred Stock as part of such redemption multiplied by (b) the quotient of the redemption amount divided by $84.40. The Company shall also pay to the lender an amount equal to the total unpaid and accrued nonconvertible interest multiplied by a fraction, the numerator of which is the redemption amount and the denominator of which is the convertible balance. The Convertible Notes do not have a stated maturity date.

The Company elected the fair value option to account for the Convertible Notes. The fair value of the Convertible Notes on issuance was recorded at $2,500,000 based upon the calculated fair value.

The fair value of the notes increased by $367,000 and increased by $410,000, respectively, for the nine months ended September 30, 2022 and 2021, and was recognized as current period other (income) expense in the Company's condensed statements of operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk).

#### 2020 Convertible Notes
On February 5, 2020, the Company executed a Note Purchase Agreement with various investors and issued convertible promissory notes with an aggregate principal amount of $1,063,480 ("2020 Convertible Notes"). Outstanding principal under the 2020 Convertible Notes will accrue interest at a rate of 7% per annum. The principal and unpaid accrued interest of each note will be automatically converted into Conversion Shares upon the closing of a Qualified Financing. Qualified Financing shall mean the next sale (or series of related sales) by the Company of its Equity Securities from which the Company receives gross proceeds of not less than $5,000,000, excluding (i) the aggregate amount of debt securities converted into Equity Securities upon conversion of the notes; and (ii) the aggregate amount used to redeem Equity Securities or debt securities of the Company. The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest on a note to be converted on the date of conversion, by the Conversion Price, which shall mean 80% of the price paid per share for Equity Securities by the investors in the Qualified Financing. Equity Securities include the Company's common stock or preferred stock or any securities conferring the right to purchase the Company's common Stock or preferred stock or securities convertible into, or exchangeable for (with or without additional consideration), the Company's common stock or preferred stock. At least five days prior to the closing of the Qualified Financing, the Company shall notify each holder of a Note in writing of the terms under which the Equity Securities of the Company will be sold in such financing. The initial maturity date of the notes was February 5, 2022.

In March 2022, the Company agreed to amend the Note Purchase Agreement executed on February 5, 2020 in to extend the maturity date to December 31, 2022.

Of the aggregate principal amount, $441,048 relates to pre-existing convertible note agreements that were rolled over into the Note Purchase Agreement.

The fair value of the note increased by $32,727 and decreased by $127,558, respectively, for the nine months ended September 30, 2022 and 2021, and was recognized as current period other (income) expense in the Company's condensed statements of operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk).

Fees relating to the Company's entry into the Note Purchase Agreement consisted primarily of legal fees which were expensed immediately as interest expense in the Company's statements of operations.

#### 2021 Convertible Notes and Convertible Notes Warrants
In November 2021, the Company executed convertible promissory notes with multiple investors with a total principal amount of $1,650,250 ("2021 Convertible Notes"). Outstanding principal under the 2021 Convertible Notes will accrue interest at a rate of 10% per annum. The investors may elect to convert all of the outstanding principal and accrued

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 10 — Convertible Notes Payable (cont.)
but unpaid interest due under the 2021 Convertible Notes into shares of common stock two months from the date of issuance. The Conversion Price per share for the shares of common stock shall equal (i) for 25% of the amount of principal and interest: a $17,500,000 valuation and (ii) for the remaining 75% of the amount of principal and interest: a 20% discount to the Company's initial public offering price. At any time after two months from the date of issuance, or at the sole discretion of the Company's Board of Directors, all of the outstanding principal and accrued but unpaid interest due under this 2021 Convertible Notes shall automatically convert to common stock at the Conversion Price immediately prior to the occurrence of any of the following (i) a merger in which the shareholders of the Company prior to the merger hold less than 50% of the voting power of the capital stock of the surviving corporation after such merger, a sale of all of the assets of the Company or a transaction or series of transactions in which 50% or more of the voting power of the capital stock of the Company is transferred; or (ii) the closing of an initial public offering of the Company's equity securities. The maturity date of the 2021 Convertible Notes is November 5, 2022.

In connection with the 2021 Convertible Notes, the Company issued Convertible Note Warrants that are exercisable for common stock at any time on or before November 5, 2026. The number of shares of common stock initially purchasable under the warrants shall be equal to a variable number of shares, and the warrant exercise price shall be subject to adjustment from time to time. See Note 13 for additional information.

The fair value of the note increased by $284,900 and $0, respectively, for the nine months ended September 30, 2022 and 2021, and was recognized as current period other (income) expense in the Company's condensed statements of operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk).

#### 2022 Convertible Notes and Convertible Notes Warrants
In January 2022, February 2022 and July 2022, the Company executed three convertible promissory notes with investors with a total principal amount of $644,000 ("2022 Convertible Notes"). These convertible notes were issued with an $84,000 original issue discount ("OID"), which was expensed immediately in the Company's condensed statements of operations. Outstanding principal under the 2022 Convertible Notes will accrue interest at a rate of 10% per annum. The investors may elect to convert all of the outstanding principal and accrued but unpaid interest due under the 2022 Convertible Notes into shares of common stock two months from the date of issuance. The Conversion Price per share for the shares of common stock shall equal (i) for 25% of the amount of principal and interest: a $17,500,000 valuation and (ii) for the remaining 75% of the amount of principal and interest: a 20% discount to the Company's initial public offering price. At any time after two months from the date of issuance, or at the sole discretion of the Company's Board of Directors, all of the outstanding principal and accrued but unpaid interest due under this 2022 Convertible Notes shall automatically convert to common stock at the Conversion Price immediately prior to the occurrence of any of the following (i) a merger in which the shareholders of the Company prior to the merger hold less than 50% of the voting power of the capital stock of the surviving corporation after such merger, a sale of all of the assets of the Company or a transaction or series of transactions in which 50% or more of the voting power of the capital stock of the Company is transferred; or (ii) the closing of an initial public offering of the Company's equity securities. The maturity dates of the 2022 Convertible Notes are January 1, 2023, February 28, 2023 and July 31, 2023, respectively.

In connection with the 2022 Convertible Notes, the Company issued Convertible Notes Warrants that are exercisable for common stock at any time on or before January 1, 2026, February 28, 2026 and July 31, 2027, respectively. The number of shares of common stock initially purchasable under the warrants shall be equal to a variable number of shares, and the warrant exercise price shall be subject to adjustment from time to time. See Note 13 for additional information.

The fair value of the 2022 Convertible Notes increased by $136,908 and $0, respectively, for the nine months ended September 30, 2022 and 2021, respectively, and was recognized as current period other (income) expense in the Company's condensed statements of operations (as no portion of such fair value adjustment resulted from instrument-specific credit risk).

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 10 — Convertible Notes Payable (cont.)
The following table is a summary of the Company's convertible notes payable for which it elected the fair value option as of September 30, 2022:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Convertible Notes** | **2020 Convertible Notes** | **2021 Convertible Notes** | **2022 Convertible Notes** | **Total** |
|  Fair value at December 31, 2021 | $2175500 | $1211300 | $1824977 | $— | $5211777 |
|  Fair value on issuance date |  |  |  | 644000 | 644000 |
|  Change in fair value | 367000 | 32727 | 284900 | 136908 | 821535 |
|  Fair value at September 30, 2022 | $2542500 | $1244027 | $2109877 | $780908 | $6677312 |

---

#### Pre-2020 Convertible Notes
During the calendar years 2013 through 2015, the Company executed convertible note payable agreements with various investors ("Pre-2020 Convertible Notes"). The Company measures the Pre-2020 Convertible Notes at amortized cost. Outstanding principal on the Pre-2020 Convertible Notes will accrue interest at a rate of 12% per annum. The principal and interest of the pre-2020 Convertible Notes is convertible at the option of the note holders into shares of the Company's Series B Preferred Stock six months following the achievement of (i) all milestones set forth in a certain Series B Preferred Stock Purchase Agreement with an investor and (ii) two consecutive quarters of earnings before interest, taxes, depreciation, and amortization ("EBITDA") (collectively, the "Note Conversion Milestones"). The number of shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on the Pre-2020 Convertible Notes on the date of conversion by $84.40. On December 31, 2016, the Company achieved the Note Conversion Milestones. Therefore, the optional conversion feature expired for all of the investors of the Pre-2020 Convertible Notes on June 30, 2017. The Pre-2020 Convertible Notes do not have a stated maturity date.

As of September 30, 2022 and December 31, 2021, the outstanding principal balance on the Pre-2020 Convertible Notes was $745,391 and $751,020, respectively. The Company recorded interest expense of $68,109 and $69,499 during the nine months ended September 30, 2022 and 2021, respectively. The cumulative interest accrued on these notes as of September 30, 2022 and December 31, 2021 was $776,501 and $708,392, respectively.

#### Note 11 — Long-Term Debt and Related Party Notes Payable
Long-term debt consisted of the following as of:

---

| | | |
|:---|:---|:---|
|  | **September 30, 2022** | **December 31, 2021** |
|  Decathlon Loan and Side Loan Agreements | $1550000 | $1550000 |
|  EIDL Loan | 1987198 | 2000000 |
|  Mountain BizWorks Loan | 240920 | 248804 |
|  PPP Loan |  | 973900 |
|  Total long-term debt | 3778118 | 4772704 |
|  Less: current portion of long-term debt | (1613917) | (1835728) |
|  Total long-term debt, net of current portion and discount on debt | $2164201 | $2936976 |

---

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 11 — Long-Term Debt and Related Party Notes Payable (cont.)
Future maturities of long-term debt are as follows:

---

| | |
|:---|:---|
|  **As of September 30, 2022** | |
| 2022 | $1613917 |
| 2023 | 66804 |
| 2024 | 69826 |
| 2025 | 72989 |
| 2026 | 76302 |
|  Thereafter | 1878280 |
|  Total | $3778118 |

---

*Decathlon Loan and Side Letter Agreements*

In July 2015, the Company entered into a note payable agreement with Decathlon Alpha II, L.P. ("Decathlon") with total proceeds of $1,250,000. Monthly principal payments are calculated by taking the applicable revenue percentage and multiplying it by the revenue from the previous month. The applicable revenue percentage as defined in the agreement is 1%. Interest on the outstanding balance accrues monthly at a rate based on an internal rate of return of 25%. The Company recorded accrued interest in the amounts of $1,585,000 and $1,789,400 as of September 30, 2022 and December 31, 2021, respectively. The note is secured by substantially all assets of the Company.

In connection with the Decathlon Note, the Company issued detachable warrants with an exercise price of $0.10 per share for the right to purchase, for a nominal amount, a 1.43% interest in the Company. At September 30, 2022 and December 31, 2021, there were 2,766 and 2,766 warrants outstanding based on the buyout percentage, respectively. The Company recorded a debt discount of $12,973, which was fully amortized as of September 30, 2022 and December 31, 2021, to interest expense using the effective interest method. During the nine months ended September 30, 2022 and 2021, the Company amortized $0 and $2,490 of the debt discount, respectively. Refer to Note 12 — Warrants for more information on the detachable warrants.

Concurrently with the execution of the note payable agreement with Decathlon, the Company entered into a side letter agreement ("Side Letter") with two stockholders. Under the terms of the Side Letter, the stockholders agreed to provide the Company with an advance of $300,000 under the same terms and conditions contained in note payable agreement with Decathlon. The total balance on the Side Letter was $300,000 as of September 30, 2022 and December 31, 2021. The Company recorded accrued interest in the amounts of $466,680 and $410,380 as of September 30, 2022 and December 31, 2021, respectively.

*Economic Injury Disaster Loan (EIDL)*

In June 2020, the Company entered into a note agreement with the Small Business Administration. The note agreement is a secured disaster loan in the amount of $500,000 which requires monthly payments of $2,437 consisting of principal and interest at 3.75% through June 2050, when all remaining principal and interest is due and payable. Monthly payments were deferred until June 2021.

In 2021, the note was amended. The amendment increased the secured disaster loan to $2,000,000. Monthly payments were deferred until December 2022. The balance on this loan was $1,987,198 as of September 30, 2022 and $2,000,000 as of December 31, 2021. The Small Business Administration loan is collateralized by substantially all Company assets. The Company recorded accrued interest in the amounts of $113,013 and $57,031 as of September 30, 2022 and December 31, 2021, respectively.

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 11 — Long-Term Debt and Related Party Notes Payable (cont.)
*Mountain BizWorks Loan*

In October 2020, the Company entered into a note agreement with Mountain BizWorks for a loan of $250,000 which requires monthly payments of $3,086 consisting of principal and interest at .25% through June 2022 at which time the rate will increase to 5.5% and will be fixed through November 2030 when all remaining principal and interest is due and payable. Monthly payments are deferred until June 2022. The balance on this loan was $240,920 as of September 30, 2022 and $248,804 as of December 31, 2021. This loan is collateralized by substantially all Company assets. The Company recorded accrued interest in the amounts of $5,517 and $727 as of September 30, 2022 and December 31, 2021, respectively.

*Paycheck Protection Program*

In 2020, the Company received $973,900 in aggregate loan proceeds (the "PPP Loan") from Aquesta Bank (the "Lender") pursuant to the Paycheck Protection Program ("PPP") under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The PPP Loan is evidenced by a Promissory Note (the "Note"), by and between the Company and the Lender. Subject to the terms of the Note, the PPP Loan bears interest at a fixed rate of one percent (1.0%) per annum. Under the terms of the Note, payments of principal and interest are deferred for six months from the origination date. Following the deferral period, the Company will be required to make payments of principal plus interest accrued under the PPP Loan to the Lender in monthly installments based upon an amortization schedule to be determined by the Lender on the principal balance of the Note outstanding following the deferral period and taking into consideration any portion of the PPP Loan that is forgiven prior to that time. The PPP Loan is unsecured and guaranteed by the U.S. Small Business Administration. The Company's PPP Loan application for forgiveness was approved and official notice received in 2021 and a gain on forgiveness of debt was recognized in the amount of $973,900.

The Small Business Administration ("SBA") reserves the right to audit the PPP loans after forgiveness is granted in accordance with the CARES Act. Borrowers are required to maintain the PPP loan documentation for six years after the PPP loan was forgiven and to provide that documentation to the SBA upon request. While the Company believes that it is a qualified business and that it has met the eligibility requirements of the PPP loans, and believes that it has used the loan proceeds only for expenses which may be paid using proceeds from the PPP loans, no assurance can be provided that any potential SBA audit will verify the amounts forgiven, in whole or in part, and the Company could be required to repay all or part of the forgiven amount.

In January 2021, the Company entered into a second note agreement with a financial institution for $973,900 which was issued in accordance with the PPP established by the CARES Act and implemented and administered by the Small Business Administration. Any portion not forgiven will be due in monthly installments of principal and interest at 1% per annum beginning in November 2021 and continuing through January 2026. The Company has accounted for the PPP Loan in the same manner as it has for its other loan agreements. The Company's PPP Loan application for forgiveness was approved in 2022. The principal balance on this PPP Loan is $0 and $973,900 as of September 30, 2022 and December 31, 2021, respectively. The Company recorded accrued interest in the amounts of $0 and $1,596 as of September 30, 2022 and December 31, 2021, respectively, on this PPP loan. The Company's PPP Loan application for forgiveness was approved and official notice received in 2022 and a gain on forgiveness of debt was recognized in the amount of $973,900.

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 11 — Long-Term Debt and Related Party Notes Payable (cont.)
The Company had the following related party notes payable as of:

---

| | | |
|:---|:---|:---|
|  | **September 30, 2022** | **December 31, 2021** |
|  The Company has an unsecured, non-convertible note payable with the Company's Chief Executive Officer. The note payable does not have a stated maturity date and is payable on demand. Interest accrues on the outstanding principal amount at a rate of 6% per annum. During the nine months ended September 30, 2022 and 2021, the Company recorded interest expense of $26,840 and $28,653, respectively. As of September 30, 2022 and December 31, 2021, the Company recorded accrued interest of $358,887 and $332,047, respectively, which is included in accrued interest liability. The Company made cash payments on the note of $27,315 and $69,000 during the nine months ended September 30, 2022 and 2021. | $237290 | $264605 |
|  The Company has an unsecured, non-convertible note payable with a stockholder for total proceeds of $100,000. The note payable is noninterest bearing, does not have a stated maturity date, and is payable on demand. The Company issued warrants in connection with the note payable. Refer to Note 12 – Warrants for additional details. | 148998 | 137379 |
|  The Company has an unsecured, non-convertible note payable with a stockholder for total proceeds of $200,000. The note payable does not have a stated maturity date and is payable on demand. Interest accrues on the outstanding principal amount at a rate of 6% per annum. During the nine months ended September 30, 2022 and 2021, the Company recorded interest expense of $9,000 and $0. As of September 30, 2022 and December 31, 2021, the Company recorded accrued interest of $10,633 and $0. | 200000 | 200000 |
|  Total related party notes payable | $586288 | $601984 |

---

#### Note 12 — Warrants
A summary of warrant activity during the nine months ended September 30, 2022 and 2021 is as follows:

---

| | |
|:---|:---|
|  | **Number of Warrants** |
|  Balance at December 31, 2021 | 3159 |
| &nbsp;&nbsp;&nbsp; Issued | 135 |
| &nbsp;&nbsp;&nbsp; Exercised | (333) |
|  Balance at September 30, 2022 | 2961 |

---

---

| | |
|:---|:---|
|  | **Number of Warrants** |
|  Balance at December 31, 2020 | 3699 |
| &nbsp;&nbsp;&nbsp; Issued | 803 |
| &nbsp;&nbsp;&nbsp; Cancelled | (458) |
| &nbsp;&nbsp;&nbsp; Exercised | (600) |
|  Balance at September 30, 2021 | 3444 |

---

#### Consulting Warrants
In August 2012 and June 2016, the Company entered into a consulting agreement with Scale Finance, LLC. As part of the consulting agreement, the Company issued warrants to purchase 333 shares of Series A Preferred Stock at an exercise price of $60 per share and 1,058 shares of Series B Preferred Stock at an exercise price of $84.40 per share (collectively, the "consulting warrants"). The consulting warrants expire on August 15, 2022. As the Series A and

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 12 — Warrants (cont.)
Series B Preferred Stock is redeemable at the option of the holder and is considered temporary equity, the Company accounts for these warrants as liabilities in accordance with ASC 480, which is carried on the condensed balance sheets at fair value with any changes in its fair value recognized in the condensed statements of operations.

In May 2021, the Company and Scale Finance, LLC terminated the consulting agreements with Scale Finance. As part of the termination, Scale Finance LLC exercised 600 warrants for 600 shares of Series B Preferred Stock and the Company paid an outstanding fee for services of $2,695. The remaining 458 consulting warrants for Series B Preferred Stock were cancelled.

In August, 2022, the remaining 333 Series A warrants were exercised for 333 shares of Series A Preferred Stock. At September 30, 2022 and 2021, 0 and 333 Series A warrants remained outstanding, respectively.

#### Stockholder Warrants
In October 2015, the Company executed an agreement in conjunction with a note payable with one of its stockholders for warrants ("stockholder warrants") to purchase 480 shares of Series B Preferred Stock and an additional 40 shares for each full month that the agreement is valid after October 28, 2017 until the expiration date of October 28, 2022. In October 2019, the stockholder exercised all of the outstanding warrants for 1,440 shares of Series B Preferred Stock. At that time, the agreement was amended, and the Company agreed to issue 15 additional warrants for each full month (or 180 warrants per year) that the loan remains outstanding after October 28, 2019 and before October 29, 2022, plus an additional 40 warrants for each full month the loan remains outstanding after October 29, 2022. In September 2021, the stockholder exercised additional warrants for 330 shares of Series B Preferred Stock. The exercise price of the warrants is $0.01 per share. While the warrants are outstanding, the holder may exercise the warrants by payment to the Company of an amount equal to the aggregate exercise price of the number of shares being purchased or through a cashless exercise. As the Series B Preferred Stock is redeemable at the option of the holder and is considered temporary equity, the Company accounts for these warrants as liabilities in accordance with ASC 480, which is carried on the condensed balance sheets at fair value with any changes in its fair value recognized in the condensed statements of operations. At September 30, 2022 and December 31, 2021, there were 195 and 300 warrants outstanding, respectively.

#### Decathlon Warrants
In July 2015, in connection with the note payable agreement with Decathlon and stockholders, as described in Note 12, the Company executed an agreement with Decathlon and the stockholders for warrants (collectively, the "Decathlon Warrants") to purchase shares of the Company's common stock for an exercise price of $0.10 per share. The warrants expire at various dates ending no later than July 15, 2025.

The holder of the warrant will have the right to receive a number of common stock that will result in the holder receiving an amount equal to the buyout percentage of the gross proceeds from a change of control plus the exercise price. The Warrant Agreement gave Decathlon the right to 0.40% and each stockholder the right to 0.08% of the gross proceeds of any Company change of control transaction, as of the July 2015 execution date. In November 2015, the amendment with Decathlon increased the buyout percentage for Decathlon to 0.90%. In March 2021, the Company executed an agreement with Decathlon and the stockholders to issue additional warrants that increased the total buyout percentage equal to 1.089% in total and resulted in the issuance of an additional 668 Decathlon warrants. As the Decathlon warrants constitute an obligation to deliver a variable number of shares, the Company accounts for these warrants as liabilities in accordance with ASC 480, which is carried on the condensed balance sheets at fair value with any changes in its fair value recognized in the condensed statements of operations.

#### Convertible Notes Warrants
As described in Note 10, during November 2021, January 2022, and February 2022, T1V executed offerings of an aggregate $1,880,250 of convertible notes and detachable warrants ("Convertible Notes Warrants") with multiple investors. The warrants shall be exercisable for common stock at any time on or before five years from the closing date of the offering.

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 12 — Warrants (cont.)
The number of shares of common stock initially purchasable under the warrants shall be equal to a variable number of shares, and the warrant exercise price shall be subject to adjustment from time to time. Upon each adjustment of the exercise price, the holder of the warrant shall thereafter be entitled to purchase the number of shares obtained by multiplying the exercise price in effect immediately prior to such adjustment by the number of shares purchasable immediately prior to the adjustment and dividing the product by the exercise price resulting from the adjustment. The initial exercise price shall be equal to the price per share in the Company's initial public offering. As the Convertible Notes Warrants constitute an obligation to deliver a variable number of shares, the Company accounts for these warrants as liabilities in accordance with ASC 480, which is carried on the condensed balance sheets at fair value with any changes in its fair value recognized in the condensed statements of operations.

The following is a reconciliation of the fair values for the warrant liability outstanding during the nine months ended September 30, 2022 and 2021, which are measured at fair value and categorized within Level 3 of the fair value hierarchy:

---

| | |
|:---|:---|
|  | **Fair Value** |
|  Warrant liability as of December 31, 2021 | $980432 |
| &nbsp;&nbsp;&nbsp; Liability at issuance | 360552 |
| &nbsp;&nbsp;&nbsp; Exercise of warrants | (586) |
| &nbsp;&nbsp;&nbsp; Increase in fair value | 269129 |
|  Warrant liability as of September 30, 2022 | $1609527 |

---

---

| | |
|:---|:---|
|  | **Fair Value** |
|  Warrant liability as of December 31, 2020 | $164615 |
| &nbsp;&nbsp;&nbsp; Liability at issuance | 12580 |
| &nbsp;&nbsp;&nbsp; Exercise of warrants | (13314) |
| &nbsp;&nbsp;&nbsp; Increase in fair value | 47411 |
|  Warrant liability as of September 30, 2021 | $211292 |

---

#### Note 13 — Revenue Recognition
Disaggregated information for the Company's revenue is presented below by revenue stream:

---

| | | |
|:---|:---|:---|
|  | **Nine months ended <br>September 30,** | **Nine months ended <br>September 30,** |
|  | **2022** | **2021** |
|  Project Revenue | $8974769 | $4377166 |
|  License Agreements | 2086954 | 1937663 |
|  Total Revenue | $11061723 | $6314829 |

---

*Revenue by Geographic Region*

Revenues by geographic region are as follows for the years ended:

---

| | | |
|:---|:---|:---|
|  | **Nine months ended <br>September 30,** | **Nine months ended <br>September 30,** |
|  | **2022** | **2021** |
|  Domestic | $9988576 | $5663386 |
|  Foreign | 1073147 | 651443 |
|  Total Revenue | $11061723 | $6314829 |

---

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 13 — Revenue Recognition (cont.)
*Deferred Revenue*

Deferred revenue represents amounts billed to clients in excess of revenue recognized to date. These liabilities are held within deferred revenue on the balance sheet. Deferred revenue is as follows for the periods ended:

---

| | | | |
|:---|:---|:---|:---|
|  | **September 30, 2022** | **December 31, 2021** | **December 31, 2020** |
|  Beginning balance of deferred revenue, January 1 | $3891670 | $4178794 | $3580656 |
|  Revenue deferred | 13170748 | 8927234 | 8775534 |
|  Revenue recognized | (11061723) | (9214358) | (8177396) |
|  Total deferred revenue | $6000695 | $3891670 | $4178794 |
|  Less: deferred revenue, current portion | 3163680 | 2316573 | 2245817 |
|  Less: unearned revenue | 1543885 | 468615 | 621406 |
|  Deferred revenue, net of current portion | $1293130 | $1106482 | $1311571 |

---

*Unbilled Accounts Receivable*

An unbilled accounts receivable represents a situation in which revenue recognized within the related performance obligation exceeds the value of billings to date. Unbilled accounts receivables are typically incurred in relation to project revenues for developed hardware and software, in which revenues are recognized using an input measure of total costs incurred divided by total costs expected to be incurred. In certain situations, revenue recognized may exceed the amount expected to be billed and collected from the customer, generating an unbilled accounts receivable for that customer. Unbilled accounts receivable are classified as current based on the remaining time between the date of the consolidated balance sheets and the anticipated due date of the underlying receivables, and were $532,839, $491,946, and $47,241 as of September 30, 2022, December 31, 2021, and December 31, 2020, respectively.

*Costs Capitalized to Obtain Revenue Contracts*

The Company capitalizes the incremental costs of obtaining revenue contracts. The capitalized amounts consist solely of sales commissions paid to the Company's sales team related to acquiring new contracts. These costs are capitalized and included in prepaid expense and other current assets and are amortized on a straight-line basis over a period of 4 years, which reflects the average customer life. In arriving at this average period of benefit, the Company evaluated both qualitative and quantitative factors which included the estimated life cycles of its contracts and customer attrition. Costs to obtain revenue contracts were $146,158, $83,192 and $99,945, for the nine months ended September 30, 2022, and the twelve months ended December 31, 2021 and 2020, respectively. During the nine months ended September 30, 2022 and twelve months ended December 31, 2021 and December 31, 2020 the Company capitalized $104,384, $40,925, and $0, respectively, of cost to obtain revenue contracts. Amortization expense for the nine months ended September 30, 2022 and 2021 was $41,418 and $45,956, respectively. There were no impairments of costs to obtain revenue contracts for the nine months ended September 30, 2022 and 2021.

#### Note 14 — Other Expense (Income)
Other expense (income) consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **September 30,** | **September 30,** |
|  | **2022** | **2021** |
|  PPP loan forgiveness | $(973900) | $(973900) |
|  Employee retention credit |  | (1199098) |
|  Convertible note change in fair value | 821535 | 282442 |
|  Warrant liability change in fair value | 269129 | 47411 |
|  Other income | (76146) | 2024 |
|  Total other (income) expense | $40618 | $(1841121) |

---

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 15 — Capital Stock
As of September 30, 2022, the Company was authorized to issue 442,712 shares of stock at a par value of $0.001 per share, consisting of 300,000 shares of common stock and 142,712 shares of preferred stock.

Of the 142,712 authorized shares of preferred stock, 940 shares are designated as Series A-1 Preferred Stock, 17,036 shares are designated as Series A-2 Preferred Stock, 20,442 shares are designated as Series A-3 Preferred Stock, 18,893 shares are designated as Series A-4 Preferred Stock, 7,179 shares are designated as Series A-5 Preferred Stock, and 78,222 shares are designated as Series B Preferred Stock.

#### Common Stock
*Dividend Rights*

Holders of the Company's common stock are entitled to receive dividends, if any, as may be paid, set aside, or declared from time to time by the Company ratably with shares of the Company's preferred stock, subject to preferences that may be applicable to any then outstanding preferred stock and limitations under Delaware law. The Company has not paid, set aside, or declared any dividends in respect of common stock for the nine months ended September 30, 2022 and 2021.

*Voting Rights*

Each holder of the Company's common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders.

*Liquidation*

In the event of the Company's liquidation, dissolution or winding up ("Liquidation Event"), holders of the Company's common stock will be entitled to share ratably with shares of the Company's preferred stock in the net assets legally available for distribution to stockholders after the payment of all of the Company's debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then outstanding shares of preferred stock.

*Rights and Preferences*

Holders of the Company's common stock have no preemptive, conversion, subscription or other rights and there are no redemption or sinking fund provisions applicable to the Company's common stock. The rights, preferences and privileges of the holders of the Company's common stock are subject to and may be adversely affected by, the rights of the holders of shares of any series of the Company's preferred stock that the Company may designate in the future.

#### Series A and Series B Preferred Stock
All classes of preferred stock are contingently redeemable by the holders upon events that are outside the control of the Company into a per share price equal to the applicable original issuance price plus accumulated and undeclared dividends (see below for further discussion of dividends). As such, the preferred stock is classified outside of permanent equity.

The liquidation preference for the redeemable convertible preferred stock is as follows for the periods ending:

---

| | | |
|:---|:---|:---|
|  | **September 30, 2022** | **December 31, 2021** |
|  Series A-1 | $71505 | $68456 |
|  Series A-2 | 1079950 | 1033894 |
|  Series A-3 | 1356016 | 1298187 |
|  Series A-4 | 1757730 | 1682770 |
|  Series A-5 | 762784 | 710408 |
|  Series B | 5175448 | 4955305 |
|  Total | $10203433 | $9749020 |

---

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 15 — Capital Stock (cont.)
*Dividend Rights*

Holders of Series B Preferred Stock, in preference to the holders of Series A Preferred Stock and common stock, will be entitled to receive, upon the liquidation, dissolution, or winding up of the Corporation or a Deemed Liquidation Event, cumulative dividends at the rate of six percent (6%) of the Series B Original Issue Price compounded per annum on each outstanding share of Series B Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series B Preferred Stock).

Holders of each sub-series of Series A Preferred Stock, in preference to the holders of common stock, will be entitled to receive, upon the liquidation, dissolution, or winding up of the Corporation or a Deemed Liquidation Event, cumulative dividends at the rate of six percent (6%) of the applicable Series A Original Issue Price compounded per annum on each outstanding share of Series A Preferred Stock (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series A Preferred Stock).

Holders of the Company's preferred stock are entitled to receive dividends, if any, as may be paid, set aside, or declared from time to time by the Company ratably with shares of the Company's common stock based on the number of shares held by each such holder, treating all securities as if they had been converted to common stock. The Company has not paid, set aside, or declared any dividends in respect of preferred stock for the nine months ended September 30, 2022 and 2021.

*Redemption*

The Series A and Series B Preferred Stock are not mandatorily redeemable but may be redeemed upon a Liquidation Event or Deemed Liquidation Event. The holders of shares of Series B Preferred Stock will be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, with equal priority and on a pari passu basis, before any payment will be made to the holders of Series A Preferred Stock or the holders of common stock, an amount per share equal to the Series B Original Issue Price, plus any dividends declared but unpaid. If upon any such Liquidation Event or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders are insufficient to pay the holders of shares of Series B Preferred Stock the full amount to which they are entitled, then the holders of shares of Series B Preferred Stock will share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable with respect of the shares held by them upon such distribution if all amounts payable with respect to such shares were paid in full.

If, after the payment in full of the Series B Preferred Stock liquidation preference, any assets of the Corporation remain, then in the event of a Liquidation Event or Deemed Liquidation Event the holders of shares of each sub-series of Series A Preferred Stock then outstanding will be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, with equal priority and on a pari passu basis, before any payment will be made to the holders of common stock, an amount per share equal to the applicable Series A Original Issue Price, plus any dividends declared but unpaid or such an amount per share that would have been payable has all shares of such sub-series of Series A Preferred Stock been converted into common stock immediately prior to such Liquidation Event or Deemed Liquidation Event. If upon any such Liquidation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders are insufficient to pay the holders of shares of Series A Preferred Stock the full amount to which they are entitled, then the holders of shares of Series A Preferred Stock will share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable with respect of the shares held by them upon such distribution if all amounts payable with respect to such shares were paid in full. At September 30, 2022, the shares of Preferred Stock were not redeemable and the likelihood of an occurrence of a Deemed Liquidation Event was not deemed to be probable.

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 15 — Capital Stock (cont.)
*Accretion of Redeemable Convertible Preferred Stock*

As all classes of the Company's redeemable convertible preferred stock are contingently redeemable by the holders upon events that are outside the control of the Company, the carrying value of the Series A and Series B redeemable convertible preferred stock is adjusted to maximum redemption amount each period. Increases to the carrying value of redeemable convertible preferred stock is recognized each period as a charge against additional paid-in capital or, in the absence of additional paid-in capital, by charges against accumulated deficit.

For the nine months ended September 30, 2022 and 2021, the accretion of the Series A redeemable convertible preferred stock was $213,704 and $201,452.

For the nine months ended September 30, 2022 and 2021, the accretion of the Series B redeemable convertible preferred stock was $220,143 and $166,393.

*Voting Rights*

Holders of record of the shares of Series A Preferred Stock, exclusively and as a separate class, have the right to elect two directors of the Corporation. Holders of record of the Series B Preferred Stock, exclusively and as a separate class, have the right to elect two directors of the Corporation. Any Series A Director seat or Series B Director seat shall be considered vacant until the stockholders entitled to elect a person to fill such directorship vote exclusively and as a separate class.

On all other matters, each holder of Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of common stock into which the shares of Preferred Stock held by such holder are convertible as of the record date, voting as a single class with holders of common stock.

*Conversion Rights*

Each share of Preferred Stock is convertible, at the option of the holder, into such number of fully paid and nonassessable shares of common stock as is determined by dividing (a) in the case of the Series A Preferred Stock, the applicable Series A Original Issue Price by the applicable Series A Conversion Price in effect at the time of conversion, and (b) in the case of the Series B Preferred Stock, the Series B Original Issue Price by the Series B Conversion Price in effect at the time of conversion. The "Series A Conversion Price" shall initially be equal to $44.15 for each share of Series A-1 Preferred Stock, $36.79 for each share of Series A-2 Preferred Stock, $38.50 for each share of Series A-3 Preferred Stock, $54.00 for each share of Series A-4 Preferred Stock, and $60.00 for each share of Series A-5 Preferred Stock. The "Series B Conversion Price" shall be initially equal to $50.67 for each share of Series B Preferred Stock.

Upon either the closing of (a) the sale of shares of common stock to the public at a price of at least four times the Series B Original Issuance Price or (b) the date and time, or the occurrence of an event, specified by vote or written consent of the majority of Series B Preferred Stockholders (the time or such closing or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the "Mandatory Conversion Time"), all outstanding shares of Preferred Stock shall automatically be converted into shares of common stock at the then effective conversion rate determined by dividing (a) in the case of the Series A Preferred Stock, the applicable Series A Original Issue Price by the applicable Series A Conversion Price in effect at the time of conversion, and (b) in the case of the Series B Preferred Stock, the Series B Original Issue Price by the Series B Conversion Price in effect at the time of conversion.

#### Note 16 — Stock-Based Compensation
On January 25, 2014, the Company established an Incentive Stock Option Plan ("the 2014 Plan") which provides for the issuance of up to 200,000 shares of the Company's common stock. Under the Plan, the Company has issued restricted stock options to key employees. Stock options that were issued prior to December 31, 2017 were issued with an exercise price of $7.90 and stock options issued between December 31, 2017 and April 26, 2022 were issued with an exercise price of $6.00. All stock options vest over four years on a straight-line basis and expire no later than ten years from the date of grant.

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 16 — Stock-Based Compensation (cont.)
On August 27, 2019, the Company adopted its 2019 Stock Incentive Plan (the "2019 Plan"). The 2019 Plan allows for the grant of a variety of equity awards to provide flexibility in implementing equity awards, including incentive stock options, nonstatutory stock options, restricted stock, restricted stock units and other stock-based awards, including stock appreciation awards. Under the Plan, the Company has issued restricted stock options to key employees. Stock options that were issued prior to December 31, 2017 were issued with an exercise price of $7.90 and stock options issued between December 31, 2017 and April 26, 2022 were issued with an exercise price of $6.00. All stock options vest over four years on a straight-line basis and expire no later than ten years from the date of grant.

Stock-based compensation expense of $72,975 and $28,198 for the nine months ended September 30, 2022 and 2021, respectively, is included in general and administrative expenses on the condensed statements of operations. As of September 30, 2022, there was $395,121 of unrecognized compensation costs related to non-vested share-based compensation arrangements granted to key employees under the Plan. These costs are expected to be recognized over a weighted average period of 3.44 years.

The following table summarizes the assumptions used to estimate the fair value of stock options granted during the nine months ended September 30, 2022 and 2021. There were 3,980 stock options granted for the nine months ended September 30, 2021 and 6,900 stock options granted during the six months ended September 30, 2022.

---

| | | |
|:---|:---|:---|
|  **Inputs** | **February 25, <br>2021** | **April 26, <br>2022** |
|  Risk-free rate | 1.1% | 2.8% |
|  Expected term (in years) | 6.25 | 6.25 |
|  Expected volatility | 70.0% | 78.0% |
|  Expected dividend yield | 0.0% | 0.0% |
|  Weighted average grant date fair value | $4.07 | $53.59 |

---

The risk-free interest rate is based on the rate for a U.S. government security with the same estimated life at the time of the option grant and the stock purchase rights. The expected term of the stock options was estimated using the simplified method. The Company estimated its future stock volatility considering the observed volatility of companies with similar operations. Management believes this is the best estimate of the expected volatility over the expected life of its stock options and stock purchase rights. The estimated dividend yield is based on the Company's history of not paying dividends.

The following table summarizes the stock option activity for the nine months ended September 30, 2022:

---

| | | | |
|:---|:---|:---|:---|
|  | **Number of Shares** | **Weighted Average Exercise Price** | **Weighted Average Remaining Contractual Term in<br>Years** |
|  Outstanding at December 31, 2021 | 23740 | $6.87 | 5.82 |
| &nbsp;&nbsp;&nbsp; Granted | 6900 | $76.70 | 9.58 |
| &nbsp;&nbsp;&nbsp; Exercised |  |  |  |
| &nbsp;&nbsp;&nbsp; Forfeited | (225) | $72.54 | 9.51 |
|  Outstanding at September 30, 2022 | 30415 | $22.43 | 8.50 |
|  Options exercisable at September 30, 2022 | 20138 | $9.34 | 5.90 |

---

The intrinsic value of all options outstanding and exercisable is immaterial for all periods presented.

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 17 — Net (Loss) Income Per Share
Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares of common stock outstanding does not include any potentially dilutive securities.

Diluted loss per share is based upon the weighted-average number of common shares outstanding during the period plus additional weighted-average of potentially dilutive shares resulting from warrants, stock options, preferred stock, and convertible notes to the extent they are dilutive. For the nine months ended September 30, 2022, and 2021, all such common stock equivalents have been excluded from diluted net loss per share as the effect to net loss per share would be anti-dilutive.

The following table sets forth the computation of the Company's basic and diluted net loss per share:

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended <br>September 30,** | **Nine Months Ended <br>September 30,** |
|  | **2022** | **2021** |
|  Numerator: |  |  |
|  Net Loss | (3597765) | (1322927) |
|  Net Loss Attributable to Common Stockholders | (3597765) | (1322927) |
|  Denominator: |  |  |
|  Weighted-Average Number of Shares of Common Stock | 33807 | 33807 |
|  Basic and Diluted Net Loss per Share | (106.42) | (39.13) |

---

The following table represents the potential shares that were excluded from the computation of weighted-average number of shares of common stock in computing the diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:

---

| | | |
|:---|:---|:---|
|  | **September 30,** | **September 30,** |
|  | **2022** | **2021** |
|  Shares of common stock issuable upon conversion of Series A Preferred Stock<sup>1</sup> | 64490 | 64157 |
|  Shares of common stock issuable upon conversion of Series B Preferred Stock<sup>2</sup> | 64537 | 63986 |
|  Shares of common stock issuable upon conversion of convertible debt | 48647 | 47225 |
|  Stock options | 30415 | 22810 |
|  Common stock equivalent of warrants upon conversion into common shares<sup>3</sup> | 3156 | 3789 |

---

____________

1 Series A shares are convertible to one share of common stock.

2 Series B shares are convertible into 1.67 shares of common stock.

3 The outstanding 333 warrants for Series A shares as of September 30, 2021 convert to 333 shares of common stock. The outstanding 195 and 345 warrants for Series B shares as of September 30, 2022 and 2021 convert to 390 and 690 shares of common stock, respectively. As of September 30, 2022 and 2021, there were 2,961 outstanding warrants for common stock.

#### Note 18 — Income Taxes
Our tax provision for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items arising in that quarter. Our effective tax rate differs from the U.S. statutory tax rate primarily due to valuation allowances on our deferred tax assets as it is more likely than not that some or all of our deferred tax assets will not be realized. Accordingly, we recorded no Income tax expense for the nine month period ended September 30, 2022 and 2021.

[**Table of Contents**](#TOC001)

#### T1V, INC. <br> NOTES TO CONDENSED FINANCIAL STATEMENTS

#### Note 19 — Subsequent Events
Events and transactions occurring after September 30, 2022, have been evaluated to determine proper recognition and disclosure in the financial statements. Subsequent events and transactions were evaluated through September 30, 2022, which represents the date the financial statements were available to be issued.

#### Stock-Based Compensation
In October 2022, the Company issued an additional 550 common stock options, which is described in Note 16, to key employees. The stock options were issued with an exercise price of $26.52. The stock options vest over four years on a straight-line basis and expire no later than ten years from the date of grant.

#### Government Grants
In October 2022, the Company received $294,000 in government grants through Phase 2 of the North Carlina Business Recovery Grant Program as a result of the impact from the COVID-19 pandemic.

#### Stockholder Warrants
In October 2022, the holder exercised all of the outstanding warrants for 210 shares of Series B Preferred Stock.

[**Table of Contents**](#TOC001)

**T1V, INC.**

#### Shares

#### Class A Common Stock
*Sole Book Running Manager*

![](tefhutton_logo.jpg)

**EF HUTTON**

division of Benchmark Investments, LLC

**PRELIMINARY PROSPECTUS**

Through and including , 2023, (the 25<sup>th</sup> day after the date of this prospectus), all dealers effecting transactions in the Shares whether or not participating in this Offering, may be required to deliver a prospectus. This delivery requirement is in addition to a dealer's obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.

------

[**Table of Contents**](#TOC001)

#### Part II

#### INFORMATION NOT REQUIRED IN PROSPECTUS

#### Item 13. Other Expenses of Issuance and Distribution.
The following table indicates the expenses to be incurred in connection with the offering described in this registration statement (the "Offering"), other than underwriting discounts and commissions, the underwriter non-accountable expense allowance and payment for underwriter out-of-pocket costs, all of which will be paid by us. All amounts are estimated except the Securities Exchange Commission (SEC) registration fee, the Financial Industry Regulatory Authority, Inc. (FINRA) filing fee and The Nasdaq Stock Market LLC ("Nasdaq") exchange listing fee.

---

| | |
|:---|:---|
|  | **Amount** |
|  SEC registration fee | $5363 |
|  FINRA filing fee | 7800 |
|  Nasdaq listing fee | 50000 |
|  Accountants' fees and expenses | 50000 |
|  Legal fees and expenses | 250000 |
|  Transfer Agent's/Warrant Agent's fees and expenses | 1000 |
|  Printing and engraving expenses | 46000 |
|  Miscellaneous | 500 |
|  Total expenses | $410663 |

---

____________

\* To be provided by amendment.

#### Item 14. Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law authorizes a court to award, or a corporation's board of directors to grant, indemnity to directors and officers in terms sufficiently broad to permit such indemnification under certain circumstances for liabilities, including reimbursement for expenses incurred, arising under the Securities Act of 1933, as amended (the "Securities Act"). Our second amended and restated certificate of incorporation that will be in effect upon the completion of the Offering permits indemnification of our directors, officers, employees and other agents to the maximum extent permitted by the Delaware General Corporation Law, and our amended and restated bylaws that will be in effect upon the completion of the Offering provide that we will indemnify our directors and officers and permit us to indemnify our employees and other agents, in each case to the maximum extent permitted by the Delaware General Corporation Law.

We have entered into indemnification agreements with our directors and officers, whereby we have agreed to indemnify our directors and officers to the fullest extent permitted by law, including indemnification against expenses and liabilities incurred in legal proceedings to which the director or officer was, or is threatened to be made, a party by reason of the fact that such director or officer is or was a director, officer, employee or agent of T1V, Inc., provided that such director or officer acted in good faith and in a manner that the director or officer reasonably believed to be in, or not opposed to, the best interest of T1V, Inc. At present, there is no pending litigation or proceeding involving a director or officer of T1V, Inc. regarding which indemnification is sought, nor is the registrant aware of any threatened litigation that may result in claims for indemnification.

We maintain insurance policies that indemnify our directors and officers against various liabilities arising under the Securities Act and the Exchange Act that might be incurred by any director or officer in his or her capacity as such.

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

#### Item 15. Recent Sales of Unregistered Securities.
The information below lists all of the securities sold by us during the past three years which were not registered under the Securities Act:

[**Table of Contents**](#TOC001)

At three closings on February 5, 2020, February 28, 2020 and May 4, 2020, the Company raised an aggregate of $622,432.50 in a convertible debt financing investment round pursuant to which the Company issued unsecured convertible notes to 14 accredited investors in an aggregate principal amount of $622,432.50, which accrue interest at 7% per year (the "2020 Notes"). The 2020 Notes will automatically convert upon the closing of the Company's initial public offering ("IPO") into an aggregate of 200,368 shares of the Company's Class A Common Stock based on a conversion price equal to 80% of the public offering price of a share of Class A Common Stock in the IPO (giving effect to the reclassification of our shares of common stock to Class A Common Stock and the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part). These convertible notes mature on December 31, 2022 and contain customary default provisions. We issued the foregoing securities in transactions not involving an underwriter and not requiring registration under Section 5 of the Securities Act of 1933, as amended, in reliance on the exemption afforded by Section 4(a)(2) thereof and Regulation D promulgated thereunder.

At two closings on February 5, 2020 and February 28, 2020, the Company issued unsecured convertible notes in exchange for the outstanding principal amount and interest of previously issued notes to 8 accredited investors in an aggregate principal amount of $441,048.21, which accrue interest at 7% per year (the "2020 Rollover Notes"). The 2020 Rollover Notes will automatically convert upon the closing of the Company's IPO into an aggregate of 131,983 shares of the Company's Class A Common Stock based on a conversion price equal to 80% of the public offering price of a share of Class A Common Stock in the IPO (giving effect to the reclassification of our shares of common stock to Class A Common Stock, an assumed initial public offering price of $5.15 per unit, which is the midpoint of the range set forth on the cover page of this prospectus, and the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part). These convertible notes mature on December 31, 2022 and contain customary default provisions. We issued the foregoing securities in transactions not involving an underwriter and not requiring registration under Section 5 of the Securities Act of 1933, as amended, in reliance on the exemption afforded by Section 4(a)(2) thereof and Regulation D promulgated thereunder.

On March 31, 2021, the Company issued to three of its lenders ten-year warrants to purchase an aggregate of 69,150 shares of at an exercise price of $0.10 per share (giving effect to the reclassification of our shares of common stock to Class A Common Stock and the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part). We issued the foregoing securities in transactions not involving an underwriter and not requiring registration under Section 5 of the Securities Act of 1933, as amended, in reliance on the exemption afforded by Section 4(a)(2).

In May 2021, the Company issued 600 shares of Series B Preferred Stock to one accredited investor in full satisfaction of previously issued warrants to purchase an aggregate of 1,058 shares of Series B Preferred Stock at an exercise price of $84.40 per share. We issued the foregoing securities in transactions not involving an underwriter and not requiring registration under Section 5 of the Securities Act of 1933, as amended, in reliance on the exemption afforded by Section 4(a)(2).

From November 2021 to July 2022, the Company issued convertible notes to 14 accredited investors in an aggregate principal amount of $2,294,250, at an original issue discount of 15%, in consideration for the payment of an aggregate of $1,995,000 (the "2022 Convertible Notes"). The 2022 Convertible Notes will automatically convert upon the closing of this Offering into an aggregate of 689,359 shares of the Company's Class A Common Stock based on a conversion price equal to $3.70 (giving effect to the reclassification of our shares of common stock to Class A Common Stock and the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part and prior to the completion of this Offering). We issued the foregoing securities in transactions not involving an underwriter and not requiring registration under Section 5 of the Securities Act of 1933, as amended, in reliance on the exemption afforded by Section 4(a)(2).

On April 24, 2022, the Company issued to three of its lenders ten-year warrants to purchase an aggregate of 17,225 shares of Class A Common Stock at an exercise price of $0.10 per share (giving effect to the reclassification of our shares of common stock to Class A Common Stock and the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part). We issued the foregoing securities in transactions not involving an underwriter and not requiring registration under Section 5 of the Securities Act of 1933, as amended, in reliance on the exemption afforded by Section 4(a)(2).

[**Table of Contents**](#TOC001)

In July 2022, the Company executed convertible promissory notes with multiple investors in an aggregate principal amount of $414,000 (the "July 2022 Notes"). The July 2022 Notes will automatically convert upon the closing of the Company's IPO into an aggregate of 122,660 shares of the Company's Class A Common Stock based on a conversion price equal to (i) for 25% of the amount of principal and interest: a $17,500,000 valuation and (ii) for the remaining 75% of the amount of principal and interest: 80% of the initial public offering price in this Offering (giving effect to the reclassification of our shares of common stock to Class A Common Stock and the Split at a ratio of 25-for-1, as authorized and approved by our board of directors, which is subject to the approval of our stockholders, and which Split will be completed prior to the effectiveness of the registration statement of which this prospectus forms a part and prior to the completion of this Offering). These convertible notes mature in July 2023 and contain customary default provisions. We issued the foregoing securities in transactions not involving an underwriter and not requiring registration under Section 5 of the Securities Act of 1933, as amended, in reliance on the exemption afforded by Section 4(a)(2) thereof and Regulation D promulgated thereunder.

#### Item 16. Exhibits and Financial Statement Schedules.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Exhibits.

---

| | |
|:---|:---|
|  **Exhibit <br>No.** | **Description** |
|  1.1\* | [Form of Underwriting Agreement](fs12023ex1-1_t1vinc.htm) |
|  3.1\* | [Form of Amended and Restated Certificate of Incorporation of the Registrant, to be effective prior to the completion of the Offering](fs12023ex3-1_t1vinc.htm) |
|  3.2\* | [Form of Amendment to the Amended and Restated Certificate of Incorporation of the Registrant, to be effective prior to the completion of the Offering.](fs12023ex3-2_t1vinc.htm) |
|  3.3\* | [Form of Second Amended and Restated Certificate of Incorporation of the Registrant, to be effective immediately prior to the completion of the Offering](fs12023ex3-3_t1vinc.htm) |
|  3.4\* | [Form of Amended and Restated Bylaws of the Registrant, to be effective immediately prior to the completion of the Offering](fs12023ex3-4_t1vinc.htm) |
|  4.1\* | [<u>Specimen Class A Common Stock Certificate</u>](fs12023ex4-1_t1vinc.htm) |
|  4.2\* | [Form of Warrant Agency Agreement](fs12023ex4-2_t1vinc.htm) |
|  4.3\* | [Form of Representative Warrant](fs12023ex4-3_t1vinc.htm) |
|  4.4\* | [2013 Convertible Promissory Note, dated September 28, 2013](fs12023ex4-4_t1vinc.htm) |
|  4.5\* | [2014 Convertible Promissory Note, dated March 10, 2014](fs12023ex4-5_t1vinc.htm) |
|  4.6\* | [First Amendment to the 2013 Convertible Promissory Note and the 2014 Convertible Promissory Note, dated August 13, 2015](fs12023ex4-6_t1vinc.htm) |
|  4.7\* | [Second Amendment to the 2013 Convertible Promissory Note and the 2014 Convertible Promissory Note, dated February 5, 2020, between the Company and T1 Investment, LLC](fs12023ex4-7_t1vinc.htm) |
|  4.8\* | [Second Amendment to the 2013 Convertible Promissory Note, the 2014 Convertible Promissory Note and the 2015 Convertible Promissory Note, dated February 5, 2020, between the Company and WH&W Private Market Investment Fund I, LLC](fs12023ex4-8_t1vinc.htm) |
|  4.9\* | [Form of 2015 Convertible Promissory Note, dated March 2, 2015](fs12023ex4-9_t1vinc.htm) |
|  4.10\* | [Form of 2015 Convertible Promissory Note, dated March 31, 2015](fs12023ex4-10_t1vinc.htm) |
|  4.11\* | [Form of 2020 Rollover Convertible Promissory Note, dated February 5, 2020](fs12023ex4-11_t1vinc.htm) |
|  4.12\* | [Form of 2022 Convertible Promissory Note, dated February 28, 2022](fs12023ex4-12_t1vinc.htm) |
|  4.13\* | [Form of Decathlon Alpha II, L.P. Warrant](fs12023ex4-13_t1vinc.htm) |
|  4.14\* | [Form of 2023 Warrant for Purchase of Shares of Class A Common Stock](fs12023ex4-14_t1vinc.htm) |
|  5.1\* | [Opinion of Ellenoff Grossman & Schole LLP](fs12023ex5-1_t1vinc.htm) |
|  10.1\*+ | [Form of Employment Agreement by and between the Registrant and Michael Feldman](fs12023ex10-1_t1vinc.htm) |
|  10.2\*+ | [Form of Employment Agreement by and between the Registrant and James Morris](fs12023ex10-2_t1vinc.htm) |
|  10.3\*+ | [Form of Employment Agreement by and between the Registrant and Adam Loritsch](fs12023ex10-3_t1vinc.htm) |
|  10.4\* | [Revenue Loan and Security Agreement with Decathlon Alpha II, L.P., including Amendments 1 through 8 thereto](fs12023ex10-4_t1vinc.htm) |
|  10.5\* | [Form of Indemnification Agreement](fs12023ex10-5_t1vinc.htm) |
|  10.6\*+ | [2014 Stock Incentive Plan](fs12023ex10-6_t1vinc.htm) |
|  10.7\*+ | [2019 Stock Incentive Plan](fs12023ex10-7_t1vinc.htm) |

---

[**Table of Contents**](#TOC001)

---

| | |
|:---|:---|
|  **Exhibit <br>No.** | **Description** |
|  10.8\*+ | [Form of 2023 Equity Incentive Plan](fs12023ex10-8_t1vinc.htm) |
|  10.9\* | [Form of Debt Conversion Agreement between the Company and Decathlon Alpha III, L.P.](fs12023ex10-9_t1vinc.htm) |
|  10.10\* | [Form of Debt Conversion Agreement between the Company, Christopher McKee, and WH&W Private Market Investment Fund I, LLC](fs12023ex10-10_t1vinc.htm) |
|  10.11\* | [Form of 2023 Note Conversion Agreement](fs12023ex10-11_t1vinc.htm) |
|  10.12\* | [Form of 2023 Note Conversion Agreement between the Company and Ross Annable](fs12023ex10-12_t1vinc.htm) |
|  10.13\* | [Form of 2023 Warrant Cancellation Agreement](fs12023ex10-13_t1vinc.htm) |
|  14.1\* | [Form of Code of Business Conduct and Ethics](fs12023ex14-1_t1vinc.htm) |
|  23.1\* | [Consent of BF Borgers CPA PC](fs12023ex23-1_t1vinc.htm) |
|  23.2\* | [Consent of Ellenoff Grossman & Schole LLP (included in Exhibit 5.1)](fs12023ex5-1_t1vinc.htm) |
|  24.1\* | [Power of Attorney (included on signature page)](#T555) |
|  99.1\* | [Form of Audit Committee Charter](fs12023ex99-1_t1vinc.htm) |
|  99.2\* | [Form of Compensation Committee Charter](fs12023ex99-2_t1vinc.htm) |
|  99.3\* | [Form of Nominating and Corporate Governance Committee Charter](fs12023ex99-3_t1vinc.htm) |
|  99.4\* | [Consent of David Almagor to be named as a Director Nominee](fs12023ex99-4_t1vinc.htm) |
|  99.5\* | [Consent of Tracy Clifford to be named as a Director Nominee](fs12023ex99-5_t1vinc.htm) |
|  107\* | [Filing Fee Table](fs12023ex-fee_t1vinc.htm) |

---

____________

\* Filed herewith.

+ Management contract or compensatory plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Financial Statement Schedules.**

All other schedules for which provision is made in the applicable accounting regulations of the SEC are not required under the related instructions, or are inapplicable, and therefore have been omitted.

#### Item 17. Undertakings.
The undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreement certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant under 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 Securities 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 securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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 under 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

[**Table of Contents**](#TOC001)

#### 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 Charlotte, State of North Carolina, on January 24, 2023.

---

| | |
|:---|:---|
|  **T1V, INC.** | **T1V, INC.** |
|  By: | /s/ Michael Feldman |
|  | Michael Feldman |
|  | President and Chief Executive Officer |

---

#### POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Michael Feldman, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in their name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to sign any registration statement for the same offering covered by this registration statement that is to be effective on filing pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and all post-effective amendments thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his or her substitute or substitutes, 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/ Michael Feldman | President, Chief Executive Officer and Director | January 24, 2023 |
|  Michael Feldman | *(Principal Executive Officer)* |  |
|  /s/ Diane Thompson | Chief Financial Officer | January 24, 2023 |
|  Diane Thompson | *(Principal Financial Officer and Principal Accounting Officer)* |  |
|  /s/ Dieter Woelfle |  | January 24, 2023 |
|  Dieter Woelfle | Director |  |
|  /s/ James Morris |  | January 24, 2023 |
|  James Morris | Chief Technology Officer and Director |  |
|  John Stein | Director |  |
|  /s/ Christopher McKee |  | January 24, 2023 |
|  Christopher McKee | Director |  |

---

## Exhibit 1.1

**Exhibit 1.1**

**UNDERWRITING AGREEMENT**

Dated [____________] [__], 2023

Between

**T1V, INC.**

(a Delaware corporation),

**SELLING STOCKHOLDERS OF T1V, INC.** 

*named on Schedule II attached hereto (for the sole purpose of the Over-Allotment Option)*

And

**EF HUTTON, Division of Benchmark Investments, LLC**

*as Representative of the several Underwriters named on Schedule I attached hereto*

<br> **TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **Article I. DEFINITIONS** | **1** |
| **Article II. PURCHASE AND SALE** | **7** |
| **Article III. REPRESENTATIONS AND WARRANTIES** | **12** |
| **Article IV. OTHER AGREEMENTS OF THE PARTIES** | **26** |
| **Article V. DEFAULT BY UNDERWRITERS** | **32** |
| **Article VI. INDEMNIFICATION** | **32** |
| **Article VII. MISCELLANEOUS** | **36** |
| **Schedule I Schedule of Underwriters** | **41** |
| **Schedule II Schedule of Selling Stockholders** | **42** |
| **Schedule III Pricing Information** | **43** |
| **Schedule IV Lock-Up Parties** | **44** |
| **Schedule V Written Testing-the-Waters Communications** | **45** |
| **DISCLOSURE SCHEDULES** | **46** |
| **EXHIBITS** | **51** |

---

i

**T1V, INC.**

**<u>UNDERWRITING AGREEMENT</u>**

[____________] [__], 2023

EF Hutton, division of Benchmark Investments, LLC

*as Representative of the several Underwriters named on Schedule I attached hereto*<br> 590 Madison Avenue, 39th Floor

New York, NY 10022

Ladies and Gentlemen:

The undersigned, T1V, Inc., a company incorporated under the laws of the State of Delaware (the ***"Company"***), and certain stockholders of the Company (the ***"Selling Stockholders"***) named on Schedule II attached hereto (for the sole purpose of the Over-Allotment Option), hereby confirm their agreement (this ***"Agreement"***) with the several underwriters (such underwriters, including the Representative (as defined below), the ***"Underwriters"*** and each an ***"Underwriter"***) named in Schedule I hereto for which EF Hutton, division of Benchmark Investments, LLC (***"EF Hutton"***), is acting as representative to the several Underwriters (in such capacity, the ***"Representative"*** and if there are no Underwriters other than the Representative, references to multiple Underwriters shall be disregarded and the term Representative as used herein shall have the same meaning as Underwriter) on the terms and conditions set forth herein. References made to Selling Stockholders shall relate solely to the Over-Allotment Option and not the Offering.

It is understood that the several Underwriters are to make a public offering of the Firm Securities (as defined below) as soon as the Representative deems it advisable to do so. The Firm Securities are to be initially offered to the public at the public offering price set forth in the Prospectus. The Representative may from time to time thereafter change the public offering price and other selling terms.

It is further understood that EF Hutton will act as the Representative for the Underwriters in the offering and sale of the Firm Securities (as defined below) and, if any, the Option Securities (as defined below) in accordance with this Agreement.

**Article I.<br> DEFINITIONS**

**Section 1.01** <u>Definitions</u>. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings set forth in this <u>Section 1.01</u>.

"***Action***" shall have the meaning ascribed to such term in <u>Section 3.01(k)</u>.

***"Advance"*** shall have the meaning ascribed to such term in <u>Section 4.06(d)</u>.

***"Affiliate"*** means with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with such Person as such terms are used in and construed under Rule 405 under the Securities Act.

***"Agreement"*** shall have the meaning ascribed to such term in the initial paragraph.

***"Authorizations"*** mean all requisite power and authority, and all necessary consents, approvals, authorizations, orders, registrations, qualifications, licenses, filings, and permits of, with and from all governmental, judicial, regulatory, or administrative agency, body, or court, domestic or foreign, having jurisdiction over the Company or any of their assets or business and all third parties, foreign and domestic.

***"Benefit Arrangements"*** shall have the meaning ascribed to such term in <u>Section 3.01(pp)</u>.

***"BHCA"*** shall have the meaning ascribed to such term in <u>Section 3.01(jj)</u>.

***"Board"*** means the Board of Directors of the Company.

***"Business Day"*** 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* that banks shall not be deemed to be authorized or obligated to be closed due to a "shelter in place," "non-essential employee," or similar closure of physical branch locations at the direction of any governmental authority if such banks' electronic funds transfer systems (including for wire transfers) are open for use by customers on such day.

***"Class A Common Stock"*** means the shares of Class A Common Stock of the Company, par value $0.001 per share, each share having one (1) vote per share.

***"Class B Common Stock"*** means the shares of Class B Common Stock of the Company, par value $0.001 per share, each share having ten (10) votes per share.

***"Closing"*** means the closing of the purchase and sale of the Firm Securities pursuant to <u>Section 2.01</u>.

***"Closing Date"*** means the hour and the date on the Trading Day on which all conditions precedent to (i) the Underwriters' obligations to pay the Purchase Price and (ii) the Company's obligations to deliver the Firm Securities, in each case, have been satisfied or waived, but in no event later than 10:00 a.m. (New York City time) on the second (2nd) Trading Day following the date hereof or at such earlier time as shall be agreed upon by the Representative and the Company.

***"Code"*** means the Internal Revenue Code of 1986, as amended.

 ***"Commission"*** means the United States Securities and Exchange Commission.

***"Common Stock"*** means the Class A Common Stock and Class B Common Stock, and any other class of securities into which such securities may hereafter be reclassified or changed.

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

***"Company"*** shall have the meaning ascribed to such term in the initial paragraph of this Agreement.

***"Company Auditor"*** means CF Borgers CPA PC with offices located at 5400 West Cedar Avenue<br> Lakewood, CO 80226.

***"Company IT Systems"*** shall have the meaning ascribed to such term in <u>Section 3.01(qq)</u>.

***"Company's Counsel"*** means Ellenoff Grossman & Schole LLP with offices located at 1345 Avenue of the Americas, New York, New York 10105.

***"Company Disclosure Schedules"*** means the disclosure schedules of the Company delivered concurrently herewith.

***"DTC"*** means The Depositary Trust Company.

***"DWAC"*** means DTC's Deposit and Withdrawal and Custodian service.

***"EDGAR"*** shall have the meaning ascribed to such term in <u>Section 3.01(f)</u>.

***"EF Hutton"*** shall have the meaning ascribed to such term in the initial paragraph of this Agreement.

***"Effective Date"*** means the date and time as of which the Registration Statement became effective in accordance with the rules and regulations under the Securities Act.

***"Employee Plans"*** shall have the meaning ascribed to such term in <u>Section 3.01(pp)</u>.

***"Engagement Agreement"*** shall have the meaning ascribed to such term in <u>Section 3.01(u)</u>.

***"Environmental Laws"*** shall have the meaning ascribed to such term in <u>Section 3.01(n)</u>.

***"ERISA"*** shall have the meaning ascribed to such term in <u>Section 3.01(pp)</u>.

***"ERISA Affiliate"*** shall have the meaning ascribed to such term in <u>Section 3.01(pp)</u>.

***"Exchange Act"*** means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

***"Execution Date"*** shall mean the date on which the parties execute and enter into this Agreement.

***"Exempt Issuance"*** means the issuance of (a) shares of Common Stock, restricted stock, restricted stock units, or options to employees, officers, consultants or other service providers, or directors of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board or a majority of the members of a committee of non-employee directors established for such purpose, for services rendered to the Company, (b) securities upon the exercise or exchange of or conversion of any Securities issued hereunder including, without limitation, the Representative's Warrants and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement, *provided* that such securities have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price, or conversion price of such securities (other than in connection with automatic price resets, stock splits, adjustments, or combinations as set forth in such securities) or to extend the term of such securities, and (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company.

***"FCPA"*** means the Foreign Corrupt Practices Act of 1977, as amended.

***"Federal Reserve"*** shall have the meaning ascribed to such term in <u>Section 3.01(jj)</u>.

***"Final Prospectus"*** shall have the meaning ascribed to such term in <u>Section 3.01(f)</u>.

***"FINRA"*** means the Financial Industry Regulatory Authority.

***"Firm Securities"*** means the Firm Shares and Firm Warrants.

***"Firm Shares"*** shall have the meaning ascribed to such term in <u>Section 2.01(a)</u>.

***"Firm Warrants"*** shall have the meaning ascribed to such term in <u>Section 2.01(a)</u>.

***"Forward Stock Split"*** shall have the meaning ascribed to such term in <u>Section 3.01(rr)</u>.

***"GAAP"*** shall have the meaning ascribed to such term in <u>Section 3.01(i)</u>.

***"General Disclosure Package"*** shall have the meaning ascribed to such term in <u>Section 3.01(f)</u>.

***"Hazardous Materials"*** shall have the meaning ascribed to such term in <u>Section 3.01(n)</u>.

***"Indebtedness"*** means (a) any liabilities for borrowed money or amounts owed in excess of $150,000 (other than trade accounts payable incurred in the ordinary course of business); (b) all guaranties, endorsements, and other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected in the Company's consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (c) the present value of any lease payments in excess of $150,000 due under leases required to be capitalized in accordance with GAAP.

***"Intellectual Property Rights"*** shall have the meaning ascribed to such term in <u>Section 3.01(q)</u>.

***"Lien"*** means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right, or other restriction.

***"Lock-Up Agreements"*** mean the lock-up agreements that are delivered on the date hereof by each of the Company's officers, directors, selling stockholders, greater than 5% stockholders, and affiliates in the form of <u>Exhibit A</u> attached hereto.

***"Material Adverse Effect"*** shall have the meaning assigned to such term in <u>Section 3.01(b)</u>.

***"Material Permit"*** shall have the meaning ascribed to such term in <u>Section 3.01(ff)</u>.

***"Money Laundering Laws"*** shall have the meaning ascribed to such term in <u>Section 3.01(kk)</u>.

***"Offering"*** means the public offering of the Firm Securities and the Option Securities, if any.

***"Offering Price"*** means the public offering price per Class A Common Stock set forth on Schedule III attached hereto.

***"Option Closing Date"*** shall have the meaning ascribed to such term in <u>Section 2.02(b)</u>.

***"Option Purchase Price"*** means the aggregate purchase price of the Option Shares on an Option Closing Date net of the underwriting discounts and commissions.

***"Option Securities"*** shall have the meaning ascribed to such term in <u>Section 2.01(a)</u>

***"Option Shares"*** shall have the meaning ascribed to such term in <u>Section 2.01(a)</u>

***"Option Warrants"*** shall have the meaning ascribed to such term in <u>Section 2.01(a)</u>.

***"Over-Allotment Option"*** shall have the meaning ascribed to such term in <u>Section 2.02(a)</u>

***"Permitted Free-Writing Prospectus"*** shall have the meaning set forth in <u>Section 4.02(c)</u>.

***"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.

***"Preliminary Prospectus"*** shall have the meaning ascribed to such term in <u>Section 3.01(f)</u>.

***"Pricing Prospectus"*** shall have the meaning ascribed to such term in <u>Section 3.01(h)</u>.

***"Proceeding"*** 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.

***"Prospectus"*** shall have the meaning ascribed to such term in <u>Section 3.01(f)</u>.

***"Purchase Price"*** means the aggregate purchase price net of underwriting discounts and commissions.

***"Registration Statement"*** shall have the meaning ascribed to such term in <u>Section 3.01(f)</u> .

***"Representative"*** shall have the meaning ascribed to such term in the initial paragraph of this Agreement.

***"Representative's Warrant"*** shall have the meaning ascribed to such term in <u>Section 2.01(d)</u>.

***"Representative's Warrant Shares"*** shall have the meaning ascribed to such term in <u>Section 2.01(d)</u>.

***"Required Approvals"*** shall have the meaning ascribed to such term in <u>Section 3.01(e)</u>.

***"returns"*** shall have the meaning ascribed to such term in <u>Section 3.01(cc)</u>.

***"Rule 144"*** means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

***"Rule 424"*** means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

***"Rule 462 Registration Statement"*** shall have the meaning ascribed to such term in <u>Section 3.01(f)</u>.

***"Rules and Regulations"*** shall have the meaning ascribed to such term in <u>Section 3.01(f)</u>.

***"Securities"*** means the Firm Shares, the Option Shares, the Representative's Warrant and the Representative's Warrant Shares.

***"Securities Act"*** means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

***"Selling Stockholders Disclosure Schedules"*** means the disclosure schedules of the Selling Stockholders delivered concurrently herewith.

***"Selling Stockholder Information"*** shall have the meaning set forth in <u>Section 3.02(g)</u>.

***"Selling Stockholders"*** shall mean the stockholders of the Company listed on Schedule II attached hereto.

***"Share Purchase Price"*** shall have the meaning set forth in <u>Section 2.01(a)</u>.

***"Shares"*** shall have the meaning ascribed to such term in <u>Section 2.01(a)</u>.

***"Subject Transaction"*** shall have the meaning ascribed to such term in <u>Section 4.20</u>.

***"Subsidiary"*** means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

***"taxes"*** shall have the meaning ascribed to such term in <u>Section 3.01(cc)</u>.

***"Testing-the-Waters Communication"*** shall have the meaning ascribed to such term in <u>Section 3.01(yy)</u>.

***"Trading Day"*** means a day on which the principal Trading Market is open for trading.

***"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 OTCQB Venture Market, 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).

***"Transaction Documents"*** means this Agreement and all exhibits and schedules hereto, the form of Warrant, the Warrant Agency Agreement, the Lock-Up Agreements, and any other documents or agreements executed in connection with the transactions contemplated hereunder.

***"Transfer Agent"*** means Vstock Transfer, LLC and any successor transfer agent of the Company.

***"UCC"*** shall have the meaning set forth in <u>Section 3.02(c)</u>.

***"Underwriter"*** shall have the meaning ascribed to such term in the initial paragraph of this Agreement.

***"Underwriter's Counsel"*** means Carmel, Milazzo & Feil LLP, with offices located at 55 W. 39th St., 18th Floor, New York, NY 10018.

***"Underwriters' Information"*** shall have the meaning ascribed to such term in <u>Section 6.01</u>.

***"Unit"*** or ***"Units"*** shall have the meaning set forth in <u>Section 2.01(a)</u>.

***"Unit Purchase Price"*** shall have the meaning set forth in <u>Section 2.01(a)</u>.

***"Warrant Agency Agreement"*** means the warrant agent agreement by and between the Company and the Warrant Agent, dated on or before the Closing Date, for the purpose of administering the Warrants, in the form of <u>Exhibit F</u> attached hereto.

***"Warrant Agent"*** means Vstock Transfer, LLC and any successor warrant agent of the Company.

***"Warrant Purchase Price"*** shall have the meaning set forth in <u>Section 2.01(a)</u>.

***"Warrant Shares"*** means the shares of Common Stock issuable upon exercise of the Firm Warrants and Option Warrants.

***"Warrants"*** means the Firm Warrants and Option Warrants, each in the form of a Global Warrant Certificate, in the form attached as an exhibit to the Warrant Agency Agreement.

***"Written Testing-the-Waters Communication"*** shall have the meaning ascribed to such term in <u>Section 3.01(yy)</u>.

**Article II.<br> PURCHASE AND SALE**

**Section 2.01** <u>Closing</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon the terms and subject to the conditions set forth herein, the Company agrees to sell in the aggregate [______] units (the ***"Units"***), with each Unit consisting of: (i) one (1) share of Common Stock (the ***"Firm Shares"***) and (ii) one (1) warrant with the right to purchase one share of Common Stock (the ***"Firm Warrants"***) and is exercisable immediately and expiring five years after the date of issuance at an exercise price of $[__]<sup>[1]</sup> per share of Common Stock, and each Underwriter agrees to purchase, severally and not jointly, at the Closing, the number of Firm Shares and Firm Warrants set forth opposite the name of such Underwriter on Schedule I attached hereto and made a part hereof included in the Units at a purchase price of $[**______]** per Unit (the ***"Unit Purchase Price"***). The Units are to be offered initially to the public at the offering price set forth on the cover page of the Prospectus. The purchase price for each Unit will be allocated as $[______] per Firm Share (***"Share Purchase Price"***) and $0.15 per Firm Warrant (***"Warrant Purchase Price"***).

<sup>1</sup> 110% of the initial public offering price of the Unit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On the Closing Date, each Underwriter shall deliver or cause to be delivered to the Company, via wire transfer of immediately available funds equal to such Underwriter's Purchase Price and the Company shall deliver to, or as directed by, such Underwriter the Units and the Company shall deliver the other items required pursuant to deliverable at the Closing. Upon satisfaction of the covenants and conditions set forth in <u>Section 2.03</u> and <u>Section 2.04</u>, the Closing shall occur at the offices of the Underwriter's Counsel or such other location (including remotely by facsimile or other electronic transmission) as the Company and the Representative shall mutually agree. The Units are to be offered initially to the public at the offering price set forth on the cover page of the Prospectus (the ***"Offering"***).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Units have no stand-alone rights or obligations and will not be certificated or issued as stand-alone securities. The Firm Shares and the Firm Warrants comprising the Units are immediately separable and will be issued separately at the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) On the Closing Date, the Company also shall deliver to the Representative a Warrant (<u>the</u> ***"Representative's Warrant"***) to purchase up to a number of shares of Class A Common Stock (the ***"Representative's Warrant Shares"***) equal to five percent (5%) of the aggregate number of Firm Shares sold on the Closing Date for the account of the Representative (or its designees), which Representative's Warrant shall have an exercise price of $[____] (110% of the Offering Price), subject to adjustment therein, and registered in the name of the Representative (or its designees). The Representative Warrant shall have a term of five (5) years, be first exercisable 180 days following from the commencement of sales and shall provide for registration rights (including a one-time demand registration right and unlimited piggyback rights) and customary anti-dilution provisions.

**Section 2.02** <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;(a) For the purposes of covering any over-allotments in connection with the distribution and sale of the Units, the Representative is hereby granted an option (the ***"Over-Allotment Option"***) to purchase up to (i) [______] shares of Class A Common Stock, representing fifteen percent (15%) of the Firm Shares sold in the Offering (the ***"Option Shares"*** and together with the Firm Shares, the ***"Shares"***), at the Purchase Price, and/or (ii) [_____] Firm Warrants (the ***"Option Warrants"*** and, together with the Option Shares, the ***"Option Securities"***), which may be purchased at the Unit Purchase Price; *provided* that to the extent the underwriters exercise the Over-Allotment Option, all of the Option Shares purchased upon the exercise of the Over-Allotment Option will be purchased from the Selling Stockholders on a pro rata basis and all of the Option Warrants will be purchased from the Company. In connection with an exercise of the Over-Allotment Option, the purchase price to be paid for any (i) Option Shares is equal to the product of the Share Purchase Price *multiplied* by the number of Option Shares to be purchased and (ii) Option Warrants is equal to the product of the Warrant Purchase Price *multiplied* by the number of Option Warrants to be purchased. The Company will not receive any proceeds from the sale of the Option Shares by the Selling Stockholders to the Underwriters pursuant to the Over-Allotment Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Over-Allotment Option granted pursuant to this <u>Section 2.02</u> may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Securities within forty-five (45) days after the Effective Date. An Underwriter will not be under any obligation to purchase any Option Securities prior to the exercise of the Over-Allotment Option by the Representative. The Over-Allotment Option granted hereby may be exercised by the giving of oral notice to the Company and the Selling Stockholders, as the case may be, from the Representative, which must be promptly confirmed in writing by overnight mail or facsimile or other electronic transmission setting forth the number of Option Securities to be purchased and the date and time for delivery of and payment for the Option Securities (each, an ***"Option Closing Date"***), which will not be later than the earlier of (i) forty-five (45) days after the Effective Date and (ii) two (2) full Business Days after the date of the notice or such other time as shall be agreed upon by the Company and the Selling Stockholders, as the case may be, and the Representative, at the offices of the Underwriter's Counsel, or at such other place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Company and the Selling Stockholders, as the case may be, and the Representative. If such delivery and payment for the Option Securities does not occur on the Closing Date, each Option Closing Date will be as set forth in the notice. The Representative may cancel the Over-Allotment Option at any time prior to the expiration of the Over-Allotment Option by written notice to the Company and the Selling Stockholders, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 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 Selling Stockholders, severally and jointly, agree to sell, on a pro rata basis, up to the number of Option Shares set forth on Schedule II attached hereto to the several Underwriters; (ii) the Company agrees to sell up to the number of Option Warrants, exercised to be purchased, to the several Underwriters; and (iii) each of the Underwriters, acting severally and not jointly, shall purchase up to that portion of the total number of the Option Shares and Option Warrants then being purchased as set forth on Schedule I opposite their respective names.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Payment for the Option Shares and/or Option Warrants shall be made on the applicable Option Closing Date, if any, by wire transfer in U.S. dollars in immediately available funds, to the accounts specified by the Company and the Selling Stockholders (as applicable) at the offices of the Underwriters' Counsel and the upon delivery to the Representative of certificates (in form and substance satisfactory to the Underwriters) representing the Option Shares or the Option Warrants, as applicable, (or through the facilities of DTC or via DWAC transfer) for the account of the Underwriters. The Option Shares and/or Options Warrants shall be registered in such name or names and in such authorized denominations as the Representative may request in writing prior to the applicable Option Closing Date, if any. Neither the Company nor the Selling Stockholders shall be obligated to sell or deliver the Option Shares or Option Warrants, asp applicable, except upon tender of payment by the Representative for applicable Option Shares and/or Option Warrants, as applicable.

 

**Section 2.03** <u>Deliverables</u>. The Company and the Selling Stockholders, as the case may be, shall deliver or cause to be delivered to each Underwriter (if applicable) the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On the Closing Date, the Firm Shares, and, as to each Option Closing Date, if any, the applicable Option Shares, which securities shall be delivered via DWAC for the accounts of the several Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On the Closing Date, the Firm Warrants, and, as to each Option Closing Date, if any, the applicable Option Warrants, which securities shall be delivered via DWAC for the accounts of the several Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) On the Closing Date and at each Option Closing Date, if any, the duly executed and delivered legal opinion and negative assurance letter of Company's Counsel addressed to the Underwriters, dated as of the Closing Date and each Option Closing Date, if any, in form and substance satisfactory to counsel to the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) On the Closing Date and at each Option Closing Date, if any, the duly executed and delivered legal opinion and negative assurance letter of Company's intellectual property counsel addressed to the Underwriters, dated as of the Closing Date and each Option Closing Date, if any, in form and substance satisfactory to counsel to the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) On the Closing Date and at each Option Closing Date, if any, the duly executed and delivered legal opinion and negative assurance letter of each Selling Stockholder's Counsel addressed to the Underwriters, dated as of the Closing Date and each Option Closing Date, if any, in form and substance satisfactory to counsel to the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Contemporaneously herewith, a comfort letter, addressed to the Underwriters and in form and substance satisfactory in all respects to the Representative from the Company Auditor dated, respectively, as of the date of this Agreement and a bring-down letter dated as of the Closing Date and each Option Closing Date, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) On or prior to the Closing Date, the Lock-Up Agreements, in substantially the form required by <u>Exhibit A</u>, which shall be in full force and effect as of the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) On the Closing Date and on each Option Closing Date, if any, the duly executed and delivered Officers' Certificate, substantially in the form required by <u>Exhibit B</u> attached hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) On each Option Closing Date, if any, the duly executed and delivered Selling Stockholder's Certificate from the applicable Selling Stockholders, substantially in the form required by <u>Exhibit C</u> attached hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) On the Closing Date and on each Option Closing Date, if any, the duly executed and delivered Secretary's Certificate, substantially in the form required by <u>Exhibit D</u> attached hereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) On the Closing Date and on each Option Closing Date, if any, a duly executed and delivered Chief Financial Officer's Certificate, substantially in the form required by <u>Exhibit E</u> attached hereto, addressed to the Underwriters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) On the Closing Date, a fully executed Warrant Agency Agreement in substantially the form required by <u>Exhibit F;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) On the Closing Date, the Representative's Warrant, in substantially the form required by <u>Exhibit G</u>, for the applicable number of Representative's Warrant Shares, as applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Such other customary certificates or documents as the Underwriters and Underwriter's Counsel may have reasonably requested.

**Section 2.04** <u>Closing Conditions</u>. The respective obligations of each Underwriter hereunder in connection with the Closing and each Option Closing Date, if any, as the case may be, 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;(a) the accuracy in all material respects when made and on the date in question (other than representations and warranties of the Company and the Selling Stockholders already qualified by materiality, which shall be true and correct in all respects) of the representations and warranties of the Company and the Selling Stockholders contained herein (unless as of a specific date therein);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all obligations, covenants, and agreements of the Company and the Selling Stockholders required to be performed at or prior to the date in question shall have been performed or such performance shall have been waived by the Representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the delivery by the Company and the Selling Stockholders, as the case may be, of the items set forth in <u>Section 2.03</u> of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Registration Statement shall be effective on the date of this Agreement and at each of the Closing Date and each Option Closing Date, if any, no stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall have been instituted or shall be pending or contemplated by the Commission and any request on the part of the Commission for additional information shall have been complied with to the reasonable satisfaction of the Representative;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) by the Execution Date, if required by FINRA, the Underwriters shall have received a notice of no objections from FINRA as to the amount of compensation allowable or payable to and the terms and arrangements for acting as 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;(f) the shares of Class A Common Stock, including the Firm Shares, and the Option Shares, shall have been approved for listing on The Nasdaq Capital Market, subject to official notice of issuance and evidence of satisfactory distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Warrants, including the Firm Warrants and the Option Warrants, if any, have been approved for listing on The Nasdaq Capital Market, subject to official notice of issuance and evidence of satisfactory distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Company has effectuated the Forward Stock Split;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Company has filed with the Commission a Form 8-A (File No: 000-[______]) providing for the registration pursuant to Section 12(b) under the Exchange Act of the shares of Class A Common Stock and the Warrants; and such Form 8-A has become effective under the Exchange Act. The Company has taken no action designed to, or likely to have the effect of, terminating the registration of the shares of Class A Common Stock nor the Warrants under the Exchange Act, nor has the Company received any notification that the Commission is contemplating terminating such registration; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) 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 General Disclosure Package, and Prospectus; (ii) no action suit or proceeding, at law or in equity, shall have been pending or threatened against the Company or any Affiliate of the Company 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 General Disclosure Package, and Prospectus; (iii) no stop order applicable to the Company shall have been issued under the Securities Act and no proceedings therefor shall have been initiated or threatened by the Commission; (iv) since the date of the latest balance sheet included in the Registration Statement, the General Disclosure Package, or the Prospectus, the Company has not incurred any material liabilities or obligations, direct or contingent, nor has it entered into any material transactions not in the ordinary course of business, other than pursuant to this Agreement and the transactions referred to herein or those liabilities, obligations, and transactions which are disclosed in the Registration Statement, the General Disclosure Package, and the Prospectus; (v) the Company has not paid or declared any dividends or other distributions of any kind on any class of its capital stock; (vi) the Company has not altered its method of accounting; and (vii) the Registration Statement, the General 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 rules and regulations thereunder and shall conform in all material respects to the requirements of the Securities Act and the rules and regulations thereunder, and neither the Registration Statement, the General 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.

If any of the conditions specified in this <u>Section 2.04</u> shall not have been fulfilled when and as required by this Agreement, or if any of the certificates, opinions, written statements, or letters furnished to the Representative or to Representative's counsel pursuant to this <u>Section 2.04</u> shall not be reasonably satisfactory in form and substance to the Representative and to Representative's counsel, all obligations of the Underwriters hereunder may be cancelled by the Representative at, or at any time prior to, the consummation of the Closing. Notice of such cancellation shall be given to the Company and the Selling Stockholders in writing or orally. Any such oral notice shall be confirmed promptly thereafter in writing.

**Article III.<br> REPRESENTATIONS AND WARRANTIES**

**Section 3.01** <u>Representations and Warranties of the Company</u>. Except as set forth in the Company Disclosure Schedules, which shall be deemed a part hereof and shall qualify any representation or otherwise made herein to the extent of the disclosure contained in the corresponding section of the Company Disclosure Schedules, the Company represents and warrants to the Underwriters as of the Execution Date, as of the Closing Date, and as of each Option Closing Date, if any, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Subsidiaries*. All of the Subsidiaries of the Company are set forth in the Prospectus. To the extent that the Company does not have any Subsidiaries, all references to a Subsidiary or Subsidiaries herein are not relevant. The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable, and free of preemptive and similar rights to subscribe for or purchase securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Organization and Qualification*. Each of the Company and its Subsidiaries is an entity duly incorporated or otherwise organized, validly existing, and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws, or other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in: (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 (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) *Authorization; Enforcement*. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and each of the other Transaction Documents to which it is a party and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board, or the Company's stockholders in connection herewith or therewith other than in connection with the Required Approvals. This Agreement and each other Transaction Document to which the Company 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. When issued, the Warrants will constitute valid and binding obligations of the Company to issue and sell, upon exercise thereof and payment of the exercise price therefor, the number and type of securities of the Company called for thereby in accordance with the terms thereof and the Warrants are enforceable against the Company in accordance with their terms; *provided*, *however*, that the enforceability thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium, and similar laws relating to or affecting creditors' rights generally and by general principles of equity (regardless of whether such enforceability is considered a proceeding in equity or at law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *No Conflicts*. The execution, delivery, and performance by the Company of this Agreement and the other Transaction Documents to which it is a party, the issuance and sale of the Securities, and the consummation by it of the transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the Company's or any Subsidiary's certificate or articles 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, 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 a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), 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) *Company Filings, Consents, and Approvals*. The Company is not required to obtain any consent, waiver, authorization, or order of, give any notice to, or make any filing or registration 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) the filing with the Commission of the Prospectus, (ii) such filings as are required to be made under applicable state securities laws, (iii) the rules and regulations of FINRA, and (iv) application(s) to each applicable Trading Market for the listing of the Shares and the Warrants for trading thereon in the time and manner required thereby (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) *Registration Statement*. The Company has filed with the Commission the Registration Statement, including any related Preliminary Prospectus or Prospectuses, for the registration of the Securities under the Securities Act, which Registration Statement has been prepared by the Company in conformity in all material respects with the requirements of the Securities Act and the rules and regulations of the Commission under the Securities Act (the **"Rules and Regulations"**). The registration of the Class A Common Stock and the Warrants under the Exchange Act has been declared effective by the Commission on the date hereof. Copies of such Registration Statement and of each amendment thereto, if any, including the related Preliminary Prospectuses, heretofore filed by the Company with the Commission have been delivered to the Underwriters. The term **"Registration Statement"** means such registration statement on Form S-1 (File No. 333-[________]), as amended, as of the relevant Effective Date, including financial statements, all exhibits and any information deemed to be included or incorporated by reference therein, including any information deemed to be included pursuant to Rule 430A or Rule 430B of the Securities Act. If the Company files a registration statement to register a portion of the Securities and relies on Rule 462(b) of the Securities Act for such registration statement to become effective upon filing with the Commission (the **"Rule 462 Registration Statement"**), then any reference to the **"Registration Statement"** shall be deemed to include the Rule 462 Registration Statement, as amended from time to time. The term **"Preliminary Prospectus"** as used herein means a preliminary prospectus as contemplated by Rule 430 or Rule 430A of the Securities Act as included at any time as part of, or deemed to be part of or included in, the Registration Statement. The Preliminary Prospectus relating to the Securities that was included in the Registration Statement immediately prior to the pricing of the offering contemplated hereby is hereinafter called the ***"Pricing Prospectus."*** The term ***"Final Prospectus"*** means the final prospectus in connection with the Offering as first filed with the Commission pursuant to Rule 424(b) of the Securities Act and the rules and regulations thereunder or, if no such filing is required, the form of final prospectus included in the Registration Statement at the Effective Date, except that if any revised prospectus or prospectus supplement shall be provided to the Representative by the Company for use in connection with the Securities which differs from the Pricing Prospectus (whether or not such revised prospectus or prospectus supplement is required to be filed by the Company pursuant to Rule 424(b)), the term ***"Prospectus"*** shall also refer to such revised prospectus or prospectus supplement, as the case may be, from and after the time it is first provided to the Representative for such use. Any reference herein to the terms "amend," "amendment," or "supplement" with respect to the Registration Statement, any Preliminary Prospectus, Pricing Prospectus, or the Final Prospectus shall be deemed to refer to and include: (i) the filing of any document under the Exchange Act after the Effective Date, the date of such Pricing Prospectus or the date of the Final Prospectus, as the case may be, which is incorporated therein by reference, and (ii) any such document so filed. All references in this Agreement to the Registration Statement, a Preliminary Prospectus, Pricing Prospectus, and the Final Prospectus, or any amendments or supplements to any of the foregoing, shall be deemed to include any copy thereof filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval System (***"EDGAR"***). The term ***"General Disclosure Package"*** means, collectively, the Permitted Free Writing Prospectus(es) (as defined below) issued at or prior to the date hereof, the most recent preliminary prospectus related to the Offering, and the information included on Schedule I and Schedule III hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) *Issuance of Class A Common Stock and Warrants*. The Firm Shares, Option Shares, and Warrant Shares are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, and free and clear of all Liens imposed by the Company. The Company has reserved from its duly authorized capital stock the maximum number of shares of Common Stock issuable pursuant to the exercise of the Warrants. The Firm Shares, Option Shares, and Warrant Shares 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. All corporate action required to be taken for the authorization, issuance, and sale of the Firm Shares, Option Shares, and Warrant Shares has been duly and validly taken. The Firm Shares, Option Shares, and Warrant Shares will conform in all material respects to all statements with respect thereto contained in the Registration Statement, the General Disclosure Package, and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) *Capitalization*. The capitalization of the Company as of the date hereof is as set forth in the Registration Statement, General Disclosure Package, and Prospectus under the heading "Capitalization." Except as set forth in the Registration Statement, General Disclosure Package, and Prospectus, the Company has not issued any capital stock since its most recently filed periodic report under the Exchange Act, other than pursuant to the exercise of employee stock options under the Company's stock option plans, the issuance of shares of Common Stock to employees pursuant to the Company's employee stock purchase plans, and pursuant to the conversion and/or exercise of Common Stock Equivalents outstanding as of the date of the most recently filed periodic report under the Exchange Act. No Person other than the Representative 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 such rights which have been waived prior to the date hereof. Except as set forth in the Prospectus or a result of the purchase and sale of the Securities, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights, or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock or the capital stock of any Subsidiary, or contracts, commitments, understandings, or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents or the capital stock of any Subsidiary. Except as disclosed in the Registration Statement, the issuance and sale of the Securities will not obligate the Company or any Subsidiary to issue shares of Common Stock or other securities to any Person (other than the Underwriters). Other than as disclosed in the Final Prospectus, there are no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions, and there are no contracts, commitments, understandings, or arrangements by which the Company or any Subsidiary is or may become bound to redeem a security of the Company or such Subsidiary. Except as disclosed on the Registration Statement, the Company does not have any stock appreciation rights or "phantom stock" plans or agreements or any similar plan or agreement. All of the outstanding shares of capital stock of the Company (including the Shares to be sold by the Selling Stockholders at each Option Closing Date, if any) are duly authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities and other laws or the applicable statute of limitations has expired, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. The authorized shares of the Company conform in all material respects to all statements relating thereto contained in the Registration Statement, the General Disclosure Package, and the Prospectus. The offers and sales of the Company's securities 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, exempt from such registration requirements or the applicable statute of limitations has expired. No further approval or authorization of any stockholder, the Board, or others is required for the issuance and sale of the Securities. Other than what is disclosed in the Prospectus, there are no stockholders agreements, voting agreements, or other similar agreements with respect to the Company's capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of the Company's stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Financial Statements and other Financial Data*. The financial statements of the Company included in the Registration Statement, the Preliminary Prospectus, the General Disclosure Package, and the Prospectus comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements 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 except that unaudited financial statements may not contain all footnotes required by GAAP, 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. The agreements and documents described in the Registration Statement, the Preliminary Prospectus, the General Disclosure Package, and the Prospectus conform in all material aspects to the descriptions thereof contained therein and there are no agreements or other documents required by the Securities Act and the rules and regulations thereunder to be described in the Registration Statement, the Preliminary Prospectus, the General Disclosure Package, or 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 or a Subsidiary is a party or by which it or such Subsidiary is or may be bound or affected and (i) that is referred to in the Registration Statement, the General Disclosure Package, or the Prospectus or (ii) is material to the Company's business, has been duly authorized and validly executed by the Company or a Subsidiary, respectively, is in full force and effect in all material respects and is enforceable against the Company or such Subsidiary 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 therefore may be brought. Except as described in the Registration Statement, none of such agreements or instruments has been assigned by the Company or Subsidiary, and neither the Company nor, to the Company's knowledge, a Subsidiary or any other party is in default thereunder and, to the Company's knowledge, no event has occurred that, with the lapse of time or the giving of notice, or both, would constitute a default thereunder. To the Company's knowledge, performance by the Company or the Subsidiary 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, a Subsidiary, or any of their assets or businesses, including, without limitation, those relating to environmental laws and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) *Material Changes; Undisclosed Events, Liabilities or Developments*. Since the date of the latest unaudited financial statements included within the Registration Statement, except as specifically disclosed in the Registration Statement, the Preliminary Prospectus, the General Disclosure Package, or the Prospectus, (i) there has been no event, occurrence, or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company's financial statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has 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, and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock option plans and the issuance of Common Stock Equivalents as disclosed in the Registration Statement. The Company does not have pending before the Commission any request for confidential treatment of information. Except for the issuance of the Securities contemplated by this Agreement, no event, liability, fact, circumstance, occurrence, or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective businesses, prospects, properties, operations, assets, or financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least one (1) Trading Day prior to the date that this representation is made. Unless otherwise disclosed in the Registration Statement, the Company has not: (i) issued any securities 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) *Litigation*. Except as set forth in the Registration Statement, General Disclosure Package, and Prospectus, there has not been, and to the knowledge of the Company there is not pending or contemplated, any action, suit, inquiry, notice of violation, proceeding, or investigation pending or, to the knowledge of the Company, threatened against or affecting the Company, 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 (i) 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. Neither the Company nor any Subsidiary, nor, to the Company's knowledge, any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. To the knowledge of the Company, there has not been, and there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company. The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act or the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) *Labor Relations*. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company's or the Subsidiaries' employees is a member of a union that relates to such employee's relationship with the Company or such Subsidiary, and neither the Company nor any of the Subsidiaries are a party to a collective bargaining agreement, and the Company and the Subsidiaries believe that their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or any Subsidiary, 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 of the Subsidiaries to any liability with respect to any of the foregoing matters that would reasonably be expected to have a Material Adverse Effect. The Company and the 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) *Compliance*. Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan, or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree, or order of any court, arbitrator, or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance, or regulation of any governmental authority, including without limitation all foreign, federal, state, and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety, and employment and labor matters, except in each case 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;(n) *Environmental Laws*. The Company and the Subsidiaries (i) are in compliance with all federal, state, local, and foreign laws relating to pollution or protection of human health or the environment (including ambient air, surface water, groundwater, land surface, or subsurface strata), including laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants, or toxic or hazardous substances or wastes (collectively, ***"Hazardous Materials"***) into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport, or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands, or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations, issued, entered, promulgated, or approved thereunder (***"Environmental Laws"***); (ii) have received all permits licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses; and (iii) are in compliance with all terms and conditions of any such permit, license, or approval where in each clause (i), (ii), and (iii), the failure to so comply could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) *Authorizations*. The Company has filed and received approval of all Authorizations issued by, and has made all declarations and filings with all federal, state, local, or foreign governmental or regulatory authority that are necessary for the ownership or lease of its properties or the conduct of its business as described in the Registration Statement, the General Disclosure Package, and the Prospectus. To its knowledge, the Company is in compliance with and is not in violation of, or in default under, any such Authorization. To the knowledge of the Company, no event has occurred which allows, or after notice or lapse of time would allow, revocation, termination, or modification of any Authorization or result in any other material impairment of the rights of the holder of any Authorization and the Company does not have any reason to believe that any Authorization will not be renewed in the ordinary course.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) *Title to Assets*. Except as described in the Registration Statement, the General Disclosure Package, or the Prospectus, the Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them and good and marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens for the payment of federal, state, or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting, and enforceable leases with which the Company and the Subsidiaries are in compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) *Intellectual Property*. Except as disclosed in the Registration Statement, General Disclosure Package, and Prospectus, the Company and the Subsidiaries have, or have 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 it believes are necessary or required for use in connection with their respective businesses as described in the Registration Statement, the General Disclosure Package, or the Prospectus and which the failure to so could have a Material Adverse Effect (collectively, the ***"Intellectual Property Rights"***). To the knowledge of the Company, the Company is not now infringing, and except as disclosed in the Prospectus, upon commercialization will not infringe, any valid claim of any issued patents, copyrights, or trademarks of others. The Company has not conducted a "freedom to operate" study. Neither the Company nor any Subsidiary has received a notice (written or otherwise) that any of the Intellectual Property Rights has expired, terminated, or been abandoned, or is expected to expire or terminate or be abandoned, within two (2) years from the date of this Agreement, except where such action would not reasonably be expected to have a Material Adverse Effect. Other than as specifically described in the Registration Statement, the General Disclosure Package, or the Prospectus, neither the Company nor any Subsidiary has received, since the date of the latest audited financial statements included within the Registration Statement, the General Disclosure Package, or the Prospectus, a written notice of a claim or otherwise has any knowledge that the Company's products or planned products as described in the Registration Statement, the General Disclosure Package, or the Prospectus violate or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have a Material Adverse Effect. To the knowledge of the Company, all of the Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights. The Company and the Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality, and value of all of their intellectual properties, except where failure to do so 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;(r) *Insurance*. The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and, to their knowledge, customary in the businesses in which the Company and the Subsidiaries are engaged. The Company has in effect directors and officers liability insurance and a "key man" life insurance policy with an insurer rated at least AA or better in the most recent edition of "Best's Life Reports" on the life of Michael Feldman. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) *Transactions With Affiliates and Employees*. Except as set forth in the Registration Statement, General Disclosure Package or Prospectus, none of the officers or directors of the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers, and directors), including any contract, agreement, or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, providing for the borrowing of money from or lending of money to or otherwise requiring payments to or from, any officer, director, or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee, stockholder, member, or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company, and (iii) other employee benefits, including, without limitation, 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;(t) *Sarbanes-Oxley; Internal Accounting Controls*. The Company and its subsidiaries maintain systems of "internal control over financial reporting" (as defined in Rule 13a-15(f) of the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the supervision of, their 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. The Company and its subsidiaries maintain 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. The Company's internal control over financial reporting is effective (it being understood that the Company is not required as of the date hereof to comply with Section 404 of the Sarbanes-Oxley Act) and the Company is not aware of any material weaknesses in its internal control over financial reporting (whether or not remediated). Since the date of the most recent balance sheet included in the Registration Statement, the General Disclosure Package and the Final Prospectus, (x) the Company's auditors and the audit committee of the board of directors of the Company have not been advised of (A) any significant deficiencies or material weaknesses in the design or operation of the internal control over financial reporting of the Company and its subsidiaries which could adversely affect the Company's ability to record, process, summarize, and report financial data; or (B) any fraud, whether or not material, that involves management or other employees who have a role in the internal control over financial reporting of the Company or its subsidiaries; and (y) there have been no significant changes in the internal control over financial reporting of the Company or its subsidiaries or in other factors that could significantly affect, such internal control over financial reporting, including any corrective actions with regard to significant deficiencies or material weaknesses, since the respective dates as of which information is given in the Registration Statement, the General Disclosure Package and the Final Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) *Certain Fees*. Except as set forth in the Registration Statement, General Disclosure Package, and Prospectus or in <u>Section 2.01(d)</u>, <u>Section 4.06(d)</u>, <u>Section 4.06(e)</u> and <u>Section 7.01(b)</u> of this Agreement, no brokerage or finder's fees or commissions are or will be payable by the Company, any Subsidiary, or Affiliate of the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank, or other Person with respect to the transactions contemplated by the Transaction Documents. There are no 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. Other than payments to the Underwriters for the Offering or as disclosed in the Registration Statement or set forth under <u>Section 2.01(a)Section 2.01(b)</u> of this Agreement, or may be made pursuant to the Engagement Agreement dated as of July 26, 2021 (the ***"Engagement Agreement"***), the Company has not made and has no agreements, arrangements, or understanding to make any direct or indirect payments (in cash, securities, or otherwise) 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) other than what is disclosed on Company Disclosure Schedule 3.01(u), any person or entity that has any direct or indirect affiliation or association with any FINRA member, within the one hundred eighty (180)-day period preceding the initial filing of the Registration Statement through the ninety (90)-day period after the Effective Date. 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;(v) *Investment Company*. 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 become 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;(w) *Registration Rights*. No Person has any right to cause the Company or any Subsidiary to effect the registration under the Securities Act of any securities of the Company or any Subsidiary, other than those rights that have been disclosed in the Registration Statement, the General Disclosure Package, or the Prospectus or that have been waived or otherwise satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) *Compliance with Exchange Act*. (i) The Class A Common Stock and the Warrants are registered pursuant to Section 12(b) of the Exchange Act and the Company has filed with the Commission a Form 8-A (File No. 000-[______]) providing for the registration of the Class A Common Stock and the Warrants pursuant to Section 12(b) under the Exchange Act, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Class A Common Stock nor the Warrants under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration. The Class A Common Stock and the Warrants are currently eligible for electronic transfer through The Depository Trust Company or another established clearing corporation and the Company is current in payment of the fees of The Depository Trust Company (or such other established clearing corporation) in connection with such electronic transfer. The shares of Class A Common Stock, including the Firm Shares and Option Shares, have been approved for listing on The Nasdaq Capital Market. The Warrants, including the Firm Warrants and Option Warrants, have been approved for listing on The Nasdaq Capital Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such applicable listing and maintenance requirements of The Nasdaq Capital Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) *Application of Takeover Protections*. Except as set forth in the Registration Statement the General Disclosure Package, and the Prospectus, the Company and the Board 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, as amended (or similar charter documents) or the laws of its state of incorporation that is or could become applicable as a result of the Underwriters and the Company fulfilling their obligations or exercising their rights under the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) *Disclosure; 10b-5*. The Registration Statement (and any further documents to be filed with the Commission in connection with the Offering) contains all exhibits and schedules as required by the Securities Act. Each of the Registration Statement and any post-effective amendment thereto, if any, at the time it became effective, complied in all material respects with the Securities Act and the Exchange Act and did not and, as amended or supplemented, if applicable, will not, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, *provided*, *however*, that this representation and warranty shall not apply as to the information contained in or omitted from the General Disclosure Package in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of any Underwriter through the Representative specifically for inclusion in the General Disclosure Package (or any supplement thereto). The Preliminary Prospectus and the Prospectus, each as of its respective date, comply in all material respects with the Securities Act and the Exchange Act. The Prospectus, as amended or supplemented, did not and will not contain as of the date thereof any 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 the information contained in or omitted from the Prospectus in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of any Underwriter through the Representative specifically for inclusion in the Prospectus (or any supplement thereto). As of its date and the date hereof, the General Disclosure Package did not and does not include any untrue statement of a material fact or omitted to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. o post-effective amendment to the Registration Statement reflecting any facts or events arising after the date thereof which represent, individually or in the aggregate, a fundamental change in the information set forth therein is required to be filed with the Commission. There are no documents required to be filed with the Commission in connection with the transaction contemplated hereby that (x) have not been filed as required pursuant to the Securities Act or (y) will not be filed within the requisite time period. There are no contracts or other documents required to be described in the Preliminary Prospectus or the Prospectus, or to be filed as exhibits or schedules to the Registration Statement, which have not been described or filed as required. The press releases disseminated by the Company during the twelve (12) months preceding the date of this Agreement taken as a whole do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made and when made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) *No Integrated Offering*. Neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause the Offering of the Securities to be integrated with prior offerings by the Company for purposes of any applicable stockholder approval provisions of any Trading Market on which any of the securities of the Company are listed or designated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) *Solvency*. 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 of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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'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, consolidated and projected capital requirements and capital availability thereof, through the first six (6) months of 2023, 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;(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 does not intend to 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 (1) year from the Closing Date. Neither the Company nor any Subsidiary is 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;(cc) *Tax Status*. Except as set forth on Company Disclosure Schedule 3.01(cc), or any other matters that would not, individually or, in the aggregate, have or reasonably be expected to result in a Material Adverse Effect, the Company and the Subsidiaries each (i) has made or filed all United States federal, state, and local income and all foreign income and franchise tax returns, reports, and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports, and declarations, and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports, or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim. 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 taxes, whether or not disputed, and for all periods to and including the dates of such consolidated financial statements. The term ***"taxes"*** mean 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 whatsoever, together with any interest and any penalties, additions to tax, or additional amounts with respect thereto. The term ***"returns"*** mean all returns, declarations, reports, statements, and other documents required to be filed in respect to taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) *Foreign Corrupt Practices*. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment, or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person acting on its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision of FCPA. 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 FCPA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) *Accountants*. To the knowledge and belief of the Company, the Company Auditor (i) is an independent registered public accounting firm as required by the Exchange Act and (ii) either the Company Auditor or its replacement, shall express its opinion with respect to the financial statements to be included in the Company's Annual Report for the fiscal year ending December 31, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) *Regulatory*. The Company and the Subsidiaries possess all certificates, authorizations, and permits issued by the appropriate federal, state, local, or foreign regulatory authorities, or by any similar foreign, federal, state, or local governmental or regulatory authority performing functions similar to those performed by such authorities necessary to conduct their respective businesses as described in the Registration Statement, the General Disclosure Package, or the Prospectus, except where the failure to possess such permits could not reasonably be expected to result in a Material Adverse Effect (each, a ***"Material Permit"***), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any Material Permit. The disclosures in the Registration Statement concerning the effects of federal, state, local, and all foreign regulation on the Company's business as currently contemplated are correct in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) *Stock Option Plans*. As of the Execution Date, there are no outstanding stock options under the Company's stock incentive plans other than what is disclosed in the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) *Office of Foreign Assets Control*. 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *U.S. Real Property Holding Corporation*. 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 (the ***"Code"***), and the Company shall so certify upon the Representative's request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) *Bank Holding Company Act*. Neither the Company nor any of the Subsidiaries or Affiliates is subject to the Bank Holding Company Act of 1956, as amended (the ***"BHCA"***) and to regulation by the Board of Governors of the Federal Reserve System (the ***"Federal Reserve"***). Neither the Company nor any of the Subsidiaries or 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 the Subsidiaries or 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;(kk) *Money Laundering*. The operations of the Company and the 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, suit, 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 or any Subsidiary, threatened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll) *D&O Questionnaires*. To the Company's knowledge, all information contained in the questionnaires completed by each of the Company's directors and officers immediately prior to the Offering is true and correct in all respects and the Company has not become aware of any information which would cause the information disclosed in such questionnaires to become inaccurate and incorrect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) *FINRA Affiliation*. Except as disclosed on Company Disclosure Schedule 3.01(mm), no officer, director or, to the Company's knowledge, any beneficial owner of five percent (5%) or more of the Company's shares of Class A Common Stock or Common Stock Equivalents, has any direct or indirect affiliation or association with any FINRA member (as determined in accordance with the rules and regulations of FINRA) that is participating in the Offering. Except for securities purchased on the open market, no Company Affiliate is an owner of stock or other securities of any member of FINRA. No Company Affiliate has made a subordinated loan to any member of FINRA. Except as set forth in the Registration Statement, the General Disclosure Package, and the Prospectus, no proceeds from the sale of the Securities (excluding underwriting compensation as disclosed in the Registration Statement and the Prospectus) will be paid to any FINRA member, any persons associated with a FINRA member or an affiliate of a FINRA member. Except as disclosed in the Prospectus, the Company has not issued any warrants or other securities or granted any options, directly or indirectly, to the Representative or any of the Underwriters named on Schedule I hereto within the one hundred eighty (180)-day period prior to the initial filing date of the Prospectus. Except as disclosed in the Registration Statement and except for securities issued to the Representative as disclosed in the Prospectus and securities sold by the Representative on behalf of the Company, no person to whom securities of the Company have been privately issued within the one hundred eighty (180)-day period prior to the initial filing date of the Prospectus is a FINRA member, is a person associated with a FINRA member, or is an affiliate of a FINRA member. To the Company's knowledge, no FINRA member participating in the Offering has a conflict of interest with the Company. For this purpose, a "conflict of interest" exists when a FINRA member, the parent, or affiliate of a FINRA member or any person associated with a FINRA member in the aggregate beneficially own five percent (5%) or more of the Company's outstanding subordinated debt or common equity, or five percent (5%) or more of the Company's preferred equity. "FINRA member participating in the Offering" includes any associated person of a FINRA member that is participating in the Offering, any member of such associated person's immediate family, and any affiliate of a FINRA member that is participating in the Offering. "Any person associated with a FINRA member" means (1) a natural person who is registered or has applied for registration under the rules of FINRA and (2) a sole proprietor, partner, officer, director, or branch manager of a FINRA member, or other natural person occupying a similar status or performing similar functions, or a natural person engaged in the investment banking or securities business who is directly or indirectly controlling or controlled by a FINRA member. When used in this <u>Section 3.01(mm)</u> the term "affiliate of a FINRA member" or "affiliated with a FINRA member" means an entity that controls, is controlled by, or is under common control with a FINRA member. The Company will advise the Representative and Underwriter's Counsel if it learns that any officer, director, or owner of five percent (5%) or more of the Company's outstanding shares of Class A Common Stock or Common Stock Equivalents is or becomes an affiliate or associated person of a FINRA member firm.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) *Officers' Certificate*. Any certificate signed by any duly authorized officer of the Company and delivered to Underwriter's Counsel on behalf of the Representative 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo) *Board of Directors*. The Board is comprised of the persons set forth under the heading of the Prospectus captioned "Management." The qualifications of the persons serving as board members and the overall composition of the Board comply with the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder applicable to the Company and the rules of the Trading Market. At least one member of the Board qualifies as a "financial expert" as such term is defined under the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder and the rules of the Trading Market. In addition, at least a majority of the persons serving on the Board qualify as "independent" as defined under the rules of the Trading Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp) *ERISA*. The Company is not a party to an "employee benefit plan," as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (***"ERISA"***), which: (i) is subject to any provision of ERISA and (ii) is or was at any time maintained, administered, or contributed to by the Company or any of its ERISA Affiliates (as defined hereafter). These plans are referred to collectively herein as the ***"Employee Plans."*** An ***"ERISA Affiliate"*** of any person or entity means any other person or entity which, together with that person or entity, could be treated as a single employer under Section 414(b), (c), (m), or (o) of the Code. Each Employee Plan has been maintained in material compliance with its terms and the requirements of applicable law. No Employee Plan is subject to Title IV of ERISA. The Registration Statement, the Preliminary Prospectus, and the Prospectus identify each employment, severance, or other similar agreement, arrangement, or policy and each material plan or arrangement required to be disclosed pursuant to the Rules and Regulations providing for insurance coverage (including any self-insured arrangements), workers' compensation, disability benefits, severance benefits, supplemental unemployment benefits, vacation benefits, or retirement benefits, or deferred compensation, profit-sharing, bonuses, stock options, stock appreciation rights, or other forms of incentive compensation, or post-retirement insurance, compensation, or benefits, which: (i) is not an Employee Plan; (ii) is entered into, maintained or contributed to, as the case may be, by the Company or any of its ERISA Affiliates; and (iii) covers any officer or director or former officer or director of the Company or any of its ERISA Affiliates. These agreements, arrangements, policies, or plans are referred to collectively as ***"Benefit Arrangements."*** Each Benefit Arrangement has been maintained in material compliance with its terms and with the requirements of applicable law. Except as disclosed in the Registration Statement, the Preliminary Prospectus, and the Prospectus, there is no liability in respect of post-retirement health and medical benefits for retired employees of the Company or any of its ERISA Affiliates, other than medical benefits required to be continued under applicable law. No "prohibited transaction" (as defined in either Section 406 of ERISA or Section 4975 of the Code) has occurred with respect to any Employee Plan; and each Employee Plan that is intended to be qualified under Section 401(a) of the Code is so qualified, and nothing has occurred, whether by action or by failure to act, which could cause the loss of such qualification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq) *IT Systems*. Except as would not, individually or in the aggregate, have a Material Adverse Effect, the Company reasonably believes that (i) the Company and the 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 the Subsidiaries (the ***"Company IT Systems"***), (ii) the Company IT Systems are adequate for, and operate and perform as required in connection with, the operation of the business of the Company and the Subsidiaries as currently conducted, and (iii) the Company and the Subsidiaries have implemented reasonable backup, security, and disaster recovery technology consistent with applicable regulatory standards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr) *Forward Stock Split*. The Company has the requisite corporate power and authority, and has obtained all requisite approval or authorization of any stockholder, the Board, or others, in order to effect the forward stock split of the Company's outstanding shares of Class A Common Stock (the ***"Forward Stock Split"***) as described in the Registration Statement, the General Disclosure Package, and the Prospectus. No further approval or authorization of any stockholder, the Board, or others is required in order to effect the Forward Stock Split.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss) *Ineligible Issuer Status*. At the time of filing the Registration Statement and at the date hereof, the Company was and is an ***"***ineligible issuer," as defined under Rule 405 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt) *Industry Data; Forward-Looking Statements.* The statistical and market-related data included in each of the Registration Statement, the General 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. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu) *Related Party Transactions.* 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 General Disclosure Package, and the Prospectus that have not been described as required by the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv) *Lock-Up Agreements*. Schedule IV hereto contains a complete and accurate list of the Company's officers, directors, and certain owners of record of the Company's outstanding shares of Class A Common Stock to deliver to the Representative an executed Lock-Up Agreement, in a form substantially similar to that attached hereto as <u>Exhibit A</u>, prior to the execution of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww) *Loans to Directors or Officers.* 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 General Disclosure Package, and the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) *Emerging Growth Company*. From the time of the initial confidential submission of the Registration Statement to the Commission (or, if earlier, the first date on which the Company engaged directly in or through any Person authorized to act on its behalf in any Testing-the Waters Communication) through the date hereof, the Company has been and is an "emerging growth company," as defined in Section 2(a) of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy) *Testing-the-Waters Communications*. The Company has not (i) alone engaged in any Testing-the-Waters Communications and (ii) authorized anyone to engage in Testing-the-Waters Communications. 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 V 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; ***"Testing-the-Waters Communication"*** means any oral or written communication with potential investors undertaken in reliance on Section 5(d) of the Securities Act.

**Section 3.02** <u>Representations and Warranties of the Selling Stockholders</u>. Except as set forth in the Selling Stockholders Disclosure Schedules, which shall be deemed a part hereof and shall qualify any representation or otherwise made herein to the extent of the disclosure contained in the corresponding section of the Selling Stockholders Disclosure Schedules, each of the Selling Stockholders severally and not jointly represents and warrants to each Underwriter and the Company as of each Option Closing Date, if any, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Authorization; Enforcement*. All consents, approvals, authorizations, and orders necessary for the execution and delivery by such Selling Stockholder of this Agreement, and for the sale and delivery of the Option Shares to be sold by such Selling Stockholder hereunder, have been obtained, except for such consents, approvals, authorizations, orders and registrations or qualifications as have already been obtained or made or as may be required by FINRA, The Nasdaq Stock Market LLC, or under applicable state securities laws in connection with the purchase and distribution of the Option Shares by the Underwriters; and such Selling Stockholder has full right, power, and authority to enter into this Agreement and to sell, assign, transfer, and deliver the Option Shares to be sold by such Selling Stockholder hereunder; and this Agreement has been duly authorized, executed, and delivered by such Selling Stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *No Conflicts*. The execution, delivery, and performance by such Selling Stockholder of this Agreement and the sale of the Option Shares to be sold by such Selling Stockholder and the consummation by such Selling Stockholder of the transactions contemplated herein or therein will not (i) 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 such Selling Stockholder, 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 such Selling Stockholder debt or otherwise) or other understanding to which such Selling Stockholder is a party or by which any property or asset of such Selling Stockholder is bound or affected, (ii) result, to the extent applicable, in any violation of the terms or provisions of the charter or bylaws or similar organizational document of such Selling Stockholder, or (iii) result in any violation of any statute or any order, rule, or regulation of any court or governmental agency or body having jurisdiction over such Selling Stockholder or any of his, her, or its respective properties, except in the case of clauses (i) and (iii) above, as would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of such Selling Stockholder to consummate the transactions contemplated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Title to Shares*. Such Selling Stockholder has good and valid title to the Option Shares to be sold at the applicable Option Closing Date by such Selling Stockholder hereunder, free and clear of all Liens; such Selling Stockholder will have, immediately prior to the applicable Option Closing Date, good and valid title to the Option Shares to be sold at the applicable Option Closing Date by such Selling Stockholder, free and clear of all Liens; and, such Selling Stockholder has a security entitlement (within the meaning of Section 8-102(a)(17) of the New York Uniform Commercial Code (***"UCC"***)) to the Option Shares maintained in a securities account on the books of the DTC free and clear of any action that may be asserted based on an adverse claim with respect to such security entitlement, and assuming that each Underwriter acquires its interest in the Option Shares it has purchased without notice of any adverse claim (within the meaning of Section 8-105 of the UCC), upon the credit of such Option Shares to the securities account of such Underwriter maintained with the DTC and payment therefor by such Underwriter, as provided herein, such Underwriter will have acquired a security entitlement to such securities, and no action based on any adverse claim may be asserted against such Underwriter with respect to such security entitlement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *No Stabilization*. Such Selling Stockholder has not taken and will not take, directly or indirectly, without giving effect to activities by the Underwriters, any action designed to be or that would reasonably be expected to cause or result in any stabilization or manipulation of the price of the Option Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *General Disclosure Package*. The General Disclosure Package, at the Effective Time did not, and as of the applicable Option Closing Date, will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; *provided* that such Selling Stockholder's representations and warranties under this <u>Section 3.02(e)</u> are limited solely to the Selling Stockholder Information. Each Underwriter, the Company, and each Selling Stockholder agree that ***"Selling Stockholder Information"*** consists solely of the information furnished by such Selling Stockholder for use in connection with the offering, which solely consists of (i) the name of such Selling Stockholder, (ii) the information relating to such Selling Stockholders' holdings of shares of common stock of the Company, (iii) the information set forth in the applicable footnote relating to such Selling Stockholder under the beneficial ownership table, and (iv) the number of shares to be offered by such Selling Stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *Issuer Free Writing Prospectus*. Other than the Registration Statement, the Preliminary Prospectus, and the Prospectus, such Selling Stockholder (including his, her, or its agents and representatives, other than the Underwriters in their capacity as such) has not prepared, used, authorized, approved, or referred to and will not prepare, use, authorize, approve, or refer to any Issuer Free Writing Prospectus or other applicable written communication, other than (i) any document not constituting a prospectus pursuant to Section 2(a)(10)(a) of the Securities Act or Rule 134 under the Securities Act or (ii) any materials approved in writing in advance by the Company and the Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) *Registration Statement and Prospectus*. As of the applicable effective date of the Registration Statement and any post-effective amendment thereto, the Registration Statement and any such post-effective amendment complied and will comply in all material respects with the Securities Act, and did not and will not (in the case of a post-effective amendment field after the date hereof) contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and as of the date of the Prospectus and any amendment or supplement thereto and as of the applicable Option Closing Date, the Prospectus will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; *provided* that such Selling Stockholder's representations and warranties under this <u>Section 3.02(g)</u> are limited solely to Selling Stockholder Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) *No Broker's Fees*. Except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus, the Selling Stockholder is not a party to any contract, agreement or understanding with any person (other than this Agreement) that would give rise to a valid claim against any of them or any Underwriter for a brokerage commission, finder's fee or like payment in connection with the offering and sale of the Option Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *FINRA*. Except as disclosed on Selling Stockholders Disclosure Schedule 3.02(i), there are no associations or affiliations between any member of FINRA and the Selling Stockholder or any Affiliate of the Selling Stockholder, except as previously disclosed in writing to the Representative.

**Article IV.<br> OTHER AGREEMENTS OF THE PARTIES**

**Section 4.01** <u>Amendments to Registration Statement</u>. The Company has delivered, or will as promptly as practicable deliver, to the Underwriters complete conformed copies of the Registration Statement and of each consent and certificate of experts, as applicable, filed as a part thereof, and conformed copies of the Registration Statement (without exhibits), the Prospectus, as amended or supplemented, and the General Disclosure Package in such quantities and at such places as an Underwriter reasonably requests. Neither the Company nor any of its directors and officers has distributed and none of them will distribute, prior to the Closing Date, any offering material in connection with the offering and sale of the Securities other than the Prospectus, the General Disclosure Package, and the Registration Statement. The Company shall not file any such amendment or supplement to which the Representative shall reasonably and timely object in writing.

**Section 4.02** <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;(a) *Compliance*. During the time when a Prospectus is required to be delivered under the Securities Act, the Company will use its best efforts to comply with all requirements imposed upon it by the Securities Act and the Exchange Act, as from time to time in force, so far as necessary to permit the continuance of sales of or dealings in the Securities in accordance with the provisions hereof and the Prospectus. If at any time when a Prospectus relating to the Securities is required to be delivered under the Securities Act, any event shall have occurred as a result of which, in the opinion of counsel for the Company or counsel for the Representative, the Prospectus, as then amended or supplemented, includes an untrue statement of a material fact or omits 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, or if it is necessary at any time to amend the Prospectus to comply with the Securities Act, the Company will notify the Underwriters promptly and prepare and file with the Commission, subject to Section 4.01 hereof, an appropriate amendment or supplement in accordance with Section 10 of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Exchange Act Registration*. For a period of three (3) years from the Execution Date, the Company will use its best efforts to maintain the registration of the Class A Common Stock under the Exchange Act; *provided*, that such provision shall not prevent a sale, merger, or similar transaction involving the Company. The Company will not deregister the Class A Common Stock under the Exchange Act without the prior written consent of the Representative, which consent shall not be unreasonably withheld and provided that such provision shall not prevent a sale, merger, or similar transaction involving the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Free Writing Prospectuses*. The Company represents and agrees that it has not made and will not make any offer relating to the Securities that would constitute an issuer free writing prospectus, as defined in Rule 433 of the rules and regulations under the Securities Act, without the prior written consent of the Representative. Any such free writing prospectus consented to by the Representative is herein referred to as a ***"Permitted Free Writing Prospectus."*** The Company represents that it will treat each Permitted Free Writing Prospectus as an "issuer free writing prospectus" as defined in the rules and regulations under the Securities Act, and has complied and will comply with the applicable requirements of Rule 433 of the Securities Act, including timely Commission filing where required, legending and record keeping.

**Section 4.03** <u>Delivery to the Underwriters of Prospectuses</u>. The Company will deliver to the Underwriters, without charge, from time to time during the period when the Prospectus is required to be delivered under the Securities Act or the Exchange Act such number of copies of each Prospectus as the Underwriters may reasonably request.

**Section 4.04** <u>Effectiveness and Events Requiring Notice to the Underwriters</u>. The Company will use its best efforts to cause the Registration Statement to remain effective with a current prospectus until the later of nine (9) months from the Execution Date and the date on which the Warrants are no longer outstanding, and will notify the Underwriters immediately and confirm the notice in writing: (i) of the effectiveness of the Registration Statement and any amendment thereto; (ii) of the issuance by the Commission of any stop order or of the initiation, or the threatening, of any proceeding for that purpose; (iii) of the issuance by any state securities commission of any proceedings for the suspension of the qualification of the Securities for offering or sale in any jurisdiction or of the initiation, or the threatening, of any proceeding for that purpose; (iv) the electronic filing with the Commission of any amendment or supplement to the Registration Statement or the Prospectus; (v) of the receipt of any comments or request for any additional information from the Commission; and (vi) of the happening of any event during the period described in this <u>Section 4.04</u> that, in the judgment of the Company, makes any statement of a material fact made in the Registration Statement, the General Disclosure Package, or the Prospectus untrue or that requires the making of any changes in the Registration Statement, the General Disclosure Package, or the Prospectus in order to make the statements therein, in light of the circumstances under which they were made, not misleading. If the Commission or any state securities commission shall enter a stop order or suspend such qualification at any time, the Company will make every reasonable effort to obtain promptly the lifting of such order.

**Section 4.05** <u>Review of Financial Statements</u>. For a period of three (3) years from the Execution Date, the Company shall file with the Commission all reports required to be filed pursuant to the Exchange Act and, at its expense, shall cause its regularly engaged independent registered public accounting firm to review (but not audit except as required by law) the Company's financial statements included in such reports, *provided* that such provision shall not prevent a sale, merger, or similar transaction involving the Company.

**Section 4.06** <u>Reports to the Underwriters; Expenses of the Offering</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Periodic Reports, etc*. For a period of three (3) years from the Execution Date, the Company will furnish or make available to the Underwriters, upon written request, 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 registered under the Exchange Act and also promptly furnish or make available to the Underwriters, upon written request: (i) a copy of each periodic report the Company shall be required to file with the Commission; (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 Form 8-K prepared and filed by the Company; (iv) a copy 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* that the Underwriters shall each sign, if requested by the Company, a Regulation FD compliant confidentiality agreement which is reasonably acceptable to the Representative in connection with such Underwriter's receipt of such information. Documents filed with the Commission pursuant to its EDGAR system shall be deemed to have been delivered to the Underwriters pursuant to this <u>Section 4.06</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Transfer Sheets*. For a period of three (3) years from the Execution Date, the Company shall retain the Transfer Agent or a transfer and registrar agent acceptable to the Representative and will furnish to the Underwriters at the Company's sole cost and expense such transfer sheets of the Company's securities as an Underwriter may reasonably request, including the daily and monthly consolidated transfer sheets of the Transfer Agent and the DTC, *provided*, *however*, that such requests cannot be made more than once quarterly; and *provided* that such provision shall not prevent a sale, merger, or similar transaction involving the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Trading Reports*. For a period of one (1) year after the date of this Agreement, the Company shall provide to the Underwriters, at the Company's expense, such reports published by the Trading Market relating to price and trading of such securities, as the Underwriters shall reasonably request; *provided* that such provision shall not prevent a sale, merger, or similar transaction involving the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *General Expenses Related to the Offering*. The Company hereby agrees to pay on each of the Closing Date and each 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 Securities to be sold in the Offering (including the Option Shares and Option Warrants) with the Commission; (b) all FINRA Public Offering Filing System fees associated with the review of the Offering by FINRA, and all fees and expenses relating to the listing of such Firm Shares, Option Shares, Firm Warrants, and Option Warrants on the Trading Market and such other stock exchanges as the Company and the Representative together determine in good faith, if applicable; (c) all fees, expenses, and disbursements relating to the registration or qualification of such Securities under the "blue sky" securities laws of such states and other jurisdictions as the Representative may reasonably designate (including, without limitation, all filing and registration fees); (d) the costs of all mailing and printing of the underwriting documents (including, without limitation, the Underwriting Agreement, and any "blue sky" surveys and, if appropriate, any agreement among Underwriters, any agreements with selected dealers, 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; (e) the cost and expense of the financial public relations firm referred to in <u>Section 4.21</u> of this Agreement; (f) the costs of preparing, printing, and delivering the Securities; (g) fees and expenses of the Transfer Agent for the Securities (including, without limitation, any fees required for same-day processing of any instruction letter delivered by the Company); (h) stock transfer and/or stamp taxes, if any, payable upon the transfer of securities from the Company to the Underwriters; (i) the fees and expenses of the Company's accountants; (j) the fees and expenses of the Company's legal counsel and other agents and representatives; (k) the Underwriters' costs of mailing prospectuses to prospective investors; (l) all fees, expenses, and disbursements relating to background checks of the Company's officers and directors; (m) the fees and expenses associated with the Underwriters' use of the i-Deal system and Net Roadshow; and (n) the Company's actual "road show" expenses for the Offering. The Underwriters may also deduct from the net proceeds of the Offering payable to the Company on the Closing Date, or each Option Closing Date, if any, all out-of-pocket fees, expenses, and disbursements (including legal fees and expenses) of the Underwriters incurred as a result of providing services related to the Offering to be paid by the Company to the Underwriters; *provided*, *however*, that all such costs and expenses pursuant to this <u>Section 4.06(d)</u>, including those referenced in clauses (m) and (n) above and legal expenses of counsel to the Underwriters and otherwise, which are incurred by the Underwriters and for which the Company shall be responsible shall not exceed $175,000, in the aggregate, if the Offering is closed, or $30,000 in the aggregate if the Offering is not closed. This $30,000 amount shall be inclusive of the $15,000 advance for accountable expenses previously paid by the Company to the Representative (the ***"Advance"***).

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *Non-Accountable Expenses*. The Company further agrees that, in addition to the expenses payable pursuant to Section 4.06(d), 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 Securities (excluding the Option Securities).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *Warrant Agent*. The Company hereby agrees to engage and maintain, at its expense, (i) a registrar and transfer agent for the Class A Common Stock and (ii) a registrar and transfer agent for the Warrants.

**Section 4.07** <u>Application of Net Proceeds</u>. The Company will apply the net proceeds from the Offering received by it in a manner consistent with the application described under the caption "Use of Proceeds" in the Prospectus.

**Section 4.08** <u>Stabilization</u>. Neither the Company, nor, to its knowledge, any of its employees, directors, or stockholders (without the consent of the Representative), including the Selling Stockholders, has taken or will take, directly or indirectly, any action designed to or that has constituted or that might reasonably be expected to cause or result in, under 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 Securities.

**Section 4.09** <u>Internal Controls</u>. The Company will implement and maintain a system of internal accounting controls 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.

**Section 4.10** <u>Accountants</u>. For a period of three (3) years from the Effective Date, the Company shall continue to retain a nationally recognized, independent PCAOB registered public accounting firm. The Underwriters acknowledge that the Company Auditor is acceptable to the Underwriters.

**Section 4.11** <u>FINRA</u>. The Company shall advise the Underwriters (who shall make an appropriate filing with FINRA) if it is aware that any officer, director, 5% or greater stockholder of the Company or Person that received the Company's unregistered equity securities in the past one hundred eighty (180) days is or becomes an affiliate or associated person of a FINRA member firm prior to the earlier of the termination of this Agreement or the conclusion of the distribution of the Offering.

**Section 4.12** <u>No Fiduciary Duties</u>. The Company and the Selling Stockholders acknowledge and agree that the Underwriters' responsibility to the Company and the Selling Stockholders (in the case of the Over-Allotment Option) is solely contractual and commercial in nature, based on arms-length negotiations, and that neither the Underwriters nor their affiliates or any selected dealer 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. Notwithstanding anything in this Agreement to the contrary, the Company and the Selling Stockholders acknowledge that the Underwriters may have financial interests in the success of the Offering that are not limited to the difference between the price to the public and the purchase price paid to the Company and the Selling Stockholders (in the case of the Option Shares and Option Warrants) by the Underwriters for the shares and Warrants, as the case may be, and the Underwriters have no obligation to disclose, or account to the Company and the Selling Stockholders for, any of such additional financial interests. The Company and the Selling Stockholders hereby waive and release, to the fullest extent permitted by law, any claims that the Company and the Selling Stockholders (in the case of the Over-Allotment Option) may have against the Underwriters with respect to any breach or alleged breach of fiduciary duty by the Underwriters.

**Section 4.13** <u>Board Composition and Board Designations</u>. The qualifications of the persons serving as board members of the Company and the overall composition of the Board shall comply with the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder and with the listing requirements of The Nasdaq Stock Market LLC and, if applicable, at least one (1) member of the Board must qualify as a "financial expert" as such term is defined under the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder.

**Section 4.14** <u>Securities Laws Disclosure; Publicity</u>. At the request of the Representative, by 9:00 a.m. (New York City time) on the date hereof, the Company shall issue a press release disclosing the material terms of the Offering. The Company and the Representative shall consult with each other in issuing any press releases with respect to the Offering, and neither the Company nor any Underwriter shall issue any such press release nor otherwise make any such public statement without the prior consent of the Company, 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. The Company will not issue press releases or engage in any other publicity, without the Representative's prior consent, which consent will not be unreasonably withheld, for a period ending at 5:00 p.m. (New York City time) on the first (1<sup>st</sup>) business day following the forty-fifth (45<sup>th</sup>) day following the Closing Date, other than normal and customary releases issued in the ordinary course of the Company's business.

**Section 4.15** <u>Stockholder Rights Plan</u>. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that any Underwriter of the Securities is an ***"Acquiring Person"*** under any control share acquisition, business combination, poison pill (including any distribution under a rights agreement), or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company, or that any Underwriter of Securities could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Securities.

**Section 4.16** <u>Listing of Common Stock and Warrants</u>. The Company agrees to use its commercially reasonable best efforts to effect and maintain the trading of the Class A Common Stock and Warrants on The Nasdaq Capital Market for at least three (3) years after the Closing Date; *provided* that such provision shall not prevent a sale, merger, or similar transaction involving the Company.

**Section 4.17** <u>Subsequent Equity Sales</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) From the date hereof until one hundred eighty (180) days after the Closing Date, neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents, without the prior written approval of the Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding the foregoing, this <u>Section 4.17</u> shall not apply in respect of an Exempt Issuance.

**Section 4.18** <u>Capital Changes</u>. Until ninety (90) days after the Closing Date and except for the stock split as disclosed in the Registration Statement, the Company shall not undertake a reverse or forward stock split or reclassification of the Common Stock without the prior written consent of EF Hutton.

**Section 4.19** <u>Post Offering Investments</u>. Provided that the Firm Shares are sold in accordance with the terms of this Agreement, in the event any individual or entity (including affiliates of such persons) that was introduced to the Company by EF Hutton subsequently provides the Company capital via any transaction, commencing on the Closing Date and continuing for a period of twelve (12) months thereafter, the Company shall be obligated to pay the EF Hutton a cash fee of eight percent (8%) of the gross proceeds of any such investments.

**Section 4.20** <u>Right of First Refusal</u>. The Company agrees that for a period of twelve (12) months from the closing of the Offering, the Company shall grant EF Hutton the irrevocable right of first refusal to act as a sole investment banker, sole book-runner, and/or sole placement agent, at EF Hutton's sole discretion, for each and every future public and private equity and debt offering, including all equity linked financings, of the Company, or any successor to or any current or future subsidiary of the Company (each, a ***"Subject Transaction"***), on terms and conditions customary to EF Hutton for such Subject Transactions. EF Hutton shall have the sole right to determine whether or not any other broker dealer shall have the right to participate in the Subject Transactions and the economic terms of such participation. For the avoidance of any doubt, the Company shall 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 EF Hutton.

**Section 4.21** <u>Financial Public Relations Firm</u>. As of the Execution Date, the Company has retained a financial public relations firm reasonably acceptable to the Representative and the Company, which shall initially be [______], which firm is experienced in assisting issuers in public offerings of securities and in their relations with their security holders, and shall retain such firm or another firm reasonably acceptable to the Representative for a period of not less than two (2) years after the Execution Date.

**Section 4.22** <u>Research Independence</u>. The Company and the Selling Stockholders acknowledge that each Underwriter's research analysts and research departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriter's research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering that differ from the views of its investment bankers. The Company and the Selling Stockholders hereby waives and releases, to the fullest extent permitted by law, any claims that the Company and the Selling Stockholders, as the case may be, may have against such Underwriter with respect to any conflict of interest that may arise from the fact that the views expressed by their independent research analysts and research departments may be different from or inconsistent with the views or advice communicated to the Company and the Selling Stockholders by such Underwriter's investment banking divisions. The Company and the Selling Stockholders acknowledge that each Representative is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short position in debt or equity securities of the Company.

**Section 4.23** <u>Corporation Records Service</u>. As of the Execution Date, the Company has registered with the Corporation Records Service (including annual report information) published by Standard & Poor's Corporation and shall maintain such registration for a period of three (3) years from the Closing.

**Section 4.24** <u>Insurance</u>. The Company agrees to maintain its "key man" life insurance policy with an insurer rated at least AA or better in the most recent edition of "Best's Life Reports" on the life of Michael Feldman.

**Section 4.25** <u>Tax Form</u>. Each Selling Stockholder will deliver to the Representative prior to or at each Option Closing Date, if any, a properly completed and executed United States Treasury Department Form W-9 (or other applicable form or statement specified by the Treasury Department regulation in lieu thereof) in order to facilitate the Underwriters' documentation of their compliance with the reporting and withholding provisions of the Tax Equity and Fiscal Responsibility Act of 1982 with respect to the transactions contemplated herein.

**Section 4.26** <u>Warrant Shares</u>. If all or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the issuance of the Warrant Shares, or if the Warrant is exercised via cashless exercise at a time when such Warrant Shares are eligible for resale under Rule 144 by a non-affiliate of the Company, Warrant Shares issued pursuant to any such exercise shall be issued free of all restrictive legends. If at any time following the date hereof the Registration Statement (or any subsequent registration statement registering the sale or resale of the Warrant Shares) is not effective or is not otherwise available for the sale of the Warrant Shares, the Company shall immediately notify the holders that have provided it an address of the Warrants in writing that such registration statement is not then effective and thereafter shall promptly notify such holders when the registration statement is effective again and available for the sale of the Warrant Shares (it being understood and agreed that the foregoing shall not limit the ability of the Company to issue, or any holder thereof to sell, any of the Warrant Shares in compliance with applicable federal and state securities laws).

**Section 4.27** <u>Reservation of Common Stock</u>. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at all times while any of the Warrants are outstanding, free of preemptive rights, a sufficient number of shares of Common Stock for the purpose of enabling the Company to issue Option Shares pursuant to the Over-Allotment Option and shares pursuant to any exercise of the Firm Warrants and Option Warrants.

**Article V.<br> DEFAULT BY UNDERWRITERS**

If on the Closing Date or any Option Closing Date, if any, any Underwriter shall fail to purchase and pay for the portion of the Firm Securities or Option Securities, as the case may be, which such Underwriter has agreed to purchase and pay for on such date (otherwise than by reason of any default on the part of the Company or the Selling Stockholders (in the case of Option Securities), the Representative, or if a Representative is the defaulting Underwriter, the non-defaulting Underwriters, shall use their reasonable efforts to procure within thirty-six (36) hours thereafter one or more of the other Underwriters, or any others, to purchase from the Company and the Selling Stockholders (in the case of Option Securities) such amounts as may be agreed upon and upon the terms set forth herein, the Firm Securities or Option Securities, as the case may be, which the defaulting Underwriter or Underwriters failed to purchase. If during such thirty-six (36) hours the Representative shall not have procured such other Underwriters, or any others, to purchase the Firm Securities or Option Securities, as the case may be, agreed to be purchased by the defaulting Underwriter or Underwriters, then (a) if the aggregate number of Firm Securities or Option Securities, as the case may be, with respect to which such default shall occur does not exceed ten percent (10%) of the Firm Securities or Option Securities, as the case may be, covered hereby, the other Underwriters shall be obligated, severally, in proportion to the respective numbers of Firm Securities or Option Securities, as the case may be, which they are obligated to purchase hereunder, to purchase the Firm Securities or Option Securities, as the case may be, which such defaulting Underwriter or Underwriters failed to purchase, or (b) if the aggregate number of Firm Securities or Option Securities, as the case may be, with respect to which such default shall occur exceeds ten percent (10%) of the Firm Securities or Option Securities, as the case may be, covered hereby, the Company, with respect to the Firm Securities and the Option Securities, and the Selling Stockholders, with respect to the Option Securities, or the Representative, with respect to the Firm Securities and the Option Securities, will have the right to terminate this Agreement without liability on the part of the non-defaulting Underwriters or of the Company and the Selling Stockholders except to the extent provided in <u>Article VI</u> hereof. In the event of a default by any Underwriter or Underwriters, as set forth in this <u>Article V</u>, the applicable Closing Date may be postponed for such period, not exceeding seven (7) days, as the Representative, or if a Representative is the defaulting Underwriter, the non-defaulting Underwriters, may determine in order that the required changes in the Prospectus or in any other documents or arrangements may be effected. The term ***"Underwriter"*** includes any person substituted for a defaulting Underwriter. Any action taken under this <u>Article V</u> shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

**Article VI.<br> INDEMNIFICATION**

**Section 6.01** <u>Indemnification of the Underwriters by the Company</u>. The Company shall indemnify and hold harmless each Underwriter, its affiliates, the directors, officers, employees, and agents of such Underwriter and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, liabilities, expenses, and damages (including any and all investigative, legal, and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit, or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), to which they, or any of them, may become subject under the Securities Act, the Exchange Act, or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses, or damages arise out of or are based on (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including the information deemed to be a part of the Registration Statement at the time of effectiveness and at any subsequent time pursuant to Rules 430A and 430B of the Securities Act and the rules and regulations thereunder, as applicable, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, or (ii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus, any preliminary prospectus supplement, any Permitted Free Writing Prospectus, or the Prospectus (or any amendment or supplement to any of the foregoing) or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, or (iii) any untrue statement or alleged untrue statement of a material fact contained in any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of the Offering of the Securities, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically) or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, or (iv) in whole or in part any inaccuracy in any material respect in the representations and warranties of the Company contained herein; *provided*, *however*, that the Company shall not be liable to the extent that such loss, claim, liability, expense, or damage is based on any untrue statement or omission or alleged untrue statement or omission made in reliance on and in conformity with Underwriters' Information. This indemnity agreement will be in addition to any liability that the Company might otherwise have. For all purposes of this Agreement, the information set forth in the Prospectus in the "Price Stabilization, Short Positions and Penalty Bids," and "Electronic Offer, Sale and Distribution" sections under the caption "Underwriting" constitutes the only information (the ***"Underwriters' Information"***) relating to the Underwriters furnished in writing to the Company by the Underwriters through the Representative specifically for inclusion in the preliminary prospectus, the Registration Statement, or the Prospectus.

**Section 6.02** <u>Indemnification of the Underwriters by the Selling Stockholders</u>. In the case of the Over-Allotment Option, each of the Selling Stockholders severally and not jointly in proportion to the number of Option Shares to be sold by such Selling Stockholder shall indemnify and hold harmless each Underwriter, its affiliates, the directors, officers, employees, and agents of such Underwriter and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, liabilities, expenses, and damages (including any and all investigative, legal, and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit, or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), to which they, or any of them, may become subject under the Securities Act, the Exchange Act, or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses, or damages arise out of or are based on any untrue statement or alleged untrue statement of a material fact, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, contained in the Registration Statement, any preliminary prospectus, any preliminary prospectus supplement, any Permitted Free Writing Prospectus, or the Prospectus, in connection with the marketing of the Offering of the Securities, solely relating to Selling Stockholder Information; *provided*, *however*, that such Selling Stockholder shall not be liable to the extent that such loss, claim, liability, expense, or damage is based on any untrue statement or omission or alleged untrue statement or omission made in reliance on and in conformity with Underwriters' Information.

**Section 6.03** <u>Indemnification of the Company and the Selling Stockholders</u>. Each Underwriter, severally and not jointly, agrees to indemnify and hold harmless the Company, its affiliates, the directors, officers, employees, and agents of the Company and each other person or entity, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, and in the case of the Over-Allotment Option, each of the Selling Stockholders, against any losses, liabilities, claims, damages, and expenses whatsoever, as incurred (including but not limited to reasonable attorneys' fees and any and all reasonable expenses whatsoever, incurred in investigating, preparing, or defending against any litigation, commenced or threatened, or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation), joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act, or otherwise, insofar as such losses, liabilities, claims, damages, or expenses (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement at the time of effectiveness and at any subsequent time pursuant to Rules 430A and 430B of the Securities Act and the rules and regulations thereunder, any Preliminary Prospectus, the Prospectus, or any amendment or supplement to any of them, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that any such loss, liability, claim, damage, or expense (or action in respect thereof) arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon the Underwriters' Information; *provided*, *however*, that in no case shall any Underwriter be liable or responsible for any amount in excess of the underwriting discount and commissions applicable to the Securities purchased by such Underwriter hereunder.

**Section 6.04** <u>Indemnification Procedures</u>. Any party that proposes to assert the right to be indemnified under this <u>Article VI</u> shall, promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this <u>Article VI</u>, notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party shall not relieve the indemnifying party from any liability that it may have to any indemnified party under the foregoing provisions of this <u>Article VI</u> unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel satisfactory to the indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable out-of-pocket costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses, and other charges of such counsel will be at the expense of such indemnified party unless (i) the employment of counsel by the indemnified party has been authorized in writing by one of the indemnifying parties in connection with the defense of such action, (ii) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (iii) the indemnified party has reasonably concluded that a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party shall not have the right to direct the defense of such action on behalf of the indemnified party), (iv) the indemnifying party does not diligently defend the action after assumption of the defense, or (v) the indemnifying party has not in fact employed counsel satisfactory to the indemnified party to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable fees, disbursements, and other charges of counsel shall be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements, and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees, disbursements, and other charges shall be reimbursed by the indemnifying party promptly as they are incurred. An indemnifying party shall not be liable for any settlement of any action or claim effected without its written consent (which consent will not be unreasonably withheld or delayed). No indemnifying party shall, without the prior written consent of each indemnified party, settle, or compromise or consent to the entry of any judgment in any pending or threatened claim, action, or proceeding relating to the matters contemplated by this <u>Article VI</u> (whether or not any indemnified party is a party thereto), unless (x) such settlement, compromise, or consent (i) includes an unconditional release of each indemnified party from all liability arising or that may arise out of such claim, action, or proceeding and (ii) does not include a statement as to or an admission of fault, culpability, or a failure to act by or on behalf of any indemnified party, and (y) the indemnifying party confirms in writing its indemnification obligations hereunder with respect to such settlement, compromise, or judgment. Notwithstanding the foregoing, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by subsection (a) of this <u>Section 6.04</u> effected without its written consent if (A) such settlement is entered into more than forty-five (45) days after receipt by such indemnifying party of the aforesaid request, (B) such indemnifying party shall have received notice of the terms of such settlement at least thirty (30) days prior to such settlement being entered into, and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement.

**Section 6.05** <u>Contribution</u>. In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs of this <u>Article VI</u> is applicable in accordance with its terms but for any reason is held to be unavailable, the Company, the Selling Stockholders, and the Underwriters shall contribute to the total losses, claims, liabilities, expenses, and damages (including any investigative, legal, and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit, or proceeding or any claim asserted, but after deducting any contribution received by the Company and the Selling Stockholders from persons other than the Underwriters, such as persons who control the Company within the meaning of the Securities Act, officers of the Company who signed the Registration Statement and directors of the Company, who may also be liable for contribution), to which the Company, the Selling Stockholders, and the Underwriter may be subject in such proportion as shall be appropriate to reflect the relative benefits received by the Company and the Selling Stockholders, on the one hand and the Underwriters on the other from the Offering of the Securities or the offering of the Option Shares, as the case may be, pursuant to this Agreement. The relative benefits received by the Company, the Selling Stockholders, and the Underwriters shall be deemed to be in the same proportion as (x) the total proceeds from the Offering (net of underwriting discount and commissions but before deducting expenses) received by the Company and the total proceeds from the Over-Allotment Option received by the Selling Stockholders bears to (y) the underwriting discount and commissions received by the Underwriters, in each case as set forth in the table in Exhibit 107 of the Prospectus. If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company and the Selling Stockholders on the one hand, and the Underwriters, on the other, with respect to the statements or omissions which resulted in such loss, claim, liability, expense, or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to the Offering or the offering of the Option Shares, as the case may be. Such 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, the Selling Stockholders, 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, the Selling Stockholders, and the Underwriters agree that it would not be just and equitable if contributions pursuant to this <u>Section 6.05</u> were to be determined by pro rata allocation or by any other method of allocation (even if the Underwriters were treated as one entity for such purpose) which does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this <u>Section 6.05</u> shall be deemed to include, for purpose of this <u>Section 6.05</u>, any legal or other expenses reasonably incurred by such indemnified party i connection with investigating or defending any such action or claim. Notwithstanding the provisions of this <u>Section 6.05</u>, no Underwriter shall be required to contribute any amount in excess of the underwriting discounts and commissions received by it. 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 guilty of such fraudulent misrepresentation. For purposes of this <u>Section 6.05</u>, any person who controls a party to this Agreement within the meaning of the Securities Act will have the same rights to contribution as that party, and each officer of the Company who signed the Registration Statement will have the same rights to contribution as the Company, and each director, officer, employee, counsel, or agent of an Underwriter will have the same rights to contribution as such Underwriter, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect of which a claim for contribution may be made under this <u>Section 6.05</u>, will notify any such party or parties from whom contribution may be sought, but the omission so to notify will not relieve the party r parties from whom contribution may be sought from any other obligation it or they may have under this <u>Section 6.05</u>. The obligations of the Underwriters to contribute pursuant to this <u>Section 6.05</u> are several in proportion to the respective number of Securities to be purchased by each of the Underwriters hereunder and not joint. No party will be liable for contribution with respect to any action or claim settled without its written consent (which consent will not be unreasonably withheld).

**Section 6.06** <u>Survival</u>. The indemnity and contribution agreements contained in this <u>Article VI</u> and the representations and warranties of the Company and the Selling Stockholders (in the case of the Over-Allotment Option) contained in this Agreement shall remain operative and in full force and effect regardless of (i) any investigation made by or on behalf of any Underwriter or any controlling Person thereof, (ii) acceptance of any of the Securities and payment therefor, or (iii) any termination of this Agreement.

**Article VII.<br> MISCELLANEOUS**

**Section 7.01** <u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Termination Right*. The Representative shall have the right to terminate this Agreement by notifying the Company and the Selling Stockholders at any time prior to any Closing Date or Option Closing Date, (i) if any domestic or international event or act or occurrence has materially disrupted, or in their opinion will in the immediate future materially disrupt, general securities markets in the United States; or (ii) if trading on any Trading Market 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 opinion, make it inadvisable to proceed with the delivery of the Securities, or (vii) if the Company or the Selling Stockholders is in material breach of any of its representations, warranties, or covenants hereunder which have not been cured within ten (10) days after notification has been given to the Company or the Selling Stockholders, as the case may be, by the Representative or which by its nature is uncurable, 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 judgment would make it impracticable to proceed with the Offering, sale and/or delivery of the Securities, or to enforce contracts made by the Underwriters for the sale of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Expenses*. In the event this Agreement shall be terminated pursuant to <u>Section 7.01(a)</u> within the time specified herein or any extensions thereof pursuant to the terms herein, the Company shall be obligated to pay to EF Hutton its actual and accountable out of pocket expenses related to the transactions contemplated herein then due and payable up to $30,000 (*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(g)(4)(A).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Indemnification*. 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 <u>Article VI</u> shall not be in any way effected by such election or termination or failure to carry out the terms of this Agreement or any part hereof.

**Section 7.02** <u>Entire Agreement</u>. The Transaction Documents, together with the exhibits and schedules thereto, any Preliminary Prospectus and the Prospectus, contain the entire understanding of the parties with respect to the subject matter hereof and thereof 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. Notwithstanding anything herein to the contrary, the Engagement Agreement dated shall continue to be effective and the terms therein, shall continue to survive and be enforceable by EF Hutton in accordance with its terms, *provided* that, in the event of a conflict between the terms of the foregoing agreements and this Agreement, the terms of this Agreement shall prevail.

**Section 7.03** <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: (a) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or e-mail attachment at the email address set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or e-mail attachment at the e-mail address as set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2<sup>nd</sup>) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (d) 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.

**Section 7.04** <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 EF Hutton and the Selling Stockholders (to the extent applicable). No waiver of any default with respect to any provision, condition, or requirement of this Agreement shall be deemed 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 7.05** <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 7.06** <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.

**Section 7.07** <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 New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement, and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors, officers, stockholders, partners, members, employees, or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection 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 action, suit or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action, or proceeding is improper or is an 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 law. If either party shall commence an action or proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the Company under Article VI, the prevailing party in such action, suit, or proceeding shall be reimbursed by the other party for its reasonable attorneys' fees and other costs and expenses incurred with the investigation, preparation, and prosecution of such action or proceeding.

**Section 7.08** <u>Survival</u>. The representations and warranties and the indemnification provisions contained herein shall survive the Closing and the Option Closing, if any, and the delivery of the Securities.

**Section 7.09** <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 each other party, it being understood that the 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 7.10** <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 7.11** <u>Remedies</u>. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Underwriters and the Company will be entitled to 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 7.12** <u>Saturdays, Sundays, Holidays, etc</u>. 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.

**Section 7.13** <u>Construction</u>. The parties agree that each of them and/or their respective counsel have 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 thereto. In addition, each and every reference to share prices and shares of Class A 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 Class A Common Stock that occur after the date of this Agreement.

**Section 7.14** <u>WAIVER OF JURY TRIAL</u>. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVE FOREVER ANY RIGHT TO TRIAL BY JURY.

**Section 7.15** <u>No Third Party Beneficiaries</u>. The provisions of this Agreement shall be binding upon and shall inure solely to the benefit of the parties hereto, are not intended to confer upon any Person other than the parties hereto, and the Underwriters where so indicated any rights, benefits, remedies, obligations, or liabilities hereunder.

 

*[Signature page follows]*

 

 

If the foregoing correctly sets forth the understanding between the Underwriters, the Company, and the Selling Stockholders (in the case of the Over-Allotment Option), please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement among the Company, the Selling Stockholders (in the case of the Over-Allotment Option) and the several Underwriters in accordance with its terms.

---

| | |
|:---|:---|
| **T1V, INC.** | **T1V, INC.** |
| By: |  |
| Name: | Michael Feldman |
| Title: | President and Chief Executive Officer |

---

<u>Address for Notice:</u> 

T1V, Inc.<br> 5025 West W.T. Harris Boulevard, Suite A

Charlotte, NC 28269

Attn: Michael Feldman

T: (704) 594-1610

<u>Copy to (which shall not constitute notice)</u>:

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, New York 10105

Attn: Richard I. Anslow, Esq.

T: (212) 370-1300

Accepted by the Representative, acting for themselves and as Representative of the Underwriters named on Schedule I hereto, as of the date first above written:

---

| | |
|:---|:---|
| **EF HUTTON,** | **EF HUTTON,** |
| **division of Benchmark Investments, LLC** | **division of Benchmark Investments, LLC** |
| By: |  |
| Name: | Sam Fleishman |
| Title: | Supervisory Principal |

---

<u>Address for Notice</u>:

EF Hutton, division of Benchmark Investments, LLC

590 Madison Avenue, 39th Floor

New York, NY 10022

Sam Fleishman, Supervisory Principal

<u>Copy to (which shall not constitute notice)</u>:

Carmel, Milazzo & Feil LLP

55 W 39<sup>th</sup> Street, 18<sup>th</sup> Floor

New York, NY 10018

Attention: Ross D. Carmel, Esq.

Telephone: 212-658-0458

Email: rcarmel@cmfllp.com

---

| | |
|:---|:---|
|  | **SELLING STOCKHOLDER** |
|  | **WH&W PRIVATE MARKET INVESTMENT FUND I, LLC** |
|  | By: |
|  | Name: |
| Address for Notice: | Title: |

---

WH&W Private Market Investment Fund I, LLC

c/o Welch Hornsby, Inc.

2100 Southbridge Pkwy, Suite 500

Birmingham, AL 35209

Fidelis Capital, LLC

820 Shades Creek Pkwy

Birmingham, AL 35223

Attention: John S. Stein III

Telephone 205-588-6025

Email: jstein@fideliscapital.net

Copy to (which shall not constitute notice):

Dentons Sirote PC

2311 Highland Avenue South, Suite 500

Birmingham, AL 35205

Attention: W. Todd Carlisle, Esq.

Telephone 205-930-5154

Email: todd.carlisle@dentons.com

---

| |
|:---|
| **SELLING STOCKHOLDER** |
| **T1 INVESTMENT, LLC** |
| By: |
| Name: |
| Title:  |

---

Address for Notice:

T1 Investment LLC

9311 Standerwick Ln

Huntersville, NC 28078

Telephone 704-907-1301

Email: chris@mckee-group.com

**Schedule I<br> Schedule of Underwriters**

---

| | | |
|:---|:---|:---|
| **Underwriters** | **Firm <br> Shares <br> and Firm<br> Warrants** | **Purchase<br> Price** |
| EF Hutton, division of Benchmark Investments, LLC |  | $|
| **Total** |  | $|

---

**Schedule II<br> Schedule of Selling Stockholders**

---

| | |
|:---|:---|
| **Selling Stockholder** | **Number of Option Shares to Be Sold if the Maximum Over-Allotment Option Is Exercised** |
| WH&W Private Market Investment Fund I, LLC | [NUMBER] |
| T1 Investment, LLC | [NUMBER] |
| **Total:** | [NUMBER] |

---

**Schedule III<br> Pricing Information**

---

| | |
|:---|:---|
| **Number of Units:** |  |
| **Number of Firm Shares:** |  |
| **Number of Firm Warrants:** |  |
| **Number of Option Shares:** |  |
| **Number of Option Warrants:** |  |
| **Public Offering Price per Unit:** | $|
| **Public Offering Price per Firm Share:** | $|
| **Public Offering Price per Firm Warrant:** | $|
| **Public Offering Price per Option Share:** | $|
| **Public Offering Price per Option Warrant:** | $|
| **Underwriting Discount per Unit:** | $|
| **Underwriting Discount per Option Share:** | $|
| **Underwriting Discount per Option Warrant:** | $|
| **Proceeds to Company per Unit (before expenses):** | $|
| **Proceeds to Company per Option Share (before expenses):** | $|
| **Proceeds to Company per Option Warrant (before expenses):** | $|

---

**Schedule IV<br> Lock-Up Parties**

---

| |
|:---|
| Michael Feldman |
| James Morris |
| Adam Loritsch |
| Diane Thompson |
| Dieter Woelfle |
| John Stein |
| Christopher McKee |
| Ross Annable |
| IMAF Charlotte, LLC |
| WH&W Private Market Investment Fund I, LLC |
| T1 Investment, LLC |

---

**Schedule V<br> Written Testing-the-Waters Communications**

**DISCLOSURE SCHEDULES**

**Company Disclosure Schedule 3.01(u)**

**Certain Fees**

John Stein, an Affiliate of Fidelis Capital, LLC, is a registered representative of a FINRA member firm. Fidelis Capital is the sub-advisor to WH&W Private Market Investment Fund I, LLC (WH&W"), a holder of shares of Series B Preferred Stock, and a Selling Stockholder, pursuant to the Underwriting Agreement (as such capitalized terms are defined therein).

**Company Disclosure Schedule 3.01(cc)**

**Tax Status**

The Company currently has approximately $408,000 in Covid-related Payroll Tax Liability, related to the Employer Social Security Tax Covid Relief Act, and Employee Retention Credits taken before such credits were terminated retroactively by Legislation in November 2021. The Company has been making regular payments while applying for an installment payment agreement with the IRS.

**Company Disclosure Schedule 3.01(mm)**

**FINRA Affiliation**

**See disclosure in Company Disclosure Schedule 3.01(u).**

**Selling Stockholders Disclosure Schedule 3.02(i)**

**FINRA** 

**See disclosure in Company Disclosure Schedule 3.01(u).**

EXHIBITS

---

| |
|:---|
| EXHIBIT A – FORM OF LOCK-UP AGREEMENT |
| EXHIBIT B – FORM OF OFFICERS' CERTIFICATE |
| EXHIBIT C – FORM OF SELLING STOCKHOLDER'S CERTIFICATE |
| EXHIBIT D – FORM OF SECRETARY'S CERTIFICATE |
| EXHIBIT E – FORM OF CHIEF FINANCIAL OFFICER'S CERTIFICATE |
| EXHIBIT F – FORM OF WARRANT AGENCY AGREEMENT |
| EXHIBIT G – FORM OF REPRESENTATIVE'S WARRANT |

---

## Exhibit 3.1

**Exhibit 3.1**

**AMENDED AND RESTATED**

**CERTIFICATE OF INCORPORATION<br> OF<br> T1V, INC.**

**ONE:** The original date of filing the Certificate of Incorporation of this corporation with the Secretary of State of the State of Delaware was May 31, 2013, under the name T1Visions, Inc.

**TWO:** The undersigned, Michael Feldman, is the duly elected and acting Chief Executive Officer of **T1V, Inc.**, a Delaware corporation.

**THREE:** This Amended and Restated Certificate shall become effective on the date of filing w Secretary of State of Delaware.

**FOUR:** The Certificate of Incorporation of this corporation (as heretofore amended) is hereby amended and restated in its entirety to read as follows:

**First:** The name of this corporation is T1V, Inc. (the "**Corporation**").

**Second:** The address of the registered office of the Corporation in the State of Delaware is 1209 Orange Street, Wilmington, New Castle County, Delaware 19801. The name of its registered agent at such address is The Corporation Trust Company.

**Third:** The nature of the business or purposes to be conducted or promoted is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the "**General Corporation Law**").

**Fourth:** The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 300,000 shares of Common Stock, $0.001 par value per share ("**Common Stock**"), (x) 290,000 shares of Common Stock which shall be classified as the Class A Common Stock, par value $0.001 per share and (y) 10,000 shares of Common Stock which shall be classified as the Class B Common Stock, par value $0.001 per share, and (ii) 142,712 shares of Preferred Stock, $0.001 par value per share ("**Preferred Stock**").

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. COMMON STOCK

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Reclassification of the Common Stock</u>. Immediately following the Effective Time, the shares of Common Stock shall be reclassified into two (2) classes of Common Stock, which shall be "Class A Common Stock" and "Class B Common Stock." Each share of Common Stock issued and outstanding immediately prior to the Effective Time (the "**Pre-Effective Time Common Stock**") shall automatically be reclassified as and become one share of Class A Common Stock. Certificates representing shares of Pre-Effective Time Common Stock shall, from and after the Effective Time, no longer represent shares of Pre-Effective Time Common Stock and shall represent only the number of shares of Class A Common Stock into which the shares of Pre-Effective Time Common Stock previously represented by such certificate were reclassified pursuant hereto, which shall be one (1) share of Class A Common Stock for each share of Pre-Effective Time Common Stock then issued and outstanding. Immediately after the Effective Time no shares of Class B Common Stock shall be issued and outstanding. The Class A Common Stock and the Class B Common Stock are sometimes collectively referred to hereafter as the "**Common Stock**."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>General</u>. The voting, dividend and liquidation rights of the holders of the Common Stock are subject to and qualified by the rights, powers and preferences of the holders of the Preferred Stock set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Rights of Common Stock</u>. The rights, preferences, privileges, restrictions and other matters relating to the Class A Common Stock and Class B Common Stock are 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;3.1 **Definitions.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 "*Acquisition*" means any consolidation or merger of the Corporation with or into any other Entity, other than any such consolidation or merger in which the stockholders of the Corporation immediately prior to such consolidation or merger continue to hold a majority of the voting power of the surviving Entity in substantially the same proportions (or, if the surviving Entity is a wholly owned subsidiary of another Entity, the surviving Entity's Parent) immediately after such consolidation, merger or reorganization; or (B) any transaction or series of related transactions to which the Corporation is a party in which in excess of 50% of the Corporation's voting power is transferred or issued; provided that an Acquisition shall not include any transaction or series of transactions principally for bona fide equity financing 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;&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 "*Asset Transfer*" means the sale, lease, transfer, assignment or exchange of all or substantially all the assets of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.3 "*Board*" means the board of directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.4 "*Certificate of Incorporation*" means this Amended and Restated Certificate of Incorporation of the Corporation, as further amended and/or restated from time to time, including the terms of any certificate of designations of any series of Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.6 "*Effective Time*" means the time this Amended and Restated Certificate of Incorporation of the Corporation is filed with and accepted by the Secretary of State of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.7 "*Entity*" means any corporation, partnership, limited liability company or other legal entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.8 *"Family Member*" means with respect to any natural person, the spouse, parents, grandparents, lineal descendants, siblings and lineal descendants of siblings (in each case whether by blood relation or adoption) of such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.9 "*Final Conversion Date"* means the earliest of (a) the date that is six (6) months after the second to die of the Founders, (b) the date that is six (6) months after both of the Founders are no longer providing services to the Corporation as an officer, director or employee and (iii) the date specified by the holders of a majority of the then outstanding shares of Class B Common Stock voting separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.10 "*Founders*" means Michael Feldman and James Morris and each is a "*Founder*."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.11 "*Independent Directors*" mean a majority of the members of the Board designated as independent directors in accordance with the requirements of (i) any national stock exchange under which the Corporation's equity securities are listed for trading that are generally applicable to companies with common equity securities listed thereon, or (ii) if the Corporation's equity securities are not listed for trading on a national stock exchange, the requirements of The Nasdaq Stock Market generally applicable to companies with equity securities listed thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.12 *"Liquidation Event*" means (i) any Asset Transfer or Acquisition in which cash or other property is, pursuant to the express terms of the Asset Transfer or Acquisition, to be distributed to the stockholders in respect of their shares of capital stock in the Corporation or (ii) any liquidation, dissolution and winding up of the Corporation; *provided, however,* for the avoidance of doubt, compensation pursuant to any employment, consulting, severance or other compensatory arrangement to be paid to or received by a person who is also a holder of Class A Common Stock or Class B Common Stock does not constitute consideration or a "distribution to stockholders" in respect of the Class A Common Stock or Class B 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.13 "*Parent*" of an Entity means any Entity that directly or indirectly owns or controls a majority of the voting power of the voting securities or interests of such Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.14 "*Permitted Entity*" means, with respect to a Qualified Stockholder, any Entity in which such Qualified Stockholder directly, or indirectly through one or more Permitted Transferees, has sole dispositive power and exclusive Voting Control with respect to all shares of Class B Common Stock held of record by such Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.15 "*Permitted Transfer*" means, and shall be restricted to, any Transfer of a share of Class B 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;&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 a Qualified Stockholder that is a natural person (including a natural person serving in a trustee capacity with regard to a trust for the benefit of himself or herself and/or his or her Family Members), to a Family Member of such Qualified Stockholder, to the trustee of a Permitted Trust of such Qualified Stockholder or to such Qualified Stockholder in his or her individual capacity or as a trustee of a Permitted Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 the trustee of a Permitted Trust of a Qualified Stockholder, to such Qualified Stockholder, a Family Member of such Qualified Stockholder, the trustee of any other Permitted Trust of such Qualified Stockholder or any Permitted Entity of such Qualified Stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 a Family Member of a Qualified Stockholder, to such Qualified Stockholder, another Family Member of such Qualified Stockholder, the trustee of any Permitted Trust of such Qualified Stockholder or any Permitted Entity of such Qualified Stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) by a Qualified Stockholder to any Permitted Entity of such Qualified Stockholder; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) by a Permitted Entity of a Qualified Stockholder to such Qualified Stockholder, a Family Member of such Qualified Stockholder, any other Permitted Entity or the trustee of a Permitted Trust of such Qualified Stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.16 "*Permitted Transferee*" means a transferee of shares of Class B Common Stock received in a Transfer that constitutes a Permitted Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.17 "*Permitted Trust*" means a validly created and existing trust the beneficiaries of which are either a Qualified Stockholder or Family Members of the Qualified Stockholder or both, or a trust under the terms of which such Qualified Stockholder has retained a "qualified interest" within the meaning of §2702(b)(1) of the Internal Revenue Code (as amended from time to time) and/or a reversionary interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.18 "*Pre-Effective Time Common Stock*" shall have the meaning given to that term in <u>subsection 1</u> of this <u>Section A</u> (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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.19 "*Qualified Stockholder*" means (i) the record holder of a share of Class B Common Stock at the Effective Time; (ii) the initial record holder of any share of Class B Common Stock that is originally issued by the Corporation thereafter (including, without limitation, upon conversion of any Preferred Stock or upon exercise of convertible notes, options or warrants); and (iii) a Permitted Transferee of a Qualified Stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.20 "*Trading Day*" means any day on which The Nasdaq Stock Market and the New York Stock Exchange are open for trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.21 "*Transfer*" of a share of Class B Common Stock means any sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of such share or any legal or beneficial interest in such share, whether or not for value and whether voluntary or involuntary or by operation of law, including, without limitation, a transfer of a share of Class B Common Stock to a broker or other nominee (regardless of whether there is a corresponding change in beneficial ownership), or the transfer of, or entering into a binding agreement with respect to, Voting Control (as defined below) over such share by proxy or otherwise; provided, however, that the following shall not be considered a "*Transfer*" within the meaning of this <u>Section A</u> (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;&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 granting of a revocable proxy to officers or directors of the Corporation at the request of the Board of Directors in connection with actions to be taken at an annual or special meeting of stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 existence of any proxy granted prior to the Effective Time or the amendment or expiration of any such proxy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) entering into a voting trust, agreement or arrangement (with or without granting a proxy) solely with stockholders who are holders of Class B Common Stock that (A) is disclosed either in a Schedule 13D filed with the Securities and Exchange Commission or in writing to the Secretary of the Corporation, (B) either has a term not exceeding one year or is terminable by the holder of the shares subject thereto at any time and (C) does not involve any payment of cash, securities, property or other consideration to the holder of the shares subject thereto other than the mutual promise to vote shares in a designated manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the pledge of shares of Class B Common Stock by a stockholder that creates a mere security interest in such shares pursuant to a bona fide loan or indebtedness transaction for so long as such stockholder continues to exercise exclusive Voting Control over such pledged shares; provided, however, that a foreclosure on such shares or other similar action by the pledgee shall constitute a "*Transfer*" unless such foreclosure or similar action qualifies as a "*Permitted Transfer*;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) entering into, or reaching an agreement, arrangement or understanding regarding, a support or similar voting or tender agreement (with or without granting a proxy) in connection with a Liquidation Event, Asset Transfer or Acquisition that has been approved by the Board; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) granting a proxy by a Founder to a person disclosed to the Independent Directors, to exercise dispositive power and/or Voting Control of the shares of Preferred Stock, Class A Common Stock, and Class B Common Stock owned directly or indirectly, beneficially and of record, by such Founder effective either (i) on the death of such Founder or (ii) during any Disability Event of such Founder, including the exercise of such proxy by such person.

A "Transfer" shall also be deemed to have occurred with respect to a share of Class B Common Stock beneficially held by (i) a Permitted Transferee on the date that such Permitted Transferee ceases to meet the qualifications to be a Permitted Transferee of the Qualified Stockholder who effected the Transfer of such shares to such Permitted Transferee, or (ii) an Entity that is a Qualified Stockholder, if there occurs a Transfer on a cumulative basis, from and after the Effective Time, of a majority of the voting power of the voting securities of such Entity or any Parent of such Entity, other than a Transfer to parties that were, as of the Effective Time, holders of voting securities of any such Entity or Parent of such Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.22 "*Voting Control*" means, with respect to a share of Preferred Stock, Class A Common Stock, or Class B Common Stock, the power (whether exclusive or shared) to vote or direct the voting of such share by proxy, voting agreement 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 **Rights Relating To Dividends, Subdivisions and Combinations.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Subject to the prior rights of holders of any Preferred Stock at the time outstanding having prior rights as to dividends, the holders of the Class A Common Stock and Class B Common Stock shall be entitled to receive, when, as and if declared by the Board, out of any assets of the Corporation legally available therefor, such dividends as may be declared from time to time by the Board. Except as permitted in <u>subsection 3.2.2</u> of this <u>Section A</u> (Common Stock) hereafter, any dividends paid to the holders of shares of Class A Common Stock and Class B Common Stock shall be paid pro rata, on an equal priority, pari passu basis, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and a majority of the outstanding shares of Class B Common Stock, each voting separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 The Corporation shall not declare or pay any dividend or make any distribution to the holders of Class A Common Stock or Class B Common Stock payable in securities of the Corporation unless the same dividend or distribution with the same record date and payment date shall be declared and paid on all shares of Common Stock; provided, however, that (i) dividends or other distributions payable in shares of Class A Common Stock or rights to acquire shares of Class A Common Stock may be declared and paid to the holders of Class A Common Stock without the same dividend or distribution being declared and paid to the holders of the Class B Common Stock if, and only if, a dividend payable in shares of Class B Common Stock, or rights to acquire shares of Class B Common Stock, as applicable, are declared and paid to the holders of Class B Common Stock at the same rate and with the same record date and payment date; and (ii) dividends or other distributions payable in shares of Class B Common Stock or rights to acquire shares of Class B Common Stock may be declared and paid to the holders of Class B Common Stock without the same dividend or distribution being declared and paid to the holders of the Class A Common Stock if, and only if, a dividend payable in shares of Class A Common Stock, or rights to acquire shares of Class A Common Stock, as applicable, are declared and paid to the holders of Class A Common Stock at the same rate and with the same record date and payment 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.3 If the Corporation in any manner subdivides or combines (including by reclassification) the outstanding shares of Class A Common Stock or Class B Common Stock, then the outstanding shares of all Common Stock will be subdivided or combined in the same proportion and manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 **Liquidation Rights**. In the event of a Liquidation Event, upon the completion of the distributions required with respect to any Preferred Stock that may then be outstanding, the remaining assets of the Corporation legally available for distribution to stockholders, or consideration payable to the stockholders of the Corporation, in the case of an Acquisition constituting a Liquidation Event, shall be distributed on an equal priority, pro rata basis to the holders of Class A Common Stock and Class B Common Stock (and the holders of any Preferred Stock that may then be outstanding, to the extent required by the Certificate of Incorporation), unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and a majority of the outstanding shares of Class B Common Stock, each voting separately as a class; *provided, however*, for the avoidance of doubt, compensation pursuant to any employment, consulting, severance or other compensatory arrangement to be paid to or received by a person who is also a holder of Class A Common Stock or Class B Common Stock does not constitute consideration or a "distribution to stockholders" in respect of the Class A Common Stock or Class B 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;3.4 **Voting Rights.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.1 <u>Class A Common Stock</u>. Each holder of shares of Class A Common Stock shall be entitled to one (1) vote for each share thereof held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.2 <u>Class B Common Stock</u>. Each holder of shares of Class B Common Stock shall be entitled to ten (10) votes for each share thereof held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.3 <u>Voting Generally</u>. Except as otherwise provided in this Certificate of Incorporation or required by law, the holders of Preferred Stock, Class A Common Stock and Class B Common Stock shall vote together and not as separate series or classes. Except as otherwise required by applicable law, holders of Class A Common Stock and Class B Common Stock, as such, shall not be entitled to vote on any amendment to the Certificate of Incorporation that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to this Certificate of Incorporation or applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <u>Optional Conversion of the Class B Common Stock</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5.1 At the option of the holder thereof, each share of Class B Common Stock shall be convertible, at any time or from time to time, into one fully paid and nonassessable share of Class A Common Stock as 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5.2 Each holder of Class B Common Stock who elects to convert the same into shares of Class A Common Stock shall surrender the certificate or certificates therefor (if any), duly endorsed, at the office of the Corporation or any transfer agent for the Class B Common Stock, and shall give written notice to the Corporation at such office that such holder elects to convert the same and shall state therein the number of shares of Class B Common Stock being converted. Such conversion shall be deemed to have been made immediately prior to the close of business on the date of such surrender of the certificate or certificates representing the shares of Class B Common Stock to be converted, or, if the shares are uncertificated, immediately prior to the close of business on the date that the holder delivers notice of such conversion to the Corporation's transfer agent and the person entitled to receive the shares of Class A Common Stock issuable upon such conversion shall be treated for all purposes as the record holder of such shares of Class A Common Stock at such 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 **Automatic Conversion.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1 <u>Automatic Conversion of the Class B Common Stock</u>. Each share of Class B Common Stock shall automatically be converted into one fully paid and nonassessable share of Class A Common Stock upon a Transfer, other than a Permitted Transfer, of such share of Class B Common Stock. Such conversion shall occur automatically without the need for any further action by the holders of such shares and whether or not the certificates representing such shares (if any) are surrendered to the Corporation or its transfer agent; *provided, however*, that the Corporation shall not be obligated to issue certificates evidencing the shares of Class A Common Stock issuable upon such conversion unless the certificates evidencing such shares of Class B Common Stock are either delivered to the Corporation or its transfer agent as provided below, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates. Upon the occurrence of such automatic conversion of the Class B Common Stock, the holders of Class B Common Stock so converted shall surrender the certificates representing such shares (if any) at the office of the Corporation or any transfer agent for the Class A 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.2 <u>Conversion upon Death</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;&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 of other than a Founder</u>. Each share of Class B Common Stock held of record by a natural person, including a natural person serving in a trustee capacity, other than a Founder (including a Founder holding shares in a trustee capacity) or a Permitted Transferee of such Founder, shall automatically, without any further action, convert into one fully paid and nonassessable share of Class A Common Stock upon the death of such natural person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Death of a Founder</u>. Each share of Class B Common Stock held of record by a Founder or a Permitted Transferee of such Founder will not result in the conversion of the Class B Common Stock to Class A Common Stock if the death results in a Permitted Transfer (i.e., death of the individual alone should not trigger automatic conversion).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.3 <u>Final Conversion</u>. On the Final Conversion Date, each issued share of Class B Common Stock shall automatically, without any further action, convert into one share of Class A Common Stock. Following the Final Conversion Date, the Corporation may no longer issue any additional shares of Class B Common Stock. Such conversion shall occur automatically without the need for any further action by the holders of such shares of Class B Common Stock and whether or not the certificates representing such shares (if any) are surrendered to the Corporation or its transfer agent; *provided, however,* that the Corporation shall not be obligated to issue certificates evidencing the shares of Class A Common Stock issuable upon such conversion unless the certificates evidencing such shares of Class B Common Stock are either delivered to the Corporation or its transfer agent as provided below, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates. Upon the occurrence of such automatic conversion of the Class B Common Stock, the holders of Class B Common Stock so converted shall surrender the certificates representing such shares (if any) at the office of the Corporation or any transfer agent for the Class A 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.4 <u>Procedures</u>. The Corporation may, from time to time, establish such policies and procedures relating to the conversion of Class B Common Stock to Class A Common Stock and the general administration of this dual class stock structure, including the issuance of stock certificates (or the establishment of book-entry positions) with respect thereto, as it may deem reasonably necessary or advisable, and may from time to time request that holders of shares of Class B Common Stock furnish certifications, affidavits or other proof to the Corporation as it deems necessary to verify the ownership of Class B Common Stock and to confirm that a conversion to Class A Common Stock has not occurred. A determination by the Secretary of the Corporation as to whether a Transfer results in a conversion to Class A Common Stock shall be conclusive and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.5 <u>Immediate Effect of Conversion</u>. In the event of a conversion of shares of Class B Common Stock to shares of Class A Common Stock pursuant to <u>subsection 3.6</u> of this <u>Section A</u> (Common Stock), such conversion(s) shall be deemed to have been made at the time that the Transfer of shares occurred or immediately upon the Final Conversion Date, as applicable. Upon any conversion of Class B Common Stock to Class A Common Stock, all rights of the holder of shares of Class B Common Stock shall cease and the person or persons in whose names or names the certificate or certificates (or book-entry position(s)) representing the shares of Class A Common Stock are to be issued shall be treated for all purposes as having become the record holder or holders of such shares of Class A 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;3.7 **Redemption**. The Common Stock is not redeemable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 **Reservation of Stock Issuable Upon Conversion**. The Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock, solely for the purpose of effecting the conversion of the shares of the Class B Common Stock, as applicable, such number of its shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Class B Common Stock; and if at any time the number of authorized but unissued shares of Class A Common Stock shall not be sufficient to effect the conversion of all then-outstanding shares of Class B Common Stock, as applicable, the Corporation will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Class A Common Stock to such numbers of shares as shall be sufficient for such purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 **Prohibition on Reissuance of Shares of Class B Common Stock**. Shares of Class B Common Stock that are acquired by the Corporation for any reason (whether by repurchase, upon conversion, or otherwise) shall be retired in the manner required by law and shall not be reissued as shares of Class B Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. PREFERRED STOCK

940 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series A-1 Preferred Stock**," 17,036 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series A-2 Preferred Stock**," 20,442 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series A-3 Preferred Stock**," 18,893 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series A-4 Preferred Stock**," 7,179 shares of the authorized Preferred Stock of the Corporation are hereby designated "**Series A-5 Preferred Stock**" and together with the Series A-1 Preferred Stock, the Series A-2 Preferred Stock, the Series A-3 Preferred Stock and the Series A-4 Preferred Stock (the "**Series A Preferred Stock**") and 78,222 shares of the authorized Preferred Stock are hereby designated as "**Series B Preferred Stock**."

The Preferred Stock shall have the following rights, preferences, powers, privileges and restrictions, qualifications and limitations. Unless otherwise indicated, references to "sections" or 'Sections" in this Part B of this Article Fourth refer to sections and Sections of Part B of this Article Fourth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Dividends</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;1.1 Holders of Series B Preferred Stock, in preference to the holders of Series A Preferred Stock, Common Stock or any other shares or securities of the Corporation ranking junior to the Series B Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption ("**Junior Securities**"), shall be entitled to receive, upon either (i) the liquidation, dissolution or winding up of the Corporation or a Deemed Liquidation Event or (ii) the mandatory conversion of the Series B Preferred Stock as a result of an IPO Event (as such term is defined in <u>subsection 5.1(a)</u> of this <u>Section B</u> (Preferred Stock)), cumulative dividends at the rate of six percent (6%) of the Series B Original Issue Price (as defined below) compounded per annum on each outstanding share of Series B Preferred Stock accruing as to each share from the date the Corporation actually received such investment. Notwithstanding anything to the contrary contained herein, any dividend payable pursuant to clause (ii) of this <u>subsection 1.1</u> of this <u>Section B</u> (Preferred Stock) shall be payable in shares of Class A Common Stock at a price per share equal to the offering price of the Class A Common Stock in the IPO Event. The "**Series B Original Issue Price**" shall mean $84.40 per share, subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the Series B Preferred 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;1.2 Holders of Series A Preferred Stock, in preference to the holders of Common Stock or any other shares or securities of the Corporation ranking junior to the Series A Preferred Stock in respect of the distribution of assets on the liquidation, dissolution or winding up of the Corporation, the payment of dividends or rights of redemption, shall be entitled to receive upon the liquidation, dissolution or winding up of the Corporation or a Deemed Liquidation Event, cumulative dividends at the rate of six percent (6%) of the applicable Series A Original Issue Price (as defined below) compounded per annum on each outstanding share of Series A Preferred Stock accruing as to each share from the date the Corporation actually received such investment. The "**Series A Original Issue Price**" shall mean $44.15 per share for each share of Series A-1 Preferred Stock, $36.79 per share for each share of Series A-2 Preferred Stock, $38.50 per share for each share of Series A-3 Preferred Stock, $54.00 per share for each share of Series A-4 Preferred Stock and $60.00 per share for each share of Series A-5 Preferred Stock, each subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the applicable sub-series of Series A Preferred 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;1.3 With respect to all dividends or distributions paid, declared, set aside or made by the Corporation other than those set forth in <u>subsections 1.1</u> and <u>1.2</u> of this <u>Section B</u> (Preferred Stock), whether in cash or property, the Corporation shall pay, set aside or declare such dividend or make such distribution among the holders of the shares of Preferred Stock and Common Stock, pro rata based on the number of shares held by each such holder, treating for this purpose all such securities as if they had been converted to Common Stock pursuant to the terms of the Certificate of Incorporation immediately prior to such dividend or 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 Whenever a dividend provided for in this <u>subsection 1</u> of this <u>Section B</u> (Preferred Stock) shall be payable in property other than cash, the value of such dividend shall be the fair market value of such dividend as determined in good faith by the Board of Directors of the Corporation (the "**Board of Directors**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Liquidation, Dissolution or Winding Up; Certain Mergers, Consolidations and Asset Sales</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;2.1 <u>Preferential Payments to Holders Preferred Stock</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1 In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the holders of shares of Series B Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders before any payment shall be made to the holders of Series A Preferred Stock, Common Stock or other Junior Securities by reason of their ownership thereof, an amount per share equal to the Series B Original Issue Price, plus the dividends set forth in <u>subsection 1.1</u> of this <u>Section B</u> (Preferred Stock) and any other dividends declared but unpaid on the Series B Preferred Stock (the "**Series B Preferential Amount**"). If upon any such any voluntary or involuntary liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series B Preferred Stock the full Series B Preferential Amount, the holders of shares of Series B Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Upon the occurrence of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event and after the payment of all preferential amounts to be paid to the holders of Series B Preferred Stock pursuant to <u>subsection 2.1.1</u> of this <u>Section B</u> (Preferred Stock), the holders of shares of each sub-series of Series A Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders before any payment shall be made to the holders of Common Stock by reason of their ownership thereof, an amount equal to the greater of (i) the applicable Series A Original Issue Price, plus the dividends set forth in <u>subsection 1.2</u> of this <u>Section B</u> (Preferred Stock) and any other dividends declared but unpaid on the applicable sub-series of Series A Preferred Stock, or (ii) such amount per share as would have been payable had all shares of such sub-series of Series A Preferred Stock been converted into Common Stock pursuant to <u>subsection 4</u> of this <u>Section B</u> (Preferred Stock) immediately prior to such liquidation, dissolution, winding up or Deemed Liquidation Event (the "**Series A Preferential Amount**"). If upon any such voluntary or involuntary liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of shares of Series A Preferred Stock the full Series A Preferential Amount, the holders of shares of Series A Preferred Stock shall share ratably in any distribution of the assets available for distribution in proportion to the respective amounts which would otherwise be payable in respect of the shares held by them upon such distribution if all amounts payable on or with respect to such shares were paid in full.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Distribution of Remaining Assets</u>. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation or Deemed Liquidation Event, after the payment of each of the Series B Preferential Amount and the Series A Preferential Amount, the remaining assets of the Corporation available for distribution to its stockholders shall be distributed among the holders of the shares of Series B Preferred Stock and Common Stock, pro rata based on the number of shares held by each such holder, treating for this purpose all such securities as if they had been converted to Common Stock pursuant to the terms of the Certificate of Incorporation immediately prior to such dissolution, liquidation or winding up of the Corporation or Deemed Liquidation Event. The aggregate amount which a holder of a share of Series B Preferred Stock is entitled to receive under <u>subsections 2.1.1</u> and <u>2.2</u> of this <u>Section B</u> (Preferred Stock) is hereinafter referred to as the "**Series B Liquidation Amount**" and the aggregate amount which a holder of a share of Series A Preferred Stock is entitled to receive under <u>subsection 2.1.2</u> of this <u>Section B</u> (Preferred Stock) is hereinafter referred to as the "**Series A Liquidation 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Deemed Liquidation Events</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.1 <u>Definition</u>. Each of the following events shall be considered a "**Deemed Liquidation 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a merger or consolidation in which

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Corporation is a constituent party 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;(ii) a subsidiary of the Corporation is a constituent party and the Corporation issues shares of its capital
stock pursuant to such merger or consolidation,

except any such merger or consolidation involving the Corporation or a subsidiary in which the shares of capital stock of the Corporation outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (1) the surviving or resulting corporation or (2) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Corporation or any subsidiary of the Corporation of all or substantially all the assets of the Corporation and its subsidiaries taken as a whole, or the sale or disposition (whether by merger or otherwise) of one or more subsidiaries of the Corporation if substantially all of the assets of the Corporation and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.2 <u>Effecting a Deemed Liquidation Event</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;&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 Corporation shall not have the power to effect a Deemed Liquidation Event referred to in <u>subsection 2.3.1(a)(i)</u> of this <u>Section B</u> (Preferred Stock) unless the agreement or plan of merger or consolidation for such transaction (the "**Merger Agreement**") provides that the consideration payable to the stockholders of the Corporation shall be allocated among the holders of capital stock of the Corporation in accordance with <u>subsections 2.1</u> and <u>2.2</u> of this <u>Section B</u> (Preferred 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;&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) In the event of a Deemed Liquidation Event referred to in <u>subsection 2.3.1(a)(ii)</u> or <u>2.3.1(b)</u> of this <u>Section B</u> (Preferred Stock), if the Corporation does not effect a dissolution of the Corporation under the General Corporation Law within 90 days after such Deemed Liquidation Event, then (i) the Corporation shall send a written notice to each holder of Preferred Stock no later than the 90th day after the Deemed Liquidation Event advising such holders of their right (and the requirements to be met to secure such right) pursuant to the terms of the following clause (ii) to require the redemption of such shares of Preferred Stock, and (ii) if the holders of at least 50% of the then outstanding shares of Preferred Stock so request in a written instrument delivered to the Corporation not later than 120 days after such Deemed Liquidation Event, the Corporation shall use the consideration received by the Corporation for such Deemed Liquidation Event (net of any retained liabilities associated with the assets sold or technology licensed, as determined in good faith by the Board of Directors)**,** together with any other assets of the Corporation available for distribution to its stockholders, all to the extent permitted by Delaware law governing distributions to stockholders (the "**Available Proceeds**"), on the 150th day after such Deemed Liquidation Event, to redeem all outstanding shares of Series B Preferred Stock and Series A Preferred Stock at a price per share equal to the Series B Liquidation Amount and the applicable Series A Liquidation Amount, respectively. Notwithstanding the foregoing, in the event of a redemption pursuant to the preceding sentence, if the Available Proceeds are not sufficient to redeem all outstanding shares of Preferred Stock, the Corporation shall redeem a pro rata portion of each holder's shares of such series of Preferred Stock to the fullest extent of such Available Proceeds, based on the respective amounts which would otherwise be payable in respect of the shares to be redeemed if the Available Proceeds were sufficient to redeem all such shares (and subject to the priority and preferences set forth in <u>subsection 2.1</u> of this <u>Section B</u> (Preferred Stock)), and shall redeem the remaining shares to have been redeemed as soon as practicable after the Corporation has funds legally available therefor. Notwithstanding anything herein to the contrary and for the avoidance of doubt, the Available Proceeds shall be used to redeem the outstanding shares of the Series A Preferred Stock only after all of the outstanding shares of the Series B Preferred Stock have been redeemed as provided herein. The Corporation shall be entitled to use such other reasonable and customary procedures as may be necessary to effect such distribution or redemption. Prior to the distribution or redemption provided for in this <u>subsection 2.3.2(b)</u> of this <u>Section B</u> (Preferred Stock), the Corporation shall not expend or dissipate the consideration received for such Deemed Liquidation Event, except to discharge expenses incurred in connection with such Deemed Liquidation 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.3 <u>Amount Deemed Paid or Distributed</u>. The amount deemed paid or distributed to the holders of capital stock of the Corporation upon any such merger, consolidation, sale, transfer, exclusive license, other disposition or redemption shall be the cash or the value of the property, rights or securities paid or distributed to such holders by the Corporation or the acquiring individual, corporation, partnership, trust, limited liability company, association or other entity ("**Person**"). The value of such property, rights or securities shall be determined in good faith by the Board of Directors of the Corporation using the reasonable application of reasonable valuation methods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Voting</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;3.1 <u>General</u>. On any matter presented to the stockholders of the Corporation for their action or consideration at any meeting of stockholders of the Corporation (or by written consent of stockholders in lieu of meeting), each holder of outstanding shares of Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Common Stock into which the shares of Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on such matter. Except as provided by law or by the other provisions of the Certificate of Incorporation, holders of Preferred Stock shall vote together with the holders of Common Stock as a single class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 <u>Election of Directors</u>. The holders of record of the shares of Series A Preferred Stock, exclusively and as a separate class, shall be entitled to elect three (3) directors of the Corporation; and the holders of record of the shares of Series B Preferred Stock, exclusively and as a separate class, shall be entitled to elect two (2) directors of the Corporation. Any director elected as provided in the preceding sentence may be removed without cause by, and only by, the affirmative vote of the holders of the shares of the class or series of capital stock entitled to elect such director or directors, given either at a special meeting of such stockholders duly called for that purpose or pursuant to a written consent of stockholders. If the holders of shares of Series A Preferred Stock or Series B Preferred Stock, as the case may be, fail to elect a sufficient number of directors to fill all directorships for which they are entitled to elect directors, voting exclusively and as a separate class, pursuant to the first sentence of this <u>subsection 3.2</u> of this <u>Section B</u> (Preferred Stock), then any directorship not so filled shall remain vacant until such time as the holders of the Series A Preferred Stock or Series B Preferred Stock, as the case may be, elect a person to fill such directorship by vote or written consent in lieu of a meeting; and no such directorship may be filled by stockholders of the Corporation other than by the stockholders of the Corporation that are entitled to elect a person to fill such directorship, voting exclusively and as a separate class. The holders of record of the shares of Common Stock and of any other class or series of voting stock (including the Preferred Stock), exclusively and voting together as a single class, shall be entitled to elect the balance of the total number of directors of the Corporation. At any meeting held for the purpose of electing a director, the presence in person or by proxy of the holders of a majority of the outstanding shares of the class or series entitled to elect such director shall constitute a quorum for the purpose of electing such director. Except as otherwise provided in this <u>subsection 3.2</u> of this <u>Section B</u> (Preferred Stock), a vacancy in any directorship filled by the holders of any class or series shall be filled only by vote or written consent in lieu of a meeting of the holders of such class or series or by any remaining director or directors elected by the holders of such class or series pursuant to this <u>subsection 3.2</u> of this <u>Section B</u> (Preferred 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;3.3 <u>Series B Preferred Stock Protective Provisions</u>. At any time when any shares of Series B Preferred Stock are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or the Certificate of Incorporation) the written consent or affirmative vote of the holders of at least 50% of the then outstanding shares of Series B Preferred Stock, in addition to the consent or vote of Fidelis Capital, LLC (for so long as it holds at least 25% of the outstanding shares of Series B Preferred Stock) and T1 Investments, LLC (for so long as it holds at least 25% of the outstanding shares of Series B Preferred Stock) (a "**Series B Majority**"), given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class, and any such act or transaction entered into without such consent or vote shall be null and void *ab initio*, and of no force or 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1 remove the Chief Executive Officer of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2 liquidate, dissolve or wind-up the business and affairs of the Corporation, or consent to any of the foregoing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.3 amend, alter or repeal any provision of the Certificate of Incorporation or Bylaws of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.4 create, or authorize the creation of, or issue or obligate itself to issue shares of, any additional class or series of capital stock, or increase the authorized number of shares of Preferred Stock or increase the authorized number of shares of any additional class or series of capital 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.5 purchase or redeem or pay any dividend on any capital stock prior to payment in full of the Series B Preferential Amount other than repurchases of stock from former employees, officers, directors, consultants or other persons who performed services for the Corporation or any subsidiary in connection with the cessation of such employment or service pursuant to agreements in existence at the time of the filing of this Certificate of Incorporation or which are approved by the Board of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.6 amend or create new compensation plans for key executives, officers, other employees, consultants or contractors of the Corporation, including hiring any employee, or engaging any consultant, independent contractor or other Person who shall provide services to the Corporation, to whom the Corporation would pay more than a base salary of $200,000 in any 12-month period, or modifying or amending any existing employment or other similar arrangement with any such Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.7 impair or circumvent a right of the holders of Series B Preferred Stock, including but not limited to through a transaction (or series of transactions) or other agreement outside the ordinary course of business; 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;3.3.8 increase or decrease the authorized number of directors constituting the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Preferred Stock Protective Provisions</u>. At any time when any shares of Preferred Stock are outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, do any of the following without (in addition to any other vote required by law or the Certificate of Incorporation) the written consent or affirmative vote of a Series B Majority and the holders of at least 50% of the then outstanding shares of Series A Preferred Stock given in writing or by vote at a meeting, consenting or voting (as the case may be) separately as a class, and any such act or transaction entered into without such consent or vote shall be null and void *ab initio*, and of no force or 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.1 sell, lease, transfer, assign or otherwise dispose of any material assets of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.2 effect any Deemed Liquidation Event or any merger, consolidation or conversion of or by the Corporation or an affiliate of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.3 enter into or amend any contract with or make any payment to any stockholder of the Company or any of its employees, owners or Affiliates other than (i) as expressly provided in the Certificate of Incorporation, Investors' Rights Agreement, Right of First Refusal and Co-Sale Agreement or Voting Agreement of the Corporation in effect from time to time; or (ii) pursuant to an agreement, contract or other similar binding document approved pursuant to this <u>subsection 3.4</u> of this <u>Section B</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.4 make any loan or advance to any Person, including any employee, director, stockholder or affiliate of the Corporation, except in the ordinary course 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.5 enter into any transaction with any director, officer, employee or affiliate of the Corporation except in the ordinary course 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.6 acquire or enter into any arrangement for the acquisition of all or substantially all of the voting interests or assets of any Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.7 incur any indebtedness (or any guarantee with respect to any indebtedness of any other Person) in excess of (a) (i) the amounts outstanding as of February 5, 2020; (ii) the convertible promissory notes issued pursuant to that certain Note Purchase Agreement, dated as of February 5, 2020; and (iii) any increase in indebtedness after February 5, 2020 to PAC West Bank, up to an aggregate maximum of $2,000,000, pursuant to that certain Financing Agreement, dated August 12, 2015, as amended; and (b) (i) $200,000 in any transaction or series of related transactions after February 5, 2020, or (ii) $500,000 in the aggregate after February 5, 2020, in each instance other than trade payables incurred in the ordinary course;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.8 make any capital expenditure in excess of $150,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.9 create any subsidiary of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.10 change the principal line of business of the Corporation or enter into any new line of business; 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;3.4.11 license or transfer intellectual property rights of the Corporation, except in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Optional Conversion</u>.

The holders of the Preferred Stock shall have conversion rights as follows (the "**Conversion Rights**"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 <u>Right to Convert</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1 <u>Conversion Ratio</u>. Each share of Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and nonassessable shares of Common Stock as is determined (a) in the case of the Series B Preferred Stock into shares of Class A Common Stock, by dividing the Series B Original Issue Price by the Series B Conversion Price (as defined below) in effect at the time of conversion and (b) in the case of the Series A Preferred Stock into shares of Class A Common Stock, by dividing the applicable Series A Original Issue Price by the applicable Series A Conversion Price (as defined below) in effect at the time of conversion. The "**Series B Conversion Price**" shall be equal to $50.67. The "**Series A Conversion Price**" shall initially be equal to $44.15 for each share of Series A-1 Preferred Stock, $36.79 for each share of Series A-2 Preferred Stock, $38.50 for each share of Series A-3 Preferred Stock, $54.00 for each share of Series A-4 Preferred Stock and $60.00 for each share of Series A-5 Preferred Stock. The term "**Conversion Price**" refers to the respective Series A Conversion Price as applicable to each sub-series of Series A Preferred Stock and the Series B Conversion Price as applicable to the Series B Preferred Stock, each as in effect from time to time. The initial Series B Conversion Price, the initial applicable Series A Conversion Price, and the rate at which shares of Series B Preferred Stock and Series A Preferred Stock may be converted into shares of Class A Common Stock shall be subject to adjustment as provided 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;&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>Termination of Conversion Rights</u>. In the event of a liquidation, dissolution or winding up of the Corporation or a Deemed Liquidation Event, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of Preferred 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;4.2 <u>Fractional Shares</u>. No fractional shares of Common Stock shall be issued upon conversion of the Preferred Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the fair market value of a share of Common Stock as determined in good faith by the Board of Directors. Whether or not fractional shares would be issuable upon such conversion shall be determined on the basis of the total number of shares of Preferred Stock the holder is at the time converting into Common Stock and the aggregate number of shares of Common Stock issuable upon such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Mechanics of Conversion</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.1 <u>Notice of Conversion</u>. In order for a holder of Preferred Stock to voluntarily convert shares of Preferred Stock into shares of Common Stock, such holder shall surrender the certificate or certificates for such shares of Preferred Stock (or, if such registered holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate), at the office of the transfer agent for the Preferred Stock (or at the principal office of the Corporation if the Corporation serves as its own transfer agent), together with written notice that such holder elects to convert all or any number of the shares of the Preferred Stock represented by such certificate or certificates and, if applicable, any event on which such conversion is contingent. Such notice shall state such holder's name or the names of the nominees in which such holder wishes the certificate or certificates for shares of Common Stock to be issued. If required by the Corporation, certificates surrendered for conversion shall be endorsed or accompanied by a written instrument or instruments of transfer, in form satisfactory to the Corporation, duly executed by the registered holder or his, her or its attorney duly authorized in writing. The close of business on the date of receipt by the transfer agent (or by the Corporation if the Corporation serves as its own transfer agent) of such certificates (or lost certificate affidavit and agreement) and notice shall be the time of conversion (the "**Conversion Time**"), and the shares of Common Stock issuable upon conversion of the shares represented by such certificate shall be deemed to be outstanding of record as of such date. The Corporation shall, as soon as practicable after the Conversion Time, (i) issue and deliver to such holder of Preferred Stock, or to his, her or its nominees, a certificate or certificates for the number of full shares of Common Stock issuable upon such conversion in accordance with the provisions hereof and a certificate for the number (if any) of the shares of Preferred Stock represented by the surrendered certificate that were not converted into Common Stock, (ii) pay in cash such amount as provided in <u>subsection 4.2</u> of this <u>Section B</u> (Preferred Stock) in lieu of any fraction of a share of Common Stock otherwise issuable upon such conversion and (iii) pay all declared but unpaid dividends on the shares of Preferred Stock converted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.2 <u>Reservation of Shares</u>. The Corporation shall at all times when the Preferred Stock shall be outstanding, reserve and keep available out of its authorized but unissued capital stock, for the purpose of effecting the conversion of the Preferred Stock, such number of its duly authorized shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding Preferred Stock; and if at any time the number of authorized but unissued shares of Class A Common Stock shall not be sufficient to effect the conversion of all then outstanding shares of the Preferred Stock, the Corporation shall take such corporate action as may be necessary to increase its authorized but unissued shares of Class A Common Stock to such number of shares as shall be sufficient for such purposes, including, without limitation, engaging in best efforts to obtain the requisite stockholder approval of any necessary amendment to the Certificate of Incorporation. Before taking any action which would cause an adjustment reducing the applicable Conversion Price below the then par value of the shares of Common Stock issuable upon conversion of the Preferred Stock, the Corporation will take any corporate action which may, in the opinion of its counsel, be necessary in order that the Corporation may validly and legally issue fully paid and nonassessable shares of Common Stock at such adjusted Conversion Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.3 <u>Effect of Conversion</u>. All shares of Preferred Stock which shall have been surrendered for conversion as herein provided shall no longer be deemed to be outstanding and all rights with respect to such shares shall immediately cease and terminate at the Conversion Time, except only the right of the holders thereof to receive shares of Common Stock in exchange therefor, to receive payment in lieu of any fraction of a share otherwise issuable upon such conversion as provided in <u>Section 4.2</u> of this <u>Section B</u> (Preferred Stock) and to receive payment of any dividends declared but unpaid thereon. Any shares of Preferred Stock so converted shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Preferred Stock accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.4 <u>No Further Adjustment</u>. Upon any such conversion, no adjustment to the applicable Conversion Price shall be made for any declared but unpaid dividends on the Preferred Stock surrendered for conversion or on the Common Stock delivered upon conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.5 <u>Taxes</u>. The Corporation shall pay any and all issue and other similar taxes that may be payable in respect of any issuance or delivery of shares of Common Stock upon conversion of shares of Preferred Stock pursuant to this <u>subsection 4</u> of this <u>Section B</u> (Preferred Stock). The Corporation shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of shares of Common Stock in a name other than that in which the shares of Preferred Stock so converted were registered, and no such issuance or delivery shall be made unless and until the Person requesting such issuance has paid to the Corporation the amount of any such tax or has established, to the satisfaction of the Corporation, that such tax has been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 <u>Adjustments to Series B Conversion Price for Diluting Issues</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.1 <u>Special Definitions</u>. For purposes of this Article Fourth, the following definitions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Option**" shall mean rights, options or warrants to subscribe for, purchase or otherwise acquire Common Stock or Convertible 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;&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) "**Series B Original Issue Date**" shall mean the date on which the first share of Series B Preferred Stock was issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Convertible Securities**" shall mean any evidences of indebtedness, shares or other securities directly or indirectly convertible into or exchangeable for Common Stock, but excluding Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Additional Shares of Common Stock**" shall mean all shares of Common Stock issued (or, pursuant to <u>subsection 4.4.3</u> below of this Section B (Preferred Stock), deemed to be issued) by the Corporation after the Series B Original Issue Date, other than (1) the following shares of Common Stock and (2) shares of Common Stock deemed issued pursuant to the following Options and Convertible Securities (clauses (1) and (2), collectively, "**Exempted 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) shares of Common Stock, Options or Convertible Securities issued as a dividend or distribution on Preferred
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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) shares of Common Stock, Options or Convertible Securities issued by reason of a dividend, stock split,
split-up or other distribution on shares of Common Stock that is covered by <u>subsection 4.5</u>, <u>4.6</u>, <u>4.7</u> or <u>4.8</u> of this <u>Section B</u> (Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) shares of Common Stock or Options issued to employees or directors of, or consultants or advisors to,
the Corporation or any of its subsidiaries pursuant to a plan, agreement or arrangement approved by the Board of Directors; 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;(iv) shares of Common Stock or Convertible Securities actually issued upon the exercise of Options or shares
of Common Stock actually issued upon the conversion or exchange of Convertible Securities, in each case provided such issuance is pursuant
to the terms of such Option or Convertible Security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Deemed Issue of Additional Shares of Common Stock</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;&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) If the Corporation at any time or from time to time after the Series B Original Issue Date shall issue any Options or Convertible Securities (excluding Options or Convertible Securities which are themselves Exempted Securities) or shall fix a record date for the determination of holders of any class of securities entitled to receive any such Options or Convertible Securities, then the maximum number of shares of Common Stock (as set forth in the instrument relating thereto, assuming the satisfaction of any conditions to exercisability, convertibility or exchangeability but without regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or, in the case of Convertible Securities and Options therefor, the conversion or exchange of such Convertible Securities, shall be deemed to be Additional Shares of Common Stock issued as of the time of such issue or, in case such a record date shall have been fixed, as of the close of business on such record 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;&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) If the terms of any Option or Convertible Security, the issuance of which resulted in an adjustment to the Series B Conversion Price pursuant to the terms of <u>subsection 4.4.4</u> of this <u>Section B</u> (Preferred Stock), are revised as a result of an amendment to such terms or any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either (1) any increase or decrease in the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any such Option or Convertible Security or (2) any increase or decrease in the consideration payable to the Corporation upon such exercise, conversion and/or exchange, then, effective upon such increase or decrease becoming effective, the Series B Conversion Price computed upon the original issue of such Option or Convertible Security (or upon the occurrence of a record date with respect thereto) shall be readjusted to the Series B Conversion Price as would have obtained had such revised terms been in effect upon the original date of issuance of such Option or Convertible Security. Notwithstanding the foregoing, no readjustment pursuant to this clause (b) shall have the effect of increasing the Series B Conversion Price to an amount which exceeds the lower of (i) the Series B Conversion Price in effect immediately prior to the original adjustment made as a result of the issuance of such Option or Convertible Security, or (ii) the Series B Conversion Price for such series of Preferred Stock that would have resulted from any issuances of Additional Shares of Common Stock (other than deemed issuances of Additional Shares of Common Stock as a result of the issuance of such Option or Convertible Security) between the original adjustment date and such readjustment 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;&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) If the terms of any Option or Convertible Security (excluding Options or Convertible Securities which are themselves Exempted Securities), the issuance of which did not result in an adjustment to the Series B Conversion Price pursuant to the terms of <u>subsection 4.4.4</u> of this <u>Section B</u> (Preferred Stock) (either because the consideration per share (determined pursuant to <u>subsection 4.4.5</u> of this <u>Section B</u> (Preferred Stock) of the Additional Shares of Common Stock subject thereto was equal to or greater than the Series B Conversion Price then in effect, or because such Option or Convertible Security was issued before the Series B Original Issue Date), are revised after the Series B Original Issue Date as a result of an amendment to such terms or any other adjustment pursuant to the provisions of such Option or Convertible Security (but excluding automatic adjustments to such terms pursuant to anti-dilution or similar provisions of such Option or Convertible Security) to provide for either (1) any increase in the number of shares of Common Stock issuable upon the exercise, conversion or exchange of any such Option or Convertible Security or (2) any decrease in the consideration payable to the Corporation upon such exercise, conversion or exchange, then such Option or Convertible Security, as so amended or adjusted, and the Additional Shares of Common Stock subject thereto (determined in the manner provided in <u>subsection 4.4.3(a)</u> of this <u>Section B</u> (Preferred Stock) shall be deemed to have been issued effective upon such increase or decrease becoming effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Upon the expiration or termination of any unexercised Option or unconverted or unexchanged Convertible Security (or portion thereof) which resulted (either upon its original issuance or upon a revision of its terms) in an adjustment to the Series B Conversion Price pursuant to the terms of <u>subsection 4.4.4</u> of this <u>Section B</u> (Preferred Stock), the Series B Conversion Price shall be readjusted to the Series B Conversion Price as would have obtained had such Option or Convertible Security (or portion thereof) never been issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, is calculable at the time such Option or Convertible Security is issued or amended but is subject to adjustment based upon subsequent events, any adjustment to the Series B Conversion Price provided for in this <u>subsection 4.4.3</u> of this <u>Section B</u> (Preferred Stock) shall be effected at the time of such issuance or amendment based on such number of shares or amount of consideration without regard to any provisions for subsequent adjustments (and any subsequent adjustments shall be treated as provided in clauses (b) and (c) of this <u>subsection 4.4.3</u> of this <u>Section B</u> (Preferred Stock)). If the number of shares of Common Stock issuable upon the exercise, conversion and/or exchange of any Option or Convertible Security, or the consideration payable to the Corporation upon such exercise, conversion and/or exchange, cannot be calculated at all at the time such Option or Convertible Security is issued or amended, any adjustment to the Series B Conversion Price that would result under the terms of this <u>subsection 4.4.3</u> of this <u>Section B</u> (Preferred Stock) at the time of such issuance or amendment shall instead be effected at the time such number of shares and/or amount of consideration is first calculable (even if subject to subsequent adjustments), assuming for purposes of calculating such adjustment to the Series B Conversion Price that such issuance or amendment took place at the time such calculation can first be 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.3 <u>Adjustment of Series B Conversion Price Upon Issuance of Additional Shares of Common Stock</u>. In the event the Corporation shall at any time after the Series B Original Issue Date issue Additional Shares of Common Stock (including Additional Shares of Common Stock deemed to be issued pursuant to <u>subsection 4.4.3</u> of this <u>Section B</u> (Preferred Stock)), without consideration or for a consideration per share less than the Series B Conversion Price in effect immediately prior to such issue, then the Series B Conversion Price shall be reduced, concurrently with such issue, to a price (calculated to the nearest one-hundredth of a cent) determined in accordance with the following formula:

CP<sub>2</sub> = CP<sub>1</sub>\* (A + B) ÷ (A + C).

For purposes of the foregoing formula, the following definitions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "CP<sub>2</sub>" shall mean the Series B Conversion Price in effect immediately after such issue of Additional 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "CP<sub>1</sub>" shall mean the Series B Conversion Price in effect immediately prior to such issue of Additional 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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" shall mean the number of shares of Common Stock outstanding immediately prior to such issue of Additional Shares of Common Stock (treating for this purpose as outstanding all shares of Common Stock issuable upon exercise of Options outstanding immediately prior to such issue or upon conversion or exchange of Convertible Securities (including the Preferred Stock) outstanding (assuming exercise of any outstanding Options therefor) immediately prior to such issue);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "B" shall mean the number of shares of Common Stock that would have been issued if such Additional Shares of Common Stock had been issued at a price per share equal to CP<sub>1</sub> (determined by dividing the aggregate consideration received by the Corporation in respect of such issue by CP<sub>1</sub>); 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "C" shall mean the number of such Additional Shares of Common Stock issued in such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.4 <u>Determination of Consideration</u>. For purposes of this <u>subsection 4.4</u> of this <u>Section B</u> (Preferred Stock), the consideration received by the Corporation for the issue of any Additional Shares of Common Stock shall be computed 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;&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>Cash and Property</u>: Such consideration shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) insofar as it consists of cash, be computed at the aggregate amount of cash received by the Corporation,
excluding amounts paid or payable for accrued interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) insofar as it consists of property other than cash, be computed at the fair market value thereof at the
time of such issue, as determined in good faith by the Board of Directors; 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;(iii) in the event Additional Shares of Common Stock are issued together with other shares or securities or
other assets of the Corporation for consideration which covers both, be the proportion of such consideration so received, computed as
provided in clauses (i) and (ii) above, as determined in good faith by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Options and Convertible Securities</u>. The consideration per share received by the Corporation for Additional Shares of Common Stock deemed to have been issued pursuant to <u>subsection 4.4.3</u> of this <u>Section B</u> (Preferred Stock), relating to Options and Convertible Securities, shall be determined by dividing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 total amount, if any, received or receivable by the Corporation as consideration for the issue of
such Options or Convertible Securities, plus the minimum aggregate amount of additional consideration (as set forth in the instruments
relating thereto, without regard to any provision contained therein for a subsequent adjustment of such consideration) payable to the
Corporation upon the exercise of such Options or the conversion or exchange of such Convertible Securities, or in the case of Options
for Convertible Securities, the exercise of such Options for Convertible Securities and the conversion or exchange of such Convertible
Securities, by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 maximum number of shares of Common Stock (as set forth in the instruments relating thereto, without
regard to any provision contained therein for a subsequent adjustment of such number) issuable upon the exercise of such Options or the
conversion or exchange of such Convertible Securities, or in the case of Options for Convertible Securities, the exercise of such Options
for Convertible Securities and the conversion or exchange of such Convertible 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4.5 <u>Multiple Closing Dates</u>. In the event the Corporation shall issue on more than one date Additional Shares of Common Stock that are a part of one transaction or a series of related transactions and that would result in an adjustment to the Series B Conversion Price pursuant to the terms of <u>subsection 4.4.4</u> of this <u>Section B</u> (Preferred Stock), then, upon the final such issuance, the Series B Conversion Price shall be readjusted to give effect to all such issuances as if they occurred on the date of the first such issuance (and without giving effect to any additional adjustments as a result of any such subsequent issuances within such period).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 <u>Adjustment for Stock Splits and Combinations</u>. If the Corporation shall at any time or from time to time after the Series B Original Issue Date effect a subdivision of the outstanding Common Stock, the Conversion Prices for all series of Preferred Stock in effect immediately before that subdivision shall be proportionately decreased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be increased in proportion to such increase in the aggregate number of shares of Common Stock outstanding. If the Corporation shall at any time or from time to time after the Series B Original Issue Date combine the outstanding shares of Common Stock, the Conversion Prices for all series of Preferred Stock in effect immediately before the combination shall be proportionately increased so that the number of shares of Common Stock issuable on conversion of each share of such series shall be decreased in proportion to such decrease in the aggregate number of shares of Common Stock outstanding. Any adjustment under this <u>subsection 4.5</u> of this <u>Section B</u> (Preferred Stock) shall become effective at the close of business on the date the subdivision or combination becomes effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 <u>Adjustment for Certain Dividends and Distributions</u>. In the event the Corporation at any time or from time to time after the Series B Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable on the Common Stock in additional shares of Common Stock, then and in each such event the Conversion Prices for all series of Preferred Stock in effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the applicable Conversion Price then in effect by a fraction:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, 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;(2) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution.

Notwithstanding the foregoing, (a) if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the applicable Conversion Price shall be recomputed accordingly as of the close of business on such record date and thereafter the applicable Conversion Price shall be adjusted pursuant to this <u>subsection 4.6</u> of this <u>Section B</u> (Preferred Stock) as of the time of actual payment of such dividends or distributions; and (b) that no such adjustment shall be made if the holders of such series of Preferred Stock simultaneously receive a dividend or other distribution of shares of Common Stock in a number equal to the number of shares of Common Stock as they would have received if all outstanding shares of such series of Preferred Stock had been converted into Common Stock on the date of such 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 <u>Adjustments for Other Dividends and Distributions</u>. In the event the Corporation at any time or from time to time after the Series B Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of the Corporation (other than a distribution of shares of Common Stock in respect of outstanding shares of Common Stock) or in other property and the provisions of <u>subsection 1</u> of this <u>Section B</u> (Preferred Stock) do not apply to such dividend or distribution, then and in each such event the holders series Preferred Stock shall receive, simultaneously with the distribution to the holders of Common Stock, a dividend or other distribution of such securities or other property in an amount equal to the amount of such securities or other property as they would have received if all outstanding shares of Preferred Stock had been converted into Common Stock on the date of such 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 <u>Adjustment for Merger or Reorganization, etc</u>. Subject to the provisions of <u>subsection 2.3</u> of this Section B (Preferred Stock), if there shall occur any reorganization, recapitalization, reclassification, consolidation or merger involving the Corporation in which the Common Stock (but not the Preferred Stock) is converted into or exchanged for securities, cash or other property (other than a transaction covered by <u>subsections 4.4</u>, <u>4.6</u> or <u>4.7</u> of this <u>Section B</u> (Preferred Stock)), then, following any such reorganization, recapitalization, reclassification, consolidation or merger, each share of Preferred Stock shall thereafter be convertible in lieu of the Common Stock into which it was convertible prior to such event into the kind and amount of securities, cash or other property which a holder of the number of shares of Common Stock of the Corporation issuable upon conversion of one share of Preferred Stock immediately prior to such reorganization, recapitalization, reclassification, consolidation or merger would have been entitled to receive pursuant to such transaction; and, in such case, appropriate adjustment (as determined in good faith by the Board of Directors) shall be made in the application of the provisions in this <u>subsection 4</u> of this <u>Section B (</u>Preferred Stock) with respect to the rights and interests thereafter of the holders of the Preferred Stock, to the end that the provisions set forth in this <u>subsection 4</u> of this <u>Section B</u> (Preferred Stock) (including provisions with respect to changes in and other adjustments of the applicable Conversion Prices) shall thereafter be applicable, as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable upon the conversion of the Preferred 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;4.9 <u>Certificate as to Adjustments</u>. Upon the occurrence of each adjustment or readjustment of the Conversion Price of a particular series of Preferred Stock pursuant to this <u>subsection 4</u> of this <u>Section B</u>, the Corporation at its expense shall, as promptly as reasonably practicable but in any event not later than 10 days thereafter, compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of Preferred Stock a certificate setting forth such adjustment or readjustment (including the kind and amount of securities, cash or other property into which the Preferred Stock is convertible) and showing in detail the facts upon which such adjustment or readjustment is based. The Corporation shall, as promptly as reasonably practicable after the written request at any time of any holder of Preferred Stock (but in any event not later than 10 days thereafter), furnish or cause to be furnished to such holder a certificate setting forth (i) the Conversion Price then in effect for such series of Preferred Stock, and (ii) the number of shares of Common Stock and the amount, if any, of other securities, cash or property which then would be received upon the conversion of such series of Preferred 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;4.10 <u>Notice of Record Date</u>. In the 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Corporation shall take a record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon conversion of the Preferred Stock) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive any other security; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) of any capital reorganization of the Corporation, any reclassification of the Common Stock of the Corporation, or any Deemed Liquidation Event; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) of the voluntary or involuntary dissolution, liquidation or winding-up of the Corporation,

then, and in each such case, the Corporation will send or cause to be sent to the holders of the Preferred Stock a notice specifying, as the case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution or right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is proposed to take place, and the time, if any is to be fixed, as of which the holders of record of Common Stock (or such other capital stock or securities at the time issuable upon the conversion of the Preferred Stock) shall be entitled to exchange their shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up, and the amount per share and character of such exchange applicable to the Preferred Stock and the Common Stock. Such notice shall be sent at least 10 days prior to the record date or effective date for the event specified in such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Mandatory Conversion</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;5.1 <u>Trigger Events</u>. Upon either (a) the closing of the sale of shares of the Class A Common Stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, resulting in at least $10 million of gross proceeds to the Corporation (an "**IPO Event**") or (b) the date and time, or the occurrence of an event, specified by vote or written consent of a Series B Majority (the time of such closing or the date and time specified or the time of the event specified in such vote or written consent is referred to herein as the "**Mandatory Conversion Time**"), (i) all outstanding shares of Series A Preferred Stock shall automatically be converted into shares of Class B Common Stock, at the then effective conversion rate, (ii) all outstanding shares of Series B Preferred Stock shall automatically be converted into shares of Class A Common Stock, at the then effective conversion rate and (iii) such shares of Preferred Stock may not be reissued by the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Procedural Requirements</u>. All holders of record of shares of Preferred Stock shall be sent written notice of the Mandatory Conversion Time and the place designated for mandatory conversion of all such shares of Preferred Stock pursuant to this <u>subsection 5</u> of this <u>Section B</u> (Preferred Stock). Such notice need not be sent in advance of the occurrence of the Mandatory Conversion Time. Upon receipt of such notice, each holder of shares of Preferred Stock shall surrender his, her or its certificate or certificates for all such shares (or, if such holder alleges that such certificate has been lost, stolen or destroyed, a lost certificate affidavit and agreement reasonably acceptable to the Corporation to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of such certificate) to the Corporation at the place designated in such notice. If so required by the Corporation, certificates surrendered for conversion shall be endorsed or accompanied by written instrument or instruments of transfer, in form satisfactory to the Corporation, duly executed by the registered holder or by his, her or its attorney duly authorized in writing. All rights with respect to the Preferred Stock converted pursuant to <u>subsection 5.1</u> of this <u>Section B</u> (Preferred Stock), including the rights, if any, to receive notices and vote (other than as a holder of Common Stock), will terminate at the Mandatory Conversion Time (notwithstanding the failure of the holder or holders thereof to surrender the certificates at or prior to such time), except only the rights of the holders thereof, upon surrender of their certificate or certificates (or lost certificate affidavit and agreement) therefor, to receive the items provided for in the next sentence of this <u>subsection 5.2</u> of this <u>Section B</u> (Preferred Stock). As soon as practicable after the Mandatory Conversion Time and the surrender of the certificate or certificates (or lost certificate affidavit and agreement) for Preferred Stock, the Corporation shall issue and deliver to such holder, or to his, her or its nominees, a certificate or certificates for the number of full shares of Common Stock issuable on such conversion in accordance with the provisions hereof, together with cash as provided in <u>subsection 4.2</u> of this <u>Section B</u> in lieu of any fraction of a share of Common Stock otherwise issuable upon such conversion and the payment of any declared but unpaid dividends on the shares of Preferred Stock converted. Such converted Preferred Stock shall be retired and cancelled and may not be reissued as shares of such series, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Preferred Stock accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Redeemed or Otherwise Acquired Shares</u>. Any shares of Preferred Stock that are redeemed or otherwise acquired by the Corporation or any of its subsidiaries shall be automatically and immediately cancelled and retired and shall not be reissued, sold or transferred. Neither the Corporation nor any of its subsidiaries may exercise any voting or other rights granted to the holders of Preferred Stock following redemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Waiver</u>. Any of the rights, powers, preferences and other terms set forth herein of the Preferred Stock generally may be waived on behalf of all holders of Preferred Stock by the affirmative written consent or vote of the holders of at least 50% of the shares of Series A Preferred Stock then outstanding and a Series B Majority. Any of the rights, powers, preferences and other terms set forth herein of the Series B Preferred Stock specifically may be waived on behalf of all holders of Series B Preferred Stock by the affirmative written consent or vote of a Series B Majority. Any of the rights, powers, preferences and other terms set forth herein of the Series A Preferred Stock specifically may be waived on behalf of all holders of Series A Preferred Stock by the affirmative written consent or vote of the holders of at least 50% of the shares of Series A Preferred Stock then outstanding. Any of the rights, powers, preferences and other terms set forth herein of any sub-series of the Series A Preferred Stock specifically may be waived on behalf of all holders of such sub-series of Series A Preferred Stock by the affirmative written consent or vote of the holders of at least 50% of the shares of such sub-series of Series A Preferred Stock then outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Notices</u>. Any notice required or permitted by the provisions of this Article Fourth to be given to a holder of shares of Preferred Stock shall be mailed, postage prepaid, to the post office address last shown on the records of the Corporation, or given by electronic communication in compliance with the provisions of the General Corporation Law, and shall be deemed sent upon such mailing or electronic transmission.

**Fifth:** Subject to any additional vote required by the Certificate of Incorporation or Bylaws, in furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized to make, repeal, alter, amend and rescind any or all of the Bylaws of the Corporation.

**Sixth:** Subject to any additional vote required by the Certificate of Incorporation, the number of directors of the Corporation shall be determined in the manner set forth in the Bylaws of the Corporation.

**Seventh:** Elections of directors need not be by written ballot unless the Bylaws of the Corporation shall so provide.

**Eighth:** Meetings of stockholders may be held within or without the State of Delaware, as the Bylaws of the Corporation may provide. The books of the Corporation may be kept outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or in the Bylaws of the Corporation.

**Ninth:** To the fullest extent permitted by law, a director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director. If the General Corporation Law or any other law of the State of Delaware is amended after approval by the stockholders of this Article Ninth to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law as so amended.

Any repeal or modification of the foregoing provisions of this Article Ninth by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of, or increase the liability of any director of the Corporation with respect to any acts or omissions of such director occurring prior to, such repeal or modification.

**Tenth:** To the fullest extent permitted by applicable law, the Corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the Corporation (and any other persons to which General Corporation Law permits the Corporation to provide indemnification) through Bylaw provisions, agreements with such agents or other Persons, vote of stockholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by Section 145 of the General Corporation Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Right to Indemnification of Directors and Officers</u>. The Corporation shall indemnify and hold harmless, to the fullest extent permitted by applicable law as it presently exists or may hereafter be amended, any person (each, an "**Indemnified Person**") who was or is made or is threatened to be made a party or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (each, a "**Proceeding**"), by reason of the fact that such person, or a person for whom such person is the legal representative, is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation or of a partnership, joint venture, limited liability company, trust, enterprise or nonprofit entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses (including attorneys' fees) reasonably incurred by such Indemnified Person in such Proceeding. Notwithstanding the preceding sentence, except as otherwise provided in <u>Section 3</u> of this Article Tenth, the Corporation shall be required to indemnify an Indemnified Person in connection with a Proceeding (or part thereof) commenced by such Indemnified Person only if the commencement of such Proceeding (or part thereof) by the Indemnified Person was authorized in advance by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Prepayment of Expenses of Directors and Officers</u>. The Corporation shall pay the expenses (including attorneys' fees) incurred by an Indemnified Person in defending any Proceeding in advance of its final disposition; <u>provided</u>, <u>however</u>, that, to the extent required by law, such payment of expenses in advance of the final disposition of the Proceeding shall be made only upon receipt of an undertaking by the Indemnified Person to repay all amounts advanced if it should be ultimately determined that the Indemnified Person is not entitled to be indemnified under this Article Tenth or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Claims by Directors and Officers</u>. If a claim for indemnification or advancement of expenses under this Article Tenth is not paid in full within 30 days after a written claim therefor by the Indemnified Person has been received by the Corporation, the Indemnified Person may file suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim. In any such action, the Corporation shall have the burden of proving that the Indemnified Person is not entitled to the requested indemnification or advancement of expenses under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Indemnification of Employees and Agents</u>. The Corporation may indemnify and advance expenses to any person who was or is made or is threatened to be made or is otherwise involved in any Proceeding by reason of the fact that such person, or a person for whom such person is the legal representative, is or was an employee or agent of the Corporation or, while an employee or agent of the Corporation, is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation or of a partnership, joint venture, limited liability company, trust, enterprise or nonprofit entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses (including attorneys' fees) reasonably incurred by such person in connection with such Proceeding. The ultimate determination of entitlement to indemnification of persons who are non-director or officer employees or agents shall be made in such manner as is determined by the Board of Directors in its sole discretion. Notwithstanding the foregoing sentence, the Corporation shall not be required to indemnify a person in connection with a Proceeding initiated by such person if the Proceeding was not authorized in advance by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Advancement of Expenses of Employees and Agents</u>. The Corporation may pay the expenses (including attorneys' fees) incurred by an employee or agent in defending any Proceeding in advance of its final disposition on such terms and conditions as may be determined by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Non-Exclusivity of Rights</u>. The rights conferred on any person by this Article Tenth shall not be exclusive of any other rights which such person may have or hereafter acquire under any statute, provision of the Certificate of Incorporation, the Bylaws of the Corporation, agreement, vote of stockholders or disinterested directors or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Other Indemnification</u>. The Corporation's obligation, if any, to indemnify any person who was or is serving at its request as a director, officer or employee of another Corporation, partnership, limited liability company, joint venture, trust, organization or other enterprise shall be reduced by any amount such person may collect as indemnification from such other Corporation, partnership, limited liability company, joint venture, trust, organization or other enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Insurance</u>. The Board of Directors may, to the full extent permitted by applicable law as it presently exists, or may hereafter be amended from time to time, authorize an appropriate officer or officers to purchase and maintain at the Corporation's expense insurance: (a) to indemnify the Corporation for any obligation which it incurs as a result of the indemnification of directors, officers, employees and agents under the provisions of this Article Tenth; and (b) to indemnify or insure directors, officers, employees and agents against liability in instances in which they may not otherwise be indemnified by the Corporation under the provisions of this Article Tenth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Amendment or Repeal</u>. Any amendment, repeal or modification of the foregoing provisions of this Article Tenth shall not adversely affect any right or protection hereunder of any person in respect of any act or omission occurring prior to the time of such amendment, repeal or modification. The rights provided hereunder shall inure to the benefit of any Indemnified Person and such person's heirs, executors and administrators.

Any amendment, repeal or modification of the foregoing provisions of this Article Tenth shall not adversely affect any right or protection of any director, officer or other agent of the Corporation existing at the time of such amendment, repeal or modification.

**Eleventh:** The Corporation renounces, to the fullest extent permitted by law, any interest or expectancy of the Corporation in, or in being offered an opportunity to participate in, any Excluded Opportunity. An "**Excluded Opportunity**" is any matter, transaction or interest that is presented to, or acquired, created or developed by, or which otherwise comes into the possession of, (i) any director of the Corporation who is not an employee of the Corporation or any of its subsidiaries, or (ii) any holder of Preferred Stock or any partner, member, director, stockholder, employee or agent of any such holder, other than someone who is an employee of the Corporation or any of its subsidiaries (collectively, "**Covered Persons**"), unless such matter, transaction or interest is presented to, or acquired, created or developed by, or otherwise comes into the possession of, a Covered Person expressly and solely in such Covered Person's capacity as a director of the Corporation.

\* \* \*

This Amended and Restated Certificate of Incorporation has been duly authorized in accordance with Sections 228, 242 and 245 of the General Corporation Law.

*[Signature Page Follows]*

T1V, Inc. has caused this Amended and Restated Certificate of Incorporation to be duly executed and acknowledged in its name and on its behalf by a duly authorized officer on _______________, 2023.

---

| | | |
|:---|:---|:---|
| **T1V, INC.** | **T1V, INC.** | **T1V, INC.** |
| By: |  |  |
|  | Name: | Michael Feldman |
|  | Title: | Chief Executive Officer |

---

## Exhibit 3.2

**Exhibit 3.2**

**CERTIFICATE OF AMENDMENT**

**TO THE** 

**AMENDED AND RESTATED**

**CERTIFICATE OF INCORPORATION**

**OF**

**T1V, INC.<br> ____________________________________________________________________________________________**

T1V, Inc. (the "<u>Corporation</u>"), a corporation duly organized and existing under the General Corporation Law of the State of Delaware (the "<u>DGCL</u>"), does hereby certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. The name of the Corporation is: T1V, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;2. The board of directors of the Corporation (the " <u>Board</u> ") duly adopted on the [___] day
of January, 2023, in accordance with Section 141(f) of the DGCL, a resolution proposing and declaring advisable an amendment to the Amended
and Restated Certificate of Incorporation of said Corporation to (i) increase the authorized capital stock of the Corporation and (ii)
consummate a 25-to-1 stock split of the Corporation's common stock, par value $0.001 per share (the " <u>Common Stock</u> "),
which such resolution was approved by the stockholders of the Corporation on the [__] day of [______], 2023.

&nbsp;&nbsp;&nbsp;&nbsp;3. The first paragraph of Article Fourth of the Amended and Restated Certificate of Incorporation is hereby
amended and restated in its entirety and replace with the following paragraph:

"**FOURTH**: The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 160,000,000 shares of Common Stock, $0.001 par value per share ("**Common Stock**"), (x) 150,000,000 shares of Common Stock which shall be classified as the Class A Common Stock, par value $0.001 per share and (y) 10,000,000 shares of Common Stock which shall be classified as the Class B Common Stock, and (ii) 142,712 shares of Preferred Stock, $0.001 par value per share ("**Preferred Stock**").

&nbsp;&nbsp;&nbsp;&nbsp;4. Article Fourth of the Amended and Restated Certificate of Incorporation is hereby further amended by adding
the following paragraph:

"Upon effectiveness of this Certificate of Amendment (the "<u>Split Effective Time</u>"), each share of Class A Common Stock issued and outstanding immediately prior to Split Effective Time shall be automatically changed and reclassified into a larger number of shares such that 1 share of issued Common Stock immediately prior to the Split Effective Time is reclassified into 25 shares of Class A Common Stock. Notwithstanding the immediately preceding sentence, there shall be no fractional shares issued, and any fraction of a share as a result of the reclassification, following the Split Effective Time, shall be rounded down. No stockholders will receive cash in lieu of fractional shares."

&nbsp;&nbsp;&nbsp;&nbsp;5. The aforesaid amendment was duly adopted in accordance with the applicable provisions of Section 242 of
the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;6. This Certificate of Amendment to the Amended and Restated Certificate of Incorporation shall be effective
as of [______,__], 202[_].

*[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE FOLLOWS]*

**IN WITNESS WHEREOF**, T1V, Inc. has caused this Certificate to be executed by its duly authorized officer on this [__] day of [________], 202[_].

---

| | | |
|:---|:---|:---|
| **T1V, INC.** | **T1V, INC.** | **T1V, INC.** |
| By: |  |  |
|  | Name: | Michael Feldman |
|  | Title: | Chief Executive Officer |

---

## Exhibit 3.3

**Exhibit 3.3**

**SECOND AMENDED AND RESTATED**

**CERTIFICATE OF INCORPORATION<br> OF<br> T1V, INC.**

**ONE:** The original date of filing the Certificate of Incorporation of this corporation with the Secretary of State of the State of Delaware was May 31, 2013, under the name T1Visions, Inc.

**TWO:** The undersigned, Michael Feldman, is the duly elected and acting Chief Executive Officer of **T1V, Inc.**, a Delaware corporation.

**THREE:** This Second Amended and Restated Certificate shall become effective on the date of filing w Secretary of State of Delaware.

**FOUR:** The Certificate of Incorporation of this corporation (as heretofore amended) is hereby amended and restated in its entirety to read as follows:

**First:** The name of this corporation is T1V, Inc. (the "**Corporation**").

**Second:** The address of the registered office of the Corporation in the State of Delaware is 1209 Orange Street, Wilmington, New Castle County, Delaware 19801. The name of its registered agent at such address is The Corporation Trust Company.

**Third:** The nature of the business or purposes to be conducted or promoted is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the "**General Corporation Law**").

**Fourth:** The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) 160,000,000 shares of Common Stock, $0.001 par value per share (the "**Common Stock**"), (x) 150,000,000 shares of Common Stock which shall be classified as the Class A Common Stock, par value $0.001 per share (the "**Class A Common Stock**") and (y) 10,000,000 shares of Common Stock which shall be classified as the Class B Common Stock (the "**Class B Common Stock**"), par value $0.001 per share, and (ii) 10,000,000 shares of Preferred Stock, $0.001 par value per share ("**Preferred Stock**"). The Class A Common Stock and the Class B Common Stock are sometimes collectively referred to hereafter as the "**Common Stock**."

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. 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;1. <u>General</u>. The voting, dividend and liquidation rights of the holders of the Common Stock are subject to and qualified by the rights, powers and preferences of the holders of the Preferred Stock set forth 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. <u>Rights of Common Stock</u>. The rights, preferences, privileges, restrictions and other matters relating to the Class A Common Stock and Class B Common Stock are 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;2.1 **Definitions.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 "*Acquisition*" means any consolidation or merger of the Corporation with or into any other Entity, other than any such consolidation or merger in which the stockholders of the Corporation immediately prior to such consolidation or merger continue to hold a majority of the voting power of the surviving Entity in substantially the same proportions (or, if the surviving Entity is a wholly owned subsidiary of another Entity, the surviving Entity's Parent) immediately after such consolidation, merger or reorganization; or (B) any transaction or series of related transactions to which the Corporation is a party in which in excess of 50% of the Corporation's voting power is transferred or issued; provided that an Acquisition shall not include any transaction or series of transactions principally for bona fide equity financing 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;&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 "*Asset Transfer*" means the sale, lease, transfer, assignment or exchange of all or substantially all the assets of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3 "*Board*" means the board of directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.4 "*Certificate of Incorporation*" means this Second Amended and Restated Certificate of Incorporation of the Corporation, as further amended and/or restated from time to time, including the terms of any certificate of designations of any series of Preferred 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.6 "*Effective Time*" means the time this Second Amended and Restated Certificate of Incorporation of the Corporation is filed with and accepted by the Secretary of State of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.7 "*Entity*" means any corporation, partnership, limited liability company or other legal entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.8 *"Family Member*" means with respect to any natural person, the spouse, parents, grandparents, lineal descendants, siblings and lineal descendants of siblings (in each case whether by blood relation or adoption) of such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.9 "*Final Conversion Date"* means the earliest of (a) the date that is six (6) months after the second to die of the Founders, (b) the date that is six (6) months after both of the Founders are no longer providing services to the Corporation as an officer, director or employee and (iii) the date specified by the holders of a majority of the then outstanding shares of Class B Common Stock voting separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10 "*Founders*" means Michael Feldman and James Morris and each is a "*Founder*."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.11 "*Independent Directors*" mean a majority of the members of the Board designated as independent directors in accordance with the requirements of (i) any national stock exchange under which the Corporation's equity securities are listed for trading that are generally applicable to companies with common equity securities listed thereon, or (ii) if the Corporation's equity securities are not listed for trading on a national stock exchange, the requirements of The Nasdaq Stock Market generally applicable to companies with equity securities listed thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.12 *"Liquidation Event*" means (i) any Asset Transfer or Acquisition in which cash or other property is, pursuant to the express terms of the Asset Transfer or Acquisition, to be distributed to the stockholders in respect of their shares of capital stock in the Corporation or (ii) any liquidation, dissolution and winding up of the Corporation; *provided, however,* for the avoidance of doubt, compensation pursuant to any employment, consulting, severance or other compensatory arrangement to be paid to or received by a person who is also a holder of Class A Common Stock or Class B Common Stock does not constitute consideration or a "distribution to stockholders" in respect of the Class A Common Stock or Class B 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.13 "*Parent*" of an Entity means any Entity that directly or indirectly owns or controls a majority of the voting power of the voting securities or interests of such Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.14 "*Permitted Entity*" means, with respect to a Qualified Stockholder, any Entity in which such Qualified Stockholder directly, or indirectly through one or more Permitted Transferees, has sole dispositive power and exclusive Voting Control with respect to all shares of Class B Common Stock held of record by such Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.15 "*Permitted Transfer*" means, and shall be restricted to, any Transfer of a share of Class B 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;&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 a Qualified Stockholder that is a natural person (including a natural person serving in a trustee capacity with regard to a trust for the benefit of himself or herself and/or his or her Family Members), to a Family Member of such Qualified Stockholder, to the trustee of a Permitted Trust of such Qualified Stockholder or to such Qualified Stockholder in his or her individual capacity or as a trustee of a Permitted Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 the trustee of a Permitted Trust of a Qualified Stockholder, to such Qualified Stockholder, a Family Member of such Qualified Stockholder, the trustee of any other Permitted Trust of such Qualified Stockholder or any Permitted Entity of such Qualified Stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 a Family Member of a Qualified Stockholder, to such Qualified Stockholder, another Family Member of such Qualified Stockholder, the trustee of any Permitted Trust of such Qualified Stockholder or any Permitted Entity of such Qualified Stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) by a Qualified Stockholder to any Permitted Entity of such Qualified Stockholder; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) by a Permitted Entity of a Qualified Stockholder to such Qualified Stockholder, a Family Member of such Qualified Stockholder, any other Permitted Entity or the trustee of a Permitted Trust of such Qualified Stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.16 "*Permitted Transferee*" means a transferee of shares of Class B Common Stock received in a Transfer that constitutes a Permitted Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.17 "*Permitted Trust*" means a validly created and existing trust the beneficiaries of which are either a Qualified Stockholder or Family Members of the Qualified Stockholder or both, or a trust under the terms of which such Qualified Stockholder has retained a "qualified interest" within the meaning of §2702(b)(1) of the Internal Revenue Code (as amended from time to time) and/or a reversionary interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.18 "*Qualified Stockholder*" means (i) the record holder of a share of Class B Common Stock at the Effective Time; (ii) the initial record holder of any share of Class B Common Stock that is originally issued by the Corporation thereafter (including, without limitation, upon conversion of any Preferred Stock or upon exercise of convertible notes, options or warrants); and (iii) a Permitted Transferee of a Qualified Stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.19 "*Trading Day*" means any day on which The Nasdaq Stock Market and the New York Stock Exchange are open for trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.20 "*Transfer*" of a share of Class B Common Stock means any sale, assignment, transfer, conveyance, hypothecation or other transfer or disposition of such share or any legal or beneficial interest in such share, whether or not for value and whether voluntary or involuntary or by operation of law, including, without limitation, a transfer of a share of Class B Common Stock to a broker or other nominee (regardless of whether there is a corresponding change in beneficial ownership), or the transfer of, or entering into a binding agreement with respect to, Voting Control (as defined below) over such share by proxy or otherwise; provided, however, that the following shall not be considered a "*Transfer*" within the meaning of this <u>Section A</u> (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;&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 granting of a revocable proxy to officers or directors of the Corporation at the request of the Board of Directors in connection with actions to be taken at an annual or special meeting of stockholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 existence of any proxy granted prior to the Effective Time or the amendment or expiration of any such proxy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) entering into a voting trust, agreement or arrangement (with or without granting a proxy) solely with stockholders who are holders of Class B Common Stock that (A) is disclosed either in a Schedule 13D filed with the Securities and Exchange Commission or in writing to the Secretary of the Corporation, (B) either has a term not exceeding one year or is terminable by the holder of the shares subject thereto at any time and (C) does not involve any payment of cash, securities, property or other consideration to the holder of the shares subject thereto other than the mutual promise to vote shares in a designated manner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the pledge of shares of Class B Common Stock by a stockholder that creates a mere security interest in such shares pursuant to a bona fide loan or indebtedness transaction for so long as such stockholder continues to exercise exclusive Voting Control over such pledged shares; provided, however, that a foreclosure on such shares or other similar action by the pledgee shall constitute a "*Transfer*" unless such foreclosure or similar action qualifies as a "*Permitted Transfer*;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) entering into, or reaching an agreement, arrangement or understanding regarding, a support or similar voting or tender agreement (with or without granting a proxy) in connection with a Liquidation Event, Asset Transfer or Acquisition that has been approved by the Board; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) granting a proxy by a Founder to a person disclosed to the Independent Directors, to exercise dispositive power and/or Voting Control of the shares of Preferred Stock, Class A Common Stock, and Class B Common Stock owned directly or indirectly, beneficially and of record, by such Founder effective either (i) on the death of such Founder or (ii) during any Disability Event of such Founder, including the exercise of such proxy by such person.

A "Transfer" shall also be deemed to have occurred with respect to a share of Class B Common Stock beneficially held by (i) a Permitted Transferee on the date that such Permitted Transferee ceases to meet the qualifications to be a Permitted Transferee of the Qualified Stockholder who effected the Transfer of such shares to such Permitted Transferee, or (ii) an Entity that is a Qualified Stockholder, if there occurs a Transfer on a cumulative basis, from and after the Effective Time, of a majority of the voting power of the voting securities of such Entity or any Parent of such Entity, other than a Transfer to parties that were, as of the Effective Time, holders of voting securities of any such Entity or Parent of such Entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.21 "*Voting Control*" means, with respect to a share of Preferred Stock, Class A Common Stock, or Class B Common Stock, the power (whether exclusive or shared) to vote or direct the voting of such share by proxy, voting agreement 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 **Rights Relating To Dividends, Subdivisions and Combinations.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.1 Subject to the prior rights of holders of any Preferred Stock at the time outstanding having prior rights as to dividends, the holders of the Class A Common Stock and Class B Common Stock shall be entitled to receive, when, as and if declared by the Board, out of any assets of the Corporation legally available therefor, such dividends as may be declared from time to time by the Board. Except as permitted in <u>subsection 2.3.2</u> of this <u>Section A</u> (Common Stock) hereafter, any dividends paid to the holders of shares of Class A Common Stock and Class B Common Stock shall be paid pro rata, on an equal priority, pari passu basis, unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and a majority of the outstanding shares of Class B Common Stock, each voting separately as a class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.2 The Corporation shall not declare or pay any dividend or make any distribution to the holders of Class A Common Stock or Class B Common Stock payable in securities of the Corporation unless the same dividend or distribution with the same record date and payment date shall be declared and paid on all shares of Common Stock; provided, however, that (i) dividends or other distributions payable in shares of Class A Common Stock or rights to acquire shares of Class A Common Stock may be declared and paid to the holders of Class A Common Stock without the same dividend or distribution being declared and paid to the holders of the Class B Common Stock if, and only if, a dividend payable in shares of Class B Common Stock, or rights to acquire shares of Class B Common Stock, as applicable, are declared and paid to the holders of Class B Common Stock at the same rate and with the same record date and payment date; and (ii) dividends or other distributions payable in shares of Class B Common Stock or rights to acquire shares of Class B Common Stock may be declared and paid to the holders of Class B Common Stock without the same dividend or distribution being declared and paid to the holders of the Class A Common Stock if, and only if, a dividend payable in shares of Class A Common Stock, or rights to acquire shares of Class A Common Stock, as applicable, are declared and paid to the holders of Class A Common Stock at the same rate and with the same record date and payment 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.3 If the Corporation in any manner subdivides or combines (including by reclassification) the outstanding shares of Class A Common Stock or Class B Common Stock, then the outstanding shares of all Common Stock will be subdivided or combined in the same proportion and manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 **Liquidation Rights**. In the event of a Liquidation Event, upon the completion of the distributions required with respect to any Preferred Stock that may then be outstanding, the remaining assets of the Corporation legally available for distribution to stockholders, or consideration payable to the stockholders of the Corporation, in the case of an Acquisition constituting a Liquidation Event, shall be distributed on an equal priority, pro rata basis to the holders of Class A Common Stock and Class B Common Stock (and the holders of any Preferred Stock that may then be outstanding, to the extent required by the Certificate of Incorporation), unless different treatment of the shares of each such class is approved by the affirmative vote of the holders of a majority of the outstanding shares of Class A Common Stock and a majority of the outstanding shares of Class B Common Stock, each voting separately as a class; *provided, however*, for the avoidance of doubt, compensation pursuant to any employment, consulting, severance or other compensatory arrangement to be paid to or received by a person who is also a holder of Class A Common Stock or Class B Common Stock does not constitute consideration or a "distribution to stockholders" in respect of the Class A Common Stock or Class B 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;2.4 **Voting Rights.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Class A Common Stock</u>. Each holder of shares of Class A Common Stock shall be entitled to one (1) vote for each share thereof held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Class B Common Stock</u>. Each holder of shares of Class B Common Stock shall be entitled to ten (10) votes for each share thereof held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Voting Generally</u>. Except as otherwise provided in this Certificate of Incorporation or required by law, the holders of Preferred Stock, Class A Common Stock and Class B Common Stock shall vote together and not as separate series or classes. Except as otherwise required by applicable law, holders of Class A Common Stock and Class B Common Stock, as such, shall not be entitled to vote on any amendment to the Certificate of Incorporation that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to this Certificate of Incorporation or applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 <u>Optional Conversion of the Class B Common Stock</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5.1 At the option of the holder thereof, each share of Class B Common Stock shall be convertible, at any time or from time to time, into one fully paid and nonassessable share of Class A Common Stock as 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;&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 Each holder of Class B Common Stock who elects to convert the same into shares of Class A Common Stock shall surrender the certificate or certificates therefor (if any), duly endorsed, at the office of the Corporation or any transfer agent for the Class B Common Stock, and shall give written notice to the Corporation at such office that such holder elects to convert the same and shall state therein the number of shares of Class B Common Stock being converted. Such conversion shall be deemed to have been made immediately prior to the close of business on the date of such surrender of the certificate or certificates representing the shares of Class B Common Stock to be converted, or, if the shares are uncertificated, immediately prior to the close of business on the date that the holder delivers notice of such conversion to the Corporation's transfer agent and the person entitled to receive the shares of Class A Common Stock issuable upon such conversion shall be treated for all purposes as the record holder of such shares of Class A Common Stock at such 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 **Automatic Conversion.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.1 <u>Automatic Conversion of the Class B Common Stock</u>. Each share of Class B Common Stock shall automatically be converted into one fully paid and nonassessable share of Class A Common Stock upon a Transfer, other than a Permitted Transfer, of such share of Class B Common Stock. Such conversion shall occur automatically without the need for any further action by the holders of such shares and whether or not the certificates representing such shares (if any) are surrendered to the Corporation or its transfer agent; *provided, however*, that the Corporation shall not be obligated to issue certificates evidencing the shares of Class A Common Stock issuable upon such conversion unless the certificates evidencing such shares of Class B Common Stock are either delivered to the Corporation or its transfer agent as provided below, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates. Upon the occurrence of such automatic conversion of the Class B Common Stock, the holders of Class B Common Stock so converted shall surrender the certificates representing such shares (if any) at the office of the Corporation or any transfer agent for the Class A 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.2 <u>Conversion upon Death</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;&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 of other than a Founder</u>. Each share of Class B Common Stock held of record by a natural person, including a natural person serving in a trustee capacity, other than a Founder (including a Founder holding shares in a trustee capacity) or a Permitted Transferee of such Founder, shall automatically, without any further action, convert into one fully paid and nonassessable share of Class A Common Stock upon the death of such natural person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Death of a Founder</u>. Each share of Class B Common Stock held of record by a Founder or a Permitted Transferee of such Founder will not result in the conversion of the Class B Common Stock to Class A Common Stock if the death results in a Permitted Transfer (i.e., death of the individual alone should not trigger automatic conversion).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.3 <u>Final Conversion</u>. On the Final Conversion Date, each issued share of Class B Common Stock shall automatically, without any further action, convert into one share of Class A Common Stock. Following the Final Conversion Date, the Corporation may no longer issue any additional shares of Class B Common Stock. Such conversion shall occur automatically without the need for any further action by the holders of such shares of Class B Common Stock and whether or not the certificates representing such shares (if any) are surrendered to the Corporation or its transfer agent; *provided, however,* that the Corporation shall not be obligated to issue certificates evidencing the shares of Class A Common Stock issuable upon such conversion unless the certificates evidencing such shares of Class B Common Stock are either delivered to the Corporation or its transfer agent as provided below, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation from any loss incurred by it in connection with such certificates. Upon the occurrence of such automatic conversion of the Class B Common Stock, the holders of Class B Common Stock so converted shall surrender the certificates representing such shares (if any) at the office of the Corporation or any transfer agent for the Class A 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.4 <u>Procedures</u>. The Corporation may, from time to time, establish such policies and procedures relating to the conversion of Class B Common Stock to Class A Common Stock and the general administration of this dual class stock structure, including the issuance of stock certificates (or the establishment of book-entry positions) with respect thereto, as it may deem reasonably necessary or advisable, and may from time to time request that holders of shares of Class B Common Stock furnish certifications, affidavits or other proof to the Corporation as it deems necessary to verify the ownership of Class B Common Stock and to confirm that a conversion to Class A Common Stock has not occurred. A determination by the Secretary of the Corporation as to whether a Transfer results in a conversion to Class A Common Stock shall be conclusive and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6.5 <u>Immediate Effect of Conversion</u>. In the event of a conversion of shares of Class B Common Stock to shares of Class A Common Stock pursuant to <u>subsection 2.6</u> of this <u>Section A</u> (Common Stock), such conversion(s) shall be deemed to have been made at the time that the Transfer of shares occurred or immediately upon the Final Conversion Date, as applicable. Upon any conversion of Class B Common Stock to Class A Common Stock, all rights of the holder of shares of Class B Common Stock shall cease and the person or persons in whose names or names the certificate or certificates (or book-entry position(s)) representing the shares of Class A Common Stock are to be issued shall be treated for all purposes as having become the record holder or holders of such shares of Class A 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;2.7 **Redemption**. The Common Stock is not redeemable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 **Reservation of Stock Issuable Upon Conversion**. The Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock, solely for the purpose of effecting the conversion of the shares of the Class B Common Stock, as applicable, such number of its shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Class B Common Stock; and if at any time the number of authorized but unissued shares of Class A Common Stock shall not be sufficient to effect the conversion of all then-outstanding shares of Class B Common Stock, as applicable, the Corporation will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Class A Common Stock to such numbers of shares as shall be sufficient for such purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 **Prohibition on Reissuance of Shares of Class B Common Stock**. Shares of Class B Common Stock that are acquired by the Corporation for any reason (whether by repurchase, upon conversion, or otherwise) shall be retired in the manner required by law and shall not be reissued as shares of Class B Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. PREFERRED STOCK

The Board of Directors of the corporation is hereby expressly authorized, by resolution or resolutions thereof and the filing of a certificate pursuant to the applicable law of the State of Delaware (hereinafter referred to as a "**Preferred Stock Designation**"), to provide, out of the unissued shares of Preferred Stock, for one or more series of Preferred Stock and, with respect to each such series, to fix the number of shares constituting such series and the designation of such series, the voting powers, if any, of the shares of such series, and the preferences and relative, participating, optional or other special rights, if any, and any qualifications, limitations or restrictions thereof, of the shares of such series. The powers, preferences and relative, participating, optional and other special rights of each series of Preferred Stock, and the qualifications, limitations or restrictions thereof, if any, may differ from those of any and all other series at any time outstanding. Subject to the first paragraph of this <u>Article FOURTH</u> and any Preferred Stock Designation, the Board of Directors is also expressly authorized to increase or decrease the number of shares of any series of Preferred Stock subsequent to the issuance of shares of that series, but not below the number of shares of such series then outstanding. Unless otherwise expressly provided in the certificate of designations in respect of any series of Preferred Stock, in case the number of shares of such series shall be decreased in accordance with the foregoing sentence, the shares constituting such decrease shall resume the status that they had prior to the adoption of the resolution originally fixing the number of shares of such series.

**Fifth:** Subject to any additional vote required by the Certificate of Incorporation or Bylaws, in furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized to make, repeal, alter, amend and rescind any or all of the Bylaws of the Corporation.

**Sixth:** Subject to any additional vote required by the Certificate of Incorporation, the number of directors of the Corporation shall be determined in the manner set forth in the Bylaws of the Corporation.

**Seventh:** Elections of directors need not be by written ballot unless the Bylaws of the Corporation shall so provide.

**Eighth:** Meetings of stockholders may be held within or without the State of Delaware, as the Bylaws of the Corporation may provide. The books of the Corporation may be kept outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or in the Bylaws of the Corporation.

**Ninth:** To the fullest extent permitted by law, a director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director. If the General Corporation Law or any other law of the State of Delaware is amended after approval by the stockholders of this Article Ninth to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law as so amended.

Any repeal or modification of the foregoing provisions of this Article Ninth by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of, or increase the liability of any director of the Corporation with respect to any acts or omissions of such director occurring prior to, such repeal or modification.

**Tenth:** To the fullest extent permitted by applicable law, the Corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the Corporation (and any other persons to which General Corporation Law permits the Corporation to provide indemnification) through Bylaw provisions, agreements with such agents or other Persons, vote of stockholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by Section 145 of the General Corporation Law.

&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>Right to Indemnification of Directors and Officers</u>. The Corporation shall indemnify and hold harmless, to the fullest extent permitted by applicable law as it presently exists or may hereafter be amended, any person (each, an "**Indemnified Person**") who was or is made or is threatened to be made a party or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (each, a "**Proceeding**"), by reason of the fact that such person, or a person for whom such person is the legal representative, is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation or of a partnership, joint venture, limited liability company, trust, enterprise or nonprofit entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses (including attorneys' fees) reasonably incurred by such Indemnified Person in such Proceeding. Notwithstanding the preceding sentence, except as otherwise provided in <u>Section 3</u> of this Article Tenth, the Corporation shall be required to indemnify an Indemnified Person in connection with a Proceeding (or part thereof) commenced by such Indemnified Person only if the commencement of such Proceeding (or part thereof) by the Indemnified Person was authorized in advance by the Board of Directors.

&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>Prepayment of Expenses of Directors and Officers</u>. The Corporation shall pay the expenses (including attorneys' fees) incurred by an Indemnified Person in defending any Proceeding in advance of its final disposition; <u>provided</u>, <u>however</u>, that, to the extent required by law, such payment of expenses in advance of the final disposition of the Proceeding shall be made only upon receipt of an undertaking by the Indemnified Person to repay all amounts advanced if it should be ultimately determined that the Indemnified Person is not entitled to be indemnified under this Article Tenth 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;3. <u>Claims by Directors and Officers</u>. If a claim for indemnification or advancement of expenses under this Article Tenth is not paid in full within 30 days after a written claim therefor by the Indemnified Person has been received by the Corporation, the Indemnified Person may file suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim. In any such action, the Corporation shall have the burden of proving that the Indemnified Person is not entitled to the requested indemnification or advancement of expenses under applicable law.

&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>Indemnification of Employees and Agents</u>. The Corporation may indemnify and advance expenses to any person who was or is made or is threatened to be made or is otherwise involved in any Proceeding by reason of the fact that such person, or a person for whom such person is the legal representative, is or was an employee or agent of the Corporation or, while an employee or agent of the Corporation, is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation or of a partnership, joint venture, limited liability company, trust, enterprise or nonprofit entity, including service with respect to employee benefit plans, against all liability and loss suffered and expenses (including attorneys' fees) reasonably incurred by such person in connection with such Proceeding. The ultimate determination of entitlement to indemnification of persons who are non-director or officer employees or agents shall be made in such manner as is determined by the Board of Directors in its sole discretion. Notwithstanding the foregoing sentence, the Corporation shall not be required to indemnify a person in connection with a Proceeding initiated by such person if the Proceeding was not authorized in advance by the Board of Directors.

&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. <u>Advancement of Expenses of Employees and Agents</u>. The Corporation may pay the expenses (including attorneys' fees) incurred by an employee or agent in defending any Proceeding in advance of its final disposition on such terms and conditions as may be determined by the Board of Directors.

&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. <u>Non-Exclusivity of Rights</u>. The rights conferred on any person by this Article Tenth shall not be exclusive of any other rights which such person may have or hereafter acquire under any statute, provision of the Certificate of Incorporation, the Bylaws of the Corporation, agreement, vote of stockholders or disinterested directors 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;7. <u>Other Indemnification</u>. The Corporation's obligation, if any, to indemnify any person who was or is serving at its request as a director, officer or employee of another Corporation, partnership, limited liability company, joint venture, trust, organization or other enterprise shall be reduced by any amount such person may collect as indemnification from such other Corporation, partnership, limited liability company, joint venture, trust, organization or other enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Insurance</u>. The Board of Directors may, to the full extent permitted by applicable law as it presently exists, or may hereafter be amended from time to time, authorize an appropriate officer or officers to purchase and maintain at the Corporation's expense insurance: (a) to indemnify the Corporation for any obligation which it incurs as a result of the indemnification of directors, officers, employees and agents under the provisions of this Article Tenth; and (b) to indemnify or insure directors, officers, employees and agents against liability in instances in which they may not otherwise be indemnified by the Corporation under the provisions of this Article Tenth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Amendment or Repeal</u>. Any amendment, repeal or modification of the foregoing provisions of this Article Tenth shall not adversely affect any right or protection hereunder of any person in respect of any act or omission occurring prior to the time of such amendment, repeal or modification. The rights provided hereunder shall inure to the benefit of any Indemnified Person and such person's heirs, executors and administrators.

Any amendment, repeal or modification of the foregoing provisions of this Article Tenth shall not adversely affect any right or protection of any director, officer or other agent of the Corporation existing at the time of such amendment, repeal or modification.

**Eleventh:** The Corporation renounces, to the fullest extent permitted by law, any interest or expectancy of the Corporation in, or in being offered an opportunity to participate in, any Excluded Opportunity. An "**Excluded Opportunity**" is any matter, transaction or interest that is presented to, or acquired, created or developed by, or which otherwise comes into the possession of, (i) any director of the Corporation who is not an employee of the Corporation or any of its subsidiaries, or (ii) any holder of Preferred Stock or any partner, member, director, stockholder, employee or agent of any such holder, other than someone who is an employee of the Corporation or any of its subsidiaries (collectively, "**Covered Persons**"), unless such matter, transaction or interest is presented to, or acquired, created or developed by, or otherwise comes into the possession of, a Covered Person expressly and solely in such Covered Person's capacity as a director of the Corporation.

\* \* \*

This Second Amended and Restated Certificate of Incorporation has been duly authorized in accordance with Sections 228, 242 and 245 of the General Corporation Law.

*[Signature Page Follows]*

T1V, Inc. has caused this Second Amended and Restated Certificate of Incorporation to be duly executed and acknowledged in its name and on its behalf by a duly authorized officer on _______________, 202_.

---

| | | |
|:---|:---|:---|
| **T1V, INC.** | **T1V, INC.** | **T1V, INC.** |
| By: |  |  |
|  | Name: | Michael Feldman |
|  | Title: | Chief Executive Officer |

---

## Exhibit 3.4

**Exhibit 3.4**

***As effective [_____], 2023***

**AMENDED AND RESTATED** 

**BYLAWS OF**

**T1V, INC.**

**(A Delaware Corporation)**

**Section 1. Law, Certificate of Incorporation and Bylaws**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 These amended and restated bylaws (hereinafter the "**bylaws**") are subject to the second amended and restated certificate of incorporation of T1V, Inc. (hereinafter the "**corporation**"), as may be amended from time to time, which is referred to herein as the "**certificate of incorporation**". In these bylaws, references to law, the certificate of incorporation and bylaws mean the law, the provisions of the certificate of incorporation and the bylaws as from time to time in effect.

**Section 2. Stockholders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <u>Annual Meeting</u>. The annual meeting of stockholders of the corporation, for the purpose of election of directors and for such other business as may properly come before it, shall be held at such date and time as shall be designated from time to time by the board of directors and stated in the notice of the meeting, at which time they shall elect a board of directors and transact such other business as may be required by law or these bylaws or as may properly come before the meeting. At an annual meeting of the stockholders, only such business shall be conducted as is a proper matter for stockholder action under Delaware law and as shall have been properly brought before the meeting in accordance with the procedures in this Section 2 and Section 3 below.

In addition to any other applicable requirements, for business (other than nominations) to be properly brought before an annual meeting by a stockholder, such stockholder must have given timely notice thereof in proper written form to the secretary and such business must otherwise be a proper matter for stockholder action, as explained in Section 2.4 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Special Meetings</u>. A special meeting of the stockholders may be called at any time by the chairman of the board, if any, the chief executive officer, the president or by a resolution adopted by the majority of the board of directors. No business may be transacted at a special meeting otherwise than as specified in the notice of meeting as described in Sections 2.4 and 2.5 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Place of Meeting</u>. All meetings of the stockholders for the election of directors or for any other purpose shall be held at such place within or without the State of Delaware as may be determined from time to time by the chairman of the board, if any, the president or the board of directors. Any adjourned session of any meeting of the stockholders shall be held at the place designated in the vote of adjournment. The board of directors may, in its sole discretion, determine that the meeting shall not be held at any place, but may instead be held solely by means of remote communication as provided under the Delaware General Corporation Law (hereinafter "**DGCL**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 <u>Notice of Meetings</u>. Except as otherwise provided by law, a written notice of each meeting of stockholders stating the place, day and hour thereof and, in the case of a special meeting, the purposes for which the meeting is called, shall be given not less than ten (10) nor more than sixty (60) days before the meeting, to each stockholder entitled to vote thereat, and to each stockholder who, by law, by the certificate of incorporation or by these bylaws, is entitled to notice, by leaving such notice with such stockholder or at such stockholder's residence or usual place of business, or by depositing it in the United States mail, postage prepaid, and addressed to such stockholder at such stockholder's address as it appears in the records of the corporation. Such notice shall be given by the secretary, or by an officer or person designated by the board of directors, or in the case of a special meeting by the officer calling the meeting. As to any adjourned session of any meeting of stockholders, notice of the adjourned meeting need not be given if the time and place thereof are announced at the meeting at which the adjournment was taken except that if the adjournment is for more than thirty (30) days or if after the adjournment a new record date is set for the adjourned session, notice of any such adjourned session of the meeting shall be given in the manner heretofore described. No notice of any meeting of stockholders or any adjourned session thereof need be given to a stockholder if a written waiver of notice, executed before or after the meeting or such adjourned session by such stockholder, is filed with the records of the meeting or if the stockholder attends such meeting without objecting at the beginning of the meeting to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any meeting of the stockholders or any adjourned session thereof need be specified in any written waiver of notice. All such waivers shall be kept with the books of the corporation. Attendance at a meeting shall constitute a waiver of notice of such meeting, except where a person attends for the express purpose of objecting to the transaction of any business on the ground that the meeting was not lawfully called or convened. Any meeting of stockholders as to which notice has been given may be postponed, and any meeting of stockholders as to which notice has been given may be cancelled, by the Board upon public announcement (as defined in Section 2.13 given before the date previously scheduled for such meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 <u>Advance Notice for Business at Meetings</u>. A stockholder's notice to the secretary with respect to any business, to be timely, must be received by the secretary at the principal executive offices of the corporation not later than the close of business on the 90th day nor earlier than the opening of business on the 120th day before the anniversary date of the immediately preceding annual meeting of stockholders; provided, however, that in the event that the annual meeting is more than thirty (30) days before or more than sixty (60) days after such anniversary date (or if there has been no prior annual meeting), notice by the stockholder to be timely must be so delivered not earlier than the close of business on the 120th day before the meeting and not later than the later of (A) the close of business on the 90th day before the meeting or (B) the close of business on the 10th day following the day on which public announcement of the date of the annual meeting is first made by the corporation. The public announcement, as defined in Section 2.13 below, of an adjournment or postponement of an annual meeting shall not commence a new time period (or extend any time period) for the giving of a stockholder's notice as described in this Section 2.5.

To be in proper written form, a stockholder's notice to the secretary with respect to any business (other than nominations) must set forth as to each such matter such stockholder proposes to bring before the annual meeting (A) a brief description of the business desired to be brought before the annual meeting, the text of the proposal or business (including the text of any resolutions proposed for consideration and in the event such business includes a proposal to amend these bylaws, the language of the proposed amendment) and the reasons for conducting such business at the annual meeting, (B) the name and record address of such stockholder and the name and address of the beneficial owner, if any, on whose behalf the proposal is made, (C) the class or series and number of shares of capital stock of the corporation that are owned beneficially and of record by such stockholder and by the beneficial owner, if any, on whose behalf the proposal is made, (D) a description of all arrangements or understandings between such stockholder and the beneficial owner, if any, on whose behalf the proposal is made and any other person or persons (including their names) in connection with the proposal of such business by such stockholder, (E) any material interest of such stockholder and the beneficial owner, if any, on whose behalf the proposal is made in such business and (F) a representation that such stockholder (or a qualified representative of such stockholder) intends to appear in person or by proxy at the annual meeting to bring such business before the meeting.

The foregoing notice requirements of this Section 2.5 shall be deemed satisfied by a stockholder as to any proposal (other than nominations) if the stockholder has notified the corporation of such stockholder's intention to present such proposal at an annual meeting in compliance with Rule 14a-8 (or any successor thereof) of the Securities Exchange Act of 1934, as amended, and such stockholder has complied with the requirements of such rule for inclusion of such proposal in a proxy statement prepared by the corporation to solicit proxies for such annual meeting. No business shall be conducted at the annual meeting of stockholders except business brought before the annual meeting in accordance with the procedures set forth in this Section 2.5, provided, however, that once business has been properly brought before the annual meeting in accordance with such procedures, nothing in this Section 2.5 shall be deemed to preclude discussion by any stockholder of any such business. If the board or the chairman of the annual meeting determines that any stockholder proposal was not made in accordance with the provisions of this Section 2.5 or that the information provided in a stockholder's notice does not satisfy the information requirements of this Section 2.5, such proposal shall not be presented for action at the annual meeting. Notwithstanding the foregoing provisions of this Section 2.5, if the stockholder (or a qualified representative of the stockholder) does not appear at the annual meeting of stockholders of the Corporation to present the proposed business, such proposed business shall not be transacted, notwithstanding that proxies in respect of such matter may have been received by the corporation.

In addition to the provisions of this Section 2.5, a stockholder shall also comply with all applicable requirements of the Securities Exchange Act of 1934 and the rules and regulations thereunder with respect to the matters set forth herein. Nothing in this Section 2.5 shall be deemed to affect any rights of stockholders to request inclusion of proposals in the Corporation's proxy statement pursuant to Rule 14a-8 under the Securities Exchange Act of 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 <u>Notice to Stockholders Sharing an Address</u>. Except as otherwise prohibited under DGCL, any notice given under the provisions of DGCL, the certificate of incorporation or the bylaws shall be effective if given by a single written notice to stockholders who share an address if consented to by the stockholders at that address to whom such notice is given. Such consent shall have been deemed to have been given if such stockholder fails to object in writing to the corporation within sixty (60) days of having been given notice by the corporation of its intention to send the single notice. Any consent shall be revocable by the stockholder by written notice to the corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 <u>Quorum of Stockholders</u>. At any meeting of the stockholders a quorum as to any matter shall consist of a majority of the votes entitled to be cast on the matter, except where a larger quorum is required by law, by the certificate of incorporation or by these bylaws. Any meeting may be adjourned from time to time by a majority of the votes properly cast upon the question, whether or not a quorum is present. If a quorum is present at an original meeting, a quorum need not be present at an adjourned session of that meeting. Shares of its own stock belonging to the corporation or to another corporation, if a majority of the shares entitled to vote in the election of directors of such other corporation is held, directly or indirectly, by the corporation, shall neither be entitled to vote nor be counted for quorum purposes; provided, however, that the foregoing shall not limit the right of any corporation to vote stock, including but not limited to its own stock, held by it in a fiduciary capacity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 <u>Action by Vote</u>. When a quorum is present at any meeting, a plurality of the votes properly cast for election to any office shall elect to such office and a majority of the votes properly cast upon any question other than an election to an office shall decide the question, except when a larger vote is required by law, by the certificate of incorporation or by these bylaws. No ballot shall be required for any election unless requested by a stockholder present or represented at the meeting and entitled to vote in the election.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 <u>Proxy Representation</u>. Every stockholder may authorize another person or persons to act for him or her by proxy in all matters in which a stockholder is entitled to participate, whether by waiving notice of any meeting, objecting to or voting or participating at a meeting, or expressing consent or dissent without a meeting. Every proxy must be signed by the stockholder or by such stockholder's attorney-in-fact. No proxy shall be voted or acted upon after three (3) years from its date unless such proxy provides for a longer period. A duly executed proxy shall be irrevocable if it states that it is irrevocable and, if, and only as long as, it is coupled with an interest sufficient in law to support an irrevocable power. A proxy may be made irrevocable regardless of whether the interest with which it is coupled is an interest in the stock itself or an interest in the corporation generally. The authorization of a proxy may but need not be limited to specified action, provided, however, that if a proxy limits its authorization to a meeting or meetings of stockholders, unless otherwise specifically provided such proxy shall entitle the holder thereof to vote at any adjourned session but shall not be valid after the final adjournment thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 <u>Inspectors</u>. The directors or the person presiding at the meeting may, but need not, appoint one (1) or more inspectors of election and any substitute inspectors to act at the meeting or any adjournment thereof. Each inspector, before entering upon the discharge of their 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 their ability. The inspectors, if any, shall determine the number of shares of stock outstanding and the voting power of each, the shares of stock 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 stockholders. Notwithstanding the foregoing, in the event that a stockholder seeks to nominate one (1) or more directors pursuant to Section 3.3 of these bylaws, the directors shall appoint two (2) inspectors, who shall not be affiliated with the corporation, to determine whether a stockholder has complied with Section 3.3 of these bylaws. If the inspector shall determine that a stockholder has not complied with Section 3.3 of these bylaws, the inspectors shall direct the person presiding over the meeting to declare to the meeting that a nomination was not made in accordance with the procedures prescribed by the bylaws; and the person presiding over the meeting shall so declare to the meeting and the defective nomination shall be disregarded. On request of the person presiding at the meeting, the inspectors shall make a report in writing of any challenge, question or matter determined by them and execute a certificate of any fact found by them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 <u>List of Stockholders</u>. The secretary shall prepare and make, at least ten (10) days before every meeting of stockholders, a complete list of the stockholders entitled to vote at such meeting, arranged in alphabetical order and showing the address of each stockholder and the number of shares registered in their name. The stock ledger shall be the only evidence as to who are stockholders entitled to examine such list or to vote in person or by proxy at such meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 <u>Joint Owners of Stock</u>. If shares or other securities having voting power stand of record in the names of two (2) or more persons, whether fiduciaries, members of a partnership, joint tenants, tenants in common, tenants by the entirety, or otherwise, or if two (2) or more persons have the same fiduciary relationship respecting the same shares, unless the secretary is given written notice to the contrary and is furnished with a copy of the instrument or order appointing them or creating the relationship wherein it is so provided, their acts with respect to voting shall have the following effect: (a) if only one (1) votes, their act binds all; (b) if more than one (1) votes, the act of the majority so voting binds all; (c) if more than one (1) votes, but the vote is evenly split on any particular matter, each faction may vote the securities in question proportionally, or may apply to the Delaware Court of Chancery for relief as provided in DGCL, Section 217(b). If the instrument filed with the Secretary shows that any such tenancy is held in unequal interests, a majority or even-split for the purpose of subsection (c) shall be a majority or even-split in interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 <u>Public Announcement</u>. For purposes of these bylaws, "**public announcement**" shall mean disclosure in a press release reported by the Dow Jones News Service, Associated Press or comparable national news service or in a document publicly filed or furnished by the corporation with the Securities and Exchange Commission pursuant to Sections 13, 14 or 15(d) of the Exchange Act (or any successor thereto).

**Section 3. Board of Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Number</u>. The number of directors which shall constitute the whole board shall not be less than three (3). The exact number of directors shall be fixed from time to time by a resolution adopted by a majority of directors. The number of directors may be increased at any time or from time to time by the directors by vote of a majority of the directors then in office. The number of directors may be decreased to any number permitted by the foregoing at any time by the directors by vote of a majority of the directors then in office, but only to eliminate vacancies existing by reason of the death, resignation or removal of one (1) or more directors. Directors need not be stockholders unless so required by the certificate of incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Tenure</u>. Except as otherwise provided by law, by the certificate of incorporation or by these bylaws, each director shall hold office until the successors of such director's class are elected and qualified, or until he or she sooner dies, resigns, is removed or becomes disqualified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Nomination</u>. Only persons who are nominated in accordance with the procedures set forth in this Section 3.3 shall be eligible for election as directors. Nominations of persons for election to the board of directors may be made by or at the direction of the board of directors or by any stockholder of the corporation entitled to vote for the election of directors at the meeting who complies with the notice procedures set forth in this Section 3.3. Such nominations, other than those made by or at the discretion of the board of directors, shall be made pursuant to timely notice in writing to the secretary.

To be timely, notice by the stockholder must be delivered to or mailed and received at the principal executive offices of the corporation not earlier than the close of business on the 120th day before the meeting and not later than the later of (A) the close of business on the 90th day before the meeting or (B) the close of business on the 10th day following the day on which public announcement of the date of the annual meeting is first made by the corporation.

Such stockholder's notice shall set forth (A) as to each person whom the stockholder proposes to nominate for election or reelection as a director, (i) the name, age, business address and residence address of such person, (ii) the principal occupation or employment of such person, (iii) the class and number of shares of the capital stock of the corporation which are beneficially owned by such person and (iv) any other information relating to such person that would be required to be disclosed in solicitations of proxies for election of directors, or would be otherwise required, in each case pursuant to Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (including without limitation such person's written consent to being named in the proxy statement as a without limitation such person's written consent to being named in the proxy statement as a nominee and to serving as a director if elected); and (B) as to the stockholder giving the notice (i) the name and address of such stockholder and (ii) the class and number of shares of the capital stock of the corporation which are beneficially owned (as defined by Rule 13d-3 of the Securities Exchange Act of 1934, as amended) by such stockholder. If requested in writing by the secretary at least fifteen (15) days in advance of the annual meeting, a stockholder whose shares are not registered in the name of such stockholder on the corporation's books shall provide the secretary, within ten (10) days of such request, with documentary support for such claim of beneficial ownership. At the request of the board of directors, any person nominated by the board of directors for election as a director shall furnish to the secretary that information required to be set forth in a stockholder's notice of nomination which pertains to the nominee.

In addition to the provisions of this Section 3.3, a stockholder shall also comply with all applicable requirements of the Securities Exchange Act of 1934 and the rules and regulations thereunder with respect to the matters set forth herein. Nothing in this Section 3.3 shall be deemed to affect any rights of stockholders to request inclusion of proposals in the corporation's proxy statement pursuant to Rule 14a-8 under the Securities Exchange Act of 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Powers</u>. The business and affairs of the corporation shall be managed by or under the direction of the board of directors who shall have and may exercise all the powers of the corporation and do all such lawful acts and things as are not by law, the certificate of incorporation or these bylaws directed or required to be exercised or done by the stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <u>Vacancies</u>. Vacancies and any newly created directorships resulting from any increase in the number of directors may be filled by vote of the stockholders at a meeting called for the purpose, or by a majority of the directors then in office, although less than a quorum, or by a sole remaining director. When one (1) or more directors shall resign from the board, effective at a future date, a majority of the directors then in office, including those who have resigned, shall have power to fill such vacancy or vacancies, the vote or action by writing thereon to take effect when such resignation or resignations shall become effective. The directors shall have and may exercise all their powers notwithstanding the existence of one (1) or more vacancies in their number, subject to any requirements of law or of the certificate of incorporation or of these bylaws as to the number of directors required for a quorum or for any vote or other actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 <u>Regular Meetings</u>. Regular meetings of the board of directors may be held without call or notice at such places within or without the State of Delaware and at such times as the board may from time to time determine, provided that notice of the first regular meeting following any such determination shall be given to absent directors. A regular meeting of the directors may be held without call or notice immediately after and at the same place as the annual meeting of the stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 <u>Special Meetings</u>. Special meetings of the board of directors may be held at any time and at any place within or without the State of Delaware designated in the notice of the meeting, when called by the chairman of the board, if any, the president, or by one-third or more in number of the directors, reasonable notice thereof being given to each director by the secretary or by the chairman of the board, if any, the president or any one (1) of the directors calling the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 <u>Notice</u>. Except as otherwise provided by law, any time it is necessary to give notice of a board of directors' meeting, notice shall be given (i) in person or by telephone to the director at least twenty-four (24) hours in advance of the meeting, (ii) by personally delivering written notice to the director's last known business or home address at least twenty-four (24) hours in advance of the meeting, (iii) by delivering an electronic transmission (including, without limitation, via telefacsimile or electronic mail) to the director's last known number or address for receiving electronic transmissions of that type at least twenty-four (24) hours in advance of the meeting, (iv) by depositing written notice with a reputable delivery service or overnight carrier addressed to the director's last known business or home address for delivery to that address no later than the business day preceding the date of the meeting or (v) by depositing written notice in the U.S. mail, postage prepaid, addressed to the director's last known business or home address no later than the third business day preceding the date of the meeting. Notice of a meeting need not be given to any director if a written waiver of notice, executed by him or her, or a waiver sent by electronic transmission by him or her, in either case before or after the meeting, is filed with the records of the meeting, or to any director who attends the meeting without protesting prior thereto or at its commencement the lack of notice to him or her. Neither notice of a meeting nor a wavier of a notice need specify the purposes of the meeting. All such waivers shall be kept with the books of the corporation. Attendance at a meeting shall constitute a waiver of notice of such meeting, except where a person attends for the express purpose of objecting to the transaction of any business on the ground that the meeting was not lawfully called or convened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 <u>Quorum</u>. Except as may be otherwise provided by law, by the certificate of incorporation or these bylaws, at any meeting of the directors a majority of the directors then in office shall constitute a quorum; a quorum shall not in any case be less than one-third of the total number of directors constituting the whole board, with a minimum of two (2) directors constituting a quorum. Any meeting may be adjourned from time to time by a majority of the votes cast upon the question, whether or not a quorum is present, and the meeting may be held as adjourned without further notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 <u>Action by Vote</u>. Except as may be otherwise provided by law, by the certificate of incorporation or by these bylaws, when a quorum is present at any meeting the vote of a majority of the directors present shall be the act of the board of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 <u>Action Without a Meeting</u>. Any action required or permitted to be taken at any meeting of the board of directors or a committee thereof may be taken without a meeting if all the members of the board or of such committee, as the case may be, consent thereto in writing or by electronic transmission, and such writing or writings or electronic transmission or transmissions are filed with the records of the meetings of the board or of such committee. Such consent shall be treated for all purposes as the act of the board or of such committee, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 <u>Participation in Meetings by Conference Telephone</u>. Members of the board of directors, or any committee designated by such board, may participate in a meeting of such board or committee by means of conference telephone or similar communications equipment by means of which all persons participating in the meting can hear each other or by any other means permitted by law. Such participation shall constitute presence in person at such meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14 <u>Compensation</u>. In the discretion of the board of directors, each director may be paid such fees for their services as director and be reimbursed from their reasonable expenses incurred in the performance of their duties as director as the board of directors from time to time may determine. Nothing contained in this section shall be construed to preclude any director from serving the corporation in any other capacity and receiving reasonable compensation therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15 <u>Interested Directors and Officers</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No contract or transaction between the corporation and one (1) or more of its directors or officers, or between the corporation and any other corporation, partnership, association, or other organization in which one (1) or more of the corporation's directors or officers are directors or officers, or have a financial interest, shall be void or voidable, solely for this reason, or solely because the director officer is present at or participates in the meeting of the board or committee thereof which authorizes the contract or transaction, or solely because such director or officer or their votes are counted for such purpose, if:

&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) The material facts as to their relationship or interest and as to the contract or transaction are disclosed or are known to the board of directors or the committee, and the board or committee in good faith authorizes the contract or transaction by the affirmative votes of majority of the disinterested directors, even though the disinterested directors be less than a quorum: 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;(2) The material facts as to their relationship or interest and as to the contract or transaction are disclosed or are known to the stockholder entitled to vote thereon, and the contract or transaction is specifically approved in good faith by vote of the stockholders; 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;(3) The contract or transaction is fair as to the corporation as of the time it is authorized, approved or ratified by the board of directors, a committee thereof, or the stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Common or interested directors may be counted in determining the presence of a quorum at a meeting of the board of directors or of a committee which authorized the contract or transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise prohibited by applicable law, the corporation may lend money to, or guarantee any obligation of, or otherwise assist any officer or other employee of the corporation or of its subsidiaries, including any officer or employee who is a director of the corporation or its subsidiaries, whenever, in the judgment of the board of directors, such loan, guarantee or assistance may reasonably be expected to benefit the corporation. The loan, guarantee or other assistance may be with or without interest and may be unsecured, or secured in such manner as the board of directors shall approve, including, without limitation, a pledge of shares of stock of the corporation. Nothing in these bylaws shall be deemed to deny, limit or restrict the powers of guaranty or warranty of the corporation at common law or under any statute.

**Section 4. Officers and Agents.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Enumeration: Qualification</u>. The officers of the corporation shall be a president, a chief executive officer, a chief financial officer, a treasurer, a secretary and such other officers, if any, as the board of directors from time to time may in its discretion elect or appoint including without limitation a chairman of the board, one (1) or more executive vice presidents or vice presidents and a controller. The corporation may also have such agents, if any, as the board of directors from time to time may in its discretion choose. Any officer may be but none need be a director or stockholder. Any two (2) or more offices may be held by the same person. Any officer may be required by the board of directors to secure the faithful performance of his duties to the corporation by giving bond in such amount and with sureties or otherwise as the board of directors may determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Powers</u>. Subject to law, to the certificate of incorporation and to the other provisions of these bylaws, each officer shall have, in addition to the duties and powers herein set forth, such duties and powers as are commonly incident to their office and such additional duties and powers as the board of directors may from time to time designate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Election</u>. The officers may be elected by the board of directors at their first meeting following the annual meeting of the stockholders or at any other time. At any time or from time to time the directors may delegate to any officer their power to elect or appoint any other officer or any agents, notwithstanding any provision hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>Tenure</u>. Each officer shall hold office until the first meeting of the board of directors following the next annual meeting of the stockholders and until their respective successor is chosen and qualified unless a shorter period shall have been specified by the terms of their election or appointment, or in each case until he or she sooner dies, resigns, is removed by the board of directors or becomes disqualified. Each agent shall retain their authority at the pleasure of the directors, or the officer by whom he or she was appointed or by the officer who then holds agent appointive power.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <u>Chairman of the board of directors, President and Vice President</u>. The chairman of the board, if any, shall have such duties and powers as shall be designated from time to time by the board of directors. Unless the board of directors otherwise specifies, the chairman of the board, or if there is none the chief executive officer, shall preside, or designate the person who shall preside, at all meetings of the stockholders and of the board of directors.

Unless the board of directors otherwise specifies, the president shall be the chief executive officer and shall have direct charge of all business operations of the corporation and, subject to the control of the directors, shall have general charge and supervision of the business of the corporation.

A Vice President may assume and perform the duties of the President in the absence or disability of the President or whenever the office of President is vacant. Any vice president shall have such duties and powers as shall be set forth in these bylaws or as shall be designated from time to time by the board of directors or by the president.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 <u>Chief Financial Officer and Assistant Treasurers</u>. Unless the board of directors otherwise specifies, the chief financial officer shall be the treasurer of the corporation and shall be in charge of its funds and valuable papers, and shall have such other duties and powers as may be designated from time to time by the board of directors or by the president. If no controller is elected, the chief financial officer shall, unless the board of directors otherwise specifies, also have the duties and powers of the controller.

Any assistant treasurers shall have such duties and powers as shall be designated from time to time by the board of directors, the president or the chief financial officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 <u>Controller and Assistant Controller</u>. If a controller is elected, he or she shall, unless the board of directors otherwise specifies, be the chief accounting officer of the corporation and be in charge of its books of account and accounting records, and of its accounting procedures. He or she shall have such other duties and powers and may be designated from time to time by the board of directors, the president or the treasurer.

Any assistant controller shall have such duties and powers as shall be designated from time to time by the board of directors, the president, the treasurer or the controller.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 <u>Secretary and Assistant Secretaries</u>. The secretary shall record all proceedings of the stockholders, of the board of directors and of committees of the board of directors in a book or series of books to be kept therefore and shall file therein all actions by written consent of stockholders or directors. In the absence of the secretary from any meeting, an assistant secretary, or if there be none or he or she is absent, a temporary secretary chosen at the meeting, shall record the proceedings thereof. Unless a transfer agent has been appointed the secretary shall keep or cause to be kept the stock and transfer records of the corporation, which shall contain the names and record addresses of all stockholders and the number of shares registered in the name of each stockholder. He or she shall have such other duties and powers as may from time to time be designated by the board of directors or the president. Any assistant secretaries shall have such duties and powers as shall be designated from time to time by the board of directors, the president or the secretary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 <u>Securities of Other Corporations</u>. Powers of attorney, proxies, waivers of notice of meeting, consents in writing and other instruments relating to securities owned by the corporation may be executed in the name of and on behalf of the corporation by the chairman of the board, chief executive officer, president, any vice president or any officers authorized by the board. Any such officer, may, in the name of and on behalf of the corporation, take all such action as any such officer may deem advisable to vote in person or by proxy at any meeting of security holders of any corporation in which the corporation may own securities, or to consent in writing, in the name of the corporation as such holder, to any action by such corporation, and at any such meeting or with respect to any such consent shall possess and may exercise any and all rights and power incident to the ownership of such securities and which, as the owner thereof, the corporation might have exercised and possessed. The board may from time to time confer like powers upon any other person or persons.

**Section 5. Resignations and Removals.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>Resignation</u>. Any director or officer may resign at any time by delivering their resignation in writing or by electronic transmission to the chairman of the board, if any, the president, or the secretary or to a meeting of the board of directors. Such resignation shall be effective upon receipt unless specified to be effective at some other time, and without in either case the necessity of its being accepted unless the resignation shall so state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Removal</u>. A director may be removed from office with or without cause by the vote of the holders of a majority of the shares issued and outstanding and entitled to vote in the election of directors. The board of directors may at any time remove any officer either with or without cause. The board of directors may at any time terminate or modify the authority of any agent. No director of officer resigning and (except where a right to receive compensation shall be expressly provided in a duly authorized written agreement with the corporation) no director or officer removed shall have any right to any compensation as such director or officer for any period following their resignation or removal, or any right to damages on account of such removal, whether their compensation be by the month or by the year or otherwise; unless, in the case of a resignation, the directors, or, in the case of removal, the body acting on the removal, shall in their or its discretion provide for compensation.

**Section 6. Vacancies.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 If the office of the president or the treasurer or the secretary becomes vacant, the directors may elect a successor by vote of a majority of the directors then in office. If the office of any other officer becomes vacant, any person or body empowered to elect or appoint that officer may choose a successor. Each such successor shall hold office for the unexpired term, and in the case of the president, the treasurer and the secretary until their successor is chosen and qualified or in each case he or she sooner dies, resigns, is removed or becomes disqualified. Any vacancy of a directorship shall be filled as specified in Section 3.5 of these bylaws.

**Section 7. Capital Stock.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Stock Certificates</u>. The shares of the corporation shall be represented by certificates, provided that the board of directors of the corporation may provide by resolution or resolutions that some or all of any or all classes or series of its stock shall be uncertificated shares. Any such resolution shall not apply to shares represented by a certificate until such certificate is surrendered to the corporation. Notwithstanding the adoption of such a resolution by the board of directors, every holder of stock represented by certificates and upon request every holder of uncertificated shares shall be entitled to have a certificate signed by, or in the name of the corporation by the chairman or vice-chairman of the board of directors, if any, or the president or vice-president, and by the treasurer or an assistant treasurer, or by the secretary or an assistant secretary of such corporation representing the number of shares registered in certificate form. Any or all of the signatures on the certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed upon a certificate has ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the corporation with the same effect as if he or she were such officer, transfer agent, or registrar at the time of issue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <u>Loss of Certificates</u>. In the case of the alleged theft, loss, destruction or mutilation of a certificate of stock, a duplicate certificate may be issued in place thereof, upon such terms, including receipt of a bond sufficient to indemnify the corporation against any claim on account thereof, as the board of directors may prescribe.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 <u>Dividends</u>. The Board may from time to time declare, and the corporation may pay, dividends (payable in cash, property or shares of the corporation's capital stock) on the corporation's outstanding shares of capital stock, subject to applicable law and the certificate of incorporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 <u>Reserves</u>. The Board may set apart out of the funds of the corporation available for dividends a reserve or reserves for any proper purpose and may abolish any such reserve.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 <u>Surety Bonds</u>. Such officers, employees and agents of the corporation (if any) as the chairman of the board, chief executive officer, president or the board may direct, from time to time, shall be bonded for the faithful performance of their duties and for the restoration to the corporation, in case of their death, resignation, retirement, disqualification or removal from office, of all books, papers, vouchers, money and other property of whatever kind in their possession or under their control belonging to the corporation, in such amounts and by such surety companies as the chairman of the board, chief executive officer, president or the board may determine. The premiums on such bonds shall be paid by the corporation and the bonds so furnished shall be in the custody of the secretary.

**Section 8. Transfer of Shares of Stock.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <u>Transfer on Books</u>. Subject to the restrictions, if any, stated or noted on the stock certificate, shares of stock may be transferred on the books of the corporation by the surrender to the corporation or its transfer agent of the certificate therefor properly endorsed or accompanied by a written assignment and power of attorney properly executed, with necessary transfer stamps affixed, and with such proof of the authenticity of signature as the board of directors or the transfer agent of the corporation may reasonably require. Except as may be otherwise required by law, by the certificate of incorporation or by these bylaws, the corporation shall be entitled to treat the record holder of stock as shown on its books as the owner of such stock for all purposes, including the payment of dividends and the right to receive notice and to vote or to give any consent with respect thereto and to be held liable for such calls and assessments, if any, as may lawfully be made thereon, regardless of any transfer, pledge or other disposition of such stock until the shares have been properly transferred on the books of the corporation. It shall be the duty of each stockholder to notify the corporation of their post office address.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 <u>Record Date and Closing Transfer Books</u>. In the event that the corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, the board of directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the board of directors, and which record date shall not be more than sixty (60) nor less than ten (10) days before the date of such meeting. If no such record date is fixed by the board of directors, the record date for determining the stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the board of directors may fix a new record date for the adjourned meeting. In order that the corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment of any rights or to exercise any rights in respect of any change, conversion or exchange of stock, or for the purpose of any other lawful action, the board of directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall be not more than sixty (60) days prior to such payment, exercise or other action. If no such record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of business on the day on which the board of directors adopts the resolution relating thereto.

**Section 9. Indemnification.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Right to Indemnification</u>. Each person who was or is made a party or is threatened to be made a party to or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or she is or was a director officer of the corporation or is or was serving at the request of the corporation as a director or officer of another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans (hereinafter an "**indemnitee**"), whether the basis of such proceeding is alleged action in an official capacity as a director or officer or in any other capacity while serving as a director or officer, shall be indemnified and held harmless by the corporation to the fullest extent authorized by DGCL, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the corporation to provide broader indemnification rights than such law permitted the corporation to provide prior to such amendment), against all expense, liability and loss (including attorneys' fees, judgments, fines, ERISA excise taxes or penalties and amounts paid in settlement) reasonably incurred or suffered by such indemnitee in connection therewith and such indemnification shall continue as to an indemnitee who has ceased to be a director or officer and shall inure to the benefit of the indemnitee's heirs, executors and administrators; provided, however, that, except as provided in this Section 9.1 with respect to proceedings to enforce rights to indemnification, the corporation shall indemnify any such indemnitee in connection with a proceeding (or part thereof) initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the board of directors of the corporation. The right to indemnification conferred in this Section 9.1 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 (hereinafter an "**advancement of expenses**"); provided, however, that, if DGCL requires, an advancement of expenses incurred by an indemnitee in such indemnitee's capacity as a director or officer (and not in any other capacity in which service was or is rendered by such indemnitee, including without limitation, service to an employee benefit plan) shall be made only upon delivery to the corporation of an undertaking, by or on behalf of such indemnitee, to repay all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is not further right to appeal that such indemnitee is not entitled to be indemnified for such expenses under this Section 9 or otherwise (hereinafter an "**undertaking**").

Notwithstanding the foregoing, unless otherwise determined pursuant to paragraph 9.1 of this section, no advancement of expenses shall be made by the corporation to an executive officer of the corporation (except by reason of the fact that such executive officer is or was a director of the corporation in which event this paragraph shall not apply) in any action, suit or proceeding, whether civil, criminal, administrative or investigative, if a determination is reasonably and promptly made (i) by a majority vote of directors who were not parties to the proceeding, even if not a quorum, or (ii) by a committee of such directors designated by a majority vote of such directors, even though less than a quorum, or (iii) if there are no such directors, or such directors so direct, by independent legal counsel in a written opinion, that the facts known to the decision-making party at the time such determination is made demonstrate clearly and convincingly that such person acted in bad faith or in a manner that such person did not believe to be in or not opposed to the best interests of the corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Right of Indemnitee to Bring Suit</u>. If a claim under Section 9.1 of these bylaws is not paid in full by the corporation within forty-five (45) days after a written claim has been received by the corporation, the indemnitee may at any time thereafter bring suit against the corporation to recover the unpaid amount of the claim. If successful in whole or part in any such suit or in a suit brought by the corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall be entitled to be paid also the expense of prosecuting or defending such suit. In (i) any suit brought by the indemnitee to enforce a right to indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an advancement of expenses) it shall be a defense that, and (ii) any suit by the corporation to recover an advancement of expenses pursuant to the terms of an undertaking the corporation shall be entitled to recover such expenses upon a final adjudication that, the indemnitee has not met the applicable standard of conduct set forth in DGCL. Neither the failure of the corporation (including its board of directors, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such suit that indemnification of the indemnitee is proper in the circumstances because the indemnitee has met the applicable standard of conduct set forth in DGCL, nor an actual determination by the corporation (including its board of directors, independent legal counsel, or its stockholders) that the indemnitee has not met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by indemnitee, be a defense to such suit. In any suit brought by the indemnitee to enforce a right hereunder, or by the corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving that the indemnitee is not entitled to be indemnified or to such advancement of expenses under this Section 9 or otherwise shall be on the corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <u>Non-Exclusivity of Rights</u>. The rights of indemnification and to the advancement of expenses conferred in this Section 9 shall not be exclusive of any other right which any person may have or thereafter acquire under any statue, provision of the Certificate of Incorporation, by- law agreement, vote of stockholders or disinterested directors or otherwise and shall inure to the benefit of the heirs and legal representatives of such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <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 DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 <u>Indemnification of Employees or Agents of the Corporation</u>. The corporation may, to the extent authorized from time to time by the board of directors, grant rights to indemnification and to the advancement of expenses, to any employee or agent of the corporation to the fullest extent of the provisions of this Section 9 with respect to the indemnification and advancement of expenses of directors or officers of the corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 <u>Indemnification Contracts</u>. The board of directors is authorized to enter into a contract with any director, officer, employee or agent of the corporation, or any person serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, including employee benefit plans, providing for indemnification rights equivalent to or, if the board of directors so determines, greater than, those provided for in this Section 9.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 <u>Effect of Amendment</u>. Any amendment, repeal or modification of any provision of this Section 9 by the stockholders or the directors of the corporation shall not adversely affect any right or protection of a director or officer of the corporation existing at the time of such amendment, repeal or modification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Serving at the Request of the Corporation</u>. References to "**serving at the request of the corporation**" shall include any service as a director, officer, employee or agent of the corporation which imposes duties on, or involves services by, such director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the corporation" as referred to in this section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Directors, Executive Officers, Officers, Employees, or Agents</u>. For purposes of this Section 9, references to a "**director**," "**executive officer**," "**officer**," "**employee**," or "**agent**" of the corporation shall include, without limitation, situations where such person is serving at the request of the corporation as, respectively, a director, executive officer, officer, employee, trustee or agent of another corporation, partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Expenses</u>. For purposes of this Section 9, the term "**expenses**" shall be broadly construed and shall include, without limitation, court costs, attorneys' fees, witness fees, fines, amounts paid in settlement or judgment and any other costs and expenses of any nature or kind incurred in connection with any proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Proceeding</u>. For purposes of this Section 9, the term "**proceeding**" shall be broadly construed and shall include, without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative.

**Section 10. General Provisions.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 <u>Corporate Seal</u>. Subject to alteration by the directors, the seal of the corporation shall consist of a flat-faced circular die with the word "Delaware" and the name of the corporation cut or engraved thereon, together with such other words, dates or images as may be approved from time to time by the directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 <u>Execution of Papers</u>. Except as otherwise provided by applicable law, the certificate of incorporation or these bylaws, any contract, bond, deed, lease, mortgage or other instrument may be executed and delivered in the name and on behalf of the corporation by such officer or officers or other employee or employees of the corporation as the board may from time to time authorize. Such authority may be general or confined to specific instances as the board may determine. The chairman of the board, the chief executive officer, the president, the chief financial officer, the treasurer or any vice president may execute and deliver any contract, bond, deed, lease, mortgage or other instrument in the name and on behalf of the corporation. Subject to any restrictions imposed by the board, the chairman of the board chief executive officer, president, the chief financial officer, the treasurer or any vice president may delegate powers to execute and deliver any contract, bond, deed, lease, mortgage or other instrument in the name and on behalf of the corporation to other officers or employees of the corporation under such person's supervision and authority, it being understood, however, that any such delegation of power shall not relieve such officer of responsibility with respect to the exercise of such delegated power.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 <u>Fiscal Year</u>. The fiscal year of the corporation shall be fixed by resolution of the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 <u>Electronic Transmission</u>. For purposes of these bylaws, "**electronic transmission**" shall mean a form of communication not directly involving the physical transmission of paper that satisfies the requirements with respect to such communications contained in DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 <u>Amendments</u>. These bylaws may be adopted, amended or repealed by vote of a majority of the directors then in office or by vote of a majority of the stock outstanding and entitled to vote. Any by-law, whether adopted, amended or repealed by the stockholders or directors, may be amended or reinstated by the stockholders or the directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6 <u>Books and Records</u>. The books and records of the corporation may be kept within or outside the State of Delaware at such place or places as may from time to time be designated by the Board.

## Exhibit 4.1

**Exhibit 4.1**

![](ex4-1_001.jpg)

![](ex4-1_002.jpg)

## Exhibit 4.2

**Exhibit 4.2**

**<u>WARRANT AGENCY AGREEMENT</u>**

**WARRANT AGENCY AGREEMENT**, dated as of [●] [●], 2023 (*"<u>Agreement</u>"*) between T1V, Inc., a Delaware corporation (the *"<u>Company</u>"*), and Vstock Transfer, LLC (the *"<u>Warrant Agent</u>"*).

**WHEREAS**, pursuant to the terms of that certain Underwriting Agreement (*"<u>Underwriting Agreement</u>"*), dated [●], 2023, by and among the Company and EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters set forth therein (the *"<u>Representative</u>"*), the Company is engaged in a public offering (the *"<u>Offering</u>"*) of up to 3,203,884 units (each a *"<u>Unit</u>"*) with each Unit consisting of one share (collectively, the *"<u>Shares</u>"*) of Class A Common Stock of the Company, par value $0.001 per share (the *"<u>Class A Common Stock</u>"*), and a warrant (collectively, the *"<u>Warrants</u>"*) to purchase one share of Class A Common Stock (collectively, the *"<u>Warrant Shares</u>"*) at an exercise price of $[●] per share, including Shares and Warrants issuable pursuant to the underwriters' over-allotment option;

**WHEREAS**, upon the terms and subject to the conditions hereinafter set forth and pursuant to an effective registration statement on Form S-1, as amended (File No. 333-[●]) (the *"<u>Registration Statement</u>"*), and the terms and conditions of the Warrant Certificates, the Company wishes to issue the Warrants in book entry form to the respective holders of the Warrants (the *"<u>Holders,</u>"* which term shall include a Holder's transferees, successors and assigns and *"<u>Holder</u>"* shall include, if the Warrants are held in "street name," a Participant (as defined below) or a designee appointed by such Participant); and

**WHEREAS**, the Shares and Warrants to be issued in connection with the Offering shall be immediately separable and will be issued separately, but will be purchased together in the Offering; and

**WHEREAS**, the Company wishes the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection with the issuance, registration, transfer, exchange, exercise and replacement of the Warrants and, in the Warrant Agent's capacity as the Company's transfer agent, the delivery of the Warrant Shares.

**NOW, THEREFORE**, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

**<u>Section 1</u>.** <u>Certain Definitions</u>. For purposes of this Agreement, all capitalized terms not herein defined shall have the meanings hereby indicated:

&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>Affiliate</u>"* has the meaning ascribed to it in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the *"<u>Exchange Act</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>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 generally are open for use by customers on such day.

&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>Close of Business</u>"* on any given date means 5:00 p.m., New York City time, on such date; provided, however, that if such date is not a Business Day it means 5:00 p.m., New York City time, on the next succeeding Business Day.

&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>Person</u>"* means an individual, corporation, association, partnership, limited liability company, joint venture, trust, unincorporated organization, government or political subdivision thereof or governmental agency or other entity.

&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>Warrant Certificate</u>"* means a certificate in substantially the form attached as Exhibit A hereto, representing such number of Warrant Shares as is indicated therein, provided that any reference to the delivery of a Warrant Certificate in this Agreement shall include delivery of a Definitive Certificate or a Global Warrant (each as defined below).

All other capitalized terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Warrant Certificate.

**<u>Section 2</u>.** <u>Appointment of Warrant Agent</u>. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the terms and conditions hereof, and the Warrant Agent hereby accepts such appointment.

**<u>Section 3</u>.** <u>Global 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;(a) The Warrants shall be registered securities and shall be evidenced by a global warrant (the *"<u>Global Warrants</u>"*), in the form of the Warrant Certificate, which shall be deposited with the Warrant Agent and registered in the name of Cede & Co., a nominee of The Depository Trust Company (the *"<u>Depositary</u>"*), or as otherwise directed by the Depositary. Ownership of beneficial interests in the Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each Global Warrant or (ii) institutions that have accounts with the Depositary (such institution, with respect to a Warrant in its account, a *"<u>Participant</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) If the Depositary subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the Warrant Agent regarding other arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have the Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each Global Warrant, and the Company shall instruct the Warrant Agent to deliver to each Holder a Warrant 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;(c) A Holder has the right to elect at any time or from time to time a Warrant Exchange (as defined below) pursuant to a Warrant Certificate Request Notice (as defined below). Upon written notice by a Holder to the Company and the Warrant Agent for the exchange of some or all of such Holder's Global Warrants for a separate certificate in the form attached hereto as Exhibit A (such separate certificate, a *"<u>Definitive Certificate</u>"*) evidencing the same number of Warrants, which request shall be in the form attached hereto as Exhibit B (a *"<u>Warrant Certificate Request Notice</u>"* and the date of delivery of such Warrant Certificate Request Notice by the Holder, the *"<u>Warrant Certificate Request Notice Date</u>"* and the surrender by the Holder to the Warrant Agent of a number of Global Warrants for the same number of Warrants evidenced by a Warrant Certificate, a *"<u>Warrant Exchange</u>"*), the Company and the Warrant Agent shall promptly effect the Warrant Exchange and the Company shall promptly issue and deliver to the Holder a Definitive Certificate for such number of Warrants in the name set forth in the Warrant Certificate Request Notice. Such Definitive Certificate shall be dated the original issue date of the Warrants, shall be executed either manually or by facsimile signature by an authorized signatory of the Company, shall be in the form attached hereto as Exhibit A and shall be reasonably acceptable in all respects to such Holder. In connection with a Warrant Exchange, the Company agrees to deliver the Definitive Certificate to the Holder within ten (10) Business Days of the Warrant Certificate Request Notice pursuant to the delivery instructions in the Warrant Certificate Request Notice (*"<u>Warrant Certificate Delivery Date</u>"*). If the Company fails for any reason to deliver to the Holder the Definitive Certificate subject to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Definitive Certificate (based on the VWAP (as defined in the Warrants) of the Shares on the Warrant Certificate Request Notice Date), $10 per Business Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Business Day after such Warrant Certificate Delivery Date until such Definitive Certificate is delivered or, prior to delivery of such Warrant Certificate, the Holder rescinds such Warrant Exchange. The Company covenants and agrees that, upon the date of delivery of the Warrant Certificate Request Notice, the Holder shall be deemed to be the holder of the Definitive Certificate and, notwithstanding anything to the contrary set forth herein, the Definitive Certificate shall be deemed for all purposes to contain all of the terms and conditions of the Warrants evidenced by such Warrant Certificate and the terms of this Agreement, other than ***Section 3(c)***, ***Section 3(d)***, and ***Section 9*** herein, shall not apply to the Warrants evidenced by the Definitive Certificate. Notwithstanding anything herein to the contrary, the Company shall act as warrant agent with respect to any Definitive Certificate requested and issued pursuant to this ***Section 3(c)***. Notwithstanding anything to the contrary contained in this Agreement, in the event of inconsistency between any provision in this Agreement and any provision in a Definitive Certificate, as it may from time to time be amended, the terms of such Definitive Certificate shall control.

&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 Holder of a Definitive Certificate (pursuant to a Warrant Exchange or otherwise) has the right to elect at any time or from time to time a Global Warrants Exchange (as defined below) pursuant to a Global Warrants Request Notice (as defined below). Upon written notice by a Holder to the Company for the exchange of some or all of such Holder's Warrants evidenced by a Definitive Certificate for a beneficial interest in Global Warrants held in book-entry form through the Depositary evidencing the same number of Warrants, which request shall be in the form attached hereto as Exhibit C (a *"<u>Global Warrants Request Notice</u>"* and the date of delivery of such Global Warrants Request Notice by the Holder, the *"<u>Global Warrants Request Notice Date</u>"* and the surrender upon delivery by the Holder of the Warrants evidenced by Definitive Certificates for the same number of Warrants evidenced by a beneficial interest in Global Warrants held in book-entry form through the Depositary, a *"<u>Global Warrants Exchange</u>"*), the Company shall promptly effect the Global Warrants Exchange and shall promptly direct the Warrant Agent to issue and deliver to the Holder Global Warrants for such number of Warrants in the Global Warrants Request Notice, which beneficial interest in such Global Warrants shall be delivered by the Depositary's Deposit and Withdrawal at Custodian (*"<u>DWAC</u>"*) system to the Holder pursuant to the instructions in the Global Warrants Request Notice. In connection with a Global Warrants Exchange, the Company shall direct the Warrant Agent to deliver the beneficial interest in such Global Warrants to the Holder within ten (10) Business Days of the Global Warrants Request Notice pursuant to the delivery instructions in the Global Warrants Request Notice (*"<u>Global Warrants Delivery Date</u>"*). If the Company fails for any reason to deliver to the Holder Global Warrants subject to the Global Warrants Request Notice by the Global Warrants Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Global Warrants (based on the VWAP (as defined in the Warrants) of the Shares on the Global Warrants Request Notice Date), $10 per Business Day (increasing to $20 per Business Day on the fifth Business Day after such liquidated damages begin to accrue) for each Business Day after such Global Warrants Delivery Date until such Global Warrants are delivered or, prior to delivery of such Global Warrants, the Holder rescinds such Global Warrants Exchange. The Company covenants and agrees that, upon the date of delivery of the Global Warrants Request Notice, the Holder shall be deemed to be the beneficial holder of such Global Warrants.

**<u>Section 4</u>.** <u>Form of Warrant Certificates</u>. The Warrant Certificate, together with the form of election to purchase Warrant Shares (*"<u>Notice of Exercise</u>"*) and the form of assignment to be printed on the reverse thereof, shall be in the form of Exhibit A hereto.

**<u>Section 5</u>.** <u>Registration</u>. The Warrant Agent will keep or cause to be kept at one of its offices, or at the office of one of its agents, books (*"<u>Warrant Register</u>"*) for registration and transfer of the Global Warrants issued hereunder. The Company will keep or cause to be kept at one of its offices, books for the registration and transfer of any Definitive Certificates issued hereunder and the Warrant Agent shall not have any obligation to keep books and records with respect to any Definitive Certificates. Such Company books shall show the names and addresses of the respective Holders of the Definitive Certificates, the number of warrants evidenced on the face of each such Definitive Certificate and the date of each such Definitive Certificate.

**<u>Section 6</u>.** <u>Transfer, Split Up, Combination and Exchange of Warrant Certificates; Mutilated, Destroyed, Lost or Stolen Warrant Certificates</u>. With respect to the Definitive Certificates, subject to the provisions of the Warrant Certificate and the last sentence of this first paragraph of ***Section 6*** and subject to applicable law, rules or regulations, or any *"<u>stop transfer</u>"* instructions applicable to the Definitive Certificates, at any time after the closing date of the Offering, and at or prior to the Close of Business on the Termination Date (as such term is defined in the Warrant Certificate), any Definitive Certificate may be transferred, split up, combined or exchanged for another Definitive Certificate or Definitive Certificates, entitling the Holder to purchase a like number of Shares as the Definitive Certificate surrendered then entitled such Holder to purchase. Any Holder desiring to transfer, split up, combine or exchange any Definitive Certificate shall make such request in writing delivered to the Company, and shall surrender the Definitive Certificate to be transferred, split up, combined or exchanged at the principal office of the Company. Any requested transfer of Warrants, whether in book-entry form or certificate form, shall be accompanied by reasonable evidence of authority of the party making such request that may be required by the Company. Thereupon the Company shall, subject to the last sentence of this first paragraph of ***Section 6***, countersign and deliver to the Person entitled thereto a Definitive Certificate or Definitive Certificates, as the case may be, as so requested. The Company may require payment from the Holder of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split up, combination or exchange of Definitive Certificates.

Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of a Warrant Certificate, which evidence shall include an affidavit of loss, or in the case of mutilated certificates, the certificate or portion thereof remaining, and, in case of loss, theft or destruction, of indemnity in customary form and amount (but, with respect to any Definitive Certificates, shall not include the posting of any bond by the Holder), and reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender to the Company and cancellation of the Warrant Certificate if mutilated, the Company will make and deliver a new Warrant Certificate of like tenor to the Holder in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated.

**<u>Section 7</u>.** <u>Exercise of Warrants; Exercise Price; Termination Date</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) The Warrants shall be exercisable commencing on the Initial Exercise Date (as defined in the Warrant Certificate). The Warrants shall cease to be exercisable and shall terminate and become void as set forth in the Warrant Certificate. Subject to the foregoing and to ***Section 7(b)*** below, the Holder of a Warrant may exercise the Warrant in whole or in part upon surrender of the Warrant Certificate, if required, with the executed Notice of Exercise and payment of the Exercise Price (as defined in the Warrant Certificate), which may be made, at the option of the Holder, by wire transfer or by certified or official bank check in United States dollars, to the Company at the principal office of the Company. In the case of the Holder of a Global Warrant, the Holder shall deliver the executed Notice of Exercise and the payment of the Exercise Price as described herein. Notwithstanding any other provision in this Agreement, a holder whose interest in a Global Warrant is a beneficial interest in a Global Warrant held in book-entry form through the Depositary (or another established clearing corporation performing similar functions), shall effect exercises by delivering to the Depositary (or such other clearing corporation, as applicable) the appropriate instruction form for exercise, complying with the procedures to effect exercise that are required by the Depositary (or such other clearing corporation, as applicable). No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. The Company hereby acknowledges and agrees that, with respect to a holder whose interest in a Global Warrant is a beneficial interest in a Global Warrant held in book-entry form through the Depositary (or another established clearing corporation performing similar functions), upon delivery of irrevocable instructions to such holder's Participant to exercise such warrants, that solely for purposes of Regulation SHO under the Exchange Act that such holder shall be deemed to have exercised such warrants.

&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) Upon receipt of a Notice of Exercise for a Cashless Exercise provided by a holder to the Depositary and/or the Company, as applicable (as provided in ***Section 7(a) above***), the Company will promptly calculate and transmit to the Warrant Agent the number of Warrant Shares issuable in connection with such Cashless Exercise and deliver a copy of the Notice of Exercise to the Warrant Agent, which shall cause to be delivered in accordance with the provisions of ***Section 7(c)*** such number of Warrant Shares in connection with such Cashless 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;(c) Upon the exercise of the Warrant Certificate pursuant to the terms of ***Section 2*** of the Warrant Certificate, (i) in the event of a Global Warrant, the Warrant Agent shall cause the Transfer Agent (as such term is defined in the Warrant Certificate) to deliver the Warrant Shares underlying such Definitive Global Warrant to or upon the order of the Holder of such Global Warrant, registered in such name or names as may be designated by such Holder or (ii) in the event of a Definitive Certificate, the Company shall cause the Transfer Agent to deliver the Warrant Shares underlying such Definitive Global Warrant to or upon the order of the Holder of such Definitive Certificate, registered in such name or names as may be designated by such Holder, in each case no later than the Warrant Share Delivery Date (as such term is defined in the Warrant Certificate). If the Company is then a participant in the DWAC system of the Depositary and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) the Warrant is being exercised via Cashless Exercise, then the certificates for Warrant Shares shall be transmitted by the Warrant Agent to the Holder by crediting the account of the Holder's broker with the Depositary through its DWAC system. For the avoidance of doubt, if the Company becomes obligated to pay any amounts to any Holders pursuant to ***Section 2(d)(i)*** or ***Section 2(d)(iv)*** of the Warrant Certificate, such obligation shall be solely that of the Company and not that of the Warrant Agent. Notwithstanding anything else to the contrary in this Agreement, except in the case of a Cashless Exercise, if any Holder fails to duly deliver payment to the Company of an amount equal to the aggregate Exercise Price of the Warrant Shares to be purchased upon exercise of such Holder's Warrant as set forth in ***Section 7(a)*** hereof by the Warrant Share Delivery Date, the Warrant Agent will not be obligated to deliver such Warrant Shares (via DWAC or otherwise) until following receipt by the Company of such payment, and the applicable Warrant Share Delivery Date shall be deemed extended by one day for each day (or part thereof) until such payment is delivered to the Company.

**<u>Section 8</u>.** <u>Cancellation and Destruction of Warrant Certificates</u>. All Warrant Certificates surrendered for the purpose of exercise, transfer, split up, combination or exchange shall be (i) if a Global Warrant, surrendered to the Warrant Agent or (ii) if a Definitive Certificate, surrendered to the Company or to any of its agents for cancellation or in canceled form.

**<u>Section 9</u>.** <u>Certain Representations; Reservation and Availability of Shares or Cash</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) This Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery hereof by the Warrant Agent, constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, and the Warrants have been duly authorized, executed and issued by the Company and, assuming due authentication thereof by the Warrant Agent pursuant hereto and payment therefor by the Holders as provided in the Warrant Certificate, constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms and entitled to the benefits hereof; in each case except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors' rights generally or by general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law).

&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 of the date hereof, the authorized share capital of the Company consists 170,000,000 shares, consisting of 150,000,000 shares of Class A Common Stock, par value $0.001 per share, of which [●] are issued and outstanding; (ii) 10,000,000 shares of Class B Common Stock, par value $0.001 per share (the *"<u>Class B Common Stock,</u>"* and together with the Class A Common Stock, the *"<u>Class A Common Stock</u>"*), of which [●] are issued and outstanding; and (iii) 10,000,000 shares of *"<u>blank check</u>"* preferred stock, par value $0.001 per share, none of which are outstanding. Except as disclosed in the Registration Statement, there are no other outstanding obligations, warrants, options or other rights to subscribe for or purchase from the Company any 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;(c) The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Class A Common Stock or its authorized and issued shares of Class A Common Stock held in its treasury, free from preemptive rights, the number of Warrant Shares that will be sufficient to permit the exercise in full of all outstanding Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company further covenants and agrees that it will pay when due and payable any and all federal and state transfer taxes and charges which may be payable in respect of the original issuance or delivery of the Warrant Certificates or certificates evidencing Warrant Shares upon exercise of the Warrants. The Company shall not, however, be required to pay any tax or governmental charge which may be payable in respect of any transfer involved in the transfer or delivery of Warrant Certificates or the issuance or delivery of certificates for Warrant Shares in a name other than that of the Holder of the Warrant Certificate evidencing Warrants surrendered for exercise or to issue or deliver any certificate for Warrant Shares upon the exercise of any Warrants until any such tax or governmental charge shall have been paid (any such tax or governmental charge being payable by the Holder of such Warrant Certificate at the time of surrender) or until it has been established to the Company's reasonable satisfaction that no such tax or governmental charge is 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;(e) <u>Warrant Shares Record Date</u>. Each Person in whose name any certificate for Warrant Shares is issued (or to whose broker's account is credited Warrant Shares through the DWAC system) upon the exercise of Warrants shall for all purposes be deemed to have become the holder of record for the Warrant Shares represented thereby on, and such certificate shall be dated, the date on which submission of the Notice of Exercise was made, provided that the Warrant Certificate evidencing such Warrant is duly surrendered (but only if required herein) and payment of the Exercise Price (and any applicable transfer taxes) is received on or prior to the Warrant Share Delivery Date; provided, however, that if the date of submission of the Notice of Exercise is a date upon which the Class A Common Stock transfer books of the Company are closed, such Person shall be deemed to have become the record holder of such shares on, and such certificate shall be dated, the next succeeding day on which the Class A Common Stock transfer books of the Company are open.

&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>Adjustment of Exercise Price, Number of Warrant Shares or Number of the Company Warrants</u>. The Exercise Price, the number of Warrant Shares covered by each Warrant and the number of Warrants outstanding are subject to adjustment from time to time as provided in ***Section 3*** of the Warrant Certificate. In the event that at any time, as a result of an adjustment made pursuant to ***Section 3*** of the Warrant Certificate, the Holder of any Warrant thereafter exercised shall become entitled to receive any shares of capital stock of the Company other than Warrant Shares, thereafter the number of such other shares so receivable upon exercise of any Warrant shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares contained in ***Section 3*** of the Warrant Certificate and the provisions of ***Section 7***, ***Section 11***, and ***Section 12*** of this Agreement with respect to the Warrant Shares shall apply on like terms to any such other shares. All Warrants originally issued by the Company subsequent to any adjustment made to the Exercise Price pursuant to the Warrant Certificate shall evidence the right to purchase, at the adjusted Exercise Price, the number of Warrant Shares purchasable from time to time hereunder upon exercise of the Warrants, all subject to further adjustment as 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;(g) <u>Certification of Adjusted Exercise Price or Number of Warrant Shares</u>. Whenever the Exercise Price or the number of Warrant Shares issuable upon the exercise of each Warrant is adjusted as provided in ***Section 3(a)*** or ***Section 3(b)*** of the Warrant Certificate, the Company shall (a) promptly prepare a certificate setting forth the Exercise Price of each Warrant as so adjusted, and a brief statement of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent for the Class A Common Stock a copy of such certificate and (c) instruct the Warrant Agent to send a brief summary thereof to each Holder of a Warrant Certificate.

**<u>Section 10</u>.** Fractional Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall not issue fractions of Warrants or distribute Warrant Certificates which evidence fractional Warrants. Whenever any fractional Warrant would otherwise be required to be issued or distributed, the actual issuance or distribution shall reflect a rounding of such fraction to the nearest whole Warrant (rounded down).

&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 Company shall not issue fractions of Warrant Shares upon exercise of Warrants or distribute stock certificates which evidence fractional Warrant Shares. Whenever any fraction of Warrant Shares would otherwise be required to be issued or distributed, the actual issuance or distribution in respect thereof shall be made in accordance with ***Section 2(d)(v)*** of the Warrant Certificate.

**<u>Section 11</u>.** <u>Conditions of the Warrant Agent's Obligations</u>. The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the Holders from time to time of the Warrant Certificates shall be subject:

&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) *Compensation and Indemnification.* The Company agrees promptly to pay the Warrant Agent the compensation detailed on Exhibit D hereto for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees) incurred without gross negligence or willful misconduct finally adjudicated to have been directly caused by the Warrant Agent in connection with the services rendered hereunder by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability or expense incurred without gross negligence, or willful misconduct on the part of the Warrant Agent, finally adjudicated to have been directly caused by Warrant Agent hereunder, including the reasonable costs and expenses of defending against any claim of such liability. The Warrant Agent shall be under no obligation to institute or defend any action, suit, or legal proceeding in connection herewith or to take any other action likely to involve the Warrant Agent in expense, unless first indemnified to the Warrant Agent's satisfaction. The indemnities provided by this paragraph shall survive the resignation or discharge of the Warrant Agent or the termination of this Agreement. Anything in this Agreement to the contrary notwithstanding, in no event shall the Warrant Agent be liable under or in connection with the Agreement for indirect, special, incidental, punitive or consequential losses or damages of any kind whatsoever, including, but not limited, to lost profits, whether or not foreseeable, even if the Warrant Agent has been advised of the possibility thereof and regardless of the form of action in which such damages are sought, and the Warrant Agent's aggregate liability to the Company, or any of the Company's representatives or agents, under this ***Section 11(a)*** or under any other term or provision of this Agreement, whether in contract, tort, or otherwise, is expressly limited to, and shall not exceed in any circumstances, one (1) year's fees received by the Warrant Agent as fees and charges under this Agreement, but not including reimbursable expenses previously reimbursed to the Warrant Agent by the Company 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;(b) *Agent for the Company.* In acting under this Warrant Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligations or relationship of agency or trust for or with any of the Holders of Warrant Certificates or beneficial owners of Warrants.

&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) *Counsel.* The Warrant Agent may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in accordance with the advice 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;(d) *Documents.* The Warrant Agent shall be protected and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper parties.

&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) *Certain Transactions.* The Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable law, it or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee or agent for, any committee or body of Holders of the Warrants or other obligations of the Company as freely as if it were not the Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as trustee under any indenture to which the Company is a 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;(f) *No Liability for Interest.* Unless otherwise agreed with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.

&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) *No Liability for Invalidity.* The Warrant Agent shall have no liability with respect to any invalidity of this Agreement or the Warrant Certificates (except as to the Warrant Agent's countersignature thereon).

&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) *No Responsibility for Representations.* The Warrant Agent shall not be responsible for any of the recitals or representations herein or in the Warrant Certificate (except as to the Warrant Agent's countersignature thereon), all of which are made solely 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;(i) *No Implied Obligations.* The Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrant Certificates specifically set forth and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability, the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds of the Warrant Certificate. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Holder of a Warrant Certificate with respect to such default, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law.

In case at any time the name of the Warrant Agent shall be changed and at such time any of the Warrant Certificates shall have been countersigned but not delivered, the Warrant Agent may adopt the countersignature under its prior name and deliver such Warrant Certificates so countersigned; and in case at that time any of the Warrant Certificates shall not have been countersigned, the Warrant Agent may countersign such Warrant Certificates either in its prior name or in its changed name; and in all such cases such Warrant Certificates shall have the full force provided in the Warrant Certificates and in this Agreement.

**<u>Section 13</u>.** <u>Duties of Warrant Agent</u>. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following terms and conditions, by all of which the Company, by its acceptance hereof, shall be bound:

&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 Warrant Agent may consult with legal counsel reasonably acceptable to the Company (who may be legal counsel for the Company), and the opinion of such counsel shall be full and complete authorization and protection to the Warrant Agent as to any action taken or omitted by it in good faith and in accordance with such opinion.

&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) Whenever in the performance of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by the Chief Executive Officer or Chief Financial Officer of the Company; and such certificate shall be full authentication to the Warrant Agent for any action taken or suffered in good faith by it under the provisions of this Agreement in reliance upon 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;(c) Subject to the limitation set forth in ***Section 14***, the Warrant Agent shall be liable hereunder only for its own gross negligence or willful misconduct, or for any intentional breach by it 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;(d) The Warrant Agent shall not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in the Warrant Certificate (except its countersignature thereof) by the Company or be required to verify the same, but all such statements and recitals are and shall be deemed to have been made by the Company only.

&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) The Warrant Agent shall not be under any responsibility in respect of the validity of this Agreement or the execution and delivery hereof (except the due execution hereof by the Warrant Agent) or in respect of the validity or execution of any Warrant Certificate (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant Certificate; nor shall it be responsible for the adjustment of the Exercise Price or the making of any change in the number of Warrant Shares required under the provisions of ***Section 11*** or ***Section 13*** or responsible for the manner, method or amount of any such change or the ascertaining of the existence of facts that would require any such adjustment or change (except with respect to the exercise of Warrants evidenced by the Warrant Certificates after actual notice of any adjustment of the Exercise Price); nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Warrant Shares to be issued pursuant to this Agreement or any Warrant Certificate or as to whether any Warrant Shares will, when issued, be duly authorized, validly issued, fully paid and nonassessable.

&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) Each party hereto agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further and other acts, instruments and assurances as may reasonably be required by the other party hereto for the carrying out or performing by any party 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;(g) The Warrant Agent is hereby authorized to accept instructions with respect to the performance of its duties hereunder from the Chief Executive Officer or Chief Financial Officer of the Company, and to apply to such officers for advice or instructions in connection with its duties, and it shall not be liable and shall be indemnified and held harmless for any action taken or suffered to be taken by it in good faith in accordance with instructions of any such officer, provided Warrant Agent carries out such instructions without gross negligence or willful misconduct.

&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) The Warrant Agent and any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money to the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other legal entity.

&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 Warrant Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through its attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such attorney or agents or for any loss to the Company resulting from any such act, default, neglect or misconduct, provided reasonable care was exercised in the selection and continued employment thereof.

**<u>Section 14</u>.** <u>Change of Warrant Agent</u>. The Warrant Agent, or any successor to it hereafter appointed, may resign and be discharged from its duties under this Agreement upon 30 days' notice in writing sent to the Company or such shorter period of time agreed to by the Company. The Company may remove the Warrant Agent or any successor Warrant Agent upon 30 days' notice in writing, sent to the Warrant Agent or successor Warrant Agent, as the case may be, or such shorter period of time as agreed. If the office of the Warrant Agent becomes vacant by resignation, termination or incapacity to act or otherwise, the Company shall appoint a successor to the Warrant Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation or incapacity by the Warrant Agent, then the Warrant Agent or any Holder of any Warrant Certificate may apply to any court of competent jurisdiction for the appointment of a new Warrant Agent, provided that, for purposes of this Agreement, the Company shall be deemed to be the Warrant Agent until a new warrant agent is appointed. Any successor Warrant Agent (but not including the initial Warrant Agent), whether appointed by the Company or by such a court, shall be a corporation organized and doing business under the laws of the United States or of a state thereof, in good standing, which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federal or state authority. After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed, and except for executing and delivering documents as provided in the sentence that follows, the predecessor Warrant Agent shall have no further duties, obligations, responsibilities or liabilities hereunder, but shall be entitled to all rights that survive the termination of this Warrant Agreement and the resignation or removal of the Warrant Agent, including, but not limited to, its right to indemnity hereunder. If for any reason it becomes necessary or appropriate or at the request of the Company, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

**<u>Section 15</u>.** <u>Issuance of New Warrant Certificates</u>. Notwithstanding any of the provisions of this Agreement or of the Warrants to the contrary, the Company may, at its option, issue new Warrant Certificates evidencing Warrants in such form as may be approved by its Board of Directors to reflect any adjustment or change in the Exercise Price per share and the number or kind or class of shares or other securities or property purchasable under the several Warrant Certificates made in accordance with the provisions of this Agreement.

**<u>Section 16</u>.** <u>Notices</u>. Notices or demands authorized by this Agreement to be given or made (i) by the Warrant Agent or by the Holder of any Warrant Certificate to or on the Company, (ii) subject to the provisions of ***Section 17***, by the Company or by the Holder of any Warrant Certificate to or on the Warrant Agent or (iii) by the Company or the Warrant Agent to the Holder of any Warrant Certificate shall be deemed given (a) on the date delivered, if delivered personally, (b) on the first Business Day following the deposit thereof with Federal Express or another recognized overnight courier, if sent by Federal Express or another recognized overnight courier, (c) on the fourth Business Day following the mailing thereof with postage prepaid, if mailed by registered or certified mail (return receipt requested), and (d) the date of transmission, if such notice or communication is delivered via facsimile or email attachment at or prior to 5:30 p.m. (New York City time) on a Business Day and (e) the next Business Day after the date of transmission, if such notice or communication is delivered via facsimile or email attachment on a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business Day, in each case to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):

&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) If to the Company, to

T1V, Inc.<br> 5025 West WT Harris Boulevard, Suite A<br> Charlotte, NC 28269<br> Attn: Michael Feldman, President and Chief Executive Officer<br> Email: mfeldman@t1v.com

 

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

 

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas

New York, New York 10105

Attn: Richard Anslow, Esq.

Email: ranslow@egsllp.com

&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) If to the Warrant Agent, to

Vstock Transfer, LLC<br> 18 Lafayette Place

Woodmere, NY 11598

Attention: Relationship Management

Email: info@vstocktransfer.com

For any notice delivered by email to be deemed given or made, such notice must be followed by notice sent by overnight courier service to be delivered on the next Business Day following such email, unless the recipient of such email has acknowledged via return email receipt of such 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;(c) If to the Holder of any Warrant Certificate to the address of such Holder as shown on the registry books of the Company. Any notice required to be delivered by the Company to the Holder of any Warrant may be given by the Warrant Agent on behalf of the Company. Notwithstanding any other provision of this Agreement, where this Agreement provides for notice of any event to a Holder of any Warrant, such notice shall be sufficiently given if given to the Depositary (or its designee) pursuant to the procedures of the Depositary or its designee.

**<u>Section 17</u>.** <u>Supplements and Amendments</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) The Company and the Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Holders of Global Warrants in order to add to the covenants and agreements of the Company for the benefit of the Holders of the Global Warrants or to surrender any rights or power reserved to or conferred upon the Company in this Agreement, provided that such addition or surrender shall not adversely affect the interests of the Holders of the Global Warrants or Warrant Certificates in any material respect.

&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) In addition to the foregoing, with the consent of Holders of Warrants entitled, upon exercise thereof, to receive not less than a majority of the Warrant Shares issuable thereunder, the Company and the Warrant Agent may modify this Agreement for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Warrant Agreement or modifying in any manner the rights of the Holders of the Global Warrants; provided, however, that no modification of the terms (including but not limited to the adjustments described in ***Section 11 above***) upon which the Warrants are exercisable or the rights of holders of Warrants to receive liquidated damages or other payments in cash from the Company or reducing the percentage required for consent to modification of this Agreement may be made without the consent of the Holder of each outstanding Warrant Certificate affected thereby; provided further, however, that no amendment hereunder shall affect any terms of any Warrant Certificate issued in a Warrant Exchange. As a condition precedent to the Warrant Agent's execution of any amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized officer of the Company that states that the proposed amendment complies with the terms of this ***Section 17***.

**<u>Section 18</u>.** <u>Successors</u>. All covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective successors and assigns hereunder.

**<u>Section 19</u>.** <u>Benefits of this Agreement</u>. Nothing in this Agreement shall be construed to give any Person other than the Company, the Holders of Warrant Certificates and the Warrant Agent any legal or equitable right, remedy or claim under this Agreement. This Agreement shall be for the sole and exclusive benefit of the Company, the Warrant Agent and the Holders of the Warrant Certificates.

**<u>Section 20</u>.** <u>Governing Law</u>. This Agreement and each Warrant Certificate and Global Warrant issued hereunder shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to the conflicts of law principles thereof.

**<u>Section 21</u>.** <u>Counterparts</u>. This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

**<u>Section 22</u>.** <u>Captions</u>. The captions of the Sections of this Agreement have been inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof.

**<u>Section 23</u>.** <u>Information</u>. The Company agrees to promptly provide to the Holders of the Warrants any information it provides to the holders of the Class A Common Stock, except to the extent any such information is publicly available on the EDGAR system (or any successor thereof) of the Securities and Exchange Commission.

*[Signature page follows]*

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

---

| | |
|:---|:---|
| **T1V, INC.** | **T1V, INC.** |
| By: |  |
| Name: | Michael Feldman |
| Title: | President and Chief Executive Officer |
| **VSTOCK TRANSFER, LLC** | **VSTOCK TRANSFER, LLC** |
| By: |  |
| Name: |  |
| Title: |  |

---

**<u>EXHIBIT A</u>**

**<u>Warrant Certificate</u>**

**CLASS A COMMON STOCK PURCHASE WARRANT**

**T1V, INC.**

Warrant Shares: [_______] Initial Exercise Date: [_______], 2023

THIS CLASS A COMMON STOCK PURCHASE WARRANT (the *"<u>Warrant</u>"*) certifies that, for value received, _____________ or its assigns (the *"<u>Holder</u>"*) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the *"<u>Initial Exercise Date</u>"*) and on or prior to 5:00 p.m. (New York City time) on [_____]<sup>1</sup> (the *"<u>Termination Date</u>"*) but not thereafter, to subscribe for and purchase from T1V, Inc., a Delaware corporation (the *"<u>Company</u>"*), up to ______ shares (as subject to adjustment hereunder, the *"<u>Warrant Shares</u>"*) of Class A common stock, par value $0.001 per share (the *"<u>Class A Common Stock</u>"*), of the Company. The purchase price of one Warrant Share under this Warrant shall be equal to the Exercise Price, as defined in ***Section 2(b)***. This Warrant shall initially be issued and maintained in the form of a security held in book-entry form and the Depository Trust Company or its nominee (*"<u>DTC</u>"*) shall initially be the sole registered holder of this Warrant, subject to a Holder's right to elect to receive a Warrant in certificated form pursuant to the terms of the Warrant Agency Agreement, in which case this sentence shall not apply.

**<u>Section 1</u>.** <u>Definitions</u>. In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this ***Section 1***:

*"<u>Affiliate</u>"* 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.

*"<u>Bid Price</u>"* means, for any date, the price determined by the first of the following clauses that applies: (a) if the Class A Common Stock is then listed or quoted on a Trading Market, the bid price of the Class A Common Stock for the time in question (or the nearest preceding date) on the Trading Market on which the Class A Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Class A Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Class A Common Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share so reported, or (d) in all other cases, the fair market value of a share of Class A Common Stock as determined by an independent appraiser selected in good faith by the Holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

*"<u>Board of Directors</u>"* means the board of directors of the Company.

*"<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 *"<u>stay at home</u>"*, *"<u>shelter-in-place</u>"*, *"<u>non-essential employee</u>"* 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 generally are open for use by customers on such day.

<sup>1</sup> Insert the date that is the five (5) year anniversary of the Initial Exercise Date, provided that, if such date is not a Trading Day, insert the immediately following Trading Day.

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

*"<u>Commission</u>"* means the United States Securities and Exchange Commission.

*"<u>Exchange Act</u>"* means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

*"<u>Exempt Issuance</u>"* means the issuance of (i) shares of Class A Common Stock or options to employees, officers or directors of the Company or consultants to the Company pursuant to any stock or option plan or other written agreement duly adopted for such purpose, by a majority of the non-employee members of the Board of Directors or a majority of the members of a committee of non-employee directors established for such purpose for services rendered to the Company, provided, however, such issuance (A) shall not exceed fifteen percent (15%) of the Class A Common Stock issued and outstanding as of the date hereof, (B) shall be at no less than fair market value (as measured by the closing price of the Class A Common Stock on the Trading Market on the date of issuance) and (C) in the first year from the date hereof shall be issued as restricted securities; (ii) securities upon the exercise or exchange of or conversion of any securities exercisable or exchangeable for or convertible into Class A Common Stock issued and outstanding on the date of this Agreement, provided that such securities have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities (other than in connection with stock splits or combinations) or to extend the term of such securities; (iii) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company or securities issued in financing transactions, the primary purpose of which is to finance acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, provided that such securities are issued as *"<u>restricted securities</u>"* (as defined in Rule 144) and carry no registration rights that require or permit the filing of any registration statement in connection therewith, and provided that any such issuance shall only be to a Person (or to the equity holders of a Person) which is, itself or through its subsidiaries, an operating company or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to a person or an entity whose primary business is investing in securities; (iv) shares of Class A Common Stock, options or convertible securities issued to banks, equipment lessors or other financial institutions, or to real property lessors, pursuant to a debt financing, equipment leasing or real property leasing transaction approved by a majority of the disinterested directors of the Company but shall not include a transaction in which the company is primarily issuing Class A Common Stock or Class A Common Stock Equivalents primarily for the purpose of raising capital or to a person or an entity whose primary business is investing in securities; (v) shares of Class A Common Stock, options or convertible securities issued in connection with the provision of goods or services pursuant to transactions approved by a majority of the disinterested directors of the Company but shall not include a transaction in which the company is issuing Class A Common Stock or Class A Common Stock Equivalents primarily for the purpose of raising capital or to a person or an entity whose primary business is investing in securities; and (vi) shares of Class A Common Stock, options or convertible securities issued in connection with sponsored research, collaboration, technology license, development, investor or public relations, marketing or other similar agreements or strategic partnerships approved by a majority of the disinterested directors of the Company but shall not include a transaction in which the Company is primarily issuing Class A Common Stock or Class A Common Stock Equivalents primarily for the purpose of raising capital or to a person or an entity whose primary business is investing in securities.

*"<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>Registration Statement</u>"* means the Company's registration statement on Form S-1, as amended (File No. 333-[●]).

*"<u>Securities Act</u>"* means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

*"<u>Subsidiary</u>"* means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

*"<u>Trading Day</u>"* means a day on which the Class A Common Stock is traded on a Trading Market.

*"<u>Trading Market</u>"* means any of the following markets or exchanges on which the Class A 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 OTCQB or OTCQX (or any successors to any of the foregoing).

*"<u>Transfer Agent</u>"* means Vstock Transfer, LLC, the current transfer agent of the Company, with a mailing address of 18 Lafayette Place, Woodmere, NY 11598 and any successor transfer agent of the Company.

*"<u>Underwriting Agreement</u>"* means the underwriting agreement, dated as of [●] [●], 2023, among the Company and EF Hutton, division of Benchmark Investments, LLC, as representative of the underwriters named therein, as amended, modified or supplemented from time to time in accordance with its terms.

*"<u>Variable Rate Transaction</u>"* means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or include the right to receive, additional shares of Class A Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon, and/or varies with, the trading prices of or quotations for the Class A Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market for the Class A Common Stock or (ii) enters into, or effects a transaction under, any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future determined price.

*"<u>VWAP</u>"* means, for any date, the price determined by the first of the following clauses that applies: (a) if the Class A Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Class A Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Class A Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Class A Common Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of Class A Common Stock so reported, or (d) in all other cases, the fair market value of a share of Class A Common Stock as determined by an independent appraiser selected in good faith by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

*"<u>Warrant Agency Agreement</u>"* means that certain warrant agency agreement, dated on or about the Initial Exercise Date, between the Company and the Warrant Agent.

*"<u>Warrant Agent</u>"* means the Transfer Agent and any successor warrant agent of the Company.

*"<u>Warrants</u>"* means this Warrant and other Class A Common Stock purchase warrants issued by the Company pursuant to the Registration Statement.

**<u>Section 2</u>.** <u>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;(a) <u>Exercise of Warrant</u>. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the *"<u>Notice of Exercise</u>"*). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in ***Section 2(d)(i)*** herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer or cashier's check drawn on a United States bank unless the cashless exercise procedure specified in ***Section 2(c)*** below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. **The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.**

Notwithstanding the foregoing in this ***Section 2(a)***, a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing this Warrant held in book-entry form through DTC (or another established clearing corporation performing similar functions), shall effect exercises made pursuant to this ***Section 2(a)***by delivering to DTC (or such other clearing corporation, as applicable) the appropriate instruction form for exercise, complying with the procedures to effect exercise that are required by DTC (or such other clearing corporation, as applicable), subject to a Holder's right to elect to receive a Warrant in certificated form pursuant to the terms of the Warrant Agency Agreement, in which case this sentence shall not apply.

&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>Exercise Price</u>. The exercise price per Warrant Share under this Warrant shall be $[__],<sup>2</sup> subject to adjustment hereunder (the *"<u>Exercise Price</u>"*), provided that in no case shall the exercise price be less than the par value of the Class A Common Stock. The Holder shall not be entitled to the return or refund of all, or any portion, of such pre-paid aggregate exercise price under any circumstance or for any reason whatsoever, including in the event this Warrant shall not have been exercised prior to the Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Cashless Exercise</u>. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a *"<u>cashless exercise</u>"* in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

---

| | |
|:---|:---|
| (A) = | as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to ***Section 2(a)*** hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to ***Section 2(a)*** hereof on a Trading Day prior to the opening of *"<u>regular trading hours</u>"* (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Class A Common Stock on the principal Trading Market as reported by Bloomberg L.P. (*"<u>Bloomberg</u>"*) as of the time of the Holder's execution of the applicable Notice of Exercise if such Notice of Exercise is executed during *"<u>regular trading hours</u>"* on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of *"<u>regular trading hours</u>"* on a Trading Day) pursuant to ***Section 2(a)*** hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to ***Section 2(a)*** hereof after the close of *"<u>regular trading hours</u>"* on such Trading Day; |
| (B) = | the Exercise Price of this Warrant, as adjusted hereunder; and |
| (X) = | the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise. |

---

<sup>2</sup> 110% of the public offering price per unit sold in this offering.

Notwithstanding anything herein to the contrary, but without limiting the rights of a Holder to receive Warrant Shares on a *"<u>cashless exercise</u>"* pursuant to this ***Section 2(c)*** or to receive cash payments pursuant to subsections (i) and (iv) of ***Section 3(d)*** herein, the Company shall not be required to make any cash payments or net cash settlement to the Holder in lieu of delivery of the Warrant Shares. If Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to take any position contrary to this ***Section 2(c)***.

Notwithstanding anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant to this ***Section 2(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;(d) <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 Warrant Shares Upon Exercise</u>. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by 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 and Withdrawal at Custodian system (*"<u>DWAC</u>"*) if the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) this Warrant is being exercised via cashless exercise, 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 Warrant 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, (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 after the delivery to the Company of the Notice of Exercise (such date, the *"<u>Warrant Share Delivery Date</u>"*). 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 Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant 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. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Class A Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, *"<u>Standard Settlement Period</u>"* means the standard settlement period, expressed in a number of Trading Days, on the Company's primary Trading Market with respect to the Class A Common Stock as in effect on the date of delivery of the Notice of Exercise. Notwithstanding the foregoing, with respect to any Notice(s) of Exercise delivered on or prior to 12:00 p.m. (New York City time) on the Initial Exercise Date, which may be delivered at any time after the time of execution of the Underwriting Agreement, the Company agrees to deliver the Warrant Shares subject to such notice(s) by 4:00 p.m. (New York City time) on the Initial Exercise Date and the Initial Exercise Date shall be the Warrant Share Delivery Date for purposes hereunder, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by such Warrant Share Delivery 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) <u>Delivery of New Warrants Upon Exercise</u>. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this 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 Warrant Shares pursuant to ***Section 2(d)(i)*** 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 Warrant 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 Warrant Shares in accordance with the provisions of ***Section 2(d)(i)*** pursuant to an exercise on or before the Warrant Share Delivery Date, 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 Class A Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a *"<u>Buy-In</u>"*), 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 Class A Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant 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 Warrant and equivalent number of Warrant 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 Class A 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 Warrant Shares having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of Warrant Shares 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 Warrant Shares 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 Warrant Shares or scrip representing fractional Warrant Shares shall be issued upon the exercise of this 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 Warrant 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 Warrant 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 Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that, in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto 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 and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) <u>Closing of Books</u>. The Company will not close its shareholder books or records in any manner which prevents the timely exercise of this Warrant, 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;(e) <u>Holder's Exercise Limitations</u>. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, 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, *"<u>Attribution Parties</u>"*)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Class A Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of Warrant Shares issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of Warrant Shares which would be issuable upon (i) exercise of the remaining, nonexercised portion of this 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 Class A 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(e)***, 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(e)*** applies, the determination of whether this 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 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 Warrant is exercisable (in relation to other securities owned by the Holder together ***Section 2(e)*** any Affiliates and Attribution Parties) and of which portion of this 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 2(e)***, in determining the number of outstanding shares of Class A Common Stock, a Holder may rely on the number of outstanding shares of Class A 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 the Transfer Agent setting forth the number of shares of Class A 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 Class A Common Stock then outstanding. In any case, the number of outstanding shares of Class A Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Class A Common Stock was reported. The *"<u>Beneficial Ownership Limitation</u>"* shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number of shares of Class A Common Stock outstanding immediately after giving effect to the issuance of Warrant Shares issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of Class A Common Stock outstanding immediately after giving effect to the issuance of Warrant Shares upon exercise of this Warrant held by the Holder and the provisions of this Section% 2(e) 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 2(e)*** 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 Warrant.

**<u>Section 3</u>.** <u>Certain Adjustments</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>Stock Dividends and Splits</u>. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on Class A Common Stock or any other equity or equity equivalent securities payable in shares of Class A Common Stock (which, for avoidance of doubt, shall not include any Warrant Shares issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Class A Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Class A Common Stock into a smaller number of shares, or (iv) issues by reclassification of Class A Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Class A Common Stock and such other capital stock of the Company (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Class A Common Stock and such other capital stock of the Company (excluding treasury shares, if any) outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this ***Section 3(a)*** shall become effective immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

&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>Subsequent Equity Sales</u>. If the Company or any Subsidiary thereof, as applicable, at any time while this Warrant is outstanding, shall sell, enter into an agreement to sell, or grant any option to purchase, or sell, enter into an agreement to sell, or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Class A Common Stock or Class A Common Stock Equivalents, at an effective price per share less than the Exercise Price then in effect (such lower price, the *"<u>Base Share Price</u>"* and such issuances collectively, a *"<u>Dilutive Issuance</u>"*) (it being understood and agreed that if the holder of the Class A Common Stock or Class A Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection with such issuance, be entitled to receive shares of Class A Common Stock at an effective price per share that is less than the Exercise Price, such issuance shall be deemed to have occurred for less than the Exercise Price on such date of the Dilutive Issuance at such effective price), then simultaneously with the consummation (or, if earlier, the announcement) of each Dilutive Issuance the Exercise Price shall be reduced and only reduced to equal the Base Share Price provided that the Base Share Price shall not be less than $___ (subject to adjustment for reverse and forward stock splits, recapitalizations and similar transactions following the Initial Issuance Date). Notwithstanding the foregoing, no adjustments shall be made, paid or issued under this ***Section 3(b)*** in respect of an Exempt Issuance. The Company shall notify the Holder, in writing, no later than the Trading Day following the issuance or deemed issuance of any shares of Class A Common Stock or Class A Common Stock Equivalents subject to this ***Section 3(b)***, indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price and other pricing terms (such notice, the *"<u>Dilutive Issuance Notice</u>"*). For purposes of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant to this ***Section 3(b)***, upon the occurrence of any Dilutive Issuance, the Holder is entitled to receive a number of Warrant Shares based upon the Base Share Price regardless of whether the Holder accurately refers to the Base Share Price in the Notice of Exercise. If the Company enters into a Variable Rate Transaction, the Company shall be deemed to have issued shares of Class A Common Stock or Class A Common Stock Equivalents at the lowest possible price, conversion price or exercise price at which such securities may be issued, converted or exercised.

&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>Subsequent Rights Offerings</u>. In addition to any adjustments pursuant to ***Section 3(a)*** above, if at any time the Company grants, issues or sells any Class A Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of Class A Common Stock (the *"<u>Purchase Rights</u>"*), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Class A Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Class A Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that, to the extent that the Holder's right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Class A Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership 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;(d) <u>Pro Rata Distributions</u>. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of Class A Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a *"<u>Distribution</u>"*), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of Warrant Shares acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of Class A Common Stock are to be determined for the participation in such Distribution (provided, however, that, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Class A Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation). To the extent that this Warrant has not been partially or completely exercised at the time of such Distribution, such portion of the Distribution shall be held in abeyance for the benefit of the Holder until the Holder has exercised this 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;(e) <u>Fundamental Transaction</u>. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Class A Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding shares of Class A Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Class A Common Stock or any compulsory share exchange pursuant to which the Class A Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Class A Common Stock (not including any shares of Class A Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a *"<u>Fundamental Transaction</u>"*), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in ***Section 2(e)*** on the exercise of this Warrant), the number of shares of capital stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the *"<u>Alternate Consideration</u>"*) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Class A Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in ***Section 2(e)*** on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one Warrant Share in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Class A Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder's option, exercisable at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction), purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value (as defined below) of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided, however, that, if the Fundamental Transaction is not within the Company's control, including not approved by the Company's Board of Directors, Holder shall only be entitled to receive from the Company or any Successor Entity the same type or form of consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant, that is being offered and paid to the holders of Class A Common Stock of the Company in connection with the Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether the holders of Class A Common Stock are given the choice to receive from among alternative forms of consideration in connection with the Fundamental Transaction; provided, further, that if holders of Class A Common Stock of the Company are not offered or paid any consideration in such Fundamental Transaction, such holders of Class A Common Stock will be deemed to have received Class A Common Stock of the Successor Entity (which Entity may be the Company following such Fundamental Transaction) in such Fundamental Transaction. *"<u>Black Scholes Value</u>"* means the value of this Warrant based on the Black-Scholes Option Pricing Model obtained from the *"<u>OV</u>"* function on Bloomberg determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the greater of (i) the sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (ii) the highest VWAP during the period beginning on the Trading Day immediately preceding the announcement of the applicable Fundamental Transaction (or the consummation of the applicable Fundamental Transaction, if earlier) and ending on the Trading Day of the Holder's request pursuant to this ***Section 3(e)*** and (D) a remaining option time equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date and (E) a zero cost of borrow. The payment of the Black Scholes Value will be made by wire transfer of immediately available funds (or such other consideration) within the later of (i) five (5) Business Days of the Holder's election and (ii) the date of consummation of the Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the *"<u>Successor Entity</u>"*) to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this ***Section 3(e)*** pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the Warrant Shares acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the Warrant Shares pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the *"<u>Company</u>"* shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company 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;(f) <u>Calculations</u>. All calculations under this ***Section 3*** shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this ***Section 3***, the number of shares of Class A Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number shares of Class A Common Stock (excluding treasury shares, if any) issued and outstanding.

&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>Notice to Holder</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>Adjustment to Exercise Price</u>. Whenever the Exercise Price is adjusted pursuant to any provision of this ***Section 3***, the Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Notice to Allow Exercise by Holder</u>. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Class A Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Class A Common Stock, (C) the Company shall authorize the granting to all holders of the Class A Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification of the Class A Common Stock, any consolidation or merger to which the Company (or any of its Subsidiaries) is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Class A Common Stock are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Class A Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Class A Common Stock of record shall be entitled to exchange their shares of Class A Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Voluntary Adjustment by Company</u>. Subject to the rules and regulations of the Trading Market, the Company may at any time during the term of this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the board of directors of the Company.

**<u>Section 4</u>.** Transfer of 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;(a) <u>Transferability</u>. This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

&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>New Warrants</u>. If this Warrant is not held in global form through DTC (or any successor depositary), this Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with ***Section 4(a)***, as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial Issuance Date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable 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;(c) <u>Warrant Register</u>. The Warrant Agent and/or the Company (with regard to any portion of the Warrant in certificated form issued pursuant to the terms of the Warrant Agency Agreement) shall register this Warrant, upon records to be maintained by the Warrant Agent and/or the Company for that purpose (the *"<u>Warrant Register</u>"*), in the name of the record Holder hereof from time to time. The Company and the Warrant Agent may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

**<u>Section 5</u>.** <u>Miscellaneous</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>No Rights as Shareholder Until Exercise; No Settlement in Cash</u>. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a shareholder of the Company prior to the exercise hereof as set forth in ***Section 2(d)(i)***), except as expressly set forth in ***Section 3***. Without limiting any rights of a Holder to receive Warrant Shares on a *"<u>cashless exercise</u>"* pursuant to ***Section 2(c)*** or to receive cash payments pursuant to ***Section 2(d)(i)*** and ***Section 2(d)(iv)*** herein, in no event shall the Company be required to net cash settle an exercise of this 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;(b) <u>Loss, Theft, Destruction or Mutilation of Warrant</u>. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock 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;(c) <u>Saturdays, Sundays, Holidays, etc</u>. 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.

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its articles of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of the Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be necessary to enable the Company to perform its obligations under this Warrant.

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction 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;(e) <u>Governing Law</u>. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an 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 Warrant 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 law. If either party shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable attorneys' fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

&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>Restrictions</u>. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal 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;(g) <u>Nonwaiver and Expenses</u>. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder's rights, powers or remedies. Without limiting any other provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys' fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies 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;(h) <u>Notices</u>. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation, any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight courier service, addressed to the Company, at 5025 West WT Harris Boulevard, Suite A, Charlotte, NC 28269; Attn: Corporate Secretary; facsimile number: [●] email address: [●], or such other facsimile number, email address or address as the Company may specify for such purposes by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this ***Section 5(h)*** prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day after the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this ***Section 5(h)*** on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading 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. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

&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>Limitation of Liability</u>. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Warrant Shares or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors 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;(j) <u>Remedies</u>. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

&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>Successors and Assigns</u>. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Amendment</u>. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand, and the Holder or the beneficial owner of this Warrant, on the other hand.

&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>Severability</u>. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this 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;(n) <u>Headings</u>. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this 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;(o) <u>Warrant Agency Agreement</u>. If this Warrant is held in global form through DTC (or any successor depositary), this Warrant is issued subject to the Warrant Agency Agreement. To the extent any provision of this Warrant conflicts with the express provisions of the Warrant Agency Agreement, the provisions of this Warrant shall govern and be controlling.

***\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\****

 

*(Signature Page Follows)*

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

---

| | |
|:---|:---|
| **T1V, INC** **.** | **T1V, INC** **.** |
| By: |  |
| Name: | Michael Feldman |
| Title: | President and Chief Executive Officer |

---

**<u>EXHIBIT A-1</u>**

**NOTICE OF EXERCISE**

TO: T1V, INC.

(1) The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

(2) Payment shall take the form of (check applicable box):

☐ in lawful money of the United States; or

☐ if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in ***Section 2(c)*** of the Warrant Certificte, to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in ***Section 2(c)*** of the Warrant Certficiate.

(3) Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

_______________________________

The Warrant Shares shall be delivered to the following DWAC Account Number:

_______________________________

_______________________________

_______________________________

**[SIGNATURE OF HOLDER]**

Name of Investing Entity:  

*Signature of Authorized Signatory of Investing Entity*:  

Name of Authorized Signatory:  

Title of Authorized Signatory:  

Date:

**<u>EXHIBIT A-2</u>**

**ASSIGNMENT FORM**

 

*(To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)*

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

---

| | |
|:---|:---|
| Name: |  |
|  | (Please Print) |
| Address: |  |
|  | (Please Print) |
| Phone Number | |
| Email Address | |
| Dated: ______________ ___, _______ |  |
| Holder's Signature: |  |
| Holder's Address: |  |

---

**<u>EXHIBIT B</u>**

**<u>WARRANT CERTIFICATE REQUEST NOTICE</u>**

To: [●], as Warrant Agent for T1V, Inc. (the *"<u>Company</u>"*)

The undersigned Holder of Class A Common Stock Purchase Warrants (*"<u>Warrants</u>"*) in the form of Global Warrants issued by the Company hereby elects to receive a Warrant Certificate evidencing the Warrants held by the Holder as specified below:

1. Name of Holder of Warrants in form of Global Warrants:

2. Name of Holder in Warrant Certificate (if different from name of Holder of Warrants in form of Global Warrants):

3. Number of Warrants in name of Holder in form of Global Warrants:

4. Number of Warrants for which Warrant Certificate shall be issued:

5. Number of Warrants in name of Holder in form of Global Warrants after issuance of Warrant Certificate, if any:

6. Warrant Certificate shall be delivered to the following address:

______________________________

______________________________

______________________________

he undersigned hereby acknowledges and agrees that, in connection with this Warrant Exchange and the issuance of the Warrant Certificate, the Holder is deemed to have surrendered the number of Warrants in form of Global Warrants in the name of the Holder equal to the number of Warrants evidenced by the Warrant Certificate.

**[SIGNATURE OF HOLDER]**

Name of Investing Entity:  

*Signature of Authorized Signatory of Investing Entity*:  

Name of Authorized Signatory:  

Title of Authorized Signatory:  

Date:

**<u>EXHIBIT C</u>**

**<u>GLOBAL WARRANTS REQUEST NOTICE</u>**

To: [●], as Warrant Agent for T1V, Inc. (the *"<u>Company</u>"*)

The undersigned Holder of Class A Common Stock Purchase Warrants (*"<u>Warrants</u>"*) in the form of Warrants Certificates issued by the Company hereby elects to receive a Global Warrant evidencing the Warrants held by the Holder as specified below:

1. Name of Holder of Warrants in form of Warrant Certificates:

2. Name of Holder in Global Warrant (if different from name of Holder of Warrants in form of Warrant Certificates):

3. Number of Warrants in name of Holder in form of Warrant Certificates:

4. Number of Warrants for which Global Warrant shall be issued:

5. Number of Warrants in name of Holder in form of Warrant Certificates after issuance of Global Warrant, if any:

6. Global Warrant shall be delivered to the following address:

______________________________

______________________________

______________________________

The undersigned hereby acknowledges and agrees that, in connection with this Global Warrant Exchange and the issuance of the Global Warrant, the Holder is deemed to have surrendered the number of Warrants in form of Warrant Certificates in the name of the Holder equal to the number of Warrants evidenced by the Global Warrant.

**[SIGNATURE OF HOLDER]**

Name of Investing Entity:  

*Signature of Authorized Signatory of Investing Entity*:  

Name of Authorized Signatory:  

Title of Authorized Signatory:  

Date:

**<u>EXHIBIT D</u>**

**<u>WARRANT AGENT COMPENSATION</u>**

## Exhibit 4.3

**Exhibit 4.3**

**Form of Representative's Warrant Agreement**

THE REGISTERED HOLDER OF THIS CLASS A COMMON STOCK PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER, OR ASSIGN THIS CLASS A COMMON STOCK PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS CLASS A COMMON STOCK PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE, OR HYPOTHECATE THIS CLASS A COMMON STOCK PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE COMMENCEMENT OF SALES OF CLASS A COMMON STOCK IN THE PUBLIC OFFERING TO ANYONE OTHER THAN (I) EF HUTTON, A DIVISION OF BENCHMARK INVESTMENTS, LLC (***"EF HUTTON"***) OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF EF HUTTON OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER.

THIS CLASS A COMMON STOCK PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [________________] [DATE THAT IS 180 DAYS FROM THE COMMENCEMENT OF SALES OF CLASS A COMMON STOCK IN THE PUBLIC OFFERING]. VOID AFTER 5:00 P.M., EASTERN TIME, [___________________] [DATE THAT IS FIVE YEARS FROM THE COMMENCEMENT OF SALES OF CLASS A COMMON STOCK IN THE PUBLIC OFFERING].

**CLASS A COMMON STOCK PURCHASE WARRANT**

**T1V, INC.**

---

| | |
|:---|:---|
| **Warrant Shares: [_______]** | **Original Issuance Date: [___________] [__], 2023** |

---

THIS CLASS A COMMON STOCK PURCHASE WARRANT (***"Warrant"***) certifies that, for value received, _____________ or its assigns (the ***"Holder"***) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after [___________] [__], 2023 (the ***"Initial Exercise Date"***) and, in accordance with FINRA Rule 5110(g)(8)(A), prior to at 5:00 p.m. (New York time) on the date that is five (5) years following the Original Issuance Date (the ***"Termination Date"***) but not thereafter, to subscribe for and purchase from T1V, Inc., a Delaware corporation (the ***"Company"***), up to ______ shares<sup>1</sup> of Class A Common Stock, par value $0.001 per share, of the Company (the ***"Warrant Shares"***), as subject to adjustment hereunder. The purchase price of one share of Class A Common Stock under this Warrant shall be equal to the Exercise Price, as defined in <u>Section 2(b)</u>.

**Section 1. <u>Definitions</u>**. In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this <u>Section 1</u>:

***"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.

***"Alternate Consideration"*** shall have the meaning set forth in <u>Section 3(d)</u>.

***"Beneficial Ownership Limitation"*** shall have the meaning set forth in <u>Section 2(e)</u>.

***"Business Day"*** 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 generally are open for use by customers on such day.

***"Buy-In"*** shall have the meaning set forth in <u>Section 2(d)(iv)</u>.

***"Commission"*** means the United States Securities and Exchange Commission.

<sup>1</sup> 5% of Class A Common Shares sold in the offering.

***"Company"*** shall have the meaning set forth in the Preamble.

***"Demand Notice"*** shall have the meaning set forth in <u>Section 5(a)(i)</u>.

***"Distribution"*** shall have the meaning set forth in <u>Section 3(c)</u>.

***"DWAC"*** shall have the meaning set forth in <u>Section 2(d)(i)</u>.

***"Exchange Act"*** means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

***"Fundamental Transaction"*** shall have the meaning set forth in <u>Section 3(d)</u>.

***"Holder"*** shall have the meaning set forth in the Preamble.

***"Initial Exercise Date"*** shall have the meaning set forth in the Preamble.

***"Majority Holders"*** shall have the meaning set forth in <u>Section 5(a)(i)</u>.

***"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.

***"Purchase Rights"*** shall have the meaning set forth in <u>Section 3(b)</u>.

***"Registrable Securities"*** shall have the meaning set forth in <u>Section 5(a)(i)</u>.

***"Rule 144"*** means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.

***"Securities Act"*** means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

***"Successor Entity"*** shall have the meaning set forth in <u>Section 3(d)</u>.

***"Termination Date"*** shall have the meaning set forth in the Preamble.

***"Trading Day"*** means a day on which the Class A Common Stock is traded on a Trading Market.

***"Trading Market"*** means any of the following markets or exchanges on which the Class A 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, or the New York Stock Exchange (or any successors to any of the foregoing).

***"Underwriting Agreement"*** shall have the meaning set forth in <u>Section 5(c)(i)</u>.

***"VWAP"*** means, for any date, the price determined by the first of the following clauses that applies: (a) if the Class A Common Stock is then listed or quoted on a Trading Market, the daily volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Class A Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:00 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Class A Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Class A Common Stock are then reported on the Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of Class A Common Stock so reported, or (d) in all other cases, the fair market value of a share of Class A Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

***"Warrant"*** shall have the meaning set forth in the Preamble.

***"Warrant Register"*** shall have the meaning set forth in <u>Section 4(c)</u>.

***"Warrant Share Delivery Date"*** shall have the meaning set forth in <u>Section 2(d)(i)</u>.

***"Warrant Shares"*** shall have the meaning set forth in the Preamble.

**Section 2. Exercise**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise Form attached hereto as Exhibit A. Within two (2) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by wire transfer of immediately available funds or cashier's check drawn on a United States bank unless the cashless exercise procedure specified in <u>Section 2(c)</u> below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within five (5) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise Form within two (2) Business Days of receipt of such notice. **The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Exercise Price</u>. The exercise price per share of the Class A Common Stock under this Warrant shall be $[____] (110% of the price of the Class A Common Stock sold in the public offering), subject to adjustment hereunder (the ***"Exercise Price"***).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Cashless Exercise</u>. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained therein is not available for the issuance of the Warrant Shares to the Holder, then in lieu of exercising this Warrant by delivering the aggregate Exercise Price by wire transfer or cashier's check, at the election of the Holder this Warrant may also be exercised, in whole or in part, at such time, by means of a ***"cashless exercise"*** in which the Holder shall be entitled to receive the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

---

| | |
|:---|:---|
| (A) = | as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to <u>Section 2(a)</u> hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to <u>Section 2(a)</u> hereof on a Trading Day prior to the opening of "regular trading hours" (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is executed during "regular trading hours" on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of "regular trading hours" on a Trading Day) pursuant to <u>Section 2(a)</u> hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to <u>Section 2(a)</u> hereof after the close of "regular trading hours" on such Trading Day; |

---

(B) = the Exercise Price of this Warrant, as adjusted hereunder; and

(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

If Warrant Shares are issued in such a "cashless exercise," the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised, and the holding period of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares. The Company agrees not to take any position contrary to this <u>Section 2(c)</u>.

Notwithstanding anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant to this <u>Section 2(c).</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <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;(i) *<u>Delivery of Warrant Shares Upon Exercise</u>*. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by its 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 Warrant Shares to or resale of the Warrant Shares by Holder, or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale limitations pursuant to Rule 144 and, in either case, the Warrant Shares have been sold by the Holder prior to the Warrant Share Delivery Date (as defined below), 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 Warrant 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 two (2) Trading Days after the delivery to the Company of the Notice of Exercise (such date, the ***"Warrant Share Delivery Date"***). If the Warrant Shares can be delivered via DWAC, the transfer agent shall have received from the Company, at the expense of the Company, any legal opinions or other documentation required by it to deliver such Warrant Shares without legend (subject to receipt by the Company of reasonable back up documentation from the Holder, including with respect to affiliate status) and, if applicable and requested by the Company prior to the Warrant Share Delivery Date, the transfer agent shall have received from the Holder a confirmation of sale of the Warrant Shares (*provided* the requirement of the Holder to provide a confirmation as to the sale of Warrant Shares shall not be applicable to the issuance of unlegended Warrant Shares upon a cashless exercise of this Warrant if the Warrant Shares are then eligible for resale pursuant to Rule 144(b)(1)). The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to <u>Section 2(d)(vi)</u> prior to the issuance of such shares, having been paid. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the second (2<sup>nd</sup>) Trading Day following the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Class A Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5<sup>th</sup>) Trading Day after such liquidated damages begin to accrue) for each Trading Day after the second (2<sup>nd</sup>) Trading Day following such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds 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;(ii) *<u>Delivery of New Warrants Upon Exercise</u>*. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this 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;(iii) *<u>Rescission Rights</u>*. If the Company fails to cause its transfer agent to deliver to the Holder the Warrant Shares pursuant to <u>Section 2(d)(i)</u> by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise; *provided*, *however*, that the Holder shall be required to return any Warrant Shares or Class A Common Stock subject to any such rescinded exercise notice concurrently with the return to Holder of the aggregate Exercise Price paid to the Company for such Warrant Shares and the restoration of Holder's right to acquire such Warrant Shares pursuant to this Warrant (including, issuance of a replacement warrant certificate evidencing such restored right).

&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 Warrant Shares Upon Exercise</u>*. In addition to any other rights available to the Holder, if the Company fails to cause its transfer agent to transmit to the Holder the Warrant Shares pursuant to an exercise on or before the Warrant Share Delivery Date, 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 Class A Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant 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 Class A Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant 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 Warrant and equivalent number of Warrant 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 Class A 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 Class A Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Class A 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 Class A 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;(v) *<u>No Fractional Shares or Scrip</u>*. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this 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;(vi) *<u>Charges, Taxes, and Expenses</u>*. Issuance of Warrant 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 Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; *provided*, *however*, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto as Exhibit B 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 and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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 Warrant, 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;(viii) *<u>Signature</u>*. This <u>Section 2</u> and the Notice of Exercise form attached hereto set forth the totality of the procedures required of the Holder in order to exercise this Warrant. Without limiting the preceding sentences, no ink-original exercise form shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any exercise form be required in order to exercise this Warrant. No additional legal opinion, other information, or instructions shall be required of the Holder to exercise this Warrant. The Company shall honor exercises of this Warrant and shall deliver shares underlying this Warrant in accordance with the terms, conditions, and time periods set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Holder's Exercise Limitations</u>. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to <u>Section 2</u> 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), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Class A Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Class A Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Class A Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates 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) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates. Except as set forth in the preceding sentence, for purposes of this <u>Section 2(e)</u>, 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 <u>Section 2(e)</u> applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this 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 Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion of this 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 <u>Section 2(e)</u>, in determining the number of outstanding shares of Class A Common Stock, a Holder may rely on the number of outstanding shares of Class A 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 the Company's transfer agent setting forth the number of shares of Class A Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two (2) Trading Days confirm orally and in writing to the Holder the number of shares of Class A Common Stock then outstanding. In any case, the number of outstanding shares of Class A Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates since the date as of which such number of outstanding shares of Class A Common Stock was reported. The ***"Beneficial Ownership Limitation"*** shall be 9.99% of the number of shares of the Class A Common Stock outstanding immediately after giving effect to the issuance of shares of Class A Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this <u>Section 2(e)</u>, *provided* that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Class A Common Stock outstanding immediately after giving effect to the issuance of shares of Class A Common Stock upon exercise of this Warrant held by the Holder and the provisions of this <u>Section 2(e)</u> shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the sixty-first (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 <u>Section 2(e)</u> 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 Warrant.

**Section 3. Certain Adjustments.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Stock Dividends and Splits</u>. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Class A Common Stock or any other equity or equity equivalent securities payable in shares of Class A Common Stock (which, for avoidance of doubt, shall not include any shares of Class A Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Class A Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Class A Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of the Class A Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Class A Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Class A Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this <u>Section 3(a)</u> shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination, or re-classification. For the purposes of clarification, the Exercise Price of this Warrant will not be adjusted in the event that the Company or any Subsidiary thereof, as applicable, sells or grants any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant, or any option to purchase or other disposition) any Class A Common Stock or Common Stock Equivalents, at an effective price per share less than the Exercise Price then in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Subsequent Rights Offerings</u>. In addition to any adjustments pursuant to <u>Section 3(a)</u> above, if at any time the Company grants, issues, or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities, or other property pro rata to the record holders of any class of shares of Class A Common Stock (the ***"Purchase Rights"***), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Class A Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance, or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Class A Common Stock are to be determined for the grant, issue, or sale of such Purchase Rights (*provided*, *however*, to the extent that the Holder's right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Class A Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Pro Rata Distributions</u>. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend (other than cash dividends) or other distribution of its assets (or rights to acquire its assets) to holders of shares of Class A Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of shares or other securities, property, or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement, or other similar transaction) (a ***"Distribution"***), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Class A Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Class A Common Stock are to be determined for the participation in such Distribution (*provided*, *however*, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Class A Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation). To the extent that this Warrant has not been partially or completely exercised at the time of such Distribution, such portion of the Distribution shall be held in abeyance for the benefit of the Holder until the Holder has exercised this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Fundamental Transaction</u>. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance, or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer, or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Class A Common Stock are permitted to sell, tender, or exchange their shares for other securities, cash, or property and has been accepted by the holders of fifty percent (50%) or more of the outstanding Class A Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization, or recapitalization of the Class A Common Stock or any compulsory share exchange pursuant to which the Class A Common Stock is effectively converted into or exchanged for other securities, cash, or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than fifty percent (50%) of the outstanding shares of Class A Common Stock (not including any shares of Class A Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a ***"Fundamental Transaction"***), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in <u>Section 2(e)</u> on the exercise of this Warrant), the number of shares of Class A Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the ***"Alternate Consideration"***) receivable by holders of Class A Common Stock as a result of such Fundamental Transaction for each share of Class A Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in <u>Section 2(e)</u> on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Class A Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Class A Common Stock are given any choice as to the securities, cash, or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the ***"Successor Entity"***) to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this <u>Section 3(e)</u> pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Class A Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Class A Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the ***"Company"*** shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Calculations</u>. All calculations under this <u>Section 3</u> shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this <u>Section 3</u>, the number of shares of Class A Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Class A Common Stock (excluding treasury shares, if any) issued and outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Notice to Holder</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *<u>Adjustment to Exercise Price</u>*. Whenever the Exercise Price is adjusted pursuant to any provision of this <u>Section 3</u>, the Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *<u>Notice to Allow Exercise by Holder</u>*. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Class A Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Class A Common Stock, (C) the Company shall authorize the granting to all holders of the Class A Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Class A Common Stock, any consolidation, or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Class A Common Stock is converted into other securities, cash, or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation, or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed a notice to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights, or warrants, or if a record is not to be taken, the date as of which the holders of the Class A Common Stock of record to be entitled to such dividend, distributions, redemption, rights, or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer, or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Class A Common Stock of record shall be entitled to exchange their shares of the Class A Common Stock for securities, cash, or other property deliverable upon such reclassification, consolidation, merger, sale, transfer, or share exchange; *provided* that the failure to provide such notice or any defect therein shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

**Section 4. Transfer of Warrant.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transferability</u>. Pursuant to FINRA Rule 5110(g)(1), neither this Warrant nor any Warrant Shares issued upon exercise of this Warrant shall be sold, transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the securities by any person for a period of one hundred eighty (180) days immediately following the commencement of sales of the offering pursuant to which this Warrant is being issued, except the transfer of any security:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) by operation of law or by reason of reorganization of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to any FINRA member firm participating in the offering and the officers or partners thereof, if all securities so transferred remain subject to the lock-up restriction in this <u>Section 4(a)</u> for the remainder of the time period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if the aggregate amount of securities of the Company held by the Holder or related person do not exceed one percent (1%) of the securities being offered;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) that is beneficially owned on a pro-rata basis by all equity owners of an investment fund, *provided* that no participating member manages or otherwise directs investments by the fund, and participating members in the aggregate do not own more than ten percent (10%) of the equity in the fund; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the exercise or conversion of any security, if all securities received remain subject to the lock-up restriction in this <u>Section 4(a)</u> for the remainder of the time period.

Subject to the foregoing restriction, any applicable securities laws and the conditions set forth in <u>Section 4(d)</u>, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder delivers an assignment form to the Company assigning this Warrant full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

&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>New Warrants</u>. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with <u>Section 4(a)</u>, as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable 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;(c) <u>Warrant Register</u>. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the ***"Warrant Register"***), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

&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>Representation by the Holder</u>. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act.

**Section 5. Registration Rights.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Demand Registration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *<u>Grant of Right</u>*. In the event that the Warrant Shares are not otherwise registered under an effective registration statement, the Company, upon written demand (a ***"Demand Notice"***) of the Holder(s) of at least fifty-one percent (51%) of the Warrants and/or the underlying Warrant Shares (***"Majority Holders"***), agrees to register, on one occasion, all or any portion of the Warrant Shares underlying the Warrants (collectively, the ***"Registrable Securities"***). On such occasion, the Company will file a registration statement with the Commission covering the Registrable Securities within sixty (60) days after receipt of a Demand Notice and use its reasonable best efforts to have the registration statement declared effective promptly thereafter, subject to compliance with review by the Commission; *provided*, *however*, that the Company shall not be required to comply with a Demand Notice if the Company has filed a registration statement with respect to which the Holder is entitled to piggyback registration rights pursuant to <u>Section 5(b)</u> hereof and either: (i) the Holder has elected to participate in the offering covered by such registration statement or (ii) if such registration statement relates to an underwritten primary offering of securities of the Company, until the offering covered by such registration statement has been withdrawn or until thirty (30) days after such offering is consummated. The demand for registration may be made at any time beginning on the Initial Exercise Date and expiring on the fifth (5<sup>th</sup>) anniversary of the Original Issuance Date in accordance with FINRA Rule 5110(g)(8)(C). The Company covenants and agrees to give written notice of its receipt of any Demand Notice by any Holder(s) to all other registered Holders of the Warrants and/or the Registrable Securities within ten (10) days after the date of the receipt of any such Demand Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *<u>Terms</u>*. The Company shall bear all fees and expenses attendant to the registration of the Registrable Securities pursuant to <u>Section 5(a)(i)</u>, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities. The Company agrees to use its reasonable best efforts to cause the filing required herein to become effective promptly and to qualify or register the Registrable Securities in such States as are reasonably requested by the Holder(s); *provided*, *however*, that in no event shall the Company be required to register the Registrable Securities in a State in which such registration would cause: (i) the Company to be obligated to register or license to do business in such State or submit to general service of process in such State, or (ii) the principal shareholders of the Company to be obligated to escrow their shares of capital stock of the Company. The Company shall cause any registration statement filed pursuant to the demand right granted under <u>Section 5(a)(i)</u> to remain effective for a period of at least twelve (12) consecutive months after the date that the Holders of the Registrable Securities covered by such registration statement are first given the opportunity to sell all of such securities. The Holders shall only use the prospectuses provided by the Company to sell the Warrant Shares covered by such registration statement, and will immediately cease to use any prospectus furnished by the Company if the Company advises the Holder that such prospectus may no longer be used due to a material misstatement or omission. Notwithstanding the provisions of this <u>Section 5(a)(ii)</u>, the Holder shall be entitled to a demand registration under this <u>Section 5(a)(ii)</u> on only one occasion and such demand registration right shall terminate on the fifth (5<sup>th</sup>) anniversary of the date of the Underwriting Agreement in accordance with FINRA Rules 5110(g)(8)(B) and 5110(g)(8)(C).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) ***"***<u>Piggy-Back" Registration</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *<u>Grant of Right</u>*. In addition to the demand right of registration described in <u>Section 5(a)</u> hereof, in the event that the Warrant Shares are not otherwise registered under an effective registration statement, the Holder shall have the right, for a period of no more than five and one-half (5.5) years from the Initial Exercise Date in accordance with FINRA Rule 5110(g)(8)(D), to include 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); *provided*, *however*, 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 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 requested inclusion hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holders seeking to include Registrable Securities in proportion to the number of Registrable Securities sought to be included by such Holders; *provided*, *however*, 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;(ii) *<u>Terms</u>*. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to <u>Section 5(b)(i)</u> hereof, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders 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 the Holders shall continue to be given for each registration statement filed by the Company during the two (2) year period following the Initial Exercise Date until such time as all of the Registrable Securities have been sold by the Holder. 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 Warrant, there shall be no limit on the number of times the Holder may request registration under this <u>Section 5(b)(ii)</u>; *provided*, *however*, that such registration rights shall terminate on the second (2<sup>nd</sup>) anniversary of the Initial Exercise Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>General Terms</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *<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 6.01 of the Underwriting Agreement dated as of [___________] [__], 2022, by and between the Company, the Selling Stockholders of the Company named on Schedule II thereto (for the sole purpose of the Over-Allotment Option), and EF Hutton, a division of Benchmark Investments, LLC, as representatives of the underwriters named on Schedule I thereto (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, 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 6.02 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;(ii) *<u>Exercise of Warrants</u>*. Nothing contained in this Warrant shall be construed as requiring the Holder(s) to exercise their Warrants 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;(iii) *<u>Documents Delivered to Holders</u>*. The Company shall furnish to each Holder participating in any demand registration pursuant to <u>Section 5(a)</u> above, and to each underwriter of any such offering, if any, a signed counterpart, addressed to such Holder or underwriter, of: (i) an opinion of counsel to the Company, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering, 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, if such registration includes an underwritten public offering, 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 offering requesting the correspondence and memoranda described below and to the managing underwriter, if any, 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, during regular business hours and upon at least 48 hours prior written notice and opportunities to discuss the business of the Company with its officers and independent auditors, 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;(iv) *<u>Underwriting Agreement</u>*. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected by any Holders whose Registrable Securities are being registered pursuant to a demand registration as provided in <u>Section 5(a)</u> above, which managing underwriter shall be reasonably satisfactory to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder, 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. In the event the Holders shall be parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities, pursuant to a demand registration, as provided in <u>Section 5(a)</u> above, they 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. Additionally, in the event that the Holders shall exercise their piggy-back rights, as provided in <u>Section 5(b)</u> above, such Holders shall only be parties to any applicable underwriting agreement, to the extent that the underwriters request they be parties. 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 Warrant 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;(v) *<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;(vi) *<u>Damages</u>*. Should the registration or the effectiveness thereof required by <u>Section 5(a)</u> hereof be delayed by the Company, other than as a result of circumstances beyond the control of the Company including, without limitation, actions by the underwriters or delays resulting from anything other than the Company's failure to use its reasonable efforts to have the applicable registration statement declared effective, or the Company otherwise fails to materially 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 obtain 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.

**Section 6. Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Rights as Stockholder Until Exercise</u>. This Warrant does not entitle the Holder to any voting rights, dividends, or other rights as a stockholder of the Company prior to the exercise hereof as set forth in <u>Section 2(d)(i)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Loss, Theft, Destruction, or Mutilation of Warrant</u>. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction, or mutilation of this Warrant or any certificate relating to the Warrant Shares, and in case of loss, theft, or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Saturdays, Sundays, Holidays, etc</u>. 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 Trading Day, then, such action may be taken or such right may be exercised on the next succeeding Trading Day.

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amend its articles of incorporation, as amended, or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant, and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions, or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Jurisdiction</u>. All questions concerning the construction, validity, enforcement, and interpretation of this Warrant shall be determined in accordance with the provisions of the Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Restrictions</u>. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Nonwaiver and Expenses</u>. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder's rights, powers, or remedies. Without limiting any other provision of this Warrant or the Underwriting Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys' fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Notices</u>. Any notice, request, or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Underwriting Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Limitation of Liability</u>. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Class A Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Remedies</u>. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Successors and Assigns</u>. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Amendment</u>. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Severability</u>. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Headings</u>. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

*[Signature page follows]*

 

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

---

| |
|:---|
| **COMPANY** |
| **T1V, INC.,** |
| a Delaware corporation |

---

By: <br> Name: Michael Feldman <br> Title: President and Chief Executive Officer

**EXHIBIT A**

**<u>NOTICE OF EXERCISE</u>**

TO: T1V, Inc.

&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) The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

&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) Payment shall take the form of (check applicable box):

[ ] in lawful money of the United States; or

[ ] if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(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;(3) Please register and issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

_______________________________

The Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate 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;(4) <u>Accredited Investor</u>. If the Warrant is being exercised via cash exercise, the undersigned is an ***"accredited investor"*** as defined in Regulation D promulgated under the Securities Act of 1933, as amended

[SIGNATURE OF HOLDER]

Name of Investing Entity: _______________________________________________________________

*Signature of Authorized Signatory of Investing Entity*: _________________________________________

Name of Authorized Signatory: ___________________________________________________________

Title of Authorized Signatory: ____________________________________________________________

Date: ______________________________________________________________________________

**EXHIBIT B**

**<u>ASSIGNMENT FORM</u>**

(To assign the foregoing warrant, execute this form and supply required information. Do not use this form to exercise the warrant.)

FOR VALUE RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to

_______________________________________________ whose address is

_______________________________________________________________.

_______________________________________________________________

Dated: ______________, _______

Holder's Signature: _____________________________

Holder's Address: _____________________________

_____________________________

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

## Exhibit 4.4

**Exhibit 4.4**

**THIS CONVERTIBLE PROMISSORY NOTE (THIS "NOTE") AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT, APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN JURISDICTION. THIS NOTE AND SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, RENOUNCED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR THE AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.**

**T1VISIONS, INC.**

**CONVERTIBLE PROMISSORY NOTE**

**September 27, 2013**

**Charlotte, NC**

T1 Visions. Inc., a Delaware corporation (the **"Company"**) promises to pay to (the **"Lender"**), or its registered assigns, in lawful money of the United States of America the principal sum of , or such lesser amount as shall equal the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to 12% per annum, computed on the basis of the actual number of days elapsed and a year of 365 days. Unless earlier converted into shares of Series B Preferred (as defined below) pursuant to the terms of this Note, the principal and accrued interest shall be due and payable by Borrower on demand by Lender at any time. In the event Lender demands payment under this Note, the Company shall repay all outstanding principal and accrued interest over two years in twenty-four equal monthly payments. The outstanding principal balance shall continue to accrue interest during such repayment period and all such interest shall be amortized over the 24 month period.

1. <u>Interest</u>. Accrued interest on this Note shall be payable as set forth above.

2. <u>Payment</u>. Payment of principal, together with accrued interest, may not be made without the consent of the Lender at any time prior to the date six months and one day following the achievement of the Note Conversion Milestones (as defined below). The Company hereby waives demand, notice, presentment, protest and notice of dishonor.

3. <u>Security</u>. This Note is a general unsecured obligation of the Company.

4. <u>Priority</u>. This Note shall rank senior to all indebtedness except for all indebtedness of the Company arising under that certain Line of Credit (as amended and restated or modified from time to time (each a **"Senior Agreement"**) between the Company and First Citizens Bank (**"Senior Creditor"**), whether existing on the date hereof or hereafter arising (the **"Senior Debt"**). This Note is subordinated in right of payment to all indebtedness of the Company arising under the Senior Agreement. The Company hereby agrees, and by accepting this Note the Lender hereby acknowledges and agrees, that so long as any Senior Debt remains outstanding, (i) upon notice from Senior Creditor to the Company and the Lender that an Event of Default, or any event which the giving of notice or the passage of time or both would constitute an Event of Default, has occurred under the terms of the Senior Agreement (a **"Default Notice"**),the Company shall not make, and the Lender shall not receive or retain, any payment made under this Note and, (ii) if any payment is made in violation of this paragraph, the Lender shall promptly deliver the same to Senior Creditor in the form received, with any endorsement or assignment necessary for the transfer of such payment from the Lender to Senior Creditor, to be either (in Senior Creditor's sole discretion) held as cash collateral securing the Senior Debt or applied in reduction of the Senior Debt and, until so delivered, the Lender shall hold such payment in trust as the property of Senior Creditor. Nothing in this paragraph shall preclude or prohibit the Lender from receiving and retaining any payment hereunder unless and until the Lender has received a Default Notice (which shall be effective until waived in writing by the Senior Creditor) or from converting this Note or any amounts due hereunder into shares of Series B Preferred of the Company.

5. <u>Conversion of the Note</u>. The Note shall be convertible according to the following terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Automatic Conversion</u>. The principal and unpaid accrued interest of this Note will be automatically converted into shares of the Company's Series B Preferred Stock (the **"Series B Preferred"**) immediately upon the achievement of (i) all Milestones set forth in that certain Series B Preferred Stock Purchase Agreement dated June 1, 2013 by and between the Company and (the **"Purchase Agreement"**) <u>and</u> (ii) two consecutive quarters of positive EBITDA (collectively, the **"Note Conversion Milestones"**); provided that the objectives set forth in (i) and (ii) must be achieved at or prior to December 31, 2014. The number of shares of Series B Preferred to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by $84.40 (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Optional Conversion</u>. At any time prior to the date six months following the achievement of the Note Conversion Milestones, the principal and unpaid accrued interest of this Note may be converted, at the option of the Lender, in whole or in part, into shares of the Company's Series B Preferred Stock. The number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on a Note on the date of conversion by $84.40 per share (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Mechanics of Conversion</u>. Before the Lender shall be entitled to convert the same into Series B Preferred, the Lender shall give written notice to the Company of the election to convert this Note into Series B Preferred. The Company shall not be required to issue or deliver the Series B Preferred until the Lender has surrendered the Note to the Company.

(d) <u>Fractional Shares; Interest; Effect of Conversion</u>. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Lender upon the conversion of this Note, the Company shall pay to the Lender an amount equal to the product obtained by multiplying the conversion price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of any amounts specified in this Section 5(d), the Company shall be forever released from all its obligations and liabilities under this Note.

6. <u>Representations and Warranties of the Company</u>. In connection with the transactions provided for herein, the Company hereby represents and warrants to the Lender that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Due Incorporation, Good Standing, Corporate Power and Qualification</u>. The Company is a corporation duly incorporated, validly existing, and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on the business, assets (including intangible assets), liabilities, financial condition, property or results of operations of the Company (a **"Material Adverse Effect"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with the Next Equity Financing, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Note. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected in the provisions of this Note, the valid and enforceable obligations they purport to be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Compliance with Other Instruments</u>. The Company is not in violation or default (i) of any provisions of its Certificate of Incorporation or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound, the violation of which would have a Material Adverse Effect, or, to its knowledge, of any provision of federal or state statute, rule or regulation applicable to the Company, the violation of which would have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Valid Issuance of Capital Stock</u>. The Series B Preferred to be issued, sold and delivered upon conversion of this Note will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lender in the Note, will be issued in compliance with all applicable federal and state securities laws.

7. <u>Representations and Warranties of the Lender</u>. In connection with the transactions provided for herein, the Lender hereby represents and warrants to the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Authorization</u>. This Note constitutes the Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to availability of specific performance, injunctive relief or other equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Purchase Entirely for Own Account</u>. The Lender acknowledges that this Note is issued to the Lender in reliance upon the Lender's representation to the Company that the Note will be acquired for investment for the Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Note, the Lender further represents that the Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Disclosure of Information</u>. The Lender acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire this Note. The Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Investment Experience</u>. The Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in this Note. If other than an individual, the Lender also represents it has not been organized solely for the purpose of acquiring this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) <u>Accredited Investor</u>. The Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission (the **"SEC"**) under the Securities Act of 1933, as amended (the **"Securities Act"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) <u>Restricted Securities</u>. The Lender understands that this Note is characterized as a "restricted security" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances. In this connection, each Lender represents that it is familiar with Rule 144 as promulgated by the SEC under the Securities Act, as presently in effect and understands the resale limitations imposed thereby and by the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (g) <u>Further Limitations on Disposition</u>. Without in any way limiting the representations and warranties set forth above, the Lender further acknowledges and agrees that this Note and the Series B Preferred issuable upon conversion hereof are subject to the provisions of the Company's Bylaws, including without limitation, all restrictions on transfer and rights of first refusal described in the Bylaws. The Lender may inspect the Bylaws at the Company's principal office.

8. <u>Defaults and Remedies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Events of Default</u>. The following events shall be considered Events of Default with respect to this Note:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company shall default in the payment of any part of the
principal or unpaid accrued interest on the Note for more than 30 days after the same shall become due and payable, whether during the 24 month repayment period
or by acceleration or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company shall make an assignment for the benefit of creditors,
or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall
file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief
under any present or future statute, law or regulation, or shall file any answer admitting the material allegations of a petition filed
against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator
of the Company, or of all of any substantial part of the properties of the Company, or the Company or its respective directors or majority
stockholders shall take any action looking to the dissolution or liquidation of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Within 30 days after the commencement of any proceeding against
the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief
under any present or future statute, law or regulation, such proceeding shall not have been dismissed or, within 30 days after the appointment
without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial
part of the properties of the Company, such appointment shall not have been vacated; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The Company shall fail to observe or perform any other obligation
to be observed or performed by it under this Note, or any other agreement with the Lender, within 30 days after written notice from the
Lender to perform or observe the obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Remedies.</u> Upon the occurrence of an Event of Default under Section 8(a) hereof, at the option and upon the declaration of the Lender, the entire unpaid principal and accrued and unpaid interest on this Note shall, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and the Lender may, immediately and without expiration of any period of grace, enforce payment of all amounts due and owing under this Note and exercise any and all other remedies granted to it at law, in equity or otherwise.

9. **<u>Affirmative Covenants</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) The Company covenants and agrees that it shall not make any payment on the debt held by Mike Feldman in favor of the Company until the earlier of (i) the achievement of all Milestones set forth in the Purchase Agreement or (ii) December 31, 2013. Such debt will continue to accrue interest during such time, but will not be eligible to be repaid until the earlier of the two events set forth in the preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) The Company covenants and agrees that it shall not (i) incur, or commit itself to incur, any secured indebtedness other than the Senior Debt or (ii) increase the amount of the Senior Debt without Lender's consent. The Company further covenants and agrees that it shall take all actions necessary in order for this Note to continue to rank senior to all indebtedness of the Company, whenever incurred, except for the Senior Debt.

10. **<u>Acknowledgement</u>**. The Company and the Lender each acknowledge and agree that entry into this Note satisfies in full all obligations of Lender set forth in Section 1.3 of that certain Series B Preferred Stock Purchase Agreement dated June 1, 2013 by and between the Company and the Lender and that Lender shall have no further obligation to invest additional funds pursuant to such agreement.

11. **<u>Miscellaneous</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Amendments and Waivers</u>. Any provision of this Note may be amended or may be waived (either generally or in a particular instance, and either retroactively or prospectively) only by the agreement of the Company and the Lender or its registered assigns; and the observance of any provision of this Note that is for the benefit of the Lender may be waived, and any consent, approval, or other action to be given or taken by the Lender pursuant to the Note may be given or taken only by the consent of the Lender or its registered assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Note, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Entire Agreement; Governing Law</u>. This Note and the other documents delivered pursuant hereto constitutes the entire agreement between the Company and the Lender with respect to the subject matter hereof and supersedes in their entirety all prior undertakings and agreements of the Company and the Lender with respect to the subject matter hereof. This Note shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North Carolina (without reference to conflict of law provisions), as to all other matters

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Notices</u>. Unless otherwise provided herein, all notices required or permitted hereunder shall be in writing and deemed effectively given upon personal delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to (i) in the case of the Company, at 10430 Harris Oaks Boulevard, Suite F, Charlotte, NC 28269 with a required copy to Robinson, Bradshaw & Hinson, P.A., Attn: John M. Fogg, 1450 Raleigh Road, Suite 100, Chapel Hill, North Carolina 27517 or (ii) in the case of the Lender, at the address set forth on the signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) <u>No Rights or Liabilities as a Stockholder</u>. This Note does not by itself entitle the Lender to any voting rights or other rights as a stockholder of the Company. In the absence of conversion of this Note, no provisions of this Note, and no enumeration herein of the rights or privileges of the Lender, shall cause the Lender to be a stockholder of the Company for any purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) <u>Finder's Fee</u>. Each party represents that, except for the Company's obligations pursuant to its current agreement with Scale Financing LLC, it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless Lender from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (g) <u>Officers and Directors not Liable</u>. In no event shall any officer or director of the Company be liable for any amounts due and payable pursuant to this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (h) <u>Severability</u>. If one or more provisions of this Note are held to be unenforceable under applicable law, such provision shall be excluded from this Note and the balance of the Note shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) <u>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (j) <u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that the Lender shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the Preferred Stock of the Company which occur prior to the conversion of the Note, including, without limitation, any increase in the number of shares of Common Stock issuable upon conversion as a result of a dilutive issuance of capital stock.

[*Remainder of Page Intentionally Left Blank*]

 

The Company has caused this Convertible Promissory Note to be issued as of the date first written above.

---

| | |
|:---|:---|
| **T1VISIONS, INC.** | **T1VISIONS, INC.** |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, President |

---

**ACKNOWLEDGED AND AGREED:**

**LENDER**

---

| | |
|:---|:---|
| By: |  |
| Its: | Manager |
| By: |  |
| Name: |  |
| Title: |  |

---

**T1Visions, lnc.**

**Convertible Promissory Note**

**- Signature Page -**

## Exhibit 4.5

**Exhibit 4.5**

**THIS CONVERTIBLE PROMISSORY NOTE (THIS "NOTE") AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT, APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN JURISDICTION. THIS NOTE AND SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, RENOUNCED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR THE AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.**

**TlVISIONS, INC.**

**CONVERTIBLE PROMISSORY NOTE**

**March 10, 2014**

**Charlotte, NC**

TlVisions, Inc., a Delaware corporation (the **"Company")** promises to pay (the **"Lender"),** or its registered assigns, in lawful money of the United States of America the principal sum of or such lesser amount as shall equal the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to 12% per annum, computed on the basis of the actual number of days elapsed and a year of 365 days. Unless earlier converted into shares of Series B Preferred (as defined below) pursuant to the terms of this Note, the principal and accrued interest shall be due and payable by Borrower on demand by Lender at any time. In the event Lender demands payment under this Note, the Company shall repay all outstanding principal and accrued interest over two years in twenty-four equal monthly payments. The outstanding principal balance shall continue to accrue interest during such repayment period and all such interest shall be amortized over the 24 month period.

1. <u>Interest</u>. Accrued interest on this Note shall be payable as set forth above.

2. <u>Payment</u>. Payment of principal, together with accrued interest, may not be made without the consent of the Lender at any time prior to the date six months and one day following the achievement of the Note Conversion Milestones (as defined below). The Company hereby waives demand, notice, presentment, protest and notice of dishonor.

3. <u>Security</u>. This Note is a general unsecured obligation of the Company.

4. <u>Priority</u>. This Note shall rank senior to all indebtedness except for all indebtedness of the Company arising under that certain Line of Credit (as amended and restated or modified from time to time (each a **"Senior Agreement")** between the Company and First Citizens Bank ("Senior Creditor''), whether existing on the date hereof or hereafter arising (the "**Senior Debt**"). This Note is subordinated in right of payment to all indebtedness of the Company arising under the Senior Agreement. The Company hereby agrees, and by accepting this Note the Lender hereby acknowledges and agrees, that so long as any Senior Debt remains outstanding, (i) upon notice from Senior Creditor to the Company and the Lender that an Event of Default, or any event which the giving of notice or the passage of time or both would constitute an Event of Default, has occurred under the terms of the Senior Agreement (a **"Default Notice'')**, the Company shall not make, and the Lender shall not receive or retain, any payment made under this Note and, (ii) if any payment is made in violation of this paragraph, the Lender shall promptly deliver the same to Senior Creditor in the form received, with any endorsement or assignment necessary for the transfer of such payment from the Lender to Senior Creditor, to be either (in Senior Creditor's sole discretion) held as cash collateral securing the Senior Debt or applied in reduction of the Senior Debt and, until so delivered, the Lender shall hold such payment in trust as the property of Senior Creditor. Nothing in this paragraph shall preclude or prohibit the Lender from receiving and retaining any payment hereunder unless and until the Lender has received a Default Notice (which shall be effective until waived in writing by the Senior Creditor) or from converting this Note or any amounts due hereunder into shares of Series B Preferred of the Company.

5. <u>Conversion of the Note</u>. The Note shall be convertible according to the following terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Automatic Conversion</u>. The principal and unpaid accrued interest of this Note will be automatically converted into shares of the Company's Series B Preferred Stock (the **"Series B Preferred"**) immediately upon the achievement of two consecutive quarters of positive EBITDA (the **"Note Conversion Milestone"**); provided that the Note Conversion Milestone must be achieved at or prior to December 31, 2014. The number of shares of Series B Preferred to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on this Note on the date of conversion, by $84.40 (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Optional Conversion</u>. At any time prior to the date six months following the achievement of the Note Conversion Milestone, the principal and unpaid accrued interest of this Note may be converted, at the option of the Lender, in whole or in part, into shares of the Company's Series B Preferred Stock. The number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on a Note on the date of conversion by $84.40 per share (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Mechanics of Conversion</u>. Before the Lender shall be entitled to convert the same into Series B Preferred, the Lender shall give written notice to the Company of the election to convert this Note into Series B Preferred. The Company shall not be required to issue or deliver the Series B Preferred until the Lender has surrendered the Note to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Fractional Shares; Interest; Effect of Conversion</u>. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Lender upon the conversion of this Note, the Company shall pay to the Lender an amount equal to the product obtained by multiplying the conversion price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of any amounts specified in this Section 5(d), the Company shall be forever released from all its obligations and liabilities under this Note.

6. <u>Representations and Warranties of the Company</u>. In connection with the transactions provided for herein, the Company hereby represents and warrants to the Lender that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Due Incorporation, Good Standing, Corporate Power and Qualification</u>. The Company is a corporation duly incorporated, validly existing, and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on the business, assets (including intangible assets), liabilities, financial condition, property or results of operations of the Company (a **"Material Adverse Effect**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with the Note Conversion Milestone, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Note. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected in the provisions of this Note, the valid and enforceable obligations they purport to be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Compliance with Other Instruments</u>. The Company is not in violation or default (i) of any provisions of its Certificate of Incorporation or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound, the violation of which would have a Material Adverse Effect, or, to its knowledge, of any provision of federal or state statute, rule or regulation applicable to the Company, the violation of which would have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Valid Issuance of Capital Stock</u>. The Series B Preferred to be issued, sold and delivered upon conversion of this Note will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lender in the Note, will be issued in compliance with all applicable federal and state securities laws.

7. <u>Representations and Warranties of the Lender</u>. In connection with the transactions provided for herein, the Lender hereby represents and warrants to the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Authorization</u>. This Note constitutes the Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to availability of specific performance, injunctive relief or other equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Purchase Entirely for Own Account</u>. The Lender acknowledges that this Note is issued to the Lender in reliance upon the Lender's representation to the Company that the Note will be acquired for investment for the Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Note, the Lender further represents that the Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Disclosure of Information</u>. The Lender acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire this Note. The Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Investment Experience</u>. The Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in this Note. If other than an individual, the Lender also represents it has not been organized solely for the purpose of acquiring this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) <u>Accredited Investor</u>. The Lender is an "accredited investor'' within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission (the "**SEC**") under the Securities Act of 1933, as amended (the "**Securities Act**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) <u>Restricted Securities</u>. The Lender understands that this Note is characterized as a "restricted security" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances. In this connection, each Lender represents that it is familiar with Rule 144 as promulgated by the SEC under the Securities Act, as presently in effect and understands the resale limitations imposed thereby and by the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (g) <u>Further Limitations on Disposition</u>. Without in any way limiting the representations and warranties set forth above, the Lender further acknowledges and agrees that this Note and the Series B Preferred issuable upon conversion hereof are subject to the provisions of the Company's Bylaws, including without limitation, all restrictions on transfer and rights of first refusal described in the Bylaws. The Lender may inspect the Bylaws at the Company's principal office.

8 <u>Defaults and Remedies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Events of Default</u>. The following events shall be considered Events of Default with respect to this Note:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note for more than 30 days after
the same shall become due
and payable, whether during the 24 month repayment period or by acceleration or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The
Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become
due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization,
arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation, or shall
file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent
to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all of any substantial part of the properties
of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution
or liquidation of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Within
30 days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition,
readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall
not have been dismissed or, within 30 days after the appointment without the consent or acquiescence of the Company of any trustee, receiver
or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been
vacated; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The
Company shall fail to observe or perform any other obligation to be observed or performed by it under this Note, or any other agreement
with the Lender, within 30 days after written notice from the Lender to perform or observe the obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Remedies</u>. Upon the occurrence of an Event of Default under Section 8(a) hereof, at the option and upon the declaration of the Lender, the entire unpaid principal and accrued and unpaid interest on this Note shall, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and the Lender may, immediately and without expiration of any period of grace, enforce payment of all amounts due and owing under this Note and exercise any and all other remedies granted to it at law, in equity or otherwise.

9. **<u>Affirmative Covenants</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) The Company covenants and agrees that it shall not (i) incur, or commit itself to incur, any secured indebtedness other than the Senior Debt or (ii) increase the amount of the Senior Debt without Lender's consent. The Company further covenants and agrees that it shall take all actions necessary in order for this Note to continue to rank senior to all indebtedness of the Company, whenever incurred, except for the Senior Debt.

10. **<u>Miscellaneous</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Amendments and Waivers</u>. Any provision of this Note may be amended or may be waived (either generally or in a particular instance, and either retroactively or prospectively) only by the agreement of the Company and the Lender or its registered assigns; and the observance of any provision of this Note that is for the benefit of the Lender may be waived, and any consent, approval, or other action to be given or taken by the Lender pursuant to the Note may be given or taken only by the consent of the Lender or its registered assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Note, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Entire Agreement; Governing Law</u>. This Note and the other documents delivered pursuant hereto constitutes the entire agreement between the Company and the Lender with respect to the subject matter hereof and supersedes in their entirety all prior undertakings and agreements of the Company and the Lender with respect to the subject matter hereof. This Note shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North Carolina (without reference to conflict of law provisions), as to all other matters

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Notices</u>. Unless otherwise provided herein, all notices required or permitted hereunder shall be in writing and deemed effectively given upon personal delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to (i) in the case of the Company, at 10430 Harris Oaks Boulevard, Suite F, Charlotte, NC 28269 with a required copy to Robinson, Bradshaw & Hinson, P.A., Attn: John M. Fogg, 1450 Raleigh Road, Suite 100, Chapel Hill, North Carolina 27517 or (ii) in the case of the Lender, at the address set forth on the signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) <u>No Rights or Liabilities as a Stockholder</u>. This Note does not by itself entitle the Lender to any voting rights or other rights as a stockholder of the Company. In the absence of conversion of this Note, no provisions of this Note, and no enumeration herein of the rights or privileges of the Lender, shall cause the Lender to be a stockholder of the Company for any purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) <u>Finder's Fee</u>. Each party represents that, except for the Company's obligations pursuant to its current agreement with Scale Financing LLC, it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless Lender from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (g) <u>Officers and Directors not Liable</u>. In no event shall any officer or director of the Company be liable for any amounts due and payable pursuant to this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (h) <u>Severability</u>. If one or more provisions of this Note are held to be unenforceable under applicable law, such provision shall be excluded from this Note and the balance of the Note shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) <u>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (j) <u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that the Lender shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the Preferred Stock of the Company which occur prior to the conversion of the Note, including, without limitation, any increase in the number of shares of Common Stock issuable upon conversion as a result of a dilutive issuance of capital stock.

*[Remainder of Page Intentionally Left Blank]*

 

The Company has caused this Convertible Promissory Note to be issued as of the date first Written above.

---

| | |
|:---|:---|
| **T1VISIONS, INC.** | **T1VISIONS, INC.** |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, President |

---

**ACKNOWLEDGED AND AGREED:**

**LENDER**

By:   <br> Name: <br> Title: Manager

**T1 Visions, lnc.**

**Convertible Promissory Note**

**- Signature Page -**

## Exhibit 4.6

**Exhibit 4.6**

**AMENDMENT TO CONVERTIBLE PROMISSORY NOTES**

This Amendment to Convertible Promissory Notes (this "**Amendment**") is made and entered into as of August 13, 2015 (the "**Effective Date**"), by and between T1Visions, Inc., a Delaware corporation (the "**Company**"), and xxxxxxxxxxx (the "**Holder**").

**WITNESSETH:**

WHEREAS, the Company previously issued to the Holder (i) a Convertible Promissory Note dated September 27, 2013 (the "**2013 Note**") and (ii) a Convertible Promissory Note dated March 10, 2014 (the "**2014 Note**" and, together with the 2013 Note, the "**Notes**");

WHEREAS, the Company has requested that the Holder enter into a subordination agreement with Square 1 Bank, and the Holder may enter into other subordination agreements in favor of the Company's senior lenders from time to time; and

WHEREAS, the Company and the Holder desire to amend the Notes in connection with the execution by the Holder of a subordination agreement in favor of Square 1 Bank.

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which hereby is acknowledged, the parties hereto agree as follows:

1. <u>Amendment of 2013 Note</u>. The first sentence in Section 5(b) of the 2013 Note is hereby amended and restated in its entirety as follows:

"(b) <u>Optional Conversion</u>. At any time prior to the date (such date, the "**Conversion Deadline**") six months following the achievement of the Note Conversion Milestones, the principal and unpaid accrued interest of this Note may be converted, at the option of the Lender, in whole or in part, into shares of the Company's Series B Preferred Stock; <u>provided</u>, <u>however</u>, that if at the time of the Conversion Deadline the Lender is subject to a subordination agreement in favor of a creditor of the Company that restricts payments of principal and interest under this Note, then the Conversion Deadline shall automatically be extended until 30 days after the date on which the Lender is no longer restricted under a subordination agreement from receiving payments of principal and interest under this Note."

2. <u>Amendment of 2014 Note</u>. The first sentence in Section 5(b) of the 2014 Note is hereby amended and restated in its entirety as follows:

"(b) <u>Optional Conversion</u>. At any time prior to the date (such date, the "**Conversion Deadline**") six months following the achievement of the Note Conversion Milestone, the principal and unpaid accrued interest of this Note may be converted, at the option of the Lender, in whole or in part, into shares of the Company's Series B Preferred Stock; <u>provided</u>, <u>however</u>, that if at the time of the Conversion Deadline the Lender is subject to a subordination agreement in favor of a creditor of the Company that restricts payments of principal and interest under this Note, then the Conversion Deadline shall automatically be extended until 30 days after the date on which the Lender is no longer restricted under a subordination agreement from receiving payments of principal and interest under this Note."

3. <u>Effect of Amendment</u>. Except as expressly amended hereby, the Notes shall be and remain in full force and effect.

4. <u>Governing Law</u>. This provisions of this Amendment shall be governed by and construed in accordance with the laws of the State of Delaware without reference to conflict of law provisions.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto cause this Amendment to be duly executed and effective as of the Effective Date.

---

| | |
|:---|:---|
| **THE COMPANY:** | **THE COMPANY:** |
| **T1VISIONS, INC.** | **T1VISIONS, INC.** |
| By: |  |
|  | Mike Feldman, President |
| **HOLDER:** | **HOLDER:** |
| By: |  |
| Title: | Title: |

---

**Amendment lo Convertible Promissory Notes**

**- Signature Page -**

## Exhibit 4.7

**Exhibit 4.7**

**SECOND AMENDMENT TO CONVERTIBLE PROMISSORY NOTES**

This Second Amendment to Convertible Promissory Notes (this "**Amendment**") is made and entered into as of February 5, 2020 (the "**Effective Date**"), by and between T1V, Inc. (f/k/a T1Visions, Inc.), a Delaware corporation (the "**Company**"), and T1 Investment LLC (the "**Lender**").

**WITNESSETH:**

WHEREAS, the Company previously issued to the Lender (i) a Convertible Promissory Note dated September 27, 2013, as amended by the Amendment to Convertible Promissory Note, dated August 13, 2015 (the "**2013 Note**"), and (ii) a Convertible Promissory Note dated March 10, 2014, as amended by the Amendment to Convertible Promissory Note dated August 13, 2015 (the "**2014 Note**" and, together with the 2013 Note, the "**Notes**");

WHEREAS, the Company and the Lender desire to amend the Notes to clarify the Lender's conversion rights;

WHEREAS, the Company has entered into a Note Purchase Agreement, dated as of February 5, 2020 in the form attached hereto as <u>Exhibit A</u> (the "**Purchase Agreement**"), pursuant to which the Company will issue one or more notes in the form attached to the Purchase Agreement as "Exhibit A," with an aggregate principal amount of up to $1,000,000 (the "**New Convertible Notes**"), and one or more notes in the form attached to the Purchase Agreement as "Exhibit B," with an aggregate principal amount of up to $1,000,000 (the "**Rollover Notes**" and, together with the New Convertible Notes, the "**New Notes**"); and

WHEREAS, the Lender desires to waive, with respect to the New Notes, the obligation of the Company under the Notes to take all actions necessary in order for the Notes to continue to rank senior to all indebtedness of the Company.

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which hereby is acknowledged, the parties hereto agree as follows:

1. <u>Amendment of 2013 Note</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) Section 2 of the 2013 Note is hereby amended and restated in its entirety as follows:

"2. <u>Payment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Payment of all or a portion of the outstanding principal and accrued interest on this Note may be made at any time after the Conversion Deadline (as defined in Section 5(b)), provided that it constitutes a "Permitted Payment," as defined below. For purposes of this Note, a "**Permitted Payment**" is (i) any proposed payment to be made by the Company at any time that the Lender is not bound by any subordination obligation to a Senior Lender (as defined in Section 5(b)), or (ii) any proposed payment to be made by the Company as to which any and all Senior Lenders have agreed to allow in the agreement creating the subordination obligation (including any amendment thereto), free from any claim of breach or obligation of the Lender to pay over any amount of such payment to such Senior Lender, other than an obligation of the Lender to pay over any payments received during the period commencing on the date of notification by a Senior Lender to the Lender that an event of default has occurred with respect to the Senior Debt of such Senior Lender and ending on the date such event of default has been cured to such Senior Lender's satisfaction or has been waived by such Senior Lender in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) In addition to the Company's unrestricted right to make a Permitted Payment after the Conversion Deadline, the Company also may offer to make full or partial payments on this Note prior to the Conversion Deadline on the following terms and conditions (a "**Payment Offer**"):

&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 such offer must provide the Lender with satisfactory written confirmation that the offered payment(s) are Permitted Payments;

&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) no such offer may be made if the Company has defaulted in payment to Lender under the terms of any previous Payment Offer that Lender has accepted (or been deemed to have accepted) pursuant to an "Optional Conversion Notice" (as defined 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;(iii) no such offer may be made sooner than 6 months after (A) the completion of all payments due under any previous Payment Offer, and/or (B) the conversion of a portion of this Note into shares of the Company's Series B Preferred Stock pursuant to an Optional Conversion Notice, whichever is applicable;

&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 offer shall provide at least 30 days' advance written notice of the planned payment date(s) and payment amount(s);

&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) if the offer is for a series of consecutive, monthly payments on multiple dates, each such payment amount must be at least $50,000, totaling at least the lesser of (A) $250,000 and (B) the outstanding principal and accrued interest on this Note, in the aggregate, with the first such payment commencing within 30 days after the Lender's Optional Conversion Notice, provided that the final monthly payment may be less than $50,000 if the outstanding principal and interest on this Note at the time of such final monthly payment is less than $50,000;

&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) if the offer is for a single payment date, then the minimum payment amount shall be at least the lesser of (A) $100,000 and (B) the outstanding principal and accrued interest on this Note, due within 30 days after the Lender's Optional Conversion Notice; 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;(vii) all such payment amounts shall continue to accrue interest on any unpaid principal balance until payment is actually made.

Upon receipt of any Payment Offer, the Lender shall have the right, by delivering written notice to the Company within 30 days after receipt of the Payment Offer (the "**Optional Conversion Notice**"), to either (x) accept such payment(s) as proposed in the Payment Offer, or (y) decline to receive all or a portion of such payments and instead to convert the declined portion described in such Payment Offer into shares of the Company's Series B Preferred Stock as described in Section 5(b) below. If the Lender fails to deliver an Optional Conversion Notice within 30 days after receipt of a Payment Offer, the Lender shall be deemed to have delivered an Optional Conversion Notice, on the 30<sup>th</sup> day after the date of receipt of the Payment Offer, electing to receive the payments as specified in the Payment Offer. If Lender has accepted (or been deemed to have accepted) a Payment Offer and the Company thereafter defaults in payment under such accepted Payment Offer, the Company may not make any further payments under such Payment Offer unless otherwise agreed in writing by Lender. Nothing in any such Payment Offer shall restrict the Lender's right to convert all or any part of this Note as described in Section 5(b) below, except to the extent of any portion of this Note for which the Lender has accepted (or been deemed to have accepted) a Payment Offer and as to which the Company has not defaulted in payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) All payments made on this Note shall be applied first to accrued interest and then to principal. The Company hereby waives demand, notice, presentment, protest and notice of dishonor."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) Section 5(b) of the 2013 Note is hereby amended and restated in its entirety as follows:

"(b) <u>Optional Conversion</u>. At any time prior to the date (such date, the "**Conversion Deadline**") 30 days after the date on which the Lender receives written notice (the "**Optional Conversion Notice**") and supporting documentation either from the Company or from any and all creditors of the Company to which this Note is subordinated (such creditors, the "**Senior Lenders**"), which supporting documentation is reasonably satisfactory to the Lender, stating that the Lender is released from all subordination obligations to such Senior Lenders, the unpaid principal and unpaid accrued interest of this Note may be converted, at the option of the Lender and upon written notice to the Company, in whole or in part, into shares of the Company's Series B Preferred Stock. The number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on a Note on the date of conversion by $84.40 per share (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like)."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) A new Section 9(c) is hereby added immediately following Section 9(b) of the 2013 Note as follows:

"(c) The Lender covenants that it will execute and deliver any termination agreement or other document reasonably required by any Senior Lender to cause this Note to no longer be subordinated to any obligations of the Company to such Senior Lender, subject to the Lender's review and approval of the form and substance of such documentation, which approval will not be unreasonably withheld."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) A new Section 9(d) is hereby added immediately following Section 9(c) of the 2013 Note as follows:

"(d) The Lender covenants that it will execute and deliver any affirmation, amendment or other document reasonably required by Pacific Western Bank in connection with increasing the credit limit under the Financing Agreement, dated as of August 12, 2015, as amended, between the Company and Pacific Western Bank (as successor in interest to Square 1 Bank) to $2,000,000 (the "**Credit Increase**"), subject to the Lender's review and approval of the form and substance of such documentation, which approval will not be unreasonably withheld, and provided, further, that such affirmation, amendment or other documentation becomes effective prior to the Optional Conversion Notice. The Lender agrees that the Affirmation of Subordination, substantially in the form attached to the Second Amendment to Convertible Promissory Notes dated February 5, 2020 as <u>Exhibit B</u> (the "**Affirmation**"), is reasonable and is in form and substance satisfactory to Lender and that Lender will execute and deliver the Affirmation with respect to the Credit Increase at the request of Company."

2. <u>Amendment of 2014 Note</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) Section 2 of the 2014 Note is hereby amended and restated in its entirety as follows:

"2. <u>Payment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Payment of all or a portion of the outstanding principal and accrued interest on this Note may be made at any time after the Conversion Deadline (as defined in Section 5(b)), provided that it constitutes a "Permitted Payment," as defined below. For purposes of this Note, a "**Permitted Payment**" is (i) any proposed payment to be made by the Company at any time that the Lender is not bound by any subordination obligation to a Senior Lender (as defined in Section 5(b)), or (ii) any proposed payment to be made by the Company as to which any and all Senior Lenders have agreed to allow in the agreement creating the subordination obligation (including any amendment thereto), free from any claim of breach or obligation of the Lender to pay over any amount of such payment to such Senior Lender, other than an obligation of the Lender to pay over any payments received during the period commencing on the date of notification by a Senior Lender to the Lender that an event of default has occurred with respect to the Senior Debt of such Senior Lender and ending on the date such event of default has been cured to such Senior Lender's satisfaction or has been waived by such Senior Lender in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In addition to the Company's unrestricted right to make a Permitted Payment after the Conversion Deadline, the Company also may offer to make full or partial payments on this Note prior to the Conversion Deadline on the following terms and conditions (a "**Payment Offer**"):

&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 such offer must provide the Lender with satisfactory written confirmation that the offered payment(s) are Permitted Payments;

&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) no such offer may be made if the Company has defaulted in payment to Lender under the terms of any previous Payment Offer that Lender has accepted (or been deemed to have accepted) pursuant to an "Optional Conversion Notice" (as defined 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;(iii) no such offer may be made sooner than 6 months after (A) the completion of all payments due under any previous Payment Offer, and/or (B) the conversion of a portion of this Note into shares of the Company's Series B Preferred Stock pursuant to an Optional Conversion Notice, whichever is applicable;

&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 offer shall provide at least 30 days' advance written notice of the planned payment date(s) and payment amount(s);

&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) if the offer is for a series of consecutive, monthly payments on multiple dates, each such payment amount must be at least $50,000, totaling at least the lesser of (A) $250,000 and (B) the outstanding principal and accrued interest on this Note, in the aggregate, with the first such payment commencing within 30 days after the Lender's Optional Conversion Notice, provided that the final monthly payment may be less than $50,000 if the outstanding principal and interest on this Note at the time of such final monthly payment is less than $50,000;

&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) if the offer is for a single payment date, then the minimum payment amount shall be at least the lesser of (A) $100,000 and (B) the outstanding principal and accrued interest on this Note, due within 30 days after the Lender's Optional Conversion Notice; 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;(vii) all such payment amounts shall continue to accrue interest on any unpaid principal balance until payment is actually made.

Upon receipt of any Payment Offer, the Lender shall have the right, by delivering written notice to the Company within 30 days after receipt of the Payment Offer (the "**Optional Conversion Notice**"), to either (x) accept such payment(s) as proposed in the Payment Offer, or (y) decline to receive all or a portion of such payments and instead to convert the declined portion described in such Payment Offer into shares of the Company's Series B Preferred Stock as described in Section 5(b) below. If the Lender fails to deliver an Optional Conversion Notice within 30 days after receipt of a Payment Offer, the Lender shall be deemed to have delivered an Optional Conversion Notice, on the 30<sup>th</sup> day after the date of receipt of the Payment Offer, electing to receive the payments as specified in the Payment Offer. If Lender has accepted (or been deemed to have accepted) a Payment Offer and the Company thereafter defaults in payment under such accepted Payment Offer, the Company may not make any further payments under such Payment Offer unless otherwise agreed in writing by Lender. Nothing in any such Payment Offer shall restrict the Lender's right to convert all or any part of this Note as described in Section 5(b) below, except to the extent of any portion of this Note for which the Lender has accepted (or been deemed to have accepted) a Payment Offer and as to which the Company has not defaulted in 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;(c) All payments made on this Note shall be applied first to accrued interest and then to principal. The Company hereby waives demand, notice, presentment, protest and notice of dishonor."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) Section 5(b) of the 2014 Note is hereby amended and restated in its entirety as follows:

"(b) <u>Optional Conversion</u>. At any time prior to the date (such date, the "**Conversion Deadline**") 30 days after the date on which the Lender receives written notice (the "**Optional Conversion Notice**") and supporting documentation either from the Company or from any and all creditors of the Company to which this Note is subordinated (such creditors, the "**Senior Lenders**"), which supporting documentation is reasonably satisfactory to the Lender, stating that the Lender is released from all subordination obligations to such Senior Lenders, the unpaid principal and unpaid accrued interest of this Note may be converted, at the option of the Lender and upon written notice to the Company, in whole or in part, into shares of the Company's Series B Preferred Stock. The number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on a Note on the date of conversion by $84.40 per share (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like)."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) A new Section 9(b) is hereby added immediately following Section 9(a) of the 2014 Note as follows:

"(c) The Lender covenants that it will execute and deliver any termination agreement or other document reasonably required by any Senior Lender to cause this Note to no longer be subordinated to any obligations of the Company to such Senior Lender, subject to the Lender's review and approval of the form and substance of such documentation, which approval will not be unreasonably withheld."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) A new Section 9(c) is hereby added immediately following Section 9(b) of the 2014 Note as follows:

"(d) The Lender covenants that it will execute and deliver any affirmation, amendment or other document reasonably required by Pacific Western Bank in connection with increasing the credit limit under the Financing Agreement, dated as of August 12, 2015, as amended, between the Company and Pacific Western Bank (as successor in interest to Square 1 Bank) to $2,000,000 (the "**Credit Increase**"), subject to the Lender's review and approval of the form and substance of such documentation, which approval will not be unreasonably withheld, and provided, further, that such affirmation, amendment or other documentation becomes effective prior to the Optional Conversion Notice. The Lender agrees that the Affirmation of Subordination, substantially in the form attached to the Second Amendment to Convertible Promissory Notes dated February 5, 2020 as <u>Exhibit B</u> (the "**Affirmation**"), is reasonable and is in form and substance satisfactory to Lender and that Lender will execute and deliver the Affirmation with respect to the Credit Increase at the request of Company."

3. <u>Waiver of Senior Debtholders</u>. The Lender, on behalf of itself and its affiliates, hereby (i) waives, with respect to the New Notes, the obligation of the Company under Section 9(b) of the 2013 Note and Section 9(a) of the 2014 Note to take all actions necessary in order for the Notes to continue to rank senior to all indebtedness of the Company; and (ii) agrees that the New Notes will rank pari passu in right of payment to the Notes.

4. <u>Effect of Amendment</u>. Except as expressly amended hereby, the Notes shall be and remain in full force and effect.

5. <u>Governing Law</u>. The provisions of this Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to conflict of law provisions.

[Signature Page Follows]

IN WITTNESS WEREOF, the parties hereto cause this Amendment to be duly executed and effective as of the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, President & CEO |

---

---

| | |
|:---|:---|
| **LENDER:** | **LENDER:** |
| T1 INVESTMENT LLC | T1 INVESTMENT LLC |
| By: |  |
|  | Chris McKee, Manager |

---

IN WITTNESS WEREOF, the parties hereto cause this Amendment to be duly executed and effective as of the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: |  |
|  | Mike Feldman, President & CEO |

---

---

| | |
|:---|:---|
| **LENDER:** | **LENDER:** |
| T1 INVESTMENT LLC | T1 INVESTMENT LLC |
| By: | /s/ Chris McKee |
|  | Chris McKee, Manager |

---

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

Note Purchase Agreement

**NOTE PURCHASE AGREEMENT**

This Note Purchase Agreement (this "**Agreement**") is made as of February 5, 2020 (the "**Effective Date**"), by and among T1V, Inc., a Delaware corporation (the "**Company**"), the individuals and entities (each, a "**Lender**" and, collectively, the "**Lenders**") listed on the **<u>Schedule of Lenders</u>** attached hereto, and the individuals and entities (each, a "**Rollover Lender**" and, collectively, the "**Rollover Lenders**") listed on the **<u>Schedule of Rollover Lenders</u>** attached hereto. Capitalized terms used by not otherwise defined herein shall have the meaning ascribed to them in Section 1 below.

**<u>RECITALS</u>**

WHEREAS, each of the Lenders intends to provide certain Consideration to the Company as described for each Lender on the **<u>Schedule of Lenders</u>**;

WHEREAS, each of the Rollover Lenders intend to exchange a certain portion of the outstanding principal and accrued interest (the "**Rollover Consideration**") under Existing Notes in consideration of the Rollover Notes as described for each Rollover Lender on the **<u>Schedule of Rollover Lenders</u>**;

WHEREAS, the amount owed by the Company under the Existing Notes will be reduced by the amount of the Rollover Consideration; and

WHEREAS, the parties wish to provide (a) for the sale and issuance of the Notes in return for the provision by the Lenders of the Consideration and (b) for the sale and issuance of the Rollover Notes in return for the exchange by the Rollover Lenders of the Rollover Consideration.

NOW, THEREFORE, the parties hereby agree as follows:

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

1. <u>Definitions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) "**Common Stock**" shall mean the common stock of the Company, par value $0.001 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) "**Consideration**" shall mean the amount of money paid by each Lender pursuant to this Agreement as shown on the **<u>Schedule of Lenders</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) "**Conversion Price**" shall mean 80% of the price paid per share for Equity Securities by the investors in the Qualified Financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) "**Conversion Shares**" shall mean the Equity Securities issued in the Qualified Financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) "**Equity Securities**" shall mean the Company's Common Stock or Preferred Stock or any securities conferring the right to purchase the Company's Common Stock or Preferred Stock or securities convertible into, or exchangeable for (with or without additional consideration), the Company's Common Stock or Preferred Stock, except any security granted, issued and/or sold by the Company to any director, officer, employee or consultant of the Company in such capacity for the primary purpose of soliciting or retaining their services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) "**Existing Notes**" means the existing promissory notes held by each Rollover Lender as shown on the **<u>Schedule of Rollover Lenders</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (g) "**Maturity Date**" shall mean February 5, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (h) "**Majority Note Holders**" shall mean the holders of a majority in interest of the aggregate principal amount of Notes and the Rollover Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) "**Notes**" shall mean the one or more convertible promissory notes issued to each Lender pursuant to Section 2(a)(i) below, the form of which is attached hereto as **<u>Exhibit A</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (j) "**Preferred Stock"** means, collectively, the (i) Series A-1 preferred stock of the Company, par value $0.001 per share, (ii) Series A-2 preferred stock of the Company, par value $0.001 per share, (iii) Series A-3 preferred stock of the Company, par value $0.001 per share (iv) Series A-4 preferred stock of the Company, par value $0.001 per share, (v) Series A-5 preferred stock of the Company, par value $0.001 per share, and (vi) Series B preferred stock of the Company, par value $0.001 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (k) "**Qualified Financing**" shall mean the next sale (or series of related sales) by the Company of its Equity Securities following the date of this Agreement from which the Company receives gross proceeds of not less than $5,000,000 (excluding (i) the aggregate amount of debt securities converted into Equity Securities upon conversion of the Notes and the Rollover Notes pursuant to Section 2(b) below; and (ii) the aggregate amount used to redeem Equity Securities or debt securities of the Company).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (l) "**Rollover Notes**" shall mean the one or more convertible promissory notes issued to each Rollover Lender pursuant to Section 2(a)(ii) below, the form of which is attached hereto as **<u>Exhibit B</u>**.

2. <u>Terms of the Notes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Issuance of Notes</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;(i) In return for the Consideration paid by each Lender, the Company shall sell and issue to such Lender one or more Notes. Each Note shall have a principal balance equal to that portion of the Consideration paid by such Lender, as set forth in the **<u>Schedule of Lenders</u>**. Each Note shall be convertible into Conversion Shares pursuant to Section 2(b) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) In return for the exchange of the Rollover Consideration by each Rollover Lender, the Company shall sell and issue to such Rollover Lender one or more Rollover Notes. Each Rollover Note shall have a principal balance equal to that portion of the Rollover Consideration exchanged by such Rollover Lender for the Rollover Note, as set forth in the **<u>Schedule of Rollover Lenders</u>**. Each Rollover Note shall be convertible into Conversion Shares pursuant to Section 2(b) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Conversion upon Qualified Financing</u>. The principal and unpaid accrued interest of each Note and Rollover Note will be automatically converted into Conversion Shares upon the closing of the Qualified Financing. The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest on a Note or Rollover Note to be converted on the date of conversion, by the Conversion Price. At least five (5) days prior to the closing of the Qualified Financing, the Company shall notify each holder of a Note or Rollover Note in writing of the terms under which the Equity Securities of the Company will be sold in such financing. Except with respect to the Conversion Price, the issuance of Conversion Shares pursuant to the conversion of each Note or Rollover Note shall otherwise be upon and subject to the same terms and conditions applicable to the Equity Securities sold in the Qualified Financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>No Fractional Shares</u>. Upon the conversion of a Note or Rollover Note into Conversion Shares, in lieu of any fractional shares to which the holder of the Note or Rollover Note would otherwise be entitled, the Company shall pay the Note or Rollover Note holder cash equal to such fraction multiplied by the Conversion Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Mechanics of Conversion</u>. The Company shall not be required to issue or deliver the Conversion Shares until the holder of a Note or Rollover Note has surrendered the applicable Note or Rollover Note, as applicable, to the Company. Such conversion may be made contingent upon the closing of the Qualified Financing.

3. <u>Mechanics of Closing</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Closing</u>. The initial closing (the "**Closing**") of the purchase of the Notes in return for the Consideration paid by each Lender and the purchase of the Rollover Notes in return for the Rollover Consideration exchanged by each Rollover Lender shall take place at the offices of Hutchison PLLC, 3110 Edwards Mill Road, Suite 300, Raleigh, NC 27612, at 10:00 a.m., on February 5, 2020, or at such other time and place as the Company and the Lenders purchasing a majority in interest of the aggregate principal amount of the Notes to be sold at the Closing agree upon orally or in writing. Documents may be delivered at the Closing by facsimile or other electronic means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Subsequent Closings</u>. In any subsequent closing (each a "**Subsequent Closing**"), the Company may sell additional Notes and Rollover Notes subject to the terms of this Agreement to any Lender or Rollover Lender as it shall select; provided that such sale shall not take place later than ninety (90) days after the Closing. Any subsequent purchasers of Notes or Rollover Notes shall become a party to, and shall be entitled to receive Notes or Rollover Notes, as applicable, in accordance with, this Agreement. Each Subsequent Closing shall take place at such locations and at such times as shall be mutually agreed upon orally or in writing by the Company and Lenders purchasing a majority in interest of the aggregate principal amount of the Notes to be sold at such Subsequent Closing. The **<u>Schedule of Lenders</u>** and the **<u>Schedule of Rollover Lenders</u>** shall be updated to reflect the additional Notes and Rollover Notes purchased at each Subsequent Closing and the parties purchasing such Notes and Rollover Notes and the amounts thereof. Documents may be delivered at the Subsequent Closing by facsimile or other electronic means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Closing Deliveries</u>. At the Closing and each Subsequent Closing:

&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 Lender shall deliver to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the Consideration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) one or more executed Notes; 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;(C) a Subordination Agreement, in substantially the form attached
hereto as  **<u>Exhibit C</u>** (the "**Subordination Agreement** "), duly executed by such Lender;

&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 deliver to each Lender one or more executed
Notes in return for the respective Consideration provided to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) each Rollover Lender shall deliver to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the Rollover Consideration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) one or more executed Rollover Notes; 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;(C) a Subordination Agreement, duly executed by such Rollover Lender; 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) the Company shall deliver to each Rollover Lender one or more executed Rollover Notes in return for the respective Rollover Consideration
provided to the Company.

4. <u>Representations and Warranties of the Company</u>. The Company hereby represents and warrants to each Lender and Rollover Lender that, except as set forth on the Disclosure Schedule separately delivered to the Lenders and Rollover Lenders in connection with this Agreement, which exceptions shall be deemed to be part of the representations and warranties made hereunder, the following representations are true and complete as of the date of the Closing, except as otherwise indicated. The Disclosure Schedule shall be arranged in sections corresponding to the numbered and lettered sections and subsections contained in this Section 4, and the disclosures in any section or subsection of the Disclosure Schedule shall qualify other sections and subsections in this Section 4 only to the extent it is readily apparent from a reading of the disclosure that such disclosure is applicable to such other sections and subsections.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Due Incorporation, Good Standing, Corporate Power and Qualification</u>. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify or be in good standing would have a material adverse effect on the business, assets (including intangible assets),liabilities, financial condition, property or results of operations of the Company (a "**Material Adverse Effect**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with the Qualified Financing, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the Notes and the Rollover Notes. Except as may be limited by applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors' rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected in the provisions of this Agreement, the Notes and the Rollover Notes the valid and enforceable obligations they purport to be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Compliance with Other Instruments</u>. The Company is not in violation or default of or under any (i) provision of its Certificate of Incorporation or Bylaws, (ii) instrument, judgment, order, writ or decree, (iii) note, indenture or mortgage, or (iv) lease, agreement, contract or purchase order to which it is a party or by which it is bound that is required to be listed on the Disclosure Schedule. To the Company's knowledge, it is not in violation of any provision of federal or state statute, rule or regulation applicable to the Company, the violation of which would have a Material Adverse Effect. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated by hereby will not result in any such violation or be in conflict with or constitute, with or without the passage of time and giving of notice, either (x) a default under or breach of any such provision, instrument, judgment, order, writ, decree, contract or agreement or (y) an event which results in the creation of any lien, charge or encumbrance upon any assets of the Company or the suspension, revocation, forfeiture or nonrenewal of any material permit or license applicable to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Valid Issuance of Capital Stock</u>. The Conversion Shares to be issued, sold and delivered upon conversion of the Notes and the Rollover Notes will be duly and validly authorized, issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lenders and Rollover Lenders in this Agreement, will be issued in compliance with all applicable federal and state securities laws.

5. <u>Representations and Warranties of the Lenders</u>. Each Lender and Rollover Lender hereby represents and warrants to the Company, severally and not jointly, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Authorization</u>. This Agreement constitutes such Lender or Rollover Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to the availability of specific performance, injunctive relief or other equitable remedies. Each Lender and Rollover Lender represents that it has full power and authority to enter into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Purchase Entirely for Own Account</u>. This Agreement is made with the Lender or the Rollover Lender in reliance upon the Lender or Rollover Lender's representation to the Company, which by the Lender or Rollover Lender's execution of this Agreement, such Lender or Rollover Lender hereby confirms, that the Notes, the Rollover Notes, the Conversion Shares, and any Common Stock issuable upon conversion of the Conversion Shares (collectively, the "**Securities**") will be acquired for investment for such Lender or Rollover Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender or Rollover Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, each Lender or Rollover Lender further represents that such Lender or Rollover Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Disclosure of Information</u>. Each Lender or Rollover Lender has had an opportunity to discuss the Company's business, management, financial affairs and the terms and conditions of the offering of the Securities with the Company's management and has had an opportunity to review the Company's facilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Investment Experience</u>. Each Lender or Rollover Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities. If other than an individual, each Lender or Rollover Lender also represents it has not been organized solely for the purpose of acquiring the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) <u>Accredited Investor</u>. Each Lender or Rollover Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the "**SEC**"), as presently in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) <u>Restricted Securities</u>. Each Lender or Rollover Lender understands that the Securities have not been, and will not be, registered under the Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Lender or the Rollover Lender's representations as expressed herein. Each Lender or Rollover Lender understands that the Securities are "restricted securities" under applicable U.S. federal and state securities laws and that, pursuant to these laws, each Lender or Rollover Lender must hold the Securities indefinitely unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Each Lender or Rollover Lender acknowledges that the Company has no obligation to register or qualify the Securities for resale. Each Lender or Rollover Lender further acknowledges that if an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the Securities and on requirements relating to the Company which are outside of the Lender or the Rollover Lender's control and which the Company is under no obligation and may not be able to satisfy.

6. <u>Defaults and Remedies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Events of Default</u>. The following events shall be considered Events of Default with respect to each Note or Rollover 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;(i) the Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note or the Rollover Note for more than thirty (30) days after the same shall 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;(ii) the Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation, or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all or any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation 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;(iii) within thirty (30) days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed, or within thirty (30) days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated; 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;(iv) the Company shall fail to observe or perform any other obligation to be observed or performed by it under this Agreement, the Notes or the Rollover Notes within thirty (30) days after written notice from the Majority Note Holders to perform or observe the obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Remedies</u>. Upon the occurrence of an Event of Default under Section 6(a) hereof, at the option and upon the declaration of the holder of a Note or Rollover Note, the entire unpaid principal and accrued and unpaid interest on such Note or Rollover Note shall, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and such holder may, immediately and without expiration of any period of grace, enforce payment of all amounts due and owing under such Note or Rollover Note and exercise any and all other remedies granted to it at law, in equity or otherwise.

7. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) <u>Legends</u>. It is understood that the Securities shall bear legends substantially in the following form (in addition to, or in combination with, any legend required by applicable federal and state securities laws and agreements relating to the transfer and/or voting of the Securities):

"THE SECURITIES REPRESENTED BY THIS CERTIFICATE, AND THE TRANSFER THEREOF, ARE SUBJECT TO THE RESTRICTION ON TRANSFER PROVISIONS OF THE BYLAWS OF THE COMPANY, A COPY OF WHICH IS ON FILE IN, AND MAY BE EXAMINED AT, THE PRINCIPAL OFFICE OF THE COMPANY"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) <u>Amendments and Waivers</u>. Except as set forth in Section 3(b), any provision of this Agreement, the Notes or the Rollover Note may be amended or may be waived (either generally or in a particular instance, and either retroactively or prospectively) only by the agreement of the Company and the Majority Note Holders; and the observance of any provision of this Agreement, the Notes or the Rollover Notes that is for the benefit of the Lenders or the Rollover Lenders may be waived, and any consent, approval or other action to be given or taken by the Lenders or the Rollover Lenders pursuant to this Agreement, the Notes or the Rollover Notes may be given or taken by the consent of the Majority Note Holders. Any waiver or amendment effected in accordance with this Section 7(b) shall be binding upon each party to this Agreement and any holder of any Note or Rollover Note purchased under this Agreement at the time outstanding and each future holder of all such Notes or Rollover Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>Effect of Amendment or Waiver</u>. Each Lender and Rollover Lender acknowledges that by the operation of Section 7(b) hereof, the Majority Note Holders will have the right and power to diminish or eliminate all rights of such Lender or Rollover Lender under this Agreement and each Note issued to such Lender or Rollover Note issued to such Rollover Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) <u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties (including transferees of any of the Notes); <u>provided</u>, <u>however</u>, that the Company may not assign its obligations under this Agreement without the written consent of the Majority Note Holders. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e) <u>Entire Agreement; Governing Law</u>. This Agreement, the Notes, the Rollover Notes and the other documents delivered pursuant hereto constitute the entire agreement among the Company, the Lenders and the Rollover Lenders with respect to the subject matter hereof and supersedes in their entirety all prior undertakings and agreements of the Company, the Lenders and the Rollover Lenders with respect to the subject matter hereof. This Agreement, the Notes and the Rollover Notes shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North Carolina (without reference to conflict of law provisions), as to all other matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (f) <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, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (g) <u>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (h) <u>Notices</u>. Unless otherwise provided herein, all notices required or permitted hereunder shall be in writing and deemed effectively given upon personal delivery or five (5) days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to (i) in the case of the Company, at 5025 West WT Harris Blvd, Suite A, Charlotte, NC 28269 with a required copy to Hutchison PLLC, Attn: John Rudd, 3110 Edwards Mill Road, Suite 300, Raleigh, NC 27612; (ii) in the case of a Lender, at the address shown opposite his, her or its respective name on the **<u>Schedule of Lenders</u>**; and (iii) in the case of a Rollover Lender, at the address shown opposite his, her or its respective name on the **<u>Schedule of Rollover Lenders</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i) <u>Counterparts</u>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (j) <u>Finder's Fee</u>. Each party represents that it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Each Lender and Rollover Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which such Lender or Rollover Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless the Lenders and the Rollover Lenders from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (k) <u>Agreement in Connection with Public Offering</u>. Each Lender and Rollover Lender agrees, in connection with the initial underwritten public offering of the Company's securities pursuant to a registration statement under the Securities Act: (i) not to sell, make short sale of, loan, grant any options for the purchase of or otherwise dispose of any of the Securities held by such Lender or Rollover Lender (other than those Securities included in the offering) without the prior written consent of the Company or the underwriters managing such initial underwritten public offering of the Company's securities for a period of 180 days from the effective date of such registration statement, which period may be extended upon the request of the underwriters for an additional period of up to fifteen (15) days if the Company issues or proposes to issue an earnings or other public release within fifteen (15) days of the expiration of the 180-day lockup period, and (ii) to execute any agreement reflecting clause (i) above as may be requested by the Company or the managing underwriters at the time of such offering.

The Lender or Rollover Lender agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriters of such offering which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested, by the Company or the underwriters of such offering, the Lender or Rollover Lender shall provide, within ten (10) days of such request, such information as may be required by the Company or such underwriters in connection with the completion of any public offering of the Company's securities pursuant to a registration statement filed under the Securities Act. The obligations described in this Section 7(k) shall not apply to a registration relating solely to employee benefits plans on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the Securities subject to the foregoing restriction until the end of the applicable period. The Lender or Rollover Lender agrees that any transferee of the Securities pursuant to this Agreement shall be bound by this Section 7(k).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (l) <u>Stockholder Agreements</u>. Each Lender and Rollover Lender understands and agrees that the conversion of the Notes or the Rollover Notes into Conversion Shares may require such Lender or Rollover Lender's execution of certain agreements in the form agreed to by investors in the Qualified Financing relating to the purchase and sale of such securities as well as registration, co-sale, rights of first refusal, rights of first offer and voting rights, if any, relating to such securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (m) <u>Exculpation Among Lenders and Rollover Lenders</u>. Each Lender and Rollover Lender acknowledges that it is not relying upon any person, firm, corporation or stockholder, other than the Company and its officers and directors in their capacities as such, in making its investment or decision to invest in the Company. Each Lender and Rollover Lender agrees that no other Lender or Rollover Lender, nor the respective controlling persons, officers, directors, partners, agents, stockholders or employees of any other Lender or Rollover Lender shall be liable for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase and sale of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (n) <u>Waiver of Senior Debtholders</u>. Each Lender and Rollover Lender, on behalf of itself and its affiliates, hereby (i) waives, with respect to the Notes and the Rollover Notes, the obligation of the Company under any other Convertible Note, Promissory Note or other similar instrument held by such Lender or Rollover Lender, or their respective affiliates (the "**Other Notes**"), to take all actions necessary in order for such Other Notes to continue to rank senior to all indebtedness of the Company; and (ii) agrees that the Notes and the Rollover Notes will rank pari passu in right of payment to the Other Notes.

*[Remainder of Page Intentionally Left Blank]*

 

IN WITNESS WHEREOF, the parties have entered into this Agreement as of the date first set forth above.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: |  |
|  | Michael Feldman, President & CEO |

---

T1V, Inc.

Signature Page to Note Purchase Agreement

---

| |
|:---|
| **LENDER AND ROLLOVER LENDER:** |
| Bobby Wooten |

---

**T1V, Inc.**

**Note Purchase Agreement**

**- Signature Page -**

---

| |
|:---|
| **LENDER AND ROLLOVER LENDER:** |
| Juanna Wooten |

---

**T1V, Inc.**

**Note Purchase Agreement**

**- Signature Page -**

---

| |
|:---|
| **LENDER:** |
| TAXIMUS, AG |
| By: |
| Name: |
| Title: |

---

**T1V, Inc.**

**Note Purchase Agreement**

**- Signature Page -**

<u> </u>

---

| |
|:---|
| **LENDER AND ROLLOVER LENDER:** |
| Edith Feldman |

---

**T1V, Inc.**

**Note Purchase Agreement**

**- Signature Page -**

---

| |
|:---|
| **LENDER AND ROLLOVER LENDER:** |
| Ross Annable |

---

**T1V, Inc.**

**Note Purchase Agreement**

**- Signature Page -**

---

| |
|:---|
| **LENDER** |
| Susan Morse |

---

**T1V, Inc.**

**Note Purchase Agreement**

**- Signature Page -**

---

| |
|:---|
| **LENDER AND ROLLOVER LENDER:** |
| Robert Wooten |

---

**T1V, Inc.**

**Note Purchase Agreement**

**- Signature Page -**

---

| |
|:---|
| **ROLLOVER LENDER:** |
| Michael Feldman |

---

**T1V, Inc.**

**Note Purchase Agreement**

**- Signature Page -**

**<u>SCHEDULE OF LENDERS</u>**

---

| | |
|:---|:---|
| **Lender Name and Address** | **Consideration** |
| Bobby Wooten <br>3821 Guinevere Lne <br>Winston Salem, NC 27104 | $25000.00 |
| Juanna Wooten <br>3821 Guinevere Lne <br>Winston Salem, NC 27104 | $25000.00 |
| Taximus, AG <br>Sandgrube 29 <br>Apenzell, Switzerland 9050 <br>Attn: Dieter Woelfle | $150000.00 |
| Edith Feldman <br>1106 Euclid Ave Apt 470 <br>Charlotte, NC 28203 | $100000.00 |
| Ross Annable <br>9870 Reedy Lane <br>Harrisburg, NC 28075 | $100000.00 |
| Susan Morse <br>[ADDRESS] | $50000.00 |
| Robert Wooten <br>4001-K Country Club Road Winston <br>Salem, NC 27104 | $50000.00 |
| **TOTAL:** | $**500000.00** |

---

**<u>SCHEDULE OF ROLLOVER LENDERS</u>**

---

| | | | |
|:---|:---|:---|:---|
| **Rollover Lender Name and Address** | **Current Balance<br> of Existing<br> Promissory Note** | **Rollover<br> Consideration** | **Remaining<br> Balance of<br> Existing<br> Promissory Note** |
| Bobby Wooten <br> 3821 Guinevere Lane <br> Winston Salem, NC 27104 | $11827.86 | $11827.86 | $0.00 |
| Juanna Wooten <br> 3821 Guinevere Lane <br> Winston Salem, NC 27104 | $11827.86 | $11827.86 | $0.00 |
| Edith Feldman <br> 1106 Euclid Ave Apt 470 <br> Charlotte, NC 28203 | $86805.48 | $86805.48 | $0.00 |
| Ross Annable <br> 9870 Reedy Lane <br> Harrisburg, NC 28075 | $159309.59 | $159309.59 | $0.00 |
| Robert Wooten <br> 4001-K Country Club Road <br> Winston Salem, NC 27104 | $41921.04 | $41921.04 | $0.00 |
| Michael Feldman <br> 5025 West WT Harris Blvd.,<br> Suite A Charlotte, NC 28269 | $78964.38 | $78964.38 | $0.00 |
| **TOTALS:** |  | $**390656.21** | $**0.00** |

---

**<u>Exhibit B</u>**

Affirmation of Subordination Agreement

**AFFIRMATION OF SUBORDINATION AGREEMENT**

THIS AFFIRMATION OF SUBORDINATION AGREEMENT (this "<u>Affirmation</u>") is made as of August 12, 2019, by the undersigned creditor ("<u>Creditor</u>") for the benefit of PACIFIC WESTERN BANK, a California state chartered bank ("<u>Bank</u>").

<u>RECITALS</u>

T1V, INC. ("<u>Client</u>") and Bank are parties to that certain Financing Agreement, dated as of August 12, 2015 (as amended from time to time, the "<u>Financing Agreement</u>"). Bank and Creditor are parties to that certain Subordination Agreement, dated as of August 12, 2015 (the "<u>Subordination Agreement</u>"), with respect to Client's issuance of debt securities to Creditor. Client and Bank propose to enter into that certain Fourth Amendment to Financing Agreement (the "<u>Amendment</u>") which, among other things, increases the Credit Limit under the Financing Agreement. Bank has agreed to enter into the Amendment, provided that, among other things, Creditor agrees that the Subordination Agreement will remain effective with respect to the Financing Agreement, as modified by the Amendment, and otherwise.

<u>AGREEMENT</u>

NOW, THEREFORE, Bank and Creditor agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Subordination Agreement shall remain in full force and effect with respect to all of Client's obligations to Bank under the Financing Agreement, as modified by the Amendment, and otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Bank and Creditor each affirm their respective obligations under the Subordination Agreement, and acknowledge that the Subordination Agreement shall continue in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Unless otherwise defined, capitalized terms in this Affirmation shall have the meaning assigned in the Subordination Agreement. This Affirmation may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument.

*[Signature Pages Follow]*

 

*T1V, Inc. – Affirmation of Subordination (T1 Investment) (August 2019) – Execution* 

 

IN WITNESS WHEREOF, the undersigned have executed this Affirmation of Subordination Agreement as of the first date above written.

"Bank"

---

| |
|:---|
| **PACIFIC WESTERN BANK** |
| By: |
| Name:<u> </u> |
| Title: |

---

*[Signatures Continue on Next Page]*

 

*T1V, Inc. – Affirmation of Subordination (T1 Investment) (August 2019) – Execution* 

 

"Creditor"

---

| |
|:---|
| **T1 INVESTMENT, LLC** |
| By: |
| Name:<u> </u> |
| Title: |

---

*[Signatures Continue on Next Page]*

 

*T1V, Inc. – Affirmation of Subordination (T1 Investment) (August 2019) – Execution*

 

The undersigned approves of the terms of this Affirmation of Subordination Agreement.

"Client"

---

| |
|:---|
| **T1V, INC.** |
| By: |
| Name:<u> </u> |
| Title: |

---

*T1V, Inc. – Affirmation of Subordination (T1 Investment) (August 2019) – Execution*

 

 

*B-5*

## Exhibit 4.8

**Exhibit 4.8**

**SECOND AMENDMENT TO CONVERTIBLE PROMISSORY NOTES**

This Second Amendment to Convertible Promissory Notes (this "**Amendment**") is made and entered into as of February 5, 2020 (the "**Effective Date**"), by and between T1V, Inc. (f/k/a T1Visions, Inc.), a Delaware corporation (the "**Company**"), and WH&W Private Market Investment Fund I, LLC (the "**Holder**").

**WITNESSETH:**

WHEREAS, the Company previously issued to the Holder (i) a Convertible Promissory Note dated September 27, 2013, as amended by the Amendment to Convertible Promissory Note, dated August 13, 2015 (the "**2013 Note**"), (ii) a Convertible Promissory Note dated March 10, 2014, as amended by the Amendment to Convertible Promissory Note dated August 13, 2015 (the "**2014 Note**") and (iii) a Convertible Promissory Note dated March 2, 2015, as amended by the Amendment to Convertible Promissory Note dated August 13, 2015 (the "**2015 Note**" and, together with the 2013 Note and the 2014 Note, the "**Notes**");

WHEREAS, the Company and the Holder desire to amend the Notes to provide that the Notes will be repayable as if converted under certain circumstances;

WHEREAS, the Company has entered into a Note Purchase Agreement, dated as of February 5, 2020 (the "**Purchase Agreement**"), pursuant to which the Company will issue one or more notes (the "**New Notes**"); and

WHEREAS, the Lender desires to waive, with respect to the New Notes, the obligation of the Company under the Notes to take all actions necessary in order for the Notes to continue to rank senior to all indebtedness of the Company.

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which hereby is acknowledged, the parties hereto agree as follows:

1. <u>Amendment of 2013 Note</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The preamble of the 2013 Note is hereby amended and restated in its entirety as follows:

"T1V, Inc., a Delaware corporation (the "**Company**"), promises to pay to WH&W Private Market Investment Fund I, LLC (the "**Lender**"), or its registered assigns, in lawful money of the United States of America the principal sum of $275,000.00, or such lesser amount as shall be equal to the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to 12% per annum until October 11, 2018 (such interest, the "**Convertible Interest**" and, together with the outstanding principal amount hereof, the "**Convertible Balance**") and at a rate equal to 6% per annum thereafter (such interest, the "**Nonconvertible Interest**"), computed on the basis of the actual number of days elapsed on a year of 365 days. Unless repaid pursuant to Section 5, the principal and accrued interest shall be due and payable by Borrower on demand by Lender made at any time. In the event Lender demands payment under this Note, the Company shall repay all outstanding principal and accrued interest over 2 years in 24 equal monthly payments of principal and interest. The outstanding principal balance shall continue to accrue interest during such repayment period and all such interest shall be amortized over such 24-month period."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) Section 1 of the 2013 Note is hereby amended and restated in its entirety as follows:

"1. <u>Interest</u>. Accrued interest on this Note shall be payable as set forth above. In the event that the 6% cumulative dividends payable on the Series B Preferred Stock under paragraph 1 of ARTICLE FOURTH, Part B of the Certificate of Incorporation of the Company, dated May 31, 2013 (as the same may be amended from time to time, the "**Certificate**"), are forgiven, cancelled or otherwise altered, the Nonconvertible Interest will be similarly forgiven, cancelled or altered."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) Section 2 of the 2013 Note is hereby amended and restated in its entirety as follows:

"2. <u>Payment</u>. Payment of principal, together with accrued interest, may not be made without the consent of the Lender at any time prior to the earlier to occur of: (a) a Qualifying Event (defined below); and (b) the Lender's refusal to execute a subordination agreement required in connection with a bank loan approved by the Board of Directors of the Company. The Company hereby waives demand, notice, presentment, protest and notice of dishonor."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) Section 5 of the 2013 Note is hereby amended and restated in its entirety as follows:

"5. <u>Repayment Upon Qualifying Event</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;(a) <u>Repayment Upon Deemed Liquidation Event or Stock Sale</u>. Upon the occurrence of a Deemed Liquidation Event (as defined in the Certificate) or a Stock Sale (as defined in the Voting Agreement, dated June 1, 2013, among the Company, Lender and the other parties named therein, as the same may be amended from time to time), the Company shall pay to Lender, in full satisfaction of this Note, an amount equal to (i) the Convertible Balance, plus (ii) the As-Converted Balance, plus (iii) the unpaid and accrued Nonconvertible Interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Repayment Upon Redemption</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the event the Company desires to effect a Redemption, the Company shall give written notice (the "**Offer Notice**") to Lender, stating: (A) its bona fide intention to consummate a Redemption; (B) the number of shares of Series B Preferred Stock to be redeemed as part of the Redemption; and (C) the price and terms, if any, upon which the Redemption will be consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) By notification to the Company within 20 days after the Offer Notice is given (the "**Redemption Notice**"), Lender may, but shall not be obligated to, participate in the Redemption as-if Lender had fully converted all or a portion of the Convertible Balance, up to the Maximum Amount, into shares of Series B Preferred Stock at a price per share of $84.40 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;&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) Lender shall specify in the Redemption Notice the portion of the Convertible Balance, if any, up to the Maximum Amount, Lender desires to be repaid as-if converted into shares of Series B Preferred Stock (the "**Redemption Amount**"). For the avoidance of doubt, Lender may not elect a Redemption Amount in excess of the Maximum 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Upon the consummation of the Redemption, the Company shall pay to Lender (I) in full satisfaction of the Redemption Amount, an amount equal to the product of (a) the price per share of Series B Preferred Stock paid by the Company to the holders of Series B Preferred Stock as part of such Redemption, multiplied by (b) the quotient of the Redemption Amount divided by $84.40, and (II) a portion of the unpaid and accrued Nonconvertible Interest equal to the total unpaid and accrued Nonconvertible Interest multiplied by a fraction, the numerator of which is the Redemption Amount, and the denominator of which is the Convertible Balance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of a Deemed Liquidation Event or Stock Sale, Lender agrees to deliver the original of this Note (or a notice to the effect that the original Note has been lost, stolen or destroyed and an agreement acceptable to the Company whereby the holder agrees to indemnify the Company from any loss incurred by it in connection with this Note) at the closing of the Deemed Liquidation Event or Stock Sale, as applicable, for cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Certain Definitions</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "**As-Converted Balance**" means the product of (A) (I) the Convertible Balance divided by $84.40, multiplied by (II) 1.6657, multiplied by (B) the amount per share to be received by holders of Common Stock on an as-converted, fully-diluted basis in connection with a Deemed Liquidation Event or Stock Sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Maximum Amount**" means the product obtained by multiplying (A) the Total Redemption Amount, by (B) a fraction, the numerator of which is the Convertible Balance divided by $84.40, and the denominator of which is the Series B Preferred Stock 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;&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) "**Qualifying Event**" means a Deemed Liquidation Event, a Stock Sale or a Redemption (to the extent the Lender elects to participate in such Redemption).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Total Redemption Amount**" means the aggregate number of shares of Series B Preferred Stock to be redeemed as part of the Redemption multiplied by the price per share to be paid by the Company in such Redemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Redemption**" shall mean a redemption by the Company of shares of Series B Preferred Stock for aggregate consideration of at least $2,000,000 in connection with the issuance by the Company of shares of its capital stock for aggregate consideration of at least $7,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Series B Preferred Stock Amount**" means an amount equal to (A) all shares of Series B Preferred Stock outstanding immediately prior to the consummation of the Redemption, plus (B) the aggregate Convertible Balance under the Notes divided by $84.40.

2. <u>Amendment of 2014 Note</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The preamble of the 2014 Note is hereby amended and restated in its entirety as follows:

"T1V, Inc., a Delaware corporation (the "**Company**"), promises to pay to WH&W Private Market Investment Fund I, LLC (the "**Lender**"), or its registered assigns, in lawful money of the United States of America the principal sum of $325,000.00, or such lesser amount as shall be equal to the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to 12% per annum until October 11, 2018 (such interest, the "**Convertible Interest**" and, together with the outstanding principal amount hereof, the "**Convertible Balance**") and at a rate equal to 6% per annum thereafter (such interest, the "**Nonconvertible Interest**"), computed on the basis of the actual number of days elapsed on a year of 365 days. Unless repaid pursuant to Section 5, the principal and accrued interest shall be due and payable by Borrower on demand by Lender made at any time. In the event Lender demands payment under this Note, the Company shall repay all outstanding principal and accrued interest over 2 years in 24 equal monthly payments of principal and interest. The outstanding principal balance shall continue to accrue interest during such repayment period and all such interest shall be amortized over such 24-month period."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) Section 1 of the 2014 Note is hereby amended and restated in its entirety as follows:

"1. <u>Interest</u>. Accrued interest on this Note shall be payable as set forth above. In the event that the 6% cumulative dividends payable on the Series B Preferred Stock under paragraph 1 of ARTICLE FOURTH, Part B of the Certificate of Incorporation of the Company, dated May 31, 2013 (as the same may be amended from time to time, the "**Certificate**"), are forgiven, cancelled or otherwise altered, the Nonconvertible Interest will be similarly forgiven, cancelled or altered."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) Section 2 of the 2014 Note is hereby amended and restated in its entirety as follows:

"2. <u>Payment</u>. Payment of principal, together with accrued interest, may not be made without the consent of the Lender at any time prior to the earlier to occur of: (a) a Qualifying Event (defined below); and (b) the Lender's refusal to execute a subordination agreement required in connection with a bank loan approved by the Board of Directors of the Company. The Company hereby waives demand, notice, presentment, protest and notice of dishonor."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) Section 5 of the 2014 Note is hereby amended and restated in its entirety as follows:

"5. <u>Repayment Upon Qualifying Event</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;(a) <u>Repayment Upon Deemed Liquidation Event or Stock Sale</u>. Upon the occurrence of a Deemed Liquidation Event (as defined in the Certificate) or a Stock Sale (as defined in the Voting Agreement, dated June 1, 2013, among the Company, Lender and the other parties named therein, as the same may be amended from time to time), the Company shall pay to Lender, in full satisfaction of this Note, an amount equal to (i) the Convertible Balance, plus (ii) the As-Converted Balance, plus (iii) the unpaid and accrued Nonconvertible Interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Repayment Upon Redemption</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the event the Company desires to effect a Redemption, the Company shall give written notice (the "**Offer Notice**") to Lender, stating: (A) its bona fide intention to consummate a Redemption; (B) the number of shares of Series B Preferred Stock to be redeemed as part of the Redemption; and (C) the price and terms, if any, upon which the Redemption will be consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) By notification to the Company within 20 days after the Offer Notice is given (the "**Redemption Notice**"), Lender may, but shall not be obligated to, participate in the Redemption as-if Lender had fully converted all or a portion of the Convertible Balance, up to the Maximum Amount, into shares of Series B Preferred Stock at a price per share of $84.40 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;&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) Lender shall specify in the Redemption Notice the portion of the Convertible Balance, if any, up to the Maximum Amount, Lender desires to be repaid as-if converted into shares of Series B Preferred Stock (the "**Redemption Amount**"). For the avoidance of doubt, Lender may not elect a Redemption Amount in excess of the Maximum 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Upon the consummation of the Redemption, the Company shall pay to Lender (I) in full satisfaction of the Redemption Amount, an amount equal to the product of (a) the price per share of Series B Preferred Stock paid by the Company to the holders of Series B Preferred Stock as part of such Redemption, multiplied by (b) the quotient of the Redemption Amount divided by $84.40, and (II) a portion of the unpaid and accrued Nonconvertible Interest equal to the total unpaid and accrued Nonconvertible Interest multiplied by a fraction, the numerator of which is the Redemption Amount, and the denominator of which is the Convertible Balance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of a Deemed Liquidation Event or Stock Sale, Lender agrees to deliver the original of this Note (or a notice to the effect that the original Note has been lost, stolen or destroyed and an agreement acceptable to the Company whereby the holder agrees to indemnify the Company from any loss incurred by it in connection with this Note) at the closing of the Deemed Liquidation Event or Stock Sale, as applicable, for cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Certain Definitions</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "**As-Converted Balance**" means the product of (A) (I) the Convertible Balance divided by $84.40, multiplied by (II) 1.6657, multiplied by (B) the amount per share to be received by holders of Common Stock on an as-converted, fully-diluted basis in connection with a Deemed Liquidation Event or Stock Sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Maximum Amount**" means the product obtained by multiplying (A) the Total Redemption Amount, by (B) a fraction, the numerator of which is the Convertible Balance divided by $84.40, and the denominator of which is the Series B Preferred Stock 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;&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) "**Qualifying Event**" means a Deemed Liquidation Event, a Stock Sale or a Redemption (to the extent the Lender elects to participate in such Redemption).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Total Redemption Amount**" means the aggregate number of shares of Series B Preferred Stock to be redeemed as part of the Redemption multiplied by the price per share to be paid by the Company in such Redemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Redemption**" shall mean a redemption by the Company of shares of Series B Preferred Stock for aggregate consideration of at least $2,000,000 in connection with the issuance by the Company of shares of its capital stock for aggregate consideration of at least $7,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Series B Preferred Stock Amount**" means an amount equal to (A) all shares of Series B Preferred Stock outstanding immediately prior to the consummation of the Redemption, plus (B) the aggregate Convertible Balance under the Notes divided by $84.40.

3. <u>Amendment of 2015 Note</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The preamble of the 2015 Note is hereby amended and restated in its entirety as follows:

"T1V, Inc., a Delaware corporation (the "**Company**"), promises to pay to WH&W Private Market Investment Fund I, LLC (the "**Lender**"), or its registered assigns, in lawful money of the United States of America the principal sum of $200,000.00, or such lesser amount as shall be equal to the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to 12% per annum until October 11, 2018 (such interest, the "**Convertible Interest**" and, together with the outstanding principal amount hereof, the "**Convertible Balance**") and at a rate equal to 6% per annum thereafter (such interest, the "**Nonconvertible Interest**"), computed on the basis of the actual number of days elapsed on a year of 365 days. Unless repaid pursuant to Section 5, the principal and accrued interest shall be due and payable by Borrower on demand by Lender made at any time. In the event Lender demands payment under this Note, the Company shall repay all outstanding principal and accrued interest over 2 years in 24 equal monthly payments of principal and interest. The outstanding principal balance shall continue to accrue interest during such repayment period and all such interest shall be amortized over such 24-month period."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) Section 1 of the 2015 Note is hereby amended and restated in its entirety as follows:

"1. <u>Interest</u>. Accrued interest on this Note shall be payable as set forth above. In the event that the 6% cumulative dividends payable on the Series B Preferred Stock under paragraph 1 of ARTICLE FOURTH, Part B of the Certificate of Incorporation of the Company, dated May 31, 2013 (as the same may be amended from time to time, the "**Certificate**"), are forgiven, cancelled or otherwise altered, the Nonconvertible Interest will be similarly forgiven, cancelled or altered."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) Section 2 of the 2015 Note is hereby amended and restated in its entirety as follows:

"2. <u>Payment</u>. Payment of principal, together with accrued interest, may not be made without the consent of the Lender at any time prior to the earlier to occur of: (a) a Qualifying Event (defined below); and (b) the Lender's refusal to execute a subordination agreement required in connection with a bank loan approved by the Board of Directors of the Company. The Company hereby waives demand, notice, presentment, protest and notice of dishonor."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) Section 5 of the 2015 Note is hereby amended and restated in its entirety as follows:

"5. <u>Repayment Upon Qualifying Event</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;(a) <u>Repayment Upon Deemed Liquidation Event or Stock Sale</u>. Upon the occurrence of a Deemed Liquidation Event (as defined in the Certificate) or a Stock Sale (as defined in the Voting Agreement, dated June 1, 2013, among the Company, Lender and the other parties named therein, as the same may be amended from time to time), the Company shall pay to Lender, in full satisfaction of this Note, an amount equal to (i) the Convertible Balance, plus (ii) the As-Converted Balance, plus (iii) the unpaid and accrued Nonconvertible Interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Repayment Upon Redemption</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the event the Company desires to effect a Redemption, the Company shall give written notice (the "**Offer Notice**") to Lender, stating: (A) its bona fide intention to consummate a Redemption; (B) the number of shares of Series B Preferred Stock to be redeemed as part of the Redemption; and (C) the price and terms, if any, upon which the Redemption will be consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) By notification to the Company within 20 days after the Offer Notice is given (the "**Redemption Notice**"), Lender may, but shall not be obligated to, participate in the Redemption as-if Lender had fully converted all or a portion of the Convertible Balance, up to the Maximum Amount, into shares of Series B Preferred Stock at a price per share of $84.40 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;&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) Lender shall specify in the Redemption Notice the portion of the Convertible Balance, if any, up to the Maximum Amount, Lender desires to be repaid as-if converted into shares of Series B Preferred Stock (the "**Redemption Amount**"). For the avoidance of doubt, Lender may not elect a Redemption Amount in excess of the Maximum 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Upon the consummation of the Redemption, the Company shall pay to Lender (I) in full satisfaction of the Redemption Amount, an amount equal to the product of (a) the price per share of Series B Preferred Stock paid by the Company to the holders of Series B Preferred Stock as part of such Redemption, multiplied by (b) the quotient of the Redemption Amount divided by $84.40, and (II) a portion of the unpaid and accrued Nonconvertible Interest equal to the total unpaid and accrued Nonconvertible Interest multiplied by a fraction, the numerator of which is the Redemption Amount, and the denominator of which is the Convertible Balance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of a Deemed Liquidation Event or Stock Sale, Lender agrees to deliver the original of this Note (or a notice to the effect that the original Note has been lost, stolen or destroyed and an agreement acceptable to the Company whereby the holder agrees to indemnify the Company from any loss incurred by it in connection with this Note) at the closing of the Deemed Liquidation Event or Stock Sale, as applicable, for cancellation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Certain Definitions</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "**As-Converted Balance**" means the product of (A) (I) the Convertible Balance divided by $84.40, multiplied by (II) 1.6657, multiplied by (B) the amount per share to be received by holders of Common Stock on an as-converted, fully-diluted basis in connection with a Deemed Liquidation Event or Stock Sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Maximum Amount**" means the product obtained by multiplying (A) the Total Redemption Amount, by (B) a fraction, the numerator of which is the Convertible Balance divided by $84.40, and the denominator of which is the Series B Preferred Stock 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;&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) "**Qualifying Event**" means a Deemed Liquidation Event, a Stock Sale or a Redemption (to the extent the Lender elects to participate in such Redemption).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Total Redemption Amount**" means the aggregate number of shares of Series B Preferred Stock to be redeemed as part of the Redemption multiplied by the price per share to be paid by the Company in such Redemption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Redemption**" shall mean a redemption by the Company of shares of Series B Preferred Stock for aggregate consideration of at least $2,000,000 in connection with the issuance by the Company of shares of its capital stock for aggregate consideration of at least $7,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Series B Preferred Stock Amount**" means an amount equal to (A) all shares of Series B Preferred Stock outstanding immediately prior to the consummation of the Redemption, plus (B) the aggregate Convertible Balance under the Notes divided by $84.40.

4. <u>Waiver of Senior Debtholders</u>. The Lender, on behalf of itself and its affiliates, hereby (i) waives, with respect to the New Notes, the obligation of the Company under Section 9(b) of the 2013 Note, Section 9(a) of the 2014 Note and Section 9(a) of the 2015 Note to take all actions necessary in order for the Notes to continue to rank senior to all indebtedness of the Company; and (ii) agrees that the New Notes will rank pari passu in right of payment to the Notes.

5. <u>Effect of Amendment</u>. Except as expressly amended hereby, the Notes shall be and remain in full force and effect.

6. <u>Governing Law</u>. The provisions of this Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to conflict of law provisions.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto cause this Amendment to be duly executed and effective as of the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, President & CEO |

---

---

| | |
|:---|:---|
| **HOLDER:** | **HOLDER:** |
| WH&W PRIVATE MARKET INVESTMENT FUND 1, LLC | WH&W PRIVATE MARKET INVESTMENT FUND 1, LLC |
| By: | Welch Hornsby, Inc |
| Its: | Manager |

---

---

| | |
|:---|:---|
| By: | /s/ Edward V. Welch, Jr. |
| Name: | Edward V. Welch, Jr. |
| Title: | President and CEO |

---

T1V, Inc.<br> Signature Page to<br> Second Amendment to Convertible Promissory Notes

## Exhibit 4.9

**Exhibit 4.9**

**THIS CONVERTIBLE PROMISSORY NOTE (THIS "NOTE") AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT, APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN JURISDICTION. THIS NOTE AND SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, RENOUNCED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR THE AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.**

**T1VISIONS, INC.**

**CONVERTIBLE PROMISSORY NOTE**

---

| |
|:---|
| $**March 02, 2015** |
| **Charlotte, NC** |

---

T1 Visions, Inc., a Delaware corporation (the **"Company"**) promises to pay to _xxxxxxxx (the "Lender"), or its registered assigns, in lawful money of the United States of America the principal sum of $ or such lesser amount as shall equal the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to 12% per annum, computed on the basis of the actual number of days elapsed and a year of 365 days. Unless earlier converted into shares of Series B Preferred (as defined below) pursuant to the terms of this Note, the principal and accrued interest shall be due and payable by Borrower on demand by Lender at any time. In the event Lender demands payment under this Note, the Company shall repay all outstanding principal and accrued interest over two years in twenty-four equal monthly payments. The outstanding principal balance shall continue to accrue interest during such repayment period and all such interest shall be amortized over the 24 month period.

1. <u>Interest</u>. Accrued interest on this Note shall be payable as set forth above.

2. <u>Payment</u>. Payment of principal, together with accrued interest, may not be made without the consent of the Lender at any time prior to the date six months and one day following the achievement of the Note Conversion Milestones (as defined below). The Company hereby waives demand, notice, presentment, protest and notice of dishonor.

3. <u>Security</u>. This Note is a general unsecured obligation of the Company.

4. <u>Priority</u>. This Note shall rank senior to all indebtedness except for all indebtedness of the Company arising under that certain Line of Credit (as amended and restated or modified from time to time (each a **"Senior Agreement"**) between the Company and First Citizens Bank or between the Company and Smith and Stone, LLC (each a **"Senior Creditor"**), whether existing on the date hereof or hereafter arising (the **"Senior Debt"**). This Note is subordinated in right of payment to all indebtedness of the Company arising under the Senior Agreement. The Company hereby agrees, and by accepting this Note the Lender hereby acknowledges and agrees, that so long as any Senior Debt remains outstanding, (i) upon notice from Senior Creditor to the Company and the Lender that an Event of Default, or any event which the giving of notice or the passage of time or both would constitute an Event of Default, has occurred under the terms of the Senior Agreement (a **"Default Notice"**), the Company shall not make, and the Lender shall not receive or retain, any payment made under this Note and, (ii) if any payment is made in violation of this paragraph, the Lender shall promptly deliver the same to Senior Creditor in the form received, with any endorsement or assignment necessary for the transfer of such payment from the Lender to Senior Creditor, to be either (in Senior Creditor's sole discretion) held as cash collateral securing the Senior Debt or applied in reduction of the Senior Debt and, until so delivered, the Lender shall hold such payment in trust as the property of Senior Creditor. Nothing in this paragraph shall preclude or prohibit the Lender from receiving and retaining any payment hereunder unless and until the Lender has received a Default Notice (which shall be effective until waived in writing by the Senior Creditor) or from converting this Note or any amounts due hereunder into shares of Series B Preferred of the Company.

5. <u>Conversion of the Note</u>. The Note shall be convertible according to the following terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Optional Conversion</u>. At any time prior to the date six months following the achievement of two consecutive quarters of positive EBITDA, (the Note Conversion Milestone), the principal and unpaid accrued interest of this Note may be converted, at the option of the Lender, in whole or in part, into shares of the Company's Series B Preferred Stock. The number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on a Note on the date of conversion by $84.40 per share (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Mechanics of Conversion</u>. Before the Lender shall be entitled to convert the same into Series B Preferred, the Lender shall give written notice to the Company of the election to convert this Note into Series B Preferred. The Company shall not be required to issue or deliver the Series B Preferred until the Lender has surrendered the Note to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Fractional Shares; Interest; Effect of Conversion</u>. No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Lender upon the conversion of this Note, the Company shall pay to the Lender an amount equal to the product obtained by multiplying the conversion price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of any amounts specified in this Section 5(d), the Company shall be forever released from all its obligations and liabilities under this Note.

6. <u>Representations and Warranties of the Company</u>. In connection with the transactions provided for herein, the Company hereby represents and warrants to the Lender that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Due Incorporation, Good Standing, Corporate Power and Qualification</u>. The Company is a corporation duly incorporated, validly existing, and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on the business, assets (including intangible assets), liabilities, financial condition, property or results of operations of the Company (a **"Material Adverse Effect"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with the Next Equity Financing, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Note. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected in the provisions of this Note, the valid and enforceable obligations they purport to be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Compliance with Other Instruments</u>. The Company is not in violation or default (i) of any provisions of its Certificate of Incorporation or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound, the violation of which would have a Material Adverse Effect, or, to its knowledge, of any provision of federal or state statute, rule or regulation applicable to the Company, the violation of which would have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Valid Issuance of Capital Stock</u>. The Series B Preferred to be issued, sold and delivered upon conversion of this Note will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lender in the Note, will be issued in compliance with all applicable federal and state securities laws.

7. <u>Representations and Warranties of the Lender</u>. In connection with the transactions provided for herein, the Lender hereby represents and warrants to the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Authorization</u>. This Note constitutes the Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to availability of specific performance, injunctive relief or other equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Purchase Entirely for Own Account</u>. The Lender acknowledges that this Note is issued to the Lender in reliance upon the Lender's representation to the Company that the Note will be acquired for investment for the Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Note, the Lender further represents that the Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Disclosure of Information</u>. The Lender acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire this Note. The Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Investment Experience</u>. The Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in this Note. If other than an individual, the Lender also represents it has not been organized solely for the purpose of acquiring this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Accredited Investor</u>. The Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission (the **"SEC"**) under the Securities Act of 1933, as amended (the **"Securities Act"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Restricted Securities</u>. The Lender understands that this Note is characterized as a "restricted security" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances. In this connection, each Lender represents that it is familiar with Rule 144 as promulgated by the SEC under the Securities Act, as presently in effect and understands the resale limitations imposed thereby and by the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Further Limitations on Disposition</u>. Without in any way limiting the representations and warranties set forth above, the Lender further acknowledges and agrees that this Note and the Series B Preferred issuable upon conversion hereof are subject to the provisions of the Company's Bylaws, including without limitation, all restrictions on transfer and rights of first refusal described in the Bylaws. The Lender may inspect the Bylaws at the Company's principal office.

8. <u>Defaults and Remedies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Events of Default</u>. The following events shall be considered Events of Default with respect to 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;(i) The Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note for more than 30 days after the same shall become due and payable, whether during the 24 month repayment period or by acceleration 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;(ii) The Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation, or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all of any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation 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;(iii) Within 30 days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed or, within 30 days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated; 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;(iv) The Company shall fail to observe or perform any other obligation to be observed or performed by it under this Note, or any other agreement with the Lender, within 30 days after written notice from the Lender to perform or observe the obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Remedies</u>. Upon the occurrence of an Event of Default under Section 8(a) hereof, at the option and upon the declaration of the Lender, the entire unpaid principal and accrued and unpaid interest on this Note shall, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and the Lender may, immediately and without expiration of any period of grace, enforce payment of all amounts due and owing under this Note and exercise any and all other remedies granted to it at law, in equity or otherwise.

9. **<u>Affirmative Covenants</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company covenants and agrees that it shall not (i) incur, or commit itself to incur, any secured indebtedness other than the Senior Debt or (ii) increase the amount of the Senior Debt without Lender's consent. The Company further covenants and agrees that it shall take all actions necessary in order for this Note to continue to rank senior to all indebtedness of the Company, whenever incurred, except for the Senior Debt.

10. **<u>Miscellaneous</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amendments and Waivers</u>. Any provision of this Note may be amended or may be waived (either generally or in a particular instance, and either retroactively or prospectively) only by the agreement of the Company and the Lender or its registered assigns; and the observance of any provision of this Note that is for the benefit of the Lender may be waived, and any consent, approval, or other action to be given or taken by the Lender pursuant to the Note may be given or taken only by the consent of the Lender or its registered assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Successors and Assigns</u>. Except as otherwise provided herein, the terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Note, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Entire Agreement; Governing Law</u>. This Note and the other documents delivered pursuant hereto constitutes the entire agreement between the Company and the Lender with respect to the subject matter hereof and supersedes in their entirety all prior undertakings and agreements of the Company and the Lender with respect to the subject matter hereof. This Note shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North Carolina (without reference to conflict of law provisions), as to all other matters

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Notices</u>. Unless otherwise provided herein, all notices required or permitted hereunder shall be in writing and deemed effectively given upon personal delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to (i) in the case of the Company, at 10430 Harris Oaks Boulevard, Suite F, Charlotte, NC 28269 with a required copy to Homesley & Wingo Law Group, PLLC, Attn: Clifton W. Homesley, 330 South Main Street, Mooresville, North Carolina 28115 or (ii) in the case of the Lender, at the address set forth on the signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>No Rights or Liabilities as a Stockholder</u>. This Note does not by itself entitle the Lender to any voting rights or other rights as a stockholder of the Company. In the absence of conversion of this Note, no provisions of this Note, and no enumeration herein of the rights or privileges of the Lender, shall cause the Lender to be a stockholder of the Company for any purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Finder's Fee</u>. Each party represents that, except for the Company's obligations pursuant to its current agreement with Scale Financing LLC, it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless Lender from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Officers and Directors not Liable</u>. In no event shall any officer or director of the Company be liable for any amounts due and payable pursuant to this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Severability</u>. If one or more provisions of this Note are held to be unenforceable under applicable law, such provision shall be excluded from this Note and the balance of the Note shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Note.

(j) <u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that the Lender shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the Preferred Stock of the Company which occur prior to

The Company has caused this Convertible Promissory Note to be issued as of the date first written above.

---

| | |
|:---|:---|
| **T1VISIONS, INC.** | **T1VISIONS, INC.** |
| By: |  |
|  | Mike Feldman, President |

---

---

| | |
|:---|:---|
| **ACKNOWLEDGED AND AGREED:** | **ACKNOWLEDGED AND AGREED:** |
| **LENDER** | **LENDER** |
| **By:** |  |
| **Its:** | **Manager** |

---

---

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

---

**Address:**

**T1Visions, Inc.**

**Convertible Promissory Note**

**- Signature Page -**

## Exhibit 4.10

**Exhibit 4.10**

**THIS CONVERTIBLE PROMISSORY NOTE (THIS "NOTE") AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT, APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN JURISDICTION. THIS NOTE AND SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, RENOUNCED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR THE AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.**

**T1VISIONS, INC.**

**CONVERTIBLE PROMISSORY NOTE**

---

| |
|:---|
| $**March 31, 2015** |
| **Charlotte, NC** |

---

T1 Visions, Inc., a Delaware corporation (the **"Company")** promises to pay to xxxxxxxxx (the "Lender"), or its registered assigns, in lawful money of the United States of America the principal sum of $ or such lesser amount as shall equal the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to 12% per annum, computed on the basis of the actual number of days elapsed and a year of 365 days. Unless earlier converted into shares of Series B Preferred (as defined below) pursuant to the terms of this Note, the principal and accrued interest shall be due and payable by Borrower on demand by Lender at any time. In the event Lender demands payment under this Note, the Company shall repay all outstanding principal and accrued interest over two years in twenty-four equal monthly payments. The outstanding principal balance shall continue to accrue interest during such repayment period and all such interest shall be amortized over the 24 month period.

1. <u>Interest.</u> Accrued interest on this Note shall be payable as set forth above.

2. <u>Payment.</u> Payment of principal, together with accrued interest, may not be
made without the consent of the Lender at any time prior to the date six months and one day following the achievement of the Note Conversion
Milestones (as defined below). The Company hereby waives demand, notice, presentment, protest and notice of dishonor.

3. <u>Security.</u> This Note is a general unsecured obligation of the Company.

4. <u>Priority</u>.
This Note shall rank senior to all indebtedness except for all indebtedness of the Company arising under that certain Line of Credit
(as amended and restated or modified from time to time (each a **"Senior Agreement"**) between
the Company and First Citizens Bank or between the Company and Smith and Stone, LLC (each a **"Senior Creditor"**), whether existing on the date hereof or hereafter arising (the **"Senior Debt"**). This Note is subordinated in right of payment to all indebtedness of the Company arising under the Senior Agreement.
The Company hereby agrees, and by accepting this Note the Lender hereby acknowledges and agrees, that so long as any Senior Debt remains
outstanding, (i) upon notice from Senior Creditor to the Company and the Lender that an Event of Default, or any event which the giving
of notice or the passage of time or both would constitute an Event of Default, has occurred under the terms of the Senior Agreement (a **"Default Notice"**), the Company shall not make, and the Lender shall not receive or retain, any payment made under this
Note and, (ii) if any payment is made in violation of this paragraph, the Lender shall promptly deliver the same to Senior Creditor in
the form received, with any endorsement or assignment necessary for the transfer of such payment from the Lender to Senior Creditor,
to be either (in Senior Creditor's sole discretion) held as cash collateral securing the Senior Debt or applied in reduction of the Senior
Debt and, until so delivered, the Lender shall hold such payment in trust as the property of Senior Creditor. Nothing in this paragraph
shall preclude or prohibit the Lender from receiving and retaining any payment hereunder unless and until the Lender has received a Default
Notice (which shall be effective until waived in writing by the Senior Creditor) or from converting this Note or any amounts due hereunder
into shares of Series B Preferred of the Company.

5. <u>Conversion of the Note.</u> The Note shall be convertible according to the following terms:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Optional Conversion.</u> At any time prior to the date six months following the achievement of two consecutive quarters of positive EBITDA, (the Note Conversion Milestone), the principal and unpaid accrued interest of this Note may be converted, at the option of the Lender, in whole or in part, into shares of the Company's Series B Preferred Stock. The number of such shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the outstanding principal and unpaid accrued interest due on a Note on the date of conversion by $84.40 per share (as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Mechanics of Conversion.</u> Before the Lender shall be entitled to convert the same into Series B Preferred, the Lender shall give written notice to the Company of the election to convert this Note into Series B Preferred. The Company shall not be required to issue or deliver the Series B Preferred until the Lender has surrendered the Note to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Fractional Shares; Interest; Effect of Conversion.</u> No fractional shares shall be issued upon conversion of this Note. In lieu of the Company issuing any fractional shares to the Lender upon the conversion of this Note, the Company shall pay to the Lender an amount equal to the product obtained by multiplying the conversion price by the fraction of a share not issued pursuant to the previous sentence. Upon conversion of this Note in full and the payment of any amounts specified in this Section 5(d), the Company shall be forever released from all its obligations and liabilities under this Note.

6. <u>Representations and Warranties of the Company.</u> In connection with the
 transactions provided for herein, the Company hereby represents and warrants to the Lender that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Due Incorporation, Good Standing, Corporate Power and Qualification</u>. The Company is a corporation duly incorporated, validly existing, and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as presently conducted and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on the business, assets (including intangible assets), liabilities, financial condition, property or results of operations of the Company (a **"Material Adverse Effect"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Authorization</u>. Except for the authorization and issuance of the shares issuable in connection with the Next Equity Financing, all corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Note. Except as may be limited by applicable bankruptcy, insolvency, reorganization, or similar laws relating to or affecting the enforcement of creditors' rights, the Company has taken all corporate action required to make all of the obligations of the Company reflected in the provisions of this Note, the valid and enforceable obligations they purport to be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Compliance with Other Instruments.</u> The Company is not in violation or default (i) of any provisions of its Certificate of Incorporation or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound, the violation of which would have a Material Adverse Effect, or, to its knowledge, of any provision of federal or state statute, rule or regulation applicable to the Company, the violation of which would have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Valid Issuance of Capital Stock</u>. The Series B Preferred to be issued, sold and delivered upon conversion of this Note will be duly and validly issued, fully paid and nonassessable and, based in part upon the representations and warranties of the Lender in the Note, will be issued in compliance with all applicable federal and state securities laws.

7. <u>Representations and Warranties of the Lender.</u> In connection with the transactions
provided for herein, the Lender hereby represents and warrants to the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Authorization.</u> This Note constitutes the Lender's valid and legally binding obligation, enforceable in accordance with its terms, except as may be limited by (i) applicable bankruptcy, insolvency, reorganization or similar laws relating to or affecting the enforcement of creditors' rights and (ii) laws relating to availability of specific performance, injunctive relief or other equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Purchase Entirely for Own Account.</u> The Lender acknowledges that this Note is issued to the Lender in reliance upon the Lender's representation to the Company that the Note will be acquired for investment for the Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Note, the Lender further represents that the Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Disclosure of Information.</u> The Lender acknowledges that it has received all the information it considers necessary or appropriate for deciding whether to acquire this Note. The Lender further represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Investment Experience.</u> The Lender is an investor in securities of companies in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in this Note. If other than an individual, the Lender also represents it has not been organized solely for the purpose of acquiring this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Accredited Investor.</u> The Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission (the **"SEC")** under the Securities Act of 1933, as amended (the **"Securities Act").**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Restricted Securities.</u> The Lender understands that this Note is characterized as a "restricted security" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances. In this connection, each Lender represents that it is familiar with Rule 144 as promulgated by the SEC under the Securities Act, as presently in effect and understands the resale limitations imposed thereby and by the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Further Limitations on Disposition.</u> Without in any way limiting the representations and warranties set forth above, the Lender further acknowledges and agrees that this Note and the Series B Preferred issuable upon conversion hereof are subject to the provisions of the Company's Bylaws, including without limitation, all restrictions on transfer and rights of first refusal described in the Bylaws. The Lender may inspect the Bylaws at the Company's principal office.

8. <u>Defaults and Remedies.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Events of Default.</u> The following events shall be considered Events of Default with respect to 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;(i) The Company shall default in the payment of any part of the principal or unpaid accrued interest on the Note for more than 30 days after the same shall become due and payable, whether during the 24 month repayment period or by acceleration 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;(ii) The Company shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file a voluntary petition for bankruptcy, or shall file any petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, dissolution or similar relief under any present or future statute, law or regulation, or shall file any answer admitting the material allegations of a petition filed against the Company in any such proceeding,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Entire Agreement; Governing Law.</u> This Note and the other documents delivered pursuant hereto constitutes the entire agreement between the Company and the Lender with respect to the subject matter hereof and supersedes in their entirety all prior undertakings and agreements of the Company and the Lender with respect to the subject matter hereof. This Note shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North Carolina (without reference to conflict of law provisions), as to all other matters

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Notices.</u> Unless otherwise provided herein, all notices required or permitted hereunder shall be in writing and deemed effectively given upon personal delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to (i) in the case ofthe Company, at 10430 Harris Oaks Boulevard, Suite F, Charlotte, NC 28269 with a required copy to Homesley & Wingo Law Group, PLLC, Attn: Clifton W. Homesley, 330 South Main Street, Mooresville, North Carolina 28115 or (ii) in the case of the Lender, at the address set forth on the signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>No Rights or Liabilities as a Stockholder.</u> This Note does not by itself entitle the Lender to any voting rights or other rights as a stockholder of the Company. In the absence of conversion of this Note, no provisions of this Note, and no enumeration herein of the rights or privileges of the Lender, shall cause the Lender to be a stockholder of the Company for any purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Finder's Fee.</u> Each party represents that, except for the Company's obligations pursuant to its current agreement with Scale Financing LLC, it neither is nor will be obligated for any finder's fee or commission in connection with this transaction. Lender agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which Lender or any of its officers, partners, employees or representatives is responsible. The Company agrees to indemnify and hold harmless Lender from any liability for any commission or compensation in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Officers and Directors not Liable.</u> In no event shall any officer or director of the Company be liable for any amounts due and payable pursuant to this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Severability.</u> If one or more provisions of this Note are held to be unenforceable under applicable law, such provision shall be excluded from this Note and the balance of the Note shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Acknowledgement</u>. In order to avoid doubt, it is acknowledged that the Lender shall be entitled to the benefit of all adjustments in the number of shares of Common Stock of the Company issuable upon conversion of the Preferred Stock of the Company which occur prior to or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of the Company, or of all of any substantial part of the properties of the Company, or the Company or its respective directors or majority stockholders shall take any action looking to the dissolution or liquidation 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;(iii) Within 30 days after the commencement of any proceeding against the Company seeking any bankruptcy reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed or, within 30 days after the appointment without the consent or acquiescence of the Company of any trustee, receiver or liquidator of the Company or of all or any substantial part of the properties of the Company, such appointment shall not have been vacated; 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;(iv) The Company shall fail to observe or perform any other obligation to be observed or performed by it under this Note, or any other agreement with the Lender, within 30 days after written notice from the Lender to perform or observe the obligation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Remedies.</u> Upon the occurrence of an Event of Default under Section 8(a) hereof, at the option and upon the declaration of the Lender, the entire unpaid principal and accrued and unpaid interest on this Note shall, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, be forthwith due and payable, and the Lender may, immediately and without expiration of any period of grace, enforce payment of all amounts due and owing under this Note and exercise any and all other remedies granted to it at law, in equity or otherwise.

9. <u>Affirmative Covenants.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company covenants and agrees that it shall not (i) incur, or commit itself to incur, any secured indebtedness other than the Senior Debt or (ii) increase the amount of the Senior Debt without Lender's consent. The Company further covenants and agrees that it shall take all actions necessary in order for this Note to continue to rank senior to all indebtedness of the Company, whenever incurred, except for the Senior Debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amendments and Waivers.</u> Any provision of this Note may be amended or may be waived (either generally or in a particular instance, and either retroactively or prospectively) only by the agreement of the Company and the Lender or its registered assigns; and the observance of any provision of this Note that is for the benefit of the Lender may be waived, and any consent, approval, or other action to be given or taken by the Lender pursuant to the Note may be given or taken only by the consent of the Lender or its registered assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Successors and Assigns.</u> Except as otherwise provided herein, the terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Note, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note.

The Company has caused this Convertible Promissory Note to be issued as of the date first written above.

---

| |
|:---|
| **TlVISIONS, INC.** |
| **xxxxxxxxxxxxxxxxxxxxxx** |

---

---

| | |
|:---|:---|
| **ACKNOWLEDGED AND AGREED:**<br>**LENDER** | **ACKNOWLEDGED AND AGREED:**<br>**LENDER** |
| **xxxxxxxxxxxxxxxx** | **xxxxxxxxxxxxxxxx** |
| By: | **xxxxxxxxxxxxxxxx** |
| Name: | **xxxxxxxxxxxxxxxx** |
| Title: | **xxxx** |

---

**T1Visions, Inc.**

**Convertible Promissory Note**

**- Signature Page -**

the conversion of the Note, including, without limitation, any increase in the number of shares of Common Stock issuable upon conversion as a result of a dilutive issuance of capital stock.

[*Remainder of Page Intentionally Left Blank*]

## Exhibit 4.11

**Exhibit 4.11**

**THIS CONVERTIBLE PROMISSORY NOTE (THIS "NOTE") AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT, APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN JURISDICTION. THIS NOTE AND SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, RENOUNCED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR THE AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.**

**T1V, INC.**

**CONVERTIBLE PROMISSORY NOTE**

$**February 5, 2020**

**Charlotte, NC**

T1V, Inc., a Delaware corporation (the "**Company**") promises to pay to xxxxxx (the "**Lender**"), or Lender's registered assigns, in lawful money of the United States of America the principal sum of $, or such lesser amount as shall equal the outstanding principal amount hereof, together with interest from the date of this Note on the unpaid principal balance at a rate equal to seven percent (7%) per annum, computed on the basis of the actual number of days elapsed and a year of 365 days. Unless earlier converted into Conversion Shares pursuant to Section 2(b) of that certain Note Purchase Agreement dated February 5, 2020 by and among the Company, Lender and certain other investors (the "**Purchase Agreement**"), the principal and accrued interest shall be due and payable by the Company on demand by the Lender at any time after the earlier of: (i) the Maturity Date and (ii) the closing of a Qualified Financing (each, a "Maturity Event"); provided, that in the event that the Lender demands payment under this Note at any time after a Maturity Event, the Company shall repay all outstanding principal and accrued interest over two years in twenty-four (24) consecutive equal monthly payments. In such event, the outstanding principal balance shall continue to accrue interest during such repayment period and all such interest shall be amortized over the twenty-four (24) month period.

This Note is one of a series of Notes issued pursuant to the Purchase Agreement, and capitalized terms not defined herein shall have the meaning set forth in the Purchase Agreement.

This Note is issued in full payment and satisfaction of that certain Convertible Promissory Note in principal amount of $6,857, dated January 22, 2014, issued by the Company in favor of the Lender.

1. <u>Interest</u>. Accrued interest on this Note shall be payable at maturity.

2. <u>Prepayment</u>. The Company may not prepay the principal, together with accrued interest, prior to the Maturity Date without the consent of the Majority Note Holders. For the avoidance of doubt, the Company may pay the principal, together with accrued interest, following the Maturity Date without the consent of the Majority Note Holders.

3. <u>Security</u>. This Note is a general unsecured obligation of the Company.

4. <u>Priority</u>. This Note is subordinated in right of payment to all indebtedness of the Company arising under that certain Financing Agreement, dated as of August 12, 2015, as amended and restated or modified from time to time, between the Company and Pacific Western Bank, as successor in interest to Square 1 Bank ("**Senior Creditor**"), pursuant to that certain Subordination Agreement, dated on or about the date hereof, among the Company, the Senior Creditor, the Lender and the other parties named therein.

5. <u>Conversion of the Notes</u>. This Note and any amounts due hereunder shall be convertible into Conversion Shares in accordance with the terms of Section 2(b) of the Purchase Agreement. As promptly as practicable after the conversion of this Note, the Company at its expense shall issue and deliver to the holder of this Note, upon surrender of the Note, a certificate or certificates for the number of full Conversion Shares issuable upon such conversion.

6. <u>Amendments and Waivers; Resolutions of Dispute; Notice</u>. The amendment or waiver of any term of this Note, the resolution of any controversy or claim arising out of or relating to this Note and the provision of notice shall be conducted pursuant to the terms of the Purchase Agreement.

7. <u>Successors and Assigns</u>. This Note applies to, inures to the benefit of and binds the successors and assigns of the parties hereto. Any transfer of this Note may be effected only pursuant to the Purchase Agreement and by surrender of this Note to the Company and reissuance of a new note to the transferee. The Lender and any subsequent holder of this Note receives this Note subject to the foregoing terms and conditions and agrees to comply with the foregoing terms and conditions for the benefit of the Company and any other Lenders.

8. <u>Officers and Directors not Liable</u>. In no event shall any officer or director of the Company be liable for any amounts due and payable pursuant to this Note.

9. <u>No Rights or Liabilities as a Stockholder</u>. This Note does not by itself entitle the Lender to any voting rights or other rights as a stockholder of the Company. In the absence of conversion of this Note, no provisions of this Note, and no enumeration herein of the rights or privileges of the Lender, shall cause the Lender to be a stockholder of the Company for any purpose.

10. <u>Titles and Subtitles</u>. The titles and subtitles used in this Note are used for convenience only and are not to be considered in construing or interpreting this Note.

11. <u>Usury</u>. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

12. <u>Waivers</u>. The Company hereby waives notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor and all other notices or demands relative to this instrument.

13. <u>Severability</u>. If one or more provisions of this Note are held to be unenforceable under applicable law, such provision(s) shall be excluded from this Note and the balance of the Note shall be interpreted as if such provision(s) were so excluded and shall be enforceable in accordance with its terms.

14. <u>Governing Law</u>. The provisions of this Note shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North Carolina (without reference to conflict of law provisions), as to all other matters.

*[Remainder of Page Intentionally Left Blank]*

 

 

The Company has caused this Convertible Promissory Note to be issued as of the date first written above.

---

| | |
|:---|:---|
| **T1V, INC.** | **T1V, INC.** |
| By: |  |
|  | Michael Feldman, President & CEO |

---

---

| |
|:---|
| **ACKNOWLEDGED AND AGREED:** |
| **LENDER** |

---

T1V, Inc.

Signature Page to Convertible Promissory Note

## Exhibit 4.12

**Exhibit 4.12**

**NO SALE, OFFER TO SELL OR TRANSFER OF THE SECURITY REPRESENTED BY THIS <br> PROMISSORY NOTE SHALL BE MADE UNLESS A REGISTRATION STATEMENT IS IN EFFECT <br> WITH RESPECT TO SUCH SECURITIES UNDER THE FEDERAL SECURITIES ACT OF 1933,<br> AS AMENDED, AND THE SECURITIES ARE APPROPRIATELY REGISTERED OR QUALIFIED UNDER <br> APPLICABLE STATE SECURITIES LAWS, OR EXEMPTION FROM THE APPLICABLE <br> REGISTRATION OR QUALIFICATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS ARE,<br> IN THE OPINION OF LEGAL COUNSEL, THEN APPLICABLE TO SUCH SECURITIES.**

PROMISSORY NOTE

---

| | |
|:---|:---|
| FIXED TERM CONVERTIBLE NOTE | Charlotte, North Carolina |
| Purchase Price $<u> </u> | _________________ |

---

Original Issue Discount $

Original Principal Amount $<u> </u>

FOR VALUE RECEIVED, T1V, Inc., a Delaware corporation (the "Company"), hereby promises to pay to the order of<u> </u> (an individual) with right of survivorship ("Payee"), the principal sum of<u> </u> Dollars ($<u> </u>) ("Principal"), together with interest as provided for herein.

This Promissory Note shall be subject to the following terms and conditions and the terms and conditions contained in the Loan Agreement, dated the date hereof, between the Company and Payee (the "Loan Agreement"):

SECTION 1

<u>Terms</u>

<u>Interest Rate</u>. The Company agrees to pay interest on the outstanding Principal from the date of this Promissory Note until the Principal has been paid in full and at a fixed rate per annum equal to ten percent (10.0%). Such interest shall be computed on the basis of actual days elapsed and a year of 365 days, payable in full on the Due Date in accordance with the Bridge Note.

<u>Payment Date</u>. The Company agrees that the entire outstanding Principal, together with all interest accrued thereon, shall be due and payable in lawful money of the United States of America in immediately available funds upon the earlier of (i) 12 months from closing; (ii) a subsequent capital raise of at least $5 million; or (iii) the first day the Company is traded as a public company on a national exchange including Nasdaq, NYSE, OTCQB or OTCQX ("Due Date"), unless this Promissory Note shall have been prepaid, upon presentation and surrender of this Promissory Note, duly endorsed in blank, at the principal office of the Company; *provided, however,* that the Principal and all accrued interest of this Promissory Note may be converted into securities of the Company, as provided in Section 2 hereof.

<u>Default</u>. If an Event of Default, as defined in the Loan Agreement, shall have occurred and be continuing, Payee may, at Payee's option, exercise any right, power or remedy permitted to it by law and shall have, in particular, without limitation on the foregoing, the right to declare the entire unpaid Principal of this Promissory Note and interest accrued thereon to be due and payable, without any presentment, demand, protest, or other notice of any kind, all of which are hereby expressly waived.

<u>Prepayment.</u> The Company may prepay the Principal of this Promissory Note in whole at any time without premium or penalty upon not less than fifteen (15) days advance written notice to Payees. The Company may prepay in whole or in part any interest due under the Promissory Note without notice.

<u>Related Promissory Notes</u>. This Promissory Note is one of a series of Promissory Notes (collectively, the "Notes"), all of which are substantively similar to this Promissory Note.

SECTION 2

<u>Convertibility</u>

<u>Optional Conversion</u>. At any time from two (2) months from the date hereof, Payee may elect to convert all of the then outstanding Principal and accrued but unpaid interest due under this Promissory Note into shares of Common Stock of the Company, $0.001 par value per share (the "Common Stock") by giving written notice of such election on or prior to the Due Date. The conversion price per share for the shares of Common Stock purchased by Payee pursuant to conversion of this Promissory Note shall equal: (i) for 25% of the amount of principal and interest:: a $17,500,000 valuation and (ii) For the remaining 75% of the amount of principal and interest: a 20% discount to the Initial Public Offering Price. (the "Conversion Price"). In lieu of issuing fractional shares, the Company shall pay all of the cash value of any fractional interest to Payee.

<u>Fair Market Value.</u> For purposes of this Section, "Fair Market Value" means (i) if the Common Stock is listed or admitted to unlisted trading privileges on any national securities exchange or is not so listed or admitted but transactions in the Common Stock are reported on the Nasdaq National Market, the reported closing price of the Common Stock on such exchange or by the Nasdaq National Market as of such date (or, if no shares were traded on such days, as of the next preceding day on which there was such a trade); or (ii) if the Common Stock is not so listed or admitted to unlisted trading privileges or reported on the Nasdaq National Market, and bid and asked prices therefore in the over-the-counter market are reported by the Nasdaq system or National Quotation Bureau, Inc. (or any comparable reporting system), the mean of the closing bid and asked prices as of such date, as so reported by the Nasdaq system, or, if not so reported thereon, as reported by National Quotation Bureau, Inc. (or such comparable reporting service); or (iii) if the Common Stock is not so listed or admitted to unlisted trading privileges, or reported on the Nasdaq National Market, and such bid and asked prices are not so reported by the Nasdaq system or National Quotation Bureau, Inc. (or any comparable reporting service), such price as the Company's Board of Directors determines in good faith in the exercise of its reasonable discretion.

<u>Mandatory Conversion</u>. At any time from and after two (2) months from the date hereof, or as of and from such earlier date as the Company's Board of Directors shall determine in its sole discretion, all of the then outstanding Principal and accrued but unpaid interest due under this Promissory Note shall automatically convert to Common Stock at the Conversion Price immediately prior to the occurrence of any of the following: i) a merger in which the shareholders of the Company prior to the merger hold less than 50% of the voting power of the capital stock of the surviving corporation after such merger, a sale of all of the assets of the Company or a transaction or series of transactions in which 50% or more of the voting power of the capital stock of the Company is transferred; or ii) the closing of an initial public offering of the Company's equity securities pursuant to an effective registration statement under the Securities Act of 1933, as amended. The Parties hereto acknowledge that the notes given to Evergreen Capital Management LLC do not contain a provision for mandatory conversion and such amounts have the potential to remain outstanding following the Company's Initial Public Offering.

SECTION 3

<u>Warrant Coverage</u>

The Company hereby issues to Payee a warrant to purchase a number of shares of Common Stock of the Company to be determined upon the consummation of the Company's Initial Public Offering with an exercise price equal to the Initial Public Offering price per share:

The form of any warrant issued pursuant to this Section 3 shall be the attached Exhibit A.

SECTION 4

<u>Miscellaneous</u>

Transferability. Other than pursuant to registration under federal and any applicable state securities laws or an exemption from such registration, this Promissory Note may not be sold, pledged, assigned, or otherwise disposed of (whether voluntarily or involuntarily) by Payee unless the Company receives from the transferee such representations and agreements as the Company may determine in its sole discretion to be necessary and appropriate to permit such transfer to be made pursuant to exemptions from registration under federal and applicable state securities laws. Each certificate representing this Promissory Note shall bear appropriate legends setting forth these restrictions on transfer.

<u>Benefit of Promissory Note</u>. This Promissory Note shall be binding upon, and shall inure to the benefit of and be enforceable by Payee and its successors and assigns.

<u>Costs</u>. The Company hereby waives presentment for payment, notice of dishonor, protest and notice of protest and, in the event this Promissory Note is not paid in full by the date required in Section 1, the Company shall pay all of Payee's costs of collection, including but not limited to, all reasonable attorneys' fees.

<u>Governing Law and Construction</u>. This Promissory Note shall be construed in accordance with and governed by the laws of the State of New York. Whenever possible, each provision of this Promissory Note and any other statement, instrument or transaction contemplated hereby and valid under such applicable law, but, if any provision of this Promissory Note or any other statement, instrument or transaction contemplated hereby or relating hereto shall be held to be prohibited or invalid under such applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Promissory Note or any other statement, instrument or transaction contemplated hereby or relating hereto. In the event of any conflict with, between or among the provisions of this Promissory Note or any other statement, instrument, or transaction contemplated or relating hereto those provisions giving Payee the greater right shall govern.

<u>Notices, Etc</u>. All notices, requests, consents and other communications hereunder to any party shall be deemed to be sufficient if contained in a written instrument delivered in person, sent by facsimile transmission to the telephone number as may hereinafter be designated by the recipient to the sender, or duly sent by first class registered or certified mail, return receipt requested, postage prepaid, addressed to such party at the address as may hereafter be designated by the addressee to the addresser. All such notices, advises and communications shall be deemed to have been received (a) in the case of personal delivery, on the date of such delivery, (b) in the case of facsimile transmission, on the date of transmission, and (c) in the case of mailing, on the third day after the posting thereof.

IN WITNESS WHEREOF, the Company has executed this Promissory Note as of the 28<sup>th</sup> day of February, 2022

---

| |
|:---|
| T1V, INC. |
| Michael Feldman |
| Chief Executive Officer |

---

## Exhibit 4.13

**Exhibit 4.13**

**EXHIBIT A**

**FORM OF WARRANT**

**THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE, TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS WARRANT MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY.**

**WARRANT TO PURCHASE SHARES OF STOCK**

---

| | |
|:---|:---|
| **Effective Date:** | ____________________________________ |
| **Company:** | T1Visions, Inc., a Delaware corporation |
| **Holder:** | [______________________________]] |
| **Exercise Period:** | **Commencing on the Effective Date and ending on the tenth anniversary thereof.** |

---

**This certifies that, for value received, Holder, or its registered assigns, is entitled, subject to the provisions and upon the terms and conditions set forth herein, to purchase from the Company, Shares (as defined below), in the amounts, at such times and at the price per share set forth in this Warrant. This Warrant is issued in connection with the transactions described in the Revenue Loan and Security Agreement dated as of July 1, 2015, by and among the Company and Decathlon Alpha II, L.P., to which Holder has joined as a party on the Effective Date (the "Loan Agreement"). Capitalized words and phrases used but not defined in this Warrant have the meanings given in the Loan Agreement.**

The following is a statement of the rights of the Holder and the conditions to which this Warrant is subject, and to which Holder, by acceptance of this Warrant, agrees:

**1. Definitions.**

**"Applicable Jurisdiction"** means Delaware.

**"Buyout Percentage"** means [__]%, subject to any adjustments as set forth in Section 2.

**"Change of Control"** means either (a) a merger or consolidation of Company with or into another entity, or other transaction, following which the stockholders of Company immediately prior to such transaction hold securities representing less than a majority of the voting power of the surviving entity or parent of the surviving entity immediately following such transaction, or (b) the sale, lease, license or other disposition of all or substantially all of Company's assets.

**"Common Stock Equivalents"** means shares of the Company's common stock, securities convertible or exercisable into common stock, or options or rights to purchase common stock or securities convertible or exercisable into common stock.

**"Exercise Price"** means $0.10 per Share, subject to adjustment pursuant this Warrant.

**"Gross Proceeds"** means the aggregate consideration directly or indirectly paid or payable to the Company and all shareholders, as well as holders of options, warrants, convertible securities, phantom equity and similar rights (collectively, "**Equity Owners**") in connection with or as a result of the Change of Control determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the case of a Change of Control involving the acquisition of equity securities, the Gross Proceeds shall include the total consideration paid or payable to Equity Owners (or the Company in the case of a new issuance), plus the total amount of consideration paid or payable on any outstanding indebtedness for borrowed money (including capitalized leases) of the Company in connection with the Change of Control (without duplication).

&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 the case of a Change of Control involving the acquisition of assets, the Gross Proceeds shall include the total consideration paid or payable for the assets acquired plus the amount of all assumed indebtedness for borrowed money (including capitalized leases) in connection with the Change of Control (without duplication).

&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 any Change of Control, the Gross Proceeds will include consideration paid or payable to the Company and its Equity Owners under covenants not to compete excluding reasonable amounts payable to employees pursuant to employment agreements and similar agreements; provided, however, that (i) such consideration is paid or payable directly to the Company or among all Equity Owners on a pro-rata basis and (ii) the Holder becomes a party to any agreement containing such covenants to the same extent as the Equity Owners.

&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) In any Change of Control, the Gross Proceeds will include the aggregate amount of (i) any dividends or distributions declared within 360 days of or in connection with the Change of Control (other than normal recurring cash dividends in amounts or for purposes consistent with past practice), and (ii) payments by the Company to repurchase any outstanding equity securities in connection with the Change of Control.

&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) In any Change of Control, the Gross Proceeds will include amounts payable pursuant to any earnout, royalty or similar arrangement. To the extent payment of any consideration is contingent, the fair market value of the contingent portion of the consideration shall be determined in good faith by Holder and the Company, taking into account the likelihood of payment, and include it in the Gross Proceeds.

&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 Gross Proceeds will be deemed to include all forms of consideration, including without limitation, cash and cash equivalents, promissory notes and other evidence of indebtedness, securities and other property. Consideration other than cash and cash equivalents will be valued as follows: (A) promissory notes and other evidence of indebtedness will be valued at face value; (B) common stock and securities convertible into common stock will be valued at fair market value (as determined in good faith by agreement of the Company and Holder); (C) preferred stock will be valued at fair market value (as determined in good faith by agreement of the Company and Holder); and (D) securities and property not referenced above will be valued at fair market value (as determined in good faith by agreement of the Company and Holder).

&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) If within 360 days of a Change of Control that does not result in the sale of all of the Company's assets or acquisition by one or more third parties of all of the Company's equity securities, the Company or its Equity Owners receive additional proceeds in connection with either (A) the sale of a substantial portion of the Company's assets as of the date the Change of Control occurred or (B) a third party's acquisition of all of the Company's equity securities, then such proceeds will be considered Gross Proceeds.

&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 Gross Proceeds will exclude costs or expenses paid to third-party advisors in connection with a Change of Control in an amount not exceed five percent (5%) of the aggregate consideration paid or payable to the Company and Equity Owners.

**"Shares"** means shares of the Company's common stock; provided, however, if in the event of a Change of Control, the Holder as a holder of the Company's common stock will not receive an amount equal to the sum of (x) the Buyout Percentage of the Gross Proceeds from a Change of Control plus (y) the Exercise Price, "Shares" shall mean shares of the series of the Company's preferred stock with the most senior liquidation preference which will result in the Holder after exercise of this Warrant receiving the sum of (x) the Buyout Percentage of the Gross Proceeds from a Change of Control, plus (y) the Exercise Price.

**"Warrant"** means this Warrant and any warrants delivered in substitution or exchange therefor as provided herein.

**2. Number of Shares.** Subject to any previous exercise of this Warrant, the Holder shall, upon exercise of this Warrant, have the right to receive a number of Shares that will result in the Holder receiving an amount equal to the Buyout Percentage of the Gross Proceeds from a Change of Control plus the Exercise Price. If the number of Common Stock Equivalents outstanding on the date of the exercise of this Warrant exceeds the number of Common Stock Equivalents outstanding on the Effective Date (subject to stock splits, reclassifications, reorganizations, or otherwise), the Buyout Percentage shall be reduced in accordance with the following formula:

BP<sub>A</sub>=BP<sub>B</sub> x [CE<sub>B</sub>/CE<sub>A</sub>]

Where:

BP<sub>A</sub> = Buyout Percentage after adjustment under this Section 2.

BP<sub>B</sub> = Initial Buyout Percentage set forth in Section 1.

CE<sub>A</sub> = Common Stock Equivalents outstanding immediately prior to the Change of Control.

CE<sub>B</sub> = Common Stock Equivalents outstanding as of the date hereof.

The following Common Stock Equivalents shall not be considered for the purpose calculating the CE<sub>A</sub>: (i) Common Stock Equivalents issued, directly or indirectly, for the purpose of diluting the Buyout Percentage; and (ii) exercisable securities of which the exercise price per share exceeds the per share consideration to be received if such securities were exercised immediately prior to the Change of Control.

**3. Exercise of the Warrant.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1 Exercise.** The purchase rights represented by this Warrant may be exercised at the election of the Holder in whole or in part by:

&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 tender to the Company at its principal office (or such other office or agency as the Company may designate) of a notice of exercise in the form of <u>Exhibit A</u> (the "Notice of Exercise"), duly completed and executed by or on behalf of the Holder, together with the surrender of this Warrant; 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;(ii) the payment to the Company of an amount equal to (x) the Exercise Price multiplied by (y) the number of Shares being purchased, by wire transfer or certified, cashier's or other check acceptable to the Company and payable to the order of the Company, surrender and cancellation of promissory notes or other instruments representing indebtedness of the Company to the Holder, or a combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2 Net Issue Exercise.** In lieu of exercising this Warrant pursuant to Section 3.1, if the aggregate amount that the Shares of Holder will receive from the Gross Proceeds is greater than the aggregate Exercise Price (at the date of calculation as set forth below) the Holder may elect to receive a number of Shares equal to the value of this Warrant (or of any portion of this Warrant being canceled) by surrender of this Warrant at the principal office of the Company (or such other office or agency as the Company may designate) together with a properly completed and executed Notice of Exercise reflecting such election, in which event the Company shall issue to the Holder that number of Shares computed using the following formula:

X = <u>Y (A – B)</u> <br> A

Where:

---

| | | |
|:---|:---|:---|
| X | = | The number of Shares to be issued to the Holder |
| Y | = | The number of Shares purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being canceled (at the date of such calculation) |
| A | = | The amount of Gross Proceeds received by one Share (at the date of such calculation) |
| B | = | The Exercise Price (as adjusted to the date of such calculation) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3 Stock Certificates.** The rights under this Warrant shall be deemed to have been exercised and the Shares issuable upon such exercise shall be deemed to have been issued immediately prior to the close of business on the date this Warrant is exercised in accordance with its terms, and the person entitled to receive the Shares issuable upon such exercise shall be treated for all purposes as the holder of record of such Shares as of the close of business on such date. As promptly as reasonably practicable on or after such date, the Company shall issue and deliver to the person or persons entitled to receive the same a certificate or certificates for that number of shares issuable upon such exercise. In the event that the rights under this Warrant are exercised in part and have not expired, the Company shall execute and deliver a new Warrant reflecting the number of Shares that remain subject to this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4 No Fractional Shares or Scrip.** No fractional shares or scrip representing fractional shares shall be issued upon the exercise of the rights under this Warrant. In lieu of such fractional share to which the Holder would otherwise be entitled, the Company shall make a cash payment equal to the Exercise Price multiplied by such fraction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5 Automatic Exercise or Purchase.** If the Holder of this Warrant has not elected to exercise this Warrant prior to the expiration of this Warrant pursuant to Section 8(i), then the Company shall, immediately prior to the closing of the Change of Control, pay to the Holder (without any act on the part of the Holder) the amount of securities and/or property (including cash) which the Holder would have been entitled to receive pursuant to such Change of Control if this Warrant had been exercised immediately prior to the effective date of such Change of Control; upon Holder's receipt of such payment this Warrant shall be automatically terminated in its entirety without any act on the part of the Holder, except to the extent that Holder may be entitled to additional payments pursuant to subpart (vii) of the definition of Gross Proceeds. If the Holder of this Warrant has not elected to exercise this Warrant prior to expiration of this Warrant pursuant to Section 8(ii), 8(iii) or 8(iv), then this Warrant shall automatically (without any act on the part of the Holder) be exercised pursuant to Section 3.2 effective immediately prior to the expiration of the Warrant to the extent such net issue exercise would result in the issuance of Shares, unless Holder earlier provides written notice to the Company that the Holder desires that this Warrant expire unexercised. If this Warrant is automatically exercised, the Company shall notify the Holder of the automatic exercise as soon as reasonably practicable, and the Holder shall surrender the Warrant to the Company in accordance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6 Reservation of Stock.** During the Exercise Period, the Company shall take all reasonable action to reserve and keep available from its authorized and unissued shares of common stock and preferred stock, if applicable, for the purpose of effecting the exercise of this Warrant such number of shares (and shares of common stock for issuance on conversion of such shares) as shall from time to time be sufficient to effect the exercise of the rights under this Warrant; and if at any time the number of authorized but unissued shares of common stock and preferred stock, if applicable, shall not be sufficient for purposes of the exercise of this Warrant in accordance with its terms and the conversion of the Shares, without limitation of such other remedies as may be available to the Holder, the Company will use all reasonable efforts to take such corporate action as may, in the opinion of counsel, be necessary to increase its authorized and unissued shares of its common stock and preferred stock, if applicable, (and shares of common stock for issuance on conversion of such shares) to a number of shares as shall be sufficient for such purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7 Replacement of the Warrant.** Subject to the receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor and amount.

**4. Transfer of the Warrant.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1 Warrant Register.** The Company shall maintain a register (the "Warrant Register") containing the name and address of the Holder or Holders. Until this Warrant is transferred on the Warrant Register in accordance herewith, the Company may treat the Holder as shown on the Warrant Register as the absolute owner of this Warrant for all purposes, notwithstanding any notice to the contrary. Any Holder of this Warrant (or of any portion of this Warrant) may change its address as shown on the Warrant Register by written notice to the Company requesting a change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2 Warrant Agent.** The Company may appoint an agent for the purpose of maintaining the Warrant Register referred to in Section 4.1, issuing the Shares or other securities then issuable upon the exercise of the rights under this Warrant, exchanging this Warrant, replacing this Warrant or conducting related activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Transferability of the Warrant.** Subject to the provisions of this Warrant with respect to compliance with the Securities Act of 1933, as amended (the "Securities Act") and limitations on assignments and transfers, including without limitation compliance with the restrictions on transfer set forth in Section 5, title to this Warrant may be transferred by endorsement (by the transferor and the transferee executing the assignment form attached as <u>Exhibit B</u> (the "Assignment Form")) and delivery in the same manner as a negotiable instrument transferable by endorsement and delivery. Notwithstanding anything herein to the contrary, in no event shall any Holder transfer this Warrant to any person which the Company's board of directors reasonably determines in good faith to be a competitor of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4 Exchange of the Warrant upon a Transfer.** On surrender of this Warrant (and a properly endorsed Assignment Form) for exchange, subject to the provisions of this Warrant with respect to compliance with the Securities Act and limitations on assignments and transfers, the Company shall issue to or on the order of the Holder a new warrant or warrants of like tenor, in the name of the Holder or as the Holder (on payment by the Holder of any applicable transfer taxes) may direct, for the number of shares issuable upon exercise hereof, and the Company shall register any such transfer upon the Warrant Register. This Warrant (and the securities issuable upon exercise of the rights under this Warrant) must be surrendered to the Company or its warrant or transfer agent, as applicable, as a condition precedent to the sale, pledge, hypothecation or other transfer of any interest in any of the securities represented hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5 Minimum Transfer.** This Warrant may not be transferred in part unless such transfer is to a transferee who, pursuant to such transfer, receives the right to purchase all of the Shares purchasable pursuant to this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6 Taxes.** In no event shall the Company be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of any certificate in a name other than that of the Holder, and the Company shall not be required to issue or deliver any such certificate unless and until the person or persons requesting the issue thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid or is not payable.

**5. Restrictions on Transfer of the Warrant and Shares; Compliance with Securities Laws.** By acceptance of this Warrant, the Holder agrees to comply with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1 Restrictions on Transfers.** The Holder may not transfer or assign this Warrant in whole or in part without providing the Company with 10 days prior written notice, and any attempt by Holder to transfer or assign any rights, duties or obligations that arise under this Warrant without such notice shall be void. Any transfer of this Warrant or the Shares or the shares of common stock issuable upon conversion of the Shares (the "**Securities**") must be in compliance with all applicable federal and state securities laws. The Holder agrees not to make any sale, assignment, transfer, pledge or other disposition of all or any portion of the Securities, or any beneficial interest therein, unless and until the transferee thereof has agreed in writing for the benefit of the Company to take and hold such Securities subject to, and to be bound by, the terms and conditions set forth in this Warrant to the same extent as if the transferee were the original Holder hereunder, and there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement, or (A) such Holder shall have given prior written notice to the Company of such Holder's intention to make such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition, (B) the transferee shall have confirmed to the satisfaction of the Company in writing that the Securities are being acquired (i) solely for the transferee's own account and not as a nominee for any other party, (ii) for investment and (iii) not with a view toward distribution or resale, and shall have confirmed such other matters related thereto as may be reasonably requested by the Company, and (C) if requested by the Company, such Holder shall have furnished the Company, at the Holder's expense, with an opinion of counsel, reasonably satisfactory to the Company, to the effect that such disposition will not require registration of such Securities under the Securities Act whereupon such Holder shall be entitled to transfer such Securities in accordance with the terms of the notice delivered by the Holder to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2 Investment Representation Statement.** Unless the rights under this Warrant are exercised pursuant to an effective registration statement under the Securities Act that includes the Shares with respect to which the Warrant was exercised, it shall be a condition to any exercise of the rights under this Warrant that the Holder shall have confirmed to the satisfaction of the Company in writing that the Shares so purchased are being acquired solely for the Holder's own account and not as a nominee for any other party, for investment and not with a view toward distribution or resale and that the Holder shall have confirmed such other matters related thereto as may be reasonably requested by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3 Securities Law Legend.** The Securities shall (unless otherwise permitted by the provisions of this Warrant) be stamped or imprinted with a legend substantially similar to the following (in addition to any legend required by state securities laws):

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**ACT**"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS CERTIFICATE MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4 Instructions Regarding Transfer Restrictions.** The Holder consents to the Company making a notation on its records and giving instructions to any transfer agent in order to implement the restrictions on transfer established in this Section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5 Removal of Legend.** The legend referring to federal and state securities laws identified in Section 5.3 stamped on a certificate evidencing the Shares (and the common stock issuable upon conversion thereof) and the stock transfer instructions and record notations with respect to such securities shall be removed and the Company shall issue a certificate without such legend to the holder of such securities if (i) such securities are registered under the Securities Act, or (ii) such holder provides the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a sale or transfer of such securities may be made without registration or qualification.

**6. Adjustments.** Subject to the expiration of this Warrant pursuant to Section 8, the number and kind of shares purchasable hereunder and the Exercise Price therefor are subject to adjustment from time to time, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 Merger or Reorganization.** If at any time there shall be any reorganization, recapitalization, merger or consolidation (a "**Reorganization**") involving the Company (other than as otherwise provided for herein or as would cause the expiration of this Warrant under Section 8) in which shares of the Company's stock are converted into or exchanged for securities, cash or other property, then, as a part of such Reorganization, lawful provision shall be made so that the Holder shall thereafter be entitled to receive upon exercise of this Warrant, the kind and amount of securities, cash or other property of the successor corporation resulting from such Reorganization, equivalent in value to that which a holder of the Shares deliverable upon exercise of this Warrant would have been entitled in such Reorganization if the right to purchase the Shares hereunder had been exercised immediately prior to such Reorganization. In any such case, appropriate adjustment (as determined in good faith by the board of directors of the successor corporation) shall be made in the application of the provisions of this Warrant with respect to the rights and interests of the Holder after such Reorganization to the end that the provisions of this Warrant shall be applicable after the event, as near as reasonably may be, in relation to any shares or other securities deliverable after that event upon the exercise of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 Notice of Adjustments.** Upon any adjustment in accordance with this Section 6, the Company shall give notice thereof to the Holder, which notice shall state the event giving rise to the adjustment, the Exercise Price as adjusted and the number of securities or other property purchasable upon the exercise of the rights under this Warrant, setting forth in reasonable detail the method of calculation of each. The Company shall, upon the written request of any Holder, furnish or cause to be furnished to such Holder a certificate setting forth (i) such adjustments, (ii) the Exercise Price at the time in effect and (iii) the number of securities and the amount, if any, of other property that at the time would be received upon exercise of this Warrant.

**7. Notification of Certain Events.** Prior to the expiration of this Warrant pursuant to Section 8, in the event that the Company shall authorize any transaction resulting in the expiration of this Warrant pursuant to Section 8, the Company shall send to the Holder of this Warrant at least ten (10) days prior written notice of the expected effective date of any such event. The notice provisions set forth in this section may be shortened or waived prospectively or retrospectively by the consent of the Holder of this Warrant.

**8. Expiration of the Warrant.** This Warrant shall expire and shall no longer be exercisable as of the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** The Closing of a Change of Control of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** The voluntary liquidation, dissolution or winding up of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** Immediately prior to the closing of a firm commitment underwritten initial public offering pursuant to an effective registration statement filed under the Securities Act covering the offering and sale of the Company's common stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)** Expiration of the Exercise Period.

**9. No Rights as a Stockholder.** Nothing contained herein shall entitle the Holder to any rights as a stockholder of the Company or to be deemed the holder of any securities that may at any time be issuable on the exercise of the rights hereunder for any purpose nor shall anything contained herein be construed to confer upon the Holder, as such, any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value or change of stock to no par value, consolidation, merger, conveyance or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or any other rights of a stockholder of the Company until the rights under the Warrant shall have been exercised and the Shares purchasable upon exercise of the rights hereunder shall have become deliverable as provided herein.

**10. Representations and Warranties of the Holder.** By acceptance of this Warrant, the Holder represents and warrants to the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1 No Registration.** The Holder understands that the Securities have not been, and will not be, registered under the Securities Act by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Holder's representations as expressed herein or otherwise made pursuant hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2 Investment Intent.** The Holder is acquiring the Securities for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, any distribution thereof. The Holder has no present intention of selling, granting any participation in, or otherwise distributing the Securities, nor does it have any contract, undertaking, agreement or arrangement for the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3 Investment Experience.** The Holder has substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company, and has such knowledge and experience in financial or business matters so that it is capable of evaluating the merits and risks of its investment in the Company and protecting its own interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4 Speculative Nature of Investment.** The Holder understands and acknowledges that the Company has a limited financial and operating history and that its purchase of this Warrant is highly speculative and involves substantial risks. The Holder can bear the economic risk of its investment and is able, without impairing its financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of its investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5 Access to Data.** The Holder has had an opportunity to ask questions of officers of the Company, which questions were answered to its satisfaction. The Holder believes that it has received all the information that it considers necessary or appropriate for deciding whether to acquire the Securities. The Holder understands that any such discussions, as well as any information issued by the Company, were intended to describe certain aspects of the Company's business and prospects, but were not necessarily a thorough or exhaustive description. The Holder acknowledges that any business plans prepared by the Company have been, and continue to be, subject to change and that any projections included in such business plans or otherwise are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6 Accredited Investor.** The Holder is an "accredited investor" within the meaning of Regulation D, Rule 501(a), promulgated by the Securities and Exchange Commission and agrees to submit to the Company such further assurances of such status as may be reasonably requested by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7 Residency.** The residency of the Holder (or, in the case of a partnership or corporation, such entity's principal place of business) is correctly set forth on the signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8 Restrictions on Resales.** The Holder acknowledges that the Securities must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available. The Holder is aware of the provisions of Rule 144 promulgated under the Securities Act, which permit resale of shares purchased in a private placement subject to the satisfaction of certain conditions, which may include, among other things, the availability of certain current public information about the Company; the resale occurring not less than a specified period after a party has purchased and paid for the security to be sold; the number of shares being sold during any three-month period not exceeding specified limitations; the sale being effected through a "broker's transaction," a transaction directly with a "market maker" or a "riskless principal transaction" (as those terms are defined in the Securities Act or the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder); and the filing of a Form 144 notice, if applicable. The Holder acknowledges and understands that the Company may not be satisfying the current public information requirement of Rule 144 at the time the Holder wishes to sell the Securities and that, in such event, the Holder may be precluded from selling the Securities under Rule 144 even if the other applicable requirements of Rule 144 have been satisfied. The Holder acknowledges that, in the event the applicable requirements of Rule 144 are not met, registration under the Securities Act or an exemption from registration will be required for any disposition of the Securities. The Holder understands that, although Rule 144 is not exclusive, the Securities and Exchange Commission has expressed its opinion that persons proposing to sell restricted securities received in a private offering other than in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales and that such persons and the brokers who participate in the transactions do so at their own risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9 No Public Market.** The Holder understands and acknowledges that no public market now exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company's securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.10 Brokers and Finders.** The Holder has not engaged any brokers, finders or agents in connection with the Securities, and the Company has not incurred nor will incur, directly or indirectly, as a result of any action taken by the Holder, any liability for brokerage or finders' fees or agents' commissions or any similar charges in connection with the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.11 Legal Counsel.** The Holder and the Company have both had the opportunity to review this Warrant, the exhibits and schedules attached hereto and the transactions contemplated by this Warrant with their respective legal counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.12 Tax Advisors.** The Holder and the Company have both independently reviewed with their respective tax advisors the U.S. federal, state and local and non-U.S. tax consequences of this investment and the transactions contemplated by this Warrant. With respect to such matters, each relies solely on any such advisors and not on any statements or representations of the Company or any of its agents, written or oral.

**11. Miscellaneous.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1 Amendments.** Except as expressly provided herein, neither this Warrant nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument referencing this Warrant and signed by the Company and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2 Waivers.** No waiver of any single breach or default shall be deemed a waiver of any other breach or default theretofore or thereafter occurring.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3 Notices.** All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile or electronic mail (if to the Holder) or otherwise delivered by hand, messenger or courier service addressed:

&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 to the Holder, to the Holder at the Holder's address or facsimile number as shown in the Company's records, as may be updated in accordance with the provisions hereof, or until any such Holder so furnishes an address, facsimile number, then to and at the address, facsimile number of the last holder of this Warrant for which the Company has contact information in its records; with a copy to Kevin Spreng, Fredrikson & Byron, P.A. 200 South Sixth Street, Minneapolis, MN 55402; 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;(ii) if to the Company, to the attention of the Chief Executive Officer of the Company at the Company's address as shown on the signature page hereto, or at such other address as the Company shall have furnished to the Holder.

All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day; (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. In the event of any conflict between the Company's books and records and this Warrant or any notice delivered hereunder, the Company's books and records will control absent fraud or error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4 Governing Law.** This Warrant and all actions arising out of or in connection with this Warrant shall be governed by and construed in accordance with the laws of the Applicable Jurisdiction, without regard to the conflicts of law provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.5 Jurisdiction and Venue.** If Holder initiates a claim in connection with any matter based upon or arising out of this Warrant or the matters contemplated herein, each of Holder and Company irrevocably consents to the exclusive jurisdiction and venue of any federal court within Charlotte, North Carolina, and agrees that process may be served upon them in any manner authorized by the laws of North Carolina for such persons. If the Company initiates a claim in connection with any matter based upon or arising out of this Warrant or the matters contemplated herein or therein, each of Holder and Company irrevocably consents to the exclusive jurisdiction and venue of any federal court within Palo Alto, California, and agrees that process may be served upon them in any manner authorized by the laws of California for such persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.6 Titles and Subtitles.** The titles and subtitles used in this Warrant are used for convenience only and are not to be considered in construing or interpreting this Warrant. All references in this Warrant to sections, paragraphs and exhibits shall, unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.7 Severability.** If any provision of this Warrant becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Warrant, and such illegal, unenforceable or void provision shall be replaced with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, unenforceable or void provision. The balance of this Warrant shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.8 Waiver of Jury Trial.** EACH OF THE HOLDER AND THE COMPANY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS WARRANT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.9 Rights and Obligations Survive Exercise of the Warrant.** Except as otherwise provided herein, the rights and obligations of the Company and the Holder under this Warrant shall survive exercise of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.10 Entire Agreement.** Except as expressly set forth herein, this Warrant (including the exhibits attached hereto) constitutes the entire agreement and understanding of the Company and the Holder with respect to the subject matter hereof and supersede all prior agreements and understandings relating to the subject matter hereof.

**The signature page follows.**

The Company and the Holder sign this Warrant as of the Effective Date.

---

| |
|:---|
| **T1VISIONS, INC.** |
| By: |
| Name: |
| Title: |
| Address: |
| 10430 Harris Oaks Boulevard, Suite F |
| Charlotte, North Carolina 28269 |
| Email address: |

---

**AGREED AND ACKNOWLEDGED,**

[________________________]

---

| |
|:---|
| By: |
| Name: |
| Title: |
| Address: |

---

Email address:  

**EXHIBIT A**

**NOTICE OF EXERCISE**

---

| | |
|:---|:---|
| **TO:** | **T1VISIONS, INC. (the "Company")** |
| **Attention:** | **Chief Executive Officer** |

---

**1. Exercise.** The undersigned elects to purchase the following pursuant to the terms of the attached warrant:

Number of shares: ______________________________________________________________________________ <br> Type of security: ______________________________________________________________________________

**2. Method of Exercise.** The undersigned elects to exercise the attached warrant pursuant to:

☐ A cash payment or cancellation of indebtedness, and tenders herewith payment of the purchase price for such shares in full, together with all applicable transfer taxes, if any.

☐ The net issue exercise provisions of Section 3.2 of the attached warrant.

**3. Stock Certificate.** Please issue a certificate or certificates representing the shares in the name of:

☐ The undersigned

☐ Other—Name: _____________________________________________________________________________ <br> Address: _____________________________________________________________________________ <br> _____________________________________________________________________________

**4. Unexercised Portion of the Warrant.** Please issue a new warrant for the unexercised portion of the attached warrant in the name of:

☐ The undersigned

☐ Other—Name: _____________________________________________________________________________ <br> Address: _____________________________________________________________________________ <br> _____________________________________________________________________________

☐ Not applicable

**5. Investment Intent.** The undersigned represents and warrants that the aforesaid shares are being acquired for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and that the undersigned has no present intention of selling, granting any participation in, or otherwise distributing the shares, nor does it have any contract, undertaking, agreement or arrangement for the same, and all representations and warranties of the undersigned set forth in Section 11 of the attached warrant are true and correct as of the date hereof.

---

| |
|:---|
| (Print name of the warrant holder) |
| (Signature) |
| (Name and title of signatory, if applicable) |
| (Date) |
| (Email address) |

---

**EXHIBIT B**

**ASSIGNMENT FORM**

---

| | |
|:---|:---|
| ASSIGNOR: | _____________________________________________________________________________________ |
| COMPANY: | T1VISIONS, INC. (THE "**COMPANY**") |

---

---

| | |
|:---|:---|
| WARRANT: | THE WARRANT TO PURCHASE SHARES OF STOCK HELD BY ASSIGNOR (THE "**WARRANT**") |

---

DATE: _________________________

**1. Assignment.** The undersigned registered holder of the Warrant ("**Assignor**") assigns and transfers to the assignee named below ("**Assignee**") all of the rights of Assignor under the Warrant:

Name of Assignee: _____________________________________________________________________________ <br> Address of Assignee: _____________________________________________________________________________ <br> _____________________________________________________________________________

and does irrevocably constitute and appoint ______________________ as attorney to make such transfer on the books of the Company, maintained for the purpose, with full power of substitution in the premises.

**2. Obligations of Assignee.** Assignee agrees to take and hold the Warrant and any shares of stock to be issued upon exercise of the rights thereunder (and any shares issuable upon conversion thereof) (the "**Securities**") subject to, and to be bound by, the terms and conditions set forth in the Warrant to the same extent as if Assignee were the original holder thereof.

**3. Investment Intent.** Assignee represents and warrants that the Securities are being acquired for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and that Assignee has no present intention of selling, granting any participation in, or otherwise distributing the shares, nor does it have any contract, undertaking, agreement or arrangement for the same, and all representations and warranties set forth in Section 11 of the Warrant are true and correct as to Assignee as of the date hereof.

Assignor and Assignee are signing this Assignment Form on the date first set forth above.

---

| | |
|:---|:---|
| **ASSIGNOR** | **ASSIGNEE** |
| (Print name of Assignor) | (Print name of Assignee) |
| (Signature of Assignor) | (Signature of Assignee) |
| (Print name of signatory, if applicable) | (Print name of signatory, if applicable) |
| (Print title of signatory, if applicable) | (Print title of signatory, if applicable) |
| (Address) | (Address) |

---

## Exhibit 4.14

**Exhibit 4.14**

**WARRANT FOR PURCHASE OF SHARES OF<br> CLASS A COMMON STOCK OF<br> T1v, INC.**

Date: [___], 2023

For value received, [______], or their registered assigns (the "<u>Holder</u>"), is entitled to purchase from T1V, Inc., a Delaware corporation (the "<u>Company</u>"), at any time on or before [___], 2025 the number of shares of the Company's Class A Common Stock, $0.001 par value (such class of stock being hereinafter referred to as the "<u>Class A Common Stock</u>" and such Class A Common Stock as may be acquired upon exercise hereof being hereinafter referred to as the "<u>Warrant Stock</u>"), calculated pursuant to Section 1 at the Warrant Exercise Price, as defined in Section 1.

This Warrant is subject to the following provisions, terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The number of shares of Warrant Stock purchasable under this Warrant (subject to adjustment as noted below) shall be a number of shares equal to [_________]. The exercise price shall initially be equal to $6.025, subject to the provisions of Section 4 (the "<u>Warrant Exercise Price</u>"). Notwithstanding the foregoing, upon the closing of the currently contemplated initial public offering of up to $16.5 million in units consisting of (i) one share of Class A Common Stock and (ii) a five-year warrant exercisable for one share of Class A Common Stock (the "IPO"), the Warrant Exercise Price shall be adjusted to be equal to the public offering price of the Company's Class A Common Stock in the IPO. For the avoidance of doubt, the foregoing adjustment to the Warrant Exercise Price will be without duplication of any adjustment to the Warrant Exercise Price pursuant to Section 4 for any adjustment of the Class A Common Stock (or any class of common stock into which the Class A Common Stock has been reclassified prior to such conversion), by forward split, or otherwise, occurring in connection with the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The rights represented by this Warrant may be exercised by the Holder, in whole or in part (but not as to a fractional share of Class A Common Stock), by either (i) written notice of exercise delivered to the Company accompanied by the surrender of this Warrant (properly endorsed if required) at the principal office of the Company and upon payment to it, by cash, certified check or bank draft, of the Warrant Exercise Price for such shares, or (ii) "<u>Cashless Exercise</u>," as defined and set forth below. The Company agrees that the Warrant Stock so purchased shall be and is deemed to be issued as of the close of business on the date on which this Warrant shall have been surrendered and payment (or cashless exercise) made for such Warrant Stock as aforesaid. Certificates for the shares of Warrant Stock so purchased shall be delivered to the Holder within 15 days after the rights represented by this Warrant shall have been so exercised, and, unless this Warrant has expired, a new Warrant representing the number of Warrant Stock, if any, with respect to which this Warrant has not been exercised shall also be delivered to the Holder within such time.

For the purpose of this Warrant, "<u>Cashless Exercise</u>" means as follows: In lieu of exercising this Warrant as described in clause (i) above, the Holder may, at any time prior to its expiration, elect to receive shares of Class A Common Stock equal to the value (as determined below) of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company, together with notice of such election (which notice shall include the number of shares for which the Warrant is being exercised), in which event the Company shall issue to the Holder a certificate representing that number of shares of Class A Common Stock ("**N**") determined based on the following formula:

N = ((A – B) / A) x number of warrants exercised

For purposes of this Section 2, "**A**" is the per-share fair market value of Warrant Stock on the exercise date (defined below as "<u>Fair Market Value</u>"), and "**B**" is the per-share Warrant Exercise Price. For purposes of this Section 2, "Fair Market Value" shall be as determined as follows: (i) if at the time of exercise the Company is subject to a merger, acquisition or other consolidation or an IPO (a "<u>Transaction</u>"), Fair Market Value will be the price per share for the Company's shares indicated in the Transaction, otherwise (ii) if the Class A Common Stock is publicly traded at the time of exercise, Fair Market Value will be the five (5) day VWAP on the trading day immediately preceding the date on which Holder elects to exercise this Warrant, (iii) if prior to the Class A Common Stock being publicly traded, the Company has sold shares of Class A Common Stock within 180 days prior to the exercise, Fair Market Value will be the per-share price of the most recent arm's-length third-party sale, otherwise; (iv) Fair Market Value will be determined in good faith by the Company's Board of Directors. If in accordance with (iv) above, the Holder and the Company disagree as to the Board of Directors' determination, Fair Market Value shall be determined by arbitration under the rules of the American Arbitration Association, at the Holder's expense.

For purposes of this Section 2, "<u>VWAP</u>" means, for any date, the price determined by the first of the following clauses that applies: (a) if the Class A Common Stock is then listed or quoted on a "national securities exchange," the daily volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on the trading market on which the Class A Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a trading day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if the Class A Common Stock is then quoted on the OTCQB or OTCQX, the volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Class A Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Class A Common Stock are then reported in the "Pink Sheets" published by OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Class A Common Stock so reported.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Company covenants and agrees that all shares of Warrant Stock that may be issued upon the exercise of this Warrant will, upon issuance, be duly authorized and issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issuance thereof. The Company further covenants and agrees that until expiration of this Warrant, the Company will at all times have authorized, and reserved for the purpose of issuance or transfer upon exercise of this Warrant, a sufficient number of shares of Class A Common Stock to provide for the exercise of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The foregoing provisions are, however, subject to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. The Warrant Exercise Price shall be subject to adjustment from time to time as hereinafter provided. Upon each adjustment of the Warrant Exercise Price, the holder of this Warrant shall thereafter be entitled to purchase, at the Warrant Exercise Price resulting from such adjustment, the number of shares obtained by multiplying the Warrant Exercise Price in effect immediately prior to such adjustment by the number of shares purchasable pursuant hereto immediately prior to such adjustment and dividing the product thereof by the Warrant Exercise Price resulting from such adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. In case the Company shall at any time subdivide the outstanding Class A Common Stock into a greater number of shares or declare a dividend payable in Class A Common Stock, the Warrant Exercise Price in effect immediately prior to such subdivision shall be proportionately reduced, and conversely, in case the outstanding Class A Common Stock shall be combined into a smaller number of shares, the Warrant Exercise Price in effect immediately prior to such combination shall be proportionately increased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. If any capital reorganization or reclassification of the capital stock of the Company, or consolidation or merger of the Company with another corporation, or the sale of all or substantially all of its assets to another corporation shall be effected in such a way that holders of Class A Common Stock shall be entitled to receive stock, securities or assets ("substituted property") with respect to or in exchange for such Class A Common Stock, then, as a condition of such reorganization, reclassification, consolidation, merger or sale, the Holder shall have the right to purchase and receive upon the basis and upon the terms and conditions specified in this Warrant and in lieu of the Class A Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby, such substituted property as would have been issued or delivered to the Holder if it had exercised this Warrant and had received upon exercise of this Warrant the Class A Common Stock prior to such reorganization, reclassification, consolidation, merger or sale. The Company shall not effect any such consolidation, merger or sale, unless prior to the consummation thereof the successor corporation (if other than the Company) resulting from such consolidation or merger or the corporation purchasing such assets shall assume by written instrument executed and mailed to the Holder at the last address of the Holder appearing on the books of the Company, the obligation to deliver to the Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, the Holder may be entitled to purchase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. Upon any adjustment of the Warrant Exercise Price, the Company shall give written notice thereof, by first-class mail, postage prepaid, addressed to the Holder at the address of the Holder as shown on the books of the Company, which notice shall state the Warrant Exercise Price resulting from such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of this Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. This Warrant shall not entitle the Holder to any voting rights or other rights as a shareholder of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. This Warrant shall be transferable only on the books of the Company by the Holder in person, or by duly authorized attorney, on surrender of the Warrant, properly assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Neither this Warrant nor any term hereof may be changed, waived, discharged or terminated orally but only by an instrument in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought.

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized officer and to be dated as of the date set forth above.

---

| |
|:---|
| T1V, INC |
| Michael Feldman |
| Chief Executive Officer |

---

THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR APPLICABLE STATE SECURITIES LAWS. THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, PLEDGED, ASSIGNED OR OTHERWISE DISPOSED OF, AND NO TRANSFER OF THE SECURITIES WILL BE MADE BY THE COMPANY OR ITS TRANSFER AGENT, IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

## Exhibit 5.1

**Exhibit 5.1**

---

| | |
|:---|:---|
| ![](ex5-1_001.jpg) | 1345 AVENUE OF THE AMERICAS, 11<sup>th</sup> FLOOR<br> NEW YORK, NEW YORK 10105<br> TELEPHONE: (212) 370-1300<br> FACSIMILE: (212) 370-7889<br> www.egsllp.com |

---

January 24, 2023

T1V, Inc.

5205 West WT Harris Boulevard, Suite A

Charlotte, NC 28269

---

| | |
|:---|:---|
| **Re:** | **Registration Statement on Form S-1** |

---

Ladies and Gentlemen:

We have acted as counsel to T1V, Inc. a Delaware corporation (the "**Company**"), in a public offering (the "Offering") pursuant to the Registration Statement on Form S-1 initially filed with the Securities and Exchange Commission (the "**Commission**") under the Securities Act of 1933, as amended (the "**Act**"), on January 24, 2023 (the "**Registration Statement**") of (i) units (the "**Units**"), each unit consisting of one share of the Company's Class A common stock, par value $0.001 per share (the "Class A **Common Stock**") and a warrant to purchase one share of Class A Common Stock (the "**Investor Warrants**"), including shares of Class A Common Stock and/or Investor Warrants issuable upon the exercise of an over-allotment option (the "**Over-Allotment Option**") granted by the Company and certain selling stockholders of the Company identified in the Registration Statement (the "**Selling Stockholders**") to the underwriters to purchase additional Units; and (ii) Representative's Warrants to purchase shares of Class A Common Stock (each a "**Representative's Warrant**") as contemplated by the Registration Statement; and (iii) shares of Class A Common Stock issuable upon exercise of the Investor Warrants and the Representative's Warrants, with a proposed maximum aggregate offering price of $48,831,149.

The Units are to be sold by the Company and (to the extent the Over-Allotment Option is exercised, by the Company and the Selling Stockholders) pursuant to an underwriting agreement (the "**Underwriting Agreement**") to be entered into by and between the Company and EF Hutton, division of Benchmark Investments, LLC on behalf of themselves and as representative to the several underwriters to be named therein. The securities are to be offered and sold in the manner described in the Registration Statement and the related prospectus included therein (the "**Prospectus**"). The Units will not be certificated. The shares of Class A Common Stock and related Investor Warrants are immediately separable and will be issued separately, but must be purchased together as a Unit in this Offering.

For purposes of rendering the opinions set forth below, we have examined such documents and reviewed such questions of law as we have considered necessary and appropriate for the purposes of our opinion including (i) the Registration Statement, including the exhibits filed therewith, (ii) the Prospectus, (iii) the Company's form of Amended and Restated Certificate of Incorporation, filed as Exhibit 3.1 to the Registration Statement, (iv) the Company's Form of Amendment to the Amended and Restated Certificate of Incorporation, filed as Exhibit 3.2 to the Registration Statement, (v) the Company's Form of Second Amended and Restated Certificate of Incorporation, filed as Exhibit 3.3 to the Registration Statement (vi) the Company's Form of Amended and Restated Bylaws, filed as Exhibit 3.4 to the Registration Statement, each of which will be in effect upon closing of the offering contemplated by the Registration Statement, (vii) the form of Underwriting Agreement, (viii) the form of Investor Warrant, (ix) the form of Warrant Agency Agreement, (x) the form of Representative's Warrant, and (xi) the corporate resolutions and other actions of the Company that authorize and provide for the filing of the Registration Statement, and we have made such other investigation as we have deemed appropriate. We have not independently established any of the facts so relied on.

We have further assumed the legal capacity of natural persons, and we have assumed that each party to the documents we have examined or relied on (other than the Company) has the legal capacity or authority and has satisfied all legal requirements that are applicable to that party to the extent necessary to make such documents enforceable against that party. We have also assumed that all of the shares of Class A Common Stock issuable or eligible for issuance pursuant to exercise of the Investor Warrants and Representative's Warrant following the date hereof will be issued for not less than par value. We express no opinion to the extent that, notwithstanding its current reservation of shares of Class A Common Stock, future issuances of securities, including the Class A Common Stock, of the Company and/or adjustments to outstanding securities, including the Investor Warrants and Representative's Warrants, of the Company may cause such warrants to be exercisable for more shares of Class A Common Stock than the number that remain authorized but unissued.

Based on the foregoing, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. <u>Units</u>**. When the Registration Statement becomes effective under the Act and when the offering is completed as contemplated by the Registration Statement, such Units will be legally binding obligations of the Company, enforceable in accordance with their terms except: (a) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally and by general equitable principles (regardless of whether enforceability is considered in a proceeding in equity or at law); (b) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws; (c) 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; and (d) we express no opinion as to whether a state court outside of the State of New York or a federal court of the United States would give effect to the choice of New York law provided for in the Warrant..

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Class A Common Stock</u>**. When the Registration Statement becomes effective under the Act and when the offering is completed as contemplated by the Registration Statement, the shares of Class A Common Stock will be validly issued, fully paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Investor Warrants</u>**. When the Registration Statement becomes effective under the Act and when the Investor Warrants underlying the Units are issued, delivered and paid for as part of the Units, as contemplated by the Registration Statement, such Investor Warrants will be legally binding obligations of the Company enforceable in accordance with their terms except: (a) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally and by general equitable principles (regardless of whether enforceability is considered in a proceeding in equity or at law); (b) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws; (c) 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; and (d) we express no opinion as to whether a state court outside of the State of New York or a federal court of the United States would give effect to the choice of New York law provided for in the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>Class A Common Stock underlying Investor Warrants</u>**: When the Registration Statement becomes effective under the Act and when the offering is completed as contemplated by the Registration Statement, the shares of Class A Common Stock issued upon exercise of the Investor Warrants will be validly issued, fully paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Representative's Warrant</u>**. When the Registration Statement becomes effective under the Act and when the Representative's Warrant is issued and delivered, as contemplated by the Registration Statement, such Representative's Warrant will be legally binding obligations of the Company enforceable in accordance with their terms except: (a) as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors' rights generally and by general equitable principles (regardless of whether enforceability is considered in a proceeding in equity or at law); (b) as enforceability of any indemnification or contribution provision may be limited under the federal and state securities laws; (c) 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; and (d) we express no opinion as to whether a state court outside of the State of New York or a federal court of the United States would give effect to the choice of New York law provided for in the Representative's Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. <u>Class A Common Stock underlying Representative's Warrant</u>**: When the Registration Statement becomes effective under the Act and when the offering is completed as contemplated by the Registration Statement, the shares of Class A Common Stock which are issued upon exercise of the Representative's Warrant will be validly issued, fully paid and non-assessable.

Our opinion herein is expressed solely with respect to the Delaware General Corporation Law of the State of Delaware and, as to the Units, Investor Warrants and the Representative's Warrants constituting legally binding obligations of the Company, solely with respect to the laws of the State of New York. Our opinion is based on these laws as in effect on the date hereof and as of the effective date of the Registration Statement, and we assume no obligation to revise or supplement this opinion after the effective date of the Registration Statement should the law be changed by legislative action, judicial decision or otherwise. Where our opinions expressed herein refer to events to occur at a future date, we have assumed that there will have been no changes in the relevant law or facts between the date hereof and such future date.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our firm under the caption "Legal Matters" in the Prospectus. In giving such permission, we do not admit hereby that we come within the category of persons whose consent is required under Section 7 of the Act, or the rules and regulations of the Commission thereunder.

Very truly yours,

---

| |
|:---|
| */s/ Ellenoff Grossman & Schole LLP* |
| Ellenoff Grossman & Schole LLP |

---

## Exhibit 10.1

**Exhibit 10.1**

**<u>EXECUTIVE EMPLOYMENT AGREEMENT</u>**

**THIS EXECUTIVE EMPLOYMENT AGREEMENT** (this "<u>Agreement</u>") is made as of , 2023, and entered into by and between T1V, Inc. (the "<u>Company</u>"), and Michael Feldman (the "<u>Executive</u>") (each a "<u>Party</u>," or, collectively, the "<u>Parties</u>") to be effective as of the date of the consummation of the Company's initial public offering of common stock (the "IPO Effective Date").

**WHEREAS**, the Company has employed the Executive and wishes to continue to employ him on the terms set forth in this Agreement; and

**WHEREAS**, Executive wishes to remain employed on the terms set forth herein.

**NOW, THEREFORE,** in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:

**1. <u>Past Agreements/Employment Term.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a)** All past agreements of employment, oral or written, between the Company and Executive, shall, as of the IPO Effective Date, terminate and be of no further force or effect. For the avoidance of doubt, it is expressly stated that Executive remains entitled to any deferred wages, salary, bonuses or other cash compensation, any unreimbursed expenses, and any grants of equity or options, to which Executive became entitled under any past employment agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b)** The Company agrees to employ the Executive "at will" pursuant to the terms of this Agreement and the Executive agrees to be so employed. Nothing in this Agreement is intended to create a promise or representation of continued employment or employment for a fixed period of time. The period of time between the IPO Effective Date and the termination of the Executive's employment shall be referred to as the "<u>Term</u>."

**2. <u>Position and Duties.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Title.</u>** The Company hereby agrees to continue to employ the Executive to serve as the President and Chief Executive Officer of the Company, subject to the power of the Board of Directors of the Company (the "<u>Board</u>") to expand, limit or otherwise alter such duties, responsibilities, title, position and authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Reporting Relationships and Duties.</u>** The Executive shall: (i) report to the Board; and (ii) be responsible for managing the business of the Company and shall have all duties, authorities, and responsibilities commensurate with those of persons in similar capacities in similarly sized companies, and such other duties, authorities, and responsibilities as may reasonably be assigned to the Executive by the Board. Additionally, if nominated to serve as a director of the Company, or of any Company affiliate, Executive shall accept such nomination and, if elected, shall serve as a director for no additional compensation beyond what is provided under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Full-Time Commitment/Policies</u>.** Throughout the Executive's employment, the Executive shall devote substantially all of his professional time to the performance of his duties of employment with the Company (except as otherwise provided herein) and shall faithfully and industriously perform such duties. The Executive will be required to comply with all Company policies as may exist and be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Executive Representations.</u>** The Executive represents and warrants to the Company that he is under no obligations or commitments, whether contractual or otherwise, that are inconsistent with his obligations under this Agreement. The Executive represents and warrants that he will not use or disclose, in connection with his employment by the Company, any trade secrets, proprietary information, or intellectual property in which any other person has any right, title or interest and that his employment by the Company as contemplated by this Agreement will not infringe or violate the rights of any other person.

**3. <u>Compensation and Benefits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Base Salary.</u>** In consideration for his work under the terms of this Agreement, the Company shall pay to the Executive a base salary at a rate of $200,000 (two hundred thousand Dollars) per year ("<u>Base Salary</u>") in arrears on the last day of each month of the Term, or more frequently, in accordance with the regular payroll practices of the Company. The Base Salary shall be subject to such deductions and withholdings as are required by law and otherwise elected by the Executive. If the Term ends other than on the last day of a month the last salary payment shall be pro-rated based on the number of days in the month that have passed as of the date of termination. The Base Salary shall be reviewed annually by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***b)* <u>Quarterly Bonus.</u>** In addition to the Base Salary, Executive will be eligible for a discretionary incentive bonus for each fiscal quarter of the Company. Whether the Executive is awarded any bonus for a given fiscal quarter, and the amount of the bonus (if any), will be determined by the Board in its sole discretion based on the Company's achievement of objective or subjective criteria established by the Board. The bonus for a given fiscal quarter will be paid within forty-five (45) days after the close of that fiscal quarter, and the Executive must remain actively employed by the Company at the time of payment in order to earn the bonus for that fiscal quarter. The determination of the Board with respect to the Executive's bonus will be final and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Stock-Based Compensation Awards.</u>** The Company may, from time to time and in its sole and absolute discretion, grant Executive stock based compensation awards subject to the terms of the T1V, Inc. 2023 Equity Incentive Plan (the "<u>Equity Plan</u>"). Executive shall be responsible for all income taxes imposed as a result of such grants except the Company's share of FICA taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Benefits.</u>** Executive shall be eligible for any fringe benefits offered by the Company on the same terms and conditions as other executives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Paid Time Off.</u>** Executive shall be entitled to paid vacation days and paid sick days in accordance with the Company's policies. Executive shall also be entitled to paid time off on holidays recognized by the Company. The Company shall not pay Executive for accrued and unused vacation or sick days when Executive's employment terminates for any reason.

**4. <u>Termination of Employment.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Notice of Termination.</u>** A party may terminate Executive's employment by giving written notice of such termination in accordance with the notice provisions of this Agreement. Termination will become effective upon a party's receipt of notice of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Termination for Any Reason.</u>** In the event the Executive's employment terminates for any reason, then: (i) the Company shall pay to the Executive the Base Salary earned through the date of termination; (ii) the Company shall reimburse the Executive for any expenses incurred through the date of termination for which the Executive is entitled to reimbursement; (iii) the Executive's rights under any benefit plans, programs, or arrangements of the Company shall be determined in accordance with the provisions thereof; and (iv) any stock-based compensation grants shall be governed by the terms of the Equity Plan or any other deferred compensation plan that applies to such stock-based compensation. The items in subparagraphs (i) – (iv) are referred to hereinafter as the "<u>Accrued Amounts</u>." For the avoidance of doubt, in the event that the Executive's employment is terminated by the Company without Cause, or Executive resigns for Good Reason, then Executive will be entitled, without duplication, to the additional amounts as set forth in, and pursuant to the term of, <u>Section 3(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Termination Without Cause, Resignation for Good Reason</u>**. In the event the Executive's employment is terminated by the Company without Cause, or Executive resigns for Good Reason, then the Company shall provide the Executive with: (i) the Accrued Amounts; (ii) severance pay in the form of twelve months' base salary paid over a twelve-month period and reimbursement of group health insurance premiums for twelve months if Executive is eligible to continue Executive's group health benefits under COBRA or any state law equivalent and elects to do so ("<u>Severance Pay</u>"). Executive's receipt of Severance Pay is subject to: (x) Executive's written resignation from any officer positions, but not from the Board, effective within five (5) days after Executive's employment terminates; and (y) the Executive's execution and delivery of a release of claims in favor of the Company, its affiliates, and their respective agents, officers, and directors, in the form annexed hereto as <u>Exhibit "A"</u> (the "<u>Release</u>") and such Release becoming effective within forty-five (45) days following the Termination Date (such 45-day period, the "<u>Release Execution Period</u>"). Severance payments will be made beginning seven (7) days after any revocation period in the Release has expired and the first such payment shall include all payments that would have occurred had the Release become effective on the date Executive's employment terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Cause</u>**. The term "<u>Cause</u>" means Executive's: (i) gross and willful misconduct in connection with the performance of his duties and responsibilities; (ii) commission of fraud or embezzlement in connection with his duties hereunder; (iii) material misrepresentation or a material act of dishonesty in connection with his duties hereunder; (iv) conviction of, or a plea of guilty or nolo contendere to, a felony, or a misdemeanor involving moral turpitude; (v) willful and repeated refusal or failure to follow specific, lawful, directions of the Board that are consistent with his position and this Agreement; or (v) the Company's reasonable determination that Executive has engaged in: (a) unlawful discriminatory harassment of an employee; (b) unlawful retaliation against an employee for exercising rights protected under applicable law, or (c) the material breach of this Agreement that causes material damage to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Notice and Cure of Cause Condition</u>**. Except for a failure, breach, or refusal which, by its nature, is not reasonably susceptible of cure, the Executive shall have thirty (30) calendar days from the delivery of written notice by the Company, which notice shall describe in reasonable detail the conduct alleged to constitute Cause, within which to cure any acts constituting Cause. The Company may place the Executive on paid leave for up to forty (40) days while it is determining whether there is a basis to terminate the Executive's employment for Cause. The Executive shall continue to be entitled to all compensation and benefits during any such paid leave. Any such action by the Company will not constitute Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**f) <u>Good Reason</u>**. The term "<u>Good Reason</u>" means: (i) the material breach by the Company of any material provision of this agreement; or (ii) reduction of Executive's Base Salary; or (iii) material diminution in Executive's title, position, duties, responsibilities or compensation or benefits, without Executive's prior written consent; or (iv) the Company's relocation of Executive's office to a location more than 50 miles from the office Executive is required to report to as of the IPO Effective Date without the Executive's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**g) <u>Notice and Cure of Good Reason Condition</u>**. In order to resign for Good Reason, Executive must give the Company written notice of the Good Reason condition within 90 days of when the Executive becomes aware of the Good Reason condition, allow the Company 30 days to cure the Good Reason condition, and, if the Company fails to cure, resign within 45 days after giving the Company written notice of the Good Reason condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**h) <u>Effect of Termination upon Benefits</u>**. Except for benefits under COBRA required to be provided by law, all benefits shall terminate pursuant to the terms of the applicable benefit plans based on the date of termination of the Executive's employment without regard to any continuation of Base Salary or other payment to the Executive following such date of termination.

**5. <u>Business Expenses.</u>** Upon presentation of reasonable substantiation and documentation as the Company may specify from time to time, the Executive shall be reimbursed in accordance with the Company's expense reimbursement policy, for all reasonable out-of-pocket business expenses incurred and paid by the Executive during the Term and in connection with the performance of the Executive's duties hereunder. To the extent the Executive is provided with the use of the Company's credit or charge card for purposes of business expenses, such credit or charge card shall not be used to incur any personal (non-business-related) expenses; any personal expenses inadvertently charged to such card shall be reimbursed immediately by the Executive to the Company.

**6. <u>Confidentiality and Intellectual Property.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Confidential Information.</u>** The Executive acknowledges that the Executive will occupy a position of trust and confidence. The Company, from time to time, may disclose to the Executive, and the Executive will require access to and may generate confidential and proprietary information (no matter how created or stored) concerning the business practices, products, services, and operations of the Company which is not known to its competitors or within its industry generally and which is of great competitive value to it, including, but not limited to: (i) Trade Secrets, inventions, mask works, ideas, concepts, drawings, materials, documentation, procedures, diagrams, specifications, models, processes, formulae, source and object codes, data, software, programs, other works of authorship, know-how, improvements, discoveries, developments, designs and techniques; (ii) information regarding research, development, products, marketing plans, market research and forecasts, bids, proposals, quotes, business plans, budgets, financial information and projections, overhead costs, profit margins, pricing policies and practices, accounts, processes, planned collaborations or alliances, licenses, suppliers and customers; (iii) operational information including deployment plans, means and methods of performing services, operational needs information, and operational policies and practices; and (iv) any information obtained by the Company from any third party that the Company treats or agrees to treat as confidential or proprietary information of the third party (collectively, "<u>Confidential Information</u>"). The Executive acknowledges and agrees that Confidential Information includes Confidential Information disclosed to the Executive prior to entering into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Trade Secrets.</u>** "<u>Trade Secrets</u>" means any information, including any data, plan, drawing, specification, pattern, procedure, method, computer data, system, program or design, device, list, tool, or compilation, that relates to the present or planned business of the Company and which: (i) derives economic value, actual or potential, from not being generally known to, and not readily ascertainable by proper means to, other persons who can obtain economic value from their disclosure or use; and (ii) is the subject of efforts that are reasonable under the circumstances to maintain their secrecy. To the extent that the foregoing definition is inconsistent with a definition of "trade secret" under applicable law, the latter definition shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Restrictions On Use and Disclosure of Confidential Information.</u>** The Executive recognizes that the Company's business interests require the full protection of its Confidential Information. The Executive agrees during his employment and after his employment ends, the Executive will hold the Confidential Information in strict confidence and will neither use the information nor disclose it to anyone, except to the extent necessary to carry out the Executive's responsibilities as an employee of the Company or as specifically authorized in writing by a duly authorized officer of the Company. The Parties agree that the restrictions in this Section will not apply to any portion of the Confidential Information which: (i) was known to the public prior to its disclosure to the Executive; (ii) becomes generally known to the public subsequent to disclosure to the Executive through no wrongful act of the Executive; or (iii) the Executive is required to disclose by applicable law, regulation or legal process (provided, if permitted, that the Executive provides the Company with prior notice of the contemplated disclosure and cooperates with the Company at its expense in seeking to protect such information). Nothing in this Agreement shall be deemed to prohibit the Executive from disclosing any concerns about suspected unlawful conduct to any proper government authority subject to proper jurisdiction. This provision shall survive the termination of the Executive's employment for so long as the Company maintains the secrecy of the Confidential Information and the Confidential Information has competitive value; and to the extent such information is otherwise protected by statute for a longer period, for example and not by way of limitation, the Defend Trade Secrets Act of 2016 ("<u>DTSA</u>"), then until such information ceases to have statutory protection.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Defend Trade Secrets Act.</u>** Misappropriation of a Trade Secret of the Company in breach of this Agreement may subject the Executive to liability under the DTSA, entitle the Company to injunctive relief, and require the Executive to pay compensatory damages, double damages, and attorneys' fees to the Company. Notwithstanding any other provision of this Agreement, the Executive hereby is notified in accordance with the DTSA that the Executive will not be held criminally or civilly liable under a federal or state law for the disclosure of a trade secret that is made in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. If the Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, the Executive may disclose the trade secret to the Executive's attorney and use the trade secret information in the court proceeding, provided that the Executive must file any document containing the trade secret under seal, and must not disclose the trade secret, except pursuant to court order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Ownership of Inventions.</u>** All ideas, data, deliverables, reports, work products, innovations, improvements, know-how, inventions, designs, developments, techniques, methods and other results of the Executive's employment with the Company (in draft and final forms), and all related documentation (such as, but not limited to, notes, records, documents, drawings, and designs), which the Executive makes, conceives, reduces to practice, or develops in whole or in part, either alone or jointly with others, in connection with his services to the Company or which relate to any Confidential Information (collectively, the "<u>Inventions</u>") will be the sole and exclusive property of the Company , and will be considered "works made for hire" pursuant to the United States Copyright Act (17 U.S.C. Section 101). The Executive hereby assigns to the Company or its designees all of the Executive's right, title and interest in and to all of the foregoing without compensation. To the extent the Executive has any "moral rights" in the Inventions which are not assignable by law, the Executive hereby waives any such moral rights relating to the Inventions, including any and all rights of identification of authorship and any and all rights of approval, restriction or limitation on use or subsequent modifications. The Executive further represents that, to the best of the Executive's knowledge and belief, none of the Inventions that the Executive creates will violate or infringe upon any right, patent, copyright, trademark or right of privacy, or constitute libel or slander against or violate any other rights of any person, firm, or corporation, and that the Executive will use the Executive's commercially reasonable efforts to prevent any such violation.

**7. <u>Covenants Not To Compete or Solicit</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Non-Competition.</u>** During the Term and for a period of twelve months immediately following the end of the Term, Executive shall not, anywhere within the United States, either as principal, agent, employee, consultant, partner, officer, director, shareholder, or in any other individual or representative capacity, own (more than 5%), manage, finance, operate, control or otherwise engage or participate in any manner or fashion in any business engaged in the same or similar business as the Company, including those engaged in the business of researching, developing, marketing, commercializing, selling, providing customer and technical support for and distributing interactive visual collaboration solutions, including hardware and software products for large format multi-touch touch-screen devices and visual collaboration devices for use in corporate, healthcare, educational, retail and direct to consumer settings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Non-Solicitation of Personnel.</u>** During the Term, and for a period of twelve (12) months immediately following the end of the Term, the Executive shall not, directly, or indirectly, solicit, induce, recruit, or encourage any Protected Personnel of the Company to leave their employment, or end their engagement with the Company, to provide services for the Executive or any other person, business, or organization. "<u>Protected Personnel</u>" means: (i) any person currently employed or engaged as an independent contractor by the Company; and (ii) any former employee or independent contractor of the Company, for a period of three (3) months after termination of such employee's employment, or independent contractor's engagement, with the Company.

**8. <u>Return of Property.</u>** On the date of the Executive's termination of employment with the Company for any reason (or at any time prior thereto at the Company's request), the Executive shall return all property belonging to the Company or its affiliates and not retain any copies, including, but not limited to, any keys, access cards, badges, laptops, computers, cell phones, wireless electronic mail devices, USB drives, other equipment, documents, reports, files, and other property provided by or belonging to the Company or the Company.

**9. <u>Non-Disparagement.</u>** During the Executive's employment and following termination of employment for whatever reason, the Executive shall not, directly, or indirectly, make or publish denigrating or derogatory remarks, comments, or statements (whether written or oral) in any forum or through any medium of communication regarding the Company, its services, or any of its owners, managers, officers, employees, or consultants. Notwithstanding the foregoing, nothing in this section shall or shall be deemed to prevent or impair the Executive from making truthful statements in any legal or administrative proceeding or from otherwise complying with legal requirements.

**10. <u>Enforcement.</u>** The Parties agree that the Funds may be damaged irreparably in the event that any provision of Sections 6, 7, 8, or 9 of this Agreement are not performed in accordance with their terms or are otherwise breached and that money damages would be an inadequate remedy for any such nonperformance or breach. Accordingly, notwithstanding Section 18 (Arbitration), any Party shall be entitled to seek, in courts of the State of North Carolina, County of Mecklenburg, and the United States District Court for the Western District of North Carolina, a temporary restraining order, preliminary injunction, or other preliminary equitable relief, to prevent any breach or threatened breach of this Agreement and to preserve the status quo (without posting a bond or other security) until an arbitration of the underlying dispute can be held.

**11. <u>Survival of Provisions.</u>** The obligations contained in Sections 6 through 10, 12, 18 and 20 of this Agreement shall survive the termination of the Executive's employment with the Company and shall be fully enforceable thereafter.

**12. <u>Notices.</u>** For the purposes of this Agreement, notices, demands and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been given when delivered by email with return receipt requested, upon the obtaining of a valid return receipt from the recipient, by hand or mailed by nationally recognized overnight delivery service, addressed to the Parties' addresses specified below or to such other address as any Party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt:

<u>To the Company:</u>

T1V, Inc.

Attn: Board of Directors

5025 West W.T. Harris Boulevard, Suite A

Charlotte, NC 28269

<u>With a copy (which shall not constitute notice) to:</u>

Hutchison PLLC

701 Corporate Center Dr., Suite 250

Raleigh, NC 27607

Attn: John Rudd

Email: jrudd@hutchlaw.com

<u>To the Executive:</u>

Mr. Michael Feldman

***[Address]***

***[Email]***

**13. <u>Tax Matters.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Withholding.</u>** The Company may withhold from any and all amounts payable hereunder any such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Code Section 409A.</u>** The payments described in this Agreement are intended either to comply with the requirements of Code Section 409A, to the extent they are subject to Code Section 409A, or to be exempt from such requirements, regulations, and guidance (where an exemption is available) and will be construed accordingly. Notwithstanding any other provision of this Agreement, the Parties agree that the Company has the right, to the extent the Company deems necessary or advisable, in its sole discretion, to unilaterally amend this Agreement to ensure that the payments hereunder comply with Section 409A. The Company is not responsible for and makes no representation or warranty whatsoever in connection with the tax treatment hereunder, and the Executive should consult his own tax advisor, including without limitation the applicability of Code Section 409A as to the tax effect of amounts payable to the Executive under this Agreement. In any case, the Executive shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on the Executive in connection with this Agreement (including any taxes and penalties under Code Section 409A), and neither the Company nor any of its affiliates shall have any obligation to indemnify or otherwise hold the Executive harmless from any or all of such taxes or penalties.

**14. <u>Assignment.</u>** The Executive may not assign any part of the Executive's rights or obligations under this Agreement. The Executive agrees and hereby consents that the Company may assign this Agreement, without the consent of the Executive, to a parent company or affiliate, or to a third party that acquires or succeeds to the Company's business, that the provisions hereof are enforceable against the Executive by such assignee or successor in interest, and that this Agreement shall become an obligation of, inure to the benefit of, and be assigned to, any such assignees or legal successors to the Company.

**15. <u>Headings.</u>** Titles or captions of sections or paragraphs contained in this Agreement are intended solely for the convenience of reference, and shall not serve to define, limit, extend, modify, or describe the scope of this Agreement or the meaning of any provision hereof. The language used in this Agreement is deemed to be the language chosen by the Parties to express their mutual intent, and no rule of strict construction will be applied against any person.

**16. <u>Severability.</u>** The provisions of this Agreement are severable. The unenforceability or invalidity of any provision or portion of this Agreement in any jurisdiction shall not affect the validity, legality, or enforceability of the remainder of this Agreement, it being intended that all rights and obligations of the Parties hereunder shall be enforceable to the full extent permitted by applicable law.

**17. <u>Governing Law; Venue.</u>** This Agreement, the rights and obligations of the Parties hereto, and any claims or disputes relating thereto, shall be governed by, and construed in accordance with the laws of the State of North Carolina (without regard to its conflicts of laws provisions). Except as provided in Section 17 (Arbitration) of this Agreement, the Parties consent to the personal jurisdiction of the State of North Carolina and further agree to the exclusive jurisdiction of the courts of the State of North Carolina, County of Mecklenburg and the United States District Court for the Western District of North Carolina, as applicable, in connection with, or incident to, any dispute, claim, case, controversy or matter arising out of or relating to Executive's employment or this Agreement, to the exclusion of the courts of any other state, territory or country. The Parties knowingly, willingly, and voluntarily, **WAIVE ALL RIGHT TO TRIAL BY JURY** in any such proceedings.

**18. <u>Arbitration.</u>** Any dispute, controversy or claim arising out of or relating to this Agreement, its enforcement, arbitrability or interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of its provisions and Employee's employment with the Company, including any alleged violation of statute, common law, or public policy, shall be submitted to final and binding arbitration before the American Arbitration Association ("**AAA**") to be held in Charlotte, North Carolina, before a single arbitrator, in accordance with then-current AAA Employment Arbitration Rules. The arbitrator shall issue a written opinion stating the essential findings and conclusions on which the arbitrator's award is based. Company will pay the arbitrator's fees and arbitration expenses and any other costs unique to the arbitration hearing (recognizing that each side bears its own deposition, witness, expert and attorney's fees and other expenses to the same extent as if the matter were being heard in court). If, however, any party prevails on a statutory claim that affords the prevailing party attorneys' fees and costs, then the arbitrator may award reasonable attorneys' fees and costs to the prevailing party. Any dispute as to who is a prevailing party and/or the reasonableness of any fee or costs shall be resolved by the arbitrator.

________ By initialing here, Executive acknowledges he has read this paragraph and agrees with the arbitration provision herein.

**19. <u>Directors' and Officers' Insurance</u>.** The Company or any successor to the Company shall purchase and maintain, at its own expense, directors' and officers' liability insurance providing coverage for the Executive on terms that are no less favorable than the coverage provided to directors and to similarly situated executives of the Company or any successor.

**20. <u>Waiver; Modification.</u>** No provision of this Agreement may be modified, waived, or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and a duly authorized officer of the Company. No waiver by either Party hereto at any time of any breach by the other Party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other Party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

**21. <u>Recitals; Entire Agreement.</u>** The Recitals are hereby incorporated into this Agreement. This Agreement sets forth the entire agreement of the Parties with respect to the subject matter contained herein and supersedes any and all prior agreements or understandings between the Executive and the Company with respect to the subject matter hereof. No agreements, inducements, or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either Party which are not expressly set forth in this Agreement and the Transfer Agreement.

**22. <u>Counterparts.</u>** This Agreement may be executed in counterparts, and each executed counterpart shall have the efficacy of a signed original and may be transmitted by facsimile or email. Each copy, facsimile copy, or emailed copy of any such signed counterpart may be used in lieu of the original for any purpose.

**IN WITNESS WHEREOF,** the Parties hereto have executed this Executive Employment Agreement effective as of the IPO Effective Date.

---

| | | |
|:---|:---|:---|
| **T1V, INC.** | **T1V, INC.** | **T1V, INC.** |
| By: |  |  |
|  | Name: | Diane Thompson |
|  | Title: | CFO |
| **EXECUTIVE** | **EXECUTIVE** | **EXECUTIVE** |
| Michael Feldman | Michael Feldman | Michael Feldman |

---

**<u>EXHIBIT A</u>**

**General Release and Covenant Not to Sue**

**TO ALL WHOM THESE PRESENTS SHALL COME OR MAY CONCERN, KNOW THAT**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Michael Feldman**, ("<u>Executive</u>"), on Executive's own behalf and on behalf of Executive's descendants, dependents, heirs, executors and administrators and permitted assigns, past and present, in consideration for the amounts payable and benefits to be provided to Executive under that employment agreement dated as of ______________, 2023 (the "<u>Employment Agreement</u>") by and between Executive and **T1V, Inc.** ("<u>Company</u>"), does hereby covenant not to sue or pursue any litigation or arbitration against, and waives, releases and discharges the Company, its assigns, affiliates, subsidiaries, parents, predecessors and successors, and the past and present employees, officers, directors, representatives and agents of any of them, including but not limited to the Company (collectively, the "<u>Releasees</u>"), from any and all claims, demands, rights, judgments, defenses, actions, charges or causes of action whatsoever, of any and every kind and description, whether known or unknown, accrued or not accrued, that Executive ever had, now has or shall or may have or assert as of the date of this General Release and Covenant Not to Sue against the Releasees relating to his employment with the Company or the termination thereof, or his service as an officer or director of the Company or of any subsidiary or affiliate of the Company, or the termination of such service, including, without limiting the generality of the foregoing, any claims, demands, rights, judgments, defenses, actions, charges or causes of action related to employment or termination of employment or that arise out of or relate in any way to the Age Discrimination in Employment Act of 1967, the National Labor Relations Act, the Civil Rights Act of 1991, the Americans With Disabilities Act of 1990, Title VII of the Civil Rights Act of 1964, the Employee Retirement Income Security Act of 1974, the Family and Medical Leave Act, the Sarbanes-Oxley Act of 2002, all as amended, any claims under North Carolina laws, including, but not limited to, the Retaliatory Employment Discrimination Act, the North Carolina Persons with Disabilities Protection Act, the Equal Employment Practices Act, the Sickle Cell and Hemoglobin Trait Discrimination Act, the Genetic Testing and Information Discrimination Act, the Use of Lawful Products Discrimination Act, the AIDS and HIV Status Discrimination Act, the Jury Service Discrimination Act, the Military Service Discrimination Act, and any other Federal, state and local laws relating to discrimination on the basis of age, sex or other protected class, wages and hours, or leave from work, and all claims under Federal, state or local laws for express or implied breach of contract, wrongful discharge, defamation, intentional infliction of emotional distress, and any related claims for attorneys' fees and costs; *provided, however*, that nothing herein shall release the Company from: (a) its obligation to pay the amounts, and provide the benefits, upon which this General Release and Covenant Not to Sue is conditioned; (b) any rights Executive may have to indemnification from claims by shareholders or third-parties under any law, charter, or by-laws (or similar documents) of, or any agreement with, any member of the Releasees; (c) any right or claim of contribution Executive may have with respect to any third-party claim; or (d) any insurance coverage under any directors' and officers' insurance or similar policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Executive further agrees that this General Release and Covenant Not to Sue may be pleaded as a full defense to any action, suit or other proceeding covered by the terms hereof that is or may be initiated, prosecuted, or maintained by Executive or Executive's heirs or assigns. Executive understands and confirms that Executive is executing this General Release and Covenant Not to Sue voluntarily and knowingly, but that this General Release and Covenant Not to Sue does not affect Executive's right to claim otherwise under ADEA. In addition, Executive shall not be precluded by this General Release and Covenant Not to Sue from filing a charge with any relevant Federal, state, or local administrative agency, but Executive agrees to waive Executive's rights with respect to any monetary or other financial relief arising from any such administrative proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. In furtherance of the agreements set forth above, Executive hereby expressly waives and relinquishes any and all rights under any applicable statute, doctrine, or principle of law, restricting the right of any person to release claims that such person does not know or suspect to exist at the time of executing a release, which claims, if known, may have materially affected such person's decision to give such a release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. In the event any of the Releasees brings a civil action or arbitration proceeding against Executive (other than a civil action or arbitration proceeding to enforce this General Release and Covenant Not to Sue) then this General Release and Covenant Not to Sue shall be of no further force and effect and Executive shall be permitted to bring claims against the Releasees that would have been otherwise barred by this General Release and Covenant Not to Sue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. This General Release and Covenant Not to Sue shall be governed by and construed in accordance with the laws of the State of North Carolina applicable to agreements made and to be performed entirely within such state without regard to principles of conflicts of laws, *provided, however*, that the arbitration provisions of the Employment Agreement shall be governed solely by the Federal Arbitration Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. To the extent that Executive is forty (40) years of age or older, this paragraph shall apply. Executive acknowledges that Executive has been offered a period of time of at least forty-five (45) days to consider whether to sign this General Release and Covenant Not to Sue, which Executive has waived, and the Company agrees that Executive may cancel this General Release and Covenant Not to Sue at any time during the seven (7) days following the date on which this General Release and Covenant Not to Sue has been signed by all parties to this General Release and Covenant Not to Sue. To cancel or revoke this General Release and Covenant Not to Sue, Executive must deliver to the Company written notice stating that Executive is canceling or revoking this General Release and Covenant Not to Sue. If this General Release and Covenant Not to Sue is timely cancelled or revoked, none of the provisions of this General Release and Covenant Not to Sue shall be effective or enforceable and the Company shall not be obligated to make the payments to Executive or to provide Executive with the other benefits described in Section 4 of the Employment Agreement, and all contracts and provisions modified, relinquished or rescinded hereunder shall be reinstated to the extent in effect immediately prior hereto. Executive is hereby advised to seek legal counsel prior to signing this General Release and Covenant Not to Sue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Executive acknowledges and agrees that Executive has entered this General Release and Covenant Not to Sue knowingly and willingly and has had ample opportunity to consider the terms and provisions of this General Release and Covenant Not to Sue.

**IN WITNESS WHEREOF**, the undersigned has caused this General Release and Covenant Not to Sue to be executed on this _____day of ________________, 20__.

**Michael Feldman**

## Exhibit 10.2

**Exhibit 10.2**

**<u>EXECUTIVE EMPLOYMENT AGREEMENT</u>**

**THIS EXECUTIVE EMPLOYMENT AGREEMENT** (this "<u>Agreement</u>") is made as of , 2023, and entered into by and between T1V, Inc. (the "<u>Company</u>"), and James Morris (the "<u>Executive</u>") (each a "<u>Party</u>," or, collectively, the "<u>Parties</u>") to be effective as of the date of the consummation of the Company's initial public offering of common stock (the "IPO Effective Date").

**WHEREAS**, the Company has employed the Executive and wishes to continue to employ him on the terms set forth in this Agreement; and

**WHEREAS**, Executive wishes to remain employed on the terms set forth herein.

**NOW, THEREFORE,** in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:

**1. <u>Past Agreements/Employment Term.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a)** All past agreements of employment, oral or written, between the Company and Executive, shall, as of the IPO Effective Date, terminate and be of no further force or effect. For the avoidance of doubt, it is expressly stated that Executive remains entitled to any deferred wages, salary, bonuses or other cash compensation, any unreimbursed expenses, and any grants of equity or options, to which Executive became entitled under any past employment agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b)** The Company agrees to employ the Executive "at will" pursuant to the terms of this Agreement and the Executive agrees to be so employed. Nothing in this Agreement is intended to create a promise or representation of continued employment or employment for a fixed period of time. The period of time between the IPO Effective Date and the termination of the Executive's employment shall be referred to as the "<u>Term</u>."

**2. <u>Position and Duties.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Title.</u>** The Company hereby agrees to continue to employ the Executive to serve as Chief Technology Officer of the Company, subject to the power of the Chief Executive Office ("<u>CEO</u>") to expand, limit or otherwise alter such duties, responsibilities, title, position and authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Reporting Relationships and Duties.</u>** The Executive shall: (i) report to the CEO; and (ii) be responsible for Competitive Analysis, Intellectual Property and High-level technical direction and shall have all duties, authorities, and responsibilities commensurate with those of persons in similar capacities in similarly sized companies, and such other duties, authorities, and responsibilities as may reasonably be assigned to the Executive by the CEO. Additionally, if nominated to serve as a director of the Company, or of any Company affiliate, Executive shall accept such nomination and, if elected, shall serve as a director for no additional compensation beyond what is provided under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Full-Time Commitment/Policies</u>.** Throughout the Executive's employment, the Executive shall devote substantially all of his professional time to the performance of his duties of employment with the Company (except as otherwise provided herein) and shall faithfully and industriously perform such duties. The Executive will be required to comply with all Company policies as may exist and be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Executive Representations.</u>** The Executive represents and warrants to the Company that he is under no obligations or commitments, whether contractual or otherwise, that are inconsistent with his obligations under this Agreement. The Executive represents and warrants that he will not use or disclose, in connection with his employment by the Company, any trade secrets, proprietary information, or intellectual property in which any other person has any right, title or interest and that his employment by the Company as contemplated by this Agreement will not infringe or violate the rights of any other person.

**3. <u>Compensation and Benefits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Base Salary.</u>** <u>I</u>n consideration for his work under the terms of this Agreement, the Company shall pay to the Executive a base salary at a rate of $180,000 ([One Hundred and Eighty Thousand] Dollars) per year ("<u>Base Salary</u>") in arrears on the last day of each month of the Term, or more frequently, in accordance with the regular payroll practices of the Company. The Base Salary shall be subject to such deductions and withholdings as are required by law and otherwise elected by the Executive. If the Term ends other than on the last day of a month the last salary payment shall be pro-rated based on the number of days in the month that have passed as of the date of termination. The Base Salary shall be reviewed annually by the CEO and the Board of Directors of the Company (the "<u>Board</u>").

 ****

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***b)* <u>Quarterly Bonus.</u>** In addition to the Base Salary, Executive will be eligible for a discretionary incentive bonus for each fiscal quarter of the Company. Whether Executive is awarded any bonus for a given fiscal quarter, and the amount of the bonus (if any), will be determined by the Board in its sole discretion based on the Company's achievement of objective or subjective criteria established by the Company's management team and approved by the Board. The bonus for a given fiscal quarter will be paid within forty-five (45) days after the close of that fiscal quarter, and Executive must remain actively employed by the Company at the time of payment in order to earn the bonus for that fiscal quarter. The determination of the Board with respect to Executive's bonus will be final and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Stock-Based Compensation Awards.</u>** The Company may, from time to time and in its sole and absolute discretion, grant Executive stock based compensation awards subject to the terms of the T1V, Inc. 2023 Equity Incentive Plan (the "<u>Equity Plan</u>"). Executive shall be responsible for all income taxes imposed as a result of such grants except the Company's share of FICA taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Benefits.</u>** Executive shall be eligible for any fringe benefits offered by the Company on the same terms and conditions as other executives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Paid Time Off.</u>** Executive shall be entitled to paid vacation days and paid sick days in accordance with the Company's policies. Executive shall also be entitled to paid time off on holidays recognized by the Company. The Company shall not pay Executive for accrued and unused vacation or sick days when Executive's employment terminates for any reason.

**4. <u>Termination of Employment.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Notice of Termination.</u>** A party may terminate Executive's employment by giving written notice of such termination in accordance with the notice provisions of this Agreement. Termination will become effective upon a party's receipt of notice of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Termination for Any Reason.</u>** In the event the Executive's employment terminates for any reason, then: (i) the Company shall pay to the Executive the Base Salary earned through the date of termination; (ii) the Company shall reimburse the Executive for any expenses incurred through the date of termination for which the Executive is entitled to reimbursement; (iii) the Executive's rights under any benefit plans, programs, or arrangements of the Company shall be determined in accordance with the provisions thereof; and (iv) any stock-based compensation grants shall be governed by the terms of the Equity Plan or any other deferred compensation plan that applies to such stock-based compensation. The items in subparagraphs (i) – (iv) are referred to hereinafter as the "<u>Accrued Amounts</u>." For the avoidance of doubt, in the event that the Executive's employment is terminated by the Company without Cause, or Executive resigns for Good Reason, then Executive will be entitled, without duplication, to the additional amounts as set forth in, and pursuant to the term of, <u>Section 3(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Termination Without Cause, Resignation for Good Reason</u>**. In the event the Executive's employment is terminated by the Company without Cause, or Executive resigns for Good Reason, then the Company shall provide the Executive with: (i) the Accrued Amounts; (ii) severance pay in the form of twelve months' base salary paid over a twelve-month period and reimbursement of group health insurance premiums for twelve months if Executive is eligible to continue Executive's group health benefits under COBRA or any state law equivalent and elects to do so ("<u>Severance Pay</u>"). Executive's receipt of Severance Pay is subject to: (x) Executive's written resignation from the Board and any officer positions on the Board effective within five (5) days after Executive's employment terminates; and (y) the Executive's execution and delivery of a release of claims in favor of the Company, its affiliates, and their respective agents, officers, and directors, in the form annexed hereto as <u>Exhibit "A"</u> (the "<u>Release</u>") and such Release becoming effective within forty-five (45) days following the Termination Date (such 45-day period, the "<u>Release Execution Period</u>"). Severance payments will be made beginning seven (7) days after any revocation period in the Release has expired and the first such payment shall include all payments that would have occurred had the Release become effective on the date Executive's employment terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Cause</u>**. The term "<u>Cause</u>" means Executive's: (i) gross and willful misconduct in connection with the performance of his duties and responsibilities; (ii) commission of fraud or embezzlement in connection with his duties hereunder; (iii) material misrepresentation or a material act of dishonesty in connection with his duties hereunder; (iv) conviction of, or a plea of guilty or nolo contendere to, a felony, or a misdemeanor involving moral turpitude; (v) willful and repeated refusal or failure to follow specific, lawful, directions of the CEO that are consistent with his position and this Agreement; or (v) the Company's reasonable determination that Executive has engaged in: (a) unlawful discriminatory harassment of an employee; (b) unlawful retaliation against an employee for exercising rights protected under applicable law, or (c) the material breach of this Agreement that causes material damage to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Notice and Cure of Cause Condition</u>**. Except for a failure, breach, or refusal which, by its nature, is not reasonably susceptible of cure, the Executive shall have thirty (30) calendar days from the delivery of written notice by the Company, which notice shall describe in reasonable detail the conduct alleged to constitute Cause, within which to cure any acts constituting Cause. The Company may place the Executive on paid leave for up to forty (40) days while it is determining whether there is a basis to terminate the Executive's employment for Cause. The Executive shall continue to be entitled to all compensation and benefits during any such paid leave. Any such action by the Company will not constitute Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**f) <u>Good Reason</u>**. The term "<u>Good Reason</u>" means: (i) the material breach by the Company of any material provision of this agreement; or (ii) reduction of Executive's Base Salary; or (iii) material diminution in Executive's title, position, duties, responsibilities or compensation or benefits, without Executive's prior written consent; or (iv) the Company's relocation of Executive's office to a location more than 50 miles from the office Executive is required to report to as of the IPO Effective Date without the Executive's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**g) <u>Notice and Cure of Good Reason Condition</u>**. In order to resign for Good Reason, Executive must give the Company written notice of the Good Reason condition within 90 days of when the Executive becomes aware of the Good Reason condition, allow the Company 30 days to cure the Good Reason condition, and, if the Company fails to cure, resign within 45 days after giving the Company written notice of the Good Reason condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**h) <u>Effect of Termination upon Benefits</u>**. Except for benefits under COBRA required to be provided by law, all benefits shall terminate pursuant to the terms of the applicable benefit plans based on the date of termination of the Executive's employment without regard to any continuation of Base Salary or other payment to the Executive following such date of termination.

**5. <u>Business Expenses.</u>** Upon presentation of reasonable substantiation and documentation as the Company may specify from time to time, the Executive shall be reimbursed in accordance with the Company's expense reimbursement policy, for all reasonable out-of-pocket business expenses incurred and paid by the Executive during the Term and in connection with the performance of the Executive's duties hereunder. To the extent the Executive is provided with the use of the Company's credit or charge card for purposes of business expenses, such credit or charge card shall not be used to incur any personal (non-business-related) expenses; any personal expenses inadvertently charged to such card shall be reimbursed immediately by the Executive to the Company.

**6. <u>Confidentiality and Intellectual Property.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Confidential Information.</u>** The Executive acknowledges that the Executive will occupy a position of trust and confidence. The Company, from time to time, may disclose to the Executive, and the Executive will require access to and may generate confidential and proprietary information (no matter how created or stored) concerning the business practices, products, services, and operations of the Company which is not known to its competitors or within its industry generally and which is of great competitive value to it, including, but not limited to: (i) Trade Secrets, inventions, mask works, ideas, concepts, drawings, materials, documentation, procedures, diagrams, specifications, models, processes, formulae, source and object codes, data, software, programs, other works of authorship, know-how, improvements, discoveries, developments, designs and techniques; (ii) information regarding research, development, products, marketing plans, market research and forecasts, bids, proposals, quotes, business plans, budgets, financial information and projections, overhead costs, profit margins, pricing policies and practices, accounts, processes, planned collaborations or alliances, licenses, suppliers and customers; (iii) operational information including deployment plans, means and methods of performing services, operational needs information, and operational policies and practices; and (iv) any information obtained by the Company from any third party that the Company treats or agrees to treat as confidential or proprietary information of the third party (collectively, "<u>Confidential Information</u>"). The Executive acknowledges and agrees that Confidential Information includes Confidential Information disclosed to the Executive prior to entering into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Trade Secrets.</u>** "<u>Trade Secrets</u>" means any information, including any data, plan, drawing, specification, pattern, procedure, method, computer data, system, program or design, device, list, tool, or compilation, that relates to the present or planned business of the Company and which: (i) derives economic value, actual or potential, from not being generally known to, and not readily ascertainable by proper means to, other persons who can obtain economic value from their disclosure or use; and (ii) is the subject of efforts that are reasonable under the circumstances to maintain their secrecy. To the extent that the foregoing definition is inconsistent with a definition of "trade secret" under applicable law, the latter definition shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Restrictions On Use and Disclosure of Confidential Information.</u>** The Executive recognizes that the Company's business interests require the full protection of its Confidential Information. The Executive agrees during his employment and after his employment ends, the Executive will hold the Confidential Information in strict confidence and will neither use the information nor disclose it to anyone, except to the extent necessary to carry out the Executive's responsibilities as an employee of the Company or as specifically authorized in writing by a duly authorized officer of the Company. The Parties agree that the restrictions in this Section will not apply to any portion of the Confidential Information which: (i) was known to the public prior to its disclosure to the Executive; (ii) becomes generally known to the public subsequent to disclosure to the Executive through no wrongful act of the Executive; or (iii) the Executive is required to disclose by applicable law, regulation or legal process (provided, if permitted, that the Executive provides the Company with prior notice of the contemplated disclosure and cooperates with the Company at its expense in seeking to protect such information). Nothing in this Agreement shall be deemed to prohibit the Executive from disclosing any concerns about suspected unlawful conduct to any proper government authority subject to proper jurisdiction. This provision shall survive the termination of the Executive's employment for so long as the Company maintains the secrecy of the Confidential Information and the Confidential Information has competitive value; and to the extent such information is otherwise protected by statute for a longer period, for example and not by way of limitation, the Defend Trade Secrets Act of 2016 ("<u>DTSA</u>"), then until such information ceases to have statutory protection.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Defend Trade Secrets Act.</u>** Misappropriation of a Trade Secret of the Company in breach of this Agreement may subject the Executive to liability under the DTSA, entitle the Company to injunctive relief, and require the Executive to pay compensatory damages, double damages, and attorneys' fees to the Company. Notwithstanding any other provision of this Agreement, the Executive hereby is notified in accordance with the DTSA that the Executive will not be held criminally or civilly liable under a federal or state law for the disclosure of a trade secret that is made in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. If the Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, the Executive may disclose the trade secret to the Executive's attorney and use the trade secret information in the court proceeding, provided that the Executive must file any document containing the trade secret under seal, and must not disclose the trade secret, except pursuant to court order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Ownership of Inventions.</u>** All ideas, data, deliverables, reports, work products, innovations, improvements, know-how, inventions, designs, developments, techniques, methods and other results of the Executive's employment with the Company (in draft and final forms), and all related documentation (such as, but not limited to, notes, records, documents, drawings, and designs), which the Executive makes, conceives, reduces to practice, or develops in whole or in part, either alone or jointly with others, in connection with his services to the Company or which relate to any Confidential Information (collectively, the "<u>Inventions</u>") will be the sole and exclusive property of the Company , and will be considered "works made for hire" pursuant to the United States Copyright Act (17 U.S.C. Section 101). The Executive hereby assigns to the Company or its designees all of the Executive's right, title and interest in and to all of the foregoing without compensation. To the extent the Executive has any "moral rights" in the Inventions which are not assignable by law, the Executive hereby waives any such moral rights relating to the Inventions, including any and all rights of identification of authorship and any and all rights of approval, restriction or limitation on use or subsequent modifications. The Executive further represents that, to the best of the Executive's knowledge and belief, none of the Inventions that the Executive creates will violate or infringe upon any right, patent, copyright, trademark or right of privacy, or constitute libel or slander against or violate any other rights of any person, firm, or corporation, and that the Executive will use the Executive's commercially reasonable efforts to prevent any such violation.

**7. <u>Covenants Not To Compete or Solicit</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Non-Competition.</u>** During the Term and for a period of twelve months immediately following the end of the Term, Executive shall not, anywhere within the United States, either as principal, agent, employee, consultant, partner, officer, director, shareholder, or in any other individual or representative capacity, own (more than 5%), manage, finance, operate, control or otherwise engage or participate in any manner or fashion in any business engaged in the same or similar business as the Company, including those engaged in the business of researching, developing, marketing, commercializing, selling, providing customer and technical support for and distributing interactive visual collaboration solutions, including hardware and software products for large format multi-touch touch-screen devices and visual collaboration devices for use in corporate, healthcare, educational, retail and direct to consumer settings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Non-Solicitation of Personnel.</u>** During the Term, and for a period of twelve (12) months immediately following the end of the Term, the Executive shall not, directly, or indirectly, solicit, induce, recruit, or encourage any Protected Personnel of the Company to leave their employment, or end their engagement with the Company, to provide services for the Executive or any other person, business, or organization. "<u>Protected Personnel</u>" means: (i) any person currently employed or engaged as an independent contractor by the Company; and (ii) any former employee or independent contractor of the Company, for a period of three (3) months after termination of such employee's employment, or independent contractor's engagement, with the Company.

**8. <u>Return of Property.</u>** On the date of the Executive's termination of employment with the Company for any reason (or at any time prior thereto at the Company's request), the Executive shall return all property belonging to the Company or its affiliates and not retain any copies, including, but not limited to, any keys, access cards, badges, laptops, computers, cell phones, wireless electronic mail devices, USB drives, other equipment, documents, reports, files, and other property provided by or belonging to the Company or the Company.

**9. <u>Non-Disparagement.</u>** During the Executive's employment and following termination of employment for whatever reason, the Executive shall not, directly, or indirectly, make or publish denigrating or derogatory remarks, comments, or statements (whether written or oral) in any forum or through any medium of communication regarding the Company, its services, or any of its owners, managers, officers, employees, or consultants. Notwithstanding the foregoing, nothing in this section shall or shall be deemed to prevent or impair the Executive from making truthful statements in any legal or administrative proceeding or from otherwise complying with legal requirements.

**10. <u>Enforcement.</u>** The Parties agree that the Funds may be damaged irreparably in the event that any provision of Sections 6, 7, 8, or 9 of this Agreement are not performed in accordance with their terms or are otherwise breached and that money damages would be an inadequate remedy for any such nonperformance or breach. Accordingly, notwithstanding Section 18 (Arbitration), any Party shall be entitled to seek, in courts of the State of North Carolina, County of Mecklenburg, and the United States District Court for the Western District of North Carolina, a temporary restraining order, preliminary injunction, or other preliminary equitable relief, to prevent any breach or threatened breach of this Agreement and to preserve the status quo (without posting a bond or other security) until an arbitration of the underlying dispute can be held.

**11. <u>Survival of Provisions.</u>** The obligations contained in Sections 6 through 10, 12, 18 and 20 of this Agreement shall survive the termination of the Executive's employment with the Company and shall be fully enforceable thereafter.

**12. <u>Notices.</u>** For the purposes of this Agreement, notices, demands and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been given when delivered by email with return receipt requested, upon the obtaining of a valid return receipt from the recipient, by hand or mailed by nationally recognized overnight delivery service, addressed to the Parties' addresses specified below or to such other address as any Party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt:

<u>To the Company:</u>

T1V, Inc.

Attn: Michael Feldman, Chief Executive Officer

5025 West W.T. Harris Boulevard, Suite A

Charlotte, NC 28269

<u>With a copy (which shall not constitute notice) to:</u>

Hutchison PLLC

701 Corporate Center Dr., Suite 250

Raleigh, NC 27607

Attn: John Rudd

Email: jrudd@hutchlaw.com

<u>To the Executive:</u>

Mr. James Morris

***[Address]***

***[Email]***

**13. <u>Tax Matters.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Withholding.</u>** The Company may withhold from any and all amounts payable hereunder any such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Code Section 409A.</u>** The payments described in this Agreement are intended either to comply with the requirements of Code Section 409A, to the extent they are subject to Code Section 409A, or to be exempt from such requirements, regulations, and guidance (where an exemption is available) and will be construed accordingly. Notwithstanding any other provision of this Agreement, the Parties agree that the Company has the right, to the extent the Company deems necessary or advisable, in its sole discretion, to unilaterally amend this Agreement to ensure that the payments hereunder comply with Section 409A. The Company is not responsible for and makes no representation or warranty whatsoever in connection with the tax treatment hereunder, and the Executive should consult his own tax advisor, including without limitation the applicability of Code Section 409A as to the tax effect of amounts payable to the Executive under this Agreement. In any case, the Executive shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on the Executive in connection with this Agreement (including any taxes and penalties under Code Section 409A), and neither the Company nor any of its affiliates shall have any obligation to indemnify or otherwise hold the Executive harmless from any or all of such taxes or penalties.

**14. <u>Assignment.</u>** The Executive may not assign any part of the Executive's rights or obligations under this Agreement. The Executive agrees and hereby consents that the Company may assign this Agreement, without the consent of the Executive, to a parent company or affiliate, or to a third party that acquires or succeeds to the Company's business, that the provisions hereof are enforceable against the Executive by such assignee or successor in interest, and that this Agreement shall become an obligation of, inure to the benefit of, and be assigned to, any such assignees or legal successors to the Company.

**15. <u>Headings.</u>** Titles or captions of sections or paragraphs contained in this Agreement are intended solely for the convenience of reference, and shall not serve to define, limit, extend, modify, or describe the scope of this Agreement or the meaning of any provision hereof. The language used in this Agreement is deemed to be the language chosen by the Parties to express their mutual intent, and no rule of strict construction will be applied against any person.

**16. <u>Severability.</u>** The provisions of this Agreement are severable. The unenforceability or invalidity of any provision or portion of this Agreement in any jurisdiction shall not affect the validity, legality, or enforceability of the remainder of this Agreement, it being intended that all rights and obligations of the Parties hereunder shall be enforceable to the full extent permitted by applicable law.

**17. <u>Governing Law; Venue.</u>** This Agreement, the rights and obligations of the Parties hereto, and any claims or disputes relating thereto, shall be governed by, and construed in accordance with the laws of the State of North Carolina (without regard to its conflicts of laws provisions). Except as provided in Section 17 (Arbitration) of this Agreement, the Parties consent to the personal jurisdiction of the State of North Carolina and further agree to the exclusive jurisdiction of the courts of the State of North Carolina, County of Mecklenburg and the United States District Court for the Western District of North Carolina, as applicable, in connection with, or incident to, any dispute, claim, case, controversy or matter arising out of or relating to Executive's employment or this Agreement, to the exclusion of the courts of any other state, territory or country. The Parties knowingly, willingly, and voluntarily, **WAIVE ALL RIGHT TO TRIAL BY JURY** in any such proceedings.

**18. <u>Arbitration.</u>** Any dispute, controversy or claim arising out of or relating to this Agreement, its enforcement, arbitrability or interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of its provisions and Employee's employment with the Company, including any alleged violation of statute, common law, or public policy, shall be submitted to final and binding arbitration before the American Arbitration Association ("**AAA**") to be held in Charlotte, North Carolina, before a single arbitrator, in accordance with then-current AAA Employment Arbitration Rules. The arbitrator shall issue a written opinion stating the essential findings and conclusions on which the arbitrator's award is based. Company will pay the arbitrator's fees and arbitration expenses and any other costs unique to the arbitration hearing (recognizing that each side bears its own deposition, witness, expert and attorney's fees and other expenses to the same extent as if the matter were being heard in court). If, however, any party prevails on a statutory claim that affords the prevailing party attorneys' fees and costs, then the arbitrator may award reasonable attorneys' fees and costs to the prevailing party. Any dispute as to who is a prevailing party and/or the reasonableness of any fee or costs shall be resolved by the arbitrator.

________ By initialing here, Executive acknowledges he has read this paragraph and agrees with the arbitration provision herein.

**19. <u>Directors' and Officers' Insurance</u>.** The Company or any successor to the Company shall purchase and maintain, at its own expense, directors' and officers' liability insurance providing coverage for the Executive on terms that are no less favorable than the coverage provided to directors and to similarly situated executives of the Company or any successor.

**20. <u>Waiver; Modification.</u>** No provision of this Agreement may be modified, waived, or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and a duly authorized officer of the Company. No waiver by either Party hereto at any time of any breach by the other Party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other Party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

**21. <u>Recitals; Entire Agreement.</u>** The Recitals are hereby incorporated into this Agreement. This Agreement sets forth the entire agreement of the Parties with respect to the subject matter contained herein and supersedes any and all prior agreements or understandings between the Executive and the Company with respect to the subject matter hereof. No agreements, inducements, or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either Party which are not expressly set forth in this Agreement and the Transfer Agreement.

**22. <u>Counterparts.</u>** This Agreement may be executed in counterparts, and each executed counterpart shall have the efficacy of a signed original and may be transmitted by facsimile or email. Each copy, facsimile copy, or emailed copy of any such signed counterpart may be used in lieu of the original for any purpose.

**IN WITNESS WHEREOF,** the Parties hereto have executed this Executive Employment Agreement effective as of the IPO Effective Date.

**T1V, INC.**

By:   <br> Michael Feldman <br> Chief Executive Officer

---

| |
|:---|
| **EXECUTIVE** |
| **James Morris** |

---

**<u>EXHIBIT A</u>**

**General Release and Covenant Not to Sue**

**TO ALL WHOM THESE PRESENTS SHALL COME OR MAY CONCERN, KNOW THAT**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **James Morris**, ("<u>Executive</u>"), on Executive's own behalf and on behalf of Executive's descendants, dependents, heirs, executors and administrators and permitted assigns, past and present, in consideration for the amounts payable and benefits to be provided to Executive under that employment agreement dated as of ______________, 2023 (the "<u>Employment Agreement</u>") by and between Executive and **T1V, Inc.** ("<u>Company</u>"), does hereby covenant not to sue or pursue any litigation or arbitration against, and waives, releases and discharges the Company, its assigns, affiliates, subsidiaries, parents, predecessors and successors, and the past and present employees, officers, directors, representatives and agents of any of them, including but not limited to the Company (collectively, the "<u>Releasees</u>"), from any and all claims, demands, rights, judgments, defenses, actions, charges or causes of action whatsoever, of any and every kind and description, whether known or unknown, accrued or not accrued, that Executive ever had, now has or shall or may have or assert as of the date of this General Release and Covenant Not to Sue against the Releasees relating to his employment with the Company or the termination thereof, or his service as an officer or director of the Company or of any subsidiary or affiliate of the Company, or the termination of such service, including, without limiting the generality of the foregoing, any claims, demands, rights, judgments, defenses, actions, charges or causes of action related to employment or termination of employment or that arise out of or relate in any way to the Age Discrimination in Employment Act of 1967, the National Labor Relations Act, the Civil Rights Act of 1991, the Americans With Disabilities Act of 1990, Title VII of the Civil Rights Act of 1964, the Employee Retirement Income Security Act of 1974, the Family and Medical Leave Act, the Sarbanes-Oxley Act of 2002, all as amended, any claims under North Carolina laws, including, but not limited to, the Retaliatory Employment Discrimination Act, the North Carolina Persons with Disabilities Protection Act, the Equal Employment Practices Act, the Sickle Cell and Hemoglobin Trait Discrimination Act, the Genetic Testing and Information Discrimination Act, the Use of Lawful Products Discrimination Act, the AIDS and HIV Status Discrimination Act, the Jury Service Discrimination Act, the Military Service Discrimination Act, and any other Federal, state and local laws relating to discrimination on the basis of age, sex or other protected class, wages and hours, or leave from work, and all claims under Federal, state or local laws for express or implied breach of contract, wrongful discharge, defamation, intentional infliction of emotional distress, and any related claims for attorneys' fees and costs; *provided, however*, that nothing herein shall release the Company from: (a) its obligation to pay the amounts, and provide the benefits, upon which this General Release and Covenant Not to Sue is conditioned; (b) any rights Executive may have to indemnification from claims by shareholders or third-parties under any law, charter, or by-laws (or similar documents) of, or any agreement with, any member of the Releasees; (c) any right or claim of contribution Executive may have with respect to any third-party claim; or (d) any insurance coverage under any directors' and officers' insurance or similar policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Executive further agrees that this General Release and Covenant Not to Sue may be pleaded as a full defense to any action, suit or other proceeding covered by the terms hereof that is or may be initiated, prosecuted, or maintained by Executive or Executive's heirs or assigns. Executive understands and confirms that Executive is executing this General Release and Covenant Not to Sue voluntarily and knowingly, but that this General Release and Covenant Not to Sue does not affect Executive's right to claim otherwise under ADEA. In addition, Executive shall not be precluded by this General Release and Covenant Not to Sue from filing a charge with any relevant Federal, state, or local administrative agency, but Executive agrees to waive Executive's rights with respect to any monetary or other financial relief arising from any such administrative proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. In furtherance of the agreements set forth above, Executive hereby expressly waives and relinquishes any and all rights under any applicable statute, doctrine, or principle of law, restricting the right of any person to release claims that such person does not know or suspect to exist at the time of executing a release, which claims, if known, may have materially affected such person's decision to give such a release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. In the event any of the Releasees brings a civil action or arbitration proceeding against Executive (other than a civil action or arbitration proceeding to enforce this General Release and Covenant Not to Sue) then this General Release and Covenant Not to Sue shall be of no further force and effect and Executive shall be permitted to bring claims against the Releasees that would have been otherwise barred by this General Release and Covenant Not to Sue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. This General Release and Covenant Not to Sue shall be governed by and construed in accordance with the laws of the State of North Carolina applicable to agreements made and to be performed entirely within such state without regard to principles of conflicts of laws, *provided, however*, that the arbitration provisions of the Employment Agreement shall be governed solely by the Federal Arbitration Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. To the extent that Executive is forty (40) years of age or older, this paragraph shall apply. Executive acknowledges that Executive has been offered a period of time of at least forty-five (45) days to consider whether to sign this General Release and Covenant Not to Sue, which Executive has waived, and the Company agrees that Executive may cancel this General Release and Covenant Not to Sue at any time during the seven (7) days following the date on which this General Release and Covenant Not to Sue has been signed by all parties to this General Release and Covenant Not to Sue. To cancel or revoke this General Release and Covenant Not to Sue, Executive must deliver to the Company written notice stating that Executive is canceling or revoking this General Release and Covenant Not to Sue. If this General Release and Covenant Not to Sue is timely cancelled or revoked, none of the provisions of this General Release and Covenant Not to Sue shall be effective or enforceable and the Company shall not be obligated to make the payments to Executive or to provide Executive with the other benefits described in Section 4 of the Employment Agreement, and all contracts and provisions modified, relinquished or rescinded hereunder shall be reinstated to the extent in effect immediately prior hereto. Executive is hereby advised to seek legal counsel prior to signing this General Release and Covenant Not to Sue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Executive acknowledges and agrees that Executive has entered this General Release and Covenant Not to Sue knowingly and willingly and has had ample opportunity to consider the terms and provisions of this General Release and Covenant Not to Sue.

**IN WITNESS WHEREOF**, the undersigned has caused this General Release and Covenant Not to Sue to be executed on this _____day of ________________, 20__.

**James Morris**

## Exhibit 10.3

**Exhibit 10.3**

**<u>EXECUTIVE EMPLOYMENT AGREEMENT</u>**

**THIS EXECUTIVE EMPLOYMENT AGREEMENT** (this "<u>Agreement</u>") is made as of , 2023, and entered into by and between T1V, Inc. (the "<u>Company</u>"), and Adam Loritsch (the "<u>Executive</u>") (each a "<u>Party</u>," or, collectively, the "<u>Parties</u>") to be effective as of the date of the consummation of the Company's initial public offering of common stock (the "IPO Effective Date").

**WHEREAS**, the Company has employed the Executive and wishes to continue to employ him on the terms set forth in this Agreement; and

**WHEREAS**, Executive wishes to remain employed on the terms set forth herein.

**NOW, THEREFORE,** in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Parties agree as follows:

**1. <u>Past Agreements/Employment Term.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a)** All past agreements of employment, oral or written, between the Company and Executive, shall, as of the IPO Effective Date, terminate and be of no further force or effect. For the avoidance of doubt, it is expressly stated that Executive remains entitled to any deferred wages, salary, bonuses or other cash compensation, any unreimbursed expenses, and any grants of equity or options, to which Executive became entitled under any past employment agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b)** The Company agrees to employ the Executive "at will" pursuant to the terms of this Agreement and the Executive agrees to be so employed. Nothing in this Agreement is intended to create a promise or representation of continued employment or employment for a fixed period of time. The period of time between the IPO Effective Date and the termination of the Executive's employment shall be referred to as the "<u>Term</u>."

**2. <u>Position and Duties.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Title.</u>** The Company hereby agrees to continue to employ the Executive to serve as Executive Vice President of Sales and Marketing of the Company, subject to the power of the Chief Executive Office ("<u>CEO</u>") to expand, limit or otherwise alter such duties, responsibilities, title, position and authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Reporting Relationships and Duties.</u>** The Executive shall: (i) report to the CEO; and (ii) be responsible for all sales, marketing, project management, customer support and customer success activity and shall have all duties, authorities, and responsibilities commensurate with those of persons in similar capacities in similarly sized companies, and such other duties, authorities, and responsibilities as may reasonably be assigned to the Executive by the CEO. Additionally, if nominated to serve as a director of the Company, or of any Company affiliate, Executive shall accept such nomination and, if elected, shall serve as a director for no additional compensation beyond what is provided under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Full-Time Commitment/Policies</u>.** Throughout the Executive's employment, the Executive shall devote substantially all of his professional time to the performance of his duties of employment with the Company (except as otherwise provided herein) and shall faithfully and industriously perform such duties. The Executive will be required to comply with all Company policies as may exist and be in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Executive Representations.</u>** The Executive represents and warrants to the Company that he is under no obligations or commitments, whether contractual or otherwise, that are inconsistent with his obligations under this Agreement. The Executive represents and warrants that he will not use or disclose, in connection with his employment by the Company, any trade secrets, proprietary information, or intellectual property in which any other person has any right, title or interest and that his employment by the Company as contemplated by this Agreement will not infringe or violate the rights of any other person.

**3. <u>Compensation and Benefits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Base Salary.</u>** <u>I</u>n consideration for his work under the terms of this Agreement, the Company shall pay to the Executive a base salary at a rate of $200,000.00 (Two Hundred Thousand Dollars) per year ("<u>Base Salary</u>") in arrears on the last day of each month of the Term, or more frequently, in accordance with the regular payroll practices of the Company. The Base Salary shall be subject to such deductions and withholdings as are required by law and otherwise elected by the Executive. If the Term ends other than on the last day of a month the last salary payment shall be pro-rated based on the number of days in the month that have passed as of the date of termination. The Base Salary shall be reviewed annually by the CEO and the Board of Directors of the Company (the "<u>Board</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***b)* <u>Quarterly Bonus.</u>** In addition to the Base Salary, Executive will be eligible for a discretionary incentive bonus for each fiscal quarter of the Company. Whether Executive is awarded any bonus for a given fiscal quarter, and the amount of the bonus (if any), will be determined by the Board in its sole discretion based on the Company's achievement of objective or subjective criteria established by the Company's management team and approved by the Board. The bonus for a given fiscal quarter will be paid within forty-five (45) days after the close of that fiscal quarter, and Executive must remain actively employed by the Company at the time of payment in order to earn the bonus for that fiscal quarter. The determination of the Board with respect to Executive's bonus will be final and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Stock-Based Compensation Awards.</u>** Subject to the approval of the Board and Executive's continued employment by the Company on the date of the grant, the Company will grant Executive a stock option to purchase up to [1,000] shares of the Company's Class A Common Stock, as adjusted for any stock splits, stock dividends, combinations, subdivisions, recapitalizations or the like (the "<u>Option</u>"). The Option will be subject to the terms of the T1V, Inc. 2023 Equity Incentive Plan (the "<u>Equity Plan</u>") as described in the applicable stock option agreement. Such Option will have an exercise price equal to the fair market value of the Company's Class A Common Stock as determined by the Board and will vest 50% as of the date of grant, with the balance of the Option vesting in equal annual installments over the following two (2) years of continuous service. The Company may, from time to time and in its sole and absolute discretion, grant Executive additional stock based compensation awards subject to the terms of the Equity Plan. Executive shall be responsible for all income taxes imposed as a result of such grants except the Company's share of FICA taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Benefits.</u>** Executive shall be eligible for any fringe benefits offered by the Company on the same terms and conditions as other executives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Paid Time Off.</u>** Executive shall be entitled to paid vacation days and paid sick days in accordance with the Company's policies. Executive shall also be entitled to paid time off on holidays recognized by the Company. The Company shall not pay Executive for accrued and unused vacation or sick days when Executive's employment terminates for any reason.

**4. <u>Termination of Employment.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Notice of Termination.</u>** A party may terminate Executive's employment by giving written notice of such termination in accordance with the notice provisions of this Agreement. Termination will become effective upon a party's receipt of notice of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Termination for Any Reason.</u>** In the event the Executive's employment terminates for any reason, then: (i) the Company shall pay to the Executive the Base Salary earned through the date of termination; (ii) the Company shall reimburse the Executive for any expenses incurred through the date of termination for which the Executive is entitled to reimbursement; (iii) the Executive's rights under any benefit plans, programs, or arrangements of the Company shall be determined in accordance with the provisions thereof; and (iv) any stock-based compensation grants shall be governed by the terms of the Equity Plan or any other deferred compensation plan that applies to such stock-based compensation. The items in subparagraphs (i) – (iv) are referred to hereinafter as the "<u>Accrued Amounts</u>." For the avoidance of doubt, in the event that the Executive's employment is terminated by the Company without Cause, or Executive resigns for Good Reason, then Executive will be entitled, without duplication, to the additional amounts as set forth in, and pursuant to the term of, <u>Section 3(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Termination Without Cause, Resignation for Good Reason</u>**. In the event the Executive's employment is terminated by the Company without Cause, or Executive resigns for Good Reason, then the Company shall provide the Executive with: (i) the Accrued Amounts; (ii) severance pay in the form of nine months' base salary paid over a nine-month period and reimbursement of group health insurance premiums for nine months if Executive is eligible to continue Executive's group health benefits under COBRA or any state law equivalent and elects to do so ("<u>Severance Pay</u>"). Executive's receipt of Severance Pay is subject to: (x) Executive's written resignation from the Board and any officer positions on the Board effective within five (5) days after Executive's employment terminates; and (y) the Executive's execution and delivery of a release of claims in favor of the Company, its affiliates, and their respective agents, officers, and directors, in the form annexed hereto as <u>Exhibit "A"</u> (the "<u>Release</u>") and such Release becoming effective within forty-five (45) days following the Termination Date (such 45-day period, the "<u>Release Execution Period</u>"). Severance payments will be made beginning seven (7) days after any revocation period in the Release has expired and the first such payment shall include all payments that would have occurred had the Release become effective on the date Executive's employment terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Cause</u>**. The term "<u>Cause</u>" means Executive's: (i) gross and willful misconduct in connection with the performance of his duties and responsibilities; (ii) commission of fraud or embezzlement in connection with his duties hereunder; (iii) material misrepresentation or a material act of dishonesty in connection with his duties hereunder; (iv) conviction of, or a plea of guilty or nolo contendere to, a felony, or a misdemeanor involving moral turpitude; (v) willful and repeated refusal or failure to follow specific, lawful, directions of the CEO that are consistent with his position and this Agreement; or (v) the Company's reasonable determination that Executive has engaged in: (a) unlawful discriminatory harassment of an employee; (b) unlawful retaliation against an employee for exercising rights protected under applicable law, or (c) the material breach of this Agreement that causes material damage to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Notice and Cure of Cause Condition</u>**. Except for a failure, breach, or refusal which, by its nature, is not reasonably susceptible of cure, the Executive shall have thirty (30) calendar days from the delivery of written notice by the Company, which notice shall describe in reasonable detail the conduct alleged to constitute Cause, within which to cure any acts constituting Cause. The Company may place the Executive on paid leave for up to forty (40) days while it is determining whether there is a basis to terminate the Executive's employment for Cause. The Executive shall continue to be entitled to all compensation and benefits during any such paid leave. Any such action by the Company will not constitute Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**f) <u>Good Reason</u>**. The term "<u>Good Reason</u>" means: (i) the material breach by the Company of any material provision of this agreement; or (ii) reduction of Executive's Base Salary; or (iii) material diminution in Executive's title, position, or compensation or benefits, without Executive's prior written consent; or (iv) the Company's relocation of Executive's office to a location more than 50 miles from the office Executive is required to report to as of the IPO Effective Date without the Executive's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**g) <u>Notice and Cure of Good Reason Condition</u>**. In order to resign for Good Reason, Executive must give the Company written notice of the Good Reason condition within 90 days of when the Executive becomes aware of the Good Reason condition, allow the Company 30 days to cure the Good Reason condition, and, if the Company fails to cure, resign within 45 days after giving the Company written notice of the Good Reason condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**h) <u>Effect of Termination upon Benefits</u>**. Except for benefits under COBRA required to be provided by law, all benefits shall terminate pursuant to the terms of the applicable benefit plans based on the date of termination of the Executive's employment without regard to any continuation of Base Salary or other payment to the Executive following such date of termination.

**5. <u>Business Expenses.</u>** Upon presentation of reasonable substantiation and documentation as the Company may specify from time to time, the Executive shall be reimbursed in accordance with the Company's expense reimbursement policy, for all reasonable out-of-pocket business expenses incurred and paid by the Executive during the Term and in connection with the performance of the Executive's duties hereunder. To the extent the Executive is provided with the use of the Company's credit or charge card for purposes of business expenses, such credit or charge card shall not be used to incur any personal (non-business-related) expenses; any personal expenses inadvertently charged to such card shall be reimbursed immediately by the Executive to the Company.

**6. <u>Confidentiality and Intellectual Property.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Confidential Information.</u>** The Executive acknowledges that the Executive will occupy a position of trust and confidence. The Company, from time to time, may disclose to the Executive, and the Executive will require access to and may generate confidential and proprietary information (no matter how created or stored) concerning the business practices, products, services, and operations of the Company which is not known to its competitors or within its industry generally and which is of great competitive value to it, including, but not limited to: (i) Trade Secrets, inventions, mask works, ideas, concepts, drawings, materials, documentation, procedures, diagrams, specifications, models, processes, formulae, source and object codes, data, software, programs, other works of authorship, know-how, improvements, discoveries, developments, designs and techniques; (ii) information regarding research, development, products, marketing plans, market research and forecasts, bids, proposals, quotes, business plans, budgets, financial information and projections, overhead costs, profit margins, pricing policies and practices, accounts, processes, planned collaborations or alliances, licenses, suppliers and customers; (iii) operational information including deployment plans, means and methods of performing services, operational needs information, and operational policies and practices; and (iv) any information obtained by the Company from any third party that the Company treats or agrees to treat as confidential or proprietary information of the third party (collectively, "<u>Confidential Information</u>"). The Executive acknowledges and agrees that Confidential Information includes Confidential Information disclosed to the Executive prior to entering into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Trade Secrets.</u>** "<u>Trade Secrets</u>" means any information, including any data, plan, drawing, specification, pattern, procedure, method, computer data, system, program or design, device, list, tool, or compilation, that relates to the present or planned business of the Company and which: (i) derives economic value, actual or potential, from not being generally known to, and not readily ascertainable by proper means to, other persons who can obtain economic value from their disclosure or use; and (ii) is the subject of efforts that are reasonable under the circumstances to maintain their secrecy. To the extent that the foregoing definition is inconsistent with a definition of "trade secret" under applicable law, the latter definition shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c) <u>Restrictions On Use and Disclosure of Confidential Information.</u>** The Executive recognizes that the Company's business interests require the full protection of its Confidential Information. The Executive agrees during his employment and after his employment ends, the Executive will hold the Confidential Information in strict confidence and will neither use the information nor disclose it to anyone, except to the extent necessary to carry out the Executive's responsibilities as an employee of the Company or as specifically authorized in writing by a duly authorized officer of the Company. The Parties agree that the restrictions in this Section will not apply to any portion of the Confidential Information which: (i) was known to the public prior to its disclosure to the Executive; (ii) becomes generally known to the public subsequent to disclosure to the Executive through no wrongful act of the Executive; or (iii) the Executive is required to disclose by applicable law, regulation or legal process (provided, if permitted, that the Executive provides the Company with prior notice of the contemplated disclosure and cooperates with the Company at its expense in seeking to protect such information). Nothing in this Agreement shall be deemed to prohibit the Executive from disclosing any concerns about suspected unlawful conduct to any proper government authority subject to proper jurisdiction. This provision shall survive the termination of the Executive's employment for so long as the Company maintains the secrecy of the Confidential Information and the Confidential Information has competitive value; and to the extent such information is otherwise protected by statute for a longer period, for example and not by way of limitation, the Defend Trade Secrets Act of 2016 ("<u>DTSA</u>"), then until such information ceases to have statutory protection.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d) <u>Defend Trade Secrets Act.</u>** Misappropriation of a Trade Secret of the Company in breach of this Agreement may subject the Executive to liability under the DTSA, entitle the Company to injunctive relief, and require the Executive to pay compensatory damages, double damages, and attorneys' fees to the Company. Notwithstanding any other provision of this Agreement, the Executive hereby is notified in accordance with the DTSA that the Executive will not be held criminally or civilly liable under a federal or state law for the disclosure of a trade secret that is made in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. If the Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, the Executive may disclose the trade secret to the Executive's attorney and use the trade secret information in the court proceeding, provided that the Executive must file any document containing the trade secret under seal, and must not disclose the trade secret, except pursuant to court order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e) <u>Ownership of Inventions.</u>** All ideas, data, deliverables, reports, work products, innovations, improvements, know-how, inventions, designs, developments, techniques, methods and other results of the Executive's employment with the Company (in draft and final forms), and all related documentation (such as, but not limited to, notes, records, documents, drawings, and designs), which the Executive makes, conceives, reduces to practice, or develops in whole or in part, either alone or jointly with others, in connection with his services to the Company or which relate to any Confidential Information (collectively, the "<u>Inventions</u>") will be the sole and exclusive property of the Company , and will be considered "works made for hire" pursuant to the United States Copyright Act (17 U.S.C. Section 101). The Executive hereby assigns to the Company or its designees all of the Executive's right, title and interest in and to all of the foregoing without compensation. To the extent the Executive has any "moral rights" in the Inventions which are not assignable by law, the Executive hereby waives any such moral rights relating to the Inventions, including any and all rights of identification of authorship and any and all rights of approval, restriction or limitation on use or subsequent modifications. The Executive further represents that, to the best of the Executive's knowledge and belief, none of the Inventions that the Executive creates will violate or infringe upon any right, patent, copyright, trademark or right of privacy, or constitute libel or slander against or violate any other rights of any person, firm, or corporation, and that the Executive will use the Executive's commercially reasonable efforts to prevent any such violation.

**7. <u>Covenants Not To Compete or Solicit</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Non-Competition.</u>** During the Term and for a period of twelve months immediately following the end of the Term, Executive shall not, anywhere within the United States, either as principal, agent, employee, consultant, partner, officer, director, shareholder, or in any other individual or representative capacity, own (more than 5%), manage, finance, operate, control or otherwise engage or participate in any manner or fashion in any business engaged in the same or similar business as the Company, including those engaged in the business of researching, developing, marketing, commercializing, selling, providing customer and technical support for and distributing interactive visual collaboration solutions, including hardware and software products for large format multi-touch touch-screen devices and visual collaboration devices for use in corporate, healthcare, educational, retail and direct to consumer settings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Non-Solicitation of Personnel.</u>** During the Term, and for a period of twelve (12) months immediately following the end of the Term, the Executive shall not, directly, or indirectly, solicit, induce, recruit, or encourage any Protected Personnel of the Company to leave their employment, or end their engagement with the Company, to provide services for the Executive or any other person, business, or organization. "<u>Protected Personnel</u>" means: (i) any person currently employed or engaged as an independent contractor by the Company; and (ii) any former employee or independent contractor of the Company, for a period of three (3) months after termination of such employee's employment, or independent contractor's engagement, with the Company.

**8. <u>Return of Property.</u>** On the date of the Executive's termination of employment with the Company for any reason (or at any time prior thereto at the Company's request), the Executive shall return all property belonging to the Company or its affiliates and not retain any copies, including, but not limited to, any keys, access cards, badges, laptops, computers, cell phones, wireless electronic mail devices, USB drives, other equipment, documents, reports, files, and other property provided by or belonging to the Company or the Company.

**9. <u>Non-Disparagement.</u>** During the Executive's employment and following termination of employment for whatever reason, the Executive shall not, directly, or indirectly, make or publish denigrating or derogatory remarks, comments, or statements (whether written or oral) in any forum or through any medium of communication regarding the Company, its services, or any of its owners, managers, officers, employees, or consultants. Notwithstanding the foregoing, nothing in this section shall or shall be deemed to prevent or impair the Executive from making truthful statements in any legal or administrative proceeding or from otherwise complying with legal requirements.

**10. <u>Enforcement.</u>** The Parties agree that the Funds may be damaged irreparably in the event that any provision of Sections 6, 7, 8, or 9 of this Agreement are not performed in accordance with their terms or are otherwise breached and that money damages would be an inadequate remedy for any such nonperformance or breach. Accordingly, notwithstanding Section 18 (Arbitration), any Party shall be entitled to seek, in courts of the State of North Carolina, County of Mecklenburg, and the United States District Court for the Western District of North Carolina, a temporary restraining order, preliminary injunction, or other preliminary equitable relief, to prevent any breach or threatened breach of this Agreement and to preserve the status quo (without posting a bond or other security) until an arbitration of the underlying dispute can be held.

**11. <u>Survival of Provisions.</u>** The obligations contained in Sections 6 through 10, 12, 18 and 20 of this Agreement shall survive the termination of the Executive's employment with the Company and shall be fully enforceable thereafter.

**12. <u>Notices.</u>** For the purposes of this Agreement, notices, demands and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been given when delivered by email with return receipt requested, upon the obtaining of a valid return receipt from the recipient, by hand or mailed by nationally recognized overnight delivery service, addressed to the Parties' addresses specified below or to such other address as any Party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt:

<u>To the Company:</u>

T1V, Inc.

Attn: Michael Feldman, Chief Executive Officer

5025 West W.T. Harris Boulevard, Suite A

Charlotte, NC 28269

<u>With a copy (which shall not constitute notice) to:</u>

Hutchison PLLC

701 Corporate Center Dr., Suite 250

Raleigh, NC 27607

Attn: John Rudd

Email: jrudd@hutchlaw.com

<u>To the Executive:</u>

Mr. Adam Loritsch

***[Address]***

***[Email]***

**13. <u>Tax Matters.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a) <u>Withholding.</u>** The Company may withhold from any and all amounts payable hereunder any such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b) <u>Code Section 409A.</u>** The payments described in this Agreement are intended either to comply with the requirements of Code Section 409A, to the extent they are subject to Code Section 409A, or to be exempt from such requirements, regulations, and guidance (where an exemption is available) and will be construed accordingly. Notwithstanding any other provision of this Agreement, the Parties agree that the Company has the right, to the extent the Company deems necessary or advisable, in its sole discretion, to unilaterally amend this Agreement to ensure that the payments hereunder comply with Section 409A. The Company is not responsible for and makes no representation or warranty whatsoever in connection with the tax treatment hereunder, and the Executive should consult his own tax advisor, including without limitation the applicability of Code Section 409A as to the tax effect of amounts payable to the Executive under this Agreement. In any case, the Executive shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on the Executive in connection with this Agreement (including any taxes and penalties under Code Section 409A), and neither the Company nor any of its affiliates shall have any obligation to indemnify or otherwise hold the Executive harmless from any or all of such taxes or penalties.

**14. <u>Assignment.</u>** The Executive may not assign any part of the Executive's rights or obligations under this Agreement. The Executive agrees and hereby consents that the Company may assign this Agreement, without the consent of the Executive, to a parent company or affiliate, or to a third party that acquires or succeeds to the Company's business, that the provisions hereof are enforceable against the Executive by such assignee or successor in interest, and that this Agreement shall become an obligation of, inure to the benefit of, and be assigned to, any such assignees or legal successors to the Company.

**15. <u>Headings.</u>** Titles or captions of sections or paragraphs contained in this Agreement are intended solely for the convenience of reference, and shall not serve to define, limit, extend, modify, or describe the scope of this Agreement or the meaning of any provision hereof. The language used in this Agreement is deemed to be the language chosen by the Parties to express their mutual intent, and no rule of strict construction will be applied against any person.

**16. <u>Severability.</u>** The provisions of this Agreement are severable. The unenforceability or invalidity of any provision or portion of this Agreement in any jurisdiction shall not affect the validity, legality, or enforceability of the remainder of this Agreement, it being intended that all rights and obligations of the Parties hereunder shall be enforceable to the full extent permitted by applicable law.

**17. <u>Governing Law; Venue.</u>** This Agreement, the rights and obligations of the Parties hereto, and any claims or disputes relating thereto, shall be governed by, and construed in accordance with the laws of the State of North Carolina (without regard to its conflicts of laws provisions). Except as provided in Section 17 (Arbitration) of this Agreement, the Parties consent to the personal jurisdiction of the State of North Carolina and further agree to the exclusive jurisdiction of the courts of the State of North Carolina, County of Mecklenburg and the United States District Court for the Western District of North Carolina, as applicable, in connection with, or incident to, any dispute, claim, case, controversy or matter arising out of or relating to Executive's employment or this Agreement, to the exclusion of the courts of any other state, territory or country. The Parties knowingly, willingly, and voluntarily, **WAIVE ALL RIGHT TO TRIAL BY JURY** in any such proceedings.

**18. <u>Arbitration.</u>** Any dispute, controversy or claim arising out of or relating to this Agreement, its enforcement, arbitrability or interpretation, or because of an alleged breach, default, or misrepresentation in connection with any of its provisions and Employee's employment with the Company, including any alleged violation of statute, common law, or public policy, shall be submitted to final and binding arbitration before the American Arbitration Association ("**AAA**") to be held in Charlotte, North Carolina, before a single arbitrator, in accordance with then-current AAA Employment Arbitration Rules. The arbitrator shall issue a written opinion stating the essential findings and conclusions on which the arbitrator's award is based. Company will pay the arbitrator's fees and arbitration expenses and any other costs unique to the arbitration hearing (recognizing that each side bears its own deposition, witness, expert and attorney's fees and other expenses to the same extent as if the matter were being heard in court). If, however, any party prevails on a statutory claim that affords the prevailing party attorneys' fees and costs, then the arbitrator may award reasonable attorneys' fees and costs to the prevailing party. Any dispute as to who is a prevailing party and/or the reasonableness of any fee or costs shall be resolved by the arbitrator.

________ By initialing here, Executive acknowledges he has read this paragraph and agrees with the arbitration provision herein.

**19. <u>Directors' and Officers' Insurance</u>.** The Company or any successor to the Company shall purchase and maintain, at its own expense, directors' and officers' liability insurance providing coverage for the Executive on terms that are no less favorable than the coverage provided to directors and to similarly situated executives of the Company or any successor.

**20. <u>Waiver; Modification.</u>** No provision of this Agreement may be modified, waived, or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and a duly authorized officer of the Company. No waiver by either Party hereto at any time of any breach by the other Party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other Party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

**21. <u>Recitals; Entire Agreement.</u>** The Recitals are hereby incorporated into this Agreement. This Agreement sets forth the entire agreement of the Parties with respect to the subject matter contained herein and supersedes any and all prior agreements or understandings between the Executive and the Company with respect to the subject matter hereof. No agreements, inducements, or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either Party which are not expressly set forth in this Agreement and the Transfer Agreement.

**22. <u>Counterparts.</u>** This Agreement may be executed in counterparts, and each executed counterpart shall have the efficacy of a signed original and may be transmitted by facsimile or email. Each copy, facsimile copy, or emailed copy of any such signed counterpart may be used in lieu of the original for any purpose.

**IN WITNESS WHEREOF,** the Parties hereto have executed this Executive Employment Agreement effective as of the IPO Effective Date.

---

| | |
|:---|:---|
| **T1V, INC.** | **T1V, INC.** |
| By: |  |
|  | Michael Feldman |
|  | Chief Executive Officer |

---

**EXECUTIVE**

  <br> Adam Loritsch

**<u>EXHIBIT A</u>**

**General Release and Covenant Not to Sue**

**TO ALL WHOM THESE PRESENTS SHALL COME OR MAY CONCERN, KNOW THAT**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Adam Loritsch**, ("<u>Executive</u>"), on Executive's own behalf and on behalf of Executive's descendants, dependents, heirs, executors and administrators and permitted assigns, past and present, in consideration for the amounts payable and benefits to be provided to Executive under that employment agreement dated as of ______________, 2023 (the "<u>Employment Agreement</u>") by and between Executive and **T1V, Inc.** ("<u>Company</u>"), does hereby covenant not to sue or pursue any litigation or arbitration against, and waives, releases and discharges the Company, its assigns, affiliates, subsidiaries, parents, predecessors and successors, and the past and present employees, officers, directors, representatives and agents of any of them, including but not limited to the Company (collectively, the "<u>Releasees</u>"), from any and all claims, demands, rights, judgments, defenses, actions, charges or causes of action whatsoever, of any and every kind and description, whether known or unknown, accrued or not accrued, that Executive ever had, now has or shall or may have or assert as of the date of this General Release and Covenant Not to Sue against the Releasees relating to his employment with the Company or the termination thereof, or his service as an officer or director of the Company or of any subsidiary or affiliate of the Company, or the termination of such service, including, without limiting the generality of the foregoing, any claims, demands, rights, judgments, defenses, actions, charges or causes of action related to employment or termination of employment or that arise out of or relate in any way to the Age Discrimination in Employment Act of 1967, the National Labor Relations Act, the Civil Rights Act of 1991, the Americans With Disabilities Act of 1990, Title VII of the Civil Rights Act of 1964, the Employee Retirement Income Security Act of 1974, the Family and Medical Leave Act, the Sarbanes-Oxley Act of 2002, all as amended, any claims under North Carolina laws, including, but not limited to, the Retaliatory Employment Discrimination Act, the North Carolina Persons with Disabilities Protection Act, the Equal Employment Practices Act, the Sickle Cell and Hemoglobin Trait Discrimination Act, the Genetic Testing and Information Discrimination Act, the Use of Lawful Products Discrimination Act, the AIDS and HIV Status Discrimination Act, the Jury Service Discrimination Act, the Military Service Discrimination Act, and any other Federal, state and local laws relating to discrimination on the basis of age, sex or other protected class, wages and hours, or leave from work, and all claims under Federal, state or local laws for express or implied breach of contract, wrongful discharge, defamation, intentional infliction of emotional distress, and any related claims for attorneys' fees and costs; *provided, however*, that nothing herein shall release the Company from: (a) its obligation to pay the amounts, and provide the benefits, upon which this General Release and Covenant Not to Sue is conditioned; (b) any rights Executive may have to indemnification from claims by shareholders or third-parties under any law, charter, or by-laws (or similar documents) of, or any agreement with, any member of the Releasees; (c) any right or claim of contribution Executive may have with respect to any third-party claim; or (d) any insurance coverage under any directors' and officers' insurance or similar policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Executive further agrees that this General Release and Covenant Not to Sue may be pleaded as a full defense to any action, suit or other proceeding covered by the terms hereof that is or may be initiated, prosecuted, or maintained by Executive or Executive's heirs or assigns. Executive understands and confirms that Executive is executing this General Release and Covenant Not to Sue voluntarily and knowingly, but that this General Release and Covenant Not to Sue does not affect Executive's right to claim otherwise under ADEA. In addition, Executive shall not be precluded by this General Release and Covenant Not to Sue from filing a charge with any relevant Federal, state, or local administrative agency, but Executive agrees to waive Executive's rights with respect to any monetary or other financial relief arising from any such administrative proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. In furtherance of the agreements set forth above, Executive hereby expressly waives and relinquishes any and all rights under any applicable statute, doctrine, or principle of law, restricting the right of any person to release claims that such person does not know or suspect to exist at the time of executing a release, which claims, if known, may have materially affected such person's decision to give such a release.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. In the event any of the Releasees brings a civil action or arbitration proceeding against Executive (other than a civil action or arbitration proceeding to enforce this General Release and Covenant Not to Sue) then this General Release and Covenant Not to Sue shall be of no further force and effect and Executive shall be permitted to bring claims against the Releasees that would have been otherwise barred by this General Release and Covenant Not to Sue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. This General Release and Covenant Not to Sue shall be governed by and construed in accordance with the laws of the State of North Carolina applicable to agreements made and to be performed entirely within such state without regard to principles of conflicts of laws, *provided, however*, that the arbitration provisions of the Employment Agreement shall be governed solely by the Federal Arbitration Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. To the extent that Executive is forty (40) years of age or older, this paragraph shall apply. Executive acknowledges that Executive has been offered a period of time of at least forty-five (45) days to consider whether to sign this General Release and Covenant Not to Sue, which Executive has waived, and the Company agrees that Executive may cancel this General Release and Covenant Not to Sue at any time during the seven (7) days following the date on which this General Release and Covenant Not to Sue has been signed by all parties to this General Release and Covenant Not to Sue. To cancel or revoke this General Release and Covenant Not to Sue, Executive must deliver to the Company written notice stating that Executive is canceling or revoking this General Release and Covenant Not to Sue. If this General Release and Covenant Not to Sue is timely cancelled or revoked, none of the provisions of this General Release and Covenant Not to Sue shall be effective or enforceable and the Company shall not be obligated to make the payments to Executive or to provide Executive with the other benefits described in Section 4 of the Employment Agreement, and all contracts and provisions modified, relinquished or rescinded hereunder shall be reinstated to the extent in effect immediately prior hereto. Executive is hereby advised to seek legal counsel prior to signing this General Release and Covenant Not to Sue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Executive acknowledges and agrees that Executive has entered this General Release and Covenant Not to Sue knowingly and willingly and has had ample opportunity to consider the terms and provisions of this General Release and Covenant Not to Sue.

**IN WITNESS WHEREOF**, the undersigned has caused this General Release and Covenant Not to Sue to be executed on this _____day of ________________, 20__.

**Adam Loritsch**

## Exhibit 10.4

**Exhibit 10.4**

Execution Version

 

**REVENUE LOAN AND SECURITY AGREEMENT**

THIS REVENUE LOAN AND SECURITY AGREEMENT (as amended from time to time, this "Agreement") is made as of July 1, 2015 (the "**Effective Date**"), by and among:

T1VISIONS, INC., a Delaware corporation,

10430 Harris Oaks Boulevard, Suite F

Charlotte, North Carolina 28269

(the **"Company"**),

and

DECATHLON ALPHA II, L.P., a Delaware limited partnership,

1389 Center Drive, Suite 200

Park City, Utah 84098

(the "**Lender"**).

**BACKGROUND**

Company wishes to borrow from Lender and Lender wishes to lend to Company up to the Revenue Loan Amount as defined below on the terms and conditions of this Agreement. In connection with and as a material inducement to Lender to lend the Revenue Loan Amount to the Company, the Company desires to make certain representations and warranties to Lender.

**AGREEMENT**

The parties hereby agree as follows:

**ARTICLE 1**

**DEFINITIONS AND ACCOUNTING PRINCIPLES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1 Definitions**. Capitalized words and phrases used in this Agreement but not otherwise defined herein have the definitions given in Article 11.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2 Accounting Principles**. The character or amount of any asset, liability, capital account or reserve and of any item of income or expense required to be determined pursuant to this Agreement, and any consolidation or other accounting computation required to be made pursuant to this Agreement, and the construction of any definition in this Agreement containing a financial term, shall be determined or made, as the case may be, in accordance with United States generally accepted accounting principles, to the extent applicable, unless such principles are inconsistent with the express requirements of this Agreement.

**ARTICLE 2**

**ADVANCE, INTEREST AND PAYMENTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1 Revenue Loan Advance**. Upon the terms and subject to the conditions 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;**2.1.1 Initial Advance**. Lender will make the Initial Advance to the Company on the date of Closing.

&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 Subsequent Advance**. Any time beginning fifteen (15) days prior to an AdvanceP eriod through the end of such Advance Period as set forth on <u>Schedule 2.1.2</u>, Company may by delivering to Lender an Advance Request in the form provided by Lender to Company ("**Advance Request**") request one or more Subsequent Advances in accordance with the <u>Schedule 2.1.2</u> up to a maximum for all Advances equal to the Revenue Loan Amount. Within fifteen (15) business days of such receipt of an Advance Request, Lender shall advance to Company the requested amount if (i) the amount of all Advances previously advanced to Company by Lender plus the new Advance so requested does not exceed the Revenue Loan Amount, (ii) the amount of all previous Subsequent Advances plus the new Advance so requested does not exceed the amount of Subsequent Advances permitted as shown on <u>Schedule 2.1.2</u> for the applicable Advance Period, (iii) no Event of Default has occurred, (iv) Company provides Lender with a Certificate of Perfection together with the Advance Request, (v) all representations and warranties of Company in Article 3 are true as of the date of each Subsequent Advance, and (vi) the requested advance is at least $100,000 (or the remaining amount of the available Subsequent Advances, if less than $100,000 in availability remains). Contemporaneously with each Subsequent Advance, Company shall deliver to Lender a certificate signed on behalf of the Company by the Key Person (or other officer of Company acceptable to Lender) confirming that no Event of Default has occurred and that all representations and warranties of Company in Article 3 are true as of such date (except to the extent such representations and warranties expressly relate to an earlier date, in which case as of such earlier date). Lender may, in its sole discretion, waive or modify any one or more of such conditions to any Subsequent Advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1.3 Not a Revolving Facility**. Company acknowledges and agrees that the credit facility granted hereunder is a multiple advance facility, but is not a revolving facility, and Company may not borrow, repay and re-borrow Advances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2 Interest**. Interest on the Outstanding Advance Balance shall accrue from and after the date of Closing at such rate as is necessary to generate the greater of (x) the IRR Target or (y) an amount equal to the Minimum Interest (the **"Interest"**), *provided*, *however*, in no case shall such rate exceed the maximum rate allowable under applicable law. For purposes of calculating the amount of Interest deemed to be paid and the related income and deduction on the Advances made by Lender to the Company, the Company shall use the IRR Target.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3 Promise to Pay**. Company promises to pay to the order of Lender, or its assigns in lawful money of the United States of America, for application against the Outstanding Advance Balance, together with the Interest as follows (with all payments to be applied first to expenses incurred by the Lender, then to accrued interest, and finally to principal; and the Lender shall enter in its records payments made by Company, and such records shall be deemed conclusive evidence of the subject matter thereof unless proven 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;**2.3.1 Maturity**. The Outstanding Advance Balance and accrued but unpaid Interest shall be immediately due and payable on demand on, or any time following, the Maturity 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;**2.3.2 Monthly Payments**. Commencing on the Payment Commencement Date and continuing thereafter until maturity or earlier prepayment in full, Company shall pay to Lender, on the 15th day of each month (or the next business day if such date is not a business day) by wire transfer or Automated Clearing House (ACH) transfer to the Lender Account described on <u>Schedule 2.3.2(a)</u> an amount equal to the product of (x) all Revenue for the immediately preceding month multiplied by (y) the Applicable Revenue Percentage. Also on the 15th day of each month (or the next business day if such date is not a business day), Company shall accurately and fully complete and submit Lender's online financial data questionnaire (each, a "**Monthly Questionnaire**"). For each time the Company fails to submit a Monthly Questionnaire within 30 days after the date on which such Monthly Questionnaire is due, the Company will automatically, and without notice from the Lender, be assessed a $500 service charge and each such service charge will bear interest at the rate set forth in Section 12.7 from the date such service charge arises (*i.e.*, 30 days after the due date of the questionnaire). A pro-forma payment schedule that is based on the Company's financial projections is attached as <u>Schedule 2.3.2(b)</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;**2.3.3 Determination of Applicable Revenue Percentage**. Beginning on December 31, 2015, and on each subsequent December 31 during the term of this Agreement (each, a "**Test Date**"), the Applicable Revenue Percentage will be determined for the following twelve-month period by reference to whether the Company has met the Adjustment Criteria. The Company will be deemed to have met the "**Adjustment Criteria**" if the Company achieves aggregate Revenue equal to at least 60% of the Company's projected Revenue as set forth in <u>Schedule 2.3.2(b)</u> for any 12-month period ending on December 31 during the term of this Agreement (*provided*, that for the year in which this Agreement is executed, such period shall be the period from the Effective Date through December 31 of the year of the Effective Date). If on the applicable Test Date the Company has met the Adjustment Criteria, the Applicable Revenue Percentage for the twelve-month period beginning on the day immediately following such Test Date and ending on the following Test Date (inclusive) will be equal to the Original Revenue Percentage. If on the applicable Test Date the Company has not met the Adjustment Criteria, the Applicable Revenue Percentage for the twelve-month period beginning on the day immediately following such Test Date and ending on the following Test Date (inclusive) will be equal to the Adjusted Revenue Percentage. On any Test Date, Decathlon may waive the Adjustment Criteria and apply the Original Revenue Percentage for the applicable twelve-month period at its sole and absolute discretion. In addition, following expiration of the time of the Advance Period, the Applicable Revenue Percentage will be adjusted in proportion to the amount actually requested and received by the Company in Subsequent Advances, such that the Applicable Revenue Percentage will equal the product of (i) the Original Revenue Percentage or the Adjusted Revenue Percentage (whichever applies at the time), times (ii) the quotient of (x) the Outstanding Advance Balance, divided by (y) the Revenue Loan Amount. By way of example only, if the Company drew a total of $100,000 in Subsequent Advances such that the Outstanding Advance Balance equaled $600,000 upon expiration of the time of the Advance Period, the Applicable Revenue Percentage would be reduced by 20% from 0.50% to 0.40% during any period when the Original Revenue Percentage was in effect and from 1.00% to 0.80% during any period when the the Adjusted Revenue Percentage was in effect. All adjustments to the Applicable Revenue Percentage pursuant to this Section 2.3.3 will be applied prospectively and will not result in a retroactive adjustment to any monthly 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;**2.3.4 Prepayment**. The Company may at its option prepay the outstanding principal balance and accrued but unpaid Interest on any business day without penalty or fees but subject to payment of the Minimum Interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3.5 Termination of Payment Obligation**. The payment obligation shall terminate upon Lender receiving payments from Company equal to the Outstanding Advance Balance, plus the Interest and all other amounts due pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4 Security Interest**. Company hereby assigns and grants to Lender, a continuing security interest in all of its right, title and interest in and to the Collateral, subject to Permitted Liens. Upon indefeasible payment in full of the Obligations and termination of the Lender's obligation to make Advances hereunder, the Lender shall promptly release such security interest; and, in each case, in connection with any such release or termination, Lender will execute and deliver to Company, at Company's sole cost and expense, such documents and instruments evidencing such release or termination as Company may reasonably request and will assign, transfer and deliver to Company such of the Collateral as may then be in the possession of Lender (or, in the case of any partial release of Collateral, such of the Collateral so being released as may be in its possession). Company hereby authorizes Lender to take all such actions as are reasonably necessary to, in Lender's sole discretion, perfect its security interest in the Collateral, including the filing of such financing statements and amendments and continuations thereof as may be useful in order to perfect such security interest and, if any Collateral is covered by a certificate of title, Company will from time to time upon request of Lender execute such documents as may be required to have such security interest properly noted on a certificate of title. In addition, Company authorizes Lender to file, from time to time, (and reaffirms its authorization of the filing of any financing statements filed prior to the date of this Agreement) such financing statements against the Collateral described as "all assets" or the like as Lender reasonably deems necessary or useful to perfect such security interest. The security interest granted to Lender is subordinate to the Senior Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.5 Revival and Reinstatement of Indebtedness**. If the payment of all or any part of the Obligations by Company or the transfer to Lender of any Collateral or other property should for any reason subsequently be declared to be void or voidable under any state or federal law relating to creditors' rights (a "**Voidable Transfer**"), and if Lender is required to repay or restore, in whole or in part, any such Voidable Transfer, or elects to do so upon the advice of its counsel, then the amount of such Voidable Transfer or the amount of such Voidable Transfer that Lender is required or elects to repay or restore, including all reasonable costs, expenses and attorneys' fees incurred by Lender in connection therewith, and the Obligations shall automatically be revived, reinstated and restored by such amount and shall exist as though such Voidable Transfer had never been made.

**ARTICLE 3**

**REPRESENTATIONS AND WARRANTIES**

As a material inducement to Lender to enter into this Agreement and to make one or more Advances to Company, Company represents and warrants as follows (and to the extent Company has any Subsidiaries, each reference to Company in this Article 3 shall also mean and be a reference to each such Subsidiary):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1 Organization, Good Standing and Qualification**. Company is duly organized, validly existing and in good standing under the laws of the state of its organization. Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect. Company has all required power and authority necessary to own and operate its property, to carry on its business as now conducted and presently proposed to be conducted and to carry out the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2 Subsidiaries**. Other than as described on <u>Schedule 3.2</u> hereto, Company does not presently own or control, directly or indirectly, or hold any rights to acquire, any interest in any other entity. Company is not a participant in any joint venture, partnership or similar arrangement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3 Authorization**. All action necessary on the part of Company, its officers, directors and members, for the authorization, execution and delivery of the Transaction Documents, the performance of all Obligations of Company hereunder and thereunder has been taken or will be taken prior to the Closing. The Transaction Documents and all other agreements contemplated thereby to which Company is a party constitute valid and legally binding obligations of Company, enforceable in accordance with their respective terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors' rights generally, (b) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies, and (c) to the extent the indemnification provisions may be limited by applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4 Litigation**. Except as disclosed on <u>Schedule 3.4</u>, there is no action, suit, proceeding or investigation pending or, to Company's knowledge, threatened against Company. The foregoing includes, without limitation, actions, suits, proceedings or investigations pending or, to Company's knowledge, threatened involving the prior employment of any of Company's employees or their obligations under any agreements with prior employers. Company is not subject to the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality. Except as disclosed on <u>Schedule 3.4</u>, there is no action, suit, proceeding or investigation by Company currently pending or that Company intends to initiate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5 Compliance with Other Instruments**. Except as disclosed on <u>Schedule 3.5</u>, Company is not: (i) in violation of or default under any provision of its organizational documents, as amended, (ii) to its knowledge in violation of or default under, in any Material respect, any instrument, judgment, order, writ, decree or contract to which it is a party or by which it is bound, or (iii) to its knowledge in violation of or default under, in any Material respect, any provision of any federal or state statute, rule or regulation applicable to Company. The execution, delivery and performance of the Transaction Documents and the consummation of the transactions contemplated thereby will not result in any such violation, or be in Material conflict with or constitute, with or without the passage of time and giving of notice, either a Material default under any such provision, instrument, judgment, order, writ, decree or contract or an event that results in the creation of any lien, charge or encumbrance upon any assets of Company or the suspension, revocation, impairment, forfeiture or non-renewal of any permit, license, authorization or approval applicable to Company, its business or operations or any of its assets or properties, other than the security interests arising under the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6 Related-Party Transactions**. Except as set forth on <u>Schedule 3.6</u>, no employee, member, officer or director of Company or member of his or her immediate family is indebted to Company, nor is Company indebted (or committed to make loans or extend or guarantee credit) to any of them. To Company's knowledge, none of such persons has any direct or indirect ownership interest in any firm or corporation with which Company is affiliated or with which Company has a business relationship, or any firm or corporation that competes with Company, except that employees, shareholders, officers or directors of Company and members of their immediate families may own up to two percent (2%) of the outstanding stock of one publicly traded company that may compete with Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7 Financial Statements**. The financial statements for the Company's most recently completed fiscal year and year-to-date for the current year as of the most recently ended month are hereto attached as <u>Schedule 3.7</u> fairly present in all Material respects Company's operating results and financial conditions as of dates and for the periods indicated therein. As of the dates of such financial statements, Company did not have any Material obligation, contingent liability, liability for taxes or long-term lease obligation which is not reflected in such financial statements or the notes thereto. Since the date of such financial statements: (i) Company has operated its businesses only in the ordinary course; (ii) there has not been individually or in the aggregate any change that would reasonably be expected to result in a Material Adverse Effect, other than changes set forth in <u>Schedule 3.7</u>; (iii) Company has not guaranteed any Indebtedness of any other Person; (iv) Company does not have any Indebtedness for borrowed money other than pursuant to this Agreement and as set forth on <u>Schedule 3.7</u>; and (v) no event has occurred that would reasonably be expected to have a Material Adverse Effect. The Company is not insolvent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.8 Tax Returns; Taxes**. Except as set forth on <u>Schedule 3.8</u>, Company has filed all tax returns and reports (including information returns and reports) as required by law. These returns and reports are true and correct in all Material respects. Company has paid all taxes (including payroll taxes) and other assessments due, except those contested by it in good faith and for which adequate reserves have been established.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.9 Permits**. Company has all franchises, permits, licenses and any similar authority necessary for the conduct of its business the lack of which would have a Material Adverse Effect, and Company believes it can obtain, without undue burden or expense, any similar authority for the conduct of its business as planned to be conducted. Company is not in default in any Material respect under any of such franchises, permits, licenses or other similar authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.10 Compliance with Laws**. Company, the operation of its business and all premises controlled by Company are in Material compliance with all applicable laws and orders or directives of any governmental authorities having jurisdiction over Company, its properties or operations, except where the failure to comply would not reasonably be expected to have a Material Adverse Effect. Company has not received any citation, directive, letter or other communication, written or oral, or any notice of any proceeding, claim, lawsuit or investigation, from any Person arising out of Company's ownership or occupation of its premises or the conduct of its operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.11 Disclosure**. Company has provided Lender with all the information available to Company that Lender has requested for deciding whether to make Advances. To the best of Company's knowledge, neither this Agreement (including all the exhibits attached hereto) nor any certificates delivered in connection herewith contains any untrue statement of a Material fact or omits to state a Material fact necessary to make the statements herein or therein not misleading in light of the circumstances under which they were made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.12 Title to Property and Assets**. Except as set forth in <u>Schedule 3.12</u> to this Agreement, the property and assets owned by Company are owned solely by Company free and clear of all mortgages, liens, loans and encumbrances, except for Permitted Liens. With respect to Company's leased property and assets, Company is in compliance with the applicable leases in all Material respects and, to the best of Company's knowledge, it holds valid leasehold. There are no financing statements reflecting the perfection of any security interest in favor of any creditor other than the Lender covering all or any part of Company's assets in existence or on file in any public office other than those representing the Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.13 Name and Location of Company**. Company's legal name, state of organization, entity type, as well as the location of the executive office of Company are set forth on the first page of this Agreement. Company maintains all of its books and records regarding its assets at its chief executive office. Company has such business and financial experience as is necessary to enable it to protect its interests in connection with the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.14 Collateral**. Except as set forth in <u>Schedule 3.14</u>, (i) the Company has full power and authority to create a lien (subject to Permitted Liens) on the Collateral pursuant to this Agreement and no disability or contractual obligation exists that would prohibit the Company from pledging the Collateral pursuant to this Agreement, (ii) there are no subscriptions, warrants, rights of first refusal, or other restrictions on transfer relative to, or options exercisable with respect to the Collateral (iii) the Collateral is not the subject of any present or threatened suit, action, arbitration, administrative or other proceeding, and the Company knows of no reasonable grounds for the institution of any such proceedings, (iv) the Collateral consisting of equipment and inventory is in good operating condition and repair, subject to ordinary wear and tear, and the Company has made all economically reasonable and necessary repairs thereto, and (v) the Collateral consisting of the Company's inventory is of good and marketable quality, free from defects, except for inventory for which adequate reserves have been made in accordance with GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.15 Intellectual Property**. The Company owns, or is a licensee thereof, of all intellectual property rights used in or necessary for the conduct of its business, or operations as currently conducted and as proposed to be conducted, or as are Material to the condition (financial or otherwise), business, or operations of the Company.

**ARTICLE 4 <br> CLOSING**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1 Closings**. The closing of the Initial Advance pursuant to this Agreement (the **"Closing"**) shall take place by an electronic exchange of executed counterpart copies of this Agreement and the other Transaction Documents between counsel for Company and Lender. At the Closing, Company and Lender shall exchange signature pages to this Agreement, and Lender will thereafter make the Initial Advance. Lender shall also pay the Warrant purchase price pursuant to Article 9 to Company. Payments pursuant to this Section 4.1 shall be made by wire transfer and, in Lender's sole discretion, are subject to off-set of Company's Share of Transaction Costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2 Lender's Conditions to Closing**. Lender's Advances pursuant to this Agreement are subject to the condition that on or before the Closing, Lender shall have received evidence of the following actions and or executed original copies of the following documents, in form and substance satisfactory to Lender:

&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** a certificate that the Key Person Agreements remain in effect and have not been amended, terminated, superseded or otherwise modified;

&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** a certificate from the Key Person certifying that all actions by Company necessary to authorize the execution, delivery and performance of the Transaction Documents have been taken, that no Event of Default has occurred, and that all representations and warranties of Company in Section 3 are true 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; **4.2.3** a Certificate of Perfection from Company in the form provided by Lender to 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; **4.2.4** a Warrant in the form attached as <u>Exhibit A</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; **4.2.5** the Company Disclosure Schedules; 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; **4.2.6** a copy of the Company's current operating budget including, without limitation, projected revenues, expenses, wages, and uses of loan proceeds, and if applicable, approved by Company's governing body (*e.g.*, board of directors, board of governors, managing members, general partner or the like) (the **"Governing Body"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Subsequent Closings**. The closing of each Subsequent Advance pursuant to this Agreement, if any (each, a **"Subsequent Closing"**), shall take place by electronic exchange of documents deemed necessary by Lender in connection with such Subsequent Closing, including a Subsequent Closing certificate from the Key Person in form and substance satisfactory to Lender certifying that the conditions to the Subsequent Advance set forth in Section 2.1.2 have been satisfied and the Company shall execute and deliver to Lender any other agreement or document as reasonably requested by Lender to consummate the transactions contemplated by this Agreement in connection with such Subsequent Closing.

**ARTICLE 5**

**AFFIRMATIVE COVENANTS**

Unless otherwise agreed in writing by Lender, Company shall, so long as any of the Obligations remain unsatisfied, comply with the covenants in this Article 5 (and each reference to Company in this Article 5 shall mean and be a reference to Company and its Subsidiaries or any one or more of them).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1 Financial Information, etc**. Upon request from Lender, Company will furnish to Lender copies of the following financial statements, reports and 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;**5.1.1** as soon as available and in any event within six (6) months after the end of each calendar year of Company, a copy of its annual financial statements (balance sheet, cash flow statement and income statement), detailed on a monthly basis, which will be reviewed (or audited if the Company has its financial statements audited by the Company's accounting firm) (the "**Financial Statements**") and prepared in all Material respects, in accordance with generally accepted accounting principles, except for the presence of footnotes, as well as a complete version of Lender's required annual operational survey;

&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** as soon as available and in any event within thirty (30) days after the end of each quarter of each fiscal year of Company, a copy of Company's quarterly Financial Statements from the beginning of such fiscal year to the end of such quarter, detailed on a monthly basis, prepared by the Company's accounting firm, in all Material respects, in accordance with generally accepted accounting principles, except for the presence of footnotes and subject to normal year-end adjustments;

&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** with each quarterly and annual financial statement or report required by Section5 .1.1 and 5.1.2, a certificate signed by the Chief Executive Officer of Company stating that, to the best of his or her knowledge after reasonable investigation, no Event of Default has occurred and is continuing, or if an Event of Default has occurred and is continuing, a statement of the nature thereof and the action which Company proposes to take with respect 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;**5.1.4** copies of all reports that Company sends to all of its equity holders (as an equity holder) promptly after the sending or filing 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;**5.1.5** within forty-five (45) days of the conclusion of each calendar year, Company's annual operating and capital expenditure budgets and cash flow forecast for the following year presented on a monthly basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.6** within five (5) days of receipt by, or delivery to, copies of all material notices to or from any other lender to 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;**5.1.7** within ten (10) days of filing with the applicable taxing authority, a copy of allt ax returns; 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;**5.1.8** such other information and financial reports with respect to the Collateral, theK ey Person and/or the financial condition and operations of Company as Lender may reasonably request, and, when so requested, Company will make available for inspection and copy by duly authorized representatives of Lender, any of Company's books and records; 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;**5.1.9** as soon as available and in any event within fifteen (15) days after the end of each month, a copy of Company's monthly Financial Statements as of the end of such month prepared by Company, in all Material respects, in accordance with generally accepted accounting principles, except for the omission of footnotes and subject to normal year-end adjustments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.2 Maintenance of Corporate Existence and Properties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.1** Company will at all times do or cause to be done all things necessary to maintain, preserve and renew its charter and its leases, privileges, franchises, qualifications and rights that are necessary or useful in the ordinary conduct of its business, and conduct its business as presently conducted in an orderly and efficient manner in accordance with good business practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.2** Company will provide or cause to be provided for itself insurance against loss or damage of the kinds customarily insured against by businesses similarly situated, with reputable insurers, in such amounts, with such deductibles and by such methods as shall be adequate in the judgment of the Company's Governing Body, and in any event in amounts not less than amounts generally maintained by other companies of similar size engaged in similar businesses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.3** Company will keep true books of records and accounts in which full and correct entries will be made of all its business transactions, and will reflect in its financial statements adequate accruals and appropriations to reserves, all in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.4** Company will comply in all Material respects with all applicable laws, statutes, rules, regulations, orders and restrictions in respect of the conduct of its business and the ownership of its properties, except such as are being contested in good faith and except where the failure to comply would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3 Payment of Indebtedness, Taxes and Claims**. Company will pay (i) its Indebtedness, the Obligations, and all other obligations promptly and in accordance with their terms; (ii) file all tax returns and reports which are required by law to be filed by it; (iii) pay before they become delinquent, all taxes (including payroll taxes), assessments and governmental charges and levies imposed upon it or its property, except for any such amounts which Company contests in good faith by appropriate proceedings and for which Company maintains adequate reserves; and (iv) pay all claims or demands of any kind (including but not limited to those of suppliers, mechanics, carriers, warehousemen, landlords and other like persons) which, if unpaid, might result in the creation of a lien upon its property other than a Permitted Lien.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.4 [Reserved.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5 Litigation and Other Notices**. Company and/or Key Person shall furnish to Lender written notice of the following promptly after any officer of Company becomes aware of the same:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5.1** any Event of Default or the occurrence of any event or condition that would likely result in an Event of Default, specifying the nature and extent thereof and the corrective action (if any) proposed to be taken with respect 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;**5.5.2** the filing or commencement of, or receipt of notice of intention of any Person to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any governmental authority, against Company which has had or would likely have a Material Adverse Effect on 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;**5.5.3** any development, event or condition affecting or relating to Company that in the reasonable judgment of Company has had, or might have, a Material Adverse Effect on Company; *provided*, *however*, notice for events which occur on a frequent basis may be aggregated into one monthly or quarterly notice as agreed upon in writing by the Lender; 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;**5.5.4** the issuance by any governmental authority of any injunction, order or decision, or the entry by Company into an agreement with any governmental agency, Materially restricting the business of Company or concerning any Material business practice of Company; *provided*, *however*, notices regarding regulatory changes will be provided only quarterly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6 Inspection**. Company shall permit Lender, at Lender's expense, to visit and inspect Company's properties; examine its books of account and records; and discuss Company's affairs, finances, and accounts with its officers, during normal business hours of Company as may be reasonably requested by Lender; *provided*, *however*, that Company shall not be obligated pursuant to this Section 5.6 to provide access to any information that it reasonably and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to Company) or the disclosure of which would adversely affect the attorney-client privilege between Company and its counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.7 Audit Right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7.1** Upon reasonable advance notice from Lender, Company shall once every twelve(12) months make its financial books and records available to Lender and its designated representatives for review and audit so that Lender may verify (i) the amount of payments made by Company to Lender and (ii) the aggregate Revenue. Lender shall provide the full written results of such review and audit to the Company within ten (10) days after the completion of such review and audit. In the event that a review and audit by Lender or its designated representatives results in a determination that the amounts that were paid to Lender are deficient or underpaid by less than ten percent (10%), Company shall pay to Lender the amount unpaid plus interest at the rate of one percent (1%) per month on the amount unpaid, but Lender shall bear all of the costs, fees and expenses incurred by Lender as a result of the review and audit. In the event that a review and audit by Lender or its designated representatives results in a determination that the amounts that were paid to Lender are deficient or underpaid by ten percent (10%) or more, Company shall pay to Lender, in addition to the amount unpaid plus interest at the rate of one percent (1%) per month on the amount unpaid, all of the costs, fees and expenses incurred by Lender as a result of the review and audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7.2** Notwithstanding the foregoing, if the Company disputes or disagrees with any of the results of the Lender's review and audit, the Company may deliver to Lender, within fifteen (15) days of its receipt of the written results of Lender's review and audit, a written dispute notice of its specific objections to Lender's review and audit (a "**Dispute Notice**"). Upon the delivery by the Company of a Dispute Notice, the Company and Lender shall in good faith, and in consultation with their respective accountants, work together to resolve all disputed issues set forth in such Dispute Notice. To the extent that the disputed items set forth in the Dispute Notice remain unresolved after twenty (20) business days following the receipt of the Dispute Notice, the Company and Lender shall submit such unresolved items to an accounting firm of national or regional reputation that is mutually agreed upon by the Company and Lender (the "**Accountants**"). If the issues in dispute are submitted to the Accountants for resolution: (i) the Company and Lender shall each furnish to the Accountants such documents and information relating to the disputed issues as the Accountants may reasonably request and are available to that party and shall be afforded the opportunity to present to the Accountants any material relating to the review and audit in question and to discuss such review and audit with the Accountants; (ii) the determination by the Accountants of the actual amounts that should have been paid to Lender during the period subject to review and audit (the "**Settled Audit Amount**."), as set forth in a notice delivered to both parties by the Accountants within thirty (30) days of the Accountants' engagement, shall be binding and conclusive on the parties; and (iii) the Company and the Lender shall bear the fees, fees and expenses of the Accountants for such determination in the same manner they would bear the costs, fees and expenses of the Lender for the review and audit in accordance with Section 5.7.1. Within ten (10) business days following the determination of the Settled Audit Amount, the appropriate payments shall be made by Company, if any, in accordance with Section 5.7.1, based solely on the Settled Audit Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8 Subsidiaries**. Company shall cause all of its Subsidiaries to comply with the provisions of Article 5 and Article 6. Company shall deliver prior written notice to Lender of the formation or acquisition of any Subsidiary and/or purchase of equity investment or lending or advancing of funds to any other entity. All Subsidiaries of Company shall execute and deliver to Lender such joinders, pledge agreements and other documents as Lender requests. Notwithstanding the foregoing, with respect to any Foreign Subsidiary, (a) the equity of such Foreign Subsidiary will not be required to be pledged to the extent (but only to the extent) that (i) such Foreign Subsidiary is a direct or indirect Subsidiary of another Foreign Subsidiary or (ii) such pledge exceeds 65% of the voting equity of such Foreign Subsidiary, unless and to the extent that the pledge of greater than 65% of the voting Capital Stock of such Foreign Subsidiary would not cause any materially adverse tax consequences to Company, and (b) such Foreign Subsidiary will not be required to guaranty the Obligations if doing so would cause any materially adverse tax consequences to Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9 Further Assurances**. Company will at any time or times promptly execute and shall cause any of its Subsidiaries to promptly execute, such instruments and perform such acts as Lender may reasonably request to establish and maintain an attached and perfected security interest in the Collateral and will pay all costs of filing and recording. Company will reimburse Lender for all reasonable costs, fees and expenses (including attorneys' fees) for the perfection and the continuation of the perfection of Lender's security interest in the Collateral and the cost of any terminations, extensions, renewals, amendments and releases thereof, and shall promptly pay all reasonable costs, fees and expenses of any record searches for financing statements Lender may reasonably require.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10 Records Regarding Collateral**. Company shall maintain all records, instruments or other documentation evidencing or otherwise relating to the Collateral at Company's chief executive office and will not (i) remove any part thereof, or (ii) change Company's name, state of organization, or location of its chief executive office, without the prior written consent of Lender (which consent shall not be unreasonably withheld or delayed).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.11 Company Bank Account**. Company shall use its best efforts to: (i) maintain a banking relationship with Company Bank or other qualified commercial bank; (ii) ensure that all payments to Company (and all Subsidiaries) from whatever source shall be deposited into the Company account described in <u>Schedule 5.11.</u>, or successor account thereto; (iii) ensure that such account shall have a balance in excess of the amount due to the Lender on each date that a payment pursuant to this Agreement is due; and (iv) ensure that the Applicable Revenue Percentage shall be transferred to the Lender Account on a monthly basis in accordance with this Agreement. Company shall within five (5) business days notify the Lender in writing of any change in its banking relationship (whether such change is within Company's current bank or to another bank) and shall provide Lender with new contact information and account details for all new bank accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.12 Key Person Insurance; Background Check**. Within sixty (60) days following the Effective Date, Company shall hold from one or more "A or better" insurers, "key-person" life insurance on the Insured Executive(s) in the Insurance Amount and on other terms and conditions reasonably acceptable to Lender and Company. The key-person policy, whether obtained prior to or following the Effective Date, shall be collaterally assigned to Lender, name Lender as loss payee, shall be continuously maintained in force and shall not be cancelable by Company without prior approval from Lender prior to full satisfaction of the Obligations. If at any time following such sixty (60) day period Company does not hold a key-person policy in compliance with the preceding two sentences, Lender may obtain a key- person policy as owner and beneficiary on the life of the Insured Executive(s) in the Insurance Amount. Key Person and Company shall fully cooperate with Lender in obtaining such policy and Company shall reimburse Lender for all related fees and expenses. All or any portion, in Lender's sole discretion, of the insurance proceeds up to the Insurance Amount received by Lender as loss payee or beneficiary on any one or more key-person life insurance policies shall be applied against the outstanding Obligations with the excess (including all proceeds in excess of the Insurance Amount) being returned to the insurance company for redistribution. Proceeds of key-person life insurance policies received by the Company while any Obligations are outstanding shall, in the sole discretion of Lender, be used, in whole or in part, to satisfy Obligations of up to the Insurance Amount (with any amounts in excess of the Insurance Amount being retained by the Company). Failure to obtain Key Person insurance within such sixty (60) day period shall be considered an Event of Default under Section 7.2 of this Agreement. It is further agreed that prior to any person assuming any office, position, or responsibilities currently held by the Key Person, the Company will use commercially reasonable efforts to ensure that such person provides Lender with written authorization to conduct a background check within thirty (30) days after such person's appointment; *provided* that such background check shall only be for informational purposes and shall not give Lender any rights to veto such replacement Key Person. Failure by such person to provide written consent within such thirty (30) day period shall be considered an Event of Default under Section 7.2 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.13 Compliance**. Company shall comply with the requirements of all applicable state and federal laws, and of all rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject, except where the failure to comply would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.14 Government Regulation**. Company shall not be or become subject at any time to any law, regulation, or list of any government agency (including, without limitation, the U.S. Office of Foreign Asset Control list) that prohibits or limits the Lender from making any advance or extension of credit to Company or from otherwise conducting business with Company, or fail to provide documentary and other evidence of Company's identity as may be requested by Lender at any time to enable the Lender to verify Company's identity or to comply with any applicable law or regulation, including, without limitation, Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.15 Annual Survey**. Company shall complete Lender's annual compliance survey within thirty (30) days of receipt of such compliance survey from the Lender by the Company for the applicable year. For each time the Company fails to submit an annual compliance survey within 30 days after the date on which it is due, the Company will automatically, and without notice from the Lender, be assessed a $500 service charge and each such service charge will bear interest at the rate set forth in Section 12.7 from the date such service charge arises (*i.e.*, 30 days after delivery of the compliance survey by the Lender (or its representatives) to the Company).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.16 Expenses Related to Non-Compliance with Covenants**. Upon the occurrence and during the continuance of any Event of Default, Lender may, but has no obligation to, take such reasonable actions as Lender, in its sole discretion, deems appropriate to ensure Company remains in or returns to compliance with this Agreement and to protect Lender's interest under this Agreement, including without limitation, paying premiums, taxes, unpermitted Indebtedness and/or judgments. Company shall thereafter promptly reimburse Lender for all reasonable costs, fees and expenses incurred by Lender in connection therewith together with interest at the rate set forth in Section 12.7 from the date of disbursement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.17 Acquisitions**. If the Company completes an acquisition or acquires a controlling interest in another Person that would constitute a Subsidiary under this Agreement, the Company and the Lender hereby agree to revise in good faith the Applicable Revenue Percentage in a way that would cause the amounts paid by the Company pursuant to this Agreement following any such acquisition to be within five percent (5.0%) of the originally scheduled amounts. By way of example only, if the Applicable Revenue Percentage pursuant to Section 2.3.3 was one percent (1.0%) and the anticipated monthly Revenue prior to the completion of an acquisition described above was $1,000,000 (which would result in a monthly payment of $10,000), the Company and Lender would amend Section 2.3.3 to provide for a monthly payment of no less than $9,500 nor more than $10,500.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.18 Registration of Intellectual Property Rights**. The Company will register with the United States Patent and Trademark Office or the United States Copyright Office its intellectual property rights including revisions or additions thereto with any product before the sale or licensing of the product to any third party, in each case to the extent registrable and the Governing Body in good faith deems appropriate for the development of Company's business and in the best interest of the Company and its equity holders. To the extent that the Governing Body in good faith determines appropriate for the development of the Company's business and in the best interests of the Company and its equity holders, the Company will: (i) protect, defend, and maintain the validity and enforceability of the intellectual property rights and promptly advise Lender in writing of any infringements thereof, and (ii) not allow any intellectual property rights to be abandoned, forfeited or dedicated to the public without Lender's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.19 Senior Indebtedness Cap**. In no case shall the aggregate amount of all Senior Indebtedness exceed an amount equal to (i) 15.0% of the sum of the Company's Revenue in each of the immediately preceding 12 months or (ii) 22.5% of the sum of (x) the Company's Revenue in each of the immediately preceding 12 months plus (y) the Outstanding Advance Balance (the "**Senior Indebtedness Cap**"). To the extent requested by any Senior Lender and Company, Lender agrees to enter into a subordination agreement with each Senior Lender on commercially reasonable terms to subordinate the Obligations in right and time of payment and in lien priority to the Senior Indebtedness owing to such Senior Lender, on terms satisfactory to such Senior Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.20 Key Person Agreements**. Company will not terminate, amend, supersede or otherwise modify the Confidentiality Agreement between the Company and the Key Person dated August 15, 2011 or the Non-Compete Agreement dated December 31, 2012, between the Company and the Key Person (together, the "**Key Person Agreements**") without prior written approval of Lender, which approval will not be unreasonably withheld or delayed.

**ARTICLE 6**

**NEGATIVE COVENANTS**

Unless otherwise agreed in writing by Lender, Company (and all its Subsidiaries) shall, so long as any of the Obligations remain unsatisfied, comply with the covenants in this Article 6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 Indebtedness**. Company will not without Lender's prior written consent (i) create, incur, assume, guarantee, or otherwise become liable for any Indebtedness after the date of this Agreement, except for Permitted Indebtedness, or (ii) create any lien, security interest, mortgage or pledge of its assets. Notwithstanding the preceding sentence, during any period of time in which Company is not in default on any Senior Indebtedness and no Event of Default exists, Company may create Permitted Indebtedness and Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 Restricted Payments**. Company will not, at any time, make or become obligated to make, directly or indirectly, any: (i) payment or distribution in respect of any capital stock, units or other equity interests in Company or its Subsidiaries; (ii) payment or distribution on account of the purchase, repurchase, redemption or other retirement of any capital stock, units or other interests in Company; (iii) loans, advances or payments to any affiliate, stockholder, or member, including, without limitation, any officer or member of the Governing Body of Company or any of its Subsidiaries; and/or (iv) investment in third parties other than in money market funds for purposes of cash management. Notwithstanding the immediately preceding sentence, the Company may pay distributions in the form of Company's common stock, repurchase capital stock held by former employees and directors upon termination of employment or appointment to the Governing Body (as applicable), pay reasonable compensation (including reasonable salary, bonus and equity compensation for a company of similar size, financial condition, location and industry), reimburse expenses incurred on behalf of the Company, make payments on the convertible notes and shareholder loans set forth on <u>Schedule 6.2</u> and convertible notes issued by the Company after the date hereof, and, if the Company is, for tax purposes, a partnership or Subchapter S corporation, distributions in such amounts as reasonably determined to be necessary to allow equity holders to pay federal and state income taxes with respect to the income allocated to such equity holder from the Company with respect to the applicable tax year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3 Ownership; Maintenance of Collateral**. Company shall not transfer or otherwise dispose of all or any portion of the Collateral, other than in the ordinary course of business, or enter into any lease or license for the use of the Collateral without fair and reasonable consideration. Company shall keep the Collateral free and clear of all levies, attachments, liens, charges, encumbrances and security interests of every kind or character (except for the security interest granted to Lender hereunder and except for Permitted Liens). Company shall promptly pay and discharge when due all license fees, registration fees, taxes, assessments and other charges which may be levied upon or assessed against the ownership, possession or uses of the Collateral or any portion thereof, except as otherwise permitted in this Agreement. Company shall keep accurate and complete records of the Collateral and shall, upon Lender's reasonable request, promptly affix on any Collateral constituting chattel paper, a notice, in form satisfactory to Lender, of Lender's security interest created hereunder. Company shall use commercially reasonable efforts to maintain all in good working order, subject to ordinary wear and tear, and, with respect to intellectual property, make such filings, prosecute such applications, pay necessary fees (including maintenance fees), and take such other actions as necessary to properly maintain and protect Company's intellectual property rights. For the avoidance of doubt, Company shall not, without Lender's, prior written consent, sell or otherwise transfer or cease operations of any Material business unit, Material operating division, or other Material portion of Company's business operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4 New Subsidiaries**. Company will not without Lender's prior written consent (such consent not to be unreasonably withheld) create or permit to exist any new Subsidiary or joint venture. If Lender consents to the formation of any Subsidiary or joint venture after the date of this Agreement (each, an "**Approved Subsidiary**"), then such Approved Subsidiary (i) shall execute and deliver the joinder contemplated by Section 5.8 hereof and (ii) will be considered a Subsidiary of Company. By executing and delivering the joinder required under clause (i) above, such Approved Subsidiary will be deemed to have granted a security interest as contemplated under Section 2.4 of this Agreement in all of such Approved Subsidiary's assets and the Lender will be permitted to take such actions and make such filings as are contemplated in Section 2.4 of this Agreement with respect to such Approved Subsidiary.

**ARTICLE 7**

**EVENTS OF DEFAULT**

The term **"Event of Default"** means the occurrence of any one or more of the following events (and each reference to Company in this Article 7 shall mean and be a reference to Company and each of its Subsidiaries, or any one or more of them):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1 Payment of Obligations**. The failure or refusal of Company to pay any portion of the Obligations on the due date in accordance with the terms of the Transaction Documents (each, a **"Payment Event of Default"**); *provided* that, subject to Section 8.2 and Section 12.7 hereof, the Company shall have 15 days following the due date thereof to cure any such Payment Event of Default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2 Other Covenants**. The failure or refusal of Company to punctually and properly perform, observe and comply with any Material affirmative covenant, agreement or condition contained in any of the Transaction Documents and such failure continues for a period of thirty (30) days after the earliest of: (i) the date Company gives notice of such failure to Lender; (ii) the date Company should have given notice of such failure to Lender pursuant to this Agreement; and (iii) the date Lender gives notice of such failure to Company. Notwithstanding the foregoing, there shall be no thirty (30) day cure period for (a) any breach of any provision contained in Article 6, (b) the Events of Default provided in Section 7.3, (c) failure to obtain "key person" insurance within the time period prescribed by Section 5.12 of this Agreement, or (d) failure to obtain written consent to a background check within the time period prescribed by Section 5.12 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3 Bankruptcy; Insolvency**. (i) Company commences a voluntary case under Title 11 of the United States Code as now or hereafter in effect, or any successor thereto; (ii) an involuntary case under Title 11 of the United States Code is commenced against Company and the petition is not dismissed within thirty (30) days after commencement of the case; (iii) a custodian is appointed for, or takes charge of, all or any substantial part of the property of Company; (iv) Company commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to Company; (v) Company shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or (vi) Company shall cease or substantially reduce its operations or change its line of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.4 Judgments.** A judgment for the payment of money in excess of $100,000 shall be rendered against the Company, and such judgment remains unpaid or undischarged for more than thirty (30) days from the date of entry thereof or such longer period during which execution of such judgment shall be stayed during an appeal from such judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.5 False Statement**. Any representation or warranty made by or on behalf of Company in this Agreement or any other Transaction Documents or in any certificate, statement, report or document herewith or hereafter furnished to Lender pursuant to this Agreement or any other Transaction Documents shall prove to have been false or misleading in any Material respect on the date as of which the facts set forth are stated or certified, if the facts are not remedied to reflect the representation or warranty made within thirty (30) days of any officer of Company becoming aware of such false or misleading representation or warranty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.6 Key Person Events**. Without written consent of the Lender, the Key Person (i) ceases full-time employment with Company other than for reason of death or disability; (ii) provides services to a business that is competitive with Company; (iii) improperly uses Company intellectual property or confidential information for the benefit of any Person other than the Company; or (iv) violates any provision of his Non-Compete, Non-Solicitation and Confidential Information Agreement. If an Event of Default under Section 7.6(i) occurs, the Company and Lender will use their commercially reasonable efforts to identify a mutually acceptable replacement Key Person, and the Company will cause such replacement Key Person to promptly execute a joinder to this Agreement and to enter into a Non- Compete, Non-Solicitation and Confidential Information Agreement in substantially the same form as is delivered by the Key Person pursuant to Section 4.2.1 hereof (if not previously executed by such replacement Key Person). The replacement Key Person shall be required to fulfill the duties and obligations of the Key Person set forth in this Agreement. Additionally, the Company shall obtain "key- person" life insurance in the amount required under Section 5.12 hereof within sixty (60) days of the date on which the Key Person is mutually agreed upon by the Company and Lender. Failure to obtain such "key-person" life insurance within such sixty (60) day period shall be considered an Event of Default under Section 7.2 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.7 Cross Default**. (i) The maturity of any Indebtedness of Company (other than Indebtedness under this Agreement) owed to the Lender which is not paid when due, after giving effect to any grace or cure period, or (ii) the maturity of any Indebtedness of Company in an aggregate amount equal to or greater than $50,000 owed to others is accelerated, or (iii) Company fails to pay any such Indebtedness when due or, in the case of such Indebtedness payable on demand when demanded, after giving effect to any grace or cure period.

**ARTICLE 8**

**RIGHTS AND REMEDIES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1 Remedies**. If any Event of Default specified in Section 7.3 shall occur, any commitment to make Advances hereunder shall automatically terminate and all Obligations of Company to Lender hereunder and under the other Transaction Documents shall automatically become immediately due and payable without notice. During the existence of any Event of Default, the Lender may, without notice of any kind (including, without limitation, notice of acceleration or of intention to accelerate, presentment and demand or protest, all of which are hereby expressly waived by Company) do any one or more of the following: (i) declare the entire Outstanding Advance Balance, Interest and all other Obligations, or any part thereof, immediately due and payable; (ii) terminate any commitment to make Advances hereunder; and (iii) exercise any and all other legal or equitable rights afforded by the Transaction Documents and the laws of the Applicable Jurisdiction or any other jurisdiction as Lender shall deem appropriate. During the existence of any Event of Default the Lender may take any action permitted by this Agreement or by applicable law, including the Uniform Commercial Code then in effect in the Applicable Jurisdiction, including, but not limited to, taking the actions 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;**8.1.1 Possession and Control of Collateral**. Without limiting the generality of the foregoing Lender, may, during the existence of any Event of Default, to the fullest extent permitted by applicable law, without notice, hearing or process except as specified below, take possession and maintain control over the Collateral. Within two (2) days following demand by the Lender for possession and control of the Collateral during the existence of an Event of Default, the Company shall, at its sole cost and expense, assemble and turn over to Lender all Collateral of the Company its Subsidiaries then held by the Company and/or any of its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.2 Reasonable Sale of Collateral**. During the existence of any Event of Default, Lender may in its sole discretion sell the Collateral or any part thereof in one or more parcels at public or private sale, for cash, on credit or for future delivery, and upon such other terms as Lender may deem commercially reasonable, and Lender may purchase all or any part of the Collateral at public or, if permitted by law, private sale, and in lieu of actual payment of such purchase price, may set off the amount of such purchase price against the Obligations. Lender may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, with notice, be made at the time and place to which it was so adjourned. Lender may abandon any such proposed sale. Company acknowledges that any private sales of Collateral effected by Lender may result in terms less favorable to a seller than public sales but Company agrees that such private sales shall nevertheless be deemed commercially reasonable. Company shall pay all costs, fees and expenses incurred by Lender, including reasonable attorney's fees and court costs, in connection with any such sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.3 Notice of Sale**. If any notification of intended disposition of any of the Collateral is required by law, such notification shall be deemed reasonably and properly given if provided in accordance with Section 12.6 at least ten (10) days before such disposition, postage prepaid, addressed to Company at the address set forth in the introduction to this Agreement. Such disposition shall be established by affidavit of a representative of Lender, receipts or other reasonable method.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.4 Remedies Cumulative; No Waiver**. The rights and remedies of Lender hereunder are cumulative and nonexclusive and the exercise of any one or more of the remedies provided for herein or under applicable law shall not be construed as a waiver of any of the other remedies of Lender so long as any part of the Obligations remain unsatisfied. No failure on the part of Lender to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy by Lender preclude any other or further exercise thereof or the exercise of any other right, power or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.5 Application of Proceeds**. Any payments or proceeds received by Lender from the Collateral shall be applied to the payment of costs, fees and expenses incurred by Lender in connection with performing, managing, maintaining or selling the Collateral, including reasonable attorneys' fees and expenses, and the balance, if any, shall be applied by Lender to payment of the Obligations, in order of application as Lender shall reasonably determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.6 Notice to Account Debtors**. Upon the occurrence and during the continuance of (i) any Event of Default under Section 7.3, or (ii) upon the occurrence and during the continuance of any other Event of Default, provided the Lender has declared all Obligations immediately due and payable, Lender may notify any or all account debtors of the existence of Lender's security interest in the Collateral and require such account debtors to pay or remit all sums due or to become due directly to Lender or its nominee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.7 Possession of Property**. Upon the occurrence and during the continuance of any Event of Default, Lender may enter upon and into and take possession of all or such part or parts of the properties owned or occupied by Company, including lands, buildings, equipment and other property as may be necessary or appropriate in the judgment of Lender to permit or enable Lender to complete the processing or collection of all or any part of the Collateral as Lender may elect, and use and operate such properties for such purposes and for such length of time as Lender may deem reasonably necessary or appropriate for such purposes without the payment of any compensation to Company therefor.

Notwithstanding the foregoing, Lender may, but shall be under no obligation, to use reasonable efforts to notify Company of any of the foregoing; *provided*, *however*, the parties hereto expressly agree that the failure of Lender to provide notice shall not in any way affect or impair any action taken by Lender, it being understood that any absolute obligation of notice is hereby waived by Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2 Non-Payment Penalty**. Following the occurrence of any Payment Event of Default and in addition to all other rights and remedies provided by this Agreement or applicable law, Lender may increase the applicable Minimum Interest by 0.015 times the Outstanding Advance Balance for each payment not timely made under this Agreement; *provided* that for the first two (2) Payment Events of Default and for purposes of this Section 8.2 only, the Company shall have thirty (30) days to cure such instances of a Payment Event of Default without a corresponding increase to the Minimum Interest; *provided*, *further* that the applicable Minimum Interest will be increased regardless of whether Lender notifies the Company of any Payment Event of Default. If the Company has not fully cured such Payment Event of Default at the end of such thirty (30) day period, the applicable Minimum Interest shall increase as described above. Beginning with the third Payment Event of Default and continuing with each Payment Event of Default thereafter, the applicable Minimum Interest shall increase by 0.015 times the Outstanding Advance Balance upon the occurrence of each such Payment Event of Default regardless of whether or not such Payment Event of Default is subsequently cured. By way of example only, if the applicable Minimum Interest is 0.50 times the Outstanding Advance Balance at the time of a Payment Event of Default causing an increase in the applicable Minimum Interest, the applicable Minimum Interest would increase to 0.515 times the Outstanding Advance Balance. For the avoidance of doubt, if the Minimum Interest is increased pursuant to this Section 8.2 during any measurement period set forth on <u>Schedule 11.2</u>, such increase shall apply to each subsequent measurement period set forth on <u>Schedule 11.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3 Senior Indebtedness Compliance**. During the term of this Agreement, for any month during which the aggregate amount of Company's Senior Indebtedness exceeds the Senior Indebtedness Cap (a **"Noncomplying Month"**), the applicable Minimum Interest will automatically increase by 0.015 times the Outstanding Advance Balance for each Noncomplying Month; *provided* that the applicable Minimum Interest will be increased regardless of whether Lender notifies the Company of any non- compliance with its Senior Indebtedness covenant during any Noncomplying Month; *provided*, *further* that Lender shall be permitted to audit the books and records of the Company at any time, including in connection with a payment of all Obligations, in accordance with the procedures established in Section 5.7 of this Agreement. For the avoidance of doubt, if the Minimum Interest is increased pursuant to this Section 8.3 during any measurement period set forth on <u>Schedule 11.2</u>, such increase shall apply to each subsequent measurement period set forth on <u>Schedule 11.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4 Performance by Lender**. During the existence of an Event of Default, Lender shall have (and is hereby granted in such event) a royalty-free license to use intellectual property rights of the Company to complete production of, advertisement for, and disposition of any Collateral and Lender shall have a license to enter into, occupy, and use Company's premises and the Collateral without charge to exercise any of Lender's rights or remedies under this Agreement or under any other Transaction Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5 Delegation of Duties and Rights**. Lender may perform any of its duties or exercise any of its rights under the Transaction Documents by or through its officers, members of its Governing Body, employees, attorneys, agents or other representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6 Expenditures by Lender**. Company shall indemnify Lender for all court costs, attorneys' fees, other costs of collection and other sums spent by Lender pursuant to the exercise of any right (including, without limitation, any effort to collect amounts due or otherwise enforce this Agreement) provided herein. All such amounts shall be payable to Lender on demand and shall bear interest at the rate of ten percent (10%) per annum from the date spent until the date repaid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **8.7 Lender's Authority**. Lender shall have the authority, but shall not be obligated 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;**8.7.1** place on any chattel paper received as proceeds a notation or legend showing Lender's security interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.7.2** during the existence of an Event of Default, demand, collect, receive and receipt for, compound, compromise, settle and give acquittance for, and prosecute and discontinue any suits or proceedings in respect of any or all of the Collateral in the name of 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;**8.7.3** during the existence of an Event of Default and upon prior written notice to Company, take any action which Lender may deem necessary or desirable in order to realize on the Collateral, including, without limitation, performance of any contract and endorsement in the name of Company of any checks, drafts, notes or other instruments or documents received in payment of or on account of the Collateral; 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;**8.7.4** place upon Company's books and records relating to the Collateral covered by the security interest granted hereby a notation or legend stating that such are subject to a security interest held by Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.8 Power of Attorney.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.8.1** The Company hereby irrevocably appoints Lender as its lawful attorney-in-fact, exercisable upon the occurrence and during the continuance of an Event of Default, to: (a) endorse Company's name on any checks or other forms of payment or security; (b) sign Company's name on any invoice or bill of lading for any account or drafts against account debtors; (c) settle and adjust disputes and claims about the accounts directly with account debtors, for amounts and on terms Lender determines reasonable; (d) make, settle, and adjust all claims under Company's insurance policies; (e) pay, contest or settle any lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge the same; and (f) transfer the Collateral into the name of Lender or a third party as the UCC permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.8.2** Company hereby appoints Lender as its lawful attorney-in-fact to sign Company's name on any documents necessary to perfect or continue the perfection of Lender's security interest in the Collateral regardless of whether an Event of Default has occurred until all Obligations have been satisfied in full and Lender is under no further obligation to make Advances 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;**8.8.3** Lender's foregoing appointment as Company's attorney in fact, and all of Lender's rights and powers, coupled with an interest, are irrevocable until all Obligations have been fully repaid and performed and Lender's obligation to provide Advances terminates.

**ARTICLE 9**

**WARRANT**

In consideration for the Initial Advance, Company hereby agrees to sell to Lender for $1,000 to be paid at Closing, a warrant (a **"Warrant"**) in the form attached as <u>Exhibit A</u>.

**ARTICLE 10**

**INDEMNIFICATION**

Company agrees to indemnify and hold harmless Lender and its successors and assigns, together with any of its officers, members of its Governing Body, shareholders, partners, members, and/or managers (such persons, the **"Indemnified Parties"**), from and against all losses, damages, liabilities, obligations, costs or expenses (any one such item being herein called a **"Loss"** and all such items being herein collectively called **"Losses"**) which are caused by or arise out of, or (in the case of claims asserted against any Indemnified Parties by a third party) alleged to result from, arise out of or have been incurred with respect to, (a) any breach or default in the performance by Company of any covenant or agreement of Company contained in this Agreement, (b) any breach of warranty or inaccurate or erroneous representation made by Company herein or in any certificate or other instrument delivered by or on behalf of Company pursuant hereto, and (c) any and all actions, suits, proceedings, claims, demands, judgments, costs and expenses (including costs and attorneys' fees) arising out of the foregoing except when such actions, suits, proceedings, claims, demands, judgments, costs and expenses arise as a result of the grossly negligent or intentional actions or omissions of Lender. The indemnification provided in this Article 9 shall only apply, without limitation, to any act, omission, event or circumstance existing or occurring on or prior to the date of payment in full of the Obligations.

**ARTICLE 11 <br> DEFINITIONS**

**"Accountants"** has the meaning given in Section 5.7.2.

**"Adjusted Revenue Percentage"** means one percent (1.0%), and will be in effect during each twelve-month period following a Test Date on which the Company fails to meet the Adjustment Criteria.

**"Advance(s)"** means the Initial Advance, each Subsequent Advance or any one or more of them, if any.

**"Advance Period"** means the dates listed on <u>Schedule 2.1.2</u> during which the Company may receive a Subsequent Advance.

**"Applicable Revenue Percentage"** means either the Original Revenue Percentage or the Adjusted Revenue Percentage as determined in accordance with Section 2.3.3.

**"Applicable Jurisdiction"** means Delaware.

**"Certificate of Perfection"** means a Certificate of Perfection in the form provided by Lender to Company.

"**Change of Control**" means either (a) a merger or consolidation of Company with or into another entity, or other transaction, following which the stockholders of Company immediately prior to such transaction hold securities representing less than a majority of the voting power of the surviving entity or parent of the surviving entity immediately following such transaction, or (b) the sale, lease, license or other disposition of all or substantially all of Company's assets. Notwithstanding the prior sentence, the sale of the Company's equity securities in a bona fide equity financing transaction shall not be deemed a "Change of Control".

**"Closing"** has the meaning given in Section 4.1.

"**Collateral**" means those assets of Company listed on <u>Schedule 11.1</u>.

**"Company Bank"** means First Citizens Bank or Square 1 Bank.

**"Company Disclosure Schedules"** means the disclosure schedules delivered by Company pursuant to Article 3.

**"Company's Share of Transactions Costs"** means up to $7,500, which may include all or a portion of the legal fees, filing fees, due diligence expenses, and/or other costs or expenses incurred by Lender in connection with the transactions contemplated by this Agreement.

**"Dispute Notice"** has the meaning given in Section 5.7.2.

**"Event of Default"** has the meaning given in Article 7.

**"Financial Statements"** has the meaning given in Section 5.1.1.

"**Foreign Subsidiary**" means a Subsidiary of Company that is a "controlled foreign corporation," as such term is defined in Section 957 of the Internal Revenue Code of 1986, as amended.

"**Indebtedness**" means (i) indebtedness for borrowed money or the deferred price of property or services, and other obligations to pay, (ii) obligations evidenced by notes, bonds, debentures or similar instruments and (iii) capital lease obligations.

**"Initial Advance"** will be $500,000, and will be the only advance unless there are Subsequent Advances.

**"Insured Executive(s)"** means Mike Feldman and any successor Key Person.

**"Insurance Amount"** means $750,000.

**"Interest"** has the meaning given in Section 2.2.

"**IRR Target**" means twenty-five percent (25.0%) internal rate of return (using the same methodology utilized by the XIRR function in Microsoft Excel or if Microsoft Excel ceases to have such function such other methodology as shall produce the same result) on the Outstanding Advance Balance, provided, however, the IRR Target on Subsequent Advances shall be 25.0%. If there are no Subsequent Advances, the IRR Target on Subsequent Advances shall be zero.

"**Key Person**" means each of Mike Feldman and any successor Key Person.

"**Lender Account**" means the account with Silicon Valley Bank held in Lender's name with the account details as set forth in <u>Schedule 2.3.2</u>.

"**Lien**" means a claim, mortgage, deed of trust, levy, charge, pledge, security interest, or other encumbrance of any kind, whether voluntarily incurred or arising by operation of law or otherwise against any property.

**"Material"** means material in relation to the properties, business, prospects, operations, earnings, assets, liabilities and/or condition (financial or otherwise) of Company taken as a whole, whether or not in the ordinary course of business.

**"Material Adverse Effect"** means a Material adverse effect on (x) the properties, business, prospects, operations, earnings, assets, liabilities and/or the condition (financial or otherwise) of Company taken as a whole, whether or not in the ordinary course of business except to the extent that any such effect results or arises from: (A) any change in general economic conditions (except to the extent that such change affects Company Materially and disproportionately as compared to competitors of Company); or (B) any change affecting the industry generally in which Company operates (except to the extent that such change affects Company Materially and disproportionately as compared to competitors of Company); or (C) any effect relating to or arising in connection with any action required to be taken or prohibited from being taken pursuant to the terms and conditions of this Agreement; or (y) the ability of Company or any other party obligated thereunder (other than Lender) to perform its Obligations under the Transaction Documents.

**"Maturity Date"** means the earlier of: (i) the last day of the fifty-ninth (59th) month following the Effective Date, (ii) immediately prior to a Change of Control, or (iii) acceleration of the Obligations as provided in Article 8.

**"Minimum Interest"** means those amounts set forth in <u>Schedule 11.2</u>.

**"Obligations"** means the payment when due of the principal amount of all Advances and Interest and all other amounts due under this Agreement when due, whether at maturity, by acceleration, prepayment or otherwise, together with all other costs, fees, expenses, indemnities and reimbursements, as well as all other obligations of Company now or hereafter existing under this Agreement or any other Transaction Document.

**"Original Revenue Percentage"** means one-half percent (0.5%) and will be in effect beginning on the Effective Date through December 31, 2015 (inclusive), and during each twelve-month period in which the Adjusted Revenue Percentage is not in effect.

**"Outstanding Advance Balance"** means, as of any date, the aggregate amount of all Advances actually advanced by Lender to Company.

**"Payment Commencement Date"** means July 15, 2015, but only if the Closing has occurred and the Initial Advance has been made to the Company prior to such date.

**"Permitted Indebtedness"** means those liabilities and Indebtedness listed on <u>Schedule 11.3</u> attached hereto.

**"Permitted Liens"** means liens listed on <u>Schedule 11.4</u> attached hereto.

**"Person"** shall mean any individual, entity or association.

"**Revenue**" means all non-financing related cash and cash equivalents (without duplication), other than cash received from bona fide financing transactions, received by the Company, any one or more of its Subsidiaries during the applicable period.

**"Revenue Loan Amount"** means $750,000.

"**Related Business**" means any business (whether operated as a sole proprietorship, partnership, corporation or other entity or association) operating in a market or market segment that is substantially similar to Company's business or that is a logical extension of the Company's business and which is owned and/or operated by Company (whether or not as a Subsidiary), the Key Person, officer, member of its Governing Body, member or manager of the Company or any affiliated entities or direct family members of the foregoing; provided, however, a Related Business does not include a publicly traded business of which any of the foregoing persons or entities owns less than 2% of the outstanding voting securities thereof.

**"Settled Audit Amount"** has the meaning given in Section 5.7.2.

"**Senior Indebtedness**" means all secured Indebtedness of Company, now existing or hereafter arising, to banks or other institutional lenders such as savings and loan associations, savings banks, life insurance companies, commercial banks, and pension funds. For the avoidance of doubt, in no case shall Senior Indebtedness include any Indebtedness to (a) the Key Person, (b) any Related Business, (c) any officer, manager, member of its Governing Body, or equity holder of the Company or a Related Business, (d) any member of the extended family of any of the forgoing, (e) any entity in which any of the forgoing have a direct or indirect pecuniary interest (other than via publicly traded stock) or any of such entity's officers, managers, members of its Governing Body, or equity holders.

"**Senior Lender**" means any creditor that holds Senior Indebtedness.

**"Subsequent Advances"** mean all Advances made by Lender to Company following the Initial Advance.

"**Subsidiary**" means, with respect to any Person, any corporation or other Person of which more than 50% of the outstanding equity interests having ordinary voting power to elect a majority of the board of directors, board of managers or other governing body of such Person, is at the time, directly or indirectly, owned or controlled by such Person and one or more of its other Subsidiaries or a combination thereof (irrespective of whether, at the time, securities of any other class or classes of any such corporation or other Person shall or might have voting power by reason of the happening of any contingency). Except when the context requires otherwise, the term "Subsidiary" shall be deemed to refer to a Subsidiary of Company.

**"Transaction Documents"** means this Agreement, the Warrant, and all exhibits and schedules to this Agreement as well as all other agreements executed or delivered by Company, any guarantor or party granting security interests or providing credit enhancements in connection with this Agreement, one or more of the Advances or any Collateral for the Obligations.

**"Warrant"** has the meaning given in Article 9.

**ARTICLE 12<br> MISCELLANEOUS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1 Survival and Confirmation of Representations and Warranties**. The warranties, representations and covenants of Company and Lender and the indemnification obligations of each party contained in or made pursuant to this Agreement shall survive the execution and delivery of this Agreement and the Closing and shall in no way be affected by any investigation of the subject matter thereof made by or on behalf of Lender or Company. All of the representations and warranties set forth herein shall be deemed to be repeated and reaffirmed on the day of each Advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2 Successors and Assigns**. Company may not assign its rights or delegate its Obligations under this Agreement without Lender's prior written consent, except in connection with a Change of Control. Other than an assignment to an affiliate of Lender, which shall be considered a permitted assignment, Lender shall not assign any of its rights or obligations under this Agreement without Company's prior written consent (such consent not to be unreasonably withheld), except that Company's consent shall not be required during the existence of an Event of Default. Notwithstanding anything herein to the contrary, Lender shall not sell or assign any of its rights or obligations under this Agreement to any Person that is a competitor of Company. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the parties' respective successors and assigns. Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties hereto or their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3 Governing Law**. This Agreement shall be governed by and construed under the substantive laws of the Applicable Jurisdiction without regard to the conflicts of law provisions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.4 Jurisdiction and Venue.** If Lender initiates a claim in connection with any matter based upon or arising out of this Agreement, the Transaction Documents or the matters contemplated herein or therein, each of Lender and Company irrevocably consents to the exclusive jurisdiction and venue of any federal court within Charlotte, North Carolina, and agrees that process may be served upon them in any manner authorized by the laws of North Carolina for such persons. If the Company initiates a claim in connection with any matter based upon or arising out of this Agreement, the Transaction Documents or the matters contemplated herein or therein, each of Lender and Company irrevocably consents to the exclusive jurisdiction and venue of any federal court within Palo Alto, California, and agrees that process may be served upon them in any manner authorized by the laws of California for such persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.5 Titles and Subtitles**. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.6 Notices**. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified; (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day; (iii) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (iv) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the address as set forth on the first page of this Agreement or at such other address as such party may designate by ten days' advance written notice to the other parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.7 Fees and Expenses**. Irrespective of whether the Closing is completed, Company shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance of this Agreement. If the Closing is completed, Company shall, at the Closing, pay the fees and expenses of Lender (including reasonable fees and expenses of counsel for Lender) up to the Company's Share of Transaction Costs. Following Closing, Company shall promptly reimburse Lender for all reasonable, documented out-of-pocket costs, fees and expenses (including accounting, appraisal, consulting, and attorneys' fees) incurred by Lender in connection with either (i) any breach or default by Company under the Transaction Documents or (ii) a request by Company to modify or waive the Transaction Documents and otherwise change or affect the rights of the Lender or Obligations of the Company pursuant to the Transaction Documents. In addition, Company shall pay a service fee to Decathlon Capital Partners, LLC (or other loan servicing agent) of $500 if any payment or Monthly Questionnaire due pursuant to this Agreement is not paid or submitted when due; such service fee shall accrue and be due on the day following the due date of any payment and successive service fees shall be due on the 15th day of each month until Company has paid such past due amounts and submitted all past due Monthly Questionnaires (as applicable) and will accrue interest at a rate of 10% from the date of billing. Accrued but unpaid service fees, whether previously noticed or not, will be billed in writing to the Company at Lender's discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.8 Amendments and Waivers**. No failure on the part of Lender to exercise and no delay in exercising any power or right hereunder or under any other Transaction Document shall operate as a waiver thereof; nor shall any single or partial exercise of any power or right preclude any other or further exercise thereof or the exercise of any other power or right. The remedies herein and in any other instrument, document or agreement delivered or to be delivered to Lender hereunder or in connection herewith are cumulative and not exclusive of any remedies provided by law. No notice to or demand on Company not required hereunder shall in any event entitle Company to any other or further notice or demand in similar or other circumstances or constitute a waiver of the right of Lender to any other or further action in any circumstances without notice or demand. No amendment, modification or waiver of any provision of this Agreement or any other Transaction Document or consent to any departure by Company therefrom shall be effective unless the same shall be in writing and signed by Lender and Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.9 Severability**. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.10 Entire Agreement**. This Agreement and the documents referred to herein constitute the entire agreement among the parties and supersede any prior agreements or understandings regarding the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.11 Representation of Lender**. Lender is an accredited investor as defined in Rule 501(a) of Regulation D and has such business and financial experience as necessary to enable it to protect its interests in connection with the transactions contemplated by this Agreement. The Lender has had the opportunity to ask questions and to receive answers and to obtain the information concerning the Company and the transactions contemplated by this Agreement that it has deemed material and necessary to evaluate the merits and risks of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.12 Termination**. This Agreement shall terminate upon indefeasible satisfaction of Company's Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.13 Counterparts**. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Delivery of an executed counterpart of a signature page to this Agreement by facsimile, portable document format (.pdf) or other electronic transmission shall be equally as effective as delivery of a manually executed counterpart of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.14 Costs of Enforcement**. Company agrees to pay all costs, fees and expenses of enforcement, collection, or preservation of collateral (including reasonable attorneys' fees) that Lender incurs in connection with any default or Event of Default hereunder (whether before or after any cure). Additionally, Company agrees to pay all costs, fees and expenses (including reasonable attorneys' fees) that Lender incurs, before or after any default or Event of Default as a result of any litigation or other action in which Lender becomes involved as a party, witness or otherwise as a result of making the Advances evidenced by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.15 Waiver of Jury Trial**. Company hereby knowingly, voluntarily and intentionally **WAIVES THE RIGHT TO TRIAL BY JURY** in respect of any litigation based herein, arising out of, under or in connection with this Agreement or any other Transaction Document or any course of conduct, course of dealings, statements (whether verbal or written) or acts of either party, or any exercise by any party of their respective rights under this Agreement or any other Transaction Document. Company hereby acknowledges that this waiver of jury trial is a material inducement to Lender in extending credit to Company, that Lender would not have extended credit without this waiver of jury trial, and that Company has had an opportunity to consult with an attorney in connection with this waiver of jury trial and understands the legal effect of this waiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.16 Waiver of Notices and Hearing**. Company by entering into this Agreement and negotiating the terms hereof, voluntarily, intelligently and knowingly waives any rights it may have to demand any notices other than those provided for herein and any right to a hearing as a condition precedent to Lender's exercise of its rights to foreclose on any Collateral. All makers, endorsers, sureties, guarantors and other accommodation parties hereby waive presentment for payment, protest and notice of nonpayment and consent, without affecting their liability hereunder, to any and all extensions, renewals, substitutions and alterations of any of the terms of this Agreement and to the release of or failure by Lender to exercise any rights against any party liable for or any property securing payment thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.17 Confidentiality**. Neither the Company nor any of its officers, members of its Governing Body, employees, agents, or equity holders shall disclose this Agreement, the terms hereof or any related transactions or agreements to any third party other than the Company's affiliates and their respective advisors, accountants and attorneys, without the prior written approval of Lender. Each of Company and Lender agree to maintain the confidential information of the other party as follows. In handling any confidential information of the other party, Lender and Company and all employees and agents of each such party shall exercise the same degree of care that such party exercises with respect to its own proprietary information of the same types to maintain the confidentiality of any non-public information received pursuant to this Agreement except that disclosure of such information may be made (i) in the case of Lender, to the subsidiaries or affiliates of Lender in connection with their present or prospective business relations with Company, provided that such subsidiaries or affiliates of Lender are bound by confidentiality obligations substantially similar to Lender's confidentiality obligations herein, (ii) in the case of Lender, to prospective transferees or purchasers of any interest in the Obligations, provided that they have entered into a comparable confidentiality agreement in favor of Company and have delivered a copy to Company, (iii) as required by law, regulations, rule or order, subpoena, judicial order or similar order, (iv) as Lender may determine in connection with the enforcement of any remedies hereunder and (v) in the case of Company, to Company's lenders and prospective investors, provided that they have entered into a comparable confidentiality agreement with Company. Confidential information hereunder shall not include information that either: (a) is in the public domain or in the knowledge or possession of the receiving party when disclosed to such party, or becomes part of the public domain after disclosure to such receiving party through no fault of such receiving party; or (b) is disclosed to such receiving party by a third party, provided such receiving party does not have actual knowledge that such third party is prohibited from disclosing such information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.18 Subordination to Senior Indebtedness**. Notwithstanding anything herein to the contrary, the Obligations evidenced by this Agreement and the other Transaction Documents, the Liens and security interests granted to Lender pursuant to the terms hereof and thereof and the exercise of any right or remedy by Lender hereunder or thereunder are subject to the provisions of any subordination agreement (a "**Subordination Agreement**") entered into between Lender and any Senior Lender. In the event of any conflict between the terms of any Subordination Agreement and any other Transaction Agreement, the terms of the Subordination Agreement shall govern. Notwithstanding anything that may be contained herein to the contrary, all of the provisions of the Transaction Documents, including without limitation, the covenants of Company contained herein and therein and all of the rights, remedies and powers provided for herein and therein, are subject to the provisions of any Subordination Agreement (it being understood that any breach by Company of its obligations hereunder or thereunder shall nonetheless constitute a default (and to the extent provided herein or therein, an Event of Default) hereunder or thereunder, as applicable, notwithstanding the foregoing).

**The signature pages follow.**

The parties have executed this Agreement as of the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1VISIONS, INC. | T1VISIONS, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |

---

Revenue Loan and Security Agreement – Signature page

F&B Draft 11/4/2015

**FIRST AMENDMENT TO REVENUE LOAN AND SECURITY AGREEMENT**

This first amendment (this **"Amendment"**) to that certain Revenue Loan and Security Agreement dated July 1, 2015 (the **"Agreement"**), by and between T1Visions, Inc., a Delaware corporation (the "**Company**"), and Decathlon Alpha II, L.P., a Delaware limited partnership ("**Lender**"), is effective as of November 10, 2015 (the "**First Amendment Date**"). Unless otherwise defined herein, all capitalized terms shall be given their respective meanings as set forth in the Agreement.

The Company and the Lender desire to amend the Agreement to set forth changes to the Agreement. The Company and the Lenders hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Amendments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Definitions</u>. The following definitions set forth in <u>Article 11</u> of the Agreement are hereby amended and restated in their entirety to read as follows:

"**Insurance Amount**" means $1,250,000.

"**Revenue Loan Amount**" means $1,250,000."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Schedule 2.1.2</u>. An amended and restated <u>Schedule 2.1.2</u> to the Agreement is attached hereto
as <u>Schedule 2.1.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. <u>Schedule 2.3.2(b)</u>. An amended and restated <u>Schedule 2.3.2(b)</u> to the Agreement is attached
hereto as <u>Schedule 2.3.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Senior Indebtedness Compliance.</u> Company and Lender acknowledge that Company's
acceptance of the Subsequent Advances under the Agreement and this Amendment have caused and in the future might cause the aggregate amount
of all Senior Indebtedness to exceed the Senior Indebtedness Cap as set forth in <u>Section 5.19(ii)</u> of the Agreement. Lender hereby
waives, for the period beginning on October 1, 2015 and ending on April 1, 2016 (the "**Senior Indebtedness Grace Period** "),
any automatic increases to the Minimum Interest that otherwise would have occurred under <u>Section 8.3</u> of the Agreement due to noncompliance
with <u>Section 5.19(ii)</u> of the Senior Indebtedness Cap. For the avoidance of doubt, Lender is not waiving the requirement that Company
comply with <u>Section 5.19(i)</u> of the Senior Indebtedness Cap during the Senior Indebtedness Grace Period or any other period during
the term of the Agreement. As a condition precedent to Lender's waiver, and notwithstanding anything to the contrary in the Agreement,
Company agrees not to create, incur, assume, guarantee, or otherwise become liable for any additional Indebtedness (including Permitted
Indebtedness but excluding Company's Indebtedness to Lender under this Agreement and the other Transaction Documents) during the
Senior Indebtedness Grace Period without Lender's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Transaction Costs</u>. Pursuant to <u>Section 12.7</u> of the Agreement and
in connection with the Subsequent Advances contemplated by this Amendment, the Company shall promptly reimburse Lenders for legal fees
and expenses incurred in connection with this Amendment and related transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>No Other Changes</u>. In all other respects, the Agreement shall remain in full force and effect.

*[Signature page follows]*

 

 

 

First Amendment to Revenue Loan and Security Agreement – Page 1

The parties have executed this Amendment to the Agreement as of the date first written above.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1VISIONS, INC. | T1VISIONS, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |

---

Signature page to First Amendment to Revenue Loan and Security Agreement

**SCHEDULE 2.1.2**

**SUBSEQUENT ADVANCE AMOUNT**

The Company is not required to request or accept any Subsequent Advances but is permitted to draw the following Subsequent Advances at its discretion according to the following schedule:

---

| | |
|:---|:---|
| **Subsequent Advance Amount** | **Advance Period** |
| $250,000\* | Between 9/1/2015 and 12/30/2015 |
| $100000 | Between 11/20/2015 and 12/31/2015 |
| $100000 | Between 1/15/2016 and 8/31/2016 |
| $100000 | Between 3/15/2016 and 8/31/2016 |
| $100000 | Between 5/15/2016 and 8/31/2016 |
| $100000 | Between 6/15/2016 and 8/31/2016 |

---

\* Company acknowledges that it has requested and accepted the full $250,000 in Subsequent Advances represented by the first line item above prior to the First Amendment Date.

Schedules to First Amendment to Revenue Loan and Security Agreement

**SCHEDULE 2.3.2(b)**

**PRO FORMA PAYMENT SCHEDULE**

*See attached.*

 

 

 

*Schedules to First Amendment to Revenue Loan and Security Agreement* 

 

*F&B draft March 9, 2016*

 

**SECOND AMENDMENT TO SUBORDINATED REVENUE LOAN AGREEMENT[;**

**SUBSEQUENT ADVANCE REQUEST]**

This second amendment (this "**Amendment**") to that certain Revenue Loan and Security Agreement dated July 1, 2015, as amended by that first amendment to Revenue Loan and Security Agreement dated November 10, 2015 (collectively, the "**Agreement**"), by and between T1Visions, Inc., a Delaware corporation (the "**Company**") and Decathlon Alpha II, L.P., a Delaware limited partnership ("**Decathlon II**"), is effective March 10, 2016. Unless otherwise defined herein, all capitalized terms shall be given their respective meanings as set forth in the Agreement.

Pursuant to Section 12.2 of the Agreement, Decathlon II desires to assign the right to make Subsequent Advances under the Agreement to its Affiliate, Decathlon Alpha III, L.P., a Delaware limited partnership ("**Decathlon III**," and together with Decathlon, "**Lender**"). [In addition, the Company desires to obtain from Lender a Subsequent Advance in the amount of

$100,000.

The Company and the Lender hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Additional Lender; Assignment**. The Company and Decathlon hereby agree that Decathlon III shall be added as a lender under the Agreement and shall have all of the rights, duties, and obligations of Decathlon II under the Agreement. Decathlon II hereby assigns its right to make Subsequent Advances to the Company to Decathlon III and Decathlon III hereby accepts the assignment of the right to make Subsequent Advances to the Company from Decathlon. All Subsequent Advances to be made under the Agreement on and after the date of this Amendment (including the Subsequent Advance contemplated by Section 2 of this Amendment) shall be made by Decathlon III to the Company; *provided* that nothing in this section shall be construed as a waiver of any of the conditions of Lender to make any Subsequent Advance. Unless the context clearly indicates otherwise, for all purposes under the Agreement, as amended hereby, the term "**Lender**" shall refer to both Decathlon II and Decathlon III.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Subsequent Advance**. Pursuant to Section 2.1.2 of the Agreement, the Company hereby requests from Lender a Subsequent Advance in the amount of $100,000. The Company represents and warrants to Lender that, as of the date of this Amendment, the Company has satisfied the conditions to such Subsequent Advance set forth on <u>Schedule 2.1.2</u> of the Agreement. In connection with and as a further condition to the advancement of the requested Subsequent Advance by the Lender to the Company, the Company hereby certifies to Lender 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;2.1. the amount of all Advances previously advanced to the Company by Lender plus the additional Subsequent Advance does not exceed the Revenue Loan 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;2.2. the amount of all previous Subsequent Advances plus the new Advance so requested does not exceed the amount of Subsequent Advances permitted as shown on Schedule 2.1.2 of the Loan Agreement for the applicable Advance Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. no Event of Default has occurred;

&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. in connection with the Advance Request, the Company hereby confirms, represents, and warrants that the Certificate of Perfection delivered in connection with the Closing remains complete and accurate in all respects and that this certificate reaffirms the information set forth therein as though such Certificate of Perfection were given 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;&nbsp;&nbsp;&nbsp;&nbsp;2.5. all representations and warranties of the Company in Section 3 of the Agreement are true as the date hereof (except to the extent any such representations and warranties expressly relate to an earlier date, in which case as of such earlier 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;2.6. the Advance Request is for a Subsequent Advance of at least $100,000 as required by Section 2.1.2(vi);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7. the Key Person Agreements remain in effect and have not been terminated, amended, restated, supersedved or otherwise modified or replaced; 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;2.8. the Company has performed and complied with all covenants, agreements, obligations and conditions contained in the Loan Agreement that are required to be performed or complied with by it on or before receiving the Additional Subsequent Advance.]

&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. No Other Changes**. In all other respects, the Agreement shall remain in full force and effect.

*[Signatures on following page]*

 

The parties have executed this first amendment to the subordinated revenue loan agreement as of the date first written above.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1VISIONS, INC. | T1VISIONS, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |
| DECATHLON ALPHA III, L.P. | DECATHLON ALPHA III, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Member |

---

*Signature page to Second Amendment to Revenue Loan and Security Agreement*

 

***Execution Version***

 ****

**THIRD AMENDMENT TO REVENUE LOAN AND SECURITY AGREEMENT**

This third amendment (this **"Amendment"**) to that certain Revenue Loan and Security Agreement dated July 1, 2015, as amended by that First Amendment to Revenue Loan and Security Agreement dated November 10, 2015, that Second Amendment to Subordinated Revenue Loan Agreement; Subsequent Advance Request dated March 10, 2016 (collectively, the **"Agreement"**), by and between TIV, Inc., a Delaware corporation (the "Company"), Decathlon Alpha II, LP., a Delaware limited partnership (**"Decathlon II"**), and Decathlon Alpha III, L.P., a Delaware limited partnership (**"Decathlon III,"** and together with Decathlon, **"Lender"**) is effective September l2, 2017 (the **"Third Amendment Date"**). Unless otherwise defined herein, all capitalized terms have the meanings given to them in the Agreement.

The Company and Lender desire to amend certain terms of the Agreement as set forth below. The Company, Lender and Key Persons hereby agree as follows:

**1.** **Amendment.** <u>Section 8.3</u> of the Agreement is hereby amended and restated as follows (additions are *<u>italicized and underlined</u>* and deletions are struck through):

---

| | |
|:---|:---|
| **"8.3** | **Senior Indebtedness Compliance.** During the term of this Agreement, for any month during which the aggregate amount of Company's Senior Indebtedness exceeds the Senior Indebtedness Cap (a "Noncomplying Month"), *<u>then, at Lender's election (with such election to made at any time prior to the date on which all Obligations have been indefeasibly repaid), either (i)</u>* the applicable Minimum Interest will automatically increase by 0.015 times the Outstanding Advance Balance for each Noncomplying Month, *<u>or (ii) the IRR Target will increase by 0.015% for each Noncomplying Month;</u> provided* that the applicable *<u>remedy will be effective</u>* Minimum interest will be increased regardless of whether Lender notifies the Company of any non-compliance with its Senior Indebtedness covenant during any Noncomplying Month; *provided, further* that Lender shall be permitted to audit the books and records of the Company at any time, including in connection with a payment of all Obligations, in accordance with the procedures established in Section 5.7 of this Agreement. *<u>All such increases shall he cumulative in nature.</u>* For the avoidance of doubt, if the *<u>Lender elects to increase the</u>* Minimum Interest is increased pursuant to this Section 8.3 during any measurement period set forth on <u>Schedule 11.2,</u> such increase shall apply to each subsequent measurement period set forth on <u>Schedule 11.2."</u> |

---

**2.** **Transaction Costs.** Pursuant to <u>Section 12.7(ii)</u> of the
 Agreement and in connection with the Subsequent Advance contemplated by this Amendment, the Company shall
 promptly reimburse Lender an amount up to $500.00 for fees and expenses relating to this Amendment and
 the making of the contemplated Subsequent Advance.

**3.** **No Other Changes.** In all other respects, the Agreement
 shall remain in full force and *effect.* 

*[Signatures on following page]*

The parties have executed this Amendment as of the Third Amendment Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **TIV, INC.** | **TIV, INC.** |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |

---

---

| | |
|:---|:---|
| **LENDER:** | **LENDER:** |
| **DECATHLON ALPHA II, L.P.** | **DECATHLON ALPHA II, L.P.** |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |

---

---

| | |
|:---|:---|
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |

---

---

| | |
|:---|:---|
| **DECATHLON ALPHA III, L.P.** | **DECATHLON ALPHA III, L.P.** |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |

---

---

| | |
|:---|:---|
| By: | /s/ John Borchers |
|  | John Borchers, Member |

---

*Signature page to Third Amendment to Revenue Loan and Security Agreement*

*Execution Version*

 

**FOURTH AMENDMENT TO REVENUE LOAN AND SECURITY AGREEMENT**

This fourth amendment (this "**Amendment**") to that certain Revenue Loan and Security Agreement dated July 1, 2015, as amended by that First Amendment to Revenue Loan and Security Agreement dated November 10, 2015, that Second Amendment to Subordinated Revenue Loan Agreement; Subsequent Advance Request dated March 10, 2016, and that Third Amendment to Subordinated Revenue Loan Agreement dated September 12, 2017 (collectively, the "**Agreement**"), by and between T1V, Inc., a Delaware corporation (the "**Company**"), Decathlon Alpha II, L.P., a Delaware limited partnership ("**Decathlon II**"), and Decathlon Alpha III, L.P., a Delaware limited partnership ("**Decathlon III**," and together with Decathlon, "**Lender**") is effective September 16, 2020 (the "**Fourth Amendment Date**"). Unless otherwise defined herein, all capitalized terms have the meanings given to them in the Agreement.

The Company and Lender desire to amend certain terms of the Agreement as set forth below.

The Company, Lender and Key Persons hereby agree as follows:

1. Amendments .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Definitions</u>. The following definitions set forth in <u>Article 11</u> of the Agreement are hereby amended and restated in their entirety to read as follows:

"**IRR Target**" means 23.75% internal rate of return (using the same methodology utilized by the XIRR function in Microsoft Excel or if Microsoft Excel ceases to have such function such other methodology as shall produce the same result) on the Outstanding Advance Balance. The IRR Target on Subsequent Advances shall be 23.75%. If there are no Subsequent Advances, the IRR Target on Subsequent Advances shall be zero.

**"Maturity Date"** means the earlier of: (i) June 15, 2021, (ii) immediately prior to a Change of Control, or (iii) acceleration of the Obligations as provided in Article 8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Schedule 2.3.2(b)</u>. An amended and restated <u>Schedule 2.3.2(b)</u> to the Agreement is attached
hereto as <u>Schedule 2.3.2(b)</u>.

2. **Gross Proceeds Warrant**. In consideration of Lender's agreement to
extend the Maturity Date and reduce the IRR Target pursuant to this Amendment, the Company shall issue to Lender one or more gross proceeds
warrants in the form attached as <u>Exhibit A</u> (the "**2020 Warrant(s)**") at the time and with an aggregate "Buyout
Percentage" (as defined in the 2020 Warrant(s)) equal to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If th <u>e C</u> ompany
 pays the entire Outstanding Advance Balance, Interest, and all other Obligations due under
 the Agreement on or before December 31, 2020, then the Company shall issue to Lender on the
 Payoff Date one or more 2020 Warrant(s) with an aggregate "Buyout Percentage"
 equal to 0.65%;

<u> </u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Company pays the entire Outstanding Advance Balance, Interest, and all other
Obligations due under the Agreement after December 31, 2020 and on or before March 31, 2021, then the Company shall issue to Lender on
the Payoff Date one or more 2020 Warrant(s) with an aggregate "Buyout Percentage" equal to 0.75%; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If the Company fails to pay the entire Outstanding Advance Balance, Interest,
and all other Obligations due under the Agreement on or before March 31, 2021, then the Company shall issue to Lender on March 31, 2021
one or more 2020 Warrant(s) with an aggregate "Buyout Percentage" equal to 1.00%.

In each case, Lender has discretion and will instruct the Company how to allocate the 2020 Warrant(s) between Decathlon II and Decathlon III such that the aggregate "Buyout Percentage" among the 2020 Warrant(s) is equal to the amounts stated above. For example, if the Company paid the entire Outstanding Advance Balance, Interest, and all other Obligations due under the Agreement on or before December 31, 2020, then Lender could instruct the Company to issue a 2020 Warrant(s) with a "Buyout Percentage" equal to 0.325% to each of Decathlon II and Decathlon III on the Payoff Date such that the aggregate "Buyout Percentage" among the two 2020 Warrant(s) equaled 0.65%.

3. **Put Option Exercisable upon a Qualified Financing.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. <u>Definitions</u>. For purposes of Section 3 of this Amendment, the following terms have meanings given
below:

"**Fair Market Value**" means the fair market value per Share as determined by the Company's board of directors in its most recent valuation of the Company and agreed to by the Company and the Holder in good faith; provided, however, if the Company and the Holder are unable to agree that the board of directors' most recent valuation accurately reflects the fair market value per Share within a reasonable period of time (not to exceed 10 days from the Company's receipt of the Put Exercise Notice), then the fair market value will be determined by an independent, nationally recognized investment banking, accounting or valuation firm jointly selected by the Company and the Holder in good faith. If the "Fair Market Value" determined by such investment banking, accounting or valuation firm is within 10% of the Fair Market Value determined by the Company's board of directors, the Holder will bear the cost of such valuation. Otherwise the cost of such valuation will be borne by the Company.

"**Holder**" means the holder of the applicable Outstanding Warrant at the time the Put Right is exercised.

"**Outstanding Warrants**" means the 2020 Warrant(s) described in Section 2 of this Amendment as well as the Warrant dated July 1, 2015, as amended November 10, 2015, issued by the Company to Decathlon II with an amended "Buyout Percentage" equal to 0.90%.

"**Put Commencement Date**" means the date on which the Company completes a Qualified Financing.

"**Put Termination Date**" means the later of (i) 30 days following the Put Commencement Date and (ii) 10 days following the Holder's receipt of written notice from the Company that it has completed a Qualified Financing.

"**Put Purchase Price**" means the Fair Market Value of the Put Shares as of the Put Commencement Date.

"**Shares**" has meaning given in the applicable Outstanding Warrant.

"**Qualified Financing**" means an offering of equity securities of the Company from which the Company receives at least $5,000,000 in gross proceeds upon closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. <u>Grant of Put Option</u>. The Company shall notify the Holder in writing promptly
following completion of a Qualified Financing. At any time on or after the Put Commencement Date and before the Put Termination Date,
the Holder has the right (the "**Put Right** "), but not the obligation, to cause the Company to purchase all or a portion
of the Shares at the Put Purchase Price. If the Holder desires to sell any of the Shares pursuant to this Section, the Holder will deliver
to the Company a written notice (the "**Put Exercise Notice**") exercising the Put Right and specifying the number of Shares
to be sold (the "**Put Shares**") by the Holder. At the closing of the purchase and sale of the Shares, the Holder shall
deliver to the Company (i) a certificate in form and substance acceptable to the Company's counsel, and signed by the Holder, that
contain customary, fundamental representations and warranties from the Holder (including that the Shares being sold are owned by the Holder
and are being conveyed free and clear of all liens, encumbrances, charges and other claims) and (ii) such other customary documents, instruments
and certificates as the Company may reasonably request. Within 90 days after receipt of the Put Exercise Notice, the Company must pay
the Put Purchase Price for the Shares by wire transfer of immediately available funds to the account of the Holder described in the Put
Exercise Notice. The Company will be entitled to deduct or withhold from any amount owing to the Holder hereunder any applicable withholding,
excise or other taxes imposed by applicable law. The Company shall notify the Holder at the time of any such deduction or withholding,
including the basis therefor. The Company and the Holder each shall take all actions as may be reasonably necessary to consummate the
sale contemplated by this Section, including, without limitation, entering into agreements and delivering certificates and instruments
and consents as may be deemed necessary or appropriate. The provisions of Section 3 of this Amendment will survive termination of the
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Identifying a Buyer, Investor or Lender**. The Company must (i) engage a third-party
investment banking firm or capital formation advisor approved by Lender for the purpose of identifying a prospective buyer of, investor
in or lender to the Company or (ii) be in bona fide active negotiations respecting a term sheet for the prospective sale of the Company
or for a loan to or equity investment in the Company that would allow the Company to repay the entire Outstanding Advance Balance, Interest,
and all other Obligations due under the Agreement. The Company shall use its reasonable best efforts to engage an investment banker pursuant
to clause (i) or enter into bona fide active
negotiations pursuant to clause (ii) no later than October 31, 2020. The Company agrees to instruct and authorize any investment banker
or advisor engaged by the Company to communicate with and report to Lender throughout the sales process. The Company further agrees to
take any affirmative steps necessary to waive any confidentiality arrangements between the Company and the investment banker or advisor
to the extent such arrangements would otherwise restrict Lender's access to information about the sales process or communications
between the Company and the investment banker or advisor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **Transaction Costs**. Pursuant to <u>Section 12.7(ii)</u> of the Agreement,
the Company shall promptly reimburse Lender for all fees and expenses relating to this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **No Other Changes**. In all other respects, the Agreement shall remain in full force and effect.

*[Signatures on following page]*

 

The parties have executed this Agreement as of the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |
| DECATHLON ALPHA III, L.P. | DECATHLON ALPHA III, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Member |

---

*Signature page to Fourth Amendment to Revenue Loan and Security Agreement*

**SCHEDULE 2.3.2(b)**

**PRO-FORMA PAYMENT SCHEDULE**

*See attached.*

 

**T1 Visions, Inc.**

---

| | | |
|:---|:---|:---|
| **Summary** | |  |
| Total Principal | $1250000 |  |
| Total Interest | $2596245 |  |
| Total Payments | $3846245 |  |
| IRR | 23.75 | % |
| Projected cash-on-cash mu | 3.08 | x |
| Projected term in months | 72 |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Mth** | **Date** | **Revenue** | **Pmt %** | **Payment** | **Loan Advancement** |
| 0 | 7/1/15 | $695583 | 0 | 0 | $500000 |
| 1 | 7/15/15 | $695583 | 0.50% | $3329 | $- |
| 2 | 8/15/15 | $695583 | 0.50% | $1111 | $- |
| 3 | 9/15/15 | $695583 | 0.50% | $1408 | $- |
| 4 | 10/15/15 | $695583 | 0.50% | $1994 | $250000 |
| 5 | 11/15/15 | $695583 | 0.50% | $1557 | $- |
| 6 | 12/15/15 | $695583 | 0.50% | $1739 | $100000 |
| 7 | 1/15/16 | $1666667 | 0.50% | $5405 | $100000 |
| 8 | 2/15/16 | $1666667 | 0.50% | $3118 | $- |
| 9 | 3/15/16 | $1666667 | 0.50% | $2488 | $100000 |
| 10 | 4/15/16 | $1666667 | 0.50% | $2653 | $- |
| 11 | 5/15/16 | $1666667 | 0.50% | $1664 | $100000 |
| 12 | 6/15/16 | $1666667 | 0.50% | $1690 | $100000 |
| 13 | 7/15/16 | $1666667 | 0.50% | $1793 | $- |
| 14 | 8/15/16 | $1666667 | 0.50% | $2220 | $- |
| 15 | 9/15/16 | $1666667 | 0.50% | $2166 | $- |
| 16 | 10/15/16 | $1666667 | 0.50% | $4442 | $- |
| 17 | 11/15/16 | $1666667 | 0.50% | $2966 | $- |
| 18 | 12/15/16 | $1666667 | 0.50% | $2333 | $- |
| 19 | 1/15/17 | $3715800 | 0.50% | $2595 | $- |
| 20 | 2/15/17 | $3715800 | 0.50% | $1507 | $- |
| 21 | 3/15/17 | $3715800 | 0.50% | $1517 | $- |
| 22 | 4/15/17 | $3715800 | 0.50% | $2248 | $- |
| 23 | 5/15/17 | $3715800 | 1.00% | $2816 | $- |
| 24 | 6/15/17 | $3715800 | 1.00% | $3128 | $- |
| 25 | 7/15/17 | $3715800 | 1.00% | $7562 | $- |
| 26 | 8/15/17 | $3715800 | 1.00% | $4553 | $- |
| 27 | 9/15/17 | $3715800 | 1.00% | $5586 | $- |
| 28 | 10/15/17 | $3715800 | 1.00% | $4376 | $- |
| 29 | 11/15/17 | $3715800 | 1.00% | $6483 | $- |
| 30 | 12/15/17 | $3715800 | 1.00% | $8529 | $- |
| 31 | 1/15/18 | $7490400 | 1.00% | $6030 | $- |
| 32 | 2/15/18 | $7490400 | 1.00% | $4805 | $- |
| 33 | 3/15/18 | $7490400 | 1.00% | $6772 | $- |
| 34 | 4/15/18 | $7490400 | 1.00% | $7690 | $- |
| 35 | 5/15/18 | $7490400 | 1.00% | $4529 | $- |
| 36 | 6/15/18 | $7490400 | 1.00% | $3083 | $- |
| 37 | 7/15/18 | $7490400 | 1.00% | $11003 | $- |
| 38 | 8/15/18 | $7490400 | 1.00% | $4643 | $- |
| 39 | 9/15/18 | $7490400 | 1.00% | $6198 | $- |
| 40 | 10/15/18 | $7490400 | 1.00% | $9896 | $- |
| 41 | 11/15/18 | $7490400 | 1.00% | $5965 | $- |
| 42 | 12/15/18 | $7490400 | 1.00% | $9516 | $- |
| 43 | 1/15/19 | $8427375 | 1.00% | $8366 | $- |
| 44 | 2/15/19 | $8427375 | 1.00% | $6544 | $- |
| 45 | 3/15/19 | $8427375 | 1.00% | $8224 | $- |
| 46 | 4/15/19 | $8427375 | 1.00% | $15032 | $- |
| 47 | 5/15/19 | $8427375 | 1.00% | $9964 | $- |
| 48 | 6/15/19 | $8427375 | 1.00% | $6726 | $- |
| 49 | 7/15/19 | $8427375 | 1.00% | $9213 | $- |
| 50 | 8/15/19 | $8427375 | 1.00% | $6400 | $- |
| 51 | 9/15/19 | $8427375 | 1.00% | $8012 | $- |
| 52 | 10/15/19 | $8427375 | 1.00% | $13533 | $- |
| 53 | 11/15/19 | $8427375 | 1.00% | $6847 | $- |
| 54 | 12/15/19 | $8427375 | 1.00% | $7183 | $- |
| 55 | 1/15/20 | $9480000 | 1.00% | $13245 | $- |
| 56 | 2/15/20 | $9480000 | 1.00% | $10850 | $- |
| 57 | 3/15/20 | $9480000 | 1.00% | $8118 | $- |
| 58 | 4/15/20 | $9480000 | 1.00% | $8496 | $- |
| 59 | 5/15/20 | $9480000 | 1.00% | $5425 | $- |
| 60 | 6/15/20 | $850000 | 1.00% | $3858 | $- |
| 61 | 7/15/20 | $850000 | 1.00% | $8500 | $- |
| 62 | 8/15/20 | $850000 | 1.00% | $8500 | $- |
| 63 | 9/15/20 | $850000 | 1.00% | $8500 | $- |
| 64 | 10/15/20 | $850000 | 1.00% | $8500 | $- |
| 65 | 11/15/20 | $850000 | 1.00% | $8500 | $- |
| 66 | 12/15/20 | $850000 | 1.00% | $8500 | $- |
| 67 | 1/15/21 | $850000 | 1.00% | $8500 | $- |
| 68 | 2/15/21 | $850000 | 1.00% | $8500 | $- |
| 69 | 3/15/21 | $850000 | 1.00% | $8500 | $- |
| 70 | 4/15/21 | $850000 | 1.00% | $8500 | $- |
| 71 | 5/15/21 | $850000 | 1.00% | $8500 | $- |
| 72 | 6/15/21 | $850000 |  | $3421603 | $- |

---

**EXHIBIT A<br> FORM OF WARRANT**

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**ACT**"), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE, TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS WARRANT MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY.

**WARRANT TO PURCHASE SHARES OF STOCK**

---

| | |
|:---|:---|
| **Effective Date:** | ________________________________ |
| **Company:** | T1Visions, Inc., a Delaware corporation |
| **Holder:** | **[**Decathlon Alpha II, L.P. / Decathlon Alpha III, L.P.], a Delaware limited partnership |
| **Exercise Period:** | **Commencing on the Effective Date and ending on the tenth anniversary thereof.** |

---

This certifies that, for value received, Holder, or its registered assigns, is entitled, subject to the provisions and upon the terms and conditions set forth herein, to purchase from the Company, Shares (as defined below), in the amounts, at such times and at the price per share set forth in this Warrant. This Warrant is issued in connection with the transactions described in the Fourth Amendment dated August , 2020 to the Revenue Loan and Security Agreement dated July 1, 2015 by and among the Company and Holder (as amended, the **"Loan Agreement"**). Capitalized words and phrases used but not defined in this Warrant have the meanings given in the Loan Agreement.

The following is a statement of the rights of the Holder and the conditions to which this Warrant is subject, and to which Holder, by acceptance of this Warrant, agrees:

1. Definitions.

**"Applicable Jurisdiction"** means Delaware.

**"Buyout Percentage"** means [ ]%, subject to any adjustments as set forth in Section 2.

**"Change of Control"** means either (a) a merger or consolidation of Company with or into another entity, or other transaction, following which the stockholders of Company immediately prior to such transaction hold securities representing less than a majority of the voting power of the surviving entity or parent of the surviving entity immediately following such transaction, or (b) the sale, lease, license or other disposition of all or substantially all of Company's assets.

**"Common Stock Equivalents"** means shares of the Company's common stock, securities convertible or exercisable into common stock, or options or rights to purchase common stock or securities convertible or exercisable into common stock.

**"Exercise Price"** means $0.10 per Share, subject to adjustment pursuant this Warrant.

**"Gross Proceeds"** means the aggregate consideration directly or indirectly paid or payable to the Company and all shareholders, as well as holders of options, warrants, convertible securities, phantom equity and similar rights (collectively, "**Equity Owners**") in connection with or as a result of the Change of Control determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** In the case of a Change of Control involving the acquisition of equity securities, the Gross Proceeds shall include the total consideration paid or payable to Equity Owners (or the Company in the case of a new issuance), plus the total amount of consideration paid or payable on any outstanding indebtedness for borrowed money (including capitalized leases) of the Company in connection with the Change of Control (without duplication).

&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 the case of a Change of Control involving the acquisition of assets, the Gross Proceeds shall include the total consideration paid or payable for the assets acquired plus the amount of all assumed indebtedness for borrowed money (including capitalized leases) in connection with the Change of Control (without duplication).

&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 any Change of Control, the Gross Proceeds will include consideration paid or payable to the Company and its Equity Owners under covenants not to compete excluding reasonable amounts payable to employees pursuant to employment agreements and similar agreements; provided, however, that (i) such consideration is paid or payable directly to the Company or among all Equity Owners on a pro-rata basis and (ii) the Holder becomes a party to any agreement containing such covenants to the same extent as the Equity Owners.

&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)** In any Change of Control, the Gross Proceeds will include the aggregate amount of (i) any dividends or distributions declared within 360 days of or in connection with the Change of Control (other than normal recurring cash dividends in amounts or for purposes consistent with past practice), and (ii) payments by the Company to repurchase any outstanding equity securities in connection with the Change of Control.

&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)** In any Change of Control, the Gross Proceeds will include amounts payable pursuant to any earnout, royalty or similar arrangement. To the extent payment of any consideration is contingent, the fair market value of the contingent portion of the consideration shall be determined in good faith by Holder and the Company, taking into account the likelihood of payment, and include it in the Gross Proceeds.

&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 Gross Proceeds will be deemed to include all forms of consideration, including without limitation, cash and cash equivalents, promissory notes and other evidence of indebtedness, securities and other property. Consideration other than cash and cash equivalents will be valued as follows: (A) promissory notes and other evidence of indebtedness will be valued at face value; (B) common stock and securities convertible into common stock will be valued at fair market value (as determined in good faith by agreement of the Company and Holder); (C) preferred stock will be valued at fair market value (as determined in good faith by agreement of the Company and Holder); and (D) securities and property not referenced above will be valued at fair market value (as determined in good faith by agreement of the Company and Holder).

&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)** If within 360 days of a Change of Control that does not result in the sale of all of the Company's assets or acquisition by one or more third parties of all of the Company's equity securities, the Company or its Equity Owners receive additional proceeds in connection with either (A) the sale of a substantial portion of the Company's assets as of the date the Change of Control occurred or (B) a third party's acquisition of all of the Company's equity securities, then such proceeds will be considered Gross Proceeds.

&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 Gross Proceeds will exclude costs or expenses paid to third-party advisors in connection with a Change of Control in an amount not exceed five percent (5%) of the aggregate consideration paid or payable to the Company and Equity Owners.

**"Shares"** means shares of the Company's common stock; provided, however, if in the event of a Change of Control, the Holder as a holder of the Company's common stock will not receive an amount equal to the sum of (x) the Buyout Percentage of the Gross Proceeds from a Change of Control plus (y) the Exercise Price, "Shares" shall mean shares of the series of the Company's preferred stock with the most senior liquidation preference which will result in the Holder after exercise of this Warrant receiving the sum of (x) the Buyout Percentage of the Gross Proceeds from a Change of Control, plus (y) the Exercise Price.

**"Warrant"** means this Warrant and any warrants delivered in substitution or exchange therefor as provided herein.

**2. Number of Shares.** Subject to any previous exercise of this Warrant, the Holder shall, upon exercise of this Warrant, have the right to receive a number of Shares that will result in the Holder receiving an amount equal to the Buyout Percentage of the Gross Proceeds from a Change of Control plus the Exercise Price. If the number of Common Stock Equivalents outstanding on the date of the exercise of this Warrant exceeds the number of Common Stock Equivalents outstanding on the Effective Date (subject to stock splits, reclassifications, reorganizations, or otherwise), the Buyout Percentage shall be reduced in accordance with the following formula:

BPA=BPB x [CEB/CEA]

Where:

BP<sub>A </sub>= Buyout Percentage after adjustment under this Section 2.

BP<sub>B </sub>= Initial Buyout Percentage set forth in Section 1.

CE<sub>A </sub>= Common Stock Equivalents outstanding immediately prior to the Change of Control.

CE<sub>B </sub>= Common Stock Equivalents outstanding as of the date hereof.

The following Common Stock Equivalents shall not be considered for the purpose calculating the CEA: (i) Common Stock Equivalents issued, directly or indirectly, for the purpose of diluting the Buyout Percentage; and (ii) exercisable securities of which the exercise price per share exceeds the per share consideration to be received if such securities were exercised immediately prior to the Change of Control.

3. Exercise of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1 Exercise.** The purchase rights represented by this Warrant may be exercised at the election of the Holder in whole or in part by:

&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 tender to the Company at its principal office (or such other office or agency as the Company may designate) of a notice of exercise in the form of <u>Exhibit A</u> (the "Notice of Exercise"), duly completed and executed by or on behalf of the Holder, together with the surrender of this Warrant; 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;(ii) the payment to the Company of an amount equal to (x) the Exercise Price multiplied by (y) the number of Shares being purchased, by wire transfer or certified, cashier's or other check acceptable to the Company and payable to the order of the Company, surrender and cancellation of promissory notes or other instruments representing indebtedness of the Company to the Holder, or a combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2 Net Issue Exercise.** In lieu of exercising this Warrant pursuant to Section 3.1, if the aggregate amount that the Shares of Holder will receive from the Gross Proceeds is greater than the aggregate Exercise Price (at the date of calculation as set forth below) the Holder may elect to receive a number of Shares equal to the value of this Warrant (or of any portion of this Warrant being canceled) by surrender of this Warrant at the principal office of the Company (or such other office or agency as the Company may designate) together with a properly completed and executed Notice of Exercise reflecting such election, in which event the Company shall issue to the Holder that number of Shares computed using the following formula:

X = <u>Y (A – B)</u> <br> A

Where:

X = The number of Shares to be issued to the Holder

Y = The number of Shares purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being canceled (at the date of such calculation)

---

| | | |
|:---|:---|:---|
| A | = | The amount of Gross Proceeds received by one Share (at the date of such calculation) |

---

B = The Exercise Price (as adjusted to the date of such calculation)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3 Stock Certificates.** The rights under this Warrant shall be deemed to have been exercised and the Shares issuable upon such exercise shall be deemed to have been issued immediately prior to the close of business on the date this Warrant is exercised in accordance with its terms, and the person entitled to receive the Shares issuable upon such exercise shall be treated for all purposes as the holder of record of such Shares as of the close of business on such date. As promptly as reasonably practicable on or after such date, the Company shall issue and deliver to the person or persons entitled to receive the same a certificate or certificates for that number of shares issuable upon such exercise. In the event that the rights under this Warrant are exercised in part and have not expired, the Company shall execute and deliver a new Warrant reflecting the number of Shares that remain subject to this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4 No Fractional Shares or Scrip.** No fractional shares or scrip representing fractional shares shall be issued upon the exercise of the rights under this Warrant. In lieu of such fractional share to which the Holder would otherwise be entitled, the Company shall make a cash payment equal to the Exercise Price multiplied by such fraction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5 Automatic Exercise or Purchase.** If the Holder of this Warrant has not elected to exercise this Warrant prior to the expiration of this Warrant pursuant to Section 8(i), then the Company shall, immediately prior to the closing of the Change of Control, pay to the Holder (without any act on the part of the Holder) the amount of securities and/or property (including cash) which the Holder would have been entitled to receive pursuant to such Change of Control if this Warrant had been exercised immediately prior to the effective date of such Change of Control; upon Holder's receipt of such payment this Warrant shall be automatically terminated in its entirety without any act on the part of the Holder, except to the extent that Holder may be entitled to additional payments pursuant to subpart (vii) of the definition of Gross Proceeds. If the Holder of this Warrant has not elected to exercise this Warrant prior to expiration of this Warrant pursuant to Section 8(ii), 8(iii) or 8(iv), then this Warrant shall automatically (without any act on the part of the Holder) be exercised pursuant to Section 3.2 effective immediately prior to the expiration of the Warrant to the extent such net issue exercise would result in the issuance of Shares, unless Holder earlier provides written notice to the Company that the Holder desires that this Warrant expire unexercised. If this Warrant is automatically exercised, the Company shall notify the Holder of the automatic exercise as soon as reasonably practicable, and the Holder shall surrender the Warrant to the Company in accordance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6 Reservation of Stock.** During the Exercise Period, the Company shall take all reasonable action to reserve and keep available from its authorized and unissued shares of common stock and preferred stock, if applicable, for the purpose of effecting the exercise of this Warrant such number of shares (and shares of common stock for issuance on conversion of such shares) as shall from time to time be sufficient to effect the exercise of the rights under this Warrant; and if at any time the number of authorized but unissued shares of common stock and preferred stock, if applicable, shall not be sufficient for purposes of the exercise of this Warrant in accordance with its terms and the conversion of the Shares, without limitation of such other remedies as may be available to the Holder, the Company will use all reasonable efforts to take such corporate action as may, in the opinion of counsel, be necessary to increase its authorized and unissued shares of its common stock and preferred stock, if applicable, (and shares of common stock for issuance on conversion of such shares) to a number of shares as shall be sufficient for such purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7 Replacement of the Warrant.** Subject to the receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor and amount.

4. Transfer of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1 Warrant Register.** The Company shall maintain a register (the "Warrant Register") containing the name and address of the Holder or Holders. Until this Warrant is transferred on the Warrant Register in accordance herewith, the Company may treat the Holder as shown on the Warrant Register as the absolute owner of this Warrant for all purposes, notwithstanding any notice to the contrary. Any Holder of this Warrant (or of any portion of this Warrant) may change its address as shown on the Warrant Register by written notice to the Company requesting a change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2 Warrant Agent.** The Company may appoint an agent for the purpose of maintaining the Warrant Register referred to in Section 4.1, issuing the Shares or other securities then issuable upon the exercise of the rights under this Warrant, exchanging this Warrant, replacing this Warrant or conducting related activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Transferability of the Warrant.** Subject to the provisions of this Warrant with respect to compliance with the Securities Act of 1933, as amended (the "Securities Act") and limitations on assignments and transfers, including without limitation compliance with the restrictions on transfer set forth in Section 5, title to this Warrant may be transferred by endorsement (by the transferor and the transferee executing the assignment form attached as <u>Exhibit B</u> (the "Assignment Form")) and delivery in the same manner as a negotiable instrument transferable by endorsement and delivery. Notwithstanding anything herein to the contrary, in no event shall any Holder transfer this Warrant to any person which the Company's board of directors reasonably determines in good faith to be a competitor of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4 Exchange of the Warrant upon a Transfer.** On surrender of this Warrant (and a properly endorsed Assignment Form) for exchange, subject to the provisions of this Warrant with respect to compliance with the Securities Act and limitations on assignments and transfers, the Company shall issue to or on the order of the Holder a new warrant or warrants of like tenor, in the name of the Holder or as the Holder (on payment by the Holder of any applicable transfer taxes) may direct, for the number of shares issuable upon exercise hereof, and the Company shall register any such transfer upon the Warrant Register. This Warrant (and the securities issuable upon exercise of the rights under this Warrant) must be surrendered to the Company or its warrant or transfer agent, as applicable, as a condition precedent to the sale, pledge, hypothecation or other transfer of any interest in any of the securities represented hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5 No Minimum Transfer.** Subject to Section 5, this<u>This</u> Warrant may <u>not</u> be transferred or assigned in whole or in part by<u>unless such transfer is to a transferee who, pursuant to such transfer, receives</u> the Holder<u>right to purchase all of the Shares purchasable pursuant to this Warrant</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6 Taxes.** In no event shall the Company be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of any certificate in a name other than that of the Holder, and the Company shall not be required to issue or deliver any such certificate unless and until the person or persons requesting the issue thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid or is not payable.

 **5. Restrictions on Transfer of the Warrant and Shares; Compliance with Securities Laws.** By acceptance of this Warrant, the Holder agrees to comply with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1 Restrictions on Transfers.** The Holder may not transfer or assign this Warrant in whole or in part without providing the Company with 10 days prior written notice, and any attempt by Holder to transfer or assign any rights, duties or obligations that arise under this Warrant without such notice shall be void. Any transfer of this Warrant or the Shares or the shares of common stock issuable upon conversion of the Shares (the "**Securities**") must be in compliance with all applicable federal and state securities laws. The Holder agrees not to make any sale, assignment, transfer, pledge or other disposition of all or any portion of the Securities, or any beneficial interest therein, unless and until (a) the transferee thereof has agreed in writing for the benefit of the Company to take and hold such Securities subject to, and to be bound by, the terms and conditions set forth in this Warrant to the same extent as if the transferee were the original Holder hereunder, and (b) (1) there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement, or (2) (A) such Holder shall have given prior written notice to the Company of such Holder's intention to make such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition, (B) the transferee shall have confirmed to the satisfaction of the Company in writing that the Securities are being acquired (i) solely for the transferee's own account and not as a nominee for any other party, (ii) for investment and (iii) not with a view toward distribution or resale, and shall have confirmed such other matters related thereto as may be reasonably requested by the Company, and (C) if requested by the Company, such Holder shall have furnished the Company, at the Holder's expense, with an opinion of counsel, reasonably satisfactory to the Company, to the effect that such disposition will not require registration of such Securities under the Securities Act whereupon such Holder shall be entitled to transfer such Securities in accordance with the terms of the notice delivered by the Holder to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2 Investment Representation Statement.** Unless the rights under this Warrant are exercised pursuant to an effective registration statement under the Securities Act that includes the Shares with respect to which the Warrant was exercised, it shall be a condition to any exercise of the rights under this Warrant that the Holder shall have confirmed to the satisfaction of the Company in writing that the Shares so purchased are being acquired solely for the Holder's own account and not as a nominee for any other party, for investment and not with a view toward distribution or resale and that the Holder shall have confirmed such other matters related thereto as may be reasonably requested by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3 Securities Law Legend.** The Securities shall (unless otherwise permitted by the provisions of this Warrant) be stamped or imprinted with a legend substantially similar to the following (in addition to any legend required by state securities laws):

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**ACT**"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS CERTIFICATE MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4 Instructions Regarding Transfer Restrictions.** The Holder consents to the Company making a notation on its records and giving instructions to any transfer agent in order to implement the restrictions on transfer established in this Section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5 Removal of Legend.** The legend referring to federal and state securities laws identified in Section 5.3 stamped on a certificate evidencing the Shares (and the common stock issuable upon conversion thereof) and the stock transfer instructions and record notations with respect to such securities shall be removed and the Company shall issue a certificate without such legend to the holder of such securities if (i) such securities are registered under the Securities Act, or (ii) such holder provides the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a sale or transfer of such securities may be made without registration or qualification.

**6. Adjustments.** Subject to the expiration of this Warrant pursuant to Section 8, the number and kind of shares purchasable hereunder and the Exercise Price therefor are subject to adjustment from time to time, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 Merger or Reorganization.** If at any time there shall be any reorganization, recapitalization, merger or consolidation (a "**Reorganization**") involving the Company (other than as otherwise provided for herein or as would cause the expiration of this Warrant under Section 8) in which shares of the Company's stock are converted into or exchanged for securities, cash or other property, then, as a part of such Reorganization, lawful provision shall be made so that the Holder shall thereafter be entitled to receive upon exercise of this Warrant, the kind and amount of securities, cash or other property of the successor corporation resulting from such Reorganization, equivalent in value to that which a holder of the Shares deliverable upon exercise of this Warrant would have been entitled in such Reorganization if the right to purchase the Shares hereunder had been exercised immediately prior to such Reorganization. In any such case, appropriate adjustment (as determined in good faith by the board of directors of the successor corporation) shall be made in the application of the provisions of this Warrant with respect to the rights and interests of the Holder after such Reorganization to the end that the provisions of this Warrant shall be applicable after the event, as near as reasonably may be, in relation to any shares or other securities deliverable after that event upon the exercise of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 Notice of Adjustments.** Upon any adjustment in accordance with this Section 6, the Company shall give notice thereof to the Holder, which notice shall state the event giving rise to the adjustment, the Exercise Price as adjusted and the number of securities or other property purchasable upon the exercise of the rights under this Warrant, setting forth in reasonable detail the method of calculation of each. The Company shall, upon the written request of any Holder, furnish or cause to be furnished to such Holder a certificate setting forth (i) such adjustments, (ii) the Exercise Price at the time in effect and (iii) the number of securities and the amount, if any, of other property that at the time would be received upon exercise of this Warrant.

**7. Notification of Certain Events.** Prior to the expiration of this Warrant pursuant to Section 8, in the event that the Company shall authorize any transaction resulting in the expiration of this Warrant pursuant to Section 8, the Company shall send to the Holder of this Warrant at least ten (10) days prior written notice of the expected effective date of any such event. The notice provisions set forth in this section may be shortened or waived prospectively or retrospectively by the consent of the Holder of this Warrant.

**8. Expiration of the Warrant.** This Warrant shall expire and shall no longer be exercisable as of the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(i)** The Closing of a Change of Control of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(ii)** The voluntary liquidation, dissolution or winding up of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** Immediately prior to the closing of a firm commitment underwritten initial public offering pursuant to an effective registration statement filed under the Securities Act covering the offering and sale of the Company's common stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(iv)** Expiration of the Exercise Period.

**9. No Rights as a Stockholder.** Nothing contained herein shall entitle the Holder to any rights as a stockholder of the Company or to be deemed the holder of any securities that may at any time be issuable on the exercise of the rights hereunder for any purpose nor shall anything contained herein be construed to confer upon the Holder, as such, any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value or change of stock to no par value, consolidation, merger, conveyance or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or any other rights of a stockholder of the Company until the rights under the Warrant shall have been exercised and the Shares purchasable upon exercise of the rights hereunder shall have become deliverable as provided herein.

**10. Representations and Warranties of the Holder.** By acceptance of this Warrant, the Holder represents and warrants to the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1 No Registration.** The Holder understands that the Securities have not been, and will not be, registered under the Securities Act by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Holder's representations as expressed herein or otherwise made pursuant hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2 Investment Intent.** The Holder is acquiring the Securities for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, any distribution thereof. The Holder has no present intention of selling, granting any participation in, or otherwise distributing the Securities, nor does it have any contract, undertaking, agreement or arrangement for the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3 Investment Experience.** The Holder has substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company, and has such knowledge and experience in financial or business matters so that it is capable of evaluating the merits and risks of its investment in the Company and protecting its own interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4 Speculative Nature of Investment.** The Holder understands and acknowledges that the Company has a limited financial and operating history and that its purchase of this Warrant is highly speculative and involves substantial risks. The Holder can bear the economic risk of its investment and is able, without impairing its financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of its investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5 Access to Data.** The Holder has had an opportunity to ask questions of officers of the Company, which questions were answered to its satisfaction. The Holder believes that it has received all the information that it considers necessary or appropriate for deciding whether to acquire the Securities. The Holder understands that any such discussions, as well as any information issued by the Company, were intended to describe certain aspects of the Company's business and prospects, but were not necessarily a thorough or exhaustive description. The Holder acknowledges that any business plans prepared by the Company have been, and continue to be, subject to change and that any projections included in such business plans or otherwise are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6 Accredited Investor.** The Holder is an "accredited investor" within the meaning of Regulation D, Rule 501(a), promulgated by the Securities and Exchange Commission and agrees to submit to the Company such further assurances of such status as may be reasonably requested by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7 Residency.** The residency of the Holder (or, in the case of a partnership or corporation, such entity's principal place of business) is correctly set forth on the signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8 Restrictions on Resales.** The Holder acknowledges that the Securities must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available. The Holder is aware of the provisions of Rule 144 promulgated under the Securities Act, which permit resale of shares purchased in a private placement subject to the satisfaction of certain conditions, which may include, among other things, the availability of certain current public information about the Company; the resale occurring not less than a specified period after a party has purchased and paid for the security to be sold; the number of shares being sold during any three-month period not exceeding specified limitations; the sale being effected through a "broker's transaction," a transaction directly with a "market maker" or a "riskless principal transaction" (as those terms are defined in the Securities Act or the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder); and the filing of a Form 144 notice, if applicable. The Holder acknowledges and understands that the Company may not be satisfying the current public information requirement of Rule 144 at the time the Holder wishes to sell the Securities and that, in such event, the Holder may be precluded from selling the Securities under Rule 144 even if the other applicable requirements of Rule 144 have been satisfied. The Holder acknowledges that, in the event the applicable requirements of Rule 144 are not met, registration under the Securities Act or an exemption from registration will be required for any disposition of the Securities. The Holder understands that, although Rule 144 is not exclusive, the Securities and Exchange Commission has expressed its opinion that persons proposing to sell restricted securities received in a private offering other than in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales and that such persons and the brokers who participate in the transactions do so at their own risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9 No Public Market.** The Holder understands and acknowledges that no public market now exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company's securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.10 Brokers and Finders.** The Holder has not engaged any brokers, finders or agents in connection with the Securities, and the Company has not incurred nor will incur, directly or indirectly, as a result of any action taken by the Holder, any liability for brokerage or finders' fees or agents' commissions or any similar charges in connection with the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.11 Legal Counsel.** The Holder and the Company have both had the opportunity to review this Warrant, the exhibits and schedules attached hereto and the transactions contemplated by this Warrant with their respective legal counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.12 Tax Advisors.** The Holder and the Company have both independently reviewed with their respective tax advisors the U.S. federal, state and local and non-U.S. tax consequences of this investment and the transactions contemplated by this Warrant. With respect to such matters, each relies solely on any such advisors and not on any statements or representations of the Company or any of its agents, written or oral.

11. Miscellaneous.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1 Amendments.** Except as expressly provided herein, neither this Warrant nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument referencing this Warrant and signed by the Company and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2 Waivers.** No waiver of any single breach or default shall be deemed a waiver of any other breach or default theretofore or thereafter occurring.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3 Notices.** All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile or electronic mail (if to the Holder) or otherwise delivered by hand, messenger or courier service addressed:

&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 to the Holder, to the Holder at the Holder's address or facsimile number as shown in the Company's records, as may be updated in accordance with the provisions hereof, or until any such Holder so furnishes an address, facsimile number, then to and at the address, facsimile number of the last holder of this Warrant for which the Company has contact information in its records; with a copy to Kevin Spreng, Fredrikson & Byron, P.A. 200 South Sixth Street, Minneapolis, MN 55402; 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;(ii) if to the Company, to the attention of the Chief Executive Officer of the Company at the Company's address as shown on the signature page hereto, or at such other address as the Company shall have furnished to the Holder.

All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day; (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. In the event of any conflict between the Company's books and records and this Warrant or any notice delivered hereunder, the Company's books and records will control absent fraud or error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4 Governing Law.** This Warrant and all actions arising out of or in connection with this Warrant shall be governed by and construed in accordance with the laws of the Applicable Jurisdiction, without regard to the conflicts of law provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.5 Jurisdiction and Venue.** If Holder initiates a claim in connection with any matter based upon or arising out of this Warrant or the matters contemplated herein, each of Holder and Company irrevocably consents to the exclusive jurisdiction and venue of any federal court within Charlotte, North Carolina, and agrees that process may be served upon them in any manner authorized by the laws of North Carolina for such persons. If the Company initiates a claim in connection with any matter based upon or arising out of this Warrant or the matters contemplated herein or therein, each of Holder and Company irrevocably consents to the exclusive jurisdiction and venue of any federal court within Palo Alto, California, and agrees that process may be served upon them in any manner authorized by the laws of California for such persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.6 Titles and Subtitles.** The titles and subtitles used in this Warrant are used for convenience only and are not to be considered in construing or interpreting this Warrant. All references in this Warrant to sections, paragraphs and exhibits shall, unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.7 Severability.** If any provision of this Warrant becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Warrant, and such illegal, unenforceable or void provision shall be replaced with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, unenforceable or void provision. The balance of this Warrant shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.8 Waiver of Jury Trial.** EACH OF THE HOLDER AND THE COMPANY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS WARRANT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.9 Rights and Obligations Survive Exercise of the Warrant.** Except as otherwise provided herein, the rights and obligations of the Company and the Holder under this Warrant shall survive exercise of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.10 Entire Agreement.** Except as expressly set forth herein, this Warrant (including the exhibits attached hereto) constitutes the entire agreement and understanding of the Company and the Holder with respect to the subject matter hereof and supersede all prior agreements and understandings relating to the subject matter hereof.

**The signature page follows.**

The Company and the Holder sign this Warrant as of the Effective Date.

---

| |
|:---|
| **T1VISIONS, INC.** |
| By: |
| Name: |
| Title: |
| Address: |
| 10430 Harris Oaks Boulevard, Suite F |
| Charlotte, North Carolina 28269 |
| Email address: ______________________________ |

---

---

| | |
|:---|:---|
| **AGREED AND ACKNOWLEDGED,** | **AGREED AND ACKNOWLEDGED,** |
| **[DECATHLON ALPHA II, L.P. / DECATHLON ALPHA III, L.P.]** | **[DECATHLON ALPHA II, L.P. / DECATHLON ALPHA III, L.P.]** |
| By: | [Decathlon Alpha GP II, LLC / Decathlon Alpha GP II, LLC] |
| Its: | General Partner |
| By: |  |
| Name: |  |
| Title: |  |

---

Address:

1441 West Ute Boulevard, Suite 240

Park City, Utah 84098

Email address:  

**EXHIBIT A <br> NOTICE OF EXERCISE**

---

| | |
|:---|:---|
| **TO:** | **T1VISIONS, INC. (the "Company")** |

---

---

| | |
|:---|:---|
| **Attention:** | **Chief Executive Officer** |

---

**1.** **Exercise.** The undersigned elects to purchase the following
pursuant to the terms of the attached warrant:

Number of shares:   <br> Type of security:  

**2.** **Method of Exercise.** The undersigned elects to exercise the attached warrant pursuant to:

☐ A cash payment or cancellation of indebtedness, and tenders herewith payment of the purchase price for such shares in full, together with all applicable transfer taxes, if any.

☐ The net issue exercise provisions of Section 3.2 of the attached warrant.

**3.** **Stock Certificate.** Please issue a certificate or certificates representing the shares in the name of:

☐ The undersigned

☐ Other—Name:   <br> Address:   <br>  

**4.** **Unexercised Portion of the Warrant.** Please issue a
new warrant for the unexercised portion of the attached warrant in the name of: ☐ The undersigned

☐ Other—Name:   <br> Address:   <br>  

☐ Not applicable

**5.** **Investment Intent.** The undersigned represents and
warrants that the aforesaid shares are being acquired for investment for its own account, not as a nominee or agent, and not with a view
to, or for resale in connection with, the distribution thereof, and that the undersigned has no present intention of selling, granting
any participation in, or otherwise distributing the shares, nor does it have any contract, undertaking, agreement or arrangement for
the same, and all representations and warranties of the undersigned set forth in Section 11 of the attached warrant are true and correct
as of the date hereof.

---

| |
|:---|
| (Print name of the warrant holder) |
| (Signature) |
| (Name and title of signatory, if applicable) |
| (Date) |
| (Email address) |

---

**EXHIBIT B <br> ASSIGNMENT FORM**

---

| | |
|:---|:---|
| ASSIGNOR: | |
| COMPANY: | T1VISIONS, INC. (THE "**COMPANY**") |
| WARRANT: | THE WARRANT TO PURCHASE SHARES OF STOCK HELD BY ASSIGNOR (THE "**WARRANT**") |

---

DATE:

**1. Assignment.** The undersigned registered holder of the Warrant ("**Assignor**") assigns and transfers to the assignee named below ("**Assignee**") all of the rights of Assignor under the Warrant:

Name of Assignee:   <br> Address of Assignee:   <br>  

and does irrevocably constitute and appoint<u> </u>as attorney to make such transfer on the books of the Company, maintained for the purpose, with full power of substitution in the premises.

**2. Obligations of Assignee.** Assignee agrees to take and hold the Warrant and any shares of stock to be issued upon exercise of the rights thereunder (and any shares issuable upon conversion thereof) (the "**Securities**") subject to, and to be bound by, the terms and conditions set forth in the Warrant to the same extent as if Assignee were the original holder thereof.

 **3. Investment Intent.** Assignee represents and warrants that the Securities are being acquired for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and that Assignee has no present intention of selling, granting any participation in, or otherwise distributing the shares, nor does it have any contract, undertaking, agreement or arrangement for the same, and all representations and warranties set forth in Section 11 of the Warrant are true and correct as to Assignee as of the date hereof.

Assignor and Assignee are signing this Assignment Form on the date first set forth above.

---

| | |
|:---|:---|
| **ASSIGNOR** | **ASSIGNEE** |
| (Print name of Assignor) | (Print name of Assignee) |
| (Signature of Assignor) | (Signature of Assignee) |
| (Print name of signatory, if applicable) | (Print name of signatory, if applicable) |
| (Print title of signatory, if applicable) | (Print title of signatory, if applicable) |
| (Address) | (Address) |

---

**FIFTH AMENDMENT TO REVENUE LOAN AND SECURITY AGREEMENT**

This fifth amendment (this **"Amendment"**) to that certain Revenue Loan and Security Agreement dated July I, 2015, as amended by First Amendment dated November 10, 2015, Second Amendment dated March 10, 2016, Third Amendment dated September, 12, 2017, and Fourth Amendment dated September 16, 2020 (collectively, the **"Agreement"**), by and between TlV, Inc., a Delaware corporation (the **"Company"**), Decathlon Alpha II, L.P., a Delaware limited partnership (**"Decathlon II"**), and Decathlon Alpha III, L.P., a Delaware limited partnership (**"Decathlon III,"** and together with Decathlon, **"Lender"**) is effective April 26, 2021 (the **"Fifth Amendment Date"**). Unless otherwise defined herein, all capitalized terms have the meanings given to them in the Agreement.

The Company and Lender desire to amend certain terms of the Agreement as set forth below. The Company and Lender hereby agree as follows:

1. **Amendments.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Definitions.</u> The following definitions set forth in <u>Article 11</u> of the Agreement are hereby amended and restated in their entirety to read as follows:

**"Maturity Date"** means the earlier of: (i) October 15, 2021, (ii) immediately prior to a Change of Control, or (iii) acceleration of the Obligations as provided in Article 8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Schedule 2.3.2(b).</u> An amended and restated <u>Schedule 2.3.2(b)</u> to the Agreement is attached
hereto as <u>Schedule 2.3.2(b).</u> 

2. **Catch-Up Payments.** Commencing on June 15, 2021 and continuing thereafter
until maturity or earlier prepayment in full of the Advances, Company shall pay to Lender on the 15th day of each month (or the next business
day if such date is not a business day (each a **"Payment Date"**), by wire transfer or Automated Clearing House (ACH)
transfer to the Lender Account described on <u>Schedule 2.3.2/a)</u> of the Agreement, a fixed amount equal to $40,000 (the **"Catch-Up Payments"**).The Catch-Up Payments are required to be paid to Lender in addition to (and not in lieu of) the monthly payments
required by <u>Section 2.3.2</u> of the Agreement. Catch-Up Payments made by ACH transfer must be initiated no later than three (3) business
days prior to the applicable Payment Date. The Catch-Up Payments will be for application against the Outstanding Advance Balance, together
with Interest (with all payments being applied first to expenses incurred by the Lender, then to accrued interest, and finally to principal).

3. **Transaction Costs.** Pursuant to <u>Section 12.7(ii)</u> of the Agreement,
the Company shall promptly reimburse Lender for all fees and expenses relating to this Amendment.

4. **No Other Changes.** In all other respects, the Agreement shall remain in fulL force and effect.

*[Signatures on following page}*

The parties have executed this Amendment as of the Fifth Amendment Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |
| DECATHLON ALPHA III, L.P. | DECATHLON ALPHA III, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |

---

*Signature page to Fifth Amendment to Revenue Loan and Security Agreement*

**SCHEDULE 2.3.2(b)**

**PRO-FORMA PAYMENT SCHEDULE**

*See attached*

**T1 Visions, Inc.**

---

| | | |
|:---|:---|:---|
| **Summary** | |  |
| Total Principal | $1250000 |  |
| Total Interest | $2843452 |  |
| Total Payments | $4093452 |  |
| IRR | 23.75 | % |
| Projected cash-on-cash mu | 3.27 | x |
| Projected term in months | 76 |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Mth** | **Date** | **Revenue** | **Pmt %** | **Payment** | **Loan Advancement** |
| 0 | 7/1/15 | $695583 |  |  | $500000 |
| 1 | 7/15/15 | $695583 | 0.50% | $3329 | $- |
| 2 | 8/15/15 | $695583 | 0.50% | $1111 | $- |
| 3 | 9/15/15 | $695583 | 0.50% | $1408 | $- |
| 4 | 10/15/15 | $695583 | 0.50% | $1994 | $250000 |
| 5 | 11/15/15 | $695583 | 0.50% | $1557 | $- |
| 6 | 12/15/15 | $695583 | 0.50% | $1739 | $100000 |
| 7 | 1/15/16 | $1666667 | 0.50% | $5405 | $100000 |
| 8 | 2/15/16 | $1666667 | 0.50% | $3118 | $- |
| 9 | 3/15/16 | $1666667 | 0.50% | $2488 | $100000 |
| 10 | 4/15/16 | $1666667 | 0.50% | $2653 | $- |
| 11 | 5/15/16 | $1666667 | 0.50% | $1664 | $100000 |
| 12 | 6/15/16 | $1666667 | 0.50% | $1690 | $100000 |
| 13 | 7/15/16 | $1666667 | 0.50% | $1793 | $- |
| 14 | 8/15/16 | $1666667 | 0.50% | $2220 | $- |
| 15 | 9/15/16 | $1666667 | 0.50% | $2166 | $- |
| 16 | 10/15/16 | $1666667 | 0.50% | $4442 | $- |
| 17 | 11/15/16 | $1666667 | 0.50% | $2966 | $- |
| 18 | 12/15/16 | $1666667 | 0.50% | $2333 | $- |
| 19 | 1/15/17 | $3715800 | 0.50% | $2595 | $- |
| 20 | 2/15/17 | $3715800 | 0.50% | $1507 | $- |
| 21 | 3/15/17 | $3715800 | 0.50% | $1517 | $- |
| 22 | 4/15/17 | $3715800 | 0.50% | $2248 | $- |
| 23 | 5/15/17 | $3715800 | 1.00% | $2816 | $- |
| 24 | 6/15/17 | $3715800 | 1.00% | $3128 | $- |
| 25 | 7/15/17 | $3715800 | 1.00% | $7562 | $- |
| 26 | 8/15/17 | $3715800 | 1.00% | $4553 | $- |
| 27 | 9/15/17 | $3715800 | 1.00% | $5586 | $- |
| 28 | 10/15/17 | $3715800 | 1.00% | $4376 | $- |
| 29 | 11/15/17 | $3715800 | 1.00% | $6483 | $- |
| 30 | 12/15/17 | $3715800 | 1.00% | $8529 | $- |
| 31 | 1/15/18 | $7490400 | 1.00% | $6030 | $- |
| 32 | 2/15/18 | $7490400 | 1.00% | $4805 | $- |
| 33 | 3/15/18 | $7490400 | 1.00% | $6772 | $- |
| 34 | 4/15/18 | $7490400 | 1.00% | $7690 | $- |
| 35 | 5/15/18 | $7490400 | 1.00% | $4529 | $- |
| 36 | 6/15/18 | $7490400 | 1.00% | $3083 | $- |
| 37 | 7/15/18 | $7490400 | 1.00% | $11003 | $- |
| 38 | 8/15/18 | $7490400 | 1.00% | $4643 | $- |
| 39 | 9/15/18 | $7490400 | 1.00% | $6198 | $- |
| 40 | 10/15/18 | $7490400 | 1.00% | $9896 | $- |
| 41 | 11/15/18 | $7490400 | 1.00% | $5965 | $- |
| 42 | 12/15/18 | $7490400 | 1.00% | $9516 | $- |
| 43 | 1/15/19 | $8427375 | 1.00% | $8366 | $- |
| 44 | 2/15/19 | $8427375 | 1.00% | $6544 | $- |
| 45 | 3/15/19 | $8427375 | 1.00% | $8224 | $- |
| 46 | 4/15/19 | $8427375 | 1.00% | $15032 | $- |
| 47 | 5/15/19 | $8427375 | 1.00% | $9964 | $- |
| 48 | 6/15/19 | $8427375 | 1.00% | $6726 | $- |
| 49 | 7/15/19 | $8427375 | 1.00% | $9213 | $- |
| 50 | 8/15/19 | $8427375 | 1.00% | $6400 | $- |
| 51 | 9/15/19 | $8427375 | 1.00% | $8012 | $- |
| 52 | 10/15/19 | $8427375 | 1.00% | $13533 | $- |
| 53 | 11/15/19 | $8427375 | 1.00% | $6847 | $- |
| 54 | 12/15/19 | $8427375 | 1.00% | $7183 | $- |
| 55 | 1/15/20 | $9480000 | 1.00% | $13245 | $- |
| 56 | 2/15/20 | $9480000 | 1.00% | $10850 | $- |
| 57 | 3/15/20 | $9480000 | 1.00% | $8118 | $- |
| 58 | 4/15/20 | $9480000 | 1.00% | $8496 | $- |
| 59 | 5/15/20 | $9480000 | 1.00% | $5425 | $- |
| 60 | 6/15/20 | $850000 | 1.00% | $3858 | $- |
| 61 | 7/15/20 | $850000 | 1.00% | $8687 | $- |
| 62 | 8/15/20 | $850000 | 1.00% | $5788 | $- |
| 63 | 9/15/20 | $850000 | 1.00% | $6096 | $- |
| 64 | 10/15/20 | $850000 | 1.00% | $5656 | $- |
| 65 | 11/15/20 | $850000 | 1.00% | $6654 | $- |
| 66 | 12/15/20 | $850000 | 1.00% | $6998 | $- |
| 67 | 1/15/21 | $850000 | 1.00% | $7527 | $- |
| 68 | 2/15/21 | $850000 | 1.00% | $6105 | $- |
| 69 | 3/15/21 | $850000 | 1.00% | $6579 | $- |
| 70 | 4/15/21 | $850000 | 1.00% | $8500 | $- |
| 71 | 5/15/21 | $850000 | 1.00% | $8500 | $- |
| 72 | 6/15/21 | $850000 | 1.00% | $48500 | $- |
| 73 | 7/15/21 | $850000 | 1.00% | $48500 | $- |
| 74 | 8/15/21 | $850000 | 1.00% | $48500 | $- |
| 75 | 9/15/21 | $850000 | 1.00% | $48500 | $- |
| 76 | 10/15/21 | $850000 |  | $3491220 | $- |

---

*Execution Version*

 

**SIXTH AMENDMENT TO REVENUE LOAN AND SECURITY AGREEMENT**

This sixth amendment (this "**Amendment**") to that certain Revenue Loan and Security Agreement dated July 1, 2015, as amended by First Amendment dated November 10, 2015, Second Amendment dated March 10, 2016, Third Amendment dated September 12, 2017, Fourth Amendment dated September 16, 2020, and Fifth Amendment dated April 26, 2021 (collectively, the "**Agreement**"), by and between T1V, Inc., a Delaware corporation (the "**Company**"), Decathlon Alpha II, L.P., a Delaware limited partnership ("**Decathlon II**"), and Decathlon Alpha III, L.P., a Delaware limited partnership ("**Decathlon III**," and together with Decathlon, "**Lender**") is effective November 30, 2021 (the "**Sixth Amendment Date**"). Unless otherwise defined herein, all capitalized terms have the meanings given to them in the Agreement.

The Company and Lender desire to amend certain terms of the Agreement as set forth below to facilitate additional debt financing in the form of a $1.0 million facility from Liquid Capital Exchange, Inc. and up to four tranches of debt, each in the amount of $625,000 from Evergreen Capital Management LLC ("**Evergreen**"), the proceeds of which will be used to refinance the Company's indebtedness to Pacific Western Bank, to make certain paydowns as described below, and to support operations. The Company and Lender hereby agree as follows:

1. Amendments .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Definitions</u>. The following definitions set forth in <u>Article 11</u> of the Agreement are hereby amended and restated in their entirety to read as follows:

**"Maturity Date"** means the earlier of: (i) June 15, 2022, (ii) immediately prior to a Change of Control, or (iii) acceleration of the Obligations as provided in Article 8.

"**Senior Indebtedness**" means all secured Indebtedness of Company, now existing or hereafter arising, to Pacific Western Bank; and, only upon the payment in full of the Pacific Western Bank Indebtedness, (i) all secured Indebtedness of Company now existing or hereafter arising to Liquid Capital Exchange, Inc. ("**Liquid Capital**") or its affiliates up to the maximum amount of $1,000,000, and (ii) the second tranche of secured Indebtedness owed by the Company to Evergreen Capital Management LLC ("**Evergreen**") in the maximum amount of $625,000, between the Company and Evergreen in each case the rights and responsibilities of Lender, Liquid Capital. and Evergreen being governed by the terms of an applicable intercreditor agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Schedule 2.3.2(b)</u>. An amended and restated <u>Schedule 2.3.2(b)</u> to the Agreement is attached
hereto as <u>Schedule 2.3.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. <u>Section 5.19</u>. Section 5.19 shall be amended and restated in its entirety to read as follows:

**Senior Indebtedness Cap**. In no case shall the aggregate amount of all Senior Indebtedness exceed an amount equal to $1,625,000 (the "**Senior Indebtedness Cap**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Paydowns .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. Company shall pay to Lender by wire transfer or Automated Clearing House (ACH)
transfer to the Lender Account described on <u>Schedule 2.3.2(a)</u> of the Agreement the following amounts (the "**Paydowns** "):

&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. $1,000,000 (the "**First Paydown** "). The First Paydown shall be
made on the later of: (i) the date the Company's obligations to Pacific Western Bank are paid in full, and (ii) the date Lender
and Liquid Capital execute a subordination agreement providing for Lender to subordinate to Liquid Capital (x) any security interest or
lien that Lender may have in any assets of the Company, and (y) Lender's right of payment to all obligations of the Company to Lender.

&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. $312,500 (the "**Second Paydown** "). The Second Paydown shall be
made on the later of: (i) the date the Company's obligations to Pacific Western Bank are paid in full, and (ii) five business days
after the Company's receipt of the first tranche of financing from Evergreen in the amount of $625,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. $312,500 (the "**Third Paydown** "). The Third Paydown shall be made
upon Decathlon and Evergreen executing a subordination agreement providing for Decathlon to subordinate to a second tranche of financing
from Evergreen in the amount of $625,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. $312,500 (the "**Fourth Paydown** "). The Fourth Paydown shall be
made five business days after the Company's receipt of the third tranche of financing from Evergreen in the amount of $625,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. $312,500 (the "**Fifth Paydown** "). The Fourth Paydown shall be
made five business days after the Company's receipt of the fourth tranche of financing from Evergreen in the amount of $625,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. The Paydowns are required to be paid to Lender in addition to (and not in lieu
of) the monthly payments required by <u>Section 2.3.2</u> of the Agreement and the Catch-Up Payments required by the Fifth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. The Paydowns will be applied against the Outstanding Advance Balance, together
with Interest (with all payments being applied first to expenses incurred by the Lender, then to accrued interest, and finally to principal).

3. **Transaction Costs**. Pursuant to <u>Section 12.7(ii)</u> of the Agreement, the Company shall promptly
reimburse Lender for all fees and expenses relating to this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **No Other Changes**. In all other respects, the Agreement shall remain in full force and effect.

*[Signatures on following page]*

 

The parties have executed this Amendment as of the Sixth Amendment Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |
| DECATHLON ALPHA III, L.P. | DECATHLON ALPHA III, L.P. |
| By: | Decathlon Alpha GP III, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |

---

*Signature page to Sixth Amendment to Revenue Loan and Security Agreement*

**SCHEDULE 2.3.2(b)**

**PRO-FORMA PAYMENT SCHEDULE**

**T1 Visions, Inc.**

---

| | | |
|:---|:---|:---|
| **Summary** | |  |
| Total Principal | $1250000 |  |
| Total Interest | $3376440 |  |
| Total Payments | $4626440 |  |
| IRR | 23.75 | % |
| Projected cash-on-cash multiple | 3.70 | x |
| Projected term in months | 84 |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Mth** | **Date** | **Revenue** | **Pmt %** | **Payment** | **Loan<br> Advancement<br> Summary** |
| 0 | 7/1/2015 | $695583 |  |  | $500000 |
| 1 | 7/15/2015 | $695583 | 0.50% | $*3329* | $- |
| 2 | 8/15/2015 | $695583 | 0.50% | $*1111* | $- |
| 3 | 9/15/2015 | $695583 | 0.50% | $*1408* | $150000 |
| 4 | 10/15/2015 | $695583 | 0.50% | $*1994* | $100000 |
| 5 | 11/15/2015 | $695583 | 0.50% | $*1557* | $100000 |
| 6 | 12/15/2015 | $695583 | 0.50% | $*1739* | $- |
| 7 | 1/15/2016 | $1666667 | 0.50% | $*5405* | $100000 |
| 8 | 2/15/2016 | $1666667 | 0.50% | $*3118* | $- |
| 9 | 3/15/2016 | $1666667 | 0.50% | $*2488* | $100000 |
| 10 | 4/15/2016 | $1666667 | 0.50% | $*2653* | $100000 |
| 11 | 5/15/2016 | $1666667 | 0.50% | $*1664* | $100000 |
| 12 | 6/15/2016 | $1666667 | 0.50% | $*1690* | $- |
| 13 | 7/15/2016 | $1666667 | 0.50% | $*1793* | $- |
| 14 | 8/15/2016 | $1666667 | 0.50% | $*2220* | $- |
| 15 | 9/15/2016 | $1666667 | 0.50% | $*2166* | $- |
| 16 | 10/15/2016 | $1666667 | 0.50% | $*4442* | $- |
| 17 | 11/15/2016 | $1666667 | 0.50% | $*2966* | $- |
| 18 | 12/15/2016 | $1666667 | 0.50% | $*2333* | $- |
| 19 | 1/15/2017 | $3715800 | 0.50% | $*2595* | $- |
| 20 | 2/15/2017 | $3715800 | 0.50% | $*1507* | $- |
| 21 | 3/15/2017 | $3715800 | 0.50% | $*1517* | $- |
| 22 | 4/15/2017 | $3715800 | 0.50% | $*2248* | $- |
| 23 | 5/15/2017 | $3715800 | 1.00% | $*2816* | $- |
| 24 | 6/15/2017 | $3715800 | 1.00% | $*3128* | $- |
| 25 | 7/15/2017 | $3715800 | 1.00% | $*7562* | $- |
| 26 | 8/15/2017 | $3715800 | 1.00% | $*4553* | $- |
| 27 | 9/15/2017 | $3715800 | 1.00% | $*5586* | $- |
| 28 | 10/15/2017 | $3715800 | 1.00% | $*4376* | $- |
| 29 | 11/15/2017 | $3715800 | 1.00% | $*6483* | $- |
| 30 | 12/15/2017 | $3715800 | 1.00% | $*8529* | $- |
| 31 | 1/15/2018 | $7490400 | 1.00% | $*6030* | $- |
| 32 | 2/15/2018 | $7490400 | 1.00% | $*4805* | $- |
| 33 | 3/15/2018 | $7490400 | 1.00% | $*6772* | $- |
| 34 | 4/15/2018 | $7490400 | 1.00% | $*7690* | $- |
| 35 | 5/15/2018 | $7490400 | 1.00% | $*4529* | $- |
| 36 | 6/15/2018 | $7490400 | 1.00% | $*3083* | $- |
| 37 | 7/15/2018 | $7490400 | 1.00% | $*11003* | $- |
| 38 | 8/15/2018 | $7490400 | 1.00% | $*4643* | $- |
| 39 | 9/15/2018 | $7490400 | 1.00% | $*6198* | $- |
| 40 | 10/15/2018 | $7490400 | 1.00% | $*9896* | $- |
| 41 | 11/15/2018 | $7490400 | 1.00% | $*5965* | $- |
| 42 | 12/15/2018 | $7490400 | 1.00% | $*9516* | $- |
| 43 | 1/15/2019 | $8427375 | 1.00% | $*8366* | $- |
| 44 | 2/15/2019 | $8427375 | 1.00% | $*6544* | $- |
| 45 | 3/15/2019 | $8427375 | 1.00% | $*8224* | $- |
| 46 | 4/15/2019 | $8427375 | 1.00% | $*15032* | $- |
| 47 | 5/15/2019 | $8427375 | 1.00% | $*9964* | $- |
| 48 | 6/15/2019 | $8427375 | 1.00% | $*6726* | $- |
| 49 | 7/15/2019 | $8427375 | 1.00% | $*9213* | $- |
| 50 | 8/15/2019 | $8427375 | 1.00% | $*6400* | $- |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Mth** | **Date** | **Revenue** | **Pmt %** | **Payment** | **Loan<br> Advancement<br> Summary** |
| 51 | 9/15/2019 | $8427375 | 1.00% | $*8012* | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| 52 | 10/15/2019 | $8427375 | 1.00% | $*13533* | $- |
| 53 | 11/15/2019 | $8427375 | 1.00% | $*6847* | $- |
| 54 | 12/15/2019 | $8427375 | 1.00% | $*7183* | $- |
| 55 | 1/15/2020 | $9480000 | 1.00% | $*13245* | $- |
| 56 | 2/15/2020 | $9480000 | 1.00% | $*10850* | $- |
| 57 | 3/15/2020 | $9480000 | 1.00% | $*8118* | $- |
| 58 | 4/15/2020 | $9480000 | 1.00% | $*8496* | $- |
| 59 | 5/15/2020 | $9480000 | 1.00% | $*5425* | $- |
| 60 | 6/15/2020 | $850000 | 1.00% | $*3858* | $- |
| 61 | 7/15/2020 | $850000 | 1.00% | $*8687* | $- |
| 62 | 8/15/2020 | $850000 | 1.00% | $*5788* | $- |
| 63 | 9/15/2020 | $850000 | 1.00% | $*6096* | $- |
| 64 | 10/15/2020 | $850000 | 1.00% | $*5656* | $- |
| 65 | 11/15/2020 | $850000 | 1.00% | $*6654* | $- |
| 66 | 12/15/2020 | $850000 | 1.00% | $*6998* | $- |
| 67 | 1/15/2021 | $850000 | 1.00% | $*7527* | $- |
| 68 | 2/15/2021 | $850000 | 1.00% | $*6105* | $- |
| 69 | 3/15/2021 | $850000 | 1.00% | $*6579* | $- |
| 70 | 4/15/2021 | $850000 | 1.00% | $*6639* | $- |
| 71 | 5/15/2021 | $850000 | 1.00% | $*6634* | $- |
| 72 | 6/15/2021 | $850000 | 1.00% | $*46480* | $- |
| 73 | 7/15/2021 | $850000 | 1.00% | $*48646* | $- |
| 74 | 8/15/2021 | $850000 | 1.00% | $*46591* | $- |
| 75 | 9/15/2021 | $850000 | 1.00% | $*48749* | $- |
| 76 | 10/15/2021 | $850000 | 1.00% | $*46528* | $- |
| 77 | 11/15/2021 | $850000 | 1.00% | $*46919* | $- |
| 78 | 12/15/2021 | $850000 | 1.00% | $48500 | $- |
| 79 | 1/15/2022 | $850000 | 1.00% | $48500 | $- |
| 80 | 2/15/2022 | $850000 | 1.00% | $48500 | $- |
| 81 | 3/15/2022 | $850000 | 1.00% | $48500 | $- |
| 82 | 4/15/2022 | $850000 | 1.00% | $48500 | $- |
| 83 | 5/15/2022 | $850000 | 1.00% | $48500 | $- |
| 84 | 6/15/2022 | $850000 |  | $3647022 | $- |

---

 

*Execution Copy*

 

**SEVENTH AMENDMENT TO REVENUE LOAN AND SECURITY AGREEMENT**

This seventh amendment (this "**Amendment**") to that certain Revenue Loan and Security Agreement dated July 1, 2015, as amended by First Amendment dated November 10, 2015, Second Amendment dated March 10, 2016, Third Amendment dated September 12, 2017, Fourth Amendment dated September 16, 2020, Fifth Amendment dated April 26, 2021, and Sixth Amendment dated November 30, 2021 (collectively, the "**Agreement**"), by and between T1V, Inc., a Delaware corporation (the "**Company**"), Decathlon Alpha II, L.P., a Delaware limited partnership ("**Decathlon II**"), and Decathlon Alpha III, L.P., a Delaware limited partnership ("**Decathlon III**," and together with Decathlon, "**Lender**") is effective April 27, 2022 (the "**Seventh Amendment Date**"). Unless otherwise defined herein, all capitalized terms have the meanings given to them in the Agreement.

The Company and Lender desire to amend certain terms of the Agreement as set forth below including amendment of <u>Schedule 2.3.2(b)</u> and add certain paydowns as described below. The Company and Lender hereby agree as follows:

1. Amendments .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Definitions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The following definitions set forth in <u>Article 11</u> of the Agreement are hereby amended and restated
in their entirety to read as follows:

**"Maturity Date"** means the earlier of: (i) June 30, 2023, (ii) immediately prior to a Change of Control, or (iii) acceleration of the Obligations as provided in Article 8.

**"Applicable Revenue Percentage"** is as set forth in Section 2.3.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The following definition shall be added to <u>Article 11</u> of the Agreement.

**"IPO"** means the completion of a firm commitment underwritten initial public offering pursuant to an effective registration statement filed under the Securities Act of 1933, as amended, covering the offer and sale of the Company's common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Section 2.3.3</u>. Section 2.3.3 shall be amended and restated in its entirety by 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;2.3.3 Applicable Revenue Percentage

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Between April 1, 2022 and July 31, 2022, the Applicable Revenue Percentage is not applicable, and the payment for such month shall be as set forth on <u>Schedule 2.3.2(b)</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Between August 1, 2022 and the Maturity Date (inclusive) the Applicable Revenue Percentage will be 3.00% of Revenue for all payments due during any month within such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. <u>Schedule 2.3.2(b)</u>. An amended and restated <u>Schedule 2.3.2(b)</u> to the Agreement is attached
hereto as <u>Schedule 2.3.2(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4. <u>Schedule 6.2</u>. An amended and restated <u>Schedule 6.2</u> to the Agreement is attached hereto
as <u>Schedule 6.2</u>.

2. Paydowns .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. Following the closing of the IPO, Company shall pay to Lender by wire transfer
or Automated Clearing House (ACH) transfer to the Lender Account described on <u>Schedule 2.3.2(a)</u> of the Agreement the following
amounts (the "**IPO Paydowns** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. 50% of the amount of the outstanding Obligations as of such date (the "**First Paydown** "). The Company shall make the First Paydown no later than five (5) days following the closing of the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The balance of all outstanding Obligations (the "**Second Paydown** ").
The Company shall make the Second Paydown no later 90 days following the closing of the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. The First Paydown is required to be paid to Lender in addition to (and not in lieu of) the monthly
payments required by <u>Section 2.3.2</u> of the Agreement.

3. **IPO Deferral Fee**. If the Company does not close an IPO on or before December
31, 2022 and any of the Obligations remain unsatisfied, an amount equal to $250,000 shall be added to the Obligations and shall be due
and payable upon the Maturity Date.

4. **Catch-Up Payments**. The parties acknowledge and agree that the Catch-Up
Payments required by the Fifth Amendment were not, and will not be payable, after December 15, 2021.

5. **Gross Proceeds Warrant**. In consideration of Lender's agreement to
extend the Maturity Date and make other amendments to the Agreement pursuant to this Amendment, the Company shall issue to Lender one
or more gross proceeds warrants in the form attached as <u>Exhibit A</u> (the "**2022 Warrant(s)**") at the time and with
an aggregate "Buyout Percentage" (as defined in the 2022 Warrant(s)) equal to 0.25%:

6. **Transaction Costs**. Pursuant to <u>Section 12.7(ii)</u> of the Agreement,
the Company shall promptly reimburse Lender an amount equal to $1,000 for all fees and expenses relating to this Amendment.

7. **No Other Changes**. In all other respects, the Agreement shall remain in full force and effect.

*[Signatures on following page]*

 

The parties have executed this Amendment as of the Seventh Amendment Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |
| DECATHLON ALPHA III, L.P. | DECATHLON ALPHA III, L.P. |
| By: | Decathlon Alpha GP III, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |

---

*Signature page to Seventh Amendment to Revenue Loan and Security Agreement*

 

**SCHEDULE 2.3.2(b)**

**PRO-FORMA PAYMENT SCHEDULE**

*See attached.*

**T1 Visions, Inc.**

---

| | | |
|:---|:---|:---|
| **Summary** | |  |
| Total Principal | $1 ,250000 |  |
| Total Interest | $3 ,903623 |  |
| Total Payments | $5 ,153623 |  |
| IRR | 23.75 | % |
| Projected cash-on-cash multiple | 4.12 | x |
| Projected term in months | 97 |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Mth** | **Date** | **Revenue** | **Pmt %** | **Payment** | **Loan<br> Advancement** |
| 0 | 7/1/2015 | $695583 |  |  | $500000 |
| 1 | 7/15/2015 | $695583 | 0.50% | $*3329* | $- |
| 2 | 8/15/2015 | $695583 | 0.50% | $*1111* | $- |
| 3 | 9/15/2015 | $695583 | 0.50% | $*1408* | $150000 |
| 4 | 10/15/2015 | $695583 | 0.50% | $*1994* | $100000 |
| 5 | 11/15/2015 | $695583 | 0.50% | $*1557* | $100000 |
| 6 | 12/15/2015 | $695583 | 0.50% | $*1739* | $- |
| 7 | 1/15/2016 | $1666667 | 0.50% | $*5405* | $100000 |
| 8 | 2/15/2016 | $1666667 | 0.50% | $*3118* | $- |
| 9 | 3/15/2016 | $1666667 | 0.50% | $*2488* | $100000 |
| 10 | 4/15/2016 | $1666667 | 0.50% | $*2653* | $100000 |
| 11 | 5/15/2016 | $1666667 | 0.50% | $*1664* | $100000 |
| 12 | 6/15/2016 | $1666667 | 0.50% | $*1690* | $- |
| 13 | 7/15/2016 | $1666667 | 0.50% | $*1793* | $- |
| 14 | 8/15/2016 | $1666667 | 0.50% | $*2220* | $- |
| 15 | 9/15/2016 | $1666667 | 0.50% | $*2166* | $- |
| 16 | 10/15/2016 | $1666667 | 0.50% | $*4442* | $- |
| 17 | 11/15/2016 | $1666667 | 0.50% | $*2966* | $- |
| 18 | 12/15/2016 | $1666667 | 0.50% | $*2333* | $- |
| 19 | 1/15/2017 | $3715800 | 0.50% | $*2595* | $- |
| 20 | 2/15/2017 | $3715800 | 0.50% | $*1507* | $- |
| 21 | 3/15/2017 | $3715800 | 0.50% | $*1517* | $- |
| 22 | 4/15/2017 | $3715800 | 0.50% | $*2248* | $- |
| 23 | 5/15/2017 | $3715800 | 1.00% | $*2816* | $- |
| 24 | 6/15/2017 | $3715800 | 1.00% | $*3128* | $- |
| 25 | 7/15/2017 | $3715800 | 1.00% | $*7562* | $- |
| 26 | 8/15/2017 | $3715800 | 1.00% | $*4553* | $- |
| 27 | 9/15/2017 | $3715800 | 1.00% | $*5586* | $- |
| 28 | 10/15/2017 | $3715800 | 1.00% | $*4376* | $- |
| 29 | 11/15/2017 | $3715800 | 1.00% | $*6483* | $- |
| 30 | 12/15/2017 | $3715800 | 1.00% | $*8529* | $- |
| 31 | 1/15/2018 | $7490400 | 1.00% | $*6030* | $- |
| 32 | 2/15/2018 | $7490400 | 1.00% | $*4805* | $- |
| 33 | 3/15/2018 | $7490400 | 1.00% | $*6772* | $- |
| 34 | 4/15/2018 | $7490400 | 1.00% | $*7690* | $- |
| 35 | 5/15/2018 | $7490400 | 1.00% | $*4529* | $- |
| 36 | 6/15/2018 | $7490400 | 1.00% | $*3083* | $- |
| 37 | 7/15/2018 | $7490400 | 1.00% | $*11003* | $- |
| 38 | 8/15/2018 | $7490400 | 1.00% | $*4643* | $- |
| 39 | 9/15/2018 | $7490400 | 1.00% | $*6198* | $- |
| 40 | 10/15/2018 | $7490400 | 1.00% | $*9896* | $- |
| 41 | 11/15/2018 | $7490400 | 1.00% | $*5965* | $- |
| 42 | 12/15/2018 | $7490400 | 1.00% | $*9516* | $- |
| 43 | 1/15/2019 | $8427375 | 1.00% | $*8366* | $- |
| 44 | 2/15/2019 | $8427375 | 1.00% | $*6544* | $- |
| 45 | 3/15/2019 | $8427375 | 1.00% | $*8224* | $- |
| 46 | 4/15/2019 | $8427375 | 1.00% | $*15032* | $- |
| 47 | 5/15/2019 | $8427375 | 1.00% | $*9964* | $- |
| 48 | 6/15/2019 | $8427375 | 1.00% | $*6726* | $- |
| 49 | 7/15/2019 | $8427375 | 1.00% | $*9213* | $- |
| 50 | 8/15/2019 | $8427375 | 1.00% | $*6400* | $- |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| 51 | 9/15/2019 | $8427375 | 1.0% | $*8012* | $- |
| 52 | 10/15/2019 | $8427375 | 1.0% | $*13533* | $- |
| 53 | 11/15/2019 | $8427375 | 1.0% | $*6847* | $- |
| 54 | 12/15/2019 | $8427375 | 1.0% | $*7183* | $- |
| 55 | 1/15/2020 | $9480000 | 1.0% | $*13245* | $- |
| 56 | 2/15/2020 | $9480000 | 1.0% | $*10850* | $- |
| 57 | 3/15/2020 | $9480000 | 1.0% | $*8118* | $- |
| 58 | 4/15/2020 | $9480000 | 1.0% | $*8496* | $- |
| 59 | 5/15/2020 | $9480000 | 1.0% | $*5425* | $- |
| 60 | 6/15/2020 | $850000 | 1.0% | $*3858* | $- |
| 61 | 7/15/2020 | $850000 | 1.0% | $*8687* | $- |
| 62 | 8/15/2020 | $850000 | 1.0% | $*5788* | $- |
| 63 | 9/15/2020 | $850000 | 1.0% | $*6096* | $- |
| 64 | 10/15/2020 | $850000 | 1.0% | $*5656* | $- |
| 65 | 11/15/2020 | $850000 | 1.0% | $*6654* | $- |
| 66 | 12/15/2020 | $850000 | 1.0% | $*6998* | $- |
| 67 | 1/15/2021 | $850000 | 1.0% | $*7527* | $- |
| 68 | 2/15/2021 | $850000 | 1.0% | $*6105* | $- |
| 69 | 3/15/2021 | $850000 | 1.0% | $*6579* | $- |
| 70 | 4/15/2021 | $850000 | 1.0% | $*6639* | $- |
| 71 | 5/15/2021 | $850000 | 1.0% | $*6634* | $- |
| 72 | 6/15/2021 | $850000 | 1.0% | $*46480* | $- |
| 73 | 7/15/2021 | $850000 | 1.0% | $*48646* | $- |
| 74 | 8/15/2021 | $850000 | 1.0% | $*46591* | $- |
| 75 | 9/15/2021 | $850000 | 1.0% | $*48749* | $- |
| 76 | 10/15/2021 | $850000 | 1.0% | $*46528* | $- |
| 77 | 11/15/2021 | $850000 | 1.0% | $*46919* | $- |
| 78 | 12/15/2021 | $850000 | 1.0% | $*547298* | $- |
| 79 | 1/15/2022 | $879300 | 1.0% | $*515000* | $- |
| 80 | 2/15/2022 | $1080552 | 1.0% | $*15000* | $- |
| 81 | 3/15/2022 | $1205860 | 1.0% | $*15000* | $- |
| 82 | 4/15/2022 | $1144236 |  | $15000 | $- |
| 83 | 5/15/2022 | $1135371 |  | $15000 | $- |
| 84 | 6/15/2022 | $1555864 |  | $15000 | $- |
| 85 | 7/15/2022 | $1375999 |  | $15000 | $- |
| 86 | 8/15/2022 | $1353832 | 3.0% | $41280 | $- |
| 87 | 9/15/2022 | $1548822 | 3.0% | $40615 | $- |
| 88 | 10/15/2022 | $1339767 | 3.0% | $46465 | $- |
| 89 | 11/15/2022 | $1392056 | 3.0% | $40193 | $- |
| 90 | 12/15/2022 | $1745642 | 3.0% | $41762 | $- |
| 91 | 1/15/2023 | $1315445 | 3.0% | $52369 | $- |
| 92 | 2/15/2023 | $1436196 | 3.0% | $39463 | $- |
| 93 | 3/15/2023 | $1511381 | 3.0% | $43086 | $- |
| 94 | 4/15/2023 | $1474407 | 3.0% | $45341 | $- |
| 95 | 5/15/2023 | $1469088 | 3.0% | $44232 | $- |
| 96 | 6/15/2023 | $1721383 | 3.0% | $44073 | $- |
| 97 | 6/30/2023 | $- |  | $2834027 | $- |

---

**SCHEDULE 6.2**

**CONVERTIBLE NOTES AND SHAREHOLDER LOANS**

1. $12,937.50 Convertible Promissory Note, dated September 27, 2013, in favor of David V. Gilroy

2. $17,502.30 Convertible Promissory Note, dated March 10, 2014, in favor of David V. Gilroy

3. $7,425.00 Convertible Promissory Note, dated March 31, 2015, in favor of David V. Gilroy

4. $275,000.00 Convertible Promissory Note, dated September 27, 2013, in favor of WH&W Private Market
Investment Fund I, LLC

5. $325,000.00 Convertible Promissory Note, dated March 10, 2014, in favor of WH&W Private Market
Investment Fund I, LLC

6. $200,000.00 Convertible Promissory Note, dated March 2, 2015, in favor of WH&W Private Market Investment
Fund I, LLC

7. $50,000.00 Convertible Promissory Note, dated May 1, 2015, in favor of James Morris

8. $300,000.00 Convertible Promissory Note, dated September 27, 2013, in favor of T1 Investment LLC

9. $300,000.00 Convertible Promissory Note, dated March 10, 2014, in favor of T1 Investment LLC

10. $75,000 Convertible Promissory Note, dated April 2, 2014, in favor of IMAF Charlotte

11. $20,000 Convertible Promissory Note, dated January 6, 2014, in favor of Lee & Morse

12. $5,578 Convertible Promissory Note, dated March 31, 2015, in favor of Kisoon Park

13. $7,177 Convertible Promissory Note, dated January 21, 2014, in favor of Elizabeth Goode

14. $6,869 Convertible Promissory Note, dated March 31, 2015, in favor of Elizabeth Goode

15. $2,493 Convertible Promissory Note, dated January 16, 2014, in favor of Suzanne Dane

16. $2,052 Convertible Promissory Note, dated March 31, 2015, in favor of Suzanne Dane

17. $27,017.84 Bridge Loan, as of May 31, 2015, in favor of James Morris

18. $507,787.03 Note Payable, as of May 31, 2015, in favor of Mike Feldman

19. $100,000 Convertible Promissory Note, dated February 5, 2020, in favor of Ross Annable

20. $159,309.59 Convertible Promissory Note, dated February 5, 2020, in favor of Ross Annable

21. $2,000 Convertible Promissory Note, dated February 28, 2020, in favor of Grant Bailey

22. $6,000 Convertible Promissory Note, dated May 4, 2020, in favor of Grant Bailey

23. $20,000 Convertible Promissory Note, dated February 28, 2020, in favor of Chattooga Limited Partnership

24. $18,392 Convertible Promissory Note, dated February 28, 2020, in favor of Chattooga Limited Partnership

25. $100,000 Convertible Promissory Note, dated February 5, 2020, in favor of Edith Feldman

26. $86,805.48 Convertible Promissory Note, dated February 28, 2020, in favor of Edith Feldman

27. $32,000 Convertible Promissory Note, dated February 28, 2020, in favor of Ellen Feldman and Ron Brockman

28. $32,000 Convertible Promissory Note, dated February 28, 2020, in favor of Ellen Feldman and Ron Brockman

29. $78,964.38 Convertible Promissory Note, dated February 5, 2020, in favor of Michael Feldman

30. $7,432.50 Convertible Promissory Note, dated May 4, 2020, in favor of Homesley & Wingo

31. $50,000 Convertible Promissory Note, dated February 5, 2020, in favor of Susan Morse

32. $50,000 Convertible Promissory Note, dated February 5, 2020, in favor of Stuart Ross

33. $150,000 Convertible Promissory Note, dated February 5, 2020, in favor of Taximus AG

34. $25,000 Convertible Promissory Note, dated February 5, 2020, in favor of Bobby Wooten

35. $11,827.86 Convertible Promissory Note, dated February 5, 2020, in favor of Bobby Wooten

36. $5,000 Convertible Promissory Note, dated February 28, 2020, in favor of Jennifer Wooten

37. $25,000 Convertible Promissory Note, dated February 5, 2020, in favor of Juanna Wooten

38. $11,827.86 Convertible Promissory Note, dated February 5, 2020, in favor of Juanna Wooten

39. $50,000 Convertible Promissory Note, dated February 5, 2020, in favor of Robert Wooten

40. $41,921.04 Convertible Promissory Note, dated February 5, 2020, in favor of Robert Wooten

41. $2,300 Promissory Note, dated November 5, 2021, in favor of Grant Bailey

42. $153,333 Promissory Note, dated November 5, 2021, in favor of Andrea Feldman

43. $268,333 Promissory Note, dated November 5, 2021, in favor of Ellen Feldman and Ron Brockman

44. $153,333 Promissory Note, dated November 5, 2021, in favor of Michael Feldman

45. $11,500 Promissory Note, dated November 5, 2021, in favor of Elizabeth Goode

46. $402,500 Promissory Note, dated November 5, 2021, in favor of Taximus AG

47. $28,750 Promissory Note, dated November 5, 2021, in favor of Diane Thompson

48. $100,625 Promissory Note, dated November 5, 2021, in favor of Bobby Wooten

49. $115,000 Promissory Note, dated November 5, 2021, in favor of Jennifer Wooten

50. $100,625 Promissory Note, dated November 5, 2021, in favor of Juanna Wooten

51. $158,125 Promissory Note, dated November 5, 2021, in favor of Kristen Wooten

52. $158,125 Promissory Note, dated November 5, 2021, in favor of Robert Wooten

53. $57,500 Promissory Note, dated January 1, 2022, in favor of Xsensus, LLP

54. $200,000 Promissory Note, dated November 12, 2021, in favor of Ross Annable

**EXHIBIT A**

**FORM OF GROSS PROCEEDS WARRANT**

**EXHIBIT A**

**FORM OF WARRANT**

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**ACT**"), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE, TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS WARRANT MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY.

**WARRANT TO PURCHASE SHARES OF STOCK**

---

| | |
|:---|:---|
| **Effective Date:** | _______________________________________________________________ |
| **Company:** | T1V, Inc., a Delaware corporation |
| **Holder:** | **[**Decathlon Alpha II, L.P. / Decathlon Alpha III, L.P.], a Delaware limited partnership |
| **Exercise Period:** | **Commencing on the Effective Date and ending on the tenth anniversary thereof.** |

---

This certifies that, for value received, Holder, or its registered assigns, is entitled, subject to the provisions and upon the terms and conditions set forth herein, to purchase from the Company, Shares (as defined below), in the amounts, at such times and at the price per share set forth in this Warrant. This Warrant is issued in connection with the transactions described in the Seventh Amendment dated April , 2022 to the Revenue Loan and Security Agreement dated July 1, 2015 by and among the Company and Holder (as amended, the **"Loan Agreement"**). Capitalized words and phrases used but not defined in this Warrant have the meanings given in the Loan Agreement.

The following is a statement of the rights of the Holder and the conditions to which this Warrant is subject, and to which Holder, by acceptance of this Warrant, agrees:

1. Definitions.

**"Applicable Jurisdiction"** means Delaware.

**"Buyout Percentage"** means [ ]%, subject to any adjustments as set forth in Section 2.

**"Change of Control"** means either (a) a merger or consolidation of Company with or into another entity, or other transaction, following which the stockholders of Company immediately prior to such transaction hold securities representing less than a majority of the voting power of the surviving entity or parent of the surviving entity immediately following such transaction, or (b) the sale, lease, license or other disposition of all or substantially all of Company's assets.

**"Common Stock Equivalents"** means shares of the Company's common stock, securities convertible or exercisable into common stock, or options or rights to purchase common stock or securities convertible or exercisable into common stock.

**"Exercise Price"** means $0.10 per Share, subject to adjustment pursuant this Warrant.

**"Gross Proceeds"** means the aggregate consideration directly or indirectly paid or payable to the Company and all shareholders, as well as holders of options, warrants, convertible securities, phantom equity and similar rights (collectively, "**Equity Owners**") in connection with or as a result of the Change of Control determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** In the case of a Change of Control involving the acquisition of equity securities, the Gross Proceeds shall include the total consideration paid or payable to Equity Owners (or the Company in the case of a new issuance), plus the total amount of consideration paid or payable on any outstanding indebtedness for borrowed money (including capitalized leases) of the Company in connection with the Change of Control (without duplication).

&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 the case of a Change of Control involving the acquisition of assets, the Gross Proceeds shall include the total consideration paid or payable for the assets acquired plus the amount of all assumed indebtedness for borrowed money (including capitalized leases) in connection with the Change of Control (without duplication).

&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 any Change of Control, the Gross Proceeds will include consideration paid or payable to the Company and its Equity Owners under covenants not to compete excluding reasonable amounts payable to employees pursuant to employment agreements and similar agreements; provided, however, that (i) such consideration is paid or payable directly to the Company or among all Equity Owners on a pro-rata basis and (ii) the Holder becomes a party to any agreement containing such covenants to the same extent as the Equity Owners.

&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) In any Change of Control, the Gross Proceeds will include the aggregate amount of (i) any dividends or distributions declared within 360 days of or in connection with the Change of Control (other than normal recurring cash dividends in amounts or for purposes consistent with past practice), and (ii) payments by the Company to repurchase any outstanding equity securities in connection with the Change of Control.

&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) In any Change of Control, the Gross Proceeds will include amounts payable pursuant to any earnout, royalty or similar arrangement. To the extent payment of any consideration is contingent, the fair market value of the contingent portion of the consideration shall be determined in good faith by Holder and the Company, taking into account the likelihood of payment, and include it in the Gross Proceeds.

&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 Gross Proceeds will be deemed to include all forms of consideration, including without limitation, cash and cash equivalents, promissory notes and other evidence of indebtedness, securities and other property. Consideration other than cash and cash equivalents will be valued as follows: (A) promissory notes and other evidence of indebtedness will be valued at face value; (B) common stock and securities convertible into common stock will be valued at fair market value (as determined in good faith by agreement of the Company and Holder); (C) preferred stock will be valued at fair market value (as determined in good faith by agreement of the Company and Holder); and (D) securities and property not referenced above will be valued at fair market value (as determined in good faith by agreement of the Company and Holder).

&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) If within 360 days of a Change of Control that does not result in the sale of all of the Company's assets or acquisition by one or more third parties of all of the Company's equity securities, the Company or its Equity Owners receive additional proceeds in connection with either (A) the sale of a substantial portion of the Company's assets as of the date the Change of Control occurred or (B) a third party's acquisition of all of the Company's equity securities, then such proceeds will be considered Gross Proceeds.

&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 Gross Proceeds will exclude costs or expenses paid to third-party advisors in connection with a Change of Control in an amount not exceed five percent (5%) of the aggregate consideration paid or payable to the Company and Equity Owners.

**"Shares"** means shares of the Company's common stock; provided, however, if in the event of a Change of Control, the Holder as a holder of the Company's common stock will not receive an amount equal to the sum of (x) the Buyout Percentage of the Gross Proceeds from a Change of Control plus (y) the Exercise Price, "Shares" shall mean shares of the series of the Company's preferred stock with the most senior liquidation preference which will result in the Holder after exercise of this Warrant receiving the sum of (x) the Buyout Percentage of the Gross Proceeds from a Change of Control, plus (y) the Exercise Price.

**"Warrant"** means this Warrant and any warrants delivered in substitution or exchange therefor as provided herein.

**2. Number of Shares.** Subject to any previous exercise of this Warrant, the Holder shall, upon exercise of this Warrant, have the right to receive a number of Shares that will result in the Holder receiving an amount equal to the Buyout Percentage of the Gross Proceeds from a Change of Control plus the Exercise Price. If the number of Common Stock Equivalents outstanding on the date of the exercise of this Warrant exceeds the number of Common Stock Equivalents outstanding on the Effective Date (subject to stock splits, reclassifications, reorganizations, or otherwise), the Buyout Percentage shall be reduced in accordance with the following formula:

BP<sub>A</sub>=BP<sub>B </sub>x [CE<sub>B</sub>/CE<sub>A</sub>]

---

| | |
|:---|:---|
| Where: |  |
|  | BP<sub>A</sub> = Buyout Percentage after adjustment under this Section 2. |
|  | BP<sub>B</sub> = Initial Buyout Percentage set forth in Section 1. |
|  | CE<sub>A</sub> = Common Stock Equivalents outstanding immediately prior to the Change of Control. |
|  | CE<sub>B</sub> = Common Stock Equivalents outstanding as of the date hereof. |

---

The following Common Stock Equivalents shall not be considered for the purpose calculating the CEA: (i) Common Stock Equivalents issued, directly or indirectly, for the purpose of diluting the Buyout Percentage; and (ii) exercisable securities of which the exercise price per share exceeds the per share consideration to be received if such securities were exercised immediately prior to the Change of Control.

3. Exercise of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1 Exercise.** The purchase rights represented by this Warrant may be exercised at the election of the Holder in whole or in part by:

&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 tender to the Company at its principal office (or such other office or agency as the Company may designate) of a notice of exercise in the form of <u>Exhibit A</u> (the "Notice of Exercise"), duly completed and executed by or on behalf of the Holder, together with the surrender of this Warrant; 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;(ii) the payment to the Company of an amount equal to (x) the Exercise Price multiplied by (y) the number of Shares being purchased, by wire transfer or certified, cashier's or other check acceptable to the Company and payable to the order of the Company, surrender and cancellation of promissory notes or other instruments representing indebtedness of the Company to the Holder, or a combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2 Net Issue Exercise.** In lieu of exercising this Warrant pursuant to Section 3.1, if the aggregate amount that the Shares of Holder will receive from the Gross Proceeds is greater than the aggregate Exercise Price (at the date of calculation as set forth below) the Holder may elect to receive a number of Shares equal to the value of this Warrant (or of any portion of this Warrant being canceled) by surrender of this Warrant at the principal office of the Company (or such other office or agency as the Company may designate) together with a properly completed and executed Notice of Exercise reflecting such election, in which event the Company shall issue to the Holder that number of Shares computed using the following formula:

X = <u>Y (A – B)</u> <br> A

---

| | | | |
|:---|:---|:---|:---|
| Where: |  |  |  |
|  | X | = | The number of Shares to be issued to the Holder |
|  | Y | = | The number of Shares purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being canceled (at the date of such calculation) |
|  | A | = | The amount of Gross Proceeds received by one Share (at the date of such calculation) |
|  | B | = | The Exercise Price (as adjusted to the date of such calculation) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3 Stock Certificates.** The rights under this Warrant shall be deemed to have been exercised and the Shares issuable upon such exercise shall be deemed to have been issued immediately prior to the close of business on the date this Warrant is exercised in accordance with its terms, and the person entitled to receive the Shares issuable upon such exercise shall be treated for all purposes as the holder of record of such Shares as of the close of business on such date. As promptly as reasonably practicable on or after such date, the Company shall issue and deliver to the person or persons entitled to receive the same a certificate or certificates for that number of shares issuable upon such exercise. In the event that the rights under this Warrant are exercised in part and have not expired, the Company shall execute and deliver a new Warrant reflecting the number of Shares that remain subject to this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.4 No Fractional Shares or Scrip.** No fractional shares or scrip representing fractional shares shall be issued upon the exercise of the rights under this Warrant. In lieu of such fractional share to which the Holder would otherwise be entitled, the Company shall make a cash payment equal to the Exercise Price multiplied by such fraction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.5 Automatic Exercise or Purchase.** If the Holder of this Warrant has not elected to exercise this Warrant prior to the expiration of this Warrant pursuant to Section 8(i), then the Company shall, immediately prior to the closing of the Change of Control, pay to the Holder (without any act on the part of the Holder) the amount of securities and/or property (including cash) which the Holder would have been entitled to receive pursuant to such Change of Control if this Warrant had been exercised immediately prior to the effective date of such Change of Control; upon Holder's receipt of such payment this Warrant shall be automatically terminated in its entirety without any act on the part of the Holder, except to the extent that Holder may be entitled to additional payments pursuant to subpart (vii) of the definition of Gross Proceeds. If the Holder of this Warrant has not elected to exercise this Warrant prior to expiration of this Warrant pursuant to Section 8(ii), 8(iii) or 8(iv), then this Warrant shall automatically (without any act on the part of the Holder) be exercised pursuant to Section 3.2 effective immediately prior to the expiration of the Warrant to the extent such net issue exercise would result in the issuance of Shares, unless Holder earlier provides written notice to the Company that the Holder desires that this Warrant expire unexercised. If this Warrant is automatically exercised, the Company shall notify the Holder of the automatic exercise as soon as reasonably practicable, and the Holder shall surrender the Warrant to the Company in accordance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.6 Reservation of Stock.** During the Exercise Period, the Company shall take all reasonable action to reserve and keep available from its authorized and unissued shares of common stock and preferred stock, if applicable, for the purpose of effecting the exercise of this Warrant such number of shares (and shares of common stock for issuance on conversion of such shares) as shall from time to time be sufficient to effect the exercise of the rights under this Warrant; and if at any time the number of authorized but unissued shares of common stock and preferred stock, if applicable, shall not be sufficient for purposes of the exercise of this Warrant in accordance with its terms and the conversion of the Shares, without limitation of such other remedies as may be available to the Holder, the Company will use all reasonable efforts to take such corporate action as may, in the opinion of counsel, be necessary to increase its authorized and unissued shares of its common stock and preferred stock, if applicable, (and shares of common stock for issuance on conversion of such shares) to a number of shares as shall be sufficient for such purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.7 Replacement of the Warrant.** Subject to the receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor and amount.

4. Transfer of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1 Warrant Register.** The Company shall maintain a register (the "Warrant Register") containing the name and address of the Holder or Holders. Until this Warrant is transferred on the Warrant Register in accordance herewith, the Company may treat the Holder as shown on the Warrant Register as the absolute owner of this Warrant for all purposes, notwithstanding any notice to the contrary. Any Holder of this Warrant (or of any portion of this Warrant) may change its address as shown on the Warrant Register by written notice to the Company requesting a change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2 Warrant Agent.** The Company may appoint an agent for the purpose of maintaining the Warrant Register referred to in Section 4.1, issuing the Shares or other securities then issuable upon the exercise of the rights under this Warrant, exchanging this Warrant, replacing this Warrant or conducting related activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Transferability of the Warrant.** Subject to the provisions of this Warrant with respect to compliance with the Securities Act of 1933, as amended (the "Securities Act") and limitations on assignments and transfers, including without limitation compliance with the restrictions on transfer set forth in Section 5, title to this Warrant may be transferred by endorsement (by the transferor and the transferee executing the assignment form attached as <u>Exhibit B</u> (the "Assignment Form")) and delivery in the same manner as a negotiable instrument transferable by endorsement and delivery. Notwithstanding anything herein to the contrary, in no event shall any Holder transfer this Warrant to any person which the Company's board of directors reasonably determines in good faith to be a competitor of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4 Exchange of the Warrant upon a Transfer.** On surrender of this Warrant (and a properly endorsed Assignment Form) for exchange, subject to the provisions of this Warrant with respect to compliance with the Securities Act and limitations on assignments and transfers, the Company shall issue to or on the order of the Holder a new warrant or warrants of like tenor, in the name of the Holder or as the Holder (on payment by the Holder of any applicable transfer taxes) may direct, for the number of shares issuable upon exercise hereof, and the Company shall register any such transfer upon the Warrant Register. This Warrant (and the securities issuable upon exercise of the rights under this Warrant) must be surrendered to the Company or its warrant or transfer agent, as applicable, as a condition precedent to the sale, pledge, hypothecation or other transfer of any interest in any of the securities represented hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5 Minimum Transfer.** This Warrant may not be transferred in whole or part unless such transfer is to a transferee who, pursuant to such transfer, receives the right to purchase all of the Shares purchasable pursuant to this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6 Taxes.** In no event shall the Company be required to pay any tax which may be payable in respect of any transfer involved in the issue and delivery of any certificate in a name other than that of the Holder, and the Company shall not be required to issue or deliver any such certificate unless and until the person or persons requesting the issue thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid or is not payable.

 **5. Restrictions on Transfer of the Warrant and Shares; Compliance with Securities Laws.** By acceptance of this Warrant, the Holder agrees to comply with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1 Restrictions on Transfers.** The Holder may not transfer or assign this Warrant in whole or in part without providing the Company with 10 days prior written notice, and any attempt by Holder to transfer or assign any rights, duties or obligations that arise under this Warrant without such notice shall be void. Any transfer of this Warrant or the Shares or the shares of common stock issuable upon conversion of the Shares (the "**Securities**") must be in compliance with all applicable federal and state securities laws. The Holder agrees not to make any sale, assignment, transfer, pledge or other disposition of all or any portion of the Securities, or any beneficial interest therein, unless and until (a) the transferee thereof has agreed in writing for the benefit of the Company to take and hold such Securities subject to, and to be bound by, the terms and conditions set forth in this Warrant to the same extent as if the transferee were the original Holder hereunder, and (b) (1) there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement, or (2) (A) such Holder shall have given prior written notice to the Company of such Holder's intention to make such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition, (B) the transferee shall have confirmed to the satisfaction of the Company in writing that the Securities are being acquired (i) solely for the transferee's own account and not as a nominee for any other party, (ii) for investment and (iii) not with a view toward distribution or resale, and shall have confirmed such other matters related thereto as may be reasonably requested by the Company, and (C) if requested by the Company, such Holder shall have furnished the Company, at the Holder's expense, with an opinion of counsel, reasonably satisfactory to the Company, to the effect that such disposition will not require registration of such Securities under the Securities Act whereupon such Holder shall be entitled to transfer such Securities in accordance with the terms of the notice delivered by the Holder to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2 Investment Representation Statement.** Unless the rights under this Warrant are exercised pursuant to an effective registration statement under the Securities Act that includes the Shares with respect to which the Warrant was exercised, it shall be a condition to any exercise of the rights under this Warrant that the Holder shall have confirmed to the satisfaction of the Company in writing that the Shares so purchased are being acquired solely for the Holder's own account and not as a nominee for any other party, for investment and not with a view toward distribution or resale and that the Holder shall have confirmed such other matters related thereto as may be reasonably requested by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3 Securities Law Legend.** The Securities shall (unless otherwise permitted by the provisions of this Warrant) be stamped or imprinted with a legend substantially similar to the following (in addition to any legend required by state securities laws):

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "**ACT**"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION REQUIREMENTS OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. THIS CERTIFICATE MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4 Instructions Regarding Transfer Restrictions.** The Holder consents to the Company making a notation on its records and giving instructions to any transfer agent in order to implement the restrictions on transfer established in this Section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5 Removal of Legend.** The legend referring to federal and state securities laws identified in Section 5.3 stamped on a certificate evidencing the Shares (and the common stock issuable upon conversion thereof) and the stock transfer instructions and record notations with respect to such securities shall be removed and the Company shall issue a certificate without such legend to the holder of such securities if (i) such securities are registered under the Securities Act, or (ii) such holder provides the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a sale or transfer of such securities may be made without registration or qualification.

**6. Adjustments.** Subject to the expiration of this Warrant pursuant to Section 8, the number and kind of shares purchasable hereunder and the Exercise Price therefor are subject to adjustment from time to time, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 Merger or Reorganization.** If at any time there shall be any reorganization, recapitalization, merger or consolidation (a "**Reorganization**") involving the Company (other than as otherwise provided for herein or as would cause the expiration of this Warrant under Section 8) in which shares of the Company's stock are converted into or exchanged for securities, cash or other property, then, as a part of such Reorganization, lawful provision shall be made so that the Holder shall thereafter be entitled to receive upon exercise of this Warrant, the kind and amount of securities, cash or other property of the successor corporation resulting from such Reorganization, equivalent in value to that which a holder of the Shares deliverable upon exercise of this Warrant would have been entitled in such Reorganization if the right to purchase the Shares hereunder had been exercised immediately prior to such Reorganization. In any such case, appropriate adjustment (as determined in good faith by the board of directors of the successor corporation) shall be made in the application of the provisions of this Warrant with respect to the rights and interests of the Holder after such Reorganization to the end that the provisions of this Warrant shall be applicable after the event, as near as reasonably may be, in relation to any shares or other securities deliverable after that event upon the exercise of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 Notice of Adjustments.** Upon any adjustment in accordance with this Section 6, the Company shall give notice thereof to the Holder, which notice shall state the event giving rise to the adjustment, the Exercise Price as adjusted and the number of securities or other property purchasable upon the exercise of the rights under this Warrant, setting forth in reasonable detail the method of calculation of each. The Company shall, upon the written request of any Holder, furnish or cause to be furnished to such Holder a certificate setting forth (i) such adjustments, (ii) the Exercise Price at the time in effect and (iii) the number of securities and the amount, if any, of other property that at the time would be received upon exercise of this Warrant.

**7. Notification of Certain Events.** Prior to the expiration of this Warrant pursuant to Section 8, in the event that the Company shall authorize any transaction resulting in the expiration of this Warrant pursuant to Section 8, the Company shall send to the Holder of this Warrant at least ten (10) days prior written notice of the expected effective date of any such event. The notice provisions set forth in this section may be shortened or waived prospectively or retrospectively by the consent of the Holder of this Warrant.

**8. Expiration of the Warrant.** This Warrant shall expire and shall no longer be exercisable as of the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** The Closing of a Change of Control of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** The voluntary liquidation, dissolution or winding up of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** Immediately prior to the closing of a firm commitment underwritten
initial public offering pursuant to an effective registration statement filed under the Securities Act covering the offering and sale
of the Company's common stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv)** Expiration of the Exercise Period.

**9. No Rights as a Stockholder.** Nothing contained herein shall entitle the Holder to any rights as a stockholder of the Company or to be deemed the holder of any securities that may at any time be issuable on the exercise of the rights hereunder for any purpose nor shall anything contained herein be construed to confer upon the Holder, as such, any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value or change of stock to no par value, consolidation, merger, conveyance or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or any other rights of a stockholder of the Company until the rights under the Warrant shall have been exercised and the Shares purchasable upon exercise of the rights hereunder shall have become deliverable as provided herein.

**10. Representations and Warranties of the Holder.** By acceptance of this Warrant, the Holder represents and warrants to the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1 No Registration.** The Holder understands that the Securities have not been, and will not be, registered under the Securities Act by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Holder's representations as expressed herein or otherwise made pursuant hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2 Investment Intent.** The Holder is acquiring the Securities for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, any distribution thereof. The Holder has no present intention of selling, granting any participation in, or otherwise distributing the Securities, nor does it have any contract, undertaking, agreement or arrangement for the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3 Investment Experience.** The Holder has substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company, and has such knowledge and experience in financial or business matters so that it is capable of evaluating the merits and risks of its investment in the Company and protecting its own interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4 Speculative Nature of Investment.** The Holder understands and acknowledges that the Company has a limited financial and operating history and that its purchase of this Warrant is highly speculative and involves substantial risks. The Holder can bear the economic risk of its investment and is able, without impairing its financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of its investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5 Access to Data.** The Holder has had an opportunity to ask questions of officers of the Company, which questions were answered to its satisfaction. The Holder believes that it has received all the information that it considers necessary or appropriate for deciding whether to acquire the Securities. The Holder understands that any such discussions, as well as any information issued by the Company, were intended to describe certain aspects of the Company's business and prospects, but were not necessarily a thorough or exhaustive description. The Holder acknowledges that any business plans prepared by the Company have been, and continue to be, subject to change and that any projections included in such business plans or otherwise are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6 Accredited Investor.** The Holder is an "accredited investor" within the meaning of Regulation D, Rule 501(a), promulgated by the Securities and Exchange Commission and agrees to submit to the Company such further assurances of such status as may be reasonably requested by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7 Residency.** The residency of the Holder (or, in the case of a partnership or corporation, such entity's principal place of business) is correctly set forth on the signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8 Restrictions on Resales.** The Holder acknowledges that the Securities must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available. The Holder is aware of the provisions of Rule 144 promulgated under the Securities Act, which permit resale of shares purchased in a private placement subject to the satisfaction of certain conditions, which may include, among other things, the availability of certain current public information about the Company; the resale occurring not less than a specified period after a party has purchased and paid for the security to be sold; the number of shares being sold during any three-month period not exceeding specified limitations; the sale being effected through a "broker's transaction," a transaction directly with a "market maker" or a "riskless principal transaction" (as those terms are defined in the Securities Act or the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder); and the filing of a Form 144 notice, if applicable. The Holder acknowledges and understands that the Company may not be satisfying the current public information requirement of Rule 144 at the time the Holder wishes to sell the Securities and that, in such event, the Holder may be precluded from selling the Securities under Rule 144 even if the other applicable requirements of Rule 144 have been satisfied. The Holder acknowledges that, in the event the applicable requirements of Rule 144 are not met, registration under the Securities Act or an exemption from registration will be required for any disposition of the Securities. The Holder understands that, although Rule 144 is not exclusive, the Securities and Exchange Commission has expressed its opinion that persons proposing to sell restricted securities received in a private offering other than in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales and that such persons and the brokers who participate in the transactions do so at their own risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9 No Public Market.** The Holder understands and acknowledges that no public market now exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company's securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.10 Brokers and Finders.** The Holder has not engaged any brokers, finders or agents in connection with the Securities, and the Company has not incurred nor will incur, directly or indirectly, as a result of any action taken by the Holder, any liability for brokerage or finders' fees or agents' commissions or any similar charges in connection with the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.11 Legal Counsel.** The Holder and the Company have both had the opportunity to review this Warrant, the exhibits and schedules attached hereto and the transactions contemplated by this Warrant with their respective legal counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.12 Tax Advisors.** The Holder and the Company have both independently reviewed with their respective tax advisors the U.S. federal, state and local and non-U.S. tax consequences of this investment and the transactions contemplated by this Warrant. With respect to such matters, each relies solely on any such advisors and not on any statements or representations of the Company or any of its agents, written or oral.

11. Miscellaneous.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1 Amendments.** Except as expressly provided herein, neither this Warrant nor any term hereof may be amended, waived, discharged or terminated other than by a written instrument referencing this Warrant and signed by the Company and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2 Waivers.** No waiver of any single breach or default shall be deemed a waiver of any other breach or default theretofore or thereafter occurring.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3 Notices.** All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile or electronic mail (if to the Holder) or otherwise delivered by hand, messenger or courier service addressed:

&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 to the Holder, to the Holder at the Holder's address or facsimile number as shown in the Company's records, as may be updated in accordance with the provisions hereof, or until any such Holder so furnishes an address, facsimile number, then to and at the address, facsimile number of the last holder of this Warrant for which the Company has contact information in its records; with a copy to Kevin Spreng, Fredrikson & Byron, P.A. 200 South Sixth Street, Minneapolis, MN 55402; 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;(ii) if to the Company, to the attention of the Chief Executive Officer of the Company at the Company's address as shown on the signature page hereto, or at such other address as the Company shall have furnished to the Holder.

All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day; (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. In the event of any conflict between the Company's books and records and this Warrant or any notice delivered hereunder, the Company's books and records will control absent fraud or error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4 Governing Law.** This Warrant and all actions arising out of or in connection with this Warrant shall be governed by and construed in accordance with the laws of the Applicable Jurisdiction, without regard to the conflicts of law provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.5 Jurisdiction and Venue.** If Holder initiates a claim in connection with any matter based upon or arising out of this Warrant or the matters contemplated herein, each of Holder and Company irrevocably consents to the exclusive jurisdiction and venue of any federal court within Charlotte, North Carolina, and agrees that process may be served upon them in any manner authorized by the laws of North Carolina for such persons. If the Company initiates a claim in connection with any matter based upon or arising out of this Warrant or the matters contemplated herein or therein, each of Holder and Company irrevocably consents to the exclusive jurisdiction and venue of any federal court within Palo Alto, California, and agrees that process may be served upon them in any manner authorized by the laws of California for such persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.6 Titles and Subtitles.** The titles and subtitles used in this Warrant are used for convenience only and are not to be considered in construing or interpreting this Warrant. All references in this Warrant to sections, paragraphs and exhibits shall, unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.7 Severability.** If any provision of this Warrant becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Warrant, and such illegal, unenforceable or void provision shall be replaced with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, unenforceable or void provision. The balance of this Warrant shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.8 Waiver of Jury Trial.** EACH OF THE HOLDER AND THE COMPANY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS WARRANT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.9 Rights and Obligations Survive Exercise of the Warrant.** Except as otherwise provided herein, the rights and obligations of the Company and the Holder under this Warrant shall survive exercise of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.10 Entire Agreement.** Except as expressly set forth herein, this Warrant (including the exhibits attached hereto) constitutes the entire agreement and understanding of the Company and the Holder with respect to the subject matter hereof and supersede all prior agreements and understandings relating to the subject matter hereof.

**The signature page follows.**

The Company and the Holder sign this Warrant as of the Effective Date.

---

| |
|:---|
| **T1VISIONS, INC.** |
| By: |
| Name: |
| Title: |
| Address: |
| 10430 Harris Oaks Boulevard, Suite F<br> Charlotte, North Carolina 28269 |

---

Email address:  

---

| | |
|:---|:---|
| **AGREED AND ACKNOWLEDGED,** | **AGREED AND ACKNOWLEDGED,** |
| **[DECATHLON ALPHA II, L.P. / DECATHLON ALPHA III, L.P.]** | **[DECATHLON ALPHA II, L.P. / DECATHLON ALPHA III, L.P.]** |
| By: | [Decathlon Alpha GP II, LLC / Decathlon Alpha GP II, LLC] |
| Its: | General Partner |

---

---

| |
|:---|
| By: |
| Name: |
| Title: |
| Address: |
| 1441 West Ute Boulevard, Suite 240 <br> Park City, Utah 84098 |

---

Email address:  

**EXHIBIT A**

**NOTICE OF EXERCISE**

---

| | |
|:---|:---|
| **TO:** | **T1VISIONS, INC. (the "Company")** |
| **Attention:** | **Chief Executive Officer** |

---

**1. Exercise.** The undersigned elects to purchase the following pursuant to the terms of the attached warrant:

Number of shares:   <br> Type of security:  

 **2. Method of Exercise.** The undersigned elects to exercise the attached warrant pursuant to:

☐ A cash payment or cancellation of indebtedness, and tenders herewith payment of the purchase price for such shares in full, together with all applicable transfer taxes, if any.

☐ The net issue exercise provisions of Section 3.2 of the attached warrant.

 **3. Stock Certificate.** Please issue a certificate or certificates representing the shares in the name of:

☐ The undersigned

☐ Other—Name:   <br> Address:   <br>  

**4. Unexercised Portion of the Warrant.** Please issue a new warrant for the unexercised portion of the attached warrant in the name of:

☐ The undersigned

☐ Other—Name:   <br> Address:   <br>  

☐ Not applicable

**5. Investment Intent.** The undersigned represents and warrants that the aforesaid shares are being acquired for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and that the undersigned has no present intention of selling, granting any participation in, or otherwise distributing the shares, nor does it have any contract, undertaking, agreement or arrangement for the same, and all representations and warranties of the undersigned set forth in Section 11 of the attached warrant are true and correct as of the date hereof.

---

| |
|:---|
| (Print name of the warrant holder) |
| (Signature) |
| (Name and title of signatory, if applicable) |
| (Date) |
| (Email address) |

---

**EXHIBIT B**

**ASSIGNMENT FORM**

---

| | |
|:---|:---|
| ASSIGNOR: | |
| COMPANY: | T1VISIONS, INC. (THE "**COMPANY**") |
| WARRANT: | THE WARRANT TO PURCHASE SHARES OF STOCK HELD BY ASSIGNOR (THE "**WARRANT**") |

---

DATE:

**1. Assignment.** The undersigned registered holder of the Warrant ("**Assignor**") assigns and transfers to the assignee named below ("**Assignee**") all of the rights of Assignor under the Warrant:

Name of Assignee:   <br> Address of Assignee:   <br>  

and does irrevocably constitute and appoint<u> </u>as attorney to make such transfer on the books of the Company, maintained for the purpose, with full power of substitution in the premises.

**2. Obligations of Assignee.** Assignee agrees to take and hold the Warrant and any shares of stock to be issued upon exercise of the rights thereunder (and any shares issuable upon conversion thereof) (the "**Securities**") subject to, and to be bound by, the terms and conditions set forth in the Warrant to the same extent as if Assignee were the original holder thereof.

 **3. Investment Intent.** Assignee represents and warrants that the Securities are being acquired for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and that Assignee has no present intention of selling, granting any participation in, or otherwise distributing the shares, nor does it have any contract, undertaking, agreement or arrangement for the same, and all representations and warranties set forth in Section 11 of the Warrant are true and correct as to Assignee as of the date hereof.

Assignor and Assignee are signing this Assignment Form on the date first set forth above.

---

| | |
|:---|:---|
| **ASSIGNOR** | **ASSIGNEE** |
| (Print name of Assignor) | (Print name of Assignee) |
| (Signature of Assignor) | (Signature of Assignee) |
| (Print name of signatory, if applicable) | (Print name of signatory, if applicable) |
| (Print title of signatory, if applicable) | (Print title of signatory, if applicable) |
| (Address) | (Address) |

---

*Execution Copy*

**EIGHTH AMENDMENT TO REVENUE LOAN AND SECURITY AGREEMENT**

This eighth amendment (this "**Amendment**") to that certain Revenue Loan and Security Agreement dated July 1, 2015, as amended by First Amendment dated November 10, 2015, Second Amendment dated March 10, 2016, Third Amendment dated September 12, 2017, Fourth Amendment dated September 16, 2020, Fifth Amendment dated April 26, 2021, Sixth Amendment dated November 30, 2021, and Seventh Amendment dated April 27, 2022 (collectively, the "**Agreement**"), by and between T1V, Inc., a Delaware corporation (the "**Company**"), Decathlon Alpha II, L.P., a Delaware limited partnership ("**Decathlon II**"), and Decathlon Alpha III, L.P., a Delaware limited partnership ("**Decathlon III**," and together with Decathlon, "**Lender**") is effective October 24, 2022 (the "**Eighth Amendment Date**"). Unless otherwise defined herein, all capitalized terms have the meanings given to them in the Agreement.

The Company and Lender desire to amend certain terms of the Agreement as set forth below and add certain possible deferment fees as described below. The Company and Lender hereby agree as follows:

1. **Reduced Payments**. The Company and Lender previously agreed that the monthly
payments between August 15, 2022 and October 15, 2022, as required by Section 2.3.2(b) of the Agreement, would be reduced to $15,000 per
month (the "**Payment Reduction** "), but this Payment Reduction was not formally documented. Effective as of August 15,
2022, the Lender hereby agrees that for each of August 15, 2022, September 15, 2022 and October 15, 2022, the monthly payments required
by Section 2.3.2(b) of the Agreement were reduced to $15,000 per month.

2. **Waiver**. The Lender hereby waives any Events of Default that may have occurred
as a result of the failure to formally document the Payment Reduction.

3. **Monthly Payment Option; Deferral Fee**. For each of November 15, 2022, December
15, 2022 and January 15, 2023 (each a "**Deferral Month** "), respectively, the Company may choose to pay either a fixed
payment of $15,000 (a "**Fixed Payment**") or the payment amount set forth on <u>Schedule 2.3.2(b)</u> for such Deferral
Month. For each Deferral Month that the Company makes a Fixed Payment, the Company shall incur a $10,000 deferral fee (the "**Deferral Fee** "). For example, if the Company made a Fixed Payment in each of October, November, and December, a $30,000 Deferral Fee would
be added to the Obligations. The Deferral Fee, if any, shall be due and payable on the Maturity Date.

4. **Transaction Costs**. Pursuant to <u>Section 12.7(ii)</u> of the Agreement,
the Company shall promptly reimburse Lender an amount equal to $1,000 for all fees and expenses relating to this Amendment.

5. **No Other Changes**. In all other respects, the Agreement shall remain in full force and effect.

*[Signatures on following page]*

Execution Copy

The parties have executed this Amendment as of the Eighth Amendment Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, INC. | T1V, INC. |
| By: | /s/ Mike Feldman |
|  | Mike Feldman, Chief Executive Officer |
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |
| DECATHLON ALPHA III, L.P. | DECATHLON ALPHA III, L.P. |
| By: | Decathlon Alpha GP III, LLC |
| Its: | General Partner |
| By: | /s/ John Borchers |
|  | John Borchers, Managing Director |

---

## Exhibit 10.5

**Exhibit 10.5**

**T1V, INC.**

**INDEMNIFICATION AGREEMENT**

This **Indemnification Agreement** (this "**Agreement**") is made and entered into on , by and between **T1V, Inc.**, a Delaware corporation (the "**Company**"), and ("**Indemnitee**").

**WITNESSETH THAT:**

**WHEREAS**, highly competent persons have become more reluctant to serve companies as directors, officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the company;

**WHEREAS**, although the furnishing of liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities has been a customary and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself. The Certificate of Incorporation of the Company, as amended (the "**Charter**") and the Bylaws of the Company, as amended (the "**Bylaws**") require indemnification of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware ("**DGCL**"). The Charter, Bylaws and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the Company's board of directors (the "**Board**"), officers and other persons with respect to indemnification;

**WHEREAS**, the uncertainties relating to liability insurance and to indemnification have increased the difficulty of attracting and retaining such persons;

**WHEREAS**, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company's stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future;

**WHEREAS**, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified;

**WHEREAS**, this Agreement is a supplement to and in furtherance of the Charter, Bylaws and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

**WHEREAS**, Indemnitee does not regard the protection available under the Charter, Bylaws and insurance as adequate in the present circumstances, and may not be willing to serve as an officer and/or director without adequate protection, and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that Indemnitee be so indemnified; and

**NOW, THEREFORE**, in consideration of Indemnitee's agreement to serve as an officer and/or a director from and after the date hereof, the parties hereto agree 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;1. <u>Indemnity of Indemnitee</u>. The Company hereby agrees to hold harmless and indemnify Indemnitee to the fullest extent permitted by law, as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Proceedings Other Than Proceedings by or in the Right of the Company</u>. Indemnitee shall be entitled to the rights of indemnification provided in this <u>Section l(a)</u> if, by reason of Indemnitee's Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of the Company. Pursuant to this <u>Section 1(a)</u>, Indemnitee shall be indemnified against all Expenses (as hereinafter defined), judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee, or on Indemnitee's behalf, in connection with such Proceeding or any claim, issue or matter therein, if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding, had no reasonable cause to believe the Indemnitee's conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>Proceedings by or in the Right of the Company</u>. Indemnitee shall be entitled to the rights of indemnification provided in this <u>Section 1(b)</u> if, by reason of Indemnitee's Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding brought by or in the right of the Company. Pursuant to this <u>Section 1(b)</u>, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee's behalf, in connection with such Proceeding if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; provided, however, if applicable law so provides, no indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that the Delaware Court (as defined in <u>Section 20</u>) or other court of competent jurisdiction shall determine that such indemnification may be 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Indemnification for Expenses of a Party Who is Wholly or Partly Successful</u>. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee's Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, Indemnitee shall be indemnified to the maximum extent permitted by law, as such may be amended from time to time, against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with each successfully resolved claim, issue or matter. For purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or 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;2. <u>Additional Indemnity</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;(a) <u>Indemnification of Indemnitee</u>. In addition to, and without regard to any limitations on, the indemnification provided for in <u>Section 1</u> of this Agreement, the Company shall and hereby does indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee's behalf if, by reason of Indemnitee's Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the negligence or active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the Company's obligations pursuant to this Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that is finally determined (under the procedures, and subject to the presumptions, set forth in <u>Sections 6</u> and <u>7</u> hereof) to be unlawful.

&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>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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Whether or not the indemnification provided in <u>Sections 1</u> and <u>2</u> hereof is available, in respect of any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company shall pay, in the first instance, the entire amount of any judgment or settlement of such action, suit or proceeding without requiring Indemnitee to contribute to such payment and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee or the Indemnitee consents to such settlement in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Without diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason, Indemnitee shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company shall contribute to the amount of Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction(s) or event(s) from which such action, suit or proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the transaction(s) or event(s) that resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations which applicable law may require to be considered. The relative fault of the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which their conduct is active or passive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims of contribution which may be brought by officers, directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) To the fullest extent permissible under applicable law and without diminishing or impairing the obligations of the Company set forth in the preceding subparagraphs of this <u>Section 3</u>, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s).

&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>Indemnification for Expenses of a Witness</u>. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee's Corporate Status, a witness, or is made to (or asked to) respond to discovery requests, in any Proceeding to which Indemnitee is not a party, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection therewith.

&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. <u>Advancement of Expenses</u>. Notwithstanding any other provision of this Agreement, the Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee's Corporate Status within thirty (30) days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or accompanied by a written undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings to repay pursuant to this <u>Section 5</u> shall be unsecured and interest free and not conditioned on Indemnitee's ability to repay such advances.

&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. <u>Procedures and Presumptions for Determination of Entitlement to Indemnification</u>. It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly, the parties agree that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee is entitled to indemnification 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure of Indemnitee to provide such a request to the Company, or to provide such a request in a timely fashion, shall not relieve the Company of any liability that it may have to Indemnitee unless, and to the extent that, such failure actually and materially prejudices the interests 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon written request by Indemnitee for indemnification pursuant to the first sentence of <u>Section 6(a)</u> hereof, a determination with respect to Indemnitee's entitlement thereto shall be made in the specific case by one of the following four methods, which shall be at the election of the Board: (1) by a majority vote of the Disinterested Directors (as hereinafter defined), even though less than a quorum, (2) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum, (3) if there are no Disinterested Directors or if the Disinterested Directors so direct, by Independent Counsel (as hereinafter defined) in a written opinion to the Board, a copy of which shall be delivered to the Indemnitee, or (4) if so directed by the Board, by the stockholders of the Company. The Board shall notify Indemnitee on its election immediately following such resolution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to <u>Section 6(b)(3)</u> hereof, the Independent Counsel shall be selected as provided in this <u>Section 6(c)</u>. The Independent Counsel shall be selected by the Board and written notice of such selection shall be given to Indemnitee. Indemnitee may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of "**Independent Counsel**" as defined in <u>Section 13</u> of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within twenty (20) days after submission by Indemnitee of a written request for indemnification pursuant to <u>Section 6(a)</u> hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court or other court of competent jurisdiction for resolution of any objection which shall have been made by the Indemnitee to the Company's selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under <u>Section 6(b)</u> hereof. The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to <u>Section 6(b)</u> hereof, and the Company shall pay all reasonable fees and expenses incident to the procedures of this <u>Section 6(c)</u>, regardless of the manner in which such Independent Counsel was selected or appointed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Indemnitee shall be deemed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Enterprise (as hereinafter defined), including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise. In addition, the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing provisions of this <u>Section 6(e)</u> are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) If the person, persons or entity empowered or selected under <u>Section 6</u> to determine whether Indemnitee is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making such determination with respect to entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto; and provided, further, that the foregoing provisions of this <u>Section 6(f)</u> shall not apply if the determination of entitlement to indemnification is to be made by the stockholders pursuant to <u>Section 6(b)</u> of this Agreement and if (A) within fifteen (15) days after receipt by the Company of the request for such determination, the Board or the Disinterested Directors, if appropriate, resolve to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within forty-five (45) days after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within fifteen (15) days after such receipt for the purpose of making such determination, such meeting is held for such purpose within thirty (30) days after having been so called and such determination is made thereat.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Indemnitee shall reasonably and in good faith cooperate with the person, persons or entity making such determination with respect to Indemnitee's entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any Independent Counsel, member of the Board or stockholder of the Company shall act reasonably and in good faith in making a determination regarding the Indemnitee's entitlement to indemnification under this Agreement. Any costs or expenses (including attorneys' fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee's entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to avoid expense, delay, distraction, disruption and uncertainty. In the event that any Proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such Proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of *nolo contendere* or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee's conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Remedies of Indemnitee</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;(a) If (i) a determination is made pursuant to <u>Section 6</u> of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to <u>Section 5</u> of this Agreement, (iii) no determination of entitlement to indemnification is made pursuant to <u>Section 6(b)</u> of this Agreement within the applicable period of time set forth in <u>Section 6(f)</u> after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within ten (10) days after receipt by the Company of a written request therefor, (v) payment of indemnification is not made within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to <u>Section 6</u> of this Agreement, or (vi) the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided hereunder, then Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction, of Indemnitee's entitlement to such indemnification. Unless otherwise agreed by the Company, Indemnitee shall commence such proceeding seeking an adjudication within one hundred eighty (180) days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this <u>Section 7(a)</u>. The Company shall not oppose Indemnitee's right to seek any such adjudication.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) In the event that a determination shall have been made pursuant to <u>Section 6(b)</u> of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to this <u>Section 7</u> shall be conducted in all respects as a de novo trial on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination under <u>Section 6(b)</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;(c) If a determination shall have been made pursuant to <u>Section 6(b)</u> of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this <u>Section 7</u>, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's misstatement not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) In the event that Indemnitee, pursuant to this <u>Section 7</u>, seeks a judicial adjudication of Indemnitee's rights under, or to recover damages for breach of, this Agreement, or to recover under any directors' and officers' liability insurance policies maintained by the Company, the Company shall pay on Indemnitee's behalf, in advance, any and all expenses (of the types described in the definition of Expenses in <u>Section 13</u> of this Agreement) actually and reasonably incurred by Indemnitee in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance recovery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) The Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this <u>Section 7</u> that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors' and officers' liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Non-Exclusivity; Survival of Rights; Insurance; Primacy of Indemnification; Subrogation</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;(a) The rights of indemnification as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Charter, the Bylaws, any agreement, vote of stockholders or resolution of directors of the Company, or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee's Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in the DGCL, whether by statute or judicial decision, permits greater indemnification than would be afforded currently under the Charter, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents or fiduciaries of the Company or of any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company's obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of expenses from such other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Exception to Right of Indemnification</u>. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity in connection with any claim made against Indemnitee:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of <u>Section 16(b)</u> of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation, (ii) the Proceeding is initiated by Indemnitee pursuant to Indemnitee's rights under <u>Section 7</u> of this Agreement, the Charter or Bylaws, or (iii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Duration of Agreement</u>. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of another corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise) and shall continue thereafter so long as Indemnitee shall be or may be subject to any Proceeding (or any proceeding commenced under <u>Section 7</u> hereof) by reason of Indemnitee's Corporate Status, whether or not Indemnitee is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Security</u>. To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company's obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of the Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Enforcement</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;(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it hereby in order to induce Indemnitee to serve as an officer and/or director of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as an officer and/or director 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; <u>provided</u>, <u>however</u>, that nothing in this Agreement shall affect any rights Indemnitee may have under the Charter or Bylaws or under applicable 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company shall not seek from a court, or agree to, a "bar order" which would have the effect of prohibiting or limiting the Indemnitee's rights to receive advancement of expenses 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;13. <u>Definitions</u>. 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;(a) "**Corporate Status**" describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company or of any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that such person is or was serving at the express written request 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Disinterested Director**" means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Enterprise**" shall mean the Company and any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the express written request of the Company as a director, officer, employee, agent or fiduciary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Expenses**" shall include all reasonable attorneys' fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding, or responding to, or objecting to, a request to provide discovery in any Proceeding. Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding and any federal, state, local or foreign taxes imposed on the Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, including without limitation the premium, security for, and other costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) "**Independent Counsel**" means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "**Independent Counsel**" shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, 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;&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) "**Proceeding**" includes any threatened, pending or completed action, claim, issue, matter, demand, discovery request, subpoena, hearing, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise and whether civil, criminal, regulatory, administrative or investigative, or any other type whatsoever, including any appeal of the foregoing, in which Indemnitee was, is or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company, by reason of any action taken by Indemnitee or of any inaction on Indemnitee's part while acting as an officer or director of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company (or by reason of any action taken by Indemnitee or any inaction on Indemnitee's part while acting) as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise; in each case whether or not Indemnitee is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement; including one pending on or before the date of this Agreement, but excluding one initiated by an Indemnitee pursuant to <u>Section 7</u> of this Agreement to enforce Indemnitee's rights 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;14. <u>Severability</u>. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision shall be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Modification and Waiver</u>. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Notice By Indemnitee</u>. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially prejudices 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;17. <u>Notices</u>. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Indemnitee at the address set forth below Indemnitee signature hereto.

 

*With a copy, which shall not constitute notice, to*:

Ellenoff, Grossman & Schole LLP

1345 Avenue of the Americas, 11<sup>th</sup> Floor

New York, NY 10105

Attention: Richard Anslow, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the Company at:

T1V, Inc.

5025 West W.T. Harris Boulevard, Suite A

Charlotte, NC 28269

Attention: Chief Executive Officer

or to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>Counterparts</u>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile or other electronically transmitted signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>Headings</u>. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction 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;20. <u>Governing Law and Consent to Jurisdiction.</u> This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Chancery Court of the State of Delaware (the "**Delaware Court**"), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

**[Signature Page Follows]**

**T1V, INC.**

**INDEMNIFICATION AGREEMENT**

**IN WITNESS WHEREOF**, the parties hereto have executed this Indemnification Agreement on and as of the day and year first above written.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| **T1V, Inc.** | **T1V, Inc.** |
| By: |  |
| Name: | Michael Feldman |
| Title: | Chief Executive Officer |
| **INDEMNITEE:** | **INDEMNITEE:** |
| Name: |  |
| Address: | Address: |

---

T1V, Inc. Indemnification Agreement – Signature Page

## Exhibit 10.6

**Exhibit 10.6**

**T1 VISIONS, INC.**

**2014 STOCK INCENTIVE PLAN**

1. <u>Purpose</u> 

The purpose of this 2014 Stock Incentive Plan (the "**Plan**") of T1 Visions, Inc., a Delaware corporation (the "**Company**"), is to advance the interests of the Company's stockholders by enhancing the Company's ability to attract, retain and motivate persons who are expected to make important contributions to the Company and by providing such persons with equity ownership opportunities and performance-based incentives that are intended to align their interests with those of the Company's stockholders. Except where the context otherwise requires, the term "**Company**" includes the Company's present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the "**Code**") and other business ventures (including, without limitation, any joint venture or limited liability company) in which the Company has a controlling interest, as determined by the Board of Directors of the Company (the "**Board**").

2. <u>Eligibility</u> 

All of the Company's employees, officers, directors, and individual consultants and advisors (each a "**Service Provider**") are eligible to receive options, restricted stock, restricted stock units and other stock-based awards (each, an "**Award**") under the Plan. Each person who receives an Award under the Plan is deemed a "**Participant**."

3. <u>Administration and Delegation</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Administration by Board of Directors</u>. The Plan shall be administered by the Board. The Board shall have authority to grant Awards and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable. The Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge of such expediency. All decisions by the Board shall be made in the Board's sole discretion and shall be final and binding on all persons having or claiming any interest in the Plan or in any Award. No director or person acting pursuant to the authority delegated by the Board shall be liable for any action or determination relating to or under the Plan made in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Appointment of Committees</u>. To the extent permitted by applicable law, the Board may delegate any or all of its powers under the Plan to one or more committees or subcommittees of the Board (a "**Committee**"). All references in the Plan to the "**Board**" shall mean the Board or a Committee of the Board to the extent that the Board's powers or authority under the Plan have been delegated to such Committee.

4. <u>Stock Available for Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to adjustment under Section 8, Awards may be made under the Plan for up to 5,923 shares of the common stock of the Company, $0.001 par value per share (the "**Common Stock**"). If any Award expires or is terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of shares of Common Stock subject to such Award being repurchased by the Company at the original issuance price pursuant to a contractual repurchase right) or results in any Common Stock not being issued, the unused Common Stock covered by such Award shall again be available for the grant of Awards under the Plan. Further, shares of Common Stock tendered to the Company by a Participant to exercise an Award shall be added to the number of shares of Common Stock available for the grant of Awards under the Plan. However, in the case of Incentive Stock Options (as hereinafter defined), the foregoing provisions shall be subject to any limitations under the Code. Shares issued under the Plan may consist in whole or in part of authorized but unissued shares or treasury shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Substitute Awards</u>. In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company of property or stock of an entity, the Board may grant Awards in substitution for any options or other stock or stock-based awards granted by such entity or an affiliate thereof. Substitute Awards may be granted on such terms as the Board deems appropriate in the circumstances, notwithstanding any limitations on Awards contained in the Plan. Substitute Awards shall not count against the overall share limit set forth in Section 4(a), except as may be required by reason of Section 422 and related provisions of the Code.

5. <u>Stock Options</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. The Board may grant options to purchase Common Stock (each, an "**Option**") and determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of each Option, including conditions relating to applicable federal or state securities laws, as it considers necessary or advisable. An Option, or portion of an Option, which is not intended to be or fails to qualify as an Incentive Stock Option (as hereinafter defined) shall be designated a "**Nonstatutory Stock Option.**"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Incentive Stock Options</u>. An Option that the Board intends to be an "incentive stock option" as defined in Section 422 of the Code (an "**Incentive Stock Option**") shall only be granted to employees of the Company and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code. A Participant who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company shall not be eligible for the grant of an Incentive Stock Option unless (i) the exercise price is at least 110% of the Fair Market Value (as defined below) on the date the Option is granted and (ii) such Incentive Stock Option by its terms is not exercisable after the expiration of five years from the date the Option is granted. The Company shall have no liability to a Participant, or any other party, if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock Option or for any action taken by the Board pursuant to Section 9(f), including without limitation the conversion of an Incentive Stock Option to a Nonstatutory Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Exercise Price</u>. The Board shall establish the exercise price of each Option and specify such exercise price in the applicable option agreement. The exercise price shall be not less than 100% of the Fair Market Value on the date the Option is granted unless the Board specifically determines that the exercise price is intended to be less than such Fair Market Value, in which case the option agreement shall contain provisions complying with Section 409A of the Code; provided that if the Board approves the grant of an Option with an exercise price to be determined on a future date, the exercise price shall be not less than 100% of the Fair Market Value on such future date. The term "**Fair Market Value**" shall mean, as of a given date: (i) if the Common Stock is listed on a national securities exchange, the last sale price of the Common Stock in the principal trading market for the Common Stock on such date; (ii) if the Common Stock is not listed on a national securities exchange, but is traded in the over-the counter market, the closing bid price for the Common Stock on such date, as reported by the OTC Bulletin Board or the National Quotation Bureau, Incorporated or similar publisher of such quotations; or (iii) if the Common Stock is not listed on a national securities exchange or traded in the over-the-counter market, such price as shall be determined by (or in a manner approved by) the Board in good faith and in compliance with applicable provisions of the Code and the regulations issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Duration of Options</u>. Each Option shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable option agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Exercise of Option</u>. Options may be exercised by delivery to the Company of a written notice of exercise signed by the proper person or by any other form of notice (including electronic notice) approved by the Board together with payment in full as specified in Section 5(f) for the number of shares of Common Stock for which the Option is exercised. Shares of Common Stock subject to the Option will be delivered by the Company following exercise either as soon as practicable or, subject to such conditions as the Board shall specify, on a deferred basis (with the Company's obligation to be evidenced by an instrument providing for future delivery of the deferred shares at the time or times specified by the Board).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Payment Upon Exercise.</u> Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for 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;(1) in cash or by check, payable to the order 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;(2) except as may otherwise be provided in the applicable option agreement, by (i) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding;

&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) when the Common Stock is registered under the Securities Exchange Act of 1934, as amended (the "**Exchange Act**") and to the extent provided for in the applicable option agreement or approved by the Board, in its sole discretion, by delivery (either by actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their Fair Market Value, provided (i) such method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly from the Company, was owned by the Participant for such minimum period of time, if any, as may be established by the Board in its discretion and (iii) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

&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) to the extent permitted by applicable law and provided for in the applicable option agreement or approved by the Board, in its sole discretion, by (i) delivery of a promissory note of the Participant to the Company on terms determined by the Board, or (ii) payment of such other lawful consideration as the Board may determine; 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;(5) by any combination of the above permitted forms of payment.

6. <u>Restricted Stock; Restricted Stock Units</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. The Board may grant Awards entitling recipients to acquire shares of Common Stock ("**Restricted Stock**"), subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by the Board in the applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by the Board for such Award. Instead of granting Awards for Restricted Stock, the Board may grant Awards entitling the recipient to receive shares of Common Stock to be delivered at the time such shares of Common Stock vest ("**Restricted Stock Units**") (Restricted Stock and Restricted Stock Units are each referred to herein as a "**Restricted Stock Award**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Terms and Conditions</u>. The Board shall determine the terms and conditions of a Restricted Stock Award, including the conditions for repurchase (or forfeiture) and the issue price, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Additional Provisions Relating to Restricted Stock.</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>Dividends</u>. Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect to such shares, unless otherwise provided by the Board. If any such dividends or distributions are paid in shares, or consist of a dividend or distribution to holders of Common Stock other than an ordinary cash dividend, the shares, cash or other property will be subject to the same restrictions on transferability and forfeitability as the shares of Restricted Stock with respect to which they were paid. Each dividend payment will be made no later than the end of the calendar year in which the dividends are paid to stockholders of that class of stock or, if later, the 15th day of the third month following the date the dividends are paid to stockholders of that class of 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;(2) <u>Stock Certificates</u>. The Company may require that any stock certificates issued in respect of a Restricted Stock Award shall be registered in the name of the Participant and be deposited by the Participant, together with a stock power endorsed in blank, with the Company (or its designee). After the expiration of the applicable restriction periods, upon request of a Participant or as otherwise determined by the Company, the Company (or such designee) shall deliver the certificates no longer subject to such restrictions to the Participant or if the Participant has died, to the beneficiary designated, in a manner determined by the Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant's death (the "**Designated Beneficiary**"). In the absence of an effective designation by a Participant, "Designated Beneficiary" shall mean the Participant's then living spouse, or, if none, the Participant's estate.

7. <u>Other Stock-Based Awards</u> 

Other Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based on, shares of Common Stock or other property, may be granted hereunder to Participants ("**Other Stock-Based Awards**"), including without limitation stock appreciation rights and Awards entitling recipients to receive shares of Common Stock to be delivered in the future. Such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the Plan or as payment in lieu of compensation to which a Participant is otherwise entitled. Other Stock-Based Awards may be paid in shares of Common Stock or cash, as the Board shall determine. Subject to the provisions of the Plan, the Board shall determine the conditions of each Other Stock-Based Award, including any purchase price applicable thereto.

8. <u>Adjustments for Changes in Common Stock and Certain Other Events</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Changes in Capitalization</u>. In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock other than an ordinary cash dividend, (i) the number and class of securities available under this Plan, (ii) the number and class of securities and exercise price per share of each outstanding Option, (iii) the number of shares subject to and the repurchase price per share subject to each outstanding Restricted Stock Award, and (iv) the terms of each other outstanding Award shall be equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Board. Without limiting the generality of the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend and the exercise price of and the number of shares subject to an outstanding Option are adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend), then an optionee who exercises an Option between the record date and the distribution date for such stock dividend shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Change in 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;(1) <u>Definition</u>. Unless otherwise specifically provided in an Award agreement, a "**Change in Control**" shall be deemed to have occurred upon the first to occur of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 "person" (as such term is used in sections 13(d) and 14(d) of the Exchange Act) becoming a "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing either (A) more than a majority of the voting power of the then outstanding securities of the Company, or (B) more than a majority of the aggregate fair market value of the then outstanding securities of the Company; <u>provided</u>, <u>however</u>, that a Change in Control shall not be deemed to occur as a result of (x) a transaction in which the Company becomes a subsidiary of another corporation and in which the stockholders of the Company, immediately prior to the transaction, will beneficially own, immediately after the transaction, shares entitling such stockholders to more than majority of all votes to which all stockholders of the parent corporation would be entitled in the election of directors, or (y) a transaction in which the person acquires newly issued securities of the Company in exchange for an investment in 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;(ii) the consummation of either: (A) a merger, share exchange, consolidation or reorganization of the Company where the stockholders of the Company, immediately prior to the merger or consolidation, will not beneficially own, immediately after the merger, share exchange, consolidation or reorganization, shares entitling such stockholders to either (x) more than a majority of all votes to which all stockholders of the surviving corporation would be entitled in the election of directors, or (y) more than a majority of the aggregate fair market value of then outstanding securities of the Company; or (B) a sale or other disposition of all or substantially all of the assets 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;(2) <u>Consequences of a Change in Control on Awards Other than Restricted Stock Awards</u>. In connection with a Change in Control, the Board may take any one or more of the following actions as to all (or any portion of) outstanding Awards other than Restricted Stock Awards on such terms as the Board determines: (i) provide that Awards shall be assumed, or substantially equivalent Awards shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof) in compliance with the applicable provisions of the Code, including Code Sections 409A, 422 and 424, (ii) upon written notice to a Participant, provide that the Participant's unexercised Options or other unexercised Awards will terminate immediately prior to the consummation of such Change in Control unless exercised by the Participant within a specified period following the date of such notice, (iii) provide that outstanding Awards shall become exercisable, realizable or deliverable, or restrictions applicable to an Award shall lapse, in whole or in part prior to or upon such Change in Control, (iv) in the event of a Change in Control under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Change in Control (the "**Acquisition Price**"), make or provide for a cash payment to a Participant equal to the excess, if any, of (A) the Acquisition Price times the number of shares of Common Stock subject to the Participant's Options or other Awards (to the extent the exercise price does not exceed the Acquisition Price) less (B) the aggregate exercise price of all such outstanding Options or other Awards and any applicable tax withholdings, in exchange for the termination of such Options or other Awards, (v) provide that, in connection with a liquidation or dissolution of the Company, Awards shall convert into the right to receive liquidation proceeds (if applicable, net of the exercise price thereof) and (vi) any combination of the foregoing. In taking any of the actions permitted under this Section 8(b), the Board shall not be obligated by the Plan to treat all Awards, or all Awards of the same type, identically.

For purposes of clause (i) above, an Option shall be considered assumed if, following consummation of the Change in Control, the Option confers the right to purchase, for each share of Common Stock subject to the Option immediately prior to the consummation of the Change in Control, the consideration (whether cash, securities or other property) received as a result of the Change in Control by holders of Common Stock for each share of Common Stock held immediately prior to the consummation of the Change in Control (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); <u>provided</u>, <u>however</u>, that if the consideration received as a result of the Change in Control is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise of Options to consist solely of common stock of the acquiring or succeeding corporation (or an affiliate thereof) with equivalent in value (as determined by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Change in Control.

&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>Consequences of a Change in Control on Restricted Stock Awards</u>. Upon the occurrence of a Change in Control other than a liquidation or dissolution of the Company, the repurchase and other rights of the Company under each outstanding Restricted Stock Award shall inure to the benefit of the Company's successor and shall, unless the Board determines otherwise, apply to the cash, securities or other property which the Common Stock was converted into or exchanged for pursuant to such Change in Control in the same manner and to the same extent as they applied to the Common Stock subject to such Restricted Stock Award. Upon the occurrence of a Change in Control involving the liquidation or dissolution of the Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Stock Award or any other agreement between a Participant and the Company, all restrictions and conditions on all Restricted Stock Awards then outstanding shall automatically be deemed terminated or satisfied.

9. <u>General Provisions Applicable to Awards</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transferability of Awards</u>. Except as the Board may otherwise expressly determine or provide in an Award, Awards shall not be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock Option, pursuant to a qualified domestic relations order, and, during the life of the Participant, shall be exercisable only by the Participant. References to a Participant, to the extent relevant in the context, shall include references to authorized transferees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Documentation</u>. Unless otherwise expressly determined by the Board, each Incentive Stock Option shall be evidenced by a Notice of Incentive Stock Option and Incentive Stock Option Agreement substantially in the form attached as **<u>Exhibit A</u>**, each Nonstatutory Stock Option shall be evidenced by a Notice of Nonstatutory Stock Option and Nonstatutory Stock Option Agreement substantially in the form attached as **<u>Exhibit B</u>**, and each Restricted Stock Award shall be evidenced by a Summary of Restricted Stock Purchase and Restricted Stock Purchase Agreement substantially in the form attached as **<u>Exhibit C</u>**. Each Award may contain terms and conditions in addition to those set forth in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Board Discretion</u>. Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any other Award. The terms of each Award need not be identical, and the Board need not treat Participants uniformly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Termination of Status</u>. The Board shall determine the effect on an Award of the disability, death, termination of employment, authorized leave of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which, the Participant, or the Participant's legal representative, conservator, guardian or Designated Beneficiary, may exercise rights under the Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Withholding</u>. The Participant must satisfy all applicable federal, state, and local or other income and employment tax withholding obligations before the Company will deliver stock certificates or otherwise recognize ownership of Common Stock under an Award. The Company may decide to satisfy the withholding obligations through additional withholding on salary or wages. If the Company elects not to or cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required for withholding or have a broker tender to the Company cash equal to the withholding obligations. Payment of withholding obligations is due before the Company will issue any shares on exercise or release from forfeiture of an Award or, if the Company so requires, at the same time as is payment of the exercise price unless the Company determines otherwise. If provided for in an Award or approved by the Board in its sole discretion, a Participant may satisfy such tax obligations in whole or in part by delivery of shares of Common Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value; <u>provided</u>, <u>however</u>, except as otherwise provided by the Board, that the total tax withholding where stock is being used to satisfy such tax obligations cannot exceed the Company's minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). Shares surrendered to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Amendment of Award</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) The Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that the Participant's consent to such action shall be required unless the Board determines that the action, taking into account any related action, would not materially and adversely affect the Participant.

&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) The Board may, without stockholder approval, amend any outstanding Award granted under the Plan to provide an exercise price per share that is lower than the then-current exercise price per share of such outstanding Award provided that such amended exercise price is at least equal to the then-current Fair Market Value. The Board may also, without stockholder approval, cancel any outstanding award (whether or not granted under the Plan) and grant in substitution new Awards under the Plan covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of the cancelled award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Conditions on Delivery of Stock</u>. The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in the opinion of the Company's counsel, all other legal matters in connection with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable stock exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules, regulations or contracts of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Acceleration</u>. The Board may at any time provide that any Award shall become immediately exercisable in full or in part, free of some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may be.

10. <u>Miscellaneous</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Right To Employment or Other Status</u>. No person shall have any claim or right to be granted an Award, and the grant of an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan, except as expressly provided in the applicable Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Rights As Stockholder</u>. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming the record holder of such shares. Notwithstanding the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend or otherwise and the exercise price of and the number of shares subject to such Option are adjusted as of the effective date of the stock dividend or split (rather than as of the record date for such stock dividend or split), then an optionee who exercises an Option between the record date and the distribution date for such stock dividend or split shall be entitled to receive, on the distribution date, the stock dividend or split with respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend or split.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Effective Date and Term of Plan</u>. The Plan shall become effective on the date on which it is adopted by the Board. No Awards shall be granted under the Plan after the expiration of 10 years from the earlier of (i) the date on which the Plan was adopted by the Board or (ii) the date the Plan was approved by the Company's stockholders, but Awards previously granted may extend beyond that date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Amendment of Plan</u>. The Board may amend, suspend or terminate the Plan or any portion thereof at any time; <u>provided</u>, <u>however</u>, that if at any time the approval of the Company's stockholders is required as to any modification or amendment under Section 422 of the Code or any successor provision with respect to Incentive Stock Options, the Board may not effect such modification or amendment without such approval. Unless otherwise specified in the amendment, any amendment to the Plan adopted in accordance with this Section 10(d) shall apply to, and be binding on the holders of, all Awards outstanding under the Plan at the time the amendment is adopted, provided the Board determines that such amendment does not materially and adversely affect the rights of Participants under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Authorization of Sub-Plans</u>. The Board may from time to time establish one or more sub-plans under the Plan for purposes of satisfying applicable blue sky, securities or tax laws of various jurisdictions. The Board shall establish such sub-plans by adopting supplements to this Plan containing (i) such limitations on the Board's discretion under the Plan as the Board deems necessary or desirable or (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary or desirable. All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants in any jurisdiction which is not the subject of such supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Compliance with Code Section 409A</u>. It is intended that all Awards granted hereunder be either exempt from, or issued in compliance with, Code Section 409A. The Company shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with, Code Section 409A is not so exempt or compliant, or for any action taken by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Governing Law</u>. The provisions of the Plan and all Awards made hereunder shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North Carolina (without reference to conflict of law provisions), as to all other matters.

\* \* \* \* \* \* \* \*

**<u>EXHIBIT A</u>**

**Notice of Incentive Stock Option** 

**and**

**Incentive Stock Option Agreement**

**<u>EXHIBIT B</u>**

**Notice of Nonstatutory Stock Option**

**and**

**Nonstatutory Stock Option Agreement**

**<u>EXHIBIT C</u>**

**Summary of Restricted Stock Purchase and Restricted Stock**

**Purchase Agreement**

## Exhibit 10.7

**Exhibit 10.7**

**T1V, INC.**

**2019 STOCK INCENTIVE PLAN**

1. <u>Purpose</u> 

The purpose of this 2019 Stock Incentive Plan (the "**Plan**") of T1V, Inc., a Delaware corporation (the "**Company**"), is to advance the interests of the Company's stockholders by enhancing the Company's ability to attract, retain and motivate persons who are expected to make important contributions to the Company and by providing such persons with equity ownership opportunities and performance-based incentives that are intended to align their interests with those of the Company's stockholders. Except where the context otherwise requires, the term "**Company**" includes the Company's present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the "**Code**") and other business ventures (including, without limitation, any joint venture or limited liability company) in which the Company has a controlling interest, as determined by the Board of Directors of the Company (the "**Board**").

2. <u>Eligibility</u> 

All of the Company's employees, officers, directors, and individual consultants and advisors (each a "**Service Provider**") are eligible to receive options, restricted stock, restricted stock units and other stock-based awards (each, an "**Award**") under the Plan. Each person who receives an Award under the Plan is deemed a "**Participant**."

3. <u>Administration and Delegation</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Administration by Board of Directors</u>. The Plan shall be administered by the Board. The Board shall have authority to grant Awards and to adopt, amend and repeal such administrative rules, guidelines and practices relating to the Plan as it shall deem advisable. The Board may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Award in the manner and to the extent it shall deem expedient to carry the Plan into effect and it shall be the sole and final judge of such expediency. All decisions by the Board shall be made in the Board's sole discretion and shall be final and binding on all persons having or claiming any interest in the Plan or in any Award. No director or person acting pursuant to the authority delegated by the Board shall be liable for any action or determination relating to or under the Plan made in good faith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Appointment of Committees</u>. To the extent permitted by applicable law, the Board may delegate any or all of its powers under the Plan to one or more committees or subcommittees of the Board (a "**Committee**"). All references in the Plan to the "**Board**" shall mean the Board or a Committee of the Board to the extent that the Board's powers or authority under the Plan have been delegated to such Committee.

4. <u>Stock Available for Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to adjustment under Section 8, Awards may be made under the Plan for up to 7.155 shares of the common stock of the Company, $0.001 par value per share (the "**Common Stock**"). If any Award expires or is terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of shares of Common Stock subject to such Award being repurchased by the Company at the original issuance price pursuant to a contractual repurchase right) or results in any Common Stock not being issued, the unused Common Stock covered by such Award shall again be available for the grant of Awards under the Plan. Further, shares of Common Stock tendered to the Company by a Participant to exercise an Award shall be added to the number of shares of Common Stock available for the grant of Awards under the Plan. However, in the case of Incentive Stock Options (as hereinafter defined), the foregoing provisions shall be subject to any limitations under the Code. Shares issued under the Plan may consist in whole or in part of authorized but unissued shares or treasury shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Substitute Awards</u>. In connection with a merger or consolidation of an entity with the Company or the acquisition by the Company of property or stock of an entity, the Board may grant Awards in substitution for any options or other stock or stock-based awards granted by such entity or an affiliate thereof. Substitute Awards may be granted on such terms as the Board deems appropriate in the circumstances, notwithstanding any limitations on Awards contained in the Plan. Substitute Awards shall not count against the overall share limit set forth in Section 4(a), except as may be required by reason of Section 422 and related provisions of the Code.

5. <u>Stock Options</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. The Board may grant options to purchase Common Stock (each, an "**Option**") and determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of each Option, including conditions relating to applicable federal or state securities laws, as it considers necessary or advisable. An Option, or portion of an Option, which is not intended to be or fails to qualify as an Incentive Stock Option (as hereinafter defined) shall be designated a "**Nonstatutory Stock Option.**"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Incentive Stock Options</u>. An Option that the Board intends to be an "incentive stock option" as defined in Section 422 of the Code (an "**Incentive Stock Option**") shall only be granted to employees of the Company and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code. A Participant who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company shall not be eligible for the grant of an Incentive Stock Option unless (i) the exercise price is at least 110% of the Fair Market Value (as defined below) on the date the Option is granted and (ii) such Incentive Stock Option by its terms is not exercisable after the expiration of five years from the date the Option is granted. The Company shall have no liability to a Participant, or any other party, if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not an Incentive Stock Option or for any action taken by the Board pursuant to Section 9(f), including without limitation the conversion of an Incentive Stock Option to a Nonstatutory Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Exercise Price</u>. The Board shall establish the exercise price of each Option and specify such exercise price in the applicable option agreement. The exercise price shall be not less than 100% of the Fair Market Value on the date the Option is granted unless the Board specifically determines that the exercise price is intended to be less than such Fair Market Value, in which case the option agreement shall contain provisions complying with Section 409A of the Code; provided that if the Board approves the grant of an Option with an exercise price to be determined on a future date, the exercise price shall be not less than 100% of the Fair Market Value on such future date. The term "**Fair Market Value**" shall mean, as of a given date: (i) if the Common Stock is listed on a national securities exchange, the last sale price of the Common Stock in the principal trading market for the Common Stock on such date; (ii) if the Common Stock is not listed on a national securities exchange, but is traded in the over-the counter market, the closing bid price for the Common Stock on such date, as reported by the OTC Bulletin Board or the National Quotation Bureau, Incorporated or similar publisher of such quotations; or (iii) if the Common Stock is not listed on a national securities exchange or traded in the over-the-counter market, such price as shall be determined by (or in a manner approved by) the Board in good faith and in compliance with applicable provisions of the Code and the regulations issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Duration of Options</u>. Each Option shall be exercisable at such times and subject to such terms and conditions as the Board may specify in the applicable option agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Exercise of Option</u>. Options may be exercised by delivery to the Company of a written notice of exercise signed by the proper person or by any other form of notice (including electronic notice) approved by the Board together with payment in full as specified in Section 5(f) for the number of shares of Common Stock for which the Option is exercised. Shares of Common Stock subject to the Option will be delivered by the Company following exercise either as soon as practicable or, subject to such conditions as the Board shall specify, on a deferred basis (with the Company's obligation to be evidenced by an instrument providing for future delivery of the deferred shares at the time or times specified by the Board).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Payment Upon Exercise.</u> Common Stock purchased upon the exercise of an Option granted under the Plan shall be paid for 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;(1) in cash or by check, payable to the order 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;(2) except as may otherwise be provided in the applicable option agreement, by (i) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding or (ii) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price and any required tax withholding;

&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) when the Common Stock is registered under the Securities Exchange Act of 1934, as amended (the "**Exchange Act**") and to the extent provided for in the applicable option agreement or approved by the Board, in its sole discretion, by delivery (either by actual delivery or attestation) of shares of Common Stock owned by the Participant valued at their Fair Market Value, provided (i) such method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly from the Company, was owned by the Participant for such minimum period of time, if any, as may be established by the Board in its discretion and (iii) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

&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) to the extent permitted by applicable law and provided for in the applicable option agreement or approved by the Board, in its sole discretion, by (i) delivery of a promissory note of the Participant to the Company on terms determined by the Board, or (ii) payment of such other lawful consideration as the Board may determine; 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;(5) by any combination of the above permitted forms of payment.

6. <u>Restricted Stock; Restricted Stock Units</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. The Board may grant Awards entitling recipients to acquire shares of Common Stock ("**Restricted Stock**"), subject to the right of the Company to repurchase all or part of such shares at their issue price or other stated or formula price (or to require forfeiture of such shares if issued at no cost) from the recipient in the event that conditions specified by the Board in the applicable Award are not satisfied prior to the end of the applicable restriction period or periods established by the Board for such Award. Instead of granting Awards for Restricted Stock, the Board may grant Awards entitling the recipient to receive shares of Common Stock to be delivered at the time such shares of Common Stock vest ("**Restricted Stock Units**") (Restricted Stock and Restricted Stock Units are each referred to herein as a "**Restricted Stock Award**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Terms and Conditions</u>. The Board shall determine the terms and conditions of a Restricted Stock Award, including the conditions for repurchase (or forfeiture) and the issue price, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Additional Provisions Relating to Restricted Stock.</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>Dividends</u>. Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect to such shares, unless otherwise provided by the Board. If any such dividends or distributions are paid in shares, or consist of a dividend or distribution to holders of Common Stock other than an ordinary cash dividend, the shares, cash or other property will be subject to the same restrictions on transferability and forfeitability as the shares of Restricted Stock with respect to which they were paid. Each dividend payment will be made no later than the end of the calendar year in which the dividends are paid to stockholders of that class of stock or, if later, the 15th day of the third month following the date the dividends are paid to stockholders of that class of 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;(2) <u>Stock Certificates</u>. The Company may require that any stock certificates issued in respect of a Restricted Stock Award shall be registered in the name of the Participant and be deposited by the Participant, together with a stock power endorsed in blank, with the Company (or its designee). After the expiration of the applicable restriction periods, upon request of a Participant or as otherwise determined by the Company, the Company (or such designee) shall deliver the certificates no longer subject to such restrictions to the Participant or if the Participant has died, to the beneficiary designated, in a manner determined by the Board, by a Participant to receive amounts due or exercise rights of the Participant in the event of the Participant's death (the "**Designated Beneficiary**"). In the absence of an effective designation by a Participant, "Designated Beneficiary" shall mean the Participant's then living spouse, or, if none, the Participant's estate.

7. <u>Other Stock-Based Awards</u> 

Other Awards of shares of Common Stock, and other Awards that are valued in whole or in part by reference to, or are otherwise based on, shares of Common Stock or other property, may be granted hereunder to Participants ("**Other Stock-Based Awards**"), including without limitation stock appreciation rights and Awards entitling recipients to receive shares of Common Stock to be delivered in the future. Such Other Stock-Based Awards shall also be available as a form of payment in the settlement of other Awards granted under the Plan or as payment in lieu of compensation to which a Participant is otherwise entitled. Other Stock-Based Awards may be paid in shares of Common Stock or cash, as the Board shall determine. Subject to the provisions of the Plan, the Board shall determine the conditions of each Other Stock-Based Award, including any purchase price applicable thereto.

8. <u>Adjustments for Changes in Common Stock and Certain Other Events</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Changes in Capitalization</u>. In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock other than an ordinary cash dividend, (i) the number and class of securities available under this Plan, (ii) the number and class of securities and exercise price per share of each outstanding Option, (iii) the number of shares subject to and the repurchase price per share subject to each outstanding Restricted Stock Award, and (iv) the terms of each other outstanding Award shall be equitably adjusted by the Company (or substituted Awards may be made, if applicable) in the manner determined by the Board. Without limiting the generality of the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend and the exercise price of and the number of shares subject to an outstanding Option are adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend), then an optionee who exercises an Option between the record date and the distribution date for such stock dividend shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Change in 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;(1) <u>Definition</u>. Unless otherwise specifically provided in an Award agreement, a "**Change in Control**" shall be deemed to have occurred upon the first to occur of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 "person" (as such term is used in sections 13(d) and 14(d) of the Exchange Act) becoming a "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing either (A) more than a majority of the voting power of the then outstanding securities of the Company, or (B) more than a majority of the aggregate fair market value of the then outstanding securities of the Company; <u>provided</u>, <u>however</u>, that a Change in Control shall not be deemed to occur as a result of (x) a transaction in which the Company becomes a subsidiary of another corporation and in which the stockholders of the Company, immediately prior to the transaction, will beneficially own, immediately after the transaction, shares entitling such stockholders to more than majority of all votes to which all stockholders of the parent corporation would be entitled in the election of directors, or (y) a transaction in which the person acquires newly issued securities of the Company in exchange for an investment in 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;(ii) the consummation of either: (A) a merger, share exchange, consolidation or reorganization of the Company where the stockholders of the Company, immediately prior to the merger or consolidation, will not beneficially own, immediately after the merger, share exchange, consolidation or reorganization, shares entitling such stockholders to either (x) more than a majority of all votes to which all stockholders of the surviving corporation would be entitled in the election of directors, or (y) more than a majority of the aggregate fair market value of then outstanding securities of the Company; or (B) a sale or other disposition of all or substantially all of the assets 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;(2) <u>Consequences of a Change in Control on Awards Other than Restricted Stock Awards</u>. In connection with a Change in Control, the Board may take any one or more of the following actions as to all (or any portion of) outstanding Awards other than Restricted Stock Awards on such terms as the Board determines: (i) provide that Awards shall be assumed, or substantially equivalent Awards shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof) in compliance with the applicable provisions of the Code, including Code Sections 409A, 422 and 424, (ii) upon written notice to a Participant, provide that the Participant's unexercised Options or other unexercised Awards will terminate immediately prior to the consummation of such Change in Control unless exercised by the Participant within a specified period following the date of such notice, (iii) provide that outstanding Awards shall become exercisable, realizable or deliverable, or restrictions applicable to an Award shall lapse, in whole or in part prior to or upon such Change in Control, (iv) in the event of a Change in Control under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Change in Control (the "**Acquisition Price**"), make or provide for a cash payment to a Participant equal to the excess, if any, of (A) the Acquisition Price times the number of shares of Common Stock subject to the Participant's Options or other Awards (to the extent the exercise price does not exceed the Acquisition Price) less (B) the aggregate exercise price of all such outstanding Options or other Awards and any applicable tax withholdings, in exchange for the termination of such Options or other Awards, (v) provide that, in connection with a liquidation or dissolution of the Company, Awards shall convert into the right to receive liquidation proceeds (if applicable, net of the exercise price thereof) and (vi) any combination of the foregoing. In taking any of the actions permitted under this Section 8(b), the Board shall not be obligated by the Plan to treat all Awards, or all Awards of the same type, identically.

For purposes of clause (i) above, an Option shall be considered assumed if, following consummation of the Change in Control, the Option confers the right to purchase, for each share of Common Stock subject to the Option immediately prior to the consummation of the Change in Control, the consideration (whether cash, securities or other property) received as a result of the Change in Control by holders of Common Stock for each share of Common Stock held immediately prior to the consummation of the Change in Control (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); <u>provided</u>, <u>however</u>, that if the consideration received as a result of the Change in Control is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the exercise of Options to consist solely of common stock of the acquiring or succeeding corporation (or an affiliate thereof) with equivalent in value (as determined by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Change in Control.

&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>Consequences of a Change in Control on Restricted Stock Awards</u>. Upon the occurrence of a Change in Control other than a liquidation or dissolution of the Company, the repurchase and other rights of the Company under each outstanding Restricted Stock Award shall inure to the benefit of the Company's successor and shall, unless the Board determines otherwise, apply to the cash, securities or other property which the Common Stock was converted into or exchanged for pursuant to such Change in Control in the same manner and to the same extent as they applied to the Common Stock subject to such Restricted Stock Award. Upon the occurrence of a Change in Control involving the liquidation or dissolution of the Company, except to the extent specifically provided to the contrary in the instrument evidencing any Restricted Stock Award or any other agreement between a Participant and the Company, all restrictions and conditions on all Restricted Stock Awards then outstanding shall automatically be deemed terminated or satisfied.

9. <u>General Provisions Applicable to Awards</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transferability of Awards</u>. Except as the Board may otherwise expressly determine or provide in an Award, Awards shall not be sold, assigned, transferred, pledged or otherwise encumbered by the person to whom they are granted, either voluntarily or by operation of law, except by will or the laws of descent and distribution or, other than in the case of an Incentive Stock Option, pursuant to a qualified domestic relations order, and, during the life of the Participant, shall be exercisable only by the Participant. References to a Participant, to the extent relevant in the context, shall include references to authorized transferees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Documentation</u>. Unless otherwise expressly determined by the Board, each Incentive Stock Option shall be evidenced by a Notice of Incentive Stock Option and Incentive Stock Option Agreement substantially in the form attached as **<u>Exhibit A</u>**, each Nonstatutory Stock Option shall be evidenced by a Notice of Nonstatutory Stock Option and Nonstatutory Stock Option Agreement substantially in the form attached as **<u>Exhibit B</u>**, and each Restricted Stock Award shall be evidenced by a Summary of Restricted Stock Purchase and Restricted Stock Purchase Agreement substantially in the form attached as **<u>Exhibit C</u>**. Each Award may contain terms and conditions in addition to those set forth in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Board Discretion</u>. Except as otherwise provided by the Plan, each Award may be made alone or in addition or in relation to any other Award. The terms of each Award need not be identical, and the Board need not treat Participants uniformly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Termination of Status</u>. The Board shall determine the effect on an Award of the disability, death, termination of employment, authorized leave of absence or other change in the employment or other status of a Participant and the extent to which, and the period during which, the Participant, or the Participant's legal representative, conservator, guardian or Designated Beneficiary, may exercise rights under the Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Withholding</u>. The Participant must satisfy all applicable federal, state, and local or other income and employment tax withholding obligations before the Company will deliver stock certificates or otherwise recognize ownership of Common Stock under an Award. The Company may decide to satisfy the withholding obligations through additional withholding on salary or wages. If the Company elects not to or cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required for withholding or have a broker tender to the Company cash equal to the withholding obligations. Payment of withholding obligations is due before the Company will issue any shares on exercise or release from forfeiture of an Award or, if the Company so requires, at the same time as is payment of the exercise price unless the Company determines otherwise. If provided for in an Award or approved by the Board in its sole discretion, a Participant may satisfy such tax obligations in whole or in part by delivery of shares of Common Stock, including shares retained from the Award creating the tax obligation, valued at their Fair Market Value; <u>provided</u>, <u>however</u>, except as otherwise provided by the Board, that the total tax withholding where stock is being used to satisfy such tax obligations cannot exceed the Company's minimum statutory withholding obligations (based on minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to such supplemental taxable income). Shares surrendered to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Amendment of Award</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) The Board may amend, modify or terminate any outstanding Award, including but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that the Participant's consent to such action shall be required unless the Board determines that the action, taking into account any related action, would not materially and adversely affect the Participant.

&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) The Board may, without stockholder approval, amend any outstanding Award granted under the Plan to provide an exercise price per share that is lower than the then-current exercise price per share of such outstanding Award provided that such amended exercise price is at least equal to the then-current Fair Market Value. The Board may also, without stockholder approval, cancel any outstanding award (whether or not granted under the Plan) and grant in substitution new Awards under the Plan covering the same or a different number of shares of Common Stock and having an exercise price per share lower than the then-current exercise price per share of the cancelled award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Conditions on Delivery of Stock</u>. The Company will not be obligated to deliver any shares of Common Stock pursuant to the Plan or to remove restrictions from shares previously delivered under the Plan until (i) all conditions of the Award have been met or removed to the satisfaction of the Company, (ii) in the opinion of the Company's counsel, all other legal matters in connection with the issuance and delivery of such shares have been satisfied, including any applicable securities laws and any applicable stock exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations or agreements as the Company may consider appropriate to satisfy the requirements of any applicable laws, rules, regulations or contracts of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Acceleration</u>. The Board may at any time provide that any Award shall become immediately exercisable in full or in part, free of some or all restrictions or conditions, or otherwise realizable in full or in part, as the case may be.

10. <u>Miscellaneous</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>No Right To Employment or Other Status</u>. No person shall have any claim or right to be granted an Award, and the grant of an Award shall not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan, except as expressly provided in the applicable Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Rights As Stockholder</u>. Subject to the provisions of the applicable Award, no Participant or Designated Beneficiary shall have any rights as a stockholder with respect to any shares of Common Stock to be distributed with respect to an Award until becoming the record holder of such shares. Notwithstanding the foregoing, in the event the Company effects a split of the Common Stock by means of a stock dividend or otherwise and the exercise price of and the number of shares subject to such Option are adjusted as of the effective date of the stock dividend or split (rather than as of the record date for such stock dividend or split), then an optionee who exercises an Option between the record date and the distribution date for such stock dividend or split shall be entitled to receive, on the distribution date, the stock dividend or split with respect to the shares of Common Stock acquired upon such Option exercise, notwithstanding the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend or split.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Effective Date and Term of Plan</u>. The Plan shall become effective on the date on which it is adopted by the Board. No Awards shall be granted under the Plan after the expiration of 10 years from the earlier of (i) the date on which the Plan was adopted by the Board or (ii) the date the Plan was approved by the Company's stockholders, but Awards previously granted may extend beyond that date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Amendment of Plan</u>. The Board may amend, suspend or terminate the Plan or any portion thereof at any time; <u>provided</u>, <u>however</u>, that if at any time the approval of the Company's stockholders is required as to any modification or amendment under Section 422 of the Code or any successor provision with respect to Incentive Stock Options, the Board may not effect such modification or amendment without such approval. Unless otherwise specified in the amendment, any amendment to the Plan adopted in accordance with this Section 10(d) shall apply to, and be binding on the holders of, all Awards outstanding under the Plan at the time the amendment is adopted, provided the Board determines that such amendment does not materially and adversely affect the rights of Participants under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Authorization of Sub-Plans</u>. The Board may from time to time establish one or more sub- plans under the Plan for purposes of satisfying applicable blue sky, securities or tax laws of various jurisdictions. The Board shall establish such sub-plans by adopting supplements to this Plan containing (i) such limitations on the Board's discretion under the Plan as the Board deems necessary or desirable or (ii) such additional terms and conditions not otherwise inconsistent with the Plan as the Board shall deem necessary or desirable. All supplements adopted by the Board shall be deemed to be part of the Plan, but each supplement shall apply only to Participants within the affected jurisdiction and the Company shall not be required to provide copies of any supplement to Participants in any jurisdiction which is not the subject of such supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Compliance with Code Section 409A</u>. It is intended that all Awards granted hereunder be either exempt from, or issued in compliance with, Code Section 409A. The Company shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with, Code Section 409A is not so exempt or compliant, or for any action taken by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Governing Law</u>. The provisions of the Plan and all Awards made hereunder shall be governed by and construed in accordance with the General Corporation Law of the State of Delaware, as to matters within the scope thereof, and the internal laws of the State of North Carolina (without reference to conflict of law provisions), as to all other matters.

\* \* \* \* \* \* \* \*

**<u>EXHIBIT A</u>**

**Notice of Incentive Stock Option <br> and**

**Incentive Stock Option Agreement**

**<u>EXHIBIT B</u>**

**Notice of Nonstatutory Stock Option <br> and**

**Nonstatutory Stock Option Agreement**

**<u>EXHIBIT C</u>**

**Summary of Restricted Stock Purchase and Restricted Stock <br> Purchase Agreement**

## Exhibit 10.8

**Exhibit 10.8**

**T1V, Inc.**

**2023 EQUITY INCENTIVE PLAN**

1. <u>Purpose</u>. The purposes of this Plan are to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) attract, retain, and motivate Employees, Directors, and Consultants,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) provide additional incentives to Employees, Directors, and Consultants, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) promote the success of the Company's business,

by providing Employees, Directors, and Consultants with opportunities to acquire the Company's Shares, or to receive monetary payments based on the value of such Shares. Additionally, the Plan is intended to assist in further aligning the interests of the Company's Employees, Directors, and Consultants to those of its shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Definitions</u>. As used herein, the following definitions will apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) " <u>Administrator</u> " means a committee of at least one Director of the Company as the Board may appoint to administer
this Plan or, if no such committee has been appointed by the Board, the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) " <u>Applicable Laws</u> " means the requirements relating to the administration of equity-based awards or equity compensation
plans under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which
the Shares are listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under
the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) " <u>Award</u> " means, individually or collectively, a grant under the Plan of Stock Options, Stock Appreciation Rights,
Restricted Stock, Restricted Stock Units, or Other Stock-Based Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) " <u>Award Agreement</u> " means the written or electronic agreement, consistent with the terms of the Plan, between the
Company and the Participant, setting forth the terms, conditions, and restrictions applicable to each Award granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) " <u>Board</u> " means the Company's Board of Directors, as constituted from time to time and, where the context so
requires, reference to the "Board" may refer to a committee to whom the Board has delegated authority to administer any aspect
of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) " <u>Cause</u> " shall have the meaning ascribed to such term, or term of similar effect, in any offer letter, employment,
consulting, severance, or similar agreement, including any Award Agreement, between the Participant and the Company or any Subsidiary;
provided, that in the absence of an offer letter, employment, consulting, severance, or similar agreement containing such definition,
"Cause" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any willful, material violation by the Participant of any law or regulation applicable to the business of the Company or any Subsidiary
or other affiliate of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Participant's conviction for, or guilty plea or plea of *nolo contendere* to, a felony (or crime of similar magnitude
under Applicable Laws outside the United States) or a crime involving moral turpitude, or any willful perpetration by the Participant
of a common law fraud, act of material dishonesty, or misappropriation or similar conduct against the Company or any Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Participant's commission of an act of personal dishonesty which involves personal profit in connection with the Company,
any Subsidiary, or any other entity having a business relationship with the Company or any Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any material breach or violation by the Participant of any provision of any agreement or understanding between the Company or any
Subsidiary or other affiliate of the Company and the Participant regarding the terms of the Participant's service as an Employee,
Director, or Consultant to the Company or any Subsidiary or other affiliate of the Company, including without limitation, the willful
and continued failure or refusal of the Participant to perform the material duties required of such Participant as an Employee, Director,
or Consultant of the Company or a Subsidiary or other affiliate of the Company, other than as a result of having a Disability, or a breach
of any applicable invention assignment, confidentiality, non-competition, non-solicitation, restrictive covenant, or similar agreement
between the Company or a Subsidiary or other affiliate of the Company and the Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Participant's violation of the code of ethics of the Company or any Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the Participant's disregard of the policies of the Company or any Subsidiary or other affiliate of the Company so as to cause
loss, harm, damage or injury to the property, reputation, or employees of the Company or a Subsidiary or other affiliate of the Company;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) any other misconduct by the Participant which is injurious to the financial condition or business reputation of, or is otherwise injurious
to, the Company or a Subsidiary or other affiliate of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) " <u>Change in Control</u> " means the occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the "beneficial owner"
(as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent
(50%) of the total voting power represented by the Company's then outstanding voting securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the consummation of the sale or disposition by the Company of all or substantially all of the Company's assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a change in the composition of the Board occurring within a two-year period, as a result of which fewer than a majority of the directors
are Incumbent Directors. "Incumbent Directors" means directors who either (A) are Directors as of the Effective Date, or (B)
are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the
time of such election or nomination (but will not include an individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of directors to the Company); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the consummation of 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 or its parent) at least fifty percent (50%) of the total
voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after
such merger or consolidation.

Notwithstanding the foregoing, a transaction shall not constitute a Change in Control if its sole purpose is to change the jurisdiction of the Company's incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before such transaction. In addition, if a Change in Control constitutes a payment event with respect to any Award which provides for a deferral of compensation and is subject to Code Section 409A, then notwithstanding anything to the contrary in the Plan or applicable Award Agreement, the transaction with respect to such Award must also constitute a "change in control event" as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Code Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) " <u>Code</u> " means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will
be a reference to any successor or amended section of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) " <u>Company</u> " means T1V, Inc., a Delaware corporation, or any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) " <u>Consultant</u> " means a consultant or adviser who provides *bona fide* services to the Company, its Parent, or
any Subsidiary as an independent contractor and who qualifies as a consultant or advisor under Instruction A.1.(a)(1) of Form S-8 under
the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) " <u>Director</u> " means a member of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) " <u>Disability</u> " means permanently and totally disabled as defined in Code Section 22(e)(3), provided that in the case
of an Award other than an Incentive Stock Option, the Administrator in its discretion may determine whether a Participant is permanently
and totally disabled in accordance with uniform and non-discriminatory standards adopted by the Administrator from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) " <u>Effective Date</u> " shall have the meaning set forth in Section 24.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) " <u>Employee</u> " means any person, including officers and Directors, employed by the Company, its Parent, or any Subsidiary.
Neither service as a Director nor payment of a director's fee by the Company will be sufficient to constitute "employment"
by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) " <u>Exchange Act</u> " means the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) " <u>Fair Market Value</u> " means, as of any date, the value of a Share, determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Shares are readily tradable on an established securities market, its Fair Market Value will be the closing sales price for
a Share (or the closing bid, if no sales were reported) as quoted on such market for the day of determination, as reported in <u>The Wall Street Journal</u> or such other source as the Administrator deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the Shares are regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value will
be the mean between the high bid and low asked prices for a Share for the day of determination, as reported in <u>The Wall Street Journal</u> or such other source as the Administrator deems reliable; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if the Shares are not readily tradable on an established securities market, the Fair Market Value will be determined in good faith
by the Administrator.

Notwithstanding the preceding, for federal, state, and local income tax reporting purposes, and for such other purposes as the Administrator deems appropriate, the Fair Market Value shall be determined by the Administrator in accordance with uniform and nondiscriminatory standards adopted by it from time to time. In addition, the determination of Fair Market Value in all cases shall be in accordance with the requirements set forth under Code Section 409A to the extent necessary for an Award to comply with, or be exempt from, Code Section 409A. The Administrator's determination shall be conclusive and binding on all persons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) " <u>Incentive Stock Option</u> " means a Stock Option intended to qualify as an incentive stock option within the meaning
of Code Section 422 and the regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) " <u>Non-Employee Director</u> " means a Director who is a "non-employee director" within the meaning of Exchange
Act Rule 16b-3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) " <u>Nonqualified Stock Option</u> " means a Stock Option that by its terms, or in operation, does not qualify or is not
intended to qualify as an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) " <u>Other Stock-Based Awards</u> " means any other awards not specifically described in the Plan that are valued, in whole

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) " <u>Parent</u> " means a "parent corporation," whether now or hereafter existing, as defined in Code Section
424(e).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) " <u>Participant</u> " means the holder of an outstanding Award granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) " <u>Period of Restriction</u> " means the period during which the transfer of Restricted Stock is subject to restrictions
and a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of certain performance criteria,
or the occurrence of other events as determined by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) " <u>Plan</u> " means this T1V, Inc. 2023 Equity Incentive Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) " <u>Restricted Stock</u> " means Shares, subject to a Period of Restriction or certain other specified restrictions (including,
without limitation, a requirement that the Participant remain continuously employed or provide continuous services for a specified period
of time), granted under Section 9 or issued pursuant to the early exercise of a Stock Option.

(z) " <u>Restricted Stock Unit</u> " or " <u>RSU</u> " means an unfunded and unsecured promise to deliver Shares,
cash, other securities, or other property, subject to certain restrictions (including, without limitation, a requirement that the Participant
remain continuously employed or provide continuous services for a specified period of time), granted under Section 10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) " <u>Service</u> " means service as a Service Provider. In the event of any dispute over whether and when Service has terminated,
the Administrator shall have sole discretion to determine whether such termination has occurred and the effective date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) " <u>Service Provider</u> " means an Employee, Director, or Consultant, including any prospective Employee, Director, or
Consultant who has accepted an offer of employment or service and will be an Employee, Director, or Consultant after the commencement
of their service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) " <u>Shares</u> " means the Company's shares of Class A common stock, par value of $0.001 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) " <u>Stock Appreciation Right</u> " or " <u>SAR</u> " means an Award pursuant to Section 8 that is designated
as a SAR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) " <u>Stock Option</u> " means an option granted pursuant to the Plan to purchase Shares, whether designated as an Incentive
Stock Option or a Nonqualified Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) " <u>Subsidiary</u> " means a "subsidiary corporation," whether now or hereafter existing, as defined in Code
Section 424(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Award Types</u>. The Plan permits the grant of Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
and Other Stock-Based Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Award Agreements</u>. Awards shall be evidenced by Award Agreements (which need not be identical) in such forms as the Administrator
may from time to time approve; <u>provided</u>, <u>however</u>, that in the event of any conflict between the provisions of the Plan and
any such Award Agreements, the provisions of the Plan shall prevail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Date of Grant</u>. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination
granting such Award, or such later date as is determined by the Administrator, consistent with Applicable Laws. Notice of the determination
will be provided to each Participant within a reasonable time after the date of such grant.

4. <u>Shares Available for Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Basic Limitation</u>. Subject to the provisions of Section 14, the maximum aggregate number of Shares that may be issued under
the Plan is 32,000 Shares (the " <u>Plan Share Limit</u> "). The Shares subject to the Plan may be authorized, but unissued,
or reacquired shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Awards Not Settled in Shares Delivered to Participant</u>. Upon payment in Shares pursuant to the exercise or settlement of an
Award, the number of Shares available for issuance under the Plan shall be reduced only by the number of Shares actually issued in such
payment. If a Participant pays the exercise price (or purchase price, if applicable) of an Award through the tender of Shares, or if the
Shares are tendered or withheld to satisfy any tax withholding obligations, the number of the Shares so tendered or withheld shall again
be available for issuance pursuant to future Awards under the Plan, although such Shares shall not again become available for issuance
as Incentive Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Cash-Settled Awards</u>. Shares shall not be deemed to have been issued pursuant to the Plan with respect to any portion of an
Award that is settled in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Lapsed Awards</u>. If any outstanding Award expires or is terminated or canceled without having been exercised or settled in full,
or if the Shares acquired pursuant to an Award subject to forfeiture or repurchase are forfeited or repurchased by the Company, the Shares
allocable to the terminated portion of such Award or such forfeited or repurchased Shares shall again be available for grant under the
Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Code Section 422 Limitations</u>. No more than 32,000 Shares (subject to adjustment pursuant to Section 14) may be issued under
the Plan upon the exercise of Incentive Stock Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Non-Employee Director Award Limit</u>. Notwithstanding any provision to the contrary in the Plan or in any policy of the Company
regarding Non-Employee Director compensation, the sum of the grant date fair value (determined as of the grant date in accordance with
Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto) of all equity-based Awards
and the maximum amount that may become payable pursuant to all cash-based Awards that may be granted to a Service Provider as compensation
for services as a Non-Employee Director during any calendar year shall not exceed $750,000 for such Service Provider's first year
of service as a Non-Employee Director and $500,000 for each year thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Share Reserve</u>. The Company, during the term of the Plan, shall at all times keep available such number of Shares authorized
for issuance as will be sufficient to satisfy the requirements of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Substitute Awards</u>. Awards may, in the sole discretion of the Administrator, be granted under the Plan in assumption of, or
in substitution for, outstanding awards previously granted by an entity acquired by the Company, its Parent, or any Subsidiary or with
which the Company, its Parent, or any Subsidiary combines (" <u>Substitute Awards</u> "). Substitute Awards shall not be counted
against the Plan Share Limit; <u>provided</u>, <u>however</u>, that Substitute Awards issued in connection with the assumption of, or
in substitution for, outstanding options intended to qualify as Incentive Stock Options shall be counted against the Incentive Stock Option
limit in Section 4(e).

5. <u>Administration</u>. The Plan will be administered by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Powers of the Administrator</u>. Subject to the provisions of the Plan, the Administrator will have the authority, in its discretion
to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) determine Fair Market Value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) select the Service Providers to whom Awards may be granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) determine the type or types of Awards to be granted to Participants under the Plan and number of the Shares to be covered by each
Award;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) approve forms of Award Agreements for use under the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award. Such terms and conditions include,
but are not limited to, the exercise price or purchase price, the time or times when Awards may be exercised (which may be based on performance
criteria), any vesting criteria or Periods of Restriction, any vesting acceleration or waiver of forfeiture or repurchase restrictions,
and any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator,
in its sole discretion, will determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) construe and interpret the terms of the Plan, any Award Agreement, and Awards granted pursuant to the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) prescribe, amend, and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established
for the purpose of satisfying applicable foreign laws and/or qualifying for preferred tax treatment under applicable tax laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) modify or amend each Award (subject to Section 18(c)), including (A) the discretionary authority to extend the post-termination exercisability
period of Awards and (B) accelerate the satisfaction of any vesting criteria or waiver of forfeiture or repurchase restrictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) allow Participants to satisfy withholding tax obligations by electing to have the Company withhold from the Shares or cash to be issued
upon exercise or vesting of an Award that number of the Shares or cash having a Fair Market Value equal to the amount required to be withheld.
The Fair Market Value of any Shares to be withheld will be determined on the date that the amount of tax to be withheld is to be determined.
All elections by a Participant to have Shares or cash withheld for this purpose will be made in such form and under such conditions as
the Administrator may deem necessary or advisable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted
by the Administrator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) allow a Participant to defer the receipt of the payment of cash or the delivery of the Shares that would otherwise be due to such
Participant under an Award, subject to compliance (or exemption) from Code Section 409A;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) determine whether Awards will be settled in cash, Shares, other securities, other property, or in any combination thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) determine whether Awards will be adjusted for dividend equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) create Other Stock-Based Awards for issuance under the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) impose such restrictions, conditions, or limitations as it determines appropriate as to the timing and manner of any resales by a
Participant or other subsequent transfers by the Participant of any securities issued as a result of or under an Award, including without
limitation, (A) restrictions under an insider trading policy, and (B) restrictions as to the use of a specified brokerage firm for such
resales or other transfers; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) make all other determinations deemed necessary or advisable for administering the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Prohibition on Repricing</u>. Notwithstanding anything to the contrary in Section 5(a) and except for
an adjustment pursuant to Section 14 or a repricing approved by shareholders, in no case may the Administrator (i) amend an outstanding
Stock Option or SAR to reduce the exercise price of the Award, (ii) cancel, exchange, or surrender an outstanding Stock Option or SAR
in exchange for cash or other awards for the purpose of repricing the Award, or (iii) cancel, exchange, or surrender an outstanding Stock
Option or SAR in exchange for an option or SAR with an exercise price that is less than the exercise price of the original Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Section 16</u>. To the extent desirable to qualify transactions hereunder as exempt under Exchange
Act Rule 16b-3, the transactions contemplated hereunder will be approved by the entire Board or a committee of two or more Non-Employee
Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Delegation of Authority</u>. Except to the extent prohibited by Applicable Laws, the Administrator
may delegate to one or more officers of the Company some or all of its authority under the Plan, including the authority to grant all
types of Awards, in accordance with Applicable Laws (except that such delegation shall not apply to any Award for a Participant then covered
by Section 16 of the Exchange Act), and the Administrator may delegate to one or more committees of the Board (which may consist solely
of one Director) some or all of its authority under this Plan, including the authority to grant all types of Awards, in accordance with
Applicable Laws. Such delegation may be revoked at any time. The acts of such delegates shall be treated as acts of the Administrator,
and such delegates shall report regularly to the Administrator regarding the delegated duties and responsibilities and any Awards granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Effect of Administrator's Decision</u>. The Administrator's decisions, determinations, and interpretations will be
final and binding on all persons, including Participants and any other holders of Awards.

6. <u>Eligibility</u>. The Administrator has the discretion to select any Service Provider to receive an Award, although Incentive Stock
Options may be granted only to Employees. Designation of a Participant in any year shall not require the Administrator to designate such
person to receive an Award in any other year or, once designated, to receive the same type or amount of Award as granted to the Participant
in any other year. The Administrator shall consider such factors as it deems pertinent in selecting Participants and in determining the
type and amount of their respective Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Stock Options</u>. The Administrator, at any time and from time to time, may grant Stock Options under the Plan to Service Providers.
Each Stock Option shall be subject to such terms and conditions consistent with the Plan as the Administrator may impose from time to
time, subject to the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Exercise Price</u>. The per share exercise price for Shares to be issued pursuant to exercise of a Stock Option will be determined
by the Administrator, but shall be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant, subject
to Section 7(e). Notwithstanding the foregoing, a Stock Option may be granted with an exercise price lower than that set forth in the
preceding sentence if such Stock Option is granted pursuant to an assumption or substitution for another option in a manner satisfying
the provisions of Code Section 424(a) and Code Section 409A, to the extent applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Exercise Period</u>. Stock Options granted under the Plan shall be exercisable at such time or times and subject to such terms
and conditions as shall be determined by the Administrator; <u>provided</u>, <u>however</u>, that no Stock Option shall be exercisable
later than ten (10) years after the date it is granted. Stock Options shall terminate at such earlier times and upon such conditions or
circumstances as the Administrator shall in its discretion set forth in such Award Agreement at the date of grant; <u>provided</u>, <u>however</u>,
the Administrator may, in its sole discretion, later waive any such condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Payment of Exercise Price</u>. To the extent permitted by Applicable Laws, the Participant may pay the Stock Option exercise price
by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) cash;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) check;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if approved by the Administrator, as determined in its sole discretion, surrender of other Shares which meet the conditions established
by the Administrator to avoid adverse accounting consequences to the Company (as determined by the Administrator);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) if approved by the Administrator, as determined in its sole discretion, by a broker-assisted cashless exercise in accordance with
procedures approved by the Administrator, whereby payment of the exercise price may be satisfied, in whole or in part, with Shares subject
to the Stock Option by delivery of an irrevocable direction to a securities broker (on a form prescribed by the Administrator) to sell
Shares and to deliver all or part of the sale proceeds to the Company in payment of the aggregate exercise price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) if approved by the Administrator for a Nonqualified Stock Option, as determined in its sole discretion, by delivery of a notice of
"net exercise" to the Company, pursuant to which the Participant shall receive the number of Shares underlying the Stock Option
so exercised reduced by the number of Shares equal to the aggregate exercise price of the Stock Option divided by the Fair Market Value
on the date of exercise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) any combination of the foregoing methods of payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Exercise of Stock Option</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Procedure for Exercise</u>. Any Stock Option granted hereunder will be exercisable according to the terms of the Plan and at such
times and under such conditions as determined by the Administrator and set forth in the Award Agreement. A Stock Option may not be exercised
for a fraction of a Share. Exercising a Stock Option in any manner will decrease the number of Shares thereafter available for purchase
under the Stock Option, by the number of Shares as to which the Stock Option is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Exercise Requirements</u>. A Stock Option will be deemed exercised when the Company receives: (A) written or electronic notice
of exercise (in accordance with the Award Agreement) from the person entitled to exercise the Stock Option, and (B) full payment of the
exercise price (including provision for any applicable tax withholding).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Non-Exempt Employees</u>. If a Stock Option is granted to an Employee who is a non-exempt employee for purposes of the Fair Labor
Standards Act of 1938, as amended, the Stock Option will not be first exercisable for any Shares until at least six (6) months following
the date of grant of the Stock Option (although the Stock Option may vest prior to such date). Consistent with the provisions of the Worker
Economic Opportunity Act, (A) if such non-exempt Employee dies or suffers a Disability, (B) upon a Change in Control in which such Stock
Option is not assumed, continued, or substituted, or (C) upon the Participant's retirement (as such term may be defined in the Participant's
Award Agreement, in another agreement between the Participant and the Company, or, if no such definition, in accordance with the then
current employment policies and guidelines of the Company or employing Subsidiary), the vested portion of any Stock Option may be exercised
earlier than six (6) months following the date of grant. The foregoing provision is intended to operate so that any income derived by
a non-exempt employee in connection with the exercise or vesting of a Stock Option will be exempt from the Participant's regular
rate of pay. To the extent permitted and/or required for compliance with the Worker Economic Opportunity Act to ensure that any income
derived by a non-exempt employee in connection with the exercise, vesting, or issuance of any Shares under any other Award will be exempt
from the employee's regular rate of pay, the provisions of this Section 7(d)(iii) will apply to all Awards and are hereby incorporated
by reference into such Award Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Termination of Relationship as a Service Provider</u>. If a Participant ceases to be a Service Provider, the Participant may exercise
the Stock Option within such period of time as is specified in the Award Agreement to the extent that the Stock Option is vested on the
date of termination (but in no event later than the expiration of the term of such Stock Option as set forth in the Award Agreement).
In the absence of a specified time in the Award Agreement, the Stock Option will remain exercisable for three (3) months (or twelve (12)
months in the case of termination on account of Disability or death) following the Participant's termination. If a Participant commits
an act of Cause, all vested and unvested Stock Options shall be forfeited as of such date. Unless otherwise provided by the Administrator,
if on the date of termination the Participant is not vested as to a Stock Option, the Shares covered by the unvested portion of the Stock
Option will be forfeited and will revert to the Plan and again will become available for grant under the Plan. If after termination, the
Participant does not exercise a Stock Option as to all of the vested Shares within the time specified by the Administrator, the Stock
Option will terminate, and remaining Shares covered by such Stock Option will be forfeited and will revert to the Plan and again will
become available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Extension of Exercisability</u>. A Participant may not exercise a Stock Option at any time that the issuance of Shares upon such
exercise would violate Applicable Laws. Except as otherwise provided in the Award Agreement, if a Participant ceases to be a Service Provider
for any reason other than for Cause and, at any time during the last thirty (30) days of the applicable post-termination exercise period:
(A) the exercise of the Participant's Stock Option would be prohibited solely because the issuance of Shares upon such exercise
would violate Applicable Laws, or (B) the immediate sale of any Shares issued upon such exercise would violate the Company's trading
policy, then the applicable post-termination exercise period will be extended to the last day of the calendar month that commences following
the date the Award would otherwise expire, with an additional extension of the exercise period to the last day of the next calendar month
to apply if any of the foregoing restrictions apply at any time during such extended exercise period, generally without limitation as
to the maximum permitted number of extensions); <u>provided</u>, <u>however</u>, that in no event may such Award be exercised after the
expiration of its maximum term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <u>Beneficiary</u>. If a Participant dies while a Service Provider, the Stock Option may be exercised following the Participant's
death by the Participant's designated beneficiary, provided such beneficiary has been designated and received by the Administrator
prior to the Participant's death in a form acceptable to the Administrator. If no such beneficiary has been properly designated
by the Participant, then such Stock Option may be exercised by the personal representative of the Participant's estate or by the
persons to whom the Stock Option is transferred pursuant to the Participant's will or in accordance with the laws of descent and
distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) <u>Shareholder Rights</u>. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a
duly authorized transfer agent or depositary of the Company), no right to vote or receive dividends or any other rights as a shareholder
will exist with respect to the Shares, notwithstanding the exercise of the Stock Option. No adjustment will be made for a dividend or
other right for which the record date is prior to the date the Shares are issued, except as provided in Section 14 or the applicable Award
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Incentive Stock Option Limitations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each Stock Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonqualified Stock Option. However,
notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock
Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company, its Parent, or
any Subsidiary) exceeds $100,000 0 (or such other limit established in the Code), such Stock Options will be treated as Nonqualified Stock
Options. For purposes of this Section 7(e)(i), Incentive Stock Options will be taken into account in the order in which they were granted.
The Fair Market Value of the Shares will be determined as of the time the Stock Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) In the case of an Incentive Stock Option, exercise price will be determined by the Administrator, but shall be no less than one hundred
percent (100%) of the Fair Market Value per Share on the date of grant. The term of any Incentive Stock Option will be ten (10) years
from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option
granted to a Participant who, at the time the Incentive Stock Option is granted, owns shares representing more than ten percent (10%)
of the total combined voting power of all classes of stock of the Company, its Parent, or any Subsidiary, the term of the Incentive Stock
Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement and the exercise price
shall not be less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) No Stock Option shall be treated as an Incentive Stock Option unless this Plan has been approved by the shareholders of the Company
in a manner intended to comply with the shareholder approval requirements of Code Section 422(b)(1), provided that any Stock Option intended
to be an Incentive Stock Option shall not fail to be effective solely on account of a failure to obtain such approval, but rather such
Stock Option shall be treated as a Nonqualified Stock Option unless and until such approval is obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In the case of an Incentive Stock Option, the terms and conditions of such grant shall be subject to and comply with such rules as
may be prescribed by Code Section 422. If for any reason a Stock Option intended to be an Incentive Stock Option (or any portion thereof)
shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Stock Option or portion thereof shall
be regarded as a Nonqualified Stock Option appropriately granted under this Plan.

8. <u>Stock Appreciation Rights (SARs)</u>. The Administrator, at any time and from time to time, may grant SARs to Service Providers.
Each SAR shall be subject to such terms and conditions, consistent with the Plan, as the Administrator may impose from time to time, subject
to the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>SAR Award Agreement</u>. Each SAR will be evidenced by an Award Agreement that will specify the exercise price, the term of the
SAR, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Number of Shares</u>. The Administrator will have complete discretion to determine the number of Shares subject to any SAR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Exercise Price and Other Terms</u>. The per share exercise price for the Shares that will determine the amount of the payment to
be received upon exercise of a SAR will be determined by the Administrator and will be no less than one hundred percent (100%) of the
Fair Market Value per Share on the date of grant. Otherwise, the Administrator, subject to the provisions of the Plan, will have complete
discretion to determine the terms and conditions of SARs granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Expiration of Stock Appreciation Rights</u>. A SAR granted under the Plan will expire upon the date determined by the Administrator,
in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 7(d) relating to the
maximum term and exercise also will apply to SARs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Payment of Stock Appreciation Right Amount</u>. Upon exercise of a SAR, a Participant will be entitled to receive payment from
the Company in an amount determined by multiplying:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The number of Shares with respect to which the SAR is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Payment Form</u>. At the discretion of the Administrator, the payment upon SAR exercise may be in cash, in Shares, other securities,
or other property of equivalent value, or in some combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Tandem Awards</u>. Any Stock Option granted under this Plan may include tandem SARs (<u>i.e.</u>, SARs granted in conjunction with
an Award of Stock Options under this Plan). The Administrator also may award SARs to a Service Provider independent of any Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Restricted Stock</u>. The Administrator, at any time and from time to time, may grant Restricted Stock to Service Providers in
such amounts as the Administrator, in its sole discretion, will determine, subject to the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Restricted Stock Agreement</u>. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period
of Restriction and the applicable restrictions, the number of Shares granted, and such other terms and conditions as the Administrator,
in its sole discretion, will determine. Restricted Stock may be awarded in consideration for (i) cash, check, bank draft, or money order
payable to the Company, (ii) past services to the Company, its Parent, or any Subsidiary, or (iii) any other form of legal consideration
(including future services) that may be acceptable to the Administrator, in its sole discretion, and permissible under Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Removal of Restrictions</u>. Unless the Administrator determines otherwise, Restricted Stock will be held by the Company as escrow
agent until the restrictions on such Restricted Stock have lapsed. The Administrator, in its discretion, may accelerate the time at which
any restrictions will lapse or be removed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Voting Rights</u>. During the Period of Restriction, a Participant holding Restricted Stock may exercise the voting rights applicable
to those restricted Shares, unless the Administrator determines otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Dividends and Other Distributions</u>. During the Period of Restriction, a Participant holding Restricted Stock will be entitled
to receive all dividends and other distributions paid with respect to such Restricted Stock unless otherwise provided in the Award Agreement.
If any such dividends or distributions are paid in Shares, such Shares will be subject to the same restrictions on transferability and
forfeitability as the Restricted Stock with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Transferability</u>. Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until
the end of the applicable Period of Restriction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Return of Restricted Stock to Company</u>. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions
have not lapsed will be forfeited and will revert to the Company and again will become available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Restricted Stock Units (RSUs)</u>. The Administrator, at any time and from time to time, may grant RSUs under the Plan to Service
Providers. Each RSU shall be subject to such terms and conditions, consistent with the Plan, as the Administrator may impose from time
to time, subject to the following limitations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>RSU Award Agreement</u>. Each Award of RSUs will be evidenced by an Award Agreement that will specify the terms, conditions, and
restrictions related to the grant, including the number of RSUs and such other terms and conditions as the Administrator, in its sole
discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Vesting Criteria and Other Terms</u>. The Administrator will set vesting criteria in its discretion, which, depending on the extent
to which the criteria are met, will determine the number of RSUs that will be paid out to the Participant. The Administrator may set vesting
criteria based upon the achievement of Company-wide, business unit, or individual goals (including, but not limited to, continued employment
or Service), or any other basis determined by the Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Earning Restricted Stock Units</u>. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a
payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of RSUs, the Administrator, in its
sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Form and Timing of Payment</u>. Payment of earned RSUs will be made after the date(s) determined by the Administrator and set forth
in the Award Agreement, but no later than two and one-half months following the fiscal year of the Company or calendar year of vesting.
The Administrator, in its sole discretion, may settle earned RSUs in cash, Shares, other securities, other property, or a combination
of both.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Voting and Dividend Equivalent Rights</u>. The holders of RSUs shall have no voting rights as the Company's shareholders.
Prior to settlement or forfeiture, RSUs awarded under the Plan may, at the Administrator's discretion, provide for a right to dividend
equivalents. Such right entitles the holder to be credited with an amount equal to all dividends paid on one Share while the RSU is outstanding.
Dividend equivalents may be converted into additional RSUs. Settlement of dividend equivalents may be made in the form of cash, Shares,
other securities, other property, or in a combination of the foregoing. Prior to distribution, any dividend equivalents shall be subject
to the same conditions and restrictions as the RSUs to which they attach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Cancellation</u>. On the date set forth in the Award Agreement, all unearned RSUs will be forfeited to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Other Stock-Based Awards</u>. Other Stock-Based Awards may be granted either alone, in addition to, or in tandem with, other Awards
granted under the Plan and/or cash awards made outside of the Plan. The Administrator shall have authority to determine the Service Providers
to whom and the time or times at which Other Stock-Based Awards shall be made, the amount of such Other Stock-Based Awards, and all other
conditions of the Other Stock-Based Awards including any dividend and/or voting rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Vesting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Vesting Conditions</u>. Each Award may or may not be subject to vesting, a Period of Restriction, and/or other conditions as the
Administrator may determine. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Award
Agreement. Vesting conditions may include Service-based conditions, performance-based conditions, such other conditions as the Administrator
may determine, or any combination thereof. An Award Agreement may provide for accelerated vesting upon certain specified events.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Performance Criteria</u>. The Administrator may establish performance-based conditions for an Award which may be based on the attainment
of specific levels of performance of the Company (and/or one or more Subsidiaries, divisions, business segments or operational units,
or any combination of the foregoing) and may include, without limitation, any of the following: (i) net earnings or net income (before
or after taxes); (ii) basic or diluted earnings per Share (before or after taxes); (iii) revenue or revenue growth (measured on a net
or gross basis); (iv) gross profit or gross profit growth; (v) operating profit (before or after taxes); (vi) return measures (including,
but not limited to, return on assets, capital, invested capital, equity, or sales); (vii) cash flow (including, but not limited to, operating
cash flow, free cash flow, net cash provided by operations, and cash flow return on capital); (viii) financing and other capital raising
transactions (including, but not limited to, sales of the Company's equity or debt securities); (ix) earnings before or after taxes,
interest, depreciation, and/or amortization; (x) gross or operating margins; (xi) productivity ratios; (xii) Share price (including, but
not limited to, growth measures, and total shareholder return); (xiii) expense targets; (xiv) margins; (xv) productivity and operating
efficiencies; (xvi) customer satisfaction; (xvii) customer growth; (xviii) working capital targets; (xix) measures of economic value added;
(xx) inventory control; (xxi) enterprise value; (xxii) sales; (xxiii) debt levels and net debt; (xxiv) combined ratio; (xxv) timely launch
of new facilities; (xxvi) client retention; (xxvii) employee retention; (xxviii) timely completion of new product rollouts; (xxix) cost
targets; (xxx) reductions and savings; (xxxi) productivity and efficiencies; (xxxii) strategic partnerships or transactions; and (xxxiii)
personal targets, goals, or completion of projects. Any one or more of the performance criteria may be used on an absolute or relative
basis to measure the performance of the Company and/or one or more Subsidiaries as a whole or any business unit(s) of the Company and/or
one or more Subsidiaries or any combination thereof, as the Administrator may deem appropriate, or any of the above performance criteria
may be compared to the performance of a selected group of comparison or peer companies, or a published or special index that the Administrator,
in its sole discretion, deems appropriate, or as compared to various stock market indices. The Administrator also has the authority to
provide for accelerated vesting of any Award based on the achievement of performance criteria specified in this paragraph. Any performance
criteria that are financial metrics, may be determined in accordance with United States Generally Accepted Accounting Principles (" <u>GAA</u> P")
or may be adjusted when established to include or exclude any items otherwise includable or excludable under GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Default Vesting</u>. Unless otherwise set forth in an individual Award Agreement, each Award shall vest over a four (4) year period,
with one-fourth (1/4) of the Award vesting on the first anniversary of the date of grant and the remainder of the Award vesting quarterly
thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Leaves of Absence</u>. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during
any Employee's unpaid leave of absence and will resume on the date the Employee returns to work on a regular schedule as determined
by the Administrator; <u>provided</u>, <u>however</u>, that no vesting credit will be awarded for the time vesting has been suspended
during such leave of absence. A Service Provider will not cease to be an Employee in the case of (i) any leave of absence approved by
the Company or the employing Subsidiary, although any leave of absence not provided for in the applicable employee manual of the Company
or employing Subsidiary needs to be approved by the Administrator, or (ii) transfers between locations of the Company or between the Company,
its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no leave of absence may exceed ninety (90) days, unless reemployment
upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by
the Company or employing Subsidiary is not so guaranteed, then three (3) months following the 91st day of such leave any Incentive Stock
Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for federal tax purposes as a
Nonqualified Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) In the event a Service Provider's regular level of time commitment in the performance of services for the Company, its Parent,
or any Subsidiary is reduced (for example, and without limitation, if the Service Provider is an Employee of the Company and the Employee
has a change in status from a full-time Employee to a part-time Employee) after the date of grant of any Award to the Service Provider,
the Administrator has the right in its sole discretion to (i) make a corresponding reduction in the number of Shares subject to any portion
of such Award that is scheduled to vest or become payable after the date of such change in time commitment, and (ii) in lieu of or in
combination with such a reduction, extend the vesting or payment schedule applicable to such Award. In the event of any such reduction,
the Service Provider will have no right with respect to any portion of the Award that is so reduced or extended.

13. <u>Non-Transferability of Awards</u>. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner, except to the Participant's estate or legal representative, and may be
exercised, during the lifetime of the Participant, only by the Participant, although the Administrator, in its discretion, may permit
Award transfers for purposes of estate planning or charitable giving. If the Administrator makes an Award transferable, such Award will
contain such additional terms and conditions as the Administrator deems appropriate.

14. <u>Adjustments; Dissolution or Liquidation; Change in Control</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Adjustments</u>. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or
other property), recapitalization, share split, reverse share split, reorganization, merger, consolidation, split-up, spin-off, combination,
repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting
the Shares occurs such that an adjustment is determined by the Administrator (in its sole discretion) to be appropriate in order to prevent
dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Administrator shall,
in such manner as it may deem equitable, adjust the number and class of Shares which may be delivered under the Plan, the number, class
and price of Shares subject to outstanding awards, and the numerical limits in Section 4. Notwithstanding the preceding, the number of
Shares subject to any Award always shall be a whole number.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Dissolution or Liquidation</u>. In the event of the proposed dissolution or liquidation of the Company, the Administrator will
notify each Participant as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion
may provide for a Participant to have the right to exercise an Award, to the extent applicable, until ten (10) days prior to such transaction
as to all of the Shares covered thereby, including Shares as to which the Award would not be vested or otherwise be exercisable. In addition,
the Administrator may provide that any Company repurchase option or forfeiture rights applicable to any Award shall lapse one hundred
percent (100%), and that any Award vesting shall accelerate one hundred percent (100%), provided the proposed dissolution or liquidation
takes place at the time and in the manner contemplated. To the extent it has not been previously vested and, if applicable, exercised,
an Award will terminate immediately prior to the consummation of such proposed action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Change in Control</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) In the event of a Change in Control, each outstanding Award shall be assumed or an equivalent award substituted by the acquiring or
successor corporation or a parent of the acquiring or successor corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Unless determined otherwise by the Administrator, in the event that the successor corporation refuses to assume or substitute for
the Award, the Participant shall fully vest in and have the right to exercise the Award as to all of the Shares, including those as to
which it would not otherwise be vested or exercisable, all applicable restrictions will lapse, and all performance objectives and other
vesting criteria will be deemed achieved at targeted levels. If a Stock Option or SAR is not assumed or substituted in the event of a
Change in Control, the Administrator shall notify the Participant in writing or electronically that the Stock Option or SAR shall be exercisable,
to the extent vested, for a period of up to fifteen (15) days from the date of such notice, and the Stock Option or SAR shall terminate
upon the expiration of such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) For the purposes of this Section 14(c), the Award shall be considered assumed if, following the Change in Control, the Award confers
the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether
shares, cash, or other securities or property) received in the Change in Control by holders of Shares for each Share held on the effective
date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority
of the outstanding Shares); <u>provided</u>, <u>however</u>, that if such consideration received in the Change in Control is not solely
common stock of the acquiring or successor corporation or its parent, the Administrator may, with the consent of the acquiring or successor
corporation, provide for the consideration to be received, for each Share subject to the Award, to be solely common stock of the acquiring
or successor corporation or its parent equal in fair market value to the per share consideration received by holders of Shares in the
Change in Control. Payments under this provision may be delayed to the same extent that payment of consideration to the holders of the
Shares in connection with the Change in Control is delayed as a result of escrows, earn outs, holdbacks, or any other contingencies. Notwithstanding
anything herein to the contrary, an Award that vests, is earned, or is paid out upon the satisfaction of one or more performance goals
will not be considered assumed if the Company or the acquiring or successor corporation modifies any of such performance goals without
the Participant's consent; <u>provided</u>, <u>however</u>, that a modification to such performance goals only to reflect the acquiring
or successor corporation's post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award
assumption.

15. <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. It is a condition to each Award under the Plan that a Participant or such Participant's successor shall make
such arrangements that may be necessary, in the opinion of the Administrator or the Company, for the satisfaction of any federal, state,
local, or foreign withholding tax obligations that arise in connection with any Award granted under the Plan. The Company shall not be
required to issue any Shares or make any cash payment under the Plan unless such obligations are satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Share Withholding</u>. To the extent that Applicable Laws subject a Participant to tax withholding obligations, the Administrator
may permit such Participant to satisfy all or part of such obligations by having the Company, its Parent, or a Subsidiary withhold all
or a portion of any Share that otherwise would be issued to such Participant or by surrendering all or a portion of any Share that the
Participant previously acquired. Such Share shall be valued on the date withheld or surrendered. Any payment of taxes by assigning Shares
to the Company, its Parent, or a Subsidiary may be subject to restrictions, including any restrictions required by the Securities and
Exchange Commission, accounting, or other rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Discretionary Nature of Plan</u>. The benefits and rights provided under the Plan are wholly discretionary and, although provided
by the Company, do not constitute regular or periodic payments. Unless otherwise required by Applicable Laws, the benefits and rights
provided under the Plan are not to be considered part of a Participant's salary or compensation or for purposes of calculating any
severance, resignation, redundancy or other end of service payments, vacation, bonuses, long-term service awards, indemnification, pension
or retirement benefits, or any other payments, benefits, or rights of any kind. By acceptance of an Award, a Participant waives any and
all rights to compensation or damages as a result of the termination of Service for any reason whatsoever insofar as those rights result
or may result from this Plan or any Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Code Section 409A</u>. Awards will be designed and operated in such a manner that they are either exempt from the application of,
or comply with, the requirements of Code Section 409A and will be construed and interpreted in accordance with such intent, except as
otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral
thereof, is subject to Code Section 409A, the Award will be granted, paid, settled, or deferred in a manner that will meet the requirements
of Code Section 409A, such that the grant, payment, settlement, or deferral will not be subject to the additional tax or interest applicable
under Code Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Deferral of Award Settlement</u>. The Administrator, in its discretion, may permit selected Participants to elect to defer distributions
of Restricted Stock or RSUs in accordance with procedures established by the Administrator to assure that such deferrals comply with applicable
requirements of the Code. Any deferred distribution, whether elected by the Participant or specified by the Award Agreement or the Administrator,
shall comply with Code Section 409A, to the extent applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Limitation on Liability</u>. Neither the Company, nor its Parent, nor any Subsidiary, nor any person serving as Administrator shall
have any liability to a Participant in the event an Award held by the Participant fails to achieve its intended characterization under
applicable tax law.

16. <u>No Rights as a Service Provider</u>. Neither the Plan, nor an Award Agreement, nor any Award shall confer upon a Participant any
right with respect to continuing a relationship as a Service Provider, nor shall they interfere in any way with the right of the Participant
or the right of the Company, its Parent, or any Subsidiary to terminate such relationship at any time, with or without cause.

17. <u>Recoupment Policy</u>. All Awards granted under the Plan, all amounts paid under the Plan and all Shares issued under the Plan
shall be subject to reduction, recoupment, clawback, or recovery by the Company in accordance with Applicable Laws and with Company policy
(whenever adopted) regarding same, whether or not such policy is intended to satisfy the requirements of the Dodd-Frank Wall Street Reform
and Consumer Protection Act, the Sarbanes-Oxley Act, or other Applicable Laws, as well as any implementing regulations and/or listing
standards.

18. <u>Amendment and Termination of the Plan</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amendment and Termination</u>. The Board may at any time amend, alter, suspend, or terminate the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Shareholder Approval</u>. The Company may obtain shareholder approval of any Plan amendment to the extent necessary or, as determined
by the Administrator in its sole discretion, desirable to comply with Applicable Laws, including any amendment that (i) increases the
number of Shares available for issuance under the Plan or (ii) changes the persons or class of persons eligible to receive Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Effect of Amendment or Termination</u>. No amendment, alteration, suspension, or termination of the Plan will materially impair
the rights of any Participant with respect to outstanding Awards, unless mutually agreed otherwise between the Participant and the Administrator,
which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator's
ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

19. <u>Conditions Upon Issuance of Shares</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Legal Compliance</u>. Shares will not be issued pursuant to an Award unless the exercise of such Award and the issuance and delivery
of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to
such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Investment Representations</u>. As a condition to the exercise or receipt of an Award, the Company may require the person exercising
or receiving such Award to represent and warrant at the time of any such exercise or receipt that the Shares are being purchased only
for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such
a representation is required or desirable.

20. <u>Severability</u>. Notwithstanding any contrary provision of the Plan or an Award Agreement, if any one or more of the provisions
(or any part thereof) of this Plan or an Award Agreement shall be held invalid, illegal, or unenforceable in any respect, such provision
shall be modified so as to make it valid, legal, and enforceable, and the validity, legality, and enforceability of the remaining provisions
(or any part thereof) of the Plan or Award Agreement, as applicable, shall not in any way be affected or impaired thereby.

21. <u>Inability to Obtain Authority</u>. The inability of the Company to obtain authority from any regulatory body having jurisdiction,
which authority is deemed by the Company's counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will
relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority will
not have been obtained.

22. <u>Shareholder Approval</u>. The Plan will be subject to approval by the shareholders of the Company within twelve (12) months after
the date the Plan is adopted. Such shareholder approval will be obtained in the manner and to the degree required under Applicable Laws.
All Awards hereunder are contingent on approval of the Plan by shareholders. Notwithstanding any other provision of this Plan, if the
Plan is not approved by the shareholders within twelve (12) months after the date the Plan is adopted, the Plan and any Awards hereunder
shall be automatically terminated.

23. <u>Choice of Law</u>. The Plan will be governed by and construed in accordance with the internal laws of the State of Delaware, without
reference to any choice of law principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. <u>Effective Date</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan shall be effective as of January 24, 2023, the date on which the Plan was adopted by the Board and the Company's shareholders
(the " <u>Effective Date</u> ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless terminated earlier under Section 18, this Plan shall terminate on January 24, 2033, ten years after the Effective Date.

## Exhibit 10.9

**Exhibit 10.9**

**DEBT CONVERSION AGREEMENT**

This Debt Conversion Agreement (this "**Agreement**") is made as of January ___, 2023 (the "**Effective Date**"), by and among T1V, Inc., a Delaware corporation (the "**Company**"), Decathlon Alpha II, L.P., a Delaware limited partnership ("**Decathlon**"), and Decathlon Alpha III, L.P., a Delaware limited partnership ("**Decathlon II**" and together with Decathlon, the "**Lender**").

WHEREAS, the Company and the Lender are party to that certain Revenue Loan and Security Agreement, dated July 1, 2015 (as amended, the "**Loan Agreement)**;

WHEREAS, capitalized terms used, but not defined herein, shall have the meaning ascribed to such terms in the Loan Agreement;

WHEREAS, the Company is contemplating an initial underwritten public offering (the "**IPO**") of up to $16.5 million in units consisting of (i) one share of Class A Common Stock of the Company, $0.001 par value per share (the "**Class A Common Stock**"), and (ii) a five-year warrant exercisable for one share of Class A Common Stock;

WHEREAS, the Lender and the Company desire to convert $1,700,000.00 of the Obligations under the Loan Agreement (the "**Convertible Loan Balance**") into Class A Common Stock, at a conversion price equal to the public offering price for the Class A Common Stock in the IPO (such conversion, the "**Conversion**"); and

WHEREAS, the Company will pay the remaining balance of the Obligations under the Loan Agreement from the proceeds of the IPO as of the date of the closing of the IPO.

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants, terms and conditions herein contained, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Conversion of Loan Balance</u>. Effective as of immediately prior to the closing of the IPO (the "**Effective Time**"), the Lender hereby agrees that the Convertible Loan Balance shall be converted, without any further action of the parties, into a number of shares of Class A Common Stock equal to: (a) the Convertible Loan Balance, *divided by* (b) the public offering price for the Class A Common Stock in the IPO (the "**Conversion Shares**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Cancellation of Debt</u>. The Company and the Lender agree that, in connection with the conversion of the Convertible Loan Balance as set forth in <u>Section 1</u> above, as of the Effective Time, the Convertible Loan Balance shall be applied as a payment against the Obligations under the Loan Agreement to reduce such Obligations by an amount equal the Convertible Loan Balance (to be applied first to accrued interest and then to principal). For the avoidance of doubt, if the closing of the IPO does not occur, the Convertible Loan Balance shall not be cancelled and the Loan Agreement shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Conversion Fee</u>. In consideration of the Conversion, if the average VWAP for the Class A Common Stock for the six month period ended on the six month anniversary of the Effective Time is less than the public offering price for the Class A Common in the IPO, within five (5) days following the six month anniversary of the Effective Time, the Company shall pay to the Lender an additional amount equal to $150,000.00 (the "**Conversion Fee**"). For the avoidance of doubt, if the closing of the IPO does not occur, the Conversion Fee shall not be payable by the Company to the Lender. For the purposes of this Section 3, "**VWAP**" means, for any date, the price determined by the first of the following clauses that applies: (a) if the Class A Common Stock is then listed or quoted on a "national securities exchange," the daily volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on the trading market on which the Class A Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a trading day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if the Class A Common Stock is then quoted on the OTCQB or OTCQX, the volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Class A Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Class A Common Stock are then reported in the "Pink Sheets" published by OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Class A Common Stock so reported.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Warrant</u>. In consideration of the Conversion, within five (5) days following the Effective Time, the Company shall issue to the Lender a warrant, substantially in the form attached hereto as **<u>Exhibit A</u>** (the "**Warrant**"), to purchase a number of shares of Class A Common Stock equal to 10% of the Conversion Shares. For the avoidance of doubt, if the Closing of the IPO does not occur, the Warrants will not be issuable by the Company to the Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Representations and Warranties of the Lender</u>. The Lender represents and warrants to the Company as of the Effective Date and as of the Effective Time that: (a) this Agreement constitutes Lender's valid and legally binding obligation, enforceable in accordance with its terms; (b) the Conversion Shares and the Warrant (collectively, the "**Securities**") will be acquired for investment for the Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Lender has no present intention of selling, granting any participation in, or otherwise distributing the same; (c) the Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities; (d) the Lender is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities; (e) the Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "**Act**"); and (f) the Lender understands that the Securities are characterized as a "restricted security" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Representations and Warranties of the Company</u>. The Company represents and warrants to the Lender as of Effective Date and as of the Effective Time that: (a) the Company is a corporation duly organized, validly existing and in good standing under the laws of the state of Delaware; (b) all corporate action on the part of the Company necessary for the authorization of this Agreement, the performance of all obligations of the Company hereunder and the authorization, sale, issuance and delivery of the Securities pursuant hereto has been taken; and (c) this Agreement, when executed and delivered, will be valid and binding obligations of the Company enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights and (ii) general principles of equity that restrict the availability of equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Miscellaneous</u>. This Agreement, together with the other documents referred to herein or delivered pursuant hereto, which form a part hereof, contains the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous arrangements or understandings with respect thereto. Any term of this Agreement may be amended, terminated or waived only with the written consent of the Company and the Lender. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware (without reference to the conflicts of law provisions thereof). This Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. At any time and from time to time after the date hereof, each of the undersigned shall execute and deliver such other instruments and take such action as the Company may reasonably determine is necessary to carry out the purpose and intent of this Agreement.

[*Signature Page Follows*]

In witness whereof, the Company and the Lender have entered into this Debt Conversion Agreement on the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, Inc. | T1V, Inc. |
| By: |  |
| Name: | Michael Feldman |
| Title: | CEO |

---

IN WITNESS WHEREOF, the Company and the Lender have entered into this Debt Conversion Agreement on the Effective Date.

---

| | |
|:---|:---|
| **LENDER:** | **LENDER:** |
| DECATHLON ALPHA II, L.P. | DECATHLON ALPHA II, L.P. |
| By: | Decathlon Alpha GP, LLC |
| Its: | General Partner |
| By: |  |
|  | John Borchers, Managing Director |
| DECATHLON ALPHA III, L.P. | DECATHLON ALPHA III, L.P. |
| By: | Decathlon Alpha GP III, LLC |
| Its: | General Partner |
| By: |  |
|  | John Borchers, Managing Director |

---

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

**Form of Warrant**

## Exhibit 10.10

**Exhibit 10.10**

**DEBT CONVERSION AGREEMENT**

This Debt Conversion Agreement (this "**Agreement**") is made as of January ___, 2023 (the "**Effective Date**"), by and among T1V, Inc., a Delaware corporation (the "**Company**"), Christopher McKee ("**McKee**") and WH&W Private Market Investment Fund I, LLC ("**WH&W**" and, together with McKee, the "**Lenders**").

WHEREAS, the Company and the Lenders are party to that certain letter agreement, dated as of July 1, 2015 (the "**Letter Agreement**"), pursuant to which each of the Lenders loaned to the Company an additional $150,000 under the same terms and conditions as contained in the Revenue Loan and Security Agreement, dated July 1, 2015 (as amended, the "**Loan Agreement**"), among the Company, Decathlon Alpha II, L.P and Decathlon Alpha III, L.P.;

WHEREAS, the Company is contemplating an initial underwritten public offering (the "**IPO**") of up to $16.5 million in units consisting of (i) one share of Class A Common Stock of the Company, $0.001 par value per share (the "**Class A Common Stock**"), and (ii) a five-year warrant exercisable for one share of Class A Common Stock;

WHEREAS, McKee and the Company desire to convert $282,000.00 of the outstanding principal and interest owed by the Company to McKee under the Letter Agreement (the "**McKee Convertible Loan Balance**") into Class A Common Stock, at a conversion price equal to the public offering price for the Class A Common Stock in the IPO (such conversion, the "**McKee Conversion**"); and

WHEREAS, WH&W and the Company desire to convert $282,000.00 of the outstanding principal and interest owed by the Company to WH&W under the Letter Agreement (the "**WH&W Convertible Loan Balance**" and, together with the McKee Convertible Loan Balance, the "**Convertible Loan Balance**") into Class A Common Stock, at a conversion price equal to the public offering price for the Class A Common Stock in the IPO (such conversion, the "**WH&W Conversion**" and, together with the McKee Conversion the "**Conversions**").

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants, terms and conditions herein contained, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Conversion of Loan Balance</u>. Effective as of immediately prior to the closing of the IPO (the "**Effective 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;(a) McKee hereby agrees that the McKee Convertible Loan Balance shall be converted, without any further action of the parties, into a number of shares of Class A Common Stock equal to: (i) the McKee Convertible Loan Balance, *divided by* (ii) the public offering price for the Class A Common Stock in the IPO (the "**McKee Conversion Shares**"); 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) WH&W hereby agrees that the WH&W Convertible Loan Balance shall be converted, without any further action of the parties, into a number of shares of Class A Common Stock equal to: (i) the WH&W Convertible Loan Balance, *divided by* (ii) the public offering price for the Class A Common Stock in the IPO (the "**WH&W Conversion Shares**" and, together with the McKee Conversion Shares, the "**Conversion Shares**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Cancellation of Debt</u>. The Company and the Lenders agree that, in connection with the conversion of the Convertible Loan Balance as set forth in <u>Section 1</u> above, as of the Effective 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;(a) the McKee Convertible Loan Balance shall be applied as a payment against the outstanding principal and interest owed by the Company to McKee under the Letter Agreement to reduce such outstanding principal and accrued interest by an amount equal to the McKee Convertible Loan Balance (to be applied first to accrued interest and then to principal); 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) the WH&W Convertible Loan Balance shall be applied as a payment against the outstanding principal and interest owed by the Company to WH&W under the Letter Agreement to reduce such outstanding principal and accrued interest by an amount equal to the WH&W Convertible Loan Balance (to be applied first to accrued interest and then to principal).

The Lenders hereby waive the requirement that any fractional shares be issued to the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Conversion Fee</u>. In consideration of the Conversions, if the average VWAP for the Class A Common Stock for the six month period ended on the six month anniversary of the Effective Time is less than the public offering price for the Class A Common in the IPO, within five (5) days following the six month anniversary of the Effective Time, the Company shall pay to each Lender an additional amount equal to $24,882.00 (the "**Conversion Fee**"). For the avoidance of doubt, if the closing of the IPO does not occur, the Conversion Fee shall not be payable by the Company to the Lenders. For the purposes of this Section 3, "**VWAP**" means, for any date, the price determined by the first of the following clauses that applies: (a) if the Class A Common Stock is then listed or quoted on a "national securities exchange," the daily volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on the trading market on which the Class A Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a trading day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if the Class A Common Stock is then quoted on the OTCQB or OTCQX, the volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Class A Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Class A Common Stock are then reported in the "Pink Sheets" published by OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Class A Common Stock so reported.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Warrant</u>. In consideration of the Conversion, within five (5) days following the Effective Time, the Company shall issue:

&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 McKee a warrant, substantially in the form attached hereto as **<u>Exhibit A</u>** (the "**Warrant**"), to purchase a number of shares of Class A Common Stock equal to 10% of the McKee Conversion Shares; 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) to WH&W a Warrant to purchase a number of shares of Class A Common Stock equal to 10% of the WH&W Conversion Shares.

For the avoidance of doubt, if the Closing of the IPO does not occur, the Warrants will not be issuable by the Company to the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Representations and Warranties of the Lender</u>. Each of the Lenders represents and warrants to the Company as of the Effective Date and as of the Effective Time that: (a) this Agreement constitutes such Lender's valid and legally binding obligation, enforceable in accordance with its terms; (b) the Conversion Shares and the Warrant (collectively, the "**Securities**") will be acquired for investment for such Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that such Lender has no present intention of selling, granting any participation in, or otherwise distributing the same; (c) such Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities; (d) such Lender is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities; (e) such Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "**Act**"); and (f) such Lender understands that the Securities are characterized as a "restricted security" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Representations and Warranties of the Company</u>. The Company represents and warrants to the Lenders as of Effective Date and as of the Effective Time that: (a) the Company is a corporation duly organized, validly existing and in good standing under the laws of the state of Delaware; (b) all corporate action on the part of the Company necessary for the authorization of this Agreement, the performance of all obligations of the Company hereunder and the authorization, sale, issuance and delivery of the Securities pursuant hereto has been taken; and (c) this Agreement, when executed and delivered, will be valid and binding obligations of the Company enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights and (ii) general principles of equity that restrict the availability of equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Miscellaneous</u>. This Agreement, together with the other documents referred to herein or delivered pursuant hereto, which form a part hereof, contains the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous arrangements or understandings with respect thereto. Any term of this Agreement may be amended, terminated or waived only with the written consent of the Company and the Lenders. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware (without reference to the conflicts of law provisions thereof). This Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. At any time and from time to time after the date hereof, each of the undersigned shall execute and deliver such other instruments and take such action as the Company may reasonably determine is necessary to carry out the purpose and intent of this Agreement.

[*Signature Page Follows*]

In witness whereof, the Company and the Lenders have entered into this Debt Conversion Agreement on the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, Inc. | T1V, Inc. |
| By: |  |
| Name: | Michael Feldman |
| Title: | CEO |

---

IN WITNESS WHEREOF, the Company and the Lenders have entered into this Debt Conversion Agreement on the Effective Date.

---

| | |
|:---|:---|
| **LENDER:** | **LENDER:** |
| Christopher McKee | Christopher McKee |
| WH&W PRIVATE MARKET INVESTMENT FUND I, LLC | WH&W PRIVATE MARKET INVESTMENT FUND I, LLC |
| By: | Welch Hornsby, Inc., Its Manager |
| By: |  |
| Name: | Edward V. Welch, Jr. |
| Title: | President and CEO |

---

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

**Form of Warrant**

## Exhibit 10.11

**Exhibit 10.11**

**NOTE CONVERSION AGREEMENT**

This Note Conversion Agreement (this "**Agreement**") is made as of the date of last signature below (the "**Effective Date**"), by and among T1V, Inc., a Delaware corporation (the "**Company**"), and the undersigned holder (the "**Holder**").

WHEREAS, the Company issued to the Holder the promissory note(s) set forth on **<u>Exhibit A</u>** (the "**Notes**");

WHEREAS, the Company is contemplating an initial underwritten public offering (the "**IPO**") of up to $16.5 million in units consisting of (i) one share of Class A Common Stock of the Company, $0.001 par value per share (the "**Class A Common Stock**"), and (ii) a five-year warrant exercisable for one share of Class A Common Stock.

WHEREAS, the Holder and the Company desire to convert the outstanding balance of principal and interest on the Notes (the "**Loan Balance**") into the number of shares of the Class A Common Stock, at a conversion price equal to the public offering price for the Class A Common Stock in the IPO (such conversion, the "**Conversion**");

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants, terms and conditions herein contained, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Conversion of Loan Balance</u>. Effective as of immediately prior to the closing of the IPO (the "**Effective Time**"), Holder hereby agrees that the Loan Balance shall be converted, without any further action of the parties, into the number of shares of Class A Common Stock equal to: (a) the Loan Balance, *divided by* (b) the public offering price for the Class A Common Stock in the IPO (the "**Conversion Shares**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Termination of Debt Agreements</u>. The Company and Holder agree (a) that in connection with the conversion of the Loan Balance as set forth in <u>Section 1</u> above, as of the Effective Time, the Loan Balance and any other obligations under the Note shall be satisfied in full, cancelled and, of no further force and effect, and (b) the Note will be terminated. The Holder hereby waives the requirement that any fractional shares be issued to the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Representations and Warranties of Holder</u>. Holder represents and warrants to the Company as of the Effective Date and as of the Effective Time that: (a) Holder is the sole and record beneficial owner of the Note, free and clear of all liens, pledges, encumbrances, restrictions, options and claims of any kind; (b) this Agreement constitutes Holder's valid and legally binding obligation, enforceable in accordance with its terms; (c) the Conversion Shares will be acquired for investment for such Holder's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that Holder has no present intention of selling, granting any participation in, or otherwise distributing the same; (d) Holder does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Conversion Shares; (e) Holder is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Conversion Shares; (f) Holder is an "accredited investor" within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "**Act**"); and (g) Holder understands that the Conversion Shares are characterized as a "restricted security" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Representations and Warranties of the Company</u>. The Company represents and warrants to Holder as of Effective Date and as of the Effective Time that: (a) the Company is a corporation duly organized, validly existing and in good standing under the laws of the state of Delaware; (b) all corporate action on the part of the Company necessary for the authorization of this Agreement, the performance of all obligations of the Company hereunder and the authorization, sale, issuance and delivery of the Conversion Shares pursuant hereto has been taken; and (c) this Agreement, when executed and delivered, will be valid and binding obligations of the Company enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights and (ii) general principles of equity that restrict the availability of equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Miscellaneous</u>. This Agreement, together with the other documents referred to herein or delivered pursuant hereto, which form a part hereof, contains the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous arrangements or understandings with respect thereto. Any term of this Agreement may be amended, terminated or waived only with the written consent of the Company and Holder. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware (without reference to the conflicts of law provisions thereof). This Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. At any time and from time to time after the date hereof, each of the undersigned shall execute and deliver such other instruments and take such action as the Company may reasonably determine is necessary to carry out the purpose and intent of this Agreement.

[*Signature Page Follows*]

IN WITNESS WHEREOF, the Company and the Holder have caused this Note Conversion Agreement to be effective as of the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, Inc. | T1V, Inc. |
| By: |  |
| Name: | Michael Feldman |
| Title: | CEO |
| Date: |  |

---

IN WITNESS WHEREOF, the Company and the Holder have caused this Note Conversion Agreement to be effective as of the Effective Date.

**HOLDER:**

---

| | |
|:---|:---|
| **If Signing as an Individual:** | **If Signing on Behalf of an Entity:** |
| Printed Name of Individual | Print Name of Entity |
| Signature | Signature |
| Date | Printed Name of Signatory |
|  | Title of Signatory |
|  | Date |

---

**<u>EXHIBIT A</u>**

**Note(s)**

● [Convertible Promissory Note] in the amount of $[___], dated [___], issued by the Company in favor of the Holder

## Exhibit 10.12

**Exhibit 10.12**

**NOTE CONVERSION AGREEMENT**

This Note Conversion Agreement (this "**Agreement**") is made as of January ___, 2023 (the "**Effective Date**"), by and between T1V, Inc., a Delaware corporation (the "**Company**") and Ross Annable (the "**Lender**").

WHEREAS, the Company has issued to the Lender (i) a Promissory Note, dated as of October 28, 2015, in original principal amount of $100,000.00 (the "**2015 Note**"), and (ii) a Promissory Note, dated as of November 12, 2021, in original principal amount of $200,000.00 (the "**2021 Note**" and together with the 2015 Note, the "**Notes**");

WHEREAS, the Company is contemplating an initial underwritten public offering (the "**IPO**") of up to $16.5 million in units consisting of (i) one share of Class A Common Stock of the Company, $0.001 par value per share (the "**Class A Common Stock**"), and (ii) a five-year warrant exercisable for one share of Class A Common Stock; and

WHEREAS, the Lender and the Company desire to convert $200,000.00 of the outstanding principal and accrued interest under the Notes (the "**Convertible Loan Balance**") into Class A Common Stock, at a conversion price equal to the public offering price for the Class A Common Stock in the IPO (such conversion, the "**Conversion**").

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants, terms and conditions herein contained, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Conversion of Loan Balance</u>. Effective as of immediately prior to the closing of the IPO (the "**Effective Time**"), the Lender hereby agrees that the Convertible Loan Balance shall be converted, without any further action of the parties, into a number of shares of Class A Common Stock equal to: (a) the Convertible Loan Balance, *divided by* (b) the public offering price for the Class A Common Stock in the IPO (the "**Conversion Shares**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Cancellation of Debt</u>. The Company and the Lender agree that, in connection with the conversion of the Convertible Loan Balance as set forth in <u>Section 1</u> above, as of the Effective Time, the Convertible Loan Balance shall be applied as a payment against the outstanding principal and accrued interest under the Notes such that (a) the 2015 Note shall be satisfied in full, cancelled and of no further force and effect, and (b) the outstanding principal and accrued interest under the 2021 Note shall be reduced by the amount by which the Convertible Loan Balance exceeds the outstanding principal and accrued interest under the 2015 Note as of the Effective Time (to be applied first to accrued interest and then to principal). Effective upon the conversion, the Company shall issue to the Lender a replacement promissory note reflecting the amount of principal and accrued interest outstanding under the 2021 Note following the Conversion and any preexisting promissory notes or other debt instruments evidencing such debt are hereby terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Conversion Fee</u>. In consideration of the Conversion, if the average VWAP for the Class A Common Stock for the six month period ended on the six month anniversary of the Effective Time is less than the public offering price for the Class A Common in the IPO, within five (5) days following the six month anniversary of the Effective Time, the Company shall pay to the Lender an additional amount equal to $17,647.00 (the "**Conversion Fee**"). For the avoidance of doubt, if the closing of the IPO does not occur, the Conversion Fee shall not be payable by the Company to the Lender. For the purposes of this Section 3, "**VWAP**" means, for any date, the price determined by the first of the following clauses that applies: (a) if the Class A Common Stock is then listed or quoted on a "national securities exchange," the daily volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on the trading market on which the Class A Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a trading day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if the Class A Common Stock is then quoted on the OTCQB or OTCQX, the volume weighted average price of the Class A Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Class A Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Class A Common Stock are then reported in the "Pink Sheets" published by OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Class A Common Stock so reported.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Warrant</u>. In consideration of the Conversion, within five (5) days following the Effective Time, the Company shall issue to the Lender a warrant, substantially in the form attached hereto as **<u>Exhibit A</u>** (the "**Warrant**"), to purchase a number of shares of Class A Common Stock equal to 10% of the Conversion Shares. For the avoidance of doubt, if the Closing of the IPO does not occur, the Warrants will not be issuable by the Company to the Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Representations and Warranties of the Lender</u>. The Lender represents and warrants to the Company as of the Effective Date and as of the Effective Time that: (a) this Agreement constitutes Lender's valid and legally binding obligation, enforceable in accordance with its terms; (b) the Conversion Shares and the Warrant (collectively, the "**Securities**") will be acquired for investment for the Lender's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Lender has no present intention of selling, granting any participation in, or otherwise distributing the same; (c) the Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Securities; (d) the Lender is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Securities; (e) the Lender is an "accredited investor" within the meaning of Rule 501 of Regulation D, as presently in effect, as promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "**Act**"); and (f) the Lender understands that the Securities are characterized as a "restricted security" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Representations and Warranties of the Company</u>. The Company represents and warrants to the Lender as of Effective Date and as of the Effective Time that: (a) the Company is a corporation duly organized, validly existing and in good standing under the laws of the state of Delaware; (b) all corporate action on the part of the Company necessary for the authorization of this Agreement, the performance of all obligations of the Company hereunder and the authorization, sale, issuance and delivery of the Securities pursuant hereto has been taken; and (c) this Agreement, when executed and delivered, will be valid and binding obligations of the Company enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights and (ii) general principles of equity that restrict the availability of equitable remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Amendments of Notes</u>. Effective as of the Effective 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;(a) Section 1 of the 2015 Note is hereby amended and restated in its entirety as follows:

"1. <u>Repayment</u>. The outstanding principal under this Note shall be due and payable in full on June 30, 2023. The Company may prepay this Note in whole or in part at any 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;(b) The second sentence of the first paragraph of the 2021 Note is hereby amended and restated in its entirety as follows:

"All unpaid principal, together with any accrued and unpaid interest and other amounts payable hereunder, shall be due and payable by the Company on demand by the Holder at any time after the earlier of (i) June 30, 2023, and (ii) the IPO (the "<u>Maturity Date</u>")."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Amendment of Warrant</u>. Effective as of the Effective Date, the Amended and Restated Warrant to Purchase Shares of Series B Preferred Stock, dated October 28, 2019, issued by the Company to Lender is hereby amended and restated in its entirety as attached hereto as **<u>Exhibit B</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Miscellaneous</u>. This Agreement, together with the other documents referred to herein or delivered pursuant hereto, which form a part hereof, contains the entire agreement among the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous arrangements or understandings with respect thereto. Any term of this Agreement may be amended, terminated or waived only with the written consent of the Company and the Lender. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware (without reference to the conflicts of law provisions thereof). This Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. At any time and from time to time after the date hereof, each of the undersigned shall execute and deliver such other instruments and take such action as the Company may reasonably determine is necessary to carry out the purpose and intent of this Agreement.

[*Signature Page Follows*]

In witness whereof, the Company and the Lender have entered into this Note Conversion Agreement on the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, Inc. | T1V, Inc. |
| By: |  |
| Name: | Michael Feldman |
| Title: | CEO |

---

IN WITNESS WHEREOF, the Company and the Lender have entered into this Note Conversion Agreement on the Effective Date.

---

| |
|:---|
| **LENDER:** |
| Ross Annable |

---

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

**Form of Warrant**

**<u>Exhibit B</u>**

**Amended and Restated Warrant**

## Exhibit 10.13

**Exhibit 10.13**

**WARRANT CANCELLATION AGREEMENT**

This Warrant Cancellation Agreement (this "**Agreement**") is made as of the date of last signature below, between T1V, Inc. (the "**Company**"), and the undersigned holder (the "**Holder**").

WHEREAS, the Company has previously issued to the Holder the warrant(s) set forth on **<u>Exhibit A</u>** (the "**Warrants**");

WHEREAS, the Company is contemplating an initial underwritten public offering (the "**IPO**") of up to $16.5 million in units consisting of (i) one share of Class A Common Stock of the Company, and (ii) a five-year warrant exercisable for one share of Class A Common Stock of the Company.

WHEREAS, each of the Holder and the Company now desire to cancel the Warrants.

NOW, THEREFORE, in consideration of the premises, the agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Effective as of immediately prior to the closing of the IPO (the "**Effective Time**"), the Warrants are hereby cancelled and are irrevocably and unconditionally forfeited without any payment of any form and without any liability to any party (or any affiliate of such party) hereto. From and after the Effective Time, the Warrants will be of no further force or effect, and the rights and obligations of each of the parties thereunder shall terminate, and the Holder hereby relinquishes, on behalf of itself, its affiliates, successors and assigns, all rights currently or hereafter existing under the Warrants. The Holder agrees to surrender the Warrants to the Company for cancellation; <u>provided</u>, <u>however</u>, that, notwithstanding the failure by the Holder to surrender the Warrants, all rights granted to the Holder under the terms of the Warrants are hereby terminated effective of the Effective Time. Holder hereby waives any notice period required by the Warrants with regard to the IPO.

2. Effective upon the Effective Time, the Holder, on behalf of itself and on behalf of its affiliates (other than the Company and its subsidiaries) and representatives, beneficiaries, executors, trustees, administrators, successors, heirs, assigns of any of the foregoing (the "**Holder Related Parties**"), hereby releases, remises and forever discharges any and all rights and claims that any Holder Related Party has had, now has or might have against the Company and its affiliates under or in respect of the Warrants, except for rights and claims arising from or in connection with this Agreement.

3. The Holder acknowledges and represents that the Holder has never exercised, endorsed, delivered, transferred, assigned or otherwise disposed of the Warrants in any manner that would give any other person any interest therein.

4. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, legal representatives and heirs.

5. This Agreement may be executed in more than one counterpart, each of which shall be deemed to be an original and which, together, shall constitute one and the same instrument. Any such counterpart may contain one or more signature pages.

6. To the fullest extent possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held by a court of competent jurisdiction to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

7. This Agreement and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware, without giving effect to the conflict of laws principles thereof that might require the application of the laws of another jurisdiction.

8. All claims, actions and proceedings (whether in contract or tort) based upon, arising out of or relating to this Agreement shall be heard and determined in any state or federal court sitting in the Court of Chancery of the State of Delaware (or, if the Court of Chancery of the State of Delaware declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware), and the parties hereto hereby irrevocably submit to the exclusive jurisdiction of such courts (and, in the case of appeals, appropriate appellate courts therefrom) in any such action or proceeding and irrevocably waive the defense of an inconvenient forum to the maintenance of any such action or proceeding, and any judgment of such courts may be enforced in any other jurisdictions by suit on the judgment or by any other manner provided by law. The consents to jurisdiction set forth in this paragraph shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided in this Agreement and shall not be deemed to confer rights on any person other than the parties hereto. The parties hereto agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in any other jurisdiction by suit on the judgment or in any other manner provided by applicable law.

9. EACH PARTY TO THIS AGREEMENT HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE. EACH PARTY TO THIS AGREEMENT HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

[*Remainder of Page Intentionally Left Blank*]

IN WITNESS WHEREOF, the Company and the Holder have caused this Warrant Cancellation Agreement to be effective as of the Effective Date.

---

| | |
|:---|:---|
| **COMPANY:** | **COMPANY:** |
| T1V, Inc. | T1V, Inc. |
| By: |  |
| Name: | Michael Feldman |
| Title: | CEO |
| Date: |  |

---

IN WITNESS WHEREOF, the Company and the Holder have caused this Warrant Cancellation Agreement to be effective as of the Effective Date.

**HOLDER:**

---

| | |
|:---|:---|
| **If Signing as an Individual:** | **If Signing on Behalf of an Entity:** |
| Printed Name of Individual | Print Name of Entity |
| Signature | Signature |
| Date | Printed Name of Signatory |
|  | Title of Signatory |
|  | Date |

---

**<u>EXHIBIT A</u>**

**Warrant(s)**

● Warrant, dated [___], issued by the Company in favor of the Holder

## Exhibit 14.1

**Exhibit 14.1**

**CODE OF BUSINESS CONDUCT AND ETHICS**

**OF**

**T1V, INC.**

1 Introduction

The Board of Directors (the "**Board**") of T1V, Inc., a Delaware corporation (the "**Company**") has adopted this Code of Business Conduct and Ethics (this "**Code**"), as amended from time to time by the Board and which is applicable to all of the Company's directors, officers and employees. To the extent this Code requires a higher standard than required by commercial practice or applicable laws, rules or regulations, the Company adheres to these higher standards.

This Code applies to all of our directors, officers and employees. We refer to all Company executive and subordinate officers and employees covered by this Code as "Company employees" or simply "employees," unless the context otherwise requires. In this Code, we refer to our principal executive officer, principal financial officer, principal accounting officer and controller, or persons performing similar functions, as our "principal financial officers."

This Code is intended to supplement, and not replace, the various guidelines and documents that the Company has prepared on specific laws, rules, regulations and policies that all officers, directors and employees of the Company should be aware of, such as the Company's Employee Handbook and Insider Trading Policy.

It is the Company's policy that all Company directors, officers and employees:

● promote honest and ethical conduct, including fair dealing and the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

● promote the full, fair, accurate, timely and understandable disclosure in reports and documents that the Company files with, or submits to, the Securities and Exchange Commission (the "**SEC** "), as well as in other public communications made by or on behalf of the Company;

● promote compliance with applicable governmental laws, rules and regulations;

● protect the Company's legitimate business interests, including corporate opportunities, assets and confidential information;

● deter wrongdoing; and

● require prompt internal reporting of breaches of, and accountability for adherence to, this Code.

This Code may be amended and modified by the Board. In this Code, references to the "Company" means T1V, Inc. and, in appropriate context, the Company's subsidiaries, if any.

2 Honest, Ethical and Fair Conduct

Each person owes a duty to the Company to act with integrity. Integrity requires, among other things, being honest, fair and candid. Deceit, dishonesty and subordination of principle are inconsistent with integrity. Service to the Company should never be subordinated to personal gain or advantage.

Each person must:

● act with integrity, including being honest and candid while still maintaining the confidentiality of the Company's information where required or when in the Company's interests;

● observe all applicable governmental laws, rules and regulations;

● comply with the requirements of applicable accounting and auditing standards, as well as Company policies, in order to maintain a high standard of accuracy and completeness in the Company's financial records and other business-related information and data;

● adhere to a high standard of business ethics and not seek competitive advantage through unlawful or unethical business practices;

● deal fairly with the Company's customers, suppliers, competitors and employees;

● refrain from taking advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair-dealing practice;

● protect the assets of the Company and ensure their proper use;

● until such time as such person ceases to be an officer or director of the Company, to first present to the Company for its consideration, prior to presentation to any other entity, any business opportunity suitable for the Company, subject to any pre-existing fiduciary or contractual obligations such officer may have or as otherwise set forth in the prospectus related to the Company's initial public offering; and

● avoid conflicts of interest, wherever possible, except as may be allowed under guidelines or resolutions approved by the Board (or the appropriate committee of the Board) or as disclosed in the Company's public filings with the SEC.

A conflict of interest can arise whenever an officer, director or employee, takes action or has an interest that prevents that person from performing their Company duties and responsibilities honestly, objectively and effectively. Anything that would be a conflict for a person subject to this Code also will be a conflict for that person's family members. For purposes of this Code, "family members" includes your spouse or life-partner, siblings, parents, aunts, uncles, nieces, nephews, cousins, in-laws and children whether such relationships are by blood or adoption. Examples of conflict of interest situations include, but are not limited to, the following:

● any significant ownership interest in any supplier or customer;

● any consulting or employment relationship with any supplier, customer or competitor of the Company;

● serving on a board of directors or trustees or on a committee of any entity (whether profit or not-for-profit) whose interests reasonably would be expected to conflict with those of the Company;

● the receipt of any money, non-nominal gifts or excessive entertainment from any entity with which the Company has current or prospective business dealings;

● selling anything to the Company or buying anything from the Company, except on the same terms and conditions as comparable officers or directors are permitted to so purchase or sell;

● any other financial transaction, arrangement or relationship (including any indebtedness or guarantee of indebtedness) involving the Company; and

● any other circumstance, event, relationship or situation in which the personal interest of a person subject to this Code interferes — or even appears to interfere — with the interests of the Company as a whole.

3 Corporate Opportunities

As an officer, director or employee of the Company, you have an obligation to advance the Company's interests when the opportunity to do so arises. If you discover or are presented with a corporate opportunity through the use of corporate property or information or because of your position with the Company, you should first present the corporate opportunity to the Company before pursuing the opportunity in your individual capacity. No officer, director or employee may use corporate property, information or his or her position with the Company for personal gain or compete with the Company while employed by or associated with the Company.

You should disclose to your supervisor the terms and conditions of each business opportunity covered by this Code that you wish to pursue. Your supervisor will contact the Company's Chief Legal Officer and the appropriate management personnel to determine whether the Company wishes to pursue the business opportunity. If the Company waives its right to pursue the business opportunity, you may pursue the business opportunity on the same terms and conditions as originally proposed and consistent with the other ethical guidelines set forth in this Code.

4 Confidential Information

Officers, directors and employees have access to a variety of confidential information regarding the Company. Confidential information includes all non-public information that might be of use to competitors, or, if disclosed, harmful to the Company or its counterparties, collaborators, customers or suppliers. Officers, directors and employees have a duty to safeguard all confidential information of the Company or third parties with which the Company conducts business, except when disclosure is authorized or legally mandated. Unauthorized disclosure of any confidential information is prohibited. Additionally, officers, directors and employees should take appropriate precautions to ensure that confidential or sensitive business information, whether it is proprietary to the Company or another company, is not communicated within the Company except to employees and directors who have a need to know such information to perform their responsibilities for the Company. An officer's, director's and employee's obligation to protect confidential information continues after he or she leaves the Company. Unauthorized disclosure of confidential information could cause competitive harm to the Company or its counterparties, collaborators, customers or suppliers and could result in legal liability to you and the Company. Any questions or concerns regarding whether disclosure of Company information is legally mandated should be promptly referred to the Company's Chief Executive Officer.

5 Competition and Fair Dealing

Officers, directors and employees should not take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair-dealing practice. Officers, directors and employees should maintain and protect any intellectual property licensed from licensors with the same care as they employ with regard to Company-developed intellectual property.

6 Disclosure

The Company strives to ensure that the contents of and the disclosures in the reports and documents that the Company files with the SEC and other public communications shall be full, fair, accurate, timely and understandable in accordance with applicable disclosure standards, including standards of materiality, where appropriate. Each person must:

● 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 independent registered public accountants, governmental regulators, self-regulating organizations and other governmental officials, as appropriate; and

● in relation to his or her area of responsibility, properly review and critically analyze proposed disclosure for accuracy and completeness.

In addition to the foregoing, the Chief Executive Officer and Chief Financial Officer of the Company and each subsidiary of the Company (or persons performing similar functions), and each other person that typically is involved in the financial reporting of the Company must familiarize himself or herself with the disclosure requirements applicable to the Company as well as the business and financial operations of the Company.

Each person must promptly bring to the attention of the Chairman of the Board any information he or she may have concerning (a) significant deficiencies in the design or operation of internal and/or disclosure controls that could adversely affect the Company's ability to record, process, summarize and report financial data or (b) any fraud that involves management or other employees who have a significant role in the Company's financial reporting, disclosures or internal controls.

7 Compliance

It is the Company's obligation and policy to comply with all applicable governmental laws, rules and regulations. All directors, officers and employees of the Company are expected to understand, respect and comply with all of the laws, regulations, policies and procedures that apply to them in their positions with the Company. Employees are responsible for talking to their supervisors to determine which laws, regulations and Company policies apply to their position and what training is necessary to understand and comply with them.

Directors, officers and employees are directed to specific policies and procedures available to persons they supervise.

8 Protection and Use of Company Assets

Employees should protect the Company's assets and ensure their efficient use for legitimate business purposes only and not for any personal benefit or the personal benefit of anyone else. Theft, carelessness and waste have a direct impact on the Company's financial performance. The use of Company funds or assets, whether or not for personal gain, for any unlawful or improper purpose is prohibited. Employees should be aware that Company property includes all data and communications transmitted or received to or by, or contained in, the Company's electronic or telephonic systems. Company property also includes all written communications. Employees and other users of this property should have no expectation of privacy with respect to these communications and data. Employees may not copy, retrieve, modify or forward copyrighted materials, except with permission or as a single copy to reference only. Transmission of customer information should be encrypted as applicable. To the extent permitted by law, the Company has the ability, and reserves the right, to monitor all electronic and telephonic communication. These communications may also be subject to disclosure to law enforcement or government officials.

9 Reporting and Accountability

The Board is responsible for applying this Code to specific situations in which questions are presented to it and has the authority to interpret this Code in any particular situation. The Company requires that officers, directors and employees disclose any situation that reasonably would be expected to give rise to a conflict of interest. If you suspect that you have a situation that could give rise to a conflict of interest, you must report it in writing to the Chairman of the Board. Any person who becomes aware of any existing or potential breach of this Code is required to notify the Chairman of the Board promptly. Failure to do so is, in and of itself, a breach of this Code.

Specifically, each person must:

● Notify the Chairman of the Board promptly of any existing or potential violation of this Code; and

● Not retaliate against any other person for reports of potential violations that are made in good faith.

The Company will follow the following procedures in investigating and enforcing this Code and in reporting on the Code:

● The Board will take all appropriate action to investigate any breaches reported to it.

● Upon determination by the Board that a breach has occurred, the Board (by majority decision) will take or authorize such disciplinary or preventive action as it deems appropriate, after consultation with the Company's General Counsel (or outside counsel), up to and including dismissal or, in the event of criminal or other serious violations of law, notification of the SEC or other appropriate law enforcement authorities.

No person following the above procedure shall, as a result of following such procedure, be subject by the Company or any officer or employee thereof to discharge, demotion suspension, threat, harassment or, in any manner, discrimination against such person in terms and conditions of employment.

It is Company policy that any officer, director or employee who violates this Code will be subject to appropriate discipline, which may include termination of employment or, in the case of a director, a request that such director resign from the Board of Directors. This determination will be based upon the facts and circumstances of each particular situation. If you are accused of violating this Code, you will be given an opportunity to present your version of the events at issue prior to any determination of appropriate discipline, if any. Officers, directors and employees who violate the law or this Code may expose themselves to substantial civil damages, criminal fines and prison terms. The Company may also face substantial fines and penalties and may incur damage to its reputation and standing in the community. Your conduct as a representative of the Company, if it does not comply with the law or with this Code, can result in serious consequences for both you and the Company.

10 Policy Against Retaliation

The Company prohibits retaliation against an officer, director or employee who, in good faith, seeks help or reports known or suspected violations. If an officer, director or employee believes that they have been retaliated against, he or she should speak with the Human Resources Director. Any reprisal or retaliation against an employee because the employee, in good faith, sought help or filed a report will be subject to disciplinary action, including potential termination of employment.

11 Waivers and Amendments

Any waiver (defined below) or an implicit waiver (defined below) from a provision of this Code for the principal executive officer, principal financial officer, principal accounting officer or controller, and persons performing similar functions or any amendment (as defined below) to this Code is required to be disclosed in a current report on Form 8-K filed with the SEC. In lieu of filing a current report on Form 8-K to report any such waivers or amendments, the Company may provide such information on its website and if it keeps such information on the website for at least 12 months and discloses the website address as well as any intention to provide such disclosures in this manner in its most recently filed Annual Report on Form 10-K.

A "waiver" means the approval by the Company's Board of a material departure from a provision of the Code. An "implicit waiver" means the Company's failure to take action within a reasonable period of time regarding a material departure from a provision of the Code that has been made known to an executive officer of the Company. An "amendment" means any amendment to this Code other than minor technical, administrative or other non-substantive amendments hereto.

12 Insider Information and Securities Trading

The Company's directors, officers or employees who have access to material, non-public information are not permitted to use that information for share trading purposes or for any purpose unrelated to the Company's business. It is also against the law to trade or to "tip" others who might make an investment decision based on inside company information. For example, using non-public information to buy or sell the Company shares, options in the Company shares or the shares of any Company supplier, customer or competitor is prohibited. The consequences of insider trading violations can be severe. These rules also apply to the use of material, nonpublic information about other companies (including, for example, our customers, competitors and potential business partners). In addition to directors, officers or employees, these rules apply to such person's spouse, children, parents and siblings, as well as any other family members living in such person's home. All of the Company's directors, officers and employees must familiarize themselves with the Company's Insider Trading Policy.

13 Financial Statements and Other Records

All of the Company's books, records, accounts and financial statements must be maintained in reasonable detail, must appropriately reflect the Company's transactions and must both conform to applicable legal requirements and to the Company's system of internal controls. Unrecorded or "off the books" funds or assets should not be maintained unless permitted by applicable law or regulation. All Company records must be complete, accurate and reliable in all material respects.

Records should always be retained or destroyed according to the Company's record retention policies. In accordance with those policies, in the event of litigation or governmental investigation, please consult the board of directors or the Company's counsel.

14 Improper Influence on Conduct of Audits

No director or officer, or any other person acting under the direction thereof, shall directly or indirectly take any action to coerce, manipulate, mislead or fraudulently influence any public or certified public accountant engaged in the performance of an audit or review of the financial statements of the Company or take any action that such person knows or should know that if successful could result in rendering the Company's financial statements materially misleading. Any person who believes such improper influence is being exerted should report such action to such person's supervisor, or if that is impractical under the circumstances, to any of our directors.

Types of conduct that could constitute improper influence include, but are not limited to, directly or indirectly:

● Offering or paying bribes or other financial incentives, including future employment or contracts for non-audit services;

● Providing an auditor with an inaccurate or misleading legal analysis;

● Threatening to cancel or canceling existing non-audit or audit engagements if the auditor objects to the Company's accounting;

● Seeking to have a partner removed from the audit engagement because the partner objects to the Company's accounting;

● Blackmailing; and

● Making physical threats.

15 Anti-Corruption Laws

The Company complies with the anti-corruption laws of the countries in which it does business, including the U.S. Foreign Corrupt Practices Act (FCPA). Directors, officers and employees will not directly or indirectly give anything of value to government officials, including employees of state-owned enterprises or foreign political candidates. These requirements apply both to Company employees and agents, such as third party sales representatives, no matter where they are doing business. If you are authorized to engage agents, you are responsible for ensuring they are reputable and for obtaining a written agreement to uphold the Company's standards in this area.

16 Violations

All directors, officers and employees have a duty to report any known or suspected violation of this Code, including violations of the laws, rules, regulations or policies that apply to the Company. Violation of this Code is grounds for disciplinary action up to and including termination of employment. Such action is in addition to any civil or criminal liability which might be imposed by any court or regulatory agency.

17 Gifts and Entertainment

The giving and receiving of gifts can be a common business practice. Appropriate business gifts and entertainment are welcome courtesies designed to build relationships and understanding among business partners. Gifts and entertainment, however, should not compromise, or appear to compromise, your ability to make objective and fair business decisions. In addition, it is important to note that the giving and receiving of gifts are subject to a variety of laws, rules and regulations applicable to the Company's operations. These include, without limitation, laws covering the marketing of products, bribery and kickbacks. You are expected to understand and comply with all laws, rules and regulations that apply to activities you engage in when acting on the Company's behalf.

It is your responsibility to use good judgment in this area. As a general rule, you may give or receive gifts or entertainment to or from collaborators, customers or suppliers only if the gift or entertainment is infrequent, modest, intended to further legitimate business goals, in compliance with applicable law, and provided the gift or entertainment would not be viewed as an inducement to or reward for any particular business decision. All gifts and entertainment expenses should be properly accounted for on expense reports.

If you conduct business in other countries, you must be particularly careful that gifts and entertainment are not construed as bribes, kickbacks or other improper payments.

You should make every effort to refuse or return a gift that is beyond these permissible guidelines. If it would be inappropriate to refuse a gift or you are unable to return a gift, you should promptly report the gift to your supervisor. Your supervisor will bring the gift to the attention of the Chief Legal Officer, who may require you to donate the gift to an appropriate community organization. If you have any questions about whether it is permissible to accept a gift or something else of value, contact your supervisor or a principal financial officer for additional guidance.

Note: Gifts and entertainment may not be offered or exchanged under any circumstances to or with any employees of the United States or any foreign government or state, city, provincial or local governments. If you have any questions about this policy, contact your supervisor or the Company's Chief Legal Officer for additional guidance.

18 Other Policies and Procedures

Any other policy or procedure set out by the Company in writing or made generally known to employees, officers or directors of the Company prior to the date hereof or hereafter are separate requirements and remain in full force and effect.

19 Inquiries

This Code is not intended to be a comprehensive rulebook and cannot address every situation that you may face. If you feel uncomfortable about a situation or have any doubts about whether it is consistent with the Company's ethical standards, seek help. All inquiries and questions in relation to this Code or its applicability to particular people or situations should be addressed to the Company's Secretary, or such other compliance officer as shall be designated from time to time by the Company.

20 Conclusion

This Code contains general guidelines for conducting the business of the Company consistent with the highest standards of business ethics. If you have any questions about these guidelines, please contact your supervisor or the Company's Chief Legal Officer. The Company expects all of its employees and directors to adhere to these standards.

This Code, as applied to the Company's principal financial officers, shall be our "code of ethics" within the meaning of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder.

This Code and the matters contained herein are neither a contract of employment nor a guarantee of continuing Company policy. The Company reserves the right to amend, supplement or discontinue this Code and the matters addressed herein, without prior notice, at any time.

**PROVISIONS FOR CHIEF EXECUTIVE OFFICER AND SENIOR FINANCIAL OFFICERS**

The Chief Executive Officer and all senior financial officers, including the Chief Financial Officer and principal accounting officer, are bound by the provisions set forth therein relating to ethical conduct, conflicts of interest, and compliance with law. In addition to the Code, the Chief Executive Officer and senior financial officers are subject to the following specific policies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Act with honesty and integrity, avoiding actual or apparent conflicts between personal, private interests and the interests of the Company, including receiving improper personal benefits as a result of his or her position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Disclose to the Board (and the Chief Executive Officer in the case of a senior financial officer) any material transaction or relationship that reasonably could be expected to give rise to a conflict of interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Perform responsibilities with a view to causing periodic reports and documents filed with or submitted to the SEC and all other public communications made by the Company to contain information that is accurate, complete, fair, objective, relevant, timely and understandable, including full review of all annual and quarterly reports.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Comply with laws, rules and regulations of federal, state and local governments applicable to the Company and with the rules and regulations of private and public regulatory agencies having jurisdiction over the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Act in good faith, responsibly, with due care, competence and diligence, without misrepresenting or omitting material facts or allowing independent judgment to be compromised or subordinated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Respect the confidentiality of information acquired in the course of performance of his or her responsibilities except when authorized or otherwise legally obligated to disclose any such information; not use confidential information acquired in the course of performing his or her responsibilities for personal advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Share knowledge and maintain skills important and relevant to the needs of the Company, its stockholders and other constituencies and the general public.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Proactively promote ethical behavior among subordinates and peers in his or her work environment and community.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Use and control all corporate assets and resources employed by or entrusted to him or her in a responsible manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Not use corporate information, corporate assets, corporate opportunities or his or her position with the Company for personal gain; not compete directly or indirectly with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Comply in all respects with the Company's Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Advance the Company's legitimate interests when the opportunity arises.

The Board will investigate any reported violations and will oversee an appropriate response, including corrective action and preventative measures. Any officer who violates this Code will face appropriate, case specific disciplinary action, which may include demotion or discharge.

Any request for a waiver of any provision of this Code must be in writing and addressed to the Chairman of the Board. Any waiver of this Code will be disclosed promptly on Form 8-K or any other means approved by the SEC.

It is the policy of the Company that each officer covered by this Code shall acknowledge and certify to the foregoing annually and file a copy of such certification with the Chairman of the Board of Directors.

**ACKNOWLEDGEMENT**

I have read and understand the foregoing Code. I hereby certify that I am in compliance with the foregoing Code, and I will comply with the Code in the future. I understand that any violation of the Code will subject me to appropriate disciplinary action, which may include demotion or discharge.

---

| |
|:---|
| Dated: |
| Name: |
| Signature: |
| Title: |

---

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the incorporation in this Registration Statement on Form S-1 of our report dated October 11, 2022, relating to the financial statements T1V, Inc. for the years ended December 31, 2021 and 2020 and to all references to our firm included in this Registration Statement.

/s/ BF Borgers CPA PC

Certified Public Accountants

Lakewood, CO

January 24, 2023

## Exhibit 99.1

**Exhibit 99.1**

**FORM OF AUDIT COMMITTEE CHARTER OF T1V, INC.**

**Adopted: [__], 2022**

I. Purpose.

The purpose of the Audit Committee (the "**Committee**") of the Board of Directors (the "**Board**") of T1V, Inc., a Delaware corporation (the "**Company**") is to assist the Board with oversight of the Company's accounting and financial reporting processes and the audit of the Company's financial statements.

The primary role of the Committee is to oversee the Company's financial reporting and disclosure process. To fulfill this obligation, the Committee relies on: (i) the Company's named executive officers and their employee designees (referred to herein as "**management**") for the preparation and accuracy of the Company's financial statements; (ii) both management and the Company's personnel responsible for establishing effective internal controls and procedures to ensure the Company's compliance with accounting standards, financial reporting procedures and applicable laws and regulations; and (iii) the Company's independent auditors for an unbiased, diligent audit or review, as applicable, of the Company's financial statements and the effectiveness of the Company's internal controls. The members of the Committee are not employees of the Company and are not responsible for conducting the audit or performing other accounting procedures.

II. Membership.

The Committee shall consist of three (3) or more directors. Each member of the Committee shall be "independent" in accordance with the requirements of Rule 10A-3 of the Securities Exchange Act of 1934 and the rules of the Nasdaq Stock Market. No member of the Committee can have participated in the preparation of the Company's financial statements at any time during the past three years.

Each member of the Committee must be financially literate and able to read and understand fundamental financial statements, including the Company's balance sheet, income statement and cash flow statement. At least one member of the Committee must have past employment experience in finance or accounting, requisite professional certification in accounting or other comparable experience or background that leads to financial sophistication. At least one member of the Committee must be an "audit committee financial expert" as defined in Item 407(d)(5)(ii) of Regulation S-K. A person who satisfies this definition of audit committee financial expert will also be presumed to have financial sophistication.

No Committee member shall simultaneously serve on the audit committees of more than two other public companies unless the Board determines that such simultaneous service does not impair the ability of such member to effectively serve on the Committee and such determination is disclosed in accordance with applicable laws, rules and regulations (including the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, as amended, as well as listing standards of the Nasdaq Stock Market.

The members of the Committee shall be appointed by the Board and shall serve for such term or terms as the Board may determine or until earlier resignation, removal or death. The Board may remove any member from the Committee at any time with or without cause; provided, however, that if removing a member or members of the Committee would cause the Committee to have fewer than three (3) members, then the Board must at the same time appoint enough additional members to the Committee so that the Committee will have at least three (3) qualified members.

III. Duties and Responsibilities.

The Committee shall have the following authority and responsibilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. To: (i) select and retain an independent registered public accounting firm to act as the Company's independent auditors for the purpose of auditing the Company's annual financial statements, books, records, accounts and internal controls over financial reporting; (ii) set the compensation of the Company's independent auditors; (iii) oversee the work done by the Company's independent auditors; and (iv) terminate the Company's independent auditors, if necessary in the Committee's determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. To select, retain, compensate, oversee and terminate, if necessary, any other registered public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. To (i) approve all audit engagement fees and terms (with the power to sign any engagement letter providing for the same on behalf of the Company) and (ii) pre-approve all audit and permitted non-audit and tax services that may be provided by the Company's independent auditors or other registered public accounting firms, and establish policies and procedures for the Committee's pre-approval of permitted services by the Company's independent auditors or other registered public accounting firms on an on-going basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. At least annually, to obtain and review a report by the Company's independent auditors that describes: (i) the accounting firm's internal quality control procedures; (ii) any material issues raised by the most recent internal quality control review, peer review or Public Company Accounting Oversight Board ("**PCAOB**") review or inspection of the firm or by any other inquiry or investigation by governmental or professional authorities in the past five years regarding one or more audits carried out by the firm and any steps taken to deal with any such issues; and (iii) all relationships between the firm and the Company; and to discuss with the independent auditors this report and any relationships or services that may impact the objectivity and independence of the auditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. At least annually, to evaluate the qualifications, performance and independence of the Company's independent auditors, including an evaluation of the lead audit partner; and to assure the regular rotation of the lead audit partner at the Company's independent auditors and consider regular rotation of the accounting firm serving as the Company's independent auditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. To review and discuss with the Company's independent auditors: (i) the auditors' responsibilities under generally accepted auditing standards and the responsibilities of management in the audit process; (ii) the overall audit strategy; (iii) the scope and timing of the annual audit; (iv) any significant risks identified during the auditors' risk assessment procedures; and (v) when completed, the results, including significant findings, of the annual audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. To review and discuss with the Company's independent auditors: (i) all critical accounting policies and practices to be used in the audit; (ii) all alternative treatments of financial information within generally accepted accounting principles ("**GAAP**") that have been discussed with management, the ramifications of the use of such alternative treatments and the treatment preferred by the auditors; and (iii) other material written communications between the auditors and management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. To review and discuss with the Company's independent auditors and management: (i) any audit problems or difficulties, including difficulties encountered by the Company's independent auditors during their audit work (such as restrictions on the scope of their activities or their access to information); (ii) any significant disagreements with management; and (iii) management's response to these problems, difficulties or disagreements; and to resolve any disagreements between the Company's auditors and management.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. To review with management and the Company's independent auditors: (i) any major issues regarding accounting principles and financial statement presentation, including any significant changes in the Company's selection or application of accounting principles; (ii) any significant financial reporting issues and judgments made in connection with the preparation of the Company's financial statements, including the effects of alternative GAAP methods; and (iii) the effect of regulatory and accounting initiatives and off-balance sheet structures on the Company's financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J. To inform the Company's independent auditors as requested as to the Committee's understanding of the Company's relationships and transactions with related parties that are significant to the Company; and to review and discuss with the Company's independent auditors the auditors' evaluation of the Company's identification of, accounting for, and disclosure of its relationships and transactions with related parties, including any significant matters arising from the audit regarding the Company's relationships and transactions with related parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;K. To review with management and the Company's independent auditors: (i) the adequacy and effectiveness of the Company's internal controls, including any significant deficiencies or material weaknesses in the design or operation of, and any material changes in, the Company's internal controls; (ii) any special audit steps adopted in light of any material control deficiencies; (iii) any fraud involving management or other employees with a significant role in such internal controls; (iv) the independent auditors' attestation (as required) of the report on internal controls and the required management certifications to be included in or attached as exhibits to the Company's Annual Report on Form 10-K or quarterly report on Form 10-Q, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L. To review and discuss with the Company's independent auditors any other matters required to be discussed by applicable requirements of the PCAOB and the Securities and Exchange Commission ("**SEC**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M. To review and discuss with the Company's independent auditors and management the Company's annual audited financial statements (including the related notes), the form of audit opinion to be issued by the auditors on the financial statements and the disclosure under "Management's Discussion and Analysis of Financial Condition and Results of Operations" to be included in the Company's Annual Report on Form 10-K before such Form 10-K is filed, and recommend to the Board whether the audited financial statements should be included in the Company's Form 10-K and whether the Form 10-K should be filed with the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N. To produce the audit committee report required to be included in the Company's annual or other proxy statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O. To review and discuss with the Company's independent auditors and management the Company's quarterly financial statements and the disclosure under "Management's Discussion and Analysis of Financial Condition and Results of Operations" to be included in the Company's Quarterly Report on Form 10-Q before such Form 10-Q is filed; and to review and discuss the Form 10-Q for filing with the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;P. To recommend to the Board policies for the Company's hiring of employees or former employees of the Company's independent auditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Q. To establish and oversee Company procedures for the receipt, retention and treatment of complaints received about the Company regarding accounting, internal accounting controls or auditing matters, or instances of fraud or unlawful conduct, and for the confidential, anonymous submission by Company employees of concerns regarding such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R. To review and discuss with management the material risks faced by the Company and the policies, guidelines and process by which management assesses and manages the Company's risks, including the Company's major financial risk exposures and the steps management has taken to monitor and control such exposures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S. To oversee the Company's compliance with applicable laws and regulations and to review and oversee the Company's policies, procedures and programs designed to promote and monitor such legal and regulatory compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. To review with the Company's legal counsel, legal and regulatory matters, including legal cases against or regulatory investigations of the Company that could have a significant impact on the Company's financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U. To review, approve and oversee any transaction between the Company and any related person (as defined in Item 404 of Regulation S-K promulgated by the SEC) and any other potential conflict of interest situations on an ongoing basis, in accordance with Company policies and procedures, and to develop policies and procedures for the Committee's approval of related party transactions.

IV. Outside Advisors.

The Committee shall have the authority, in its sole discretion, to retain and obtain the advice and assistance of independent outside counsel and such other advisors as it deems necessary to fulfill its duties and responsibilities under this Charter. The Committee shall set the compensation, and oversee the work, of any outside counsel and other advisors. The chairperson of the Committee, at the request of any member of the Committee, may request any officer, employee or advisor of the Company or the Company's independent auditor to attend a meeting of the Committee or otherwise respond to Committee requests.

The Committee shall receive appropriate funding from the Company, as determined by the Committee in its capacity as a committee of the Board, for the payment of compensation to the Company's independent auditors, any other accounting firm engaged to perform services for the Company, any outside counsel and any other advisors to the Committee.

V. Structure and Operations

The Board shall designate a member of the Committee as the chairperson. The Committee shall meet at least four (4) times a year, on a quarterly basis, or more frequently as required, at such times and places as it deems necessary to fulfill its responsibilities. The Committee shall report to the Board on its discussions and actions, including any significant issues or concerns that arise at its meetings, and shall make recommendations to the Board as appropriate. The Committee is governed by the same rules regarding meetings (including meetings in person or by telephone or other similar communications equipment), action without meetings, notice, waiver of notice, and quorum and voting requirements as are applicable to the Board as provided for in the Company's bylaws, as amended and/or restated from time to time.

The Committee shall meet separately, and periodically, with management, the Company's chief internal auditor and representatives of the Company's independent auditors, and shall invite such individuals to its meetings as it deems appropriate, to assist in carrying out its duties and responsibilities. However, the Committee shall meet regularly without such individuals present.

The Committee shall review this Charter at least annually and recommend any proposed changes to the Board for approval.

The Committee shall maintain minutes of its meetings and records relating to those meetings, which will be maintained with the books and records of the Company.

VI. Delegation of Authority.

The Committee shall have the authority to delegate any of its responsibilities, along with the authority to take action in relation to such responsibilities, to one or more subcommittees as the Committee may deem appropriate in its sole discretion.

VII. Performance Evaluation.

The Committee shall conduct or otherwise participate in/respond to an annual evaluation of the performance of its duties under this Charter and shall present, or otherwise participate in, the results of the evaluation to the Board. The Committee shall conduct this evaluation in such manner as it deems appropriate.

\# \# \#

## Exhibit 99.2

**Exhibit 99.2**

**FORM OF CHARTER OF THE COMPENSATION COMMITTEE** 

**OF THE BOARD OF DIRECTORS**

**OF T1V, INC.**

**Adopted: [__], 2022**

I. <u>Purpose</u> 

The Compensation Committee ("**Committee**") of the Board of Directors ("**Board**") of T1V, Inc., a Delaware corporation ("**Company**"), is appointed by the Board to: (a) assist the Board in discharging its responsibilities relating to the compensation of the Company's directors and executive officers; and (b) produce an annual report on executive officer compensation for inclusion in the Company's annual proxy statement, in accordance with applicable rules and regulations. The Committee shall undertake those specific duties and responsibilities enumerated below, and such other duties as the Board may from time to time prescribe. All powers of the Committee are subject to the restrictions designated in the Company's bylaws and by applicable law, each as amended and/or restated from time to time.

II. <u>Committee Membership</u> 

Committee members shall be appointed by the Board and shall serve until their respective successors are duly elected and qualified or until their earlier resignation, disqualification, retirement, death or removal, provided, however, that if removing or disqualifying a member or members of the Committee would cause the Committee to have fewer than two (2) members, then the Board must, at the same time appoint enough additional members to the Committee so that the Committee will have at least two (2) members, as set forth below. Committee members may be removed at any time by the Board. Committee members may resign from the Committee at any time without resigning from the Board.

None of the directors to be appointed as Committee members have served within the past year, or shall serve as a member of the Board of Directors or Compensation Committee of any entity that has one or more executive officers serving on the Company's Board of Directors.

The Committee shall consist of no fewer than two (2) members of the Board. Each member of the Committee shall meet the independence requirements of the Nasdaq Stock Market ("**Nasdaq**"), the definition of a "non-employee director" under Rule 16b-3 under the Securities Exchange Act of 1934, as amended, the requirements of Section 162(m) of the Internal Revenue Code for "outside directors," and any other applicable regulatory requirements.

The Committee may form and delegate authority to subcommittees from time to time as it sees fit, provided that the subcommittees are composed entirely of directors who satisfy the applicable independence requirements of the Company's corporate governance guidelines and the Nasdaq.

III. <u>Structure and Meetings</u> 

The Committee shall conduct its business in accordance with this Charter, the Company's bylaws (as amended and/or restated from time to time) and any direction by the Board. The Board may appoint a member of the Committee to serve as the chairperson of the Committee ("**Chair**"); if the Board does not appoint a Chair, the Committee members may designate a Chair by their majority vote. The Chair will set the agenda for Committee meetings and conduct the proceedings of those meetings.

The Committee shall meet from time to time at a time and place to be determined by the Chair, with meetings to occur, or actions to be taken by unanimous written consent, when deemed necessary or desirable by the Committee or its Chair. Members of the Committee may participate in a meeting of the Committee by means of conference call or similar communications equipment by means of which all persons participating in the meeting can hear each other, and such participation shall constitute presence in person at such meeting.

The Chair will preside at each meeting and will set the agenda of items to be addressed at each meeting. The Chair (or other member designated by the Chair or the Committee in the Chair's absence) shall regularly report to the full Board on the proceedings and any actions that the Committee takes. The Committee will maintain written minutes of its meetings, which minutes will be maintained with the books and records of the Company.

As necessary or desirable, the Chair may invite any director, officer or employee of the Company, or other persons whose advice and counsel are sought by the Committee, to be present at the meetings of the Committee, consistent with the maintenance of confidentiality of compensation discussions. The Company's Chief Executive Officer (or President, if the President is then serving as the principal executive officer of the Company) ("**CEO**") should not be present during voting or deliberations on the CEO's compensation.

IV. <u>Committee Authority and Responsibilities</u> 

The Committee shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 Review and approve the Company's compensation programs and arrangements applicable to its executive officers, including without limitation salary, incentive compensation, equity compensation and perquisite programs, and amounts to be awarded or paid to individual officers under those programs and arrangements, or make recommendations to the Board regarding approval of the same. Without limiting the generality of the foregoing, the Committee shall review and approve all other employment-related contracts, agreements or arrangements between the Company and its officers and all other contracts, agreements or arrangements under which compensatory benefits are awarded or paid to, or earned or received by, the Company's officers, including, without limitation, employment, severance, change of control and similar agreements or arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 Determine the objectives of the Company's executive officer compensation programs, identify what the programs are designed to reward, and modify (or recommend that the Board modify) the programs as necessary and consistent with such objectives and intended rewards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 Ensure appropriate corporate performance measures and goals regarding executive officer compensation are set and determine the extent to which they are achieved and any related compensation earned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 Consistent with the foregoing, at least annually review and approve the Company's goals and objectives relevant to CEO compensation, evaluate the CEO's performance in light of such goals and objectives, and determine and approve the CEO's compensation level based on this evaluation. In determining the long-term incentive component of the CEO's compensation, the Committee will consider the Company's performance and the value of similar incentive awards received by CEOs at companies of comparable size and comparable industries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 Review and approve any new equity compensation plan or any material change to an existing plan where stockholder approval has not been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 Review and approve any stock option award or any other type of equity-based or equity-linked award as may be required for complying with any tax, securities, or other regulatory (including Nasdaq) requirement, or otherwise determined to be appropriate or desirable by the Committee or Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 If required, review and discuss with the Company's named executive officers and their employee designees (referred to herein as "**management**") the "Compensation Discussion and Analysis" required to be included in the Company's annual proxy statement or Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "**Commission**"), and recommend to the Board whether to include such "Compensation Discussion and Analysis" in such proxy statement or annual report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 Produce a Committee report on executive officer compensation, as required to be included in the Company's annual proxy statement or Annual Report on Form 10-K filed with the Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 Review and discuss any compensation-related disclosures that may be required in the Company's annual proxy statement or Annual Report on Form 10-K regarding such risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10 Oversee the Company's submissions to a stockholder vote on executive compensation matters, including advisory votes on executive compensation and the frequency of such votes, incentive and other executive compensation plans, and amendments to such plans. Review the results of stockholder votes on executive compensation matters and to the extent the Committee determines it appropriate to do so, take such results into consideration in connection with the review and approval of executive officers' compensation. Discuss with management the appropriate engagement with stockholders and proxy advisory firms in response to such votes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11 Perform such other functions and have such other powers consistent with this Charter, the Company's bylaws and applicable law as the Committee or the Board may deem appropriate.

V. <u>Performance Evaluation</u> 

The Committee shall annually review and assess the adequacy of this Charter and recommend any proposed changes to the Board for approval. The Committee shall also perform an annual evaluation of its own performance, which shall compare the performance of the Committee with the requirements of this Charter. The performance evaluation by the Committee shall be conducted in such manner as the Committee deems appropriate. The report to the Board may take the form of an oral report by the Chair or any other member of the Committee designated by the Committee to make this report.

VI. <u>Committee Resources; Assessing Advisor Independence</u> 

The Committee shall have the resources and authority appropriate to discharge its duties and responsibilities, including the authority to select, retain and terminate independent legal counsel and other experts or consultants, as it deems appropriate, without seeking approval of the Board or management, including the authority to approve the fees payable to such counsel, experts or consultants and any other term of retention. The Committee also shall have the sole authority to retain and and/or replace, as needed, compensation consultants to provide independent advice to the Committee, and the sole authority to approve such consultants' fees and other terms and conditions of retention. The Company shall provide for appropriate funding for the payment of administrative expenses of the Committee that are necessary or appropriate in carrying out its duties. The Committee may select a compensation consultant, legal counsel or other adviser to the Committee only after taking into consideration all factors relevant to that person's independence from management, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 The provision of other services to the Company by the person that employs the compensation consultant, legal counsel or other adviser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 The amount of fees received from the Company by the person that employs the compensation consultant, legal counsel or other adviser, as a percentage of the total revenue of the person that employs the compensation consultant, legal counsel or other adviser;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 The policies and procedures of the person that employs the compensation consultant, legal counsel or other adviser that are designed to prevent conflicts of interest;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 Any business or personal relationship of the compensation consultant, legal counsel or other adviser with a member of the Committee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 Any securities of the Company owned by the compensation consultant, legal counsel or other adviser; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 Any business or personal relationship of the compensation consultant, legal counsel, other adviser or the person employing the adviser with an executive officer of the Company.

The Committee shall conduct the independence assessment with respect to any compensation consultant, legal counsel or other adviser that provides advice to the Committee, other than: (i) in-house legal counsel; and (ii) any compensation consultant, legal counsel or other adviser whose role is limited to the following activities for which no disclosure would be required under Item 407(e)(3)(iii) of Regulation S-K promulgated by the Commission: consulting on any broad-based plan that does not discriminate in scope, terms, or operation, in favor of executive officers or directors of the Company, and that is available generally to all salaried employees; or providing information that either is not customized for the Company or that is customized based on parameters that are not developed by the compensation adviser, and about which the compensation advisor does not provide advice.

Nothing herein requires a compensation consultant, legal counsel or other compensation adviser to be independent, only that the Committee consider the enumerated independence factors before selecting or receiving advice from a compensation consultant, legal counsel or other compensation adviser. The Committee may select or receive advice from any compensation consultant, legal counsel or other compensation adviser it prefers, including ones that are not independent, after considering the six independence factors outlined above.

The chairperson of the Committee, at the request of any member of the Committee, may request that any officer, employee or advisor of the Company attend a meeting of the Committee or otherwise respond to Committee requests.

Nothing herein shall be construed: (1) to require the Committee to implement or act consistently with the advice or recommendations of the compensation consultant, legal counsel or other adviser to the Committee; or (2) to affect the ability or obligation of the Committee to exercise its own judgment in fulfillment of its duties.

VII. <u>Impact of Charter</u> 

This Charter does not change or augment the obligations of the Company, the Board, the Committee or its directors or management under the federal or state securities laws or create new standards for determining whether the Board, the Committee or the Company's directors or management have fulfilled their duties, including fiduciary duties, under applicable law.

VIII. <u>Disclosure of Charter</u> 

This Charter will be made available on the Company's website.

\# \# \#

## Exhibit 99.3

**Exhibit 99.3**

**FORM OF CHARTER OF THE NOMINATING AND CORPORATE GOVERNANCE <br> COMMITTEE OF THE BOARD OF DIRECTORS OF**

**T1V, INC.**

**Adopted: [__], 2022**

I. Authority and Purpose

The Nominating and Corporate Governance Committee ("**Committee**") of the Board of Directors ("**Board**") of T1V, Inc., a Delaware corporation (the "**Company**"), is appointed by the Board to carry out the responsibilities delegated by the Board relating to the Company's director nominations process and procedures, developing and maintaining the Company's corporate governance policies and any related matters required by the federal securities laws. The Committee shall undertake those specific duties and responsibilities listed below and such other duties as the Board may from time to time prescribe. All powers of the Committee are subject to the restrictions designated in the Company's bylaws and by applicable law, each as amended and/or restated from time to time.

II. Membership

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Committee shall consist of three (3) or more directors serving on the Board. A majority of the members of the Committee shall be "independent" as defined under the rules of the U.S. Securities and Exchange Commission, the NASDAQ Stock Market or any other securities exchange on which any of the Company's securities are listed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The members of the Committee shall be appointed by the Board from time to time. The members of the Committee shall serve for such term or terms as the Board may determine or until earlier resignation, death or other termination of service on the Board. The Board may remove any member from the Committee at any time with or without cause. If removing or disqualifying a member or members of the Committee would cause the Committee to have fewer than three (3) members, then the Board must, at the same time, appoint enough additional members to the Committee so that the Committee will have at least three (3) members.

III. Duties, Authority and Responsibilities

The Committee shall have the following authority and responsibilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. To determine the qualifications, qualities, skills, and other expertise required to be a director and to develop, and recommend to the Board for its approval, criteria to be considered in selecting nominees for director, which criteria shall include diversity on the Board (the "**Director Criteria**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. To identify and screen individuals qualified to become members of the Board, consistent with the Director Criteria. The Committee shall consider any nominations of director candidates validly made by Company stockholders in accordance with applicable laws, rules and regulations and the provisions of the Company's charter documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. To select and approve the nominees for director to be submitted to a stockholder vote at each annual meeting of stockholders, including, without limitation, reviewing and evaluating the performance of incumbent directors whose term of office is scheduled to expire at the next annual meeting of shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. To review the structure and duties of the Board's committees (including monitoring the functions and operations of all Board committees) and to make recommendations to the Board as to which directors should serve on such committees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. If a vacancy on the Board and/or any Board committee occurs, to identify and recommend to the Board candidates to fill such vacancy either by election by stockholders or appointment by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. To assess actual or potential conflicts of interest regarding Board members, candidates for service on the Board and the Company's officers and employees, including, without limitation, whether such conflicts would impair the independence of the subject director or director candidate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. To assess (in conjunction with the Audit Committee of the Board as required or appropriate) related party transactions involving the Company and any director, officer or employee of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. To oversee the annual board evaluation process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. To develop and monitor the Board's succession plans for the Company's senior executive officers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J. To oversee the diversity of the members of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;K. To annually review and recommend changes to this Charter for consideration by the full Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L. To ensure directors are properly on-boarded through an orientation program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M. To review and discuss with management the Company's required or other public disclosure regarding the operations of the Committee and director independence, and to recommend that this disclosure be, included in the Company's proxy statement or annual report on Form 10-K, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N. To monitor compliance with the Company's Code of Ethics (the "**Code**"), to investigate any alleged breach or violation of the Code and to enforce the provisions of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O. To take on any other matters and take on any actions that may, from time to time, be delegated to the Committee by the Board.

IV. Outside Advisors

The Committee shall have the authority, in its sole discretion, to select, retain and obtain the advice of a director search firm as necessary to assist with the execution of its duties and responsibilities as set forth in this Charter. The Committee shall set the compensation, and oversee the work, of the director search firm. The Committee shall have the authority, in its sole discretion, to retain and obtain the advice and assistance of outside legal counsel and such other advisors as it deems necessary to fulfill its duties and responsibilities under this Charter. The Committee shall set the compensation, and oversee the work, of its outside legal counsel and other advisors. The Committee shall receive appropriate funding from the Company, as determined by the Committee in its capacity as a committee of the Board, for the payment of compensation to its outside consultants, legal counsel and any other advisors.

V. Structure and Operations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Board shall designate a member of the Committee as the Chairperson. The Committee shall meet at least two (2) times a year, on a bi-annually basis, or more frequently as required, at such times and places as it deems necessary to fulfill its responsibilities. The Committee shall report regularly to the Board regarding its actions and make recommendations to the Board as appropriate. The Committee is governed by the same rules regarding meetings (including meetings in person or by telephone or other similar communications equipment), action without meetings, notice, waiver of notice, and quorum and voting requirements as are applicable to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. A majority of the membership of the Committee shall constitute a quorum, and all actions of the Committee shall require the affirmative vote of a majority of the membership of the Committee. Committee members shall not simultaneously serve on more than two other public companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The Committee shall have the authority to conduct or authorize investigations into any matter within the scope of its responsibilities as it shall deem appropriate, including the authority to request any director, officer, employee or advisor of the Company, or other persons whose advice and counsel are sought by the Committee, to meet with the Committee or any advisors engaged by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. The Committee shall review this Charter at least annually and recommend any proposed changes to the Board for approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. The Committee shall maintain minutes of its meetings and records relating to those meetings, will be maintained with the books and records of the Company.

VI. Delegation of Authority

The Committee shall have the authority to delegate any of its responsibilities, along with the authority to take action in relation to such responsibilities, to one or more subcommittees as the Committee may deem appropriate in its sole discretion.

VII. Impact of Charter

This Charter does not change or augment the obligations of the Company, the Board, the Committee or its directors or management under the federal or state securities laws or create new standards for determining whether the Board, the Committee or the Company's directors or management have fulfilled their duties, including fiduciary duties, under applicable law.

VIII. Performance Evaluation

The Committee shall annually review and assess the adequacy of this Charter and recommend any proposed changes to the Board for approval. The Committee shall also perform an annual evaluation of its own performance, which shall compare the performance of the Committee with the requirements of this Charter. The performance evaluation by the Committee shall be conducted in such manner as the Committee deems appropriate. The report to the Board may take the form of an oral report by the Chair or any other member of the Committee designated by the Committee to make this report.

IX. Delegation of Duties and Committee Resources

In fulfilling its responsibilities, the Committee shall be entitled to delegate any or all of its responsibilities to a subcommittee of the Committee, to the extent consistent with the Company's certificate of incorporation, bylaws and applicable law and rules of markets in which the Company's securities then trade.

The chairperson of the Committee, at the request of any member of the Committee, may request that any officer, employee or advisor of the Company attend a meeting of the Committee or otherwise respond to Committee requests

X. Disclosure of Charter

This Charter will be made available on the Company's website.

**# # #**

## Exhibit 99.4

**Exhibit 99.4**

**Consent to be Named as a Director Nominee**

In connection with the filing by T1V, Inc. of the Registration Statement on Form S-1 with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent, pursuant to Rule 438 of the Securities Act, to being named as a nominee to the board of directors of T1V, Inc. in the Registration Statement and any and all amendments and supplements thereto. I also consent to the filing of this consent as an exhibit to such Registration Statement and any amendments thereto.

Dated: January 17, 2023

---

| |
|:---|
| /s/ David Almagor |
| Name: David Almagor |

---

## Exhibit 99.5

**Exhibit 99.5**

**Consent to be Named as a Director Nominee**

In connection with the filing by T1V, Inc. of the Registration Statement on Form S-1 with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent, pursuant to Rule 438 of the Securities Act, to being named as a nominee to the board of directors of TlV, Inc. in the Registration Statement and any and all amendments and supplements thereto. I also consent to the filing of this consent as an exhibit to such Registration Statement and any amendments thereto.

Dated: January 20, 2023

---

| |
|:---|
| /s/ Tracy S. Clifford |
| Name: Tracy S. Clifford |

---

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Table**

**S-1**

(Form Type)

**T1V, Inc.**

(Exact Name of Registrant as Specified in its Charter)

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount to be Registered <sup>(1)</sup>** | **Proposed Maximum Offering Price Per Unit** | **Proposed Maximum Aggregate Offering Price<sup>(1)(2)</sup>** | **Fee Rate** | **Amount of Registration Fee <sup>(3)</sup>** | **Carry Forward Form Type** | **Carry Forward File Number** | **Carry Forward Initial effective date** | **Filing Fee Previously Paid In Connection with Unsold Securities to be Carried Forward** |
| Other | Units, each consisting of one share of Class A common stock, $0.001 par value, and one Warrant | Rule 457(o) | 3684466 |  |  |  |  |  |  |  |  |
| Equity | Class A common stock, par value $0.001 per share, included in the Units<sup>(4)</sup> | Rule 457(o) | 3684466 | $6.15 | $22659465 | 0.0001102 | $2497 |  |  |  |  |
| Equity | Warrants to purchase shares of Class A common stock, included in the Units<sup>)(4)</sup> | Rule 457(g) | 3684466 |  |  | -<sup>(5)</sup> |  |  |  |  |  |
| Equity | Class A common stock issuable upon exercise of the Warrants included in the Units<sup>(4)</sup> | Rule 457(o) | 3684466 | $6.77 | $24925412 | 0.0001102 | $2746 |  |  |  |  |
| Equity | Representative's warrants to purchase shares of Class A common stock | Rule 457(g) | 160194 |  |  | -<sup>(5)</sup> |  |  |  |  |  |
| Equity | Class A common stock issuable upon exercise of the Representative's <br> Warrants<sup>(6)</sup> | Rule 457(o) | 160194 | $6.77 | $1083712 | 0.0001102 | $119 |  |  |  |  |
| **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $48668590 |  | $5363 |  |  |  |  |
| **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  |  |  |  |  |  |
| **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  | - |  |  |  |  |
| **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $5363 |  |  |  |  |

---

(1) Estimated solely for the purpose of calculating the registration
fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the "Securities Act").

&nbsp;&nbsp;&nbsp;&nbsp;(2) Pursuant to Rule 416(a) under the Securities Act, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.

(3) Calculated pursuant to Rule 457(o) under the Securities Act based on an estimate of the proposed maximum offering price.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Includes shares of Class A common stock and warrants to purchase shares of Class A common stock which may be issued upon exercise of a 45-day option granted to the underwriters to cover over-allotments, if any.

&nbsp;&nbsp;&nbsp;&nbsp;(5) No separate registration fee required pursuant to Rule 457(g) under the Securities Act.

(6) Estimated solely for the purposes of calculating the registration
fee pursuant to Rule 457(g) under the Securities Act. We have agreed to issue, upon the closing of this offering, representative's
warrants to EF Hutton, division of Benchmark Investments, LLC (or its
designees) entitling it to purchase up to 5% of the aggregate shares of Class A Common Stock (excluding the shares subject to the over-allotment
option) in this offering. We have calculated the proposed maximum aggregate offering price of the Class A common stock underlying the
representative's warrants by assuming that such warrants are exercisable at a price per share equal to 110% of the price per share
sold in this offering.