# EDGAR Filing Document

**Accession Number:** 0001682265
**File Stem:** 0001477932-25-004534
**Filing Date:** 2025-6
**Character Count:** 48662
**Document Hash:** 3419f1491826d57458f873b036e8c997
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-25-004534.hdr.sgml**: 20250612

**ACCESSION NUMBER**: 0001477932-25-004534

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250606

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250612

**DATE AS OF CHANGE**: 20250612

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Onar Holding Corp
- **CENTRAL INDEX KEY:** 0001682265
- **STANDARD INDUSTRIAL CLASSIFICATION:** CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 472200506
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56012
- **FILM NUMBER:** 251043005

**BUSINESS ADDRESS:**
- **STREET 1:** 8605 SANTA MONICA BOULEVARD
- **STREET 2:** PMB 36522
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90069
- **BUSINESS PHONE:** 213-437-3081

**MAIL ADDRESS:**
- **STREET 1:** 8605 SANTA MONICA BOULEVARD
- **STREET 2:** PMB 36522
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90069

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Reliant Holdings, Inc.
- **DATE OF NAME CHANGE:** 20160812

?xml version='1.0' encoding='ASCII'? onar_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): **<u>June 6, 2025</u>**

---

| |
|:---|
| **ONAR HOLDING CORPORATION** |
| (Exact name of registrant as specified in its charter)  |

---

---

| | | |
|:---|:---|:---|
| **Nevada** | **00-56012** | **47-2200506** |
| (State or other jurisdiction  | (Commission  | (IRS Employer  |
| of incorporation)  | File Number)  | Identification No.)  |

---

**<u>990 Biscayne Blvd, 5th Floor, Miami, FL 33132</u>**

(Address of principal executive offices, including zip code)

**<u>(213) 437-3081</u>**

(Registrant's Telephone Number, Including Area Code)

**<u>8605 Santa Monica Boulevard, PMB 36522, Los Angeles, CA 90069</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of Each Class:** | **Trading Symbol(s):** | **Name of Each Exchange on Which Registered:** |
| **Common Stock** | **ONAR** | **OTCQB** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement.**

On June 6, 2025, ONAR Holding Corporation (the "<u>Company</u>") entered into certain Subscription Agreements (the "<u>Subscription Agreements</u>") pursuant to which the Company agreed to issue and sell in a private placement (the "<u>Private Placement</u>") to accredited investors (collectively, the "<u>Purchasers</u>"), in the aggregate, 500 shares of a newly created class of preferred stock designated Series E Preferred Stock (the "<u>Series E Preferred Stock</u>"), with a face value of $1,000 per share ("<u>Face Value</u>"), for aggregate proceeds of $500,000 (the "<u>Initial Closing</u>"). The Company may sell additional shares of Series E Preferred Stock pursuant to additional Subscription Agreements for aggregate proceeds of up to $6,000,000, less the proceeds received in the Initial Closing, in one or more additional closings. The Initial Closing together with any additional closings of the Series E Preferred Stock by the Company pursuant to the Subscription Agreements is hereinafter referred to as the "<u>Offering</u>", and the date of such closing shall be referred to as the "<u>Closing Date</u>". The shares of Series E Preferred Stock issued in the Offering are offered and sold without registration under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), in reliance upon the exemption from registration under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated thereunder.

The Series E Preferred Stock has not been registered under the Securities Act or any state securities or "blue sky" laws. This report shall not constitute an offer to sell or the solicitation of an offer to buy any securities and no form of general solicitation or general advertising was conducted in connection with the Offering.

In connection with the Private Placement, the Company filed a certificate of designations for the Series E Preferred Stock with the Nevada Secretary of State (the "<u>Certificate of Designations</u>") which sets forth the following key terms. The following description of the Certificate of Designations does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Designations, a copy of which is attached hereto as <u>Exhibit 3.1</u> and incorporated herein by reference.

*Conversion Terms*

Following an increase in the number of authorized shares of Common Stock of the Company by at least one hundred fifty million (150,000,000) additional shares, each share of Series E Preferred Stock will be convertible at the option of the holder thereof (each, a "<u>Holder</u>" and collectively, the "<u>Holders</u>")) into a number of shares of Common Stock of the Company ("<u>Common Stock</u>") equal to (i) the Face Value, *divided by* (ii) (A) the closing market price of the Common Stock on the principal trading market for the Common Stock one (1) trading day immediately prior to the applicable date of issuance, *multiplied* by (B) seventy-five percent (75%) (the product obtained from (A) multiplied by (B), the "<u>Conversion Price</u>"), rounded down to the nearest whole share; provided, however, no Holder may convert the Series E Preferred Stock it holds if such conversion would result in such Holder beneficially owning five percent (5%) or more of the outstanding Common Stock. In the event a Holder desires to exercise its conversion rights described herein, such Holder shall notify the Company by submitting a notice, in the form attached as Exhibit A to the Certificate of Designations (the "<u>Conversion Notice</u>").

In the event the closing market price of the Common Stock on the principal trading market for the Common Stock is less than the Conversion Price as of any annual anniversary of an applicable closing (the "<u>Current Market Price</u>"), then the Conversion Price shall be reset to such Current Market Price; provided however, in no event shall the Current Market Price be set to an amount less than $0.01. If the Company at any time or from time to time after the applicable date of issuance of the Series E Preferred Stock issues additional shares of equity securities or Convertible Securities (as defined herein) of the Company for consideration per share less than the then applicable Conversion Price (the "<u>New Issuance Price</u>"), then the Conversion Price for the Series E Preferred Stock shall be automatically adjusted to equal the New Issuance Price, effective immediately upon the issuance of such additional shares. For purposes of this Agreement, "Convertible Securities" shall mean any evidences of indebtedness, shares or other securities directly or indirectly convertible or exchangeable for Common Stock.

*Dividend Terms*

The Series E Preferred Stock will accrue dividends at a rate per annum of eight percent (8%), payable in additional shares of Common Stock upon conversion.

2<br>

*Liquidation Preference*

Upon any distribution of the assets of the Company available for distribution to its stockholders in connection with any voluntary or involuntary liquidation, dissolution or winding up of the Company (any such event, a "<u>Liquidation</u>"), the shares of Series E Preferred Stock shall be treated as if they had been converted to Common Stock pursuant to the terms of this Certificate of Designations immediately prior to such Liquidation, without regard to any limitations on conversion set forth herein or otherwise and without regard as to whether sufficient shares of Common Stock are available out of the Company's authorized but unissued stock for the purpose of effecting the conversion of the Series E Preferred Stock.

**Item 3.02. Unregistered Sales of Equity Securities.**

The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02. The offer and sale of the Series E Preferred Stock in the Private Placement was made in reliance on the exemption from registration afforded under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated under the Securities Act. This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction

**Item 3.03. Material Modification to Rights of Security Holders.**

The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.03.

**Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

On June 11, 2025, the Company filed the Series E Preferred Stock Certificate of Designations with the Secretary of the State of Nevada. The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 5.03.

**Item 9.01 Financial Statements and Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [4.1](onar_ex41.htm) | [Certificate of Designations of Series E Preferred Stock.](onar_ex41.htm) |
| [10.1](onar_ex101.htm) | [Form of Subscription Agreement](onar_ex101.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

3<br>

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **ONAR HOLDING CORPORATION** | **ONAR HOLDING CORPORATION** |
| Dated: June 12, 2025 | By: | */s/ Claude Zdanow* |
|  | Name: | Claude Zdanow |
|  | Title: | Chief Executive Officer |

---

4<br>

## Exhibit 4.1

**EXHIBIT 4.1**

**CERTIFICATE OF DESIGNATIONS OF** 

**SERIES E CONVERTIBLE PREFERRED STOCK OF** 

**ONAR HOLDING CORPORATION**

**A Nevada Corporation**

**Section 1. <u>Designation and Amount</u>**. The shares of the Class of Preferred Stock of ONAR Holding Corporation, a Nevada corporation (OTCQB: ONAR) (the "<u>Company</u>") hereby and herein created shall have a par value of one-tenth of a cent ($0.001) per share and shall be designated as Series E Preferred Stock (the "<u>Series E Preferred Stock</u>") with a face value of One Thousand Dollars ($1,000) per share ("<u>Face Value</u>"), and the number of shares constituting the Series E Preferred Stock shall be six thousand (6,000).

**Section 2. <u>Rank</u>**. The Series E Preferred Stock shall rank: along side of the Common Stock of the Company ("<u>Common Stock</u>") as if fully converted.

**Section 3. <u>Dividends</u>**. The Series E Preferred Stock shall accrue dividends at a rate per annum of eight percent (8%) of the Face Value per share, payable in additional shares of Common Stock upon conversion as set forth in Section 5(a) below.

**Section 4. <u>Liquidation/Merger Preference</u>**. Upon any distribution of the assets of the Company available for distribution to its stockholders in connection with any voluntary or involuntary liquidation, dissolution or winding up of the Company (any such event, a "<u>Liquidation</u>"), the shares of Series E Preferred Stock will be treated as if they had been converted to Common Stock pursuant to the terms of this Certificate of Designations immediately prior to such Liquidation, without regard to any limitations on conversion set forth herein or otherwise and without regard as to whether sufficient shares of Common Stock are available out of the Company's authorized but unissued stock for the purpose of effecting the conversion of the Series E Preferred Stock.

**Section 5. <u>Conversion of Preferred Shares to Common</u>**. The Series E Preferred Stock shall be convertible into shares of Common Stock of the Company 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;(a) <u>Voluntary Conversion; Mechanics of Conversion</u>. Following an increase in the number of authorized shares of Common Stock of the Company by at least one hundred fifty million (150,000,000) additional shares, each holder of Series E Preferred Stock (each, a "<u>Holder</u>" and collectively, the "<u>Holders</u>") may, in such Holder's sole discretion, convert each share of Series E Preferred Stock it holds into a number of shares of Common Stock equal to (i) (A) the Face Value plus (B) the amount of accrued dividends in respect of such share of Series E Preferred Stock, divided by (ii) (A) the closing market price of the Common Stock on the principal trading market for the Common Stock one (1) trading day immediately prior to the applicable date of issuance, multiplied by (B) 75% (the product obtained from (A) multiplied by (B), the "<u>Conversion Price</u>"), rounded down to the nearest whole share; provided, however, no Holder may convert the Series E Preferred Stock it holds if such conversion would result in such Holder beneficially owning five percent (5%) or more of the outstanding Common Stock of the Company. In the event a Holder desires to exercise its conversion rights hereunder, such Holder shall notify the Company by submitting a notice, in the form attached hereto as <u>Exhibit A</u> (the "<u>Conversion Notice</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>Adjustments for Stock Splits and Reverse Splits</u>. In the event of any stock split, reverse stock split, stock dividend, reclassification, recapitalization, or other similar event, the number of shares of Common Stock into which each share of Series E Preferred Stock is convertible shall be appropriately adjusted to reflect such event. The adjustment shall ensure that the conversion rights of the Holders set forth herein are neither diminished nor enhanced as a result of such events.

&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>Administration</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;(i) <u>Lost or Stolen Certificates</u>. Prior to receipt of a Conversion Notice, upon receipt by the Company of evidence of the loss, theft, destruction, or mutilation of any certificate representing shares of the Series E Preferred Stock (the "<u>Preferred Stock Certificates</u>"), and (in the case of loss, theft or destruction) of indemnity or security reasonably satisfactory to the Company, and upon surrender and cancellation of the Preferred Stock Certificate(s), if mutilated, the Company shall execute and deliver new Preferred Stock Certificate(s) of like tenor and date. However, the Company shall not be obligated to re-issue such lost or stolen Preferred Stock Certificates on or subsequent to receipt of a Conversion Notice, as such shares of Series E Preferred Stock will have been converted into Common 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Delivery of Common Stock Upon Conversion</u>. The Company's then acting transfer agent (the "<u>Transfer Agent</u>") shall, no later than the close of business on the third (3rd) business day (the "<u>Deadline</u>") after receipt of a duly completed and executed Conversion Notice, send notice to such Holder via electronic mail a statement showing that such shares of Common Stock have been issued in the name of the Holder and that any converted shares of Series E Preferred Stock are canceled. The Holders shall also be entitled to the equitable remedy of specific performance to enforce the delivery requirements upon conversion of Series E 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;(iii) <u>No Fractional Shares</u>. If any conversion of the Series E Preferred Stock would create a fractional share of Common Stock or a right to acquire a fractional share of Common Stock, such fractional share shall be disregarded, and the number of shares of Common Stock issuable upon conversion in the aggregate, shall be rounded up to the nearest 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;(d) <u>Conversion Price Reset; Anti-Dilution Protections</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;(i) In the event the closing market price of the Common Stock on the principal trading market for the Common Stock is less than the Conversion Price as of any annual anniversary of an applicable closing (the "<u>Current Market Price</u>"), then the Conversion Price shall be reset to such Current Market 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;(ii) If the Company at any time or from time to time after the applicable date of issuance of the Series E Preferred Stock issues additional shares of equity securities or Convertible Securities (as defined herein) of the Company for consideration per share (in the case of Convertible Securities, on an as converted basis) less than the then applicable Conversion Price (the "<u>New Issuance Price</u>"), then the Conversion Price for the Series E Preferred Stock shall be automatically adjusted to equal the New Issuance Price, effective immediately upon the issuance of such additional shares; provided, however that no adjustment shall be made in respect of the issuance of equity securities or Convertible Securities (A) pursuant to the Company's 2025 Omnibus Incentive Plan or any successor plan (or a bona fide inducement grant to new employees outside of any such plan), (b) upon the conversion of any Convertible Securities issued and outstanding on date hereof, (c) in connection with acquisitions, asset purchases, licenses, joint ventures, technology license agreements, collaborations or strategic transactions, or (d) to financial institutions or lessors in connection with credit or lending arrangements, equipment financings or lease arrangements. For purposes of this Agreement, "Convertible Securities" shall mean any evidences of indebtedness, shares or other securities directly or indirectly convertible or exchangeable for Common Stock.

**Section 6. <u>Status of Converted Stock</u>**. Once the shares of Series E Preferred Stock shall be converted or canceled pursuant to the receipt of a Conversion Notice pursuant to <u>Section 5(a)</u> hereof, the shares shall be canceled and shall return to the status of authorized but unissued Preferred Stock of no designated class and shall not be issuable by the Company as Series E Preferred Stock.

**EXHIBIT A**

**<u>NOTICE OF CONVERSION</u>**

The undersigned ("<u>Holder</u>") hereby irrevocably elects to convert their <u>Series E Preferred Stock</u> (Certificate No. ______ or book-entry position) into shares of Common Stock of ONAR Holding Corporation (the "<u>Issuer</u>"). Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Certificate of Designations of Series E Convertible Preferred Stock of the Issuer.

The Issuer shall cause the Transfer Agent to issue one or more certificates as directed by Holder for the number of shares of Common stock set forth below (which numbers are based on the holder's calculation below) in the name(s) specified immediately below:

Holder's Name: _________________________________________________________________

Holder's SSN/Tax ID #: ___________________________________________________________

Holder's Address: _______________________________________________________________

The Holder represents and warrants that all offers and sales by the Holder of the securities issuable to the Holder upon conversion of the Series E Preferred Stock shall be made pursuant to registration of the securities under the Securities Act of 1933, as amended (the "<u>Act</u>"), or pursuant to an exemption from registration under the Act.

Date to Effect Conversion: ________________________________________________________

Number of shares of Preferred Stock being converted: ___________________________________

Number of shares of Common Stock to be issued: _______________________________________

Please send the common stock certificate to ___________________________________________

___________________________________________

(Holder's Signature)

Print name: __________________________________

Phone: _____________________________________

E-mail: ______________________________________

## Exhibit 10.1

**EXHIBIT 10.1**

**ONAR HOLDING CORPORATION**

__________________________________________________

**SUBSCRIPTION AGREEMENT**

__________________________________________________

ONAR HOLDING CORPORATION

This Subscription Agreement (this "<u>Agreement</u>"), dated as of June ●, 2025 is made by and between (i) ONAR Holding Corporation, a Nevada corporation (the "<u>Company</u>") and (ii) the parties listed on <u>Schedule I</u> hereto (the "<u>Purchasers</u>," each a "<u>Purchaser</u>," and collectively with the Company, the "<u>Parties</u>"). Capitalized terms used, but not otherwise defined herein shall have the meanings ascribed to such terms in the Certificate of Designations (as defined herein).

**RECITALS**

WHEREAS, the Company desires to issue and sell to the Purchasers, and the Purchasers desire to purchase from the Company, an aggregate of [______] authorized but unissued shares of convertible Series E Preferred Stock, par value $0.001 per share, of the Company (the "<u>Series E Preferred Shares</u>"), for an aggregate purchase price of $[__________] (the "<u>Purchase Price</u>"), on the terms and subject to the conditions set forth in this Agreement; and

WHEREAS, the terms of the Series E Preferred Shares are set forth in the Company's Series E Preferred Stock Certificate of Designation, filed with the Secretary of State of the State of Nevada at or prior the date hereof (the "<u>Certificate of Designations</u>").

NOW THEREFORE, in consideration of the foregoing and the mutual covenants and promises set forth herein, and intending to be legally bound, the Parties hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Sale and Purchase of the Series E Preferred Shares</u>. Subject to the terms hereof and in reliance upon the representations and warranties of the respective Parties contained herein, at the Closing (as defined herein), the Company will issue and sell to each Purchaser, and each Purchaser agrees to purchase from the Company, the Series E Preferred Shares set forth next to its name on <u>Schedule I</u> for the portion of the Purchase Price set forth next to its name on <u>Schedule I</u>, and each Purchaser will purchase the Series E Preferred Shares and pay that portion of the Purchase Price set forth next to its name on <u>Schedule I</u> to the Company by wire transfer of immediately available funds to an account designated in writing by the Company. The obligations of the Purchasers to purchase the Series E Preferred Shares hereunder are several, and not joint, and no Purchaser will have any liability to any person for the performance or non-performance by any other Purchaser in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Series E Preferred Shares</u>. The Series E Preferred Shares will (a) be issued at the Closing to each Purchaser, fully paid, non-assessable and free and clear of any liens, charges, encumbrances, restrictions on voting or transfer (other than transfer restrictions imposed under applicable securities laws, the Charter (as defined herein), the Certificate of Designations or the bylaws of the Company, as applicable (collectively, the "<u>Governing Documents</u>")) or any other claim of any third party ("<u>Liens</u>") and otherwise in accordance with the terms of this Agreement, (b) be registered to such Purchaser in the Company's stock records, in the amounts purchased by each such Purchaser, and (c) have the designations, rights, preferences, powers, restrictions and limitations set forth in the Certificate of Designations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Closing</u>. The closing of the sale to the Purchasers, and the subscription for and purchase by the Purchasers, of the Series E Preferred Shares as provided for in <u>Section 1</u> (the "<u>Closing</u>"), shall take place remotely via electronic mail promptly following execution of this Agreement on the date hereof (the "<u>Closing Date</u>"). At or prior to the Closing, (i) the Company shall have filed the Certificate of Designations with the Secretary of State of the State of Nevada and (ii) each Purchaser shall have delivered its respective portion of the Purchase Price to the Company in accordance with <u>Section 1</u>.

&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 each Purchaser as of the Closing Date that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Formation and Standing</u>. The Company is duly incorporated and validly existing in good standing as a corporation under the laws of the State of Nevada, and has all requisite corporate power and authority to carry on its business as now conducted and as proposed to be conducted.

&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>Authorization of Agreement, etc</u>. The execution of, delivery of, and performance by the Company under, this Agreement have been authorized by all necessary action on behalf of the Company, this Agreement has been duly delivered and this Agreement is a legal, valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except that such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and similar laws of general application relating to or affecting creditors' rights generally and by equitable principles (regardless of whether enforcement is sought 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;4.3 <u>Compliance with Laws and Other Instruments</u>. The execution and delivery of this Agreement by the Company, the performance by the Company of its obligations under this Agreement and the consummation by the Company of the transactions contemplated hereby will not conflict with or result in any violation of or default under any provision of the Company's articles of incorporation (the "<u>Charter</u>"), the Certificate of Designations or any agreement or other instrument to which the Company is a party or by which it is bound, or any permit, franchise, judgment, decree, statute, order, rule or regulation applicable to the Company or its business or properties. The execution and delivery of this Agreement by the Company, the performance by the Company of its obligations under this Agreement and the consummation by the Company of the transactions contemplated thereby and hereby will not conflict with or result in any violation of or default under any provision of the Charter, Certificate of Designations or any agreement or other instrument to which the Company is a party or by which it is bound, or any permit, franchise, judgment, decree, statute, order, rule or regulation applicable to the Company or its business or 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;4.4 <u>Capitalization</u>. As of the Closing Date (after giving effect to the filing and effectiveness of the Certificate of Designations with the Secretary of State of Nevada), the Series E Preferred Shares will (a) be duly authorized by all necessary corporate action on the part of the Company and be validly issued, fully paid and non-assessable, (b) be issued in compliance with all applicable federal and state securities laws, (c) not be subject to any preemptive or similar right, purchase or call option or right of first refusal or similar right, and (d) be free and clear of any Liens except, in the case of <u>clauses (c)</u> and <u>(d)</u> for those arising under the Certificate of Designations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Representations, Warranties and Covenants of the Purchasers</u>. Each Purchaser severally and not jointly represents, warrants and covenants to the Company for only such Purchaser and not for any other Purchaser as of the Closing Date that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>Authorization of Purchase, etc</u>. The Purchaser, if other than a natural person, is duly organized, formed or incorporated, as the case may be, and validly existing and in good standing, under the laws of the Purchaser's jurisdiction of organization, formation or incorporation, and the Purchaser has all requisite power and authority to execute, deliver and perform the Purchaser's obligations under this Agreement, and to subscribe for and purchase the Series E Preferred Shares hereunder. The purchase by the Purchaser of the Series E Preferred Shares and the Purchaser's execution, delivery and performance of this Agreement have been authorized by all necessary corporate or other action on the Purchaser's behalf, and this Agreement is the Purchaser's legal, valid and binding obligations, enforceable against the Purchaser in accordance with its terms, except that such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and similar laws of general application relating to or affecting creditors' rights generally and by equitable principles (regardless of whether enforcement is sought 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;5.2 <u>Compliance with Laws and Other Instruments</u>. The execution and delivery of this Agreement, the consummation of the transactions contemplated hereby and thereby, and the performance of the Purchaser's obligations hereunder and thereunder do not and will not conflict with, or result in any violation of or default under, any provision of any certificate of incorporation, memorandum and articles of association, by-laws, trust agreement, partnership agreement or other organizational or governing instrument applicable to the Purchaser, or any agreement or other instrument to which the Purchaser is a party or by which the Purchaser or any of the Purchaser's properties are bound, or any permit, franchise, judgment, decree, statute, order, rule or regulation applicable to the Purchaser or to the Purchaser's business or 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;5.3 <u>Access to Information</u>. The Purchaser has been provided an opportunity to ask questions of, and the Purchaser has received answers thereto satisfactory to the Purchaser from, the Company and its representatives regarding the terms and conditions of the Series E Preferred Shares, and the Purchaser has obtained any and all additional information requested by the Purchaser from the Company and its representatives to verify the accuracy of all information furnished to the Purchaser regarding the Company and the offering of the Series E Preferred Shares. The Purchaser acknowledges that other Purchasers may have received different information than the Purchaser regarding the Company and the Series E Preferred Shares because other Purchasers may have asked additional questions of, or requested additional information from, the Company and its representatives. The Purchaser is not relying on the Company or any of its equityholders, officers, counsel, agents or representatives for legal, investment or tax advice. The Purchaser has sought legal, investment and tax advice to the extent that the Purchaser has deemed necessary or appropriate in connection with the Purchaser's decision to subscribe for and purchase the Series E Preferred 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;5.4 <u>Evaluation of and Ability to Bear Risks</u>. The Purchaser has such knowledge and experience in financial and business affairs that the Purchaser is capable of evaluating the merits and risks of purchasing, and other considerations relating to, the Series E Preferred Shares to be purchased by the Purchaser pursuant to this Agreement, and the Purchaser has not relied in connection with the Purchaser's purchase of the Series E Preferred Shares upon any representations, warranties or agreements other than those set forth in this Agreement. The Purchaser's financial situation is such that the Purchaser can afford to bear the economic risk of holding the Series E Preferred Shares for an indefinite period of time, and the Purchaser can afford to suffer the complete loss of the Series E Preferred Shares and the Purchase Price. The Purchaser is an "accredited investor" as such term is defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), and a "qualified purchaser" as such term is defined in Section 2 of 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;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <u>Purchase for Investment</u>. The Purchaser is acquiring the Series E Preferred Shares for investment and for its own account and is not acquiring the Series E Preferred Shares with a view to or for sale in connection with any distribution of all or any part of such interest. The Purchaser will not, directly or indirectly, transfer all or any part of the Series E Preferred Shares (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of all or any part of the Series E Preferred Shares) except in accordance with (a) the registration provisions of the Securities Act or an exemption from such registration provisions, (b) any applicable state or non-U.S. securities laws and (c) the terms of the Governing Documents. The Purchaser understands that the Purchaser must bear the economic risk of the Purchaser's investment in the Series E Preferred Shares for an indefinite period of time because, among other reasons, the offering and sale of the Series E Preferred Shares have not been registered under the Securities Act and, therefore, the Series E Preferred Shares cannot be sold other than through a privately negotiated transaction unless they are subsequently registered under the Securities Act or an exemption from such registration is available. The Purchaser also understands that transfers of the Series E Preferred Shares are further restricted by the provisions of the Governing Documents, and may be restricted by applicable state and non-U.S. securities laws, and that no market exists or is expected to develop for the Series E Preferred 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;5.6 <u>Certain ERISA Matters</u>. No portion of the funds or assets that will be used by such Purchaser to pay the Purchase Price or to acquire or hold the Series E Preferred Shares, constitute or will constitute the assets of any (a) employee benefit plan subject to Title I of the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder ("<u>ERISA</u>"), (b) plan described in and subject to Section 4975 of the Code (each such employee benefit plan and plan described in <u>clauses (a)</u> and <u>(b)</u> referred to herein as an "<u>ERISA Plan</u>"), (c) plan, account or other arrangement subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to the fiduciary responsibility or prohibited transaction provisions of Title I of ERISA or Section 4975 of the Code that could cause the underlying assets of the Company to be treated as assets of such plan, account or arrangement (a "<u>Similar Law Plan</u>") or (d) entity whose underlying assets are deemed to include "plan assets" of any such ERISA Plan or Similar Law Plan pursuant to Section 3(42) of ERISA and any regulations that may be promulgated thereunder 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;5.7 <u>Tax Matters</u>. The Purchaser represents that it has provided the Company with a completed and executed Internal Revenue Service Form W-9 and agrees to furnish the Company with such form upon expiration of any prior form or upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Amendments and Waivers</u>. This Agreement may be amended and the observance of any provision hereof may be waived (either generally or in a particular instance and, to the fullest extent permitted by law, either retroactively or prospectively) only with the written consent of (i) the Purchasers obligated to purchase, or holding, a majority of the Series E Preferred Shares and the Company and (ii) the undersigned Purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Most Favored Nations</u>. Following the date hereof and for a period of eighteen (18) months thereafter in the event the Company (i) provides for registration rights (*i.e.*, demand registration rights, "piggyback" registration rights or S-3 registration rights) (an "<u>Investor Reg Rights Offering</u>") to any other Investor ("<u>Other Investors</u>") or (ii) raises any additional capital (collectively, "<u>Additional Offerings</u>" and each, an "<u>Additional Offering</u>"), the Company shall provide each Purchaser a compendium of the relevant terms of such Additional Offering, and each Purchaser shall have the right to elect, by written notice to the Company within ten (10) days of receipt of such compendium, to be granted substantially similar rights as those granted under such Additional Offering; provided that the Purchasers shall not be entitled to any rights or benefits (a) that were established for the benefit of any Other Investor to reflect any legal, tax or regulatory requirement to which such Other Investor is (or seeks not to be) bound to which the Purchaser is not similarly bound or the Purchaser has not similarly adopted, (b) that are personal to any Other Investor based solely on the place of organization or headquarters, organizational form or other particular restrictions applicable to such Other Investor, (c) relating to the right of an Other Investor or any other person to nominate a member of the Board of Directors of the Company (the "<u>Board</u>") or to attend meetings of the Board as an observer, or (d) which are granted to such Other Investor pursuant to a side letter based on the size of such Other Investor's capital commitment; provided that this clause (d) shall not apply in the case of an Investor Reg Rights Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Survival of Representations and Warranties; Indemnity</u>. All representations, warranties and covenants contained herein or made in writing by the Purchasers or the Company in connection with the transactions contemplated by this Agreement shall survive the execution and delivery of this Agreement and the issue and sale of the Series E Preferred Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Successors and Assigns</u>. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective heirs, successors and permitted assigns of the Parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Notices</u>. Each notice relating to this Agreement shall be in writing and shall be delivered (a) in person, by registered or certified mail or by private courier, overnight or next-day express mail, or (b) by email or other electronic means. All notices to a Purchaser shall be delivered to it at its last known address or email address as set forth in the records of the Company. All notices to the Company shall be delivered to the Company as follows, or at such other address or addresses, email address or addresses, as the Company shall have furnished to the Purchasers in writing:

ONAR HOLDING CORPORATION

8605 Santa Monica Boulevard

PMB 36522

Los Angeles, CA 90069

Attention: Claude Zdanow

E-mail: \*redacted\*

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

Winston & Strawn LLP

200 Park Avenue

New York, New York 10166

Attention: Jeffrey Shuman; Adam Lanza

E-mail: JShuman@winston.com; ALanza@winston.com

A Purchaser may designate a new address for notices by giving written notice to that effect to the Company. Unless otherwise specifically provided in this Agreement, a notice given in accordance with the foregoing <u>clause (a)</u> shall be deemed to have been effectively given three business days after such notice is mailed by registered or certified mail, return receipt requested, and one business day after such notice is sent by FedEx or other one-day service provider, to the proper address, or at the time delivered when delivered in person or by private courier. A notice given by email or other electronic means shall be deemed to have been effectively given the business day following the date on which such email or electronic message was sent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Governing Law</u>. THIS AGREEMENT, EACH GOVERNING DOCUMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO AND THERETO SHALL BE INTERPRETED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED WHOLLY WITHIN THAT JURISDICTION. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Headings, etc</u>. The cover page, the table of contents and the headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute a part hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Entire Agreement</u>. This Agreement contains the entire agreement of the Parties with respect to the subject matter hereof and thereof, and there are no representations, covenants or other agreements except as set forth herein or therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Severability of Provisions</u>. Each provision of this Agreement shall be considered severable and if for any reason any provision or provisions herein are determined to be invalid, unenforceable or illegal under any existing or future law, such invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this Agreement that are valid, enforceable and legal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Counterparts</u>. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which taken together shall constitute one and the same instrument. For the avoidance of doubt a person's execution and delivery of this Agreement by electronic signature and electronic transmission (jointly, an "<u>Electronic Signature</u>"), including via Docusign or other similar method, shall constitute the execution and delivery of a counterpart of this Agreement by or on behalf of such person and shall bind such person to the terms of this Agreement. Any person executing and delivering this Agreement by Electronic Signature further agrees to take any and all reasonable additional actions, if any, evidencing its intent to be bound by the terms of this Agreement, as may be reasonably requested by the Company.

[Signature page follows.]

IN WITNESS WHEREOF, the Company have duly executed this Agreement and this Agreement shall constitute a binding agreement between each Purchaser and the Company.

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| | |
|:---|:---|
| <u>THE COMPANY</u>: | <u>THE COMPANY</u>: |
| ONAR HOLDING CORPORATION | ONAR HOLDING CORPORATION |
| By: |  |
| Name:  | Claude Zdanow |
| Title: | Chief Executive Officer |

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*[Signature Page to Subscription Agreement – Series E Preferred Stock (ONAR)]*

The foregoing Agreement is hereby agreed to by the undersigned Purchaser to be effective as of the Closing Date.

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| | |
|:---|:---|
| <u>PURCHASER</u>: | <u>PURCHASER</u>: |
| <u>[ ]</u> | <u>[ ]</u> |
| By: |  |
| Name: | <u>[ ]</u> |
| Title: | <u>[ ]</u> |

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*[Signature Page to Subscription Agreement – Series E Preferred Stock (ONAR)]*

<u>**SCHEDULE I**</u>

**Schedule of Purchasers**

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| | | |
|:---|:---|:---|
| **Purchaser** | **Series E Preferred Shares** | **Purchase Price** |
| <u>**[ ]**</u> | <u>**[ ]**</u> | **$<u>[ ]</u>** |
| **Total** | <u>**[ ]**</u> | **$<u>[ ]</u>** |

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