# EDGAR Filing Document

**Accession Number:** 0001855751
**File Stem:** 0001493152-23-010010
**Filing Date:** 2023-3
**Character Count:** 204471
**Document Hash:** 801be02db36ffd7118a6253894d38995
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-010010.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001493152-23-010010

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20230309

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

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Results of Operations and Financial Condition

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

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Change in Shell Company Status

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Parsec Capital Acquisitions Corp.
- **CENTRAL INDEX KEY:** 0001855751
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 862087408
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40871
- **FILM NUMBER:** 23784760

**BUSINESS ADDRESS:**
- **STREET 1:** 320 W. MAIN STREET
- **CITY:** LEWISVILLE
- **STATE:** TX
- **ZIP:** 75057
- **BUSINESS PHONE:** (203) 524-6524

**MAIL ADDRESS:**
- **STREET 1:** 320 W. MAIN STREET
- **CITY:** LEWISVILLE
- **STATE:** TX
- **ZIP:** 75057

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Parsec Capital Acquisition Corp.
- **DATE OF NAME CHANGE:** 20210408

?xml version="1.0" encoding="utf-8"?

**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: March 9, 2023

**<u>PARSEC CAPITAL ACQUISITIONS CORP.</u>**

(Name of Registrant as specified in its charter)

<u>Delaware</u> <u>001-40871</u> <u>86-2087408</u> <br> (State or other jurisdiction of incorporation or organization) (Commission File No.) (IRS Employer Identification No.)

736 8th Ave. SW

Suite 510

Calgary, AB T2P 1H4

(xxx) _____

(Address and telephone number of principal executive offices)

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 (see General Instruction A.2. below):

☐ 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))

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Class A Common Stock, par value $0.0001 per share | N/A | N/A |

---

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.**

See Item 2.01, below, regarding the discussion of the Stock Exchange and Reorganization Agreement, dated March 9, 2023 (the "**Acquisition Agreement**").

**Item 2.01 Completion of Acquisition or Disposition of Assets.**

**OVERVIEW**

As used in this report, unless otherwise indicated, the terms "we", "us", "our", "Company" and "Parsec" refer to Parsec Capital Acquisition Corp. ("Parsec"). We refer to the transactions contemplated by the Acquisition Agreement as the "Acquisition".

Our shares of common stock, par value $0.0001 per share, are referred to herein as our "shares". "Canadian Dollars" or "CN$" refers to the legal currency of Canada and "$" or "U.S. Dollars" refers to the legal currency of the United States.

Parsec is a Delaware corporation incorporated on February 11, 2021 and formed as a "SPAC" to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. On October 8, 2021, Parsec closed its initial public offering of 8,625,000 units at an offering price of $10.00 per unit. Each unit consisted of one of the Company's shares of Class A common stock and one redeemable warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share.

On October 13, 2022, Parsec executed an Agreement and Plan of Merger with Enteractive Media Inc., a Canadian corporation ("Enteractive"). Closing of the Agreement and Plan of Merger was subject to stockholder approval by the stockholders of Parsec as well other customary closing conditions.

As of December 8, 2022, Parsec stockholder approval had not yet been obtained and as a result of Parsec having failed to make a required payment to extend the date required to consummate a business combination, all Class A Shares were redeemed and all outstanding warrants expired worthless. In addition, on December 16, 2022, Nasdaq Stock Market LLC filed with the United States Securities and Exchange Commission a Form 25 pursuant to 17 CFR 240.12d2-2(a)(1) cancelling the Nasdaq listing of Parsec's Class A Common Stock and warrants on the basis that the entire class of those securities had been redeemed or paid at maturity or retirement.

On March 9, 2023, Parsec and the holders of 56.7% of Enteractive's common stock (the "Enteractive Majority Stockholders"), entered into a Stock Exchange and Reorganization Agreement, pursuant to which Parsec acquired all shares of common stock owned by the Enteractive Majority Stockholders in exchange for a total of 3,402,560 newly issued shares of Parsec Class B common stock. The March 9, 2023 Stock Exchange and Reorganization Agreement cancelled and superseded the October 13, 2022 Agreement and Plan of Merger.

**About Enteractive**

Enteractive, which was formed in 2013, is a business that acts as the gateway between consumers and gambling operators. Enteractive's PlayerVision platform provides consumers with gambling themed television broadcasts, on demand video, "Join in Play" synchronous live video streamed sports wagering programming (available on the web, mobile and television), which include gambling strategies, tips and advice, leaderboards, contests, and incentives where people who like to gamble can: Meet each other; Learn how to play new games and gamble; Compete with each other in free games and real money games, and Win prizes and money.

On June 29, 2021, Bill C-218 received Royal Assent and became law whereby the Parliament of Canada amended the Criminal Code to decriminalize licensed private entities to operate single outcome sport event wagering.<sup>1</sup> This new development is allowing Enteractive's PlayerVision platform ("PlayerVision") to monetize this exciting new opportunity through the PlayerVision brand name to provide consumers with a comprehensive gambling themed platform and community, the PlayerVision Affiliate Gaming Network ("PlayerVision Network"). Through the PlayerVision Network, consumers can enjoin gambling themed television broadcasts, on demand video, Join in Play synchronous live video streamed sports wagering programming (available on the web, mobile and television), which include gambling strategies, tips and advice, leaderboards, contests, and incentives where people who like to gamble can:

Meet each other;

Learn how to play new games and gamble;

Compete with each other in free games and real money games; and

Win prizes and money.

PlayerVision acts as an "Gaming Affiliate" to partner sportsbook and casino gaming operators (collectively, "Gaming Operators"). PlayerVision generates revenue from the traffic that it sends to the Game Operators. PlayerVision's revenues are based on a percentage of the players spend with the Gaming Operators. PlayerVision carries no payout risk as it does not have any liability for payouts to players. If a player wins or loses on a Gaming Operator's platform, PlayerVision receives a commission ("Affiliate Commission"). Affiliate Commission payments can be based on "One-Time Bounties" or as part of a percentage of "Lifetime Revenue" agreements.

The Company is building the PlayerVision Network that is supported by world class online Gaming Operators. Enteractive's business model through the PlayerVision Network is now designed to engage and monetize gamblers through revenues that include membership fees, affiliate commissions and advertising revenues.

Enteractive's Affiliate strategy provides a strong competitive edge as the PlayerVision Network offers access to the comprehensive range of products and services that the Company has built from advertising, promoting and hosting events, broadcasting and recording events in a multi-platform network model and stream produced programs on its own cable, satellite and digital services.

PlayerVision requires a low level of corporate regulatory approval as the services it provides to players are "Marketing" related and not "Operational" in nature. PlayerVision does not act as the Gaming Book or the House/Casino nor does it operate gambling equipment or gambling software and as such it does not require approval as an operator. PlayerVision does not "hold" player funds or require complex Fintrac, KYC and AML infrastructure. PlayerVision does not require gaming operators licencing or significant probity for its key management or shareholders.

<sup>1</sup>https://openparliament.ca/bills/43-2/C-218/

PlayerVision provides its services only to licenced Gaming Operators who provide their services in accordance with all applicable Government licencing and taxation rules and regulations. PlayerVision's Gaming Operators are 100% responsible for all the regulatory licencing, compliance, audit, know-your-customer ("KYC"), anti-money laundering ("AML"), the Financial Transactions and Reports Analysis Centre of Canada ("FINTRAC") and Responsible Gambling Council ("RGC") compliance as well as the costs for platform operation, game design, game operation, game liquidity, financial processing, and related technical support services.

PlayerVision provides its services in accordance with all applicable advertising and marketing rules and regulations in each market (Province by Province, State by State, Country by Country). The Company is now ready to deliver its "Meet, Learn, Compete and Win" content via video streaming, on demand and broadcast networks to gamblers worldwide.

**Industry**

The penetration of digital media and the internet in general has led to the evolution of gambling and sports betting. Consumers of digital media platforms have leveraged online gaming platforms to satisfy their urge of gambling. Over the past few years there has been a rise in online poker gamblers, rummy players offering a vast prospect for gaming companies to expand their reach through digital interactive platforms. The interactive media and services industry is expected to grow at a rate of 16% over the next five years. The U.S interactive media and services industry generated a total revenue of US $416.7 billion at the end of 2021.<sup>2</sup> According to PWC's global entertainment and media outlook 2021 – 2025, this is a US $2 trillion market growing at a rate of 5% over the period.<sup>3</sup>

![](chart_1.jpg)

<sup>2</sup> https://simplywall.st/markets/us/telecom/interactive-media-services

<sup>3</sup> https://www.pwc.com/gx/en/entertainment-media/outlook-2021/perspectives-2021-2025.pdf

Sports betting refers to the activity of foretelling sports results and placing bets on the result. Bets are placed on sports such as football, baseball, basketball, hockey, cricket, boxing and auto racing. It also extends to non-athletic events such as horse racing and eSports.

The global sports betting market is expected to reach US $140.26 billion by 2028 growing at a CAGR of 10.1% from 2021 – 2028.4 The online gambling market generated $60 billion in 2021 according to another research.<sup>5</sup> The key factors driving this market are the penetration of digital media and connected devices, growing digital infrastructure and increasing number of sports events and leagues. A survey of online betting and gambling finds that gambling deregulation has boosted the shift towards pervasive forms of gambling. The valuation of this market is expected to be more than US $134.5 billion by the end of 2027.

The legal sports betting market in Canada is expected to generate $25 billion in retail and online wagering annually in the case that all provinces and territories legalize single game wagering.<sup>6</sup> In 2021, Canadian lawmakers passed the C-218 bill to remove the federal prohibition on single-game betting throughout Canada and allow individual provinces to regulate single sports betting. According to the Canadian Gaming Association, an estimated $10 billion is bet annually through illegal operators with ties to organized crime. An estimated $4 billion is bet with offshore unlicensed operators and another $500 million is bet through legal lottery run sportsbooks. A study by PricewaterhouseCoopers estimates that the single game betting market could reach CA $2.4 billion within two years of legalization and a study by Deloitte Canada estimated that Canadians could grow the legal sports betting market to $28 billion within the next five years. Prospective bettors intend to place 49% of their wagers online compared to 45.4% earmarked for retail locations, casinos, or sportsbooks, while 5.6% will bet using other channels.<sup>7</sup> Ontario is the first province set to legalize followed by Alberta. It is projected that Calgary's creative industries will spend CA $566 million on interactive digital media from 2022 to 2024, making way for gaming, esports and other immersive technologies.<sup>8</sup>

<sup>4</sup> https://www.globenewswire.com/news-release/2021/10/28/2322730/28124/en/Global-Sports-Betting-Market-2021-to-2028-Size-Share-Trends-Analysis-Report.html

<sup>5</sup> https://www.flytonic.com/make-money-on-sports-betting-affiliate-marketing/

<sup>6</sup> https://www.prnewswire.com/news-releases/canada-could-grow-into-2-billion-a-year-sports-betting-market-according-to-white-paper-from-playcanada-301363941.html

<sup>7</sup> https://sportshandle.com/canada-study-sports-betting-education/

<sup>8</sup> https://www.calgaryeconomicdevelopment.com/sectors/interactive-digital-media/

The COVID-19 pandemic accelerated the growth of the online gambling and betting market as users had more time to spare on their phones and computers and players rigorously promoted online betting as betters shifted from land-based betting facilities to online platforms. However, the cancellation of sports events did reduce sports betting opportunities.

Affiliate marketing is one of the most lucrative ways to profit in the sports betting industry. Their revenue is generated through a percentage profit generated by the sportsbook to attract players and the revenue share commission ranges from 15%-60%. Affiliate marketers also earn a fee for each cost per acquisition to redirect customers to the sportsbook.

Many sports betting companies are spending on media deals and partnering with media companies for their digital campaigns to acquire customers. This is becoming a big business for media companies. In July 2021, Gannett signed a five-year long deal with European sportsbook Tipico – Germany's top sports betting company and the sportsbook would compensate the publisher through cash, stock and commissions. In February 2021, WynBET also signed a 3-year long deal with Blue Wire that is a $3.5 million investment in the media company in exchange for partial ownership in advertising revenue.<sup>9</sup>

The online gambling industry is expected to grow from $76,792.7 million in 2020 to $127,451.4 million in 2025 at a rate of 10.7%. The market is then expected to grow at a CAGR of 8.6% from 2025 and reach $192,264.4 million in 2030.<sup>10</sup> The online sports betting market post COVID is expected to grow to US $59,530.7 million by 2026 at a CAGR of 13.6% in the period 2019-2026.<sup>11</sup>

We rely on a combination of patent, trademark and trade secret protection and other unpatented proprietary information to protect our intellectual property rights and to maintain and enhance our competitiveness in the jewelry industry.

***Foreign Currency Exchange***

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange in effect at the statement of financial position date. Non-monetary items are translated using the historical rate on the date of the transaction. Foreign exchange gains and losses are included in profit or loss.

**Employees**

At February 28, 2023, we had no employees, four full time consultants and two part time consultants.

**Properties**

The Company rents office space at 736 8th Ave. SW, Suite 510, Calgary, AB T2P 1H4.

**Legal Proceedings**

We are not aware of any pending or threatened legal proceedings involving the Company or its assets.

<sup>9</sup> https://digiday.com/media/we-are-the-media-company-sportsbooks-are-spending-millions-on-media-deals-but-publishers-should-hedge-their-bets/

<sup>10</sup> https://www.businesswire.com/news/home/20220323005542/en/Global-Online-Gambling-Market-Opportunities-and-Strategies-Report-2022-2030—ResearchAndMarkets.com#:~:text=The%20market%20is%20expected%20to,reach%20%24192%2C264.4%20million%20in%202030. 

<sup>11</sup> https://www.marketresearchfuture.com/reports/online-sports-betting-market-10480

**RISK FACTORS**

Any investment in our common stock involves a high degree of risk. Investors should carefully consider the risks described below and all of the information contained in this Current Report on Form 8-K before deciding whether to purchase our common stock. Our business, financial condition or results of operations could be materially adversely affected by these risks if any of them actually occur. Further, the trading price of our shares could decline due to any of these risks, and an investor may lose all or part of his or her investment. Some of these factors have affected our financial condition and operating results in the past or are currently affecting us. This Current Report on Form 8-K also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks described below and elsewhere in this Current Report on Form 8-K.

**RISKS RELATED TO OUR BUSINESS AND INDUSTRY**

***We rely on traffic to our websites to grow revenue. Our business could be negatively affected by changes in search engine algorithms and dynamics.***

 ****

We rely heavily on Internet search engines, such as Google. We have employed search engine marketing (SEO) to make our website more findable to search engines so that it ranks favorably in the search engines' results pages for certain queries. Although we believe that Google and other search engines are increasingly adept at identifying the truly high-quality content that deserves prominence, the factors affecting the appearance and rankings of search results are determined by search engines and are therefore not under our direct control. For example, search engines change their algorithms periodically, which could cause our websites to appear lower or not at all in the search engines' results pages. In the future, search engines may change the search results pages to promote search engines' own products or services. In addition, search engines may favor paid searches over natural searches.

As a result, our competitors' pay-per-click advertising could receive higher prominence than our own website. Our website has experienced fluctuations in search rankings in the past. While the amount of natural search traffic from Google varies based on a variety of factors related to both search rankings and consumer demand, the amount of natural search traffic can shift up or down more significantly when Google implements a core update to their search algorithm. Such updates can lead to larger than normal changes in Google search engine rankings which in turn effect traffic, although some updates have no impact on certain sites.

***Our industry continues to evolve, which makes it difficult to evaluate our current business and future prospects.***

We launched operations in 2013. Our evolving business make it difficult to forecast our future results of operations. Our historical revenue growth should not be considered indicative of our future performance. These risks and challenges include our ability to:

&nbsp;&nbsp;&nbsp;&nbsp;■ attract
 and retain new customers;

&nbsp;&nbsp;&nbsp;&nbsp;■ continue
 to earn and preserve a reputation for providing meaningful and reliable reviews of local businesses;

&nbsp;&nbsp;&nbsp;&nbsp;■ successfully
 manage our growth;

&nbsp;&nbsp;&nbsp;&nbsp;■ successfully
 develop and deploy new features and products;

&nbsp;&nbsp;&nbsp;&nbsp;■ manage
 and integrate successfully any acquisitions of businesses;

&nbsp;&nbsp;&nbsp;&nbsp;■ avoid
 interruptions or disruptions on our platform; and

&nbsp;&nbsp;&nbsp;&nbsp;■ recruit,
 integrate and retain talented personnel.

If we fail to address the risks and difficulties that we face, including those associated with the challenges listed above as well as those described elsewhere in this "Risk Factors" section, our business, financial condition, and results of operations could be adversely affected. Further, because we have limited historical financial data and operate in a rapidly evolving market, any predictions about our future revenue and expenses may not be as accurate as they would be if we had a longer operating history or operated in a more predictable market. We have encountered in the past, and will encounter in the future, risks and uncertainties frequently experienced by growing companies with limited operating histories in rapidly changing industries. If our assumptions regarding these risks and uncertainties, which we use to plan and operate our business, are incorrect or change, or if we do not address these risks successfully, our results of operations could differ materially from our expectations and our business, financial condition, and results of operations could be adversely affected.

***We may not be able to adequately track the amount of payments due to us.***

After we have directed an online gambler to an online gambling operator, we cannot directly track the online gambler's activities in the online gambling operator's system. We, therefore, rely on the net revenue calculations by the online gambling operator to determine our entitled payment. Consequently, there is a risk of miscalculation and misrepresentation, whether due to error, negligence or fraud. If such miscalculations occur undetected, subsequently remedied or retroactively adjusted, we could receive a lower fee than we are entitled to under our agreements, which in turn could result in lost revenue and have a material adverse effect on our business, financial condition and results of operations.

***The estimates of market opportunity and forecasts of market growth included in this prospectus may prove to be inaccurate. 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 Form 8-K are subject to significant uncertainty and are based on assumptions and estimates that may not prove to be accurate. Not every online gambling operator covered by our market opportunity estimates will necessarily purchase our solutions at all, and some or many of those online gambling operators may choose to use the solutions offered by our competitors. It is impossible to build every product feature that every customer 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 online gambling operators 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 or changing regulation. If any of these risks materialize, it could harm our business and prospects.

***We depend on key personnel to operate our business. An inability to retain, attract, and integrate qualified personnel would harm our ability to develop and successfully grow our business.***

Our success and growth strategy depend on our ability to attract and retain key management and operating personnel, including skilled developers, marketing personnel, project managers, product managers and content editors. Our future success depends on our continuing ability to attract, develop, motivate and retain highly qualified and skilled employees. Qualified individuals are in high demand, and we may incur significant costs to attract and retain them. Experienced developers and marketing personnel, who are critical to the success of our business, are also in particularly high demand. Competition for their talents is intense and retaining such individuals can be difficult.

Our ability to increase our revenue depends on our ability to introduce successful new products and services. Our ongoing investments in developing products and services involve significant risks which could disrupt our current operations and may not produce the long-term benefits that we expect.

We compete in rapidly evolving and highly competitive markets, and we expect competition to intensify further in the future with the emergence of new technologies and new market entrants. We face competition from new and established local and international players in the online marketing industry, traditional marketing providers such as TV, printed publications and radio, and online gambling operators who conduct extensive marketing activities of their own.

Our competitors may enjoy competitive advantages, such as greater name recognition, longer operating histories, substantially greater market share, large existing user bases and substantially greater financial, technical and other resources. These companies may use these advantages to offer services similar to ours at a lower price and respond more effectively than we do to new opportunities and customer demands.

To attract new visitors, we must offer and develop new features on a continuous basis and perform regular system updates. As a result, we have invested, and expect to continue to invest, significant resources in developing products and services to drive traffic to our platform and engage our customers. Our product development efforts may include significant changes to our existing products or new products that are unproven. Such investments may not prioritize short-term financial results and may involve significant risks and uncertainties, including distracting management and disrupting our current operations. We cannot assure you that any resulting new or enhanced products and services will engage online gamblers and online gambling operators. We may fail to generate sufficient revenue, operating margin or other value to justify our investments in such products, thereby harming our ability to generate and increase revenue.

An actual, alleged or perceived security incident, inadvertent disclosure or breach of sensitive information, including confidential and personal information, we process, or of the security of our or our customers', vendors', or partners' networks and systems could be detrimental to our business, reputation, financial information and results of operations.

Advances in technology, discoveries of new weaknesses and other developments with software generally used by the Internet community may increase the risk we will suffer a security incident. As part of our business we process certain personal, confidential and sensitive information. We may in the future fail to detect or prevent security incidents, inadvertent disclosure or breach of sensitive information, including from malware, ransomware, viruses, worms or similar threats for any number of reasons, such as our failure to enhance and expand our platform to reflect industry trends, new technologies and new operating environments, the complexity of the environment, network or systems of our clients, vendors, or partners. We, our customers, vendors or partners may experience such incidents due to data being misappropriated by a malicious insider or unauthorized party, such as employee error, rogue employee activity, or other unlawful or unauthorized acts, which if successful, may result in either threatened or actual exposure leading to unauthorized access, disclosure and misuse of sensitive information or other information regarding customers, vendors, partners, employees, or our company and business, and our technologies, systems and networks have been subject to attempted cyberattacks. If we experience any such incidents, we may incur significant costs in protecting against or remediating such incidents, which include investing in resources to address these incidents. We may not be able to remedy any incidents or incidental problems in a timely manner, or at all. To the extent potential customers, industry stakeholders or other third parties believe that the failure to detect or prevent any particular threat is a flaw or indicates that our platform is not secure our reputation and business would be harmed. Any real or perceived defects, errors or vulnerabilities in our platform or business, or any other failure of our platform to detect an incident, could result in:

■ a
 loss of existing or potential customers;

■ delayed
 or lost revenue and adverse impacts to our business, financial condition and operating results;

■ a
 delay in attaining, or the failure to attain, market acceptance;

■ the
 expenditure of significant financial and research and development resources in efforts to analyze, correct, eliminate, or work around
 errors or defects, and address and eliminate vulnerabilities;

■ an
 increase in resources, including devoted customer service and support, which could adversely affect our gross margins;

■ decrease
 in value to our reputation or brand; and

■ claims
and litigation, regulatory inquiries, or investigations, enforcement actions, including fines, and other claims and liabilities, all
of which may be costly and burdensome and further harm our reputation.

Systems failures and resulting interruptions in the availability of our websites, apps, or platforms could adversely affect our business, financial condition, and results of operations.

Our systems may experience service interruptions or degradation or other performance problems because of peak usage times, hardware and software defects or malfunctions, distributed denial-of-service and other cyberattacks, infrastructure changes, human error, natural disasters, power losses, disruptions in telecommunications services, fraud, military or political conflicts, terrorist attacks, computer viruses, ransomware, malware, or other events. Our systems also may be subject to break-ins and other intentional acts of vandalism, including by our own employees, independent contractors or other insiders. Some of our systems are not fully redundant and our disaster recovery planning may not be sufficient for all eventualities.

We may experience system failures and other events or conditions from time to time that could interrupt the availability, reduce or affect the speed or functionality of our platform. These system failures generally occur either as a result of software updates being deployed with unexpected errors or as a result of temporary infrastructure failures related to storage, network, or compute capacity being exhausted. These events have resulted in losses in revenue, though such losses have not been material to date. System failures in the future could result in significant losses of revenue. Further, in some instances, we may not be able to identify the cause or causes of these performance problems within an appropriate period of time. A prolonged interruption in the availability or reduction in the availability, speed, or other functionality of our platform could adversely affect our business and reputation and could result in the loss of users.

We may acquire other companies or technologies, which could divert management's attention and otherwise disrupt our operations and harm our operating results, whether or not the acquisition is consummated. We may fail to acquire companies whose market power or technology could be important to the future success of our business.

We also may not achieve the anticipated benefits from any acquired business due to a number of factors, including:

&nbsp;&nbsp;&nbsp;&nbsp;■ unanticipated
 costs or liabilities associated with the acquisition, such as transaction-related lawsuits or claims;

&nbsp;&nbsp;&nbsp;&nbsp;■ failure
 or material delay in closing a transaction;

&nbsp;&nbsp;&nbsp;&nbsp;■ Incurrence
 of acquisition-related costs;

&nbsp;&nbsp;&nbsp;&nbsp;■ diversion
 of management resources from existing business operations;

&nbsp;&nbsp;&nbsp;&nbsp;■ Regulatory
 uncertainties;

&nbsp;&nbsp;&nbsp;&nbsp;■ weak,
 ineffective, or incomplete data privacy compliance and strategies of an acquired company;

&nbsp;&nbsp;&nbsp;&nbsp;■ harm
 to our existing business relationships with online gambling operators as a result of the acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;■ harm
 to our brand and reputation;

&nbsp;&nbsp;&nbsp;&nbsp;■ the
 potential loss of our key employees;

&nbsp;&nbsp;&nbsp;&nbsp;■ Difficulties
 in retaining customers or key employees of an acquired company;

&nbsp;&nbsp;&nbsp;&nbsp;■ difficulties
 in integrating the technologies, operations, existing contracts, and employees of an acquired company; and

&nbsp;&nbsp;&nbsp;&nbsp;■ use
 of substantial financial resources to consummate the acquisition.

If we fail to address the foregoing risks or other problems encountered in connection with past or future acquisitions of businesses, or if we fail to successfully integrate such acquisitions or investments, our business, financial condition, and results of operations could be adversely affected. In addition, acquisitions also could result in dilutive issuances of equity securities or the incurrence of debt, which could adversely affect our operating results.

***If we fail to manage rapid growth effectively, our brand, business, financial condition and results of operations could be adversely affected.***

Rapid growth may impose significant responsibilities on our management, including the need to identify, recruit and integrate additional employees with relevant expertise, expand the scope of our current technological platform and invest in improved controls over technology, financial reporting and information disclosure. If we fail to manage the growth of our business and operations effectively, the quality of our service and the efficiency of our operations could suffer, which could adversely affect our business, financial condition, and results of operations.

In addition, our rapid growth may make it difficult to evaluate our future performance. Our ability to forecast our future results of operations is subject to a number of uncertainties, including our ability to model future growth. If we fail to achieve the necessary level of efficiency in our company as it grows, or if we are not able to accurately forecast future growth, our business would be negatively impacted.

***The impact of economic conditions, including the resulting effect on consumer spending, may adversely affect our business, financial condition, and results of operations.***

Our performance is subject to economic conditions and their impact on the levels of consumer spending. Demand for entertainment and leisure activities, including online gambling, may decline if discretionary consumer spending declines, including during economic downturns, when consumers generally earn less disposable income. Changes in discretionary consumer spending or consumer preferences are driven by factors beyond our control, such as:

&nbsp;&nbsp;&nbsp;&nbsp;■ unfavorable
 changes in general economic conditions, including recessions, economic slowdowns;

&nbsp;&nbsp;&nbsp;&nbsp;■ Fears
 of recession and changes in consumer confidence in the economy;

&nbsp;&nbsp;&nbsp;&nbsp;■ sustained
 high levels of unemployment;

&nbsp;&nbsp;&nbsp;&nbsp;■ increases
 in taxes, including gambling taxes or fees;

&nbsp;&nbsp;&nbsp;&nbsp;■ high
 energy, fuel and other commodity costs;

&nbsp;&nbsp;&nbsp;&nbsp;■ the
 potential for bank failures or other financial crises; and

&nbsp;&nbsp;&nbsp;&nbsp;■ terrorist
 attacks or other global events.

During periods of economic contraction, our revenues may decrease while most of our costs remain fixed and some costs may even increase, resulting in decreased earnings.

***Consolidation among the online gambling operators may reduce demand for our products and profitability.***

Much of the demand for our products derives from the desire of online gamblers to switch between different online gambling websites. The revenues of an online gambling website from a particular online gambler are usually highest in the first month after that online gambler signs up to the website. Therefore, online gamblers switching between platforms are likely to bring higher revenues to us. A consolidation of the online gambling sector could significantly reduce the ability and desire of online gamblers to switch between platforms, thereby potentially reducing our expected revenues. Furthermore, consolidation among online gambling operators may reduce competition for use of our product and therefore reduce our pricing power in the market place. Any significant move towards consolidation within the online gambling industry could therefore have a material adverse effect on our business, financial condition and results of operations.

***Negative events or negative media coverage relating to online gambling may adversely impact our ability to retain or attract online gamblers, which could have an adverse impact on our business.***

The online gambling industry is subject to negative publicity relating to perceptions of underage gambling, exploitation of vulnerable customers and the historic link between the gambling industry to criminal activities. As a service provider to the online gambling industry, our reputation can be negatively affected and, accordingly, significantly influence our business. In addition, a negative shift in the perception of online gambling by the public or by policymakers, lobbyists or others could affect future legislation of online gambling, which could cause jurisdictions to abandon proposals to legalize online gambling, thereby limiting the number of jurisdictions in which we can operate. Furthermore, illegal betting activity could result in negative publicity for our industry and could harm our brand reputation. Negative public perception could also lead to new restrictions on or to the prohibition of online gambling in jurisdictions in which we currently operate. Such negative publicity could also reduce could diminish confidence in, and the use of, our platform and result in decreased revenue or slower customer growth rates, which could seriously harm our business.

***We and our customers may have difficulty accessing the services of banks or the financial system and our business could be materially adversely affected.***

Although financial institutions are permitted to provide services to us and others in the online gambling industry, banks may be hesitant to offer services to us because we are service providers for sports betting businesses. Consequently, we may encounter difficulties in establishing and maintaining banking relationships with a full scope of services and generating market rate interest. If we were unable to maintain our bank accounts, it would make it difficult for us to operate our business, increase our operating costs, and pose additional operational, logistical and security challenges which could materially adversely impact our business. Similarly, our customers may be unable to access the services of banks or the financial system, whether due to banks' concerns with respect to providing services to sports betting businesses in general or changes of laws and regulations that might limit our customers' ability to access the financial system.

**Risks Related to Government Regulation**

***The online gambling industry is heavily regulated. Changes to the regulatory framework in the jurisdictions in which we operate could restrict our ability to advertise or harm our customers' business, which could in turn negatively affect our financial performance.***

As an online gambling affiliate, our principal customers are online gambling operators. Any regulatory development that could harm the financial performance or otherwise adversely affect online gambling operators could negatively affect our performance. The regulatory framework for online gambling is complex and varies across the jurisdictions in which we operate. In some jurisdictions, online gambling regulations are subject to debate and continuous development

We cannot predict whether, in the future, regulations will be implemented in a market where we operate or the impact of these regulations on our business. In addition, online gambling operators and their B2B providers, such as online gambling operator affiliates (directly and/or directly by way of their commercial relationship with online gambling operators), are currently subject to significant taxes and fees in addition to normal corporate income taxes, and such taxes and fees are subject to increase at any time. Tax authorities may interpret laws originally enacted for mature industries and apply it to newer industries, such as online gambling. From time to time, various legislators and other government officials have proposed and adopted changes in tax laws, or in the administration or interpretation of such laws, affecting the gambling industry. It is not possible to determine with certainty the likelihood of changes in tax laws or in the administration or interpretation or enforcement of such laws.

As the legal framework for the online gambling industry is constantly developing, we are unable to predict whether or when additional restrictions will be applied to online gambling operators in the jurisdictions in which we operate. Any development such as the above-mentioned could have a material adverse effect on our business, results of operations and financial position.

***We may be subject to legislation that limits or restricts the marketing of online gambling services and we could fail to comply with such legislation.***

As service providers to online gambling operators, online gambling affiliates are generally not subject to the same laws and regulations governing online gambling operators. However, in many jurisdictions, we may be obligated to comply with the regulations and standards around advertising in general. For example, the Advertising Standards Authority in the U.K. prescribes certain standards for online and affiliate marketing in general as well as specific policies around gambling. In the U.S., the American Gaming Association, or the AGA, has produced a Responsible Marketing Code for Sports Wagering which its members have pledged to follow. We are not a member of the AGA currently but should we join in the future, we would be required to comply with their marketing codes.

In addition, we are subject to general marketing legislation in all jurisdictions that we operate. In the future, we may be subject to additional regulatory requirements aimed at the promotion of online gambling services, for example if we enter new geographical markets or if regulations are expanded to include our operations. Regulatory compliance is costly and time-consuming. We have dedicated significant time and financial resources to monitor our regulatory compliance and will continue to in the future.

***We are subject to governmental regulation and other legal obligations related to privacy, data protection and information security. If we are unable to comply with these, we may be subject to governmental enforcement actions, litigation, fines and penalties or adverse publicity.***

We collect and process personal data about our customers. The collection, use and processing of such information about individuals are governed by data privacy laws and regulations enacted in the E.U., U.K., U.S. (federal and state), and other jurisdictions around the world, including U.S. marketing laws and FTC regulations. These data privacy laws and regulations are complex, continue to evolve, and on occasion may be inconsistent between jurisdictions leading to uncertainty in interpreting such laws and it is possible that these laws, regulations and requirements may be interpreted and applied in a manner that is inconsistent with our existing information processing practices, and many of these laws are significantly litigated and/or subject to regulatory enforcement.

The implication of this includes that various federal, state and foreign legislative or regulatory bodies may enact or adopt new or additional laws and regulations concerning data privacy, data retention, data transfer, and data protection. Such laws may continue to restrict or dictate how we collect, maintain, combine and disseminate information and could have a material adverse effect on our business, results of operations, financial condition and prospects.

Most of the jurisdictions in which we operate have established their own data privacy and security legal frameworks. For instance, in the European Economic Area, or the E.E.A., we are subject to the General Data Protection Regulation 2016/679, the GDPR, and in the U.K., we are subject to the U.K. data protection regime consisting primarily of the U.K. General Data Protection Regulation, the U.K. GDPR, and the U.K. Data Protection Act 2018, each of which imposes strict requirements on covered processing and provides for robust regulatory enforcement and sanctions for non-compliance. The GDPR and the U.K. GDPR regimes enable competent authorities to issue fines up to the greater of €20 million/£17.5 million or 4% of global annual turnover. Such penalties are in addition to any civil litigation claims by data controllers, data processors, customers and data subjects. In addition, last year the Court of Justice of the E.U., or the CJEU, invalidated the E.U.-U.S. Privacy Shield (a mechanism for the transfer of personal data from the E.E.A to U.S.) and also indicated that reliance on standard contractual clauses (another such transfer mechanism) alone may not necessarily be sufficient in all circumstances. We previously relied on our E.U.-U.S Privacy Shield certification and in some cases the Privacy Shield certification(s) of our vendors and partners for the purposes of transferring personal data from the E.E.A. to the U.S. in compliance with the GDPR's data export conditions. We are monitoring the developments following the CJEU decision as well as implementing the standard contractual clauses and reviewing other mechanisms for transfers from the E.E.A. and the U.K., including to the U.S. We are additionally subject to evolving E.U. and U.K. privacy laws on electronic marketing and cookies. In recent years, European lawmakers and regulators have expressed concern over electronic marketing and the use of nonessential cookies, web beacons and similar technology for online behavioral advertising, or tracking technologies, leading to an effort to replace the current rules on e-marketing (currently set out in the 2002 Privacy & Electronic Communication Directive 2002/58/EC, as amended, or the ePrivacy Directive, and national implementing laws) with a new ePrivacy Regulation. When implemented, the new ePrivacy Regulation is expected to alter rules on tracking technologies and significantly increase fining powers to the same levels as the GDPR.

We will need to invest significant resources to comply with the GDPR and other privacy laws and regulations. Failure to meet any of the requirements of these laws and regulations could result in significant penalties or legal liability, adverse publicity and/or damage to our reputation, which could negatively affect our business, results of operations and financial condition.

***The international scope of our operations and our corporate and financing structure may expose us to potentially adverse tax consequences.***

We are subject to taxation in, and to the tax laws and regulations of, multiple jurisdictions due to the international scope of our operations and our corporate and financing structure. We are also subject to intercompany pricing laws including those relating to the flow of funds between our subsidiaries pursuant to, for example—purchase agreements, licensing agreements, or other arrangements. Adverse developments in such laws or regulations, or any change in position regarding the application, administration or interpretation of these laws or regulations in any applicable jurisdiction or our inability to comply with all applicable requirements of these laws could have a material adverse effect on our business, financial condition, and results of operations. In addition, the application of withholding tax, social security tax obligations, value added tax, goods and services tax, sales taxes and other non-income taxes is not always clear and we may be subject to tax audits relating to such withholding, social security obligations, or non-income taxes. Further, the tax or labor authorities in any applicable jurisdiction may disagree with the positions we have taken or intend to take regarding the tax treatment or characterization of any of our activities or transactions, including the tax treatment or characterization of our tax residency, indebtedness or the transactions. If any applicable tax authorities successfully challenge the tax treatment or characterization of any of these, it could result in the disallowance of deductions; the imposition of additional or new taxation in certain jurisdictions; the imposition of withholding taxes on internal deemed transfers or in general, capital gains taxes, including on transfers that have been made and/or deemed to have been made in connection with the transactions; or otherwise, the reallocation of income, penalties; or other consequences that could have a material adverse effect on our business, financial condition and results of operations.

***Our failure to comply with trade restrictions such as economic sanctions and export controls could negatively impact our reputation and results of operations.***

We are subject to trade restrictions, including economic sanctions and export controls, imposed by governments around the world with jurisdiction over our operations, which prohibit or restrict transactions involving certain designated persons and certain designated countries or territories, including Cuba, Iran, Syria, Sudan, North Korea, and the Crimea Region of Ukraine. Our failure to successfully comply with these laws and regulations may expose us to reputational harm as well as significant sanctions, including criminal fines, imprisonment, civil penalties, disgorgement of profits, injunctions, debarment from government contracts and other remedial measures. Investigations of alleged violations can be expensive and disruptive. We maintain policies and procedures designed to comply with these laws and regulations. As part of our business, we may, from time to time, engage in limited sales and transactions involving certain countries that are targets of economic sanctions, provided that such sales and transactions are authorized pursuant to applicable economic sanctions laws and regulations. However, we cannot predict the nature, scope, or effect of future regulatory requirements, including changes that may affect existing regulatory authorizations, and we cannot predict the manner in which existing laws and regulations may be administered or interpreted.

In addition, any perceived or actual breach of compliance by us with respect to applicable laws, rules, and regulations could have a significant impact on our reputation; could cause us to lose existing customers; prevent us from obtaining new customers; negatively impact investor sentiment about our company; require us to expend significant funds to remedy problems caused by violations and to avert further violations; and expose us to legal risk and potential liability—all of which may have a material adverse effect on our reputation, business, financial condition and results of operations.

***Our failure to comply with the anti-corruption laws of the U.S. and various international jurisdictions could negatively impact our reputation and results of operations.***

Doing business on a worldwide basis requires us to comply with anti-corruption laws and regulations imposed by governments around the world with jurisdiction over our operations, which includes the U.S. Foreign Corrupt Practices Act, or the FCPA, and the U.K. Bribery Act 2010, or the U.K. Bribery Act, as well as the laws of the countries where we do business. These laws and regulations may restrict our operations, trade practices, investment decisions, and partnering activities. The FCPA and the U.K. Bribery Act prohibit us and our officers, directors, employees, and business partners acting on our behalf, including agents, or representatives, from corruptly offering, promising, authorizing, or providing anything of value, directly or indirectly, to foreign government officials for the purposes of influencing official decisions or obtaining or retaining business or otherwise obtaining favorable treatment. The U.K. Bribery Act also prohibits non-governmental commercial bribery, soliciting or accepting bribes, and "facilitation payments," or small payments to low-level government officials to expedite routine approvals. We also are subject to the jurisdiction of various governments and regulatory agencies around the world, which may bring our personnel and representatives into contact with foreign government officials responsible for evaluating and implementing legislative and regulatory changes relevant to our industry and issuing or renewing permits, licenses or approvals or for enforcing other governmental regulations. In addition, some of the international locations in which we operate lack a developed legal system, and some jurisdictions have been perceived to have elevated levels of public corruption. Our global operations expose us to the risk of violating, or being accused of violating, anti-corruption laws and regulations.

Other companies, including some that may compete with us, may not be subject to the prohibitions listed above, and therefore may have a competitive advantage over us. We are in the process of developing policies and procedures reasonably designed to comply with applicable anti-corruption laws and regulations. However, there can be no guarantee that our policies and procedures will effectively prevent violations by our officers, directors, employees, and business partners acting on our behalf for which we may be held responsible, and any such violation could adversely affect our reputation, business, financial condition, and results of operations. Our failure to successfully comply with these laws and regulations may expose us to reputational harm as well as significant sanctions, including criminal fines, imprisonment, civil penalties, disgorgement of profits, injunctions, and debarment from government contracts, as well as other remedial measures. Responding to any enforcement action or internal investigation related to alleged misconduct may result in a significant diversion of management's attention and resources and significant defense costs and other professional fees.

**Risks Related to Intellectual Property**

***If we fail to protect or enforce our rights in our proprietary technology, brands or other intellectual property, our competitive position and our business could be materially adversely affected.***

We primarily rely on a combination of trademark, copyright and other intellectual property laws and contractual restrictions to protect our intellectual property and proprietary rights. However, we cannot be certain that the steps we have taken or will take to protect and enforce our intellectual property and proprietary rights will be successful. We currently hold rights to the Gambling.com domain name and various other related domain names in multiple jurisdictions. If we lose the ability to use a domain name, whether due to trademark claims, failure to renew the applicable registration, or any other cause, we may be forced to market our solutions under a new domain name, which could cause us substantial harm, or to incur significant expense to purchase rights to the domain name in question. In addition, our competitors could attempt to capitalize on our brand recognition by using domain names similar to ours. We may fail to prevent third parties from acquiring and using domain names that are similar to our brand. Protecting and enforcing our rights in our domain names may require litigation, which could result in substantial costs and diversion of management's attention, and ultimately may not be successful.

We also have certain registered trademarks that are important to our brand, such as the combined mark, Gambling.com. If we fail to protect or enforce our rights under our trademarks, we may lose the ability to use the trademarks or prevent others from using them, which could adversely harm our reputation, business, results of operations and financial condition.

We cannot be certain that the steps we have taken will prevent infringement, misappropriation or other violations of our intellectual property rights, particularly in foreign countries where the laws may not protect our proprietary rights as fully as they do in the U.S. Further, we may be required to enforce our intellectual property or other proprietary rights through litigation, which, regardless of success, could result in substantial costs and diversion of management's attention.

***We may face potential liability and expense for legal claims alleging that the content on our platform or the operation of our business infringes intellectual property rights of third parties, who may assert claims against us for unauthorized use of such rights.***

On our publishing platform, we publish both our own content and content from third parties. We cannot be certain that the published content on our platform and the operation of our business do not, or will not, infringe or otherwise violate the intellectual property rights of third parties. Third parties may assert claims against us alleging that we are infringing or otherwise violating their intellectual property rights, including claims for copyright or trademark infringement, or other claims based on the nature and content of the material that we publish or distribute. These claims, whether or not successful, could divert management time and attention away from our business and harm our reputation and financial condition. In addition, the outcome of litigation is uncertain, and third parties asserting claims could secure a judgment awarding substantial damages, as well as injunctive or other equitable relief against us, which could require us to rebrand, redesign, or reengineer our platforms or websites, and/or effectively block our ability to distribute or market our products and services.

***Our use of "open source" software in our applications could subject our proprietary software to general release, adversely affect our ability to sell our services and subject us to possible litigation, claims or proceedings.***

We may use open source software in connection with the development and deployment of our solutions and services, and we expect to continue to use open source software in the future. Companies that use open source software in connection with their products have, from time to time, faced claims challenging the use of open source software and/or compliance with open source license terms. As a result, we could be subject to suits by parties claiming ownership of what we believe to be open source software or claiming noncompliance with open source licensing terms. Some open source software licenses may require users who distribute software containing or linked to open source software to publicly disclose all or part of the source code to such software and/or make available any derivative works of the open source code to their licensees, which could include proprietary code of the user. In such cases, the open source software license may restrict users from charging fees to licensees for use of their software. While we monitor the use of open source software and try to ensure that none is used in a manner that would subject our proprietary source code to these requirements and restrictions, such use could inadvertently occur, in part because open source license terms are often ambiguous and have generally not been interpreted by U.S. or foreign courts.

Further, in addition to risks related to license requirements, use of certain open source software carries greater technical and legal risks than does the use of third-party commercial software. For example, open source software is generally provided without any support or warranties or other contractual protections regarding infringement or the quality of the code, including the existence of security vulnerabilities. To the extent that our platform depends upon the successful operation of open source software, any undetected errors or defects in open source software that we use could prevent the deployment or impair the functionality of our systems and injure our reputation. In addition, the public availability of such software may make it easier for others to compromise our platform. Any of the foregoing risks could materially and adversely affect our business, financial condition and results of operations.

***Our international operations involve additional risks, and our exposure to these risks will increase as our business continues to expand.***

We operate in a number of jurisdictions and intend to continue to expand our global presence. To date, we have focused our efforts on the EU. International operations are subject to the legal, political, regulatory, requirements and economic conditions in the jurisdictions in which they are conducted. Risks inherent to international operations include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;■ exposure
 to local economic or political instability;

&nbsp;&nbsp;&nbsp;&nbsp;■ compliance
 with various laws and regulatory requirements relating to anti-corruption, antitrust or competition, economic and trade sanctions,
 data content, data protection and privacy, employment and labor laws and health and safety;

&nbsp;&nbsp;&nbsp;&nbsp;■ obtaining
 any required government approvals, licenses or other authorizations;

&nbsp;&nbsp;&nbsp;&nbsp;■ difficulties
 in attracting and retaining qualified employees in certain international markets, as well as managing staffing and operations due
 to increased complexity, distance, time zones, language and cultural differences;

&nbsp;&nbsp;&nbsp;&nbsp;■ difficulties
 in enforcing agreements, judgments, and arbitration awards in various legal systems; and

&nbsp;&nbsp;&nbsp;&nbsp;■ inability
 to obtain, maintain or enforce our intellectual property rights.

We believe that our overall success as a global business depends on our ability to succeed in different legal, regulatory, economic, social, and political situations and conditions. We may not be able to develop and implement effective policies and strategies in each jurisdiction where we may conduct operations or do business in the future.

**We may need to raise additional funds in the future. These funds may not be available on acceptable terms or at all, and, without additional funds, we may not be able to maintain or expand our business.**

Our operations require substantial funds to finance our operating expenses, to expand our marketing, to develop product offerings and to cover public company costs. Without these funds, we may not be able to meet our goals.

We may seek additional funding through public or private financing or through collaborative arrangements with strategic partners. However, you should also be aware that in the future:

● we cannot be certain that additional capital will be available on favorable terms, if at all;

● any available additional financing may not be adequate to meet our goals; and

● any equity financing would result in dilution to stockholders.

If we cannot raise additional funds when needed, or on acceptable terms, we may not be able to effectively execute our growth strategy (including entering the retail market), take advantage of future opportunities, or respond to competitive pressures or unanticipated requirements. In addition, we may be required to scale back or discontinue expansion plans, or obtain funds through strategic alliances that may require us to relinquish certain rights.

**Our quarterly results may fluctuate because of many factors and, as a result, investors should not rely on quarterly operating results as indicative of future results.**

Fluctuations in operating results or the failure of operating results to meet the expectations of public market analysts and investors may negatively impact the value of our securities. Quarterly operating results may fluctuate in the future due to a variety of factors that could affect revenues or expenses in any particular quarter. Fluctuations in quarterly operating results could cause the value of our securities to decline. Investors should not rely on quarter-to-quarter comparisons of results of operations as an indication of future performance. As a result of the factors listed below, it is possible that in future periods the operation results may be below the expectations of public market analysts and investors. This could cause the market price of our securities to decline. Factors that may affect our quarterly results include:

● vulnerability of our business to a general economic downturn;

● seasonality of our business; and

● changes in the laws that affect our operations.

**We may not maintain sufficient insurance coverage for the risks associated with our business operations. As a result, we may incur uninsured losses.**

Except for property, accident and automobile insurance, we do not have other insurance such as business liability or disruption insurance coverage for our operations. As a result, we may incur uninsured liabilities and losses as a result f the conduct of our business. There can be no guarantee that we will be able to obtain additional insurance coverage in the future, and even if we are able to obtain additional coverage, we may not carry sufficient insurance coverage to satisfy potential claims. Should uninsured losses occur, any purchasers of our common stock could lose their investment.

***We are an emerging growth company within the meaning of the JOBS Act and will take advantage of certain exemptions from various reporting requirements, which may make our ordinary shares less attractive to investors.***

We are an "emerging growth company" as defined in the Jumpstart Our Business Startups Act of 2012 effective on April 5, 2012, or the JOBS Act, and we may take advantage of certain exemptions from various requirements that are applicable to other public companies that are not emerging growth companies. Most of such requirements relate to disclosures that we would only be required to make if we cease to be a foreign private issuer in the future, including exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Nevertheless, as a foreign private issuer that is an emerging growth company, we will not be required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act for up to five fiscal years after the date of this offering. We are also only required to report two years of financial results and selected financial data as an emerging growth company, compared to three and five years, respectively, for comparable data reported by other public companies. We may take advantage of these exemptions as long as we remain an emerging growth company, which could be for up to five years, although circumstances could cause us to lose that status earlier, including if our total annual gross revenues reach $1.07 billion, if the aggregate market value of our ordinary shares held by non-affiliates exceeds $700 million or if we issue more than $1.0 billion in non-convertible debt over a three year period. We cannot predict if investors will find our ordinary shares less attractive because we may rely on the above emerging growth company exemptions. If some investors find our ordinary shares less attractive as a result, there may be a less active trading market for our ordinary shares and the price of our ordinary shares may be more volatile.

**If we fail to maintain effective internal controls over financial reporting, the price of our common stock may be adversely affected.**

We are required to establish and maintain appropriate internal controls over financial reporting. Failure to establish those controls, or any failure of those controls once established, could adversely impact our public disclosures regarding our business, financial condition or results of operations. Any failure of these controls could also prevent us from maintaining accurate accounting records and discovering accounting errors and financial fraud.

In addition, management's assessment of internal controls over financial reporting may identify weaknesses and conditions that need to be addressed or other matters that may raise concerns for investors. Any actual or perceived weaknesses and conditions that need to be addressed in our internal control over financial reporting, disclosure of management's assessment of our internal controls over financial reporting, or disclosure of our public accounting firm's attestation to or report on management's assessment of our internal controls over financial reporting may have an adverse impact on the price of our common stock.

**Compliance with changing regulation of corporate governance and public disclosure will result in additional expenses.**

Changing laws, regulations and standards relating to corporate governance and public disclosure, including the Sarbanes-Oxley Act of 2002 and related Commission regulations, have created uncertainty for public companies and significantly increased the costs and risks associated with accessing the public markets and public reporting. Our management team will need to invest significant management time and financial resources to comply with both existing and evolving standards for public companies, which will lead to increased general and administrative expenses and a diversion of management time and attention from revenue generating activities to compliance activities.

**Our common stock may be considered a "penny stock," and thereby be subject to additional sale and trading regulations that may make it more difficult to sell.**

Our common stock, which is currently quoted for trading on OTC BB, may be considered to be a "penny stock" if it does not qualify for one of the exemptions from the definition of "penny stock" under Section 3a51-1 of the Securities Exchange Act for 1934, as amended (the "Exchange Act"). Our common stock may be a "penny stock" if it meets one or more of the following conditions: (i) the stock trades at a price less than $5.00 per share; (ii) it is NOT traded on a "recognized" national exchange; (iii) it is NOT quoted on the NASDAQ Capital Market, or even if so, has a price less than $5.00 per share; or (iv) is issued by a company that has been in business less than three years with net tangible assets less than $5 million.

The principal result or effect of being designated a "penny stock" is that securities broker-dealers participating in sales of our common stock will be subject to the "penny stock" regulations set forth in Rules 15-2 through 15g-9 promulgated under the Exchange Act. For example, Rule 15g-2 requires broker-dealers dealing in penny stocks to provide potential investors with a document disclosing the risks of penny stocks and to obtain a manually signed and dated written receipt of the document at least two business days before effecting any transaction in a penny stock for the investor's account. Moreover, Rule 15g-9 requires broker-dealers in penny stocks to approve the account of any investor for transactions in such stocks before selling any penny stock to that investor. This procedure requires the broker-dealer to (i) obtain from the investor information concerning his or her financial situation, investment experience and investment objectives; (ii) reasonably determine, based on that information, that transactions in penny stocks are suitable for the investor and that the investor has sufficient knowledge and experience as to be reasonably capable of evaluating the risks of penny stock transactions; (iii) provide the investor with a written statement setting forth the basis on which the broker-dealer made the determination in (ii) above; and (iv) receive a signed and dated copy of such statement from the investor, confirming that it accurately reflects the investor's financial situation, investment experience and investment objectives. Compliance with these requirements may make it more difficult and time consuming for holders of our common stock to resell their shares to third parties or to otherwise dispose of them in the market or otherwise.

**We do not foresee paying cash dividends in the foreseeable future and, as a result, our investors' sole source of gain, if any, will depend on capital appreciation, if any.**

We do not plan to declare or pay any cash dividends on our shares of common stock in the foreseeable future and currently intend to retain any future earnings for funding growth. As a result, investors should not rely on an investment in our securities if they require the investment to produce dividend income. Capital appreciation, if any, of our shares may be investors' sole source of gain for the foreseeable future. Moreover, investors may not be able to resell their shares of our company at or above the price they paid for them.

**Item 2.02 Results of Operations and Financial Condition.**

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

The following is a discussion of the financial condition and results of operations of Enteractive Media, Inc. This management's discussion and analysis of financial condition and results of operations should be read in conjunction with our financial statements and the related notes, and the other financial information included in this current report. All amounts set forth below are expressed in Canadian Dollars.

**Forward-Looking Statements**

We make forward-looking statements in this Form 8-K that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," "could," "will," "would," "ongoing," "future" or the negative of these terms or other similar expressions. Forward-looking statements include, but are not limited to, such matters as:

&nbsp;&nbsp;&nbsp;&nbsp;■ our ability to compete
 in our industry;

■ our expectations regarding
 our financial performance, including our revenue, costs and EBITDA;

■ the sufficiency of our
 cash, cash equivalents, and investments to meet our liquidity needs;

■ our
 ability to mitigate and address unanticipated performance problems on our websites, or platforms;

■ our
 ability to attract, retain, and maintain good relations with our customers;

■ our
 ability to anticipate market needs or develop new or enhanced offerings and services to meet those needs;

■ our
 ability to stay in compliance with laws and regulations, including tax laws, that currently apply or may become applicable to our
 business both in the U.S. and internationally and our expectations regarding various laws and restrictions that relate to our business;

&nbsp;&nbsp;&nbsp;&nbsp;■ our
 ability to anticipate the effects of existing and developing laws and regulations, including with respect to taxation, and privacy
 and data protection that relate to our business;

■ our
 ability to effectively manage our growth and maintain our corporate culture;

■ our
 ability to identify, recruit, and retain skilled personnel, including key members of senior management;

■ our
 ability to successfully identify, manage, consummate and integrate any existing and potential acquisitions;

■ our
 ability to maintain, protect, and enhance our intellectual property;

■ our
 ability to manage the increased expenses associated and compliance demands with being a public company; and

■ other
 factors detailed herein under "Risk Factors."

The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. The forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only predictions based upon our current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the risks provided under "Risk Factors" in this Form 8-K.

You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason after the date of this Form 8-K, to conform these statements to actual results or to changes in our expectations.

**Overview**

Enteractive Media Inc. (the "Company") was incorporated under the Canada Business Corporations Act on January 22, 2013. The Company is an international media, event and entertainment company. The Company has acquired a Category B digital specialty license from the Canadian Radio-television and Telecommunications Commission ("CRTC") for a television network branded PokerVision Network.

The Company's head office is located at 736 8th Ave. SW, Suite 510, Calgary, AB T2P 1H4.

**Critical Accounting Policies and Estimates**

Management's discussion and analysis of results of operations and financial condition are based upon our consolidated financial statements. These statements have been prepared in accordance with accounting principles generally accepted in the United States of America. These principles require management to make certain estimates and assumptions that affect amounts reported and disclosed in the financial statements and related notes. The most significant estimates and assumptions include valuation of inventories, provisions for income taxes, allowance for doubtful accounts, and the recoverability of the long-lived assets. Actual results could differ from these estimates. Periodically, we review all significant estimates and assumptions affecting the financial statements and record the effect of any necessary adjustments.

The following critical accounting policies rely upon assumptions and estimates and were used in the preparation of our consolidated financial statements:

**Foreign currency translation**. Transactions denominated in foreign currencies are translated using the exchange rate in effect on the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange in effect at the statement of financial position date. Non-monetary items are translated using the historical rate on the date of the transaction. Foreign exchange gains and losses are included in profit or loss.

***Revenue Recognition.*** The Company, though its website and other platforms provides broadcasting services featuring poker tournaments, eSports and gaming lifestyle. Revenue associated with the rendering of services is recognized by reference to the stage of completion of the transaction at the end of the reporting period when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the Company, the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. When the outcome of a transaction involving the rendering of services cannot be estimated reliably, revenue is recognized only to the extent of the expenses recognized that are recoverable.

***Income Taxes.*** Deferred tax assets and liabilities are recognized where the carrying amount of an asset or liability differs from its tax base, except for taxable temporary differences arising on the initial recognition of goodwill and temporary differences arising on the initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting nor taxable profit or loss.

Recognition of deferred tax assets for unused tax losses, tax credits and deductible temporary differences is restricted to those instances where it is probable that future taxable profit will be available against which the deferred tax asset can be utilized. At the end of each reporting year the Company reassesses unrecognized deferred tax assets. The Company recognizes a previously unrecognized deferred tax asset to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.

**Recently Issued Accounting Pronouncements**

From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company's financial statements upon adoption. No new pronouncements that would affect these financial statements had been issued during or subsequent to the issuance of these financial statements.

**Results of Operations**

**Nine Months Ended December 31, 2022 and 2021**

Total sales for the, for the nine months ended December 31, 2022 increased to $745, from zero for the nine months ended December 31, 2021.

Expenses primarily consists of general office expenses,, consulting fees, royalties, marketing expenses, travelling expenses, bank fees and professional fees including audit, accounting, legal and financial. Expenses for the nine months ended December 31, 2022 were $641,301, an increase of $122,039 or 24%, from $519,262 for the same period in 2021. The increase in expenses was primarily due to increase of consulting expenses related to developing our business.

Loss before other income increased to $640,556 for the nine months ended December 31, 2022 from $519,262 for the nine months ended December 31, 2021, an increase of $121,294, or 23%.

Net loss increased to $636,893 for the nine months ended December 31, 2022 from a net gain o $127,080 for the nine months ended December 31, 2021, an increase of $763,972. The increase was primarily a result of a large realized gain on marketable securities during the nine months ended December 31, 2021.

**Years Ended March 31, 2022 and 2021**

Total sales for the year ended March 31, 2022 were $354, a decrease of $11,067, from total sales of $11,427 for the year ended March 31, 2021. The decrease was primarily the result of a pivoting of our business plan during 2021.

Expenses primarily consists of general office expenses,, consulting fees, royalties, marketing expenses, travelling expenses, bank fees and professional fees including audit, accounting, legal and financial. Expenses for the year ended March 31, 2022 were $776,082, an increase of $372,175 or 92%, from $403,907 for the same period in 2021. The increase in expenses was primarily due to increase of consulting expenses related to developing our business.

Loss before other income increased to $775,728 for the year ended March 31, 2022 from $392,480 for the year ended March 31, 2021, an increase of $382,602, or 97%.

Net loss decreased to $242,943 for the year ended March 31, 2022 from $319,351 for the year ended March 31, 2021, a decrease of $76,408, or 24%. The decrease as a result of a large realized gain on marketable securities.

**Liquidity and Capital Resources**

At December 31, 2022, we had total current assets of $548,905 including cash of $9,687. We have historically financed our operations through the borrowing of long-term or short-term loans and the sales of equity,

We will require additional cash resources to fund our product development and marketing. Our ability to maintain sufficient liquidity depends partially on our ability to achieve anticipated levels of revenue, while continuing to control costs. If we do not have sufficient available cash, we would have to seek additional debt or equity financing through other external sources, which may not be available on acceptable terms, or at all. Failure to maintain financing arrangements on acceptable terms would have a material adverse effect on our business, results of operations and financial condition.

**Off-Balance Sheet Arrangements**

We have no material off-balance sheet transactions.

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

On March 9, 2023, we entered into the Acquisition Agreement with the owners of a majority interest of Enteractive Media, Inc. Pursuant to the Acquisition Agreement, we acquired 56.7% of Enteractive's issued and outstanding capital stock, making Enteractive a majority-owned subsidiary of our company. In consideration for the purchase of the majority interest in Enteractive, we issued to the sellers a total of 3,402,560 newly issued shares of our Class B common stock. The securities were offered and sold in reliance upon exemptions from registration pursuant to Section 4(2) under the Securities Act, and Regulation S promulgated thereunder.

**DESCRIPTION OF SECURITIES**

**Common Stock**

We are authorized to issue 100,000,000 shares of Class A common stock and 10,000,000 shares of Class B common stock, $0.0001 par value per share, of which 5,708,810 shares were issued and outstanding as of the closing of the Acquisition.

Each outstanding share of common stock regardless of class is entitled to one vote, either in person or by proxy, on all matters that may be voted upon by their holders at meetings of the stockholders.

Holders of our common stock, regardless of class:

i have equal ratable rights to dividends from funds legally available therefore, if declared by our Board of Directors;

ii are entitled to share ratably in all of our assets available for distribution to holders of common stock upon our liquidation, dissolution or winding up;

iii do not have preemptive, subscription or conversion rights or redemption or sinking fund provisions; and

iv are entitled to one non-cumulative vote per share on all matters on which stockholders may vote at all meetings of our stockholders.

The holders of shares of our common stock do not have cumulative voting rights, which means that the holders of more than fifty percent (50%) of outstanding shares voting for the election of directors can elect all of our directors if they so choose and, in such event, the holders of the remaining shares will not be able to elect any of our directors.

**Preferred Stock**

We may issue up to 1,000,000 shares of our preferred stock, par value $0.0001 per share, from time to time in one or more series. As of the date hereof, we have issued no shares of our preferred stock.

**Warrants**

Prior to the Acquisition, Parsec had no warrants to outstanding.

**Options**

Prior to the Acquisition, Parsec had no options to outstanding.

**MARKET PRICE OF THE COMPANY'S COMMON STOCK**

Parsec's Class A common stock was delisted from the Nasdaq Capital Market on December 16, 2022 and its not currently listed on any national exchange or listed for quotation on any service. Prior to December 16, 2022, our Class A common stock was traded on the Nasdaq Capital Market as part of a unit coupled with a warrant under the stock symbol "PCXCU." Our stock is not currently traded on any national exchange or listed for quotation on any service.

**Item 5.01 Changes in Control of Registrant.**

On March 9, 2023, we entered into the Acquisition Agreement with stockholders of Enteractive Media, Inc owning 56.7% of Enteractive's issued and outstanding common stock making Enteractive a majority owned subsidiary of Parsec, as more fully described in Item 2.02 above,

Immediately following the closing of the Acquisition, former Enteractive Media, Inc. shareholders own approximately 59.6% of our issued and outstanding common stock

At the consummation of the Acquisition, Parsec's sole director Paul Haber, appointed Kelly Kellner and Terry Debono to Parsec's board of directors, and appointed Kelly Kellner as Chief Executive Officer.

**EXECUTIVE OFFICERS, DIRECTORS AND KEY EMPLOYEES**

Upon closing of the Acquisition, the board of directors and executive management of our company was as follows:

---

| | | |
|:---|:---|:---|
| Name | Age | Position |
| Kelly Kellner | 55 | Chief Executive Officer and Director |
| Paul Haber | 51 | Chief Financial Officer and Director |
| Terry Debono | 64 | Independent Director |

---

Except as noted above, the above persons do not hold any other directorships in any company with a class of securities registered pursuant to Section 12 of the Exchange Act or subject to the requirements of Section 15(d) of the Exchange Act.

Mr. Kellner is 55 years old. Mr. Kellner has been the Chief Executive Officer of Enteractive Media, Inc. since January 2018 with whom the Company announced that they had entered into a business combination agreement.. Mr. Kellner has been in the gaming and media sector for the past 20 years and has been influential in building the Canadian Poker Tour and producing nationally televised poker and gaming content. He worked closely with regulators and broadcasters, as well as obtaining a Canadian television broadcast license. He was the Chief Executive Officer of HeadsUp Entertainment International Inc., a public company quoted on the OTC Markets. Prior to that, Mr. Kellner spent twelve years as an independent corporate finance consultant assisting companies in raising capital, going public, building investor relations platforms and cross listings on global exchanges outside North America. Mr. Kellner is expected to bring a key skill set and experience in media, gaming and corporate finance in his role as CEO.

Mr. Debono is 64 years old. Mr. Debono has been the CEO of his own consulting firm for the last five years. He is a 35+ year veteran of the media, gaming and technology sectors. His experience includes launching and operating television networks, land based gaming operations, as well as operating private data networks for charitable gaming fundraising, building and operating live dealer casinos on three continents , producing approximately 1,000 hours of gaming themed programming, launching and operating social gaming channels and creating and managing branded consumer brand contests and sweepstakes. His clients include broadcasters, media companies, ad agencies, government lotteries, hospital lotteries, charitable gaming operators, land based and online casino operators, First Nations/Tribal Gaming stakeholders, gaming hardware and software companies, regulators, government policy makers, researchers and financial analysts.

**Family Relationships**

None.

**Involvement in Certain Legal Proceedings**

There have been no events under any bankruptcy act, no criminal proceedings and no judgments, injunctions, orders or decrees material to the evaluation of the ability and integrity of any director, executive officer, promoter or control person of our company during the past five years.

There have been no material proceedings to which any director, officer or affiliate of our company, any owner of record or beneficially of more than five percent of any class of voting securities of our company, or any associate of any such director, officer, affiliate of our company, or security holder is a party adverse to our company or any of its subsidiaries, or to which any of such persons has a material interest adverse to our company or any of its subsidiaries.

**The Board of Directors and Committees**

Our Board of Directors does not maintain a separate audit, nominating or compensation committee. Functions customarily performed by such committees are performed by our Board of Directors as a whole. Our company is not required to maintain such committees under the rules applicable to companies that do not have securities listed or quoted on a national securities exchange or national quotation system. We intend to create board committees, including an independent audit committee, in the near future. If we are successful in listing our common stock on the American Stock Exchange or Nasdaq, we would be required to have, prior to listing, an independent audit committee formed, in compliance with the requirements for such listing and in compliance with Rule 10A-3 of the Securities Exchange Act of 1934.

**EXECUTIVE COMPENSATION**

**Summary Compensation Tables**

The following table sets forth information concerning the compensation for the fiscal years ended December 31, 2021 and 2022 of the principal executive officer, principal financial officer, in addition to our three most highly compensated officers whose annual compensation exceeded $100,000, and up to two additional individuals for whom disclosure would have been required but for the fact that the individual was not serving as an executive officer of the registrant at the end of the last fiscal year.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Name and Position | Year | Salary | Bonus | All other<br> compensation (1) | Total |
| Kelly Kelner, CEO | 2021 | – |  | $45886 | $45886 |
|  | 2022 | – |  | $10000 | $10000 |
| Terry Debono, Director | 2022 | – |  | $5000 | $5000 |

---

(1) Represents compensation paid in the form of consulting fees.

**Grants of Plan-Based Awards in 2022.**

There were no option grants in 2022.

**Outstanding Equity Awards at 2022 Fiscal Year End**

There were no option exercises or options outstanding in 2022.

**Option Exercises and Stock Vested in 2022**

There were no option exercises or stock vested in 2022.

**Pension Benefits**

There were no pension benefit plans in effect in 2022.

**Nonqualified defined contribution and other nonqualified deferred compensation plans**

There were no nonqualified defined contribution or other nonqualified deferred compensation plans in effect in 2022.

**Employment Agreements**

Our company does not have any employment agreements with its executive officers and directors, but intends to enter into such agreements in the near future.

**Director Compensation**

We do not currently have an established policy to provide compensation to members of our Board of Directors for their services in that capacity. We intend to develop such a policy in the near future.

Our Board of Directors does not currently have a compensation committee. We anticipate that our Board of Directors will establish a compensation committee in the near future that will comprise non-employee members of our Board of Directors. Our current expectation is that the compensation committee of our Board of Directors will perform, at least annually, a strategic review of the compensation program for our executive officers to determine whether it provides adequate incentives and motivation to our executive officers and whether it adequately compensates our executive officers relative to comparable officers in other companies with which we compete for executives.

**CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS**

Upon closing of the Acquisition, Enteractive Media, Inc. became a majority-owned subsidiary of Parsec, which companies now have interlocking executive and director positions.

**Acquisition**

On March 9, 2023, the Company completed the Acquisition of a majority in interest of Enteractive Media, Inc. At the closing, Enteractive Media, Inc. became a majority-owned subsidiary of the Company. An aggregate of 3,402,560 shares of Class B common stock were issued to the majority shareholders of Enteractive Media, Inc. As of the close of the Acquisition, the formed majority shareholders of Enteractive Media, Inc owned approximately 59.6% of the issued and outstanding stock of the Company.

Our Board of Directors, with the exception of Paul Haber resigned in full and appointed Kelly Kellner and Terry Debono to the board of directors of our company. Our board of directors also appointed Kelly Kellner as Chief Executive Officer. Paul Haber remains our Chief Financial Officer.

**INDEMNIFICATION OF DIRECTORS AND EXECUTIVE OFFICERS AND LIMITATION OF LIABILITY**

Under Section 145 of the General Corporation Law of the State of Delaware, we can indemnify our directors and officers against liabilities they may incur in such capacities, including liabilities under the Securities Act. Our certificate of incorporation provides that, pursuant to Delaware law, our directors shall not be liable for monetary damages for breach of the directors' fiduciary duty of care to us and our stockholders. This provision in the certificate of incorporation does not eliminate the duty of care, and in appropriate circumstances equitable remedies such as injunctive or other forms of non-monetary relief will remain available under Delaware law. In addition, each director will continue to be subject to liability for breach of the director's duty of loyalty to us or our stockholders, for acts or omissions not in good faith or involving intentional misconduct or knowing violations of the law, for actions leading to improper personal benefit to the director, and for payment of dividends or approval of stock repurchases or redemptions that are unlawful under Delaware law. The provision also does not affect a director's responsibilities under any other law, such as the federal securities laws or state or federal environmental laws.

Our bylaws provide for the indemnification of our directors to the fullest extent permitted by the Delaware General Corporation Law. Our bylaws further provide that our Board of Directors has discretion to indemnify our officers and other employees. We are required to advance, prior to the final disposition of any proceeding, promptly on request, all expenses incurred by any director or executive officer in connection with that proceeding on receipt of an undertaking by or on behalf of that director or executive officer to repay those amounts if it should be determined ultimately that he or she is not entitled to be indemnified under the bylaws or otherwise. We are not, however, required to advance any expenses in connection with any proceeding if a determination is reasonably and promptly made by our Board of Directors by a majority vote of a quorum of disinterested Board members that (i) the party seeking an advance acted in bad faith or deliberately breached his or her duty to us or our stockholders and (ii) as a result of such actions by the party seeking an advance, it is more likely than not that it will ultimately be determined that such party is not entitled to indemnification pursuant to the applicable sections of its bylaws.

We have been advised that in the opinion of the Securities and Exchange Commission, insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. In the event a claim for indemnification against such liabilities (other than our payment of expenses incurred or paid by our director, officer or controlling person 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, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

We may enter into indemnification agreements with each of our directors and officers that are, in some cases, broader than the specific indemnification provisions permitted by Delaware law, and that may provide additional procedural protection. As of the Effective Time of the reverse acquisition, we have not entered into any indemnification agreements with our directors or officers, but may choose to do so in the future. Such indemnification agreements may require us, among other things, to:

● indemnify
 officers and directors against certain liabilities that may arise because of their status
 as officers or directors;

● advance
 expenses, as incurred, to officers and directors in connection with a legal proceeding, subject
 to limited exceptions; or

● obtain
 directors' and officers' insurance.

At present, there is no pending litigation or proceeding involving any of our directors, officers or employees in which indemnification is sought, nor are we aware of any threatened litigation that may result in claims for indemnification.

**SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT FOLLOWING THE REVERSE ACQUISITION**

Beneficial ownership is determined in accordance with the rules of the Commission. In computing the number of shares beneficially owned by a person and the percentage of ownership of that person, shares of common stock subject to options and warrants held by that person that are currently exercisable on February 28, 2023 are deemed outstanding even if they have not actually been exercised. Those shares, however, are not deemed outstanding for the purpose of computing the percentage ownership of any other person. As of February 28, 2023, there were no shares of common stock subject to options and warrants held by any person.

Immediately prior to the closing of the Acquisition, we had outstanding 2,306,250 shares of common stock. Immediately after the closing of the Acquisition, we had 5,708,810 issued and outstanding shares of common stock, no options and no warrants issued and outstanding.

The following table sets forth certain information with respect to beneficial ownership of our common stock immediately after the closing of the Acquisition abased on 5,708,810 issued and outstanding shares of Class B common stock, by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Each
 person known to be the beneficial owner of 5% or more of our outstanding common stock;

● Each
 executive officer;

● Each
 director; and

● All
 of the executive officers and directors as a group.

Unless otherwise indicated, the persons and entities named in the table have sole voting and sole investment power with respect to the shares set forth opposite the stockholder's name, subject to community property laws, where applicable. Unless otherwise indicated, the address of each stockholder listed in the table is c/o the Company at 736 8th Ave. SW, Suite 510, Calgary, AB T2P 1H4

---

| | | | |
|:---|:---|:---|:---|
| **Name**<br> **of Beneficial Owner** | **Title** | **Beneficially**<br> **Owned Shares**<br> **Post-Acquisition** (1) | **Percent**<br> **of Class** |
| Directors and Executive Officers: |  |  |  |
| Kelly Kellner | Chief Executive Officer |  |  |
| Terry Debono | Director | 400000 | 7.0% |
| Paul Haber | Chief Financial Officer | 90000 | 1.6% |
| All Officers and Directors as a Group (total of 3 persons) |  | 490000 | 8.6% |
| 5% Stockholders: |  |  |  |
| Hunter Beachwood Investments |  | 837600 | 14.7% |
| Penfold Capital Markets, LP |  | 900000 | 16.0% |
| Serious Moonlight Capital, LP |  | 567850 | 9.9% |
| 1992689 Alberta, Inc. |  | 697500 | 12.2% |
| Total 5% Stockholders |  | 3002560 | 52.8% |
| Total Officers, Directors and 5% Stockholders |  | 3492560 | 61.4% |

---

(1) Represents shares of the Company's Class B common stock.

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

For complete information regarding our new officers and directors, refer to "Executive Officers, Directors and Key Employees" under Item 5.01, above.

**Item 5.06 Change in Shell Company Status.**

Prior to the closing of the acquisition, Parsec was a "shell company" as defined in Rule 405 of the Securities Act and Rule 12b-2 of the Exchange Act. As described in Item 2.01 above, which is incorporated by reference into this Item 5.06, Parsec ceased being a shell company upon completion of the acquisition on March 9, 2023.

**Item 9.01** **Financial Statements and Exhibits.**

---

| | |
|:---|:---|
| Exhibit | Description |
| 10.1 | [Stock Exchange and Reorganization Agreement](ex10-1.htm) |
| 99.1 | [Enteractive Media, Inc. Financial Statements](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

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

Dated: March 29, 2023

---

| | |
|:---|:---|
| PARSEC CAPITAL ACQUSITIONS CORP | PARSEC CAPITAL ACQUSITIONS CORP |
| By: | */s/ Kelly Kellner* |
| Name: | Kelly Kellner |
| Title: | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**STOCK EXCHANGE AND REORGANIZATION AGREEMENT**

This Stock Exchange and Reorganization Agreement (this "Agreement") is made and entered into as of February 21, 2023 by and among Parsec Capital Acquisition Corp., a Delaware corporation ("Parsec" or the "Purchaser"), Enteractive Media, Inc. doing business as Game Changerz,.. a corporation incorporated under the laws of Canada ("GC") and the principal stockholders of GC set forth on Schedule "A" hereto (the "Principal GC Stockholders"). Each of the Purchaser, GC and the Principal GC Stockholders are referred to herein individually as the "**Party**" and collectively as the "**Parties**."

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. WHEREAS, the Principal GC Stockholders own, in the aggregate, 56.7% of the issued and outstanding share of common stock of GC (the "GC Majority Shares"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. WHEREAS, subject to the terms and conditions set forth herein, the Principal GC Stockholders wish to sell to Purchaser and Purchaser desires to purchase from the Principal GC Stockholders, the GC Majority Shares for the purchase price per share set forth in this Agreement (the "Majority Shares Transaction");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. WHEREAS, the Company and the principals of GC had entered into an Agreement and Plan of Merger on October 13, 2022, as amended on November 1, 2022 (the "Original Agreement") which original Agreement shall be superceded by this Agreement and the Original Agreement shall be deemed null and void; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. WHEREAS, Purchaser will also acquire the remaining 43.3% percent of GC (the "GC Minority Shares") pursuant to separate Minority Stockholder Stock Purchase Agreements (the "GC Minority Shares Transaction") (the combined purchase of the GC Majority Shares and GC Minority Shares shall be referred to herein collectively, as the "Transaction").

NOW, THEREFORE, in consideration of the foregoing premises, and the covenants, representations and warranties set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and accepted the Parties, intending to be legally bound, hereby agree as follows:

**ARTICLE I**

**DEFINITION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <u>Definitions</u>.

For all purposes of and under this Agreement, the following terms shall have the following respective meanings:

"**Action**" means any action, suit, inquiry, notice of violation, proceeding (including any partial proceeding such as a deposition) or investigation pending or threatened before or by any court, arbitrator, governmental or administrative agency, regulatory authority (federal, state, county, local or foreign), stock market, stock exchange or trading facility.

"**Affiliate**" has the meaning set forth in Rule 12b-2 of the regulations promulgated under the Exchange Act.

"**Business Day**" shall mean any day other than a Saturday, Sunday or a day on which commercial banks in New York, New York are required or authorized to be closed.

"**Code**" means the Internal Revenue Code of 1986, as amended.

"**Contract**" means any written or oral contract, lease, license, indenture, note, bond, agreement, arrangement, understanding, permit, concession, franchise or other instrument.

"**Exchange Act**" means the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations of the SEC thereunder, all as the same will then be in effect.

"**GAAP**" means, with respect to any Person, generally accepted accounting principles in the U.S. applied on a consistent basis with such Person's past practices.

"**Governmental Authority**" means any domestic or foreign, federal or national, state or provincial, municipal or local government, governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, political subdivision, commission, court, tribunal, official, arbitrator or arbitral body

"**Indebtedness**" means without duplication, (a) all indebtedness or other obligation of the Person for borrowed money, whether current, short-term, or long-term, secured or unsecured, (b) all indebtedness of the Person for the deferred purchase price for purchases of property outside the Ordinary Course of Business, (c) all lease obligations of the Person under leases which are capital leases in accordance with GAAP, (d) any off-balance sheet financing of the Person including synthetic leases and project financing, (e) any payment obligations of the Person in respect of banker's acceptances or letters of credit (other than stand-by letters of credit in support of ordinary course trade payables), (f) any liability of the Person with respect to interest rate swaps, collars, caps and similar hedging obligations, (g) any liability of the Person under deferred compensation plans, phantom stock plans, severance or bonus plans, or similar arrangements made payable as a result of the transactions contemplated herein, (h) any indebtedness referred to in clauses (a) through (g) above of any other Person which is either guaranteed by, or secured by a security interest upon any property owned by, the Person and (i) accrued and unpaid interest, of, and prepayment premiums, penalties or similar contractual charges arising as result of the discharge at Closing of, any such foregoing obligation.

"**Intellectual Property**" means all industrial and intellectual property, including, without limitation, all U.S and non-U.S. patents, patent applications, patent rights, trademarks, trademark applications, common law trademarks, Internet domain names, trade names, service marks, service mark applications, common law service marks, and the goodwill associated therewith, copyrights, in both published and unpublished works, whether registered or unregistered, copyright applications, franchises, licenses, know-how, trade secrets, technical data, designs, customer lists, confidential and proprietary information, processes and formulae, all computer software programs or applications, layouts, inventions, development tools and all documentation and media constituting, describing or relating to the above, including manuals, memoranda, and records, whether such intellectual property has been created, applied for or obtained anywhere throughout the world.

"**Knowledge**" shall mean, except as otherwise explicitly provided herein, actual knowledge after reasonable investigation. The Purchaser and GC shall be deemed to have "Knowledge" of a matter if any of their respective officers or directors, has Knowledge of such matter. Phrases such as "to the Knowledge of GC" or "to the Knowledge of Purchaser" shall be construed accordingly.

"**Laws**" means, with respect to any Person, any U.S. or non-U.S., federal, national, state, provincial, local, municipal, international, multinational or other Law (including common law), constitution, statute, code, ordinance, rule, regulation or treaty applicable to such Person.

"**Liability**" means any liability (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due), including any liability for Taxes.

"**Lien**" means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind, including, without limitation, any conditional sale or other title retention agreement, any lease in the nature thereof and the filing of or agreement to give any financing statement under the Uniform Commercial Code of any jurisdiction and including any lien or charge arising by Law.

"**Material Adverse Effect**" means, with respect to any Person, a material adverse effect on the business, financial condition, operations, results of operations, assets or future prospects of such Person.

"**Order**" means any order, judgment, ruling, injunction, assessment, award, decree or writ of any Governmental Authority or regulatory body.

"**Ordinary Course of Business**" means the ordinary course of business consistent with past custom and practice (including with respect to quantity and frequency).

"**Party**" and "**Parties**" have the respective meanings set forth in the preamble.

"**Person**" means all natural persons, corporations, business trusts, associations, companies, partnerships, limited liability companies, joint ventures and other entities, governments, agencies and political subdivisions.

"**Private Placement**" shall have the meaning set forth in Section 7.12

"**Purchaser"** has the meaning set forth in the preamble.

"**Purchaser Common Stock**" means the common stock, par value $0.0001 per share, of the Purchaser.

"**Purchaser Disclosure Schedule**" has the meaning set forth in <u>Article V</u>.

"**Purchaser Most Recent Fiscal Year End**" means March 31, 2022.

"**Purchaser Organizational Documents**" has the meaning set forth in Section 4.5.

"**SEC**" means the U.S. Securities and Exchange Commission, or any successor agency thereto.

"**Securities Act**" means the Securities Act of 1933, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same will be in effect at the time.

"**Subsidiary**" when used in reference to any Person shall mean any corporation, limited liability company or other form of legal entity of which outstanding securities having ordinary voting power to elect a majority of the Board of Directors of such corporation (or the equivalent thereof) are owned directly or indirectly by such Person.

"**Tax Return**" means all returns, declarations, reports, estimates, statements, forms and other documents filed with or supplied to or required to be provided to a Governmental Authority with respect to Taxes, including any schedule or attachment thereto and any amendment thereof.

"**Tax**" or "**Taxes**" means all taxes, assessments, duties, levies or other charge imposed by any Governmental Authority of any kind whatsoever together with any interest, penalties, fines or additions thereto and any liability for payment of taxes whether as a result of (i) being a member of an affiliated, consolidated, combined, unitary or similar group for any period, (ii) any tax sharing, tax indemnity or tax allocation agreement or any other express or implied agreement to indemnify any Person, (iii) being liable for another Person's taxes as a transferee or successor otherwise for any period, or (iv) operation of Law.

"**Transaction Documents**" means, collectively, this Agreement and all agreements, certificates, instruments and other documents to be executed and delivered in connection with the transactions contemplated by this Agreement.

"**Treasury Regulations**" means the income tax regulations, including temporary regulations, promulgated under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations).

"**U.S.**" means the United States of America.

**ARTICLE II - PURCHASE AND SALE OF THE GC Majority Shares**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 **Purchase and Sale of Stock**

Subject to the terms and conditions hereof, on the Closing Date (as defined below), each of the Principal GC Stockholders shall sell, convey, transfer, assign and deliver to Purchaser, and Purchaser shall purchase from the Principal GC Stockholders the number of the GC Shares set forth opposite their names on the Schedule 2.1 attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 **The Closing** 

The closing of this Agreement (the "Closing") shall occur on a date mutually agreeable by the parties following the satisfaction or, if permitted pursuant hereto, waiver of the conditions to Closing of each party set forth below (the "Closing Date") at 10:00 a.m. local time at the offices of Cyruli Shanks & Zizmor, LLP, or such other time or location as the parties hereto shall agree. At the Closing, each of the parties hereto shall deliver all such documents, instruments, certificates and other items as may be required under this Agreement or the Operative Documents (as defined in Section 3.3 hereof) or otherwise. The Parties acknowledge and agree that they will use their respective commercially reasonable best efforts to cause the Closing to occur on or before February 28, 2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 **Purchase Price**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.1 **Consideration Shares.** Subject to the terms and conditions of this Agreement, the total purchase price for all of the issued and outstanding GC Shares (including the shares to be purchased from the GC Minority Stockholders) (the "Purchase Price") shall be 6,000,000 newly issued shares (the "Consideration Shares") of Purchaser Class B Common Stock, of which 3,402,950 shall be paid to the Principal GC Stockholders in exchange for the GC Majority Shares, on a pro rata basis. In addition, as part of the Transaction, at the Closing, GC Minority Stockholders shall receive an aggregate of 2,597,050 of the Consideration Shares, pursuant to separate Minority Stockholder Stock Purchase Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.2 **No Fractional Securities.** No certificates or scrip representing fractional Purchaser Common Stock shall be issued pursuant to this Article. In lieu of any such fractional securities, each Principal GC Stockholders who would otherwise have been entitled to a fraction of a share of Consideration Shares will be paid cash for an amount equal to such fraction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 **Assistance in Consummation of the Purchase and Sale of the GC Majority Shares**

The Principal GC Stockholders, GC and Purchaser shall provide all reasonable assistance to, and shall cooperate with, each other to bring about the consummation of the purchase and sale of the GC Majority Shares and the other transactions contemplated herein as soon as possible in accordance with the terms and conditions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 **Tax Consequences**

For U.S. federal income Tax purposes, the Transaction is intended to constitute a "reorganization" within the meaning of Section 368(a)(l)(B) of the Code. The Parties hereby adopt this Agreement as a "plan of reorganization" within the meaning of Sections 1.368-2(g) and 1.368-3(a) of the Treasury Regulations.

2.6 **Bonus Shares**

The directors of the Purchaser shall receive an aggregate of 150,000 shares of Purchaser Class B Common Stock upon the Closing.

**ARTICLE III - REPRESENTATIONS AND WARRANTIES**

**OF GC AND THE PRINCIPAL GC STOCKHOLDERS**

As of the date of this Agreement and as of the Closing, subject to the exceptions and qualifications specifically set forth or disclosed in writing in the disclosure schedule delivered by GC and the Principal GC Stockholders (the "GC Disclosure Schedule") and which is arranged according to the numbered and lettered paragraphs of this <u>Article III</u>, (a) GC represents and warrants to Purchaser and (b) the Principal GC Stockholders, to the best of each such Principal GC Stockholders' knowledge, represent and warrant, severally and not jointly, to Purchaser, in this Article III, with such representations and warranties intended to apply to both GC and its Subsidiaries, as and when applicable, and in the case of each Principal GC Stockholder only as to itself and not the other Principal GC Stockholders, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 **Good Title**

Each Principal GC Stockholder represents that it owns such number of GC Shares set forth opposite its name on Schedule 2.1 hereto, free and clear of any lien, encumbrance, adverse claim, restriction on sale or transfer (other than restrictions imposed by applicable securities laws), preemptive right or option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 **Organization, Good Standing**

GC and each of its subsidiaries is a corporation or limited liability company duly organized and validly existing under the laws of the jurisdiction in which it was formed. GC has all requisite power and authority to own its assets, those properties and conduct those businesses presently owned or conducted by it, and is duly qualified to do business as it is now being conducted and is in good standing in the jurisdiction where the property owned, leased or used by it or the conduct of its business makes such qualification necessary, except where the lack of such qualification would not have a Material Adverse Effect on GC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 **Authorization**

GC has full corporate power and authority and each Principal GC Stockholder has the full power, right and authority to enter into this Agreement and each of the other documents that it will deliver pursuant to the Transaction (collectively, the "Operative Documents"), and to carry out the transactions contemplated hereby and thereby. This Agreement has been, and each Operative Document to which GC or the Principal GC Stockholders is a Party will be, on the Closing Date, duly executed and delivered by each of GC and the Principal GC Stockholder, as applicable, and this Agreement is, and each Operative Document to which GC or the Principal GC Stockholder is a Party will be, on the Closing Date, a legal, valid and binding obligation of each of GC and the Principal GC Stockholder, as applicable, enforceable against each of them in accordance with their respective terms of this Agreement and each such Operative Document, subject, as to enforceability, to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability affecting the rights of creditors and to general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 **Authorized Capitalization**

On the date of this Agreement, there are 60,000,000 issued and outstanding shares of GC Shares ("GC Ordinary Shares"), of which 34,029,500 shares are held in the aggregate by the Principal GC Stockholders and 25,970,500 are held in the aggregate by GC Minority Stockholders. All issued and outstanding GC Shares are validly issued, fully paid and nonassessable. There are no outstanding or authorized subscriptions, options, warrants, calls, rights, commitments or other agreements of any character which obligate or may obligate GC, or any of its subsidiaries to issue any additional shares of any of its capital stock or any securities convertible into or evidencing the right to subscribe for any shares of any such capital stock. Except as set forth in Section 3.4 of the GC Disclosure Schedule, (a) there are no voting trusts or other agreements or understandings with respect to the capital stock of GC to which GC is a Party or by which GC is bound and (b) there are no such agreements or understandings to which any of the Stockholders are a Party or by which any of the Principal GC Stockholders are bound. Except as set forth in Section 3.4 of the GC Disclosure Schedule, none of the Principal GC Stockholders are indebted to GC and GC is not indebted to any of the Principal GC Stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 **Subsidiaries and Affiliates**

Except as set forth in Schedule 3.5 of the GC Disclosure Schedule, GC does not own, directly or indirectly, any ownership, equity, profits or voting interest in, or otherwise control, any corporation, partnership, joint venture or other entity, and has no agreement or commitment to purchase any such interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 **No Approvals or Notices Required; No Conflicts With Instruments**

The execution, delivery and performance of this Agreement and the Operative Documents by GC and each Principal GC Stockholder and the consummation of the transactions contemplated hereby and thereby will not in any way which would result in a Material Adverse Effect, (a) constitute a violation (with or without the giving of notice or lapse of time, or both) of any provision of law or any judgment, decree, order, regulation or rule of any court or other governmental authority applicable to GC or the Principal GC Stockholders, (b) require any consent, approval or authorization of, or declaration, filing or registration with, any Person (the consent of all such Persons to be duly obtained by GC and the Principal GC Stockholders at or prior to the Closing), (c) result in a default (with or without the giving of notice or lapse of time, or both) under, acceleration or termination of, or the creation in any Party of the right to accelerate, terminate, modify or cancel, any agreement, lease, note or other restriction, encumbrance, obligation or liability to which GC or the Principal GC Stockholder is a Party or by which either of them is bound or to which any of their assets are subject, (d) result in the creation of any lien or encumbrance upon the assets of GC or upon the GC Shares, (e) conflict with or result in a breach of or constitute a default under any provision of the Articles and Memorandum of Association of GC (the "GC Organizational Documents"), or (f) invalidate or adversely affect any permit, license, authorization or status used in the conduct of the business of GC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 **Financial Statements**

GC has delivered to Purchaser a consolidated audited financial statements including a balance sheet, statement of operations and retained earnings of GC and its Subsidiaries, and statements of cash flows and equity of the GC and its Subsidiaries, together with the related notes thereto for the 12-month periods ending March 31, 2021 and March 31, 2022 (collectively, the "Audited Financial Statements"). The Audited Financial Statements each are complete and correct in all material respects and fairly present the financial condition of GC as of the dates thereof and the results of their operations for the fiscal years and periods ended on such dates and each has been prepared on a basis consistent with prior accounting periods and in accordance with United States generally accepted accounting principles and the rules of the Public Company Accounting Oversight Board consistently applied. The Audited Financial Statements present fairly the financial position, results of operations and changes in financial position of GC as of the dates and for the periods indicated.

GC has no material liability or obligation of any nature (absolute, contingent or otherwise) which is not fully reflected or reserved against in the Audited Financial Statements other than liabilities or obligations (i) in the ordinary course of business and consistent with past practice and not in excess of $10,000 in the aggregate or $2,500 individually or (ii) specifically set forth in Schedule 3.7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 **Absence or Certain Changes or Events**

Except as set forth in the Audited Financial Statements or as specifically contemplated by this Agreement, since January 1, 2023, neither GC nor any of its officers or directors in their representative capacity on behalf of GC has:

&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) taken any action or entered into or agreed to enter into any transaction, agreement or commitment other than 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;(b) forgiven or canceled any indebtedness or waived any claims or rights of material value (including, without limitation, any indebtedness owing by the Stockholders or any officer, director or employee of GC);

&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) suffered any material adverse change in its working capital, assets, liabilities (absolute, accrued, contingent or otherwise), earnings or reserves or in its financial condition, business, business prospects or operations;

&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) borrowed or agreed to borrow any funds, assumed or become subject to, whether directly or by way of guarantee or otherwise, any obligation or liability (absolute or contingent), or incurred any liabilities or obligations (absolute, accrued, contingent or otherwise) which exceed in the aggregate $25,000 (counting obligations or liabilities arising from one transaction or a series of similar transactions, and all periodic installments or payments under any lease or other agreement providing for periodic installments or payments, as a single obligation or liability), except liabilities and obligations reflected in the balance sheet contained within the Audited Financial Statements for the 12-months ended March 31, 2022 (the "2022 Balance Sheet") or incurred since the date of the 2022 Balance Sheet in the Ordinary Course of Business and consistent with past practice which do not exceed $10,000 in the aggregate, or increased, or experienced any change in any assumptions underlying or methods of calculating, any bad debt, contingency or other reserves;

&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) permitted or allowed any of its material property or assets (real, personal or mixed, tangible or intangible) to be subjected to any mortgage, pledge, lien, security interest, encumbrance, restriction or charge, except for (i) assessments for current taxes not yet due and payable, (ii) landlord's liens for rental payments and other lease-related performance incurred in the ordinary course of business and not yet due and payable, and (iii) mechanics', materialmen's, carriers' and other similar liens securing indebtedness that was incurred in the ordinary course of business and is not yet 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;(f) written off as uncollectible any material notes or accounts receivable;

&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) sold, transferred or otherwise disposed of any of its properties or assets (real, personal or mixed, tangible or intangible), except in the ordinary course of business and consistent with past practice;

&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) disposed of or permitted to lapse any rights to the use of any trademark, trade name, patent or copyright, or trade secrets of GC;

&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) made any capital expenditure or commitment to make a capital expenditure for additions to property, plant, equipment or intangible capital assets in excess of $10,000.00;

&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) made any change in any method of accounting or accounting practice;

&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) issued any capital stock or other securities or declared, paid or set aside for payment any dividend or other distribution in respect of its capital stock or redeemed, purchased or otherwise acquired, directly or indirectly, any shares of capital stock or other securities of GC or any Subsidiary or otherwise permitted the material withdrawal by any of the holders of capital stock of GC or any Subsidiary of any cash or other assets (real, personal or mixed, tangible or intangible), in compensation, indebtedness or otherwise, other than payments of compensation in the ordinary course of business and consistent with past practice;

&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) paid, loaned or advanced any amount to, or sold, transferred or leased any properties or assets (real, personal or mixed, tangible or intangible), with the exception of travel or other employment related advances, to, or entered GC any agreement or arrangement with, any of the holders of capital stock of GC, or any affiliate of such holder or any of its officers or directors, except for compensation paid to officers at rates not exceeding the rate of compensation as of January 1, 2023;

&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) entered into or agreed to enter into, or otherwise suffered to be outstanding, any power of attorney of GC or any obligations or liabilities (whether absolute, accrued, contingent or otherwise) of GC, as guarantor, surety, co-signer, endorser, co-maker, indemnitor or otherwise in respect of the obligation of any other 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;(n) received notice of, or otherwise obtained knowledge of: (i) any claim, action, suit, arbitration, proceeding or investigation involving, pending against or threatened against GC before or by any court or governmental or non-governmental department, commission, board, bureau, agency or instrumentality, or any other Person; (ii) any valid basis for any material claim, action, suit, arbitration, proceeding, investigation or the application of any fine or penalty materially adverse to GC before or by any Person; or (iii) any outstanding or unsatisfied judgments, orders, decrees or stipulations to which GC is a Party which relate directly to the transactions contemplated herein or which would otherwise have a material adverse effect upon the business, business prospects, assets or financial condition of GC, 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;(o) agreed, whether in writing or otherwise, to take any action described in this Section 3.8 not otherwise specifically disclosed pursuant to this Section 3.8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 **Taxes**

GC has (a) duly and timely filed, with Revenue Canada, the US Internal Revenue Service and other appropriate governmental agencies (domestic and foreign) all tax returns, information returns and reports for all Taxes (as defined below) required to have been filed with respect to GC and (b) paid in full or provided for all Taxes, interest and other governmental charges which are shown to be due on such returns or reports. "Taxes" shall mean all taxes, charges, fees, levies or other assessments, including, but not limited to, income, excise, gross receipts, property, sales, use, ad valorem, transfer, franchise, profit, license, withholding, payroll, employment, severance, stamp, occupation, windfall profit, social security and unemployment or other taxes imposed by the Canada, the United States or any agency or instrumentality thereof, any state, county, local or foreign government, or any agency or instrumentality thereof, and any interest or fines, and any and all penalties or additions relating to such taxes, charges, fees, levies or other assessments. Furthermore, (i) the reserves and provisions for Taxes reflected in the 2022 Balance Sheet are adequate; (ii) no unresolved claim for assessment or collection of Taxes has been asserted or threatened against GC and no audit or investigation by governmental authorities is under way with respect to Taxes, interest or other governmental charges; (iii) no state of facts exists or has existed which would constitute a reasonable basis for the assessment against GC of any additional tax liability with respect to any period for which tax returns have been filed; and (iv) GC has not filed or entered into any election, consent or extension agreement or any waiver that extends any applicable statute of limitations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 **Intellectual Property**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Set forth in Section 3.10 of the GC Disclosure Schedule, is a true and complete list of all inventions, patents, trademarks, trade names, brand names, copyrights and domain names (collectively, the "Listed Intellectual Property") of any kind now used in the business of GC except for mass-market third-Party software packages used by GC. Section 3.10 of the GC Disclosure Schedule contains a complete list of all licenses or agreements, to which GC with respect to any of the Listed Intellectual Property (the "Intellectual Property Licenses"). To the Knowledge of GC, neither GC's operations nor any Listed Intellectual Property or Intellectual Property License infringes or provides any basis to believe that GC's operations or any Listed Intellectual Property or Intellectual Property License would infringe upon any valid Intellectual Property of any other Person, nor is there, to the best of GC's knowledge, any infringement by any other Person of any of the Listed Intellectual Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth in Section 3.10 of the GC Disclosure Schedule and except for any mass mark, off-the-shelf or downloaded software or similar types of Intellectual Property Licenses, GC is the sole and exclusive owner or licensee 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;(i) the Listed Intellectual Property and the technology, know-how and processes now used by GC, or used in connection with any product now being manufactured and sold by GC; 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) all rights, title and interest in and to the computer software listed in the Listed Intellectual Property, with all modifications, enhancements and additions thereto, including, without limitation, all rights in and to all versions thereof and all source code, object code, manuals and other documentation and related materials thereof (collectively, the "Website Software"). Without limiting the generality of the above, the Website Software includes GC's related programs, database structures, database contents, HTML, Perl, JavaScript and all other scripting and programming implementing each GC website, trade secrets, algorithms and processes relating to the Website Software or such programs, Website Software copyright in and to each and all works derivative therefrom, all current, enhanced and developmental versions of the source and object code and any variations thereof, all user and programmer documentation, all design specifications, all system documentation (including all flow charts, systems procedures and program component descriptions), all procedures for modification and preparation for the release of enhanced versions and all test data available (excluding all proprietary information of third parties) with respect to the Website Software.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each of the Intellectual Property Licenses is valid, binding and enforceable in accordance with its terms against the parties thereto (subject, as to enforceability, to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability affecting the rights of creditors and to general principles of equity), GC has performed all obligations imposed upon it thereunder, GC is not in default thereunder, nor and to the Knowledge of GC, is there any event which with notice or lapse of time, or both, would constitute a default thereunder. GC has not received notice that any Party to any of the Intellectual Property Licenses intends to cancel, terminate or refuse to renew the same or to exercise or decline to exercise any option or other right thereunder. No director, officer, stockholders or employee of GC owns, directly or indirectly, in whole or in part, any of the Listed Intellectual Property. None of the officers of GC and none of GC's employees, and none of its consultants, agents, representatives or advisers has entered into any agreement regarding know-how, trade secrets, assignment of rights in inventions, or prohibition or restriction of competition or solicitation of customers, or any other similar restrictive agreement or covenant, with any Person other than GC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) GC has the right to use the Website Software, all trade secrets, customer lists, database content, graphics, logos, illustrations, and the like used on each of the GC websites, programming processes, software and other information required for its services or its business as presently conducted or contemplated; (ii) GC has taken all reasonable measures to protect and preserve the security and confidentiality of its trade secrets and other confidential information; (iii) all employees and consultants of GC involved in the design, review, evaluation, development, implementation or support of services or products of GC or the creation or development of any Listed Intellectual Property Rights have executed nondisclosure and assignment of inventions agreements to protect the confidentiality of GC's trade secrets and other confidential information and to vest in GC, all trade secrets and other confidential information of GC are not part of the public domain or knowledge, nor, to the knowledge of GC, have they been misappropriated by any Person having an obligation to maintain such trade secrets or other confidential information in confidence for GC; and (v) to the knowledge of GC, no employee or consultant of GC has used any trade secrets or other confidential information of any other Person in the course of their work for the GC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) GC's use, license, sublicense and sale of any User Data (as defined below) collected from users of any website of GC has complied with the GC's published privacy policy in effect at the time such User Data was collected (collectively, the "Privacy Policies") and all applicable laws that relate to or govern the compilation, use and transfer of User Data. For purposes hereof, (1) "User Data" means: (w) all data related to impression and click-through activity of users, including user identification and associated activities at a website and all other data associated with a user's behavior on the Internet, (x) all data that contains a Personal Element, (y) known, assumed or inferred information or attributes about a user or identifier, and (z) all derivatives and aggregations of (w), (x) and (y), including user profiles; (2) "Personal Element" means a natural person's full name (or last name if associated with an address), telephone number, email address, Unique Identifying Number, photograph, or any other information, alone or in combination, that allows the identification of a natural Person; and (3) "Unique Identifying Number" means an identifier uniquely associated with a Person such as a social security number, driver's license number, passport number or customer number, but excluding an identifier which is randomly or otherwise assigned so that it cannot reasonably be used to identify the Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) GC has not utilized any open source software in any software utilized by GC and GC has no obligation to publish any of the object code owned by or utilized by GC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 **Corporate Books and Records**

GC has furnished or made available to Purchaser or its representatives for their examination true and complete copies of its (a) corporate formation documents of GC and its Subsidiaries, including all amendments thereto, (b) the minute books of GC and its Subsidiaries, and (c) the register books of GC and its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 **Licenses, Permits, Authorizations, Etc.**

GC has received all currently required governmental approvals, authorizations, consents, licenses, orders, registrations and permits of all agencies, whether federal, state, local or foreign, the failure to obtain which would, in the aggregate, have a Material Adverse Effect on GC ("Material Regulatory Consents"). GC has not received any written notification of any failure by it to have obtained any Material Regulatory Consents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 **Applicable Laws**

GC to the best of its knowledge has complied, and is in compliance with, all applicable laws, rules, regulations, ordinances, decrees and orders applicable to the operation of its business, to its employees, or to the Personal Property, the failure to comply with which would, in the aggregate, have a Material Adverse Effect on GC, including, without limitation, all such laws, rules, regulations, ordinances, decrees and orders relating to antitrust, consumer protection, currency exchange, environmental protection, equal opportunity, health, occupational safety, pension, securities and trading-with-the-enemy matters. GC has not received any notification of any asserted present or past unremedied failure by GC to comply with any of such laws, rules, regulations, ordinances, decrees or orders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14 **Insurance**

As of the Closing, GC will maintain such policies of insurance, as are appropriate to GC's US and Canadian operations, property, and assets, in such amounts and against such risks as are customarily carried and insured against by owners of comparable businesses, properties and assets. All such policies of insurance are, as of the Closing, in full force and effect. GC is not in default, as to the payment of premiums or otherwise, under the terms of any such policy. No coverage provided in such policies of insurance shall be diminished, lost or otherwise adversely affected as a result of the transactions contemplated in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15 **Insider Interests**

GC represents and warrants, and each Principal GC Stockholder represents and warrants to such Principal Stockholder's knowledge, that except as set forth in Section 3.26 of the GC Disclosure Schedule that neither the Principal Stockholder nor any officer of GC has any interest (other than as a stockholder of GC) (a) in any property, real or personal, tangible or intangible, used in or directly pertaining to the business of GC, including, without limitation, inventions, patents, trademarks or trade names, or (b) in any agreement, contract, arrangement or obligation relating to GC, its present or prospective business or its operations, except for an Employment Agreement, if any, to be entered into between any of the Principal Stockholders with Purchaser at the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16 **Domain Names**

Schedule 3.16 of the GC Disclosure Schedule sets forth all Internet domain names registered to GC and its Subsidiaries, whether or not such domain names are currently in use. GC has no knowledge of any third party regarding ownership of any such domain names or the alleged infringement of any rights of any such parties by GC's ownership of such domain names. There are not threatened or on going disputes over any domain name owned by GC or its Subsidiaries

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17 **Accuracy of Web Site Content**

The information contained on GC's Web sites regarding GC, its employees, business and products is accurate in all material respects, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18 **Full Disclosure**

The information furnished to Purchaser by GC or the Principal GC Stockholders in this Agreement is true, correct and complete in all material respects. No representation or warranty of the GC or the Principal GC Stockholders contained in this Agreement and no statement or disclosure made by or on behalf of GC or the Principal GC Stockholders to the Purchaser pursuant to this Agreement or the Operative Documents contains an untrue statement of a material fact or omits to state a material fact necessary to make the statements contained herein or therein not misleading in light of the circumstances in which they were made.

**ARTICLE IV- REPRESENTATIONS AND** 

**WARRANTIES OF PURCHASER**

As of the date of this Agreement and as of the Closing, subject to the exceptions and qualifications specifically set forth or disclosed in writing in the disclosure schedule delivered by Purchaser (the "Purchaser Disclosure Schedule") and which is arranged according to the numbered and lettered paragraphs of this <u>Article IV</u>, Purchaser represents and warrants to GC and the Principal GC Stockholders as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 **Organization, Good Standing**

Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the States of Delaware, and has all requisite corporate power and authority to own, operate and lease their properties and assets and to carry on their businesses as now conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 **Authority**

Purchaser has full corporate power and authority to execute, deliver and perform this Agreement and the Operative Documents to which either is a Party and to carry out the transactions contemplated hereby and thereby. This Agreement has been, and each Operative Document to which Purchaser is a Party will be, on the Closing Date, duly executed and delivered by Purchaser, and this Agreement is, and each Operative Document to which Purchaser is a Party will be, on the Closing Date, a legal, valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with its terms, subject as to enforceability, to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability affecting the rights of creditors and to general principles of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 **No Approvals or Notices Required; No Conflicts** 

The execution, delivery and performance of this Agreement and the Operative Documents by Purchaser, the issuance of the Purchaser Common Stock to the Stockholders and the consummation of the transactions contemplated hereby and by the Operative Documents will not (a) constitute a violation (with or without the giving of notice or lapse of time, or both) of any provision of law or any judgment, decree, order, regulation or rule of any court or other governmental authority applicable to Purchaser, (b) require any consent, approval or authorization of, or declaration, filing or registration with, any Person, (c) result in a default (with or without the giving of notice or lapse of time, or both) under, acceleration or termination of, or the creation in any Party of the right to accelerate, terminate, modify or cancel, any agreement, lease, note or other restriction, encumbrance, obligation or liability to which Purchaser is a Party or by which either is bound or to which any of their assets are subject, (d) result in the creation of any material lien or encumbrance upon the assets of Purchaser or the Purchaser Common Stock delivered as the Purchase Price, or (e) conflict with or result in a breach of or constitute a default under any provision of the charter documents of Purchaser. No consent, approval, order, authorization or registration qualification, designation, license, license, declarations or filing with any state of federal governmental authority or any other Person is required on the part of Purchaser in connection with the execution and delivery of this Agreement, the issuance of the Purchaser Common Stock as the Purchase Price or the consummation of the transactions contemplated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 **Subsidiaries.** The Purchaser does not own, directly or indirectly, any equity or other ownership interest in any corporation, partnership, joint venture or other entity or enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 **Organizational Documents and Authorized Capital**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Purchaser has delivered or made available to GC a true and correct copy of the Certificate of Incorporation and Bylaws of the Purchaser and any other organizational documents of the Purchaser, each as amended, and each such instrument is in full force and effect (the "Purchaser Organizational Documents"). The authorized capital stock of Purchaser consists (a) 100,000,000 shares of Class A common stock, $0.0001 par value which has all been liquidated and cancelled; (b) shares of Class B common stock, 2,156,250 of which is currently outstanding; and (c) 1,000,000 shares of preferred stock, $0.0001par value ("Purchaser Preferred Stock").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of the date hereof, there are no shares of Purchaser Preferred Stock issued and outstanding and at the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except in connection with any related financing, as defined below, there are no additional outstanding subscriptions, options, including by way of employee or similar options, calls, contracts, commitments, understandings, restrictions, arrangements, rights or warrants, including any right of conversion or exchange under any outstanding security, instrument or other agreement and also including any rights plan or other anti-takeover agreement, obligating Purchaser to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of Purchaser Preferred Stock or Purchaser Common stock or obligating Purchaser to grant, extend or enter into any agreement or commitment except for as otherwise herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) All outstanding shares of the capital stock of the Purchaser are, and all such shares that may be issued prior to the Closing Date will be when issued, duly authorized, validly issued, fully paid and nonassessable and not subject to or issued in violation of any purchase option, call option, right of first refusal, preemptive right, subscription right or any similar right under any prevision of the laws of the jurisdiction of the Purchaser's organization, the Purchaser Organizational Documents or any Contract to which the Purchaser is a Party or otherwise bound.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6. **Taxes**

Purchaser has (a) duly and timely filed, with the US Internal Revenue Service and other appropriate federal and state governmental agencies all tax returns, information returns and reports for all Taxes required to have been filed with respect to Purchaser and (b) paid in full or provided for all Taxes, interest and other governmental charges which are shown to be due on such returns or reports. "Taxes" shall mean all taxes, charges, fees, levies or other assessments, including, but not limited to, income, excise, gross receipts, property, sales, use, ad valorem, transfer, franchise, profit, license, withholding, payroll, employment, severance, stamp, occupation, windfall profit, social security and unemployment or other taxes imposed by the United States or any agency or instrumentality thereof, any state, county, local or foreign government, or any agency or instrumentality thereof, and any interest or fines, and any and all penalties or additions relating to such taxes, charges, fees, levies or other assessments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 **Contracts**

As of the Closing, except for this Agreement and, the Purchaser will not be a Party to any Contracts, except as set forth on Schedule 4.8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 **Litigation; Claims and Legal Proceedings**

Purchaser is not a Party to or the subject of any pending litigation, claims, decrees, orders, stipulations or governmental investigation, and there is no basis for any material claim, action, suit, arbitration, proceeding or investigation by any Person against the Purchaser There are no outstanding or unsatisfied judgments, orders, decrees or stipulations to which Purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15 **Applicable Laws**

Purchaser to the best of its knowledge has complied, and is in compliance with, all applicable laws, rules, regulations, ordinances, decrees and orders applicable to the operation of its business. Purchaser has not received any notification of any asserted present or past unremedied failure by Purchaser to comply with any of such laws, rules, regulations, ordinances, decrees or orders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.16 **Insurance**

Purchaser does not maintain any insurance policies with respect to any of its assets or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.17 **SEC Filings**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Purchaser has filed all reports, schedules, forms, statements and other documents required to be filed by it with the SEC, pursuant to the Exchange Act (the "SEC Reports").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of their respective dates, the SEC Reports and any registration statements filed by the Purchaser under the Securities Act (the "Registration Statements") complied in all material respects with the requirements of the Exchange Act and the Securities Act, as applicable, and the rules and regulations of the SEC promulgated thereunder, and none of the SEC Reports or Registration Statements, when filed, contained any untrue statement of a material fact or emitted 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, net misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18 **Liabilities.** As of the Closing, the Purchaser will have not Liabilities or contractual obligations.

**ARTICLE V - CONDITIONS PRECEDENT TO OBLIGATIONS**

**OF PURCHASER**

The obligations of Purchaser to consummate the Transaction hereunder shall be subject to the satisfaction of the following conditions on or prior to the Closing Date, which condition may be expressly waived in writing by Purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 **Accuracy of Representations and Warranties**

The representations and warranties of GC and the Principal GC Stockholders contained herein (including applicable Exhibits or Schedules) and in the Operative Documents shall have been true in all material respects when made and shall be true in all material respects as of the Closing Date as though made on that date, except as affected by transactions contemplated hereby and except to the extent that such representations and warranties are made as of a specified date, in which case such representations and warranties shall be true as of the specified date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 **Performance of Agreement**

GC and the Principal GC Stockholders shall have performed all obligations and agreements and complied in all material respects with all covenants and conditions contained in this Agreement or any Operative Document to be performed and complied with by them at or prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 **Stockholders Approval**

The GC stockholders shall have executed a valid consent approving this Agreement and the transactions contemplated hereby in accordance with the applicable provisions of Canadian Law concerning stockholder consents in lieu of stockholder meetings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 **Consents to Transaction**

GC shall have received written consents from each of the parties (other than GC) to those agreements, leases, notes or other documents requiring such consents, which consents shall in all respects be satisfactory to Purchaser in its sole and absolute discretion

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 **Officers' Certificate**

GC shall have delivered to Purchaser a certificate of its President, dated the Closing Date, stating that the representations and warranties of GC contained in this Agreement shall be true and correct in all material respects on and as of the Closing Date as though such representations and warranties were made anew on and as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.6 **Stockholders' Certificates**

Each Principal GC Stockholder shall have delivered Purchaser a certificate, dated the Closing Date, stating that the representations and warranties of such Principal GC Stockholder contained in this Agreement are true and correct in all material respects on and as of the Closing Date as though such representations and warranties were made anew on and as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.7 **Material Change**

From January 1, 2023 through the Closing Date, GC shall not have suffered any Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.8 **Stockholder Releases/Investment Letter**

Each Principal GC Stockholder shall have delivered to Purchaser (x) an instrument dated the Closing Date releasing GC from any and all (i) claims prior to the Closing Date of such Principal GC Stockholder against GC from and (ii) obligations prior to the Closing Date of GC to such Principal GC Stockholder, except for obligations arising under this Agreement or the transactions contemplated hereby and (y) an Investment Letter containing Seller's representations related to the availability of an exemption under Regulation S promulgate under the Securities Act of 1933, as amended and receipt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.9 **Termination of Stockholder Agreements**

All stockholder agreements and other agreements related to the GC Shares have been terminated.

**ARTICLE VI - CONDITIONS PRECEDENT TO OBLIGATIONS**

**OF GC AND THE PRINCIPAL GC STOCKHOLDERS**

The obligations of GC and the Principal GC Stockholders to consummate the Transaction hereunder shall be subject to the satisfaction of the following conditions on or prior to the Closing Date, which conditions may be expressly waived in writing by on behalf of GC, by the President of GC and by the Principal GC Stockholders who collectively hold at least 75% of the Principal Stockholders stock held by the Principal GC Stockholders

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 **Accuracy of Representations and Warranties**

The representations and warranties of Purchaser contained herein and in the Operative Documents shall have been true in all material respects when made and shall be true in all material respects as of the Closing Date as though made on that date, except as affected by transactions contemplated hereby and except and to the extent that such representations and warranties are made as of a specified date, in which case such representations and warranties shall be true in all material respects as of the specified date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 **Performance of Agreement**

Purchaser shall have performed all obligations and agreements and complied with in all material respects all covenants and conditions contained in this Agreement or any Operative Document to be performed and complied with by them at or prior to the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 **Officers' Certificate**

Purchaser shall have delivered to GC a certificate, dated the Closing Date, stating that the representations and warranties of Purchaser contained in this Agreement shall be true and correct on and as of the Closing Date as though such representations and warranties were made anew on and as of the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 **Resignations**

GC shall have received resignations effective as of the Closing of all of the directors and officers of Purchaser.

**ARTICLE VII - CONDITIONS PRECEDENT TO**

**OBLIGATIONS OF ALL PARTIES**

The obligations of all parties to perform and observe the covenants, agreements and conditions hereof to be performed and observed by them at or prior to the Closing Date shall be subject to the satisfaction of the following conditions on or prior to the Closing Date, which conditions may be expressly waived in writing by Purchaser, GC and the Principal GC Stockholders who collectively hold at least 75% of the Principal GC Stockholders stock held by the Principal GC Stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 **Legal Proceedings**

No order of any court or administrative agency shall be in effect which enjoins, restrains, conditions or prohibits consummation of this Agreement or any Operative Document, and no litigation, investigation or administrative proceeding shall be pending or threatened which would enjoin, restrain, condition or prevent consummation of this Agreement or any Operative Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 **Approvals and Consents**

Except as set forth in Schedule 7.2, all transfers of permits or licenses, all approvals, applications or notices to public agencies, federal, state, local or foreign, the granting or delivery of which is necessary for the consummation of the transactions contemplated hereby or for the continued operation of GC, shall have been obtained, and all waiting periods specified by law shall have passed. All other consents, approvals and notices referred to in this Agreement shall have been obtained or delivered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 **Completion of GC Disclosure Schedule.**

The GC Disclosure Schedule shall have been completed to the mutual satisfaction of the parties.

**ARTICLE VIII – COVENANTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 **Conduct of Business by Purchaser**

At all times during the period commencing with the execution and delivery of this Agreement and continuing until the earlier of the termination of this Agreement pursuant to the terms hereof or the Closing, Purchaser shall not take any actions which are inconsistent with the representations made by Purchaser in Article 4 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 **Access and Information**

Subject to each Party's compliance with <u>Section 8.9</u> hereof, GC and Purchaser shall afford each other and their respective accountants, counsel and other representatives full access during normal business hours throughout the period prior to the Closing to all of their respective properties, books, contracts, commitments and records (including, but not limited to, tax returns), and, during such period, each shall furnish promptly to the other all information concerning the other's business, properties and personnel as each may reasonably request; provided, however, that no investigation pursuant to this Section 8.2 shall affect any representations or warranties made herein or the conditions to the obligations of Purchaser of GC and the GC Stockholders to consummate this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 **Advice of Claims**

From the date of this Agreement to and including the Closing Date, each Party hereto shall promptly advise all other parties hereto in writing of the commencement or threat of any claims, litigation or proceedings against or affecting any Party hereto, of which such Party has knowledge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 **Cooperation**

Each Party hereto will make commercially reasonable efforts to cooperate with the other parties, their counsel and accountants in connection with any steps required to be taken as part of its obligations under this Agreement. Each Party will use its best efforts to cause all conditions to this Agreement to be satisfied as promptly as possible and to obtain all consents and approvals necessary for the due and punctual performance of this Agreement and for the satisfaction of the conditions hereof. No Party will undertake any course of action inconsistent with this Agreement or which would make any representations, warranties or agreements made by such Party in this Agreement or any of the Operative Documents untrue or any conditions precedent to this Agreement unable to be satisfied at or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 **Information in Disclosure Documents**

Each Party covenants that, other than with respect to information furnished by the other Parties for use therein, none of the information to be included in the materials to be furnished to the Principal GC Stockholders by or on behalf of the Purchaser's Board of Directors or management of the parties to this agreement in connection with the approval of this Agreement by the Stockholders, or other parties hereto will contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances under which such statements were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.9 **Confidentiality**

In connection with the transactions contemplated herein, Purchaser and GC are furnishing each other and the Principal GC Stockholders with certain information, which is either nonpublic, confidential or proprietary in nature. All such information furnished by one Party to the other or its representatives is hereinafter referred to as the "Confidential Information". As used in this Agreement, the "representatives" of any Party shall mean such Party's officers, employees, agents or other representatives, including, without limitation, attorneys, accountants, consultants and financial advisors. In consideration of each Party's being furnished with the Confidential Information of the other, each Party agrees 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;(a) The Confidential Information will be kept confidential and except as required by law will not, without the prior written consent of the Party supplying the information, be disclosed by the receiving Party or its representatives in any manner whatsoever, in whole or in part, and will not be used by the receiving Party or its representatives directly or indirectly for any purpose other than evaluating and facilitating the transactions contemplated herein; provided, however, that upon the execution of this Agreement by Purchaser, the Principal GC Stockholders and GC, Purchaser and its representatives will be free to use the Confidential Information to the extent required by law in any subsequent filings with federal or state authorities relating to the transactions contemplated herein. Each Party agrees to transmit the Confidential Information only to those of its representatives who need to know the Confidential Information for the purpose of advising it regarding any of the purposes for which it is permitted to use the Confidential Information under the terms of this Agreement, who are informed by the Party supplying such information of the confidential nature of the Confidential Information and who are directed by such Party to comply with the terms of this Agreement. Each Party will be responsible for any material breach of this Agreement by its 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;(b) Without the prior written consent of the other parties to this Agreement, no Party or any of its representatives will disclose to any other person the fact that the Confidential Information has been made available, or any of the terms, conditions or other facts with respect to the transactions contemplated herein, including the status thereof, except as required by law or permitted under the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event the parties do not proceed with the transactions contemplated herein, the Confidential Information and all copies thereof will be destroyed or returned promptly without retaining any copies thereof. Analyses, notes, studies or other documents prepared by any Party or its representatives for the purpose of assisting it in connection with the transactions contemplated herein will be held by the receiving Party and kept confidential and subject to the terms of this Agreement or, at the election of the other Party, destroyed.

&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) This Section 8.9 shall be inoperative as to such portions of the Confidential Information which (i) are or become generally available to the public other than as a result of a disclosure by the receiving Party or its representatives which is not required by law; (ii) become available to the receiving Party from a source with no obligation of confidentiality to the other Party; (iii) describe technology independently developed by the receiving Party; or (iv) were known to the receiving Party on a non-confidential basis prior to its disclosure to the receiving Party by the supplying Party or one of its 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;(e) In the event that a receiving Party or any of its representatives is requested or becomes legally compelled (by written or oral interrogatories, subpoena, civil or criminal investigative demand or similar process) to disclose any of the Confidential Information for purposes not permitted by this Agreement, the receiving Party will provide the supplying Party with prompt written notice so that the supplying Party may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement. In the event that such protective order or other remedy is not obtained, or that the supplying Party waives compliance with the provisions of this Agreement, the receiving Party will furnish only that portion of the Confidential Information which is legally required, and will exercise good faith efforts to obtain reliable assurance that confidential treatment will be accorded the Confidential 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;(f) Each Party agrees that the other parties shall be entitled to equitable relief, including injunction and specific performance, in the event of any breach of the provisions of clause (a), (b), (c) or (e) of this Section 8.9. Such remedies shall not be deemed to be the exclusive remedies for a breach of this Section 8.9 by any Party or its representatives but shall be in addition to all other remedies available at law or equity.

&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) It is further understood and agreed that no failure or delay by any Party in exercising any right, power or privilege under this Section 8.7 shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise of such any right, power or privilege hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10 **Certain Provisions Related to Consents**

GC shall use commercially reasonable efforts prior to and after the Closing to obtain all consents that are required in connection with the transactions contemplated by this Agreement and the other Operative Documents. GC shall cooperate as reasonably necessary or desirable to secure the third party consents, including, without limitation, providing to such third party information, including financial information; provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.11 **Further Acts**

After the Closing Date, each Party hereto, at the request of and without any further cost or expense to the other parties, will take any further actions necessary or desirable to carry out the purposes of this Agreement or any Operative Document, to maintain for Purchaser full title to all properties, assets and rights of GC and to effect the transfer of the GC Majority Shares to Purchaser and to effect the issuance of the Consideration Shares to the Principal GC Stockholders and to consummate any other transaction contemplated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.12 **SEC Compliance.**

Following the Closing Date, at all times the GC Principal Stockholders shall cause Purchaser to continue to comply with all of the provisions applicable to it of the Exchange Act, unless and until Purchaser has sold all or substantially all of its assets in a transaction requiring the approval of its stockholders or merged with and into another issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13 **Sarbanes-Oxley Act of 2002**.

Purchaser shall prior to and following the Closing shall comply with all of the provisions of the Sarbanes-Oxley Act of 2002.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.14 **Investor Relations**.

Purchaser shall appoint a public relations firm and an investor relations firm for a period of three (3) years following the Closing.

**ARTICLE IX – DELIVERIES AT CLOSING**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 **Documents at Closing**.

At the Closing, the following documents shall be delivered:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) GC shall deliver, or shall cause to be delivered, to Purchaser the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a certificate executed by the President and Secretary of GC to the effect that all representations and warranties made by GC under this Agreement are true and correct as of the Closing, the same as though originally given to Purchaser on said date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) such other instruments, documents and certificates, if any, as are required to be delivered pursuant to 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;(iii) certified copies of resolutions adopted by the directors of GC authorizing this 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;(iv) GC audited financials for the years ended March 31, 2021 and 2022;

&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) all GC Shares owned by the Principal GC Stockholders together with such assignments, stock powers, agreements, tax stamps and other documents required to transfer the ownership of such shares to the Purchaser; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) all other items, the delivery of which is a condition precedent to the obligations of Purchaser as set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Purchaser will deliver or cause to be delivered to GC:

&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) stock certificates representing the shares of Consideration 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;(ii) a certificate of the Chief Financial Officer of Purchaser, to the effect that all representations and warranties of Purchaser made under this Agreement are true and correct as of the Closing, the same as though originally given to GC on said 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;(iii) certified copies of resolutions adopted by Purchaser's board of directors authorizing the transaction contemplated hereunder and all related matters described 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;(iv) certificate from the jurisdiction of incorporation of Purchaser dated at or about the Closing Date that Purchaser is in good standing under the laws of said state;

&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) such other instruments and documents as are required to be delivered pursuant to the provisions of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) resignations of the officers and directors of Purchaser, except that Paul Haber shall remain as a director of the Company..

**ARTICLE X - TERMINATION**

This Agreement may be terminated at any time prior to the Closing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by the mutual consent of Purchaser and GC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by either Purchaser or GC if the other parties shall have substantially and materially breached their agreements hereunder; provided, however, that GC may not terminate this Agreement for a breach by any GC stockholder. Furthermore, this Agreement shall not be terminated (nor shall any other action be taken) for any breach hereunder, unless the Party seeking termination shall have provided to all other parties written notice describing the breach with sufficient specificity to permit cure thereof and the other parties shall have a reasonable opportunity (of not less than 30 days) to cure such breach. In the event of such cure, the cured breach shall be deemed a nullity and no action of any nature arising out of such nullified breach, against the breaching Party shall be permitted; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by either Purchaser or GC if the Closing has not occurred by February 25, 2023; provided that the Party electing to terminate has used its best efforts to consummate the Closing prior to February 21, 2023.

In the event of any termination pursuant to this Article IX (other than pursuant to clause (a) above), written notice setting forth the reasons therefor shall forthwith be given by the terminating Party to the other parties hereto. Such termination shall not prejudice any Party's right to seek remedies for another Party's breach of this Agreement. All provisions of this Agreement regarding confidentiality and non-disclosure shall survive the termination of this Agreement.

**ARTICLE IX - GENERAL**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 **Expenses**

Each Party shall be responsible for and bear all of their own costs and expenses (including any broker's or finder's fees) incurred at any time in connection with pursuing or consummating the Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 **Amendment**

Purchaser, GC and Principal GC Stockholders who collectively hold at least 75% of the Principal Stockholders stock held by the Principal GC Stockholders may amend, modify or supplement this Agreement at any time, but only in writing duly executed on behalf of each of the Parties to be bound thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 **Indemnification and Survival of Warranties**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3.1 (a) GC and the Principal GC Stockholders agree to indemnify, Purchaser, its successors and assigns, and current and former officers, directors, affiliates, employees, controlling Persons and agents of the foregoing, and to hold each of them harmless against and in respect of any and all losses, damages, Taxes, penalties or other additions to Taxes, costs and expenses, including attorneys' and accountants' fees incurred by any of them by reason of (i) a breach of any of the representations or warranties made by GC or the Principal GC Stockholders in this Agreement or the Operative Documents or (ii) the nonperformance (whether partial or total) of any covenants or agreements made by GC or the Principal Stockholders in this Agreement or the Operative Documents.

&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) Purchaser agrees to indemnify and to hold harmless the GC or the Principal GC Stockholders and his successors, assigns heirs, and legatees against and in respect of all losses, damages, Taxes, penalties or other additions to Taxes, costs and expenses, including attorneys' and accountants' fees incurred by any of them by reason of (i) a breach of any of the representations or warranties made by Purchaser in this Agreement or the Operative Documents or (ii) the nonperformance (whether partial or total) of any covenants or agreements made by Purchaser in this Agreement or the Operative Documents. The representations and warranties of Purchaser contained in this Agreement shall not survive the 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;11.3.2 If any Person entitled to indemnification pursuant to Section 10.3.1 hereof (an "Indemnitee") is threatened in writing with any claim, or any claim is presented in writing to, or any action or proceeding is formally commenced against, any of the Indemnitees which may give rise to the right of indemnification hereunder, the Indemnitee will promptly give written notice thereof to each indemnifying Party; provided, however, that any delay by an Indemnitee in so notifying the indemnifying Party shall not relieve the indemnifying Party of any liability to any of the Indemnitees hereunder except to the extent that the indemnifying Party shall have been actually prejudiced as a result of such failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3.3 The indemnifying Party or parties, by delivery of written notice to an Indemnitee within 30 days of notice of claim to indemnity from an Indemnitee, may elect to assume the defense of such claim, action or proceeding at the expense of the indemnifying Party; provided, however, that (a) unless such written notice shall be accompanied by a written agreement of each indemnifying Party acknowledging the liability of the indemnifying parties to the Indemnitees as a result of this Agreement for any indemnified damage which any Indemnitee might incur or suffer as a result of such claim, action or proceeding or the contesting thereof, each indemnifying Party shall be jointly and severally liable for the attorneys' fees and expenses of the Indemnitee, if any, incurred in connection with defending such claim; (b) counsel undertaking such defense shall be reasonably acceptable to the Indemnitee; (c) the indemnifying parties shall mutually elect to contest such claim, action or proceeding and shall conduct and settle such contest in a joint manner, and if the indemnifying parties shall fail at any time to agree, the Indemnitee shall have no obligation to contest such claim, action or proceeding and (d) if the Indemnitee requests in writing that such claim, action or proceeding not to be contested, then it shall not be contested but shall not be covered by the indemnities provided herein. The indemnifying parties may settle an indemnifiable matter after delivering a written description of the proposed settlement to and receiving consent from the Indemnitee. In the event the Indemnitee unreasonably declines to consent to such settlement, then the Indemnitee shall have no right to indemnification beyond the amount of the proposed settlement. In the event the indemnifying parties jointly elect to contest an indemnifiable matter, Purchaser and the GC or the Principal GC Stockholders shall permit each other reasonable access, subject to the provisions of Section 7.9 hereof, to their respective books and records and shall otherwise cooperate in connection with such claim. If the indemnifying parties do not jointly elect to contest an indemnifiable matter, they shall cooperate with the Indemnitee to the extent any of them has knowledge of facts or circumstances relating to such matter, and the Indemnitee shall have the exclusive right to prosecute, defend, compromise, settle or pay any claim, but the Indemnitee shall not be obligated to do so; provided, however, that, should the Indemnitee elect not to exercise its right exclusively to prosecute, defend, compromise, settle or pay such claim, any indemnifying Party may elect to do so at its sole expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3.4 The representations and warranties of GC and the Principal GC Stockholders and Purchaser contained in this Agreement shall survive the Closing for a period of one (1) year from the Closing Date, after which they will expire along with any rights to indemnification under this Section 11.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3.5 Indemnity obligations hereunder of GC and the Principal GC Stockholders shall be limited in that the same shall be satisfied solely by offsetting any amounts due from the Principal GC Stockholders against shares of Purchaser Common Stock which are issuable to the Principal GC Stockholders pursuant to Section 1.3 above, such shares to be valued at the time that any such payment is to be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 **Counterparts**

This Agreement may be executed simultaneously in any number of 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;11.5 **Headings**

The headings preceding the text of Articles and Sections of this Agreement are for convenience only and shall not be deemed parts thereof

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6 **Applicable Law**

This Agreement, including all matters of construction, validity and performance, shall be governed by and construed and enforced in accordance with the laws of the state of New York, as applied to contracts executed and to be fully performed in such state by citizens of such state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7 **Parties in Interest; Assignment**

All the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and permitted assigns of the parties hereto, whether herein so expressed or not, but neither this Agreement nor any of the rights, interests or obligations hereunder of any Party hereto shall be assigned without the prior written consent of the other parties; provided that (a) any Principal GC Stockholders shall be permitted to assign its consideration payable hereunder to any third Party and (b) any Principal GC Stockholders which is a corporation may assign its rights and obligations under this Agreement to the principal stockholder of such corporation, or to the principal stockholder of the parent corporation of such stockholder. This Agreement is not intended, nor shall it be construed, to confer any enforceable rights on any Person not a Party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8 **Notices**

Any notice or demand desired or required to be given hereunder shall be in writing given by personal delivery or certified or registered mail, reputable overnight courier service, telegram or confirmed facsimile transmission, addressed as respectively set forth below or to such other address as any Party shall have previously designated by such a notice, The effective date of any notice or request shall be three days from the date it is mailed by the addressor, upon delivery of the courier package if it is sent by courier, upon delivery to a telegraph company properly addressed with charges prepaid, upon confirmation of a successful facsimile transmission, or in any event upon personal delivery.

Notices to Purchaser, GC and the Principal GC Stockholders shall be sent as follows:

To: GC and the Principal GC Stockholders

with copies to:

Cyruli Shanks & Zizmor, LLP

420 Lexington Avenue

Suite 2320

New York, NY 10170

Attn: Paul Goodman, Esq.

To Purchaser:

Parsec Capital Acquisitions Corp.

320 W Main Street

Lewisville, TX 75057

with copies to:

Sichenzia Ross Ferrence LLP

1185 Avenue of Americas, 31<sup>st</sup> Floor

New York, NY 10036

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9 **Public Announcements and Filing of Form 8-K**

Except as required by law, Purchaser shall not make any public announcements regarding the transaction contemplated herein without the consent of GC, which consent shall not be unreasonably withheld. Any press release or other public disclosure, and any Form 8-K report prepared for filing by Purchaser, shall be reviewed and commented on by GC prior to its publication, such review and comment by GC to be completed within one (1) business day. In the event that comments by GC are not received by Purchaser within one (1) business day GC shall have be deemed to have approved such Form 8-K report.

IN WITNESS WHEREOF, the parties hereto have entered into and signed this Agreement as of the date and year first above written.

(\*\* Signature Pages to Follow \*\*)

**(\*\* SIGNATURE PAGE \*\*)**

---

| | |
|:---|:---|
| **Parsec Capital Acquisition Corp.** | **Parsec Capital Acquisition Corp.** |
|  | */s/ Paul Haber* |
| By: | Paul Haber |
| Title: | CFO and Director |
| **Enteractive Media, Inc.** | **Enteractive Media, Inc.** |
|  | */s/ Kelly Kellner* |
| By: | Kelly Kellner |
| Title | President and CEO |

---

(\*\*Enteractive Media Stockholder Signature Page \*\*)

---

| | |
|:---|:---|
|  | **Stockholder** |
| Number of Shares of Common Stock Owned: 9,000,000 | Penfold Capital Markets, LP |
|  | /s/ Jessica Miller |
| Number of Shares of Common Stock Owned: 5,678,500 | Serious Moonlight Capital, LP |
|  | /s/ Raphael Verdugo |
| Number of Shares of Common Stock Owned: 8,376,000 | Hunter Beachwood Investments |
|  | /s/ Paul R. Nash |
| Number of Shares of Common Stock Owned: 4,000,000 | Terry Debono |
|  | /s/ Terry Debono |
| Number of Shares of Common Stock Owned: 6,975,000 | 1992689 Alberta, Inc. |
|  | /s/ Lynne Kellner |

---

## Exhibit 99.1

**Exhibit 99.1**

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