# EDGAR Filing Document

**Accession Number:** 0001902337
**File Stem:** 0001062993-26-001770
**Filing Date:** 2026-4
**Character Count:** 768228
**Document Hash:** 831f46a0d11c82467e6d7bf15d076065
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-26-001770.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001062993-26-001770

**CONFORMED SUBMISSION TYPE**: 1-A

**PUBLIC DOCUMENT COUNT**: 36

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Naqi Logix Inc.
- **CENTRAL INDEX KEY:** 0001902337
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 1-A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12733
- **FILM NUMBER:** 26824199

**BUSINESS ADDRESS:**
- **STREET 1:** 1400-1040 WEST GEORGIA STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6E 4H1
- **BUSINESS PHONE:** 604-803-4940

**MAIL ADDRESS:**
- **STREET 1:** 1400-1040 WEST GEORGIA STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6E 4H1

## Part

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**An Offering Statement pursuant to Regulation A relating to these securities has been filed with the Securities and Exchange Commission. Information contained in this Preliminary Offering Circular is subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted before the Offering Statement filed with the SEC is qualified. This Preliminary Offering Circular shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful before registration or qualification under the laws of any such state. We may elect to satisfy our obligation to deliver a Final Offering Circular by sending you a notice within two business days after the completion of our sale to you that contains the URL where the Final Offering Circular or the Offering Statement in which such Final Offering Circular was filed may be obtained.**

**SECURITIES AND EXCHANGE COMMISSION**

**FORM 1-A**

**REGULATION A OFFERING CIRCULAR UNDER THE SECURITIES ACT OF 1933**

**PRELIMINARY OFFERING CIRCULAR, SUBJECT TO COMPLETION** 

**DATED MARCH 31, 2026**

![](form1ax001.jpg)

**NAQI LOGIX INC.**

**UP TO 5,747,126 VOTING COMMON SHARES, PLUS UP TO 1,149,425 BONUS SHARES <sup>(1)</sup>**

**The minimum investment in this offering is 200 Voting Common Shares in the capital of the<br>Company (the "Common Shares"), or $522.00 plus the 3.5% investor processing fee<br>discussed below.**

**MAXIMUM OFFERING AMOUNT: $18,525,000**

**SEE "SECURITIES BEING OFFERED" ON PAGE 46**

100 Park Royal, Suite200<br>West Vancouver, BC, V7T 1A2<br>Canada<br>1-888- 627-4564<br><u>www.naqilogix.com</u>

Copy to:

Mark Godsey

100 Park Royal, Suite200

West Vancouver, BC, V7T 1A2

Canada<br>1-888- 627-4564

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| | | | |
|:---|:---|:---|:---|
|  | **Price to Public** | **Underwriting discount and**<br>**commissions<sup>(2)</sup>** | **Proceeds to Company**<br>**before expenses <sup>(</sup>**<sup>**3,5**</sup><sup>**)**</sup> |
| **Price Per Share** | $2.61 | $0.118 | $2.493 |
| **Transaction fee per share <sup>(</sup>**<sup>**5**</sup><sup>**)**</sup> | $0.09 | $0.004 | $0.086 |
| **Price per share plus Transaction fee** | $2.70 | $0.122 | $2.579 |
| **Total Maximum with processing fee<sup>(</sup>**<sup>**,5**</sup><sup>**)**</sup> | $15525000 | $1177500 | $14347500 |
| **Total Maximum with processing fee and Bonus Shares<sup>(145)</sup>** | $18525000 | $1177500 | $14347500 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Naqi Logix Inc. (the "Company") is offering up to 5,747,126 Voting Common Shares ("Common Shares"), plus up to 1,149,425 additional Common Shares to be issued as bonus shares (the "Bonus Shares") to investors based upon their eligibility in meeting certain bonus requirements as detailed in "Perks and Bonus Shares" below. An investor receiving the Bonus Shares will effectively receive a discount on our share price. Investors are eligible to receive up to 20% additional Common Shares as Bonus Shares. *See* "Plan of Distribution" for further details.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The Company has DealMaker Securities, LLC, member FINRA/SIPC ("DealMaker Securities" or "Broker"), as a broker-dealer of record, to perform broker-dealer administrative and compliance related functions in connection with this Offering. DealMaker Securities and its affiliates will receive: (i) a one-time advance of $45,000, and (ii) a monthly payment of $13,000 for up to $39,000 for accountable expenses. Once the Commission has qualified the Offering Statement to include DealMaker Securities, it will receive a cash commission equal to four and one half percent (4.5%) of the amount raised in the Offering based on its sales. There are also monthly account management fees of $13,000 not to exceed $117,000, and a budgeted fee of $277,875 for media management and supplementary services on a case-by-case basis, but not to exceed the total. See "Plan of Distribution" for more details. In the case of a fully subscribed offering in which all investments are made through DealMaker Securities, the maximum amount the Company would pay DealMaker Securities is $1,177,500 in commissions, expenses, and fees. DealMaker Securities will not have any compensation tied to the sale or issuance of Bonus Shares. To the extent that the Company's officers and directors make any communications in connection with the Offering they intend to conduct such efforts in accordance with an exemption from registration contained in Rule 3a4-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, therefore, none of them is required to register as a broker-dealer.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Does not include effective discount that would result from the issuance of Bonus Shares. See "Plan of Distribution" for further details.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Investors will be required to pay the Company a processing fee equal to 3.5% of the investment amount at the time of the investor's subscription (excluding Bonus Shares) for shares sold by DealMaker Securities ("Transaction Fee"). See "Plan of Distribution" for additional discussion of this processing fee. Assuming the offering is fully subscribed (excluding Bonus Shares), investors would pay DealMaker Securities total processing fees of $525,000. DealMaker Securities will receive commissions on the Investor Fee. This amount is included in the Total Maximum offering amount since it counts towards the rolling 12-month maximum Offering amount that the Company is permitted to raise under Regulation A. The "Proceeds to Company before expenses" includes payment of the cash commission as well as the processing fee.

&nbsp;&nbsp;&nbsp;&nbsp;(5) We may issue up to 1,149,425 Common Shares as Bonus Shares as part of the Offering, assuming that 100% of investors achieve the highest level of Bonus Shares available and all Bonus Shares are issued. For more information on Bonus Shares, see the "Plan of Distribution" below. Assuming this Offering is fully subscribed, and the maximum number of Bonus Shares are issued, the effective purchase price per share would be $2.175 per share.

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The Company expects that the amount of expenses of the Offering that it will pay will be approximately $750,000 not including certain fees due to DealMaker Securities.

**The Offering will terminate at the earlier of: (i) the date at which the maximum offering amount has been sold (ii) the date at which the offering is earlier terminated by the Company in its sole discretion or (iii) the date that is three years from the date on which this offering is qualified by the United States Securities and Exchange Commission (the "Commission"). At least every 12 months after this offering has been qualified by the Commission, the Company will file a post-qualification amendment to include the Company's recent financial statements. The Offering covers an amount of securities that we reasonably expect to offer and sell within two years, although the offering statement of which this offering circular forms a part may be used for up to three years.**

**The minimum investment amount for an investor is $522 plus a 3.5% transaction fee, however, we reserve the right to waive this minimum investment amount in the sole discretion of our management.** 

**The Company will utilize a third-party escrow account for this offering, and all funds tendered by investors will be held in an escrow account until investor subscriptions are accepted by the Company and reviewed by DealMaker Securities.. The Offering is being conducted on a best-efforts basis without any minimum target and there is no minimum number of shares that needs to be sold in order for funds to be released to the Company and for this Offering to close, which may mean that the Company does not receive sufficient funds to cover the cost of this Offering. We will hold closings upon the receipt of investors' subscriptions, review by DealMaker Securities, and acceptance of such subscriptions by the Company. We reserve the right, subject to applicable securities laws, to begin applying "dollar one" of the proceeds from the Offering towards our business strategy, including, without limitation, research and development expenses, offering expenses, working capital and general corporate purposes, and other uses, as more specifically set forth in the "Use of Proceeds to Company" section of this Offering Circular. If, on the initial closing date, we have sold less than the Maximum Offering, then we may hold one or more additional closings for additional sales, until the earlier of: (i) the sale of the Maximum Offering, or (ii) the Termination Date. We expect to commence the sale of the Common Shares on the date on which the Offering Statement of which this Offering Circular (the "Offering Circular") is a part (the "Offering Statement") is qualified by the SEC.** 

**THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION DOES NOT PASS UPON THE MERITS OF OR GIVE ITS APPROVAL TO ANY SECURITIES OFFERED, INCLUDING THE COMMON SHARES, OR THE TERMS OF THIS OFFERING, NOR DOES IT PASS UPON THE ACCURACY OR COMPLETENESS OF ANY OFFERING CIRCULAR OR OTHER SOLICITATION MATERIALS. THE COMMON SHARES ARE OFFERED PURSUANT TO AN EXEMPTION FROM REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION ("SEC"); HOWEVER, THE SEC HAS NOT MADE AN INDEPENDENT DETERMINATION THAT THE COMMON SHARES OFFERED ARE EXEMPT FROM REGISTRATION.**

<u>**NON-ACCREDITED INVESTOR LIMITATIONS**</u>

**GENERALLY, NO SALE MAY BE MADE TO YOU IN THIS OFFERING IF THE AGGREGATE PURCHASE PRICE YOU PAY IS MORE THAN TEN PERCENT (10%) OF THE GREATER OF YOUR ANNUAL INCOME OR YOUR NET WORTH. DIFFERENT RULES APPLY TO ACCREDITED INVESTORS AND NON-NATURAL PERSONS. BEFORE MAKING ANY REPRESENTATION THAT YOUR INVESTMENT DOES NOT EXCEED APPLICABLE THRESHOLDS, WE ENCOURAGE YOU TO REVIEW RULE 251(d)(2)(i)(C) OF REGULATION A PROMULGATED UNDER THE SECURITIES ACT. FOR GENERAL INFORMATION ON INVESTING, WE ENCOURAGE YOU TO REFER TO** <u>**WWW.INVESTOR.GOV**</u>**.**

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<u>**NOTICE TO FOREIGN INVESTORS**</u>

**IF THE INVESTOR LIVES OUTSIDE OF THE UNITED STATES, IT IS THE INVESTOR'S RESPONSIBILITY TO FULLY OBSERVE THE LAWS OF ANY RELEVANT TERRITORY OR JURISDICTION OUTSIDE THE UNITED STATES IN CONNECTION WITH ANY PURCHASE OF THE SECURITIES, INCLUDING OBTAINING REQUIRED GOVERNMENTAL OR OTHER CONSENTS OR OBSERVING ANY OTHER REQUIRED LEGAL OR OTHER FORMALITIES. THE COMPANY RESERVES THE RIGHT TO DENY THE PURCHASE OF THE SECURITIES BY ANY FOREIGN INVESTOR.**

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**Investing in our Common Shares involves a high degree of risk. These are speculative securities. You should purchase these securities only if you can afford a complete loss of your investment. See "*****Risk Factors*****" starting on page 12 for a discussion of certain risks that you should consider in connection with an investment in our securities.**

No application is currently being prepared for the Common Shares to trade on any public market. As a result, the Common Shares sold in this Offering may not be listed on a securities exchange or quoted on an alternative trading system for an extended period of time, if at all. If the Common Shares are not listed on a securities exchange or quoted on an alternative trading system, it may be difficult to sell or trade in the Common Shares. There can be no assurance that a liquid market for the Common Shares will develop or, if it does develop, that it will continue. If a market does develop, it may not be liquid. Therefore, investors may not be able to sell the Common Shares easily or at prices that will provide them with yield comparable to similar investments that have a developed secondary market. Illiquidity may have a severely adverse effect on the market value of the Common Shares and investors wishing to sell the Common Shares might therefore suffer losses.

The Company is following the "Offering Circular" format of disclosure under Regulation A+ pursuant to the general instructions of Part II(a)(1)(i) of Form 1-A.

**We expect to commence the sale of the Common Shares on the date on which the SEC qualifies the offering statement of which this offering circular is a part.**

**THIS OFFERING CIRCULAR CONTAINS ALL OF THE REPRESENTATIONS BY US CONCERNING THIS OFFERING, AND NO PERSON SHALL MAKE DIFFERENT OR BROADER STATEMENTS THAN THOSE CONTAINED HEREIN. INVESTORS ARE CAUTIONED NOT TO RELY UPON ANY INFORMATION NOT EXPRESSLY SET FORTH IN THIS OFFERING CIRCULAR.**

**TABLE OF CONTENTS**

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| | |
|:---|:---|
| [IMPORTANT INFORMATION ABOUT THIS OFFERING CIRCULAR](#page_5) | [1](#page_5) |
| [CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS](#page_6) | [2](#page_6) |
| [SUMMARY](#page_6) | [2](#page_6) |
| [THIS OFFERING](#page_10) | [6](#page_10) |
| [RISK FACTORS](#page_11) | [7](#page_11) |
| [DILUTION](#page_21) | [17](#page_21) |

---

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| | |
|:---|:---|
| [PLAN OF DISTRIBUTION](#page_23) | [19](#page_23) |
| [SUBSCRIPTION PROCEDURES](#page_26) | [22](#page_26) |
| [USE OF PROCEEDS TO COMPANY](#page_29) | [25](#page_29) |
| [DESCRIPTION OF BUSINESS](#page_31) | [27](#page_31) |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#page_41) | [37](#page_41) |
| [DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES](#page_42) | [38](#page_42) |
| [COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS](#page_46) | [42](#page_46) |
| [SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS](#page_48) | [44](#page_48) |
| [INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS](#page_49) | [45](#page_49) |
| [SECURITIES BEING OFFERED](#page_52) | [48](#page_52) |
| [WHERE YOU CAN FIND MORE INFORMATION](#page_58) | [54](#page_58) |
| [FINANCIAL STATEMENTS](#page_60) | [F-1](#page_60) |
| [PART III - EXHIBITS](#page_101) |  |
| [SIGNATURES](#page_104) |  |

---

**IMPORTANT INFORMATION ABOUT THIS OFFERING CIRCULAR**

In this offering (this "**Offering**"), we are offering to sell, and seeking offers to buy, "Voting Common Shares", without par value (the "**Common Shares**"), of Naqi Logix Inc., a corporation formed pursuant to the laws of the Province of British Columbia and domiciled in the Province of British Columbia (the "**Company**", "**Naqi Logix**", "**Naqi**", "**we**", "**our**", "**us**"), only in jurisdictions where such offers and sales are permitted. Please carefully read the information in this offering circular and any accompanying offering circular supplements, which we refer to collectively as the "**Offering Circular**." You should rely only on the information contained in this Offering Circular. We have not authorized anyone to provide you with any information other than the information contained in this Offering Circular. The information contained in this Offering Circular is accurate only as of its date or as of the respective dates of any documents or other information incorporated herein by reference, regardless of the time of its delivery or of any sale or delivery of our securities. Neither the delivery of this Offering Circular nor any sale or delivery of the Common Shares shall, under any circumstances, imply that there has been no change in our affairs since the date of this Offering Circular. This Offering Circular will be updated and made available for delivery to the extent required by the federal securities laws.

This Offering Circular is part of an offering statement (the "**Offering Statement**") that we filed with the Securities and Exchange Commission (the "**SEC**") using a continuous offering process. Periodically, we may provide an Offering Circular supplement that would add, update or change information contained in this Offering Circular. Any statement that we make in this Offering Circular will be modified or superseded by any inconsistent statement made by us in a subsequent Offering Circular supplement. The Offering Statement we filed with the SEC includes exhibits that provide more detailed descriptions of the matters discussed in this Offering Circular. You should read this Offering Circular and the related exhibits filed with the SEC and any Offering Circular supplement, together with additional information contained in our annual reports, semi-annual reports and other reports and information statements that we will file periodically with the SEC. The Offering Statement and all supplements and reports that we have filed or will file in the future can be read at the SEC website, www.sec.gov<u>EDGAR Full Text Search</u>.

------

Unless otherwise indicated, data contained in this Offering Circular concerning the business of the Company are based on information from various public sources. This Offering Circular also includes statistical and other market data that we obtained from industry publications and research, surveys and studies conducted by third parties. Although we believe that this data is generally reliable, such information is inherently imprecise, and our estimates and expectations based on this data involves a number of assumptions and limitations. As a result, you are cautioned not to give undue weight to such data, estimates or expectations. All references in this Offering Circular to "$" or "dollars" are to United States dollars, unless specifically stated otherwise. All references in this Offering Circular to "C$" are to Canadian dollars.

**CERTAIN TAX CONSIDERATIONS**

No information contained herein, nor in any prior, contemporaneous or subsequent communication should be construed by a prospective investor as legal or tax advice. We are not providing any tax advice as to the acquisition, holding or disposition of the Common Shares. In making an investment decision, investors are strongly encouraged to consult their own tax advisor to determine the U.S. Federal, state and any applicable foreign tax consequences relating to their investment in the Common Shares. This written communication is not intended to be "written advice," as defined in Circular 230 published by the U.S. Treasury Department.

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

Some of the statements under "*Summary*," "*Risk Factors*," "*Management's Discussion and Analysis of Financial Condition and Results of Operations*," "*Description of Business*" and elsewhere in this Offering Circular constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. In some cases, you can identify forward-looking statements by terms such as "*anticipate*," "*believe*," "*could*," "*estimate*," "*expect*," "*intend*," "*may*," "*plan*," "*potential,*" "*should*," "*will*" and "*would*" or the negatives of these terms, or other comparable terminology.

You should not place undue reliance on forward-looking statements. The cautionary statements set forth in this Offering Circular, including in "*Risk Factors*" and elsewhere, identify important factors which you should consider in evaluating our forward-looking statements.

Although the forward-looking statements in this Offering Circular are based on our beliefs, assumptions and expectations, taking into account all information currently available to us, we cannot guarantee future transactions, results, performance, achievements or outcomes. No assurance can be made to any investor by anyone that the expectations reflected in our forward-looking statements will be attained, or that deviations from them will not be material and adverse. We undertake no obligation, other than as may be required by law, to re-issue this Offering Circular or otherwise make public statements updating our forward-looking statements.

**SUMMARY**

*This Offering summary highlights material information regarding our business, and this Offering. Because it is a summary, it may not contain all of the information that is important to you. To understand this Offering fully, you should read the entire Offering Circular carefully, including the "Risk Factors" section, before making a decision to invest in the Company. Some of the statements in this Offering Circular are forward-looking statements. See the section entitled "Cautionary Statement Regarding Forward-Looking Statements" above.*

**Our Business**

The Company was established on August 4, 2020, under the jurisdiction of the Province of British Columbia in Canada and has its corporate office at 100 Park Royal, Suite 200, West Vancouver, British Columbia, Canada, V7T 1A2. The Company's headquarters are in the Vancouver, British Columbia area and, as of the date of this filing, the Company conducts its operations through its Canadian parent entity and two subsidiaries, including its U.S. subsidiary incorporated in the State of Delaware in April 2025 and its subsidiary in France (Wiser Assets & Liabilities SAS, acquired on February 2, 2026).

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Subsequent to the fiscal year ended June 30, 2025, the Company entered into a Share Purchase Agreement dated December 30, 2025 to acquire all of the issued and outstanding shares of Wisear SAS not already held by the Company, and the acquisition closed on February 2, 2026. Wisear is a neurotechnology company based in France focused on biosignal-based gesture recognition for wearable devices. The Company believes the Wisear acquisition expands its intellectual property portfolio and strengthens its capabilities in biosignal acquisition, signal processing, and machine learning technologies relevant to wearable neural interface systems.

Naqi Logix Inc. is a neurotechnology company focused on developing a non-invasive human-machine interface platform designed to enable users to control digital systems without the use of their hands, voice, or traditional graphical interfaces. The Company has developed a hardware-enabled software platform intended to interpret user intent through biosignals captured in and around the ear and translate those signals into digital commands that can interact with computers, mobile devices, robotics, and connected environments.

The platform currently consists of three primary components: (i) the Naqi Neural Earbud, a wearable sensing device embodied in an earbud form factor; (ii) the Naqi Hub, the software platform that processes biosignals and motion data and executes commands; and (iii) the Company's patented Invisible User Interface ("IUI"), a command architecture designed to allow navigation and control without visual interaction. The Naqi Neural Earbud integrates multiple sensor technologies designed to capture biosignals and motion data, including electromyographic (EMG), electroencephalographic (EEG), and electrocardiographic (ECG) signals, along with inertial measurement units (IMUs) capable of detecting head movement and orientation. These signals may be generated by natural facial micro-gestures such as jaw clenches, eyebrow movements, eye blinks, and other subtle muscle activations. Unlike invasive brain-computer interface technologies that require surgical implantation, the Company's solution is external to the body and can be worn and removed like a conventional earbud.

The Company believes its wearable neural interfaces could represent a potential new input modality for interacting with digital systems by enabling users to issue commands silently and without physical contact with devices. The Company has demonstrated the ability of its platform to control a range of digital systems, including personal computers, mobile devices, smart home systems, and connected hardware such as mobility devices and robotic systems, and believes the platform may support applications across accessibility technologies, consumer electronics, computing interfaces, gaming platforms, smart environments, and emerging human-machine interface systems.

The Company's current wearable neural interface platform, as presently contemplated for consumer electronic applications, may not require regulatory clearance. In certain circumstances where the device might be used for a medical, assistive, or other regulated application, certain regulatory approvals may be required depending on intended use and jurisdiction. The Company's technologies and services offerings are described in greater detail in "Description of Business" below together with a detailed description of its entire business.

Prior to the Wisear Acquisition and as of the fiscal year ended June 30, 2025, our direct personnel consisted of three full-time employees, and eight part-time consultants. As of the date of Offering Circular, the Company has completed the Wisear Acquisition and now has ten full-time employees and nine consultants and four independent contractors as part of our research and development team. The Company's personnel operate virtually from remote locations. The principal place of business and mailing address is Naqi Logix Inc., 100 Park Royal, Suite 200, West Vancouver, BC V7T 1A2, Canada and the telephone number is 1-888-627-4564. The website address is <u>www.naqilogix.com</u>. The information contained therein or accessible thereby shall not be deemed to be incorporated into this Offering Circular.

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**Our Corporate Strategy**

Management continues to pursue a corporate strategy that is focused on engaging with organizations that may contribute to product development, platform validation, and potential integration of the Company's technology into broader digital and device ecosystems and in building and developing our business as a provider of end-to-end solutions to support the development, validation and commercialization of its neural interface platform. Most recently, in furtherance of this strategy, the Company completed the acquisition of Wisear Assets & Liabilities SAS on February 2, 2026, which expanded the Company's intellectual property portfolio and strengthened its capabilities in biosignal acquisition, signal processing, and machine learning. In connection with such strategy and to facilitate our long-term growth, we continue to evaluate various strategic opportunities, including partnerships with original equipment manufacturers ("OEMs"), and providers of complementary technologies and intellectual property ("IP") to further our goals by adding technology, differentiation, customers and/or revenue. We are primarily looking for partnerships that have business value and operational synergies, while remaining opportunistic with respect to other strategic and/or attractive transactions. We believe these complementary technologies will add value to the Company and allow us to provide a comprehensive integrated ecosystem to our customers. In addition, we may seek to expand our capabilities around robotics, accessibility technology, consumer electronics, and emerging human-machine interface systems. Candidates with proven technologies and products that complement our overall strategy may come from anywhere in the world, as long as there are strategic and financial reasons to establish the partnership. We are also exploring opportunities that will supplement our revenue growth, which may include value-enhancing acquisitions that provide business value and operational synergies, as well as other opportunistic or strategic transactions that we believe may increase overall shareholder value. These may include, but are not limited to, alternative investment opportunities, such as minority investments, acquisitions or joint ventures. If we make any acquisitions in the future, we expect that we may pay for such acquisitions using our equity securities and/or cash and debt financings in combinations appropriate for each acquisition.

**Description of Property**

We do not own any facilities and do not expect to own any facilities in the immediate future.

**Risks Related to Our Business and Industry**

Our business and our ability to execute our business strategy are subject to a number of risks, which are more fully described in the section titled "*Risk Factors*" beginning on page 12. These risks include business and industry risks, including that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We have a history of losses and can provide no assurance of our future operating results;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• The Company was recently formed and has a limited operating history and no revenues;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We may not have adequate capital to fund our business and may need substantial additional funding to continue operations; we may not be able to raise capital when needed, if at all, which would force us to delay, reduce or eliminate our product development programs or commercialization efforts and could cause our business to fail;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We have limited existing brand identity and customer loyalty; if we fail to attract customers to use our service offerings, our business could suffer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We depend on third-party suppliers and manufacturers, and supply chain disruptions, engineering challenges or manufacturing delays could delay commercialization of the Naqi Earbud and Naqi Hub and Invisible User Interface;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Our business currently depends on the successful development, validation and commercialization of a limited number of products and technologies, specifically the Naqi Earbuds Framework;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We will need to increase the size of our organization, and we may be unable to manage rapid growth effectively;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We are not subject to Sarbanes-Oxley and lack the internal controls over financial reporting required of public companies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Our Company does not currently have a Chief Financial Officer, and the absences of a dedicated financial officer may adversely affect our financial reporting and internal controls;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• The smart earbud, gestural input, brain-computer interface and non-tactile input industries are competitive, and we may be unable to compete with companies with greater financial or technical resources than us, which could negatively affect our operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• New products and services may subject us to additional risks, and a failure to successfully manage these risks may have a material adverse effect on our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• If we are unable to develop a partner ecosystem, sales, marketing and distribution channels or to enter into agreements with third parties to perform these functions on acceptable terms, we may be unable to generate revenue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We may face significant competition in Canada and in other markets, including the United States, Europe and Asia where we may decide to operate in the future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Our revenue could fluctuate from period to period, which could have an adverse material impact on our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• The integration of Wisear and its operations, personnel and intellectual property involves significant risks that could adversely affect our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We are subject to pending litigation that, if resolved adversely, could result in monetary damages and divert management attention;

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• If we are unable to effectively protect our intellectual property and trade secrets, it may impair our ability to compete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Customer complaints regarding our products and services could hurt our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Computer, website and/or information system breakdowns, as well as cyber security attacks, could affect our business;

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• We will depend on third-party providers for a reliable Internet infrastructure as well as other aspects of our technology and applications and the failure of these third parties, or the Internet in general, for any reason would significantly impair our ability to conduct our business;

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• We may be involved in legal and regulatory proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• The liability of our directors and officers and others is limited under certain circumstances;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Our executive officers, directors and insider shareholders beneficially own or control a substantial portion of the outstanding Common Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Our success is dependent on part-time executive;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We may have difficulty retaining and acquiring personnel;

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• Our directors and officers may have conflicts of interest;

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• Our financial statements have been prepared in accordance with IFRS accounting principles;

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• Public health epidemics or outbreaks could adversely impact our business;

**Risks Related to Regulations**

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• In certain circumstances, we will be required to seek regulatory approval for our technology if it is intended to be used for medical applications, such as wheelchair control. There is no guarantee we will be successful in procuring all necessary approvals; and

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• Our business is and may become subject to complex and evolving U.S. and foreign laws and regulations regarding privacy, data use and data protection, content, competition, safety and consumer protection, e-commerce, and other matters. Many of these laws and regulations are subject to change and uncertain interpretation, and could result in claims, changes to our products and business practices, monetary penalties, increased cost of operations, or declines in user growth or engagement, or otherwise harm our business.

**Risks Related to This Offering and the Common Shares**

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• Our outstanding convertible debentures may result in dilution to investors in this Offering upon conversion or exercise of the accompanying warrants;

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• We may terminate this Offering at any time during the Offering Period and do not have a minimum capitalization;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• The Common Shares are being offered on a "best efforts" basis and we may not raise sufficient capital to satisfy our working capital needs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• It is uncertain when the Common Shares will be listed on an exchange for trading, if ever;

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• If the Common Shares become subject to the penny stock rules, it would become more difficult to trade the Common Shares;

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• We have broad discretion in how we use the proceeds of this Offering and may not use these proceeds effectively, which could affect our results of operations and cause the price of our Common Shares to decline;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We do not intend to pay dividends on the Common Shares and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of the Common Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• Terms of subsequent financings, if any, may adversely impact investors' investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• We determined the offering price for the Common Shares being sold in this Offering; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

• If an investor purchases Common Shares in this Offering, the investor will incur immediate and substantial dilution in the book value of the Common Shares.

**Regulation A+**

We are offering the Common Shares pursuant to rules of the SEC mandated under the JOBS Act. These offering rules are often referred to as "Regulation A+." We are relying upon "Tier 2" of Regulation A+, which allows us to offer securities of up to $75 million in a 12-month period.

In accordance with the requirements of Tier 2 of Regulation A+, we are required to publicly file annual, semi-annual, and current event reports with the SEC after the qualification of the offering statement of which this Offering Circular is a part.

**THIS OFFERING**

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| | |
|:---|:---|
| **Company:** | &nbsp;&nbsp;Naqi Logix Inc., a corporation formed pursuant to the laws of the Province of British Columbia and domiciled in the Province of British Columbia |
| **Shares Offered:** | &nbsp;&nbsp;Up to 5,747,126 Common Shares, without par value plus 1,149,425 Bonus Shares |
| **Price per Share:** | &nbsp;&nbsp;$2.61 |
| **Minimum Investment:** | &nbsp;&nbsp;$522.00 per investor. |
| **Common Shares Outstanding before this Offering:** | &nbsp;&nbsp;51,654,830 Common Shares and 904,974 Non-Voting Common Shares issued and outstanding, totaling 52,559,804 shares ("Common Share Equivalents") issued and outstanding. |
| **Common Shares Outstanding after this Offering:** | &nbsp;&nbsp;57,213,206 Common Shares and 904,974 Non-Voting Common Shares issued and outstanding, totaling 58,118,180 Common Share Equivalents (including the Common Shares and Non-Voting Common Shares), if the Maximum Offering is sold (excluding Bonus Shares). |
| **Use of Proceeds:** | &nbsp;&nbsp;If we sell all the 5,747,126 Common Shares being offered, our net proceeds (after deducting fees and commissions and estimated offering expenses) will be approximately $13,287,000. We will use these net proceeds for prototyping and manufacturing costs; research and development; sales and marketing, general and administrative costs; legal and compliance; and general working capital, as described in "*Use of Proceeds to Company*" beginning on page 25. |
| **Subscribing Online:** | &nbsp;&nbsp;In order to invest, you will be required to subscribe to the Offering via the Company's website integrating Broker's affiliated entity technology and agree to the terms of the offering, Subscription Agreement, and any other relevant exhibits attached thereto. Investors will be required to complete an online subscription agreement with a digital signature and initiate payment for the Shares in order to invest. |
| **Risk Factors:** | &nbsp;&nbsp;Investing in our Common Shares involves a high degree of risk. See "*Risk Factors*" beginning on page 8. |

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**RISK FACTORS**

*An investment in the Common Shares involves a high degree of risk. Each investor should carefully consider the risks described below, together with all of the other information included in this Offering Circular, before making an investment decision. If any of the following risks actually occurs, our business, financial condition or results of operations could suffer. In that case, the price of the Common Shares could decline and the investors may lose all or part of their investments. See "Cautionary Statement Regarding Forward Looking Statements" above for a discussion of forward-looking statements and the significance of such statements in the context of this Offering Circular.*

**Risks Related to our Business and Industry**

***We have a history of losses and can provide no assurance of our future operating results.***

As of the date of this Offering Circular, the Company continues to develop our products and has not yet commenced revenue-generating operations related to ongoing manufacturing and/or ongoing licensing. The Company is currently testing its hardware and software platform with the Government of Canada to assess user experience and use cases for employee productivity and military applications. The Company is negotiating with 3 enterprises to conduct user tests to assess user experience and value proposition.

As we continue to develop and have not begun generating revenue from the sale of our products and services, we have experienced net losses and negative cash flows from operating activities since incorporation, and we expect such losses and negative cash flows to continue in the foreseeable future. As of June 30, 2025, the Company had working capital deficiency of $3,094,642 and a cumulative loss since inception of $18,584,282. As a result, our continuance as a going concern is dependent upon our ability to obtain adequate financing and to reach profitable levels of operation upon commercialization of our products and services.

It is not possible to predict whether financing efforts will be successful or if we will attain profitable levels of operations. Management believes it will be successful in raising the necessary funding to continue operations in the normal course of operations, however, there is no assurance that funds will continue to be available on acceptable terms or at all. Our financial statements do not reflect adjustments to the carrying value of assets and liabilities that would be necessary should we be unable to continue operations and such adjustments could be material.

***The Company was recently formed and has a limited operating history and no revenues.***

The Company is a pre-revenue start-up that was established to pursue the development of our products. We lack a historical operating record upon which to assess our business and prospects. Prospective operating results are subject to a multitude of uncertainties, and there is no guarantee of achieving or sustaining profitability. Our prospects must be viewed in the context of the risks inherent to companies in early-stage development, particularly those operating in novel and swiftly evolving markets. Future performance hinges on various factors, including, but not limited to, securing requisite financing, as outlined in this offering, or obtaining funding through alternative means, establishing credit or operational facilities, product development success, effective marketing strategies, customer acquisition, operational cost management, personnel retention, legal and regulatory changes in relevant jurisdictions, and broader economic conditions influencing our customer base. We cannot provide assurances regarding our ability to mitigate these risks successfully.

***We may not have adequate capital to fund our business and may need substantial additional funding to continue operations. We may not be able to raise capital when needed, if at all, which would force us to delay, reduce or eliminate our product development programs or commercialization efforts and could cause our business to fail.***

We have not yet initiated revenue-generating activities, relying instead on securing adequate capital to support the ongoing development of Naqi's products, as well as any potential future products or services. The Company expects the earliest commercial launch of its product to occur in 2027. Should our initial capital be fully utilized without access to additional funding through borrowing or alternative sources, it would significantly impact our financial position, operational performance, and business prospects.

The development of our business operations and the commercialization of current and potential future products and services may necessitate further capital infusion. Unforeseen expenses, complications, and delays inherent in pioneering technology development could escalate our capital requirements and deplete our cash reserves faster than anticipated.

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Consequently, securing additional funding is imperative for sustaining our operations. However, market conditions, regulatory constraints, or other factors may hinder our ability to raise necessary capital. There is no assurance that we will successfully obtain adequate funding to support our business activities. Failure to secure additional funding may compel us to scale back, postpone, or abandon development initiatives or overhead expenditures as necessary.

The inability to meet our operational and capital needs could have a materially adverse impact on our business operations, financial health, and financial performance.

***We have limited existing brand identity and customer loyalty; if we fail to attract customers to use our service offerings, our business could suffer.***

As we are presently focused on research and development and have yet to commercialize Naqi's products, our brand identity and customer loyalty are not firmly established. We recognize that cultivating and preserving brand identity and loyalty is essential for attracting customers once our products and services become commercially available. To entice customers, significant expenditure may be required to develop and sustain brand recognition among consumers. We anticipate that the costs associated with our marketing initiatives could escalate considerably in the future.

If our endeavors to promote our products and establish brand recognition prove ineffective, it may adversely impact our revenue generation capabilities and the sustainability of our operations.

***We depend on third-party suppliers and manufacturers, and supply chain disruptions, engineering challenges or manufacturing delays could delay commercialization of the Naqi Earbud and Naqi Hub and Invisible User Interface.***

Naqi Logix is heavily reliant on outsourced vendors for the procurement of components, all of which are vulnerable to disruptions within the global supply chain. Delays in acquiring raw materials and electronic parts for the Naqi Earbud may occur, potentially impeding the distribution of finished products. Moreover, unforeseen engineering challenges during manufacturing, inherent to the novelty of the Naqi Earbud design, could further delay the completion of the final product, thus postponing the commercialization of Naqi's products.

Additionally, there is a risk that the company may encounter difficulties in securing licensing agreements with established brand manufacturers or in establishing partnerships with contract manufacturers.

***Our business currently depends on the successful development, validation and commercialization of a limited number of products and technologies, specifically the Naqi Earbuds and Naqi Framework.***

As we continue to develop Naqi's products, various factors, including technological and regulatory challenges within our target markets, may impede or delay their potential launch, thereby potentially constraining our profitability. Given that these products constitute our sole focus at present, our overall financial performance hinges directly on their successful development and subsequent performance.

***We will need to increase the size of our organization, and we may be unable to manage rapid growth effectively.***

Our inability to effectively manage growth could materially and adversely impact our business, financial condition, and results of operations. A period of substantial expansion is anticipated to accommodate the development and launch of new products and services, alongside potential internal growth to support research and marketing endeavors. This expansion will exert significant pressure on management, operational, and financial resources.

To address the anticipated growth in operations and personnel, we must enhance our existing operational and financial systems, procedures, and controls, as well as implement new ones. Additionally, expansion of our finance, administrative, and operational staff will be necessary. However, there is a risk that our current personnel, systems, procedures, and controls may not adequately support future operations.

Management may encounter challenges in recruiting, training, retaining, motivating, and supervising required personnel, or in identifying, managing, and capitalizing on existing and potential strategic relationships and market opportunities.

***We are not subject to Sarbanes-Oxley and lack the internal controls over financial reporting required of public companies.***

At present, we lack the internal infrastructure necessary, and are not obligated, to conduct an attestation regarding our internal controls over financial reporting, as mandated by Section 404 of the Sarbanes-Oxley Act. Consequently, there is a risk that material deficiencies or weaknesses in the effectiveness of these internal controls may go unidentified.

In the future, we may be required, by Sarbanes-Oxley or other relevant laws (including exchange and market regulations), to establish and maintain appropriate internal controls over financial reporting. Such establishment could result in significant expenses and diversion of management's attention. Failure to establish adequate controls, or any subsequent failure of those controls, could negatively impact our public disclosures concerning our business, financial condition, or results of operations.

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Moreover, management's assessment of internal controls over financial reporting may reveal weaknesses and deficiencies requiring attention, or other matters that may raise investor concerns. Any actual or perceived weaknesses or deficiencies in our internal controls over financial reporting, disclosure of management's assessment of these controls, or our public accounting firm's attestation to or report on management's assessment could adversely affect the price of our Common Shares.

***Our Company does not currently have a Chief Financial Officer, and the absence of a dedicated financial officer may adversely affect our financial reporting and internal controls.***

As of November 3, 2025, the Company's Chief Financial Officer, Xavier Wenzel, resigned from his position. The Company does not currently intend to fill the Chief Financial Officer position, and no replacement has been identified. As a result, the Company's financial reporting, accounting oversight, internal controls, and regulatory compliance functions are being managed without a dedicated senior financial officer. The absence of a Chief Financial Officer may adversely affect the accuracy and timeliness of the Company's financial reporting and public disclosures, its ability to comply with SEC reporting obligations under Regulation A, the effectiveness of its internal controls over financial reporting, and its ability to manage financial risk. Any deficiencies in financial reporting or internal controls arising from this vacancy could materially and adversely affect our business, financial condition, results of operations, and ability to raise additional capital.

***The smart earbud, gestural input, brain-computer interface and non-tactile input industries are competitive, and we may be unable to compete with companies with greater financial or technical resources than us, which could negatively affect our operations.***

The sectors encompassing smart earbuds, gestural input, brain-computer interfaces, and non-tactile inputs are characterized by rapid technological advancements and fierce competition. Our potential success is contingent upon several factors, including access to patents and other technology protections, the ability to effectively commercialize technological innovations, the availability of capital, access to market channels, and obtaining necessary approvals for testing, manufacturing, and commercialization.

We will encounter competition from major global technology firms, some of which may be integrating state-of-the-art biotechnology, signal analysis, sensor development, and computing logic into their products and services. These firms may also seek to exploit the unique patented technology we are developing. Furthermore, competition arises from academic institutions, government agencies, and private research organizations, competing with us in research and development, product development, and market and brand establishment. Additionally, these entities vie for highly skilled scientific personnel, consultants, and investment capital.

The successful development of Naqi's products is highly speculative and dependent on numerous factors, many of which are beyond our control. The Company, recently formed to develop these products, has yet to commence revenue-generating operations. Our business hinges on the successful development and implementation of such products and prototypes. This underscores the speculative nature of our endeavors, subject to numerous risks and uncertainties.

Key aspects crucial to our success include establishing brand recognition and customer loyalty, effectively developing and deploying new products and services, competing in existing and emerging markets, managing administrative overhead costs, navigating economic conditions, developing our partner ecosystem, validating our technology with co-innovation partners, managing business growth, and expanding into adjacent markets.

There is no guarantee of success in addressing these risks and uncertainties or generating significant revenues or profits. Investment in our Common Shares is speculative, with no assurance of any return on investment. Investors face substantial risks, including the possibility of losing their entire investment.

***New products and services may subject us to additional risks. A failure to successfully manage these risks may have a material adverse effect on our business.***

Periodically, we may engage in the development and launch of new products and services. Such endeavors entail significant risks and uncertainties, particularly when entering markets that are not fully matured. The development and marketing of new products and services often require substantial investments of time and resources. Initial timelines for product introduction and development may not be met, and targets for pricing and profitability may prove unattainable. Moreover, external factors, including regulatory compliance, competitive alternatives, and evolving market preferences, can influence the successful implementation of new offerings.

Failure to effectively manage these risks associated with the development and implementation of new products or services could materially impact our business, financial condition, and results of operations.

***If we are unable to develop a partner ecosystem, sales, marketing and distribution channels or to enter into agreements with third parties to perform these functions on acceptable terms, we may be unable to generate revenue.***

Presently, we lack any internal sales, marketing, or distribution capabilities. Upon introducing products or services to the market, we must establish sales, marketing, and distribution channels for their commercialization. This process may entail substantial expenses and time commitments. Alternatively, we may opt to engage in collaborations with third parties to perform these functions.

Should we choose to directly market our products, significant financial and managerial resources will be required to cultivate a specialized marketing and sales force, equipped with technical expertise, along with supporting distribution, administration, and compliance capabilities. Alternatively, if we rely on third-party collaborations or co-promotion agreements, we must establish and sustain marketing and distribution partnerships, with no guarantee of securing favorable terms or agreements.

In engaging third-party marketing or distribution collaborators, any revenue received, whether directly or indirectly, hinges upon the efforts and profitability of these parties. There exists uncertainty regarding their ability to establish adequate sales and distribution capabilities or achieve market acceptance for our products.

Failure to successfully commercialize products, whether independently or through third-party collaborations, could have a materially adverse impact on our business, financial condition, and results of operations.

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***We may face significant competition in Canada and in other markets like United States, Europe and Asia where we may decide to operate in the future.***

We anticipate encountering significant competition in Canada and potentially in other markets where we choose to introduce Naqi's products, including but not limited to the United States, Europe, and Asia. This competition may extend to other products and services that we have yet to identify or develop. Many of our competitors may possess considerably greater financial, technical, and operational resources, such as larger research and development teams and established marketing departments. Furthermore, ongoing mergers and acquisitions within our industry could further consolidate resources among our competitors.

***Our revenue could fluctuate from period to period, which could have an adverse material impact on our business.***

Our revenue may experience fluctuations from period to period in the future, influenced by various factors, many of which are beyond our control. These factors include events such as changes in state and federal government regulations, international government laws and regulations, or the enforcement thereof. Additionally, general economic and political conditions, both domestically and internationally, as well as occurrences like natural disasters, risks associated with unforeseen events such as new pandemics or foreign conflicts that disrupt global supply chains and trade, may contribute to revenue volatility.

Due to these factors and others detailed elsewhere in this Offering Circular, the results of operations for any given quarterly or annual period may materially differ from those of previous or subsequent periods. Therefore, these results should not be relied upon as indicators of our future performance.

***The integration of Wisear and its operations, personnel, and intellectual property involves** **significant risks that could adversely affect our business.***

On February 2, 2026, we completed the acquisition of Wisear Assets & Liabilities SAS. The integration of Wisear's operations, personnel, intellectual property, and technology into our existing business involves significant challenges and uncertainties, including: integration of an international team operating under French employment law and labor regulations; management of Euro-denominated financial liabilities assumed in the acquisition (approximately $1.87 million); retention of key Wisear personnel, of whom 1,600,671 acquisition shares are subject to two-year vesting conditions contingent on continued service; and validation and integration of Wisear's intellectual property portfolio into the Company's broader platform. In addition, our purchase price allocation for the Wisear acquisition is preliminary and provisional, and the final allocation, to be completed within 12 months of the acquisition date, may differ materially from the amounts presented in this Offering Circular, potentially resulting in material adjustments to intangible assets, goodwill, and amortization expense.

***We are subject to pending litigation that, if resolved adversely, could result in monetary damages and divert management attention.***

On November 24, 2025, Northern Crucible Inc. and an associated individual each filed civil claims against the Company seeking aggregate damages of approximately CAD $500,000 (approximately USD $370,000) in connection with an alleged breach of contract and non-payment of services. Although the Company believes these claims are without merit and intends to defend them vigorously, litigation is inherently uncertain. Defending these proceedings could result in substantial legal fees, require significant management time and attention, and divert financial and operational resources. An adverse outcome affect our business, financial condition, and results of operations.

***If we are unable to effectively protect our intellectual property and trade secrets, it may impair our ability to compete.***

Our ability to achieve success is contingent, in part, upon securing and maintaining meaningful intellectual property (IP) protection for our assets. Challenges to the names and/or logos of our brands may arise from holders of trademarks who contest our trademark applications or file opposition notices against them. Similarly, disputes may arise concerning the ownership and use of domains or URLs owned and utilized by us.

We rely on patents, trademarks, copyrights, and trade secrets to safeguard our IP. However, there is a risk that these rights may be challenged by others, necessitating enforcement actions. Despite our efforts to protect trade secrets, inadvertent or deliberate disclosure by employees, consultants, contractors or advisors, or independent development by competitors, could compromise their confidentiality. Furthermore, courts outside the United States may offer less robust protection for trade secrets.

Infringement of our IP rights could result in significant litigation costs. Failure to adequately protect trade secrets could lead to competitors offering similar products, eroding our competitive advantage and reducing revenues. Existing IP laws provide limited protection, particularly in some foreign jurisdictions. Consequently, we may be unable to prevent unauthorized third-party use of our IP.

Enforcing claims against third-party infringement could be resource-intensive and unpredictable in outcome, potentially diverting resources and adversely affecting our operating results.

***Customer complaints regarding our products and services could hurt our business.***

Periodically, we may receive customer complaints regarding the quality of products and services acquired from or licensed by us. In the future, we may also receive correspondence from dissatisfied customers seeking reimbursement, with some individuals threatening legal action if reimbursement is not provided. Moreover, we face the potential risk of product liability lawsuits from customers alleging injury due to perceived defects in our products or services and seeking substantial damages.

As participants in the product supply or distribution chain, we bear the risk of being held legally accountable for such issues. Furthermore, these claims may not fall within the coverage of our insurance policies. Litigation arising from such claims could prove costly, divert management attention, increase business expenses, or otherwise have a material adverse impact on our business, financial condition, and results of operations.

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Any negative publicity stemming from customer dissatisfaction with our products, services, or websites could tarnish our reputation and diminish the value of our brand name. Such repercussions could have a material adverse effect on our business, financial condition, and results of operations.

***Computer, website and/or information system breakdowns, as well as cyber security attacks, could affect our business.***

Computer, website, and/or information system failures, along with cyber security breaches, have the potential to disrupt our ability to execute our business strategies. These disruptions may result in diminished revenue and/or reputational harm, which could significantly impact on our financial performance and the investments of our shareholders.

***We will depend on third-party providers for a reliable Internet infrastructure as well as other aspects of our technology and applications and the failure of these third parties, or the Internet in general, for any reason would significantly impair our ability to conduct our business.***

We intend to outsource certain aspects of our online presence, server requirements, technology development, and data management to third-party providers. These providers will host the physical servers, ensuring power and security in multiple data centers across various geographic locations. However, the uninterrupted operation of these servers is contingent upon consistent access to the Internet.

Our business is vulnerable to disruptions that may arise from various factors, including natural disasters, the financial insolvency of third-party providers, or malicious electronic intrusions into the data centers. Moreover, we may face "denial-of-service" attacks, where unidentified individuals overwhelm our computer servers with data requests, leading to performance degradation. Identifying and neutralizing these attacks may pose challenges.

The failure of a third-party facility, interference with our Internet access due to general Internet equipment failure, or malicious cyber-attacks could significantly damage our business. Specifically, our Naqi Cloud environment could be materially adversely affected, impacting our business operations and financial results.

***We may be involved in legal and regulatory proceedings.***

From time to time, we may become involved in legal and regulatory proceedings, which may involve governmental agencies, business entities, customers, or other matters arising in the ordinary course of business. We will assess our potential exposure to these proceedings and establish reserves for estimated liabilities in accordance with generally accepted accounting principles.

However, evaluating and predicting the outcomes of these proceedings entails significant uncertainties. Unforeseen developments in legal matters or changes in management's assessments or predictions, leading to adjustments in established reserves, could negatively affect our financial results.

***The liability of our directors and officers and others is limited under certain circumstances.***

We may choose to provide indemnification to directors, officers, and other individuals to the fullest extent allowed by law. Additionally, we may seek to eliminate or limit the personal liability of directors, officers, and others to us and our shareholders for monetary damages arising from certain breaches of fiduciary duty to the extent permitted by applicable law.

Such indemnification may extend to liabilities arising in connection with this Offering. However, it's important to note that indemnification for liabilities under the Securities Act may not be enforceable. We've been advised that the Securities and Exchange Commission (SEC) considers such indemnification contrary to public policy as outlined in the Securities Act.

Despite this, providing such indemnification could potentially have a material adverse effect on us.

***Our executive officers, directors and insider shareholders beneficially own or control a substantial portion of the outstanding Common Shares.***

Our executive officers, directors, and insider shareholders collectively hold or control a significant portion of the outstanding Common Shares, which may restrict an investor's ability to influence management decisions or the overall direction of the Company. Our CEO, Mark Godsy, currently controls 14.3% of the Common Shares, our CIO, David Segal, controls 8.6% of the outstanding Common Shares, our CBO, Sandeep Arya, controls 1.1% of the outstanding Common Shares while director Gary Roshack controls 5.0%, director Sam Sullivan controls 0.5% and director John Occhipinti 0.5%, and Wisear controls 7.8%. Collectively our executive team and board of directors control approximately 38% of outstanding Common Shares. This concentrated ownership structure may deter or impede potential takeover attempts that could otherwise result in investors receiving a premium over the market price for the Common Shares. These insiders may wield considerable influence over the election of directors and the approval of shareholder actions.

Additionally, our executive officers, directors, and insider shareholders may possess the ability to control matters requiring shareholder approval, such as mergers or other business combinations. The Voting Agreement concentrates voting control in our Chief Executive Officer, which may limit other shareholders' ability to influence corporate matters and could discourage transactions involving a change of control. All investors are required to enter into an adoption agreement pursuant to which they become subject to the Voting Agreement. Under the Voting Agreement, holders of our Common Shares are required to vote their shares in accordance with its terms. For so long as Mr. Godsy is providing services to the Company, shareholders must vote their Common Shares in favor of the election of up to seven directors designated by Mr. Godsy. As a result, Mr. Godsy is able to control the composition of our board of directors, notwithstanding that his economic ownership interest in the Company is significantly less than a majority. The Voting Agreement also requires shareholders to vote in favor of certain corporate actions approved by our board of directors and the requisite holders of our Common Shares, including, subject to customary exceptions, a sale of the Company or other deemed liquidation event approved by our board of directors and the holders of at least two-thirds of our outstanding Common Shares. In addition, if a shareholder fails to vote its shares as required by the Voting Agreement, our Chief Executive Officer may vote those shares pursuant to the irrevocable proxy and power of attorney granted thereunder. Accordingly, although Mr. Godsy beneficially owns approximately 14.3% of our securities (subject to recalculation), the Voting Agreement has the effect of concentrating voting control over significant matters in Mr. Godsy. This concentration of control could limit your ability to influence corporate matters, including the election of directors and the approval of significant corporate transactions, and could discourage, delay or prevent a merger, takeover or change of control transaction that other shareholders may believe is in their best interests.

These factors may also constrain the price that investors are willing to pay for the Common Shares in the future.

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***Our success is dependent on part-time executives***

The Company relies on the contributions of its CEO, CTO, and CBO, all of whom are not full-time employees and may have other commitments that demand their time and attention. As part-time executives, they may not be available on an ongoing basis to respond to emerging business challenges, regulatory issues, or operational needs, which could adversely impact the Company's ability to execute its business plan and achieve its strategic objectives. Their limited availability may also affect the Company's ability to raise capital, manage financial and operational risks effectively, and respond quickly to market changes. Any reduction in the time and effort that these executives are able to devote to the Company's business could adversely affect the Company's performance, and there can be no assurance that additional resources could be secured to fill any resulting gaps in leadership.

***We may have difficulty retaining and acquiring personnel.***

The departure of any member of our management team could materially impact our business and operating results. Furthermore, challenges in hiring or increased expenses associated with recruiting new personnel, including executive management, could also have a material adverse effect on our operations.

Expanding the marketing and sales of our impact products and services necessitates the acquisition, retention, and training of additional skilled employees or consultants proficient in understanding, promoting, and selling our offerings. However, the competition for talent in these areas is fierce, and there is no guarantee that we will successfully attract, onboard, integrate, motivate, or retain new personnel, vendors, or subcontractors.

Onboarding new employees and consultants typically entails significant training and a considerable timeframe before they reach peak productivity. Consequently, we may incur substantial costs related to recruiting and retaining talent, including expenses associated with salaries, benefits, and other forms of compensation. There is also a risk of losing newly acquired talent to competitors or other firms before realizing the return on our investment in recruitment and training efforts.

Additionally, as we expand into new jurisdictions, we will need to recruit skilled employees and consultants in those regions to support our operations.

***Our directors and officers may have conflicts of interest.***

We acknowledge the possibility of encountering conflicts of interest due to the involvement of certain officers and directors in various business activities outside of their roles with our Company. Additionally, our officers and directors may allocate time to pursue these external business interests, provided that such endeavors do not significantly or adversely impede their obligations to the Company.

It is conceivable that the fiduciary duties associated with these outside business interests may conflict with their ability to fully dedicate themselves to our Company's affairs, potentially impacting our operations. These external commitments may demand considerable time and attention from our executive officers and directors.

***Our financial statements have been prepared in accordance with IFRS accounting principles.***

As a Canadian-incorporated and resident company, our financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board, which differ from the accounting principles outlined in U.S. Generally Accepted Accounting Principles ("U.S. GAAP"). IFRS represents a globally recognized framework for financial reporting utilized by numerous companies worldwide, particularly those outside the United States.

Under Regulation A, Canadian issuers are permitted to prepare and submit financial statements in compliance with IFRS rather than U.S. GAAP. It's important to note that investors from the United States who may not be familiar with IFRS could potentially misinterpret certain information presented in our financial statements.

Therefore, we advise readers of our financial statements to acquaint themselves with the provisions of IFRS accounting principles to gain a comprehensive understanding of the variances between these two sets of principles.

***Public health epidemics or outbreaks could adversely impact our business.***

Our proposed business plan and operations may be adversely affected by potential medical pandemics, such as COVID-19 and its variants, which could lead to various challenges including impacts on employees, disruptions to operations, supply chain delays, manufacturing interruptions, and restrictions on travel and trade. These pandemics pose significant risks to maintaining a skilled workforce and could present major healthcare challenges for our Company.

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There is no guarantee that our personnel will be unaffected by these pandemic diseases, and there is a possibility of reduced workforce productivity or increased medical costs and insurance premiums as a result of health risks. Furthermore, we cannot guarantee that our Company will be immune to the adverse consequences that pandemics may bring about in global financial markets, potentially leading to reduced resources, share prices, and financial liquidity, which could severely limit the availability of financing capital in our sector.

**Risks Related to Regulations**

***In certain circumstances, we will be required to seek regulatory approval for our technology if it is intended to be used for medical applications, such as wheelchair control. There is no guarantee we will be successful in procuring all necessary approvals.***

The Food and Drug Administration (FDA) oversees the approval of drugs and medical devices. This includes wheelchairs and accessories for wheelchairs that are designed to improve the quality of performance or ease of use of the wheelchair. Naqi will be required to seek FDA approval in order to market the Naqi neural earbud and Framework as an accessory that is designed to improve the usability of the wheelchair, and there is no guarantee that we will be successful in getting these approvals in the near future, or at all.

***Our business is and may become subject to complex and evolving U.S. and foreign laws and regulations regarding privacy, data use and data protection, content, competition, safety and consumer protection, e-commerce, and other matters. Many of these laws and regulations are subject to change and uncertain interpretation, and could result in claims, changes to our products and business practices, monetary penalties, increased cost of operations, or declines in user growth or engagement, or otherwise harm our business.***

We are and may become subject to a variety of laws and regulations in the United States and abroad that involve matters central to our business and business plan, including privacy, data use, data protection and personal information, biometrics, encryption, rights of publicity, content, integrity, intellectual property, advertising, marketing, distribution, data security, data retention and deletion, data localization and storage, data disclosure, artificial intelligence and machine learning, electronic contracts and other communications, competition, protection of minors, consumer protection, civil rights, accessibility, telecommunications, product liability, e-commerce, taxation, economic or other trade controls including sanctions, anti-corruption and political law compliance, securities law compliance, and online payment services. The introduction of new products, expansion of our activities in certain jurisdictions, or other actions that we may take may subject us to additional laws, regulations, or other government scrutiny. In addition, foreign data protection, privacy, content, competition, consumer protection, and other laws and regulations can impose different obligations or be more restrictive than those in the United States.

These U.S. federal, state, and foreign laws and regulations, which in some cases can be enforced by private parties in addition to government entities, are constantly evolving and can be subject to significant change. As a result, the application, interpretation, and enforcement of these laws and regulations are often uncertain, particularly in the new and rapidly evolving industry in which we operate, and may be interpreted and applied inconsistently from jurisdiction to jurisdiction and inconsistently with our current policies and practices. For example, regulatory or legislative actions or litigation affecting the manner in which we display content to our users, moderate content, or obtain consent to various practices could adversely affect user growth and engagement. Such actions could affect the manner in which we provide our services or adversely affect our financial results.

We are also subject to evolving laws and regulations that dictate whether, how, and under what circumstances we can transfer, process and/or receive certain data that may become critical to our operations, including data shared between countries or regions in which we operate or will operate and data shared among our products and services.

These laws and regulations, as well as any associated claims, inquiries, or investigations or any other government actions, have in the past led to, and may in the future lead to, unfavorable outcomes including increased compliance costs, loss of revenue, delays or impediments in the development of new products, negative publicity and reputational harm, increased operating costs, diversion of management time and attention, and remedies that harm our business, including fines or demands or orders that we modify or cease existing business practices.

In addition, compliance with regulatory and legislative privacy requirements require significant operational resources and modifications to our business practices, and any compliance failures may have a material adverse effect on our business, reputation, and financial results.

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**Risks Related to this Offering and the Common Shares**

***Our outstanding convertible debentures may result in dilution to investors in this Offering upon conversion or exercise of the accompanying warrants.***

Subsequent to June 30, 2025, the Company raised an aggregate of approximately $1,438,959 through the issuance of convertible promissory notes (the ' 2025-2026 Convertible Debentures') in private placement transactions conducted between September 2025 and February 2026. The 2025-2026 Convertible Debentures bear simple interest at 10.0% per annum, mature 12 months from issuance, and are convertible into Common Shares at a fixed conversion price of $2.175 per share. The Company also issued 661,591 share purchase warrants exercisable at $2.175 per share for a five-year term. If all of the 2025-2026 Convertible Debentures are converted and all accompanying warrants are exercised, the Company would be required to issue a material number of additional Common Shares, which would result in dilution to investors in this Offering. In addition, the debt service obligations associated with the 2025-2026 Convertible Debentures, including accruing interest at 10% per annum, increase the Company's fixed cost obligations and may adversely affect its liquidity if the debentures are not converted prior to maturity.

***We may terminate this Offering at any time during the Offering Period and do not have a minimum capitalization.***

We reserve the right to terminate this Offering at any juncture, irrespective of the number of Common Shares sold. Should we terminate this Offering prior to the sale of all offered Common Shares, any capital raised up to that point will have been utilized by the Company, and no refunds will be issued to subscribers. Notably, we do not stipulate a minimum capitalization requirement and proceeds from this Offering may be immediately utilized following our acceptance of corresponding subscription agreements.

It's important to note that we lack a track record for self-underwritten Regulation A offerings, thus there is no guarantee that the Maximum Offering or any other amount will be sold in this Offering. Consequently, there is a possibility that we may not raise sufficient capital solely from this Offering to execute our business plan, potentially resulting in increased operating losses unless we secure the necessary capital from alternative sources. Additionally, there is no assurance that alternative capital, if required, would be accessible on terms deemed acceptable to us or available at all.

***The Common Shares are being offered on a "best efforts" basis and we may not raise sufficient capital to satisfy our working capital needs.***

As the offering of the Common Shares is conducted on a "best efforts" basis, there is no guarantee that we will sell a sufficient number of Common Shares to fulfill our working capital requirements. Investors purchasing Common Shares do so without assurance that we will raise adequate funds to fully utilize the proceeds outlined in this Offering Circular or to meet our working capital needs.

***It is uncertain when the Common Shares will be listed on an exchange for trading, if ever.***

At present, no application is being prepared for the Common Shares to trade on a public market. Consequently, the Common Shares sold in this Offering may not be listed on a securities exchange or quoted on an alternative trading system for an extended period, if at all. Lack of listing or quotation may pose challenges in selling or trading the Common Shares. It cannot be assured that a liquid market for the Common Shares will emerge, and if it does, its sustainability is uncertain. Investors may find it difficult to sell the Common Shares easily or at prices comparable to similar investments in a developed secondary market. The illiquidity may significantly impact the market value of the Common Shares, potentially resulting in losses for investors.

There is currently no established public trading market for our Common Shares, and there can be no assurance that our Common Shares will become listed on a national securities exchange or quoted on an alternative trading system. As a result, holders of our Common Shares may be unable to sell their shares at desired times or prices, or at all. The absence of an active trading market may impair the liquidity and market value of our Common Shares and may make it more difficult for investors to evaluate the value of their investment. Even if a trading market develops, it may not be sustained and may be characterized by limited trading volume, significant price volatility and wide bid-ask spreads. Accordingly, investors should be prepared to hold their Common Shares for an indefinite period and bear the risk of a complete loss of their investment.

***If our Common Shares become subject to the penny stock rules, the ability of investors to sell their shares could be adversely affected.*** The SEC has adopted rules that regulate broker-dealer practices in connection with transactions in penny stocks. Penny stocks are generally equity securities with a price of less than $5.00, other than securities registered on certain national securities exchanges or authorized for quotation on certain automated quotation systems, provided that current price and volume information with respect to transactions in such securities is provided by the exchange or system. If we do not obtain and retain a listing or quotation of the Common Shares and if the price of the Common Shares is less than $5.00, the Common Shares will be deemed a penny stock. The penny stock rules require a broker-dealer, before a transaction in a penny stock not otherwise exempt from those rules, to deliver a standardized risk disclosure document containing specified information. In addition, the penny stock rules require that before effecting any transaction in a penny stock not otherwise exempt from those rules, a broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive (i) the purchaser's written acknowledgment of the receipt of a risk disclosure statement; (ii) a written agreement to transactions involving penny stocks; and (iii) a signed and dated copy of a written suitability statement. These disclosure requirements may have the effect of reducing the trading activity in the secondary market for the Common Shares, and therefore stockholders may have difficulty selling the Common Shares.

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***We have broad discretion in how we use the proceeds of this Offering and may not use these proceeds effectively, which could affect our results of operations and cause the price of our Common Shares to decline.***

We will exercise significant discretion in allocating the net proceeds of this Offering. Our intention is to deploy these funds to support our business strategy, which encompasses various initiatives such as technology development, marketing, business expansion, working capital needs, general corporate purposes including recruitment of additional personnel, and covering expenses related to this Offering. Consequently, investors will need to rely on management's judgment, given the limited information available regarding our specific plans for utilizing the remaining net proceeds.

It is possible that we may allocate the net proceeds to purposes that do not generate a substantial return, or any return at all, for our shareholders. Furthermore, until the funds are utilized, we may invest the net proceeds in a manner that does not yield income or may result in a loss of value.

***We do not intend to pay dividends on the Common Shares and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of the Common Shares.***

We have not declared or distributed any cash dividends on our Common Shares to date and do not have any plans to do so in the foreseeable future. Our current intention is to utilize future earnings for the advancement, operations, and growth of our business, and we do not foresee any declaration or distribution of cash dividends in the near future. Consequently, the success of investing in our Common Shares will rely on potential future increases in their value. It is important to note that there is no assurance of appreciation in the value of the Common Shares or maintenance of their purchase price.

***Terms of subsequent financings, if any, may adversely impact investors' investments.***

In the future, we may find it necessary to pursue equity or debt financings. Potential dilution resulting from future equity issuances could diminish the rights and value of each investor's holdings in the Common Shares. Additionally, interest payments on debt securities could escalate costs and potentially impair operating results. Should we require additional equity capital through the issuance of additional stock, institutional or other investors may negotiate terms that are at least as favorable, if not more so, than the terms of existing investors' investments.

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***We determined the offering price for the Common Shares being sold in this Offering.***

The offering price of the Common Shares in this Offering has been determined arbitrarily by the Company. There is no correlation between the offering price and our assets, book value, net worth, or any other established economic criteria of value. Instead, the price of the Common Shares has been established through internal deliberations, taking into consideration factors such as prevailing market conditions, the Company's projected future prospects, and its capital structure. It should be noted that the offering price may not accurately reflect the true value of the Common Shares or the price that may be achieved upon their disposition.

***If an investor purchases Common Shares in this Offering, the investor will incur immediate and substantial dilution in the book value of the Common Shares.***

Each investor will suffer immediate and substantial dilution in the net tangible book value of the Common Shares the investor purchases in this Offering. Assuming an offering price of $2.61 per Common Share and that all 5,747,126 Common Shares are sold for estimated net proceeds of $13,287,000 (after deducting estimated offering expenses and fees), investors purchasing Common Shares in this Offering will experience dilution to approximately $2.46 per Common Share in net tangible book value of the Common Shares. In addition, assuming the Maximum Offering amount is sold in this Offering, investors purchasing Common Shares will contribute over 58.3% of the total amount shareholders have invested in the Company since inception and will own approximately 10.6% of the Common Shares outstanding.

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**DILUTION**

As at the date of this Offering Circular, there are 51,654,830 Common Shares and 904,974 Non-Voting Common Shares issued and outstanding, for a total 52,559,804 Common Share Equivalents issued and outstanding. The price of the Common Shares under this Offering is higher than the average per share value of the Common Shares previously issued. Accordingly, investors who purchase Common Shares in this Offering will incur immediate dilution in the pro forma value of their Common Shares. This means that investors that purchase Common Shares will pay a price per share that exceeds the average per share value of the Company's previously issued Common Shares.

An early-stage company typically sells its shares (or grants options over its shares) to its founders and early employees at a very low cash cost, because they are, in effect, putting their "sweat equity" into the company. When the Company seeks cash investments from outside investors, like you, the new investors typically pay a much larger sum for their shares than the founders, early employees or investors from prior financings, which means that the cash value of your stake is diluted because all the shares are worth the same amount, and you paid more than earlier investors for your shares.

The following table compares the price that new investors are paying for their shares with the effective cash price paid by existing shareholders assuming that the shares are sold at $2.61 per share. The schedule presents shares and pricing as issued and reflects all transactions since inception, which gives investors a better picture of what they will pay for their investment compared to the company's insiders than just including such transactions for the last 12 months, which is what the SEC requires.

The following table presents the approximate effective cash price paid for all shares, Non-Voting Common Shares and shares issuable by the Company upon the exercise of outstanding Stock Options and Warrants as of the date of this filing.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Class of Securities including<br>Non-Voting Common Shares** | **Date Issued** | **Issued<br>Shares** | **Potential<br>Shares** | **Total Issued<br>and Potential<br>Shares** | **Effective<br>Cash Price<br>Per Share** |
| &nbsp;&nbsp;Common Shares | 2021 | 35479821 |  | 35479821 | $0.00 |
| &nbsp;&nbsp;Common Shares <sup>(1)</sup> | 2021 | 8481092 |  | 8481092 | $0.25 |
| &nbsp;&nbsp;Stock Options (Equity Incentive) <sup>(</sup><sup>2)</sup> | 2021-2022 |  | 2525000 | 2525000 | $1.60 |
| &nbsp;&nbsp;Common Shares<sup>(3)</sup> | 2023 | 728579 |  | 728579 | $1.60 |
| &nbsp;&nbsp;Common Shares <sup>(5)</sup> | 2022-2024 | 2101819 |  | 2101819 | $2.00 |
| &nbsp;&nbsp;Common Shares <sup>(6)</sup> | 2024 | 62400 |  | 62400 | $2.00 |
| &nbsp;&nbsp;Common Shares <sup>(7)</sup> | 2024 | 941743 |  | 941743 | $2.12 |
| &nbsp;&nbsp;Common Shares <sup>(8)</sup> | 2024 | 521946 |  | 521946 | $2.12 |
| &nbsp;&nbsp;Warrants <sup>(9)</sup> | 2024 |  | 566483 | 500000 | $2.00 |
| &nbsp;&nbsp;Stock Options (Equity Incentive) <sup>(</sup><sup>11)</sup> | 2023-2026 |  | 2930000 | 600000 | $2.00 |
| &nbsp;&nbsp;Common Shares <sup>(12)</sup> | 2026 | 4053654 |  | 4053654 |  |
| &nbsp;&nbsp;Warrants <sup>(4)</sup> | 2025-2026 |  | 661591 | 661591 | 2.175 |
| &nbsp;&nbsp;Sub - Total Common Share Equivalents |  | 52371054 | 6683074 | 59054128 |  |
| &nbsp;&nbsp;Shares Issued from this Offering<sup>(10)</sup> |  | 188750 |  | 188750 | 2.61 |
| &nbsp;&nbsp;Total Common Share Equivalents |  | 52559804 | 6683074 | 59242878 |  |
| &nbsp;&nbsp;Balance Investors in this Offering |  |  |  |  |  |
| &nbsp;&nbsp;Common Shares <sup>(12)</sup> | 2024-2026 | 5558376 | 0 | 5558376 | $2.61 |
| &nbsp;&nbsp;**Total after inclusion of this Offering**<sup>(13)</sup> |  | 58118180 | 6683074 | 64801254 | $0.48 |

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(1) Accredited investor private placement.

(2) Incentive stock options issued to employees and consultants.

(3) Common Shares issued from the conversion of Convertible Notes.

(4) Warrants issued to Convertible Note holders issued.

(5) Common Shares issued to investors through crowdfunding Regulation A financing from 2022-2023.

(6) Common Shares issued to accredited investors following Regulation A financing close.

(7) Common Shares issued to accredited investors in private financing through DBA Advisors.

(8) Common Shares issued to accredited investors in private financing, including DBA Advisors. (9) Warrants issued to DBA Advisors as part of the accredited investor raise.

(10) Common Shares issued from this offering.

(11) Incentive stock options issued to DBA Advisors.

(12) Common Shares issued to Wisear as part of the business combination acquisition.

(13) Assumes a fully subscribed Offering, excluding any Bonus Shares or shares issued to Primary with respect to this Offering.

The following table illustrates the dilution that new investors will experience upon investment in the Company relative to existing holders of Naqi securities. Because this calculation is based on the net tangible assets of the Company, Naqi is calculating based on its net tangible book value of ($0.10) as of June 30, 2025 on a proforma basis, as included in its financial statements as adjusted for recent capital raises.

The offering costs assumed in the following table includes commissions to DealMaker Securities LLC as well as legal fees, accounting fees, registration fees and other fees incurred for this Offering (see "Offering Costs" below).

The table presents four scenarios for the convenience of the reader: a 100% fully subscribed raise (the "Maximum Offering"), a 75% partially subscribed raise, a 50% partially subscribed raise, and a 25% partially subscribed raise from this Offering.

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Funding Level** | **100% of<br>Raise** | **75% of<br>Raise** | **50% of<br>Raise** | **25% of<br>Raise** |
| &nbsp;&nbsp;Gross Proceeds including Investor Processing Fee | $15525000 | $11643750 | $7762500 | $3881250 |
| &nbsp;&nbsp;Offering Price Per Share | $2.61 | $2.61 | $2.61 | $2.61 |
| &nbsp;&nbsp;Less: Offering Costs <sup>(</sup><sup>1)</sup> | $2238000 | $1728750 | $1219500 | $710250 |
| &nbsp;&nbsp;Net Offering Proceeds | $13287000 | $9915000 | $6543000 | $3171000 |
| &nbsp;&nbsp;Shares Issued <sup>(2)</sup>including Reg A shares issued (188750) | 5747126 | 4310345 | 2873563 | 1436782 |
| &nbsp;&nbsp;Shares Issued and Outstanding as of March 26, 2026<sup>(3)</sup> excluding shares issued for Reg A (188750) | 52371054 | 52371054 | 52371054 | 52371054 |
| &nbsp;&nbsp;Total Post-Financing Shares Issued and Outstanding | 58118180 | 56870149 | 55433367 | 53996586 |
| &nbsp;&nbsp;Proforma Net Tangible Book Value per Common Share before Offering | ($0.10) | ($0.10) | ($0.10) | ($0.10) |
| &nbsp;&nbsp;Increase per Common Share attributable to investors in this Offering | $0.141 | $0.085 | $0.030 | ($0.040) |
| &nbsp;&nbsp;Pro forma Net Tangible Book Value per Common Share after the Offering | $0.241 | $0.185 | $0.130 | $0.06 |
| &nbsp;&nbsp;Dilution to investors after the Offering ($) | $2.47 | $2.53 | $2.58 | $2.65 |
| &nbsp;&nbsp;Dilution to investors after the Offering (%) | 90.44% | 92.42% | 94.82% | 97.34% |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated fees for DealMaker Securities commissions, legal, accounting, EDGARization, additional filings, payment processing and other expenses.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Excludes any Bonus Shares to be issued in the Offering. See "Plan of Distribution" for more information on Bonus Shares.

&nbsp;&nbsp;&nbsp;&nbsp;(3) All totals includes Non-Voting Common Shares of 904,974.

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***Future dilution***

Another important way of looking at dilution is the dilution that happens due to future actions by the Company. The investor's stake in a company could be diluted due to the company issuing additional shares. In other words, when a company issues more shares, the percentage of the company that you own will go down, even though the value of the company may go up. You will own a smaller piece of a larger company. This increase in number of shares outstanding could result from a stock offering (such as an initial public offering, another crowdfunding round, a venture capital round, or an angel investment), employees exercising stock options, or by conversion of certain instruments (e.g. convertible bonds, preferred shares or warrants) into stock.

If the company decides to issue more shares, an investor could experience value dilution, with each share being worth less than before, and control dilution, with the total percentage an investor owns being less than before. There may also be earnings dilution, with a reduction in the amount earned per share (though this typically occurs only if the company offers dividends, and most early-stage companies are unlikely to offer dividends, preferring to invest any earnings into the company).

The type of dilution that hurts early-stage investors most occurs when the company sells more shares in a "down round," meaning at a lower valuation than in earlier offerings. An example of how this might occur is as follows (numbers are for illustrative purposes only):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In June 2022 Jane invests $20,000 for shares that represent 2% of a company valued at $1 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In December 2022 the company is doing very well and sells $5 million in shares to venture capitalists on a valuation (before the new investment) of $10 million. Jane now owns only 1.3% of the company but her stake is worth $200,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In June 2023 the company has run into serious problems, and in order to stay afloat it raises $1 million at a valuation of only $2 million (the "down round"). Jane now owns only 0.89% of the company and her stake is worth only $26,660.

This type of dilution might also happen upon conversion of convertible notes into shares. Typically, the terms of convertible notes issued by early-stage companies provide that in the event of another round of financing, the holders of the convertible notes get to convert their notes into equity at a "discount" to the price paid by the new investors, i.e., they get more shares than the new investors would for the same price. Additionally, convertible notes may have a "price cap" on the conversion price, which effectively acts as a share price ceiling. Either way, the holders of the convertible notes get more shares for their money than new investors. In the event that the financing is a "down round" the holders of the convertible notes will dilute existing equity holders, and even more than the new investors do, because they get more shares for their money. Investors should pay careful attention to the amount of convertible notes that the company has issued (and may issue in the future), and the terms of those notes.

If you are making an investment expecting to own a certain percentage of the company or expecting each share to hold a certain amount of value, it's important to realize how the value of those shares can decrease by actions taken by the company. Dilution can cause drastic changes to the value of each share, ownership percentage, voting control, and earnings per share.

**PLAN OF DISTRIBUTION** **& SELLING SECURITYHOLDERS**

**Plan of Distribution**

The Company is offering up to 5,747,126 Commons Shares, plus up to 1,149,425 additional Common Shares to be issued as Bonus Shares to investors based upon an investor's investment level, and whether the investors is a prior Company investor, or pre-registers under the testing the waters campaign as described in this Offering Circular. Investor receiving the Bonus Shares will effectively receive a discount to our share price. The maximum offering amount is $18,525,000, but the gross amount of cash that would be collected from sales is $15,525,000.

**Agreement with DealMaker Securities, LLC**

DealMaker Securities, LLC, a broker-dealer registered with the Commission and a member of FINRA (the "Broker"), has been engaged to provide the administrative and compliance related functions in connection with this Offering, and as broker-dealer of record. Although this role differs from that of a traditional underwriter in that the Broker does not purchase any securities from the Company with a view to sell such for the Company as part of the distribution of the security, the Broker is a statutory underwriter under Section 2(a)(11) of the Securities Act of 1933. Affiliates of Broker have also been engaged to provide technology services and marketing advisory services, specifically Novation Solutions Inc. O/A DealMaker ("DealMaker") and DealMaker Reach, LLC ("Reach").

Neither the Broker nor its affiliates will receive compensation for the sale or issuance of bonus securities. The aggregate fees payable to the Broker and its affiliates are described below.

**Administrative and Compliance Related Functions**

The Broker will provide administrative and compliance related functions in connection with this Offering, including:

* Reviewing and performing due diligence on the Company and the Company's management and principals and consulting with the Company regarding same;

* Reviewing with the Company on best business practices regarding this raise in light of current market conditions and prior self-directed capital raises;

* Reviewing with the Company on question customization for investor questionnaire, selection of webhosting services, and template for the Offering campaign page;

* Advising us on compliance of marketing material and other communications with the public with applicable legal standards and requirements;

* Providing advice to the Company on preparation and completion of this Offering Circular;

* Assisting the Company in the preparation of state, Commission and FINRA filings related to the Offering;

* Working with Company personnel and counsel in providing information to the extent necessary;

* Reviewing investor information, including identity verification, performing Anti-Money Laundering ("AML") and other compliance background checks, and providing the Company with information on an investor in order for the Company to determine whether to accept such investor into the offering;

* If necessary, discussions with us regarding additional information or clarification on a Company-invited investor;

* Coordinating with third party agents and vendors in connection with performance of services;

* Reviewing each investor's subscription agreement to confirm such investor's participation in the Offering and provide a recommendation to us whether or not to accept the subscription agreement for the investor's participation;

* Contacting and/or notifying us, if needed, to gather additional information or clarification on an investor;

* Providing ongoing advice to us on compliance of marketing material and other communications with the public, including with respect to applicable legal standards and requirements;

* Reviewing with the Company regarding any material changes to the Form 1-A which may require an amended filing; and

* Reviewing third party provider work-product with respect to compliance with applicable rules and regulations.

Such services shall not include providing any investment advice or any investment recommendations to any investor. For these services, we have agreed to pay Broker:

* A one-time $27,500 payment for accountable expenses;

* A cash commission equal to four and one-half percent (4.5%) of each investor's total amount invested in the Offering (including the 3.5% Transaction Fee), not to exceed a maximum of $723,624.95, if fully subscribed.

Broker has not been engaged to assist in the distribution of the Bonus Shares, and will not receive any compensation in connection with the issuance of Bonus Shares.

**Technology Services**

The Company has also engaged DealMaker, an affiliate of Broker, to create and maintain the online subscription processing platform for the Offering.

After the qualification by the Commission of the Offering Statement of which this Offering Circular is a part, this Offering will be conducted using the online subscription processing platform of DealMaker through our website at https://invest.immersed.com, whereby investors will receive, review, execute and deliver subscription agreements electronically as well as make payment of the purchase price through a third party processor by ACH debit transfer, wire transfer or credit card to an account we designate. There is use of an escrow agent and establishment of an escrow account for this Offering. We will hold closings upon the receipt of investors' subscriptions, review buy DealMaker Securities and our acceptance of such subscriptions.

For these services, we have agreed to pay DealMaker:

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* A one-time $5,000 payment and monthly payments of $2,000 for three months (up to $6,000) for accountable expenses; and

* After the Offering commences, $2,000 monthly marketing advisory fee, to a maximum of $18,000.

**Marketing and Advisory Services**

The Company has also engaged Reach, an affiliate of Broker, for certain marketing advisory and consulting services. Reach will consult and advise on the design and messaging on creative assets, website design and implementation, paid media and email campaigns, advise on optimizing the Company's campaign page to track investor progress, and advise on strategic planning, implementation, and execution of Company's capital raise marketing budget.

For these services, we have agreed to pay Reach:

* A one-time $15,000 payment and monthly payments of $11,000 for three months (up to $33,000) for accountable expenses for the provision of marketing consulting services and developing materials with respect to the self-directed electronic roadshow; and

* After the Offering commences, $11,000 monthly marketing advisory fee, to a maximum of $99,000.

For supplemental marketing services, Reach will receive as compensation a maximum of $277,875, which will be requested on a case-by-case basis as the Company requests for the placement of marketing advertisements.

The Administrative and Compliance fees, the Technology Services Fees, and the Marketing and Advisory Services Fees described above will, in aggregate, not exceed $1,177,500.

**Transaction Fee**

In connection with this Offering, Investors will be required to pay a Transaction Fee to the Company at the time of the subscription to help offset transaction costs equal to 3.5% of the subscription price per Share (the "Transaction Fee"). The Transaction Fee will apply in connection with the issuance and sale of new Shares by the Company. The aggregate amount paid by the investors related to the Transaction Fee will be allocated to the Company to offset the Offering costs. The Transaction Fee is subject to the 4.5% commission calculation charged by DealMaker Securities. These expenses are included in the maximum compensation set forth in the table above.

**Commissions, Discounts, Expenses and Fees**

The following table shows the total maximum discounts, commissions, and fees payable to Broker and its affiliates, as well as certain other fees in connection with this Offering by the Company.

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| | | |
|:---|:---|:---|
|  | **Per Share** | **Maximum** |
| &nbsp;&nbsp;Public Offering Price | $2.61 | $15000000 |
| &nbsp;&nbsp;Payment processing fee paid by investors <sup>(1)</sup> | $0.09 | $525000 |
| &nbsp;&nbsp;DealMaker commission paid by the company to DealMaker <sup>(2)</sup> | $0.1216 | $698625 |
| &nbsp;&nbsp;out of pocket expenses paid by the Company <sup>(4)</sup> | $0.0833 | $478875 |
| &nbsp;&nbsp;Proceeds, before expenses, to us | $2.501 | $14347500 |

---

(1) Investors will be required to pay directly to Company a processing fee equal to 3.5% of the investment amount at the time of the investors' subscription. The Offering is being conducted on a best-efforts basis without any minimum target, provided that an investor purchases shares in the amount of the minimum investment, $522 (200 shares). The 3.5% processing fee will not be refunded in any event.

(2) DealMaker Securities LLC will receive commissions paid by the Company of 4.5% of the gross offering proceeds including processing fees.

(4) The Company has also paid $84,000 to Broker and affiliates for out-of-pocket accountable expenses prior to commencing. This fee will be used for the purpose of coordinating filings with regulators and conducting a compliance review of the Company's offering. Any portion of this amount not expended and accounted for will be returned to the Company. After the offering commences the Company will also pay Broker's affiliates $13,000 per month for a maximum of $117,000, plus a budgeted amount of $277,875 in supplementary marketing fees to be used on a case-by-case basis at the discretion of the Company.

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**Procedures for Subscribing**

After the Offering Statement has been qualified by the Commission, the Company will accept tenders of funds to purchase the Shares. The Company may close on investments on a "rolling" basis (so not all investors will receive their shares on the same date). Investors may subscribe by tendering funds via wire, credit or debit card, or ACH only, and checks will not be accepted. Investors will subscribe via the Company's website and investor funds will be processed via DealMaker's integrated payment solutions. Funds will be delivered to the Escrow Agent and held in the Company's escrow account until the Broker has reviewed the proposed subscription, and the Company has accepted the subscription. Funds released to the Company's bank account will be net funds (investment less payment for processing fees and a holdback equivalent to 5.0% for 90 days).

The Company will be responsible for payment processing fees in relation to this Offering, estimated to be approximately 2.0% of the total proceeds. Upon each closing, funds tendered by investors will be made available to the Company for its use.

In order to invest, you will be required to subscribe to the Offering via the Company's website integrating DealMaker's technology and agree to the terms of the offering, Subscription Agreement, and any other relevant exhibits attached thereto.

Investors will be required to complete a subscription agreement in order to invest. The subscription agreement includes a representation by the investor to the effect that, if the investor is not an "accredited investor" as defined under securities law, the investor is investing an amount that does not exceed the greater of 10% of his or her annual income or 10% of their net worth (excluding the investor's principal residence).

Any potential investor will have ample time to review the subscription agreement, along with their counsel, prior to making any final investment decision. Broker will review all subscription agreements completed by the investors. After Broker has completed its review of a subscription agreement for an investment in the Company, and the Company has elected to accept the investor into the offering, the funds may be released to the Company.

The Company maintains the right to accept or reject subscriptions in whole or in part, for any reason or for no reason, including, but not limited to, in the event that an investor fails to provide all necessary information, even after further requests from the Company, in the event an investor fails to provide requested follow up information to complete background checks or fails background checks, and in the event the Company receives oversubscriptions in excess of the Offering Maximum Amount.

**Escrow Agent**

For shares sold through DealMaker Securities, the Company will utilize a third-party escrow account for this offering, and all funds tendered by investors will be held in a segregated account until investor subscriptions are accepted by the Company and reviewed by DealMaker Securities. All subscribers will be instructed to transfer funds by wire, credit or debit card, or ACH transfer which will be placed in the escrow account established for this Offering. We may terminate the Offering at any time for any reason at our sole discretion. Investors should understand that acceptance of their funds into escrow does not necessarily result in their receiving shares; escrowed funds may be returned.

The Escrow Agent is not participating as an underwriter, placement agent or sales agent of this Offering and will not solicit any investments, recommend our securities, distribute this Offering Circular or other offering materials to investors or provide investment advice to any prospective investor, and no communication through any medium, including any website, should be construed as such.

**No Minimum Offering Amount**

The shares being offered will be issued in one or more closings. No minimum number of shares must be sold before a closing can occur. Potential investors should be aware that there can be no assurance that any other funds will be invested in this offering other than their own funds. See "Risk Factors - This offering is being conducted on a "best efforts" basis and does not require a minimum amount to be raised."

**Investors' Tender of Funds**

After the Offering Statement has been qualified by the Commission, we will accept tenders of funds to purchase whole shares. We will conduct multiple closings on investments (so not all investors will receive their shares on the same date). Each time we accept funds transferred from the Escrow Agent is defined as a "Closing." Some of the funds tendered by potential investors will be held by the Escrow Agent and will be transferred to us at each Closing.

**No Selling Shareholders**

No securities are being sold for the account of security holders; all net proceeds of this offering will go to the Company.

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**Perks and Bonus Shares**

**Additional Bonus Shares**

Certain investors in this Offering are eligible to receive Bonus Shares in additional to the Common Shares subscribed for as part of the Offering, effectively discounting the price per share so offered. Those investors will receive, as part of their investment, additional shares for their shares purchased, Bonus Shares, equal to up to 20% (see "Aggregated Bonus Shares" below) of the Common Shares they purchase, depending upon whether they meet other prerequisites, or meet the volume-based entitlements to Bonus Shares described below. In order to receive volume-based entitlements from an investment, investors must submit a single subscription as part of this Offering to meet the minimum volume entitlement requirements. Bonus Shares based on volume entitlements will not be issued if an investor submits multiple subscriptions for Common Shares under this Offering that, when combined, meet the volume entitlement. All entitlements occur when the Offering is completed.

***Loyalty Bonus***

Investors who have previously invested in Naqi Logix or who were registered in the Company's Regulation A offering as qualified on July 26, 2022, but were unable to complete their investment at that time, are eligible to receive a Loyalty Bonus of 5% additional Common Shares as Bonus Shares upon participating in this Offering.

***Reservation Bonus***

If an investor chose to reserve their position during the testing the waters campaign, they would also receive the 5% Reservation Bonus.

***Volume Based Bonus Shares***

**Investors who invest at least $1,000 will receive the following:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2% Bonus Shares

**Investors who invest at least $2,000 will receive the following:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 5% Bonus Shares

**Investors who invest at least $3,000 will receive the following:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 10% Bonus Shares

**Investors who invest at least $5,000 will receive the following:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 15% Bonus Shares

**Investors who invest at least $10,000 will receive the following:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 20% Bonus Shares

**Investors who invest at least $50,000 will receive the following:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 20% Bonus Shares and a private virtual meeting with Naqi inventor, David Segal, our founder and CIO.

**Investors who invest at least $100,000 will receive the following:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 20% Bonus Shares and an exclusive in person meeting with Naqi inventor and CIO, David Segal, with a live product demonstration. Flights/transportation and accommodations will be included.<sup>1</sup>

**Investors who invest at least $250,000 will receive the following:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 20% Bonus Shares and spend a day with Naqi's inventor, David Segal, and CEO with hands-on experience of the Naqi earbud at Harrisburg University's Gaming Lab. Flights/transportation and accommodations will be included.<sup>1</sup>

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*\*\* in order to receive perks from an investment, investors must submit a single subscription under this Offering that meets the minimum entitlement requirement. The amount invested does not include amounts paid directly to DealMaker Securities LLC as part of the 3.5% processing fee. Bonus Shares from entitlements will not be granted if an investor submits multiple subscriptions that, when combined, meet the entitlement requirement. All entitlements occur when the offering is completed. Crowdfunding investments made through a self-directed IRA cannot receive perks due to tax laws. The Internal Revenue Service (IRS) prohibits self-dealing transactions in which the investor receives an immediate, personal financial gain on investments owned by their retirement account. As a result, an investor must refuse those perks because they would be receiving a benefit from their IRA account.*

&nbsp;&nbsp;&nbsp;&nbsp;1. Travel expenses such as flights to and from the destination, as well as accommodation for the visit will be provided to the investor by Naqi Logix.

**Aggregated Bonus Shares**

**Aggregated Bonus Shares**

**The Loyalty Bonus Shares, Reservation Bonus Shares, and Volume Based Bonus Shares may be stacked up to a cumulative maximum of 20% in Bonus Shares.** Therefore, any investor that satisfies the requirements for any Bonus Shares, will receive the maximum aggregate amount of (a) Loyalty Bonus shares if they are prior owners and (b) Reservation Bonus shares if they are reservation holders and (c) Volume-Based Bonus Shares for which they qualify, up to a maximum bonus of 20%.

For example, if an investor invested $2,001.87 (not including the DealMaker Securities processing fee) rather than $522, and had not only reserved shares during TTW, but tried to invest previously, but were unable to complete the subscription, they would qualify for the Reservation, Loyalty, and Volume Based Bonus (which provides for a 5% bonus at that investment amount). In that case, their cumulative bonus would be 5% for the Loyalty Bonus, 5% for the Reservation Bonus and 5% for the Volume Based Bonus, for a total bonus of 15%. Investors receiving the 15% bonus will pay an effective price of approximately $2.27 per share before the DeaMaker Securities processing fee. All Bonus Shares will be issued by calculating the available Bonus Share amount rounded down to the nearest whole share.

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**TAX CONSEQUENCES FOR RECIPIENTS (INCLUDING FEDERAL, STATE, LOCAL AND FOREIGN INCOME WITH RESPECT TO REWARDS AND BONUS ARE THE SOLE RESPONSIBILITY OF THE INVESTOR. INVESTORS MUST CONSULT WITH THEIR OWN PERSONAL ACCOUNTANT(S) AND/OR TAX ADVISOR(S) REGARDING THESE MATTERS.**

**THE COMPANY RESERVES THE RIGHT TO DISCONTINUE ANY OF THE PERKS FOR REGULATORY PURPOSES.**

Rule 3a4-1 under the Exchange Act provides an exemption from the broker-dealer registration requirements of the Exchange Act for persons associated with an issuer who participate in the offer and sale of the issuer's securities. None of the Company's officers or directors are subject to any statutory disqualification, as that term is defined in Section 3(a)(39) of the Exchange Act. None of the Company's officers or directors will be compensated in connection with their participation in this Offering by the payment of commissions or other remuneration based directly or indirectly on transactions in the Company's securities. None of the Company's officers or directors are, or have been within the past 12 months, a broker or dealer, or an associated person of a broker or dealer. At the conclusion of this Offering, the Company's officers and directors will continue to perform substantial duties for the Company otherwise than in connection with transactions in securities. The Company's officers and directors will not participate in selling securities for any other issuer more than once every 12 months other than in reliance on Rule 3a4-1(a)(4)(i) or (iii) under the Exchange Act.

------

**USE OF PROCEEDS TO COMPANY**

If the Maximum Offering is sold, the maximum gross proceeds from the sale of our Common Shares will be $15,525,000. The Company estimates that if it sells the maximum amount of $15,525,000 from the sale of the Common Shares, our net proceeds (after deducting fees and commissions and estimated offering expenses) will be approximately $13,287,000 The estimate of the budget for offering costs is an estimate only and the actual offering costs may differ. We will use these net proceeds for prototyping and manufacturing costs; research and development; sales and marketing, branding; general and administrative costs; legal and compliance; and general working capital. As of the date of this Offering Circular, $427,952 has been raised under this Offering.

As of the date of this Offering Circular, the Company has raised $427,952 under this Offering. Subsequent to June 30, 2025, the Company also raised an aggregate of approximately $1,438,959 through the issuance of convertible promissory notes (the "2025-2026 Convertible Debentures") in private placement transactions conducted between September 2025 and February 2026. The 2025-2026 Convertible Debentures bear simple interest at 10.0% per annum, mature 12 months from the date of issuance, and are convertible into Common Shares at a fixed conversion price of $2.175 per share. In connection with the issuance of the 2025-2026 Convertible Debentures, the Company also issued 661,591 share purchase warrants, each exercisable to acquire one Common Share at a price of $2.175 per share for a period of five years from the date of issuance. These financings have improved the Company's near-term liquidity position but have also increased the Company's fixed debt service obligations and may result in dilution to existing shareholders upon conversion or exercise.

The Company reserves the right to alter the use of proceeds without prior notice to investors, except in circumstances where notice is required by applicable law. Investors should be aware that the Company has broad discretion in the application of net proceeds and that the actual allocation may differ from the estimates set out below based on changes in market conditions, business developments, or other factors.

To account for a varying potential use of funds from the low to high ends of this range, the following table represents management's best estimate of the uses of net proceeds. We provide a summary of the net amount of proceeds net of offering expenses at the maximum raise amount, as well as at the 25%, 50%, 75%, 100% intervals. The planned use of the net proceeds to us at each of these intervals will then be detailed by category, with each category described in detail afterward.

**Use of Proceeds by Interval of Funds Raised**

All figures provided in this table are estimates and are subject to change based on adjustments to our business plan.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | 100% Raise | 75% Raise | 50% Raise | 25% Raise |
| &nbsp;&nbsp;Offering Proceeds (1) | $15525000 | $11643750 | $7762500 | $3881250 |
| &nbsp;&nbsp;Offering Expenses - Platform (2) | $1177500 | $933375 | $689250 | $445125 |
| &nbsp;&nbsp;Offering Expenses - Administrative (3) | $1060500 | $795375 | $530250 | $265125 |
| &nbsp;&nbsp;Total Proceeds Available for Use | $13287000 | $9915000 | $6543000 | $3171000 |
| &nbsp;&nbsp;Prototyping and Manufacturing Costs | $2258790 | $1685548 | $1112310 | $539068 |
| &nbsp;&nbsp;Research & development | $3986100 | $2974500 | $1962900 | $951300 |
| &nbsp;&nbsp;Sales and Marketing, Branding | $1727310 | $1288950 | $850590 | $412230 |
| &nbsp;&nbsp;Legal and Compliance | $664350 | $495750 | $327150 | $158550 |
| &nbsp;&nbsp;General & Administrative Costs | $664350 | $495750 | $327150 | $158550 |
| &nbsp;&nbsp;General Working Capital | $3986100 | $2974500 | $1962900 | $951300 |
| &nbsp;&nbsp;Total Expenditures | $13287000 | $9915000 | $6543000 | $3171000 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes the transaction processing fee of 3.5% "Plan of Distribution".

&nbsp;&nbsp;&nbsp;&nbsp;(2) Fee due to Broker and affiliates for the use of their services.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Administrative and offering fees for legal, accounting and filing expenses, payment processing fee of 2%, etc.

Prototyping and Manufacturing Costs: These funds will be used to produce quantities of Naqi Earbud prototypes for co-innovation relationships with partners and finished products for general distribution or sale.

Research and Development: Ongoing costs for applied research and development for Naqi Earbud in multiple iterations and development of the Naqi Framework.

Sales and Marketing, Branding: Funds for development of sales and marketing material including website, commercial partner ecosystem infrastructure for OEMs, and to build reseller relationships.

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Legal and Compliance: We anticipate our legal and compliance costs to increase, as the Company works with counsel on additional patent filings and maintaining our existing trademarks and patents.

General and Administrative Costs: Included in general and administrative costs would be consulting, wages and salaries and other general office expenses.

General Working Capital: We anticipate our operating or "burn" expenses for the next twelve months to include consulting, wages and salaries, research and development and legal and other professional fees, which we estimate will amount to approximately $350,000 per month in aggregate.

**Disclaimers Regarding Use of Funds**

The intended uses of net proceeds described above represent management's current intentions based on the Company's present financial condition, results of operations, business plans and operating environment. The Company cannot specify with certainty all particular uses for the net proceeds or the precise amounts to be allocated to each use category. The actual amount, allocation and timing of expenditures will depend on numerous factors, including market conditions, the progress of the Company's research and development activities, competitive developments, and the amount actually raised in this Offering. Management will have broad discretion in the application of net proceeds, and investors will be relying on the judgment of management regarding their allocation and use. The Company reserves the right to reallocate net proceeds among the categories described above, or to use them for other purposes, as business conditions warrant, subject to applicable law. **The Company reserves the right to alter the use of proceeds in this Offering without notice, except in circumstances in which such notice is required by law.**

The Company reserves the right to reallocate the use of proceeds without prior notice to investors, except in circumstances where notice is required by applicable law. The Company's business does not presently generate any cash from operations. The Company believes that if the Maximum Offering is fully subscribed, the net proceeds will be sufficient to finance its operations for at least the next twelve months following the closing. However, if the Company raises less than the Maximum Offering amount, or if operating, technology development, marketing or business development costs exceed current estimates, the Company may need to obtain additional financing prior to the end of that twelve-month period. The Company expects that, during or after such twelve-month period, it will be required to raise additional funds to finance its ongoing operations until such time as it is able to generate sustainable revenue from its commercial activities. There is no assurance that such additional financing will be available on acceptable terms or at all.

Pending deployment of the net proceeds in accordance with the uses described above, the Company may invest the net proceeds in capital preservation instruments, including short-term, investment-grade, interest-bearing instruments and United States government securities. The Company may also use a portion of the net proceeds to invest in strategic partnerships or to acquire complementary businesses, products or technologies, although the Company has no present commitments or agreements with respect to any specific acquisition or investment.

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**DESCRIPTION OF BUSINESS**

**Our Group Structure**

The following organization chart indicates the intercorporate relationships of the Company and its significant subsidiaries, together with the jurisdiction of formation, incorporation or continuance of each entity (Wisear Assets & Liabilities SAS ("Wisear") is shown as part of the organization chart as of the date of this filing and was not a subsidiary of the Company as of the fiscal year ended June 30, 2025).

![](form1axu001.jpg)

**Overview of the Company**

Naqi Logix Inc. ("Naqi" or "the Company") was incorporated pursuant to the provisions of the Business Corporations Act (British Columbia) on August 4, 2020. Its corporate office location is 100 Park Royal, Suite 200, West Vancouver, British Columbia, Canada, V7T 1A2.

Naqi Logix Inc. is a neurotechnology company focused on developing a non-invasive human-machine interface platform designed to enable users to control digital systems without the use of their hands, voice, or traditional graphical interfaces. The Company's technology is delivered through wearable devices, currently embodied in a neural earbud form factor, combined with proprietary software and signal-processing technologies.

The Company's platform is designed to capture biosignals and motion data generated by natural facial micro-gestures and head movements and translate those signals into digital commands capable of interacting with computers, mobile devices, robotics, and connected environments. Unlike invasive brain-computer interface technologies that require surgical implantation, Naqi's solution is external to the body and can be worn and removed like a conventional earbud.

The Company's wearable neural interfaces could represent a potential new input modality for interacting with digital systems. By enabling users to issue commands silently and without physical contact with devices, the platform may support a range of applications across accessibility technologies, consumer electronics, computing interfaces, and connected device ecosystems.

Subsequent to the fiscal year ended June 30, 2025, the Company signed a Share Purchase Agreement dated December 30, 2025 (the "Wisear Purchase Agreement") among the Company, Wisear SAS and Wisear providing for the acquisition by the Company of all of the issued and outstanding shares of Wisear not already held by the Company (the "Wisear Acquisition"). This Wisear Acquisition closed on February 2, 2026. Wisear is a neurotechnology company based in France focused on biosignal-based gesture recognition for wearable devices. The Wisear Acquisition expands the Company's intellectual property portfolio and strengthens its capabilities in biosignal acquisition, signal processing, and machine learning technologies relevant to wearable neural interface systems.

The Company's current wearable neural interface platform, as presently contemplated for consumer electronic applications, may not require regulatory clearance. Certain future medical, assistive or other regulated applications of the Company's technology, including potential applications incorporating acquired Wisear technology, may require regulatory approvals depending on intended use and jurisdiction.

**Our Corporate Strategy**

Management continues to pursue a corporate strategy that is focused on engaging with organizations that may contribute to product development, platform validation, and potential integration of the Company's technology into broader digital and device ecosystems and in building and developing our business as a provider of end-to-end solutions to support the development, validation and commercialization of its neural interface platform. Most recently, in furtherance of this strategy, the Company completed the acquisition of Wisear Assets & Liabilities SAS on February 2, 2026, which expanded the Company's intellectual property portfolio and strengthened its capabilities in biosignal acquisition, signal processing, and machine learning. In connection with such strategy and to facilitate our long-term growth, we continue to evaluate various strategic opportunities, including partnerships with original equipment manufacturers ("OEMs"), and providers of complementary technologies and intellectual property ("IP") to further our goals by adding technology, differentiation, customers and/or revenue. We are primarily looking for partnerships that have business value and operational synergies, while remaining opportunistic with respect to other strategic and/or attractive transactions. We believe these complementary technologies will add value to the Company and allow us to provide a comprehensive integrated ecosystem to our customers. In addition, we may seek to expand our capabilities around robotics, accessibility technology, consumer electronics, and emerging human-machine interface systems. Candidates with proven technologies and products that complement our overall strategy may come from anywhere in the world, as long as there are strategic and financial reasons to establish the partnership. We are also exploring opportunities that will supplement our revenue growth, which may include value-enhancing acquisitions that provide business value and operational synergies, as well as other opportunistic or strategic transactions that we believe may increase overall shareholder value. These may include, but are not limited to, alternative investment opportunities, such as minority investments, acquisitions or joint ventures. If we make any acquisitions in the future, we expect that we may pay for such acquisitions using our equity securities and/or cash and debt financings in combinations appropriate for each acquisition.

**Naqi Platform Architecture**

Naqi has developed a hardware-enabled software platform designed to interpret user intent through biosignals captured in and around the ear. The platform currently consists of three primary components:

• the **Naqi Neural Earbud**, a wearable sensing device<br>• the **Naqi Hub**, the software platform that interprets and executes commands<br>• the **Invisible User Interface (IUI)**, a command architecture designed to allow navigation and control without visual interaction

Together, these components form an integrated system intended to allow users to command and control digital environments using subtle physical signals and gestures.

***Naqi Neural Earbud***

The Company's initial wearable implementation of its neural interface platform is an ear-worn device similar in form factor to widely adopted consumer audio earbuds.

The device integrates multiple sensor technologies designed to capture biosignals and motion data, including electromyographic (EMG), electroencephalographic (EEG), and electrocardiographic (ECG) signals, along with inertial measurement units (IMUs) capable of detecting head movement and orientation. These signals may be generated by natural facial micro-gestures such as jaw clenches, eyebrow movements, eye blinks, and other subtle muscle activations.

When combined with the Company's signal-processing algorithms and software environment, these signals may be translated into discrete commands capable of interacting with external digital systems.

***Naqi Hub Software Platform***

The Naqi Hub serves as the primary software environment for processing signals captured by the wearable device and translating them into executable commands.

The software connects to the Naqi Neural Earbud through wireless connectivity and processes biosignals and motion data using the Company's proprietary algorithms. The platform enables command mapping, device integration, and user customization.

Naqi Hub currently supports integration with desktop and mobile computing environments and may interface with connected devices through standard communication protocols and application programming interfaces (APIs). User settings and command configurations may be stored locally or synchronized through cloud-based infrastructure.

***Invisible User Interface***

The Company's proprietary Invisible User Interface ("IUI") is designed to allow users to navigate digital commands without reliance on traditional graphical interfaces or physical controllers.

The interface architecture allows users to access command structures through intentional gestures detected by the wearable device. These gestures activate a navigation environment through which users may select commands using combinations of facial movements, head motion, and other detected signals.

The Company believes this approach may enable users to interact with digital systems in situations where traditional interfaces are impractical, such as when the user's hands are occupied or lack motricity, when voice input is not desirable or practical, or when visual interfaces are unavailable or unwanted.

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**Use Cases**

The Company has demonstrated the ability of its platform to control a range of digital systems including personal computers, mobile devices, smart home systems, and connected hardware such as mobility devices and robotic systems.

The platform is designed to be adaptable to multiple device ecosystems and may be integrated into a variety of wearable products, including head-mounted devices such as augmented reality and virtual reality systems.

Because the system translates physical signals into digital commands that can interact with software interfaces, the Company believes the platform may support a broad set of future applications across accessibility technologies, computing interfaces, gaming platforms, smart environments, and human-AI interactions.

**Research and Development** 

Naqi Logix continues to focus on the development and refinement of its neural interface platform, including both hardware and software components. Research and development activities are directed toward improving signal acquisition, algorithmic interpretation of biosignals, system reliability, and integration with external digital systems. The Company's current development efforts are concentrated in three primary areas: platform development, ecosystem integration, and commercialization readiness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) ***Platform Development*****:**

The Company's research and development activities are centered on advancing the core components of the Naqi platform, including the Naqi Neural Earbud wearable device, the Naqi Hub software environment, and the Company's Invisible User Interface architecture.

Development work includes improving the ability of the system to capture and interpret biosignals and motion data generated by subtle facial micro-gestures and head movements. Because these signals are often low amplitude and may occur alongside normal activities such as speaking, chewing, or natural facial movement, a significant portion of development efforts is directed toward signal processing, machine learning, and artificial intelligence (AI) techniques designed to improve accuracy and reliability.

The Company's algorithms are designed to detect and classify micro-gestural inputs, distinguish intentional commands from background activity, and adapt to individual users over time. This work includes developing scalable models capable of learning from diverse user data sets and refining gesture recognition through iterative training and testing.

In parallel with software development, the Company continues to refine the hardware design of its wearable neural earbud platform, including sensor configuration, signal acquisition methods, and system ergonomics. Ongoing engineering efforts are also focused on improving the performance and functionality of the Naqi Hub software and the Invisible User Interface architecture.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) ***Platform Integration and Ecosystem Development***

The Company's platform architecture is designed to support integration with a wide range of digital devices and software environments. As part of its development efforts, the Company is expanding its application programming interface ("API") and related software tools to enable third-party developers and device manufacturers to integrate their products with the Naqi platform.

The Company believes that enabling external developers to build integrations may expand the range of potential applications for the platform across computing environments, accessibility technologies, gaming platforms, and connected device ecosystems. While the Company expects to develop certain foundational integrations internally, such as those related to desktop computing, mobile devices, and selected accessibility applications, future integrations may also be developed by partners or third-party developers using the Company's software interfaces.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) ***Commercialization and Product Readiness*** 

In parallel with technical development, the Company is engaged in activities intended to support the future commercialization of the Naqi platform. These efforts include product engineering, usability testing, developer engagement, and collaboration with potential product partners.

The Company anticipates continuing to work with selected development partners, testers, and integration partners to refine product functionality and ensure that the platform can be deployed in a manner that is reliable and user-friendly across a range of potential use cases.

The timing and scope of commercialization will depend on continued technical development, product validation, manufacturing readiness, and market engagement activities.

**Wisear Acquisition and Technology**

Subsequent to the fiscal year ended June 30, 2025, the Company entered into the Wisear Purchase Agreement and closed the Wisear Acquisition on February 2, 2026. Wisear is, a neurotechnology company based in France focused on biosignal-based gesture recognition for wearable devices. The Company acquired Wisear for a base purchase price of US$11,770,000, subject to customary adjustments, satisfied through the issuance of voting common stock of the Company, at an issue price of US$2.40 per share (the "Consideration Shares"). 1,600,671 of the Consideration Shares will vest over two years following the Wisear Acquisition contingent on the continued employment or services of the Wisear team. The Wisear Acquisition follows approximately 11 months of working with Wisear under a Technology License and Services Agreement dated February 12, 2025 ("the License Agreement") with Wisear, under which the Company exclusively licensed Wisear's technology and was provided personnel and services to support the development of the Company's neural interface platform.

Wisear's technology is centered on detecting bioelectric signals generated by subtle facial muscle activity and translating those signals into digital commands capable of interacting with electronic devices. The acquired intellectual property includes patent families directed toward gesture detection systems for personal head-worn devices and methods for simultaneous sub-Nyquist acquisition of multiple bioelectric signals. These technologies relate to signal acquisition, compression, and interpretation techniques designed for wearable neural interface systems.

Through the Wisear Acquisition, the Company has integrated certain elements of the Wisear technology portfolio into its broader neural interface platform strategy. The Company expects that these intellectual property assets may support ongoing research and development efforts related to biosignal acquisition, machine learning-based gesture recognition, and wearable human-machine interface systems.

**Our Market**

Naqi Logix is developing a non-invasive neural interface platform designed to enable users to control digital systems without the use of their hands, voice, or traditional graphical interfaces. The Company believes that technologies enabling alternative input methods may become increasingly relevant as computing environments evolve toward more wearable, immersive, and connected device ecosystems.

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The Company's platform is designed to capture biosignals and motion data generated by subtle facial micro-gestures and head movements and translate those signals into digital commands. As a result, the Company's technology, including any potential applications incorporating acquired Wisear technology, may have potential use cases and applications across several existing and emerging markets that rely on human-machine interaction.

***Assistive Technology***

The Company's first targeted application for its platform will be assistive input for those with limited to no hand and arm motricity. Individuals with mobility impairments or limited use of their hands may benefit from alternative methods for interacting with computers, communication systems, mobility devices, and other connected technologies.

According to industry research, the global assistive technology market was valued at approximately $48 billion in 2023 and is projected to grow at an estimated compounded annual growth rate (CAGR) of approximately 7%, potentially reaching $87 billion by 2030. These solutions include a wide range of technologies intended to support individuals with physical, sensory, or cognitive impairments.

***Wearable Technology***

Naqi's neural interface technology is currently implemented in a wearable earbud form factor similar to widely adopted consumer audio devices. As such, the Company believes its platform may align with the broader wearable technology market, which includes smart watches, fitness trackers, health monitoring devices, and other connected wearable electronics.

The global wearable technology market was valued at approximately $128 billion in 2023 and is projected by certain industry analyses to reach approximately $316 billion by 2030, reflecting continued adoption of wearable computing devices and sensor-based technologies.

***Augmented and Virtual Reality***

Emerging computing environments such as augmented reality ("AR") and virtual reality ("VR") systems may benefit from alternative input mechanisms that do not rely on handheld controllers or traditional interfaces. The Company believes wearable neural interfaces could potentially provide complementary control mechanisms for these environments.

Industry research estimates that the global AR and VR market was valued at approximately $75 billion in 2025 and is projected to grow at a compounded annual growth rate (CAGR) of approximately 34%, potentially reaching $693 billion by 2030.

***Gaming and Interactive Entertainment***

The Company's platform may also have potential applications within gaming and interactive entertainment environments where users seek new interaction modalities beyond traditional controllers, keyboards, or touch interfaces.

The global gaming and esports market was estimated at approximately $298 billion in 2024 and has been projected by certain industry research firms to reach approximately $505 billion by 2030, reflecting continued growth in interactive digital entertainment.

***Emerging Human-Machine Interface Markets***

More broadly, the Company believes that neural and biosignal-based interfaces represent a developing category within human-machine interaction technologies. As computing environments expand beyond traditional desktop and mobile interfaces into wearable devices, connected environments, and immersive computing systems, alternative input methods may become increasingly important.

The Company's strategy is to develop a platform capable of interacting with multiple device ecosystems rather than targeting a single vertical market. As a result, the potential commercial applications for the platform may extend across accessibility technologies, consumer electronics, computing interfaces, and connected device environments.

References:

* **Assistive Technologies Market:** It was worth $48 billion in 2023 and is growing by roughly 7% annually, with an expectation that it will hit $87 billion in 2030. <sup>(1)</sup>

* **Wearable Technologies Market:** In 2023, it was valued at $128 billion, and it's expected to grow even faster than assistive tech at 12% CAGR to $316 billion by 2030.<sup>(2)</sup>

* **Augmented Reality/Virtual Reality Market:** It was worth $75 billion in 2025 and is growing by roughly 34% annually, with an expectation that it will hit $693 billion in 2035.<sup>(3)</sup>

* **Gaming & E-Sports Market:** Valued at $298 billion in 2024 and expected to reach $505 billion with 8.7% CAGR.<sup>(4)</sup>

&nbsp;&nbsp;&nbsp;&nbsp;(1) Yahoo Finance. Disabled and Elderly Assistive Technology Market Research Report 2023 - Global Industry Analysis, Trends, Market Size, and Forecasts 2021-2030. <u>https://finance.yahoo.com/news/disabled-elderly-assistive-technology-market-151300911.html</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Yahoo Finance. Wearable Technology Market Size to Hit $316.26 Billion by 2030 \| Exclusive Report by Coherent Market Insights <u>https://finance.yahoo.com/news/wearable-technology-market-size-hit-115000645.html</u>

&nbsp;&nbsp;&nbsp;&nbsp;(3) Precedence Research. Augmented Reality and Virtual Reality Market Size - Global Industry, Share, Analysis, Trends and Forecast 2025 - 2035. <u>https://www.precedenceresearch.com/augmented-reality-and-virtual-reality-market#:~:text=The%20global%20augmented%20reality%20and,24.87%25%20from%202026%20to%202035</u>.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Grandview Research. Global Gaming Market Size & Outlook, 2025-2030 <u>https://www.grandviewresearch.com/horizon/outlook/gaming-market-size/global</u>

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**Business Development**

***License and Technology Collaboration***

On February 12, 2025, the Company entered into the License Agreement with Wisear to access certain biosignal-processing technologies and related engineering services relevant to the development of the Company's neural interface platform. Under the terms of the License Agreement, Wisear granted the Company a worldwide, fully paid-up, royalty-free, sublicensable, transferable, perpetual, irrevocable, and exclusive license (including exclusivity with respect to Wisear, subject to limited service-related exceptions) to use, reproduce, modify, distribute, and otherwise exploit Wisear's licensed technology within the defined field of use in connection with the Company's products and services. In consideration for these rights and related development services, the Company agreed to pay Wisear license fees of $20,000 per month and approximately $100,000 per month for the Wisear team through a supply agreement during the term of the License Agreement. The License Agreement also required Wisear to provide the Company with complete copies of the licensed technology and related materials to support integration and development activities. Following this collaboration period, in February 2026, the Company completed the acquisition of Wisear and its associated intellectual property portfolio, and the licensed technologies became part of the Company's broader neural interface platform and intellectual property assets.

***Robotics and Assistive Technology Collaboration***

The Company has engaged with Kinova Robotics, a developer of advanced robotic arms and assistive robotic systems, to explore potential applications of the Naqi neural interface platform in robotic control environments.

Kinova's robotic systems are widely used in research institutions, accessibility applications, and industrial environments where precise robotic manipulation and assistive technologies are required. As part of this engagement, the Company has demonstrated the ability of its neural interface platform to control robotic systems using biosignals and motion data captured through the Company's wearable device.

These demonstrations are intended to evaluate the feasibility of enabling hands-free and voice-free robotic control through the Company's platform. Such capabilities may have potential applications in assistive technologies for individuals with mobility impairments, as well as in research and industrial environments where alternative human-machine interaction methods may be beneficial.

The Company believes robotics control represents one of several potential application areas for its neural interface platform, though the scope and timing of any commercial deployment remain subject to continued development and collaboration.

***Industry and Ecosystem Engagement***

The Company continues to engage with participants across accessibility technologies, social media, gaming, consumer electronics, and emerging human-machine interface sectors to explore potential integration opportunities for its platform.

Naqi's system architecture is designed to support integration with external hardware and software platforms through application programming interfaces (APIs) and related software development tools. These capabilities may allow device manufacturers and software developers to integrate their products with the Company's wearable interface platform.

***Technology Demonstrations and Market Engagement***

Naqi Logix regularly participates in industry events, product demonstrations, and technical discussions intended to showcase the capabilities of its neural interface technology and gather feedback from potential partners, developers, and users.

These demonstrations have included examples of controlling computing systems, connected devices, and assistive technologies using the Company's wearable neural interface platform.

***Strategic Relationship Development***

The Company expects to continue pursuing strategic relationships with organizations that may contribute to the development, validation, and potential commercialization of its technology. These relationships may include development collaborations, evaluation programs, integration partnerships, and licensing discussions.

While the Company engages in ongoing discussions with a range of organizations, many of these discussions remain exploratory in nature and may or may not result in formal agreements.

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**Awards & Accomplishments** 

Since its inception, Naqi Logix has received recognition from industry organizations, technology media, and innovation award programs for its work developing non-invasive neural interface technology. These recognitions have generally focused on the Company's development of wearable neural interface systems designed to enable hands-free and voice-free control of digital devices.

The Company's neural earbud platform has been recognized by several global technology and innovation programs, including TIME magazine's "Best Inventions of 2023," which highlighted technologies considered to have the potential to make a meaningful impact across industries and society. The Company has also received recognition through multiple CES Innovation Awards.

In addition, the Company has been recognized through the Edison Awards, where its technology received Gold Medal honors (Social & Cultural Impact.) The Edison Awards program recognizes innovations across multiple industries and is judged by a panel that includes senior business executives, academics, and industry experts.

The Company's technology has also been recognized by industry publications and technology media covering emerging human-machine interface technologies and assistive technology solutions. Naqi Logix has been featured in articles and discussions across technology and innovation media outlets that report on developments in neural interfaces, wearable computing, and accessibility technologies.

An example of the Company's recognition by leading publications would include the feature by Inc. magazine, which highlighted Naqi Logix and its development of non-invasive neural interface technology. The feature discussed the Company's neural earbud platform and its potential to enable hands-free interaction with computers and connected devices through the interpretation of biosignals generated by subtle facial movements. Inc. is a widely recognized publication covering entrepreneurship, emerging technologies, and high-growth companies. The article discussed the journey leading up to the Company's inception as well as the Company's efforts to develop wearable neural interface systems that may support applications across accessibility technologies, computing interfaces, and connected device environments.

In addition to media coverage and industry recognition, the Company has received industry awards voted on by technology retailers and industry professionals, including recognition through the TWICE VIP Awards, which highlight innovative consumer technology products as evaluated by participants across the consumer electronics industry.

Collectively, these recognitions reflect the Company's participation in the emerging field of non-invasive neural interfaces and wearable human-machine interaction technologies.

As of the date of this Offering Circular, Naqi has the Company has received the following accolades and industry awards:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• TIME's "The 200 Best Inventions of 2023"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2024 Edison Gold Award

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2024 CES Innovation Honoree

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2024 CES TWICE Picks™ Award

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2024 USA TODAY/Reviewed™ AccessABILITY Award

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2024 Fast Company's annual list of "World-Changing Ideas"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2024 Twice VIP Award

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2024 INC Magazine feature

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2025 CES Innovation Honoree

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2025 TWICE VIP Innovation Award

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2026 CES Best of Innovation Award

**Competition**

The markets for human-computer interfaces, wearable technology, neural sensing systems, and assistive input technologies are highly competitive and rapidly evolving. The Company operates within a developing ecosystem of technologies designed to enable more natural interaction between humans and digital systems.

Because the Company's technology spans multiple emerging categories, it competes with a range of companies developing alternative approaches to device control, neural interfaces, and wearable sensing platforms.

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**Neural and Biosignal-Based Interfaces**

Several companies are developing systems that interpret biosignals or neural activity to enable device interaction. These systems typically rely on technologies such as electromyography (EMG), electroencephalography (EEG), or other physiological sensing methods to translate user intent into commands for digital devices.

For example, Meta Platforms, Inc. has publicly disclosed development of wrist-based electromyography interfaces designed to interpret neural signals from the forearm to control computing systems. Other companies and research organizations are exploring ear-based biosignal sensing, neural wearables, and related technologies.

**Implantable Brain-Computer Interface Systems**

Certain companies are pursuing implantable brain-computer interface (BCI) technologies intended to read neural signals directly from the brain. These systems generally require surgical implantation and are currently focused primarily on clinical or research applications.

Companies pursuing implantable BCI technologies include Neuralink Corporation, Synchron Inc., and Blackrock Neurotech. While these technologies differ significantly from the Company's non-invasive approach, they represent alternative long-term pathways for enabling neural interaction with computers and connected devices.

**Consumer Electronics and Wearable Platforms**

Major consumer electronics companies continue to expand the capabilities of wearable devices, including earbuds, smart glasses, and other sensor-enabled devices. Companies such as Apple Inc., Samsung Electronics, Google LLC, and Sony Group Corporation have significant resources devoted to wearable computing platforms and could potentially develop alternative user interface technologies or integrate competing sensing capabilities into future devices.

These companies possess substantial financial resources, global manufacturing capabilities, established distribution channels, and large developer ecosystems, which may enable them to introduce competing technologies.

**Assistive Technology and Alternative Input Systems**

The Company's technology also intersects with the assistive technology market, where various solutions enable individuals to interact with computers and devices without traditional input methods.

Companies developing alternative accessibility solutions include manufacturers of eye-tracking systems, adaptive switches, voice-driven control systems, and specialized controllers. These technologies may compete with the Company's platform in certain accessibility use cases.

**Competitive Factors**

Competition within these markets is influenced by several factors, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Signal accuracy and reliability

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ease of use and user comfort

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Integration with software platforms and connected devices

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Power efficiency and miniaturization

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Intellectual property portfolios

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Manufacturing scalability and cost

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Regulatory requirements in medical or assistive applications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Distribution channels and ecosystem partnerships

Many existing and potential competitors possess greater financial, technical, manufacturing, and marketing resources than the Company.

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**Competitive Positioning**

The Company's neural earbud platform is designed to enable hands-free, silent interaction with digital systems through non-invasive sensing technologies positioned within the ear. While the Company believes this approach represents a differentiated method for capturing user intent signals, competing technologies may emerge that provide similar or alternative capabilities.

There can be no assurance that the Company will be able to compete successfully against existing or future competitors or that competing technologies will not achieve broader adoption.

 *IDUN Technologies*

IDUN Technologies is a Swiss neurotechnology company developing in-ear electroencephalography (EEG) earbuds designed to capture brain activity in a compact, consumer-style "hearable" form factor. Its flagship product, the IDUN Guardian, integrates dry EEG electrodes into earbuds that can measure neural signals, eye movement, and muscle activity, enabling applications such as sleep monitoring, cognitive workload tracking, and neurofeedback. The company also provides a software and cloud platform that allows developers and researchers to access and analyze neural data captured by the earbuds.

*NextSense*

NextSense is a U.S.-based neurotechnology company developing EEG-enabled wireless earbuds designed primarily for sleep monitoring and optimization. Its Smartbuds incorporate multiple clinical-grade EEG sensors that detect brainwave activity in real time, enabling the system to identify sleep stages and deliver precisely timed audio stimulation intended to enhance deep sleep and recovery. The company's platform combines neural sensing hardware with machine-learning algorithms and a mobile application to provide personalized sleep insights and interventions.

*AAVAA*

Founded in 2019 in Montréal, Canada, AAVAA is a startup company that utilizes brain-computer interface, artificial intelligence, and acoustic technologies to allow users to focus their audio enhancement devices on the sounds they want to hear by paying attention to them. Their audio processing software simultaneously enhances those attended sounds and suppresses background noise. The platform can be implemented in different form factors, such as in-ear earbuds, headphones, and AR/VR sets.

*Neuralink*

Founded in 2016 in San Francisco by Elon Musk, Neuralink is a neurotechnology company developing implantable brain-machine interfaces. It uses a robotic "sewing machine-like" device to implant very thin conductive threads into the brain and demonstrates a system that reads information from a lab rat via 1,500 electrodes. In April 2021, Neuralink demonstrated a monkey playing the game "Pong" using the Neuralink implant. Neuralink is valued at over $9 billion USD.<sup>(5)</sup> In the first quarter of 2024, Neuralink implanted its device into their first human recipient, demonstrating the ability to play games like chess and "Civilization" in a hands-free and voice-free manner. Neuralink is going down a Food and Drug Administration ("FDA") pathway as a medical device.

TechCrunch: <u>https://techcrunch.com/2025/05/28/elon-musks-neuralink-raises-600m-at-9b-valuation/</u>

For a description of risks related to competition, see *"Risk Factors - Risks Related to our Business and Industry."* 

**Product Development Partners**

Naqi Logix engages a network of external product development partners that support the design, engineering, and prototyping of components used within the Company's neural interface platform. These partners provide specialized expertise across hardware engineering, firmware development, software development, and industrial design functions that complement the Company's internal research and development activities.

Certain partners located in India provide engineering services related to the design and development of the internal printed circuit board architecture of the Company's neural earbud platform. These services include hardware design, firmware development, embedded systems engineering, and related software development. These partners also assist with industrial and mechanical design activities associated with the earbud form factor, including vendor coordination and consultation related to sensor integration and fabrication for bioelectric signal acquisition technologies, such as electromyography (EMG) and electroencephalography (EEG).

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The Company also engages North American development partners that provide software engineering and system architecture support for the Naqi platform. These services include development of platform software components, application programming interfaces (APIs), software development kits (SDKs), and consultation related to wireless communications, and Internet-of-Things (IoT) connectivity.

In addition, the Company has engaged contract manufacturing partners in North America to assist with the development and fabrication of prototype hardware units used in internal testing, research activities, and product development collaborations.

The Company believes that leveraging specialized external partners enables it to access technical capabilities across multiple disciplines while maintaining flexibility in its product development process. At present, the Company's business is not substantially dependent on any single product development partner, and the Company retains ownership of the intellectual property developed as part of its platform architecture.

**Intellectual Property**

Naqi Logix maintains a robust and expanding intellectual property portfolio designed to support the long-term commercialization of its neural interface platform. The Company's patents and patent applications protect core technologies related to non-invasive neural signal acquisition, biosignal processing, gesture-based command detection, and wearable neural interface systems.

As of the date of filing this Offering Circular, the Company's intellectual property portfolio includes issued and pending patents across multiple jurisdictions. These patents cover foundational aspects of Naqi's neural earbud platform, including methods and systems for detecting micro-gestural intent through biosignals measured in and around the ear, signal processing techniques for interpreting those signals, and architectures enabling silent, hands-free control of computers, connected devices, and robotic systems.

In addition to internally developed intellectual property, the Company has acquired patent families originally developed by Wisear, a French neurotechnology company focused on biosignal-based gesture detection in ear-worn devices. These patent families include filings directed toward gesture detection systems for personal head-worn devices and techniques for the simultaneous sub-Nyquist acquisition of multiple bioelectric signals. The Wisear portfolio includes issued and pending patents in several jurisdictions, including the United States, Europe, and China, and complements Naqi's internally developed technologies by strengthening protection around biosignal acquisition, signal compression, and wearable neural interface architectures.

Together, Naqi's internally developed patents (30 issued) and the acquired Wisear patents (2 issued) form a layered intellectual property position spanning signal acquisition, machine learning interpretation, wearable device architectures, and user interface control systems. The Company believes this portfolio provides a strong foundation for future product development, strategic partnerships, and licensing opportunities within the emerging market for non-invasive human-machine interfaces.

The following is a summary of patents held in connection with the Naqi Earbud technologies.

PATENT FAMILY: SYSTEM AND METHODS FOR USING IMAGINED DIRECTIONS TO DEFINE AN ACTION, FUNCTION OR EXECUTION FOR NON-TACTILE DEVICES

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**COUNTRY** | &nbsp;&nbsp;**FILING DATE** | &nbsp;&nbsp;**SERIAL NUMBER** | &nbsp;&nbsp;**ISSUE DATE** | &nbsp;&nbsp;**PATENT NUMBER** | &nbsp;&nbsp;**STATUS** |
| &nbsp;&nbsp;United States | &nbsp;&nbsp;6/4/2014 | &nbsp;&nbsp;14295733 | &nbsp;&nbsp;8/2/2016 | &nbsp;&nbsp;9405366 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;Europe | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;18210066.9 | &nbsp;&nbsp;8/5/2020 | &nbsp;&nbsp;3467625 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;Europe | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;14187255.6 | &nbsp;&nbsp;12/5/2018 | &nbsp;&nbsp;2857935 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;Israel | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;234924 | &nbsp;&nbsp;3/1/2018 | &nbsp;&nbsp;234924 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;Germany | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;14187255.6 | &nbsp;&nbsp;12/5/2018 | &nbsp;&nbsp;2857935 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;France | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;14187255.6 | &nbsp;&nbsp;12/5/2018 | &nbsp;&nbsp;2857935 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;14187255.6 | &nbsp;&nbsp;12/5/2018 | &nbsp;&nbsp;2857935 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;United States | &nbsp;&nbsp;6/20/2016 | &nbsp;&nbsp;15/186,910 | &nbsp;&nbsp;11/13/2018 | &nbsp;&nbsp;10126816 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;United States | &nbsp;&nbsp;9/26/2018 | &nbsp;&nbsp;16/142,279 | &nbsp;&nbsp;10/20/2020 | &nbsp;&nbsp;10809803 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;United States | &nbsp;&nbsp;10/19/2020 | &nbsp;&nbsp;17/073,717 | &nbsp;&nbsp;2/22/2022 | &nbsp;&nbsp;11256330 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;United States | &nbsp;&nbsp;2/18/2022 | &nbsp;&nbsp;17/675,232 | &nbsp;&nbsp;5/28/2024 | &nbsp;&nbsp;US11995234B2 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;19130623.2 | &nbsp;&nbsp;2/19/2021 | &nbsp;&nbsp;HK40007483 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;France | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;18210066.9 | &nbsp;&nbsp;8/5/2020 | &nbsp;&nbsp;3467625 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;Germany | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;602014068798.9 | &nbsp;&nbsp;8/5/2020 | &nbsp;&nbsp;3467625 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;10/1/2014 | &nbsp;&nbsp;18210066.9 | &nbsp;&nbsp;8/5/2020 | &nbsp;&nbsp;3467625 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;1/22/2018 | &nbsp;&nbsp;42024087811.6 | &nbsp;&nbsp;11/21/2025 | &nbsp;&nbsp;HK40099896 | &nbsp;&nbsp;Issued |
|  |  |  |  | &nbsp;&nbsp;**Total Issued** | &nbsp;&nbsp;**16** |

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PATENT FAMILY: APPARATUS, METHODS AND SYSTEMS FOR USING IMAGINED DIRECTIONS, ACTIONS, FUNCTIONS OR EXECUTIONS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **COUNTRY** | &nbsp;&nbsp; **FILING DATE** | &nbsp;&nbsp; **SERIAL NUMBER** | &nbsp;&nbsp; **ISSUE DATE** | &nbsp;&nbsp; **PATENT<br>NUMBER** | &nbsp;&nbsp; **STATUS** |
| &nbsp;&nbsp; United States | &nbsp;&nbsp; 1/22/2018 | &nbsp;&nbsp; 15/877,206 | &nbsp;&nbsp; 4/30/2019 | &nbsp;&nbsp; 10275027 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; India | &nbsp;&nbsp; 1/22/2018 | &nbsp;&nbsp; 201917029654 | &nbsp;&nbsp; 5/8/2023 | &nbsp;&nbsp; 431187 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; Europe | &nbsp;&nbsp; 1/22/2018 | &nbsp;&nbsp; 18741177.2 | &nbsp;&nbsp; 8/30/2023 | &nbsp;&nbsp; EP3570740 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; Hong Kong | &nbsp;&nbsp; 1/22/2018 | &nbsp;&nbsp; 62020007447.9 | &nbsp;&nbsp; 2/19/2021 | &nbsp;&nbsp; HK40007483 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; United States | &nbsp;&nbsp; 3/18/2019 | &nbsp;&nbsp; 16/356,701 | &nbsp;&nbsp; 3/31/2020 | &nbsp;&nbsp; 10606354 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; Hong Kong | &nbsp;&nbsp; 10/9/2019 | &nbsp;&nbsp; 19130623.2 | &nbsp;&nbsp; 2/19/2021 | &nbsp;&nbsp; 40007483 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; United States | &nbsp;&nbsp; 3/30/2020 | &nbsp;&nbsp; 16/834,085 | &nbsp;&nbsp; 12/15/2020 | &nbsp;&nbsp; 10866639 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; Hong Kong | &nbsp;&nbsp; 5/13/2020 | &nbsp;&nbsp; 62020007448 | &nbsp;&nbsp; 11/24/2023 | &nbsp;&nbsp; HK40017860 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; United States | &nbsp;&nbsp; 12/8/2020 | &nbsp;&nbsp; 17/114,737 | &nbsp;&nbsp; 5/17/2022 | &nbsp;&nbsp; 11334158 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; United States | &nbsp;&nbsp; 5/16/2022 | &nbsp;&nbsp; 17/663,519 | &nbsp;&nbsp; 10/3/2023 | &nbsp;&nbsp; 11775068 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; United States | &nbsp;&nbsp; 9/8/2023 | &nbsp;&nbsp; 18/243,700 | &nbsp;&nbsp; 11/19/2024 | &nbsp;&nbsp; 12147602 | &nbsp;&nbsp; Issued |
| &nbsp;&nbsp; Europe | &nbsp;&nbsp; 1/18/2018 | &nbsp;&nbsp; 23186368.9 | &nbsp;&nbsp; 8/21/2025 | &nbsp;&nbsp; EP4250069 | &nbsp;&nbsp; Issued |
|  |  |  |  | &nbsp;&nbsp; **Total Issued** | &nbsp;&nbsp; **12** |

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PATENT FAMILY: EARBUD SENSOR ASSEMBLY

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**COUNTRY** | &nbsp;&nbsp;**FILING DATE** | &nbsp;&nbsp;**SERIAL NUMBER** | &nbsp;&nbsp;**ISSUE DATE** | &nbsp;&nbsp;**PATENT NUMBER** | &nbsp;&nbsp;**STATUS** |
| &nbsp;&nbsp;United States | &nbsp;&nbsp;3/16/2023 | &nbsp;&nbsp;18/178,968 | &nbsp;&nbsp;6/11/2024 | &nbsp;&nbsp;12008163 | &nbsp;&nbsp;Issued |
| &nbsp;&nbsp;United States | &nbsp;&nbsp;6/10/2024 | &nbsp;&nbsp;18/738,278 | &nbsp;&nbsp;5/20/2025 | &nbsp;&nbsp;12307014 | &nbsp;&nbsp;Issued |
|  |  |  |  | &nbsp;&nbsp;**Total Issued** | &nbsp;&nbsp;**2** |

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PATENT FAMILY: GESTURE DETECTION SYSTEM FOR PERSONAL HEAD WEARABLE DEVICE

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **COUNTRY** | &nbsp;&nbsp; **FILING DATE** | &nbsp;&nbsp; **SERIAL NUMBER** | &nbsp;&nbsp; **ISSUE DATE** | &nbsp;&nbsp; **PATENT NUMBER** | &nbsp;&nbsp; **STATUS** |
| &nbsp;&nbsp; United States | &nbsp;&nbsp; 5/20/2022 | &nbsp;&nbsp; 17/748,728 | &nbsp;&nbsp; 11/8/2022 | &nbsp;&nbsp; US11494001B2 | &nbsp;&nbsp; Issued |
|  |  |  |  | &nbsp;&nbsp; **Total Issued** | &nbsp;&nbsp; **1** |

---

PATENT FAMILY: SIMULTANEOUS SUB-NYQUIST ACQUISITIONS OF A PLURALITY OF BIOELECTRIC SIGNALS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**COUNTRY** | &nbsp;&nbsp;**FILING DATE** | &nbsp;&nbsp;**SERIAL NUMBER** | &nbsp;&nbsp;**ISSUE DATE** | &nbsp;&nbsp;**PATENT NUMBER** | &nbsp;&nbsp;**STATUS** |
| &nbsp;&nbsp;United States | &nbsp;&nbsp;12/16/2022 | &nbsp;&nbsp;US 17/998,706 | &nbsp;&nbsp;7/25/2023 | &nbsp;&nbsp;US11707233B1 | &nbsp;&nbsp;Issued |
|  |  |  |  | &nbsp;&nbsp;**Total Issued** | &nbsp;&nbsp;**1** |

---

We have filed trademarks and intend to file trademarks for the following marks, symbols and logos:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "NAQI": Canada (#2104471 5/4/2021), USA (#97107612, 11/3/2021 Priority 5/4/2021), World Intellectual Property Organization ("WIPO") trademark to be filed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "NAQI LOGIX": Canada (#2104470 5/4/2021), USA (#97107620, 11/3/2021 Priority 5/4/201), WIPO (Madrid System) includes countries Australia, Brazil, China, EU, India, Japan, Korea, Malaysia, Norway, Russia, Singapore, Switzerland, UK;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "COMMAND YOUR WORLD": Canada (2104472, 5/4/2021), USA (#97107626, 11/3/2021 Priority 5/4/2021), WIPO trademark to be filed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Naqi Logo": (Canada #2104469, 5/4/2021), USA (#97107636, 11/3/2021 Priority 5/4/2021), WIPO trademark to be filed.

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**Employees / Consultants**

Prior to the Wisear Acquisition and as of the fiscal year ended June 30, 2025, our direct personnel consisted of three full-time employees, and eight part-time consultants. As of the date of this Offering Circular the Company completed the Wisear Acquisition and now has ten full-time employees and nine consultants and four independent contractors as part of our research and development team.

**Additional Regulations**

The mass-produced Naqi Earbud product will be subject to certifications needed for consumer electronics and may need other certifications required to sell in specific global markets. The product is planned to comply with Federal Communications Commission ("FCC"), *conformité européenne* (French for "European Conformity") ("CE"), Waste Electrical and Electronic Equipment Directive (the "WEEE Directive") and the Restriction of Hazardous Substances Directive (the "RoHS Directive") certifications, as well as other certifications where necessary.

<u>FCC</u>

FCC certification is a type of product certification for electronic and electrical goods that are manufactured or sold in the United States. It certifies that the radio frequency emitted from a product is within limits approved by the FCC.

<u>CE</u>

Many products require CE marking before they can be sold in the European Union (the "EU"). CE marking indicates that a product has been assessed by the manufacturer and deemed to meet EU safety, health and environmental protection requirements. It is required for products manufactured anywhere in the world that are then marketed in the EU.

<u>WEEE Directive</u>

The WEEE Directive is the European Community Directive 2012/19/EU on waste electrical and electronic equipment which, together with the RoHS Directive 2011/65/EU, became European Law in February 2003. The WEEE Directive set collection, recycling and recovery targets for all types of electrical goods, with a minimum rate of four kilograms (nine pounds) per head of population per annum recovered for recycling by 2009. The RoHS Directive set restrictions upon European manufacturers as to the material content of new electronic equipment placed on the market.

<u>RoHS Directive</u>

The RoHS Directive, also known as Directive 2002/95/EC, originated in the EU and restricts the use of specific hazardous materials found in electrical and electronic products. All applicable products in the EU market after July 1, 2006 must pass RoHS compliance.

**Legal Proceedings**

On November 24, 2025, Northern Crucible Inc., a contractor previously engaged by the Company to assist with project management and administration related to a contract between the Company and the Government of Canada's Department of Industry (Innovation, Science and Economic Development Canada), filed a Notice of Civil Claim against the Company alleging breach of contract and non-payment of services and seeking damages of approximately CAD $250,000. On the same date, an individual associated with Northern Crucible filed a separate Notice of Civil Claim asserting similar allegations and damages in the same amount. Northern Crucible had been retained by the Company in June 2023 in connection with the execution of a government contract valued at approximately CAD $1.37 million. During the first half of 2024, the Company identified discrepancies between reimbursement claims prepared by Northern Crucible and supporting project documentation and subsequently conducted an internal review with the assistance of external counsel, terminated its engagement with Northern Crucible, and notified the relevant government agency of its findings. The Company has also invoked its contractual right to arbitration and has engaged in discussions with the claimants to seek a resolution of the matter. The proceedings remain pending as of the date of this filing. The Company believes the claims are without merit; however, there can be no assurance that the Company's assessment of the matter will prove accurate.

**DESCRIPTION OF PROPERTY**

We do not own any facilities and do not expect to own any facilities in the immediate future. Our mailing address is 100 Park Royal, Suite 200, West Vancouver, British Columbia, Canada, V7T 1A2, and all of the Company's personnel operate virtually from remote locations.

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

Please "See Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 1-K, filed pursuant to Regulation A, for the fiscal annual year ended June 30, 2025, which the Company filed with the SEC on March 20, 2026 and which is incorporated by reference herein.

Plan of Operations

Naqi's products and services are not yet commercially launched and the Company has not received any revenue from operations to date. The Company has prepared its plan of operations for the next 12 months and has identified a budget requirement of approximately $350,000 per month. The Company estimates that the earliest commercial launch of its products will occur in its fiscal year ending June 30, 2027.

As of June 30, 2025, the Company had a working capital deficiency of $3,094,642, cash on hand of $7,509, and a cumulative deficit since inception of $18,584,282. Subsequent to June 30, 2025, the Company has taken the following steps to improve its near-term liquidity: (i) raised an aggregate of approximately $1,438,959 through the issuance of the 2025-2026 Convertible Debentures between September 2025 and February 2026, bearing interest at 10% per annum, convertible into Common Shares at $2.175 per share, with 661,591 accompanying share purchase warrants exercisable at $2.175 per share; (ii) received approximately $383,000 in subscription receipts for Common Shares; and (iii) received $427,952 in proceeds from this Offering through the date of this Offering Circular. Following the closing of the Wisear Acquisition on February 2, 2026, the Company's organizational structure has expanded to include the Wisear team of approximately eight engineers.

As of the date of this Offering Circular, the Company has limited cash on hand and is dependent on the proceeds of this Offering to fund its ongoing operations and implement its plan of operations. The Company operates at an estimated monthly expenditure rate of approximately $300,000. At this rate, without the proceeds of this Offering or other external financing, the Company does not have sufficient cash resources to continue operations for the next 3 months. The Company believes that if sufficient proceeds are raised in this Offering, those proceeds will satisfy its cash requirements for the implementation of its plan of operations for the period described above. However, there is no assurance that the Offering will raise sufficient funds, and if the Company is unable to raise adequate proceeds through this Offering, it will need to seek alternative financing, which may not be available on acceptable terms or at all. See "Risk Factors" for a discussion of risks relating to the Company's liquidity position and its ability to continue as a going concern. With this proposed Offering, Naqi expects to raise between $3.28 million (which reflects raising 25% plus investor processing fee of the $15 million raise) and $15.52 million (which reflects 100% plus investor processing fee of fully subscribed raise). The Company expects that the proceeds from the offering will satisfy its cash requirements, and the Company does not expect that it will be required to raise any additional funding within the next six months to implement its plan of operations.

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**DIRECTORS, EXECUTIVE OFFICERS AND SIGNIFICANT EMPLOYEES**

The following table sets out the Company's executive officers, significant personnel and directors as of the date of this Offering Circular:

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| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Name** | **Position** | **Age** | **Term of Office** | **Approximate Hours**<br>**per Week for Part-**<br>**Time Personnel** |
| &nbsp;&nbsp;**Executive Officers:** |  |  |  |  |
| &nbsp;&nbsp;Mark Godsy | Chief Executive Officer | 70 | August 2020 | 20 |
| &nbsp;&nbsp;Sandeep Arya | Chief Business Officer | 47 | June 2024 | n/a |
| &nbsp;&nbsp;David Segal | Chief Innovation Officer | 48 | April 2021 | n/a |
| &nbsp;&nbsp;Gary Roshak | Chief Technology Officer | 64 | October 2021 | n/a |
| &nbsp;&nbsp;**Significant Employees:** |  |  |  |  |
| &nbsp;&nbsp;Zavier Alexander | Director of Product Management | 39 | October 2021 | n/a |
| &nbsp;&nbsp;**Directors:** |  |  |  |  |
| &nbsp;&nbsp;Mark Godsy | Director | 70 | August 2020 | n/a |
| &nbsp;&nbsp;Gary Roshak | Director | 64 | October 2021 | n/a |
| &nbsp;&nbsp;John Occhipinti | Director | 59 | October 2021 | n/a |
| &nbsp;&nbsp;Sam Sullivan | Director | 65 | March 2022 | n/a |

---

With the exception of David Segal and Sandeep Arya all of the above-listed Officers and Directors are serving the Company under consulting agreements.

There is no arrangement or understanding between the persons described above and any other person pursuant to which the person was selected to his or her office or position.

**Certain Relationships**

Except as set forth above and in our discussion below in "*Interest of Management and Others in Certain Transactions*," none of our directors, executive officers, person nominated or chosen by the Company to become a director or executive officer or significant employees have been involved in any transactions with us or any of our directors, executive officers, person nominated or chosen by the Company to become a director or executive officer or significant employees, affiliates or associates that are required to be disclosed pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC").

**Business Experience**

<u>**Mark Godsy, Chief Executive Officer**</u>

Mark Godsy is a non-practicing lawyer who practiced law for approximately four years in Vancouver, B.C., before becoming a serial entrepreneur approximately thirty years ago. Using his unique ability to build multi-disciplinary teams and navigate new concepts that can be both financed and commercialized, he has founded and helped build many companies over his career.

------

Mr. Godsy was the co-founder of ID Biomedical and Angiotech Pharmaceutical, two of the most successful biotech companies ever started in Canada, each of which grew to well over $1-billion dollars in value. ID Biomedical became the 5th largest vaccine company in the World (the largest in Canada), and Angiotech developed the first coated stent that has gone on to save tens of millions of lives around the world.

Mr. Godsy was also involved in data innovation as co-founder and founding Chairman of Mojio, which created the world's leading connected-car platform. He was also Chairman of Code Zero, a cloud-native developers' platform that accelerates development productivity by ten-fold.

Mr. Godsy is also a co-founder, Chairman, and current CEO of Shackelford Pharma, where he and an international team of experts are working with Dr. Alan Shackelford, a pioneer in medical cannabis, to develop regulatory-approved pharma-grade endocannabinoid treatments to treat numerous diseases affecting millions of people.

Mr. Godsy has a B.A. from University of British Columbia and a law degree from McGill University. He is a member of the Law Society of British Columbia and serves on McGill's Faculty of Law advisory board.

<u>**Sandeep Arya, Chief Business Officer**</u>

Sandeep Arya brings over 20 years of experience in the tech industry, having held senior positions at other prominent companies where he spearheaded numerous successful initiatives. His expertise spans various domains, including business strategy, market expansion, and stakeholder engagement. Mr. Arya is renowned for his ability to launch disruptive go-to-market strategies and foster high-value strategic partnerships across diverse global markets. Prior to joining Naqi, Mr. Arya served as Senior Director, Head of Mobile Strategic Planning and Partnerships at Samsung Electronics. In this role, he significantly enhanced revenue streams and developed global partnerships.

Mr. Arya holds a Master of Business Administration from the International Institution for Management Development, Switzerland, a Master of Engineering from the National University of Singapore, Singapore, and a Bachelor of Technology from the Indian Institute of Technology, Madras. He holds 7 US patents and is a certified Six Sigma Green Belt, underscoring his dedication to innovation and quality. As a Chief Business Officer at Naqi, Mr. Arya oversees all business operations, including strategic planning, business development, and partnership initiatives. He works closely with the executive team to identify new opportunities for growth and innovation, ensuring that Naqi remains at the forefront of the industry. Mr. Arya is passionate about driving transformative growth and making advanced, accessible tech solutions a reality for everyone.

<u>**David Segal, Chief Innovation Officer**</u>

Dave Segal, a seasoned veteran with more than ten years of specialized knowledge in Brain-Computer Interfaces ("BCIs"), presents an impressive portfolio of 30 patents spanning regions such as the United States, European Union, Israel, Hong Kong, and India. His patents are dedicated to advancing the hardware and system components of neural interfaces, facilitating seamless, hands-free, voice-free, and screen-free command, control, and navigation of computers and connected devices.

Driven by a passion for assisting wounded veterans and individuals with severe spinal cord injuries, Mr. Segal founded Naqi Logix Inc. His vision culminated in Naqi Logix being acknowledged as one of TIME's "Top Inventions of 2023," selected as an Innovation Honoree at the 2024 & 2025 Consumer Electronics Show ("CES") and receiving the 2024 AccessABILITY Award from USA TODAY-Reviewed™. Additionally, the company's groundbreaking work has earned a Gold Medal at the 2024 Edison Awards within their "Social & Cultural Impact" category.

Mr. Segal collaborates closely with an international team at Naqi Logix and holds a distinguished role within the corporate faculty of Harrisburg University of Science & Technology. Based at the University's Center for Innovation & Entrepreneurship ("CIE"), he leverages this position to continue innovating wearable and emerging neural interface technologies.

As a recognized authority in this field, Mr. Segal has delivered numerous speeches including 2022 TEDx St. George, and as a Keynote Speaker at the 2016 IEEE 2nd International Conference on Applied and Theoretical Computing and Communication Technology in Bengaluru, India.

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<u>**Zavier Alexander, Director of Product Management**</u>

Zavier is an accomplished product design leader with over 12 years of deep experience in the biosensor and wearable space. While leading product design at NeuroSky, Inc. he worked with global multi-disciplinary teams to design, develop and ship some of the first EEG headsets and applications available to the consumer market. He established novel best practices for biosensor product design and software, cultivating a nascent ecosystem of developers into a platform of 100+ third-party apps and products.

Throughout his career, Mr. Alexander collaborated with industry leaders such as Softbank, Mattel, Asus, Toshiba, Stanford University, and Hyundai, to integrate promising biosensors (EEG, ECG, BPI, PPG, etc.) into pioneering products that connect with people and elevate our relationship with technology. He holds a Bachelor of Fine Arts in Industrial Design from Academy of Art University. Mr. Alexander lives in San Francisco, California.

<u>**Gary Roshak, Director**</u>

Gary Roshak is a wireless industry pioneer and global executive with 30+ years of experience in mobile communications and digital media. He is Founder and Managing Partner at Synthesis Works, a wireless innovation accelerator, focused on finding new use cases and repurposing of wireless spectrum assets, and currently serves as President and cofounder of portfolio company Synthesis Cloud Inc. He has led the development of the company's satellite Content Delivery Network and Broadcast Internet platform services and next generation consumer media gateway.

Mr. Roshak was lead independent Board director for Mojio; a global connected car platform company; previously he was Vice President, Mobile Advertisers and Publishers, for Yahoo! Inc., with global responsibility for mobile advertising and publishing strategy, products and business; and led global project teams for AirTouch to compete for international wireless licenses and create local joint ventures throughout Europe and Asia. Earlier in his career, Gary held management roles in several leading consulting organizations, including Arthur Young &Co., PRTM and REALOGIC. Gary is a Phi Kappa Phi graduate of the Rochester Institute of Technology.

<u>**Sam Sullivan, Director**</u>

Sam Sullivan has been elected twice as Member of the Legislative Assembly of British Columbia for the riding of Vancouver False Creek. He served as Minister of Communities, Sport, and Cultural Development with responsibility for Translink. Prior to that, Mr. Sullivan served as Mayor of Vancouver from 2005-2008. He served as a Vancouver City Councillor from 1993 to 2002. He is a Member of the Order of Canada, Founder of Global Civic Policy Society, and Founder of Sam Sullivan Disability Foundation.

The Sam Sullivan Disability Foundation was founded by Sam to improve the quality of life for people with significant disabilities. To date, it has raised $20 million and served 10,000 people with disabilities throughout Canada and beyond. It consists of six nonprofit organizations: the Disabled Sailing Association, Tetra Society, ConnecTra Society, Vancouver Adapted Music Society, BC Mobility Opportunity Society, and the Disabled Independent Gardeners Association. Sam has made significant contributions to the disabled community in making outdoor activities more accessible. Through his work with the Disabled Sailing Association, the Martin 16 Sailboat was created with 150 in use around the world. He also co-invented the TrailRider with engineer Paul Cermak to help disabled people access the wilderness. Disabled people have used it to go to the top of Mount Kilimanjaro and the base camp of Mount Everest. Mr. Sullivan holds a Business Administration degree from Simon Fraser University.

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<u>**John Occhipinti, Director**</u>

John Occhipinti is the Founder of Wheelhouse Partners. Mr. Occhipinti is a second-generation venture capitalist who grew up in Silicon Valley. Prior to Wheelhouse, Mr. Occhipinti was a Partner at Relay Ventures, an early-stage venture fund exclusively focused on mobile software. Before Relay, Mr. Occhipinti was Managing Director at the Woodside Fund, an early-stage technology fund founded in 1983. Mr. Occhipinti has over 20 years of experience in venture and enterprise software technology, marketing, and sales.

Mr. Occhipinti serves as the Chairman for the Early Stage Venture Capital Alliance ("ESVCA"), a federation of 160 early stage Venture Partners that meet and share best practices and discuss industry challenges. Before his investment career, Mr. Occhipinti was an early executive at Netscape Communications. Mr. Occhipinti's team built the company's first $50 million in revenue, helping launch Netscape through its Initial Public Offering. Mr. Occhipinti holds a Master of Business Administration from the Walter Haas School of Business at the University of California, Berkeley and a Bachelor of Arts in Legal Studies from the University of California, Berkeley. Mr. Occhipinti is based in Menlo Park, California..

**Involvement in Certain Legal Proceedings**

To our knowledge, none of our current directors, executive officers or significant employees have, during the past ten years:

* been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

* had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association of which he or she was a general partner or executive officer, either at the time of the bankruptcy filing or within two years prior to that time;

* been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated with persons engaged in any such activity;

* been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

* been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

* been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Securities Exchange Act of 1934, as amended (the Exchange Act)), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Except as described under "Legal Proceedings" in this Offering Circular, we are not currently a party to any legal proceedings, the adverse outcome of which, individually or in the aggregate, we believe will have a material adverse effect on our business, financial condition or operating results.

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**COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS**

For the period from July 1, 2024 to June 30, 2025, the Company paid or accrued the following cumulative consulting fees and share based compensation to its five highest paid persons who were executive officers:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Capacities in which<br>compensation is received** | &nbsp;&nbsp;**Compensation** | &nbsp;&nbsp;**Other** | &nbsp;&nbsp;**Total** |
| **Name** | **Capacities in which<br>compensation is received** | &nbsp;&nbsp;**$** | &nbsp;&nbsp;**$** | &nbsp;&nbsp;**$** |
| Mark Godsy | Chief Executive Officer | &nbsp;&nbsp;120000 | &nbsp;&nbsp; - | &nbsp;&nbsp;120000 |
| Sandeep Arya | Chief Business Officer | &nbsp;&nbsp;295000 | &nbsp;&nbsp;- | &nbsp;&nbsp;295000 |
| Xavier Wenzel<sup>(1)</sup> | Chief Financial Officer | &nbsp;&nbsp;98420 | &nbsp;&nbsp; - | &nbsp;&nbsp;98420 |
| Gary Roshak | Chief Technology Officer | &nbsp;&nbsp;120000 | &nbsp;&nbsp;- | &nbsp;&nbsp;120000 |
| David Segal | Chief Innovation Officer | &nbsp;&nbsp;115000 | &nbsp;&nbsp;- | &nbsp;&nbsp;115000 |

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(1) Xavier Wenzel resigned as Chief Financial Officer of the Company effective November 3, 2025. The Company disclosed on Form 1-U filed with the SEC on November 5, 2025 that it does not intend to replace the Chief Financial Officer position at this time. The compensation shown reflects amounts paid or accrued, during which Mr. Wenzel served as Chief Financial Officer. Mr. Wenzel is not a current officer of the Company**.**

**Director and Executive Officer Compensation**

The Company does not pay its directors any cash compensation for their services as directors.

On April 12, 2021, Mark Godsy entered into a consulting agreement through his wholly-owned consulting company, 0711626 B.C. Ltd. for the provision of approximately 2.5 days per week of services as Chief Executive Officer, at a monthly fee of $10,000.

On May 18, 2023, the Company entered into an agreement with Fehr & Associates (the "Fehr Agreement") effective May 23, 2023, pursuant to which Fehr & Associates assumed responsibility of the Company's accounting department services, which includes ongoing technical accounting support and day to day administration and bookkeeping. The Fehr Agreement stipulated that, Xavier Wenzel, Principal at Fehr & Associates, would be available to assume the role of CFO of the Company should the Company wish him to assume such role. Effective July 3, 2023, Mr. Wenzel was appointed by the board as the Company's CFO. Compensation under the agreement was CAD$11,000 per month. Mr. Wenzel resigned as Chief Financial Officer effective November 3, 2025.

On September 18, 2023, the Company entered into a consulting agreement with Gary Roshak, a director of the Company, for services at a rate of $315 per hour to a maximum of $10,000 per month.

On June 17, 2024, the Company entered into an employment agreement with Sandeep Arya to provide services as Chief Business Officer of the Company at an annual salary of $295,000.

A stock incentive program for the Company's directors, executive officers, employees and key consultants has been established. Details of stock option grants are described in note 10 of the Company's audited consolidated financial statements for the year-ended June 30, 2025filed as part of the Company's Annual Report on Form 1-K for the fiscal year ended June 30, 2025, incorporated by reference herein.

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**Personnel Agreements, Arrangements or Plans**

Except as otherwise disclosed above in this Offering Circular, the Company has not entered into any other plan or arrangement with any of its directors or executive officers concerning future compensation.

During the year ended June 30, 2025 Mark Godsy received compensation of $120,000.

During the year ended June 30, 2025 David Segal received compensation of $115,000.

During the year ended June 30, 2025 Gary Roshak received compensation of $120,000.

During the year ended June 30, 2025 Xavier Wenzel<sup>(1)</sup> received compensation of $98,420.

During the year ended June 30, 2025 Sandeep Arya received compensation of $295,000.

<u>(1) Xavier Wenzel resigned as Chief Financial Officer effective November 3, 2025. No replacement has been appointed and the Company does not currently intend to fill the position. Compensation shown reflects amounts paid or accrued ended June 30, 2025 while Mr. Wenzel served in that capacity.</u>

**NOTE: A significant portion of the compensation mentioned above for the officers and employees was accrued. In month of April, 2025, due to the Company's financial challenges, the following officers and employees agreed to accrue half their agreed upon salary: Sandeep Arya, Dave Segal, and Zavier Alexander.**

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**SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS**

The following table shows the beneficial ownership of the Common Shares as of the date of this Offering Circular held by (i) each person known to us to be the beneficial owner of more than 10% of any class of our voting securities; (ii) each director who is the beneficial owner of more than 10% of any class of our voting securities; (iii) each executive officer who is the beneficial owner of more than 10% of any class of our voting securities; and (iv) all directors and executive officers as a group. As of June 30, 2025, there were 48,506,150 (see "Other Security Transactions" below) Common Shares issued and outstanding. As of the date of this Annual Report, there are 51,654,830 Common Shares issued and outstanding and 904,974 Non-Voting Common Shares.

Beneficial ownership is determined in accordance with the rules of the SEC, and generally includes voting power and/or investment power with respect to the securities held. Common Shares subject to options and warrants currently exercisable or which may become exercisable within 60 days of the date of this Annual Report, are deemed outstanding and beneficially owned by the person holding such options or warrants for purposes of computing the number of shares and percentage beneficially owned by such person, but are not deemed outstanding for purposes of computing the percentage beneficially owned by any other person. Except as indicated in the footnotes to this table, the persons or entities named have sole voting and investment power with respect to all the Common Shares shown as beneficially owned by them.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Title of<br>Class** | &nbsp;&nbsp;**Name and address<br>of Beneficial<br>Holder** | &nbsp;&nbsp;**Amount and Nature of**<br>**Beneficial Ownership** | &nbsp;&nbsp;**Amount and nature of beneficial <br>ownership acquirable** | &nbsp;&nbsp;**Percent of Class (2)** |
| Common Shares | &nbsp;&nbsp;0711626 B.C. Ltd. (1) | &nbsp;&nbsp;4446049 | &nbsp;&nbsp;246648 | &nbsp;&nbsp;14.3% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(1) 0711626 BC Ltd. Is a company controlled by Mark Godsy. The business address of 0711626 BC Ltd. is 5401 Greentree Road, West Vancouver, BC, V7W 1N3, Canada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(2) Based on 51,654,830 common shares outstanding excluding non-voting common shares as of the date of this Offering Circular.

**Other Security Transactions**

The following are securities transactions from June 30, 2025 to the date of this filing:

a) On December 30, 2025, the Company entered into a binding share purchase agreement to acquire 100% of Wisear Assets and Liabilities ("Wisear") shares via a share exchange. Wisear is early-stage company that develops and licenses next-generation human computer interface technology. The business rationale for the Wisear acquisition was to acquire its intellectual property, inclusive of its patent portfolio, as well as its technology development expertise and workforce. The acquisition closed in February 2026.

Pursuant to the share purchase agreement, the Company issued 4,053,654 common shares at a value of $2.40 for gross consideration of $9,728,772 to acquire 100% of the outstanding shares of Wisear. In addition, the Company also acquired long term liabilities of $2,291,999.

No finder's fees were paid in connection with the Acquisition. The acquisition of Wisear is considered to be a business combination under IFRS 3 as Wisear has inputs and processes that are capable of producing outputs. The Company incurred $266,406 of acquisition-related costs in its fiscal year ended June 30, 2025 which are included in professional fees in the Company's Consolidated Statement of net loss and comprehensive loss.

b) The Company raised a total of $1,438,959 via convertible debenture issuances between September 2025 and February 2026. This amount includes a refinancing of the Company's $20,000 shareholder demand promissory note (Note 9). Each debenture bears simple interest at a rate of 10.0% per annum with a maturity date that is 12 months from the date of issuance. The Company issued 661,591 share purchase warrants with an exercise price of $2.175 and five-year life from their date of issuance as part of the convertible debenture financing.

Each debenture, plus accrued interest, can be converted into shares of the Company at anytime at the conversion price of $2.175 per share. Unless any interest is converted prior to the maturity date, all accrued and unpaid interest shall be payable at the maturity date in common shares of the Company at a conversion price of $2.175 per share.

In the event that the Company completes a go-public transaction at any time prior to the maturity date, each debenture value plus accrued interest will be automatically converted into the common at the price per share of the go-public transaction.

c) Subsequent to June 30, 2025, the Company received subscription receipts of approximately $383,000 for shares to be issued pursuant to private placements

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**INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS**

**Transactions with Related Persons**

The Company considers a person or entity a related party if they are a member of key management personnel, including their close relatives, an associate or joint venture, those having significant influence over the Company, as well as entities that are controlled by related parties. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company. The Company has determined that key management personnel consist of executive and non-executive members of the Company's Board of Directors and corporate officers.

The Company entered into the following related party transactions during the year ended June 30, 2025 and 2024:

(i) Transactions with Key Management Personnel:

The following amounts were incurred with respect to Key Management Personnel; being the Company's CEO, CBO, CTO and CIO:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**For the year ended** <br>**June 30, 2025** | &nbsp;&nbsp;**For the year ended** <br>**June 30, 2024** |
|  | &nbsp;&nbsp;**$** | &nbsp;&nbsp;**$** |
| Consulting fees to key management personnel | &nbsp;&nbsp;748420 | &nbsp;&nbsp;462266 |
| Share-based compensation | &nbsp;&nbsp;701310 | &nbsp;&nbsp;9162 |
|  | &nbsp;&nbsp;1449730 | &nbsp;&nbsp;471428 |

---

(ii) Transactions with Directors:

The following amounts were incurred with respect to non-executive directors of the Company:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**For the year ended** <br>**June 30, 2025** | &nbsp;&nbsp;**For the year ended** <br>**June 30, 2024** |
|  | &nbsp;&nbsp;**$** | &nbsp;&nbsp;**$** |
| Share-based compensation | &nbsp;&nbsp;- | &nbsp;&nbsp;9162 |
|  | &nbsp;&nbsp;- | &nbsp;&nbsp;9162 |

---

As at June 30, 2025, $560,527 (2024 - $420,000) was owing to directors, officers or their related companies, where $540,527, (2024 - $420,000) was included in accounts payable & accrued liabilities and $20,000 was included in shareholder demand promissory note.

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Key management includes directors and executive officers of the Company. During the year ended June 30, 2025 and 2024, no compensation other than that disclosed above was paid or payable for key management services.

Other than the related party transactions described below, the Company did not enter into any other related party transactions for the years ended June 30, 2025 and June 30, 2024, and does not have any currently proposed transaction, in which we were or are to be a participant and the amount involved exceeded or exceeds the lesser of $120,000 and one percent of the average of the Company's total assets at year end, and in which any related person had or will have a direct or indirect material interest (other than compensation described under "Compensation of Executive Officers" above).

Of the $540,527 (2024 - $420,000) amount owing to directors, officers or their related companies, which was included in accounts payable:

* $397,485 (2024 - $316,736) is owed to Mark Godsy, Chief Executive Officer and director of the Company.

* $25,850 (2024 - $8,763) is owed to Fehr and Associates (where Xavier Wenzel, the Chief Financial Officer of the Company works).

* $nil (2024 - $84,500) is owed to iBC Insight, LLC, owned by SinanTumer, a former officer of the Company.

* $65,000 (2024 - $10,000) is owed to results Forge, LLC, owned by Gary Roshak, a director of the Company.

* $14,714 (2024 - $nil) is owed to David Segal, Chief Innovation Officer of the Company.

* $57,476 (2024 - $nil) is owed to Sandeep Arya, Chief Business Officer of the Company.

With regards to the note payable of $20,000 (2024 - $nil), it was owed to Mark Godsy, Chief Executive Officer and director of the Company.

**Review, Approval and Ratification of Related Party Transactions**

Given our small size and limited financial resources, to date we have not adopted formal written policies and procedures for the review, approval or ratification of related party transactions with our executive officers, directors, significant executives and significant shareholders. During the year ended June 30, 2025, we have begun to establish formal policies and procedures so that such transactions will be subject to the review, approval or ratification of our Board, or an appropriate committee thereof. Until such a time where the written policies are formally adopted, our directors will continue to approve any related party transactions.

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**Other Transactions** 

Subsequent to the fiscal year ended June 30, 2025 the Company entered into the following transactions:

(1) On or around December 31, 2024, the Company issued 512,946 Common Shares in a private placement at $2.61 per share.

(2) Between July 1, 2025 and the date of this Offering Circular, the Company issued 188,750 Common Shares pursuant to this Regulation A Offering.

(3) On February 2, 2026, the Company issued 4,053,654 Common Shares as consideration for the acquisition of Wisear Assets & Liabilities SAS at $2.40 per share, for aggregate equity consideration of US$9,728,772.

The Company did not enter into any other transactions for the years ended June 30, 2025 and June 30, 2024, in which we were or are to be a participant and the amount involved exceeded or exceeds the lesser of $120,000 and one percent of the average of the Company's total assets at year end, and in which any director nominee for election as director or any securityholder who beneficially owns more than 10% of any class of our voting securities, or any immediate family member, including such person's child, stepchild, parent, stepparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law, or any person (other than a tenant or employee) sharing such person's household ("**Immediate Family Member**") of any director or executive officer or director nominee for election as director, or any securityholder who beneficially owns more than 10% of any class of our voting securities, had or will have a direct or indirect material interest (other than compensation described under "Compensation of Executive Officers" above).

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**SECURITIES BEING OFFERED**

*The following is a summary of the rights of our share capital as provided in our Articles of Incorporation and Articles. For more detailed information, please see our Articles of Incorporation and Articles that have been filed as exhibits to the Offering Statement of which this Offering Circular is a part.*

**General**

The following description summarizes the most important terms of the Company's capital stock. This summary does not purport to be complete and is qualified in its entirety by the provisions of the Company's Certificate of Incorporation and Articles, copies of which have been filed as exhibits to the Offering Statement of which this Offering Circular is a part. For a complete description of the Company's capital stock, you should refer to the Certificate of Incorporation and Articles and to the applicable provisions of the Business Corporations Act (British Columbia).

The Company's authorized capital consists of (i) an unlimited number of Voting Common Shares, without par value; and (ii) an unlimited number of Non-Voting Common Shares, without par value.

As of the date of this Offering Circular, the Company has 51,654,830 Common Shares and 904,974 Non-Voting Common Shares issued and outstanding, totaling 52,559,804 Common Share Equivalents issued and outstanding.

**Voting Common Shares**

The aggregate number of Common Shares which includes 188,750 Common Shares that have already been issued, subject to this Offering is 6,896,551 consisting of (i) up to 5,747,126 Common Shares that we are offering for sale to investors, at a fixed price of $2.61 per Common Share, and (ii) up to 1,149,425 Bonus Shares. The minimum purchase per investor is $522 (200 Common Shares).

If all Common Shares are sold, at least 58,362,631 Common Share Equivalents will be outstanding, together with an indeterminate number of Bonus Shares. The aforementioned number of Common Shares expected to be outstanding upon completion of this Offering assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the sale of 5,747,126 Common Shares which includes the 188,750 Common Shares already issued, the maximum number offered for sale during the offering period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the issuance of *all* Bonus Shares.

**Rights, Preferences and Restrictions Attaching to The Common Shares**

*Common Shares*

The Company's Articles provide the following rights, privileges, restrictions and conditions attaching to our Common Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• One vote for each Common Share held at all meetings of shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The right to receive notice of and to attend all meeting of shareholders of the Company, except meetings at which only the holders of a specified class of shares (other than the Common Shares) are entitled to attend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The right to vote on all matters submitted to a vote or consent of shareholders of the Company, expect matters upon which only the holders of a specified class of shares (other than the Common Shares) are entitled to vote.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The right to receive dividends, if, as, and when declared by the Board, which the holders of the Common Shares and Non-Voting Common Shares shall participate equally with respect to dividends without preference or priority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the event of any liquidation, dissolution or winding-up of the Company or other distribution of assets of the Company among its shareholders for the purpose of winding up its affairs, subject to the rights, privileges, restrictions and conditions attaching to any other class of shares of the Company, all of the property and assets of the Company available for distribution to the holders of Common Shares and the Non-Voting Common Shares shall be paid or distributed equally, share for share, to the holders of the Common Shares and the Non-Voting Common Shares.

*Non-Voting Common Shares*

The Company's Articles provide the following rights, privileges, restrictions and conditions attaching to our Non-Voting Common Shares:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Except as required under the *Business Corporations Act* (British Columbia) (the "**BCBCA**"), the holders of Non-Voting Common Shares are not entitled to receive notice or, or at attend or to vote at, any meeting of the shareholders of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The right to receive dividends, if, as, and when declared by the Board, which the holders of the Common Shares and Non-Voting Common Shares shall participate equally with respect to dividends without preference or priority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In the event of any liquidation, dissolution or winding-up of the Company or other distribution of assets of the Company among its shareholders for the purpose of winding up its affairs, subject to the rights, privileges, restrictions and conditions attaching to any other class of shares of the Company, all of the property and assets of the Company available for distribution to the holders of Common Shares and the Non-Voting Common Shares shall be paid or distributed equally, share for share, to the holders of the Common Shares and the Non-Voting Common Shares

The Articles may be altered by the affirmative vote of the holders of not less than two-thirds of the outstanding Common Shares. With the exception of special resolutions (*e.g.*, resolutions in respect of fundamental changes to the Company, including: change of the Company's name, the sale of all or substantially all of the Company's assets, a merger or other arrangement or an alteration to the Company's authorized capital that is not allowed by resolution of the directors) that require the approval of holders of at least two-thirds of the outstanding shares entitled to vote at a meeting, either in person or by proxy, resolutions to approve matters brought before a meeting of our shareholders require approval by a simple majority of the votes cast by shareholders entitled to vote at a meeting, either in person or by proxy.

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**Shareholder Meetings**

The Articles provide that the location of a meeting of shareholders shall be determined by the Board and may be within or outside British Columbia. The Company must hold an annual general meeting of shareholders within 18 months after the date of incorporation and, after that, at least once in each calendar year and not more than 15 months after the last annual reference date. For the purpose of determining shareholders entitled to receive notice of or vote at meetings of shareholders, the directors may set in advance a date as the record date for that determination, provided that such date shall not precede by more than 60 days or, if we are a public company, 21 days, and otherwise 10 days, the date on which the meeting is to be held.

Under the BCBCA shareholders holding in the aggregate at least 1/20 of the issued shares of the Company that carry the right to vote at a general meeting of shareholders may requisition a meeting of shareholders. While only shareholders entitled to vote at the meeting, our directors and our auditor are entitled to be present at a meeting of shareholders. The court may, on its own motion or on the application of the Company, a director, or a shareholder entitled to vote at a meeting, order that a meeting of shareholders be called, held and conducted in the manner the court considers appropriate. The court may make such an order if it impracticable for any reason for the Company to call or conduct a meeting of shareholders in the manner required under the BCBCA or the Articles, if the Company fails to hold a meeting of shareholders if accordance with the BCBCA or for any other reason the court considers appropriate.

Pursuant to our Articles, the quorum for the transaction of business at a meeting of our shareholders is two persons who are, or who represent by proxy, shareholders who, in the aggregate, hold at least five percent of the issued shares entitled to be voted at the meeting.

**Fully Paid and Non-Assessable**

Provided that the consideration in respect of the Common Shares has been fully paid, and the Company has received all required corporate and other approvals, as applicable, in respect of the issuance of the Common Shares, all outstanding Common Shares are, and the Common Shares to be outstanding upon completion of this Offering will be, duly authorized, validly issued, fully paid and non-assessable.

**Resale Restrictions**

The Common Shares may be transferred only in accordance with applicable corporate and securities laws. The Common Shares may not be transferred without a resolution of the directors of the Company approving such transfer and such transfer may be refused by the directors, without giving any reason for such refusal.

The securities to be issued in connection with this Offering will be subject to a statutory hold period in Canada in accordance with Section 2.5(2)(3)(ii) of National Instrument 45-102 - Resale of Securities, and will contain the following legend until the end of such period: "Unless permitted under securities legislation, the holder of this security must not trade the security before the date that is 4 months, and a day after the later of (i) [*insert the distribution date*], and (ii) the date the issuer became a reporting issuer in any province or territory."

The Company is not a reporting issuer in Canada.

Investors in this Offering should consult with their own professional advisers with respect to restrictions on the transferability of the securities offered hereunder.

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**Shareholder Agreements**

The Company has four shareholder agreements in place: (i) a shareholder rights agreement (the "**Shareholder Rights Agreement**"); (ii) a right of first refusal and co-sale agreement (the "**Right of First Refusal and Co-Sale Agreement**"); (iii) a voting agreement (the "**Voting Agreement**") and (iv) certain voting trust agreement (the "Voting Trust Agreement") (each, a "**Shareholder Agreement**" and collectively, the "**Shareholder Agreements**"), each of which is summarized in greater detail below and attached as an exhibit hereto. Each of the Company's Regulation A shareholders has been required to execute the Voting Agreement. Investors in the current Offering will be required to execute the Voting Agreement. The Voting Agreement will terminate in connection with the closing of the Company's first underwritten public offering of its Common Shares (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to its share option, share purchase or similar plan or an SEC Rule 145 transaction).

<u>The Shareholder Rights Agreement</u>

The Shareholder Rights Agreement provides the Company's shareholders with a number of rights and ensures the Company operates according to best practices. The Shareholder Rights Agreement establishes the right of owners of at least 5% of the Company's issued and outstanding shares ("**Major Shareholders**") to receive financial statements from the Company unless waived. All other shareholders of the Company may receive such financial statements following their delivery of a written request to the Company. The Shareholder Rights Agreement provides that, subject to the terms of the Shareholder Rights Agreement and applicable law, the Company shall first offer any new securities of the Company to each Major Shareholder, and each Major Shareholder shall have the right to participate in such offering of new securities up to the percentage of the Common Shares then held by such Major Shareholder. The Major Shareholders are not required to purchase the additional securities but can do so at their option. The Shareholder Rights Agreement provides for additional standard covenants of the Company including: (i) director and officer insurance; (ii) protection of the Company's IP and confidential information; and (iii) meetings of the Board. Certain other shareholders have the same rights as Major Shareholders under the Shareholder Rights Agreement.

<u>The Right of First Refusal and Co-Sale Agreement</u>

The Right of First Refusal and Co-Sale Agreement regulates the mechanics of sales and transfers of the Common Shares. The right of first refusal provides that where a shareholder proposes to transfer shares of the Company, the Company shall have a right of first refusal to purchase all or any portion of such shares that such shareholder may propose to transfer at the same price and on the same terms and conditions as those offered to the prospective transferee. The Major Shareholders shall have a secondary refusal right to purchase all or any portion of the shares proposed to be transferred but not purchased by the Company pursuant to its right of first refusal. The right of co-sale provides that if any shares to be transferred to a proposed transferee and they are not purchased pursuant to the right of first refusal by the Company (or the secondary refusal right by the Major Shareholders, as applicable), each Major Shareholder may elect to exercise its right of co-sale and participate in the proposed share transfer on a pro-rata basis on the same terms and conditions in the proposed transfer. The right of first refusal (and secondary refusal right) and the right of co-sale shall not apply to certain "exempt" transfers, which include: (i) in the case of a shareholder that is an entity, to transfers to its shareholders, members, partners or other equity holders; (ii) repurchases of shares by the Company where such repurchase is pursuant to an agreement containing vesting and/or repurchase provisions approved by a majority of the Board; and (iii) in the case of a shareholder that is a natural person, upon a transfer of shares made for *bona fide* estate planning purposes. Shareholders are prohibited from transferring shares to any competitor or any customer, distributor or supplier of the company if such transfer would place the Company at a competitive disadvantage with respect to such customer, distributor or supplier. The Right of First Refusal and Co-Sale Agreement further provides for a prohibition on the sale of the Company's shares for 180 days (or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions) following the closing of a going public transaction. A transfer of shares that is not made in compliance with the agreement shall be null and void, shall not be recorded on the books of the Company or with its transfer agent and shall not be recognized by the Company. Certain other shareholders have the same right as Major Shareholders under the Right of First Refusal and Co-Sale Agreement.

<u>The Voting Agreement</u>

The Voting Agreement is an agreement between the Company and its shareholders. The Voting Agreement provides Mark Godsy with the right to, among other things, designate up to seven director nominees to the board of directors for so long as he is providing services to the Company as an employee of the Company or any subsidiary, engaged as a contractor, consultant, or advisor to the Company or any subsidiary, appointed as an officer to the Company or any subsidiary, or otherwise providing services as an owner of the Company to the Company or any subsidiary. Each shareholder is required to vote their shares in favor of the election of such director nominees. At present, Mr. Godsy has elected not to exercise his right to appoint any such nominees to the board of directors.

Further, the Voting Agreement provides that any corporate action that is approved by the board of directors but which also requires shareholder approval, whether by special resolution or ordinary resolution, as applicable, as provided in the British Columbia Business Corporations Act ("BCBCA") shareholders are obligated to vote their shares in favor of such corporate action. Under the BCBCA, such actions include, but are not limited to, certain amendments to the Notice of Articles and the Articles of the Company, amendments to the share capital of the Company, reductions in the capital on the shares of the Company, an amalgamation or arrangement involving the Company, a sale, lease or other disposition of all or substantially all of the assets of the Company, a continuance of the Company into another jurisdiction outside of British Columbia and the voluntary liquidation or dissolution of the Company. The Voting Agreement also requires shareholders to waive any dissent, appraisal or similar rights to which they may be entitled with respect to such corporate actions, to the extent permitted by law. The Voting Agreement establishes a drag-along right, which requires a minority shareholder to sell their shares in the context of a board of directors approved sale of the Company if more than 66-2/3% of shareholders approve such sale of the Company. Approximately, 100% of the Common Shares are subject to the Voting Agreement.

When subscribing for Common Shares in the Company, investors will be required to execute an adoption agreement to the Voting Agreement pursuant to which the investor will agree to be bound by the terms of the Voting Agreement as a shareholder as though such investor were originally a party thereto.

<u>The Voting Trust Agreement</u> 

Certain shareholders of the Company have entered into voting trust agreements with the Company (the "**Voting Trust Agreements**"), whereby each such shareholder deposits its shares in a voting trust and such shares can be voted by the Chief Executive Officer of the Company appointed from time to time. In connection with entering into the Voting Trust Agreements, the shareholders delivered to the Chief Executive Officer an irrevocable power of attorney. Pursuant to the power of attorney, the Chief Executive Officer is entitled to deliver a proxy at shareholder meetings to vote the shares of such shareholders and is entitled to execute on behalf of such shareholders, any resolution or other instrument in writing to be executed by the voting shareholders of the Company, including any agreement among the shareholders of the Company.

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**Equity Incentive Plan**

On December 29, 2021, the Company's Board of Directors approved the Naqi Logix Inc. Equity Incentive Plan ("the Plan"), which allows for the grant of certain incentive equity awards to employees, officers, directors and consultants of the Company who will contribute to the Company's long-term success by providing them with incentives that align their interests with those of the shareholders of the Company.

The aggregate number of Common Shares issuable upon the exercise of all options granted under the Plan has been fixed at 9,694,775 Common Shares, representing 20% of the Company's issued and outstanding Common Shares, on a non-diluted basis as at the date of this filing.

The number of Non-Voting Common Shares available for issuance pursuant to awards granted under the Plan will increase as the number of issued and outstanding Non-Voting Common Shares of the Company increases. In general, Non-Voting Common Shares subject to awards granted under the Plan that are exercised, terminated or cancelled, or returned to the Company for any reason, shall be available for issuance pursuant to subsequent awards granted pursuant to the Plan.

**Administration**

Our Board, or a committee of the Board designated by the Board, will administer the Plan. Subject to the terms of the Plan, the Board has the power to determine when and how awards will be granted, which employees, directors or consultants will receive awards, the type and terms of the awards granted, including the number of Non-Voting Common Shares subject to each award and the vesting schedule of the awards, if any, and to interpret the terms of the Plan and the award agreements, among other things. The Board also has the authority to accelerate the time at which an award may vest or be exercised, to approve forms of award agreements to be used under the Plan and amend the terms of any award agreement, and to amend, suspend or terminate the Plan at any time.

The Board will determine the provisions, terms and conditions of each award granted pursuant to the Plan, including vesting schedules, forfeiture or repurchase provisions, forms of payment (cash, shares, or other consideration) upon settlement of the award, payment contingencies and satisfaction of any performance criteria.

**Stock Options and Incentive Stock Options**

The Plan allows for the grant of incentive stock options that qualify under Section 422 of the Internal Revenue Code, and non-incentive stock options. Prior to an initial public offering, the exercise price of all options granted under the Plan will be determined by the Board, and in effect on the day of grant. Post IPO, the Board will establish the exercise price at the time each option is granted, which exercise price must in all cases be not less than the price required by the applicable regulatory authorities. The term of an option may not exceed 10 years, except that with respect to any employee who owns more than 10% of the voting power of all classes of our outstanding stock or any parent or subsidiary corporation as of the grant date, the term must not exceed five years, and the exercise price must equal at least 110% of the fair market value of the common share on the grant date. The Board will determine the terms of stock option awards pursuant to the Plan, including, without limitation, the permitted method(s) of payment for Non-Voting Common Shares upon the exercise of an option award, and vesting terms. After the continuous service of an option recipient terminates, the recipient's awards may be exercised, to the extent vested at the time of such termination, during the period of time specified in the recipient's award agreement, which generally will be the period of time ending on the earlier of (i) the date that is 90 days following the termination of the recipient's continuous service and (ii) the expiration of the term of the option. If the recipient does not exercise the option within the applicable time period, the option will terminate.

**Restricted Share Units**

The Plan allows for the grant of restricted share units ("**RSUs**"). RSUs are awards that will result in payment to a recipient at the end of a specified period only if the vesting criteria established by the Board are achieved or the award otherwise vests. Upon vesting and exercise of the award, an RSU may be settled by the delivery of Non-Voting Common Shares, their cash equivalent, any combination thereof or any other form of consideration, as determined by the Board and set forth in the applicable award agreement. The Board may determine the consideration, if any, to be paid by the recipient upon exercise of an RSU and delivery of each Non-Voting Common Share subject to the RSU. The Board may impose whatever conditions to vesting, or restrictions and conditions to payment, that it determines to be appropriate. The Board may set restrictions based on the achievement of specific performance goals or on the continuation of service or employment, or any other restrictions or conditions it deems appropriate. Upon termination of the continuous service of an RSU recipient, any unvested portion of the recipient's RSU award will be forfeited, except as otherwise provided in the applicable award agreement.

------

**Transferability of Awards**

The Plan does not allow for the transfer of awards granted under the Plan except as otherwise provided in the applicable award agreement or as otherwise expressly consented to by the Board.

**Certain Adjustments**

In the event of certain changes in our capitalization, the Board will make appropriate and proportionate adjustments to one or more of the number of Non-Voting Common Shares that are covered by outstanding awards, the exercise or purchase price of Non-Voting Common Shares covered by outstanding awards, and the numerical share limits contained in the Plan.

**Corporate Transactions**

The Plan provides that in the event of a corporate transaction such as a "Sale of the Company", as such term is defined in the Plan, the Board may take one or more of the following actions with respect to awards granted under the Plan: (i) cause the conversion or exchange of each outstanding option into Common Shares on a net issuance basis in accordance with a pre-defined formula; (ii) cause the conversion or exchange of each outstanding option into options, rights or other securities of substantially equivalent value (or greater value) as determined by the Board in its discretion, in an entity participating in or resulting from such liquidity event; (iii) accelerate the vesting, in whole or in part, of outstanding awards such that the outstanding options shall be fully vested and exercisable contemporaneously with the completion of the transaction resulting in the liquidity event; (iv) determine that any or all outstanding options will be purchased by the Company or an entity related to the Company at the liquidity event price less the exercise price for the option shares available to be purchased under such options; (v) cancel any or all of such outstanding unvested options.

The Board has the authority to amend, suspend or terminate the Plan at any time, without shareholder approval Notwithstanding the foregoing, subject to the discretion of the Board, the termination of this Plan shall have no effect on outstanding Awards, which shall continue in effect in accordance with their terms and conditions and the terms and conditions of the Plan.

**Penny Stock Regulation**

The SEC has adopted regulations that generally define "penny stock" to be any equity security that has a market price of less than $5.00 per share or an exercise price of less than $5.00 per share. Such securities are subject to rules that impose additional sales practice requirements on broker-dealers who sell them. For transactions covered by these rules, the broker-dealer must make a special suitability determination for the investor in such securities and have received the investor's written consent to the transaction prior to the investment. Additionally, for any transaction involving a penny stock, unless exempt, the rules require the delivery, prior to the transaction, of a disclosure schedule prepared by the SEC relating to the penny stock market. The broker-dealer also must disclose the commissions payable to both the broker-dealer and the registered representative, current quotations for the securities and, if the broker-dealer is the sole market-maker, the broker-dealer must disclose this fact and the broker-dealer's presumed control over the market. Finally, among other requirements, monthly statements must be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stocks. As the Common Shares immediately following this Offering may be subject to such penny stock rules, investors in this Offering may find it more difficult to sell the Common Shares in the secondary market.

**Absence of Public Market**

We are an alternative reporting company under Regulation A, Tier 2 of the Securities Act. There is no public trading market for the Common Shares. No application is currently being prepared for the Common Shares to be listed on a securities exchange or quoted on an alternative trading system. As a result, the Common Shares sold in this Offering may not be listed on a securities exchange or quoted on an alternative trading system for an extended period of time, if at all. (See "*Risk Factors*" beginning on page 12).

**Recent Sales of Unregistered Securities**

Set forth below are recent sales of unregistered securities:

On December 31, 2024, the Company closed a financing for $1,097,138.16 issuing 512,946 Common Shares, to accredited investors.

Issued 188,750 common shares, under a Regulation A financing for gross proceeds of $427,952. In accordance with the subscription agreement, certain investors were entitled to bonus shares pursuant to Schedule A (loyalty, reservation, and volume incentives), which reduced the effective average issue price per share compared to the base subscription price. The Company incurred $79,305 of share issuance costs related to the issuance of these shares.

On December 30, 2025, the Company entered into a binding share purchase agreement to acquire 100% of Wisear Assets and Liabilities ("Wisear") shares via a share exchange. Wisear is early-stage company that develops and licenses next-generation human computer interface technology. The business rationale for the Wisear acquisition was to acquire its intellectual property, inclusive of its patent portfolio, as well as its technology development expertise and workforce. The acquisition closed in February 2026.

Pursuant to the Wisear Purchase Agreement, the Company issued 4,053,654 Common Shares at an issue price of $2.40 per share (the "Consideration Shares"). 1,600,671 of the Consideration Shares will vest over two years following the Wisear Acquisition contingent on the continued employment or services of the Wisear team. In addition, the Company also acquired Wisear long term liabilities of $2,291,999.

No finder's fees were paid in connection with the Wisear Acquisition. The acquisition of Wisear is considered to be a business combination under IFRS 3 as Wisear has inputs and processes that are capable of producing outputs. The Company incurred $266,406 of acquisition-related costs in its fiscal year ended June 30, 2025 which are included in professional fees in the Company's Consolidated Statement of net loss and comprehensive loss.

As a result of limited access to Wisear information required to prepare the preliminary purchase allocation, together with the limited time since the acquisition date and the effort required to conform the financial statements of Wisear to the Company's accounting policies, the initial accounting for the business combination is incomplete at the date of these financial statements. As a result, the Company is unable to provide the amounts recognized as of the acquisition date for the major classes of assets acquired and liabilities assumed and the resulting amount of goodwill.

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**WHERE YOU CAN FIND MORE INFORMATION**

We have filed with the SEC an Offering Statement on Form 1-A pursuant to Regulation A promulgated under the Securities Act with respect to the Common Shares offered hereby. This Offering Circular, which constitutes a part of the Offering Statement, does not contain all of the information set forth in the Offering Statement or the exhibits and schedules filed therewith. For further information about us and the Common Shares offered hereby, we refer you to the Offering Statement and the exhibits and schedules filed therewith. Statements contained in this Offering Circular regarding the contents of any contract or other document that is filed as an exhibit to the Offering Statement are not necessarily complete, and each such statement is qualified in all respects by reference to the full text of such contract or other document filed as an exhibit to the Offering Statement. We are required to file periodic reports, proxy statements, and other information with the SEC pursuant to the Securities Exchange Act of 1934. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC also maintains an Internet website that contains reports, proxy statements and other information about issuers, including us, that file electronically with the SEC. The address of this site is <u>www.sec.gov</u>.

**INFORMATION INCORPORATED BY REFERENCE**

The SEC allows us to incorporate by reference the information we file with it, which means that we can disclose important information to you by referring you to another document that we have filed separately with the SEC. We hereby incorporate by reference the following information or documents into this Offering Circular:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• [<u>the Company's annual report pursuant to Regulation A on Form 1-K for the fiscal annual year ended June 30, 2025 filed with the SEC on March 20, 2026</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299326001551/form1k.htm).

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Any information in any of the foregoing documents will automatically be deemed to be modified or superseded to the extent that information in this Offering Circular or in a later filed document that is incorporated or deemed to be incorporated herein by reference modifies or replaces such information.

We urge you to carefully read this Offering Circular and the documents incorporated by reference herein, before buying any of the Shares. This Offering Circular may add or update information contained in the documents incorporated by reference herein. To the extent that any statement that we make in this Offering Circular is inconsistent with statements made in the documents incorporated by reference herein, you should rely on the information in this Offering Circular and the statements made in this Offering Circular will be deemed to modify or supersede those made in the documents incorporated by reference herein.

You should rely only on the information contained in this Offering Circular or incorporated herein by reference. We have not authorized anyone to provide you with different information. No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this Offering Circular or incorporated herein by reference. You should not rely on any unauthorized information or representation. This Offering Circular is an offer to sell only the Shares offered hereby, and only under circumstances and in jurisdictions where it is lawful to do so. You should assume that the information in this Offering Circular is accurate only as of the date on the front of the applicable document and that any information we have incorporated by reference is accurate only as of the date of the document incorporated by reference, regardless of the time of delivery of this Offering Circular, or any sale of a security.

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

Upon written or oral request, we will provide you without charge a copy of any or all of the documents that are incorporated by reference into this Offering Circular, including but limited to financial statement information and exhibits which are specifically incorporated by reference into such documents. Requests should be directed to: Naqi Logix Inc., Attention: Investor Relations, who can be contacted at investor@naqilogix.com, or by calling 1-888-627-4564 Ext.1. Additionally, you may access this information at <u>www.sec.gov/edgar/browse/?CIK=1902337</u>..

------

**PART F/S**

Please "See Item 7. Financial Statements" in our annual report on Form 1-K, filed pursuant to Regulation A, for the fiscal annual year ended June 30, 2025, which the Company filed with the SEC on March 20, 2026 and which is incorporated by reference herein.

**INDEX TO CONSOLIDATED FINANCIAL STATEMENTS** 

---

| | |
|:---|:---|
|  | **Page** |
| **Financial Statements of Wisear Assets & Liabilites SAS** |  |
| Report of Independent Registered Public Accounting Firm | F-2 |
| Consolidated Balance Sheets as of December 31, 2024 and 2023 | F-3 |
| Consolidated Statements of Operations for the years ended December 31, 2024 and 2023 | F-4 |
| Consolidated Statements of Comprehensive Loss for the years ended December 31, 2024 and 2023 | F-5 |
| Consolidated Statements of Changes in Stockholder's Equity for the years ended December 31, 2024 and 2023 | F-6 |
| Consolidated Statements of Cash Flows for the years ended December 31, 2024 and 2023 | F-7 |
| Notes to Consolidated Financial Statements | F-8 |
| **Interim Unaudited Pro Forma Condensed Consolidated Financial Statements of Naqi Logix Inc. and Wisear Assets & Liabilities SAS** |  |
| Condensed Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 | F-104 |
| Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the year ended June 30, 2025 and year ended December 31, 2024 | F-105 |
| Notes to Interim Unaudited Pro Forma Condensed Consolidated Financial Statements | F-109 |

---

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![](form1ax009.jpg)

![](form1ax010.jpg)

Nos cabinets : Bourgoin-Jallieu • Cergy-Pontoise • Châlons-en-Champagne • Dijon • Lille • Lyon • Nancy • Nogent-sur-Seine • Paris

<u>R</u>omilly-sur-Seine • Saint-Dié • Saint-Dizier • Saint-Genis-Laval • Sens • Strasbourg • Troyes • Vienne • Vitry-le-François

Société AKELYS - Société inscrite au tableau de l'Ordre des Experts Comptables de la Région de Paris - Ile de France Société de Commissaires aux comptes, membre de la Compagnie Régionale de Paris

Siège social - 19 avenue de Messine - 75008 Paris - Tél. +33 (0)1 53 53 58 00

Siège administratif - 6 rue du Général Sarrail - 10000 Troyes - Tél. +33 (0)3 25 80 66 80

SELAS au capital de 1 040 000 euros - RC Paris B 652 008 939 - SIRET 652 008 939 00025 - APE 6920 Z - N° TVA intracommunautaire : FR04652008939

------

WISEAR

**Independent Auditor's Report**

To the President of WISEAR,

**Opinion**

In response to your request, we have audited the financial statements of WISEAR Company (the Company), which comprise the statement of financial position as at December 31, 2024, and the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies.

In our opinion, the accompanying financial statements present fairly, in all material respects the financial position of the Company as at December 31, 2024, and its financial performance and its cash flows for the year then ended prepared in conformity with IFRS as adopted in the European Union.

**Basis for opinion**

We conducted our audit in accordance with the standards of the PCAOB, the professional standards applicable in France and the professional guidelines of the National Company of Auditors (CNCC). These standards are adopted by the High Audit Authority (H2A) and approved by the Minister of Justice. The approved standards in force are generally consistent with the international auditing standards developed by IFAC (International Federation of Accountants), of which the CNCC is a member.

Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in France, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

**Responsibilities of Management and Those Charged with Governance for the Financial Statements**

Management is responsible for the preparation and fair presentation of the financial statements in accordance with IFRSs and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations.

Those charged with governance are responsible for overseeing the Company's financial reporting process.

------

WISEAR

**Auditor's Responsibilities for the Audit of the Financial Statements**

Our objective is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with CNCC professional guidance will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Paris, November 25, 2025

**AKELYS**

![](form1ax011.jpg)

**François LAMY**

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**FINANCIAL STATEMENTS PREPARED ACCORDING** 

**TO IFRS FOR THE FINANCIAL YEAR ENDED** 

**DECEMBER 31, 2024**

**WISEAR**

------

**SUMMARY**

---

| | |
|:---|:---|
| [***STATEMENT OF FINANTIAL POSITION***](#page_66) | [***7***](#page_66) |
| [***STATEMENT OF COMPREHENSIVE INCOME***](#page_67) | [***8***](#page_67) |
| [***STATEMENT OF CHANGE IN CASH FLOWS***](#page_68) | [***9***](#page_68) |
| [***STATEMENT OF CHANGE IN EQUITY***](#page_69) | [***10***](#page_69) |
| [***NOTES TO FINANCIAL STATEMENTS***](#page_70) | [***11***](#page_70) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 1. GENERAL INFORMATION**](#page_70) | [**11**](#page_70) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 2. FIRST TIME APPLICATION OF IFRS**](#page_70) | [**11**](#page_70) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 3. ACCOUNTING RULES AND METHODS**](#page_70) | [**11**](#page_70) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 4. EVENTS AFTER THE REPORTING PERIOD**](#page_76) | [**17**](#page_76) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 5. OPERATING PROFIT**](#page_77) | [**18**](#page_77) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 6. FINANCE INCOME**](#page_78) | [**19**](#page_78) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 7. INTANGIBLE ASSETS**](#page_78) | [**19**](#page_78) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 8. TANGIBLE ASSETS**](#page_78) | [**19**](#page_78) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 9. NON-CURRENT FINANCIAL ASSETS**](#page_79) | [**20**](#page_79) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 10. WORKING CAPITAL REQUIREMENT**](#page_79) | [**20**](#page_79) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 11. CASH AND CASH EQUIVALENTS**](#page_81) | [**22**](#page_81) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 12. SHARE CAPITAL**](#page_81) | [**22**](#page_81) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 13. EARNINGS PER SHARE**](#page_81) | [**22**](#page_81) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 14. INFORMATION ON THE FAIR VALUE OF FINANCIAL INSTRUMENTS**](#page_82) | [**23**](#page_82) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 15. FINANCIAL RISK MANAGEMENT**](#page_83) | [**24**](#page_83) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 16. PROVISIONS FOR EMPLOYEE BENEFITS**](#page_84) | [**25**](#page_84) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 17. INCOME TAX**](#page_84) | [**25**](#page_84) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 18. SEGMENT INFORMATION**](#page_87) | [**28**](#page_87) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 19. RELATED-PARTY TRANSACTIONS**](#page_87) | [**28**](#page_87) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 20. OFF-BALANCE SHEET COMMITMENTS**](#page_87) | [**28**](#page_87) |
| &nbsp;&nbsp;&nbsp;&nbsp;[**Note 21. NOTE REGARDING THE TRANSITION TO IFRS STANDARDS**](#page_88) | [**29**](#page_88) |

---

------

**STATEMENT OF FINANCIAL POSITION**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | *As at December 31* | *As at December 31* | *As at December 31* |
| In thousands of euros | &nbsp;&nbsp;**Notes** | **01.01.2023** | **2023** | **2024** |
| Goodwill |  |  |  |  |
| Intangible assets | 7 | 9 | 7 | 6 |
| Property, plant and equipment | 8 | 52 | 37 | 28 |
| Non-current financial assets | 9 | 9 | 38 | 38 |
| Deferred tax assets | 17 |  | 1 | 1 |
| Others non-current assets |  | - | - | - |
| **Non-current assets** |  | **70** | **83** | **73** |
| Trade receivables | 10 |  |  |  |
| Current tax receivables |  | 188 | 318 | 22 |
| Other current assets | 10 | 99 | 264 | 55 |
| Cash and cash equivalents | 11 | 1 114 | 660 | 108 |
| **Current assets** |  | **1 401** | **1 242** | **185** |
| **TOTAL ASSETS** |  | **1 471** | **1 325** | **258** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | *As at December 31* | *As at December 31* | *As at December 31* |  |
| In thousands of euros | &nbsp;&nbsp;**Notes** | **01.01.2023** | **2023** | **2024** |  |
| Share capital | 12 | 59 | 59 | 69 |  |
| Share premium |  |  |  |  |  |
| Reserves |  | 64 | 64 | (971) |  |
| Net comprehensive income |  | - | (1 037) | (902) | 3.0 |
| **Equity attributable to owners of the parent** |  | **123** | **(914)** | **(1 804)** |  |
| Non-current provisions | 16 | 1 | 4 | 6 |  |
| Financial liabilities - non-current part |  | 1 250 | 2 054 | 1 687 |  |
| Deferred tax liabilities | 17 |  |  |  |  |
| Others non-current liabilities |  | - | - | - |  |
| **Non-current liabilities** |  | **1 251** | **2 058** | **1 693** |  |
| Current provisions | 16 |  |  |  |  |
| Trade payables | 10 | 17 | 45 | 27 |  |
| Current tax debts |  |  |  |  |  |
| Current financial liabilities |  | 48 | 68 | 166 |  |
| Other current liabilities | 10 | 31 | 68 | 177 |  |
| **Current liabilities** |  | **96** | **181** | **370** |  |
| **TOTAL EQUITY AND LIABILITIES** |  | **1 471** | **1 325** | **258** |  |

---

------

STATEMENT OF COMPREHENSIVE INCOME

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | *As at December 31* | *As at December 31* |  |
| In thousands of euros | &nbsp;&nbsp;**Notes** | **2023** | **2024** |  |
| **Revenues from operating activities** |  | **6** | **280** |  |
| Costs of sales |  | (19) | (12) |  |
| External expenses | 5.2 | (479) | (619) |  |
| Personnel expenses | 5.1 | (532) | (772) |  |
| Tax and duties |  | (8) | (8) |  |
| Depreciation and provisions | 5.3 | (23) | (11) |  |
| Other current operating income and expenses | 5.4 | 79 | 16 |  |
| **Current operating income** |  | **(976)** | **(1 126)** |  |
| Other non-current operating income and expenses |  | - | 297 |  |
| **Current and non-current operating income** |  | **(976)** | **(829)** |  |
| Financial income |  | (63) | (74) |  |
| Others financial income & expenses | 6 | 2 | (0) |  |
| **Profit (loss) before tax** |  | **(1 037)** | **(902)** |  |
| Income tax | 17 | 0 | 1 |  |
| **Net income** |  | **(1 037)** | **(901)** |  |
| Basic earnings per share (in euros) | 13 | (018) | (013) |  |
| Diluted earnings per share (in euros) | 13 | (018) | (013) |  |
|  |  | **2023** | **2024** | 4.0 |
| **Net income** |  | **(1 037)** | **(901)** |  |
| **Items that will not be reclassified to profit or loss** |  |  |  |  |
| Actuarial gains and losses |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross amount |  | (1) | 0 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax |  | 0 | (0) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total amount, net of tax** |  | **(0)** | **0** |  |
| **Items that may be reclassified subsequently to profit or loss** | **Items that may be reclassified subsequently to profit or loss** |  |  |  |
| **Total - other items of comprehensive income** |  | **(0)** | **0** |  |
| **COMPREHENSIVE INCOME** |  | **(1 037)** | **(902)** |  |
| Basic comprehensive income per share (in euros) |  | (018) | (013) |  |
| Diluted comprehensive income per share (in euros) |  | (018) | (013) |  |

---

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STATEMENT OF CHANGE IN CASH FLOWS

---

| | | |
|:---|:---|:---|
| In thousands of euros | **12.31.2023** |  |
| **Company profit (loss) for the year** | **(1 037)** |  |
| **Removal of income and expenses with no cash impact:** |  |  |
| Allocation (reversal) of amortisation, depreciation, provisions and | 24 |  |
| impairment | 24 |  |
| impairment |  |  |
| Financial expense (income) | 63 |  |
| Tax expense (income) for the financial year |  |  |
| **Cash flow** | **(950)** |  |
| Tax paid in the financial year | (368) |  |
| Change in working capital requirement: | 136 |  |
| - Trade and other receivables | 74 |  |
| - Trade and other payables | 62 |  |
| -Other operating assets and liabilities | - |  |
| **Net cash-flow generated by the business (Total I)** | **(1 182)** |  |
| ***Investment operations*** |  |  |
| Acquisition of non-current assets | (6) |  |
| Financial investments | (29) |  |
| **Net cash-flow from investment operations (Total II)** | **(35)** |  |
|  |  | 5 |
| ***Financing operations*** |  |  |
| Interest paid | (63) |  |
| Increase of financial liabilities | 865 |  |
| Repayment of financial liabilities | (39) |  |
| **Net cash-flow from financing operations (Total III)** | **763** |  |
| ***Change in cash (I+II+III)*** | ***(452)*** |  |
| Opening cash | 1 112 |  |
| Closing cash | 660 |  |
| **Cash change** | **(452)** |  |

---

------

STATEMENT OF CHANGE IN EQUITY

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| In thousands of euros | **Share**<br>**capital** | **Reserves** | **Revenue** | **Equity**<br>**attributable**<br>**to owners of**<br>**the parent** | **Non**<br>**controlling**<br>**interests** | **Equity** |
| **As at January 1, 2023** | **59** | **64** | **-** | **123** |  | **123** |
| Profit (loss) for the period | **-** | **-** | **(1 037)** | **(1 037)** | **-** | **(1 037)** |
| Other items of comprehensive income | **-** | **-** | **-** | **-** | **-** | **-** |
| **Comprehensive income** | **-** | **-** | **(1 037)** | **(1 037)** | **-** | **(1 037)** |
| **As at December 31, 2023** | **59** | **64** | **(1 037)** | **(914)** | **-** | **(915)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital increase | **10** | **2** | **-** | **12** | **-** | **12** |
| Profit (loss) for the period | **-** | **-** | **(901)** | **(901)** | **-** | **(901)** |
| Other items of comprehensive income | **-** | **-** | **-** | **-** | **-** | **-** |
| **Comprehensive income** |  |  | **(901)** | **(901)** | **-** | **(901)** |
| Allocation of the profit (loss) from the previous financial period | **-** | (1 037) | 1 037 |  |  |  |
| Dividends | - | - | - | - | - | - |
| **As at December 31, 2024** | **69** | **(971)** | **(901)** | **(1 804)** | **-** | **(1 804)** |

---

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NOTES TO FINANCIAL STATEMENTS

------

Note 1. GENERAL INFORMATION

Wisear Company ("the Company") is a French simplified joint-stock company with its registered office located in France, at rue des Plaines de l'Yonne, 89000 Auxerre.

The Company specializes in the development of neural interface and artificial intelligence technologies that allow the integration of touchless and voice-free control into consumer electronic devices

At the end of 2024, the Company created Wisear Assets & Liabilities to carry out a partial contribution of all these assets and liabilities, which was completed at fair value. In exchange for this partial contribution of assets, the Company received 100% of the shares of Wisear Assets & Liabilities valued at €8,893K.

Consequently, since the entirety of the activity was transferred to Wisear Assets & Liabilities by Wisear, which owns it, for the sake of consistency in the comparability of the accounts presented below in IFRS, the year 2023 corresponds to the IFRS financial statements of Wisear, and the year 2024 corresponds to the consolidated IFRS financial statements of the Group, consisting of its parent company Wisear and its wholly-owned subsidiary Wisear Assets & Liabilities. This is also the reason why a comparative cash flow statement as of December 31, 2023, is not presented.

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Note 2. FIRST TIME APPLICATION OF IFRS

The presented accounts have been prepared in accordance with IFRS 1 "First-time Adoption of International Financial Reporting Standards." These accounts constitute an additional set of accounts compared to the Company's historical statutory accounts, which are prepared in accordance with French accounting principles.<sub>7</sub>

The transition date chosen by the Company is January 1, 2023.

The first IFRS financial statements are presented as of December 31, 2024, and therefore cover the fiscal years ending December 31, 2023, and 2024.

IFRS 1 provides for exceptions (mandatory) and exemptions (optional) to the retrospective application of IFRS standards at the date of transition. In this context, the Company has not opted for any exemptions provided by IFRS 1.

Information relating to the first-time adoption of IFRS and the reconciliation with the financial statements prepared by the Company for the same periods according to French accounting principles is presented in note 21.

------

Note 3. ACCOUNTING RULES AND METHODS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.1.*** *Basis of preparation of the financial statements*

------

The accounts were prepared in compliance with IFRS as adopted by the European Union applicable on December 31, 2024, and this applies for all the presented periods.

The IFRS framework includes IFRS standards, IAS (International Accounting Standards), as well as their interpretations (IFRIC and SIC), which are available at the following link:

https://eur-lex.europa.eu/FR/legal-content/summary/international-financial-reporting-standards-ifrs-adopted- by-the-european-union.html

------

The Group applied the following standards, amendments of standards and interpretations adopted by the European Union and applicable as of January 1, 2023:

These standards, interpretations and amendments, mandatory as of January 1, 2023, have no material impact on the Group's financial statements.

- Amendments to IAS 8 : « Definition of Accounting Estimates ».

- Amendments to IAS 1 and IFRS Practice Statement 2 : « Disclosure of Accounting Policies ».

- Amendments to IAS 1 : « Deferred Tax related to Assets and Liabilities arising from a Single Transaction ».

- Amendments to IAS 12 : « International Tax Reform - Pillar Two Model Rules»

The Group applied the following standards, amendments of standards and interpretations adopted by the European Union and applicable as of January 1, 2024:

These standards, interpretations and amendments, mandatory as of January 1, 2024, have no material impact on the Group's financial statements.

- Amendments to IFRS 16 « Lease liability in a sale and leaseback » ;

- Amendments to IAS 1 « Presentation of the financial statements - Classification of liabilities as current or non-current» ;

- Amendments to IAS 7 and IFRS 7 « Financial instruments».

The financial statements are presented in thousands of euros, rounded up to the nearest thousand euros, unless otherwise indicated.

The Company's first IFRS financial statements are prepared according to the going concern principle and historical cost, except for certain financial instruments and available-for-sale financial assets, which are measured at fair value. <u>8</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.2.*** *Use of judgements and estimates*

The preparation of financial statements in accordance with IFRS requires management to make estimates and assumptions that affect the carrying amount of certain assets and liabilities, income and expenses, and the information provided in some Notes.

Certain financial accounting information has required significant estimations to be made: in particular the value of deferred tax assets, provisions for risks, retirement benefit plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.3.*** *Foreign currencies*

The financial statements are presented in euros, which is the Group's functional currency. Almost all of the Group's transactions are denominated in euros.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.4.*** *Revenue recognition*

Wisear's revenue mainly comes from the sale of prototypes and connected objects incorporating its control technology, as well as from licensing this technology, particularly to Naqi. <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.5.*** *Intangibles assets*

Intangible assets are recorded at their acquisition cost less any accumulated amortisation and any accumulated impairment losses. Intangible assets with definite lives are amortised over their useful economic life, using the straight-line method.

*Research and development costs*

The Group regularly incurs research and development costs. Research costs are systematically expensed as incurred. Development expenditures are recognised as an intangible asset when the Group can demonstrate the following six things:

• the technical feasibility required for completion of the development project;

• its intention to complete the project and put it into service;

• the capacity to use the intangible asset;

• the probability of future economic benefits being generated;

• the availability of technical, financial and other resources to complete the project; and

• the ability to reliably measure the development expenditure.

As of the date the financial statements were prepared, the company considers that these criteria were not met prior to the commitment of costs.

Consequently, development expenses were recognized as an expense in the financial year in which they were incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.6.** Tangible assets*

Property, plant and equipment are initially accounted for at their acquisition cost. Depreciation, calculated from the date of commissioning of the non-current asset, is recognised as an expense to reduce the carrying amount of assets over their estimated useful lives, on a straight-line basis over the following period:<sub>9</sub>

• Technical installations : 3 years/ 10 years

• Other non-current assets :

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• IT and office equipments 3 years/ 10 years

Depreciation or amortisation expense for non-current assets is recognised within the income statement as "Depreciation and amortisation".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.7.*** *Leases*

IFRS 16 "Leases" has been mandatory since January 1, 2019. The main effects of the implementation of IFRS 16 compared to the principles previously applied under IAS 17 (former standard) relate to the recognition of leases where the Company acts as lessee.

IFRS 16 defines a lease as a contract that gives the lessee the right to control the use of an identified asset.

All leases are recognised on the statement of financial position in the recognition of an asset in respect of the right of use of the leased assets with a corresponding liability.

As of the balance sheet date, there were no contracts of this nature. <br>

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.8.*** *Impairment of non-financial assets*

When events or changes to the market environment or internal factors indicate there is a risk of an asset losing value, principally relating to property, plant and equipment or intangible assets, they undergo an impairment test. In the case of non-amortised intangible assets, the impairment tests are performed annually. The Company does not hold any indefinite-lived assets that would require an impairment test. Furthermore, no indication of impairment has been identified that would justify testing other finite-lived assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.9.*** *Financial assets and liabilities*

IFRS 9 "Financial Instruments", whose application is mandatory as of January 1, 2018, includes the following three main components:

- classification and evaluation of financial assets and liabilities : the standard requires financial assets to be classified according to their type, the characteristics of their contractual cash flows and the business model followed in managing them;

- impairment of financial assets: IFRS 9 determines the principles and methodology to apply to evaluate and account for the credit losses expected on the financial assets, the commitments on loans and the financial guarantees;

- hedge accounting: the new text aims for better alignment between hedge accounting and risk management by establishing an approach that is founded more upon the principles of risk management.

Application of IFRS 9 provisions has no significant impact on the financial statements as at December 31, 2024. As the Group does not have a hedging instrument, it was not impacted by the last part of the standard. The second part of the standard, relating to impairment, also did not have an impact on the Group's financial statements.

The available-for-sale assets were themselves reclassified in "Assets at fair value through profit or loss". <u>10</u>

*Financial assets at fair value through profit or loss*

These represent the assets held-for-trading that are assets destined for short-term uses. They are valued at fair value and the changes in fair value are recognised in the income statement.

*Financial liabilities at fair value through profit or loss*

These represent the liabilities held for transaction purposes that are liabilities that are destined for short-term uses. They are valued at fair value and the changes in fair value are recognised in the income statement.

*Loans and receivables*

Loans and receivables are measured at amortised cost less any necessary impairment charge.

*Financial liabilities and trade payables*

Financial liabilities and trade payables are measured at amortised cost. Interest is calculated using the effective interest rate and is recognised as financial expense in the income statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.10.*** *Trade and other receivables*

A provision for depreciation is recognised when there are objective indicators which indicate that the amounts due cannot be recovered fully or partially. In particular, the process of assessing the recoverable amount of trade receivables due at the balance sheet date is subject to individual consideration and the necessary provisions are recognised if there is a risk of non-recovery. Their carrying amount corresponds to a reasonable approximation of their fair value. <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.11.*** *Cash and cash equivalents*

The item "Cash and cash equivalents" includes cash and readily available money market investments, subject to a negligible risk of change in fair value, which can be readily used to meet existing cash outflow requirements. Monetary investments are valued at their market value at the reporting date. Changes in value are recorded in "Other financial income" or"Other financial expenses".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.12.*** *Share capital*

Ordinary shares are classified as equity instruments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.13.*** *Personnel benefits* 

*Retirement benefit plans*

The Group applies the relevant legal obligations or provides customary supplementary pension schemes or other long-term benefits to employees. The Group offers these benefits through defined contribution plans.

Contributions relating to defined contribution plans are expensed as and when they become due for services rendered by employees.

Severance pay is governed by the collective bargaining agreement applicable within the Group and concerns retirement benefits or end-of-career payments made in the event of the voluntary departure or retirement of employees. Severance pay is part of the defined-benefit plans.

Commitments arising from defined-benefit plans and their costs are determined using the projected unit actuarial valuation method. Valuations are carried out annually. Actuarial calculations are provided by external consultants.

These plans are funded, and the residual obligation may be recognised as a pension asset in the statement of<sup></sup>financial position. <u>11</u>

The main plan concerns end-of-career payments (retirement benefits). The change in the liability and the plan assets includes:

- the cost of the services rendered and the amortisation of the cost of past services recognised as operating expenses;

- the reduced financial cost of the return on plan assets, recognised as financial income; and

- actuarial differences directly recognised in "Other items of comprehensive income".

The actuarial differences come from changes in the assumptions and from the difference between the estimations according to the actuarial assumptions and the actual results of the revaluations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.14.*** *Other provisions*

A provision is recognised when, at the end of the period, the Group has a present obligation (legal or implied) arising from past events and it is probable that an outflow of future economic benefits will be required to settle the obligation.

Litigation is provided for when an obligation of the Group to a third party exists at the balance sheet date. The measurement of provision is based on the best estimate of projected expenditure.

Contingent liabilities represent potential obligations arising from past events whose existence will be confirmed only by the occurrence of uncertain future events which are not under the control of the entity or existing obligations where an outflow of resources is not probable. With the exception of those recognised as a result of a business combination, contingent liabilities are not recognised in the accounts but are described in a note to the financial statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.15.*** *Income tax*

"Income tax" includes current tax for the financial year and deferred tax.

Deferred tax is recognised, using the liability method, for temporary differences existing at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts ; and tax losses.

A deferred tax asset is recognised for tax losses and unused tax credits when it is probable that the Group will have future taxable profits against which these tax losses and unused tax credits can be utilised.

Deferred tax assets and liabilities are measured at the tax rates expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been adopted or substantively adopted at the reporting date.

Deferred taxes are recognised as income or expense in the income statement except where it relates to a transaction or event that is recognised directly in equity. Deferred tax is presented in specific items on the statement of financial position included in non-current assets and liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.16.*** *Segment information*

The Company operates in a single business sector: the development of neural interface and artificial intelligence technologies that enable contactless and voice-free control in consumer electronic devices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.17.*** *Others items of comprehensive income*

Income and expenses in the period which are not recognised in the income statement are presented as "Other items of comprehensive income" in comprehensive income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.18.*** *Earnings per share*

---

| | |
|:---|:---|
|  | 12.0 |
| Earnings per share are calculated by dividing net income by the weighted average number of parent company shares outstanding after restatement for treasury shares.Diluted earnings per share is calculated by dividing net income by the weighted average number of shares outstanding after restatement for treasury shares, taking into account the maximum number of shares that could be outstanding given the probability of current or future dilutive instruments being converted. |  |

---

The weighted average number of shares is the average of shares outstanding (excluding treasury shares) at the end of each month.

To date, the Company has not issued any dilutive instruments. <br>

------

Note 4. EVENTS AFTER THE REPORTING PERIOD

No significant events have occurred after the closing date.

------

**INFORMATION RELATING TO THE INCOME STATEMENT**

------

Note 5. OPERATING PROFIT

*5.1. Personnel expenses*

The amount of personnel expenses is broken down as follows:

---

| | | |
|:---|:---|:---|
| In thousands of euros | 2023 | **2024** |
| Wages, salaries | (426) | **(649)** |
| Social security costs | (105) | **(121)** |
| Commitments for employee benefits | (1) | **(2)** |
| **PERSONNEL EXPENSES** | **(532)** | **(772)** |

---

*5.2. External expenses*

---

| | | | |
|:---|:---|:---|:---|
| **In thousands of euros** | **2023** | **2024** |  |
| Sub-contracting | (82) | **(279)** |  |
| Leasing | (54) | **(62)** |  |
| Fees | (255) | **(220)** |  |
| Maintenance | (5) | **(4)** |  |
| Insurance | 13 | **(3)** | **13** |
| Bank services | (3 | **(5** | **13** |
| Bank services | (3 | **(5** |  |
| Other | (93) | **(46)** |  |
| **EXTERNAL EXPENSES** | **(479)** | **(619)** |  |

---

***5.3.*** *Depreciation and provisions*

---

| | | |
|:---|:---|:---|
| In thousands of euros | **2023** | **2024** |
| Allocations to depreciation or amortisation of non-current assets | (23) | (11) |
| Allocations to provisions |  |  |
| Reversals to provisions |  |  |
| **(ALLOCATIONS) / REVERSALS TO DEPRECIATION, AMORTISATION AND PROVISIONS** | **(23)** | **(11)** |

---

------

<br>Note 6. FINANCE INCOME

---

| | | |
|:---|:---|:---|
| In thousands of euros | **2023** | **2024** |
| &nbsp;&nbsp;Financial expenses | (63) | (77) |
| &nbsp;&nbsp;Financial income | 2 | 3 |
| &nbsp;&nbsp;**FINANCIAL INCOME** | **(61)** | **(73)** |

---

**INFORMATION RELATING TO THE STATEMENT OF FINANCIAL POSITION**

<br>Note 7. INTANGIBLE ASSETS

---

| | | | |
|:---|:---|:---|:---|
| In thousands of euros | **Gross** | **Depreciation** | ![](form1axm001.jpg) |
| *Values at 01/01/2023* | 12 | 12 |  |
| Acquisitions/allocations |  |  |  |
| <u>Disposals/reversals</u> |  |  |  |
| **Values at 12/31/2023** |  |  |  |
| Acquisitions/allocation |  |  |  |
| <u>Disposals</u>/rev |  |  |  |
| *VALU* |  |  |  |

---

**Note 8.** **TANGIBLE ASSETS**<sub>14</sub>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| In thousands of euros | **Land and**<br>**buildings** | **Technical**<br>**installations** | **Non-current**<br>**assets under**<br>**finance**<br>**leases (IFRS**<br>**16)** | **Other** | **Total** |
|  |  | 22 |  | 50 | **72** |
| **Gross Value at 01/01/2023** |  |  |  | 6 | **6** |
| Acquisitions |  | 22 |  | 56 | **78** |
| Disposals |  |  |  |  | **-** |
| **Gross Value at 12/31/2023** |  |  |  |  | **-** |
| **Gross Value at 12/31/2023** | - | 22 | - | 56 | **78** |
| Acquisitions | - | 22 | - | 56 | **78** |
| Disposals |  | (10) |  | (10) | **(20)** |
|  |  | (5) |  | (16) | **(21)** |
| **Gross Value at 12/31/2024** |  |  |  |  | **-** |
|  |  | (15) |  | (26) | **(41)** |
| Accumulated impairment as at 01/01/2023 |  | (2) |  | (7) | **(9)** |
| Allocation |  |  |  |  | **-** |
|  |  | 1 |  | (1) | **-** |
| Reversals | - | (16) | - | (33) | **(49)** |
| Accumulated impairment as at 12/31/2023 |  | 13 |  | 40 | **52** |
| Allocation | - | 8 | - | 30 | **37** |
| Reversals | - | 8 | - | 30 | **37** |
| Reversals | - | 6 | - | 22 | **28** |
| **Accumulated impairment as at** |  |  |  |  |  |
| **12/31/2024** |  |  |  |  |  |
| **Net value as at 01/01/2022** |  |  |  |  |  |
| **Net value as at 12/31/2023** |  |  |  |  |  |
| **NET VALUE AS AT** |  |  |  |  |  |
| **12/31/2024** |  |  |  |  |  |

---

------

Note 9. NON-CURRENT FINANCIAL ASSETS

---

| | | | |
|:---|:---|:---|:---|
| En milliers d'euros | **Loans**<br>**and**<br>**receivables** | ***Financial***<br>***assets at fair***<br>***value through***<br>***profit or loss*** | ![](form1axm002.jpg) |
| *Values at 01/01/2023* | 9 | 9 |  |
| Acquisitions | 38 | 38 |  |
| Disposals |  |  |  |
| Other changes |  |  |  |
| **Values at 12/31/2023** |  |  |  |
| Acquisitions |  |  |  |
| Disposals |  |  |  |
| Other cha |  |  |  |
| <u>VA</u> |  |  |  |

---

------

Note 10. WORKING CAPITAL REQUIREMENT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.1.*** *Trade and others receivables*

---

| | | | | |
|:---|:---|:---|:---|:---|
| Gross value | **01.01.2023** | **2023** | **2024** |  |
|  | **-** | **-** |  |  |
| **Trade and other receivables** |  |  |  |  |
| Other receivables | 4 | 1 | 17 |  |
| Tax and social security receivables | 78 | 261 | 37 |  |
|  |  |  | 1 | 15.0 |
| Other | 16 | 2 |  |  |
|  | **99** | **264** | **55** |  |
| Prepaid expenses |  |  |  |  |
|  | **99** | **264** | **55** |  |
| **Total other current assets** |  |  |  |  |
| **Total** |  |  |  |  |
| Depreciation | **01.01.2023** | **2023** | **2024** |  |
| **Trade and other receivables** | **-** | **-** | **-** |  |
| Other receivables |  |  |  |  |
| Tax and social security receivables |  |  |  |  |
| Other |  |  |  |  |
| Prepaid expenses |  |  | **-** |  |
| **Total other current assets** | **-** | **-** | **-** |  |
| **Total** |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| Net value | **01.01.2023** | **2023** | **2024** |
| **Trade and other receivables** | **-** | **-** | **-** |
| Other receivables | 4 | 1 | 17 |
| Tax and social security receivables | 78 | 261 | 37 |
| Other |  |  | 1 |
|  | 16 | 2 |  |
| Prepaid expenses | **99** | **264** | **55** |
| **Total other current assets** | **99** | **264** | **55** |
| **Total** |  |  |  |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.2.*** *Trade and other payables*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **01.01.2023** | **2023** | **2024** |
| Trade and other payables | 17 | 45 | 27 |
| Tax and social security payables | 30 | 67 | 68 |
| Other payables | 1 | 1 | 108 |
| Prepaid incomes |  |  |  |
| **Total other current liabilities** | **31** | **68** | **177** |
| **Total** | **48** | **113** | **203** |

---

&nbsp;&nbsp;&nbsp;&nbsp;**Note 11. CASH AND CASH EQUIVALENTS**

------

---

| | | | |
|:---|:---|:---|:---|
| In thousands of euros | **01.01.2023** | **2023** | **2024** |
| Marketable securities | 560 | 350 | **-** |
| Cash and cash equivalents | 554 | 310 | **108** |
| **Cash on statement of financial position** | **1 114** | **660** | **108** |
| Bank overdrafts and equivalent | **-** | **-** | **-** |
|  | **1 114** | **660** | **108** |
| **NET CASH POSITION** |  |  |  |

---

Marketable securities mainly comprise term accounts, stated at fair value and meeting the criteria for classification as cash equivalents.

------

Note 12. SHARE CAPITAL

As at December 31, 2024, the share capital was composed of 6 880 765 shares with a nominal unit value of 0.01 euros.

------

Note 13. EARNINGS PER SHARE

---

| | | |
|:---|:---|:---|
| **2023** | **2023** | **2024** |
| Net income (in euros) | (1 036 578) | (900 828) |
| Weighted average number of shares outstanding | 5 920 155 | 6 880 765 |
| Number of diluted shares | 5 920 155 | 6 880 765 |
| **Basic earnings per share (in euros)** | **(018)** | **(013)** |
| **Diluted earnings per share (in euros)** | **(018)** | **(013)** |

---

------

Note 14. INFORMATION ON THE FAIR VALUE OF FINANCIAL INSTRUMENTS

Information relative to the fair value of financial instruments concerns only cash and short-term investments that are measured at fair value.

------

Note 15. FINANCIAL RISK MANAGEMENT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***15.1.*** *Credit risk*

Credit risk represents the risk of financial loss for the Company in the event that a client or a counterparty to a financial instrument fails to meet its contractual obligations. The carrying amounts of financial assets represent the maximum exposure to credit risk.

*Cash and cash equivalents*

The Company's cash and cash equivalents are held with first-class banking and financial institutions. The Company considers that its cash and cash equivalents carry a very low credit risk in light of the external credit ratings of their counterparties.

*Trade receivables and contract assets*

The credit risk related to receivables from customers is considered to be managed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***15.2.*** *Interest rate risk*

The Company's interest rate risk is limited as its main borrowings are at fixed rates. The Company does not use any derivative financial instruments to hedge its interest rate risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***15.3.*** *Foreign exchange rate*

Purchases and sales are carried out almost entirely in euros, which is the company's functional currency. In the event of a significant change in exchange rates, contracts concluded with international clients provide for an adjustment of the selling price to compensate for any potential discrepancy related to currency fluctuations. The company therefore considers itself not to be exposed to significant foreign exchange risk.

---

| | |
|:---|:---|
| ***15.4.*** *Liquidity risk* | *17* |

---

Liquidity risk refers to the risk faced by the Company when it experiences difficulties in meeting its obligations related to financial liabilities that will be settled by transferring cash or other financial assets. The Company's objective in managing liquidity risk is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities as they fall due, under normal or "stressed" conditions, without incurring unacceptable losses or damaging the Company's reputation.

As of the date of this document, the cash position of the Company and its Subsidiary allows them to meet their commitments. The Company therefore considers itself not to be exposed to liquidity risk.

------

Note 16. PROVISIONS FOR EMPLOYEE BENEFITS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **01.01.2023** | **2023** | **2024** |
| Discount rate | 3.75% | 3.2% | 3.35% |
| Retirement age | 65 to 67<br>years | 65 to 67<br>years | 65 to 67<br>years |
| Salary increase rate | 1.00% | 1.00% | 1.00% |
| Turn over | Moyen | Moyen | Moyen |
| Social security rate | 45,00% | 45,00% | 45,00% |
| Mortality table | INSEE 2024 | INSEE 2024 | INSEE 2024 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.1*** *Assumptions*

Discount rate Retirement age

Salary increase rate Turn over

Social security rate Mortality table

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.2*** *Change in value of the commitments*

---

| | | | | |
|:---|:---|:---|:---|:---|
| In thousands of euros | **01.01.2023** | **2023** | ![](form1axm003.jpg) |  |
| Opening balance of the value of the commitments net of assets | **-** |  |  |  |
| Cost of past services |  |  |  |  |
| Actuarial (losses) and gains |  |  |  |  |
| Interest income (expense) |  |  |  |  |
| *Net value of the commitments* |  |  |  | 18.0 |
| Fair value of the as |  |  |  |  |
| *EMPL* |  |  |  |  |

---

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Note 17. INCOME TAX

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***18.1.*** *Analysis of tax expenses*

---

| | | |
|:---|:---|:---|
| In thousands of euros | **2023** | **2024** |
| Current tax | **-** | **-** |
| Deferred tax | **-** | **1** |
| *Total* | **-** | **1** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***18.2.*** *Current tax expense*

The current tax expense is equal to the income tax due to the tax authorities for the financial year, based on the rules and tax rates present in the various countries.

------

The applicable tax rate is 25%

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***18.3.*** *Reconciliation of tax expenses*

---

| | | |
|:---|:---|:---|
|  | **2023** | **2024** |
| Net income | (1 037) | (901) |
| Income tax |  | (1) |
| **Accounting income before tax** | **(1 037)** | **(901)** |
| Ordinary tax rate | 25,00% | 25,00% |
| **Notional tax expenses** | **(259)** | **(225)** |
| Effect on permanent differences | (39) | (54) |
| Carryforward tax loss | 298 | 279 |
| **TOTAL INCOME TAX EXPENSES** | **0** | **(1)** |

---

The valuation of deferred tax assets and liabilities is based on the way that the Group expects to recover or settle the carrying amount of assets and liabilities, using tax rates expected to apply to the year in which the asset is realised or the liability settled.

A deferred tax asset is recognised only if it is probable that the Group will have future taxable profits against which the asset can be utilised.

Carryforward deficits are not recognized in the IFRS accounts. Their potentially recognized amounts are presented below:

---

| | | | |
|:---|:---|:---|:---|
|  | *Losses<br>carried <br>forwards* | *Potential deferred<br>tax* |  |
|  |  | *assets* |  |
| As at January 1, 2023 | 1 219 | 305 | 19 |
| As at December 31, 2023 | 1 193 | 298 | 19 |
| As at December 31, 2023 | 1 193 | 298 |  |
| As at December 31, 2024 | 1 115 | 279 |  |
| **Total** | **3 527** | **882** |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***18.4.*** *Origin of deferred tax assets and liabilities*

---

| | | | |
|:---|:---|:---|:---|
| In thousands of euros | **01.01.2023** | **2023** | **2024** |
| &nbsp;&nbsp;**Deferred tax assets** |  |  |  |
| &nbsp;&nbsp;On employee benefits commitments |  | 1 | 1 |

---

------

Note 18. SEGMENT INFORMATION

The Group has only one operating segments as defined in IFRS 8 - "Operating Segments"<br>

------

Note 19. RELATED-PARTY TRANSACTIONS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20.1*** *Transactions with shareholders*

Nothing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20.2*** *Executive compensation*

For privacy reasons, the remuneration of executives cannot be disclosed. <br>

------

Note 20. OFF-BALANCE SHEET COMMITMENTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.1.*** *Commitments related to simple leases*

The rents paid under simple lease agreements entered into by the Company are not significant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.2.*** *Obligations under other contracts*

Nothing

------

Note 21. NOTE REGARDING THE TRANSITION TO IFRS STANDARDS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.1.*** *Reconciliation of equity from January 1, 2023, to December 31, 2024*

&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.*** *Differences related to IFRS 1, First-time Adoption of IFRS Standards*

IFRS 1 "First-time Adoption of International Financial Reporting Standards" deals with the procedures for the initial application of IFRS. This standard provides "first-time adopters" with a number of exemptions from the principle of retrospective application of IFRS.

*Business Combinations*

IFRS 1 provides the option not to restate business combinations prior to the transition date, which is January 1, 2023. The Company has chosen this option, and any business acquisitions made before this date have not been restated in the opening IFRS balance sheet.<br>

*Intangibles assets*

IFRS 1 offers the option to measure property, plant and equipment and certain intangible assets at their fair value at the date of transition, with this fair value being considered their deemed cost. The Company has chosen not to use this option.

&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.*** *Employee benefits*

In accounts prepared according to French standards, retirement commitments are not recorded and are disclosed as off-balance sheet commitments.

In accordance with IAS 19 "Employee Benefits," all commitments to employees must be recognized based on a discounted amount.

Commitments for retirement severance pay are subject to an actuarial calculation, which, after taking into account any dedicated funding assets, results in the recognition of a corresponding provision. The change in this liability is recorded as personnel expenses, as "Finance Costs," and as "Other Comprehensive Income" (for actuarial gains and losses).

If the value of the dedicated assets exceeds the amount of the actuarial liability, the difference is recognized as an asset on the balance sheet.

As a result of the above, net liabilities for retirement commitments are recognized (before tax effect) at:

- On January 1, 2023 : 1 K€

- On December 31, 2023 : 3 K€

- On December 31, 2024 : 4 K€.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***C.*** *Financial assets*

Under French standards, cash investments are recorded at their cost.

Under IFRS standards, they are recorded at their fair value, with a corresponding entry in financial income.

As of January 1, 2023, the company does not have any cash investments that would require revaluation at fair value.

&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.*** *Deferred taxes evaluation*

In accounts prepared according to French standards, deferred taxes are not recognized. Under IFRS, a deferred tax asset or liability is recognized in the case of a temporary difference between the tax base and the carrying amount of an asset or liability.

*Balance sheet presentation*

&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.*** *Current/Non-Current Distinction*

The Company presents Assets and Liabilities in accordance with IAS 1 'Presentation of Financial Statements,' distinguishing between 'current' and 'non-current' items. Reclassifications have been made, particularly regarding 'financial liabilities' and 'provisions for risks and charges.' Tax assets and liabilities are, by convention, presented as non-current items.

&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.*** *Deferred taxes presentation*

In accordance with IAS 1 "Presentation of Financial Statements" (§70) and IAS 12 "Income Taxes", all deferred tax assets and liabilities are classified as non-current items and presented on a separate line in the balance sheet.<br>

&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.*** *Regulated provisions*

Under French standards, regulated provisions (exceptional depreciation and investment provisions) are recorded in equity at their gross amount.

Under IFRS, regulated provisions are treated as tax-related entries. They are neutralized, taking into account a tax effect.

*Income statement presentation*

&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.*** *Research tax credit*

Expenditures incurred in research and development may give rise, under certain conditions, to a Research Tax Credit (CIR).

Under French accounting standards, the Research Tax Credit is treated as a tax income and recorded as a deduction from corporate income tax.

Under IFRS, the CIR is treated as a subsidy recorded as operating income.

&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.*** *Employee participation*

Under French standards, the amounts owed to employees under a legal Profit-Sharing agreement are recorded under exceptional income.

Under IFRS standards, this expense is reclassified under Salaries, as operating expenses.

------

&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.*** *Charge Transfers and Capitalized Production*

Under French standards, certain expenses can be reclassified in the income statement or on the balance sheet as assets through expense transfer accounts. The same applies to expenses that are capitalized, through the Capitalized Production account.

Under IFRS standards, the expense transfer accounts and capitalized production account result in the reversal of the related expenses.

&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.*** *Reversal of provision*

Under French standards, reversals of provisions are recognized as income, the nature of which (operating, financial, or exceptional) depends on that of the original allocation.

Under IFRS, reversals of provisions are recognized as a credit to the corresponding expenses.

&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.*** *Presentation of exceptional items*

In financial statements prepared in accordance with French standards, exceptional items are excluded from operating income and presented on a separate line in the income statement.

In accordance with IAS 1, Presentation of Financial Statements, exceptional items cannot be presented separately. Consequently, exceptional expenses and income have been reclassified under other operating or financial income and expenses, as appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***22.2.*** *Income statement, balance sheet, statement of changes in equity, and cash flow statement*

*Net income IFRS 2023 to 2024*

---

| | | |
|:---|:---|:---|
|  | 2023 | 2024 |
| **Net Income - French Gaap** | **(1 036)** | **9 942** |
| Provisions for employee benefits | (1) | (2) |
| Cancellation of internal transfer related to the APA | - | (10840) |
| **Net Income - IFRS Gaap** | **(1 037)** | **(901)** |

---

------

*Balance sheet as of January 1, 2023 under IFRS standards*

The table below presents a reconciliation between the balance sheet prepared according to French standards and the balance sheet prepared under IFRS as of January 1, 2023:

---

| | | | |
|:---|:---|:---|:---|
|  | *As at January 1, 2023* | *As at January 1, 2023* | *As at January 1, 2023* |
|  | *French Gaap* | *Adjustments<br>IFRS* | *IFRS Gaap* |
| Intangible assets | 9 |  | 9 |
| Goodwill |  |  |  |
| Property, plant and equipment | 52 |  | 52 |
| Non-current financial assets | 9 |  | 9 |
| Deferred tax assets |  |  |  |
| **Non-current assets** | **70** |  | **70** |
| Trade receivables |  |  |  |
| Other current assets | 287 |  | 287 |
| Cash and cash equivalents | 1 114 |  | 1 114 |
| **Current assets** | **1 401** |  | **1 401** |
| **TOTAL ASSETS** | **1 470** |  | **1 470** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *As at January 1, 2023* | *As at January 1, 2023* | *As at January 1, 2023* |  |
|  | *French Gaap* | *Adjustments****<br> IFRS* | *IFRS Gaap* |  |
| Share capital | 59 |  | 59 |  |
| Share premium |  |  |  | **24** |
| Reserves | 65 | (1) | 64 |  |
| **Equity attributable to owners of the parent** | **124** | **(1)** | **123** |  |
| Non-current provisions |  | 1 | 1 |  |
| Financial liabilities - non-current part | 1 250 |  | 1 250 |  |
| Deferred tax liabilities |  |  |  |  |
| Others non-currents liabilities |  |  |  |  |
| **Non-current liabilities** | **1 250** | **1** | **1 251** |  |
| Current provisions |  |  |  |  |
| Current financial liabilities | 48 |  | 48 |  |
| Trade payables | 17 |  | 17 |  |
| Current tax debts |  |  |  |  |
| Other current liabilities | 31 |  | 31 |  |
| **Current liabilities** | **96** | **-** | **96** |  |
| **TOTAL EQUITY AND LIABILITIES** | **1 470** | **1** | **1 470** |  |

---

------

*Cash flow statement*

The cash flow statement under IFRS does not show any significant difference from the one prepared under the French framework.

------

**Unaudited Pro Forma Condensed Combined Financial Information**

The following unaudited pro forma condensed combined financial statements (the "pro forma financial information") combine the separate historical financial information of Naqi Logix Inc. ("Naqi") and Wisear Assets and Liabilities SAS ("Wisear") after giving effect to the share purchase agreement (as described in Note 2 below), and the pro forma effects of certain assumptions and adjustments described in the accompanying notes.

The pro forma financial information gives effect to the acquisition of Wisear as if it had occurred on June 30, 2025 for balance sheet purposes, and on July 1, 2024 for statement of operations purposes. The pro forma statement of operations combines Naqi's results for the year ended June 30, 2025 with Wisear's results for the year ended December 31, 2024, representing the most recent annual period available for each entity. The six-month difference in fiscal year ends is not expected to have a material impact given the non-seasonal nature of both companies' operations, which are primarily focused on research and development activities.

The pro forma financial information should be read together with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The accompanying notes to the unaudited pro forma condensed combined financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Naqi's separate audited historical consolidated financial statements and accompanying notes as of and for the year ended June 30, 2025, included in Naqi's Annual Report on Form [1-K] for the fiscal year ended June 30, 2025, filed with the SEC on March 20, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wisear's separate audited historical consolidated financial statements and accompanying notes as of and for the year ended December 31, 2024, included herein.

In connection with the planned integration of Wisear, the Naqi anticipates that nonrecurring charges will be incurred. The timing, nature, and amount of these charges cannot be determined at this time and are not reflected in the pro forma financial information.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **June 30, 2025** | **December 31, 2024** | **Transaction Accounting Adjustments** | **Transaction Accounting Adjustments** |  |
|  |  |  | **Reclassification** | **Pro Forma** |  |
|  | **Naqi** | **Wisear** | **Adjustments** | **Adjustments** |  |
|  | **Historic** | **Historic** | **(Note 4)** | **(Note 5)** | **Proforma** |
| **Current assets** |  |  |  |  |  |
| Cash | 7509 |  | 126576 |  | 134085 |
| Restricted cash | 25865 |  |  |  | 25865 |
| Cash and cash equivalents |  | 126576 | (126576) |  |  |
| Prepaid expenses | 21371 |  |  |  | 21371 |
| Other receivables | 42366 |  | 64460 |  | 106826 |
| Current tax receivables |  | 25784 |  |  | 25784 |
| Other current assets |  | 64460 | (64460) |  |  |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **June 30, 2025** | **December 31, 2024** | **Transaction Accounting Adjustments** | **Transaction Accounting Adjustments** |  |
|  |  |  | **Reclassification** | **Pro Forma** |  |
|  | **Naqi** | **Wisear** | **Adjustments** | **Adjustments** |  |
|  | **Historic** | **Historic** | **(Note 4)** | **(Note 5)** | **Proforma** |
|  | 97111 | 216820 |  |  | 313931 |
| **Non-current assets** |  |  |  |  |  |
| Convertible loan receivable | 121900 |  |  | (121900) A |  |
| Intangible assets and goodwill | 555346 | 7032 |  | 11843060 B | 12405438 |
| Property, plant and equipment |  | 32816 |  |  | 32816 |
| Non-current financial assets |  | 44536 |  |  | 44536 |
| Deferred tax assets |  | 1172 |  |  | 1172 |
|  | 677246 | 85556 |  | 11721160 | 12483962 |
| **Total assets** | 774357 | 302376 | - | 11721160 | 12797893 |
| **Current liabilities** |  |  |  |  |  |
| Accounts payable & accrued liabilities | 3065039 |  | 237916 |  | 3302955 |
| Trade payables |  | 30472 | (30472) |  |  |
| Current financial liabilities |  | 194552 |  |  | 194552 |
| Other current liabilities |  | 207444 | (207444) |  |  |
| Share subscriptions received | 106714 |  |  |  | 106714 |
| Shareholder demand promissory note | 20000 |  |  |  | 20000 |
|  | 3191753 | 432468 |  |  | 3624221 |
| **Non-current liabilities** |  |  |  |  |  |
| Non-current provisions |  | 7032 |  |  | 7032 |
| Financial liabilities - non-current |  | 1977164 |  | (112000) A | 1865164 |
|  |  | 1984196 |  | (112000) | 1872196 |
| **Total liabilities** | 3191753 | 2416664 |  | (112000) | 5496417 |
| **Shareholders' equity** |  |  |  |  |  |
| Share capital | 10477374 | 80868 |  | (80868) C | 10477374 |
| Common share reserve | 5689512 |  |  | 9728772 C | 15418284 |
| Accumulated deficit | (18584282) |  |  | (9900) A | (18594182) |
| Reserves |  | (1138012) |  | 1138012 C |  |
| Net comprehensive income (loss) |  | (1057144) |  | 1057144 C |  |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **June 30, 2025** | **December 31, 2024** | **Transaction Accounting Adjustments** | **Transaction Accounting Adjustments** |  |
|  |  |  | **Reclassification** | **Pro Forma** |  |
|  | **Naqi** | **Wisear** | **Adjustments** | **Adjustments** |  |
|  | **Historic** | **Historic** | **(Note 4)** | **(Note 5)** | **Proforma** |
| Total shareholders' equity | (2417396) | (2114288) |  | 11833160 | 7301476 |
| **Total liabilities and shareholders' equity** | 774357 | 302376 | - | 11721160 | 12797893 |
| **Revenues and Expenses** |  |  |  |  |  |
| Revenues from operating activities |  | 304640 |  | (238308) D | 66332 |
| Expenses |  |  |  |  |  |
| Amortization | 35074 |  | 11968 |  | 47042 |
| Consulting fees and salaries | 1591884 |  | 303552 |  | 1895436 |
| Interest and bank charges | 1469 |  | 5440 |  | 6909 |
| Marketing and communication | 272295 |  |  |  | 272295 |
| Office and other | 278966 |  | 146880 |  | 425846 |
| Professional fees | 671555 |  | 239360 | (266406) E | 644509 |
| Research and development expenses | 1896577 |  | 839936 | (238308) D | 2498205 |
| Share-based compensation | 2885053 |  |  |  | 2885053 |
| Cost of sales |  | 13056 | (13056) |  |  |
| External expenses |  | 673472 | (673472) |  |  |
| Personnel expenses |  | 839936 | (839936) |  |  |
| Tax and duties |  | 8704 | (8704) |  |  |
| Depreciation and provisions |  | 11968 | (11968) |  |  |
| Total expenses | 7632873 | 1547136 | (0.00) | (504714) | 8675295 |
| **Loss before other items** | (7632873) | (1242496) |  | 266406 | (8608963) |
| **Other income (expense)** |  |  |  |  |  |
| Gain on fair value of convertible loan receivable | 9900 |  |  | (9900) A |  |
| Foreign exchange gain | 2095 |  |  |  | 2095 |
| Other operating income and expenses |  | 17408 |  |  | 17408 |
| Other non-current operating income and expenses |  | 323136 |  |  | 323136 |
| Financial income (expense) |  | (80512) |  |  | (80512) |
|  | 11995 | 260032 |  | (9900) | 262127 |
| **Loss before income tax** |  |  |  |  |  |
| Income tax recovery (expense) |  | 1088 |  |  | 1088 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **June 30, 2025** | **December 31, 2024** | **Transaction Accounting Adjustments** | **Transaction Accounting Adjustments** |  |
|  |  |  | **Reclassification** | **Pro Forma** |  |
|  | **Naqi** | **Wisear** | **Adjustments** | **Adjustments** |  |
|  | **Historic** | **Historic** | **(Note 4)** | **(Note 5)** | **Proforma** |
| **Net loss for the year** | (7620878) | (981376) |  | 256506 | (8345748) |
| **Other comprehensive (loss)** |  |  |  |  |  |
| Exchange differences on translation of foreign operations |  | (75768) |  |  | (75768) |
| **Net loss and comprehensive loss for the year** | (7620878) | (1057144) |  | 256506 | (8421516) |
| **Basic and diluted loss per share** | (0.16) | (0.15) |  |  | (0.16) |
| **Weighted average number of common shares outstanding, basic and diluted** | 48103649 | 6880765 |  | (2827111) | 52157303 |

---

<u>**1. Basis of Presentation**</u>

The accompanying unaudited pro forma condensed combined financial information has been prepared in accordance with the applicable rules and regulations of the U.S. Securities and Exchange Commission. The pro forma financial information has been prepared using accounting policies consistent with IFRS Accounting Standards as issued by the International Accounting Standards Board ("IFRS"), which the Naqi applies in its financial statements as a foreign private issuer.

The historical financial statements of Wisear for the year ended December 31, 2024 were audited by Akelys, an independent registered public accounting firm, in accordance with the standards of the Public Company Accounting Oversight Board (United States), as well as the professional standards applicable in France and the professional guidelines of the Compagnie Nationale des Commissaires aux Comptes (CNCC).

Certain information and disclosures normally included in financial statements prepared in accordance with IFRS have been condensed or omitted in accordance with SEC requirements applicable to pro forma financial information. Management believes that the assumptions used and the resulting pro forma adjustments provide a reasonable basis for presenting the significant effects of the transaction and that the presentation is adequate to make the information not misleading.

<u>**2. Description of Transaction**</u>

On December 30, 2025, Naqi entered into a binding share purchase agreement to acquire 100% of the issued and outstanding shares of Wisear by way of a share exchange. The transaction closed in February 2, 2026 (the "Acquisition Date"). Wisear is an early-stage company that develops and licenses next-generation human-computer interface technology with a focus on ear-based neural sensing for human-machine interaction in audio and mobile environments. The acquisition aligns with the Naqi's long-term strategy of developing and commercializing non-invasive neural interface technology and expands its intellectual property portfolio and technical expertise in that field.

Pursuant to the share purchase agreement, the Naqi issued 4,053,654 common shares at a deemed value of $2.40 per share for total consideration of $9,728,772. The fair value of consideration was determined with reference to the latest financing for Naqi Common Shares. No cash consideration was transferred. The acquisition of Wisear is considered to be a business combination under IFRS 3 as Wisear has inputs and processes that are capable of producing outputs.

------

<u>**3. Preliminary Fair Value Estimate of Assets Acquired and Liabilities Assumed**</u>

The purchase price allocation is preliminary and has been prepared for purposes of this pro forma financial information. Fair values assigned to identifiable intangible assets are provisional. The final allocation, to be completed within 12 months of the Acquisition Date, may differ materially from the amounts presented. Any adjustments will be applied retrospectively.

**Assets Acquired and Liabilities Assumed**

The following table summarizes the estimated fair values of identifiable assets acquired and liabilities assumed at the Acquisition Date. Intangible assets of $11,850,092 include $7,032 recognized on Wisear's historical balance sheet and a fair value step-up of $11,843,060 recognized through purchase accounting (see Note 3A). Management has confirmed that the $7,032 non-current provision is a separate liability of Wisear and is unrelated to the pre-existing intangible asset balance.

---

| | |
|:---|:---|
|  | **Fair Value ($)** |
| **Assets acquired** |  |
| Cash and cash equivalents | 126576 |
| Current tax receivables | 25784 |
| Other current assets | 64460 |
| Intangible assets and goodwill | 11850092 |
| Property, plant and equipment | 32816 |
| Non-current financial assets | 44536 |
| Deferred tax assets | 1172 |
| **Total assets acquired** | **12145436** |
| **Liabilities assumed** |  |
| Trade payables | 30472 |
| Current financial liabilities | 194552 |
| Other current liabilities | 207444 |
| Non-current provisions | 7032 |
| Financial liabilities -- non-current | 1977164 |
| **Total liabilities assumed** | **2416644** |
| **Net assets acquired** | **9728772** |
| **Total consideration transferred** | **9728772** |

---

------

**A. Identifiable Intangible Assets**

In connection with the acquisition of Wisear, the Company recognized identifiable intangible assets across the following categories: patents and patent applications, developed technology, in-process research and development, and proprietary know-how and trade secrets. The total intangible asset balance of $11,850,092 reflects $11,843,060 fair value step-up over Wisear's historical carrying amount of $7,032, consistent with the technology-intensive nature of Wisear's business and the centrality of its intellectual property to the negotiated acquisition price.

Wisear holds 4 granted patents across 2 patent families and additional patent applications relating to non-invasive brain-computer interface wearable technology, including EEG signal processing and neural interface design. The acquired engineering team of 8 employees, including the co-founding researchers, holds specialized expertise in these areas, representing approximately 7 years of accumulated research and development activity. Wisear is pre-revenue at the Acquisition Date.

As the acquisition was completed recently, a formal valuation of the acquired identifiable intangible assets has not been performed. The Company is therefore unable to determine a reliable allocation between identifiable intangible assets and goodwill at this time, and these amounts have been presented on a combined basis in the pro forma balance sheet. Any adjustments to the provisional allocation will be applied retrospectively.

<u>**4. Reclassification Adjustments**</u>

The pro forma financial statements have been adjusted to reflect reclassifications of Wisear's historical financial statements to conform to the Naqi's financial statement presentation. Wisear's financial statements are denominated in euros and have been translated into U.S. dollars in accordance with IAS 21, with assets and liabilities translated at the closing exchange rate as of June 30, 2025 of EURUSD 1.0880, and income statement amounts translated using the average exchange rate for the year then ended of EURUSD 1.1720.

**Pro Forma Balance Sheet as of June 30, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of Cash and Cash equivalents of $126,576 to Cash;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of Other current assets of $64,460 to Other receivables;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of Trade Payables of $30,472 and Other current liabilities of $207,444 to Accounts payable and accrued liabilities;

**Pro Forma Statement of Operations and Comprehensive Loss for the year ended June 30, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of Cost of Sales of $13,056 and Tax and duties of $8,704 to Office and other;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of Personnel expenses of $839,936 to Research and development expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of Depreciation and provisions of $11,968 to Amortization.

Wisear's External expenses have been reclassified across multiple line items based on a detailed review of the underlying transactions within Wisear's condensed financial statements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of External expenses of $303,552 to Consulting fees and salaries;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of External expenses of $5,440 to Interest and bank charges;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Reclassification of External expenses of $125,120 to Office and other. External expenses of $239,360 to Professional fees;

<u>**5. Adjustments to Unaudited Pro Forma Condensed Combined Balance Sheet and Statement of Operations and Comprehensive Loss**</u>

Explanations of the adjustments to the unaudited pro forma condensed combined Balance Sheet and Statement of Operations and Comprehensive Loss are as follows:

**A.** Represents the elimination of a convertible note receivable advanced to Wisear prior to the Acquisition Date, together with the corresponding note payable. As the convertible note was remeasured to fair value immediately prior to closing, a fair value gain of $9,900 was recognized in the Naqi's historical results. This gain has been eliminated as part of this adjustment as it is directly attributable to the transaction and is non-recurring in nature.

**B.** Represents the estimated fair value of acquired identifiable intangible assets that were previously not carried at fair value. (See Note 3A.)

**C.** Represents the elimination of Wisear's historical equity and the establishment of the preliminary acquisition consideration. (See Note 2.)

**D.** Represents the elimination of intercompany revenue and corresponding expenses arising from a licensing agreement between the Naqi and Wisear prior to the Acquisition Date, as these transactions do not reflect activity of the combined entity.

**E.** Represents the elimination of non-recurring acquisition-related transaction costs incurred in connection with the Wisear acquisition, as these costs are directly attributable to the transaction and will not have a continuing impact on the combined entity.

<u>**6. Acquisition Date and Post-Acquisition Results**</u>

The acquisition of Wisear closed on February 2, 2026, subsequent to the balance sheet date of June 30, 2025. Accordingly, the assets acquired and liabilities assumed are not reflected in the Naqi's historical consolidated balance sheet as at June 30, 2025, and no post-acquisition revenue or earnings of Wisear are included in the Naqi's historical consolidated statement of operations for the year ended June 30, 2025.

The pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results that would have been achieved had the acquisition been completed on those dates, or of results that may be achieved in the future.

<u>**7. Status of Acquisition**</u>

On December 30, 2025, the Company entered into a binding share purchase agreement to acquire 100% of Wisear Assets and Liabilities ("Wisear") shares via a share exchange. Wisear is early-stage company that develops and licenses next-generation human computer interface technology. The business rationale for the Wisear acquisition was to acquire its intellectual property, inclusive of its patent portfolio, as well as its technology development expertise and workforce. The acquisition closed in February 2026.

------

<u>**8. Pro Forma Earnings Per Share**</u>

The following table sets forth the computation of unaudited pro forma basic and diluted loss per share for the year ended June 30, 2025:

---

| | |
|:---|:---|
|  | **Year Ended June 30, 2025** |
| Pro forma net loss attributable to common shareholders ($) | (8421516) |
| Pro forma weighted average shares outstanding -- basic and diluted | 52157303 |
| Pro forma net loss per share -- basic and diluted ($) | (0.16) |

---

Pro forma weighted average shares outstanding reflects the Naqi's historical weighted average shares outstanding for the year ended June 30, 2025, adjusted to include the 4,053,654 common shares issued as consideration for the acquisition of Wisear as if those shares had been outstanding from July 1, 2024.

All potentially dilutive securities, including stock options and warrants, have been excluded from the computation of diluted loss per share as their effect would be anti-dilutive given the pro forma net loss position.

------

**PART III - EXHIBITS**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Exhibit No.** | &nbsp;&nbsp;**Description** |
| [Exhibit 1.1\*](exhibit1-1.htm) | [Posting Agreement with DealMaker Securities LLC](exhibit1-1.htm) |
| [Exhibit 2.1\*](exhibit2-1.htm) | [Certificate of Incorporation of Naqi Logix Inc.](exhibit2-1.htm) |
| [<u>Exhibit 2.2</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit2-2.htm) | [<u>Certificate of Change of Name. (incorporated by reference to Exhibit 2.2 on the Company's Form 1-A (File No. 024-11841) filed on March 23, 2022)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit2-2.htm) |
| [Exhibit 2.3\*](exhibit2-3.htm) | [Notice of Articles and Articles of Naqi Logix Inc. under the Business Corporations Act (British Columbia)](exhibit2-3.htm) |
| [<u>Exhibit 3.1</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit3-1.htm) | [<u>Form of Shareholder Rights Agreement of Naqi Logix Inc. (incorporated by reference to Exhibit 3.1 on the Company's Form 1-A (File No. 024-11841) filed on March 23, 2022)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit3-1.htm) |
| [<u>Exhibit 3.2</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit3-2.htm) | [<u>Form of Right of First Refusal and Co-sale Agreement of Naqi Logix Inc. (incorporated by reference to Exhibit 3.2 on the Company's Form 1-A (File No. 024-11841) filed on March 23, 2022)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit3-2.htm) |

---

------

---

| | |
|:---|:---|
| [<u>Exhibit 3.3</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit3-3.htm) | [<u>Form of Voting Agreement of Naqi Logix Inc. (incorporated by reference to Exhibit 3.3 on the Company's Form 1-A (File No. 024-11841) filed on March 23, 2022)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit3-3.htm) |
| [Exhibit 4.1\*](exhibit4-1.htm) | [Form of Subscription Agreement.](exhibit4-1.htm) |
| [<u>Exhibit 5.1</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit5-1.htm) | [<u>Form of Voting Trust Agreement. (incorporated by reference to Exhibit 5.1 on the Company's Form 1-A (File No. 024-11841) filed on March 23, 2022)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit5-1.htm) |
| [<u>Exhibit 6.1</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit6-1.htm) | [<u>Broker-dealer Agreement dated January 17, 2022 between Naqi Logix Inc. and Dalmore Group, LLC (incorporated by reference to Exhibit 6.1 on the Company's Form 1-A (File No. 024-11841) filed on March 23, 2022).</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299322008432/exhibit6-1.htm) |
| [<u>Exhibit 6.2</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324007312/exhibit6-3.htm) | [<u>Contract dated August 9, 2023 between Naqi Logix Inc. and Public Services and Procurement Canada (incorporated by reference to Exhibit 6.2 on the Company's Form 1-SA (File No. 24R-00694) filed on March 28, 2024)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324007312/exhibit6-3.htm) |
| [<u>Exhibit 6.3</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324007312/exhibit6-3.htm) | [<u>Amendment No. 1 dated November 1, 2024, to Contract originally dated August 9, 2023 between Naqi Logix Inc. and Public Services and Procurement Canada (incorporated by reference to Exhibit 6.3 on the Company's Form 1-SA (File No. 24R-00694) filed on March 28, 2024)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324007312/exhibit6-3.htm) |
| [<u>Exhibit 6.4</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324019659/exhibit6-3.htm) | [<u>Naqi Logix Equity Incentive Plan dated December 31, 2021 (incorporated by reference to Exhibit 6.3 on the Company's Form 1-A (File No. 24-12535) filed on November 25, 2024)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324019659/exhibit6-3.htm) |
| [<u>Exhibit 6.5</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324019659/exhibit6-4.htm) | [<u>Credit Card Services Agreement (incorporated by reference to Exhibit 6.4 on the Company's Form 1-A (File No. 24-12535) filed on November 25, 2024)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324019659/exhibit6-4.htm) |
| [<u>Exhibit 6.6</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324019659/exhibit6-5.htm) | [<u>Services Agreement (incorporated by reference to Exhibit 6.5 on the Company's Form 1-A (File No. 24-12535) filed on November 25, 2024)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299324019659/exhibit6-5.htm) |
| [<u>Exhibit 6.7</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-6.htm) | [<u>Employment Agreement between Naqi Logix Inc. and Sandeep Kumar Arya (incorporated by reference to Exhibit 6.6 on the Company's Form 1-A/A (File No. 24-12535) filed on February 26, 2025)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-6.htm) |
| [<u>Exhibit 6.8</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-7.htm) | [<u>Independent Contractor Agreement between Naqi Logix Inc. and 0711626 B.C. Ltd. (incorporated by reference to Exhibit 6.7 on the Company's Form 1-A/A (File No. 24-12535) filed on February 26, 2025)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-7.htm) |
| [<u>Exhibit 6.9</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-8.htm) | [<u>Amendment No.1 to Independent Contractor Agreement between Naqi Logix Inc. and 0711626 B.C. Ltd. (incorporated by reference to Exhibit 6.8 on the Company's Form 1-A/A (File No. 24-12535) filed on February 26, 2025)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-8.htm) |
| [<u>Exhibit 6.10</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-9.htm) | [<u>Employment Agreement between Naqi Logix and David Segal (incorporated by reference to Exhibit 6.9 on the Company's Form 1-A/A (File No. 24-12535) filed on February 26, 2025)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-9.htm) |
| [<u>Exhibit 6.11</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-10.htm) | [<u>Independent Contractor Agreement between Naqi Logix Inc. and Results Forge, LLC (incorporated by reference to Exhibit 6.10 on the Company's Form 1-A/A (File No. 24-12535) filed on February 26, 2025)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-10.htm) |
| [<u>Exhibit 6.12</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-11.htm) | [<u>Amendment No. 1 to Independent Contractor Agreement between Naqi Logix Inc. and Results Forge, LLC (incorporated by reference to Exhibit 6.11 on the Company's Form 1-A/A (File No. 24-12535) filed on February 26, 2025)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-11.htm) |
| [<u>Exhibit 6.13</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-12.htm) | [<u>Engagement letter between Naqi Logix Inc. and Fehr & Associates Ltd. (incorporated by reference to Exhibit 6.12 on the Company's Form 1-A/A (File No. 24-12535) filed on February 26, 2025)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299325003589/exhibit6-12.htm) |

---

---

| | |
|:---|:---|
| **IFRS FINANCIAL STATEMENTS** | **WISEA** |

---

------

---

| | |
|:---|:---|
| [Exhibit 6.14](http://www.sec.gov/Archives/edgar/data/1902337/000106299326000081/exhibit99-1.htm) | [<u>Share Purchase Agreement between Naqi Logix Inc. and Wisear Assets & Liabilities SAS (incorporated by reference to Exhibit 99.1 on the Company's Form 1-U (File No. 24R-00694) filed on January 6, 2026)</u>](http://www.sec.gov/Archives/edgar/data/1902337/000106299326000081/exhibit99-1.htm) |
| [<u>Exhibit 8.1\*</u>](exhibit8-1.htm) | [<u>Escrow Agreement</u>](exhibit8-1.htm) |
| [Exhibit 10.1\*](#page_104) | [Power of Attorney (included on signature page hereto)](#page_104) |
| [<u>Exhibit 11.1\*</u>](exhibit11-1.htm) | [<u>Consent of DMCL LLP.</u>](exhibit11-1.htm) |
| [Exhibit 11.2\*](exhibit11-2.htm) | [Consent of Sadec Akelys](exhibit11-2.htm) |
| [Exhibit 12.1\*](exhibit12-1.htm) | [Opinion of Osler, Hoskin & Harcourt LLP](exhibit12-1.htm) |

---

\* Filed Herewith

------

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada, on March 31, 2026.

---

| | |
|:---|:---|
| NAQI LOGIX INC. | NAQI LOGIX INC. |
| /s/ Mark Godsy | /s/ Mark Godsy |
| Name: | Mark Godsy |
| Title: | Chief Executive Officer |

---

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Mark Godsy his or her true and lawful attorney-in-fact and agent, with full power of substitution, for her or him and in her or his name, place and stead, in any and all capacities, to sign any and all amendments to this Form 1-A offering statement, and to file the same with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and ratifying and confirming all that said attorney-in-fact and agent or her or his substitute or substitutes may lawfully do or cause to be done by virtue hereof.

This offering statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: /s/ Mark Godsy | March 31, 2026 |
| Name: Mark Godsy |  |
| Title: Chief Executive Officer and Director<br>(Principal Executive Officer) |  |
| By: /s/ John Occhipinti | March 31, 2026 |
| Name: John Occhipinti |  |
| Title: Director |  |
| By: /s/ Gary Roshak | March 31, 2026 |
| Name: Gary Roshak |  |
| Title: Chief Technology Officer, Director |  |
| By: /s/ Sam Sullivan | March 31, 2026 |
| Name: Sam Sullivan |  |
| Title: Director |  |

---

---

| | |
|:---|:---|
| **IFRS FINANCIAL STATEMENTS** | **WISEA** |

---

------

## Ex1A-1

------

![](exhibit1-1x004.jpg)

**Order Form** <br>**Reg A (Revised)**

---

| | |
|:---|:---|
| ***Prepared for:*** Naqi Logix Inc. | ***Quote Date:***Mar 30, 2026 |
| ***Contact:*** Mark Godsy | ***Valid Until:***Apr 29, 2026 |
| ***Email:*** mgodsy@naqilogix.com | ***Proposed By:*** Jonathan Self |

---

**Billing Information**

---

| | |
|:---|:---|
| &nbsp;&nbsp;***Effective Date:*** | &nbsp;&nbsp;Mar 30, 2026 4:26:40 PM UTC-0700 |
| &nbsp;&nbsp;***Payment Terms:*** | &nbsp;&nbsp;50% Due on Signing, 50% Net 45 Days |
| &nbsp;&nbsp;***Billing Contact:*** | &nbsp;&nbsp;Bal Bhullar |
| &nbsp;&nbsp;***Billing Phone:*** | &nbsp;&nbsp;778-998-3255 |
| &nbsp;&nbsp;***Contract Billing Email:*** | &nbsp;&nbsp;Bal@naqilogix.com |
| &nbsp;&nbsp;***Accounting Billing Email:*** | &nbsp;&nbsp;accounting@naqilogix.com |
| &nbsp;&nbsp;***Billing Address:*** | &nbsp;&nbsp;100 Park Royal, Suite #200, West Vancouver British Columbia Canada V7T 1A2 |

---

**Set Up Fees**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Set Up Fees** | &nbsp;&nbsp;**Net Price** |
| &nbsp;&nbsp;DealMaker Marketing Services - Full Package Setup | &nbsp;&nbsp;$15000 |
| &nbsp;&nbsp;DealMaker Securities – Reg A Onboarding Setup | &nbsp;&nbsp;$25000 |
| &nbsp;&nbsp;DealMaker.tech Plus Setup | &nbsp;&nbsp;$5000 |
| &nbsp;&nbsp;**Total Net Setup** | &nbsp;&nbsp;**$45000** |

---

**Monthly Fees**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Monthly Fees** | &nbsp;&nbsp;**Net Price** |
| &nbsp;&nbsp;DealMaker Marketing Services - Marketing Advisory Monthly Fee | &nbsp;&nbsp;$11000 |
| &nbsp;&nbsp;DealMaker Marketing Services - Marketing Consulting Monthly Fee | &nbsp;&nbsp;$2000 |
| &nbsp;&nbsp;DealMaker.tech - Plus Platform Monthly Fee | &nbsp;&nbsp;$2000 |
| &nbsp;&nbsp;**Total Net Monthly** | &nbsp;&nbsp;**$15000** |

---

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This Order Form sets forth the terms of service by which a number of separate DealMaker affiliates are engaged to provide services to Customer (collectively, the "**Services**"). By its signature below in each applicable section, Customer hereby agrees to the terms of service of each company referenced in such section. Unless otherwise specified above, the Services shall commence on the date hereof.

By proceeding with its order, Customer agrees to be bound contractually with each respective company. The Applicable Terms of Service include and contain, among other things, warranty disclaimers, liability limitations and use limitations.

In particular, Customer understands and agrees that it is carrying out a self-hosted capital raise and bears primary responsibility for the success of its own raise. No DealMaker entity is ever responsible for the success of Customer's offering and no guarantees or representations are ever in place with respect to (i) capital raised (ii) investor solicitation or (iii) completion of investor transactions with Customer. Customer agrees and acknowledges that online capital raising is uncertain, and that nothing in this agreement prevents Customer from pursuing concurrent or sequential alternative forms of capital raising. Customer should use its discretion in choosing to engage the vendors described in this Agreement and agrees that such entities bear no responsibility to Customer with respect to raising capital.

There shall be no force or effect to any different terms other than as described or referenced herein (including all terms included or incorporated by reference) except as entered into by one of the companies referenced herein and Customer in writing.

A summary of Services purchased is described in the Schedule "Summary of Compensation" attached. The applicable Terms of Service are described on the Schedules thereafter, and are incorporated herein.

Services NEVER include providing any investment advice nor any investment recommendations to any investor.

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---

| | |
|:---|:---|
| &nbsp;&nbsp; Naqi Logix Inc. | &nbsp;&nbsp; Naqi Logix Inc. |
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;Mark Godsy |
| &nbsp;&nbsp;**Title** | &nbsp;&nbsp;CEO |
| &nbsp;&nbsp;**Signature** | ![](exhibit1-1x001.jpg) |
| &nbsp;&nbsp;**Date** | &nbsp;&nbsp;Mar 30, 2026 4:26:40 PM UTC-0700 |

---

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**Schedule "Summary of Compensation"**

**A. Regulation A Offering**

∙ **$45,000 One-Time Advances** (advances against accountable expenses anticipated to be incurred, and refunded to extent not actually incurred)

*This advance includes:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. $25,000 prepaid to DealMaker Securities LLC ("Broker") for Pre-Offering Analysis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. $5,000 prepaid to Novation Solutions Inc. ("DealMaker") for infrastructure for self-directed electronic roadshow

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. $15,000 prepaid to DealMaker Reach, LLC (O/A DealMaker Marketing Services) ("Marketing Services")for consulting and developing materials for self-directed electronic roadshow

**∙ $13,000 monthly account management compensation.**

o Monthly account management and software access commences in the month of the Commencement date. If no Commencement date is stated on the Order Form, services and invoices for those services commence in the first month following the Effective Date.

o It is expected services will commence in advance of the offering being qualified, and therefore

compensation in the form of advances against accountable expenses anticipated to be incurred, and fully refunded to extent not actually incurred, will be collected associated with services. A maximum of $39,000 or three months of account management compensation is payable prior to qualification of the offering containing the Services.

o After the commencement of the offering, monthly compensation includes:

∙ $2,000 account maintenance fees payable to DealMaker (up to a maximum of $18,000 during the Offering)

∙ $11,000 marketing advisory fees payable to Marketing Services (up to a maximum of $99,000 during the Offering)

**∙ 4.5% Commission on Cash Compensation From All Proceeds:**

o Cash compensation does not include processing investor refunds for Customers, which are chargeable at $50.00 per refund.

o Customer shall be responsible for third-party fees with respect to payment processing.\* These are to be disclosed as separate selling related expenses in the Form 1-A and Offering Statement for the offering and not connected to Broker of its affiliates.

o Customer may elect to offset all or a portion of these fees by levying an administrative fee to investors. The Cash Compensation would also be applied to the collection of the administrative fee from the investors.

**∙ Media Management Services to be determined on a case-by-case basis, as may be authorized by the Customer, up to a maximum of an additional $277,874.97 of compensation during the Offering.**

**∙ $3,278.75 in Corporate Filing Fees (payable to Broker to be remitted to FINRA).** All Corporate Filing Fees for the initial filing are due and to be paid prior to submission of the 5110 Filing to FINRA. This fee is dynamic based on changes to the aggregate offering total, so if there are changes to the offering that increase the price or number of securities being sold prior to the offering termination, the FINRA fee will increase. Any additional fee will be invoiced prior to or at the time of submission and due upon receipt.

**\*Fees are estimated to be approximately 2% of offering proceeds.**

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**Fair Compensation**

To ensure adherence to FINRA's fair compensation guidelines, Broker is required to set the maximum underwriting compensation to be received in the Offering. Components of compensation for Services are tied to the total aggregate offering price (maximum value of the offering including administrative fees, bonus shares, value of underlying securities. Changes to the value will change the Maximum Compensation described here. Broker will ensure that, in any scenario, the aggregate compensation payable to Broker and its affiliates in respect of Services related to the Offering shall never exceed a maximum amount.

If the Offering is fully subscribed, the maximum amount of underwriting compensation will be $1,177,499.92, for an aggregate offering price of $18,524,998.07.

*\*In the event that the Financial Industry Regulatory Authority ("FINRA") Department of Corporate Finance does not issue a no objection letter for the Offering, all underwriting compensation paid is fully refundable other than for services actually rendered.*

**B. Non-Regulation A Offering Fees**

**∙ $2,000 monthly consulting fees to Marketing Services for branding and marketing services unrelated to the Offering.**

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**Schedule "Scope of Marketing Services"**

(provided by DealMaker Marketing Services)

Full Marketing Compensation Includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Website Design and Development:

∙ Copywriting and design of the website with up to 3 rounds of revisions at the copywriting stage and design stage each.

∙ Development of the website using Webflow.

∙ Integration of tracking, analytics, and pixels.

∙ Ongoing maintenance and management of website content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Audience-Building Infrastructure:

∙ Audience building through email capture on landing pages.

∙ Creation of the following email series:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. Investor educational email series (4 to 6 emails)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. Post investment series (1-2 emails)

∙ Design and implementation of email capture in Klaviyo.

∙ Integration of DealMaker webhooks to build and track the investor funnel and status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Conversion Rate Optimization (CRO):

∙ Continuous testing of website content to improve conversion rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Email Marketing:

∙ Ongoing nurturing of the email list with updates repurposed from the Customer's campaign announcements, relevant news, and webinars.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Ad Creative

∙ 4-6 image assets resized for all channels

∙ 2-3 video assets resized for all channels

∙ 3-4 copy variations applicable to respective channels

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Paid Media

∙ Management of Google ADs including Search, Display, Google Discovery, and YouTube ads.

∙ Management of Meta Ads (Facebook & Instagram) as well as Twitter/X ads upon request.

∙ Ongoing testing of ad copy and creative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Media Network:

∙ Sourcing and negotiating private media placements with relevant publishers and email newsletters.

∙ Purchases of media placements will include a fee equal to 15% of the total spend. Aggregate fees shall not exceed the maximum listed in "Schedule: Summary of Compensation"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Reporting:

∙ Regular calls: bi-weekly

∙ Strategic planning, implementation, and execution of the marketing budget.

∙ Coordination with third-party agents in connection with the performance of services.

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∙ Monthly forecasting.

∙ Monthly and bimonthly report generation.

Customer is responsible for reviewing items 1 through 8 with Customer's professional advisors, as required

Marketing Services monthly fee will commence in the first month following **the Effective Date**.

COMPENSATION NOT INCLUDED

∙ Expenses

**Marketing Services are provided by DealMaker Reach, LLC (O/A DealMaker Marketing Services). Customer hereby agrees to the terms set forth in the DealMaker Marketing Services Terms of Service, with compensation described on Schedules "Summary of Compensation" and "Scope of Marketing Services" hereto.**

---

| | |
|:---|:---|
|  **Customer**<br> **Signature** | ![](exhibit1-1x002.jpg) |

---

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**Schedule "Broker Dealer Services" (DealMaker Securities LLC)**

**Pre-Offering Analysis**

∙ Reviewing Customer, its affiliates, executives and other parties as described in Rule 262 of Regulation A, and consulting with Customer regarding the same.

**Pre-Offering Consulting for Self-Directed Electronic Roadshow**

∙ Reviewing with Customer on best business practices regarding raise in light of current market conditions and prior self-directed capital raises

∙ Reviewing with Customer on customization for investor questionnaire, selection of webhosting services, and template for campaign page

∙ Advising Customer on compliance of marketing material and other communications with the public with applicable legal standards and requirements

∙ Providing advice to Customer on content of Form 1A and Revisions

∙ Assisting in the preparation of SEC and FINRA filings

∙ Working with the Client's SEC counsel in providing information to the extent necessary

**Advisory, Compliance and Consulting Services During the Offering**

∙ Reviewing investor information, including identity verification, performing AML (Anti-Money Laundering) and other compliance background checks, and providing Customer with information on an investor in order for Customer to determine whether to accept such investor into the Offering;

∙ If necessary, discussions with the Customer regarding additional information or clarification on an Customer-invited investor;

∙ Coordinating with third party agents and vendors in connection with performance of services;

∙ Reviewing each investor's subscription agreement to confirm such investor's participation in the offering and provide a recommendation to the company whether or not to accept the subscription agreement for the investor's participation;

∙ Contracting and/or notifying the company, if needed, to gather additional information or clarification on an investor;

∙ Providing ongoing advice to Customer on compliance of marketing material and other communications with the public, including with respect to applicable legal standards and requirements;

∙ Reviewing with Customer regarding any material changes to the Form 1A which may require an amended filing; and

∙ Reviewing third party provider work-product with respect to compliance with applicable rules and regulations.

**Customer hereby engages and retains DealMaker Securities LLC, a registered Broker-Dealer, to provide the applicable services described above. Customer hereby agrees to the terms set forth in the DealMaker Securities Terms, with compensation described on Schedule "Summary of Compensation" hereto.**

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---

| | |
|:---|:---|
|  **Customer**<br> **Signature** | ![](exhibit1-1x002.jpg) |

---

**Schedule**

**"DealMaker.tech Subscription Platform and Shareholder Services Online Portal"**

**During the Offering, Subscription Processing and Payments Functionality**

∙ Full analytics suite to track all aspects of the offering and manage the conversion of prospective investors into actual investors.

**Apart from the Offering, Shareholder Management via DealMaker Shareholder Services**

∙ Access to DM Shareholder Management Technology to provide corporate updates, announce additional financings, and track engagement

∙ Document-sharing functionality to disseminate share certificates, tax documentation, and other files to investors

∙ Monthly compensation is payable to DealMaker.tech while the client has engaged DealMaker Shareholder Services

**Subscription Management and DM Shareholder Management Technology is provided by Novation Solutions Inc. O/A DealMaker. Customer hereby agrees to the terms set forth in the DealMaker Terms of Service with compensation described on Schedule "Summary of Compensation" hereto.**

---

| | |
|:---|:---|
|  **Customer**<br> **Signature** | ![](exhibit1-1x002.jpg) |

---

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![](exhibit1-1x005.jpg)

**DEALMAKER TERMS OF SERVICE**

These Terms of Services **("Terms")** govern access to the software and services provided by any of the DealMaker entities such as Novation Solutions Inc., O/A DealMaker (**"DealMaker.tech"**), DealMaker Reach, LLC (**"DM Reach"**), DealMaker Securities LLC (**"DMS"**) and DealMaker Transfer Agent LLC, O/A DealMaker Shareholder Services (**"DMTA"**) (individually, each a **"DealMaker Entity"** and collectively, the **"DealMaker Entities"**). Each of the entities may be referred to as **"DealMaker"** or the **"Company"** in these Terms.

These Terms have legal implications. It is important that you read these terms carefully and consult legal counsel if you determine that is appropriate, in order to understand these Terms.

The Terms, together with the DealMaker order form from which this page was linked (**"Order Form"**), form an agreement between the Customer (as defined in the order form) and the applicable DealMaker entit(ies) being engaged for technology or services (each an **"Agreement"**). Each of these Agreements may be referred to as "an Agreement" or "the Agreement" in these Terms.

Each Agreement contains, among other things, warranty disclaimers, liability limitations and use limitations. Each Agreement also contains an arbitration provision which is enforceable against the parties and may impact your rights and obligations. By signing the Order Form and using the DealMaker Entity services described in such Order Form, Customer accepts and agrees to be bound by these Terms.

These Terms apply to all DealMaker Entities unless a DealMaker Entity is explicitly excluded or alternative terms are supplemented, as indicated below.

**<u>1. Definitions</u>**

**"Account"** means Investment funds deposited in Customer's account with a financial institution by (i) Customer's investors directly, funded via wire or check or (ii) a third party payment processor, prior to the Closing of any transaction involving such investments.

**"Closing"** means the resolution of all applicable AML-related exceptions or discrepancies identified through any searches provided by third parties through Company or otherwise identified by or to Company for all transactions associated with an investment and the acceptance by the Customer of the investment associated with such transactions.

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**"Closing Date"** means the date of each Closing.

**"Commencement Date"** occurs in the month the Customer begins paying monthly subscription fees. If no Commencement Date is stated on the Order Form, monthly subscription fees are payable in the month following the Effective Date.

**"Customer Payment Processing Account"** means a Customer's account with a third party payment processor into which Customer deposits investment funds.

**"DM Shareholder Management Technology"** means DealMaker's investor communication functionality technology and/or services provided by DealMaker.tech.

**"Effective Date"** is the date the Agreement is signed.

**"Escrow Account"** means Customer's third party escrow account into which Customer directs investment funds from Investors.

**"Improvements"** means any improvements, updates, variations, modifications, alterations, additions, error corrections, enhancements, functional changes or other changes to the Software, including, without limitation: (i) improvements or upgrades to improve software efficiency and maintainability; (ii) improvements or upgrades to improve operational integrity and efficiency; (iii) changes or modifications to correct errors; and (iv) additional licensed computer programs to otherwise update the Software.

**"Intended Purpose"** means Customer's use of the Software to raise capital online via technology or services provided by DealMaker.tech.

**"Offerings"** refers to online capital formation transactions completed by Company's Customers or Customer's clients, using the Software.

**"Software"** means the DealMaker™ cloud-based software program developed by Company, including its features, functionality, performance, application and use, any related printed, electronic and online documentation, manuals, training aids, user guides, system administration documentation and any other files that may accompany the Software used by the Customer.

**"TOS"** means the DealMaker.tech website terms of service located at https://www.dealmaker.tech/terms.

**<u>2.</u> <u>Term and Termination</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>2.1.</u> <u>Term</u>**

**Unless otherwise stated in the Order Form, the Agreement will remain in effect from the Effective Date until the first day of the month following the completion of an Offering ("Term"). The Term for DMTA is set forth in the DMTA terms.**

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>2.2. Billing Terms</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.1. <u>One-Time Advances/Setup Billing</u>: Unless otherwise specified in the Order Form, one-time advances/setup charges are only invoiced once, prior to the commencement of Services. With the payment of these invoices, Services would begin.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.2. <u>Monthly Invoices</u>: Unless otherwise specified in the Order Form, charges for monthly account management will be invoices monthly, in arrears, and reflect accountable expense totals for Services in advance of an offering's qualification or account management fees associated with ongoing services after the offering's qualification. These would continue to be invoiced monthly for the term of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.3. <u>DM Shareholder Management Technology Fees</u>: DM Shareholder Management Technology is a service offered by DealMaker.tech. Unless otherwise specified in the DealMaker.tech or DMTA fee schedules to your Order Form, fees for use of the DM Shareholder Management Technology, when applicable, are invoiced monthly and the services can be canceled within any month upon written notice, effective the month following cancellation of DealMaker.tech services, except for DMTA Customers. Cancellation of fees for use of DM Shareholder Management Technology for DMTA customers is governed by the DMTA terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.4. <u>DealMaker Transactional Fees</u> are incurred at the time of each transaction and charged on a monthly basis in arrears or collected at time of service, as specified in the Order Form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2.5. **<u>Payment.</u>** DealMaker shall be compensated as set out in the Order Form. Unless otherwise specified in the schedules to the Order Form, required by a third party vendor or required by an applicable law or regulation, Customer will be invoiced on a monthly basis. Payment will be automatically debited from the Customer's, third party payment processor treasury account, bank account or credit card on file, with a receipt to be automatically delivered. Invoices will be available for the Customer to review upon request. In the event that any Customer payment fails, in respect of any invoice due and payable to a DealMaker Entity (**"Aged Invoice"**), Customer must re- connect its, third party payment processor treasury account, bank account or update credit card within fourteen (14) days and submit payment for any Aged Invoice. Unless Aged Invoices are cleared and accounts are brought back into good standing within 14 days, automated payouts and reconciliation reporting will be disabled. In the event the Aged Invoices are not cleared, or accounts are not brought back into good standing within 30 days, all services will be paused until payment is received and the Customer's, third party payment processor treasury account, bank account or credit card authorization is restored. DealMaker reserves the right to debit from Customer's credit card authorization on file or authorized payment account in respect of any Aged Invoice thirty days or older, unless the Customer disputes the charges in writing.

**<u>2.3.</u> <u>Termination</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.1. <u>Termination for Cause</u>. Customer or any DealMaker Entity may terminate this Agreement immediately for Cause, as to any or all Subscription services. "Cause" includes a determination that a party is acting, or have acted, in a way that has negatively reflected on or impacted or may negatively reflect on or impact the other party, its prospects, or its customers, including without limitation in a way that violates or causes a violation of applicable law or regulation. Upon termination for cause, there are no additional fees incurred. All prepaid unused fees would be returned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.2. Otherwise, an Agreement may only be terminated as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Material Breach</u>: A party may terminate this Agreement upon sixty (60) days written notice if the breaching party fails to perform or observe any material term, covenant, or condition to be performed or observed by it under this Agreement and such failure continues to be unremedied after sixty (60) days' written notice of such failure from Company to Customer.

If the breach has not been cured within the sixty-day period, the non-breaching party may terminate this Agreement forthwith and may immediately exercise any one or more of the remedies available to it under the Terms of this Agreement, in addition to any remedy available at law. Any compensation paid to the Company prior to the qualification of an offering, if those expenses have not been incurred, would be returned by Company to the Customer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Customer Default</u>. If Customer defaults in performing its obligations under an Agreement, Company may terminate this Agreement (i) upon written notice if any material representation or warranty made by Customer proves to be incorrect at any time in any material respect or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) upon written notice, in order to comply with a legal requirement, if such compliance cannot be timely achieved using commercially reasonable efforts, after Company has provided Customer with as much notice as practicable; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Right of Termination - Insolvency/Bankruptcy</u>: A party may terminate an Agreement immediately, if the other party becomes the subject of a petition in bankruptcy or any other proceeding relating to insolvency, cessation of business, liquidation or assignment for the benefit of creditors, reorganization or other relief, or is adjudged bankrupt or insolvent or has entered against it a final and unappealable order for relief, under any bankruptcy, insolvency, or other similar law. In the event of Company insolvency, all of the Customer's assets are immediately released.

**(collectively, "Termination Reasons")**

Other than the Termination Reasons, unless explicitly stated otherwise, an Agreement may not otherwise be terminated prior to the end of the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.3. The termination of an Agreement as described herein shall not exclude the availability of any other remedies. Any delay or failure by either party to exercise, in whole or in part, any right, power, remedy or privilege shall not be construed as a waiver or limitation to exercise, in whole or in part, such right, power, remedy or privilege.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3.4. All terms of an Agreement, which should reasonably survive termination, shall survive, including, without limitation, confidentiality, limitations of liability and indemnities, arbitration and the obligation to pay compensation relating to services provided by the DealMaker Entity prior to termination.

**<u>3.</u> <u>Intellectual Property</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. <u>Title</u>. Company retains title to and sole ownership of the Software and all Improvements.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2. <u>Cloud-Based Software</u>. The Software is cloud based. As such, the source and object code are located on servers outside of the Customer's premises. Customer shall have no access to the facilities at which the Software is hosted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3. <u>Intellectual Property</u>. All Intellectual Property, Intellectual Property Rights and distribution rights associated with or arising from Company's Confidential Information including but not limited to the Software, remain exclusively with Company. **"Intellectual Property"** includes, without limitation, with respect to all DealMaker Products: all technical data, designs, specifications, software, data, drawings, plans, reports, patterns, models, prototypes, demonstration units, practices, inventions, methods and related technology, processes or other information, and all rights therein, including, without limitation, patents, copyrights, industrial designs, trade-marks and any registrations or applications for the same and all other rights of intellectual property therein, including any rights that arise from the above items being treated by the parties as trade secrets (the rights being **"Intellectual Property Rights."**)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>3.4.</u> <u>Restrictions.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.1. Customer may not: (i) modify, enhance, reverse-engineer, decompile, disassemble or create derivative forms of the Software; (ii) copy the Software; (iii) sell, sub-license, lease, transmit, distribute or otherwise transfer rights in/to the Software; (iv) allow third-party use of the Software installed at the Site; or (v) pledge, hypothecate, alienate or otherwise encumber the Software to any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.2. Use of the Software is restricted to the Intended Purpose only. Customer agrees not to engage in any activity restricted by the TOS or transfer any information restricted by the TOS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4.3. Customer acknowledges that unauthorized reproduction or distribution of the Software is expressly prohibited by law and may result in civil and criminal penalties. Violators may be prosecuted. Customer may not reverse engineer, decompile, disassemble or otherwise attempt to discover the source code of the Software, DealMaker website or any part thereof, except and only to the extent that such activity is expressly permitted by applicable law notwithstanding this limitation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5. Customer represents and warrants that any Customer assets or materials provided and the intended use thereof in accordance with the terms of each Agreement, will not infringe, violate, or misappropriate any third party rights, including without limitation, any copyrights, trademarks, trade secrets, privacy, publicity, or other proprietary or intellectual property rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6. Customer represents and warrants that Customer will not to bid on or use any DealMaker Entity trademarks, brand names, or any variations thereof in Customer's paid search advertising campaigns. This includes, but is not limited to, Google AdWords, Bing Ads, and other search engine marketing platforms. Unless otherwise provided for in the Agreement, Customer shall not:

3.6.1.bid on or use our trademarks as keywords in Customer's paid search campaigns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.2. include DealMaker Entity trademarks in Customer's ad copy, display URL, or landing page URL; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.3. use any misspellings, variations, or confusingly similar terms to DealMaker Entity trademarks in Customer's paid search activities;

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DealMaker reserves the right to monitor and enforce compliance with these trademark bidding restrictions.

**<u>4.</u> <u>Confidential Information</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. **"Confidential Information"** means any and all confidential or proprietary information of DealMaker or Customer, including affiliates thereof, which has been or may be disclosed by one party to this Agreement ("Disclosing Party") to the other party ("Receiving Party"), at any time prior to and during the Agreement Term, including, without limitation, the names of employees and owners, the names or other personally identifiable information of customers, business and marketing information, technology, know- how, ideas, reports, techniques, methods, processes, uses, composites, skills, and configurations, intellectual property of any kind and all documentation provided by investors in the Offering. Without limiting the generality of the foregoing, DealMaker's Confidential Information includes: (i) the Software; (ii) the computer code underlying the Software, including source and compiled code and all associated documentation and files; (iii) information relating to the performance or quality of the Software and services provided by the DealMaker Entity; (iv) the details of any technical assistance provided to Customer during the Term; (v) any other products or service made available to Customer by DealMaker during the Agreement Term; and (vi) information regarding DealMaker's business operations including its research and development activities. All work product, pricing, Agreement terms and process information of either party exchanged with the other party to perform the terms of the Agreement is agreed to be Confidential Information, except that any logos or marketing references are not Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. **"Confidential Information"** does not include information that: (i) is or has become generally known to the public without any action by the non-disclosing party; (ii) was known by either party prior to entering into the Agreement; (iii) was independently determined by either party; or (iv) was disclosed to the relevant party without restriction by a third party who, to the best of such party's knowledge and belief, had no obligation not to disclose such information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. Neither party may disclose Confidential Information without the express written consent of the other party, except as specifically contemplated in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. <u>Trade Secrets.</u> Notwithstanding anything to the contrary herein, with respect to Confidential Information that constitutes a trade secret under the laws of any jurisdiction, such rights and obligations shall survive such expiration or termination until, if ever, such Confidential Information loses its trade secret protection other than due to an act or omission of the receiving Party or its Representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. By executing this Agreement, the Customer is providing written consent for DealMaker to disclose Confidential Information but only to the extent required to carry out the terms of this Agreement. Customer's investors will be required to sign-in to the DealMaker.tech portal and agree to the DealMaker.tech TOS. The parties agree that this process shall not constitute a disclosure of "Confidential Information" as described in this section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6. Notwithstanding anything in this section, Customer and DealMaker hereby agree that each party may use the other party's logo for promotional purposes (**"Logo Use"**). The parties acknowledge that Logo Use does not include the use of any descriptive copy, all of which must be approved by Customer and DealMaker in writing. Except as provided for in this paragraph, nothing contained in this Agreement will be construed as granting Customer or DealMaker any right, title or interest in or to any or to use any of the other party's Confidential Information. Customer or DealMaker may terminate Logo Use at any time, with or without cause, upon written notice to the other party. For any Customer conducting an offering using the DealMaker Software (i.e. Regulation A, Regulation CF, or public offerings), in which the offering is already in the public domain, Customer agrees that DealMaker may disclose Customer name and offering proceeds to third party data aggregators for the purpose of generating industry reports. Industry reports shall not include publication of Customer name or the amount raised.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7. <u>Authorized Disclosure</u>. Each party may, without the consent of the other party, disclose Confidential Information to the extent reasonably necessary to comply with applicable regulatory demands or orders in connection with the purpose for which the Customer enters into this Agreement. Each party may disclose the existence of this Agreement and any relationship between the parties.

**<u>5.</u> <u>Exclusion of Warranties</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. Except as expressly stated in this Agreement, DealMaker makes no representations or warranties or covenants to Customer, either express or implied, with respect to the Software, services provided by the DealMaker Entity or with respect to any Confidential Information disclosed to Customer. DealMaker specifically disclaims any implied warranty or condition of non-infringement, merchantable quality or fitness for a particular purpose. Customer acknowledges that the Software is in continuous development and that it has been advised by DealMaker to undertake its own due diligence with respect to all matters arising from this Agreement. All services are provided on an "as is" and "as available" basis without any warranties, express or implied, including, without limitation, implied warranties of merchantability or fitness for a particular purpose, and DealMaker expressly disclaims all warranties. Customer agrees and understands that no DealMaker entity has any fiduciary duty to Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. <u>No Improvements</u>. Company is under no obligation to provide Improvements to the Software during the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. <u>Any Improvements Gratuitous</u>. Any Improvements provided by DealMaker to Customer from time to time during the Term shall be, unless otherwise stated, construed as being provided on a purely gratuitous basis and shall not give rise to any right or entitlement on the part of Customer, except as otherwise specifically provided in this Agreement. Any Improvements so provided shall be governed by the same terms and conditions applicable to the Software, as described herein, unless otherwise outlined in a fee schedule or addendum to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4. <u>No Future Entitlement.</u> Nothing in this Agreement shall be construed as creating any obligation on DealMaker to continue to develop, commercialize, offer, make available or support (i) the Software; or (ii) any feature, functionality or Improvement as may be encompassed in the Software from time to time during the Term, beyond the duration of the Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5. <u>Company Templates and Samples are Provided with No Warranties</u>. Customer may request access to DealMaker's templates and resources to help organize and set up an offering or any communications related thereto. These resources may include template communications, educational packages, resources for the management of administrative and collaborative tasks, and best practices observed from other offerings and industries. Customer acknowledges and agrees that, by providing access to any documents, training, or resources, DealMaker is not rendering and shall not be deemed to have rendered any legal, tax, investment, or financial planning advice. Customer shall, as it deems necessary or advisable, consult its own legal, tax, investment, or financial planning advisers. All templates and samples are provided with no warranties whatsoever and by making use of such materials, Customer is agreeing to voluntarily assume any liability with respect thereto.

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**<u>6. Limitation and Exclusion of Liability</u>**

Unless otherwise specified herein, in no event is DealMaker's liability for any damages on any basis, in contract, tort or otherwise, of any kind and nature whatsoever, arising in respect of this Agreement, howsoever caused, including damages of any kind and nature caused by DealMaker's negligence or by a breach of contract or any other breach of duty whatsoever, to exceed the fees actually paid to DealMaker by Customer during the Term. Customer acknowledges that DealMaker has set its fees under this Agreement in reliance on the limitations and exclusions of liability set forth in this Agreement and such reliance forms an essential basis of this Agreement.

**<u>7. Indemnification</u>**

<u>Applicability of Indemnification Clause:</u> Customers of DMTA are bound by the separate indemnification clauses applying only to DMTA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1. **Indemnification by Customer**. Customer shall indemnify and hold each DealMaker Entity, its affiliates and their respective members, officers, directors and agents (**"Indemnified Parties"**) harmless from any and all actual or direct losses, liabilities, claims, demands, judgements, arbitrations awards, settlements, damages, direct fees, costs and expenses (including attorney fees and costs) (collectively **"Losses"**), resulting from or arising out of any third party suits, actions, claims, demands, investigations or similar proceedings (collectively **"Claim"**) to the extent they are based upon (i) a breach of this Agreement by Customer, (ii) the wrongful acts or omissions of Customer, (iii) Customer, or Customer's clients' engagement with DealMaker and any actions taken in conjunction therewith, including but no limited to usage of the Software, whether or not such activities are in accordance with Intended Usage or (iv) the Offering. **"Losses"** includes, losses arising from payment processing which are losses arising from chargebacks, clawbacks, payment reversals, fraudulent charges, insufficient credit, unauthorized charges, claims of Customer or third parties regarding payment disputes, and any other problems relating to card or ACH payments made for the benefit of Customer (**"Payment Processing Losses"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2. **Indemnification by Company.** The applicable DealMaker Entity shall indemnify and hold Customer, Customer's affiliates and Customer's representatives and agents harmless from any Losses resulting from or arising out of Claims to the extent they are based upon (i) such DealMaker Entity's breach of this Agreement (ii) the negligence, fraud, bad faith or willful misconduct of the DealMaker Entity or (iii) DealMaker Entity's failure to comply with any applicable laws in the performance of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3. **Indemnification Procedure**. If any proceeding is commenced against a party entitled to indemnification under this section, prompt notice of the proceeding shall be given to the party obligated to provide such indemnification. The indemnifying party shall be entitled to take control of the defense, investigation or settlement of the Proceedings and the indemnified party agrees to reasonably cooperate, at the indemnifying party's cost in ensuing investigations, defense or settlement. The indemnifying party shall reimburse the indemnified party for all expenses (including reasonable fees, disbursements and other charges of counsel) as they are incurred in connection with investigating, preparing, pursuing, defending, or settling a Claim (including without limitation any shareholder or derivative action); provided, however, that indemnifying party will not be liable to indemnify and hold harmless or reimburse an indemnified party pursuant to this paragraph to the extent that an arbitrator (or panel of arbitrators) or court of competent jurisdiction will have determined by a final non-appealable judgment that such Claim resulted from the gross negligence or willful misconduct of such indemnified party. The Indemnifying Party will not settle, compromise or consent to the entry of a judgment in any pending or threatened Claim unless such settlement, compromise or consent includes a release of the indemnified parties satisfactory to the indemnified parties.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4. **Indemnified Party Limitation Of Liability**. In no event shall the Indemnified Parties be liable or obligated in any manner for any consequential, exemplary or punitive damages or lost profits incurred by Customer arising from or relating to the Agreement, an Offering, or any actions or inactions taken by an Indemnified Parties in connection with the Agreement, and the Customer agrees not to seek or claim any such damages under any circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5. **Recovery of Payment Processing Losses.** Notwithstanding anything to the contrary in this Agreement, upon Company giving Customer prior written notice of no less than five business days, DealMaker.tech shall have the right, in its sole discretion, to request Customer reimburse Company for Payment Processing Losses from Customer Account or from Customer's Payment Processing Account, unless prohibited by law. Customer acknowledges and agrees that recovery of Losses from Customer's Payment Processing Account will not serve as any limitation on the indemnification obligations of Customer under this Agreement or any remedy or claim that Company may be entitled to pursue against Customer in respect of such Losses.

**<u>8.</u> <u>Third Party Services</u>**

Customer may request introductions to DealMaker's network of partners and vendors for the purpose of sourcing additional services (including but not limited to, a call center, marketing support, investment relations). Unless otherwise specified in writing, all engagements with third parties in this respect are to be made directly between the Customer and the vendor at the Customer's discretion. Customer acknowledges and agrees that, by making such introductions, DealMaker is not recommending and shall not be deemed to have recommended any partner or vendor's products or services or to have assumed any responsibility for Customer's selection of any partner or vendor or procurement of such products or services.

Without limiting any other protection of DealMaker under this Agreement and notwithstanding anything to the contrary, DealMaker shall bear no responsibility or liability whatsoever in connection with any third party services provided by a vendor engaged by Customer, the decision to engage such vendors rests solely with the management of the Customer on the terms contracted between the Customer and such parties.

**<u>9. Escrow</u>**

Customer acknowledges that if Customer opens a third-party escrow account (either by Customer's choice or as necessary to comply with applicable laws or regulations) in connection with the Company services, Customer will apply for escrow account with a DealMaker-approved escrow provider.

**<u>10.</u> <u>Customer Obligations</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1. General**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.1. Customer shall be responsible for providing Offering terms to its subscribers. Such disclosure shall include, but is not limited to the following material information: a method of Customer valuation, a description of the security available in the Offering, the risks related to the investment, whether there are existing investors and any additional capital expectations.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.2. Customer is solely responsible for ensuring that the funds raised in the Offering are used, allocated or invested in accordance with the use of funds described in the Offering disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.3. Customer acknowledges that following the final closing for the Offering, Customer will have sufficient liquidity (from the proceeds raised in the Offering or alternate Customer funds) to sustain Customer operations for that period of time which is clearly identified in the Offering disclosure or alternatively, until the next Customer funding round.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.4. Nothing in this Agreement shall be construed to relieve the managers or officers of Customer from the performance of their respective duties or limit the exercise of their powers in accordance with the Customer's bylaws, operating and constituent documents, written supervisory procedures, applicable law or otherwise. The Customer bears ultimately responsibility for all decisions with regard to any matter upon which Company has rendered its services. The Company shall not and shall have no authority to control Customer or Customer's day-to-day operations, whether through the performance of the Company's duties hereunder or otherwise. The Customer's directors, managers, officers and employees shall retain all responsibility for Customer, and its operations as and to the extent required by Customer's bylaws, operating and constituent documents, and applicable law. In furtherance and not in limitation of the above, and notwithstanding any other provision of this Agreement or of any other agreement, understanding or document that purports to have any contrary effect or meaning, the DealMaker shall not control, or have the right to control, directly or indirectly, the wages, hours, or terms and conditions of employment of the Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.5. Customer represents and warrants that it has all necessary rights, consents and authorizations to provide data to DealMaker in connection with the Offering and that such Customer Data sharing complies with all applicable laws, including but not limited to applicable privacy and data protection laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2. Privacy.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.1. Notwithstanding any other provision of this Agreement, Customer shall not take or direct any action that would contravene, or cause the other party to contravene, applicable legislation that addresses the protection of individuals' personal information (collectively, **"Privacy Laws"**). Customer shall, prior to transferring or causing to be transferred personal information to Company, obtain and retain required consents of the relevant individuals to the collection, use and disclosure of their personal information, or shall have determined that such consents either have previously been given upon which the parties can rely or are not required under the Privacy Laws, including any consents required from third parties pursuant to applicable Privacy Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.2. Customer acknowledges that, when used for an Offering, the Customer's personalized Software dashboard (**"Software Dashboard"**) will contain personal identifying information (**"PII"**) of Customer's investors. Customer is solely responsible for ensuring compliance with all applicable Privacy Laws when Customer (a) downloads and stores any PII obtained from the Software Dashboard and (b) provides Customer's representatives with access to the Software Dashboard.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.3. Customer is solely responsible for notifying Company when any Customer representative is no longer working for the Customer and/or authorized to access the Software Dashboard for the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.4 Customer shall cause all third parties with access to PII obtained from the Software Dashboard to execute agreements acknowledging the third parties' obligation to comply with applicable Privacy Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2.5. Customer has implemented and continually monitors and enforces an agreement or policy with its Customer representatives, employees and agents that addresses (i) confidentiality and security provisions for all data, including data obtained through the Software Dashboard and (ii) permitted and impermissible use of this data.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3. Bad Actor Checks**

Customer agrees to provide DealMaker Entity with documentation verifying completion of bad actor checks in compliance with all applicable regulations (**"Bad Actor Checks"**). Customer shall provide DealMaker Entity with a copy of Customer's Bad Actor Checks within thirty (30) days of the Effective Date of this Agreement, failing which, DealMaker Entity shall notify Customer in writing that it shall take steps to complete Customer's Bad Actor Checks at Customer's sole expense.

**<u>11.</u> <u>General Terms</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1. <u>Publications.</u> Each party acknowledges that its name, logo(s) and a description of the general nature of this Agreement may be used in any press release, public announcement or public communication during and following the Term. Without limiting the generality of the foregoing, Company may publish such information on its websites and in its promotional materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2. Expenses. Customer shall reimburse DealMaker for all reasonable and documented out-of-pocket expenses incurred in connection with the Agreement, subject to the Customer's prior written approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3. <u>General Cooperation</u>. The parties shall with reasonable diligence do all such things and provide all such reasonable assurances and execute all such documents, agreements and other instruments as may reasonably be necessary for the purpose of carrying out the provisions and intent of any Agreement. The parties further acknowledge that the implementation of each Agreement will require the co-operation and assistance of each of them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4. <u>No Books And Records Obligations</u>. Any and all obligations of Customer related to the storage of books and records remains the sole obligation of Customer. Company expressly disclaims any and all responsibility with respect to any regulatory or industry requirements with respect to the Customer's obligations related to record keeping and maintenance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5. <u>Survival.</u> These terms shall continue in effect until the expiration or termination of the Agreement, whichever is earlier. The provisions of these Terms of Service which should by their nature survive expiration or termination of this Agreement shall so survive.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6. <u>Currency.</u> All currencies referred to herein are in US dollars.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7. <u>Amendment and Waiver</u>. Amendments to any Agreement, including any schedule or attachment hereto, shall be enforceable only if in writing and signed by authorized representatives of each of the applicable parties. A party does not waive any right under this Agreement by failing to insist on compliance with any of the terms of this Agreement or by failing to exercise any right hereunder. No waiver of any breach of any terms or provisions of this Agreement is effective or binding unless made in writing and signed by the authorized representative of each of the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8. <u>Assignment</u>: No party may assign an Agreement or any of its rights or obligations hereunder without the prior written consent of the other party, such consent not to be unreasonably withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9. <u>Inurement</u>. Each Agreement inures to the benefit of and is binding on each of the parties and their respective successors and permitted assignees, heirs and legal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10. <u>Force Majeure</u>. Excluding any obligations of a party to pay monies due hereunder, neither party will be responsible for any delay or failure in its performance or obligations under this Agreement due to causes beyond its reasonable control, including, without limitation, labor disputes, strikes, civil disturbances, government actions, fire, floods, acts of God, war, terrorism, or other similar occurrences (each, a **"Force Majeure Event"**); provided that the party affected by such Force Majeure Event (a) is without fault in causing such delay or failure, (b) notifies the other party of the circumstances causing the Force Majeure Event, and (c) takes commercially reasonable steps to eliminate the delay or failure and resume performance as soon as practicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.11. <u>Governing Law.</u> Each Agreement is made in New York governed by and construed in accordance with the laws of the state of New York and the federal laws applicable therein. In connection with each Agreement, the Parties attorn to the jurisdiction of the courts of the State of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12. <u>Arbitration</u>. Any and all controversies, claims, or disputes arising out of or relating to each Agreement, or the interpretation, performance, or breach thereof, including the scope or applicability of this provision to arbitrate (**"Dispute"**) shall be referred to senior management of the parties for good faith discussion and resolution. In the event the parties cannot resolve any Dispute informally, then such Dispute shall be submitted to confidential, final, and binding arbitration with venue in New York, NY, pursuant to the rules of the American Arbitration Association.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12.1. <u>Arbitration Procedure</u>. The arbitration shall take place in New York. The arbitration shall be before a single, neutral arbitrator who is a former or retired New York state or federal court judge. The arbitration may be initiated by any party by giving to the other party written notice requesting arbitration, which notice shall also include a statement of the claims asserted and the facts upon which the claims are based. Customer and Company each consent to this method of dispute resolution, as well as jurisdiction, and consent to this being a convenient forum for any such claim or dispute and waive any right it may have to object to either the method or jurisdiction for such claim or dispute. In the event of any dispute among the parties, the prevailing party shall be entitled to recover damages plus reasonable costs and attorney's fees, and the decision of the arbitrator shall be final, binding and enforceable in any court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12.2. <u>Compelling Arbitration</u>. Any party may bring an action in any court of competent jurisdiction to compel arbitration under this Agreement and to enforce an arbitration award.

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Notwithstanding this arbitration provision, either party shall be entitled to seek injunctive relief (unless otherwise precluded by any other provision of this Agreement) from any court of competent jurisdiction. If for any reason an action proceeds in court rather than in arbitration, it shall be brought exclusively in a state or federal court of competent jurisdiction located in New York and the parties expressly consent to personal jurisdiction and venue therein and expressly waive any right to trial by jury.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12.3. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LITIGATION, ACTION, PROCEEDING, CROSS-CLAIM, OR COUNTERCLAIM IN ANY COURT (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF, RELATING TO OR IN CONNECTION WITH (I) THIS AGREEMENT OR THE VALIDITY, PERFORMANCE, INTERPRETATION, COLLECTION OR ENFORCEMENT HEREOF OR (II) THE ACTIONS OF THE PARTIES IN THE NEGOTIATION, AUTHORIZATION, EXECUTION, DELIVERY, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13. <u>Entire Agreement</u>: Each Agreement including all schedules thereto, constitutes the entire agreement between the parties concerning the applicable subject matter and supersedes all prior or collateral agreements, communications, presentations, representations, understandings, negotiations and discussions, oral or written.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.14. <u>Headings</u>**:** Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.15. <u>Number and Gender.</u> Words importing the singular mean the plural and vice versa. Words in the masculine gender include the feminine gender and vice versa.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.16. <u>Severability.</u> If any term, covenant, condition or provision of an Agreement is held by a court or arbitrator(s) of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court or arbitrator(s) only to the extent deemed necessary by that court or arbitrator(s) to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.17. <u>Notices.</u> Any notice required to be given pursuant to an Agreement shall be in writing and delivered by electronic mail, addressed to the appropriate party. Any notice given is deemed to have been received on the date on which it was delivered if a business day, or, failing that, on the next business day. To the fullest extent permitted by applicable law, all amendments to the Agreement and all notices, requests, waivers or other communications regarding Customer's account and/or Customer's use of the Service (**"Communications"**) may be provided to Customer electronically and Customer hereby agrees to receive all Communications from Provider in electronic form. Communications may, at DealMaker's election, be (a) delivered to Customer's e-mail address, (b) displayed on a screen notice visible at login, or (c) posted on the pages within the DealMaker product. In addition to the forgoing, Communications may also be sent by either party in writing via express courier to the address set forth on the Order Form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.18. **<u>Testimonials.</u>** Customer acknowledges that DealMaker's materials may from time to time include testimonials, real world experiences and insights or opinions about other people's experiences with DealMaker (***"Examples"***) and that this information is for illustration purposes only. Customer further acknowledges that campaigns are affected by a variety of factors including but not limited to time, external global events, varying business plans, different industries, and that these Examples are in no way a representation or guarantee that current or future customers will achieve the same or similar results.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.19. DealMaker reserves the right to update or modify these terms and conditions at any time. Changes will be effective when posted on our website. You are responsible for reviewing the Terms & Conditions. Continued use of our services after changes take effect constitutes acceptance of the revised Terms & Conditions.

**DealMaker Additional Terms Applicable to Certain DealMaker.tech Services: Third Party Payment Processing, AML/KYC Background Checks, Accreditation Verification and Analytics, Marketing Review Tool.**

**The following sections of the Terms only apply to those DealMaker.tech Customers who purchase the specific services noted.**

**<u>12. Background Checks: AML compliance and "clearing"</u>**

DealMaker's integrated AML searches are tools provided to Customer to assist Customer (or its agents) in complying with applicable obligations related to KYC/AML regulations. Company is not engaged to perform and will not perform, and shall not be deemed responsible for performing, any services related to reviewing or analyzing search results, sources of funds or wealth, or making any determination as to whether Customer has complied with its obligations under applicable anti-money laundering legislation and regulations or as to whether any prospective investor poses any risk of money laundering, terrorist financing, or other criminal or suspicious activity. Customer and/or its agents (including counsel or broker dealer as applicable) shall bear primary responsibility to determine compliance with applicable AML legislation and regulation and shall assist in the clearing of any AML exceptions. Customer's KYC/AML clearing obligations may require Customer to undertake efforts to ensure that individual and corporate investors provide applicable identity verification, explanations of adverse regulatory/disciplinary/bankruptcy history or media reports, confirmation of false positive results, or other documents or information required for AML purposes. DealMaker.tech's AML searches are limited by capabilities and design of products and services of the third parties DealMaker.tech engages to perform such searches, including limitations on the search methodology, matching logic, data sources, and information accuracy.

**<u>13.</u> <u>Regulation D, 506(c) Accredited Investor Verification</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1. Customer may engage either Company or a third party (each a **"Reviewer"**) to assist Customer in complying with applicable obligations related to accredited investor verification pursuant to Rule 506(c) of Regulation D promulgated under the Securities Act (**"Regulation D"**). If Reviewer is Company, Company shall review investor submissions and uploaded documentation on the DealMaker portal and make a determination as to whether Customer has complied with its obligations to verify accredited investors (as defined by Rule 501 of Regulation D promulgated under the Securities Act) (**"DM Verification"**). Customer acknowledges that Company may contact investor for the purpose of accredited investor verification and that Customer has obtained investor's consent to receive communications from Company and/or DealMaker regarding investor's accreditation verification. If Reviewer is a third party, Company will not perform, and shall not be deemed responsible for performing, any services related to reviewing or analyzing search results, sources of funds or wealth, or making any determination as to whether Customer has complied with its obligations to verify accredited investors (as defined by Rule 501 of Regulation D promulgated under the Securities Act).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2. Company does not make and hereby disclaims any warranty, expressed or implied with respect to the information provided through DM Verification. Company does not guarantee or warrant the correctness, merchantability, or fitness for a particular purpose of the information provided through DM Verification. Customer acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.1. DM Verification shall not include accreditation verification of non-U.S. investors (**"foreign accredited investors"**) who may be subject to foreign accreditation verification requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.2. DM Verification is conducted using a variety of third party database searches, public record services and user submissions. Company cannot represent or warrant that the data provided will be 100% accurate, complete or up to date. The data is time sensitive, and Company provides the information as is. Public records may be incomplete, out of date or have errors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.3. The results of a DM Verification search for any type of personal verification should be interpreted cautiously. Criminal and civil record search results may not provide a complete or accurate representation of a person's criminal background or civil judgment history. Records are available for the majority, but not all, of states and counties. Records can be incomplete, contain inaccuracies or false matches.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.4. Company is not a consumer reporting agency as defined in the Fair Credit Reporting Act

(**"FCRA"**), and the information in DealMaker.tech's databases has not been collected in whole or in part for the purpose of furnishing consumer reports, as defined in the FCRA. CUSTOMER SHALL NOT USE DM VERIFICATION SERVICES AS A FACTOR IN (1) ESTABLISHING AN INDIVIDUAL'S ELIGIBILITY FOR PERSONAL CREDIT OR INSURANCE OR ASSESSING RISKS ASSOCIATED WITH EXISTING CONSUMER CREDIT OBLIGATIONS, (2) EVALUATING AN INDIVIDUAL FOR EMPLOYMENT, PROMOTION, REASSIGNMENT OR RETENTION, OR (3) ANY OTHER PERSONAL BUSINESS TRANSACTION WITH ANOTHER INDIVIDUAL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.5. Customer assumes all risks arising from its use or disclosure of DM Verification information Company provides to Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.6. DM Verification Services are provided in English only. Customer acknowledges that data provided in any other language will require a certified translation which Customer shall pay for, or alternatively, reject the investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.7. Notwithstanding anything in the DealMaker Terms of Service, Customer agrees that it shall indemnify, defend and hold harmless Company, its officers, directors, employees and agents, and the entities that have contributed information to or provided services for DM Verification against any and all direct or indirect losses, claims, demands, expenses (including attorneys' fees and cost) or liabilities of whatever nature or kind arising out of Customer's use of the information provided by DM Verification and Customer's use or distribution of any information obtained therefrom, except for losses caused exclusively and directly by Company's gross negligence, fraud, bad faith or wilful misconduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2.8. THE DM VERIFICATION SERVICES AND INFORMATION ARE PROVIDED "AS-IS" AND "AS AVAILABLE" AND NEITHER COMPANY NOR ANY OF ITS DATA SUPPLIERS REPRESENTS OR WARRANTS THAT THE INFORMATION IS CURRENT, COMPLETE OR ACCURATE. COMPANY HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE PERFORMANCE OF THE WEBSITE OR OUR SERVICES, AND THE ACCURACY, CURRENCY, OR COMPLETENESS OF THE INFORMATION, INCLUDING (WITHOUT LIMITATION) ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Customer acknowledges that these disclaimers are an integral part of this Agreement, and that Company would not provide DM Verification services if Customer did not agree to these disclaimers.

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**<u>14.</u> <u>Third-Party Payment Processing</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.1. For the processing of electronic payments (including bank-to-bank payments, credit card, etc.), the Company may submit material(s) and or application(s) to partner third-party payment processors on behalf of the Customer. Upon approval, the Company will enable the partner processors' intake form/system within the Customer's online DealMaker.tech portal.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2. Customer acknowledges that Company makes no guarantee that Customer will be approved by any third party, and approval is subject to each third party's sole discretion, including, to the extent applicable, its due diligence and compliance policies and procedures. Use of payment processing service(s) is further contingent on the mutual acceptance by Company and Customer of each third party's respective terms, service agreements, and fees (including fees for merchant processing account and ongoing maintenance, which may be applied on a per-issuer basis) to be included as an addendum to this Agreement and/or presented to Customer for acceptance at the time Customer engages third party, and as updated from time to time. Note holdback periods may apply for electronic payment transfer methods, as enforced by processors. Company shall not be deemed responsible for delivery or any interruption or cessation of any services provided by any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3. All transactions must clear prior to being made available to Customer. US Federal regulations provide investors with 60 days to recall funds. Customer remains liable to immediately and without protestation or delay return any funds recalled by investors for whatever reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4. Customer agrees that funds deposited into Customer's Account shall remain in Customer's Account and shall not be withdrawn by Customer or a person authorized by Customer, from the Customer's Account prior to Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.5. Company reserves the right to deny, suspend or terminate participation of any investor in the offering to the extent Company, in its sole discretion, deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with laws, rules, regulations, best practices, or the protection of its reputation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.6. **Holdbacks.** The Customer hereby acknowledges that certain terms apply in respect of electronic or credit card payment to cover against chargebacks and/or rescission (**"Chargeback"**). Chargeback windows can vary in duration and amount. For this reason, a holdback is applied to all funds processed online and deposited in Customer Payment Processing Account. Company shall have the right, in its sole discretion, to revise the amount and duration of any holdback. Unless otherwise advised in writing prior to the Effective Date, the holdback is 5.00% of payments processed, for a ninety (90) day period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7. In the event that a Customer's investor disputes, through their financial institution, a subscription payment made using electronic or credit card payments **("Chargeback Dispute")**, Customer acknowledges that:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.1. If the Chargeback Dispute is initiated by a subscriber before the Customer has accepted the subscriber's investment, the Company shall refund the subscriber, and no further action will be taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.2. If the Chargeback Dispute is initiated by a subscriber after the Customer has accepted the subscriber's investment, the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.2.1. notify the Customer within twenty-four (24) hours of the Chargeback Dispute; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.2.2. Provide Customer with five (5) business days to resolve the Chargeback Dispute directly with the subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.3. If, after (5) business days, the subscriber and Customer fail to resolve the Chargeback Dispute, Company will submit evidence contesting the Chargeback Dispute, on behalf of the Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.4. Customer agrees to promptly notify Company upon receipt of any Chargeback Dispute notifications, provide all necessary information and documentation requested by the Company to support the Chargeback Dispute and refrain from directly engaging with the payment processor or any other third party regarding the Chargeback Dispute.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.5. Customer acknowledges that contesting a Chargeback Dispute may require the Company to share certain transaction details with third party payment processors. The Customer agrees to

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) only share information necessary to contest the Chargeback Dispute and (b) comply with all applicable data protection and privacy laws when handling Customer data and providing Customer data to Company related to the Chargeback Dispute.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.6. For the avoidance of doubt, although the Company will make best efforts to represent the Customer in contesting a Chargeback Dispute, Company shall not be liable for and bares no responsibility whatsoever for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.6.1. The outcome of the Chargeback Dispute;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.6.2. Any fees or penalties imposed by payment processors or financial institutions as a result of the Chargeback or Chargeback Dispute; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.7.6.3. Any loss of revenue or business opportunity resulting from the Chargeback or Chargeback Dispute.

**<u>15.</u> <u>Analytics</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1. <u>Data and Analytics</u>. Company reserves the right to collect data relating to Customer's usage of the Software during the Term. Without limiting the generality of the foregoing, Company may collect information relating to: (i) Software use (including the number of users, duration of usage sessions, and number of transactions initiated or completed using the Software); (ii) error information (including error messages and any feedback text submitted via any in-application feedback form); (iii) performance data (including software run time); (iv) user experience information (including time spent on each page of the user interface); and (v) license status information (including confirmation of license activation status).

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Customer shall have the right to access and use data relating to its usage of the Software for its own purposes, as available through the online dashboard or other reports provided by Company. Customer retains all right, title and interest in AI outputs generated from Customer usage of the Software. Company grants Customer a worldwide, perpetual license to use such AI outputs for Customer's business, subject to third party rights and applicable laws and regulations.

**<u>16.</u> <u>Marketing Review Tool</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1. DealMaker's integrated third party marketing review tool is made available to Customer (or its agents) to review Customer's marketing materials and assist Customer in complying with applicable marketing regulations (**"Marketing Review Tool"**). If reviewer is Company, Customer may request that a DealMaker Entity assistant Customer with uploading documentation into the Marketing Review Tool but Company will not perform, and shall not be deemed responsible for performing, any services related to reviewing or analyzing search results. Company is not engaged to perform and will not perform and shall not be deemed responsible for making any determination as to whether Customer has complied with its obligations under applicable marketing regulations based on information provided by the Marketing Review Tool. Customer and/or its agents (if so designated) shall be responsible for reviewing the results and determining compliance with applicable marketing legislation and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2. Use of the Marketing Review Tool is contingent upon Customer's acceptance of third party provider's terms and fees (if applicable) to be presented to the Customer at the time Customer initiates engagement with the Marketing Review Tool.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3. Company does not make and hereby disclaims any warranty, express or implied with respect to the information provided through the Marketing Review Tool. Customer acknowledges that (i) Company does not guarantee or warrant the correctness, merchantability or fitness for a particular purpose of the information provided through Marketing Review Tool; (ii) Marketing Review Tool is PROVIDED "AS-IS"

AND "AS AVAILABLE" AND NEITHER COMPANY NOR ANY OF ITS THIRD PARTY SUPPLIER REPRESENTS OR WARRANTS THAT THE INFORMATION IS CURRENT, COMPLETE OR ACCURATE; and (iii) Customer assumes all risks arising from Company or its agents' use of the Marketing Review Tool.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4. Notwithstanding anything in the DealMaker Terms of Service, Customer agrees that it shall indemnify, defend and hold harmless Company, its officers, directors, employees and agents, and affiliates that have contributed information to or provided services related to the Marketing Review Tool against any and all direct or indirect losses, claims, demands, expenses (including attorneys' fees and cost) or liabilities of whatever nature or kind arising out of Customer's or its agent's use of the Marketing Review Tool and Customer's use or distribution of any information obtained therefrom.

**<u>Enterprise Customer Terms</u>**

**For DealMaker Customers who have signed an Enterprise Order Form, the Terms apply, as well as the following additional terms. If you are not an Enterprise Customer, these additional terms do not apply to you:**

**<u>17. Definitions</u>**

**"Enterprise Customer"** means a Customer that has entered into an Enterprise Order Form.

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**"License"** means the Company's grant to Enterprise Customer of a non-exclusive, non-transferable license for use of the Software by an unlimited number of individual users. Company will designate a DealMaker Enterprise Account to Enterprise Customers with a License.

**"Intended Purpose"** For the purposes of this section, Intended Purpose also includes usage by issuers invited by Enterprise Customer to use Enterprise Customer's Enterprise Account for the above-described purpose.

**"Software"** as it pertains to this section, shall also include any related printed, electronic and online documentation, manuals, training aids, user guides, system administration documentation and any other files that may accompany the Software licensed by Enterprise Customer.

**<u>18.</u> <u>SLA</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.1. It is expressly understood and agreed that the Company shall determine its capacity to offer consulting services, only to such extent and at such times and places as may be mutually convenient to the parties. Company shall be free to provide similar services to such other business enterprises or activities as the Company may deem fit without any limitation or restriction whatsoever.

**<u>19.</u> <u>Licensed Intermediary Terms.</u>**

**If Enterprise Customer is a licensed Intermediary (as defined below), the following additional terms apply:**

A. Books and Records

<u>Books and Records.</u> Any and all obligations of Customer related to the storage of books and records including but not limited to, obligations in accordance with Sections 17(a)(1), 17(a)(3) and 17(a)(4) of the Securities Exchange Act of 1934 (**"Exchange Act"** or "SEA") remain the sole obligation of Customer and its clients. Company expressly disclaims any and all responsibility with respect to any regulatory or industry requirements with respect to the Customer and its clients' obligations related to record keeping and maintenance.

B. Regulation CF Offerings

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Obligations of the Customer (acting as a Licensed Intermediary):

Where Customer using the Software has been engaged by its client to (i) act as a Broker-Dealer and a licensed Intermediary pursuant to Regulation CF, 17 C.F.R. Part 227 (the **"Regulation CF"**), or (ii) act as a registered Funding Portal and licensed Intermediary pursuant to Regulation CF, in a transaction involving the offer or sale of securities in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)), Customer shall comply with the requirements of Regulation CF (**"Licensed Intermediary"**). For greater certainty, this includes the requirements that Customer shall:

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&nbsp;&nbsp;&nbsp;&nbsp;1. Register with the Securities and Exchange Commission (**"Commission"**) as either (i) a broker or (ii) a Funding Portal under section 15(b) of the Exchange Act (15 U.S.C. 78o(b)), pursuant to Regulation CF, §227.400;

&nbsp;&nbsp;&nbsp;&nbsp;2. If registering with the Commission as a Funding Portal, refrain from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Offering investment advice or recommendations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Soliciting purchases, sales or offers to buy the securities displayed on its platform;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Compensate employees, agents, or other persons for such solicitation or based on the sale of securities displayed or referenced on the DealMaker Software used by the Intermediary; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Hold, manage, possess, or otherwise handle investor funds or securities.

(Regulation CF, §227.300(2)(c))

&nbsp;&nbsp;&nbsp;&nbsp;3. Verify that no director, officer or partner of Customer, or any person occupying a similar status or performing a similar function has a prohibited "financial interest in an issuer" as the term is defined in Regulation CF, §227.300(b);

&nbsp;&nbsp;&nbsp;&nbsp;4. Have a reasonable basis for believing that Customer's client seeking to initiate an offering of securities under the Regulation has a reasonable basis for keeping accurate records of security holders and is not disqualified to offer securities pursuant to Regulation CF, §227.301(c);

&nbsp;&nbsp;&nbsp;&nbsp;5. Make available to SEC and to the public, the disclosure required by Regulation CF, §227.201 and §227.303;

&nbsp;&nbsp;&nbsp;&nbsp;6. Provide educational materials to all investors, pursuant to Regulation CF, §227.302(b);

&nbsp;&nbsp;&nbsp;&nbsp;7. Verify that Customer's clients are not disqualified from offering securities pursuant to Regulation CF, §227.100(b);

&nbsp;&nbsp;&nbsp;&nbsp;8. Only accept an Investor into an offering after (1) the Investor opens an account with Customer, (2) the Investor consents to electronic delivery and the review of the educational materials regarding the offering and (3) Customer has a reasonable basis to believe that the Investor meets the investment limitations in Regulation CF pursuant to Regulation CF, §227.302 and §227.303.;

&nbsp;&nbsp;&nbsp;&nbsp;9. Provide communication channels by which Investors who have opened accounts can communicate with one another and with representatives of the Customer about offerings made available through the Customer or its clients, pursuant to Regulation CF, §227.303(c); and

&nbsp;&nbsp;&nbsp;&nbsp;10. Provide Investors the opportunity to reconsider their investment decision and to cancel their investment commitment until 48 hours prior to the new offering deadline, pursuant to Regulation CF §227.304

&nbsp;&nbsp;&nbsp;&nbsp;11. Provide Investors with notice of material changes as described in Regulation CF, §227.304 (**"Notice"**), including but not limited to notice that the investor's investment commitment will be canceled unless the investor reconfirms his or her investment commitment within five business days of receipt of the Notice.

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&nbsp;&nbsp;&nbsp;&nbsp;12. If registering with the Commission as a Funding Portal, comply with the Conditional Safe Harbor provisions in Regulation CF, §227.402; and

&nbsp;&nbsp;&nbsp;&nbsp;13. If registering with the Commission as a Funding Portal, implement written policies and procedures reasonably designed to achieve compliance with federal securities laws and the rules and regulations thereunder, relating to its business as a Funding Portal, as required by Regulation CF, §227.402(a).

&nbsp;&nbsp;&nbsp;&nbsp;14. If registering with the Commission as a Funding Portal, manage any reconciliation or reporting questions with the Issuer directly.

**("Regulation CF Requirements")**

For greater certainty, the parties acknowledge that Company shall bear no responsibility for or liability whatsoever in connection with the Regulation CF Requirements and Customer shall be solely responsible for ensuring that Customer and its clients comply with Regulation CF.

Further Assurances. When Customer or its clients use the Software for an offering in reliance on Regulation CF, Customer shall verify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. The issuer has filed a Form C Offering Statement with the SEC, as described in Regulation CF, §227.203(a), prior to making an offering to the public pursuant to Regulation CF;

&nbsp;&nbsp;&nbsp;&nbsp;2. Issuer complies with marketing and advertising requirements of Regulation CF, §227.204;

&nbsp;&nbsp;&nbsp;&nbsp;3. Provider is notified of any investor who, having received Customer's Notice pursuant to Regulation CF §227.304, opts-out of their investment and whose investment must therefore be refunded;

&nbsp;&nbsp;&nbsp;&nbsp;4. Signed and funded subscription agreements, executed by investors who have cleared AML/KYC, are reviewed by the Customer prior to countersignature;

&nbsp;&nbsp;&nbsp;&nbsp;5. The aggregate amount of all securities sold to all Investors by the Issuer in a single offering during a

12-month period shall not exceed $5,000,000; and

&nbsp;&nbsp;&nbsp;&nbsp;6. Non-accredited Investors (as defined by Rule 501, CFR §230.301) investing in the offering pursuant to Regulation CF do not exceed the maximum investment permitted in a 12-month period per Regulation CF, §227.100.

<u>Payments To Escrow.</u> Customer acknowledges that it shall direct all payments from Investors in respect of a Regulation CF offering to Issuer's Escrow Account. Customer is responsible for (1) applying for escrow account with a DealMaker-selected Escrow Provider; (2) configuring instructions in the DealMaker Software to ensure that all payments are directed to the appropriate Escrow Account; (3) using the DealMaker.tech application to manage closings pursuant to the DealMaker user guide and (4) coordinating with the escrow company managing the Escrow Account to disburse funds upon request from the issuer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Regulation A/A+ Offerings

Obligations of the Customer. Where Customer has been engaged by its client as a broker-dealer in connection with an offering pursuant to Regulation A, 17 C.F.R. Parts 230.251-230.263 (**"Regulation A"**), the Customer shall verify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. Customer shall complete a reasonable due diligence ensuring no anti-fraud or civil liabilities provisions of federal securities laws have been violated. As such, Customer shall maintain a Due Diligence file including the Issuer Agreement (or Selling Agreement); organizational, constating, financial, and administrative support to accept such Issuer engagement; and Issuer's Offering Memoranda, Subscription Document. Further, the Due Diligence folder shall evidence the collection of such documents in a form as described in Customer's Written Supervisory Procedures ("WSPs"). Customer shall create and maintain customer files, including new account, accredited investor, or qualified purchaser questionnaires, including Investor attestations.

&nbsp;&nbsp;&nbsp;&nbsp;2. Issuer has filed a Form 1-A Offering Statement with the SEC, as described in Regulation A, §230.252 and §239.90, prior to making an offering to the public pursuant to Regulation A;

&nbsp;&nbsp;&nbsp;&nbsp;3. Issuer complies with marketing and advertising requirements of 17 C.F.R. Part II, Securities and Exchange Commission and the SRO, FINRA, including but not limited to, setting up the issuer landing page for the Offering website.

&nbsp;&nbsp;&nbsp;&nbsp;4. Signed and funded subscription agreements, executed by investors who have cleared AML/KYC, are reviewed by the Customer and a recommendation is made by Customer to Issuer regarding countersignature.

&nbsp;&nbsp;&nbsp;&nbsp;5. Prior to enabling countersignature:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Issuer has provided written confirmation to Customer that it has BlueSky notice filed in each state, as applicable depending on the states in which the securities are offered and whether the offering is conducted pursuant to Tier 1 or Tier 2 of Regulation A §230.252; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. For the first 25 days of an offering, Customer will monitor investors until the issuer has provided written confirmation that all state BlueSky requirements have been met for the 53 US jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;6. Issuer and Issuer counsel have taken the steps required to review non-US investors, as required by the applicable international regulations.

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![](exhibit1-1x003.jpg)

**DEALMAKER SECURITIES LLC ("DMS") CUSTOMER TERMS**

**For any DealMaker Securities Customer, the following additional terms also apply:**

**Broker-Dealer Agreement.** These terms and conditions for DealMaker Securities LLC (**"DMS Terms"**), along with the Order Form and schedules attached to the Order Form create a binding agreement by and between the Customer who has signed the Order Form (**"DMS Customer"**), and DealMaker Securities LLC, a FINRA-registered Broker-Dealer (**"DMS"**)(the **"DMS Agreement"**), as of the Effective Date. DMS Customer may also be considered a Customer of the other DealMaker Entities, depending on the services the Customer purchases.

DMS is a registered broker-dealer providing services in the equity and debt securities market, including offerings conducted via SEC approved exemptions such as Rules 506(b) and 506(c) of Regulation D under the Securities Act of 1933 (the **"Securities Act"**); Regulation A under the Securities Act (**"Regulation A"**); Regulation CF under the Securities Act (**"Regulation CF"**) and others. DMS Customer is offering securities directly to the public in an offering exempt from registration under either Regulation A or Regulation CF (the **"Offering"**). DMS Customer recognizes the benefit of having DMS provide advisory and other services as described herein, on the terms hereof.

Capitalized terms used but not defined in these DMS Terms have the meanings set forth in the Order Form or the Terms. In the event of a conflict between the Terms and the DMS Terms, the DMS Terms shall control.

**<u>1. Appointment & Termination</u>**

DMS Customer hereby engages and retains DMS to provide operations and compliance services at Customer's discretion/ subject to DMS's approval as a FINRA-registered broker-dealer. DMS Customer acknowledges that DMS obligations hereunder are subject to (a) DMS's acceptance of DMS Customer as a customer following DMS's due diligence review and (b) if applicable, issuance by the Financial Industry Regulatory Authority ("FINRA") Department of Corporate Finance of a no objection letter for the Offering.

In addition to the Termination Reasons, DMS may terminate this DMS Agreement if, at any time after the commencement of DMS's due diligence of the potential DMS Customer, DMS reasonably believes that is not advisable to proceed with the contemplated Offering.

**<u>2. Services</u>**

DMS will perform the services listed on the Order Form in connection with the Offering (the **"Services"**).

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**<u>3. Fees</u>**

As payment for the Services, DMS Customer shall pay to DMS such fees as described in the Order Form. Commissions are earned once the DMS Customer's investors are reviewed by DMS. DMS Customer's acceptance of an investor completes DMS's service obligation at which time fees are due and payable to DMS. DMS Customer authorizes DMS to deduct any fees owing directly from the DMS Customer's bank account or third-party escrow account (if Customer has engaged an escrow provider). In the event this DMS Agreement is terminated in accordance with paragraph 1 of the DMS Terms, any advance against accountable expenses anticipated to be incurred, shall be refunded to the extent said expenses are not actually incurred as of the termination date.

**<u>4.</u> <u>Regulatory Compliance</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. DMS Customer and all its third-party providers shall at all times (i) comply with direct reasonable requests of DMS: (ii) maintain all required registrations and licenses, including foreign qualification, if necessary; and (iii) pay all related fees and expenses (including the FINRA corporate filing fee) in each case that are necessary or appropriate to perform their respective obligations under this Agreement. Customer shall comply with and adhere to all DMS policies and procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. DMS Customer shall at all times disclose all compensation received by any third party promoters (including but not limited to social media influencers) in connection with the Offering, in accordance with applicable rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. DMS Customer and DMS will have shared responsibility for the review of all documentation related to the Offering but the ultimate discretion about accepting an Investor will be the sole decision of the DMS Customer. Each Investor will be considered to be that of the DMS Customer and NOT that of DMS.

DMS Customer shall advise DMS of each Investor who shall not be accepted into the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. DMS Customer and DMS shall each supervise and train their respective employees, agents, representatives and independent contractors in the performance of functions allocated to them pursuant to the terms of this DMS Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. DMS Customer may request DMS assistance with preparation of the Form C for the Offering and guidance on filing the Form C for the Offering in the SEC-Edgar system, but DMS Customer is ultimately responsible for the review and filing the Form C related to the Offering. In the event that DMS Customer files a Form C-W or Form 1-A-W withdrawing its filing in relation to its Offering, DMS Customer agrees to the prompt return to investors of all funds received from investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. DMS Customer agrees to

∙ Provide accurate, complete, and timely information through the online form provided. The filing creation timeline will commence only upon receipt of all required information

∙ Review all filings with their securities counsel to ensure accuracy before each EDGAR filing. DealMaker Securities, LLC is not liable for errors, omissions, or inaccuracies in filings due to incomplete or inaccurate information provided by the Customer.

∙ Submit requested revisions within the specified review windows, as additional rounds or delays may incur further fees and impact timelines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. If either DMS Customer or DMS receives material communications (orally or in writing) from any Governmental Authority or Self-Regulatory Organization with respect to this Agreement or the performance of either party's obligations thereunder, the receiving party shall promptly provide said communications to the other party, unless such notification is expressly prohibited by the applicable Governmental Authority.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. DMS Customer is responsible for the preparation of financial statements using the going concern basis of accounting and required disclosures alerting investors about any underlying financial conditions and management's plans to address them. DMS Customer will provide evidence of sufficient financial wherewithal as part of the diligence process, and in some cases on-going, as requested by DMS in its due diligence process and enhanced due diligence processes. The amount of sufficient financial wherewithal is subject to the DMS Customer's specific facts and circumstances and will be evaluated during the due diligence process. DMS Customer acknowledges that it must maintain at least six months of operating capital and update investor disclosures to reflect any change in operating capital below this threshold. DMS Customer acknowledges that these updates to investors disclosures will be made in accordance with the advice of the DMS Customer's professional advisors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. DMS Customer is solely responsible for confirming that DMS Customer is authorized to use or wholly owns all DMS Customer intellectual property used in connection with the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. DMS Customer maintains responsibility for acting as the securities registrar or engaging a separate registrar for its corporate securities issuance and ownership records, if not using DMTA.

**<u>5. Role of DMS</u>**

DMS Customer acknowledges and agrees that it relies on its own judgment in engaging DMS Services. DMS Customer understands and agrees that (i) DMS is not assuming any responsibility for the DMS Customer's underlying business decision to pursue any business strategy or effect any Offering; (ii) DMS makes no representations with respect to the quality of any investment opportunity in connection with the Offering (iii) DMS does not guarantee the performance to or of any Investor in the Offering, (iv) DMS does not guarantee the performance of any third party which provides services to DMS or DMS Customer with respect to the Offering), (v) DMS will make commercially reasonable efforts to perform the Services pursuant to this DMS Agreement, (vi) DMS is not an investment adviser, does not provide investment advice and does not recommend securities transactions and any display of data or other information about the Offering, does not constitute a recommendation as to the appropriateness, suitability, legality, validity, or profitability of any Offering, (vii) DMS Services in connection with this DMS Agreement should not be construed as creating a partnership, joint venture, or employer-employee relationship of any kind, (ix) Services in connection with this DMS Agreement that require registration as a FINRA/SEC registered broker-dealer shall be performed exclusively by DMS or an associated person of DMS, (x) DMS is not providing any accounting, legal or tax advice, and (xi) will use "commercially reasonable efforts" to perform Services pursuant to this DMS Agreement but that this shall not give rise to any express or implied commitment by DMS to purchase or place any of the DMS Customer's securities. DMS <u>Customer explicitly acknowledges that DMS shall not and is under no duty to recommend DMS Customer's security and DMS is not selling DMS Customer's security to retail investors.</u>

**<u>6. Indemnification</u>**

<u>Insufficient Funding For A Claim</u>. If the foregoing indemnification or reimbursement is judicially determined to be unavailable or insufficient to fully indemnify and hold harmless DMS as an indemnified party against a Claim, the DMS Customer will contribute to the amount paid or payable by an indemnified party as a result of such Claim in such proportion as is appropriate to reflect the relative financial benefits of the Offering to the Company, on the one hand, and the indemnified party, on the other hand; or if such allocation is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits but also the relative fault of the DMS Customer on the one hand and the indemnified party on the other hand with respect to such Claim as well as any other relevant equitable considerations. Notwithstanding the preceding paragraphs, in no event will the aggregate amount to be contributed by all indemnified parties towards all Claims and DMS Customer losses, exceed the actual fees received by DMS pursuant to the DMS Agreement.

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**<u>7. Witness Reimbursement</u>**

In the event that DMS or any of its employees, officers, directors, affiliates or agents are requested or required to appear as a witness or subpoenaed to produce documents in any action in which the DMS Customer or any of its affiliates is a party to and DMS is not, the DMS Customer will reimburse DMS for all expenses incurred by its employees, officers, directors, affiliates or agents in preparing for and appearing as a witness or producing documents, including the reasonable fees and disbursements of legal counsel.

**<u>8. Notices</u>**

Any notices required by the agreement shall be in writing and shall be addressed and delivered via email at the email address included in the Order Form.

**<u>9. Confidentiality and Mutual Non-Disclosure:</u>**

Nothing contained herein shall be construed to prohibit the SEC, FINRA, or other government entities from obtaining, reviewing, and auditing any information, records, or data of either party containing Confidential Information, as defined in this Agreement.

<u>Disclosure and Retention Of Confidential Information.</u> DMS is hereby expressly permitted by DMS Customer to disclose Confidential Information to third parties involved in the Offering contemplated herein, provided that DMS Customer has been informed of such disclosure in advance and has approved such disclosure (either orally or in writing). DMS may retain one copy of the DMS Customer's Confidential Information to the extent necessary to comply with industry-specific document retention rules and other regulations, and in an archived computer backup system stored as a result of automated backup procedures for compliance purposes. DMS Customer acknowledges that regulatory record- keeping requirements, as well as securities industry best practices, require DMS to maintain copies of practically all data and communications, even after this Agreement is terminated.

**<u>10.</u> <u>Miscellaneous</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1. FINRA Arbitration Rules Apply To DMS Customers.** Notwithstanding anything to the contrary in this Agreement, ANY DISPUTE, CONTROVERSY, CLAIM OR CAUSE OF ACTION BETWEEN THE DMS Customer AND DMS DIRECTLY OR INDIRECTLY RELATING TO OR ARISING OUT OF THIS AGREEMENT, OR BREACH THEREOF required or allowed to be conducted by the Financial Industry Regulatory Authority's ("FINRA") rules (including the FINRA Code of Arbitration Procedure for Industry Disputes) shall be arbitrated in accordance with such rules. Any arbitration shall be before a neutral arbitrator or panel of arbitrators selected under the FINRA Neutral List Selection System (or any successor system) and in a forum designated by the Director of FINRA Dispute Resolution or any member of FINRA Staff to whom such Director has delegated authority. In general accordance with FINRA Rule 2268, by signing an arbitration agreement the parties agree as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.1. This Agreement contains a pre-dispute arbitration clause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.2. Except as otherwise provided in this Agreement, all parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.3. Arbitration awards are generally final and binding; a party's ability to have a court reverse or modify an arbitration award is very limited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.4. The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.5. The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.6. Any panel of arbitrators may include a minority of arbitrators who were or are affiliated with the securities industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.7. The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.8. The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1.9. As provided in FINRA Rule 2268, no person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is decertified; or (iii) the DMS Customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

10.2. **DMS Customer Identifying Information**. Pursuant to the requirements of Title III of Pub. L. 107-56 (the USA Patriot Act), as amended (the **"Patriot Act"**) and other applicable laws, rules and regulations, DMS is required to obtain, verify and record information that identifies the DMS Customer which information includes the name and address of the DM Customer and other information that that allows DMS to identify the DMS Customer in accordance with the Patriot Act and other such laws, rules and regulations.

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10.3. **Affiliates of DMS**: DMS Customer acknowledges that agreements with DMS affiliates (also referred to as DealMaker Entities in this Agreement), if any, shall be governed by the DMS affiliates' applicable terms of service and exclusive remedy for Marketing Services to recover any Losses against Customer in respect of the Agreement."

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![](exhibit1-1x006.jpg)

**DEALMAKER REACH, LLC CUSTOMER TERMS**

**For usage of DealMaker Marketing Services, the following additional terms apply to you ("Marketing Services Terms"):**

**<u>1.</u> <u>THE SERVICES</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1. Overview.** DM Reach shall provide certain digital marketing services as described on the Order Form (collectively, the **"Marketing Services"**) subject to the following additional terms and conditions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.** Customer shall provide Marketing Services with all reasonably necessary materials, company history, financial statements, business and market description, bios of principals and key employees, customers, products, services, tax returns, financial models, systems, pricing, intellectual property, technical specifications, access to social media channels, and all other pre-conditions necessary for providing the DM Marketing Services (the **"Information"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3.** The parties acknowledge and agree that all such Information comes from Customer and that Marketing Services does not create such Information and relies on its accuracy, ownership and property. Customer represents and warrants to the Marketing Services that all such Information is accurate, true and correct and that, in the event Information changes during the Marketing Services Term (as defined below), Customer shall provide updated Information to Marketing Services. Customer further acknowledges that Marketing Services bases its Services on such Information.

**<u>2.</u> <u>RELATIONSHIP</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1.** Marketing Services and Customer are independent contractors in all matters relating to Marketing Services. Marketing Services is not a broker-dealer, investment advisor, investment bank or financial advisor. Nothing in this Agreement shall be construed to create any partnership, joint venture, agency, employment, or any other relationship between the parties. Except for DM Reach's provision of DM Reach Services to Customer in connection with the Marketing Spend, neither party has the authority to act on behalf of or to enter into any contract, incur any liability, or make any representation on behalf of the other party, unless otherwise expressly agreed to in writing signed by both parties. Except for Marketing Services provision of its Services to Customer in connection with the Marketing Spend, neither party has the authority to act on behalf of or to enter into any contract, incur any liability, or make any representation on behalf of the other party, unless otherwise expressly agreed to in writing signed by both parties. Marketing Services has exclusive control over its employees, representatives, agents, contractors and subcontractors, and none of the foregoing shall be deemed to be employees of Customer or eligible to participate in any employment benefit plans or other benefits available to Customer employees. Customer shall exercise no immediate control over the actual means and manner of Marketing Services' performance under this Agreement, except to the extent that Customer expects the satisfactory completion of the Marketing Services under this Agreement. Each party is responsible for its respective employees, representatives, agents, contractors and subcontractors, and the foregoing's compliance with the terms of this Agreement. Marketing Services is not and shall not be deemed to be a dealer, broker, finder, intermediary or otherwise entitled to any brokerage, finder's, or other fee or commission in connection with any purchase or sale of securities resulting from Marketing Services' general marketing services. Marketing Services shall be solely responsible for all local, state and federal tax liabilities arising from any income received under this Agreement, whether cash or stock.

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**<u>3.</u> <u>FEES AND EXPENSES</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.** Customer is responsible for all costs and expenses incurred on Customer's behalf in connection with the provision of the Marketing Services (***"Expenses"***). Any Expenses outside of the agreed budget are subject to Customer's prior written approval. Customer is also responsible for its own costs and expenses incurred in connection with the Offering, and Customer acknowledges and agrees that the DealMaker Entities collect compensation related to the Offering as set forth in the terms and conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2. Budget and Marketing Spend.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.1. As part of engaging Marketing Services, Customer is authorizing and directing Marketing Services to allocate the marketing and advertising budget expended during the Customer's marketing campaign (***"Marketing Spend"***).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.2. Ad Network ("Ad Network"). The Ad Network Program is an invitation-based program in which Customers may have the opportunity to purchase advertising slots in a variety of publications as part of Marketing Spend ("Advertising Placement") subject to Customer's agreement to the Ad Network terms and conditions set out herein ("Ad Network Program"). Customer acknowledges that it may be eligible for the Ad Network Program, however Marketing Services has sole control of whether Customer is admitted to the Ad Network Program, as described in the Summary of Compensation. Customer acknowledges that Marketing Services manages the program and charges fees for the Ad Network Program. Customer explicitly acknowledges that Marketing Services shall have sole discretion to terminate Customer's participation in the Ad Network Program for non-compliance with Ad Network Program terms and conditions.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.3. For Customers eligible for the Ad Network Program, Marketing Services shall have discretion to allocate Marketing Spend during the marketing campaign, except for charges in connection with the placement of Ad Network advertising placements (**"Advertising Placement"**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.4. Customer shall approve Ad Network Costs in accordance with required timelines by either

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) executing an authorization for each placement (**"Ad Network Insertion Order"**) or (b) pre- approval of a bi-weekly budget for all Ad Network Costs (**"Approved Ad Network Budget"**) as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Ad Network Insertion Order:**

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. DealMaker shall present Ad Network opportunity proposals (**"Ad Network Proposal"**) to Customer for approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. Once Customer approves an Ad Network Proposal, DealMaker shall provide a DealMaker Ad Network Program Insertion Order (**"Ad Network Insertion Order"**) to Customer for a specific Advertisig Placement. By electronically executing the Ad Network Insertion Order, Customer authorizes Marketing Services to incur the Ad Network Costs listed on the Ad Network Insertion Order. Marketing Services shall not incur Ad Network Costs without the written approved Ad Network Insertion Order from Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. Customer acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Customer must execute Ad Network Insertion Order and prepay Marketing Services for all Ad Network Costs before Marketing Services places ad advertisement on Customer's behalf. Once a Customer executes the Ad Network Invoice (**"Ad Network Invoice"**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. Ad Network Costs and Ad Network Invoices are non-cancellable and non- refundable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. Customer's timely payment of Ad Network Costs is required to maintain the integrity of the Ad Network Program; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. If Customer fails to pay Ad Network Costs in accordance with the timelines set out in an Ad Network Insertion Order, DealMaker may remove Customer from the Ad Network Program, unless otherwise stated on the Ad Network Insertion Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. The Content of Ad Network Advertising Placements shall be approved by the Customer as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Customer shall receive proposed content of Advertising Placement from DealMaker (**"Feedback Date"**) prior to the Advertising Placement publication date listed on the Ad Network Insertion Order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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. Customer shall approve Advertising Placement publication content in writing within 48 hours of the Feedback Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. If Customer approval or Customer Feedback is not received within 48 hours of the Feedback Date, the Advertising Placement will be published as initially presented to Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) **Approved Ad Network Budget**: On a bi-weekly basis, Customer shall provide written approval of an Ad Network Budget. Marketing Services shall have full discretion to allocate Ad Network Costs for the placement of advertisements up to the bi-weekly Approved Ad Network Budget. All Marketing Spend and Ad Network Costs up to the agreed budget amount will be charged directly to Customer's provided payment method.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Ad Network Costs in connection with the purchase of Advertising Placements will incur a media management fee as indicated on the Order Form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.5. Customer acknowledges that Marketing Services or its affiliates (a) may have an ownership interest in some providers of placement advertisements, details of which are available upon Customer's request; and (b) as a result of Marketing Services relationships and negotiated terms with various vendors, certain benefits may accrue to Marketing Services or its affiliates including but not limited to additional revenue from certain partnership placements. Unless Customer expressly instructs otherwise, Marketing Services may use its discretion in deploying Marketing Spend, including but not limited to approved Ad Network Costs.

**<u>4.</u> <u>Customer Representations</u>**

Customer further acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1. Return on Marketing Spend, Ad Network spend and/or advertising spend (***"Return"***) can vary greatly with each Offering or campaign and may differ from historical averages, both with respect to Marketing Services fees and fees for any third party partners introduced by Marketing Services or its affiliates. Historical data, averages and information are not a representation of what can be achieved in any particular Offering or campaign as each Offering and campaign is unique and influenced by numerous external factors including but not limited to the Customer's industry, the Customer's management team, the economic environment at the time of an Offering and the funds available for Marketing Spend and Ad Network Costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2. There are many marketing strategies and tools available to raise capital. Customer is

responsible for selecting the capital raising approach that is best suited to Customer's business. Marketing Services and its affiliates cannot predict and do not guarantee that a market participant will attain a particular result. The success of an Offering depends on the Customer's own effort, motivation, commitment and follow-through.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3. Customer may use the marketing assets created pursuant to this Agreement for purposes other than raising capital. For example, Marketing Spend and Ad Network Costs may be used to create valuable Customer brand collateral, brand positioning, investor mailing lists and investor analytics, regardless of the amount of capital raised. Customer shall be solely responsible for using the marketing assets created pursuant to this Agreement for purposes other than raising capital.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4. Services provided by Marketing services may involve, among other things, communicating with third party publishers to secure advertising space for Marketing Services Customer, including but not limited to Advertising Placements (**"Publishers"**). Customer agrees and warrants that it shall not, directly or indirectly, or through a third party, contact said Publishers by any means and shall not interfere with, circumvent, attempt to circumvent, avoid or bypass Marketing Services' communication with Publishers, interfere with the relationship between Marketing Services and Publishers for the purpose of gaining any benefit, whether such benefit is monetary or otherwise or re-sell paid media or advertising placements to DealMaker Customers without the express written consent of Marketing Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5. In connection with the Customer's use of Publishers through Marketing Services, whether through the DealMaker Ad Network or otherwise, Customer is responsible for ensuring that it has obtained all necessary rights, consents, and permissions from its own clients/investors for the collection, processing, and use of their data in accordance with applicable law. Customer represents that Customer or its agents have obtained from its clients/investors clear and conspicuous consents regarding the collection and use of their data and personal information, the sharing of this data with Publishers for the purpose of sending Customer's advertising publications and has provided its clients/investors with an option to opt out of the processing of their personal information. The Customer acknowledges and agrees that use of the client/investor data by Marketing Services or its affiliates is predicated upon the Customer's fulfillment of these responsibilities. The Customer shall indemnify, defend, and hold harmless Marketing Services and its affiliates from and against any claims, damages, liabilities, and expenses (including reasonable attorneys' fees) arising out of or relating to the Customer's failure to obtain such consents or comply with this clause.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6. Production Services. Marketing Services shall include production services as set out in the Order Form ("**Production Services**"). Customer acknowledges that Production Services may involve the use of third party vendors by Marketing Services in connection with performance of Production Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7. **Payment.** The Customer will be billed as set out in the Terms. At the end of the month in which the Marketing Services are delivered, payment will be automatically debited from the Customer's bank account or credit card on file, with a receipt to be automatically delivered. Invoices will be available for the Customer to review upon request. In respect of **Ad Network Costs** only, such costs shall be due and payable on or before the due date on the invoice (**"Due Date"**) using ACH or the Client's pre-authorized payment method on file, unless stated otherwise on the Customer Ad Network Insertion Order. Marketing Services reserves the right to charge the Client's pre-authorized payment method on file for the amount of the Ad Network Costs invoice that is an Aged Invoice (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8. **Paused Marketing Services.** Customer may request that Marketing Services (and corresponding Fees) be paused (**"Pause Date"**). Customer shall pay (a) any Ad Network Costs incurred prior to the Pause Date; and (b) Marketing Services' monthly service fees for sixty (60) days from the Pause Date. When a campaign is paused, Marketing Services may place the campaign in a queue behind other marketing Campaigns that are ready to launch (**"Launch Queue"**). Customer acknowledges that Marketing Services may not have staff available to relaunch a paused campaign on the Customer's date of choice. Customer campaign may be relaunched once Customer's campaign reaches the beginning of the Launch Queue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9. **Unpaid Invoices**. Notwithstanding anything to the contrary in the Agreement, in the event that Customer fails to pay all outstanding invoices pursuant to this Agreement, Customer agrees that it shall pay the full amount of the outstanding invoices from the proceeds of the Offering, within seven (7) days of the disbursement of such proceeds to the Customer, plus applicable interest. In the event that a Customer payment for any Marketing Services invoice fails, Customer has fourteen (14) days to re-connect their bank account or credit card and submit payment for any outstanding invoices. In the event that payment for all outstanding invoices is not cleared within 14 days, all advertisements and services provided by Marketing Services will be paused until payment is received and the Customer's bank account or credit card authorization is restored, except for non- payment of Ad Network Costs by Due Date, which shall result in immediate cancellation of the advertising placements. In the event that Customer fails to pay any invoice due and payable (**"Aged Invoices"**) to Marketing Services and such Aged Invoices are not cleared or Customer account is not brought back into good standing within 30 days, all services provided by Marketing Services pursuant to this Agreement will be paused and Customer's campaign will be placed at the end of the Launch Queue until payment is received in full. Once payment is received in full, Customer's campaign will move forward through the Launch Queue.

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***Customer acknowledges that marketing assets created using services provided by Marketing Services shall not be released to Customer until all outstanding invoices and Aged Invoices are paid in full. Marketing Services shall have the right to register a lien on any assets or property of the Customer in respect of fees owed and outstanding to Marketing Services for more than sixty (60) days.***

**<u>5. WORK PRODUCT OWNERSHIP</u>**

**<u>6. ADDITIONAL INDEMNIFICATION</u>**

Notwithstanding and without limitation of any other provision of this Agreement, and notwithstanding whether such losses or damages are foreseeable or unforeseeable, Marketing Services shall not be liable under any circumstances whatsoever for any breach by any other Customer Partner, which term includes third party consultants, agents, corporations, partnerships, trusts or any other entities involved in the placement of partnership advertisements, of securities laws or other rule of any securities regulatory authority, for lost profits or for special, indirect, incidental, consequential, exemplary, aggravated or punitive losses or damages. Customer agrees that its liability hereunder shall be absolute and unconditional, regardless of the correctness of any representations of any third parties and regardless of any liability of third parties to Marketing Services or any of the Indemnified Parties and shall accrue and become enforceable without prior demand or any other precedent action or proceeding. Customer shall ensure that all agreements with the Customer's Partners include the following indemnity:

"Partner agrees to indemnify, defend and hold Customer and any current or former officers, directors, employees, subsidiaries, affiliates, partners, agents or contractors (**"Representatives"**) harmless from any and all costs, demands, damages, losses, fees, expenses and liabilities (including attorneys' fees and costs) (**"Losses"**) as a result of any third parties demands, regulatory investigations, causes of action, losses, damages, liabilities, costs, fines, claims, class actions and expenses (including reasonable attorney's fees) (**"Claims"**) in connection with the services provided and the content prepared by the Partner for the Offering, unless Customer is proven to have been grossly negligent." The Parties hereby agree that Marketing Services shall be a third party beneficiary of such indemnity provisions in the Customer's agreement with Partner in respect of any "Losses" suffered by Marketing Services related to the Partner's services in respect of the Offering. The Parties further agree that this remedy shall not be the sole and exclusive remedy for Marketing Services to recover any Losses against Customer in respect of the Agreement."

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**Customer further agrees that with respect to Publishers who are retained by Marketing Services on Customer's behalf to place Customer's advertisements in third party publications, Customer shall indemnify and hold harmless Publishers and their Representatives with respect to any Claims arising from Customer content provided directly or indirectly to Publisher.**

**<u>7.</u> <u>GENERAL</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1. Customer No Unauthorized Usage.** Customer acknowledges that Marketing Services Customers must use DealMaker as the platform for their Offering, and Customer must execute a separate Order form with Novation Solutions Inc., o/a DealMaker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.** Customer acknowledges that it is engaging in a self-hosted raise. Customer is responsible for carrying out the self-hosted capital raise and bears primary responsibility for the success of its own Offering. Customer understands that Marketing Services does not and cannot make any guarantees about Customer's campaign of Offering. No language or provision in this Agreement or any related proposal shall be construed as a guarantee or warranty of any type by Marketing Services, including, without limitation, the success of the Customer's campaign or the Offering, the amount of funds raised in the Offering, the costs associated with the capital raised in an Offering or anything relating to the scope of work or quality of work by Marketing Services on the Customer's campaign.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.3.** Customer understands and acknowledges that all changes to marketing assets and marketing collateral, including but not limited to, the Customer's website for the Offering and all press releases, must be reviewed according to the terms of Customer's broker-dealer engagement agreement, where Customer has retained a broker-dealer.

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## Ex1A-2A

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![](exhibit2-1xu001.jpg)

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## Ex1A-2A

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![](exhibit2-3xu001.jpg)

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![](exhibit2-3xu002.jpg)

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---

| | |
|:---|:---|
| ***Incorporation number:*** | BC1260079 |

---

 **NAQI LOGICS INC.<br>(the "Company")**

**<u>ARTICLES</u>**

**1.** **INTERPRETATION**

**1.1.** **Definitions**

In these Articles, unless the context otherwise requires:

(1) "board of directors", "directors" and "board" mean the directors or sole director of the

Company for the time being;

(2) "Business Corporations Act" means the *Business Corporations Act* (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act;

(3) "Interpretation Act" means the Interpretation Act (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act;

(4) "legal personal representative" means the personal or other legal representative of a shareholder;

(5) "registered address" of a shareholder means the shareholder's address as recorded in the central securities register;

(6) "seal" means the seal of the Company, if any.

**1.2.** **Business Corporations Act and Interpretation Act Definitions Applicable**

The definitions in the Business Corporations Act and the definitions and rules of construction in the Interpretation Act, with the necessary changes, so far as applicable, and unless the context requires otherwise, apply to these Articles as if they were an enactment. If there is a conflict between a definition in the Business Corporations Act and a definition or rule in the Interpretation Act relating to a term used in these Articles, the definition in the Business Corporations Act will prevail in relation to the use of the term in these Articles. If there is a conflict or inconsistency between these Articles and the Business Corporations Act, the Business Corporations Act will prevail.

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**2.** **SHARES AND SHARE CERTIFICATES**

**2.1.** **Authorized Share Structure**

The authorized share structure of the Company consists of shares of the class or classes and series, if any, described in the Notice of Articles of the Company.

**2.2.** **Form of Share Certificate**

Each share certificate issued by the Company must comply with, and be signed as required by, the Business Corporations Act.

**2.3.** **Shareholder Entitled to Certificate or Acknowledgement**

Each shareholder is entitled, without charge, to (a) one share certificate representing the shares of each class or series of shares registered in the shareholder's name or (b) a non-transferable written acknowledgement of the shareholder's right to obtain such a share certificate, provided that in respect of a share held jointly by several persons, the Company is not bound to issue more than one share certificate or acknowledgement and delivery of a share certificate or an acknowledgement to one of several joint shareholders or to a duly authorized agent of one of the joint shareholders will be sufficient delivery to all.

**2.4.** **Delivery by Mail**

Any share certificate or non-transferable written acknowledgement of a shareholder's right to obtain a share certificate may be sent to the shareholder by mail at the shareholder's registered address and neither the Company nor any director, officer or agent of the Company is liable for any loss to the shareholder because the share certificate or acknowledgement is lost in the mail or stolen.

**2.5.** **Replacement of Worn Out or Defaced Certificate or Acknowledgement**

If the directors are satisfied that a share certificate or a non-transferable written acknowledgement of the shareholder's right to obtain a share certificate is worn out or defaced, they must, on production to them of the share certificate or acknowledgement, as the case may be, and on such other terms, if any, as they think fit:

(1) order the share certificate or acknowledgement, as the case may be, to be cancelled; and

(2) issue a replacement share certificate or acknowledgement, as the case may be.

**2.6.** **Replacement of Lost, Stolen or Destroyed Certificate or Acknowledgement**

If a share certificate or a non-transferable written acknowledgement of a shareholder's right to obtain a share certificate is lost, stolen or destroyed, a replacement share certificate or acknowledgement, as the case may be, must be issued to the person entitled to that share certificate or acknowledgement, as the case may be, if the directors receive:

(1) proof satisfactory to them that the share certificate or acknowledgement is lost, stolen or destroyed; and

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(2) any indemnity the directors consider adequate.

**2.7.** **Splitting Share Certificates**

If a shareholder surrenders a share certificate to the Company with a written request that the Company issue in the shareholder's name two or more share certificates, each representing a specified number of shares and in the aggregate representing the same number of shares as the share certificate so surrendered, the Company must cancel the surrendered share certificate and issue replacement share certificates in accordance with that request.

**2.8.** **Certificate Fee**

There must be paid to the Company, in relation to the issue of any share certificate under Articles 2.5, 2.6 or 2.7, the amount, if any and which must not exceed the amount prescribed under the Business Corporations Act, determined by the directors.

**2.9.** **Recognition of Trusts**

Except as required by law or statute or these Articles, no person will be recognized by the Company as holding any share upon any trust, and the Company is not bound by or compelled in any way to recognize (even when having notice thereof) any equitable, contingent, future or partial interest in any share or fraction of a share or (except as required by law or statute or these Articles or as ordered by a court of competent jurisdiction) any other rights in respect of any share except an absolute right to the entirety thereof in the shareholder.

**3.** **ISSUE OF SHARES**

**3.1.** **Directors Authorized**

Subject to the Business Corporations Act and the rights, if any, of the holders of issued shares of the Company, the Company may issue, sell or otherwise dispose of the unissued shares, and issued shares held by the Company, at the times, to the persons, including directors, in the manner, on the terms and conditions and for the issue prices (including any premium at which shares with par value may be issued) that the directors may determine. The issue price for a share with par value must be equal to or greater than the par value of the share.

**3.2.** **Commissions and Discounts**

The Company may at any time pay a reasonable commission or allow a reasonable discount to any person in consideration of that person purchasing or agreeing to purchase shares of the Company from the Company or any other person or procuring or agreeing to procure purchasers for shares of the Company.

**3.3.** **Brokerage**

The Company may pay such brokerage fee or other consideration as may be lawful for or in connection with the sale or placement of its securities.

------

**3.4.** **Conditions of Issue**

Except as provided for by the Business Corporations Act, no share may be issued until it is fully paid. A share is fully paid when:

(1) consideration is provided to the Company for the issue of the share by one or more of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) past services performed for the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) money; and

(2) the value of the consideration received by the Company equals or exceeds the issue price set for the share under Article 3.1.

**3.5.** **Share Purchase Warrants and Rights**

**4.** **SHARE REGISTERS**

**4.1.** **Central Securities Register**

As required by and subject to the Business Corporations Act, the Company must maintain in British Columbia a central securities register. The directors may, subject to the Business Corporations Act, appoint an agent to maintain the central securities register. The directors may also appoint one or more agents, including the agent which keeps the central securities register, as transfer agent for its shares or any class or series of its shares, as the case may be, and the same or another agent as registrar for its shares or such class or series of its shares, as the case may be. The directors may terminate such appointment of any agent at any time and may appoint another agent in its place.

**4.2.** **Closing Register**

The Company must not at any time close its central securities register.

**5.** **SHARE TRANSFERS**

**5.1.** **Registering Transfers**

A transfer of a share of the Company must not be registered unless the Company or the transfer agent or registrar for the class or series of share to be transferred has received:

(1) a duly signed instrument of transfer in respect of the share;

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(2) if a share certificate has been issued by the Company in respect of the share to be transferred, that share certificate;

(3) if a non-transferable written acknowledgement of the shareholder's right to obtain a share certificate has been issued by the Company in respect of the share to be transferred, that acknowledgement; and

(4) such other evidence, if any, as the Company or the transfer agent or registrar for the class or series of share to be transferred may require to prove the title of the transferor or the transferor's right to transfer the share, the due signing of the instrument of transfer and the right of the transferee to have the transfer registered.

**5.2.** **Form of Instrument of Transfer**

The instrument of transfer in respect of any share of the Company must be either in the form, if any, on the back of the Company's share certificates or in any other form that may be approved by the directors from time to time.

**5.3.** **Transferor Remains Shareholder**

Except to the extent that the Business Corporations Act otherwise provides, the transferor of shares is deemed to remain the holder of the shares until the name of the transferee is entered in a securities register of the Company in respect of the transfer.

**5.4.** **Signing of Instrument of Transfer**

If a shareholder, or his or her duly authorized attorney, signs an instrument of transfer in respect of shares registered in the name of the shareholder, the signed instrument of transfer constitutes a complete and sufficient authority to the Company and its directors, officers and agents to register the number of shares specified in the instrument of transfer or specified in any other manner, or, if no number is specified, all the shares represented by the share certificates or set out in the written acknowledgements deposited with the instrument of transfer:

(1) in the name of the person named as transferee in that instrument of transfer; or

(2) if no person is named as transferee in that instrument of transfer, in the name of the person on whose behalf the instrument is deposited for the purpose of having the transfer registered.

**5.5.** **Enquiry as to Title Not Required**

Neither the Company nor any director, officer or agent of the Company is bound to inquire into the title of the person named in the instrument of transfer as transferee or, if no person is named as transferee in the instrument of transfer, of the person on whose behalf the instrument is deposited for the purpose of having the transfer registered or is liable for any claim related to registering the transfer by the shareholder or by any intermediate owner or holder of the shares, of any interest in the shares, of any share certificate representing such shares or of any written acknowledgement of a right to obtain a share certificate for such shares.

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**5.6.** **Transfer Fee**

There must be paid to the Company, in relation to the registration of any transfer, the amount, if any, determined by the directors.

**6.** **TRANSMISSION OF SHARES**

**6.1.** **Legal Personal Representative Recognized on Death**

In case of the death of a shareholder, the legal personal representative of the shareholder, or in the case of shares registered in the shareholder's name and the name of another person in joint tenancy, the surviving joint holder, will be the only person recognized by the Company as having any title to the shareholder's interest in the shares. Before recognizing a person as a legal personal representative of a shareholder, the directors may require proof of appointment by a court of competent jurisdiction, a grant of letters probate, letters of administration or such other evidence or documents as the directors consider appropriate.

**6.2.** **Rights of Legal Personal Representative**

The legal personal representative of a shareholder has the same rights, privileges and obligations that attach to the shares held by the shareholder, including the right to transfer the shares in accordance with these Articles, provided the documents required by the Business Corporations Act and the directors have been deposited with the Company. This Article 6.2 does not apply in the case of the death of a shareholder with respect to shares registered in the shareholder's name and the name of another person in joint tenancy.

**7.** **PURCHASE OF SHARES**

**7.1.** **Company Authorized to Purchase Shares**

Subject to Article 7.2, the special rights and restrictions attached to the shares of any class or series and the Business Corporations Act, the Company may, if authorized by the directors, purchase or otherwise acquire any of its shares at the price and upon the terms determined by the directors.

**7.2.** **Purchase When Insolvent**

The Company must not make a payment or provide any other consideration to purchase or otherwise acquire any of its shares if there are reasonable grounds for believing that:

(1) the Company is insolvent; or

(2) making the payment or providing the consideration would render the Company insolvent.

**7.3.** **Sale and Voting of Purchased Shares**

If the Company retains a share redeemed, purchased or otherwise acquired by it, the Company may sell, gift or otherwise dispose of the share, but, while such share is held by the Company, it:

(1) is not entitled to vote the share at a meeting of its shareholders;

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(2) must not pay a dividend in respect of the share; and

(3) must not make any other distribution in respect of the share.

**8.** **BORROWING POWERS**

The Company, if authorized by the directors, may:

(1) borrow money in the manner and amount, on the security, from the sources and on the terms and conditions that they consider appropriate;

(2) issue bonds, debentures and other debt obligations either outright or as security for any liability or obligation of the Company or any other person and at such discounts or premiums and on such other terms as they consider appropriate;

(3) guarantee the repayment of money by any other person or the performance of any obligation of any other person; and

(4) mortgage, charge, whether by way of specific or floating charge, grant a security interest in, or give other security on, the whole or any part of the present and future assets and undertaking of the Company.

**9.** **ALTERATIONS**

**9.1.** **Alteration of Authorized Share Structure**

Subject to Article 9.2 and the Business Corporations Act, the Company may by special resolution:

(1) create one or more classes or series of shares or, if none of the shares of a class or series of shares are allotted or issued, eliminate that class or series of shares;

(2) increase, reduce or eliminate the maximum number of shares that the Company is authorized to issue out of any class or series of shares or establish a maximum number of shares that the Company is authorized to issue out of any class or series of shares for which no maximum is established;

(3) subdivide or consolidate all or any of its unissued, or fully paid issued, shares;

(4) if the Company is authorized to issue shares of a class of shares with par value:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) decrease the par value of those shares; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if none of the shares of that class of shares are allotted or issued, increase the par value of those shares;

(5) change all or any of its unissued, or fully paid issued, shares with par value into shares without par value or any of its unissued shares without par value into shares with par value;

(6) alter the identifying name of any of its shares; or

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(7) otherwise alter its shares or authorized share structure when required or permitted to do so by the Business Corporations Act;

and, if applicable, alter its Notice of Articles and, if applicable, its Articles, accordingly.

**9.2.** **Special Rights and Restrictions**

Subject to the Business Corporations Act, the Company may by special resolution:

(1) create special rights or restrictions for, and attach those special rights or restrictions to, the shares of any class or series of shares, whether or not any or all of those shares have been issued; or

(2) vary or delete any special rights or restrictions attached to the shares of any class or series of shares, whether or not any or all of those shares have been issued;

and alter its Articles and Notice of Articles accordingly.

**9.3.** **Change of Name**

The Company may by special resolution authorize an alteration of its Notice of Articles in order to change its name and may by ordinary resolution or directors' resolution adopt or change any translation of that name.

**9.4.** **Other Alterations**

If the Business Corporations Act does not specify the type of resolution and these Articles do not specify another type of resolution, the Company may by special resolution alter these Articles.

**10.** **MEETINGS OF SHAREHOLDERS**

**10.1.** **Annual General Meetings**

Unless an annual general meeting is deferred or waived in accordance with the Business Corporations Act, the Company must hold its first annual general meeting within 18 months after the date on which it was incorporated or otherwise recognized, and after that must hold an annual general meeting at least once in each calendar year and not more than 15 months after the last annual reference date at such time and place as may be determined by the directors.

**10.2.** **Resolution Instead of Annual General Meeting**

If all the shareholders who are entitled to vote at an annual general meeting consent by a unanimous resolution to all of the business that is required to be transacted at that annual general meeting, the annual general meeting is deemed to have been held on the date of the unanimous resolution. The shareholders must, in any unanimous resolution passed under this Article 10.2, select as the Company's annual reference date a date that would be appropriate for the holding of the applicable annual general meeting.

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**10.3.** **Calling and Location of Meetings of Shareholders**

The directors may, at any time, call a meeting of shareholders. The location of a meeting of shareholders shall be determined by the directors and may be within or outside British Columbia.

**10.4.** **Notice for Meetings of Shareholders**

The Company must send notice of the date, time and location of any meeting of shareholders (including, without limitation, any notice specifying the intention to propose a resolution as an exceptional resolution, a special resolution or a special separate resolution, and any notice to consider approving an amalgamation into a foreign jurisdiction, an arrangement or the adoption of an amalgamation agreement, and any notice of a general meeting, class meeting or series meeting), in the manner provided in these Articles, or in such other manner, if any, as may be prescribed by ordinary resolution (whether previous notice of the resolution has been given or not), to each shareholder entitled to attend the meeting, to each director and to the auditor of the Company, unless these Articles otherwise provide, at least the following number of days before the meeting:

(1) if and for so long as the Company is a public company, 21 days;

(2) otherwise, 10 days.

**10.5.** **Record Date for Notice**

The directors may set a date as the record date for the purpose of determining shareholders entitled to notice of any meeting of shareholders. The record date must not precede the date on which the meeting is to be held by more than two months or, in the case of a general meeting requisitioned by shareholders under the Business Corporations Act, by more than four months. The record date must not precede the date on which the meeting is held by fewer than:

(1) if and for so long as the Company is a public company, 21 days;

(2) otherwise, 10 days.

If no record date is set, the record date is 5 p.m. on the day immediately preceding the first date on which the notice is sent or, if no notice is sent, the beginning of the meeting.

**10.6.** **Record Date for Voting**

The directors may set a date as the record date for the purpose of determining shareholders entitled to vote at any meeting of shareholders. The record date must not precede the date on which the meeting is to be held by more than two months or, in the case of a general meeting requisitioned by shareholders under the Business Corporations Act, by more than four months. If no record date is set, the record date is 5 p.m. on the day immediately preceding the first date on which the notice is sent or, if no notice is sent, the beginning of the meeting.

**10.7.** **Failure to Give Notice and Waiver of Notice**

The accidental omission to send notice of any meeting of shareholders to, or the non-receipt of any notice by, any of the persons entitled to notice does not invalidate any proceedings at that meeting.

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Any person entitled to notice of a meeting of shareholders may, in writing or otherwise, waive that entitlement or may agree to reduce the period of that notice. Attendance of a person at a meeting of shareholders is a waiver of entitlement to notice of the meeting, unless that person attends the meeting for the express purpose of objecting to the transaction of any business on the grounds that the meeting is not lawfully called.

**10.8.** **Notice of Special Business at Meetings of Shareholders**

If a meeting of shareholders is to consider special business within the meaning of Article 11.1, the notice of meeting must:

(1) state the general nature of the special business; and

(2) if the special business includes considering, approving, ratifying, adopting or authorizing any document or the signing of or giving of effect to any document, have attached to it a copy of the document or state that a copy of the document will be available for inspection by shareholders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the Company's records office, or at such other reasonably accessible location in

British Columbia as is specified in the notice; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) during statutory business hours on any one or more specified days before the day set for the holding of the meeting.

**10.9.** **Notice of Dissent Rights**

The Company must send to each of its shareholders, whether or not their shares carry the right to vote, a notice of any meeting of shareholders at which a resolution entitling shareholders to dissent is to be considered specifying the date of the meeting and containing a statement advising of the right to send a notice of dissent together with a copy of the proposed resolution at least the following number of days before the meeting:

(1) if and for so long as the Company is a public company, 21 days;

(2) otherwise, 10 days.

**11.** **PROCEEDINGS AT MEETINGS OF SHAREHOLDERS**

**11.1.** **Special Business**

At a meeting of shareholders, the following business is special business:

(1) at a meeting of shareholders that is not an annual general meeting, all business is special business except business relating to the conduct of or voting at the meeting;

(2) at an annual general meeting, all business is special business except for the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) business relating to the conduct of or voting at the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) consideration of any financial statements of the Company presented to the meeting;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) consideration of any reports of the directors or auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the setting or changing of the number of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the election or appointment of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the appointment of an auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the setting of the remuneration of an auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) business arising out of a report of the directors not requiring the passing of a special resolution or an exceptional resolution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any other business which, under these Articles or the Business Corporations Act, may be transacted at a meeting of shareholders without prior notice of the business being given to the shareholders.

**11.2.** **Special Majority**

The majority of votes required for the Company to pass a special resolution at a general meeting of shareholders is two-thirds of the votes cast on the resolution.

**11.3.** **Quorum**

Subject to the special rights and restrictions attached to the shares of any class or series of shares and to Article 11.4, the quorum for the transaction of business at a meeting of shareholders is two persons who are, or who represent by proxy, shareholders who, in the aggregate, hold at least 5% of the issued shares entitled to be voted at the meeting.

**11.4.** **One Shareholder May Constitute Quorum**

If there is only one shareholder entitled to vote at a meeting of shareholders:

(1) the quorum is one person who is, or who represents by proxy, that shareholder, and

(2) that shareholder, present in person or by proxy, may constitute the meeting.

**11.5.** **Persons Entitled to Attend Meeting**

In addition to those persons who are entitled to vote at a meeting of shareholders, the only other persons entitled to be present at the meeting are the directors, the president (if any), the secretary (if any), the assistant secretary (if any), any lawyer for the Company, the auditor of the Company, any persons invited to be present at the meeting by the directors or by the chair of the meeting and any persons entitled or required under the Business Corporations Act or these Articles to be present at the meeting; but if any of those persons does attend the meeting, that person is not to be counted in the quorum and is not entitled to vote at the meeting unless that person is a shareholder or proxy holder entitled to vote at the meeting.

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**11.6.** **Requirement of Quorum**

No business, other than the election of a chair of the meeting and the adjournment of the meeting, may be transacted at any meeting of shareholders unless a quorum of shareholders entitled to vote is present at the commencement of the meeting, but such quorum need not be present throughout the meeting.

**11.7.** **Lack of Quorum**

If, within one-half hour from the time set for the holding of a meeting of shareholders, a quorum is not present:

(1) in the case of a general meeting requisitioned by shareholders, the meeting is dissolved, and

(2) in the case of any other meeting of shareholders, the meeting stands adjourned to the same day in the next week at the same time and place.

**11.8.** **Lack of Quorum at Succeeding Meeting**

If, at the meeting to which the meeting referred to in Article 11.7(2) was adjourned, a quorum is not present within one-half hour from the time set for the holding of the meeting, the person or persons present and being, or representing by proxy, one or more shareholders entitled to attend and vote at the meeting constitute a quorum.

**11.9.** **Chair**

The following individual is entitled to preside as chair at a meeting of shareholders:

(1) the chair of the board, if any; or

(2) if the chair of the board is absent or unwilling to act as chair of the meeting, the president, if any.

**11.10. Selection of Alternate Chair**

If, at any meeting of shareholders, there is no chair of the board or president present within 15 minutes after the time set for holding the meeting, or if the chair of the board and the president are unwilling to act as chair of the meeting, or if the chair of the board and the president have advised the secretary, if any, or any director present at the meeting, that they will not be present at the meeting, the directors present must choose one of their number to be chair of the meeting or if all of the directors present decline to take the chair or fail to so choose or if no director is present, the shareholders entitled to vote at the meeting who are present in person or by proxy may choose any person present at the meeting to chair the meeting.

**11.11. Adjournments**

The chair of a meeting of shareholders may, and if so directed by the meeting must, adjourn the meeting from time to time and from place to place, but no business may be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place.

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**11.12. Notice of Adjourned Meeting**

It is not necessary to give any notice of an adjourned meeting of shareholders or of the business to be transacted at an adjourned meeting of shareholders except that, when a meeting is adjourned for 30 days or more, notice of the adjourned meeting must be given as in the case of the original meeting.

**11.13. Decisions by Show of Hands or Poll**

Subject to the Business Corporations Act, every motion put to a vote at a meeting of shareholders will be decided on a show of hands unless a poll, before or on the declaration of the result of the vote by show of hands, is directed by the chair or demanded by any shareholder entitled to vote who is present in person or by proxy.

**11.14. Declaration of Result**

The chair of a meeting of shareholders must declare to the meeting the decision on every question in accordance with the result of the show of hands or the poll, as the case may be, and that decision must be entered in the minutes of the meeting. A declaration of the chair that a resolution is carried by the necessary majority or is defeated is, unless a poll is directed by the chair or demanded under Article 11.13, conclusive evidence without proof of the number or proportion of the votes recorded in favour of or against the resolution.

**11.15. Motion Need Not be Seconded**

No motion proposed at a meeting of shareholders need be seconded unless the chair of the meeting rules otherwise, and the chair of any meeting of shareholders is entitled to propose or second a motion.

**11.16. Casting Vote**

In case of an equality of votes, the chair of a meeting of shareholders does not, either on a show of hands or on a poll, have a second or casting vote in addition to the vote or votes to which the chair may be entitled as a shareholder.

**11.17. Manner of Taking Poll**

Subject to Article 11.18, if a poll is duly demanded at a meeting of shareholders:

(1) the poll must be taken:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the meeting, or within seven days after the date of the meeting, as the chair of the meeting directs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the manner, at the time and at the place that the chair of the meeting directs;

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(2) the result of the poll is deemed to be the decision of the meeting at which the poll is demanded; and

(3) the demand for the poll may be withdrawn by the person who demanded it.

**11.18. Demand for Poll on Adjournment**

A poll demanded at a meeting of shareholders on a question of adjournment must be taken immediately at the meeting.

**11.19. Chair Must Resolve Dispute**

In the case of any dispute as to the admission or rejection of a vote given on a poll, the chair of the meeting must determine the dispute, and his or her determination made in good faith is final and conclusive.

**11.20. Casting of Votes**

On a poll, a shareholder entitled to more than one vote need not cast all the votes in the same way.

**11.21. No Demand for Poll on Election of Chair**

No poll may be demanded in respect of the vote by which a chair of a meeting of shareholders is elected.

**11.22. Demand for Poll Not to Prevent Continuance of Meeting**

The demand for a poll at a meeting of shareholders does not, unless the chair of the meeting so rules, prevent the continuation of a meeting for the transaction of any business other than the question on which a poll has been demanded.

**11.23. Retention of Ballots and Proxies**

The Company must, for at least three months after a meeting of shareholders, keep each ballot cast on a poll and each proxy voted at the meeting, and, during that period, make them available for inspection during normal business hours by any shareholder or proxyholder entitled to vote at the meeting. At the end of such three month period, the Company may destroy such ballots and proxies.

**12.** **VOTES OF SHAREHOLDERS**

**12.1.** **Number of Votes by Shareholder or by Shares**

Subject to any special rights or restrictions attached to any shares and to the restrictions imposed on joint shareholders under Article 12.3:

(1) on a vote by show of hands, every person present who is a shareholder or proxy holder and entitled to vote on the matter has one vote; and

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(2) on a poll, every shareholder entitled to vote on the matter has one vote in respect of each share entitled to be voted on the matter and held by that shareholder and may exercise that vote either in person or by proxy.

**12.2.** **Votes of Persons in Representative Capacity**

A person who is not a shareholder may vote at a meeting of shareholders, whether on a show of hands or on a poll, and may appoint a proxy holder to act at the meeting, if, before doing so, the person satisfies the chair of the meeting, or the directors, that the person is a legal personal representative or a trustee in bankruptcy for a shareholder who is entitled to vote at the meeting.

**12.3.** **Votes by Joint Holders**

If there are joint shareholders registered in respect of any share:

(1) any one of the joint shareholders may vote at any meeting of shareholders, personally or by proxy, in respect of the share as if that joint shareholder were solely entitled to it; or

(2) if more than one of the joint shareholders is present at any meeting of shareholders, personally or by proxy, and more than one of them votes in respect of that share, then only the vote of the joint shareholder present whose name stands first on the central securities register in respect of the share will be counted.

**12.4.** **Legal Personal Representatives as Joint Shareholders**

Two or more legal personal representatives of a shareholder in whose sole name any share is registered are, for the purposes of Article 12.3, deemed to be joint shareholders registered in respect of that share.

**12.5.** **Representative of a Corporate Shareholder**

If a corporation, that is not a subsidiary of the Company, is a shareholder, that corporation may appoint an individual person to act as its representative at any meeting of shareholders of the Company, and:

(1) for that purpose, the instrument appointing a representative must be received:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at the registered office of the Company or at any other place specified, in the notice calling the meeting, for the receipt of proxies, at least the number of business days specified in the notice for the receipt of proxies, or if no number of days is specified, two business days before the day set for the holding of the meeting or any adjourned meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) at the meeting or any adjourned meeting, by the chair of the meeting or adjourned meeting or by a person designated by the chair of the meeting or adjourned meeting;

(2) if a representative is appointed under this Article 12.5:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the representative is entitled to exercise in respect of and at that meeting the same rights on behalf of the corporation that the representative represents as that corporation could exercise if it were a shareholder who is an individual, including, without limitation, the right to appoint a proxy holder; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the representative, if present at the meeting, is to be counted for the purpose of forming a quorum and is deemed to be a shareholder present in person at the meeting.

Evidence of the appointment of any such representative may be sent to the Company by written instrument, fax or any other method of transmitting legibly recorded messages.

**12.6.** **Proxy Provisions Do Not Apply to All Companies**

If and for so long as the Company is a public company Articles 12.7 to 12.15 apply only insofar as they are not inconsistent with any securities legislation in any province or territory of Canada or in the federal jurisdiction of the United States or in any states of the United States that is applicable to the Company and insofar as they are not inconsistent with the regulations and rules made and promulgated under that legislation and all administrative policy statements, blanket orders and rulings, notices and other administrative directions issued by securities commissions or similar authorities appointed under that legislation.

**12.7.** **Appointment of Proxy Holders**

Every shareholder of the Company, including a corporation that is a shareholder but not a subsidiary of the Company, entitled to vote at a meeting of shareholders may, by proxy, appoint one or more (but not more than five) proxy holders to attend and act at the meeting in the manner, to the extent and with the powers conferred by the proxy.

**12.8.** **Alternate Proxy Holders**

A shareholder may appoint one or more alternate proxy holders to act in the place of an absent proxy holder.

**12.9.** **When Proxy Holder Need Not Be Shareholder**

A person must not be appointed as a proxy holder unless the person is a shareholder, although a person who is not a shareholder may be appointed as a proxy holder if:

(1) the person appointing the proxy holder is a corporation or a representative of a corporation appointed under Article 12.5;

(2) the Company has at the time of the meeting for which the proxy holder is to be appointed only one shareholder entitled to vote at the meeting; or

(3) the shareholders present in person or by proxy at and entitled to vote at the meeting for which the proxy holder is to be appointed, by a resolution on which the proxy holder is not entitled to vote but in respect of which the proxy holder is to be counted in the quorum, permit the proxy holder to attend and vote at the meeting.

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**12.10. Deposit of Proxy**

A proxy for a meeting of shareholders must:

(1) be received at the registered office of the Company or at any other place specified, in the notice calling the meeting, for the receipt of proxies, at least the number of business days specified in the notice, or if no number of days is specified, two business days before the day set for the holding of the meeting or any adjourned meeting; or

(2) unless the notice provides otherwise, be received, at the meeting or any adjourned meeting, by the chair of the meeting or adjourned meeting or by a person designated by the chair of the meeting or adjourned meeting.

A proxy may be sent to the Company by written instrument, fax or any other method of transmitting legibly recorded messages.

**12.11. Validity of Proxy Vote**

A vote given in accordance with the terms of a proxy is valid notwithstanding the death or incapacity of the shareholder giving the proxy and despite the revocation of the proxy or the revocation of the authority under which the proxy is given, unless notice in writing of that death, incapacity or revocation is received:

(1) at the registered office of the Company, at any time up to and including the last business day before the day set for the holding of the meeting or any adjourned meeting at which the proxy is to be used; or

(2) at the meeting or any adjourned meeting, by the chair of the meeting or adjourned meeting, before any vote in respect of which the proxy has been given has been taken.

**12.12. Form of Proxy**

A proxy, whether for a specified meeting or otherwise, must be either in the following form or in any other form approved by the directors or the chair of the meeting:

**[Company's Name]**

(the "Company")

The undersigned, being a shareholder of the Company, hereby appoints [name] or, failing that person, [name], as proxy holder for the undersigned to attend, act and vote for and on behalf of the undersigned at the meeting of shareholders of the Company to be held on [month, day, year] and at any adjournment of that meeting.

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Number of shares in respect of which this proxy is given (if no number is specified, then this proxy is given in respect of all shares registered in the name of the undersigned): _____________________

*Signed [month, day, year]*

__________________________________

*[Signature of shareholder]*

__________________________________

*[Name of shareholder-printed]*

**12.13. Revocation of Proxy**

Subject to Article 12.14, every proxy may be revoked by an instrument in writing that is received:

(1) at the registered office of the Company at any time up to and including the last business day before the day set for the holding of the meeting or any adjourned meeting at which the proxy is to be used; or

(2) at the meeting or any adjourned meeting, by the chair of the meeting or adjourned meeting, before any vote in respect of which the proxy has been given has been taken.

**12.14. Revocation of Proxy Must Be Signed**

An instrument referred to in Article 12.13 must be signed as follows:

(1) if the shareholder for whom the proxy holder is appointed is an individual, the instrument must be signed by the shareholder or his or her legal personal representative or trustee in bankruptcy;

(2) if the shareholder for whom the proxy holder is appointed is a corporation, the instrument must be signed by the corporation or by a representative appointed for the corporation under Article 12.5.

**12.15. Production of Evidence of Authority to Vote**

The chair of any meeting of shareholders may, but need not, inquire into the authority of any person to vote at the meeting and may, but need not, demand from that person production of evidence as to the existence of the authority to vote.

**13.** **DIRECTORS**

**13.1.** **First Directors; Number of Directors**

The first directors are the persons designated as directors of the Company in the Notice of Articles that applies to the Company when it is recognized under the Business Corporations Act. The number of directors, excluding additional directors appointed under Article 14.8, is set at:

(1) subject to paragraphs (2) and (3), the number of directors that is equal to the number of the

Company's first directors;

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(2) if the Company is a public company, the greater of three and the most recently set of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the number of directors set by ordinary resolution (whether or not previous notice of the resolution was given); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the number of directors set under Article 14.4;

(3) if the Company is not a public company, the most recently set of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the number of directors set by ordinary resolution (whether or not previous notice of the resolution was given); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the number of directors set under Article 14.4.

**13.2.** **Change in Number of Directors**

If the number of directors is set under Articles 13.1(2)(a) or 13.1(3)(a):

(1) the shareholders may elect or appoint the directors needed to fill any vacancies in the board of directors up to that number;

(2) if the shareholders do not elect or appoint the directors needed to fill any vacancies in the board of directors up to that number contemporaneously with the setting of that number, then the directors may, subject to Article 14.8, appoint, or the shareholders may elect or appoint, directors to fill those vacancies.

**13.3.** **Directors' Acts Valid Despite Vacancy**

An act or proceeding of the directors is not invalid merely because fewer than the number of directors set or otherwise required under these Articles is in office.

**13.4.** **Qualifications of Directors**

A director is not required to hold a share in the capital of the Company as qualification for his or her office but must be qualified as required by the Business Corporations Act to become, act or continue to act as a director.

**13.5.** **Remuneration of Directors**

The directors are entitled to the remuneration for acting as directors, if any, as the directors may from time to time determine. If the directors so decide, the remuneration of the directors, if any, will be determined by the shareholders. That remuneration may be in addition to any salary or other remuneration paid to any officer or employee of the Company as such, who is also a director.

**13.6.** **Reimbursement of Expenses of Directors**

The Company must reimburse each director for the reasonable expenses that he or she may incur in and about the business of the Company.

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**13.7.** **Special Remuneration for Directors**

If any director performs any professional or other services for the Company that in the opinion of the directors are outside the ordinary duties of a director, or if any director is otherwise specially occupied in or about the Company's business, he or she may be paid remuneration fixed by the directors, or, at the option of that director, fixed by ordinary resolution, and such remuneration may be either in addition to, or in substitution for, any other remuneration that he or she may be entitled to receive.

**13.8.** **Gratuity, Pension or Allowance on Retirement of Director**

Unless otherwise determined by ordinary resolution, the directors on behalf of the Company may pay a gratuity or pension or allowance on retirement to any director who has held any salaried office or place of profit with the Company or to his or her spouse or dependants and may make contributions to any fund and pay premiums for the purchase or provision of any such gratuity, pension or allowance.

**14.** **ELECTION AND REMOVAL OF DIRECTORS**

**14.1.** **Election at Annual General Meeting**

At every annual general meeting and in every unanimous resolution contemplated by Article 10.2:

(1) the shareholders entitled to vote at the annual general meeting for the election of directors must elect, or in the unanimous resolution appoint, a board of directors consisting of the number of directors for the time being set under these Articles; and

(2) all the directors cease to hold office immediately before the election or appointment of directors under paragraph (1), but are eligible for re-election or re-appointment.

**14.2.** **Consent to be a Director**

No election, appointment or designation of an individual as a director is valid unless:

(1) that individual consents to be a director in the manner provided for in the Business Corporations Act;

(2) that individual is elected or appointed at a meeting at which the individual is present and the individual does not refuse, at the meeting, to be a director; or

(3) with respect to first directors, the designation is otherwise valid under the Business Corporations Act.

**14.3.** **Failure to Elect or Appoint Directors**

If:

(1) the Company fails to hold an annual general meeting, and all the shareholders who are entitled to vote at an annual general meeting fail to pass the unanimous resolution contemplated by Article 10.2, on or before the date by which the annual general meeting is required to be held under the Business Corporations Act; or

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(2) the shareholders fail, at the annual general meeting or in the unanimous resolution contemplated by Article 10.2, to elect or appoint any directors;

then each director then in office continues to hold office until the earlier of:

(3) when his or her successor is elected or appointed; and

(4) when he or she otherwise ceases to hold office under the Business Corporations Act or these Articles.

**14.4.** **Places of Retiring Directors Not Filled**

If, at any meeting of shareholders at which there should be an election of directors, the places of any of the retiring directors are not filled by that election, those retiring directors who are not re- elected and who are asked by the newly elected directors to continue in office will, if willing to do so, continue in office to complete the number of directors for the time being set pursuant to these Articles until further new directors are elected at a meeting of shareholders convened for that purpose. If any such election or continuance of directors does not result in the election or continuance of the number of directors for the time being set pursuant to these Articles, the number of directors of the Company is deemed to be set at the number of directors actually elected or continued in office.

**14.5.** **Directors May Fill Casual Vacancies**

Any casual vacancy occurring in the board of directors may be filled by the directors.

**14.6.** **Remaining Directors' Power to Act**

The directors may act notwithstanding any vacancy in the board of directors, but if the Company has fewer directors in office than the number set pursuant to these Articles as the quorum of directors, the directors may only act for the purpose of appointing directors up to that number or of calling a meeting of shareholders for the purpose of filling any vacancies on the board of directors or, subject to the Business Corporations Act, for any other purpose.

**14.7.** **Shareholders May Fill Vacancies**

If the Company has no directors or fewer directors in office than the number set pursuant to these Articles as the quorum of directors, the shareholders may elect or appoint directors to fill any vacancies on the board of directors.

**14.8.** **Additional Directors**

Notwithstanding Articles 13.1 and 13.2, between annual general meetings or unanimous resolutions contemplated by Article 10.2, the directors may appoint one or more additional directors, but the number of additional directors appointed under this Article 14.8 must not at any time exceed:

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(1) one-third of the number of first directors, if, at the time of the appointments, one or more of the first directors have not yet completed their first term of office; or

(2) in any other case, one-third of the number of the current directors who were elected or appointed as directors other than under this Article 14.8.

Any director so appointed ceases to hold office immediately before the next election or appointment of directors under Article 14.1(1), but is eligible for re-election or re-appointment.

**14.9.** **Ceasing to be a Director**

A director ceases to be a director when:

(1) the term of office of the director expires;

(2) the director dies;

(3) the director resigns as a director by notice in writing provided to the Company or a lawyer for the Company; or

(4) the director is removed from office pursuant to Articles 14.10 or 14.11.

**14.10. Removal of Director by Shareholders**

The Company may remove any director before the expiration of his or her term of office by special resolution. In that event, the shareholders may elect, or appoint by ordinary resolution, a director to fill the resulting vacancy. If the shareholders do not elect or appoint a director to fill the resulting vacancy contemporaneously with the removal, then the directors may appoint or the shareholders may elect, or appoint by ordinary resolution, a director to fill that vacancy.

**14.11. Removal of Director by Directors**

The directors may remove any director before the expiration of his or her term of office if the director is convicted of an indictable offence, or if the director ceases to be qualified to act as a director of a company and does not promptly resign, and the directors may appoint a director to fill the resulting vacancy.

**15.** **POWERS AND DUTIES OF DIRECTORS**

**15.1.** **Powers of Management**

The directors must, subject to the Business Corporations Act and these Articles, manage or supervise the management of the business and affairs of the Company and have the authority to exercise all such powers of the Company as are not, by the Business Corporations Act or by these Articles, required to be exercised by the shareholders of the Company.

**15.2.** **Appointment of Attorney of Company**

The directors may from time to time, by power of attorney or other instrument, under seal if so required by law, appoint any person to be the attorney of the Company for such purposes, and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the directors under these Articles and excepting the power to fill vacancies in the board of directors, to remove a director, to change the membership of, or fill vacancies in, any committee of the directors, to appoint or remove officers appointed by the directors and to declare dividends) and for such period, and with such remuneration and subject to such conditions as the directors may think fit. Any such power of attorney may contain such provisions for the protection or convenience of persons dealing with such attorney as the directors think fit. Any such attorney may be authorized by the directors to sub-delegate all or any of the powers, authorities and discretions for the time being vested in him or her.

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**16.** **INTERESTS OF DIRECTORS AND OFFICERS**

**16.1.** **Obligation to Account for Profits**

A director or senior officer who holds a disclosable interest (as that term is used in the Business Corporations Act) in a contract or transaction into which the Company has entered or proposes to enter is liable to account to the Company for any profit that accrues to the director or senior officer under or as a result of the contract or transaction only if and to the extent provided in the Business Corporations Act.

**16.2.** **Restrictions on Voting by Reason of Interest**

A director who holds a disclosable interest in a contract or transaction into which the Company has entered or proposes to enter is not entitled to vote on any directors' resolution to approve that contract or transaction, unless all the directors have a disclosable interest in that contract or transaction, in which case any or all of those directors may vote on such resolution.

**16.3.** **Interested Director Counted in Quorum**

A director who holds a disclosable interest in a contract or transaction into which the Company has entered or proposes to enter and who is present at the meeting of directors at which the contract or transaction is considered for approval may be counted in the quorum at the meeting whether or not the director votes on any or all of the resolutions considered at the meeting.

**16.4.** **Disclosure of Conflict of Interest or Property**

A director or senior officer who holds any office or possesses any property, right or interest that could result, directly or indirectly, in the creation of a duty or interest that materially conflicts with that individual's duty or interest as a director or senior officer, must disclose the nature and extent of the conflict as required by the Business Corporations Act.

**16.5.** **Director Holding Other Office in the Company**

A director may hold any office or place of profit with the Company, other than the office of auditor of the Company, in addition to his or her office of director for the period and on the terms (as to remuneration or otherwise) that the directors may determine.

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**16.6.** **No Disqualification**

No director or intended director is disqualified by his or her office from contracting with the Company either with regard to the holding of any office or place of profit the director holds with the Company or as vendor, purchaser or otherwise, and no contract or transaction entered into by or on behalf of the Company in which a director is in any way interested is liable to be voided for that reason.

**16.7.** **Professional Services by Director or Officer**

Subject to the Business Corporations Act, a director or officer, or any person in which a director or officer has an interest, may act in a professional capacity for the Company, except as auditor of the Company, and the director or officer or such person is entitled to remuneration for professional services as if that director or officer were not a director or officer.

**16.8.** **Director or Officer in Other Corporations**

A director or officer may be or become a director, officer or employee of, or otherwise interested in, any person in which the Company may be interested as a shareholder or otherwise, and, subject to the Business Corporations Act, the director or officer is not accountable to the Company for any remuneration or other benefits received by him or her as director, officer or employee of, or from his or her interest in, such other person.

**17.** **PROCEEDINGS OF DIRECTORS**

**17.1.** **Meetings of Directors**

The directors may meet together for the conduct of business, adjourn and otherwise regulate their meetings as they think fit, and meetings of the directors held at regular intervals may be held at the place, at the time and on the notice, if any, as the directors may from time to time determine.

**17.2.** **Voting at Meetings**

Questions arising at any meeting of directors are to be decided by a majority of votes and, in the case of an equality of votes, the chair of the meeting does not have a second or casting vote.

**17.3.** **Chair of Meetings**

The following individual is entitled to preside as chair at a meeting of directors:

(1) the chair of the board, if any;

(2) in the absence of the chair of the board, the president, if any, if the president is a director; or

(3) any other director chosen by the directors if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) neither the chair of the board nor the president, if a director, is present at the meeting within 15 minutes after the time set for holding the meeting;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) neither the chair of the board nor the president, if a director, is willing to chair the meeting; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the chair of the board and the president, if a director, have advised the secretary, if any, or any other director, that they will not be present at the meeting.

**17.4.** **Meetings by Telephone or Other Communications Medium**

A director may participate in a meeting of the directors or of any committee of the directors:

(1) in person;

(2) by telephone; or

(3) with the consent of all directors who wish to participate in the meeting, by other communications medium;

if all the directors participating in the meeting, whether in person, by telephone or by other communications medium, are able to communicate with each other. A director who participates in a meeting in a manner contemplated by this Article 17.4 is deemed for all purposes of the Business Corporations Act and these Articles to be present at the meeting and to have agreed to participate in that manner.

**17.5.** **Calling of Meetings**

A director may, and the secretary or an assistant secretary of the Company, if any, on the request of a director must, call a meeting of the directors at any time.

**17.6.** **Notice of Meetings**

Other than for meetings held at regular intervals as determined by the directors pursuant to Article 17.1, reasonable notice of each meeting of the directors, specifying the place, day and time of that meeting must be given to each of the directors by any method set out in Article 23.1 or orally or by telephone.

**17.7.** **When Notice Not Required**

It is not necessary to give notice of a meeting of the directors to a director if:

(1) the meeting is to be held immediately following a meeting of shareholders at which that director was elected or appointed, or is the meeting of the directors at which that director is appointed; or

(2) the director has waived notice of the meeting.

**17.8.** **Meeting Valid Despite Failure to Give Notice**

The accidental omission to give notice of any meeting of directors to, or the non-receipt of any notice by, any director, does not invalidate any proceedings at that meeting.

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**17.9.** **Waiver of Notice of Meetings**

Any director may send to the Company a document signed by him or her waiving notice of any past, present or future meeting or meetings of the directors and may at any time withdraw that waiver with respect to meetings held after that withdrawal. After sending a waiver with respect to all future meetings and until that waiver is withdrawn, no notice of any meeting of the directors need be given to that director and, unless the director otherwise requires by notice in writing to the Company and all meetings of the directors so held are deemed not to be improperly called or constituted by reason of notice not having been given to such director.

Attendance of a director at a meeting of the directors is a waiver of notice of the meeting, unless that director attends the meeting for the express purpose of objecting to the transaction of any business on the grounds that the meeting is not lawfully called.

**17.10. Quorum**

The quorum necessary for the transaction of the business of the directors may be set by the directors and, if not so set, is deemed to be set at two directors or, if the number of directors is set at one, is deemed to be set at one director, and that director may constitute a meeting.

**17.11. Validity of Acts Where Appointment Defective**

Subject to the Business Corporations Act, an act of a director or officer is not invalid merely because of an irregularity in the election or appointment or a defect in the qualification of that director or officer.

**17.12. Consent Resolutions in Writing**

A resolution of the directors or of any committee of the directors may be passed without a meeting:

(1) in all cases, if each of the directors entitled to vote on the resolution consents to it in writing; or

(2) in the case of a resolution to approve a contract or transaction in respect of which a director has disclosed that he or she has or may have a disclosable interest, if each of the other directors who have not made such a disclosure consents in writing to the resolution.

A consent in writing under this Article may be by signed document, fax, e-mail or any other method of transmitting legibly recorded messages. A consent in writing may be in two or more counterparts which together are deemed to constitute one consent in writing. A resolution of the directors or of any committee of the directors passed in accordance with this Article 17.12 is effective on the date stated in the consent in writing or on the latest date stated on any counterpart and is deemed to be a proceeding at a meeting of directors or of the committee of the directors and to be as valid and effective as if it had been passed at a meeting of the directors or of the committee of the directors that satisfies all the requirements of the Business Corporations Act and all the requirements of these Articles relating to meetings of the directors or of a committee of the directors.

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**18.** **EXECUTIVE AND OTHER COMMITTEES**

**18.1.** **Appointment and Powers of Executive Committee**

The directors may, by resolution, appoint an executive committee consisting of the director or directors that they consider appropriate, and this committee has, during the intervals between meetings of the board of directors, all of the directors' powers, except:

(1) the power to fill vacancies in the board of directors;

(2) the power to remove a director;

(3) the power to change the membership of, or fill vacancies in, any committee of the directors; and

(4) such other powers, if any, as may be set out in the resolution or any subsequent directors' resolution.

**18.2.** **Appointment and Powers of Other Committees**

The directors may, by resolution:

(1) appoint one or more committees (other than the executive committee) consisting of the director or directors that they consider appropriate;

(2) delegate to a committee appointed under paragraph (1) any of the directors' powers, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the power to fill vacancies in the board of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the power to remove a director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the power to change the membership of, or fill vacancies in, any committee of the directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the power to appoint or remove officers appointed by the directors; and

(3) make any delegation referred to in paragraph (2) subject to the conditions set out in the resolution or any subsequent directors' resolution.

**18.3.** **Obligations of Committees**

Any committee appointed under Articles 18.1 or 18.2, in the exercise of the powers delegated to it, must:

(1) conform to any rules that may from time to time be imposed on it by the directors; and

(2) report every act or thing done in exercise of those powers at such times as the directors may require.

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**18.4.** **Powers of Board**

The directors may, at any time, with respect to a committee appointed under Articles 18.1 or 18.2:

(1) revoke or alter the authority given to the committee, or override a decision made by the committee, except as to acts done before such revocation, alteration or overriding;

(2) terminate the appointment of, or change the membership of, the committee; and

(3) fill vacancies in the committee.

**18.5.** **Committee Meetings**

Subject to Article 18.3(1) and unless the directors otherwise provide in the resolution appointing the committee or in any subsequent resolution, with respect to a committee appointed under Articles 18.1 or 18.2:

(1) the committee may meet and adjourn as it thinks proper;

(2) the committee may elect a chair of its meetings but, if no chair of a meeting is elected, or if at a meeting the chair of the meeting is not present within 15 minutes after the time set for holding the meeting, the directors present who are members of the committee may choose one of their number to chair the meeting;

(3) a majority of the members of the committee constitutes a quorum of the committee; and

(4) questions arising at any meeting of the committee are determined by a majority of votes of the members present, and in case of an equality of votes, the chair of the meeting does not have a second or casting vote.

**19.** **OFFICERS**

**19.1.** **Directors May Appoint Officers**

The directors may, from time to time, appoint such officers, if any, as the directors determine and the directors may, at any time, terminate any such appointment.

**19.2.** **Functions, Duties and Powers of Officers**

The directors may, for each officer:

(1) determine the functions and duties of the officer;

(2) entrust to and confer on the officer any of the powers exercisable by the directors on such terms and conditions and with such restrictions as the directors think fit; and

(3) revoke, withdraw, alter or vary all or any of the functions, duties and powers of the officer.

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**19.3.** **Qualifications**

No officer may be appointed unless that officer is qualified in accordance with the Business Corporations Act. One person may hold more than one position as an officer of the Company. Any person appointed as the chair of the board or as a managing director must be a director. Any other officer need not be a director.

**19.4.** **Remuneration and Terms of Appointment**

All appointments of officers are to be made on the terms and conditions and at the remuneration (whether by way of salary, fee, commission, participation in profits or otherwise) that the directors think fit and are subject to termination at the pleasure of the directors, and an officer may in addition to such remuneration be entitled to receive, after he or she ceases to hold such office or leaves the employment of the Company, a pension or gratuity.

**20.** **INDEMNIFICATION**

**20.1.** **Definitions**

In this Article 20:

(1) "eligible penalty" means a judgment, penalty or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding;

(2) "eligible proceeding" means a legal proceeding or investigative action, whether current, threatened, pending or completed, in which a director, former director of the Company (an

"eligible party") or any of the heirs and legal personal representatives of the eligible party, by reason of the eligible party being or having been a director of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is or may be joined as a party; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding;

(3) "expenses" has the meaning set out in the Business Corporations Act.

**20.2.** **Mandatory Indemnification of Eligible Parties**

Subject to the Business Corporations Act, the Company must indemnify a director or former director of the Company and his or her heirs and legal personal representatives against all eligible penalties to which such person is or may be liable, and the Company must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by such person in respect of that proceeding. Each director is deemed to have contracted with the Company on the terms of the indemnity contained in this Article 20.2.

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**20.3.** **Indemnification of Other Persons**

Subject to any restrictions in the Business Corporations Act, the Company may indemnify any person.

**20.4.** **Non-Compliance** **with Business Corporations Act**

The failure of a director or officer of the Company to comply with the Business Corporations Act or these Articles or, if applicable, any former Companies Act or former Articles, does not invalidate any indemnity to which he or she is entitled under this Part.

**20.5.** **Company May Purchase Insurance**

The Company may purchase and maintain insurance for the benefit of any person (or his or her heirs or legal personal representatives) who:

(1) is or was a director, officer, employee or agent of the Company;

(2) is or was a director, officer, employee or agent of a corporation at a time when the corporation is or was an affiliate of the Company;

(3) at the request of the Company, is or was a director, officer, employee or agent of a corporation or of a partnership, trust, joint venture or other unincorporated entity;

(4) at the request of the Company, holds or held a position equivalent to that of a director or officer of a partnership, trust, joint venture or other unincorporated entity;

against any liability incurred by him or her as such director, officer, employee or agent or person who holds or held such equivalent position.

**21.** **DIVIDENDS**

**21.1.** **Payment of Dividends Subject to Special Rights**

The provisions of this Article 21 are subject to the rights, if any, of shareholders holding shares with special rights as to dividends.

**21.2.** **Declaration of Dividends**

Subject to the Business Corporations Act, the directors may from time to time declare and authorize payment of such dividends as they may deem advisable.

**21.3.** **No Notice Required**

The directors need not give notice to any shareholder of any declaration under Article 21.2.

**21.4.** **Record Date**

The directors may set a date as the record date for the purpose of determining shareholders entitled to receive payment of a dividend. The record date must not precede the date on which the dividend is to be paid by more than two months. If no record date is set, the record date is 5 p.m. on the date on which the directors pass the resolution declaring the dividend.

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**21.5.** **Manner of Paying Dividend**

A resolution declaring a dividend may direct payment of the dividend wholly or partly in money or by the distribution of specific assets or of fully paid shares or of bonds, debentures or other securities of the Company or any other corporation, or in any one or more of those ways.

**21.6.** **Settlement of Difficulties**

If any difficulty arises in regard to a distribution under Article 21.5, the directors may settle the difficulty as they deem advisable, and, in particular, may:

(1) set the value for distribution of specific assets;

(2) determine that money in substitution for all or any part of the specific assets to which any shareholders are entitled may be paid to any shareholders on the basis of the value so fixed in order to adjust the rights of all parties; and

(3) vest any such specific assets in trustees for the persons entitled to the dividend.

**21.7.** **When Dividend Payable**

Any dividend may be made payable on such date as is fixed by the directors.

**21.8.** **Dividends to be Paid in Accordance with Number of Shares**

All dividends on shares of any class or series of shares must be declared and paid according to the number of such shares held.

**21.9.** **Receipt by Joint Shareholders**

If several persons are joint shareholders of any share, any one of them may give an effective receipt for any dividend, bonus or other money payable in respect of the share.

**21.10. Dividend Bears No Interest**

No dividend bears interest against the Company.

**21.11. Fractional Dividends**

If a dividend to which a shareholder is entitled includes a fraction of the smallest monetary unit of the currency of the dividend, that fraction may be disregarded in making payment of the dividend and that payment represents full payment of the dividend.

**21.12. Payment of Dividends**

Any dividend or other distribution payable in money in respect of shares may be paid by cheque, made payable to the order of the person to whom it is sent, and mailed to the registered address of the shareholder, or in the case of joint shareholders, to the registered address of the joint shareholder who is first named on the central securities register, or to the person and to the address the shareholder or joint shareholders may direct in writing. The mailing of such cheque will, to the extent of the sum represented by the cheque (plus the amount of the tax required by law to be deducted), discharge all liability for the dividend unless such cheque is not paid on presentation or the amount of tax so deducted is not paid to the appropriate taxing authority.

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**21.13. Capitalization of Retained Earnings or Surplus**

Notwithstanding anything contained in these Articles, the directors may from time to time capitalize any retained earnings or surplus of the Company and may from time to time issue, as fully paid, shares or any bonds, debentures or other securities of the Company as a dividend representing the retained earnings or surplus so capitalized or any part thereof.

**22.** **ACCOUNTING RECORDS**

**22.1.** **Recording of Financial Affairs**

The directors must cause adequate accounting records to be kept to record properly the financial affairs and condition of the Company and to comply with the Business Corporations Act.

**22.2.** **Inspection of Accounting Records**

Unless the directors determine otherwise, or unless otherwise determined by ordinary resolution, no shareholder of the Company is entitled to inspect or obtain a copy of any accounting records of the Company.

**23.** **NOTICES**

**23.1.** **Method of Giving Notice**

Unless the Business Corporations Act or these Articles provides otherwise, a notice, statement, report or other record required or permitted by the Business Corporations Act or these Articles to be sent by or to a person may be sent by any one of the following methods:

(1) mail addressed to the person at the applicable address for that person as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for a record mailed to a shareholder, the shareholder's registered address;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for a record mailed to a director or officer, the prescribed address for mailing shown for the director or officer in the records kept by the Company or the mailing address provided by the recipient for the sending of that record or records of that class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in any other case, the mailing address of the intended recipient;

(2) delivery at the applicable address for that person as follows, addressed to the person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for a record delivered to a shareholder, the shareholder's registered address;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for a record delivered to a director or officer, the prescribed address for delivery shown for the director or officer in the records kept by the Company or the delivery address provided by the recipient for the sending of that record or records of that class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in any other case, the delivery address of the intended recipient;

(3) sending the record by fax to the fax number provided by the intended recipient for the sending of that record or records of that class;

(4) sending the record by e-mail to the e-mail address provided by the intended recipient for the sending of that record or records of that class;

(5) physical delivery to the intended recipient.

**23.2.** **Deemed Receipt**

A notice, statement, report or other record that is:

(1) mailed to a person by ordinary mail to the applicable address for that person referred to in Article 23.1 is deemed to be received by the person to whom it was mailed on the day, Saturdays, Sundays and holidays excepted, following the date of mailing;

(2) faxed to a person to the fax number provided by that person referred to in Article 23.1 is deemed to be received by the person to whom it was faxed on the day it was faxed; and

(3) e-mailed to a person to the e-mail address provided by that person referred to in Article 23.1 is deemed to be received by the person to whom it was e-mailed on the day it was e- mailed.

**23.3.** **Certificate of Sending**

A certificate signed by the secretary, if any, or other officer of the Company or of any other corporation acting in that capacity on behalf of the Company stating that a notice, statement, report or other record was sent in accordance with Article 23.1 is conclusive evidence of that fact.

**23.4.** **Notice to Joint Shareholders**

A notice, statement, report or other record may be provided by the Company to the joint shareholders of a share by providing such record to the joint shareholder first named in the central securities register in respect of the share.

**23.5.** **Notice to Legal Personal Representatives and Trustees**

A notice, statement, report or other record may be provided by the Company to the persons entitled to a share in consequence of the death, bankruptcy or incapacity of a shareholder by:

(1) mailing the record, addressed to them:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by name, by the title of the legal personal representative of the deceased or incapacitated shareholder, by the title of trustee of the bankrupt shareholder or by any similar description; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) at the address, if any, supplied to the Company for that purpose by the persons claiming to be so entitled; or

(2) if an address referred to in paragraph (1)(b) has not been supplied to the Company, by giving the notice in a manner in which it might have been given if the death, bankruptcy or incapacity had not occurred.

**23.6.** **Undelivered Notices**

If, on two consecutive occasions, a notice, statement, report or other record is sent to a shareholder pursuant to Article 23.1 and on each of those occasions any such record is returned because the shareholder cannot be located, the Company shall not be required to send any further records to the shareholder until the shareholder informs the Company in writing of his or her new address.

**24.** **SEAL AND EXECUTION OF INSTRUMENTS**

**24.1.** **Who May Attest Seal**

Except as provided in Articles 24.2 and 24.3, the Company's seal, if any, must not be impressed on any record except when that impression is attested by the signatures of:

(1) any two directors;

(2) any officer, together with any director;

(3) if the Company only has one director, that director; or

(4) any one or more directors or officers or persons as may be determined by the directors.

**24.2.** **Sealing Copies**

For the purpose of certifying under seal a certificate of incumbency of the directors or officers of the Company or a true copy of any resolution or other document, despite Article 24.1, the impression of the seal may be attested by the signature of any director or officer, or the signature of any other person as may be determined by the directors.

**24.3.** **Mechanical Reproduction of Seal**

The directors may authorize the seal to be impressed by third parties on share certificates or bonds, debentures or other securities of the Company as they may determine appropriate from time to time. To enable the seal to be impressed on any share certificates or bonds, debentures or other securities of the Company, whether in definitive or interim form, on which facsimiles of any of the signatures of the directors or officers of the Company are, in accordance with the Business Corporations Act or these Articles, printed or otherwise mechanically reproduced, there may be delivered to the person employed to engrave, lithograph or print such definitive or interim share certificates or bonds, debentures or other securities one or more unmounted dies reproducing the seal and such persons as are authorized under Article 24.1 to attest the Company's seal may in writing authorize such person to cause the seal to be impressed on such definitive or interim share certificates or bonds, debentures or other securities by the use of such dies. Share certificates or bonds, debentures or other securities to which the seal has been so impressed are for all purposes deemed to be under and to bear the seal impressed on them.

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**24.4.** **Execution of Instruments**

Deeds, transfers, assignments, contracts, obligations, certificates and other instruments shall be signed on behalf of the Company by any director or officer. In addition, the board may from time to time direct the manner in which and the person or persons by whom any particular instrument or class of instruments may or shall be signed.

**25.** **PROHIBITIONS**

**25.1.** **Application**

Article 25.2 does not apply to the Company if and for so long as it is a public company.

**25.2.** **Consent Required for Transfer of Shares or Designated Securities**

No securities of the Company other than non-convertible debt securities of the Company shall be transferred without the consent of the directors expressed by resolution and the directors shall not be required to give any reason for refusing to consent to any such transfer.

**26.** **RIGHTS AND RESTRICTIONS ATTACHING TO THE VOTING COMMON SHARES**

**26.1.** **Voting Common Share Rights.**

The Voting Common shares (the "**Voting Common Shares**") shall have attached to them the following special rights and restrictions:

**(1)** **Voting Rights**

Each holder of the Voting Common Shares is entitled to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) one vote for each Voting Common Share held at all meetings of shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) receive notice of and to attend all meetings of shareholders of the Company, except meetings at which only the holders of a specified class of shares (other than the Voting Common Shares) are entitled to attend; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) vote on all matters submitted to a vote or consent of shareholders of the Company, except matters upon which only the holders of a specified class of shares (other than the Voting Common Shares) are entitled to vote.

------

**(2)** **Dividends**

The Voting Common Shares and the Non-Voting Common Shares shall participate equally with respect to dividends and for greater certainty, all dividends which the directors may declare in any fiscal year of the Company on the Voting Common Shares and the Non-Voting Common Shares shall be declared and paid in equal or equivalent amounts per share on the Voting Common Shares and the Non-Voting Common Shares at the time outstanding without preference or priority.

**(3)** **Liquidation, Dissolution or** **Winding-up**

In the event of any liquidation, dissolution or winding-up of the Company or other distribution of assets of the Company among its shareholders for the purpose of winding up its affairs, subject to the rights, privileges, restrictions and conditions attaching to any other class of shares of the Company, all of the property and assets of the Company available for distribution to the holders of the Voting Common Shares and the Non-Voting Common Shares shall be paid or distributed equally, share for share, to the holders of the Voting Common Shares and the Non-Voting Common Shares, respectively, without preference or distinction.

**27.** **RIGHTS AND RESTRICTIONS ATTACHING TO THE** **NON-VOTING COMMON SHARES**

**27.1.** **Non-Voting** **Common Share Rights.**

The Non-Voting Common shares (the "**Non-Voting** **Common Shares**") shall have attached to them the following special rights and restrictions:

**(1)** **Voting Rights**

Except as otherwise provided in the Business Corporations Act, the holders of Non-Voting Common Shares shall not be entitled to receive notice of, or to attend or to vote at, any meeting of the shareholders of the Company.

**(2)** **Dividends**

The Non-Voting Common Shares and the Voting Common Shares shall participate equally with respect to dividends and for greater certainty, all dividends which the directors may declare in any fiscal year of the Company on the Non-Voting Common Shares and the Voting Common Shares shall be declared and paid in equal or equivalent amounts per share on the Non-Voting Common Shares and the Voting Common Shares at the time outstanding without preference or priority.

**(3)** **Liquidation, Dissolution or** **Winding-up**

In the event of any liquidation, dissolution or winding-up of the Company or other distribution of assets of the Company among its shareholders for the purpose of winding up its affairs, subject to the rights, privileges, restrictions and conditions attaching to any other class of shares of the Company, all of the property and assets of the Company available for distribution to the holders of the Non-Voting Common Shares and the Voting Common Shares shall be paid or distributed equally, share for share, to the holders of the Non-Voting Common Shares and the Voting Common Shares, respectively, without preference or distinction.

------

37 <br>

---

| | |
|:---|:---|
| **Signature and full name of the Incorporator** | **Date of signing** |
| ![](exhibit2-3xm001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;August 4, 2020 |
| Mark Godsy |  |

---

------

---

| | |
|:---|:---|
| ***Incorporation number:*** | BC1260079 |

---

**ARTICLES<br>of**

**NAQI LOGICS INC.<br>(the "Company")**

**<u>**TABLE OF CONTENTS**</u>** <br>

---

| | | |
|:---|:---|:---|
| [1.](#page_1) | [INTERPRETATION](#page_1) | [1](#page_1) |
|  | [1.1. Definitions](#page_1) | [1](#page_1) |
|  | [1.2. Business Corporations Act and Interpretation Act Definitions Applicable](#page_1) | [1](#page_1) |
| [2.](#page_2) | [SHARES AND SHARE CERTIFICATES](#page_2) | [2](#page_2) |
|  | [2.1. Authorized Share Structure](#page_2) | [2](#page_2) |
|  | [2.2. Form of Share Certificate](#page_2) | [2](#page_2) |
|  | [2.3. Shareholder Entitled to Certificate or Acknowledgement](#page_2) | [2](#page_2) |
|  | [2.4. Delivery by Mail .](#page_2) | [2](#page_2) |
|  | [2.5. Replacement of Worn Out or Defaced Certificate or Acknowledgement](#page_2) | [2](#page_2) |
|  | [2.6. Replacement of Lost, Stolen or Destroyed Certificate or Acknowledgement](#page_2) | [2](#page_2) |
|  | [2.7. Splitting Share Certificates](#page_3) | [3](#page_3) |
|  | [2.8. Certificate Fee](#page_3) | [3](#page_3) |
|  | [2.9. Recognition of Trusts](#page_3) | [3](#page_3) |
| [3.](#page_3) | [ISSUE OF SHARES](#page_3) | [3](#page_3) |
|  | [3.1. Directors Authorized](#page_3) | [3](#page_3) |
|  | [3.2. Commissions and Discounts](#page_3) | [3](#page_3) |
|  | [3.3. Brokerage](#page_3) | [3](#page_3) |
|  | [3.4. Conditions of Issue](#page_4) | [4](#page_4) |
|  | [3.5. Share Purchase Warrants and Rights](#page_4) | [4](#page_4) |
| [4.](#page_4) | [SHARE REGISTERS](#page_4) | [4](#page_4) |
|  | [4.1. Central Securities Register](#page_4) | [4](#page_4) |
|  | [4.2. Closing Register](#page_4) | [4](#page_4) |
| [5.](#page_4) | [SHARE TRANSFERS](#page_4) | [4](#page_4) |
|  | [5.1. Registering Transfers](#page_4) | [4](#page_4) |
|  | [5.2. Form of Instrument of Transfer](#page_5) | [5](#page_5) |
|  | [5.3. Transferor Remains Shareholder](#page_5) | [5](#page_5) |
|  | [5.4. Signing of Instrument of Transfer](#page_5) | [5](#page_5) |
|  | [5.5. Enquiry as to Title Not Required](#page_5) | [5](#page_5) |
|  | [5.6. Transfer Fee](#page_6) | [6](#page_6) |
| [6.](#page_6) | [TRANSMISSION OF SHARES .](#page_6) | [6](#page_6) |
|  | [6.1. Legal Personal Representative Recognized on Death](#page_6) | [6](#page_6) |
|  | [6.2. Rights of Legal Personal Representative](#page_6) | [6](#page_6) |

---

------

ii <br>

---

| | | |
|:---|:---|:---|
| [7.](#page_6) | [PURCHASE OF SHARES](#page_6) | [6](#page_6) |
|  | [7.1. Company Authorized to Purchase Shares](#page_6) | [6](#page_6) |
|  | [7.2. Purchase When Insolvent](#page_6) | [6](#page_6) |
|  | [7.3. Sale and Voting of Purchased Shares](#page_6) | [6](#page_6) |
| [8.](#page_7) | [BORROWING POWERS](#page_7) | [7](#page_7) |
| [9.](#page_7) | [ALTERATIONS](#page_7) | [7](#page_7) |
|  | [9.1. Alteration of Authorized Share Structure](#page_7) | [7](#page_7) |
|  | [9.2. Special Rights and Restrictions](#page_8) | [8](#page_8) |
|  | [9.3. Change of Name](#page_8) | [8](#page_8) |
|  | [9.4. Other Alterations](#page_8) | [8](#page_8) |
| [10.](#page_8) | [MEETINGS OF SHAREHOLDERS](#page_8) | [8](#page_8) |
|  | [10.1.Annual General Meetings](#page_8) | [8](#page_8) |
|  | [10.2.Resolution Instead of Annual General Meeting](#page_8) | [8](#page_8) |
|  | [10.3.Calling and Location of Meetings of Shareholders](#page_9) | [9](#page_9) |
|  | [10.4.Notice for Meetings of Shareholders](#page_9) | [9](#page_9) |
|  | [10.5.Record Date for Notice](#page_9) | [9](#page_9) |
|  | [10.6.Record Date for Voting](#page_9) | [9](#page_9) |
|  | [10.7.Failure to Give Notice and Waiver of Notice](#page_9) | [9](#page_9) |
|  | [10.8.Notice of Special Business at Meetings of Shareholders](#page_10) | [10](#page_10) |
|  | [10.9.Notice of Dissent Rights](#page_10) | [10](#page_10) |
| [11.](#page_10) | [PROCEEDINGS AT MEETINGS OF SHAREHOLDERS](#page_10) | [10](#page_10) |
|  | [11.1.Special Business](#page_10) | [10](#page_10) |
|  | [11.2.Special Majority](#page_11) | [11](#page_11) |
|  | [11.3.Quorum](#page_11) | [11](#page_11) |
|  | [11.4.One Shareholder May Constitute Quorum](#page_11) | [11](#page_11) |
|  | [11.5.Persons Entitled to Attend Meeting](#page_11) | [11](#page_11) |
|  | [11.6.Requirement of Quorum](#page_12) | [12](#page_12) |
|  | [11.7.Lack of Quorum](#page_12) | [12](#page_12) |
|  | [11.8.Lack of Quorum at Succeeding Meeting](#page_12) | [12](#page_12) |
|  | [11.9.Chair](#page_12) | [12](#page_12) |
|  | [11.10. Selection of Alternate Chair](#page_12) | [12](#page_12) |
|  | [11.11. Adjournments](#page_12) | [12](#page_12) |
|  | [11.12. Notice of Adjourned Meeting](#page_13) | [13](#page_13) |
|  | [11.13. Decisions by Show of Hands or Poll](#page_13) | [13](#page_13) |
|  | [11.14. Declaration of Result.](#page_13) | [13](#page_13) |
|  | [11.15. Motion Need Not be Seconded](#page_13) | [13](#page_13) |
|  | [11.16. Casting Vote](#page_13) | [13](#page_13) |
|  | [11.17. Manner of Taking Poll](#page_13) | [13](#page_13) |
|  | [11.18. Demand for Poll on Adjournment](#page_14) | [14](#page_14) |
|  | [11.19. Chair Must Resolve Dispute](#page_14) | [14](#page_14) |
|  | [11.20. Casting of Votes](#page_14) | [14](#page_14) |
|  | [11.21. No Demand for Poll on Election of Chair](#page_14) | [14](#page_14) |
|  | [11.22. Demand for Poll Not to Prevent Continuance of Meeting](#page_14) | [14](#page_14) |
|  | [11.23. Retention of Ballots and Proxies](#page_14) | [14](#page_14) |
| [12.](#page_14) | [VOTES OF SHAREHOLDERS](#page_14) | [14](#page_14) |
|  | [12.1.Number of Votes by Shareholder or by Shares](#page_14) | [14](#page_14) |

---

------

iii <br>

---

| | | |
|:---|:---|:---|
|  | [12.2.Votes of Persons in Representative Capacity](#page_15) | [15](#page_15) |
|  | [12.3.Votes by Joint Holders](#page_15) | [15](#page_15) |
|  | [12.4.Legal Personal Representatives as Joint Shareholders](#page_15) | [15](#page_15) |
|  | [12.5.Representative of a Corporate Shareholder](#page_15) | [15](#page_15) |
|  | [12.6.Proxy Provisions Do Not Apply to All Companies](#page_16) | [16](#page_16) |
|  | [12.7.Appointment of Proxy Holders](#page_16) | [16](#page_16) |
|  | [12.8.Alternate Proxy Holders](#page_16) | [16](#page_16) |
|  | [12.9.When Proxy Holder Need Not Be Shareholder](#page_16) | [16](#page_16) |
|  | [12.10. Deposit of Proxy](#page_17) | [17](#page_17) |
|  | [12.11. Validity of Proxy Vote](#page_17) | [17](#page_17) |
|  | [12.12. Form of Proxy](#page_17) | [17](#page_17) |
|  | [12.13. Revocation of Proxy](#page_18) | [18](#page_18) |
|  | [12.14. Revocation of Proxy Must Be Signed](#page_18) | [18](#page_18) |
|  | [12.15. Production of Evidence of Authority to Vote](#page_18) | [18](#page_18) |
| [13.](#page_18) | [DIRECTORS](#page_18) | [18](#page_18) |
|  | [13.1.First Directors; Number of Directors](#page_18) | [18](#page_18) |
|  | [13.2.Change in Number of Directors](#page_19) | [19](#page_19) |
|  | [13.3.Directors' Acts Valid Despite Vacancy](#page_19) | [19](#page_19) |
|  | [13.4.Qualifications of Directors](#page_19) | [19](#page_19) |
|  | [13.5.Remuneration of Directors](#page_19) | [19](#page_19) |
|  | [13.6.Reimbursement of Expenses of Directors](#page_19) | [19](#page_19) |
|  | [13.7.Special Remuneration for Directors](#page_20) | [20](#page_20) |
|  | [13.8.Gratuity, Pension or Allowance on Retirement of Director](#page_20) | [20](#page_20) |
| [14.](#page_20) | [ELECTION AND REMOVAL OF DIRECTORS](#page_20) | [20](#page_20) |
|  | [14.1.Election at Annual General Meeting](#page_20) | [20](#page_20) |
|  | [14.2.Consent to be a Director](#page_20) | [20](#page_20) |
|  | [14.3.Failure to Elect or Appoint Directors.](#page_20) | [20](#page_20) |
|  | [14.4.Places of Retiring Directors Not Filled](#page_21) | [21](#page_21) |
|  | [14.5.Directors May Fill Casual Vacancies](#page_21) | [21](#page_21) |
|  | [14.6.Remaining Directors' Power to Act](#page_21) | [21](#page_21) |
|  | [14.7.Shareholders May Fill Vacancies](#page_21) | [21](#page_21) |
|  | [14.8.Additional Directors](#page_21) | [21](#page_21) |
|  | [14.9.Ceasing to be a Director](#page_22) | [22](#page_22) |
|  | [14.10. Removal of Director by Shareholders](#page_22) | [22](#page_22) |
|  | [14.11. Removal of Director by Directors](#page_22) | [22](#page_22) |
| [15.](#page_22) | [POWERS AND DUTIES OF DIRECTORS](#page_22) | [22](#page_22) |
|  | [15.1.Powers of Management.](#page_22) | [22](#page_22) |
|  | [15.2.Appointment of Attorney of Company](#page_22) | [22](#page_22) |
| [16.](#page_23) | [INTERESTS OF DIRECTORS AND OFFICERS](#page_23) | [23](#page_23) |
|  | [16.1.Obligation to Account for Profits](#page_23) | [23](#page_23) |
|  | [16.2.Restrictions on Voting by Reason of Interest](#page_23) | [23](#page_23) |
|  | [16.3.Interested Director Counted in Quorum](#page_23) | [23](#page_23) |
|  | [16.4.Disclosure of Conflict of Interest or Property](#page_23) | [23](#page_23) |
|  | [16.5.Director Holding Other Office in the Company](#page_23) | [23](#page_23) |
|  | [16.6.No Disqualification](#page_24) | [24](#page_24) |
|  | [16.7.Professional Services by Director or Officer](#page_24) | [24](#page_24) |
|  | [16.8.Director or Officer in Other Corporations ..](#page_24) | [24](#page_24) |

---

------

iv <br>

---

| | | |
|:---|:---|:---|
| [17.](#page_24) | [PROCEEDINGS OF DIRECTORS](#page_24) | [24](#page_24) |
|  | [17.1.Meetings of Directors](#page_24) | [24](#page_24) |
|  | [17.2.Voting at Meetings](#page_24) | [24](#page_24) |
|  | [17.3.Chair of Meetings](#page_24) | [24](#page_24) |
|  | [17.4.Meetings by Telephone or Other Communications Medium](#page_25) | [25](#page_25) |
|  | [17.5.Calling of Meetings](#page_25) | [25](#page_25) |
|  | [17.6.Notice of Meetings](#page_25) | [25](#page_25) |
|  | [17.7.When Notice Not Required](#page_25) | [25](#page_25) |
|  | [17.8.Meeting Valid Despite Failure to Give Notice](#page_25) | [25](#page_25) |
|  | [17.9.Waiver of Notice of Meetings](#page_26) | [26](#page_26) |
|  | [17.10. Quorum](#page_26) | [26](#page_26) |
|  | [17.11. Validity of Acts Where Appointment Defective](#page_26) | [26](#page_26) |
|  | [17.12. Consent Resolutions in Writing](#page_26) | [26](#page_26) |
| [18.](#page_27) | [EXECUTIVE AND OTHER COMMITTEES](#page_27) | [27](#page_27) |
|  | [18.1.Appointment and Powers of Executive Committee](#page_27) | [27](#page_27) |
|  | [18.2.Appointment and Powers of Other Committees](#page_27) | [27](#page_27) |
|  | [18.3.Obligations of Committees](#page_27) | [27](#page_27) |
|  | [18.4.Powers of Board](#page_28) | [28](#page_28) |
|  | [18.5.Committee Meetings](#page_28) | [28](#page_28) |
| [19.](#page_28) | [OFFICERS](#page_28) | [28](#page_28) |
|  | [19.1.Directors May Appoint Officers](#page_28) | [28](#page_28) |
|  | [19.2.Functions, Duties and Powers of Officers](#page_28) | [28](#page_28) |
|  | [19.3.Qualifications](#page_29) | [29](#page_29) |
|  | [19.4.Remuneration and Terms of Appointment](#page_29) | [29](#page_29) |
| [20.](#page_29) | [INDEMNIFICATION](#page_29) | [29](#page_29) |
|  | [20.1.Definitions](#page_29) | [29](#page_29) |
|  | [20.2.Mandatory Indemnification of Eligible Parties.](#page_29) | [29](#page_29) |
|  | [20.3.Indemnification of Other Persons](#page_30) | [30](#page_30) |
|  | [20.4.Non-Compliance with Business Corporations Act](#page_30) | [30](#page_30) |
|  | [20.5.Company May Purchase Insurance](#page_30) | [30](#page_30) |
| [21.](#page_30) | [DIVIDENDS](#page_30) | [30](#page_30) |
|  | [21.1.Payment of Dividends Subject to Special Rights](#page_30) | [30](#page_30) |
|  | [21.2.Declaration of Dividends](#page_30) | [30](#page_30) |
|  | [21.3.No Notice Required](#page_30) | [30](#page_30) |
|  | [21.4.Record Date](#page_30) | [30](#page_30) |
|  | [21.5.Manner of Paying Dividend](#page_31) | [31](#page_31) |
|  | [21.6.Settlement of Difficulties](#page_31) | [31](#page_31) |
|  | [21.7.When Dividend Payable](#page_31) | [31](#page_31) |
|  | [21.8.Dividends to be Paid in Accordance with Number of Shares](#page_31) | [31](#page_31) |
|  | [21.9.Receipt by Joint Shareholders](#page_31) | [31](#page_31) |
|  | [21.10. Dividend Bears No Interest](#page_31) | [31](#page_31) |
|  | [21.11. Fractional Dividends](#page_31) | [31](#page_31) |
|  | [21.12. Payment of Dividends](#page_31) | [31](#page_31) |
|  | [21.13. Capitalization of Retained Earnings or Surplus](#page_32) | [32](#page_32) |

---

------

v <br>

---

| | | |
|:---|:---|:---|
| [22.](#page_32) | [ACCOUNTING RECORDS](#page_32) | [32](#page_32) |
|  | [22.1.Recording of Financial Affairs](#page_32) | [32](#page_32) |
|  | [22.2.Inspection of Accounting Records](#page_32) | [32](#page_32) |
| [23.](#page_32) | [NOTICES](#page_32) | [32](#page_32) |
|  | [23.1.Method of Giving Notice](#page_32) | [32](#page_32) |
|  | [23.2.Deemed Receipt](#page_33) | [33](#page_33) |
|  | [23.3.Certificate of Sending](#page_33) | [33](#page_33) |
|  | [23.4.Notice to Joint Shareholders](#page_33) | [33](#page_33) |
|  | [23.5.Notice to Legal Personal Representatives and Trustees](#page_33) | [33](#page_33) |
|  | [23.6.Undelivered Notices](#page_34) | [34](#page_34) |
| [24.](#page_34) | [SEAL AND EXECUTION OF INSTRUMENTS](#page_34) | [34](#page_34) |
|  | [24.1.Who May Attest Seal](#page_34) | [34](#page_34) |
|  | [24.2.Sealing Copies](#page_34) | [34](#page_34) |
|  | [24.3.Mechanical Reproduction of Seal](#page_34) | [34](#page_34) |
|  | [24.4.Execution of Instruments](#page_35) | [35](#page_35) |
| [25.](#page_35) | [PROHIBITIONS](#page_35) | [35](#page_35) |
|  | [25.1.Application](#page_35) | [35](#page_35) |
|  | [25.2.Consent Required for Transfer of Shares or Designated Securities](#page_35) | [35](#page_35) |
| [26.](#page_35) | [RIGHTS AND RESTRICTIONS ATTACHING TO THE VOTING COMMON SHARES](#page_35) | [35](#page_35) |
|  | [26.1.Voting Common Share Rights](#page_35) | [35](#page_35) |
| [27.](#page_36) | [RIGHTS AND RESTRICTIONS ATTACHING TO THE NON-VOTING COMMON SHARES](#page_36) | [36](#page_36) |
|  | [27.1.Non-Voting Common Share Rights](#page_36) | [36](#page_36) |

---

------

## Ex1A-4

------

**NAQI LOGIX INC.**

**PRIVATE PLACEMENT SUBSCRIPTION AND JOINDER AGREEMENT**

The undersigned (the "**Subscriber**") hereby irrevocably subscribes for and agrees to purchase from Naqi Logix Inc. (the "**Issuer**" or "**Naqi**") that number of Voting Common Shares of the Issuer (the "**Base Shares**") set out below at a base price of $2.61 per Base Share (as such may be deemed to be adjusted in accordance with the terms hereunder) (the "**Base Purchase Price per Share**") and, if applicable, such number of additional Voting Common Shares of the Issuer to be issued as bonus shares (the "**Bonus Shares**" and together with the Base Shares, the "**Shares**") to the Subscriber, as prescribed by Schedule "A" to this Subscription Agreement, such that the price per Share so subscribed for shall be determined by dividing the aggregate purchase price for the Shares (excluding any fees) by the number of Shares subscribed for hereunder (collectively, the "**Offering**"). For greater certainty, any Bonus Shares to which the Subscriber is entitled as set out in Schedule "A" to this Subscription Agreement and for which they subscribe for below shall operate so as to discount the Base Purchase Price per Share on the basis of the calculation set out in the preceding sentence. The Subscriber must invest a minimum of $522.00 (exclusive of Bonus Shares); however, the Issuer reserves the right to waive this minimum in its sole discretion. The Subscriber agrees to be bound by the terms and conditions set forth in the attached "Terms and Conditions of Subscription for Shares".

(a) The number of Base Shares that I hereby irrevocably subscribe for is:

EQUITY SHARE COUNT

(b) The number of Bonus Shares to which I am entitled and irrevocably subscribe for is, as prescribed by Schedule "A" hereto is:

XX

(b) The aggregate purchase price for the Shares that I hereby irrevocably subscribe for is:

VESTING AMOUNT

(c) I am a U.S. Purchaser (as defined below) and have read Appendix A below, and I am either an accredited investor (as that term is defined in Regulation D under the Securities Act because I meet at least one of the criteria set forth in Appendix A).

OR

I am not an accredited investor (as that term is defined in Regulation D under the Securities Act) and the aggregate purchase price (based on a purchase price of $2.61 per Security) for the Shares that I am subscribing for under this agreement (together with any previous investments in the Shares pursuant to this Offering) does not exceed 10% of the greater of my net worth or annual income.

ACCREDITATION STATEMENT

INVESTOR SIGNATURES

(d) The Shares being subscribed for will be owned by, and should be recorded on the Company's books as held in the name of:

INVESTOR TITLE

INVESTOR SIGNATURES

Signature

VESTING AS

VESTING AS EMAIL

NOW

Date

------

Naqi Logix Inc.

By:

ISSUER SIGNATURE

\* \* \* \* \*

This Subscription is accepted

on NOW.

APPENDIX A

An accredited investor includes the following categories of investor. Please initial next to the number or numbers below that describe Subscriber. Additional verification may be required:

(1) Subscriber is a natural person whose individual net worth (or combined net worth with Subscriber's spouse if Subscriber is married) as of the date hereof exceeds $1,000,000. Except as set forth below, in calculating a person's net worth, (i) a person's primary residence shall not be included as an asset; (ii) indebtedness that is secured by the person's primary residence, up to the estimated fair market value of the primary residence at the time of the sale of the Shares, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of the sale of the Shares exceeds the amount outstanding sixty (60) days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and (iii) indebtedness that is secured by the person's primary residence in excess of the estimated fair market value of the primary residence at the time of the sale of the Shares shall be included as a liability.

(2) Subscriber is a natural person who had an individual "income" exceeding $200,000 during both of the two most recently completed calendar years (or a joint income with Subscriber's spouse in excess of $300,000 in each of those years) and who has a reasonable expectation of reaching the same income level in the current calendar year.

(3) Subscriber is a natural person who holds any of the following licenses from the Financial Industry Regulatory Authority (FINRA): a General Securities Representative license (Series 7), a Private Securities Offerings Representative license (Series 82), or a Licensed Investment Adviser Representative license (Series 65).

(4) Subscriber is a natural person who is a "knowledgeable employee" of the Company, if the Company were an "investment company" within the meaning of the Investment Company Act of 1940 (the "ICA") but for Section 33(c)(1) or Section 3(c)(7) of the ICA.

(5) Subscriber is a "business development company," as defined in Section 2(a)(48) of the ICA.

(6) Subscriber is an investment adviser registered under the Investment Advisers Act of 1940 (the "Advisers Act") or the laws of any state.

(7) Subscriber is an investment adviser described in section 203(l) (venture capital fund advisers) or section 203(m) (exempt reporting advisers) of the Advisers Act.

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(8) Subscriber is a trust with total assets in excess of $5,000,000 that was not formed for the specific purpose of acquiring the securities offered hereby, and the investment decisions for which are made by a sophisticated person capable of evaluating the merits and risks of the proposed investment.

(9) Subscriber is a revocable trust that may be amended or revoked at any time by the grantors thereof, and all of the grantors are accredited investors.

(10) Subscriber is a Small Business Investment Company licensed by the United States Small Business Administration under Section 301(c) or Section 301(d) of the Small Business Investment Act of 1958.

(11) Subscriber is a "private business development company" as defined in Section 202(a)(22) of the Advisers Act.

(12) Subscriber is a bank, insurance company, registered investment company, business development company, small business investment company, or rural business development company.

(13) Subscriber is a "family office," as defined in rule 202(a)(11)(G)-1 under the Advisers Act, if the family office (i) has assets under management in excess of $5,000,000, (ii) was not formed for the specific purpose of acquiring the securities offered, and (iii) is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment.

(14) Subscriber is a "family client," as defined in rule 202(a)(11)(G)-1 under the Advisers Act, of a family office meeting the requirements above, whose investment in the Company is directed by such family office.

(15) Subscriber is a corporation, a limited liability company, a Massachusetts or similar business trust, a partnership, or a non-profit organization of the type described in Internal Revenue Code section 501(c)(3), in each case not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000.

(16) Subscriber is an "employee benefit plan" (within the meaning of Title I of ERISA) and either (i) the decision to invest in the Company was made by a plan fiduciary that is a bank, savings and loan association, insurance company, or registered investment adviser; (ii) the plan has total assets exceeding $5,000,000; or (iii) if a self-directed plan, investment decisions are made solely by persons who, if executing this document, would qualify as an accredited investor under one or more of the numbered paragraphs above.

(17) Subscriber is a plan established and maintained by a State, its political subdivisions, or an agency or instrumentality of a State or its political subdivisions, for the benefit of its employees, and the plan has assets in excess of $5,000,000.

(18) Subscriber is an entity, including Indian tribes, governmental bodies, funds, and entities organized under the laws of foreign countries, that was not formed to invest in the securities offered and own investment assets in excess of $5 million.

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(19) Subscriber is an entity. Each of Subscriber's equity investors, if executing this document, would qualify as an accredited investor under one or more of the numbered paragraphs above.

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**TERMS AND CONDITIONS OF SUBSCRIPTION FOR VOTING COMMON SHARES OF**<br>**NAQI LOGIX INC.**

**1.** <u>**SUBSCRIPTION**</u>

1.1 On the basis of the representations and warranties and subject to the terms and conditions set forth herein, the Subscriber hereby irrevocably subscribes for and agrees to purchase the number of Base Shares at the Base Purchase Price per Share (as such may be adjusted), and if applicable, the number of Bonus Shares to which the Subscriber is entitled as prescribed by Schedule "A" to this Subscription Agreement, each as set forth on page 2 (such subscription and agreement to purchase being the "**Subscription**") for the Subscription Amount shown on page 2 of this subscription agreement (the "**Agreement**"), which is tendered herewith, on the basis of the representations and warranties and subject to the terms and conditions set forth in this Agreement, it being understood and acknowledged by the Subscriber and the Issuer that the price per Share so subscribed for shall be determined by dividing the aggregate Subscription Amount by the number of Shares subscribed for. For greater certainty, any Bonus Shares to which the Subscriber is entitled as set out in Schedule :"A" to this Subscription Agreement and for which they subscribe for on page 2 hereof shall operate so as to discount the Base Purchase Price per Share on the basis of the calculation in the preceding sentence. The Subscriber must invest a minimum of $522; however, the Issuer reserves the right to waive this minimum in its sole discretion.

1.2 The Issuer hereby agrees to sell the Shares to the Subscriber on the basis of the representations and warranties and subject to the terms and conditions set forth in this Agreement. Subject to the terms of this Agreement, the Agreement will be effective upon its acceptance by the Issuer.

1.3 By executing this Private Placement Subscription and Joinder Agreement, Subscriber hereby agrees to join as a party that is designated as a "Shareholder" to that certain Voting Agreement dated as of April 12, 2021 as such Agreement may be amended and restated hereafter (the "**Voting Agreement**") as entered into by and among the Company and its shareholders attached hereto as Exhibit A, such joinder will become effective upon the Company's acceptance of the Subscription described in this Section 1. Any notice required or permitted to be given to Subscriber under the Voting Agreement shall be given to Subscriber at the address provided with Subscriber's subscription. Subscriber confirms that undersigned has reviewed the Voting Agreement and will be bound by the terms thereof as a party who is designated as a Shareholder thereunder.

**2.** <u>**PAYMENT**</u>

2.1 The Subscription Amount must accompany this Subscription and shall be paid by wire to the Issuer pursuant to the wiring instructions provided by the Issuer. The Subscriber authorizes the Issuer to treat the Subscription Amount as an interest free loan until the closing of the Offering (the "**Closing**").

2.2 The Subscriber acknowledges and agrees that this Agreement, the Subscription Amount and any other documents delivered in connection herewith will be held by or on behalf of the Issuer. In the event that this Agreement is not accepted by the Issuer for whatever reason, in whole or in part, which the Issuer expressly reserves the right to do, the Subscription Amount (without interest thereon) and any other documents delivered in connection herewith will be returned to the Subscriber at the address of the Subscriber as set forth on page 2 of this Agreement.

**3.** <u>**DOCUMENTS REQUIRED FROM ISSUER AND SUBSCRIBER**</u>

3.1 The Subscriber must complete, sign and return to the Issuer an executed copy of this Agreement;

3.2 The Subscriber shall complete, sign and return to the Issuer as soon as possible, on request by the Issuer, any additional documents, questionnaires, notices and undertakings as may be required by any regulatory authorities and applicable law.

3.3 Both parties to this Agreement acknowledge and agree that Osler, Hoskin & Harcourt LLP ("**Osler**") and Nauth LPC ("**Nauth**") have acted as counsel only to the Issuer and is not protecting the rights and interests of the Subscriber. The Subscriber acknowledges and agrees that the Issuer, Osler and Nauth have given the Subscriber the opportunity to seek, and are hereby recommending that the Subscriber obtain, independent legal advice with respect to the subject matter of this Agreement and, further, the Subscriber hereby represents and warrants to the Issuer, Osler and Nauth that the Subscriber has sought independent legal advice or waives such advice.

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**4.** <u>**ACKNOWLEDGEMENTS AND AGREEMENTS OF SUBSCRIBER**</u>

4.1 The Subscriber acknowledges and agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Subscriber is not resident in or subject to the laws of Canada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the current structure of this transaction and all transactions and activities contemplated hereunder is not a scheme to avoid the registration requirements of the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the decision to execute this Agreement and acquire the Shares agreed to be purchased hereunder has not been based upon any oral or written representation as to fact or otherwise made by or on behalf of the Issuer, other than the Regulation A offering circular.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Subscriber understands and agrees that the Issuer and others will rely upon the truth and accuracy of the acknowledgements, representations, warranties, covenants and agreements contained in this Agreement and the Exhibits, as applicable, and agrees that if any of such acknowledgements, representations and agreements are no longer accurate or have been breached, the Subscriber shall promptly notify the Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) there are risks associated with the purchase of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Subscriber and the Subscriber's advisor(s) have had a reasonable opportunity to ask questions of and receive answers from the Issuer in connection with the distribution of the Shares hereunder, and to obtain additional information, to the extent possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information about the Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the books and records of the Issuer were available upon reasonable notice for inspection, subject to certain confidentiality restrictions, by the Subscriber during reasonable business hours at its principal place of business, and all documents, records and books in connection with the distribution of the Shares hereunder have been made available for inspection by the Subscriber, the Subscriber's lawyer and/or advisor(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) all of the information which the Subscriber has provided to the Issuer is correct and complete as of the date this Agreement is signed, and if there should be any change in such information prior to the Closing, the Subscriber will immediately provide the Issuer with such information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Issuer is entitled to rely on the representations and warranties of the Subscriber contained in this Agreement and the Exhibits, as applicable, and the Subscriber will hold harmless the Issuer from any loss or damage it or they may suffer as a result of the Subscriber's failure to correctly complete this Agreement or the Exhibits, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the Subscriber has been advised to consult the Subscriber's own legal, tax and other advisors with respect to the merits and risks of an investment in the Shares and with respect to applicable resale restrictions, and it is solely responsible (and the Issuer is not in any way responsible) for compliance with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any applicable laws of the jurisdiction in which the Subscriber is resident in connection with the distribution of the Shares hereunder, 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) applicable resale restrictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the Subscriber understands and agrees that there may be material tax consequences to the Subscriber of an acquisition or disposition of the Shares, and that the Issuer gives no opinion and makes no representation with respect to the tax consequences to the Subscriber under federal, state, provincial, local or foreign tax law of the Subscriber's acquisition or disposition of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) the Issuer is not a reporting issuer as that term is defined in applicable securities legislation nor will it become a reporting issuer in any jurisdiction in Canada or elsewhere (outside the United States) following completion of the Offering and, as a result:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Issuer will not be subject to the continuous disclosure requirements of such securities legislation including the requirements relating to the production and filing of audited financial statements and other financial information, 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) any applicable hold periods under applicable securities legislation may never expire, and the Shares may be subject to restrictions on resale for an indefinite period of time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) the Issuer will make a notation on its records or give instructions to the registrar and transfer agent of the Issuer, if applicable, in order to implement the restrictions on transfer set forth and described in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) the Subscriber acknowledges and agrees that there is no ready public market for the Shares and that there is no guarantee that a market for their resale will ever exist. The Subscriber must bear the economic risk of this investment indefinitely and the Issuer has no obligation to list the Shares on any market or take any steps (including registration under the Securities Act of 1933, as amended (the "**1933 Act**") or the Securities Exchange Act of 1934, as amended) with respect to facilitating trading or resale of the Shares. The Subscriber acknowledges that the Subscriber is able to bear the economic risk of losing the Subscriber's entire investment in the Shares. The Subscriber also understands that an investment in the Issuer involves significant risks and has taken full cognizance of and understands all of the risk factors relating to the purchase of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) unless the Issuer becomes a public company, the Shares cannot be transferred without the previous consent of the board of directors of the Issuer (the "**Board**"), expressed by resolution of the Board, at the sole discretion of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) the Issuer has advised the Subscriber that the Issuer is relying on an exemption from the requirements to provide the Subscriber with a prospectus and to sell the Shares through a person registered to sell securities under provincial securities legislation and other applicable securities laws, as a consequence of acquiring the Shares pursuant to such exemption, certain protections, rights and remedies provided by the applicable securities legislation including the various provincial securities acts, including statutory rights of rescission or damages, will not be available to the Subscriber.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) no securities commission or similar regulatory authority, other than the United States Securities and Exchange Commission, has reviewed or passed on the merits of any of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) there is no government or other insurance covering any of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) there are restrictions under securities laws on the Subscriber's ability to resell the Shares and it is the responsibility of the Subscriber to find out what those restrictions are and to comply with such restrictions before selling any of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) the Issuer will refuse to register the transfer of any of the Shares to a U.S. Person not made pursuant to an effective registration statement under the 1933 Act or pursuant to an available exemption from the registration requirements of the 1933 Act and in each case in accordance with applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) this Agreement is not enforceable by the Subscriber unless it has been accepted by the Issuer, and the Subscriber acknowledges and agrees that the Issuer reserves the right to reject any Subscription for any reason whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Issuer is not an investment fund within the meaning of the *Securities Act* (British Columbia). No commission or finder's fee has been or shall be paid to any director, officer, founder or control person of the Issuer or of an affiliate of the Issuer in connection with the issuance of the Shares hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) The Subscriber acknowledges that the price of the Shares was set by the Issuer on the basis of the Issuer's internal valuation and no warranties are made as to value.

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**5.** <u>**REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE ISSUER**</u>

5.1 The Issuer represents and warrants to the Subscriber that the following are true as of the Closing (and acknowledges that the Subscriber is relying upon those representations and warranties in connection with the execution and delivery of this Agreement and the completion of the transactions contemplated herein):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer is a corporation duly organized, validly existing and in good standing under the *Business Corporations Act* (British Columbia) and has all the necessary corporate power, authority and capacity required: (i) to carry on its business as presently conducted and as presently proposed to be conducted; and (ii) to enter into this Agreement, and to perform its obligations hereunder. The Issuer is duly qualified to transact business and is in good standing under the laws of each jurisdiction in which the failure to so qualify would have a material adverse effect on the business, affairs, operations, assets (including intellectual property and other intangible assets), liabilities (contingent or otherwise), condition (financial or otherwise), property or capital of the Issuer, whether or not arising in the ordinary course of business and whether or not attributable to any change in conditions relating to economic, financial, currency, exchange, market or otherwise (a "**Material Adverse Effect**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The execution, delivery and performance by the Issuer of this Agreement has been duly authorized by all necessary corporate action on the part of the Issuer. This Agreement constitutes valid and binding obligations of the Issuer, enforceable against the Issuer in accordance with its terms except as limited by (i) bankruptcy, insolvency, liquidation, reorganization, reconstruction and other similar laws generally affecting the enforceability of creditors' rights; and (ii) the effect of rules of law governing the availability of equitable remedies, and will not violate or conflict with the terms of any restriction, agreement or undertaking of the Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The execution, delivery and performance of this Agreement by the Issuer and the completion of the transactions contemplated in this Agreement do not and will not result in or constitute a default, breach or violation or an event that, with notice or lapse of time or both, would be a default, breach or violation of: (i) any of the terms, conditions or provisions of the articles of the Issuer or any resolution of the shareholders or directors of the Issuer; (ii) any agreement, instrument, contract, lease, note, indenture, mortgage or purchase order to which it is a party; (iii) any judgement, order, writ or decree of any court or governmental entity; or (iv) any applicable law. The execution, delivery and performance of the Agreement by the Issuer and the completion of the transactions contemplated in this Agreement will not result in the creation of any lien, charge or encumbrance upon any assets of the Issuer or the suspension, revocation, forfeiture or nonrenewal of any material permit or license applicable to the Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Neither the Issuer, nor any partner, director, or officer or any person directly or indirectly controlling, controlled by or under common control with the Issuer is subject to any "disqualifying event" set forth in Rule 506(d) of Regulation D under the 1933 Act, or any similar disqualification provision.

**6.** <u>**REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SUBSCRIBER**</u>

6.1 The Subscriber hereby represents and warrants to and covenants with the Issuer (which representations, warranties and covenants shall survive the Closing) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) unless the Subscriber is a U.S. Purchaser[<sup>1</sup>](#_ftn1) the Subscriber is a resident of, or if not an individual, has a head office or is otherwise subject to the laws of, the jurisdiction of its address set out on page 2 hereof, and that such address is the residence of the Subscriber or the place of business of the Subscriber at which the Subscriber received and accepted the offer to acquire the Shares and was not created or used solely for the purpose of acquiring the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) unless the Subscriber is a U.S. Purchaser, the Subscriber is not in the United States, the Subscriber (and any person acting on its behalf) did not receive an offer to purchase the Shares in the United States, and the individuals making the order to purchase the Shares and executing and delivering this Agreement on behalf of the Subscriber were not in the United States when the order was placed and this Agreement was executed and delivered;

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[<sup>1</sup>](#_ftnref1) A "U.S. Purchaser" means a subscriber for Shares that (a) was in United States, (b) any person that receives or received an offer of the Shares while in the United States, and (c) any person that is in the United States at the time the buy order was made or this Agreement was executed or delivered; provided, however, that "U.S. Purchaser shall not include any persons excluded from the definition of "U.S. person" pursuant to Rule 902(k)(2)(vi) of Regulation S or persons holding accounts excluded from the definition of "U.S. person" pursuant to Rule 902(k)(2)(i) of Regulation S, solely in their capacities as holders of such accounts.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) unless the Subscriber is a U.S. Purchaser, Subscriber represents covenants and certifies to the Corporation 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;(i) the Subscriber (and if the Subscriber is acting as agent for a disclosed principal, such disclosed principal) is not resident in Canada or the United States or subject to applicable securities laws of Canada or the United States;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the issuance of the securities in the capital of the Corporation under this agreement (the "Securities") by the Corporation to the Subscriber (or its disclosed principal, if any) may be effected by the Corporation without the necessity of the filing of any document with or obtaining any approval from or effecting any registration with any governmental entity or similar regulatory authority having jurisdiction over the Subscriber (or its disclosed principal, if any);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Subscriber is knowledgeable of, or has been independently advised as to, the applicable securities laws of the jurisdiction which would apply to this subscription, if there are any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the issuance of the Shares to the Subscriber (and if the Subscriber is acting as agent for a disclosed principal, such disclosed principal) complies with the requirements of all applicable laws in the jurisdiction of its residence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the applicable securities laws do not require the Corporation to register the Shares, file a prospectus or similar document, or make any filings or disclosures or seek any approvals of any kind whatsoever from any regulatory authority of any kind whatsoever in the international jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the purchase of the Shares by the Subscriber, and (if applicable) each disclosed beneficial subscriber, does not require the Corporation to become subject to regulation in the Subscriber's or disclosed beneficial subscriber's jurisdiction, nor does it require the Corporation to attorn to the jurisdiction of any governmental authority or regulator in such jurisdiction or require any translation of documents by the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the Subscriber will not sell, transfer or dispose of the Shares except in accordance with all applicable laws, including applicable securities laws of Canada and the United States, and the Subscriber acknowledges that the Corporation shall have no obligation to register any such purported sale, transfer or disposition which violates applicable Canadian or United States securities laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the Subscriber will provide such evidence of compliance with all such matters as the Corporation or its counsel may request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) no "bad actor" disqualifying event described in Rule 506(d)(1)(i)-(viii) of the 1933 Act (a "**Disqualification Event**") is applicable to the Subscriber, except for a Disqualification Event as to which Rule 506(d)(2)(ii-iv) or (d)(3), is applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Subscriber is knowledgeable of, or has been independently advised as to, the applicable laws of the securities regulators having application in the jurisdiction in which the Subscriber is resident which would apply to the offer and sale of the Shares, including any restrictions with respect to the trading in, and the restricted period or statutory hold period applicable to the Shares imposed by the applicable securities laws of the jurisdiction in which the Subscriber resides or to which such Subscriber is subject;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Subscriber is purchasing the Shares as principal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Subscriber is knowledgeable of, or has been independently advised as to, the applicable laws of the securities regulators having application in the jurisdiction in which the Subscriber is resident (the "**International Jurisdiction**") which would apply to the offer and sale of the Shares (in addition to the laws of Canada, if applicable), and the Subscriber is purchasing the Shares pursuant to, and in compliance with, the laws of the International Jurisdiction;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Subscriber is purchasing the Shares pursuant to exemptions from prospectus or equivalent requirements under applicable laws or, if such is not applicable, the Subscriber is permitted to purchase the Shares under the applicable laws of the securities regulators in the International Jurisdiction without the need to rely on any exemptions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the Subscriber is resident outside of Canada and the United States:

&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 applicable laws of the authorities in the International Jurisdiction do not require the Issuer to make any filings or seek any approvals of any kind whatsoever from any securities regulator of any kind whatsoever in the International Jurisdiction in connection with the offer, issue, sale or resale of any of the 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) the purchase of the Shares by the Subscriber does not trigger:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. any obligation to prepare and file a prospectus or similar document, or any other report with respect to such purchase in the International Jurisdiction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. any continuous disclosure reporting obligation of the Issuer in the International Jurisdiction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Subscriber will, if requested by the Issuer, deliver to the Issuer a certificate or opinion of local counsel from the International Jurisdiction which will confirm the matters referred to in subparagraphs (iii), (iv) and (v) above to the satisfaction of the Issuer, acting reasonably;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the Subscriber has the legal capacity and competence to enter into and execute this Agreement and to take all actions required pursuant hereto and, if the Subscriber is a corporate entity, it is duly incorporated and validly subsisting under the laws of its jurisdiction of incorporation and all necessary approvals by its directors, shareholders and others have been obtained to authorize execution and performance of this Agreement on behalf of the Subscriber;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the entering into of this Agreement and the transactions contemplated hereby do not result in the violation of any of the terms and provisions of any law applicable to, or, if applicable, the constating documents of, the Subscriber or of any agreement, written or oral, to which the Subscriber may be a party or by which the Subscriber is or may be bound;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) the Subscriber has duly executed and delivered this Agreement and it constitutes a valid and binding agreement of the Subscriber enforceable against the Subscriber;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) the Subscriber has received and carefully read this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) the Subscriber is aware that an investment in the Issuer is speculative and involves certain risks, including the possible loss of the entire investment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) the Subscriber has made an independent examination and investigation of an investment in the Shares and the Issuer and agrees that the Issuer will not be responsible in any way whatsoever for the Subscriber's decision to invest in the Shares and the Issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) the Subscriber is not an underwriter of, or dealer in, any of the Shares, nor is the Subscriber participating, pursuant to a contractual agreement or otherwise, in the distribution of the Shares or any of them; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) no person has made to the Subscriber any written or oral representations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) that any person will resell or repurchase any of the 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) that any person will refund the purchase price of any of the Shares, 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;(iii) as to the future price or value of any of the Shares.

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**7.** <u>**REPRESENTATIONS AND WARRANTIES WILL BE RELIED UPON**</u>

7.1 The Issuer and the Subscriber each acknowledge that the acknowledgements, representations and warranties made by it contained herein are made with the intention that they may be relied upon by the parties and their legal counsel in determining (i) the Subscriber's willingness to purchase the Shares and (ii) the Subscriber's eligibility to purchase the Shares under applicable securities legislation, or (if applicable) the eligibility of others on whose behalf it is contracting hereunder to purchase the Shares under applicable securities legislation. The Subscriber further agrees that by accepting delivery of the certificates representing the Shares, it will be representing and warranting that the acknowledgements, representations and warranties contained herein are true and correct as of the date hereof and will continue in full force and effect notwithstanding any subsequent disposition by the Subscriber of such Shares.

**8.** <u>**RESALE RESTRICTIONS**</u>

8.1 The Subscriber acknowledges that any resale of the Shares will be subject to resale restrictions contained in the securities legislation applicable to the Issuer, the Subscriber and any proposed transferee.

**9.** <u>**LEGENDING AND REGISTRATION OF SUBJECT SHARES**</u>

9.1 The Subscriber hereby acknowledges that upon the issuance thereof, and until such time as the same is no longer required under the applicable securities laws and regulations and as required pursuant to the Shareholders Agreement, the certificates representing any of the Shares may bear a legend in substantially the following form:

THERE ARE SPECIAL RIGHTS AND RESTRICTIONS ATTACHED TO THESE SHARES AND A COPY OF THE FULL TEXT THEREOF MAY BE OBTAINED FROM THE REGISTERED AND RECORDS OFFICE OF THE COMPANY WITHOUT CHARGE.

THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A VOTING AGREEMENT, AS MAY BE AMENDED FROM TIME TO TIME (AS COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST FROM THE COMPANY) AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF THAT VOTING AGREEMENT, INCLUDING CERTAIN RESTRICTIONS ON TRANSFER AND OWNERSHIP SET FORTH THEREIN.

UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THESE SECURITIES MUST NOT TRADE THE SECURITIES BEFORE THE DATE THAT IS FOUR MONTHS AND ONE DAY AFTER THE LATER OF: (I) THE DATE OF ISSUE, AND (II) THE DATE THE ISSUER BECOMES A REPORTING ISSUER IN ANY PROVINCE OR TERRITORY IN CANADA.

9.2 The Subscriber hereby acknowledges and agrees to the Issuer making a notation on its records or giving instructions to the registrar and transfer agent of the Issuer, if applicable, in order to implement the restrictions on transfer set forth and described in this Agreement.

**10.** <u>**COLLECTION OF PERSONAL INFORMATION**</u>

10.1 The Subscriber acknowledges and consents to the fact that the Issuer is collecting the Subscriber's personal information for the purpose of fulfilling this Agreement and completing the Offering. The Subscriber's personal information (and, if applicable, the personal information of those on whose behalf the Subscriber is contracting hereunder) may be disclosed by the Issuer to (a) stock exchanges or securities regulatory authorities, (b) the Issuer's registrar and transfer agent, (c) Canadian or U.S. tax authorities, (d) authorities pursuant to the *Proceeds of Crime (Money Laundering) and Terrorist Financing Act* (Canada) and (e) any of the other parties involved in the Offering, including legal counsel, and may be included in record books in connection with the Offering. By executing this Agreement, the Subscriber is deemed to be consenting to the foregoing collection, use and disclosure of the Subscriber's personal information (and, if applicable, the personal information of those on whose behalf the Subscriber is contracting hereunder) for the foregoing purposes and to the retention of such personal information for as long as permitted or required by law or business practice. Notwithstanding that the Subscriber may be purchasing Shares as agent on behalf of an undisclosed principal, the Subscriber agrees to provide, on request, particulars as to the nature and identity of such undisclosed principal, and any interest that such undisclosed principal has in the Issuer, all as may be required by the Issuer in order to comply with the foregoing.

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Furthermore, the Subscriber is hereby notified that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Issuer may deliver to any securities commission having jurisdiction over the Issuer, the Subscriber or this subscription, including any Canadian provincial securities commissions and/or the SEC (collectively, the **"Commissions"**) certain personal information pertaining to the Subscriber, including such Subscriber's full name, residential address and telephone number, the number of shares or other securities of the Issuer owned by the Subscriber, the number of Shares purchased by the Subscriber and the total purchase price paid for such Shares, the prospectus exemption relied on by the Issuer and the date of distribution of the Shares,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such information is being collected indirectly by the Commissions under the authority granted to them in securities legislation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such information is being collected for the purposes of the administration and enforcement of the securities laws, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Subscriber may contact the following public official in British Columbia with respect to questions about the British Columbia Securities Commission's indirect collection of such information at the following address and telephone number:

British Columbia Securities Commission<br>701 West Georgia Street<br>P.O. Box 10142, Pacific Centre<br>Vancouver, B.C. V7Y 1L2<br>Telephone: 604-899-6854 or 1-800-373-6393 (toll free across Canada)

**11.** <u>**COSTS**</u>

11.1 The Subscriber acknowledges and agrees that all costs and expenses incurred by the Subscriber (including any fees and disbursements of any special counsel retained by the Subscriber) relating to the purchase of the Shares shall be borne by the Subscriber.

**12.** <u>**GOVERNING LAW**</u>

12.1 This Agreement is exclusively governed by the laws of the Province of British Columbia and the federal laws of Canada applicable thereto. The Subscriber, in its personal capacity and, if applicable, on behalf of each beneficial purchaser for whom it is acting, irrevocably attorns to the exclusive jurisdiction of the courts of the Province of British Columbia.

**13.** <u>**SURVIVAL**</u>

13.1 This Agreement, including without limitation the representations, warranties and covenants contained herein, shall survive and continue in full force and effect and be binding upon the parties hereto notwithstanding the completion of the purchase of the Shares by the Subscriber pursuant hereto.

**14.** <u>**ASSIGNMENT**</u>

14.1 This Agreement is not transferable or assignable.

**15.** <u>**FUNDS**</u>

15.1 Unless otherwise indicated, all funds are set out in U.S. dollars.

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**16.** <u>**SEVERABILITY**</u>

16.1 The invalidity or unenforceability of any particular provision of this Agreement shall not affect or limit the validity or enforceability of the remaining provisions of this Agreement.

**17.** <u>**ENTIRE AGREEMENT**</u>

17.1 Except as expressly provided in this Agreement and in the agreements, instruments and other documents contemplated or provided for herein, this Agreement contains the entire agreement between the parties with respect to the sale of the Shares and there are no other terms, conditions, representations or warranties, whether expressed, implied, oral or written, by statute or common law, by the Issuer or by anyone else.

**18.** <u>**NOTICES**</u>

18.1 All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by electronic mail or facsimile. Notices to the Subscriber and the Issuer shall be directed to the addresses set out in this Agreement.

**19.** <u>**COUNTERPARTS AND ELECTRONIC MEANS**</u>

19.1 This Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, shall constitute an original and all of which together shall constitute one instrument. Delivery of an executed copy of this Agreement by electronic mail or facsimile transmission or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this Agreement as of the date hereinafter set forth.

[End of Subscription Agreement]

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**SCHEDULE "A"**

**BONUS SHARE ENTITLEMENTS**

**Loyalty Bonus**

If the Subscriber has previously invested in the Issuer or registered in the Issuer's Regulation A financing as qualified July 26, 2022, but were not able to complete such investment, the Subscriber is entitled to 5% additional Voting Common Shares (the **Common Shares**") of the Issuer as Bonus Shares if participating in this Offering.

**Reservation Bonus**

Reservation holders in the Issuer's "testing the waters" page hosted on the DealMaker Securities LLC Crowdfunding platform are eligible to receive 5% additional Common Shares as Bonus Shares (the "**Reservation Bonus Shares**"). In order to be eligible for the Reservation Bonus Shares an investor must indicate their interest in this Offering by making a non-binding "reservation" on the Company's testing the waters page hosted by DealMaker Securities LLC Crowdfunding. There is no minimum "reservation" amount required to be eligible for the Reservation Bonus and there is no obligation to purchase securities as part of the Offering if a "reservation" is made. Any Subscriber making a non-binding "reservation" will be eligible for the Reservation Bonus Shares for the total number of Common Shares they subscribe for, in fact, as part of the Offering whether more or less than the shares "reserved" are subscribed for.

**Volume Based Bonus Shares**

Subscribers who subscribe for at least $1,000 will receive the following:

• 2% additional Common Shares as Bonus Shares

Subscribers who invest at least $2,000 will receive the following:

• 5% additional Common Shares as Bonus Shares

Investors who invest at least $3,000 will receive the following:

• 10% additional Common Shares as Bonus Shares

Investors who invest at least $5,000 will receive the following:

• 15% additional Common Shares as Bonus Shares

Investors who invest at least $10,000 will receive the following:

• 20% additional Common Shares as Bonus Shares

Investors who invest at least $50,000 will receive the following:

• 20% additional Common Shares as Bonus Shares and a private virtual meeting with Naqi's inventor, David Segal, founder and CIO.

Investors who invest at least $100,000 will receive the following:

• 20% additional Common Shares as Bonus Shares and an exclusive in person meeting with Naqi's inventor and CIO, David Segal, with a live product demonstration. Flights/transportation and accommodations will be included

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Investors who invest at least $250,000 will receive the following:

• 20% additional Common Shares as Bonus Shares and spend a day with Naqi's, David Segal, and CEO with hands-on experience of the Naqi earbud at Harrisburg University's Gaming Lab.

<br>NOTE:

\*The Loyalty Bonus Shares, Reservation Bonus Shares, and Volume Based Bonus Shares may be stacked up to a cumulative maximum of 20% additional Common Shares as Bonus Shares.

\*\*Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

\*\*\*In order to receive perks from an investment, Subscribers must submit a single subscription under the Offering that meets the minimum entitlement requirement. The amount invested does not include amounts paid directly to DealMaker Securities LLC as part of the 3.5% processing fee. Bonus Shares from entitlements will not be granted if a Subscriber submits multiple subscriptions that, when combined, meet the entitlement requirement. All entitlements occur when the offering is completed.

\*\*\*\*Crowdfunding investments made through a self-directed individual retirement account ("**IRA**") cannot receive perquisites due to tax laws and shall not be eligible to receive any perquisites to which they may otherwise be entitled as part of this Offering. The Internal Revenue Service prohibits self-dealing transactions in which the investor receives an immediate, personal financial gain on investments owned by their retirement account.

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EXHIBIT A

VOTING AGREEMENT

**THIS VOTING AGREEMENT** (the "**Agreement**") is made and entered into as of _________, 20__ by and among Naqi Logix Inc., a corporation existing under the Business Corporations Act (British Columbia) (the "**Company**") and those shareholders of the Company listed on <u>Schedule A</u> (together with any subsequent shareholders, or any transferees, who become parties hereto pursuant to <u>Section 6.2</u> or <u>6.3</u>) (the "**Shareholders**").

<u>**RECITALS**</u>

**WHEREAS**, the Shareholders own all of the outstanding Shares (as defined below);

**AND WHEREAS**, the Shareholders and the Company desire to (a) provide certain Shareholders with the right, among other rights, to designate the election of certain members of the board of directors of the Company (the "**Board**") in accordance with the terms of this Agreement; and (b) set forth agreements and understandings with respect to how Shares (as defined below) held by the Shareholders will be voted on, or tendered in connection with, a Sale of the Company (as defined below).

**NOW, THEREFORE**, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Voting Provisions Regarding the Board of Directors</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <u>Size of the Board</u>. Each Shareholder shall vote, or cause to be voted, all Shares (as defined below) owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that the size of the Board shall be set and remain at a number corresponding to the number of persons designated pursuant to <u>Section 1.2</u>. For purposes of this Agreement, the term "Shares" means shares in the capital of the Company, including all Voting Common Shares and Non-Voting Shares (the "Common Shares"), now owned or subsequently acquired by a Shareholder, however acquired, whether through share splits, share dividends, reclassifications, recapitalizations, similar events or otherwise, but excluding, for greater certainty, any other securities that are, directly or indirectly, convertible into or exchangeable or exercisable for shares in the capital of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 <u>Board Composition</u>. Each Shareholder shall vote, or cause to be voted, all Shares owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that at each annual or special meeting of shareholders at which an election of directors is held or pursuant to any written resolution of the shareholders, the following persons shall be elected to the Board:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) up to seven individuals designated by Mark Godsy ("Godsy") for so long as Godsy continues Providing Services to the Company, one of whom shall initially be Godsy.

For purposes of this Agreement: (i) an individual, firm, corporation, partnership, association, lim- ited liability company, trust or any other entity (collectively, a "Person") shall be deemed an "Affiliate" of another Person who, directly or indirectly, controls, is controlled by or is under common control with such Person, including any general partner, managing member, officer or director of such Person or any venture capital fund now or hereafter existing that is controlled by one or more general partners or managing members of, or shares the same management company with, such Person; (ii) "**Associate**" means, with respect to any natural person: (1) a body corporate, if such natural person beneficially owns, directly or indirectly, voting securities carrying more than 50% of the voting rights attached to all voting securities of such body corporate; (2) a trust or estate for the benefit of such natural person or one or more of such natural person's Immediate Family Members (as defined below); (3) a registered retirement savings plan of such natural person; or (4) an Immediate Family Member of such natural person; (iii) "**Immediate Family Member**" means, with respect to a natural person, a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in- law, brother-in-law, or sister-in-law, including adoptive relationships, of such natural person; and (iv) a Person shall be deemed to be "**Providing Services to the Company**" if such Person is either: (1) employed as an employee of the Company or any subsidiary of the Company on a full-time or part-time basis; (2) engaged by the Company or any subsidiary of the Company as an independent contractor, consultant or an advisor pursuant to a written or oral agreement; (3) appointed as an officer of the Company or any subsidiary of the Company; or (4) otherwise providing services to the Company or any subsidiary of the Company in his or her capacity as an owner of the Company.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 <u>Failure to Designate a Board Member</u>. In the absence of any designation from the Persons or groups with the right to designate a director as specified above, the director previously designated by them and then serving shall be re-elected if still eligible to serve as provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 <u>Removal of Board Members</u>. Each Shareholder shall vote, or cause to be voted, all Shares owned by such Shareholder, or over which such Shareholder has voting control, from time to time and at all times, in whatever manner as shall be necessary to ensure that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no director elected pursuant to <u>Sections 1.2</u> or <u>1.3</u> may be removed from office unless such removal is directed or approved by the affirmative vote of the Person, or Persons, entitled under <u>Section 1.2</u> to designate that director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) upon the request of any party entitled to designate a director as provided in <u>Section 1.2</u> to remove such director, such director shall be removed.

All Shareholders shall execute any written resolutions required to perform their respective obligations under this <u>Section 1.4</u>, and the Company shall, at the request of any party entitled to designate directors, call a special meeting of shareholders for the purpose of electing directors. Without limiting the foregoing, the Board shall take all steps necessary for the Company, to the extent permitted by law, to fill vacancies in accordance with this <u>Section 1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 <u>No Liability for Election of Recommended Directors</u>. No Shareholder, nor any Affiliate or Associate of any Shareholder, shall have any liability as a result of designating a person for election as a director for any act or omission by such designated person in his or her capacity as a director of the Company, nor shall any Shareholder have any liability as a result of voting for any such designee in accordance with 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;1.6 <u>Ceasing To Have the Right to Nominate a Director</u>. If any Shareholder ceases to have the right to designate a director pursuant to <u>Section 1.2</u>, then such director shall be designated by one or more Shareholders of record holding in aggregate, at the time of reference, shares to which are attached more than 50% of the votes attached to the outstanding Shares (the "**Majority Holders**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 <u>Board Chair</u>. The majority of directors then in office may vote to appoint the chair of the Board. In the case of an equality of votes, the chair of the Board (or of a particular meeting of the Board) shall not be entitled to a second or casting vote.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Voting Regarding Shareholder Actions</u>. Subject to <u>Section 3</u>, (a) if: (i) in the case of any action that would require a "special resolution" (as defined in the Business Corporations Act (British Columbia) (the "Act")) to be approved by the Shareholders or would entitle any Shareholders to vote as a separate class or series as required pursuant to the Act, one or more Shareholders of record holding in aggregate, at the time of reference, shares to which are attached more than two-thirds of the votes attached to the outstanding Shares (the "**Supermajority Holders**"); (ii) in the case of any other action that would require an "ordinary resolution" (as defined in the Act) to be approved by the Shareholders; or (iii) in the case of waiving the requirement to appoint an auditor or the requirement to produce or publish financial statements under the Act which would require a "unanimous resolution" (as defined in the Act) to be approved by all Shareholders, the Majority Holders, in any such case, agree by written consent to approve such action (each action, a "**Shareholder Action**"); and (b) such Shareholder Action has also been approved by the Board, then all Shareholders shall: (1) vote all of their respective Shares in favour of such Shareholder Action; (2) waive any dissent, appraisal or similar rights to which they may be entitled with respect to such Shareholder Action (or the underlying action or transaction to which such Shareholder Action pertains) to the extent permitted by law; and (3) execute and deliver all resolutions, consents and other instruments in favour of such Shareholder Action.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Drag-Along Right</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Definitions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A "**Sale of the Company**" means either: (i) a transaction or series of related transactions in which a Person, or a group of related Persons, acquires from Shareholders, Shares representing more than 50% of the outstanding voting power of the Company (a "**Share Sale**"); or (ii) a Deemed Liquidation Event (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Deemed Liquidation Event**" means, unless the holders of a majority of the outstanding voting shares in the capital of the Company elect otherwise by written notice sent to the Company at least 10 days prior to the effective date of any such event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) an amalgamation or arrangement in which: (1) the Company is a constituent party; or (2) a subsidiary of the Company is a constituent party and the Company issues shares in its capital pursuant to such amalgamation or arrangement, except any such amalgamation or arrangement involving the Company or a subsidiary of the Company in which the shares in the capital of the Company outstanding immediately prior to such amalgamation or arrangement continue to represent, or are converted into or exchanged for shares that represent, immediately following such amalgamation or arrangement, at least a majority, by voting power, of the outstanding shares in the capital of (X) the surviving or resulting corporation or (Y) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such amalgamation or arrangement, the parent corporation of such surviving or resulting corporation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Company or any subsidiary of the Company of all or substantially all the assets of the Company and its subsidiaries taken as a whole, or the sale or disposition (whether by merger or otherwise) of one or more subsidiaries of the Company if substantially all of the assets of the Company and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned subsidiary of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Actions to be Taken</u>. If, the Supermajority Holders (the "**Electing Holders**") and the Board approve a Sale of the Company specifying, in writing, that this <u>Section 3</u> shall apply to such transaction, then each Shareholder and the Company shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if such transaction requires shareholder approval, with respect to all Shares that such Shareholder owns or over which such Shareholder otherwise exercises voting power, vote (in person, by proxy or by action by written resolution, as applicable) all Shares in favour of, and adopt, such Sale of the Company (together with any related amendment to the articles and notice of articles of the Company (as may be amended from time to time) (the "**Articles**") required in order to implement such Sale of the Company) and vote in opposition to any and all other proposals that could reasonably be expected to delay or impair the ability of the Company to consummate such Sale of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if such transaction is a Share Sale, sell the same proportion of Shares beneficially held by such Shareholder as is being sold by the Electing Holders to the Person to whom the Electing Holders propose to sell their Shares, and, except as permitted in <u>Section 3.3</u>, on the same terms and conditions as the Electing Holders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) execute and deliver all related documentation and take any such other action in support of the Sale of the Company as shall reasonably be requested by the Company or the Electing Holders in order to carry out the terms and provision of this <u>Section 3</u>, including executing and delivering instruments of conveyance and transfer, any purchase agreement, merger agreement, amalgamation agreement, arrangement agreement, indemnity agreement, escrow agreement, consent, waiver, governmental filing, share certificates duly endorsed for transfer (free and clear of impermissible liens, claims and encumbrances) and any similar or related 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) not deposit, and cause their Affiliates and Associates not to deposit, except as provided in this Agreement, any Shares owned by such Shareholder or any Affiliate or Associate of such Shareholder in a voting trust or subject any Shares to any arrangement or agreement with respect to the voting of such Shares, unless specifically requested to do so by the acquiror in connection with the Sale of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) refrain from exercising any dissent rights or rights of appraisal under applicable law at any time with respect to such Sale of the Company;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) if the consideration to be paid in exchange for the Shares pursuant to this <u>Section 3</u> includes any securities and due receipt thereof by any Shareholder would require under applicable law (i) the registration or qualification of such securities or of any person as a broker or dealer or agent with respect to such securities or (ii) the provision to any Shareholder of any information other than such information as a prudent issuer would generally furnish in an offering made solely to "accredited investors" as defined in Section 1.1 of Regulation 45-106 respecting Prospectus Exemptions in Québec and in National Instrument 45-106 elsewhere in Canada or as defined in Regulation D promulgated under the United States Securities Act of 1933, as amended (in either case, "Accredited Investors"), the Company may cause to be paid to any such Shareholder in lieu thereof, against surrender of the Shares that would have otherwise been sold by such Shareholder, an amount in cash equal to the fair value (as determined in good faith by the Board) of the securities that such Shareholder would otherwise receive as of the date of the issuance of such securities in exchange for the Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) if the Electing Holders, in connection with such Sale of the Company, appoint a shareholder representative (the "**Shareholder Representative**") with respect to matters affecting the Shareholders under the applicable definitive transaction agreements following consummation of such Sale of the Company, (i) consent to (1) the appointment of such Shareholder Representative, (2) the establishment of any applicable escrow, expense or similar fund in connection with any indemnification or similar obligations, and (3) the payment of such Shareholder's pro rata portion (from the applicable escrow or expense fund or otherwise) of any and all reasonable fees and expenses to such Shareholder Representative in connection with such Shareholder Representative's services and duties in connection with such Sale of the Company and its related service as the representative of the Shareholders, and (ii) not assert any claim or commence any suit against the Shareholder Representative or any other Shareholder with respect to any action or inaction taken or failed to be taken by the Shareholder Representative in connection with its service as the Shareholder Representative, absent fraud or wilful misconduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Exceptions</u>. Notwithstanding the foregoing, a Shareholder shall not be required to comply with <u>Section 3.2</u> in connection with any proposed Sale of the Company (the "**Proposed Sale**") unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any representations and warranties to be made by such Shareholder in connection with the Proposed Sale are limited to representations and warranties related to authority, ownership and the ability to convey title to such Shares, including representations and warranties that (i) the Shareholder holds all right, title and interest in and to the Shares such Shareholder purports to hold, free and clear of all liens and encumbrances, (ii) the obligations of the Shareholder in connection with the transaction have been duly authorized, if applicable, (iii) the documents to be entered into by the Shareholder have been duly executed by the Shareholder and delivered to the acquirer and are enforceable against the Shareholder in accordance with their respective terms, and (iv) neither the execution and delivery of documents to be entered into in connection with the transaction, nor the performance of the Shareholder's obligations thereunder, will cause a breach or violation of the terms of any agreement, law or judgment, order or decree of any court or governmental agency;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Shareholder shall not be liable for the inaccuracy of any representation or warranty made by any other Person in connection with the Proposed Sale, other than the Company (except that and only to the extent that funds may be paid out of an escrow established to cover breach of representations, warranties and covenants of the Company as well as breach by any Shareholder of any representations, warranties and covenants provided by all Shareholders with respect to the Company);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the liability for indemnification, if any, of such Shareholder in the Proposed Sale and for the inaccuracy of any representations and warranties made by the Company or its Shareholders in connection with such Proposed Sale is several and not joint with any other Person (except that and only to the extent that funds may be paid out of an escrow established to cover breach of representations, warranties and covenants of the Company as well as breach by any Shareholder of any representations, warranties and covenants provided by all Shareholders with respect to the Company), and subject to the provisions of the Articles related to the allocation of the escrow, is pro rata in proportion to, and does not exceed, the amount of consideration paid to such Shareholder in connection with such Proposed Sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) liability shall be limited to such Shareholder's applicable share (determined based on the respective proceeds payable to each Shareholder in connection with such Proposed Sale in accordance with the provisions of the Articles) of a negotiated aggregate indemnification amount that applies equally to all Shareholders but that in no event exceeds the amount of consideration otherwise payable to such Shareholder in connection with such Proposed Sale, except with respect to claims related to fraud by such Shareholder, the liability for which need not be limited as to such Shareholder;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) upon the consummation of the Proposed Sale, (i) each holder of each class or series of Shares will receive the same form of consideration for their Shares of such class or series as is received by other holders in respect of their Shares of such same class or series, (ii) each holder of Common Shares will receive the same amount of consideration per Common Share as is received by other holders in respect of their Common Shares, and (iii) the aggregate consideration receivable by all Shareholders shall be allocated among the Shareholders on the basis of the relative liquidation preferences to which the Shareholders are entitled in a Deemed Liquidation Event (assuming for this purpose that the Proposed Sale is a Deemed Liquidation Event) in accordance with the Articles in effect immediately prior to the Proposed Sale; <u>provided, however</u>, that, notwithstanding the foregoing, if the consideration to be paid in exchange for any Shareholder's Shares pursuant to this <u>Section 3.3(e)</u> includes any securities and due receipt thereof by any Shareholder would require under applicable law (i) the registration or qualification of such securities or of any person as a broker or dealer or agent with respect to such securities or (ii) the provision to any Shareholder of any information other than such information as a prudent issuer would generally furnish in an offering made solely to Accredited Investors, the Company may cause to be paid to any such Shareholder in lieu thereof, against surrender of such Shareholders' Shares, which would have otherwise been sold by such Shareholder, an amount in cash equal to the fair value (as determined in good faith by the Board) of the securities which such Shareholder would otherwise receive as of the date of the issuance of such securities in exchange for such Shareholder's Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) subject to <u>Section 3.3(e)</u>, if any holders of any class or series of Shares are given an option as to the form and amount of consideration to be received as a result of the Proposed Sale, all holders of such class or series of Shares will be given the same option; <u>provided, however</u>, that nothing in this <u>Section 3.3(f)</u> shall entitle any holder to receive any form of consideration that such holder would be ineligible to receive as a result of such holder's failure to satisfy any condition, requirement or limitation that is generally applicable to the Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Restrictions on Sales of Control of the Company</u>. No Shareholder shall be a party to any Share Sale unless all Shareholders are allowed to participate in such transaction and the consideration received pursuant to such transaction is allocated among the parties thereto in the manner specified in the Articles in effect immediately prior to the Share Sale (as if such transaction were a Deemed Liquidation Event).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Remedies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Covenants of the Company</u>. The Company shall use its best efforts, within the requirements of applicable law, to ensure that the rights granted under this Agreement are effective and that the parties enjoy the benefits of this Agreement. Such actions include the use of the Company's best efforts to cause the nomination and election of the directors as provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Irrevocable Proxy and Power of Attorney</u>. Each Shareholder hereby constitutes and appoints as the proxies of such Shareholder and hereby grants a power of attorney to the Chief Executive Officer of the Company (or if no such officer is appointed, the most senior officer of the Company) and a designee of the Electing Holders, and each of them, with full power of substitution, with respect to the matters set forth herein, including election of persons as members of the Board in accordance with <u>Section 1</u>, votes regarding any Shareholder Action pursuant to <u>Section 2</u> and votes regarding any Sale of the Company pursuant to <u>Section 3</u>, and hereby authorizes each of them to represent and to: (a) vote, if and only if such Shareholder (i) fails to vote (whether by proxy, in person or by written resolution) (it being understood that failing to execute a written resolution within 48 hours of being requested shall constitute a failure to vote) or (ii) attempts to vote (whether by proxy, in person or by written resolution), in a manner which is inconsistent with the terms of this Agreement, all of such Shareholder's Shares in favour of the election or removal of persons as members of the Board determined pursuant to and in accordance with the terms and provisions of this Agreement or the approval of the Shareholder Action or approval of any Sale of the Company pursuant to and in accordance with the terms and provisions of <u>Sections 2</u> and <u>3</u>, respectively, or (b) take any action necessary to effect <u>Sections 2</u> and <u>3</u>, respectively. Each proxy and power of attorney granted pursuant to the immediately preceding sentence is given in consideration of the agreements and covenants of the Company and the Shareholders in connection with the transactions contemplated by this Agreement and, as such, each is coupled with an interest and shall be irrevocable unless and until this Agreement terminates or expires pursuant to <u>Section 5</u>. Each Shareholder hereby revokes any and all previous proxies or powers of attorney with respect to such Shareholder's Shares that conflict with the proxy and power of attorney granted pursuant to this <u>Section 4.2</u> and shall not hereafter, unless and until this Agreement terminates or expires pursuant to <u>Section 5</u>, purport to grant any other proxy or power of attorney with respect to any of such Shareholder's Shares, deposit any of such Shareholder's Shares into a voting trust or enter into any agreement (other than this Agreement), arrangement or understanding with any Person, directly or indirectly, to vote, grant any proxy or give instructions with respect to the voting of any of such Shareholder's Shares, in each case, with respect to any of the matters set forth herein.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Specific Enforcement</u>. Each party acknowledges and agrees that each party hereto will be irreparably damaged in the event that any of the provisions of this Agreement are not performed by the parties in accordance with their specific terms or are otherwise breached. Accordingly, it is agreed that each of the Company and the Shareholders shall be entitled to an injunction to prevent breaches of this Agreement, and to specific enforcement of this Agreement and its terms and provisions in any action instituted in any court in the Province of British Columbia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>Remedies Cumulative</u>. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Term</u>. This Agreement shall be effective as of the date hereof and shall continue in effect until and shall terminate, other than <u>Section 6.1</u>, upon the earliest to occur of (a) the consummation of the Company's first underwritten public offering of its Common Shares (other than a registration statement relating either to the sale of securities to employees of the Company pursuant to its share option, share purchase or similar plan or an SEC Rule 145 transaction); (b) the consummation of a Sale of the Company and distribution of proceeds to or in escrow for the benefit of the Shareholders in accordance with the Articles, provided that the provisions of <u>Section 3</u> will continue after the closing of any Sale of the Company to the extent necessary to enforce the provisions of <u>Section 3</u> with respect to such Sale of the Company; and (c) termination of this Agreement in accordance with <u>Section 6.12</u>. <u>Section 6.1</u> shall survive the termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <u>Confidentiality</u>. Each Shareholder shall keep confidential and will not disclose, divulge or use for any purpose (other than to monitor its ownership of the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement, the Shareholder Rights Agreement dated the date hereof between the Company and the Shareholders, as may be amended, restated or replaced from time to time (the "**Shareholder Rights Agreement**") and the Right of First Refusal and Co-Sale Agreement dated the date hereof between the Company and the Shareholders, as may be amended, restated or replaced from time to time (the "**Right of First Refusal and Co-Sale Agreement**"), including notice of the Company's intention to file a registration statement, unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this <u>Section 6.1</u> by such Shareholder), (b) is or has been independently developed or conceived by such Shareholder without use of the Company's confidential information, or (c) is or has been made known or disclosed to such Shareholder by a third party without a breach of any obligation of confidentiality such third party may have to the Company; provided, however, that a Shareholder may disclose confidential information (i) to its lawyers, accountants, consultants and other professionals to the extent necessary to obtain their services in connection with monitoring such Shareholder's investment in the Company; (ii) to any prospective purchaser of any shares in the capital of the Company from such Shareholder, if such prospective purchaser agrees to be bound by the provisions of this <u>Section 6.1</u>; (iii) to any existing or prospective Affiliate, Associate, partner, member, shareholder or wholly-owned subsidiary of such Shareholder in the ordinary course of business, provided that in each case of (i), (ii) or (iii), such Shareholder informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information; or (iv) as may otherwise be required by law, provided that such Shareholder promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <u>Additional Parties</u>. If, after the date of this Agreement, the Company enters into an agreement with any Person to issue Shares to such Person, then the Company shall cause such Person, as a condition precedent to entering into such agreement, to become a party to this Agreement by executing an adoption agreement substantially in the form attached hereto as Exhibit A, agreeing to be bound by and subject to the terms of this Agreement as a Shareholder and thereafter such Person shall be deemed a Shareholder for all purposes under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <u>Transfers</u>. Each transferee or assignee of any Shares subject to this Agree- ment shall continue to be subject to the terms hereof, and, as a condition precedent to the Com- pany's recognizing such transfer, each transferee or assignee shall agree in writing to be subject to each of the terms of this Agreement by executing and delivering an adoption agreement substantially in the form attached hereto as <u>Exhibit A</u>. Upon the execution and delivery of an adoption agreement by any transferee, such transferee shall be deemed to be a party hereto as if such transferee were the transferor and such transferee's signature appeared on the signature pages of this Agreement and shall be deemed to be a Shareholder. The Company shall not permit the transfer of the Shares subject to this Agreement on its books or issue a new certificate representing any such Shares unless and until such transferee shall have complied with the terms of this <u>Section 6.3</u>. Each certificate representing the Shares subject to this Agreement if issued on or after the date of this Agreement shall be endorsed by the Company with the legend set forth in <u>Section 6.16</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <u>Successors and Assigns</u>. The terms and conditions of this Agreement shall enure to the benefit of and be binding upon the parties and their respective heirs, attorneys, guardians, estate trustees, executors, trustees, successors (including any successor by reason of amalgamation of any party) and assigns. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <u>Governing Law</u>. This Agreement is a contract made under and shall be governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <u>Counterparts</u>. This Agreement may be executed in counterparts and by means of facsimile, portable document (PDF), electronic signature or other transmission method, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <u>Titles and Subtitles</u>. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 <u>No Strict Construction</u>. The language used in this Agreement is the language chosen by the parties to express their mutual intent, and no rule of strict construction shall be applied against any party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 <u>Including</u>. Where the word "including" or "includes" is used in this Agreement, it means "including (or includes) without limitation".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10 <u>Number and Gender</u>. Unless the context otherwise requires, words importing the singular include the plural and vice versa and words importing gender include all genders.<u>Notices</u>. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or: (a) personal delivery to the party to be notified, (b) when sent, if sent by email or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient's next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All communications shall be sent to the respective parties at their mailing address, email address or facsimile number as set forth in the corporate records of the Company, as the case may be, or to such mailing address, email address or facsimile number as subsequently modified by written notice given in accordance with this <u>Section 6.11</u>. If notice is given to the Company, it shall be sent to c/o Osler, Hoskin & Harcourt LLP, 1055 West Hastings Street, Suite 1700, Vancouver, British Columbia, V6E 2E9, Attn: Mark Godsy; email: magodsy@shaw.ca; and a copy (which shall not constitute notice) shall also be sent to Osler, Hoskin & Harcourt LLP, 1055 West Hastings Street, Suite 1700, Vancouver, British Columbia, V6E 2E0, Attn. Mark Longo, facsimile: (778) 785-2745; email: mlongo@osler.com.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12 <u>Consent Required to Amend, Terminate or Waive</u>. This Agreement may be amended or terminated and the observance of any term hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only by a written instrument executed by (a) the Company; and (b) the Supermajority Holders. Notwithstanding the foregoing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) this Agreement may not be amended or terminated and the obser- vance of any term of this Agreement may not be waived with respect to a particular Shareholder without the written consent of such Shareholder unless such amendment, termination or waiver applies to all Shareholders holding the same class or series, as the case may be, of Shares in the same fashion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the consent of a particular Shareholder shall not be required for any amendment or waiver if such amendment or waiver either (1) is not directly applicable to the unique rights of such Shareholder set forth in the Agreement or (2) does not adversely affect the rights of such Shareholder in a manner that is different than the effect on the rights of the other Shareholders holding the same class or series, as the case may be, of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Schedule A</u> hereto may be amended by the Company from time to time to add information regarding additional Shareholders or to reflect transfers or repurchases of Shares or changes to the names or addresses of the parties without the consent of the other parties hereto;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any provision hereof may be waived by the waiving party on such party's own behalf, without the consent of any other party; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the applicable subsection of <u>Section 1.2</u> shall not be amended or waived without the written consent of the applicable Shareholder.

The Company shall give prompt written notice of any amendment, termination or waiver here- under to any party that did not consent in writing thereto. Any amendment, termination or waiver effected in accordance with this <u>Section 6.12</u> shall be binding on each party and, as applicable, all of such party's heirs, attorneys, guardians, estate trustees, executors, trustees, successors (including any successor by reason of amalgamation of any party) and assigns, whether or not any such party, heir, attorney, guardian, estate trustee, executor, trustee, successor or assign entered into or approved such amendment, termination or waiver. For purposes of this <u>Section 6.12</u>, the requirement of a written instrument may be satisfied in the form of an action by written consent of the Shareholders circulated by the Company and executed by the Shareholder parties specified, whether or not such action by written consent makes explicit reference to 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;6.13 <u>Delays or Omissions</u>. No delay or omission to exercise any right, power or remedy accruing to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non- defaulting party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default previously or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14 <u>Severability</u>. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15 <u>Entire Agreement</u>. This Agreement (including any schedules and exhibits hereto), together with the Shareholder Rights Agreement and the Right of First Refusal and Co- Sale Agreement, constitute the full and entire understanding and agreement between the parties with respect to the subject matter hereof, and all other written or oral agreements relating to the subject matter hereof existing between the parties are expressly cancelled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.16 <u>Legend on Share Certificates</u>. Each certificate representing any Shares issued after the date hereof shall be endorsed by the Company with a legend reading substantially as follows:

"THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A VOTING AGREEMENT, AS MAY BE AMENDED FROM TIME TO TIME, (A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST FROM THE CORPORATION), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON ACCEPTING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF THAT VOTING AGREEMENT, INCLUDING CERTAIN RESTRICTIONS ON TRANSFER AND OWNERSHIP SET FORTH THEREIN."

The Company, by its execution of this Agreement, shall cause the certificates evidencing the Shares issued after the date hereof to bear the legend required by this <u>Section 6.16</u>, and it shall supply, free of charge, a copy of this Agreement to any holder of a certificate evidencing Shares upon written request from such holder to the Company at its principal office. The failure to cause the certificates evidencing the Shares to bear the legend required by this <u>Section 6.16</u> and/or the failure of the Company to supply, free of charge, a copy of this Agreement as provided hereunder shall not affect the validity or enforcement 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;6.17 <u>Share Splits, Share Dividends, etc.</u> In the event of any issuance of Shares hereafter to any of the Shareholders (including in connection with any share split, share dividend, recapitalization, reorganization, or the like), such Shares shall become subject to this Agreement and shall be endorsed with the legend set forth in <u>Section 6.16</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.18 <u>Manner of Voting</u>. The voting of Shares pursuant to this Agreement may be effected in person, by proxy, by written consent or in any other manner permitted by applica- ble law. For the avoidance of doubt, voting of the Shares pursuant to the Agreement need not make explicit reference to 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;6.19 <u>Further Assurances</u>. At any time or from time to time after the date hereof, the parties agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate the consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20 <u>Dispute Resolution</u>. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the courts of the Province of British Columbia for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the courts of the Province of British Columbia, and (c) hereby waive, and agree not to assert, by way of motion, as a defence, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.21 <u>Waiver of Jury Trial</u>. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE SECURITIES OR THE SUBJECT MATTER HEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.22 <u>Costs of Enforcement</u>. If any party to this Agreement seeks to enforce its rights under this Agreement by legal proceedings, the non-prevailing party shall pay all costs and expenses incurred by the prevailing party, including all reasonable legal fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.23 <u>Aggregation of Shares</u>. All Shares held or acquired by a Shareholder and its Affiliates and Associates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement, and such Shareholder and its Affiliates and Associates may apportion such rights as among themselves in any manner they deem appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.24 <u>Independent Legal Advice</u>. The parties acknowledge that they have entered into this Agreement willingly with full knowledge of the obligations imposed by the terms of this Agreement. The parties further acknowledge that they have been afforded the opportunity to obtain independent legal advice and confirm by the execution of this Agreement that they have either done so or waived their right to do so, and agree that this Agreement constitutes a binding legal obligation and that they are estopped from raising any claim on the basis that they have not obtained such advice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25 <u>Conflict with Constating Documents</u>. In the event of any conflict or inconsistency between the provisions of this Agreement and the certificate of incorporation, certificate of change of name, notice of articles, and articles of the Company, together with any amendments thereof from time to time (the "**Constating Documents**") the provisions of this Agreement shall prevail and govern to the extent permitted by law. The Shareholders agree that they shall promptly initiate all necessary proceeding, vote their respective Shares and take any such further action as is required by the Shareholders so as to cause the Constating Documents to be amended in order to resolve such conflict or inconsistency in favour of the provisions of this Agreement.

***[Signature pages follow]***

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**IN WITNESS WHEREOF**, the parties have executed this Voting Agreement as of the date first written above.

COMPANY:

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| | |
|:---|:---|
| **NAQI LOGIX INC.** | **NAQI LOGIX INC.** |
| By: |  |
|  | Name: Mark Godsy<br>Title: Chief Executive Officer |

---

*Naqi Logix - Voting Agreement*

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SHAREHOLDERS:

---

| | |
|:---|:---|
| [ • ] | [ • ] |
| By: |  |
|  | Name:<br>Title: |

---

*Naqi Logix - Voting Agreement*

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<u>**SCHEDULE A**</u>

**SHAREHOLDERS**

<u>**Name**</u>

[Intentionally omitted]

*Schedule A to the Voting Agreement*

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<u>**EXHIBIT A**</u>

**ADOPTION AGREEMENT**

**THIS ADOPTION AGREEMENT** (the "**Adoption Agreement**") is executed on _________, 20__, by the undersigned ("Holder") pursuant to the terms of that certain Voting Agreement dated as of April 12, 2021 (the "**Agreement**"), by and among Naqi Logix Inc. (the "**Company**") and its shareholders, as such Agreement may be amended and restated hereafter. Capitalized terms used but not defined in this Adoption Agreement shall have the respective meanings ascribed to such terms in the Agreement. By the execution of this Adoption Agreement, Holder agrees as follows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <u>Acknowledgement</u>. Holder acknowledges that Holder is acquiring certain shares in the capital of the Company (the "**Shares**"), for one of the following reasons (Check the correct box):

☐ as a transferee of Shares from a party in such party's capacity as a "Shareholder" bound by the Agreement, and after such transfer, Holder shall be considered a "Shareholder" for all purposes of the Agreement.

☐ in accordance with <u>Section 6.2</u> of the Agreement, in which case Holder will be a "Shareholder" for all purposes of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 <u>Agreement</u>. Holder hereby (a) agrees that the Shares, and any other shares in the capital of the Company required by the Agreement to be bound thereby, shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement with the same force and effect as if Holder were originally a party thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 <u>Notice</u>. Any notice required or permitted by the Agreement shall be given to Holder at the address or email address listed below Holder's signature hereto.

---

| | | |
|:---|:---|:---|
| **HOLDER: _________________________** |  | &nbsp;&nbsp;AGREED AND ACCEPTED: |
|  |  | &nbsp;&nbsp;**NAQI LOGIX INC.** |
| By: _______________________________ | By: |  |
| Name: _____________________________ |  |  |
| Name: _____________________________ |  | &nbsp;&nbsp;Name: _________________________ |
|  |  | &nbsp;&nbsp;Name: _________________________ |
| Title: ______________________________ |  | &nbsp;&nbsp;Title: __________________________ |
|  |  | &nbsp;&nbsp;Title: __________________________ |
| Address: ___________________________ |  | &nbsp;&nbsp;Email: _________________________ |
|  |  | &nbsp;&nbsp;Email: _________________________ |
| **___________________________________** |  |  |
| Email:_____________________________ |  |  |

---

*Exhibit A to the Voting Agreement*

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**EXHIBIT B**

**Adoption Agreement to the Voting Agreement**

**THIS ADOPTION AGREEMENT** (the "**Adoption Agreement**") is executed on NOW, by the undersigned ("**Holder**") pursuant to the terms of that certain Voting Agreement dated as of April 12, 2021 (the "**Agreement**"), by and among Naqi Logix Inc. (the "**Company**") and its shareholders, as such Agreement may be amended and restated hereafter. Capitalized terms used but not defined in this Adoption Agreement shall have the respective meanings ascribed to such terms in the Agreement. By the execution of this Adoption Agreement, Holder agrees as follows.

1.1 <u>Acknowledgement</u>. Holder acknowledges that Holder is acquiring certain shares in the capital of the Company (the "Shares"), for one of the following reasons (Check the correct box):

☐ as a transferee of Shares from a party in such party's capacity as a "Shareholder" bound by the Agreement, and after such transfer, Holder shall be considered a "Shareholder" for all purposes of the Agreement.

☒ in accordance with Section 6.2 of the Agreement, in which case Holder will be a "Shareholder" for all purposes of the Agreement.

1.2 <u>Agreement</u>. Holder hereby (a) agrees that the Shares, and any other shares in the capital of the Company required by the Agreement to be bound thereby, shall be bound by and subject to the terms of the Agreement and (b) adopts the Agreement with the same force and effect as if Holder were originally a party thereto.

1.3 <u>Notice</u>. Any notice required or permitted by the Agreement shall be given to Holder at the address or email address listed below Holder's signature hereto.

INVESTOR TITLE

INVESTOR SIGNATURES

VESTING AS

VESTING AS EMAIL

Agreed and Accepted: NAQI LOGIX INC.

By: ISSUER SIGNATURE

Email: <u>mgodsy@naqilogix.com</u>

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## Ex1A-8

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**TRI-PARTY ESCROW AGREEMENT**

This ESCROW AGREEMENT ("<u>Agreement</u>") is made and entered into as of March 31, 2026, by and among Naqi Logix, Inc, a British Columbia Corporation (the "<u>Company</u>"), and ENTERPRISE BANK & TRUST, a Missouri chartered trust company with banking powers (in its capacity as escrow holder, the "<u>Escrow Agent</u>").

<u>RECITALS</u>

This Agreement is being entered into in reference to the following facts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company intends to offer and sell a minimum to prospective investors ("Investors"), as disclosed in its offering materials, in a registered offering pursuant to the Securities Act of 1933, as amended, or exemption from registration (i.e. Regulation A+, CF, D or S) (the "<u>Offering</u>"), the equity, debt, or other securities of the Company (the "<u>Securities</u>") with no minimum (the "<u>Minimum</u>") and a maximum of $18,525,000.00 (Eighteen Million Five Hundred Twenty Five Thousand) (the "<u>Maximum</u>") as described in the Company's disclosure materials and the <u>Subscription Agreement</u> (as defined below) applicable to the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In connection with the Offering, the Company desires to establish an Escrow Account (as defined herein) on the terms and subject to the conditions set forth herein.

<u>ARTICLE 1</u><u> </u><u>-ESCROW FUNDS</u>

1.1 <u>Appointment of Escrow Agent</u>. The Company hereby appoints the Escrow Agent to act as escrow holder for the Escrow Funds (as defined below) under the terms of this Agreement. The Escrow Agent hereby accepts such appointment, subject to the terms, conditions, and limitations hereof.

1.2 <u>Establishment of Escrow</u>. Immediately following the Escrow Agent's execution of this Agreement, the Escrow Agent will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) open a non-interest bearing bank checking account with Escrow Agent (the "<u>Escrow Account</u>") for the purpose of receiving and holding the proceeds of the Offering (net of any fees and/or holdbacks, the "<u>Escrow Funds</u>"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Open a Stripe Connect account (the "<u>Connect Account"</u>) on the platform account of Novation Solutions Inc. O/A DealMaker for the purpose of processing potential payments by credit card, wire, and ACH debit (the "Payments").

1.3 <u>Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Investor will be instructed by the Company to pay a predetermined Payment as indicated on the applicable Subscription Agreement or DealMaker.tech-powered website hosted by the Company (the "Site"), in the form of a credit card, wire, or ACH payment payable to the order of "Enterprise Bank & Trust, as Escrow Agent for "Naqi Logix, Inc".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon the Company's review and acceptance of the Proposed Investments, the Payments shall be automatically released to the Escrow Account as Escrow Funds, subject to any payment processing fees and / or holdbacks.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Escrow Agent shall have no obligation to accept Escrow Funds or documents from any party other than the Investors or the Company. Any checks that are made payable to a party other than the Escrow Agent shall be returned to the party submitting the check, and if received by the Company shall not be remitted to the Escrow Agent. Proceeds in the form of wire or other electronic funds transfers are deemed deposited into the Escrow Account and considered "<u>Collected Funds</u>" when received by the Escrow Agent. Any Payments tendered in the form of a check, draft or similar instrument are deemed deposited when the collectability thereof has been confirmed; after such time, such Payments are considered "<u>Collected Funds</u>." The Escrow Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds deposited into the Escrow Account. Should any check be deemed uncollectible for any reason, the Escrow Agent will notify the Company of the amount of such return check, the name of the Investor, the reason for return, and return the check to the Investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Escrow Agent will hold all Escrow Funds in escrow, free from any liens, claims or offsets, and such monies shall not become the property of the Company, the Investor, nor shall such monies become subject to the debts thereof or the debts of the Escrow Agent, unless and until the conditions set forth in these instructions to disbursement of such monies have been fully satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Escrow Funds shall be disbursed by the Escrow Agent from the Escrow Account by wire transfer to the appropriate payee(s) in accordance with the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Escrow Agent shall not be required to take any action under this <u>Section 1.3</u> or any other section hereof until it has received proper written instruction from the Company. Such written instruction from the Company shall be signed by an Authorized Representative (as defined below) of the Company. Except as otherwise expressly contemplated herein, all parties hereby direct and instruct Escrow Agent to accept any payment or other instructions provided by the Company, and Escrow Agent shall have no duty or obligation to authenticate such payment or other instructions or the authorization thereof. The Escrow Agent shall not be required to release any funds that constitute Escrow Funds unless the funds represented thereby are Collected Funds.

1.4 <u>Investments</u>. All funds in the Escrow Account will be held by Escrow Agent in a non-interest bearing Checking Account at Escrow Agent. The Escrow Funds will not earn interest.

1.5 <u>Cancellation of Subscriptions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company may cancel any Investor's offer to purchase Securities (the "<u>Subscription</u>"), in whole or in part. If all or any portion of the Total Purchase Price for such rejected or canceled Subscription has been delivered to the Escrow Agent, and Company will either refund through the Connect Account or instruct Escrow Agent to refund some or all of the Escrow Funds from the Escrow Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All Subscriptions are irrevocable, and except as otherwise provided in the Investor's Subscription Agreement (the "<u>Subscription Agreement</u>"), no such Investor will have any right to cancel or rescind its Subscription, except as required under the law of any jurisdiction in which the Offering is made. In the event of conflicting claims to any Escrow Funds, Escrow Agent may elect to interplead the monies in accordance with <u>Section 3.6</u> of this Agreement.

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<u>ARTICLE 2</u><u> </u><u>-DISBURSEMENT PROCEDURES</u>

2.1 <u>Disbursement of Proceeds</u>. Escrow Agent shall hold and disburse the Escrow Funds in accordance with the following procedures:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the provisions of <u>Section 2.1(b)</u> through <u>Section 2.1(f)</u>, in the event Escrow Agent receives Collected Funds for the Minimum Offering prior to the termination of this Agreement, and for any point thereafter, and from time to time, promptly after the Escrow Agent's receipt of written instructions from the Company in the form of <u>Exhibit "A"</u> attached hereto, the Escrow Agent shall disburse by wire transfer the principal amount of all Escrow Funds then held by Escrow Agent, or such lesser amount as may be specified in such written instructions (but not less than the amount covered by Minimum Offering for the Initial Closing Date (as defined below)), in accordance with such written instructions. We refer to the date of the initial disbursement of proceeds under this Section 2.1(a) as the "<u>Initial Closing Date</u>". Escrow Funds shall be distributed within one (1) business day of the Escrow Agent's receipt of such written instructions, which must be received by the Escrow Agent no later than 1:00 p.m. Central Standard time on a business day for the Escrow Agent to process such instructions that business day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Escrow Agent shall continue to accept deposits of additional Payments until a date (the "<u>Final Closing Date</u>") which is the earlier of (i) the date on which the Escrow Agent receives written notification, signed by an Authorized Representative of the Company, that the Company has accepted Subscriptions for the Maximum Offering, or (ii) the date on which the Escrow Agent receives written notification, signed by an Authorized Representative of the Company, of the Company's determination of a final closing date for receipt of Escrow Funds. Promptly from and after the Final Closing Date, the Escrow Agent shall return directly to the Investor, the principal amount of any Escrow Funds received by the Escrow Agent after the Final Closing Date and shall cease to accept any additional Escrow Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Company gives written notice to the Escrow Agent of the termination or withdrawal of the Offering, in the form of <u>Exhibit "B"</u> attached hereto, then promptly after such notification, the Escrow Agent shall return, as a complete distribution, each Investor's Escrow Funds, without deduction, penalty, or expense to Investor to such Investor in the same method as the Investor caused payment pursuant to <u>Section 1.3(a)</u>; provided, however, that to the extent an Investor's Escrow Funds were received by Escrow Agent from a qualified intermediary, such funds shall be returned to such qualified intermediary. In the event of the termination of the Offering pursuant to this <u>Section 2.1(c)</u>, the Escrow Funds shall not under any circumstance be returned to the Company. The Company represents, warrants, and agrees that the Escrow Funds returned to each Investor (or to such Investor's qualified intermediary) are and shall be free and clear of any and all claims of the Company and its creditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If an Investor is entitled to terminate its Subscription, or the Company rejects such Subscription, for which the Escrow Agent has received Escrow Funds, the Escrow Agent shall, upon a written instruction signed by an Authorized Representative of the Company, promptly return directly to such Investor that portion of the Escrow Funds associated with of such Investor and specified in the written instruction. If the Escrow Agent has not yet collected funds but has submitted the Investor's check for collection, the Escrow Agent shall promptly return the funds in the amount of the Investor's payment to such Investor after such funds have been collected.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If any date that is a deadline under this Agreement for giving the Escrow Agent notice or instructions or for the Escrow Agent to take action is not a business day, then such date shall be the business day that immediately precedes such date. A "<u>business day</u>" is any day other than a Saturday, Sunday or any other day on which banking institutions located in the state of Missouri, are authorized or obligated by law or executive order to close.

<u>ARTICLE 3</u><u> </u><u>- GENERAL ESCROW PROCEDURES</u>

3.1 <u>Accounts and Records</u>. Escrow Agent shall keep accurate books and records of all transactions hereunder. The Company and Escrow Agent shall each have reasonable access to one another's books and records concerning the Offering and the Escrow Account. Upon final disbursement of the Escrow Funds, the Escrow Agent shall deliver to the Company a complete accounting of all transactions relating to the Escrow Account.

3.2 <u>Duties</u>. Escrow Agent's duties and obligations hereunder shall be determined solely by the express provisions of this Agreement. Escrow Agent's duties and obligations are purely ministerial in nature, and nothing in this Agreement shall be construed to give rise to any fiduciary obligations of the Escrow Agent with respect to the Investors or to the other parties to this Agreement. Without limiting the generality of the foregoing, the Escrow Agent is not charged with any duties or responsibilities with respect to any documentation associated with the Offering and shall not otherwise be concerned with the terms thereof. The Escrow Agent shall not be required to notify or obtain the consent, approval, authorization, or order of court or governmental body to perform its obligations under this Agreement, except as expressly provided herein. The parties agree that Escrow Agent shall not be required to expend or risk any of its own funds or otherwise incur any liability, financial or otherwise, in the performance of any of its duties hereunder.

3.3 <u>Liability Limited</u>. Escrow Agent shall not be liable to anyone whatsoever by any reason of error of judgment or for any act done or step taken or omitted by them in good faith or for any mistake of fact or law or for anything which they may do or refrain from doing in connection herewith unless caused by or arising out of their own gross negligence or willful misconduct. In no event shall the Escrow Agent be liable for any indirect, special, consequential damages, or punitive damages. Escrow Agent shall have no responsibility to ensure anyone's compliance with any securities laws in connection with the Offering, and Escrow Agent shall not be required to inquire as to the performance or observation of any obligation, term or condition under any other agreements or arrangements.

3.4 <u>Fees</u>. The Company shall pay the Escrow Agent the fees based on the fee schedules attached hereto as <u>Exhibits "C" and "D"</u>. In addition, the Company shall be obligated to reimburse the Escrow Agent for all fees, costs and expenses incurred or that become due in connection with this Agreement or the Escrow Account, including reasonable attorneys' fees. Neither the modification, cancellation, termination or rescission of this Agreement nor the resignation or termination of the Escrow Agent shall affect the right of the Escrow Agent to retain the amount of any fee which has been paid, or to be reimbursed or paid any amount which has been incurred or becomes due, prior to the effective date of any such modification, cancellation, termination, resignation or rescission. Escrow Agent is hereby authorized by the Company to deduct any fees not timely paid, and any unpaid fees before final distribution of the Escrow Fund, from the Escrow Fund. To the extent the Escrow Agent has incurred any such expenses, or any such fee becomes due, prior to any closing, the Escrow Agent shall advise the Company and the Company shall direct all such amounts to be paid directly at any such closing.

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3.5 <u>Exculpation</u>. Escrow Agent's duties hereunder shall be strictly limited to the safekeeping of monies, instruments or other documents received by the Escrow Agent and any further responsibilities expressly provided in this Agreement. The Escrow Agent will not be liable for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the genuineness, sufficiency, correctness as to form, manner or execution or validity of any instrument deposited in the Escrow, nor the identity, authority or rights of any person executing the same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any misrepresentation or omission in any documentation associated with the Offering or any failure to keep or comply with any of the provisions of any agreement, contract, or other instrument referred to therein; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the failure of the Investor to transmit, or any delay in transmitting, any Investor's Total Purchase Price to the Escrow Agent.

3.6 <u>Interpleader</u>. If (i) conflicting demands are made or notice served upon the Escrow Agent with respect to the escrow or (ii) the Escrow Agent is otherwise uncertain as to its duties or rights hereunder, then the Escrow Agent shall have the absolute right at its election to do either or both of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) withhold and stop all further proceedings in, and performance of, this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) file a suit in interpleader and obtain an order from the court requiring the parties to litigate their several claims and rights among themselves. In the event such interpleader suit is brought, the Escrow Agent shall be fully released from any obligation to perform any further duties imposed upon it hereunder, and the Company shall pay the Escrow Agent actual costs, expenses and reasonable attorney's fees expended or incurred by Escrow Agent, the amount thereof to be fixed and a judgment thereof to be rendered by the court in such suit.

3.7 <u>Indemnification and Contribution</u>. The Company (each, an "<u>Indemnifying Party</u>") jointly and severally agree to defend, indemnify and hold Escrow Agent and its affiliates and their respective directors, officers, agents ("<u>Indemnified Parties</u>") harmless from and against all costs, damages, judgments, attorneys' fees, expenses, obligations and liabilities of any kind or nature ("<u>Damages</u>") to the fullest extent permitted by law, from and against any Damages or liabilities related to or arising out of this Agreement which the Indemnified Parties may reasonably incur or sustain in connection with or arising out of the escrow or this Agreement and will reimburse the Indemnified Parties for all expenses (including attorneys' fees) as they are incurred by the Indemnified Parties in connection with investigating, preparing or defending any such action or claim whether or not in connection with pending or threatened litigation in which the Indemnified Parties is or are a party; <u>provided</u>, however, the Indemnifying Party will not be responsible for Damages or expenses which are finally judicially determined to have resulted from an Indemnified Party's gross negligence or willful misconduct. The provisions of this section shall survive the termination of this Agreement and any resignation of the Escrow Agent.

3.8 <u>Compliance with Orders</u>. If at any time Escrow Agent is served with any judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process which in any way affects the Escrow Funds (including but not limited to orders of attachment or any other forms of levies or injunctions or stays relating to the transfer of the Escrow Funds), Escrow Agent is authorized to comply therewith in any manner as it or its legal counsel of its own choosing deems appropriate; and if Escrow Agent complies with any such judicial or administrative order, judgment, decree, writ or other form of judicial or administrative process, Escrow Agent shall not be liable to any of the parties hereto or to any other person or entity even though such order, judgment, decree, writ or process may be subsequently modified or vacated or otherwise determined to have been without legal force or effect.

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3.9 <u>Resignation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Escrow Agent may resign as escrow holder hereunder upon fourteen (14) days prior written notice to the Company and shall thereupon be fully released from any obligation to perform any further duties imposed upon it hereunder. Company shall promptly appoint a successor escrow agent. The Escrow Agent will transfer all files and records relating to the Escrow and Escrow Account to any successor escrow holder mutually agreed to in writing by Company upon receipt of a copy of the executed escrow instructions designating such successor. If Company fails to appoint a successor escrow agent prior to the expiration of fourteen (14) calendar days following the delivery of such notice of resignation from Escrow Agent, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow agent or for other appropriate relief, and any such resulting appointment shall be binding upon the Company. Company shall be jointly and severally liable for Escrow Agent's costs and expenses including attorneys incurred in such proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the case of a resignation of the Escrow Agent, the Escrow Agent shall have no responsibility for the appointment of a successor escrow agent hereunder. The successor escrow agent appointed by Company shall execute, acknowledge and deliver to the Escrow Agent and the other parties an instrument in writing accepting its appointment hereunder. Thereafter, the Escrow Agent shall deliver all of the then-remaining balance of the Escrow Funds, less any expenses then incurred by and unpaid to the Escrow Agent, to such successor escrow agent in accordance with the joint written direction of Company and upon receipt of the Escrow Funds, the successor escrow agent shall be bound by all of the provisions of this Agreement.

3.10 <u>Filings and Resolution</u>. Concurrently or prior to the execution and delivery of this Agreement, the Company shall deliver to the Escrow Agent a copy of its certificate of formation or other charter documents.

3.11 <u>Authorized Representatives</u>. The Company hereby identifies to Escrow Agent the officers, employees or agents designated on Schedule I attached hereto as an authorized representative (each, an "<u>Authorized Representative</u>") with respect to any notice, certificate, instrument, demand, request, direction, instruction, waiver, receipt, consent or other document or communication required or permitted to be furnished to Escrow Agent. Schedule I may be amended and updated by written notice to Escrow Agent. Escrow Agent shall be entitled to rely on such original or amended Schedule I with respect to any party until a new Schedule I is furnished by such party to Escrow Agent.

3.12 <u>Term</u>. The term of this Agreement shall commence as of the date first above written and shall end on the date that all funds in the Escrow Account are disbursed pursuant to this Agreement and all reporting obligations specified herein have been satisfied.

3.13 <u>Identification Number</u>. The Company represents and warrants that (a) its Federal tax identification number ("TIN") specified on the signature page of this Agreement underneath its signature is correct and is to be used for 1099 tax reporting purposes, and (b) it is not subject to backup withholding. The Company shall provide the Escrow Agent with the TIN and verification that the person or entity is not subject to backup withholding for any person or entity to whom interest is paid on any of the Proceeds, if applicable. Such verification may be evidenced by providing the Escrow Agent a Subscription Agreement containing appropriate language or a copy of a W-9.

------

3.14 <u>Reliance</u>. When Escrow Agent acts on any communication (including, but not limited to, communication with respect to the transfer of funds) sent by electronic transmission, Escrow Agent, absent gross negligence or willful misconduct, shall not be responsible or liable in the event such communication is not an authorized or authentic communication of the party involved or is not in the form the party involved sent or intended to send (whether due to fraud, distortion or otherwise). Escrow Agent shall not be liable for any losses, costs or expenses arising directly or indirectly from Escrow Agent's reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic transmission to submit instructions and directions to Escrow Agent, including without limitation the risk of Escrow Agent acting on unauthorized instructions, and the risk or interception and misuse by third parties.

3.15 <u>Force Majeure</u>. Escrow Agent shall not incur liability for not performing any act or not fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of Escrow Agent (including but not limited to any act or provision of any present or future law or regulation or governmental authority, pandemic or public health emergency, any act of God or war, terrorism or the unavailability of the Federal Reserve Bank or other wire or communication facility).

<u>ARTICLE 4</u><u> </u><u>- GENERAL PROVISIONS</u>

4.1 <u>Notice</u>. Any notice, request, demand or other communication provided for hereunder to be given shall be in writing and shall be delivered personally, by certified mail, return receipt requested, postage prepaid, or by transmission by a telecommunications device (including email), and shall be effective (a) on the day when personally served, including delivery by overnight mail and courier service, (b) on the third business day after its deposit in the United States mail, and (c) on the business day of confirmed transmission by telecommunications device (including email). The addresses of the parties hereto (until notice of a change thereof is served as provided in this <u>Section 4.1</u>) shall be as follows:

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| | |
|:---|:---|
| To the Escrow Agent:<br>Enterprise Bank & Trust<br>Attn: Specialized Deposit Services, Escrow<br>1281 N. Warson<br>St. Louis, Missouri 63132<br><u>specializeddepositservices@enterprisebank.com</u><br>with a copy to: Legal Department via email <br>legaltracking@enterprisebank.com | To the Company:<br>Naqi Logix, Inc<br>1000-335 Burrard Street<br>Vancouver, British Columbia<br>Attn: Mark Godsy<br>604-803-4940<br><u>magodsy@shaw.ca</u><br>|

---

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4.2 <u>Amendments</u>. Except as otherwise permitted herein, this Agreement may be modified only by a written amendment signed by the parties hereto, and no waiver of any provision hereof will be effective unless expressed in a writing signed by the parties hereto.

4.3 <u>Wiring Instructions</u>. In the event fund transfer instructions are given, such instructions must be communicated to Escrow Agent in writing delivered pursuant to <u>Section 4.1</u>. Escrow Agent shall seek confirmation of such instructions by telephone call-back to an Authorized Representative (in the case of the Company) or other authorized person, and Escrow Agent may rely upon the confirmations of anyone purporting to be the Authorized Representative or other authorized person so designated. Escrow Agent and the beneficiary's bank in any funds transfer may rely solely upon any account numbers or similar identifying numbers provided by the Company to identify (i) the beneficiary, (ii) the beneficiary's bank, or (iii) an intermediary bank. Escrow Agent may apply any of the Escrow Funds for any payment order it executes using any such identifying number, even when its use may result in a person other than the beneficiary being paid, or the transfer of funds to a bank other than the beneficiary's bank or an intermediary bank designated. The parties to this Agreement acknowledge that such security procedure is commercially reasonable.

4.4 <u>Notifications</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) . The Escrow Agent may, but need not, honor and follow instructions, amendments or other orders ("orders") which shall be provided by telephone facsimile transmission ("faxed") to the Escrow Agent in connection with this Agreement and may act thereon without further inquiry and regardless of whom or by what means the actual or purported signature of the Company may have been affixed thereto if such signature in Escrow Agent's sole judgment resembles the signature of the Company. The Company indemnifies and holds the Escrow Agent free and harmless from any and all liability, suits, claims or causes of action which may arise from loss or claim of loss resulting from any forged, improper, wrongful or unauthorized faxed order. The Company shall pay all actual attorney fees and costs reasonably incurred by the Escrow Agent (or allocable to its in-house counsel), in connection with said claim(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Furthermore, all parties hereby agree that all current and future notices, confirmations and other communications regarding this Agreement specifically, and future communications in general between the parties, may be made by email, sent to the email address of record as set forth above or, solely with regards to business in the normal course, as otherwise from time to time changed or updated, directly by the party changing such information, without necessity of confirmation of receipt, delivery or reading, and such form of electronic communication is sufficient for all matters regarding the relationship between the parties. If any such electronically-sent communication fails to be received for any reason, including but not limited to such communications being diverted to the recipients' spam filters by the recipients email service provider or technology, or due to a recipients' change of address, or due to technology issues by the recipients' service provider, the parties agree that the burden of such failure to receive is on the recipient and not the sender, and that the sender is under no obligation to resend communications via any other means, including but not limited to postal service or overnight courier, and that such communications shall for all purposes, including legal and regulatory, be deemed to have been delivered and received.

------

4.5 <u>Assignment</u>. Except as permitted in this <u>Section 4.5</u>, neither this Agreement nor any rights or obligations hereunder may be assigned by any party hereto without the express written consent of each of the other parties hereto. This Agreement shall inure to and be binding upon the parties hereto and their respective successors, heirs and permitted assigns. Any corporation into which Escrow Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which Escrow Agent will be a party, or any corporation succeeding to all or substantially all the business of Escrow Agent will be the successor of Escrow Agent hereunder without the execution or filing of any paper with any party hereto or any further act on the part of any of the parties hereto except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding.

4.6 <u>USA</u> <u>PATRIOT</u> <u>Act</u>. The Company shall provide to Escrow Agent such information as Escrow Agent may reasonably require to permit Escrow Agent to comply with its obligations under the federal USA PATRIOT Act (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001). Escrow Agent shall not make any payment of all or a portion of the Escrow Fund, to any person unless and until such person has provided to Escrow Agent such documents as Escrow Agent may require to permit Escrow Agent to comply with its obligations under such Act. Further, Company represents and warrants to Escrow Agent that it is not a hedge fund. If Company is a hedge fund that is not sponsored by a registered investment advisor, the Company agrees to enter into the form of Due Diligence Agreement provided by Escrow Agent.

4.7 <u>Termination</u>. This Agreement shall terminate when all the Escrow Funds have been disbursed or returned in accordance with the provisions of this Agreement.

4.8 <u>Time of Essence</u>. Time is of the essence of these and all additional or changed instructions.

4.9 <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which so executed shall, irrespective of the date of its execution and delivery, be deemed an original, and said counterparts together shall constitute one and the same instrument.

4.10 <u>Governing Law and Jurisdiction</u>. This Agreement shall be governed by, and shall be construed according to, the laws of the State of Missouri. The parties hereby irrevocably submit to the exclusive jurisdiction of the state courts of St. Louis County, Missouri or, if proper subject matter jurisdiction exists, the United States District Court for the Eastern District of Missouri, in any action or proceeding arising out of or relating to this Agreement. Each party hereto further irrevocably consents to the service of any complaint, summons, notice or other process relating to any such action or proceeding by delivery thereof to it by hand or by registered or certified mail, return receipt requested, in the manner provided for herein. Each party hereto hereby expressly and irrevocably waives any claim or defense in any such action or proceeding based on improper venue or *forum non conveniens* or any similar basis.

4.11 <u>Waiver of Jury Trial</u>. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, EACH PARTY HEREBY EXPRESSLY, INTENTIONALLY, AND DELIBERATELY WAIVES, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING IN WHOLE OR IN PART UNDER, RELATED TO, BASED ON OR IN CONNECTION WITH THIS AGREEMENT OR THE SUBJECT MATTER HEREOF, WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER SOUNDING IN TORT OR CONTRACT OR OTHERWISE (EACH, A "CLAIM"). ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 4.11 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. In the event that the waiver of jury trial set forth in the previous sentence is not enforceable under the law applicable to this Agreement, the parties to this Agreement agree that any Claim, including any question of law or fact relating thereto, shall, at the written request of any party, be determined by judicial reference pursuant to Missouri law. The parties shall select a single neutral referee, who shall be a retired state or federal judge. In the event that the parties cannot agree upon a referee, the court shall appoint the referee. The referee shall report a statement of decision to the court. Nothing in this paragraph shall limit the right of any party at any time to exercise self-help remedies, foreclose against collateral or obtain provisional remedies. The parties shall bear the fees and expenses of the referee equally, unless the referee orders otherwise. The referee shall also determine all issues relating to the applicability, interpretation, and enforceability of this paragraph. The parties acknowledge that if a referee is selected to determine the Claims, then the Claims will not be decided by a jury.

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4.12 <u>Use of Name</u>. The Company will not make any reference to Enterprise Bank & Trust in connection with the Offering except with respect to its role as Escrow Agent hereunder, and in no event will the Company state or imply the Escrow Agent has investigated or endorsed the Offering in any manner whatsoever.

[SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, the parties have executed this Agreement pursuant to due authority as of the date set forth above.

**Company:**

Naqi Logix, Inc,

_________________________

By: Mark Godsy

Its: CEO

Tax ID: 98-1620944

**Escrow Agent:** 

Enterprise Bank & Trust<br>

By: _______________________________

Name: Scott Armstrong

Its: SVP Director of Specialty Deposits

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**EXHIBIT A**

**DISBURSEMENT NOTICE**

**DISBURSEMENT OF OFFERING PROCEEDS**

To the Escrow Agent:

Enterprise Bank & Trust, Escrow

Attn: Specialized Deposit Services

1281 N. Warson

St. Louis, Missouri 63132<br>

[DATE]

Re: Escrow Account No. NK-20944

Dear Escrow Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Reference is made to that certain Escrow Agreement dated as of March 31, 2026 (the "<u>Escrow Agreement</u>") by and among Naqi Logix, Inc, a British Colombia Corporation (the "<u>Company</u>"), and ENTERPRISE BANK & TRUST (in its capacity as escrow holder, the "<u>Escrow Agent</u>"). All terms used but not defined herein shall have the respective meanings given such terms in the Escrow Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Company hereby certifies that the Company has received and accepted subscriptions with gross proceeds of at least $100,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. You are hereby directed to disburse Escrow Funds in the amount of $_____________ to the Company as follows: ________________________________________________

[SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, the undersigned has executed this statement as of the date first hereinabove set forth.<br>

**Company:**

Naqi Logix, Inc,

_________________________

By: Mark Godsy

Its: CEO

Tax ID: 98-1620944

**Escrow Agent:** 

Enterprise Bank & Trust<br>

By: ________________________

Name: Scott Armstrong

Its: SVP Director of Specialty Deposits

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**EXHIBIT B**

**DISBURSEMENT NOTICE TERMINATION**

To the Escrow Agent:

Enterprise Bank & Trust

Attn: Specialized Deposit Services, Escrow

1281 N. Warson

St. Louis, Missouri 63132

[DATE]

Re: Escrow Account No. NL-20944

Dear Escrow Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Reference is made to that certain Escrow Agreement dated as of March 31, 2026 (the "<u>Escrow Agreement</u>") by and among Naqi Logix, Inc, a British Columbia Corporation and ENTERPRISE BANK & TRUST (in its capacity as escrow holder, the "<u>Escrow Agent</u>"). All terms used but not defined herein shall have the respective meanings given such terms in the Escrow Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Company has terminated the Offering prior to the disbursement of offering proceeds pursuant to Section 2.1(d) of the Escrow Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. You are hereby directed to disburse the Escrow Funds to the subscribers in accordance with Section 2.1(c) of the Escrow Agreement.

[SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, the undersigned has executed this statement as of the date first hereinabove set forth.

**Company:**

Naqi Logix, Inc,

_________________________

By: Mark Godsy

Its: CEO

Tax ID: 98-1620944

**Escrow Agent:** 

Enterprise Bank & Trust

By: ________________________

Name: Scott Armstrong

Its: SVP Director of Specialty Deposits

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**EXHIBIT C**

**ESCROW AGENT SCHEDULE OF FEES**

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| | |
|:---|:---|
| Escrow Account Servicing Fee (1 Time): | $1000.00 |
| Tax Reporting: | $10.00/per 1099 filing |

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[NTD: ANY WAIVER OR MODIFICATION OF THESE FEES REQUIRES PRIOR APPROVAL]

NOTE: All other standard bank fees apply. Please see current fee schedule for a summary of all bank fees.

**The Escrow Account Servicing Fee, if not paid at the time of final disbursement of the funds, may debited by Escrow Agent from the balance remaining in the Escrow Account upon final disbursement of the funds.** 

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**SCHEDULE I**

**ESCROW ACCOUNT SIGNING AUTHORITY**

**Authorized Representative(s) of Company**

The undersigned certifies that each of the individuals listed below is an authorized representative of the Company with respect to any instruction or other action to be taken in connection with the Escrow Agreement and Enterprise Bank & Trust shall be entitled to rely on such list until a new list is furnished to Enterprise Bank & Trust.

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| | |
|:---|:---|
| Signature: _____________________________<br> Print Name: ___________________________<br> Title: ________________________________<br> Phone: _______________________________<br> Email: _______________________________ | Signature: _____________________________<br> Print Name: ___________________________<br> Title: ________________________________<br> Phone: _______________________________<br> Email: _______________________________ |

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The undersigned further certifies that he or she is duly authorized to sign this Escrow Account Signing Authority.

Signature: _________________________ \*\*

Name: [_________]

Its: [_________]

Date: [_________]

\*\*To be signed by corporate secretary/assistant secretary. When the secretary is among those authorized above, the president must sign in the additional signature space provided below. For entities other than corporations, an authorized signatory not signing above should sign this Escrow Account Signing Authority.

(Additional signature, if required)

Signature: _________________________

Name:

Its:

Date:

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## Ex1A-11

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| | |
|:---|:---|
| ![](exhibit11-1xu001.jpg) | ![](exhibit11-1xu002.jpg) |

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**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the use in this Offering Circular of Naqi Logix Inc. (the "Company") on Form 1-A of our report to the shareholders of Naqi Logix Inc. (the "Company") on the consolidated statements of financial position of the Company as at June 30, 2025 and June 30, 2024, and the consolidated statements of net loss and comprehensive loss, changes in (deficiency) equity and cash flows for each of the years in the two-year period ended June 30, 2025, and a summary of Material Accounting policies and other explanatory information in the Offering Circular of the Company dated March 31, 2026 relating to the issue and sale of up to 5,747,126 common shares and up to 1,149,425 bonus shares of the Company. Our report is dated March 19, 2026. Our report contains an explanatory paragraph regarding the Company's ability to continue as a going concern.<br>

![](exhibit11-1xu003.jpg)

**DMCL LLP**

CHARTERED PROFESSIONAL ACCOUNTANTS

Vancouver, Canada

March 31, 2026

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## Ex1A-11

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![](exhibit11-2xu001.jpg)

**Consent of Independent Auditors**

We consent to the inclusion in this Offering Circular of WISEAR Company (the "Company") on Form 1-A Post Qualification Amendment of our report dated November 25, 2025, with respect to our audit of the financial statements of the Company as of December 31, 2024 and 2023 and for the years ended December 31, 2024, which report appears in this Offering Circular. Our report contains an explanatory paragraph regarding the Company's ability to continue as a going concern.

**AKELYS**

**François LAMY**

Paris, France

March 31, 2026

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## Ex1A-12

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| | | |
|:---|:---|:---|
|  | **Osler, Hoskin & Harcourt LLP**<br> Suite 3000, Bentall Four<br>1055 Dunsmuir Street<br>Vancouver, British Columbia, Canada V7X 1K8<br>778.785.3000 MAIN<br> 778.785.2745 FASCIMILE | ![](exhibit12-1xu002.jpg) |
| ![](exhibit12-1xu001.jpg) | March 31, 2026<br> **Naqi Logix Inc.**<br>1000-355 Burrard Street<br>Vancouver, BC<br>V6E 2K3<br>CanadaDear Sirs/Mesdames:<br> **Re:** <u>**Naqi Logix Inc.**</u><br> We have acted as Canadian counsel to Naqi Logix Inc. (the "**Corporation**"), a corporation governed by the Business Corporations Act (British Columbia), in connection with the offering circular on Form 1-A filed by the Corporation on February 26, 2025, as amended (the "**Offering Statement**"), with the U.S. Securities and Exchange Commission (the "**SEC**") pursuant to Regulation A under the Securities Act of 1933, as amended (the "**Securities Act**"), for the offering and sale by the Corporation of up to 6,896,551 voting common shares in the capital of the Corporation (the "**Securities**").<br> We have examined the Offering Statement and all such corporate and public records, statutes and regulations and have made such investigations and have reviewed such other documents as we have deemed relevant and necessary and have considered such questions of law as we have considered relevant and necessary in order to give the opinion hereinafter set forth. As to various questions of fact material to such opinion which were not independently established, we have relied upon a certificate of an officer of the Corporation.<br> We are qualified to practice law in the Province of British Columbia and this opinion is rendered solely with respect to the Province of British Columbia and the federal laws of Canada applicable in the Province of British Columbia.<br> For the purposes of the opinions set forth below, we have assumed without independent investigation or verification by us that:<br> (a) the Offering Statement and any amendments or supplements thereto (including post-effective amendments) will have been qualified by the order of the SEC and such qualification shall not have been terminated or rescinded;<br> (b) the Securities will have the terms described in and will otherwise be issued as described in the Offering Statement;<br> (c) all Securities will be issued and sold in compliance with applicable U.S. federal and state securities laws and in the manner specified in the Offering Statement; | March 31, 2026<br> **Naqi Logix Inc.**<br>1000-355 Burrard Street<br>Vancouver, BC<br>V6E 2K3<br>CanadaDear Sirs/Mesdames:<br> **Re:** <u>**Naqi Logix Inc.**</u><br> We have acted as Canadian counsel to Naqi Logix Inc. (the "**Corporation**"), a corporation governed by the Business Corporations Act (British Columbia), in connection with the offering circular on Form 1-A filed by the Corporation on February 26, 2025, as amended (the "**Offering Statement**"), with the U.S. Securities and Exchange Commission (the "**SEC**") pursuant to Regulation A under the Securities Act of 1933, as amended (the "**Securities Act**"), for the offering and sale by the Corporation of up to 6,896,551 voting common shares in the capital of the Corporation (the "**Securities**").<br> We have examined the Offering Statement and all such corporate and public records, statutes and regulations and have made such investigations and have reviewed such other documents as we have deemed relevant and necessary and have considered such questions of law as we have considered relevant and necessary in order to give the opinion hereinafter set forth. As to various questions of fact material to such opinion which were not independently established, we have relied upon a certificate of an officer of the Corporation.<br> We are qualified to practice law in the Province of British Columbia and this opinion is rendered solely with respect to the Province of British Columbia and the federal laws of Canada applicable in the Province of British Columbia.<br> For the purposes of the opinions set forth below, we have assumed without independent investigation or verification by us that:<br> (a) the Offering Statement and any amendments or supplements thereto (including post-effective amendments) will have been qualified by the order of the SEC and such qualification shall not have been terminated or rescinded;<br> (b) the Securities will have the terms described in and will otherwise be issued as described in the Offering Statement;<br> (c) all Securities will be issued and sold in compliance with applicable U.S. federal and state securities laws and in the manner specified in the Offering Statement; |

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![](exhibit12-1xu003.jpg)

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| |
|:---|
| ![](exhibit12-1xu002.jpg) |
| Page 2 |
| (d) there shall not have occurred any change in law affecting the validity of such Securities; and<br> (e) neither the issuance and delivery of such Securities nor the compliance by the Corporation with the terms of such Securities will violate any applicable law or regulation or will result in a violation of any provision of any instrument or agreement then binding upon the Corporation, or any restriction imposed by any court or governmental body having jurisdiction over the Corporation.<br> We have also assumed (a) the legal capacity of all individuals, the genuineness of all signatures, the veracity of the information contained therein, the authenticity of all documents submitted to us as originals and the conformity to authentic or original documents of all documents submitted to us as certified, conformed, electronic, photostatic or facsimile copies, and (b) the completeness, truth and accuracy of all facts set forth in the official public records, certificates and documents supplied by public officials or otherwise conveyed to us by public officials.<br> On the basis of the foregoing and subject to the qualifications hereinafter expressed, we are of the opinion that when issued and sold in accordance with the terms and conditions contemplated by and upon the terms and conditions set forth in the Offering Statement and that certain subscription agreement, a form which is included in the Offering Statement as Exhibit 4.1, and upon receipt by the Corporation of the agreed upon consideration therefore, the Securities will be validly issued, fully paid and non-assessable.<br> We hereby consent to the filing of this opinion letter as an exhibit to the Offering Statement and to the use of our name wherever it appears in the Offering Statement and the offering circular contained therein. In giving this consent, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act.<br> Yours very truly,<br>(signed) "*Osler, Hoskin & Harcourt LLP*"<br>Osler, Hoskin & Harcourt LLP |

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### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 1-A

### REGULATION A OFFERING STATEMENT
### UNDER THE SECURITIES ACT OF 1933

### Item 1. Issuer Information

**Exact name of issuer:** Naqi Logix Inc.

**Jurisdiction of Incorporation/Organization:** A1

**Year of Incorporation:** 2020

**CIK:** 0001902337

**I.R.S. Employer Identification Number:** 00-0000000

**Primary Standard Industrial Classification Code:** 3600

**Total number of full-time employees:** 10

**Total number of part-time employees:** 0

**Address of Principal Executive Offices:** 100 PARK ROYAL, SUITE 200, —, WEST VANCOUVER, A1 V7T 1A2

**Company Phone:** 1-888-627-4564

**Person to contact:** MARK GODSEY

### Financial Statements

**Balance Sheet Information**

| Metric                                   | Amount       |
|:---|:---|
| Cash and Cash Equivalents                | $33374.00    |
| Investment Securities                    | $0.00        |
| Accounts and Notes Receivable            | $185637.00   |
| Property, Plant and Equipment (PP&E)     | $555346.00   |
| Total Assets                             | $774357.00   |
| Accounts Payable and Accrued Liabilities | $3191753.00  |
| Long-Term Debt                           | $0.00        |
| Total Liabilities                        | $3191753.00  |
| Total Stockholders' Equity               | $-2417396.00 |
| Total Liabilities and Equity             | $774357.00   |

**Statement of Comprehensive Income Information**

| Metric                                    | Amount       |
|:---|:---|
| Total Revenues                            | $0.00        |
| Costs and Expenses Applicable to Revenues | $0.00        |
| Depreciation and Amortization             | $35074.00    |
| Net Income                                | $-7620878.00 |
| Earnings Per Share - Basic                | -0.16        |
| Earnings Per Share - Diluted              | -0.16        |

**Auditor Information**

| Metric          | Amount   |
|:---|:---|
| Name of Auditor | DMCL LLP |

### Outstanding Securities

| Class   |   Outstanding | CUSIP     | Publicly Traded   |
|:---|---:|:---|:---|
| N/A     |      52599804 | 000000000 | N/A               |
|  |             0 |  |  |
|  |             0 |  |  |

### Item 2. Issuer Eligibility
- [x] The issuer certifies that all of the statements in this part are true.

### Item 3. Application of Rule 262
- [x] The issuer certifies that it is not disqualified and has not been involved in any disqualifying event.

### Item 4. Summary Information Regarding the Offering

**Tier:** Tier2

**Financial Statement Status:** Audited

**Type of Securities Offered:** Equity (common or preferred stock)

**Is this a delayed or continuous offering?** Yes

**Was or is the offering to take place within one year after qualification?** Yes

**Was or is the offering to commence within two days after qualification?** No

**Is this a best efforts offering?** Yes

**Was there any solicitation of interest?** No

**Are there any resale securities by affiliates of the issuer?** No

**Offering Amounts**

| Description                                                     | Amount       |
|:---|:---|
| Number of securities offered                                    | 6896551      |
| Number of securities outstanding                                | 52559804     |
| Price per security                                              | $2.61        |
| Issuer's aggregate offering price                               | $18525000.00 |
| Aggregate offering price of securities held by security holders | $0.00        |
| Aggregate price of securities offered concurrently              | $0.00        |
| Total aggregate offering price                                  | $18525000.00 |

**Anticipated Fees**

| Service Provider   | Name                                    | Fees      |
|:---|:---|:---|
| Auditor            | DMCL LLP                                | $45000.00 |
| Legal              | Nauth LPC, Osler, Hoskin & Harcourt LLP | $60000.00 |
| Promoters          |  |  |

**Estimated Net Proceeds to the Issuer:** $13287000.00

### Item 5. Jurisdictions in Which Securities are to be Offered

AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

### Item 6. Unregistered Securities Issued or Sold Within One Year

**Name of Such Issuer:** Naqi Logix Inc.

**Title of Securities Issued:** Voting and Non-voting Common Shares

**Total Amount of Securities Issued:** 52559804

**Amount of such securities sold by principal security holders:** 0

**Aggregate consideration:** USD$427,952 (188,750 shares issued at $2.27) USD$9,728,772 (4,053,654 shares issued at a value of $2.40)

**Basis for aggregate consideration:** —

**Securities Act Exemption:** section 4(a)(2) of the 1933 Act.