# EDGAR Filing Document

**Accession Number:** 0001886444
**File Stem:** 0001493152-23-001409
**Filing Date:** 2023-1
**Character Count:** 1318541
**Document Hash:** bdb3fda3c0343b44f27d6e958c20b73c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-001409.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001493152-23-001409

**CONFORMED SUBMISSION TYPE**: S-1

**PUBLIC DOCUMENT COUNT**: 46

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RVELOCITY, INC.
- **CENTRAL INDEX KEY:** 0001886444
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-AUTO RENTAL & LEASING (NO DRIVERS) [7510]
- **IRS NUMBER:** 473952203
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** S-1
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269216
- **FILM NUMBER:** 23528538

**BUSINESS ADDRESS:**
- **STREET 1:** 4848 NORTH 36TH STREET
- **STREET 2:** UNIT 22
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85018
- **BUSINESS PHONE:** 602-909-8944

**MAIL ADDRESS:**
- **STREET 1:** 4848 NORTH 36TH STREET
- **STREET 2:** UNIT 22
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85018

**As filed with the Securities and Exchange Commission on January 13, 2023.**

**Registration Statement No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM S-1**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

 ****

**RVeloCITY, Inc.**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **7372** | 47-3952203 |
| (State or other jurisdiction of<br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification Number) |

---

**2801 E. Camelback Road, Suite 200**

**Phoenix, Arizona 85016**

**1-888-399-9505**

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

**Paul Kacir**

**Chief Executive Officer**

**RVeloCITY, Inc., dba RVnGO**

**2801 E. Camelback Road, Suite 200**

**Phoenix, Arizona 85016**

**1-888-399-9505**

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

*Copies to*:

---

| | |
|:---|:---|
| **Serge Pavluk, Esq.**<br> **Kevin Zen, Esq.**<br> **Snell & Wilmer L.L.P.**<br> **350 South Grand Avenue, 31<sup>st</sup> Floor**<br> **Los Angeles, CA 90071**<br> **(213) 929-2500** | **Peter Campitiello, Esq.**<br> **McCarter & English, LLP**<br> **Two Tower Center Boulevard, 24<sup>th</sup> Floor**<br> **East Brunswick, NJ 08816**<br> **(732) 867-9741** |

---

**Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this registration statement.**

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box: ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: ☐

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

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

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act: ☐

**The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the U.S. Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.**

**EXPLANATORY NOTE**

This registration statement contains two prospectuses, as set forth below.

●  ***Public Offering Prospectus*** . A prospectus to be used for the public offering of Class A common stock through the underwriter named on the cover page of this prospectus, which we refer to as the Public Offering Prospectus.

●  ***The Resale Prospectus*** . A prospectus to be used for the potential resale by selling stockholders of shares of Class A common stock; (ii) shares of Class A common stock issuable upon the exercise of warrants issuable to the representative of the underwriters upon the closing of this offering (the "Underwriter Warrants"); (iii) shares of Class A common stock issuable upon the exercise of Bridge Warrants issued to the selling stockholders, which we refer to as the Resale Prospectus.

The Resale Prospectus is substantively identical to the Public Offering Prospectus, except for the following principal points:

● they contain different front covers and back covers;

● they contain different Offering sections in the Prospectus Summary;

● all references in the Public Offering Prospectus to "this offering" or "this initial public offering" will be changed to "the IPO," defined as the underwritten initial public offering of our common stock, in the Resale Prospectus;

● all references in the Public Offering Prospectus to "underwriters" will be changed to "underwriters of the IPO" in the Resale Prospectus;

● they contain different Use of Proceeds sections;

● the Capitalization and Dilution sections are deleted from the Resale Prospectus;

● a Selling Stockholders section is included in the Resale Prospectus;

● the Underwriting section from the Public Offering Prospectus is deleted from the Resale Prospectus and a Plan of Distribution section is inserted in its place; and

● the Legal Matters section in the Resale Prospectus deletes the reference to counsel for the underwriter.

The registrant has included in this registration statement a set of alternate pages after the back cover page of the Public Offering Prospectus, which we refer to as the Alternate Pages, to reflect the foregoing differences in the Resale Prospectus as compared to the Public Offering Prospectus. The Public Offering Prospectus will exclude the Alternate Pages and will be used for the public offering by the Registrant. The Resale Prospectus will be substantively identical to the Public Offering Prospectus except for the addition or substitution of the Alternate Pages and will be used for the resale offering by the selling stockholders.

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

**SUBJECT TO COMPLETION, DATED JANUARY 13, 2023**

**PRELIMINARY PROSPECTUS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares**

![](formdrsa_001.jpg)

**Class A Common Stock**

We are offering shares of our Class A common stock, par value $0.0001 per share. This is our initial public offering and no public market currently exists for shares of our Class A common stock. We anticipate that the initial public offering price will be between $ and $ per share of our Class A common stock. We intend to apply to have our Class A common stock listed on The Nasdaq Capital Market under the symbol "RVGO".

We believe that upon the completion of the offering contemplated by this prospectus, we will meet the standards for listing on Nasdaq. We cannot guarantee that we will be successful in listing our common stock on NASDAQ. If our common stock is not approved for listing on the NASDAQ Capital Market, we will not consummate this offering.

We have two classes of common stock: Class A common stock and Class B common stock. Each share of Class A common stock is entitled to one vote.

Each share of Class B common stock is entitled, prior to the closing of this offering, to one vote for each share held and, following the closing of this offering, to 10 votes for each share held on all matters submitted to a vote of stockholders. Paul Kacir and Gerald F. Hayden Jr. hold approximately 90.4% of the shares of our outstanding Class B common stock.

Upon the closing of this offering, our directors, officers, and principal stockholders will own (i) shares of our Class A common stock and (ii) 8,100,000 shares of our Class B common stock, representing 90.4% of the issued and outstanding shares of our Class B common stock, which together will represent approximately % of the combined voting power of both classes of our common stock outstanding immediately after this offering (or approximately % if the underwriters exercise in full their option to purchase additional shares of our Class A common stock).

Upon the closing of this offering, we will be a "controlled company" as defined under the corporate governance rules of The Nasdaq Stock Market LLC ("Nasdaq"). However, we do not currently expect to rely upon the "controlled company" exemptions. See "*Principal Stockholders*."

We are an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended (the "Securities Act"), and will be subject to reduced public reporting requirements. This prospectus complies with the requirements that apply to an issuer that is an emerging growth company.

**Investing in our Class A common stock involves risks. See "*Risk Factors*" beginning on page 14 to read about factors you should consider before buying our Class A common stock.**

---

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

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) See
 "*Underwriting*" for additional information regarding compensation payable
 to the underwriters .

The offering is being underwritten on a firm commitment basis. We have granted a 45-day option to the underwriters to purchase up to additional shares of Class A common stock solely to cover over-allotments, if any. If the underwriters exercise the option in full, the total underwriting discounts and commissions payable by us will be $, and the total proceeds to us, before expenses, will be $.

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

The underwriters expect to deliver the shares of Class A common stock to purchasers on or about , 2023.

![](formdrsa_002.jpg)

**Boustead Securities, LLC**

The date of this prospectus is , 2023.

![](formdrsa_003.jpg)

![](formdrsa_004.jpg)

![](formdrsa_005.jpg)

![](formdrsa_006.jpg)

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [Prospectus Summary](#ba_001) | 2 |
| [The Offering](#ba_002) | 9 |
| [Summary Historical Financial Data](#ba_003) | 11 |
| [Risk Factors](#ba_004) | 14 |
| [Cautionary Note Regarding Forward-Looking Statements](#ma_001) | 35 |
| [Use of Proceeds](#ma_002) | 37 |
| [Dividend Policy](#ma_003) | 38 |
| [Capitalization](#ma_004) | 39 |
| [Dilution](#ma_005) | 40 |
| [Selected Historical Financial Data](#ma_006) | 42 |
| [Management's Discussion and Analysis of Financial Condition and Results of Operations](#ma_007) | 45 |
| [Business](#ma_008) | 67 |
| [Management](#ma_009) | 80 |
| [Executive Compensation](#Saa_001) | 85 |
| [Certain Relationships and Related Party Transactions](#Saa_002) | 93 |
| [Principal Stockholders](#Saa_003) | 94 |
| [Description of Capital Stock](#Saa_004) | 96 |
| [Shares Eligible For Future Sale](#Saa_005) | 101 |
| [Certain Material United States Federal Income Tax Considerations For Non-U.S. Holders](#Saa_006) | 102 |
| [Underwriting](#Saa_007) | 106 |
| [Legal Matters](#Saa_008) | 107 |
| [Experts](#Saa_009) | 107 |
| [Where You Can Find Additional Information](#Saa_010) | 108 |
| [Index to Financial Statements](#Saa_011) | F-1 |

---

**Through and including , 2023 (the 25<sup>th</sup> day after the date of this prospectus), all dealers that buy, sell or trade shares of our Class A common stock, whether or not participating in our initial public offering, may be required to deliver a prospectus. This delivery requirement is in addition to the obligation of dealers to deliver a prospectus when acting as underwriter and with respect to its unsold allotments or subscriptions.**

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

For investors outside the United States: Neither we nor any of the underwriters have done anything that would permit this offering or the possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside of the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, this offering and the possession and distribution of this prospectus outside of the United States.

i

**INDUSTRY AND MARKET DATA**

This prospectus contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. We obtained the industry and market data in this prospectus from our own research as well as from industry and general publications, surveys and studies conducted by third parties. This data involves a number of assumptions and limitations and contains projections and estimates of the future performance of the industries in which we operate that are subject to a high degree of uncertainty, including those discussed in "Risk Factors." We caution you not to give undue weight to such projections, assumptions, and estimates. Further, industry and general publications, studies and surveys generally state that they have been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. While we believe that these publications, studies, and surveys are reliable, we have not independently verified the data contained in them. In addition, while we believe that the results and estimates from our internal research are reliable, such results and estimates have not been verified by any independent source.

**Domains, TRADEMARKS, SERVICE MARKS AND TRADENAMES**

We own or have rights to use a number of domain names, registered and common law trademarks, service marks and/or trade names in connection with our business in the United States and/or in certain foreign jurisdictions.

Solely for convenience, the trademarks, service marks, logos and trade names referred to in this prospectus are without the® and™ symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these trademarks, service marks and trade names. This prospectus contains additional trademarks, service marks and trade names of others, which are the property of their respective owners. All trademarks, service marks and trade names appearing in this prospectus are, to our knowledge, the property of their respective owners. We do not intend our use or display of other companies' trademarks, service marks, copyrights or trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

We have a trademark for the name RVnGO® and, among others, pending applications for the phrase "person-to-person RV rentals"™. We have registered domain names for, among others, www.RVnGO.com, including subdomains and similar domain names.

**FINANCIAL STATEMENT PRESENTATION**

We have made rounding adjustments to some of the figures included in this prospectus. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that precede them.

**PROSPECTUS SUMMARY**

*This summary highlights information contained in greater detail elsewhere in this prospectus. This summary is not complete and does not contain all the information you should consider in making your investment decision. You should read the entire prospectus carefully before making an investment in our Class A common stock and should carefully consider, among other things, our financial statements and the related notes and the sections entitled "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business" included elsewhere in this prospectus. Unless the context requires otherwise, references in this prospectus to the "Company," "RVnGO," "we," "us" and "our" refer to RVeloCITY, Inc., a Delaware corporation.*

**Overview**

**We believe in bringing people together and we are doing it with a free to Hosts person-to-person software platform for recreational vehicle rentals.**

We believe in bringing people closer together and we are doing it with a peer-to-peer (or person-to-person) marketplace for recreational vehicle ("RV") rentals, similar to Airbnb, but for RVs. Our features include:

● A free peer-to-peer platform with no listing or hosting fees to people who want to rent out their RVs, who we designate as "Hosts." There is a 3% processing fee paid by people who want to rent RVs, who we designate as "Guests." We do not charge any fees to Hosts.

● A complete business solution for an RV rental business, whether you have a fleet of one or 100 RVs.

● Compelling value-added services that give peace of mind to the Guest and Host in every rental transaction.

● A platform that is expanding rapidly with 73% growth in gross bookings\* and 153% growth in revenue in fiscal year 2021 over the same period in fiscal year 2020, even with the positive demand effects of the COVID-19 pandemic having waned. In fiscal year 2020, our gross bookings grew more than sixteen-fold, and our revenue grew more than four-fold, from fiscal year 2019, primarily due to the positive effects of the COVID-19 pandemic on the demand for RV rentals.

 \* Gross bookings represents the dollar value of bookings on our platform in a period and is inclusive of Host earnings, service fees, cleaning fees, and taxes, net of cancellations and alterations that occurred during that period.

We currently generate revenues from (1) our 'protection plan,' which protects the Guest and the Host during the rental period for damage caused to the RV and provides $1 million auto liability coverage that we arranged with a third-party underwriter; (2) the processing fee paid by Guests and (3) optional 24/7 roadside assistance services. Our protection plan and 24/7 roadside assistance services are part of a broader set of value-added services that we provide, as discussed further below.

We conduct our business through our website www.RVnGO.com. We provide the software and access to customers desired by Hosts. We also make it easy for Guests to find exactly what they are looking for and book the RV as easily as they would any other rental vehicle. We then provide peace of mind to both our Hosts and Guests through value-added services on every rental transaction, including protecting the integrity of the transaction before it takes place if the transaction is cancelled or failure by the Host to deliver the RV, and then during the rental if there is damage caused to the RV during the rental, arranged auto liability coverage, and other optional add-ons such as 24/7 roadside assistance services.

A screenshot of the top of our home page is below:

![](formdrsa_007.jpg)

**The Problem:** There is massive demand to rent RVs (see *Market Opportunity – RVing and Camping More Popular Than Ever* below), but there is an acute shortage of RVs for rent because of off-season carrying costs—including expensive commercial insurance policies with monthly premiums paid by the Host that are required to rent out an RV. The over-demand for RVs has become more acute with the positive effects of COVID-19 on the demand to rent RVs. Aside from 2020, 2021 was the most popular year for searching the term 'RV rental,' according to Google Search Console, which we believe is one proxy showing the relative demand for RV rentals. The industry is highly fragmented, and it is hard for the estimated 2,500 small fleet owners (with an average of 20-25 units each) to reach customers without going through aggregator sites that charge as much as 30% in fees per transaction. In recent internal benchmarking that management conducted in May 2022, the same four-day, three-night transaction was found to be 23% to 48% more expensive on two competing peer-to-peer listing platforms (Outdoorsy and RVshare) than on RVnGO.

**Our Solution:** We created a complete business platform including listing, lead generation, eCommerce solution, booking calendar, customer management and fleet management tools. We give the small business operator the software and access to markets and customers they need to run their RV rental business, and we made it all free to the Host. By aggregating supply, we made it easy for people interested in renting an RV to find their perfect rental, and with our Host and Guest protection plan included in our value-added services, we give both Hosts and Guests peace of mind for the rental.

**Market Opportunity – RVing and Camping More Popular Than Ever:**

● Before
 the COVID-19 pandemic, based on our own estimates, we believe there was demand for up to $35 billion annually in RV rental
 transactions, swamping the then-existing 200,000-unit fleet that met only $5 billion of that demand annually.

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

● Currently,
 there are between one million to ten million searches every month for the keyword 'RV rental' and closely related
 keywords according to Google keyword search trends (www.trends.google.com) over the last twelve months.

● Management
 believes that no one in the current market processes more than 5% of RV rental transactions directly or indirectly. The largest fleet
 operator is Cruise America, with an estimated 5,000 units.

● The
 United States is estimated to represent about half of the market worldwide for RVs.

● In
 a 2021 study conducted by Ipsos for The National RV Dealers Association ("RVDA") and GoRVing, trends in RVing,
 including general interest and purchase intentions, particularly from more youthful demographics such as Millennials and more traditional
 demographic groups associated with RVing, provide a positive long-term outlook for the RV industry.

● A 2021 study conducted by Trips To Discover found that
 RV prices have increased by 50% over the past decade, leading to an 80% increase in RV rentals.

● The latest KOA Research Report indicates that 38 percent
 of campers who have not traveled for a year or more plan to take at least one camping trip in 2022 despite higher fuel costs.

● The recreational vehicle rental industry remains highly
 seasonal, with most rentals occurring during the summer months, and in the past has also been highly cyclical, experiencing reduced
 demand corresponding with economic downturns as consumers reduce discretionary spending on vacations and luxury goods like RVs and
 RV rentals.

Management believes all these trends combine to provide a robust and positive backdrop for the continued growth of the RV industry, including RV rentals and the services provided by the Company.

**Technology/ Product/ Service – A Complete Business Solution with Transformational Economics:**

---

| | |
|:---|:---|
| ● | RVnGO has created a complete and custom business solution, including a Listing Platform, Transaction Lead Generation, Booking Engine, Fleet Calendar and Customer and Fleet Management Tools, coupled with value-added services protecting the Guest and the Host for each RV rental, and we made it all free to the Host, with the Guest paying for the nightly value-added services and a 3% processing fee. |
| ● | We arranged for a third-party carrier licensed to provide up to $1 million in automobile liability coverage to the Guest and Host for travel throughout the United States and Canada for rental transactions booked on our platform. This liability coverage comes standard and is automatically included in any protection plan. |
|  | We believe our value-added services are compelling in their own right, with Hosts and Guests being able to purchase our services for transactions originated elsewhere, and almost 50% of our transactions are for our value-added services only, where the Host and Guest originated the transaction directly, or on Facebook or Craigslist, or even competing platforms with finders' fees, and then came to RVnGO to purchase our value-added services for the transaction. |
| ● | We believe the transformational economics of our free platform and our value-added services has implications well beyond the RV industry. |

---

**Competitive Landscape – Fragmented Market:**

**Main Competitors:** Our main competition is other listing sites for RV rentals in the United States, including Outdoorsy and RVShare. We believe in bringing people together by making it easy for Guests to find Hosts (regardless of whether the Host has one RV or a thousand for rent) and to fix the inefficiencies in the marketplace by making it as easy and inexpensive as possible. And unlike our competitors, we do not put up barriers to bringing together Hosts and potential Guests by charging a listing or hosting fee.

We do not consider Hosts who rent out their RVs, whether they have one RV or a fleet in the dozens or thousands of RVs, to be our competitors. Instead, they are our customers, and we are their channel to the marketplace for RV rentals. We have thousands of individuals renting their RVs on RVnGO, and we also have more than 350 fleet operators (we define a fleet operator as anyone that lists more than one RV for rent). By industry estimates and our own experience, the average fleet operator has 20-25 units, and we estimate there are approximately three fleets in the United States with more than 1,000 units. Significantly, two of those three large fleets list their RVs on RVnGO, and we are not aware that any of those three large fleets are listed on a competitor's listing service.

**Competitive Advantage:** Our competitors offer third-party insurance products, and in effect create two profit-centers. None of our competitors offer a free to Hosts person-to-person platform like RVnGO, and instead our competitors charge fees for using their platform, which can amount to up to 30% of the transaction cost. By cutting out middlemen in our provision of value-added services, we have achieved pricing power, and as a result RVnGO does not charge platform fees. In recent internal benchmarking that management conducted in May 2022, the same four-day, three-night transaction was found to be 23% to 48% more expensive on two competing peer-to-peer listing platforms (Outdoorsy and RVshare) than on RVnGO. Management believes that those competing platforms may charge different transaction fees to different hosts, and accordingly actual price differences may vary on competing platforms. RVnGO does not vary the fees charged to our Hosts, it is always zero whether the Host operates a fleet of one RV or 5,000 RVs, providing a level playing field for all Hosts in our RV rental marketplace.

**Team with a Track Record of Success:**

● Paul
 Kacir is the Founder & Chief Executive Officer, with a background in economics, corporate law and holding a Master
 of Business Administration, he led First Solar (NASDAQ: FSLR) as VP & General Counsel through its initial public offering and
 is now leading the transformation of RV person-to-person marketplaces.

● We
 have a qualified senior team supporting our marketplace disruptions, including Gerald F. Hayden Jr., Secretary and Chief Risk
 Officer, who was previously a Corporate Partner at Dentons, an international law firm; Bryan Kleinlein our Chief
 Financial Officer who was formerly the Treasurer and assistant Chief Financial Officer at Best Western; Richard Saling, our Chief
 Marketing Officer, who has more than 15 years' experience in his field. As of our fiscal year end on November 30, 2021, we
 had 19 full-time employees headquartered in Phoenix, AZ.

● The independent
 director nominees to our Board of Directors are: Frederick W. Weidinger, the Founder and
 Chief Executive officer of Robotic Vision Technologies, Inc., a provider of vision systems
 for manufacturing robots, and with a finance degree from University of Nebraska and a law
 degree and a Master of Business Administration from Creighton University; Korey A. Boals,
 Principal of AA Tax CPA and has a Bachelors of Science degree in Accounting from Valparaiso
 University in northwest Indiana; and [ ].

**RVnGO Milestones:**

● **Summer 2018**: Minimum viable product launched and first dollar of revenue.

● **Summer 2019**: RVnGO closed a Seed Equity Round that funded our start-up growth.

● **January 2020**: Reached 4,000 active listings, including the second largest RV fleet operator in the United States (El Monte).

● **Summer 2020**: Closed an equity round of financing that funded continued growth; organic traffic doubled monthly with the increased interest in RVing, largely due to the COVID-19 pandemic.

● **October 2020**: Added the ability for RV owners to list new and used RVs for sale. The feature is free and brings people together to buy and sell RVs. It allows Hosts to rent while they wait to sell, the unique ability for Guests to find RVs they can try before they buy, or rent to own, and it fits our Hosts' business models because they often both sell and rent RVs, and often wish to offer the same RV for sale or rent.

● **End of Fiscal Year 2020**: Finished the fiscal year with 1,594% growth in gross bookings from the prior year. RVnGO won the top prize in the Arizona Innovation Challenge run by the Arizona Corporate Authority recognizing Arizona's most innovative, fastest growing and most promising companies, beating out more than 400 other entrants.

● **February 2021**: Third largest fleet operator in America began listing on the platform (Road Bear), and RVnGO surpassed 200 fleet operators and 900 individual Hosts.

● **April 2021**: Growth continued for RVnGO during the traditionally slower off-season, reaching 45,000 monthly organic users as measured by Ahrefs.com.

● **September 2021**: Reached 185,000 monthly organic users as measured by Ahrefs.com.

● **End of Fiscal Year 2021**: Surpassed 16,000 active registered users including 1,900 Hosts and 350 fleet operators on the platform. We had 73% growth in gross bookings and 153% growth in revenue over the same period last year.

● **End of the Third Fiscal Quarter 2022:** More than 20,000 active registered users including 2,600 hosts and 550 fleet operators.

The Company has not yet achieved profitability, incurring net losses for each of its fiscal years since formation. There is also substantial doubt about the Company continuing as a going concern without further financing. See in the *Risk Factors – Risks Related to Our Indebtedness, Financial Condition, and Financial Reporting.*

**Recent Transactions**

***Corporate Reorganization***

On April 5, 2022, we completed a statutory conversion to change the Company's corporate domicile from Arizona to Delaware, which conversion also entailed the replacement of the Company's Series A common stock and Series B common stock with Class A common stock and Class B common stock of the post-conversion Delaware corporation (with each outstanding share of Series A common stock at the time of conversion being converted into one share of Class A common stock of the Delaware corporation, and each outstanding share of Series B common stock at the time of conversion being converted into one share of Class B common stock of the Delaware corporation) and the adoption of new rights, preferences and privileges of such Class A common stock and Class B common stock (the "Corporate Reorganization"). The Corporate Reorganization was intended to better position the Company for this initial public offering and listing of the Class A common stock for trading on the Nasdaq Capital Market.

***Convertible Notes Offerings***

Between January 8, 2022 and February 28, 2022, we entered into, issued, and sold convertible promissory notes to certain investors in the aggregate principal amount of $1.755 million (the "Convertible Notes"). The Convertible Notes have an annual interest rate of 6% and mature after three years. Upon the closing of this offering, the outstanding principal and accrued interest under the Convertible Notes will automatically (and without any action on the part of the note holders) be converted into shares of our Class A common stock at a conversion price equal to 60% of the initial public offering price of our Class A common stock (the "Conversion Price"). The Convertible Notes will also automatically convert if, prior to the maturity date of such notes and prior to the closing of this offering, the Company undergoes a change of control, reverse merger, or merger with a special purpose acquisition company (SPAC), at a conversion price equal to 60% of the aggregate consideration in any such transaction, divided by the total number of outstanding shares of the acquiror resulting from such transaction. The outstanding principal and accrued interest under the Convertible Notes may also be converted at any time at the option of each note holder into our Class A common stock at a price equal to the price per share determined by dividing $50 million by the total number of outstanding shares of Class A common stock and Class B common stock. In the event neither this offering nor any other liquidity event is consummated within twelve months of the issue date of the Convertible Notes, we may elect either to (a) repay the Convertible Notes in whole or in part (subject to the conversion rights of the note holders), or (b) if we do not repay the Convertible Notes, the unpaid principal amount of the Convertible Notes will automatically increase to 110% of the outstanding principal amount. We may also elect to prepay the Convertible Note at any time after March 31, 2022 upon 20 business days' prior written notice to the note holders.

On January 21, 2022 and February 24, 2022, in connection with the Convertible Notes offerings, we issued certain warrants to purchase our Class A common stock to Boustead Securities, LLC, as placement agent (the "Boustead Convertible Note Warrants"). Pursuant to the Boustead Convertible Note Warrants, Boustead Securities, LLC may purchase such number of shares of our Class A common stock (subject to adjustment) equal to 7% of the number of shares of Class A common stock into which the Convertible Notes convert into pursuant to their terms at an exercise price equal to the Conversion Price. The Boustead Convertible Note Warrants expire five years from their respective date of issuance.

***Series A Common Stock Offering***

Between March 2021 and October 2021, we sold 5,914,500 shares of our Series A common stock of our pre-conversion Arizona corporation to certain investors in an unregistered private placement offering, at a price per share equal to $0.40 per share for the first tranche and $0.50 per share for the balance, for an aggregate purchase price of approximately $2,781,000.

 **

***Series B Common Stock Exchange Offer***

 **

On March 15, 2022, we made an offer to substantially all holders of our Series B common stock (other than Paul Kacir and Gerald F. Hayden Jr.), to exchange all or a portion of their shares of Series B common stock for shares of our Series A common stock on a one-for-one basis (the "Exchange Offer"). Pursuant to the Exchange Offer, an aggregate of 4,611,767 shares of Series B common stock was exchanged for 4,611,767 shares of Series A common stock. The principal purpose of the Exchange Offer was to ensure that the special voting rights that will apply to the Class B common stock commencing upon the closing of this offering would apply only to Paul Kacir and a limited number of other Company insiders, so that those persons could control the direction of the Company during its growth phase and help prevent any potential hostile, third party takeover bids that would be subject to a stockholder vote. In addition, as the Class B common stock does not have the right to receive dividends (subject to certain limited exceptions), the Company wanted to allow stockholders to obtain the full economic benefit of their prior investments in the Company and exchange their Series B common stock for Series A common stock in advance of the effective time of our conversion to a Delaware corporation, so that such stockholders would receive shares of Class A common stock of the Delaware corporation, which shares in turn would be entitled to dividends, if any, as and when declared by the board of directors.

***<u>Bridge Loans</u>***

Between May 18, 2022 and July 8, 2022, we entered into certain loan documents (the "May 2022 Bridge Loan Documents") pursuant to which we issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1.8 million and warrants to purchase Class A common stock (the "Bridge Warrants") issued automatically upon the purchase of such notes. On September 23, 2022, we entered into a new set of loan documents (the "September 2022 Bridge Loan Documents") pursuant to which we issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1,050,000 (collectively under both the May 2022 Bridge Loan Documents and the September 2022 Bridge Loan Documents, the "Bridge Notes"), and Bridge Warrants issued automatically upon the purchase of such notes. The Bridge Notes issued under the May 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or June 30, 2023, whichever occurs first. The Bridge Notes issued under the September 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or October 31, 2025, whichever occurs first. The Company may also elect to prepay the Bridge Notes at any time without penalty or premium. Each investor purchasing Bridge Notes also received Bridge Warrants to purchase a number of shares of Class A common stock (the "Bridge Warrant Shares") that is equal to the initial principal amount of such investor's Bridge Note divided by $2.50. The Bridge Warrants have an exercise price equal to the lower of $2.50 or 50% of the price of the Class A common stock in this offering and are exercisable at any time following the date of issuance for a period of five years from the date of issuance. In connection with the closing of this offering, the Company is also causing to be filed a registration statement covering the Bridge Warrant Shares, provided that 50% of such Bridge Warrant Shares shall be subject to a 6-month lock-up period commencing upon the closing of this offering.

**Summary Risk Factors**

Participating in this offering involves substantial risk. Our ability to execute our strategy is also subject to certain risks. The risks described under the heading "*Risk Factors*" included elsewhere in this prospectus may cause us to be unable to successfully execute all or part of our strategy, and if any of them actually occurs, our business, prospects, operating results and/or financial condition could suffer materially, the trading price of our Class A common stock could decline and you could lose all or part of your investment. Some of the most significant challenges and risks include the following:

● *Our business is both cyclical and seasonal and subject to fluctuations in net income.* 

● *Our business may be sensitive to economic conditions, including those that impact consumer spending.* 

● *The RV industry is concentrated in the United States and Canada and is not geographically diversified globally.* 

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

● *If we fail to retain existing Hosts or add new Hosts, or if Hosts fail to provide high-quality inventory, our business, results of operations, and financial condition would be materially adversely affected.* 

● *If we fail to retain existing Guests or add new Guests, our business, results of operations, and financial condition would be materially adversely affected.* 

● *The business and industry in which we participate are highly competitive, and we may be unable to compete successfully with our current or future competitors.* 

● *We are dependent on a single carrier to provide automobile liability coverage for RVs.* 

● *The coverage afforded under the auto liability insurance policy and business insurance policy may be inadequate for the needs of our business or our third-party insurer may be unable or unwilling to meet our coverage requirements, which could materially adversely affect our business, results of operations, and financial condition.* 

● *The ongoing and prolonged COVID-19 pandemic has impacted our operations and results of operations and has had, and may continue to have, a material adverse effect on our business, growth prospects, financial condition, results of operations and/or cash flows.* 

● *We are reliant on the retention of certain key personnel and the hiring of strategically valuable personnel, and we may lose or be unable to hire one or more of such personnel.* 

● *The success of our business relies heavily on our marketing and branding efforts, and these efforts may not be successful.* 

● *Our business partners may be unable to honor their obligations to us or their actions may put us at risk.* 

● *Because our success depends substantially on our ability to maintain a professional reputation, adverse publicity concerning us, one of our businesses, or our key personnel could adversely affect our business.* 

● *We have incurred significant losses since our inception, and we may continue to experience losses in the future.* 

● *Our limited operating history makes it difficult to evaluate our current business and future prospects, and we may not be able to effectively grow our business or implement our business strategies, which could have a material adverse effect on our business.* 

● *There is substantial doubt about our ability to continue as a going concern without the proceeds from this offering.* 

● *Following this offering, we may require additional capital to meet our financial obligations and to support our business growth, and this capital might not be available on acceptable terms or at all.* 

● *We are an emerging growth company and a smaller reporting company, and we cannot be certain if the reduced disclosure requirements applicable to us will make our Class A common stock less attractive to investors.* 

● *The dual class structure of our common stock may adversely affect the trading market for our Class A common stock.* 

● *Our directors, officers and principal stockholders control the direction of our business, and their ownership of our Class A common stock and Class B common stock will prevent you and other stockholders from influencing significant decisions.* 

 

**Corporate Information**

RVeloCITY, Inc., dba RVnGO was founded in Arizona on April 30, 2015, under number 2002188-5. Our principal executive offices are located at 2801 E. Camelback Road, Suite 200, Phoenix, Arizona 85016, and our telephone number is 1-888-399-9505. Our fiscal year-end is November 30. On April 5, 2022, the Company converted to a Delaware corporation. Our principal corporate website address is *www.rvngo.com*. Our principal corporate website and other websites referred to in this prospectus, and the information contained therein or connected thereto, shall not be deemed to be incorporated into this prospectus or the registration statement of which it forms a part.

**Implications of Being an Emerging Growth Company**

As a company with less than $1.07 billion in revenue during our last fiscal year, we qualify as an "emerging growth company" (an "EGC"), as defined in the Jumpstart Our Business Startups Act (the "JOBS Act"), under the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC"). As an EGC, we are eligible to take advantage of specified reduced reporting and other requirements that are otherwise applicable generally to larger, non-EGC public companies. As an EGC, among other things, we are eligible to:

● provide only 2 years of audited financial statements and only 2 years of related management's discussion and analysis of financial condition and results of operations disclosure;

● provide reduced disclosures regarding executive compensation under Item 402 of Regulation S-K under the Securities Exchange Act of 1934, as amended (the "Exchange Act");

● not seek non-binding advisory votes on executive compensation or golden parachute arrangements; and

● not obtain from our auditor attestations regarding our assessment of the effectiveness of our internal control over financial reporting pursuant to the Sarbanes-Oxley Act of 2002 ("SOX").

The JOBS Act also permits EGCs, like us, to take advantage of an extended transition period to comply with new or revised accounting standards applicable to public companies. We are choosing to take advantage of this provision and, as a result, we will not be required to comply with new or revised accounting standards until those standards would otherwise apply to private companies.

Under the JOBS Act, we are permitted to take advantage of the SEC's EGC disclosure exemptions until the end of the fiscal year in which the 5<sup>th</sup> anniversary of this offering occurs, or such earlier time that we no longer qualify as an EGC. After such period, we would cease to qualify as an EGC if we attain $1.07 billion or more in annual revenues, become a "large accelerated filer" as defined in Rule 12b-2 under the Exchange Act, or issue more than $1.0 billion of non-convertible debt securities over a 3-year period. From time to time, we may choose to take advantage of one or more of these reduced disclosure requirements. Even if we were to no longer qualify as an EGC, we may still qualify as a "smaller reporting company," which would allow us to take advantage of many of the same exemptions from disclosure requirements discussed above, as well as others.

We have elected to take advantage of some of the reduced disclosure obligations regarding financial statements and executive compensation in this prospectus and may elect to take advantage of other reduced disclosure requirements in future filings. As a result, the information we provide to our stockholders may be different than you might receive from non-EGCs.

**THE OFFERING**

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| | |
|:---|:---|
| Issuer | RVeloCITY, Inc., a Delaware corporation |
| Class A common stock offered by us | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares |
| Underwriters' option to purchase additional shares of Class A common stock from us | shares |
| Total Class A common stock to be outstanding immediately after this offering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares (or shares if the underwriters' option to purchase additional shares from us is exercised in full) (with each share having one vote per share) |
| Total Class B common stock to be outstanding immediately after this offering | 8,958,000 shares (with each share having, following the closing of this offering, 10 votes per share) |
| Use of proceeds | We estimate that our net proceeds from the sale of our Class A common stock that we are offering in this prospectus will be approximately $ million (or approximately $ million if the underwriters' option to purchase additional shares of our Class A common stock from us is exercised in full), assuming an initial public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.<br>We intend to use the net proceeds from this offering for repayment of all of the Bridge Notes and for working capital and general corporate purposes, which could include, without limitation, expenditures for research and development, sales and marketing activities, recruiting and retaining employees, funding future strategic transactions and other business opportunities, and other corporate expenditures. See "*Use of Proceeds*" for additional information. |
| Voting rights | We have two classes of common stock: Class A common stock and Class B common stock. Class A common stock will be entitled to one vote per share and Class B common stock will be entitled, following the closing of this offering, to 10 votes per share. |
|  | Holders of Class A common stock and Class B common stock will generally vote together as a single class, unless otherwise required by law or our certificate of incorporation. Upon the closing of this offering, our directors, officers, and principal stockholders will own (i) shares of our Class A common stock and (ii) 8,100,000 shares of our Class B common stock, representing 90.4% of the issued and outstanding shares of our Class B common stock, which together will represent approximately % of the combined voting power of both classes of our common stock outstanding immediately after this offering (or % if the underwriters exercise in full their option to purchase additional shares of our Class A common stock). As a result, our directors, officers, and principal stockholders will have the ability to control the outcome of all matters submitted to our stockholders for approval, including, without limitation, the election of our directors and the approval of any change in control transaction. |

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| | |
|:---|:---|
| Over-allotment Option | We have granted to the underwriters an option to purchase up to an additional ________ shares of Class A common stock exercisable solely to cover over-allotments, if any, at the applicable public offering price less the underwriting discounts and commissions shown on the cover page of this prospectus. The representative may exercise this option in full or in part at any time and from time to time until 45 days after the date of this prospectus. |
| Lockups | We, our directors, executive officers, and certain stockholders have agreed not to offer, issue, sell, contract to sell, encumber, grant any option for the sale of or otherwise dispose of any of our securities for a period of at least twelve months after the date of this prospectus; provided however that after the initial six months following the date of this offering, stockholders subject to the lock-up will have limited ability to resell shares subject to certain limitations. See "Underwriting" for more information. |
| Risk factors | See "*Risk Factors*" to read about factors you should consider before buying shares of our Class A common stock. |
| Proposed trading symbol | We intend to apply to have our Class A common stock listed on the NASDAQ Capital Market under the symbol "RVGO" |

---

The number of shares of our Class A common stock and Class B common stock to be outstanding immediately after this offering is based on shares of our Class A common stock and shares of our Class B common stock outstanding as of , 2023, and excludes the following:

● 7,526,710 shares of our Class A common stock issuable upon the exercise of options to purchase shares of our Class A common stock that were outstanding as of , 2023, with a weighted-average exercise price of $0.34 per share, pursuant to the RVeloCITY, Inc. Amended and Restated Omnibus Incentive Compensation Plan (the "Incentive Compensation Plan");

● 10,955,951 shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock that were outstanding as of , 2023, with a weighted-average exercise price of $0.26 per share;

● shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock that we will issue to Boustead Securities, LLC in connection with this offering (representing an aggregate of 7% of the aggregate number of the shares sold in this offering at an exercise price equal to 100% of the offering price of the shares sold in this offering);

● shares of our Class A common stock issuable upon the exercise of the Boustead Convertible Note Warrants at an exercise price equal to the Conversion Price;

● 375,000 shares of our Class A common stock issuable upon the vesting of restricted stock units to be awarded to each of our current non-employee directors in connection with this offering ; and

● 1,909,376 shares of our Class A common stock reserved for future issuance under the Incentive Compensation Plan.

In addition, unless we specifically state otherwise, the information in this prospectus assumes:

● an initial public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this prospectus;

● the automatic conversion of the Convertible Notes into an aggregate of shares of our Class A common stock, the conversion of which will occur immediately prior to the completion of this offering;

● no exercise of the outstanding options and warrants described above; and

● no exercise by the underwriters of their option to purchase an additional shares of our Class A common stock.

**Summary Historical Financial AND OTHER Data**

The following tables set forth a summary of our historical financial data as of, and for the periods ended on, the dates indicated. The summary historical statements of operations data for the years ended November 30, 2020 and 2021 and the selected historical balance sheet data as of November 30, 2021 presented below have been derived from our audited financial statements included elsewhere in this prospectus. The summary historical statements of operations data for the nine months ended August 31, 2021 and 2022 and the selected historical balance sheet data as of August 31, 2022 presented below have been derived from our unaudited interim financial statements included elsewhere in this prospectus.

The results of operations for the periods presented below are not necessarily indicative of the results to be expected for any future period. You should read this data together with our financial statements and related notes appearing elsewhere in this prospectus and the information contained under the headings "*Selected Historical Financial Data*" and "*Management's Discussion and Analysis of Financial Condition and Results of Operations.*"

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended <br>November 30, | Year Ended <br>November 30, | Nine Months Ended <br>August 31, | Nine Months Ended <br>August 31, |
|  | 2020 | 2021 | | |
|  | | | 2021<br>(Unaudited) | 2022<br>(Unaudited) |
| Revenue | $133983 | $338967 | $291418 | 313690 |
| Cost of revenue | 143841 | 415105 | 296523 | 534579 |
| Gross profit (loss) | (9858) | (76138) | (5105) | (220889) |
| Operating expenses | (2668241) | (3465859) | (2088161) | (6136007) |
| Loss from operations | (2678099) | (3541997) | (2093266) | (6356896) |
| Other income (expense) | (27712) | 112163 | (4087) | (20228) |
| Loss before income taxes | (2705811) | (3429834) | (2097353) | (6377124) |
| Provision for income taxes |  |  |  |  |
| Net loss (1) | $(2705811) | $(3429834) | (2097353) | (6377124) |
| Weighted average shares outstanding | 36962143 | 43663795 | 42672964 | 47155029 |
| Net loss per share – basic and diluted | $(0.07) | $(0.08) | $(0.05) | $(0.14) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) In
 the second quarter of 2022, the Company incurred a one-time expense of $1,475,765 as a result of the Exchange Offer and the resulting
 exchange of certain shares of the Company's Series B common stock for shares of the Company's Series A common stock,
 which was effected in connection with the Corporate Reorganization. This stock-based compensation modification valuation
 was based on a third-party valuation study to account for the change in fair value at the date of the exchange.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of<br> November 30, 2021** | **As of<br> August 31, 2022** | **As of<br> August 31, 2022** | **As of<br> August 31, 2022** |
|  | **Actual** | **Actual** | **Pro Forma<sup>(1)</sup>** | **Pro Forma as Adjusted <sup>(2)(3)</sup>** |
|  |  | **(Unaudited)** | **(Unaudited)** |  |
| **Balance Sheet Data:** |  |  |  |  |
| Cash | $447502 | $339707 | $| $|
| Working capital<sup>(4)</sup> | $479000 | $(2167097) | $| $|
| Total assets | $1050120 | 805489 | $| $|
| Total liabilities | $564870 | 4579107 | $| $|
| Accumulated deficit | $(10570072) | (16947196) | $| $|
| Total equity | $485250 | (3771118) | $| $|

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&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 pro forma column in the balance sheet data table above reflects (i) the net issuance of shares
 of our Class A common stock upon the conversion of the Convertible Notes immediately prior
 to the closing of this initial public offering (based on the assumed initial public offering
 price of $ per share, which is the midpoint of the price range
 set forth on the cover page of this prospectus); and (ii) stock-based compensation
 expense of [$] related to stock options granted under the Equity
 Plan for which the service-based vesting condition was satisfied or partially satisfied as
 of August 31, 2022, reflected as an increase to additional paid-in capital and accumulated
 deficit.

(2) The
 pro forma as adjusted column reflects: (i) the pro forma adjustments set forth in footnote (1) above; and (ii) the sale of shares
 of our Class A common stock in this offering at an assumed initial public offering price per share of $, which
 is the midpoint of the price range set forth on the cover page of this prospectus, after deducting estimated underwriting discounts
 and commissions and estimated offering expenses payable by us.

(3) The
 pro forma as adjusted information discussed above is illustrative only and will depend on the actual initial public offering price
 and other terms of this offering determined at pricing. Each $1.00 increase or decrease in the assumed initial public offering price
 per share of $, which is the midpoint of the price range set forth on the cover page of this prospectus, would
 increase or decrease, as applicable, each of our pro forma as adjusted cash, cash equivalents and marketable securities, working
 capital, total assets, additional paid-in capital, and total stockholders' equity by approximately $ million,
 assuming the number of shares of Class A common stock offered by us, as set forth on the cover page of this prospectus, remains the
 same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly,
 each 1.0 million share increase or decrease in the number of shares of Class A common stock offered in this offering would increase
 or decrease, as applicable, each of our pro forma as adjusted cash, cash equivalents and marketable securities, working capital,
 total assets, additional paid-in capital, and total stockholders' equity by approximately $ million, assuming
 that the initial public offering price per share remains at $, which is the midpoint of the price range set forth
 on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering
 expenses payable by us.

(4) We define working capital as current assets less current
 liabilities.

**Key Business Metrics**

We review the following key business metrics to measure our performance, identify trends, formulate financial projections, and make strategic decisions. We are not aware of any uniform standards for calculating these key metrics, which may hinder comparability with other companies that may calculate similarly titled metrics in a different way.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Fiscal year ended November 30 | Fiscal year ended November 30 | |  |
|  | 2020 | 2021 | Nine Months Ended<br>August 31, 2022 |  |
| Nights Booked (1) | 2572 | 6547 | 6403 |  |
| Gross Bookings (2) | $828541 | $1442469 | $1465279 |  |
| Revenue | $133983 | $338967 | $313690 | (3) |
| Loss from operations | $(2678099) | $(3541997) | $(6356896) |)(3)(4) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Nights Booked on our platform
 in a period represents the sum of the total number of nights fulfilled for rentals that
 occurred in that period.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Gross Bookings represents the dollar value of bookings on
our platform in a period and is inclusive of Host earnings, service fees, cleaning fees, and taxes, net of cancellations and alterations
that occurred during that period.

(3) Revenue and Loss from operations are unaudited for
 the period of nine months ended August 31, 2022.

(4) In the second quarter of 2022, the Company incurred a one-time expense of $1,475,765 as a result
 of the Exchange Offer and the resulting exchange of certain shares of the Company's Series
 B common stock for shares of the Company's Series A common stock, which was effected in connection with the Corporate Reorganization.
 This stock-based compensation modification valuation was based on a third-party valuation study to account for the change in fair value
 at the date of the exchange.

The following quarterly information has not been audited or reviewed by the Company's independent registered public accounting firm.

**Quarterly Statements of Operations (Unaudited)**

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| **Revenue** | $**13333** | $**5257** | $**67162** | $**48229** | $**34613** | $**80999** | $**175804** | $**47549** | $**29842** | $**74510** | $**209338** |
| **Costs and expenses** |  |  |  |  |  |  |  |  |  |  |  |
| **Cost of revenue** | **24025** | **25756** | **61320** | **32739** | **46073** | **55301** | **195148** | **118582** | **171444** | **81907** | **281227** |
| **Sales and marketing** | **185473** | **125772** | **239261** | **241004** | **215032** | **249577** | **374134** | **469650** | **798703** | **518020** | **422974** |
| **General & administrative** | **189932** | **424862** | **645601** | **468627** | **275808** | **453315** | **439940** | **759574** | **937818** | **2331896** | **765687** |
| **Research and development** | **27132** | **39050** | **29024** | **52498** | **44235** | **45869** | **57385** | **81341** | **120170** | **116883** | **123857** |
| **Total costs and expenses** | **426562** | **615440** | **975207** | **794870** | **581148** | **804062** | **1066607** | **1429147** | **2028135** | **3048706** | **1593745** |
| **Loss from operations** | **(413229)** | **(610185)** | **(908044)** | **(746640)** | **(546535)** | **(723063)** | **(890803)** | **(1381598)** | **(1998293)** | **(2974196)** | **(1384407)** |
| **Net other income (expenses)** | **0** | **(7200)** | **(11135)** | **(9376)** | **(498)** | **(2450)** | **(580)** | **115690** | **118623** | **(32373)** | **(106478)** |
| **Net loss** | $**(413229)** | $**(617384)** | $**(919179)** | $**(756016)** | $**(547033)** | $**(725513)** | $**(891383)** | $**(1265908)** | $**(1879670)** | $**(3006569)** | $**(1490885)** |

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**Quarterly Statement of Operations, as a Percent of Revenue (Unaudited)**

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| Revenue | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Costs and expenses |  |  |  |  |  |  |  |  |  |  |  |
| Cost of revenue | 180 | 490 | 91 | 68 | 133 | 68 | 111 | 249 | 575 | 110 | 134 |
| Sales and marketing | 1391 | 2392 | 356 | 500 | 621 | 308 | 213 | 988 | 2676 | 695 | 202 |
| General & administrative | 1424 | 8081 | 961 | 981 | 797 | 560 | 250 | 1597 | 3143 | 3130 | 366 |
| Research and development | 203 | 743 | 43 | 109 | 128 | 57 | 33 | 171 | 403 | 157 | 59 |
| Total costs and expenses | 3199 | 11706 | 1452 | 1648 | 1679 | 993 | 607 | 3006 | 6796 | 4092 | 761 |
| Loss from operations | (3099) | (11606) | (1352) | (1548) | (1579) | (893) | (507) | (2906) | (6696) | (3992) | (661) |
| Net other income (expenses) | 0 | (137) | (17) | (19) | (1) | (3) | (0) | 243 | 398 | (43) | (51) |
| Net loss | (3099)% | (11744)% | (1369)% | (1568)% | (1580)% | (896)% | (507)% | (2662)% | (6299)% | (4035)% | (712)% |

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**Quarterly Key Business Metrics (Unaudited)**

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| Nights Booked | 192 | 230 | 1139 | 1011 | 681 | 1356 | 2503 | 2007 | 912 | 1878 | 3613 |
| Gross Bookings | 34888 | 34122 | 438821 | 320706 | 117572 | 308548 | 675030 | 341316 | 270064 | 371430 | 823784 |

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For additional information about our key business metrics, see the section titled "*Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Business Metrics*."

**Risk Factors**

*This offering and investing in our Class A common stock involves a high degree of risk. You should carefully consider the risks and uncertainties described below together with all of the other information contained in this prospectus, including our financial statements and the related notes thereto and "Management's Discussion and Analysis of Financial Condition and Results of Operations," before deciding to invest in our Class A common stock. If any of the following risks actually occurs, our business, prospects, operating results and/or financial condition could suffer materially, the trading price of our Class A common stock could decline, and you could lose all or part of your investment. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also adversely affect our business.*

**Risks Related to Our Operations and the Travel and Recreational Vehicle Industries**

***Our business is both cyclical and seasonal and subject to fluctuations in net income.***

The recreational vehicle ("RV") industry has historically been characterized by cycles of growth and contraction in consumer demand, reflecting prevailing economic and demographic conditions, which affect disposable income for leisure-time activities. Consequently, the results of any prior period may not be indicative of results for any future period.

In addition, we have experienced in the past, and expect to experience in future periods, significant variability in quarterly sales, production and net income as a result of annual seasonality in our business. Since RVs are used primarily by vacationers and campers, historically, demand in the RV industry generally declines during the fall and winter months, while sales and profits are generally highest during the spring and summer months. Recent factors resulting from the COVID-19 pandemic, such as high consumer demand for RVs, low independent dealer inventory and constraints in the labor pool and supply chain, have been disrupting, and may continue to disrupt, the historical trends in the seasonality of our business in North America.

We are required to incur substantial advertising and promotion expenses in the offseason, and we do not recognize revenue nor have access to the booking deposits before the rental takes place, resulting in significant cash-flow needs in the off-season. If we do not have sufficient capital resources in the off-season, our operations may be negatively affected, including our growth plans to become profitable.

***Our business may be sensitive to economic conditions, including those that impact consumer spending.***

Our revenues are predominately driven by discretionary spending by consumers on vacations. We are particularly susceptible to declines in consumer spending as a result of market conditions and risks specific to the travel industry, which include the availability and popularity of other forms of entertainment and leisure. Companies within the recreational vehicle and travel industries are subject to volatility in operating results due to external factors, such as general economic conditions, credit availability, consumer confidence, employment rates, prevailing interest rates, inflation, other economic conditions affecting consumer attitudes and disposable consumer income, demographic changes, international conflict, and geopolitical changes, in part because the decision to rent an RV is often viewed as a consumer discretionary purchase. Specific external factors affecting our business include:

● COVID-19, including the impact of the pandemic on our employees, customers and suppliers and steps taken by governments and other actors to respond to the pandemic;

● Overall consumer confidence and the level of discretionary consumer spending;

● Fuel shortages or high fuel prices;

● Legislative, regulatory and tax law and/or policy developments including their potential impact on our customers;

● Interest rate fluctuations and the availability of credit, including the potential impact of these items on our customers;

● Success of new and existing platforms and services, including the success of our competitors with new platforms services they may introduce;

● Consumer spending habits and preferences regarding leisure activities;

● RV consumer demographics;

● Employment and wage trends;

● Global, domestic or regional financial or political turmoil, including the recent Russian invasion of Ukraine;

● Natural disasters;

● Relative or perceived safety, cost, availability and comfort of RV use versus other modes of travel, such as car, cruise ships, air or rail travel; and

● General economic, market and political conditions, including war, terrorism and military conflict.

Accordingly, our platform is particularly sensitive to economic cycles, as consumers are generally more willing to make discretionary purchases, including renting an RV, during periods in which favorable economic conditions prevail. Reduced consumer spending may in the future result in reduced demand for our platform and may also require increased selling and promotional expenses, which has had and may continue to have an adverse effect on our business, financial condition and operating results.

***The RV industry is concentrated in the United States and Canada and is not geographically diversified globally.***

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According to industry estimates, the United States represents at least half the world's demand for RVs. We expect to have all of our operations centered around the United States this year, with expansion into Canada in coming years and possible expansion into Western Europe, Australia and New Zealand in the future. Currently, the Company has, and for the near future will continue to have, limited global diversification outside of North America, leaving it susceptible to regional economic, geopolitical and natural impacts particular to North America, including:

● We could, in the future, experience employee retention and recruitment challenges as employees with industry knowledge and experience have been, and may continue to be, attracted to other positions or opportunities, and their ability to change employers is relatively easy; and

● The potential exists for a greater adverse impact from natural disasters, such as weather-related events and pandemics.

***If we fail to retain existing Hosts or add new Hosts, or if Hosts fail to provide high-quality inventory, our business, results of operations, and financial condition would be materially adversely affected.***

Our business depends on Hosts maintaining their listings on our platform and engaging in practices that encourage Guests to book those listings, including providing timely responses to inquiries from Guests, offering a variety of desirable and differentiated listings at competitive prices that meet the expectations of Guests, and offering exceptional services and experiences to Guests. These practices are outside of our direct control. If Hosts do not establish or maintain a sufficient number of listings and availability for listings, the number of RVs booked declines for a particular period, or the number of Hosts and Guests purchasing our valued added services declines, our revenue would decline and our business, results of operations, and financial condition would be materially adversely affected.

Hosts manage and control their offerings and typically market them on our platform with no obligation to make them available to Guests for specified dates and with no obligation to accept bookings from prospective Guests. We have had many Hosts list their RVs on our platform in one period and cease to offer these RVs in subsequent periods for a variety of reasons. While we plan to continue to invest in our Host community and in tools to assist Hosts, these investments may not be successful in growing our Hosts and listings on our platform. In addition, Hosts may not establish or maintain listings if we cannot attract prospective Guests to our platform and generate bookings from a large number of Guests. If we are unable to retain existing Hosts or add new Hosts, or if Hosts elect to market their listings exclusively with a competitor or cross-list with a competitor, we may be unable to offer a sufficient supply and variety of RVs to attract Guests to use our platform. In particular, it is critical that we continue to attract and retain individual Hosts who list their RVs on RVnGO. We attract individual Hosts predominantly through organic channels such as word of mouth and our strong brand recognition. If we are unable to attract and retain individual Hosts in a cost-effective manner, or at all, our business, results of operations, and financial condition would be materially adversely affected.

Professional Hosts (or fleet operators) expand the types of listings available to our Guests. These professional Hosts often list on our platform as well as on the platforms of our competitors. We do not control whether professional Hosts provide us with competitive pricing relative to the same RVs listed with other services. If we are not able to effectively deploy professional tools, application programming interfaces, and payment processes, work with third-party channel managers, and develop effective sales and account management teams that address the needs of these professional Hosts, we may not be able to attract and retain professional Hosts. If our platform is not as competitive as those of our competitors, these professional Hosts may choose to provide less inventory and availability with us.

In addition, the number of listings on RVnGO may decline as a result of a number of other factors affecting Hosts, including: the COVID-19 pandemic; enforcement or threatened enforcement of laws and regulations; Hosts opting for long-term rentals on other third-party platforms as an alternative to listing on our platform; economic, social, and political factors; perceptions of trust and safety on and off our platform; negative experiences with Guests, including Guests who damage Host RVs, or engage in violent and unlawful acts; and our decision to remove Hosts from our platform for not adhering to our Host standards or other factors we deem detrimental to our community. We believe a number of our Hosts are Individuals who rely on the additional income generated from our platform to pay their living expenses or vehicle payments or have acquired RVs specifically for listing.

***If we fail to retain existing Guests or add new Guests, our business, results of operations, and financial condition would be materially adversely affected.***

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Our success depends significantly on existing Guests continuing to book and attracting new Guests to book on our platform. Our ability to attract and retain Guests could be materially adversely affected by a number of factors discussed elsewhere in these "Risk Factors," including:

● events beyond our control such as the COVID-19 pandemic, other pandemics and health concerns, increased or continuing restrictions on travel, immigration, trade disputes, economic downturns, and the impact of climate change on travel, including fires, floods, severe weather and other natural disasters, and the impact of climate change on seasonal destinations;

● Hosts failing to meet Guests' expectations, including increased expectations for cleanliness in light of the COVID-19 pandemic;

● increased competition and use of our competitors' platforms and services;

● Hosts failing to provide high-quality, and an adequate supply of inventory at competitive prices;

● Guests not receiving timely and adequate community support from us;

● declines or inefficiencies in our marketing efforts;

● negative associations with, or reduced awareness of, our brand;

● actual or perceived racial discrimination by Hosts in deciding whether to accept a requested reservation;

● negative perceptions of the trust and safety on our platform; and

● macroeconomic and other conditions outside of our control affecting travel and hospitality industries generally.

In addition, if our platform is not easy to navigate, Guests have an unsatisfactory sign-up, search, booking, or payment experience on our platform, the listings and other content provided on our platform is not displayed effectively to Guests, we are not effective in engaging Guests across our various offerings and tiers, or we fail to provide an experience in a manner that meets rapidly changing demand, we could fail to convert first-time Guests and fail to engage with existing Guests, which would materially adversely affect our business, results of operations, and financial condition.

***The business and industry in which we participate are highly competitive, and we may be unable to compete successfully with our current or future competitors.***

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We operate in a highly competitive environment and we face significant competition in attracting Hosts and Guests.

● Hosts. We compete to attract, engage, and retain Hosts on our platform to list their RVs. Hosts have a range of options for listing their RVs, both online and offline. It is also common for Hosts to cross-list their offerings. We compete for Hosts based on many factors, including the volume of bookings generated by our Guests, ease of use of our platform (including onboarding, community support, and payments), service fees, the Host protections offered under our value-added services, and our brand.

● Guests. We compete to attract, engage, and retain Guests due to our platform. Guests have a range of options to find and book RVs, both online and offline. We compete for Guests based on many factors, including inventory and availability of listings, the value and all-in cost of our offerings relative to other options, the Guest protections offered under our value-added services, our brand, ease of use of our platform, the relevance and personalization of search results, the trust and safety of our platform, and community support.

Our competitors may adopt aspects of our business model, which could affect our ability to differentiate our offerings from competitors. Increased competition could result in reduced demand for our platform from Hosts and Guests, slow our growth, and materially adversely affect our business, results of operations, and financial condition.

Many of our current and potential competitors enjoy substantial competitive advantages over us, such as greater name and brand recognition, longer operating histories, larger marketing budgets, as well as substantially greater financial, technical, and other resources. In addition, our current or potential competitors have access to larger user bases and/or inventory, and may provide multiple travel products. As a result, our competitors may be able to provide consumers with a better or more complete product experience and respond more quickly and effectively than we can to new or changing opportunities, technologies, standards, or Host and Guest requirements or preferences. The global travel industry has experienced significant consolidation, and we expect this trend may continue as companies attempt to strengthen or hold their market positions in a highly competitive industry. Consolidation amongst our competitors will give them increased scale and may enhance their capacity, abilities, and resources, and lower their cost structures. In addition, emerging start-ups may be able to innovate and focus on developing a new product or service faster than we can or may foresee consumer need for new offerings or technologies before us.

There are now numerous competing companies that offer vehicles for renting. Some of these competitors also aggregate listings obtained through various sources. Some of our Hosts have chosen to cross-list their RVs, which reduces the availability of such inventory on our platform. When inventory is cross-listed, the price paid by Guests on our platform may be or may appear to be less competitive for a number of reasons, including differences in service offerings and fees by competing platforms, which may cause Guests to book through other services, which could materially adversely affect our business, results of operations, and financial condition. Certain Hosts may encourage transactions outside of our platform, which reduces the use of our platform and services.

Some of our competitors or potential competitors have more established or varied relationships with consumers than we do, and they could use these advantages in ways that could affect our competitive position, including by entering the travel and accommodations businesses. If any of these platforms are successful in offering services similar to ours to consumers, or if we are unable to offer our services to consumers within these super-apps, our customer acquisition efforts could be less effective and our customer acquisition costs, including our brand and performance marketing expenses, could increase, any of which could materially adversely affect our business, results of operations, and financial condition. We also face increasing competition from search engines including Google. These parties can also offer their own comprehensive travel planning and booking tools, or refer leads directly to suppliers, other favored partners, or themselves, which could also disintermediate our platform. In addition, if Google or Apple use their own mobile operating systems or app distribution channels to favor their own or other preferred travel or vehicle rental service offerings, or impose policies that effectively disallow us to continue our offerings in those channels, it could materially adversely affect our ability to engage with Hosts and Guests who access our platform via mobile apps or search.

We also face competition from other consumer leisure, discretionary and vacation spending alternatives, such as cruises, vacation homes, timeshares and other traditional vacations along with other recreational products like boats and motorcycles. Changes in actual or perceived value among these alternatives by consumers could impact demand for our service and our future profitability.

 **

***We are dependent on a single carrier to provide automobile liability coverage for RVs.***

 **

Our business is dependent on our ability to arrange auto liability coverage for our Hosts and Guests which is included as a value-added service in our protection plan fee. We are currently dependent on a single third-party auto liability carrier, Crum & Forster, as we believe it is in the best interests of our business from a profitability standpoint to consolidate with a sole provider. If our sole provider decides to not renew our current policy, which renews on an annual basis, or becomes insolvent or otherwise fails to pay claims, and we cannot secure a replacement carrier in time or at all, or if our carrier raised rates, it would severely impact our operations, our gross margins and our profitability, and our business, results of operations, and financial condition could be materially adversely affected.

***We provide a Guest and Host protection plan and other value-added services during a rental and expenses from providing these services in excess of anticipated rates would negatively affect our business and financial results.***

We provide value-added services to the Guest and Host for a rental transaction which includes relief in the case of a cancellation or non-delivery, protection against damage to the RV during a rental and optional roadside assistance to the recreational vehicles rented on our platform and if the expenses in relation to providing these value-added services are higher than anticipated or higher than that we have experienced historically, we would incur higher expenses and our financial results would be negatively affected, and we may require additional capital to fund the expenses which may not be available on favorable terms or at all. Similarly, there may be changes in (i) the frequency or severity of Host protection requests for contractual reimbursement under our protection plan, (ii) the frequency or severity of Guest requests for protection services and roadside assistance services under our protection plan, and (iii) changes in our ability to collect amounts due from Guests in return for our provision of these value added services, any of which could negatively affect our business, results of operations and financial condition.

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***The coverage afforded under the auto liability insurance policy and our business insurance policy may be inadequate for the needs of our business or our third-party insurer may be unable or unwilling to meet our coverage requirements, which could materially adversely affect our business, results of operations, and financial condition.***

We use third-party insurance to manage exposures related to our business operations. Our overall spend on insurance has increased as our business has grown. We may experience increased difficulty in obtaining appropriate policy limits and levels of coverage at a reasonable cost and with reasonable terms and conditions. Our costs for obtaining these policies will continue to increase as our business grows and continues to evolve.

**Risks Related to Our Operations as a Whole**

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***The ongoing and prolonged COVID-19 pandemic has impacted our operations and results of operations and has had, and may continue to have, a material adverse effect on our business, growth prospects, financial condition, results of operations and/or cash flows.***

The global spread of the COVID-19 pandemic and its variants has created significant business uncertainty for us and others, resulting in volatility and economic disruption. Additionally, the outbreak has resulted in government authorities around the world implementing numerous lockdown measures to try to reduce the spread of COVID-19, such as travel bans and restrictions, quarantines, shelter-in-place, stay-at-home or total lock-down (or similar) orders and business limitations and shutdowns.

As a result of the COVID-19 pandemic, including the related responses from government authorities, our business and operations have been impacted, including by temporary closures of our offices, which has resulted in many of our employees continuing to work remotely. The travel industry in general has also been impacted by measures taken by governmental authorities to address the outbreak, including restrictions on travel, partial shelter-in-place orders, and other orders.

Moreover, ongoing or heightened resurgences of COVID-19 or its variants in the future, or the occurrence of another pandemic or other health crisis, could recreate or exacerbate the risks and adverse impacts described. While we believe consumers were eager to travel and saw RV travel as a safe mode of transportation and a safe way to vacation, resulting in a significant increase in demand for our service and a positive impact on our business and financial results for fiscal years 2020 and 2021, the future severity of the COVID-19 pandemic is difficult to predict and ever-evolving and our business operations, financial performance and results of operations could be further adversely affected in a number of ways related to the pandemic, including, but not limited to, the following:

● Reduced consumer demand for our listings and services and adverse effects on the discretionary spending patterns of our customers, including the ability of our gusts to spend money on vacations and use our services;

● RV manufacturers and their suppliers have experienced delays, and continue to experience delays, in obtaining certain raw material components and chassis. The operations of RV manufacturer suppliers around the world may continue to be disrupted, negatively impacting the supply of RVs in the marketplace and the ability to obtain additional listings;

● If the pandemic worsens, or reappears in future periods, our labor force may be negatively impacted by COVID-19 infections, which would negatively impact our operations;

● Further disruptions to our operations, including any additional closures of our offices and facilities, which may affect our ability to develop, market, and sell our product;

● Limitations on employee resources and availability, including due to sickness, government restrictions, the desire of employees to avoid contact with large groups of people or mass transit disruptions;

● A return to widespread restrictions on the movement of consumers or the shutdown of retail facilities, camping or other recreational destinations may negatively impact demand for our listings; and

● An increase in the cost or the difficulty of obtaining debt or equity financing, which could affect our ability to service our debt obligations or fund future investment opportunities.

Additionally, an increase in the number of employees working remotely due to the COVID-19 pandemic also increases the potential adverse impact of risk associated with information technology systems and networks, including cyber-attacks, computer viruses, malicious software, security breaches and telecommunication failures, both for systems and networks we control directly and for those that employees and third-party developers rely on to work remotely. Any failure to prevent or mitigate security breaches or cyber risks or detect, or respond adequately to, a security breach or cyber risk, or any other disruptions to our information technology systems and networks, could have significant adverse effects on our business.

The spread of COVID-19 has caused us to at times modify our business practices (including employee travel, employee work locations and cancellation of physical participation in meetings, events and conferences), all of which remain in effect, and we may take further actions as may be required by government authorities or that we determine are in the best interests of our employees, customers and business partners. Further, key personnel could contract COVID-19, hindering their availability and productivity.

The degree to which the prolonged COVID-19 pandemic impacts our operations, business, financial results, liquidity, and financial condition will depend on future developments, which are highly uncertain, continuously evolving and cannot be predicted. This includes, but is not limited to, the duration and spread of the pandemic, its severity, actions to contain the virus and/or its variants or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume.

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***We are reliant on the retention of certain key personnel and the hiring of strategically valuable personnel, and we may lose or be unable to hire one or more of such personnel*.**

Our success depends in part on the continued service of our founders, senior management team, key technical employees and other highly skilled personnel and on our ability to identify, hire, develop, motivate, retain, and integrate highly qualified personnel for all areas of our organization. Certain employees are in high demand, and we devote significant resources to attracting and retaining these employees. If we are unable to attract and retain the necessary personnel, particularly in critical areas of our business, we may not achieve our strategic goals. In addition, we do not carry key person insurance and if a key person died or became disabled or incapacitated, unable to perform their duties or left the Company, our operations and profitability may be negatively impacted.

***The success of our business relies heavily on our marketing and branding efforts, and these efforts may not be successful.***

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We rely heavily on marketing and advertising to increase brand visibility with potential Hosts and Guests. In particular, we rely on marketing to drive Guest traffic to our platform. We have invested considerable resources into establishing and maintaining our brand. We currently advertise through a blend of direct and indirect advertising channels, including through activities on Google AdWords, Microsoft Ads, Facebook, Instagram, Reddit, Pinterest, Twitter, Twitch, YouTube and other online social networks, digital advertising, public relations activity, and print and broadcast advertising. We recorded approximately $590,909 and $311,829 of advertising and promotion expenses for the fiscal years ended November 30, 2021 and 2020, respectively, and $552,896 for the nine months ended August 31, 2022.

Our ability to attract Hosts and Guests to our platform is dependent in part on the success of our marketing and branding efforts. If we are unable to recover our marketing costs, or if our broad marketing campaigns are not successful or are terminated, it could have a material adverse effect on our growth, results of operations and/or financial condition.

***We may be unsuccessful in our strategic acquisitions, in whole or in part, and other transactions, and we may pursue transactions for their strategic value in spite of the risk of lack of profitability.***

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Our success will depend, in part, on our ability to grow our core business and expand our capabilities in response to the demands of consumers and competitive pressures. In some circumstances, we may decide to grow through acquisitions of, or investments in, complementary businesses and technologies and through additional joint ventures, development agreements and other commercial agreements, rather than through internal development. We may be unable to identify suitable targets for these transactions or to complete the identified transactions on favorable terms or at all, and the process of identifying, negotiating and executing transactions may be costly and divert management time and focus from operating our business. If we identify suitable targets, our ability to realize a return on the resources expended pursuing such deals, to complete them, and to derive benefit from them will depend on a variety of factors, including, potentially, our ability to obtain financing on acceptable terms and requisite governmental approvals, and our ability to integrate products, personnel, systems and technologies efficiently. Additionally, we may decide to make or enter into strategic transactions with the understanding that such transactions will not be profitable, but which we believe may be of strategic value to us. Our current and future acquisitions and investments, including existing investments accounted for under the equity method, or other strategic agreements may also require that we make additional capital investments in the future, which would divert resources from other areas of our business. We cannot provide assurances that the anticipated strategic benefits of these deals will be realized in the long-term or at all.

We may also fail to identify or assess the magnitude of certain liabilities, shortcomings, litigation risks or other circumstances prior to entering into any transaction, and as such, we may not obtain sufficient warranties, indemnities or other protections. This could result in unexpected litigation expenses or regulatory exposure, unfavorable accounting treatment, unexpected increases in taxes, a loss of anticipated tax benefits or other adverse effects on our business, operating results and/or financial condition. Additionally, some warranties and indemnities may give rise to unexpected and significant liabilities. Future acquisitions and commercial arrangements that we may pursue could result in dilutive issuances of equity securities, the incurrence of further contingent debt liabilities, amortization expenses or the write-off of goodwill, any of which could harm our financial condition.

***Our business partners may be unable to honor their obligations to us or their actions may put us at risk.***

We rely on various business partners, including third-party service providers, vendors, and licensees in many areas of our business. Their actions may put our business and our reputation and brand at risk. For example, we may have disputes with our business partners that may impact our business and/or financial results. In many cases, our business partners may be given access to sensitive and proprietary information in order to provide services and support to our teams, and they may misappropriate our information and engage in unauthorized use of it. In addition, the failure of these third parties to provide adequate services and technologies, or the failure of the third parties to adequately maintain or update their services and technologies, could result in a disruption to our business operations. Further, disruptions in the financial markets, economic downturns, poor business decisions, insolvency, or reputational harm may adversely affect our business partners, and they may not be able to continue honoring their obligations to us or we may cease our arrangements with them. Alternative arrangements and services may not be available to us on commercially reasonable terms, or we may experience business interruptions upon a transition to an alternative partner or vendor. If we lose one or more significant business partners, including due to their insolvency or business failure, our business could be harmed and our financial results could be materially affected.

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***Because our success depends substantially on our ability to maintain a professional reputation, adverse publicity concerning us, one of our businesses, or our key personnel could adversely affect our business.***

Our brand and our reputation are among our most important assets. Maintaining and enhancing our brand and reputation is critical to our ability to attract Hosts, Guests, and employees, to compete effectively, and to preserve and deepen the engagement of our existing Hosts, Guests, and employees. We are heavily dependent on the perceptions of Hosts and Guests who use our platform to help make word-of-mouth recommendations that contribute to our growth.

Any decrease in the quality of our reputation could impair our ability to, among other things, recruit and retain qualified and experienced key personnel, and retain or attract Hosts and Guests. Our overall reputation may be negatively impacted by a number of factors, including negative publicity concerning us, members of our management or other key personnel. Any adverse publicity relating to such individuals or entities that we employ or represent, or to our Company, including from reported or actual incidents or allegations of illegal or improper conduct, such as harassment, discrimination or other misconduct, could result in significant media attention, even if not directly relating to or involving our Company, and could have a negative impact on our professional reputation. This could result in termination of contractual relationships, damage to our employees' ability to attract new customer or client relationships, or the loss or termination of such employees' services, all of which could adversely affect our business, financial condition and/or results of operations.

***Government regulations applicable to us may negatively impact our business.***

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We are subject to a number of foreign and domestic laws and regulations that affect companies conducting business on the Internet. In addition, laws and regulations relating to user privacy, electronic contracts and communications, mobile communications, data collection, retention, consumer protection and publishing activities, including production and delivery of content, advertising, localization, and information security have been adopted or are being considered for adoption by many jurisdictions and countries throughout the world. These laws, including the EU's General Data Protection Regulation ("GDPR") and the California Consumer Privacy Act ("CCPA"), which restrict our ability to gather and use data about our users, could harm our business by limiting the products and services we can offer consumers or the manner in which we offer them. Data privacy, data protection, localization, security and consumer-protection laws are evolving, and the interpretation and application of these laws in the U.S. (including compliance with the CCPA), Europe (including compliance with the GDPR), and elsewhere often are uncertain, contradictory and changing. It is possible that these regulatory initiatives may be interpreted or applied in a manner that is adverse to us or otherwise inconsistent with our practices, which could result in litigation, regulatory investigations and/or potential legal liability or require us to change our practices in a manner adverse to our business. As a result, our reputation and brand may be harmed, we could incur substantial costs, and we could lose both customers and revenues. Furthermore, the costs of compliance with these regulatory initiatives may increase in the future as a result of changes in interpretation. Any failure on our part to comply with these laws or the application of these laws in an unanticipated manner may harm our business and result in penalties or significant legal liabilities.

***Companies and governmental agencies may restrict access to platforms, our websites, mobile applications or the internet generally, which could lead to the loss or slower growth of our customer base.***

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Our customers generally need to access the Internet and platforms, such as the Apple App Store, Google Play Store, to access our platform. Companies and governmental agencies could block access to any platform, our websites, mobile applications or the internet generally for a number of reasons, such as security or confidentiality concerns or regulatory reasons, or they may adopt policies that prohibit employees from accessing Apple, Google, our website or any platform. If companies or governmental entities block or limit access or otherwise adopt policies restricting customers from accessing our websites, our business could be negatively impacted and we could lose or experience slower growth in our customer base.

***Catastrophic events may disrupt our business.***

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Natural disasters, cyber-incidents, weather events, wildfires, power disruptions, telecommunications failures, public health outbreaks, such as the prolonged COVID-19 pandemic and its variants, failed upgrades of existing systems or migrations to new systems, acts of terrorism or other force majeure type events could cause outages, disruptions and/or degradations of our infrastructure, including our information technology and network systems, a failure in our ability to conduct normal business operations, or the closure of public spaces in which renters may vacation and utilize RVs. The health and safety of our employees, consumers, third-party organizations with whom we partner or regulatory agencies on which we rely could be also affected, which may prevent us from executing our business strategies or cause a decrease in consumer demand for our platform and listings. For example, as a result of the COVID-19 pandemic, including the related responses from government authorities, our business and operations have been impacted, including by temporary closures of our offices, which has resulted in many of our employees continuing to work remotely. System redundancy may be ineffective and our disaster recovery and business continuity planning may not be sufficient for all eventualities. Such failures, disruptions, closures or an inability to conduct normal business operations could also prevent access to our online platforms, cause delays or interruptions in our listings, allow breaches of data security or result in the loss of critical data. An event that results in the disruption or degradation of any of our critical business functions or information technology systems and harms our ability to conduct normal business operations or causes a decrease in consumer demand for our platform and listings could materially impact our reputation and brand, financial condition and/or operating results.

***We are, and may in the future be, subject to legal proceedings in the ordinary course of our business. In addition, as a public company, we will be at an increased risk of securities class action litigation.***

We are subject to various legal proceedings, claims, litigation and government investigations or inquiries from time to time, which could have a material adverse effect on our business, results of operations and/or financial condition. Claims arising out of actual or alleged violations of law could be asserted against us by individuals, either individually or through class actions, by governmental entities in civil or criminal investigations and proceedings or by other parties. These claims could be asserted under a variety of laws, including but not limited to consumer finance laws, consumer protection laws, intellectual property laws, privacy laws, labor and employment laws, securities laws and employee benefit laws. These actions could expose us to adverse publicity and to substantial monetary damages and legal defense costs, injunctive relief and criminal and civil fines and penalties, including, but not limited to suspension or revocation of licenses to conduct business.

In addition, securities class action litigation has historically often been brought against a company following a decline in the market price of its securities. If we were to be sued, it could result in substantial costs and a diversion of management's attention and resources, which could harm our business.

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***We are subject to risks related to corporate and social responsibility and our reputation.***

Many factors influence our reputation, including the perception held by our customers, business partners, and other key stakeholders. As we become a public company, we expect to face increasing scrutiny related to environmental, social, and governance activities. We risk damage to our reputation if we fail to act responsibly in a number of areas, such as diversity and inclusion, environmental stewardship, supply chain management, climate change, workplace conduct, human rights, and philanthropy. Any harm to our reputation could impact employee engagement and retention and the willingness of customers and our partners to do business with us, which could have a material adverse effect on our business, results of operations and/or cash flows.

***Host, Guest, or third-party actions that are criminal, violent, inappropriate, or dangerous, or fraudulent activity, may undermine our ability to attract and retain Hosts and Guests and materially adversely affect our reputation, business, results of operations, and financial condition.***

We have no control over or ability to predict the actions of our users and other third parties, and therefore, we cannot guarantee the safety of our Hosts, Guests, and third parties. The actions of Hosts, Guests, and other third parties could result in fatalities, injuries, other bodily harm, fraud, invasion of privacy, property damage, discrimination, brand and reputational damage, which could create potential legal or other substantial liabilities for us. We do not verify the identity of all of our Hosts and Guests, nor do we verify or screen third parties who may be in the vehicle during the reservation made through our platform. Our identity verification processes rely on, among other things, information provided by Hosts and Guests, and our ability to validate that information and the effectiveness of third-party service providers that support our verification processes may be limited. In addition, we do not currently and may not in the future require users to re-verify their identity following their successful completion of the initial verification process. Certain verification processes, including legacy verification processes on which we previously relied, may be less reliable than others. Moreover, we do not run criminal background checks or any other screening processes on Hosts, Guests, nor third parties who may be present during a reservation made through our platform.

In addition, we have not in the past and may not in the future undertake to independently verify the safety, suitability, quality, compliance with RVnGO policies or standards, of all our Hosts' listings. We have in the past relied, and may in the future, rely on Hosts and Guests to disclose information relating to their listings and such information may be inaccurate or incomplete. We have created policies and standards to respond to issues reported with listings, but certain listings may pose heightened safety risks to individual users because those issues have not been reported to us or because our customer support team has not taken the requisite action based on our policies. We rely, at least in part, on reports of issues from Hosts and Guests to investigate and enforce many of our policies and standards. In addition, our policies may not contemplate certain safety risks posed by listings or individual Hosts or Guests or may not sufficiently address those risks.

If Hosts, Guests, or third parties engage in criminal activity, misconduct, fraudulent, negligent, or inappropriate conduct or use our platform as a conduit for criminal activity, consumers may not consider our platform and the listings on our platform safe, and we may receive negative media coverage, or be subject to involvement in a government investigation concerning such activity, which could adversely impact our brand and reputation, and lower the adoption rate of our platform.

The methods used by perpetrators of fraud and other misconduct are complex and constantly evolving, and our trust and security measures have been, and may currently or in the future be, insufficient to detect and help prevent all fraudulent activity and other misconduct; for example:

● malicious Hosts have created fake listings and induced Guests who inquired about renting the listing to leave the RVnGO platform and fraudulently transact outside the RVnGO platform, leaving the Guest no recourse;

● there have been incidents where Hosts have misrepresented the quality of their RVs, in some instances to provide to Guests different and inferior RVs;

● there have been incidents where Guests have caused substantial property damage to listings or misrepresented the purpose of their use of the RV and used listings for unauthorized or inappropriate conduct including parties, sex work, drug-related activities, or to perpetrate criminal activities;

● there have been instances where users with connected or duplicate accounts have circumvented or manipulated our systems, in an effort to evade account restrictions, create false reviews, or engage in fraud or other misconduct; and

● situations have occurred where Hosts or Guests mistakenly or unintentionally provide malicious third parties access to their accounts, which has allowed those third parties to take advantage of our Hosts and Guests.

If criminal, inappropriate, fraudulent, or other negative incidents continue to occur due to the conduct of Hosts, Guests, or third parties, our ability to attract and retain Hosts and Guests would be harmed, and our business, results of operations, and financial condition would be materially adversely affected. We have obtained some third-party insurance, which is subject to certain conditions and exclusions, for claims and losses incurred based on incidents related to bookings on our platform. Even where we do have third-party insurance, such insurance may be inadequate to fully cover alleged claims of liability, investigation costs, defense costs, and/or payouts. Even if these claims do not result in liability, we could incur significant time and cost investigating and defending against them. As we expand our offerings, or if the quantity or severity of incidents increases, our insurance rates and our financial exposure will grow, which would materially adversely affect our business, results of operations, and financial condition.

**Risks Related to Technology and Intellectual Property**

***If our security measures are breached or fail and unauthorized access is obtained to a customer's data, our service may be perceived as insecure, the attractiveness of our services to current or potential customers may be reduced, and we may incur significant liabilities.***

Our services involve the web-based storage and transmission of customers' information. We rely on proprietary and commercially available systems, software, tools and monitoring, as well as other processes, to provide security for processing, transmission and storage of such information. Because of the sensitivity of this information and due to requirements under applicable laws and regulations, the effectiveness of our security efforts is very important. If our security measures are breached or fail as a result of third-party action, acts of terror, social unrest, employee error, malfeasance or for any other reasons, someone may be able to obtain unauthorized access to customer data. Improper activities by third-parties, advances in computer and software capabilities and encryption technology, new tools and discoveries and other events or developments may facilitate or result in a compromise or breach of our security systems. Our security measures may not be effective in preventing unauthorized access to the customer data stored on our servers. If a breach of our security occurs, we could face damages for contract breach, penalties for violation of applicable laws or regulations, possible lawsuits by individuals affected by the breach and remediation costs and efforts to prevent future occurrences. In addition, whether there is an actual or a perceived breach of our security, the market perception of the effectiveness of our security measures could be harmed and we could lose current or potential customers.

***We use opensource software in connection with certain of our services, which may pose particular risks to our proprietary technology infrastructure, software, products and services.***

We use opensource software in our platform and expect to use opensource software in the future. The terms of various opensource licenses have not been interpreted by U.S. courts, and there is a risk that such licenses could be construed in a manner that imposes unanticipated conditions or restrictions on our ability to market our software and services. By the terms of certain opensource licenses, we could be required to release the source code of our proprietary technology infrastructure, and to make our proprietary technology infrastructure available under opensource licenses, if we combine our proprietary technology infrastructure with opensource software in a certain manner. If portions of our proprietary technology infrastructure are determined to be subject to an opensource license, we could be required to publicly release the affected portions of our source code, or to re-engineer all or a portion of our technologies or otherwise be limited in the licensing of our technologies, each of which could reduce or eliminate the value of our technologies and services. In addition to risks related to license requirements, usage of opensource software can lead to greater risks than use of third-party commercial software, as opensource licensors generally do not provide warranties or controls on the origin of the software. Many of the risks associated with usage of opensource software cannot be eliminated and could negatively affect our business, operating results, and/or financial condition.

***If we experience a significant disruption in service to our platform from loss of server capacity, lack of sufficient internet bandwidth, or any other reason, we could lose sales and consumer traffic, and our business and reputation could suffer.***

Our brands, reputation, and ability to attract consumers or visitors depend on the reliable performance of our website, platform, and the supporting systems, technology, data and infrastructure, including data servers, many of which are owned and controlled by third parties. We may experience significant interruptions with our systems in the future. Interruptions in these systems, whether due to loss of server capacity, lack of sufficient internet bandwidth, system failures, programming or configuration errors, computer viruses or physical or electronic break-ins, including through computer viruses, malware, ransomware, phishing, misrepresentation, social engineering, forgery, denial of service attacks or other cybersecurity attacks, could affect, prevent or inhibit the ability of customers to access our website and platform, or the ability for us to run our business. Problems with the reliability or security of our systems could harm our reputation, result in a loss of customers and sales and result in additional costs, which could be significant.

Problems faced by our third-party web hosting providers could adversely affect the experience of our customers. For example, our third-party web hosting providers could close their facilities without adequate notice. Any financial difficulties, up to and including bankruptcy, faced by our third-party web hosting providers or any of the service providers with whom they contract may have negative effects on our business, the nature and extent of which are difficult to predict. If our third-party web hosting providers are unable to keep up with our growing capacity needs, our business could be harmed.

Any errors, defects, disruptions or other performance or reliability problems with our network operations could interrupt our customers' access to our website and online platform, as well as cause delays and additional expenses in arranging access to alternative services, any of which could harm our reputation, business, operating results and/or financial condition.

***Our data privacy and security practices may be inadequate, or may be perceived as being inadequate, to prevent data breaches, ransomware or other cyber-attacks, or under the applicable data privacy and security laws generally.***

In the course of our business, we collect, process, store and use user and other information, including personally identifiable information, passwords and payment card information, user profile and usage information, as well as information that is proprietary to our business. Our security controls, policies, and practices may not be able to prevent the improper or unauthorized access, acquisition, encryption or disclosure of such information. The unauthorized access, acquisition, encryption or disclosure of this information, or a perception that we do not adequately secure this information, could result in legal liability, costly remedial measures, governmental and regulatory investigations, harm our profitability and reputation and cause our financial results and/or our financial condition to be materially affected. In addition, third-party vendors and business partners receive access to such information that we collect. These vendors and business partners may not prevent cybersecurity breaches with respect to the information we provide to them or they may fail to fully enforce our policies, contractual obligations and disclosures regarding the collection, use, storage, transfer, and retention of such information. A data security breach or cyber-attack suffered by one of our vendors or business partners could cause reputational harm to them and/or negatively impact our credibility to our customer base. A data security breach or cyber-attack could also significantly damage our reputation with Hosts, Guests and other third parties, and could result in significant costs related to remediation efforts, such as credit or identity theft monitoring.

The interpretation of privacy and data protection laws and their application to evolving technologies, including user profiling, behavioral tracking and data analytics, is unclear and subject to rapid change in numerous jurisdictions. There is a risk that these laws may be interpreted and applied in a manner that is not consistent with our data protection practices, which could result in additional compliance or changes in our business practices, or both, and financial penalties or sanctions under these laws.

Legislatures, regulators and government enforcement actions worldwide are enacting, amending, enforcing and imposing significant fines against companies for data privacy and cybersecurity violations. Our business operations involve the collection, transfer, use, disclosure, security and disposal of personal or sensitive information in various locations around the world, including in the U.S., where federal and state laws, such as the CCPA, impose data privacy requirements, statutory damages and a limited private right of action, and other jurisdictions across the globe that have enacted, or are enacting, national data protection laws.

As we expand our operations into new jurisdictions, the costs associated with compliance with applicable local data privacy laws and regulations may increase. It is possible that government or industry regulation in these markets will require us to deviate from our standard processes and/or make changes to our products, services and operations, which would increase our operational costs and risks.

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***We may fail to adequately protect our intellectual property, technology and confidential information.***

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Our business depends on our intellectual property, technology, and confidential information, the protection of which is crucial to the success of our business. We rely on a combination of registrations, common law rights, trade secrets and know-how protections, patent applications for non-trade secret inventions and contractual restrictions under confidentiality and invention assignment agreements that we enter into with our employees and consultants to protect our intellectual property, technology, and confidential information. These agreements may not effectively grant all necessary rights to any intellectual property that may have been developed by the employees and consultants. In addition, these agreements may not effectively prevent unauthorized use or disclosure of our inventions, or other proprietary information, intellectual property or technology and may not provide an adequate remedy in the event of unauthorized use or disclosure of our confidential information, intellectual property or technology.

In addition, although we take steps to enforce and police our rights, unauthorized parties may attempt to copy aspects of our website features, software, and functionality or obtain and use information that we consider to be proprietary. The proliferation of technology designed to circumvent the protection measures used by our business partners or by us, the availability of broadband access to the internet, the refusal of internet service providers or platform holders to remove infringing content in certain instances, and the proliferation of online channels through which infringing product is distributed all may contribute to an expansion in unauthorized copying of our technology, content, and brand.

We currently license or hold rights to domain names associated with our business. The regulation of domain names in the U.S. and in other countries is subject to change. Regulatory bodies could establish additional top-level domains, appoint additional domain name registrars, or modify the requirements for holding domain names. As a result, we may not be able to acquire or maintain all domain names that are otherwise important for our business.

***The costs of enforcing our intellectual property rights could have an adverse effect on our business.***

We pursue the registration of our copyrights, trademarks, service marks, and domain names in the U.S. This process can be expensive and time-consuming, may not always be successful depending on local laws or other circumstances, and we also may choose not to pursue registrations in every location depending on the nature of the project to which the intellectual property rights pertain.

Litigation may be necessary to enforce our intellectual property rights, protect our trade secrets or determine the validity and scope of proprietary rights claimed by others. Any litigation of this nature, regardless of outcome or merit, could result in substantial costs, adverse publicity, and diversion of management and technical resources, any of which could adversely affect our business, financial condition and/or results of operations. If we fail to maintain, protect and enhance our intellectual property rights, our business, financial condition and/or results of operations may be harmed.

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***We could face liability for information or content on or accessible through our platform.***

We could face claims relating to information or content that is published or made available on our platform. Our platform relies upon content that is created and posted by Hosts, Guests, or other third parties. Although content on our platform is typically generated by third parties, and not by us, claims of defamation, disparagement, negligence, warranty, personal harm, intellectual property infringement, or other alleged damages could be asserted against us, in addition to our Hosts and Guests. While we rely on a variety of statutory and common-law frameworks and defenses, including those provided by the Digital Millennium Copyright Act ("DMCA"), the Communications Decency Act ("CDA"), the fair-use doctrine in the United States, differences between statutes, limitations on immunity, requirements to maintain immunity, and moderation efforts in the many jurisdictions in which we operate may affect our ability to rely on these frameworks and defenses, or create uncertainty regarding liability for information or content uploaded by Hosts and Guests or otherwise contributed by third-parties to our platform. Moreover, regulators in the United States may introduce new regulatory regimes that increase potential liability for information or content available on our platform. For example, in the United States, laws such as the CDA, which have previously been interpreted to provide substantial protection to interactive computer service providers, may change and become less predictable or unfavorable by legislative action or juridical interpretation. There have been various federal legislative efforts to restrict the scope of the protections available to online platforms under the CDA, in particular with regards to Section 230 of the CDA, and current protections from liability for third-party content in the United States could decrease or change. There is proposed U.S. federal legislation seeking to hold platforms liable for user-generated content, including content related to RV rentals. We could incur significant costs investigating and defending such claims and, if we are found liable, significant damages.

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***Our platform is highly complex, and any undetected errors could materially adversely affect our business, results of operations, and financial condition.***

Our platform is a complex system composed of many interoperating components and software. Our business is dependent upon our ability to prevent system interruption on our platform. Our software, including opensource software that is incorporated into our code, may now or in the future contain undetected errors, bugs, or vulnerabilities. Some errors in our software code have not been and may not be discovered until after the code has been released. We have, from time to time, found defects or errors in our system and software limitations that have resulted in, and may discover additional issues in the future that could result in, platform unavailability or system disruption. For example, defects or errors have resulted in and could result in the delay in making payments to Hosts or overpaying or underpaying Hosts, which would impact our cash position and may cause Hosts to lose trust in our payment operations. Any errors, bugs, or vulnerabilities discovered in our code or systems released to production or found in third-party software, including opensource software, that is incorporated into our code, any misconfigurations of our systems, or any unintended interactions between systems could result in poor system performance, an interruption in the availability of our platform, incorrect payments, negative publicity, damage to our reputation, loss of existing and potential Hosts and Guests, loss of revenue, liability for damages, a failure to comply with certain legal or tax reporting obligations, and regulatory inquiries or other proceedings, any of which could materially adversely affect our business, results of operations, and financial condition.

**Risks Related to Our Indebtedness, Financial Condition, and Financial Reporting**

***We have incurred significant losses since our inception, and we may continue to experience losses in the future.***

We have not been profitable since our inception. We incurred net losses of $3,429,834 and $2,705,811 for the fiscal years ended November 30, 2021 and 2020 respectively. We incurred net losses of $6,377,124 and $2,097,353 for the nine months ended August 31, 2022 and 2021, respectively. We expect to continue to incur losses in the near term as we invest in and strive to grow our business. For example, we expect to make significant investments to further develop and expand our business, and these investments may not result in increased revenues or growth on a timely basis or at all. If we are unable to generate adequate revenue growth and manage our expenses, we may continue to incur significant losses in the future and may not be able to achieve or maintain profitability.

In the second quarter of 2022, the Company incurred a one-time expense of $1,475,765 as a result of the Exchange Offer and the resulting exchange of certain shares of the Company's Series B common stock for shares of the Company's Series A common stock, which was effected in connection with the Corporate Reorganization. This stock-based compensation modification valuation was based on a third-party valuation study to account for the change in fair value at the date of the exchange.

***Our limited operating history makes it difficult to evaluate our current business and future prospects, and we may not be able to effectively grow our business or implement our business strategies, which could have a material adverse effect on our business.***

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RVnGO was founded in 2015. As such, RVnGO does not have a long history operating as a commercial company. Due to this and other factors, our operating results are highly unpredictable. We believe that our ability to grow our business will depend on many risks and uncertainties, including our ability to:

● leverage the current demand for RV rentals in the current COVID-19 environment;

● develop new sources of revenue;

● expand our brand awareness;

● further improve the quality of our platform, services, and offering;

● expand into new geographic regions; and

● continue to offer a relevant platform for listings at an attractive cost and high quality to meet the increasing demand of our RV renters and owners.

There can be no assurance that we will meet these objectives. Addressing these risks and uncertainties will require significant expenditures and allocation of valuable management and employee resources. We have hired and expect to continue hiring additional personnel to support our business growth. Our organizational structure is becoming more complex as we add staff, and as a result, we will need to improve our operational, financial and management controls, as well as our reporting systems and procedures. We will require significant expenditures and the allocation of valuable management resources to grow and change in these areas without undermining our corporate culture. If we cannot manage our growth effectively, our business could be harmed, and our results of operations and/or financial condition could be materially and adversely affected.

***There is substantial doubt about our ability to continue as a going concern.***

As of August 31, 2022 and November 30, 2021, we had cash of $339,707 and $447,502, respectively. We expect our existing cash as of August 31, 2022, together with proceeds from this offering will enable us to fund our operating expenses and operations for at least 12 months from the date of this prospectus. If we are unable to obtain additional financing, we may be unable to continue as a going concern. There is no guarantee that we will be able to secure additional financing, including in connection with this offering. Changes in our operating plans, our existing and anticipated working capital needs, costs related to legal proceedings we might become subject to in the future, the acceleration or modification of our development activities, any near-term or future expansion plans, increased expenses, potential acquisitions or other events may further affect our ability to continue as a going concern. Similarly, the report of our independent registered public accounting firm on our financial statements as of and for the year ended November 30, 2021 includes an explanatory paragraph indicating that there is substantial doubt about our ability to continue as a going concern. If we cannot continue as a viable entity, our stockholders may lose some or all of their investment in us.

***Following this offering, we may require additional capital to meet our financial obligations and to support our business growth, and this capital might not be available on acceptable terms or at all.***

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We intend to continue to make significant investments to support our business growth and may require additional funds following this offering to improve our operations and respond to business challenges, including the need to develop products, improve our sales and marketing activities, improve our operating infrastructure and acquire complementary or strategic businesses, technologies and personnel. Accordingly, we may need to engage in additional equity or debt financings to secure additional funds. If we raise additional funds through future issuances of equity (including preferred stock) or convertible debt securities, our existing stockholders could suffer significant dilution, and any new equity securities we issue could have rights, preferences and/or privileges superior to those of holders of our Class A common stock, including, without limitation, with respect to the payment of dividends and the payment of liquidating distributions. Any future debt financing could require compliance with restrictive covenants relating to our capital raising activities and other financial and operational matters, which may make it more difficult for us to obtain additional capital and to pursue business opportunities, including potential acquisitions. Additionally, any future indebtedness we incur may be secured by some or all of our assets, and, if we default under such secured indebtedness, a secured creditor were to declare all of the indebtedness then outstanding immediately due and payable, and we were unable to pay such amounts, our assets would be available to secured creditors to satisfy our secured borrowing obligations.

Because our decision to issue debt or preferred securities in any future offering and/or to borrow money from lenders will depend in part on market conditions and other factors in existence at that time beyond our control, we cannot predict or estimate the amount, timing or nature of any such future offerings or borrowings. We may not be able to obtain additional financing on terms favorable to us, or at all. If we are unable to obtain adequate financing or financing on terms satisfactory to us when we require it, our ability to continue to support our business growth and to respond to business challenges could be significantly impaired, and our business may be materially harmed. Holders of our Class A common stock will bear the risk of any such future offerings or borrowings.

***Our operations and our results of operations vary from quarter to quarter, so our financial performance in certain financial quarters may not be indicative of, or comparable to, our financial performance in other financial quarters.***

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The RV and travel industries are cyclical, with the highest levels of consumer demand occurring in warmer weather months. While many factors may impact this cyclicality, we generally have experienced and expect to continue to experience the strongest revenues during the third quarter of each fiscal year. Accordingly, we may report lower revenues during the first and fourth quarter of each year, compared to quarterly revenues for the second and third quarter of the prior or same year. However, because our results may vary significantly from quarter-to-quarter or year-to-year, our financial results for one quarter or one year cannot necessarily be compared to another quarter or year and may not be indicative of our future financial performance in subsequent quarters or years.

***Our results of operations and financial condition are subject to management's accounting judgments and estimates, as well as changes in accounting policies.***

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Financial statements prepared in accordance with U.S. GAAP typically require the use of good faith estimates, judgments and assumptions that affect the reported amounts. The preparation of our financial statements requires us to make estimates and assumptions affecting the reported amounts of our assets, liabilities, revenues and expenses. If these estimates or assumptions are incorrect, it could have a material adverse effect on our results of operations and/or financial condition. We have identified several accounting policies as being "critical" to the fair presentation of our financial condition and results of operations because they involve major aspects of our business and require us to make judgments about matters that are inherently uncertain. These policies are described in "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" and the notes to our financial statements included in this prospectus. The implementation of new accounting requirements or other changes to U.S. GAAP could have a material adverse effect on our reported results of operations and/or financial condition.

***We are subject to unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns.***

We are currently subject to taxes in the United States. Our future effective tax rates could be subject to volatility or adversely affected by a number of factors, including:

● changes in the valuation of our deferred tax assets and liabilities;

● expected timing and amount of the release of any tax valuation allowances;

● expiration of, or detrimental changes in, research and development tax credit laws;

● changes in tax laws, regulations or interpretations thereof; or

● expansion into or future activities in additional jurisdictions.

In addition, we may be subject to audits of our income, sales and other transaction taxes in various jurisdictions. Outcomes from these audits could have an adverse effect on our operating results and/or financial condition.

***We are an EGC and a smaller reporting company ("SRC"), and we cannot be certain if the reduced disclosure requirements applicable to us will make our Class A common stock less attractive to investors.***

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We are an EGC, as defined in the JOBS Act, and we expect to take advantage of certain exemptions and relief from various reporting requirements that are applicable to other public companies that are not EGCs. In particular, while we are an EGC, we will not be required to comply with the auditor attestation requirements of Section 404(b) of SOX, we will be exempt from any rules that could be adopted by the U.S. Public Company Accounting Oversight Board requiring mandatory audit firm rotations or a supplement to the auditor's report on financial statements; we will be subject to reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements; and we will not be required to hold non-binding advisory votes on executive compensation or stockholder approval of any golden parachute payments not previously approved.

In addition, while we are an EGC, we can take advantage of an extended transition period for complying with new or revised accounting standards. This allows an EGC to delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of this extended transition period and, as a result, our operating results and financial statements may not be comparable to the operating results and financial statements of companies that have adopted the new or revised accounting standards.

We may remain an EGC until the last day of the fiscal year following the 5<sup>th</sup> anniversary of completing this offering, although we may cease to be an EGC earlier under certain circumstances, including if: (i) we have $1.07 billion or more in annual revenues in any fiscal year; (ii) we become a "large accelerated filer," as defined in Rule 12b-2 under the Exchange Act; or (iii) we issue more than $1.0 billion of non-convertible debt over a 3-year period.

We are also an SRC as defined in the Exchange Act. We may continue to be an SRC even after we are no longer an EGC. We may take advantage of certain of the scaled disclosures available to SRCs and will be able to take advantage of these scaled disclosures for so long as our voting and non-voting common stock held by non-affiliates is less than $250 million measured on the last business day of our second fiscal quarter, or our annual revenue is less than $100 million during the most recently completed fiscal year and our voting and non-voting common stock held by non-affiliates is less than $700 million measured on the last business day of our second fiscal quarter. Similar to EGCs, SRCs that are non-accelerated filers are exempt from the auditor attestation requirements of Section 404(b) of SOX.

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

***If we fail to maintain proper and effective internal controls over financial reporting, our ability to produce accurate and timely financial statements could be impaired.***

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After completing this offering, we will be subject to a requirement, pursuant to Section 404 of SOX, to conduct an annual review and evaluation of our internal control over financial reporting and furnish a report by management on, among other things, our assessment of the effectiveness of our internal control over financial reporting each fiscal year beginning with the year following our first annual report required to be filed with the SEC. However, for as long as we are an EGC or an SRC that is a non-accelerated filer, our independent registered public accounting firm will not be required to attest to the effectiveness of our internal control over financial reporting pursuant to Section 404 of SOX. Ensuring that we have adequate internal control over financial reporting in place so that we can produce accurate financial statements on a timely basis is a costly and time-consuming effort that must be evaluated frequently. Establishing and maintaining these internal controls will be costly and may divert management's attention.

If we fail to achieve and maintain the adequacy of our internal control over financial reporting, as such standards are modified, supplemented or amended from time to time, we may not be able to ensure that we can conclude, on an ongoing basis, that we have effective internal control over financial reporting in accordance with Section 404 of SOX. If we do not adequately implement or comply with the requirements of Section 404 of SOX, we may be subject to sanctions or investigation by regulatory authorities, such as the SEC, or suffer other adverse regulatory consequences, including penalties for violation of Nasdaq rules. As a result, there could be a negative reaction in the financial markets due to a loss of confidence in the reliability of our financial statements. In addition, we may be required to incur costs to improve our internal control system, including the costs of the hiring of additional personnel. Any such action could negatively affect our business, financial condition, results of operations and/or cash flows and could also lead to a decline in the price of our Class A common stock.

***The requirements of being a public company may require significant resources and divert management's attention.***

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After we become a public company, we will be subject to certain ongoing reporting requirements. Compliance with these requirements will increase our compliance and audit costs, make some activities more difficult, time-consuming or costly and increase demands on our resources. The requirements may also make it more expensive for us to obtain director and officer liability insurance, and we may be required to accept reduced coverage or incur substantially higher costs to obtain coverage. These factors could also make it more difficult for us to attract and retain qualified members of our board of directors and qualified officers.

In addition, changing laws, regulations and standards relating to corporate governance and public disclosure create uncertainty for public companies, increasing legal and financial compliance costs and making some activities more time consuming. These laws, regulations and standards are subject to varying interpretations, in many cases due to their lack of specificity, and, as a result, their application in practice may evolve over time as new guidance is provided by regulatory and governing bodies. This could result in continuing uncertainty regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices.

**Risks Related to This Offering and Ownership of Our Class A Common Stock**

***We have convertible debt that will be converted into Class A common stock upon the closing of this offering, which will cause immediate and substantial dilution to our stockholders.***

 ****

Between January 8, 2022 and February 28, 2022, we entered into, issued, and sold convertible promissory notes to certain investors in the aggregate principal amount of $1.755 million (the "Convertible Notes"). Upon the closing of this offering, the outstanding principal and accrued interest under the Convertible Notes will automatically (and without any action on the part of the note holders) be converted into shares of our Class A common stock at a conversion price equal to 60% of the initial public offering price of our Class A common stock. The issuance of shares of Class A common stock upon conversion of the Convertible Notes will result in dilution to the interests of other stockholders.

 **

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

 **

We will have considerable discretion in the application of the net proceeds of this offering. We intend to use the net proceeds from this offering for repayment of all of the Bridge Notes and for working capital and general corporate purposes, which could include, without limitation, expenditures for research and development, sales and marketing activities, recruiting and retaining employees, funding future strategic transactions and other business opportunities, and other corporate expenditures. See *"Use of Proceeds"* for additional information. Our management will have considerable discretion in the application of the net proceeds of this offering, and you will not have the opportunity, as part of your investment decision, to assess whether the proceeds are being used appropriately. We may use the net proceeds for purposes that do not yield a significant return or any return at all for our stockholders. In addition, pending their use, we may invest the net proceeds from this offering in a manner that has a negative impact on our results of operations and/or financial condition.

***There is no existing market for our Class A common stock, and we cannot ensure that one will ever develop or be sustained.***

 ****

Prior to this offering there was no trading market for our Class A common stock. We cannot predict the extent to which investor interest in our Company will lead to the development of a trading market for our Class A common stock or how liquid that market might become. The offering price for the shares of our Class A common stock has been determined by us in connection with this offering, which may not be indicative of the price that will prevail in any trading market following this offering. While we have applied to list our Class A common stock on [The Nasdaq Capital Market], if an active trading market does not develop or is not maintained, the market price and liquidity of our Class A common stock may be adversely affected. In that case, you may not be able to sell your Class A common stock shares at a particular time, at a favorable price or at all.

***Our certificate of incorporation will have limitations on the liability of our directors, and we may have to indemnify our officers and directors in certain instances.***

Our certificate of incorporation will limit the liability of directors to the maximum extent permitted by Delaware law. Delaware law provides that directors of a corporation will not be personally liable for monetary damages for breach of their fiduciary duties as directors, except for liability for any:

● breach of their duty of loyalty to us or our stockholders;

● act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;

● unlawful payments of dividends or unlawful stock repurchases or redemptions as provided in Section 174 of the Delaware General Corporation Law; or

● transactions for which the directors derived an improper personal benefit.

These limitations of liability will not apply to liabilities arising under the federal or state securities laws and will not affect the availability of equitable remedies, such as injunctive relief or rescission. Our bylaws provide that we will indemnify our directors, officers and employees to the fullest extent permitted by law. Our bylaws will also provide that we are obligated to advance expenses incurred by a director or officer in advance of the final disposition of any action or proceeding. We believe that these bylaw provisions are necessary to attract and retain qualified persons as directors and officers. The limitation of liability in our certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against directors for a breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation against our directors and officers, even though an action, if successful, might provide a benefit to us and our stockholders. Our results of operations and financial condition may be harmed to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.

***Certain provisions in our charter documents and under Delaware law could limit attempts by our stockholders to replace or remove our board of directors or current management and limit the market price of our Class A common stock.***

 ****

Provisions in our certificate of incorporation and bylaws may have the effect of delaying or preventing changes in our board of directors or management. Our certificate of incorporation and bylaws include provisions that:

● establish an advance notice procedure for stockholder proposals to be brought before an annual meeting, including proposed nominations of persons for election to our board of directors;

● prohibit cumulative voting in the election of directors; and

● reflect two classes of common stock, as discussed above.

These provisions may frustrate or prevent any attempts by our stockholders to replace or remove our current management by making it more difficult for stockholders to replace members of our board of directors, which is responsible for appointing certain members of our management. In addition, because we are incorporated in Delaware, we are governed by the provisions of Section 144 of the Delaware General Corporate Law, which generally prohibit a Delaware corporation from engaging in any of a broad range of business combinations with any "interested" stockholder for a period of three years following the date on which the stockholder became an "interested" stockholder.

***Our charter documents and by-laws provide that the state courts of the State of Delaware will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.***

 ****

There is uncertainty as to whether a court would enforce such provisions, and the enforceability of similar choice of forum provisions in other companies' charter documents has been challenged in legal proceedings. While the Delaware courts have determined that such choice of forum provisions are facially valid, a stockholder may nevertheless seek to bring a claim in a venue other than those designated in the exclusive forum provisions, and there can be no assurance that such provisions will be enforced by a court in those other jurisdictions. We note that investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder. If a court were to find these types of provisions to be inapplicable or unenforceable, and if a court were to find the exclusive forum provision in our certificate of incorporation and bylaws to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving any such dispute in other jurisdictions, which could materially adversely affect our business, financial condition, and/or results of operations.

***Our stock price may be volatile.***

 ****

The trading price of our Class A common stock following this offering may fluctuate substantially and may be higher or lower than the initial public offering price. The trading price of our Class A common stock following this offering will depend on several factors, including those described in this "*Risk Factors*" section, many of which are beyond our control and may or may not be related to our operating performance. These fluctuations could cause you to lose all or part of your investment in our Class A common stock because you might be unable to sell your shares at or above the price you paid in the offering or at all. Factors that could cause fluctuations in the trading price of our Class A common stock include, among many others:

● changes to our industry, including demand and regulations;

● our ability to compete successfully against current and future competitors;

● competitive pricing pressures;

● our incurrence of debt, which could be significant, and our ability to obtain sufficient liquidity to fund our operations and debt service requirements;

● additions or departures of key personnel;

● sales of our Class A common stock;

● our ability to execute our business plan;

● operating results, cash flows, and financial condition that fall below expectations;

● our loss of any strategic relationship;

● any major change in our management;

● changes in accounting standards, procedures, guidelines, interpretations or principles; and/or

● economic, geo-political and other external factors, such as inflation, a higher interest rate environment, or higher levels of unemployment.

In addition, the stock market in general, and the market for technology companies in particular, have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of those companies. Broad market and industry factors, as well as general economic, political and market conditions, such as recessions, inflation, higher interest rates or higher unemployment rates, may seriously affect the market price of our Class A common stock, regardless of our actual operating performance. These fluctuations may be even more pronounced in the trading market for our stock shortly following this offering. If the market price of our Class A common stock after this offering does not exceed the initial public offering price, you may not realize any return on your investment in us and may lose some or all of your investment.

***If you purchase shares of our Class A common stock in our initial public offering, you will experience substantial and immediate dilution.***

 ****

The initial public offering price will be substantially higher than the net tangible book value per share of our outstanding common stock immediately after completing this offering. Based on the assumed initial public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this prospectus, if you purchase shares of Class A common stock in this offering, you will experience substantial and immediate dilution in the pro forma as adjusted net tangible book value per share of $ per share as of , 2023. That is because the price that you pay will be substantially greater than the pro forma net tangible book value per share of the Class A common stock that you acquire. For more information, see *"Dilution"* and "*Description of Capital Stock—Common Stock—Additional Shares Issuable After this Offering*."

***Substantial future sales of our Class A common stock, or the perception that such sales may occur, could depress the price of our Class A common stock.***

 ****

Sales of substantial amounts of our Class A common stock in the public market after this offering, or the perception that these sales could occur, could adversely affect the price of our Class A common stock and could impair our ability to raise capital through the sale of additional shares. The shares of our Class A common stock offered in this offering will be freely tradable without restriction under the Securities Act, except for any shares of our Class A common stock that may be held or acquired by our directors, executive officers and other affiliates (as that term is defined in the Securities Act), which may not be sold in the public market unless the sale is registered under the Securities Act or an exemption from registration is available.

Our executive officers, directors and certain of our significant stockholders entered into separate agreements whereby, without the prior written consent of Boustead Securities, LLC, they will not, subject to limited exceptions, directly or indirectly sell or dispose of any shares of our Class A common stock or any securities convertible into or exchangeable or exercisable for shares of our Class A common stock for a period of twelve months after the date of this prospectus with certain exceptions and provided that after the initial six months following the date of this offering, stockholders subject to the lock-up will have limited ability to resell shares subject to certain limitations. See "*Underwriting—No Sales of Common Stock*" for additional information. After these lock-up agreements expire, additional shares of our Class A common stock may become eligible for sale in the public market upon the satisfaction of certain conditions as set forth therein, of which shares would be held by affiliates and subject to the volume and other restrictions of Rule 144 under the Securities Act.

***If securities industry analysts do not publish research reports on us, or publish unfavorable reports on us, then the market price and market trading volume of our Class A common stock could be negatively affected.***

 ****

Any trading market for our Class A common stock will be influenced in part by any research reports that securities industry analysts publish about us. We do not currently have and may never obtain research coverage by securities industry analysts. If no securities industry analysts commence coverage of us, the market price and market trading volume of our Class A common stock could be negatively affected. If we are covered by analysts, and one or more of such analysts downgrade our securities, or otherwise report on us unfavorably, or discontinue coverage of us, the market price and market trading volume of our Class A common stock could be negatively affected.

***The dual class structure of our common stock may adversely affect the trading market for our Class A common stock.***

 ****

In July 2017, S&P Dow Jones and FTSE Russell announced changes to their eligibility criteria for the inclusion of shares of public companies on certain indices, including the Russell 2000, the S&P 500, the S&P MidCap 400 and the S&P SmallCap 600, to exclude companies with multiple classes of shares of common stock from being added to these indices. As a result, our dual class capital structure (with each Class B share having, following the closing of this offering, 10 votes versus one vote for our Class A shares) would make us ineligible for inclusion in any of these indices, mutual funds, exchange-traded funds and other investment vehicles that attempt to passively track these indices would not be investing in our Class A common stock. Furthermore, we cannot assure you that other stock indices will not take a similar approach to S&P Dow Jones or FTSE Russell in the future. Exclusion from these indices could make our Class A common stock less attractive to investors and, as a result, the market price of our Class A common stock could be adversely affected.

***We do not intend to pay dividends for the foreseeable future.***

 ****

We have never declared nor paid cash dividends on our capital stock. We currently intend to retain any future earnings to finance the operation and expansion of our business, and we do not expect to declare or pay any dividends in the foreseeable future. Accordingly, investors must rely on sales of their Class A common stock after price appreciation, which may never occur, as the only way to realize any future gains on their investments in our Class A common stock.

***Our Directors, Officers and Principal Stockholders control the direction of our business and their ownership of our Class A common stock and Class B common stock will prevent you and other stockholders from influencing significant decisions.***

 ****

Upon the closing of this offering, our directors, officers, and principal stockholders will own 8,100,000 shares of our Class B common stock and shares of our Class A common stock, which together will represent approximately of the combined voting power of both classes of our common stock outstanding immediately after this offering (or approximately % if the underwriters exercise in full their option to purchase additional shares of our Class A common stock). Our Class B common stock will have, following the closing of this offering, 10 votes per share, whereas our Class A common stock has and will continue to have one vote per share, and except as required by law and as otherwise provided in our certificate of incorporation, the shares of our Class A and Class B common stock will vote together as a single class on all matters submitted to stockholders. Our certificate of incorporation further provides that an affirmative vote of the holders two-thirds of the outstanding shares of Class B common stock, voting as a separate class, in addition to any other vote required by Delaware Law or our certificate of incorporation, directly or indirectly, whether by amendment, or through merger, recapitalization, consolidation or otherwise, amend or repeal, or adopt any provision of our certificate of incorporation inconsistent with, or otherwise alter, any provision of our certificate of incorporation that modifies the voting, par value, rights, powers, preferences, special rights, privileges or restrictions of our Class B common stock.

As long as this group of directors, officers, and principal stockholders continue to control a majority of the voting power of our outstanding common stock, they will generally be able to determine the outcome of all corporate actions requiring stockholder approval, including the election and removal of directors, and, in turn, our senior management. Even if they were to control less than a majority of the voting power of our outstanding common stock, they collectively may be able to influence the outcome of such corporate actions so long as they own a significant portion of our common stock.

Investors in this offering will not be able to affect the outcome of any stockholder vote while such group of directors, officers, and principal stockholders control the majority of the voting power of our outstanding common stock. As a result, they will be able to control, directly or indirectly and subject to applicable law, all matters affecting us, including:

● any determination with respect to our business direction and policies, including the appointment and removal of officers and directors;

● any determinations with respect to mergers, business combinations or acquisitions or dispositions of our assets;

● compensation and benefit programs and other human resources policy decisions;

● the payment of dividends and other distributions on our common stock; and

● determinations with respect to tax matters.

***We will be a "controlled company" within the meaning of Nasdaq's rules and, as a result, will qualify for exemptions from certain corporate governance requirements. We do not currently expect or intend to rely of any of these exemptions, but there can be no assurance that we will not rely on these exemptions in the future.***

Upon completion of this offering, our directors, officers, and principal stockholders will continue to control a majority of the voting power of our outstanding common stock. As a result, we will be a "controlled company" within the meaning of the Nasdaq Listing Rules. Under these rules, a listed company of which more than 50% of the voting power is held by an individual, group or another company is a "controlled company" and may elect not to comply with certain corporate governance requirements, including:

● the requirement that a majority of our board of directors consist of independent directors;

● the requirement that our nominating and corporate governance committee be composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities;

● the requirement that our compensation committee be composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities; and

● the requirement for an annual performance evaluation of our corporate governance and compensation committees.

While we are not currently relying on any of these corporate governance exemptions, we may in the future avail ourselves of the flexibility that some or all of these exemptions offer. If we were to utilize these exemptions, in whole or in part (such as by not maintaining a majority of independent directors on our board of directors and/or not maintaining a fully independent compensation committee and/or nominating and corporate governance committee), you will not have the same protections afforded to stockholders of companies that are subject to all of the Nasdaq rules regarding corporate governance.

**Cautionary Note Regarding Forward-Looking Statements**

This prospectus contains certain statements, which are not historical facts and are "forward-looking statements" within the meaning of federal securities laws. These forward-looking statements are subject to certain risks, trends and uncertainties. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, strategies, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. We use words, such as "could," "would," "may," "might," "will," "expect," "likely," "believe," "continue," "anticipate," "estimate," "intend," "plan," "project" and other similar expressions to identify some forward-looking statements, but not all forward-looking statements include these words. For example, forward-looking statements include statements we make relating to:

● our belief that we are in the early stages of capitalizing on the many potential revenue opportunities that exist across the expanding RVnGO platform;

● our belief that trends in RV rental demand and consumer sentiment will combine to provide a robust and positive backdrop for the continued growth of the RV industry, including RV rentals and the services provided by the Company;

● our belief that certain effects of the COVID-19 pandemic on the RV rental industry will be long-lasting, including increased demand from those that were introduced to RVing during the pandemic;

● our expectation that, with the return of mass events, the demand for RVing will continue to be strong;

● our expectation to have all of our operations centered around the United States this year, with expansion into Canada in coming years and possible expansion into Western Europe, Australia and New Zealand in the future;

● our expectation that trends in the consolidation of the global travel industry will continue as companies attempt to strengthen or hold their market positions in a highly competitive industry;

● our belief that both individual Hosts and fleet Hosts will be required to meet growing demand and that our focus on both types of Hosts uniquely positions us in the industry;

● our estimates regarding the size of our addressable markets, market share and market trends;

● our expectations regarding our ability to attract and retain Hosts and Guests;

● our expectations regarding the continued improvement of our technology platform and product experience;

● our ability to implement an efficient protection plan dispute processing system;

● our projected financial position and estimated cash burn rate;

● our estimates regarding expenses, future revenues and capital requirements;

● our ability to continue as a going concern;

● our need to raise substantial additional capital to fund our operations;

● our ability to compete in the RV industry;

● our ability to protect our intellectual property rights and the potential for us to incur substantial costs from lawsuits to enforce or protect our intellectual property rights;

● the success of competing products or services that are or become available;

● the effects of seasonal trends on our results of operations;

● our ability to expand our organization to accommodate potential growth and our ability to retain and attract key personnel;

● the potential for us to incur substantial costs resulting from lawsuits against us and the potential for these lawsuits to cause us to limit our commercialization of our products and services; and

● our intended use of the net proceeds from this offering.

These and other forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The forward-looking statements contained in this prospectus are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors that we believe are appropriate under the circumstances. As you read and consider this prospectus, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond our control) and assumptions that are difficult to predict. Examples of such risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements made by us include, but are not limited, to those disclosed under the sections entitled "*Risk Factors*" and "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" and elsewhere this prospectus. Accordingly, any forward-looking statements attributable to us, or persons acting on our behalf, are qualified in their entirety by these cautionary statements, as well as cautionary statements elsewhere in this prospectus. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in our future filings with the SEC.

Factors other than those referred to above could also cause our results to differ materially from expected results. We caution you that the important factors referenced above may not contain all of the factors that are important to you. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and should not be relied upon as representing our plans and expectations as of any subsequent date. Except as required by law, we undertake no obligation, and we specifically disclaim any intention or obligation, to update any forward-looking statement contained in this prospectus to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, except as otherwise required by law. New factors that could cause our business not to develop as we expect emerge from time to time, and it is not possible for us to predict all of them. Further, we cannot assess the impact of each currently known or new factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We anticipate that subsequent events and developments may cause our plans, intentions and expectations to change.

**Use of Proceeds**

We estimate that our net proceeds from the sale of our Class A common stock that we are offering in this prospectus will be approximately $ million, or approximately $ million if the underwriters exercise in full their option to purchase additional shares of our Class A common stock, assuming an initial public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

A $1.00 increase (decrease) in the assumed initial public offering price of $ per share of our Class A common stock, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase (decrease) the net proceeds to us from our initial public offering by $ million, assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same, after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

We intend to use the net proceeds from this offering for repayment of all of the Bridge Notes and for working capital and general corporate purposes, which could include, without limitation, expenditures for research and development, sales and marketing activities, recruiting and retaining employees, funding future strategic transactions and other business opportunities, and other corporate expenditures. Pending these uses, we may invest the net proceeds from this offering in short-term, investment-grade, interest-bearing securities, such as money market accounts, certificates of deposit, commercial paper and guaranteed obligations of the U.S. government.

As of August 31, 2022, we had approximately $1,800,000 aggregate principal amount of Bridge Notes outstanding, which we intend to repay in full upon the closing of this offering. The Bridge Notes issued under the May 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or June 30, 2023, whichever occurs first. The Bridge Notes issued under the September 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or October 31, 2025, whichever occurs first. The proceeds from the issuance of the Bridge Notes were used for working capital and general corporate purposes.

This expected use of the net proceeds from this offering represents our intentions based upon our current financial condition, results of operations, business plans and conditions. As of the date of this prospectus, we cannot predict with certainty all of the particular uses for the net proceeds to be received upon the closing of this offering or the amounts that we will actually spend on the uses set forth above. The amounts and timing of our actual expenditures may vary significantly depending on numerous factors. As a result, our management will retain broad discretion over the allocation of the net proceeds from this offering.

**Dividend Policy**

We currently intend to retain all available funds and any future earnings to fund the development and growth of our business and, therefore, we do not anticipate paying any cash dividends in the foreseeable future. Any future determination to pay dividends will be at the discretion of our board of directors, subject to compliance with Delaware law governing the payment of lawful dividends, as well as covenants in current and future agreements governing our and our subsidiaries' indebtedness, and will depend on our results of operations, financial condition, capital requirements, contractual arrangements and other factors that our board of directors deems relevant.

**Capitalization**

The table below shows our cash and cash equivalents and capitalization as of August 31, 2022:

● on an actual basis;

● on a pro forma basis to give effect to (1) the automatic conversion of the Convertible Notes into an aggregate of shares of our Class A common stock, the conversion of which will occur immediately prior to the completion of this offering and (ii) the issuance of the Bridge Notes under the September 2022 Bridge Loan Documents;

● on a pro forma as adjusted basis to additionally give effect to (1) the pro forma adjustment described above; (2) the sale of shares of our Class A common stock in this offering, assuming an initial public offering price of $ per share (which is the midpoint of the price range set forth on the cover page of this prospectus), after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us; and (3) the repayment of the Bridge Notes as described under "Use of Proceeds."

You should read the following information together with the information contained under the headings "*Selected Historical Financial Data*" and "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" and our financial statements and the accompanying notes appearing elsewhere in this prospectus.

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| | | | |
|:---|:---|:---|:---|
|  | **As of August 31, 2022** | **As of August 31, 2022** | **As of August 31, 2022** |
|  | **Actual**<br>**(Unaudited)** | **Pro Forma**<br>**(Unaudited)** | **Pro Forma As Adjusted**<br>**(Unaudited)** |
| Cash and cash equivalents | $339707 | $| $|
| Long-term Debt (1): |  |  |  |
| &nbsp;&nbsp;&nbsp;Convertible Notes | $1606521 | $| $|
| Stockholders' equity: |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A common stock, $0.0001 par value; 150,000,000 shares authorized and 36,471,994 shares issued and 33,610,663 shares outstanding, actual; 150,000,000 shares authorized and shares issued and outstanding, pro forma; and 150,000,000 shares authorized and shares issued and outstanding, pro forma, as adjusted | 3647 |  |  |
| &nbsp;&nbsp;&nbsp;Class B common stock, $0.0001 par value; 20,000,000 shares authorized and 14,929,767 shares issued and 13,569,767 shares outstanding, actual; 20,000,000 shares authorized and shares issued and outstanding, pro forma; and 20,000,000 shares authorized and shares issued and outstanding, pro forma, as adjusted | 1493 |  |  |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 13526071 |  |  |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (16947196) |  |  |
| &nbsp;&nbsp;&nbsp;Treasury stock, at cost | (355133) |  |  |
| &nbsp;&nbsp;&nbsp;Total stockholders' equity | (3771118) |  |  |
| Total capitalization | $(2164597) | $| $|

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Long-term debt does not
 include amounts due under the Bridge Notes, which are classified as current liabilities on the Company's balance sheet. As of
 August 31, 2022, the Company had approximately $1,800,000 aggregate principal amount of Bridge Notes outstanding, which the Company
 intends to repay in full upon the closing of this offering. See "Use of Proceeds" for additional
 information.

The number of shares of our Class A common stock and Class B common stock to be outstanding immediately after this offering is based on shares of our Class A common stock and shares of our Class B common stock outstanding as of , 2023, and excludes the following:

● 7,526,710 shares of our Class A common stock issuable upon the exercise of options to purchase shares of our Class A common stock that were outstanding as of , 2023, with a weighted-average exercise price of $0.34 per share, pursuant to the Incentive Compensation Plan;

● 10,955,951 shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock that were outstanding as of , 2023, with a weighted-average exercise price of $0.26 per share; and

● shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock that we will issue to Boustead Securities, LLC in connection with this offering (representing an aggregate of 7% of the aggregate number of the shares sold in this offering at an exercise price equal to 100% of the offering price of the shares sold in this offering);

● &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of our Class A common stock issuable upon the exercise of the Boustead Convertible Note Warrants at an exercise price equal to the Conversion Price;

● 375,000 shares of our Class A common stock issuable upon the vesting of restricted stock units to be awarded to each of our current non-employee directors in connection with this offering ; and

● 1,909,376 shares of our Class A common stock reserved for future issuance under the Incentive Compensation Plan.

**Dilution**

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

Our pro forma net tangible book value as of August 31, 2022 was $ million, or $ per share of common stock. Our pro forma net tangible book value per share represents the amount of our total tangible assets less our total liabilities, divided by the number of our shares of common stock outstanding as of August 31, 2022, after giving effect to (1) the automatic conversion of the Convertible Notes into an aggregate of shares of our Class A common stock, the conversion of which will occur immediately prior to the completion of this offering and (ii) the issuance of the Bridge Notes under the September 2022 Bridge Loan Documents.

After giving effect to the sale by us of shares of Class A common stock in this offering at an assumed initial public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this prospectus, after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us, our pro forma as adjusted net tangible book value as of August 31, 2022 would have been $ million, or $ per share. This amount represents an immediate dilution of $ per share to new investors purchasing Class A common stock in this offering. We determine dilution by subtracting the pro forma as adjusted net tangible book value per share after this offering from the initial public offering price per share paid by investors purchasing Class A common stock in this offering. The following table illustrates this dilution on a per share basis:

---

| | |
|:---|:---|
| Assumed initial public offering price per share | $|
| &nbsp;&nbsp;&nbsp;Pro forma net tangible book value per share as of August 31, 2022 |  |
| &nbsp;&nbsp;&nbsp;Increase in pro forma as adjusted net tangible book value per share attributable to new investors purchasing shares in this offering | $|
| &nbsp;&nbsp;&nbsp;Pro forma as adjusted net tangible book value per share after giving effect to this offering | $|
| Dilution per share to new investors in this offering | $|

---

The dilution information discussed above is illustrative only and may change based upon the actual initial public offering price and other terms of this offering. A $1.00 increase (decrease) in the assumed initial public offering price of $ per share of Class A common stock, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase (decrease) our pro forma as adjusted net tangible book value per share after this offering by $ per share and increase (decrease) the dilution to new investors by $ per share, in each case assuming the number of shares of Class A common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

If the underwriters exercise their option to purchase additional shares of our Class A common stock from us in full, our pro forma as adjusted net tangible book value would be $ per share, and the dilution in pro forma net tangible book value per share to new investors in this offering would be $ per share.

The following table summarizes the pro forma as adjusted basis described above, the differences between the number of shares purchased from us, the total consideration paid and the weighted-average price per share paid to us by our existing stockholders and by new investors purchasing shares in this offering at the assumed initial public offering price of $ per share, before deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares Purchased** | **Shares Purchased** | **Total Consideration** | **Total Consideration** | **Weighted-**<br> **Average Price per Share** |
|  | **Number** | **Percent** | **Percent** | **Percent** | |
| Existing stockholders% |  |  | $nan% |  | $|
| New investors in this offering |  | % |  | % | $|
| Total |  | 100.0% | $— | 100.0% |  |

---

A $1.00 increase (decrease) in the assumed initial public offering price of $ per share of Class A common stock, which is the midpoint of the price range set forth on the cover page of this prospectus, would increase (decrease) the total consideration paid by new investors by $ million and, in the case of an increase, would increase the percentage of total consideration paid by new investors to % and, in the case of a decrease, would decrease the percentage of total consideration paid by new investors to %, in each case assuming that the number of shares of Class A common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

If the underwriters exercise their option to purchase additional shares of our Class A common stock from us in full, existing stockholders would own % and our new investors would own % of the total number of shares of our Class A common stock outstanding upon the completion of this offering.

The number of shares of our Class A common stock and Class B common stock to be outstanding immediately after this offering is based on shares of our Class A common stock and shares of our Class B common stock outstanding as of , 2023, and excludes the following:

● 7,526,710 shares of our Class A common stock issuable upon the exercise of options to purchase shares of our Class A common stock that were outstanding as of , 2023, with a weighted-average exercise price of $0.34 per share, pursuant to the Incentive Compensation Plan;

● 10,955,951 shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock that were outstanding as of , 2023, with a weighted-average exercise price of $0.26 per share; and

● shares of our Class A common stock issuable upon the exercise of warrants to purchase shares of our Class A common stock that we will issue to Boustead Securities, LLC in connection with this offering (representing an aggregate of 7% of the aggregate number of the shares sold in this offering at an exercise price equal to 100% of the offering price of the shares sold in this offering);

● 375,000 shares of our Class A common stock issuable upon the exercise of the Boustead Convertible Note Warrants at an exercise price equal to the Conversion Price;

● shares of our Class A common stock issuable upon the vesting of restricted stock units to be awarded to each of our current non-employee directors in connection with this offering ; and

● 1,909,376 shares of our Class A common stock reserved for future issuance under the Incentive Compensation Plan.

To the extent that options or other securities are issued under our equity incentive plans, or we issue additional shares of our Class A common stock or securities convertible into Class A common stock in the future, there will be further dilution to investors participating in this offering. In addition, we may choose to raise additional capital because of market conditions or strategic considerations, even if we believe that we have sufficient funds for our current or future operating plans. If we raise additional capital through the sale of equity or convertible securities, the issuance of these securities could result in further dilution to our stockholders.

**Selected Historical Financial Data**

The following selected historical financial data should be read in conjunction with "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" and the financial statements and related notes included within this prospectus. The selected historical statements of operations data for the years ended November 30, 2020 and 2021 and the selected historical balance sheet data as of November 30, 2021 presented below have been derived from our audited financial statements included elsewhere in this prospectus. The selected historical statements of operations data for the nine months ended August 31, 2021 and 2022 and the selected historical balance sheet data as of August 31, 2022 presented below have been derived from our unaudited interim financial statements included elsewhere in this prospectus. The results of operations for the periods presented below are not necessarily indicative of the results to be expected for any future period.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Year Ended November 30, | Year Ended November 30, | Nine Months Ended August 31, | Nine Months Ended August 31, |
|  | 2020 | 2021 | 2021 | 2022 |
|  | | | (Unaudited) | (Unaudited) |
| Revenue | $133983 | $338967 | $291418 | $313690 |
| Cost of revenue | 143841 | 415105 | 296523 | 534579 |
| Gross profit (loss) | (9858) | (76138) | (5105) | (220889) |
| Operating expenses | (2668241) | (3465859) | (2088161) | (6136007) |
| Loss from operations | (2678099) | (3541997) | (2093266) | (6356896) |
| Other income (expense) | (27712) | 112163 | (4087) | (20228) |
| Loss before income taxes | (2705811) | (3429834) | (2097353) | (6377124) |
| Provision for income taxes |  |  |  |  |
| Net loss(1) | $(2705811) | $(3429834) | (2097353) | (6377124) |
| Weighted average shares outstanding | 36962143 | 43663795 | 42672964 | 47155029 |
| Net loss per share – basic and diluted | $(0.07) | $(0.08) | $(0.05) | $(0.14) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) In
 the second quarter of 2022, the Company incurred a one-time expense of $1,475,765 as a result of the Exchange Offer and the resulting
 exchange of certain shares of the Company's Series B common stock for shares of the Company's Series A common stock, which
 was effected in connection with the Corporate Reorganization. This stock-based compensation modification valuation was based on a third-party
 valuation study to account for the change in fair value at the date of the exchange.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of**<br> **November 30, 2021** | **As of**<br> **August 31, 2022** | **As of**<br> **August 31, 2022** | **As of**<br> **August 31, 2022** |
|  | **Actual** | **Actual** | **Pro Forma<sup>(1)</sup>** | **Pro Forma as<br> Adjusted <sup>(2)(3)</sup>** |
|  | | **(Unaudited)** | **(Unaudited)** | |
| **Balance Sheet Data:** |  |  |  |  |
| Cash | $447502 | $339707 | $| $|
| Working capital<sup>(4)</sup> | $479000 | $(2167097) | $| $|
| Total assets | $1050120 | $805489 | $| $|
| Total liabilities | $564870 | $4579107 | $| $|
| Accumulated deficit | $(10570072) | $(16947196) | $| $|
| Total equity | $485250 | $(3771118) | $| $|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 pro forma column in the balance sheet data table above reflects (i) the net issuance of shares of our Class A common stock upon the
 conversion of the Convertible Notes immediately prior to the closing of this initial public offering (based on the assumed initial
 public offering price of $ per share, which is the midpoint of the price range set forth on the cover page of this
 prospectus); and (ii) stock-based compensation expense of [$] related to stock options granted under
 the Equity Plan for which the service-based vesting condition was satisfied or partially satisfied as of August 31, 2022,
 reflected as an increase to additional paid-in capital and accumulated deficit.

(2) The
 pro forma as adjusted column reflects: (i) the pro forma adjustments set forth in footnote (1) above; and (ii) the sale of shares
 of our Class A common stock in this offering at an assumed initial public offering price per share of $[ ], which
 is the midpoint of the price range set forth on the cover page of this prospectus, after deducting estimated underwriting discounts
 and commissions and estimated offering expenses payable by us.

(3) The
 pro forma as adjusted information discussed above is illustrative only and will depend on the actual initial public offering price
 and other terms of this offering determined at pricing. Each $1.00 increase or decrease in the assumed initial public offering price
 per share of $, which is the midpoint of the price range set forth on the cover page of this prospectus, would
 increase or decrease, as applicable, each of our pro forma as adjusted cash, cash equivalents and marketable securities, working
 capital, total assets, additional paid-in capital, and total stockholders' equity by approximately $ million,
 assuming the number of shares of Class A common stock offered by us, as set forth on the cover page of this prospectus, remains the
 same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us. Similarly,
 each 1.0 million share increase or decrease in the number of shares of Class A common stock offered in this offering would increase
 or decrease, as applicable, each of our pro forma as adjusted cash, cash equivalents and marketable securities, working capital,
 total assets, additional paid-in capital, and total stockholders' equity by approximately $ million, assuming
 that the initial public offering price per share remains at $, which is the midpoint of the price range set forth
 on the cover page of this prospectus, and after deducting estimated underwriting discounts and commissions and estimated offering
 expenses payable by us.

(4) We
 define working capital as current assets less current liabilities.

**Key Business Metrics**

We review the following key business metrics to measure our performance, identify trends, formulate financial projections, and make strategic decisions. We are not aware of any uniform standards for calculating these key metrics, which may hinder comparability with other companies that may calculate similarly titled metrics in a different way.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fiscal year ended<br> November 30 | Fiscal year ended<br> November 30 | |  |
|  | 2020 | 2021 | Nine Months Ended<br>August 31, 2022 |  |
| Nights Booked | 2572 | 6547 | 6403 |  |
| Gross Bookings | $828541 | $1442469 | $1465279 |  |
| Revenue | $133983 | $338967 | $313690 | (3) |
| Loss from operations | $(2678099) | $(3541997) | $(6356896) |)(3)(4) |

---

(1) Nights Booked on our platform in a period represents the sum of the total number of nights fulfilled for rentals that occurred in that period.

(2) Gross Bookings represents the dollar value of bookings on our platform in a period and is inclusive of Host earnings, service fees, cleaning fees, and taxes, net of cancellations and alterations that occurred during that period.

(3) Revenue and Loss from operations are unaudited for the period of nine months ended August 31, 2022.

(4) In the second quarter of 2022, the Company incurred a one-time expense of $1,475,765 as a result of the Exchange Offer and the resulting exchange of certain shares of the Company's Series B common stock for shares of the Company's Series A common stock, which was effected in connection with the Corporate Reorganization. This stock-based compensation modification valuation was based on a third-party valuation study to account for the change in fair value at the date of the exchange.

The following quarterly information has not been audited or reviewed by the Company's independent registered public accounting firm.

**Quarterly Statements of Operations (Unaudited)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| **Revenue** | $**13333** | $**5257** | $**67162** | $**48229** | $**34613** | $**80999** | $**175804** | $**47549** | $**29842** | $**74510** | $**209338** |
| **Costs and expenses** |  |  |  |  |  |  |  |  |  |  |  |
| **Cost of revenue** | **24025** | **25756** | **61320** | **32739** | **46073** | **55301** | **195148** | **118582** | **171444** | **81907** | **281227** |
| **Sales and marketing** | **185473** | **125772** | **239261** | **241004** | **215032** | **249577** | **374134** | **469650** | **798703** | **518020** | **422974** |
| **General & administrative** | **189932** | **424862** | **645601** | **468627** | **275808** | **453315** | **439940** | **759574** | **937818** | **2331896** | **765687** |
| **Research and development** | **27132** | **39050** | **29024** | **52498** | **44235** | **45869** | **57385** | **81341** | **120170** | **116883** | **123857** |
| **Total costs and expenses** | **426562** | **615440** | **975207** | **794870** | **581148** | **804062** | **1066607** | **1429147** | **2028135** | **3048706** | **1593745** |
| **Loss from operations** | **(413229)** | **(610185)** | **(908044)** | **(746640)** | **(546535)** | **(723063)** | **(890803)** | **(1381598)** | **(1998293)** | **(2974196)** | **(1384407)** |
| **Net other income (expenses)** | **0** | **(7200)** | **(11135)** | **(9376)** | **(498)** | **(2450)** | **(580)** | **115690** | **118623** | **(32373)** | **(106478)** |
| **Net loss** | $**(413229)** | $**(617384)** | $**(919179)** | $**(756016)** | $**(547033)** | $**(725513)** | $**(891383)** | $**(1265908)** | $**(1879670)** | $**(3006569)** | $**(1490885)** |

---

**Quarterly Statement of Operations, as a Percent of Revenue (Unaudited)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| Revenue | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Costs and expenses |  |  |  |  |  |  |  |  |  |  |  |
| Cost of revenue | 180 | 490 | 91 | 68 | 133 | 68 | 111 | 249 | 575 | 110 | 134 |
| Sales and marketing | 1391 | 2392 | 356 | 500 | 621 | 308 | 213 | 988 | 2676 | 695 | 202 |
| General & administrative | 1424 | 8081 | 961 | 981 | 797 | 560 | 250 | 1597 | 3143 | 3130 | 366 |
| Research and development | 203 | 743 | 43 | 109 | 128 | 57 | 33 | 171 | 403 | 157 | 59 |
| Total costs and expenses | 3199 | 11706 | 1452 | 1648 | 1679 | 993 | 607 | 3006 | 6796 | 4092 | 761 |
| Loss from operations | (3099) | (11606) | (1352) | (1548) | (1579) | (893) | (507) | (2906) | (6696) | (3992) | (661) |
| Net other income (expenses) | 0 | (137) | (17) | (19) | (1) | (3) | (0) | 243 | 398 | (43) | (51) |
| Net loss | (3099)% | (11744)% | (1369)% | (1568)% | (1580)% | (896)% | (507)% | (2662)% | (6299)% | (4035)% | (712)% |

---

**Quarterly Key Business Metrics (Unaudited)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| Nights Booked | 192 | 230 | 1139 | 1011 | 681 | 1356 | 2503 | 2007 | 912 | 1878 | 3613 |
| Gross Bookings | 34888 | 34122 | 438821 | 320706 | 117572 | 308548 | 675030 | 341316 | 270064 | 371430 | 823784 |

---

**Management's Discussion and Analysis of Financial Condition and Results of Operations**

*The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the information included under "Business" and our financial statements and the accompanying notes included elsewhere in this prospectus. The discussion and analysis below are based on comparisons between our historical financial data for different periods and include certain forward-looking statements about our business, operations and financial performance. These forward-looking statements are subject to risks, uncertainties, assumptions and other factors described in "Risk Factors." Our actual results may differ materially from those expressed in, or implied by, those forward-looking statements. See "Cautionary Note Regarding Forward-Looking Statements."*

 

**Overview of RVnGO**

**We believe in bringing people together and we are doing it with a free to Hosts person-to-person software platform for recreational vehicle rentals.**

We believe in bringing people closer together and we are doing it with a peer-to-peer (or person-to-person) marketplace solution for recreational vehicle ("RV") rentals, similar to Airbnb, but for RVs. Our features include:

● A free peer-to-peer platform with no listing or hosting fees to people who want to rent out their RVs, who we designate as "Hosts." There is a 3% processing fee paid by people who want to rent RVs, who we designate as "Guests." We do not charge any fees to Hosts.

● Complete business solution for an RV rental business, whether you have a fleet of one or 100 RVs.

● Compelling value-added services, like Guest and Host protection giving peace of mind for every transaction.

We currently generate revenues from (1) our 'protection plan,' which protects the Guest and the Host during the rental period for damage caused to the RV and provides $1 million auto liability coverage that we arranged with a third-party underwriter; (2) the processing fee paid by Guests and (3) optional 24/7 roadside assistance services. Our protection plan and 24/7 roadside assistance services are part of a broader set of value-added services that we provide, as discussed further below.

We conduct our business through our website www.RVnGO.com. We provide the software and access to customers desired by Hosts. We also make it easy for Guests to find exactly what they are looking for and book the RV as easily as they would any other rental vehicle. We then provide peace of mind to both our Hosts and Guests through value-added services on every rental transaction, including protecting the integrity of the transaction before it takes place if the transaction is cancelled or failure by the Host to deliver the RV, and then during the rental if there is damage caused to the RV during the rental, arranged auto liability coverage, and other optional add-ons such as 24/7 roadside assistance services.

We created a complete business platform including listing, lead generation, eCommerce solution, booking calendar, customer management and fleet management tools. We give the small business operator the software and access to markets and customers they need to run their RV rental business, and we made it all free to the Host.

We believe that we are in the early stages of capitalizing on the many potential revenue opportunities that exist across the expanding RvnGO platform, which includes our registered Guests, RVs listed for sale and for rent, and our Hosts, including fleets, using our platform to run their RV rental businesses.

RvnGO also provides complimentary services to the Guest and Host protecting the integrity of the transaction by providing a secure platform for Guests and Hosts to get together and arrange their RV rental transaction, and if there is a cancellation or inability by one party or another to fulfill the rental transaction, making the parties whole. If there are extenuating circumstances that frustrate the transaction beyond the control of the party, like a disease, a transportation disruption or damage suffered to the RV before a transaction, the Guest is fully refunded. We recognize that when a Guest reserves an RV and makes a deposit, that RV is taken out of the rental pool and the Host may not be able to re-rent the RV if the Guest cancels shortly before the start of the reservation. The Host for each RV has the option to choose between a 'strict' or 'flexible' cancellation policy. If the Hosts has a strict cancellation policy, the Guest gets a full refund (less processing fees) if they cancel 30 days or more before the start of the rental, but they forfeit the booking deposit (plus processing fees thereon) designated by the Host if they cancel between 30 and 7 days before the start of the rental and forfeit the full amount of the rental including processing fees if the cancellation is made within 7 days of the rental. If the Host selected a flexible cancellation plan, then the Guest gets a full refund (less processing fees) if cancellation is more than 7 days before the rental, but forfeit their booking deposit (plus processing fees thereon) if the cancellation is made within 7 days of the rental.

Before the COVID-19 pandemic, there was strong demand for RV rentals, and the RV rental industry was in an under-supply situation, with the demand for RVs exceeding the supply and most Hosts were in a sellout situation (taking into account time needed to repair, maintain and turn over RVs between rentals). Further, management believes the following trends combine to provide a robust and positive backdrop for the continued growth of the RV industry, including RV rentals and the services provided by the Company:

● Before
 the COVID-19 pandemic, based on our own estimates, we believe there was demand for
 up to $35 billion annually in RV rental transactions, swamping the then-existing 200,000-unit
 fleet that met only $5 billion of that demand annually.

● Currently,
 there are between one to ten million searches every month for the keyword 'RV rental'
 and closely related keywords according to Google keyword search trends (www.trends.google.com)
 over the last twelve months.

● Management
 believes that no one in the current market processes more than 5% of RV rental transactions
 directly or indirectly. The largest fleet operator is Cruise America, with an estimated 5,000
 units.

● The
 United States is estimated to represent about half of the market worldwide for RVs.

● In
 a 2021 study conducted by IPSOS for GoRVing, "RV Owner Demographic Profile Study",
 including general interest and purchase intentions, particularly from more youthful demographics
 such as Millennials and more traditional demographic groups associated with Rving,
 provide a positive long-term outlook for the RV industry.

**Key Business Metrics**

We track the following key business metrics to evaluate our performance, identify trends, formulate financial projections, and make strategic decisions. Accordingly, we believe that these key business metrics provide useful information to investors and others in understanding and evaluating our results of operations in the same manner as our management team. These key business metrics are presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled metrics or measures presented by other companies.

***Nights Booked***

Nights Booked is a key measure of the scale of our platform, which in turn drives our financial performance. Nights Booked on our platform in a period represents the sum of the total number of nights fulfilled for RV rentals. For example, a booking originally made in 2020 but starting on March 15, 2021 would be reflected in Nights Booked for our quarter ended May 31, 2021.

In 2021, we had 6,547 Nights Booked, 255% higher from 2,572 Nights Booked in 2020, which was 443% higher from 580 in 2019. Nights Booked grows as we attract new Hosts and Guests to our platform and as repeat Guests increase their activity on our platform. In the first nine months of 2022, we had 6,403 Nights Booked, which was 40% higher than the same period in the previous year.

![](formdrsa_008.jpg)

We experience seasonality in the number of Nights Booked. Typically, the third and fourth quarters of the year each have higher Nights Booked than the first two, as Guests plan for travel during the peak travel season, which is in the third and fourth quarters for the United States. Our bookings can also be impacted by the timing of holidays and other events as described in the subsection titled "*— Key Factors Affecting Our Performance — Seasonality*" below.

In 2020, our Nights Booked increased from prior levels, which we believe was significantly due, in part, to the COVID-19 pandemic, with more people gravitating toward vacation experiences within driving distance of their homes. Further detail is presented in the subsection titled "*—Impact of COVID-19*" below. In 2021, our Nights Booked continued to grow, reflecting the continued positive demand influence due to the COVID-19 pandemic and also reflecting the growth of our business with some of the positive impacts from the COVID-19 pandemic having waned in our industry. In the first nine months of 2022, we believe our Nights Booked grew primarily as a result of the growth of our business with the positive impacts of the COVID-19 pandemic on our industry in previous years having largely waned as the U.S. RV rental market returned to a new normal after the initial outbreak of the pandemic.

***Gross Bookings***

Gross bookings represent the dollar value of bookings on our platform in a period and is inclusive of Host earnings, service fees, cleaning fees, and taxes, net of cancellations and alterations that occurred during that period. The timing of recording gross bookings and any related cancellations is similar to that described in the subsection titled "*— Key Business Metrics — Nights Booked*" above. Revenue from the booking is recognized upon check-in; accordingly, gross bookings is a leading indicator of revenue. The entire amount of a booking is reflected in gross bookings during the quarter in which booking occurs, whether the Guest pays the entire amount of the booking upfront or elects to defer the balance until it is due by paying a booking deposit.

In 2021, we had gross bookings of $1,442,469, 74% higher from $828,541 in gross bookings in 2020, which was 1,593% higher from $48,921 in 2019. In the first nine months of 2022, we had $1,465,279 in gross bookings which was 33% higher than the same period in the previous year.

![](formdrsa_009.jpg)

We experience seasonality in our gross bookings that is consistent with the seasonality of Nights Booked. In 2021, Guests booked stays on average 16 days before check-in although there is variability based on seasonality and geography, compared to only 10 days before check-in in 2020. The average number of days between a booking and check-in tends to be shortest in the third quarter, as this represents the peak travel period in the United States, and longest in the first quarter.

Similar to our Nights Booked, in 2020 through the first nine months of 2022, we believe our growth in gross bookings was due to the same factors that caused our Nights Booked to grow.

We have experienced significant growth in the number of Hosts listing on our platform and number of Guests since the COVID-19 pandemic began, resulting in strong year-over-year growth rates in both Nights Booked and associated gross bookings.

The table below summarizes our financial metrics and non-financial metrics for our fiscal years in 2021 and 2020 and nine months ended August 31, 2022.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fiscal year ended November 30 | Fiscal year ended November 30 | |  |
|  | 2020 | 2021 | Nine Months Ended<br>August 31, 2022 |  |
| Nights Booked | 2572 | 6547 | 6403 |  |
| Gross Bookings | $828541 | $1442469 | $1465279 |  |
| Revenue | $133983 | $338967 | $313960 | (1) |
| Loss from operations | $(2678099) | $(3541997) | $(6356896) |)(1)(2) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Revenue and Loss from
 operations are unaudited for the nine months ended August 31, 2022

(2) In the second quarter
 of 2022, the Company incurred a one-time expense of $1,475,765 as a result of the Exchange Offer and the resulting exchange of certain
 shares of the Company's Series B common stock for shares of the Company's Series A common stock, which was effected in
 connection with the Corporate Reorganization. This stock-based compensation modification valuation was based on a third-party valuation
 study to account for the change in fair value at the date of the exchange.

**Impact of COVID-19**

The unprecedented and rapid spread of COVID-19 and the ongoing and prolonged government lockdown restrictions and social distancing measures implemented throughout the world have significantly impacted our business performance both positively and negatively. In response to the COVID-19 pandemic, we took decisive actions to help protect our employees. As a result, we sent our team members home on March 16, 2020 to work from home, and we have remained in a remote posture since. We have had employees diagnosed with the virus; fortunately, none were hospitalized although some have suffered symptoms for a protracted period.

The COVID-19 outbreak initially caused material harm to our businesses in March and April 2020 with investors that were considering an investment in RVnGO deferring any consideration. Starting in March 2020, industry tradeshows and industry events were cancelled as a consequence of the COVID-19 pandemic and related government responses, making it more difficult to promote our platform and services to our customers, particularly RV owners and RV rental fleet operators. Festivals and large public gatherings were also cancelled starting in March 2020, reducing the demand for RVing and RV rentals normally associated with those events. Further, reservations and trips already booked on our site were being cancelled wholesale, which required us to refund deposits. In April 2020, we were also forced to lay off a number of employees, apply temporary salary reductions and actively manage our cash outflows and operating expenses.

In May 2020, we began to see a dramatic reversal in consumer demand for RV rentals and our services. With the COVID-19-related restrictions that were placed on the travel industry, including hotels, cruise lines and similar forms of accommodation, RVs were seen as a safe and attractive alternative. Traffic to our site rebounded in May 2020 and continued to increase rapidly through the summer. According to Ahrefs.com, our organic traffic increased nine-fold from May 1, 2020 to September 1, 2020. Further, in the fall of 2021, we saw a partial resumption of tradeshows and in-person events while others have not yet resumed. Festivals and large public gatherings also started to resume to a limited extent in the summer and fall of 2021, resulting in some of the demand for RV rentals associated with those events returning. Since the start of the pandemic, we estimate from analytics provided by Ahrefs.com that our organic traffic has increased from about 500 organic users a month to more than 100,000 a month, with spot highs of more than 185,000. As a result, we saw a sixteen-fold increase in gross bookings and four-fold increase in revenue in fiscal year 2020 compared to fiscal year 2019, and nearly doubling again our revenue in fiscal year 2021 compared to fiscal year 2020. Gross profits also increased ten-fold in fiscal year 2020 compared to fiscal year 2019 and over two-fold again in fiscal year of 2021 compared to fiscal year 2020. In the first nine months of fiscal year 2022, we saw a return to a new normal, with the effects of the pandemic having largely waned in the United States in the RV rental industry, but with some long-term positive impacts remaining from the pandemic, such as increased RV rental market exposure, and, we believe, some long-term increased demand from users that were introduced to RVing during the pandemic.

More recently, new variants of COVID-19 such as the Omicron variant and its subvariants, that are significantly more contagious than previous strains, have emerged. The spread of these new strains initially caused many government authorities and businesses to reimplement prior restrictions in an effort to lessen the spread of COVID-19 and its variants; however, while many of these restrictions have been lifted, uncertainty remains as to whether additional restrictions may be initiated or again reimplemented in responses to surges in COVID-19 cases. Accordingly, while the COVID-19 pandemic has generally had a positive impact on our business since May 2020, such variants could once again cause serious disruption to our business and operations.

We continue to monitor the evolving situation caused by the COVID-19 pandemic, and we may take further actions required by governmental authorities or that we determine are prudent to support the well-being of our employees, customers, business partners and others. The degree to which the COVID-19 pandemic impacts our operations, business, financial results, liquidity, and financial condition will depend on future pandemic-related developments, which are highly uncertain, continuously evolving and cannot be predicted. This includes, but is not limited to, the duration and spread of the pandemic; its severity; the emergence and severity of its variants; the actions to contain the virus or treat its impact, such as the availability and efficacy of vaccines (particularly with respect to emerging strains of the virus) and potential hesitancy to utilize them; and how quickly and to what extent normal economic and operating conditions can resume. Adverse economic and market conditions as a result of COVID-19, such as increased inflation, could also adversely affect the demand for RV rentals and our services.

In June 2020, the Company received a PPP (Payroll Protection Program) Loan from Wells Fargo Bank NA under the program established by the Federal government of the United States of America to provide economic stimulus in reaction to the COVID-19 pandemic. In the fourth quarter of fiscal year 2021, the Company was granted forgiveness of the PPP loan under the terms of the program. See "*—Liquidity and Capital Resources*" for additional information.

Refer to the section entitled "*Risks Factors*" in this prospectus for additional risks we face due to the COVID-19 pandemic.

**Key Factors Affecting Our Performance**

***Ability to Attract and Retain Hosts***

Hosts are the foundation of our community. We are focused on continuing to grow and retain the number of Hosts who choose to list their RVs on our platform, which is critical to our long-term success.

We grow our gross bookings by attracting new Hosts who add RV rental listings to our platform and by increasing the number of nights that are available to book. As of August 31, 2022, we had over 3,100 individual Hosts on our platform, including over 520 rental fleet operators (we define a fleet operator as anyone that lists more than one RV for rent), including the third largest rental fleet in the United States (Road Bear) and the second largest rental fleet (El Monte). We believe the marketplace is highly fragmented, and we are aware of only three rental fleet operators with fleets of more than 1,000 RV rental units. In the first nine months of fiscal year 2022, we added 776 new Hosts. In 2021, we had an increase of 182% in Hosts over 2020, and in 2020 we increased the number of Hosts by 163% over 2019. We believe the growth in our Hosts and their listings highlights our growth in the person-to-person RV rental marketplace and which does not require us to make significant investments in fixed assets, real estate, service centers nor RV rental inventory.

In particular, our platform unlocks the potential for Hosts to share their RVs and earn income in a way that was previously not possible and for Guests to visit places through their RV rentals. We have designed our platform to provide a complete business solution for a Host that wants to rent their RV and earn income from it by providing them an easy way to list their RVs, sending them customers that come to our platform and find their RV for rent, giving them a booking calendar and an eCommerce solution to process transactions, and also giving them fleet management and customer management tools, all for free. We also transformed the economics of renting our RVs by not only providing them a complete business solution for free.

We attract new individual Hosts predominantly through organic channels such as word of mouth, social media channels and affinity groups, and our increasing brand recognition. We focus on describing the benefits of hosting to existing and potential individual Hosts and making onboarding of their listings as seamless as possible. We enable individual Hosts to increase bookings by empowering them with information and tools to optimize their listings, including scheduling, integrated payments, community support, host protection services, and reviews.

We also attract listings from professional Hosts or fleet operators that leverage our platform and tools to run their RV rental business. These Hosts expand the types of listings available to our Guests. We provide professional Hosts with information and tools to optimize their listings, including scheduling, integrations with their own web site, integrated payments, community support, Host protection plan, fleet management tools, customer management tools, and reviews. We attract professional Hosts or fleet operators through direct sales with our sales team, participating in industry groups like the Recreational Vehicle Dealers Association, and its subgroup the Recreational Vehicle Rental Association, and exhibiting at related events and trade shows. We onboard these Hosts through our customer success team which helps them list their fleets and educates them on the business solutions available on the platform. The ultimate goal of our Customer Success team is to have professional Hosts, who currently originate a significant portion of their own bookings through their own legacy business, their own web site and listings on social media or other platforms like Craigslist or Facebook marketplace, to fully adopt our business solution. In doing so, we believe Hosts can significantly increase their profits, streamline their operations and booking processes, and save time, allowing them to focus on creating a great RVing experience for their Guests. Hosts processing all their transactions through our platform is a key driver for increasing our gross bookings.

**Ability to Attract and Retain Guests**

We have demonstrated an ability to continue to grow the number of Guests who are active on our platform, and as of August 31, 2022, we had over 23,000 active Guests on our platform (i.e., users that had created an account and verified their email and phone number with us and successfully logged in at least once). In the first nine months of fiscal year 2022, we added 5,676 active users. During 2021, we had 7,889 new active users, which represented an increase of 12% over 2020. In 2020 compared to 2019, our new active users grew by 760%.

We grow gross bookings by attracting new Guests to book stays on our platform and through past Guests who return to our platform to make new bookings. We attract most Guests directly or through unpaid channels. In 2021, approximately 76% of all traffic to RVnGO came organically through direct or unpaid channels, reflecting the strength of our brand. This trend continued in the first nine months of fiscal year 2022 with 72.5% of our traffic being organic. We have also used paid performance marketing, for example on search terms including 'RVnGO,' 'RV rentals' and related modifiers like 'RV rentals near me' or a certain city, to attract Guests. Our strategy is to increase brand marketing and use the strength of our brand to attract more Guests via direct or unpaid channels and to decrease our performance marketing spend over time as our organic traffic continues to build.

We believe our value-added services that protect our Guests when renting an RV through RVnGO are key to creating trust in the RVnGO RV rental process. Our protection plan protects the Guest if there is damage to the RV during the rental, and, if the Guest has an accident, we have arranged auto-liability coverage up to $1 million provided by a third party underwriter. We also protect the Guest if the reservation is cancelled by the Host, or the Host fails to deliver the RV as promised or represented by offering full refunds on any amounts paid towards the compromised booking. Finally, we provide a trusted platform with secured transaction processing and communications between the Guest and Host.

**Investments in Technology**

We are investing significant resources in our technology architecture and infrastructure. These improvements enable our engineers to use the latest tools and technologies to build new products and features. In 2020, 2021 and so far in 2022, we have made significant investments to enhance the underlying architecture and scalability of our platform by upgrading our systems and improving our system architecture and enhancing the user experience and the workflows to book an RV or to manage their RV rental business on RVnGO. Our continued improvement of our technology platform and product experience is paramount to our user experience, driving our ability to attract and retain Hosts and Guests, improve the rate of booking for new and returning Guests, and generate revenue. As such, we will continue to invest in our technology platform.

**Seasonality**

Our business is seasonal, reflecting typical travel behavior patterns over the course of the calendar year. In a typical year, the third quarter has the highest Nights Booked followed by the fourth quarter, the first and second quarters are the offseason in North America and have the least number of Nights Booked. Our gross bookings and revenue can also be impacted by the timing of holidays and other events such as popular RV events and festivals that shift or change dates. We experience seasonality in our gross bookings that is consistent with the seasonality of Nights Booked. Revenue has historically been, and is expected to continue to be, highest in the third quarter when we have the most check-ins, which is the point at which we recognize revenue. Seasonality also affects our expenses with most of our paid marketing (such as digital marketing ads on search engines or banner ads) coming in the first and second quarters, when our gross bookings are lowest, to attract Guests who are planning their vacations in the upcoming third quarter.

Our costs are relatively fixed across quarters other than increased marketing (relative to gross bookings) in the first two quarters or vary in line with the volume of transactions.

Our quarterly results illustrate the seasonality of our business, and in particular our cost of revenue declined as a percent of revenue as the business scaled in the summer of 2021, representing 68% and 111% of revenue in the second and third quarters of 2021, respectively. In the second and third quarters of 2022 our cost of revenue was 110% and 134%, respectively, primarily due to increased underwriting fees paid to our underwriters and higher than expected damage claims and resulting expenses under our protection plan. Expenses incurred providing our value-added services are recorded in the quarter in which they are incurred under our cost of revenue, resulting in some claims that occurred with rentals in the second and third quarters being realized in the fourth quarter when revenues also in the past have decreased due to seasonality.

The following quarterly information has not been audited or reviewed by the Company's independent registered public accounting firm.

**Quarterly Statements of Operations (Unaudited)**

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| **Revenue** | $**13333** | $**5257** | $**67162** | $**48229** | $**34613** | $**80999** | $**175804** | $**47549** | $**29842** | $**74510** | $**209338** |
| **Costs and expenses** |  |  |  |  |  |  |  |  |  |  |  |
| **Cost of revenue** | **24025** | **25756** | **61320** | **32739** | **46073** | **55301** | **195148** | **118582** | **171444** | **81907** | **281227** |
| **Sales and marketing** | **185473** | **125772** | **239261** | **241004** | **215032** | **249577** | **374134** | **469650** | **798703** | **518020** | **422974** |
| **General & administrative** | **189932** | **424862** | **645601** | **468627** | **275808** | **453315** | **439940** | **759574** | **937818** | **2331896** | **765687** |
| **Research and development** | **27132** | **39050** | **29024** | **52498** | **44235** | **45869** | **57385** | **81341** | **120170** | **116883** | **123857** |
| **Total costs and expenses** | **426562** | **615440** | **975207** | **794870** | **581148** | **804062** | **1066607** | **1429147** | **2028135** | **3048706** | **1593745** |
| **Loss from operations** | **(413229)** | **(610185)** | **(908044)** | **(746640)** | **(546535)** | **(723063)** | **(890803)** | **(1381598)** | **(1998293)** | **(2974196)** | **(1384407)** |
| **Net other income (expenses)** | **0** | **(7200)** | **(11135)** | **(9376)** | **(498)** | **(2450)** | **(580)** | **115690** | **118623** | **(32373)** | **(106478)** |
| **Net loss** | $**(413229)** | $**(617384)** | $**(919179)** | $**(756016)** | $**(547033)** | $**(725513)** | $**(891383)** | $**(1265908)** | $**(1879670)** | $**(3006569)** | $**(1490885)** |

---

**Quarterly Statement of Operations, as a Percent of Revenue (Unaudited)**

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| Revenue | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Costs and expenses |  |  |  |  |  |  |  |  |  |  |  |
| Cost of revenue | 180 | 490 | 91 | 68 | 133 | 68 | 111 | 249 | 575 | 110 | 134 |
| Sales and marketing | 1391 | 2392 | 356 | 500 | 621 | 308 | 213 | 988 | 2676 | 695 | 202 |
| General & administrative | 1424 | 8081 | 961 | 981 | 797 | 560 | 250 | 1597 | 3143 | 3130 | 366 |
| Research and development | 203 | 743 | 43 | 109 | 128 | 57 | 33 | 171 | 403 | 157 | 59 |
| Total costs and expenses | 3199 | 11706 | 1452 | 1648 | 1679 | 993 | 607 | 3006 | 6796 | 4092 | 761 |
| Loss from operations | (3099) | (11606) | (1352) | (1548) | (1579) | (893) | (507) | (2906) | (6696) | (3992) | (661) |
| Net other income (expenses) | 0 | (137) | (17) | (19) | (1) | (3) | (0) | 243 | 398 | (43) | (51) |
| Net loss | (3099)% | (11744)% | (1369)% | (1568)% | (1580)% | (896)% | (507)% | (2662)% | (6299)% | (4035)% | (712)% |

---

**Quarterly Key Business Metrics (Unaudited)**

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| Nights Booked | 192 | 230 | 1139 | 1011 | 681 | 1356 | 2503 | 2007 | 912 | 1878 | 3613 |
| Gross Bookings | 34888 | 34122 | 438821 | 320706 | 117572 | 308548 | 675030 | 341316 | 270064 | 371430 | 823784 |

---

**Host and Guest Protections**

A component of our business is managing the value-added services that are offered through RVnGO to protect the Guest and Host during the RV rental with our 'protection plan' to increase the trust and confidence of both parties in undertaking the rental. We have arranged auto-liability coverage for the Guest through Crum & Forster, a third-party carrier, to provide auto liability coverage for RVs registered in all states of the United States except the State of New York (consequently, we do not allow RV rentals that originate in the State of New York for RVs that are registered in that State). We also provide administration services, which includes damage assessments, for disputes between the Guest and the Host during a rental including in the event of cancellation or damage to the RV, and protecting Guests and Hosts for RV damage during the rental by providing Hosts contractual reimbursement opportunities for damage to the RV and the ability for Guests to contractually cap their out-of-pocket expenses for damage they cause to the RV. If an expense results from providing those services, we record an expense for the amount when incurred. If there are more incidents than anticipated or if the expenses are more than anticipated, this could affect our expected results and financial resources. Also, we are implementing what we believe will be an efficient dispute resolution system, but if this proves more difficult than expected, our expenses could increase and our reputation with our customers could suffer.

**Components of Our Results of Operations**

***Revenues***

We recognize revenue in accordance with the Revenue Recognition (Topic 606) issued by the Financial Accounting Standards Board ("FASB 606"). Revenue is recognized during the fiscal period in which the transaction takes place, defined as when the Guest checks-in and accepts the RV rental under the reservation. Components of revenue include (i) value-added services which consists of all the services and commitments the Company makes to its Guest and Hosts in relation to a rental transaction to give them peace of mind and includes Host and Guest protection and roadside assistance fees, and (ii) processing fees of 3% of the total transaction charged to the Guest.

**Cost of Revenue**

Our cost of revenue includes expenses incurred in providing our protection plan, namely the expenses we incur for arranging auto liability coverage from the third-party auto liability carrier and damages caused to rented RVs that are covered under such protection plan, the fees we incur to a third party that provides our roadside assistance services, and merchant banking expenses. We recognize those costs when incurred.

On a quarterly basis, our costs of revenue as a percent of revenue are lowest in the second and third quarters as the business increases during the peak season because a portion of our costs of revenue are fixed, but otherwise generally scale in proportion with our revenue. Expenses for our value-added services, including our protection plan and roadside assistance are recorded in the quarter in which the loss occurred or realized under our cost of revenue.

For instance, if the rental was for $150, plus $10 in cleaning fees, plus $16 in taxes we collected on behalf of the Host (based on an assumed 10% tax rate on the services they provided) plus $60 value-added fees and $12 for roadside assistance, Gross Bookings, revenue and cost of revenue would be as follows:

● Gross Bookings = $255.44 = ($150+$10+$16+$60+$12) x 1.03 (3% processing fee)

● Less: Host Fees Paid Out = $176 = $150+10+16

● Revenue = $79.44

● Less cost of revenue = $32 = Merchant banking expenses + underwriting expenses + cost to provide roadside assistance + production expenses + value-added services expenses including Host and Guest protection plan expenses and the costs to provide roadside assistance

● Gross Margin = $47.44 (revenue less cost of revenue)

 ****

***Operating expenses***

Operating expenses consist of expenses that are associated or correlated with our revenue-generating activities. All costs are expensed in the period in which the related revenues are recognized. The operating expenses for each of our segments is below:

**Sales and Marketing Expenses**

 

*Payroll*

Our largest functional group is our sales and marketing organization, consisting of eight full-time team members. We record our payroll expenses for those team members here (excluding benefits, workers compensation payments and withholding taxes, which are recorded in General & Administrative Expenses). We also rely heavily on marketing consultants to provide us services specializing in digital marketing, particularly in organic web site generation (SEO or search engine optimization) and digital marketing (SEM or search engine marketing and programmatic marketing).

 

*Advertising and Promotion*

Our advertising and promotion budget will continue to be one of the largest budgets for operating expenditures. We invest heavily in digital marketing channels to build our brand and drive traffic to our platform in (i) search engine optimization, so we rank highly on internet search engines such as Google and Microsoft for users looking for RVs to rent, including extensive efforts to create relevant materials such as articles, reviews, and blogs that drive organic traffic, (ii) search engine marketing, including bidding on keyword advertisements for users searching for RVs to rent, and (iii) social media marketing to users and groups that are interested in RVs on social media platforms like Facebook, Instagram, Pinterest and others.

We also invest significantly in traditional marketing channels, such as print publication relevant to our target audiences, and TV shows. We currently have a five-year sponsorship program with "The RVers", a reality TV show about RVing broadcast on the Discovery Channel, National Geographic, the network of PBS stations and other networks. In the fourth quarter of fiscal year 2021, we also entered into a three-year marketing license and sponsorship agreement for four race weekends with three raceways that host NASCAR races in Phoenix, Arizona, Fontana, California, and Miami, Florida, with the expenses accrued monthly. We believe the sponsorship agreement provides an opportunity to build brand awareness among current and potential customers by strengthening the relationships we have with our customers, in particular our top Hosts, and creating unique race week packages for Guests. We continue to evaluate a potential expansion of the scope of the sponsorship agreement, including adding more events and expanding our presence at those events, which would result in increased marketing expenses. Additionally, we plan significant expansion in content and affiliate marketing and even larger increases in our digital marketing budgets in 2022, including search engine marketing, display or banner ads, social media marketing, and targeted or programmatical marketing and remarketing.

 

 

*Trade Shows and other Marketing Expenses*

We did not attend any trade shows after the second quarter of 2020 until in-person events resumed in the fourth quarter of 2021. We attend and exhibit annually at the Recreational Vehicle Dealers Association tradeshow, normally held in Las Vegas, which is a leading trade show in our industry for independent RV rental and sales fleet operators. As these events begin to resume, we expect to also resume attending these events which we will increase our expenses related to tradeshows and other marketing events.

**General and Administrative Expenses**

*Payroll & Payroll Taxes and Benefits*

 

Our general and administrative payroll reflects the salaries of our executive and management teams, and our call center and concierge teams. We record the expenses for all our team members in general and administrative, even if they are in another segment, for employee benefits, withholding taxes, workers compensation payments and other employee related expenses that are not salary and bonuses. We also record stock-based compensation expenses for all employees under general and administrative expenses. On August 1, 2020, we introduced medical, dental and other health and well-being benefits to all of our team members. We believe this is an important milestone for the Company, enabling us to attract and retain high performing team members and bring more talent to the organization.

*Legal, Professional and Consulting Services*

 

We continue to rely heavily on consulting services to provide advice and services in areas of specialization that the Company does not normally employ, such as legal, accounting, and other consulting services. We also record fees and other expenses related to our capital raising efforts here.

*Rent & Lease*

 

With the stay-at-home orders due to the COVID-19 pandemic, we moved to a distributed work from home model. We found team members remained productive working from home, and not being tied to a set office space provided flexibility to our growth and staffing plans by allowing us to hire talented team members throughout the United States best suited for an open position. We plan to continue to maintain a distributed organization that primarily works from home for the foreseeable future. We are currently in an office share arrangement in Phoenix, Arizona, with our own dedicated office of approximately 400 square feet that team members share when they come into the office. Pursuant to this arrangement, we have access to shared office space, meeting rooms and boardrooms. The arrangement is terminable by us for any reason with 30 days' notice, has nominal monthly fees of less than $1,500, is easily expandable or contractable based on our space needs, and we are not responsible for any common costs or utilities. Team members working in other cities have the option to also rent shared office space that is convenient to their location. We have found that we have not lost productivity working remotely as long as there are meeting rooms available if two or more employees need to meet in person. Renting flexible office space also lets us expand as needed.

**Research and Development**

Expenditures primarily reflect our research and development team member payroll, which includes the payroll for our programmers, quality and assurance testers and development consultants (excluding benefits and employment related expenses that are not salary and bonus payments — those expenses are aggregated and reported in the General & Administrative Benefits). We also record expenses for software and services used in our development and research efforts.

***Intangible Assets Impairment***

We periodically review the carrying values of finite lived intangible assets and other long-lived assets. When circumstances indicate that an impairment of value may have occurred, we test such assets for recoverability by comparing the estimated undiscounted future cash flows expected to result from the use of such assets and their eventual disposition to their carrying amounts. We recognize an impairment loss for the amount by which the carrying amount exceeds the asset's fair value.

***Amortization***

Amortization expenses include capitalized software development costs, which are amortized over an estimated useful life of three years.

**Results of Operations**

The following table sets forth our results of operations for the periods presented:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended**<br> **November 30** | **Fiscal Year Ended**<br> **November 30** | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **2020** | **2021** | **August 31, 2021**<br>(Unaudited) | **August 31, 2022**<br>(Unaudited) |
| **Statements of Operations Data:** |  |  |  |  |
| Revenue | $133983 | $338967 | $291418 | $313690 |
| Costs and expenses |  |  |  |  |
| Cost of revenue | 143841 | 415105 | 296523 | 534579 |
| Sales and marketing | 791512 | 1308392 | 838742 | 1739696 |
| General and administrative(1) | 1729022 | 1928637 | 1101930 | 4035401 |
| Research and development | 147707 | 228830 | 147489 | 360910 |
| Total costs and expenses | 2812082 | 3880964 | 2384684 | 6670586 |
| Loss from operations | (2678099) | (3541997) | (2093266) | (6356896) |
| Other income (expense), net | (27712) | 112163 | (4087) | (20228) |
| Net loss | $(2705811) | $(3429834) | $(2097353) | $(6377124) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes
 stock-based compensation for employees and consultants recorded under general and administrative
expenses as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended<br> November 30** | **Fiscal Year Ended<br> November 30** | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **2020** | **2021** | **August 31, 2021** <br> (Unaudited)  | **August 31, 2022** <br> (Unaudited)  |
| General and administrative |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total stock-based compensation expenses | $820730 | $835160 | 574937 | 1935263 |

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The following table sets forth the components of our statements of operations for each of the periods presented as a percentage of revenue:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fiscal Year Ended November 30** | **Fiscal Year Ended November 30** | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **2020** | **2021** | **August 31, 2021** <br> (Unaudited)  | **August 31, 2022**<br>(Unaudited) |
| **Statements of Operations Data:** |  |  |  |  |
| Revenue | 100.0% | 100.0% | 100.0% | 100.0% |
| Costs and expenses |  |  |  |  |
| Cost of revenue | 107.4 | 122.5 | 101.8 | 170.4 |
| Sales and marketing | 590.8 | 386.0 | 287.8 | 554.6 |
| General and administrative | 1290.5 | 569.0 | 378.1 | 1286.4 |
| Research and development | 110.2 | 67.5 | 50.6 | 115.1 |
| Total costs and expenses | 2098.9 | 1145.0 | 818.3 | 2126.5 |
| Loss from operations | (1998.9) | (1045.0) | (718.3) | (2026.5) |
| Other income (expense), net | (20.7) | 33.1 | (1.4) | (6.4) |
| Net loss | (2019.6)% | (1011.9)% | (719.7)% | (2032.9)% |

---

***Nine*** ***Months Ended August 31, 2021 Compared to Nine Months Ended August 31, 2022***

**Revenue**

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended August 31,** | **Nine Months Ended August 31,** |
|  | **2021** | **2022** |
|  | **(Unaudited)** | **(Unaudited)** |
| Protection plan fees | $219213 | $243674 |
| Roadside assistance fees | 19253 | 35316 |
| Processing fees, net of refund fees and adjustments | 52952 | 34700 |
| **Total Revenue** | $**291418** | $**313690** |

---

For the nine months ended August 31, 2021, compared to the nine months ended August 31, 2022. Revenue increased by $22,272, or 7.6%, in the nine months ended August 31, 2022, compared to the nine months ended August 31, 2021. The growth in revenue was in line with the growth of our Nights Booked and gross bookings, reflecting the general growth of our business despite the effects of the COVID-19 pandemic having largely waned in the United States in the RV rental industry, which had provided a significant positive impact to our business in 2020 and 2021.

A majority of the Company's revenues are from fees under its protection plan charged to the Guest for each RV rental transaction which include Host and Guest protections in the event of damage to the RV. The Company also generates revenue from fees for optional roadside assistance services. The Company charges the Guest a 3% processing fee but also incurs an approximate 3% credit card processing fee from its merchant bank service supplier. In addition, if a transaction is cancelled and the transaction is reversed and refunded to the Guest, the merchant banking fee is also reversed, and together with other processing fee adjustments result in negative net revenue from processing fees.

**Cost of Revenue**

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended August 31,** | **Nine Months Ended August 31,** |
|  | **2021** | **2022** |
|  | **(Unaudited)** | **(Unaudited)** |
| Cost of revenue | $296523 | $534579 |
| Percentage of revenue | 102% | 170% |

---

For the nine months ended August 31, 2021, compared to the nine months ended August 31, 2022. Cost of revenue increased $238,056, or 80%, in the nine months ended August 31, 2022, compared to the nine months ended August 31, 2021. The significant factors that contributed to the increase were (1) expenses related to our protection plan services increased by $211,591 primarily due to an increase in the claims rate relative to the growth in protection plan fees, combined with an increase of $90,019 in underwriting fees due to premium increases charged to us by our third-party auto liability carrier, Crum & Forster, relative to the growth in protection plan fees; and (2) roadside assistance expenses grew by $13,297 in line with the growth in providing roadside assistance services, and (3) merchant processing fees increased by $17,794 because of higher processing volumes in line with our growth in revenue and gross bookings.

Generally, our cost of revenue scales with our revenues and, accordingly, also follows the seasonal patterns of our business, with cost of revenue higher in the third and fourth quarters as our revenue is also higher, but remain roughly the same as a percentage of revenue. Also included in our cost of revenue are fees that are relatively fixed such as our production costs such as server usage fees and domain hosting fees, and premiums paid to the auto liability carrier that are ceded minimum premiums if minimum premium volumes are not achieved.

Expenses for providing our protection plan services may vary from period to period as a percent of revenue depending on the frequency of incidents that result in such expenses which do not necessarily scale with revenue but are event driven (more accidents involving rental vehicles, etc.). A series of large protection plan expenses in a quarter could skew our cost of revenues for that period, making it larger as a percentage of revenue than in other quarters, particularly if revenue is lower because it is off-season quarter in which it would have a more disproportionate effect.

We also restructured the arrangement with the provider of auto-liability insurance in the third quarter of 2021 which resulted in lower cost of revenue as a percentage of revenue than in the prior quarters. In the third quarter of 2022, our underwriting expenses per night were increased by Crum & Forster upon the annual renewal. As we did not increase the fees for our protection plan, this resulted in higher cost of revenue as a percent of revenue starting in the third quarter of 2022.

As part of our protection plan services, claims liability is detailed in the table below for the periods presented:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Balance at Beginning of Period** | **Additions (Reductions) for Current Period** | **Changes in Estimates for Prior Periods** | **Net Payments** | **Balance at End of Period** |
| **Claims Liabilities** |  |  |  |  |  |
| Year Ended November 31, 2020 | $0 | $0 | $0 | $0 | $0 |
| Year Ended November 31, 2021 | $0 | $232169 | $0 | $(32169) | $200000 |
| For Quarter Ended February 28, 2022 (unaudited) | $200000 | $132869 | $0 | $(132869) | $200000 |
| For Quarter Ended May 31, 2022 (unaudited) | $200000 | $1086 | $0 | $(101086) | $100000 |
| For Quarter Ended August 31, 2022 (unaudited) | $100000 | $170079 | $0 | $(133360) | $136719 |

---

**Sales and Marketing**

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended August 31,** | **Nine Months Ended August 31,** |
|  | **2021** | **2022** |
|  | **(Unaudited)** | **(Unaudited)** |
| Advertising and promotion | $391087 | $552896 |
| Total sales and marketing | $838742 | $1739696 |
| Percentage of revenue | 288% | <br>555% |

---

For the nine months ended August 31, 2021, compared to the nine months ended August 31, 2022. Sales and marketing expenses increased in the nine months ended August 31, 2022, compared to the nine months ended August 31, 2021 by $900,954 or 107%, due to a $376,294 increase in expenses for sales and marketing staff attributable to the continued growth of the business and higher headcount and an increase of $161,809 or a 41% increase in advertising and promotion due to higher spending on ads and promotions and $221,667 of expenses for our sponsorship arrangement for certain races in the NASCAR race series that commenced in October 2021. Advertising and promotion includes all of our marketing efforts including digital marketing on search engines, social media advertising, mass media advertising on television and print publication and events including tradeshows and event promotions. Total sales and marketing includes all of our sales and marketing expenses including payroll for our sales and marketing teams (but excluding taxes and benefits for the sales and marketing teams, which are recorded in General and Administrative expenses).

**General and Administrative**

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended August 31,** | **Nine Months Ended August 31,** |
|  | **2021** | **2022** |
|  | **(Unaudited)** | **(Unaudited)** |
| General and administrative | $1101930 | $4035401 |
| Percentage of revenue | 378% | 1286% |

---

For the nine months ended August 31, 2021, compared to the nine months ended August 31, 2022. General and administrative expenses increased in the nine months ended August 31, 2022, compared to the nine months ended August 31, 2021 by $2,933,471 a 266% increase, and includes administrative and executive salaries, expenses associated with our call center including salaries, and employee taxes, workers compensation and benefits for all of our employees. The increase in general and administrative spending was primarily driven by an increase of $392,491 attributable to the increase in hiring of full-time employees as we scale our business and prepare for future growth, combined with an increase of $968,868 related to third party consulting fees for accounting legal and strategic consulting primarily related to expenses associated with this offering.

Additionally, in the second quarter of 2022, the Company incurred a one-time expense of $1,475,765 as a result of the Exchange Offer and the resulting exchange of certain shares of the Company's Series B common stock for shares of the Company's Series A common stock, which was effected in connection with the Corporate Reorganization. This stock-based compensation modification valuation was based on a third-party valuation study to account for the change in fair value at the date of the exchange.

**Research & Development**

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended August 31,** | **Nine Months Ended August 31,** |
|  | **2021** | **2022** |
|  | **(Unaudited)** | **(Unaudited)** |
| Research and development | $147489 | $360910 |
| Percent of revenue | 51% | 115% |

---

For the nine months ended August 31, 2021, compared to the nine months ended August 31, 2022. Our research and development costs in the nine months ended August 31, 2022, compared to the nine months ended August 31, 2021 increased by $213,421 or 145%, primarily due to hiring additional developers to continue to build and improve our platform.

**Other Income and Expenses**

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended August 31,** | **Nine Months Ended August 31,** |
|  | **2021** | **2022** |
|  | **(Unaudited)** | **(Unaudited)** |
| Other income (expense) | $(4087) | $(20228) |
| Percent of revenue | (1)% | (6)% |

---

For the nine months ended August 31, 2021, compared to the nine months ended August 31, 2022. Our other income (expense), net in the nine months ended August 31, 2022, compared to the nine months ended August 31, 2021 increased by $16,141 or 395%, primarily due to expenses associated with our financing activities. The Company received a grant of $125,000 during the nine months ended August 31, 2022, which partially offset $145,228 of interest expense for that period. Additional interest expense is directly related to the issuance of convertible debt and bridge financing during the nine months ended August 31, 2022.

**Fiscal Year Ended November 30, 2020 Compared to Fiscal Year Ended November 30, 2021**

**Revenue**

---

| | | |
|:---|:---|:---|
|  | **Years ended November 30,** | **Years ended November 30,** |
|  | **2020** | **2021** |
|  | **(Unaudited)** | **(Unaudited)** |
| Protection plan | $110183 | $252349 |
| Roadside assistance | 10713 | 25121 |
| Processing fees, net of refund fees and adjustments | 13087 | 61497 |
| **Total Revenue** | $**133983** | $**338967** |

---

2020 Compared to 2021. Revenue, net increased $204,984, or 153%, in 2021 compared to 2020, almost entirely due to a 255% increase in the number of check-ins related to Nights Booked on our platform and is due to a growth in user traffic to our platform and a growing number of Hosts that have listed RVs for rent on RVnGO. Gross bookings per night, declined 32% in 2021 compared to 2020 from $322 to $220 per night, illustrating the return to pre-COVID-19 pricing, while revenue per night decreased less than 1% from $52.09 in 2020 to $51.77 in 2021, primarily due to the fact that we did not change the pricing for our value-added services, maintaining the same prices in 2021 as we had in 2020 per night.

A majority of the Company's revenues are from fees under its protection plan charged to the Guest for each RV rental transaction which include Host and Guest protections in the event of damage to the RV. The Company also generates revenue from fees for optional roadside assistance services. The Company charges the Guest a 3% processing fee but also incurs an approximate 3% credit card processing fee from its merchant bank service supplier. In addition, if a transaction is cancelled and the transaction is reversed and refunded to the Guest, the merchant banking fee is also reversed, and together with other processing fee adjustments result in negative net revenue from processing fees.

**Cost of Revenue**

---

| | | |
|:---|:---|:---|
|  | **Fiscal Year Ended November 30** | **Fiscal Year Ended November 30** |
|  | **2020** | **2021** |
| Cost of revenue | $143841 | $415105 |
| Percentage of revenue | 107.4% | 122.5% |

---

2020 Compared to 2021. Cost of revenue increased $271,264, or 189%, in 2021 compared to 2020. The significant factors that contributed to the increase were (1) expenses related to our protection plan services increased by $232,169 and underwriting fees that increased by $30,879; (2) roadside assistance expenses decreased by $1,904 due to a new arrangement with the service provider of our roadside assistance services resulting in lower per night rates, and (3) merchant processing fees increased by $40,999 because of higher processing volumes in line with our growth in revenue and gross bookings.

Generally, our cost of revenue scales with our revenues and, accordingly, also follows the seasonal patterns of our business, with cost of revenue higher in the third and fourth quarters as our revenue is also higher, but remain roughly the same as a percentage of revenue. Also included in our cost of revenue are fees that are relatively fixed such as our production costs such as server usage fees and domain hosting fees, and premiums paid to the auto liability carrier that are ceded minimum premiums if minimum premium volumes are not achieved.

Expenses for providing our protection plan services may vary from period to period as a percent of revenue depending on the frequency of incidents that result in such expenses which do not necessarily scale with revenue but are event driven (more accidents involving rental vehicles, etc.). A series of large protection plan expenses in a quarter could skew our cost of revenues for that period, making it larger as a percentage of revenue than in other quarters, particularly if revenue is lower because it is off-season quarter in which it would have a more disproportionate effect.

We also restructured the arrangement with the provider of auto-liability insurance in the third quarter of 2021 which resulted in lower cost of revenue as a percentage of revenue than in the prior quarters.

**Sales and Marketing**

---

| | | |
|:---|:---|:---|
|  | **Fiscal Year Ended November 30** | **Fiscal Year Ended November 30** |
|  | **2020** | **2021** |
| Advertising and promotion | $311829 | $590909 |
| Total sales and marketing | $791513 | $1308392 |
| Percentage of revenue | 590.8% | 386.0% |

---

2020 Compared to 2021. Sales and marketing expenses increased in 2021 compared to 2020 by $516,880 or 65%, including a $279,080 increase in advertising and promotion, an 89% increase. Advertising and promotion increased due to an increase in spending on all of our advertising channels and expanded sponsorship relationships with our marketing partners. Additionally, expenses for sales and marketing staff increased by $216,386 from the prior year primarily due to increased payroll expenses from new hires and the hiring of more senior roles. Advertising and promotion includes all of our marketing efforts including digital marketing on search engines, social media advertising, mass media advertising on television and print publication and events including tradeshows and event promotions. Total sales and marketing includes all of our sales and marketing expenses including payroll for our sales and marketing teams.

**General and Administrative**

---

| | | |
|:---|:---|:---|
|  | **Fiscal Year Ended November 30** | **Fiscal Year Ended November 30** |
|  | **2020** | **2021** |
| General and administrative | $1729022 | $1928637 |
| Percentage of revenue | 1290.5% | 569.0% |

---

2020 Compared to 2021. General and administrative expenses increased in 2021 compared to 2020 by $199,615, a 12% increase, and includes an increase of $194,349 for administrative and executive salaries, expenses associated with our call center including salaries, and employee taxes, workers compensation and benefits for all of our employees. We expect to continue to increase employee headcount to support the growth and development of the business.

**Research & Development**

---

| | | |
|:---|:---|:---|
|  | **Fiscal Year Ended November 30** | **Fiscal Year Ended November 30** |
|  | **2020** | **2021** |
| Research and development | $147706 | $228830 |
| Percent of revenue | 110% | 67.5% |

---

2020 Compared to 2021. Our research and development costs in 2021 compared to 2020 increased by $81,124 or 55%, primarily due to hiring additional developers to continue to build and improve our platform.

**Other Income and (Expenses)**

---

| | | |
|:---|:---|:---|
|  | **Fiscal Year Ended November 30** | **Fiscal Year Ended November 30** |
|  | **2020** | **2021** |
| Other income (expense) | $(27712) | $112163 |
| Percent of revenue | (20.7)% | 33.1% |

---

2020 Compared to 2021. Our other income, in 2021 compared to 2020 increased by $139,875 or 505%, primarily due to the forgiveness of our PPP loan in 2021 in the amount of $91,587 under the United States Government program to financially assist small businesses during the COVID-19 pandemic, and also includes $25,000 income from a grant in 2021. In 2020, other expense, net consisted primarily of financing-related costs.

**Quarterly Results of Operations**

The following table sets forth our unaudited quarterly results of operations for each of the quarterly periods for the years ended November 30, 2020 and 2021 and for the nine months ended August 31, 2022. This quarterly information has not been audited or reviewed by the Company's independent registered public accounting firm. Our historical results are not necessarily indicative of the results that may be expected in the future, and the results of a particular quarter or other interim period are not necessarily indicative of the results for a full year. You should read the following unaudited quarterly results of operations in conjunction with our financial statements and related notes included elsewhere in this prospectus.

**Quarterly Statements of Operations (Unaudited)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| **Revenue** | $**13333** | $**5257** | $**67162** | $**48229** | $**34613** | $**80999** | $**175804** | $**47549** | $**29842** | $**74510** | $**209338** |
| **Costs and expenses** |  |  |  |  |  |  |  |  |  |  |  |
| **Cost of revenue** | **24025** | **25756** | **61320** | **32739** | **46073** | **55301** | **195148** | **118582** | **171444** | **81907** | **281227** |
| **Sales and marketing** | **185473** | **125772** | **239261** | **241004** | **215032** | **249577** | **374134** | **469650** | **798703** | **518020** | **422974** |
| **General & administrative** | **189932** | **424862** | **645601** | **468627** | **275808** | **453315** | **439940** | **759574** | **937818** | **2331896** | **765687** |
| **Research and development** | **27132** | **39050** | **29024** | **52498** | **44235** | **45869** | **57385** | **81341** | **120170** | **116883** | **123857** |
| **Total costs and expenses** | **426562** | **615440** | **975207** | **794870** | **581148** | **804062** | **1066607** | **1429147** | **2028135** | **3048706** | **1593745** |
| **Loss from operations** | **(413229)** | **(610185)** | **(908044)** | **(746640)** | **(546535)** | **(723063)** | **(890803)** | **(1381598)** | **(1998293)** | **(2974196)** | **(1384407)** |
| **Net other income (expenses)** | **0** | **(7200)** | **(11135)** | **(9376)** | **(498)** | **(2450)** | **(580)** | **115690** | **118623** | **(32373)** | **(106478)** |
| **Net loss** | $**(413229)** | $**(617384)** | $**(919179)** | $**(756016)** | $**(547033)** | $**(725513)** | $**(891383)** | $**(1265908)** | $**(1879670)** | $**(3006569)** | $**(1490885)** |

---

**Quarterly Statement of Operations, as a Percent of Revenue (Unaudited)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| Revenue | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Costs and expenses |  |  |  |  |  |  |  |  |  |  |  |
| Cost of revenue | 180 | 490 | 91 | 68 | 133 | 68 | 111 | 249 | 575 | 110 | 134 |
| Sales and marketing | 1391 | 2392 | 356 | 500 | 621 | 308 | 213 | 988 | 2676 | 695 | 202 |
| General & administrative | 1424 | 8081 | 961 | 981 | 797 | 560 | 250 | 1597 | 3143 | 3130 | 366 |
| Research and development | 203 | 743 | 43 | 109 | 128 | 57 | 33 | 171 | 403 | 157 | 59 |
| Total costs and expenses | 3199 | 11706 | 1452 | 1648 | 1679 | 993 | 607 | 3006 | 6796 | 4092 | 761 |
| Loss from operations | (3099) | (11606) | (1352) | (1548) | (1579) | (893) | (507) | (2906) | (6696) | (3992) | (661) |
| Net other income (expenses) | 0 | (137) | (17) | (19) | (1) | (3) | (0) | 243 | 398 | (43) | (51) |
| Net loss | (3099)% | (11744)% | (1369)% | (1568)% | (1580)% | (896)% | (507)% | (2662) % | (6299)% | (4035)% | (712)% |

---

**Quarterly Key Business Metrics (Unaudited)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Feb 29, 2020** | **May 31, 2020** | **Aug 31, 2020** | **Nov 30, 2020** | **Feb 28, 2021** | **May 31, 2021** | **Aug 31, 2021** | **Nov 30, 2021** | **Feb 28, 2022** | **May 31, 2022** | **Aug 31, 2022** |
| Nights Booked | 192 | 230 | 1139 | 1011 | 681 | 1356 | 2503 | 2007 | 912 | 1878 | 3613 |
| Gross Bookings | 34888 | 34122 | 438821 | 320706 | 117572 | 308548 | 675030 | 341316 | 270064 | 371430 | 823784 |

---

**Quarterly Trends**

**Revenue**

Revenue in each of the quarters in 2021 (other than the three months ended November 30, 2021) was higher than revenue in the same quarter of the prior year primarily from an increase in the number of check-ins related to Nights Booked on our platform. We believe the quarter ending November 30, 2021 was nominally lower than the same period in 2020 due to the positive effects on demand for RV rentals at the end of 2020. However, as revenue is recorded upon check-in, revenue is impacted significantly by seasonality. Revenue is typically lowest in the first quarter as Guests plan for travel later in the year, and revenue is highest in the third quarter, or when we have the most check-ins, as the third quarter is the peak travel season for the United States. Revenue in the second quarter of 2020 decreased as COVID-19 disrupted travel across the world and resulted in higher cancellations and fewer bookings. Revenue in the third quarter of 2020 improved as domestic travel rebounded. Quarterly results in 2021 compared to the same quarter in 2020 were higher due to our growth from both more Guests coming to the platform and more Hosts with listings. In the first nine months of 2022, our revenue grew sequentially as our business grew.

**Cost of Revenue**

On a quarterly basis, cost of revenue generally increased in 2021 compared to the corresponding quarterly periods of 2020 primarily due to the growth in gross bookings from increased users to the platform and from more Hosts with listings. Cost of revenue as a percentage of revenue for each quarter of 2021 varied due to seasonality. In addition, we made changes to the protection plan services offered on our platform covering RV rentals that improved margins and decreased our cost of revenue relative to gross bookings and revenue in the second quarter of 2021. The third and fourth quarters in 2021 was significantly higher due to protection plan expenses as part of our value-added services being settled that occurred during the second and third quarters of the high season.

The cost of revenue fluctuation in the first three quarters of the current fiscal year was primarily due to higher expense rates and larger payouts under our protection plan and an increase in our underwriting expenses in the third quarter upon the annual renewal of the auto-liability plan by our third-party underwriter. The fees we charge Guests for our protection plan have not changed since 2020, so changes in the payout rate under our protection plan and changes in our underwriting expenses account for the fluctuations in our quarter cost of revenue as a percent of revenue. In the third quarter of 2021, we restructured our contract with our underwriter to reduce the fees we pay on each rental, but in the third quarter of 2022 upon annual renewal our underwriting rates were increased.

**Sales and Marketing**

On a quarterly basis, sales and marketing generally increased in 2021 compared to the corresponding quarterly periods of 2020 primarily due to the growth in our business, with higher as a percentage of revenue in the first and fourth quarters as we spend on advertising to attract inquiries and bookings for the summer months. Generally, our sales and marketing expenses also increase because we continue to expand the team and look for new avenues advertise and promote our business and build our brand. Relative to revenue, sales and marketing costs are lower as a percentage in the second and third quarter when our revenue increases during the high season while our sales and marketing costs remain steady and increase as we increase headcount and expand our advertising and marketing channels. The COVID-19 pandemic significantly disrupted nights booked, gross bookings and revenue in the first and second quarters of 2020, resulting in relatively high spending relative to revenue on sales and marketing expenses, and then recovering in the third quarter of 2020 as the RV rental industry rebounded in the summer of 2020. Generally, quarter over quarter were higher in 2021 than the comparable quarter in the previous year due to increased spending in existing advertising and promotion channels, the launch of new the advertising and promotional channels and sponsorship relationships and expansion of the sales and marketing teams. Similarly, for the first three quarters of the current fiscal year, our spending on sales and marketing continued to increase to scale the business and with additional hiring and headcount.

**General and Administrative**

On a quarterly basis, general and administrative expenses generally increased in 2021 compared to the corresponding quarterly periods of 2020 primarily as a result of higher headcount and expanded operations. General and administrative expenses increased significantly in the fourth quarter of 2021 primarily due to legal, professional and consulting services related to our initial public offering, and placement fees for our Series A offering and our convertible debt offering. Relative to revenue, general and administrative costs are lower as a percentage in the second and third quarters when our revenue increases during the high season while our general and administrative costs remain steady and increase primarily as we increase headcount and incur consulting and professional expenses in connection with our financing efforts. The COVID-19 pandemic significantly disrupted nights booked, gross bookings and revenue in the first and second quarters of 2020, resulting in relatively high spending relative to revenue on general and administrative expenses, and then recovering in the third quarter of 2020 as the RV rental industry rebounded in the summer of 2020. In the first three quarters of the current fiscal year, we continued to increase the general and administrative headcount to accommodate growth and we also incurred additional expenses related to this offering.

**Research and Development**

On a quarterly basis, research and development costs increased for all quarters in 2021 compared to the corresponding quarterly periods of 2020, primarily due to increases in personnel-related costs and other professional services. Relative to revenue, research and development costs are lower as a percent in the second and third quarter when our revenue increases during the high season while our research and development costs remain steady and increase as we increase headcount. The COVID-19 pandemic significantly disrupted nights booked, gross bookings and revenue in the first and second quarters of 2020, resulting in relatively high spending relative to revenue on research and development expenses, and then recovering in the third quarter of 2020 as the RV rental industry rebounded in the summer of 2020. In the first three quarters of the current fiscal year, research and development expenses increased as a result of increased headcount.

**Loss from Operations**

On a quarterly basis, losses from operations increased for all quarters in 2021 compared to the corresponding quarterly periods of 2020 because of increased costs and expenses that were not offset by increased revenues. Relative to revenue, losses from operations are lower in the second and third quarters each year due to seasonality of our business and the high season in the summer months.

**Other Income (Expense)**

On a quarterly basis, net other income improved for all quarters in 2021 compared to the corresponding quarterly periods of 2020, primarily due to a write-off our office equipment in the third quarter of 2020 when our lease was terminated and we moved to a distributed work from home posture, resulting in lower amortization and depreciation in subsequent quarters. The fourth quarter of 2021 was also favorably affected when our PPP loan under the program established by the United States government to help small business during the COVID-19 pandemic was forgiven under the program.

**Liquidity and Capital Resources**

***Liquidity***

Our operations have historically been financed primarily through financing activities, including proceeds from the sale of our securities. Cash is recorded in our current assets. As of November 31, 2021, we had $447,502 in cash. Subsequent to the fiscal year end, cash decreased to $339,707 as of August 31, 2022 due to our operating losses, offset by the proceeds received from the issuance of convertible notes, which convert upon an initial public offering or other triggering event, as discussed below , and proceeds from the Bridge Notes. We expect our existing cash as of August 31, 2022, together with proceeds from this offering will enable us to fund our operating expenses and operations for at least 12 months from the date of this prospectus. If we are unable to obtain additional financing, we may be unable to continue as a going concern. Similarly, the report of our independent registered public accounting firm on our financial statements as of and for the year ended November 30, 2021 includes an explanatory paragraph indicating that there is substantial doubt about our ability to continue as a going concern. If we cannot continue as a viable entity, our stockholders may lose some or all of their investment in us. See "*Risk Factors—Risks Related to Our Indebtedness, Financial Condition, and Ability to Continue as a Going Concern"* in this prospectus for additional information.

Our operating needs include the planned costs to operate our business, including amounts required to fund operations, including advertising and promotion expenses and working capital. Our capital expenditure requirements are not significant, as our operations are distributed without a material lease obligation and our platform and our business systems are cloud based and scalable with transaction volumes. We currently do not require capital investments in land, fixtures, RV rental inventory nor servicing operations to achieve our growth and business goals. As such, our capital requirements are almost entirely for our operating expenses, primarily salaries and advertising and promotion expenses. Our future capital requirements and the adequacy of our available funds will depend on many factors, including our rate of revenue growth, the timing and extent of spending on growth initiatives including marketing, advertising and promotion expenses, successfully executing our business and marketing strategies, hiring and retaining appropriate personnel and overall economic conditions.

The following table summarizes our contractual obligations and commitments as of August 31, 2022:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Total** | **Less than 1 year** | **1 to 3 years** | **3 to 5 years** | **More than 5 years** |
| Marketing expenses | $558331 | $249400 | $308931 | $0 | $0 |
| Debt obligations (principal and interest) (1)(2) | 3599229 | 1828977 | 1770252 | 0 | 0 |
| Total | $4157560 | $2078377 | $2079183 | - | - |

---

We may choose to raise additional funds at any time through equity or debt financing arrangements, which may or may not be needed for additional working capital, capital expenditures or other strategic investments. However, there are currently no commitments in place for future financing and there can be no assurance that we will be able to obtain funds on commercially acceptable terms, if at all. If we are unable to obtain adequate funds on reasonable terms, we may be required to significantly curtail or discontinue operations or obtain funds by entering into financing agreements on unattractive terms.

(1) Represents debt obligations under the Bridge Notes. The Bridge Notes issued under the May 2022 Bridge Loan Documents mature upon the closing of this offering or June 30, 2023, whichever occurs first. The Bridge Notes issued under the September 2022 Bridge Loan Documents mature upon the closing of this offering or October 31, 2025, whichever occurs first. See "—Bridge Loans" below for additional information.

(2) Represents debt obligations under the Convertible Notes, which mature in 2025. However, the Convertible Notes will automatically convert into shares of our Class A common stock upon the occurrence of certain events as discussed further under "—Convertible Notes Offering and Other Prior Offerings" below.

***Convertible Notes Offering and Other Prior Offerings***

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Between January 8, 2022, and February 28, 2022, we entered into, issued, and sold convertible promissory notes to certain investors in the aggregate principal amount of $1.755 million (the "Convertible Notes"). The Convertible Notes have an annual interest rate of 6% and mature after three years. Upon the closing of this offering, the outstanding principal and accrued interest under the Convertible Notes will automatically (and without any action on the part of the note holders) be converted into shares of our Class A common stock at a conversion price equal to 60% of the initial public offering price of our Class A common stock (the "Conversion Price"). The Convertible Notes will also automatically convert if, prior to the maturity date of such notes and prior to the closing of this offering, the Company undergoes a change of control, reverse merger, or merger with a special purpose acquisition company (SPAC), at a conversion price equal to 60% of the aggregate consideration in any such transaction, divided by the total number of outstanding shares of the acquiror resulting from such transaction. The outstanding principal and accrued interest under the Convertible Notes may also be converted at any time at the option of each note holder into our Class A common stock at a price equal to the price per share determined by dividing $50 million by the total number of outstanding shares of Class A common stock and Class B common stock. In the event neither this offering nor any other liquidity event is consummated within twelve months of the issue date of the Convertible Notes, we may elect either to (a) repay the Convertible Notes in whole or in part (subject to the conversion rights of the note holders), or (b) if we do not repay the Convertible Notes, the unpaid principal amount of the Convertible Notes will automatically increase to 110% of the outstanding principal amount. We may also elect to prepay the Convertible Note at any time after March 31, 2022 upon 20 business days' prior written notice to the note holders.

On January 21, 2022 and February 24, 2022, in connection with the Convertible Notes offerings, we issued certain warrants to purchase our Class A common stock to Boustead Securities, LLC, as placement agent (the "Boustead Convertible Note Warrants"). Pursuant to the Boustead Convertible Note Warrants, Boustead Securities, LLC may purchase such number of shares of our Class A common stock (subject to adjustment) equal to 7% of the number of shares of Class A common stock into which the Convertible Notes convert into pursuant to their terms at an exercise price equal to the Conversion Price. The Boustead Convertible Note Warrants expire five years from their respective date of issuance.

Between March 2021 and October 2021, in our Series A equity round, we sold 5,914,500 shares of our Series A common stock of our pre-conversion Arizona corporation to certain investors in an unregistered private placement offering, at a price per share equal to $0.40 per share for the first tranche and $0.50 per share for the balance, for an aggregate purchase price of approximately $2.781 million.

Between March 2020 and February 2021 in our Step equity round, we sold 6,644,122 shares of our Series A common stock of our pre-conversion Arizona corporation to certain investors in an unregistered private placement offering, at a price per share equal to $0.30 per share, for an aggregate purchase price of approximately $1.988 million.

Between March 2019 and July 2019 in our Seed equity round, we sold 7,212,152 shares of our Series A common stock of our pre-conversion Arizona corporation to certain investors in an unregistered private placement offering, at a price per share equal to $0.25 per share, for an aggregate purchase price of approximately $1.803 million.

Between September 2016 and December 2018, we sold 14,669,220 shares of our Series A common stock of our pre-conversion Arizona corporation to certain investors in an unregistered private placement offering, at a price per share of $0.125 per share, together with 5,386,000 warrants with a term of three years to buy an equivalent number of shares of Class A common stock for $.125 per share and 5,386,000 warrants with a term of five years to buy an equivalent number of shares of Class A common stock for $0.25 per share, for an aggregate purchase price of approximately $1.833 million.

The investors in the previous offerings of Series A common stock of our pre-conversion Arizona corporation were granted a pro-rata right of first refusal to subscribe for any subsequent rounds of financing by the Company.

***<u>Bridge Loans</u>***

Between May 18, 2022 and July 8, 2022, we entered into certain loan documents (the "May 2022 Bridge Loan Documents") pursuant to which we issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1.8 million and warrants to purchase Class A common stock (the "Bridge Warrants") issued automatically upon the purchase of such notes. On September 23, 2022, we entered into a new set of loan documents (the "September 2022 Bridge Loan Documents") pursuant to which we issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1,050,000 (collectively under both the May 2022 Bridge Loan Documents and the September 2022 Bridge Loan Documents, the "Bridge Notes"), and Bridge Warrants issued automatically upon the purchase of such notes. The Bridge Notes issued under the May 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or June 30, 2023, whichever occurs first. The Bridge Notes issued under the September 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or October 31, 2025, whichever occurs first. The Company may also elect to prepay the Bridge Notes at any time without penalty or premium. Each investor purchasing Bridge Notes also received Bridge Warrants to purchase a number of shares of Class A common stock (the "Bridge Warrant Shares") that is equal to the initial principal amount of such investor's Bridge Note divided by $2.50. The Bridge Warrants have an exercise price equal to the lower of $2.50 or 50% of the price of the Class A common stock in this offering and are exercisable at any time following the date of issuance for a period of five years from the date of issuance. In connection with the closing of this offering, the Company is also causing to be filed a registration statement covering the Bridge Warrant Shares, provided that 50% of such Bridge Warrant Shares shall be subject to a 6-month lock-up period commencing upon the closing of this offering.

***Cash Flows From Operating Activities***

Cash flow from operating activities, namely the person-to-person RV rental platform operated under RVnGO and related services, are recorded here. In 2021, our net cash flow from operating activities was ($2,152,165), a 39% decrease from 2020 of ($1,553,116). Cash flow from operations were negative because of the heavy investment the Company made in advertising and promotion to build its brand awareness and drive traffic to the site, and to build our operations to accommodate our growth.

For the nine months ended August 31, 2021, compared to the nine months ended August 31, 2022, the Company had negative cash flows from operations of $(1,324,017) and negative cash flows from operations of $(3,279,143), respectively. The increase was related to an increase in sales and marketing activity and professional fees related to prepare for an IPO.

***Cash Flows From Financing Activities***

The proceeds from the Company's financing activities, in the form of selling equity in the Company or the Company issuing debt, is recorded here. The proceeds from the Company's sale of Series A common shares of the pre-conversion Arizona corporation, Convertible Notes and Bridge Notes in 2020, 2021 and the first nine months of fiscal year 2022, as applicable, are reflected under our Financing Activities and as further described above in "—Convertible Notes Offering and Other Prior Offerings".

In June 2020, the Company also received a PPP (Payroll Protection Program) Loan from Wells Fargo Bank NA for $91,587 under the program established by the Federal government of the United States of America to provide economic stimulus in reaction to the COVID-19 pandemic. The loans under the PPP Loan program are forgivable if the proceeds are used for qualifying expenses. In the fourth quarter of 2021, the Company was granted forgiveness of the PPP loan under the terms of the program. Since the PPP loan was forgiven and thereby not requiring repayment, it resulted in additional liquidity for the Company.

**Off-Balance Sheet Arrangements**

We did not have during the periods presented, and we do not currently have, any relationships with any organizations or financial partnerships, such as structured finance or special purpose entities, that would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

**Critical Accounting Policies and Estimates**

Our management's discussion and analysis of financial condition and results of operations is based on our financial statements, which have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported expenses during the reporting periods. We believe that the accounting policies described below involve a significant degree of judgment and complexity. Accordingly, we believe that these are the most critical to aid in fully understanding and evaluating our financial condition and results of operations. We evaluate our estimates and judgments on an ongoing basis. Actual results may differ materially from these estimates under different assumptions or conditions.

 ****

***Revenue Recognition***

We recognize revenue in accordance with ASC Topic 606. We generate substantially all of our revenue from facilitating Guest rentals of recreational vehicles offered by Hosts on the RVnGO platform. We consider both Hosts and Guests to be our customers. Our revenue is comprised of value-added service fees and processing fees from our customers. Our single performance obligation is identified as the facilitation of an RV rental, which occurs upon the completion of a check-in event. Revenue is recognized at a point in time when the performance obligation is satisfied upon check-in.

We evaluate the presentation of revenue on a gross versus net basis based on whether or not we are the principal in the transaction (gross) or whether we arrange for other parties to provide the service to Guests and are the agent (net) in the transaction. We determined that we do not control the right to use the recreational vehicle provided by us either before or after completion of our service. Accordingly, we concluded that we are acting in an agent capacity and revenue is presented net reflecting the value-added service fees and processing fees received from our customers to facilitate a stay (and excluding the amount we pay to the Host for their RV used in the rental and other add-on services that the Host may provide and sales taxes we collect on the Hosts behalf for remittance by the Host).

Revenue is presented net of certain payments we make to customers as part of our affiliate referral programs and marketing promotions, collectively referred to as our incentive programs, and refund activities. The payments are recorded as cash refunds. We encourage the use of our platform and attract new customers through our incentive programs. Under the referral program, the referring party ("referrer") earns a cash amount when the new Host or Guest ("referee") completes their first stay on our platform. This referral program is recorded as a reduction in revenue when earned.

***Stock-Based Compensation***

We have granted stock-based awards consisting primarily of stock options and restricted common stock to employees, members of our board of directors, and non-employees. We estimate the fair value of stock options granted using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires certain subjective inputs and assumptions, including the fair value of our common stock, the expected term, risk-free interest rates, expected stock price volatility, and expected dividend yield of our common stock. The fair value of stock options is recognized as stock-based compensation expense on a straight-line basis over the requisite service period. We account for forfeitures as they occur.

These assumptions used in the Black-Scholes option-pricing model, other than the fair value of our common stock (see the subsection titled "— Common Stock Valuations" below), are estimated as follows:

● *Expected term*. We estimate the expected term based on the simplified method.

● *Risk-free interest rate*. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant.

● *Expected volatility*. We estimate the volatility of our common stock on the date of grant based on the average historical stock price volatility of comparable publicly-traded companies as there has been no public market for our shares to date.

● *Expected dividend yield*. Expected dividend yield is zero, as we have not paid and do not anticipate paying dividends on our common stock.

We continue to use judgment in evaluating the expected volatility and expected term utilized in our stock-based compensation expense calculation on a prospective basis. As we continue to accumulate additional data related to our common stock, we may refine our estimates of expected volatility and expected term, which could materially impact our future stock-based compensation expense.

 

*Restricted Stock Units*

The fair value of RSUs is estimated based on the fair value of our common stock on the date of grant. Substantially all of our RSUs vest upon the satisfaction of both a service-based vesting condition and a liquidity-based vesting condition. The service-based vesting condition for the majority of these awards is satisfied over four years. The liquidity-based vesting condition is satisfied upon the occurrence of a qualifying liquidity event. To date we have not issued RSUs.

 ****

***Common Stock Valuations***

Prior to this offering, given the absence of a public trading market for our common stock, and in accordance with the *American Institute of Certified Public Accountants Accounting and Valuation Guide, Valuation of Privately-Held Company Equity Securities Issued as Compensation*, our board of directors exercised its reasonable judgment and considered numerous objective and subjective factors to determine the best estimate of fair value of our common stock underlying the stock options and RSUs, including:

● independent third-party valuations of our common stock;

● the prices at which others have purchased our stock in arm's-length transactions;

● the rights, preferences and privileges of our redeemable convertible preferred stock relative to those of our common stock;

● our financial condition, results of operations, and capital resources;

● the likelihood and timing of achieving a liquidity event, such as an initial public offering or sale of the company, given prevailing market conditions;

● the lack of marketability of our common stock;

● our estimates of future financial performance;

● valuations of comparable companies;

● the hiring or loss of key personnel;

● the status of our development, product introduction, and sales efforts;

● industry information, such as market growth and volume and macro-economic events; and

● additional objective and subjective factors relating to our business.

To determine the fair value of our common stock, we first determined our enterprise value and then allocated that enterprise value to our common stock and common stock equivalents. Our enterprise value was estimated using the market approach. The market approach measures the value of a business through an analysis of recent sales or offerings of comparable investments or assets, and in our case, focused on the sale of our common stock to arms-length purchasers and comparing us to a group of our peer companies. In applying this method, valuation multiples are derived from historical operating data of the peer company group. We then apply multiples to our operating data to arrive at a range of indicated values of the company. As an additional indicator of fair value, we provided weighting to arm's-length transactions involving issuances of our securities near the respective valuation dates in connection with acquisitions.

There is inherent uncertainty in these estimates as the assumptions used are highly subjective and subject to changes as a result of new operating data and economic and other conditions that impact our business.

Following the listing of our Class A common stock on the Nasdaq Capital Market, it will not be necessary to determine the fair value of our common stock, as our shares will be traded in the public market.

 ****

**Business**

**Overview**

**We believe in bringing people together and we are doing it with a free to Hosts person-to-person software platform for recreational vehicle rentals.**

We believe in bringing people closer together and we are doing it with a peer-to-peer (or person-to-person) marketplace for recreational vehicle ("RV") rentals, similar to Airbnb, but for RVs. Our features include:

● A free peer-to-peer platform with no listing or hosting fees to people who want to rent out their RVs, who we designate as "Hosts." There is a 3% processing fee paid by people who want to rent RVs, who we designate as "Guests." We do not charge any fees to Hosts.

● Complete business solution for an RV rental business, whether you have a fleet of one or 100 RVs.

● Compelling value-added services, like protection to our Hosts and Guests during rental transactions.

● A platform that is expanding rapidly with 73% growth in gross bookings\* and 153% growth in revenue in fiscal year 2021 over the same period in fiscal year 2020, even with the positive demand effects of the COVID-19 pandemic having waned. In fiscal year 2020, our gross bookings grew more than sixteen-fold, and our revenue grew more than four-fold, from fiscal year 2019, primarily due to the positive effects of the COVID-19 pandemic on the demand for RV rentals.

 \* Gross bookings represent the dollar value of bookings on our platform in a period and is inclusive of Host earnings, service fees, cleaning fees, and taxes, net of cancellations and alterations that occurred during that period.

We currently generate revenues from (1) our 'protection plan,' which protects the Guest and the Host during the rental period for damage caused to the RV and provides $1 million auto liability coverage that we arranged with a third-party underwriter; (2) the processing fee paid by Guests and (3) optional 24/7 roadside assistance services. Our protection plan and 24/7 roadside assistance services are part of a broader set of value-added services that we provide, as discussed further below.

We conduct our business through our website www.RVnGO.com. We provide the software and access to customers desired by Hosts. We also make it easy for Guests to find exactly what they are looking for and book the RV as easily as they would any other rental vehicle. We then provide peace of mind to both our Hosts and Guests through value-added services on every rental transaction, including protecting the integrity of the transaction before it takes place if the transaction is cancelled or failure by the Host to deliver the RV, and then during the rental if there is damage caused to the RV during the rental, arranged auto liability coverage, and other optional add-ons such as 24/7 roadside assistance services.

**Problem/Opportunity**

**Problem:** There is massive demand to rent RVs (see *Market Opportunity – RVing and Camping More Popular Than Ever,* below) but there is an acute shortage of RVs for rent because of off-season carrying costs. The over-demand for RVs has become more acute with the positive effects of COVID-19 on the demand to rent RVs. Aside from 2020, 2021 was the most popular year for searching the term 'RV rental,' according to Google Search Console, which we believe is one proxy showing the relative demand for RV rentals. The industry is highly fragmented, and it is hard for the estimated 2,500 small fleet owners (with an average of 20-25 units each) to reach customers without going through aggregator sites that charge as much as 30% in fees per transaction.

**Solution:** RVnGO created a complete business platform including listing, lead generation, eCommerce solution, a booking calendar, customer management, and fleet management, and we made it free. We provide peace of mind to the Guest and the Host through our value-added services that provide protection in the event of cancellation or non-delivery of the RV, damage to the RV during the rental and the arrangement of auto liability coverage provided by a third-party auto liability carrier, and roadside assistance.

**A Complete Business Solution with Transformational Economics:**

● RVnGO has created a complete and custom business solution, including a Listing Platform, Transaction Lead Generation, Booking Engine, Fleet Calendar and Customer and Fleet Management Tools, coupled with value-added services that provide peace of mind and trust for both the Guest and the Host during a rental transaction, and we made it all free to the Host, with the Guest paying the protection plan fees, the roadside protection fees, and a 3% processing fee.

● We arranged for up to $1 million in auto-liability coverage for the Guest and the Host by a third-party auto-liability carrier licensed in the United States for travel throughout the United States and Canada. This liability coverage comes standard and is automatically included with every rental.

● We believe our value-added services are compelling in their own right, with Hosts and Guests being able to purchase our RV rental value-added services and Guest and Host protection for transactions originated elsewhere, and up to 50% of our transactions in the summer of 2021 were for our value-added services only, where the Host and Guest originated the transaction directly, or on Facebook or Craigslist, or even competing platforms with finders' fees, and then came to RVnGO to book our value-added services for the transaction.

● We believe the transformational economics of our free platform has implications well beyond the RV industry.

**Market Opportunity – RVing and Camping More Popular Than Ever:**

● Before the COVID-19 pandemic, based on our own estimates, we believe there was demand for up to $35 billion annually in RV rental transactions, swamping the then-existing 200,000-unit fleet that met only $5 billion of that demand annually.

● Currently, there are between one to ten million searches every month for the keyword 'RV rental' and closely related keywords according to Google keyword search trends (www.trends.google.com) over the last twelve months.

● Management believes that no one in the current market processes more than 5% of RV rental transactions directly or indirectly. The largest fleet operator is Cruise America, with an estimated 5,000 units.

● The United States is estimated to represent about half of the market worldwide for RVs.

● In a 2021 study conducted by Ipsos for the RVDA and GoRVing, trends in RVing, including general interest and purchase intentions, particularly from more youthful demographics such as Millennials and more traditional demographic groups associated with RVing, provide a positive long-term outlook for the RV industry.

● A 2021 study conducted by Trips to Discover found that RV prices have increased 50% over the past decade, leading to an 80% increase in RV rentals.

● The latest KOA Research Report indicates that 38 percent of campers who have not traveled for a year or more plan to take at least one camping trip in 2022 despite higher fuel costs.

● On our platform, the average motor home rental is driven less than 180 miles per day, we believe that renting RVs will not be significantly affected by recent fuel price increases because the fuel costs are a relatively small portion of a trip's overall budget.

● The recreational vehicle rental industry remains highly seasonal, with most rentals occurring during the summer months, and in the past has also been highly cyclical, experiencing reduced demand corresponding with economic downturns as consumers reduce discretionary spending on vacations and luxury goods like RVs and RV rentals.

Management believes all these trends combine to provide a robust and positive backdrop for the continued growth of the RV industry, including RV rentals and the services provided by the Company.

**Business Model**

To bring people closer together, we made our platform free for Hosts rather than try to insert a new middleman collecting fees. We make our money from compelling value-added services, like our Guest and Host protection plan that provide peace of mind to both the Guest and Host by covering them in the event of cancellation or non-delivery of the RV as promised by the Host, damage to the RV during the rental and arranging up to $1 million third party auto liability coverage for the Guest and the Host, and optional roadside assistance. Hosts and Guests can purchase our value-added services for additional peace of mind on the RVnGO platform for transactions originated elsewhere, and about half of our transactions in the summer of 2021 were for our value-added services only, where the Host and Guest originated the transaction directly, or on Facebook or Craigslist, or even competing platforms with their transaction fees, and then came to RVnGO to buy our value-added services for the rental transaction.

As part of our value-added services protecting the Guest and Host during a rental, we have arranged up to $1 million third-party auto liability coverage to the Guest and the Host, in addition to other peace of mind features we provide to the Guest and Host in the event of cancellation, non-delivery or damage to the RV during the rental. The nightly value-added fee varies from $70 per night for a Class A RV (they look like a bus and tend to be the most expensive RVs) to as low as $25 for less expensive trailers and is paid by the Guest. If there is damage to the RV caused by the Guest, the Guest also pays a reimbursement deposit, which varies from $3,500 for a Class A down to $1,500 for less expensive trailers and we protect the Guest and Host for repairs in excess of the reimbursement deposit up to the lesser of replacement value or $200,000. We believe that on a stand-alone basis our value-added services are compelling in their own right as exemplified by the number of transactions where the Host has originated the transaction themselves and the Host or the Guest just buys our value-added services for the rental through our site. We removed the need for the Host to carry the more expensive commercial rental insurance through the protections we offer the Host through our value-added services. The Host is still required to carry regular insurance for when the RV is not being rented, which is commonly available and typically less expensive than commercial rental insurance.

In 2020, we surpassed 3,000 Nights Booked and 450 rental transactions, all time. The average transaction was 5.65 nights in 2020. In 2021, we more than doubled the number of people we brought together with over 1,200 transactions for more than 6,500 Nights Booked. The average transaction was 5.40 nights in 2021. In the first nine months of fiscal year 2022, we have already brought more people together with over 6,400 rental nights, almost matching the number of nights for the entire prior fiscal year, and nights per transaction averaging 5.43 nights.

**Impact of COVID-19**

Refer to the sections entitled "*Risks Factors*" for risks we face due to the COVID-19 pandemic and "*Management's Discussion and Analysis of Financial Condition and Results of Operations — Impact of COVID-19*" for information on the impact of COVID-19 on the Company its business.

**Traction**

We have the second and third largest fleets in the United States on our platform (El Monte and Road Bear respectively), and we do not believe they are listed on competing listing platforms.

After years of investment and building up our organic search profile, in May 2020 we began to see more organic traffic growth to our site, growing by 75-fold since the start of the COVID-19 pandemic, as measured by www.Ahrefs.com, with up to 185,000 monthly organic users (i.e., users that came to the RVnGO site either directly or through organic searches and excludes users that came to the site through paid ads) per month in September 2021. The traffic to our site is also highly seasonal as noted in "Seasonality of our Business" with the most traffic coming in the summer months and September.

**RVnGO Milestones**

● **Summer 2018**: Minimum viable product launched and first dollar of revenue.

● **Summer 2019**: RVnGO closed a Seed Equity Round that funded our start-up growth.

● **January 2020**: Reached 4,000 active listings, including the second largest RV fleet operator in the United States (El Monte).

● **Summer 2020**: Closed an equity round of financing that funded continued growth; organic traffic doubled monthly with the increased interest in RVing, largely due to the COVID-19 pandemic.

● **October 2020**: Added the ability for RV owners to list new and used RVs for sale. The feature is free and brings people together to buy and sell RVs. It allows Hosts to rent while they wait to sell, the unique ability for Guests to find RVs they can try before they buy, or rent to own, and it fits our Hosts' business models because they often both sell and rent RVs, and often wish to offer the same RV for sale or rent.

● **End of Fiscal Year 2020**: Finished the fiscal year with 1,594% growth in gross bookings from the prior year. RVnGO won the top prize in the Arizona Innovation Challenge run by the Arizona Corporate Authority recognizing Arizona's most innovative, fastest growing and most promising companies, beating out more than 400 other entrants.

● **February 2021**: Third largest fleet operator in America began listing on the platform (Road Bear), and RVnGO surpassed 200 fleet operators and 900 individual Hosts.

● **April 2021**: Growth continued for RVnGO during the traditionally slower off-season, reaching 45,000 monthly organic users as measured by Ahrefs.com.

● **September 2021**: Reached 185,000 monthly organic users as measured by Ahrefs.com.

● **End of Fiscal Year 2021**: Surpassed 16,000 active registered users including 1,900 Hosts and 350 fleet operators on the platform. We had 73% growth in gross bookings and 153% growth in revenue over the same period last year.

● **End of the Third Fiscal Quarter 2022**: More than 20,000 active registered users including 2,600 hosts and 550 fleet operators.

**Organic Growth**

Our organic traffic (i.e., traffic that came directly to the site or through organic search results and not paid advertisements nor AdWords), as measured by www.Afref.com, grew 1.5 times in the fourth quarter of fiscal year 2021 over the previous quarter and 5 times year-over-year compared to fiscal year 2020. Our organic traffic levels are up 75 times since the start of COVID in March 2020. Although the pandemic did provide a tailwind to the RV industry, people searching 'RV rentals' (and related terms) continue to be higher than pre-pandemic levels. For example, aside from 2020, 2021 was the most popular year for searching the term 'RV rental' according to Google Search Console. We believe our organic traffic growth to our website was one of the most significant developments for the Company, and after years of investing in building our organic traffic, the efforts appear have taken hold. It has been a complete team effort with everyone contributing to our organic growth. The growth of our active registered users (i.e., users that have come to the site and registered as a user by confirming their email and phone number, and have successfully logged onto the platform at least once) and our Hosts that have listings is illustrated by the following graphs:

![](formdrsa_010.jpg)

We also plan to expand beyond our current focus on the United States RV rental market with geographic expansion into other countries where RVing is popular, such as Canada, and adjacent vertical markets, including complimentary markets and asset classes to RV rentals.

**Our Platform**

Guests coming to RVnGO get a simple and straight forward way to book an RV. Guests can even look for RVs that they can 'book now', making the rental process as quick and easy as renting a car. Guest can search for available RVs by date, type and features.

![](formdrsa_011.jpg)

Guests can then review RVs for rent that match their criteria.

![](formdrsa_012.jpg)

To book their RV for rent, Guests are presented with a straightforward presentation of all the charges associated with the rental, and they can add options that are presented by Hosts.

![](formdrsa_013.jpg)

A registered user also automatically becomes an affiliate and gets a QR code and customer URL they can give to potential Hosts and Guests. Guests and Hosts that use that affiliate code to book a reservation or create a listing get a discount (10% up to $100 off their first RV rental trip and $100 on the first time they rent out their RV) and the affiliate that sent the QR code also gets an affiliate fee, $100 for a RV Rental listing and $50 for a Guest that takes a trip. The affiliate program pop-up is illustrated below:

![](formdrsa_014.jpg)

For Hosts, we give them a complete business solution with software tools to manage their inbox, a check-in and check-out calendar for their entire fleet, all their reservations, a unified calendar where they can track their bookings on RVnGO but also block out personal time when the RV is not available and track other bookings on other platforms or their own web page, track and manage their fleet and their customers so they can stay in touch and make plans for their next amazing RV adventure. The Host dashboard showing the fleet page where Hosts can preview their listing, edit it, access the RVs calendar, assign a consignment owner for automatic payout processing, and embed iFrame code of their listing into their own website to create a dynamic link to their listing is illustrated below:

![](formdrsa_015.jpg)

**Building Trust**

We believe in bringing people together to have amazing RVing experiences and we have found the best way to do that is to build trust in RVnGO by the Hosts and Guests that use our platform to find what they are looking for.

We verify the email, phone number and driver's license of our Guests. For Hosts and their listings, they are not made active (in other words they are not visible to the public) until the Host has confirmed their banking info with us and their identification, so Guests can rest assured that they are dealing with a real Host. RVnGO processes the transaction through our merchant service provider, Stripe, and holds release of funds to the Host until the Guest accepts the RV on check-in, or we process a refund as part of our value added services if the RV is not as advertised or was not delivered as promised. Then, on check-out when the RV is returned, the Host and Guest can automatically process any additional charges, such as extra mileage or generator use, and, if there was an accident or damage to the RV, start their report to request reimbursement through the RVnGO platform.

At the end of the transaction, the Guest and Host are invited to rate and review each other, and we present RVs and their Hosts with the best reviews and most responsiveness to inquiries first on search results where multiple RVs satisfy the search criteria.

**Our Growth Plans**

We plan to continue to grow the Company by expanding operations, significantly increasing advertising and promotion, and to improve margins on our service offerings.

*Our Marketing Team*

 

Our marketing team is primarily for driving demand and Guests to RVnGO. We will continue to invest in building our organic traffic to continue our organic growth and to prepare for significantly increased digital marketing.

We plan to hire one or two more team members to supplement the current team and we will continue to rely on consultants and outsourced content providers. We have grown the marketing team to 5 full-time equivalent employees ("FTEs") and plan to add 2-4 more before the summer of 2023.

We have established successful marketing and sales channels to our target markets, like our marketing on mass media, including ads on the reality TV show "The RVers" that airs on the Discovery Channel, National Geographic, the network of PBS stations and other networks, and expand others, like our sponsorship of NASCAR events. We also plan significant expansion in content and affiliate marketing and even larger increases in our digital marketing budgets in 2022, including search engine marketing, display or banner ads, social media marketing, and targeted or programmatical marketing and remarketing.

*Our Sales Team and Customer Support and Success Team*

 

Our sales team is based in the United States and is responsible for adding supply (Hosts and listings) to RVnGO. The team has grown to 4 FTEs and we plan to double the team before next summer. They are focused on bringing new Hosts to the platform but, most importantly, converting our fleet Hosts to full adoption where they use RVnGO to run their entire business and process all their transactions through us. Some of our Hosts have started to move towards this full adoption model. This is a significant development because, coupled with our organic traffic growth, Hosts that have established business originate 50%-75% of their own transactions, with platforms like RVnGO and our competitors pushing transactions into the remaining inventory. Full adoption can provide significant leverage to our growth because Hosts will begin processing through our platform the transactions they previously originated themselves.

Our Customer Success team is primarily responsible for driving full adoption of our platform to our Hosts so they process all of their transactions through RVnGO, taking advantage of our software which can provide all they need to run their RV rental business. In addition to regular transactions that we originate by giving Hosts transaction leads, Hosts can also process transactions through our site that are only for our value-added services if they originated the rental themselves or use our CRM (customer relationship management) tools to send quotes and initiate transactions with their client base. We are moving two team members from Customer Support to Customer Success, focusing on the success of our Hosts using our platform as their Host Account Reps. We plan to grow the team to at least 4 FTEs before the summer of 2023.

Our United States based Customer Support team provides support to our Guests and Hosts for all matters relating to RVnGO, including transaction, listing and software usage questions. We plan to scale the team as needed with growing transaction and help ticket volumes. In the summers of 2020 and 2021, the sales and marketing teams helped the call center with summertime volumes.

*Our Development Team*

 

Our Development Team plans to hire two senior hires and two or three junior developer hires to supplement the current team to maintain our favorable user experience advantage over our competitors. We plan to grow the team to at least 8 FTEs by summer of 2023 and is based in the United States.

Our General & Administrative team will be supplemented by the hiring of senior managers and administrative personnel to support being a publicly listed company with additional hires as needed before summer 2023. In the fourth quarter of 2021, we hired Bryan Kleinlein as our fulltime Chief Financial Officer and Gerald F. Hayden Jr. as our fulltime Chief Risk Officer and Secretary, see "Management" elsewhere in this prospectus.

*A Team with a Culture for Success*

As of [ ], 2023, we had approximately [ ] full-time employees and we use approximately 6 independent contractors located principally in the U.S., Canada, Thailand and India. We utilize these independent contractors to provide us with flexibility and incremental reach in certain areas, such as data entry, research, photography services, selected editorial content and software development. We believe that relations with our employees and independent contractors are positive.

Our business relies on our ability to attract and retain the right team. The Company was founded on the core belief of 'bringing people closer together' and that core belief runs throughout the organization; on how we work together, how we work with our customers, our values of honesty, integrity, respect and accountability, and even our business model where we decided to bring our Hosts and Guests closer together by making the platform free rather than interjecting another middleman with fees. We endeavor to maintain a workplace that is free from discrimination or harassment on the basis of color, race, sex, national origin, ethnicity, religion, age, disability, sexual orientation, gender identification or expression or any other status protected by applicable law. We have a policy on the prevention of sexual harassment and discrimination.

**Customers**

We have two types of customers in our marketplace, Hosts (that rent out their RV) and Guests (who rent the RV), representing the supply and demand side, respectively.

Of the Hosts, more than 2,100 are individuals that own a single RV listed for rent on RVnGO. An average RV owner is 48 years old, based on the February 2021 study "go RVing, Recreational Vehicle Owner Demographic Profile" prepared by Ipsos for the RVDA. We also have more than 550 fleet owners that own more than one RV for rent on RVnGO, including the second largest fleet in the U.S., El Monte, and the third largest fleet in the U.S., Road Bear.

For Hosts, we are unique because we are a free listing and transaction platform, unlike our peer-to-peer channel competitors that charge up to 30% in fees, so if they are going to list their inventory on the internet and be searchable by Google, they are incentivized to list on RVnGO. Most fleets still carry monthly commercial rental insurance, but full adoption comes when the fleet processes all their transactions through RVnGO. In addition to sending Hosts transactions originated by RVnGO, we give the Host the ability to originate a transaction with customer relationship management (CRM) tools to their customer base, and provide our value-added services to provide peace of mind for those transactions, even if they originated the transaction themselves. We also provide enterprise resource planning (ERP) tools so they can manage their rental fleet, including unified booking calendars, detailed check-in and check-out checklists, and other fleet management tools such as maintenance reminders. In essence, we have created a complete business solution for an RVnGO franchise enabling them to run an RV rental business on our platform for free and without fees, whether they have a fleet of one or 100.

We currently have over 20,000 active registered Guests with RVnGO (we define an active user as someone who has registered with our platform and we confirmed their phone number, email and they successfully logged in at least once). They fall into two primary categories, young families looking for a family RV experience, and millennials looking for an RV experience that will give them the experience of camping without roughing it.

Across the board, the COVID-19 pandemic has driven further demand to rent RVs and generally increased interest in RVing. We believe that after COVID-19, some of those effects will be long-lasting, with more people discovering RVing that would not have otherwise, and with travel preferences having been affected in the long-term, and at a minimum, we believe the RV sector will avert any economic slowdown during this economic cycle. We believe that the summer of 2021 saw a return to a new normal in the industry. Aside from 2020, 2021 was the most popular year for searching the term RV rental, as measured by Google Search Console. With the return of mass events like music festivals, football tailgating, cultural festivals like Burning Man, and RV gatherings and jamborees, we expect the demand for RVing to continue to be strong. In the first nine months of fiscal year 2022, we have already surpassed all of fiscal year 2021 in terms of gross bookings, even though we believe the effects of the pandemic have now largely waned in the United States in the RV rental industry, demonstrating the Company's growth relative to the easing of the positive demand we experienced from the pandemic, and the new normal with RVing becoming more popular.

**Competition**

*Competitive Landscape*

 

Main Competitors: Our main competitors are Outdoorsy and RVShare. Another form of competition we face is from Hosts that operate independently without being on a person-to-person or peer-to-peer platform like RVnGO.

Competitive Advantage over other peer-to-peer platforms: None of our channel competitors (RVShare and Outdoorsy) offer a free to Hosts peer-to-peer platform, instead charging fees of up to 30%. By cutting out middlemen, we have achieved pricing power for our value-added services. For example, the same transaction processed through RVnGO is approximately 22%-49% cheaper than competing platforms as benchmarked by management by processing the same three-night transaction through all three platforms. Management believes that those competing platforms may charge different transaction fees to different hosts, and accordingly actual price differences may vary on competing platforms. RVnGO does not vary the fees charged to our Hosts, it is always zero whether the Host operates a fleet of one RV or 5,000 RVs, providing a level playing field for all Hosts in our RV rental marketplace.

Our channel competitors have also focused on individual Hosts versus our focus on both individual Hosts and fleet Hosts (with more than one RV for rent). We believe there is more than enough demand and it will require both types of Hosts to meet the growing demand. Neither of our channel competitors provide CRM tools (customer relationship management) and ERP tools (enterprise resource planning such as a consolidated check-in and check-out calendar, a booking engine, a unified online availability calendar that consolidates multiple calendars, fleet management and maintenance and reporting tools) that Hosts can use within their own web site or computer systems to run an RV rental business. RVnGO provides all those tools for free as part of RVnGO's platform. on RVnGO, Hosts can easily embed their listing or booking calendar within their own website and have the tools they need to run their business. Outdoorsy does have a subsidiary called Wheelbase that provides ERP tools that can embed into the Hosts' web platform for a fee, but Wheelbase does not provide any leads or customers to the Host, which is all provided through Outdoorsy and their accompanying fees. RVnGO does the same, including providing leads, for free.

Competitive Advantage over Traditional RV Rental Insurance and Go-It-Alone Hosts: Most of the professional fleet Hosts carry their own RV rental insurance product and then source their customers themselves primarily through legacy or repeat Guests and their own website and listings on free marketplaces like Craigslist or Facebook marketplace. Based on our estimates and industry data gathered through the National Recreational Vehicle Dealers Association ("RVDA") network, we believe that such Host-sourced transactions can be between 50-75% of their inventory for established Hosts and that the average profit margin for professional fleet Hosts is approximately 20%. We further believe these Hosts have generally resisted peer-to-peer platforms like RVShare and Outdoorsy because of their fees. Some Hosts do list on these competing platforms to book the remainder of their calendar and tend to mark up their rates to cover the fees charged on those platforms.

The primary advantage that RVnGO offers over the go-it-alone model is that we (i) provide an easy platform to list on the internet, (ii) provide an eCommerce engine to process transactions, (iii) provide a booking calendar to keep track of all bookings, (iv) provide customer relationship tools to reach out to their customers and send quotes, (v) provide fleet management tools to help Hosts manage their RVs, (vi) remove the need for the Host to pay a monthly commercial vehicle rental insurance premium to rent the RVs and only carry regular (non-commercial) insurance through the auto-liability coverage we arranged and paid for by the Guest, (vi) through our contractual damage protections, if there is damage caused by the Guest during the rental the Host no longer needs to pay a deductible to a commercial insurance provider, and (vii) provide leads and customers to book the remainder of their inventory of available rental nights.

With RVnGO, the monthly insurance premium normally paid by the Host to commercial vehicle rental carriers is no longer needed with RVnGO's value-added services including our protection plan and including the third-party auto liability coverage we have arranged for them and now paid by the Guest. Based on our estimates and industry data gathered through the RVDA network, we believe Hosts spend between 15%-20% of their gross bookings annually on insurance related costs, merchant banking expenses are normally 3%, and marketing and lead-generation expenses range from another 5%-10%, so if they fully adopt RVnGO, they could significantly increase their profits.

Traditional insurance companies do not provide customers or leads to their customers (our Hosts). RVnGO has an advantage because it does provide leads to the Hosts to fill out their calendars, for free.

Traditional insurance companies do not provide software tools for Hosts to run their RV rental business, such as a booking engine to process their transaction, an availability calendar and integration with leads that are generated, but RVnGO does, and it does so for free.

**Seasonality in Our Business**

Although RVs are sold throughout the year, the use of RVs and the demand for RV rentals is highly seasonal in the United States during the peak summer months. Peak season starts on the Memorial Day Weekend in May and ends on the Labor Day Weekend in September. In northern states, there is nearly zero demand for RV rentals or usage during the winter because the RVs have been winterized, meaning all fluids have been drained to protect from damage from freezing, and RVs are generally not suitable for driving in winter conditions. In southern states, the winter demand is not zero, but it is still significantly less than during the summer months when families typically take their summer vacations. From our own data and from industry sources, about 80% of RV rentals in the industry generally take place during the peak summer period.

**Intellectual Property**

Our business depends on the creation, acquisition, use and protection of intellectual property. Some of this intellectual property includes software code, with respect to which we own the intellectual property rights. Other intellectual property we create includes audio-visual elements, such as graphics, photographs, videos, music and user interface design. We also own the intellectual property rights to our promotional material, such as the advertising and branding of the events that we organize as well as the services and products that we offer. As of the date of this prospectus, we own registered trademarks and domain names, related domains and sub-domains, for RVnGO, in various jurisdictions around the world. Our registered trademarks include certain of our corporate names, logos, slogans, brands, service marks and website domain names associated with RVnGO.

We protect these intellectual property rights and maintain our competitive position by relying on domestic and international registrations, common law rights, trade secrets and know-how protections and patent applications for non-trade secret inventions, as well as through contractual restrictions under confidentiality and invention and/or artwork assignment agreements that we enter into with our employees and consultants. These agreements generally provide that all inventions, artwork, or other proprietary information developed or made known during the course of an individual's relationship with us is owned by us and, where applicable, must be kept confidential during the relationship and for a certain period of time after the relationship terminates. We also actively engage in monitoring and enforcement activities with respect to infringing uses of our intellectual property by third parties. Conversely, we manage intellectual property infringement risk through content and brand clearance protocols, both internally and through outside counsel.

**Our Approach to Data Protection and Privacy and other Regulatory Requirements**

We are subject to various federal, state and international laws and regulations that affect companies conducting business on the Internet and mobile platforms, including those relating to privacy, collection of data from minors, use and protection of consumer and employee personal information and data (such as the CCPA), the Internet, behavioral tracking, mobile applications, content, advertising and marketing activities (including sweepstakes, contests and giveaways) and anti-corruption (such as the FCPA). Additional laws in all of these areas are likely to be passed in the future, which could result in significant limitations on or changes to the ways in which we can collect, use, host, store or transmit the personal information and data of our audience, customers and/or employees, communicate with our audience and deliver products and services, which may significantly increase our compliance costs. We publish our privacy policies and terms of service on our websites, which describe our practices concerning the use, transmission and disclosure of such information.

In addition, several foreign countries and governmental bodies, including the EU, have laws and regulations to which we are subject and that address the collection, use, disclosure and protection of information, such as the GDPR, which are generally more restrictive than those in the U.S. Although we do not operate in the EU, we do have users in the EU that register on our platform and rent a RV as a Guest from one of our Hosts in the United States.

Although sensitive financial and personal data such as social security numbers and banking information is not stored with us, but instead directly with our merchant banking provider, we do collect necessary data from our users such as names, profile and RV rental pictures, location of rental RVs and information about those RVs. As our data collection activities are subject to these privacy and security regulations, we expect that our compliance requirements and costs will continue to increase, and we may be subject to regulatory scrutiny over such practices. Any actual or perceived failure to comply with data privacy legal and regulatory requirements may result in, among other things, revocation of required certifications or registrations, loss of approved status, private litigation, regulatory or governmental investigations, administrative enforcement actions, sanctions, civil liabilities, criminal fines and penalties, and constraints on our ability to continue to operate.

RVnGO has arranged $1 million auto-liability aggregate coverage for the Guest and Host by Crum & Forster, a surplus lines auto-liability carrier. They provide auto-liability coverage for travel throughout the United States and Canada but do not cover travel to Mexico or other countries.

Unlike the short-term vacation rental industry lead by companies such as Airbnb and VRBO or the ride share industry with companies like UBER and Lyft, we are not aware of regulations purporting to regulate nor restrict RV rentals.

For an additional discussion on governmental regulation affecting our business, please see "*Risk Factors*."

**Facilities**

Our corporate headquarters is located in Phoenix, Arizona and consists of private offices in a flexible space environment with locations through the greater Phoenix area on a month-to-month office share agreement as we have permanently adopted working remotely since the pandemic. Team members working in other cities have the option to also rent shared office space that is convenient to their location. We have found that we have not lost productivity working remotely as long as there are meeting rooms available if two or more employees need to meet in person, and the costs are a fraction of having dedicated space for everyone. Renting flexible office space also lets us expand as needed. We have 19 full-time employees as of our fiscal year-end and 25 as of the nine months ended August 31, 2022. It would have been difficult to accommodate 30% growth in our team in the last nine month ended August 31, 2022 if we had fixed office space as we would have already outgrown our fixed offices we had under lease in 2020, and we believe our current shared office space arrangement is adequate for our foreseeable requirements.

**Legal Proceedings**

We are involved in various routine legal and administrative proceedings incidental to the ordinary course of our business. We believe that the outcome of all pending legal proceedings in the aggregate is not reasonably likely to have a material adverse effect on our business, prospects, results of operations, financial condition and/or cash flows. However, in light of the uncertainties involved in legal proceedings generally, the ultimate outcome of a particular matter could be material to our operating results for a particular period depending on, among other things, the size of the loss or the nature of the liability imposed and the level of our income for that particular period.

There are no proceedings in which any of our directors, executive officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to our interest. Litigation or any other legal or administrative proceeding, regardless of the outcome, is likely to result in substantial costs and diversion of our resources, including our management's time and attention. See "*Risk Factors—Risks Related to Our Operations as Whole—We are, and may in the future be, subject to legal proceedings in the ordinary course of our business. In addition, as a public company, we will be at an increased risk of securities class action litigation.*"

**Management**

**Executive Officers and Directors**

The following table sets forth information regarding our executive officers and directors as of the date of this prospectus:

---

| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position** |
| Paul Kacir | 56 | Chief Executive Officer and Chairman of the Board of Directors |
| Gerald F. Hayden Jr. | 63 | Chief Risk Officer, Secretary, and Director |
| Bryan Kleinlein | 51 | Chief Financial Officer |
| Frederick W. Weidinger | 63 | Director |
| Korey A. Boals | 48 | Director |
| [ ] | [___] | Director |

---

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.

***Paul Kacir, Chief Executive Officer and Chairman of the Board.*** Mr. Kacir has served as the chair of the board of directors and Chief Executive Officer since the Company was founded in 2015. Mr. Kacir has over 20 years' experience with growing technology companies. Prior to serving as Chief Executive Officer, Mr. Kacir served as the vice-president and general counsel of First Solar, Inc. (FSLR and S&P 500 at the time), a leading thin-film solar panel manufacturer headquartered in Phoenix, Arizona, from 2006 to June 2009. Mr. Kacir, in his capacity as the vice-president and general counsel of First Solar, Inc., led First Solar through its IPO in November 2006. From 2000 to 2006, Mr. Kacir served as the vice-president and general counsel of Creo Inc., (TSX:CRE, NASDAQ:CREO and TSX 300 at the time), a leading pre-press equipment and software provider headquartered in Vancouver, British Columbia. Prior to joining Creo, Mr. Kacir was a mergers & acquisitions and securities lawyer for Lang Michener, a leading Canadian law firm. Mr. Kacir has a Bachelor of Economics from the University of Western Ontario, a law degree from the University of New Brunswick and a Master's in Business Administration from the University of British Columbia. We believe that Mr. Kacir is qualified to serve as our Chief Executive Officer and on our board of directors because of his extensive management, corporate governance and compliance and leadership experience, particularly with growing technology companies, and his background in Economics, Corporate Law and Business Administration.

 ****

***Gerald F. Hayden Jr., Director, Secretary and Chief Risk Officer***. Director, Secretary and Chief Risk Officer. Mr. Hayden has served as our Secretary and Chief Risk Officer since December 1, 2021 and is a member of our board of directors since its formation in 2015. Prior to joining the company, Mr. Hayden was General Counsel, Miskawaan Health Group Limited in Bangkok, Thailand. Prior to his General Counsel experience, Mr. Hayden was a Partner with Dentons LLP Corporate Law Group in Vancouver, Canada from 2018 to 2020. In 2017, Mr. Hayden operated his own company providing legal services. Mr. Hayden is an accomplished cross-border corporate transactional lawyer with over 25 years of experience who has worked extensively in Europe, the United States, Australia and Asia. Mr. Hayden received his Bachelor of Commerce from Queen's University and his LLB from Osgoode Hall Law School. We believe that Mr. Hayden is qualified to serve on our board of directors because of his extensive expertise across corporate and commercial transactions including public and private M&A and equity/debt financing transactions. Mr. Hayden has been a director of public and private companies.

***Bryan Kleinlein, Chief Financial Officer.*** Mr. Kleinlein has served as our Chief Financial Officer since September 27, 2021. Prior to joining our Company, Mr. Kleinlein served as Treasurer and Assistant Chief Financial Officer of Best Western International, Inc. from December 2015 to September 2021. Mr. Kleinlein has 20 years of finance and treasury experience, and has been responsible for managing $1 billion of global capital and leading strategic financial planning, treasury and international expansion efforts for multi-national companies. He has successfully managed annual cash flows of over $700 million, and has lead global insurance efforts at Fortune 1000 companies. Mr. Kleinlein holds an MBA from Thunderbird School of Global Management and an undergraduate degree in Finance from Illinois State University, where he received scholastic and athletic honors.

***Frederick W. Weidinger*** has served as a member of our board of directors since [ ]. Mr. Weidinger is a serial entrepreneur who has created a legacy of over 25 years of innovation and technology success stories. He is currently the Founder, Chairman, CEO and majority owner of machine vision software company Robotic Vision Technologies Inc. that he founded in 2010. Previously he was a chief architect behind the growth of highly regarded fiber optic telecommunications companies Metropolitan Fiber Systems and Pontio Communications Company. At Pontio, he was Chairman, CEO and majority shareholder, which he sold to a Fortune 50 company. Prior to Pontio, Mr. Weidinger served as a founding member of Metropolitan Fiber Systems where he was responsible for over 25 transactions in the fiber optic and internet service provider businesses representing over $25 billion dollars in shareholder value. Mr. Weidinger has been owner of Indy 500 cars as well as the owner of A1 Team USA representing the United States of America in the open-wheel Formula Series A1 Grand Prix World Cup of Motorsports. Mr. Weidinger holds a law degree and a Master's in Business Administration degree from Creighton University and a Bachelor of Science degree in finance from the University of Nebraska. We believe that Mr. Weidinger is qualified to serve as a member of our board of directors because of his extensive business, legal and financial experience.

***Korey A. Boals*** has served as a member of our board of directors since [ ]. Mr. Boals is the principal of his accounting firm, AA Tax CPA. Mr. Boals works with individuals and businesses in all industry types but specializes in many areas of the real estate industry including investors, builders, developers, management companies, attorneys, and architect clients. Mr. Boals was a U.S. Congress and City of Scottsdale Council campaign treasurer, appears on KFNN financial news radio and has been an advisor to BusinessWeek Small Biz magazine. In addition to Mr. Boals's professional successes, he has always been a civic-minded member of the community, and is currently involved in a number of philanthropic endeavors. Mr. Boals is a Life member of the Scottsdale Charros and member since 2011. He is a Life member of the Scottsdale Saguaros (formerly Scottsdale Active 20-30 Club) and member since 2005, Foundation President in 2010, President in 2009, a 2006 Fly Away committee member and a 2006 to 2009 Nite Flite committee member while running the event as the 2007 Chairman. Mr. Boals served as an Advisory Board member from 2011 to 2014, and past Board member from 2007 to 2011 for Teen Lifeline which is a peer to peer teen hotline to help teens make healthy decisions. Mr. Boals was a Board member of Miracle League of Arizona from 2011 to 2015. He was a 2008 AZ's Finest Honoree and the Traveling Trophy award winner for being the highest fundraiser and the 2009 Sponsorship Co-Chair for the Cystic Fibrosis Foundation. As a founding Board member and Treasurer of the Joyner Walker Foundation from 2007 to 2009, which supports the financial literacy for low-income at-risk students, he also served as a Board member and Treasurer for the Sigma Chi Educational Foundation at Valparaiso University from which provides educational scholarships to deserving students. He was a member and the Professional Development Chair for Get Phoenix and of Business Network International. Mr. Boals is a current member of the American Institute of Certified Public Accountants and the Arizona Society of Certified Public Accountants. Mr. Boals holds a Bachelor of Science degree in Accounting from Valparaiso University in northwest Indiana.

***[ ]*** has served as a member of our board of directors since __________*.*

**Board Structure**

Upon completing this offering, our board of directors will consist of 5 members, a majority of which qualify as independent directors under Nasdaq Listing Rules and the Board's Guidelines for Assessing Director Independence. The term of each director will continue until the election and qualification of their successor, subject to their earlier death, disqualification, resignation or removal. Our board of directors may establish the authorized number of directors from time to time by resolution and our board of directors shall have the right to fill such vacancies, subject to stockholder approval at the annual stockholders' meeting following their initial appointment by our board of directors.

We intend to establish and maintain independent audit, nominating and corporate governance and compensation committees, each as further described below under the subheading *"—Committees of our Board of Directors*."

**Family Relationships**

There are no family relationships between any of our executive officers or directors.

**Status as a Controlled Company under the Nasdaq Listing Rules**

Upon completing this offering, our directors, officers, and principal stockholders will continue to control a majority of the voting power of our outstanding common stock. As a result, we will be a "controlled company" within the meaning of the Nasdaq Listing Rules. Under these rules, a listed company of which more than 50% of the voting power is held by an individual, group or another company is a "controlled company" and may elect not to comply with certain corporate governance requirements, including:

● the requirement that a majority of the board of directors consist of independent directors;

● the requirement that our nominating and corporate governance committee be composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities;

● the requirement that our compensation committee be composed entirely of independent directors with a written charter addressing the committee's purpose and responsibilities; and

● the requirement for an annual performance evaluation of our corporate governance and compensation committees.

While we are not currently relying on any of these corporate governance exemptions, we may in the future avail ourselves of the flexibility that some or all of these exemptions offer. If we were to utilize these exemptions, in whole or in part (such as by not maintaining a majority of independent directors on our board of directors and/or not maintaining a fully independent compensation committee and/or nominating and corporate governance committee), you will not have the same protections afforded to stockholders of companies that are subject to all of the Nasdaq rules regarding corporate governance.

**Director Independence**

Our board of directors has undertaken a review of its composition, the composition of its committees and the independence of each director. We use the definition of "*independence*" of Nasdaq to make this determination. Nasdaq Listing Rule 5605(a)(2) provides that an "*independent director*" is a person other than an officer or employee of the company or any other individual having a relationship which, in the opinion of our board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.

Based upon information requested from and provided by each director concerning his background, employment and affiliations, including family relationships, our board of directors has determined that Messrs. Weidinger, Boals and [ ] do not have any relationships that would interfere with the exercise of their independent judgment in carrying out their responsibilities as directors and that each of these directors is "independent" as that term is defined under the applicable SEC rules and regulations and Nasdaq's listing requirements and rules. In making this determination, our board of directors considered the current and prior relationships that each non-employee director has with our Company and all other facts and circumstances that our board of directors deemed relevant in determining their respective independence.

**Committees of our Board of Directors**

Our board of directors has established three standing committees: an audit committee, a compensation committee and a nominating and corporate governance committee, each of which will have the composition and responsibilities described below upon completing this offering. Following the closing of this offering, each committee's charter will be posted on the investor relations section of our website *www.rvngo.com*. Members serve on these committees until their resignation or until otherwise determined by our board of directors. Our board of directors may establish other standing and/or ad hoc committees as it deems necessary or appropriate from time to time.

***Audit Committee***

 ****

Our audit committee will consist of Messrs. Boals, Weidinger and [ ], each of whom our board of directors has determined satisfies the independence requirements under the Nasdaq Listing Rules and Rule 10A-3 of the Exchange Act. The chair of our audit committee will be Mr. Boals, whom our board of directors has determined is an "audit committee financial expert" within the meaning of SEC regulations. Each member of our audit committee can read and fundamentally understand financial statements in accordance with applicable requirements.

 ****

The primary purpose of the audit committee will be to discharge the responsibilities of our board of directors with respect to the oversight of our corporate accounting and financial reporting processes, systems of internal control and financial statement audits, and to oversee the retention and performance of our independent registered public accounting firm. Specific responsibilities of our audit committee will include:

● leading our board of directors in its oversight of our corporate accounting and financial reporting processes;

● reviewing and discussing with management press releases regarding our financial results and any other information provided to securities analysts and rating agencies, including our use of any Non-GAAP Measures ;

● managing the selection, engagement, qualifications, independence and performance of a qualified auditing firm to serve as our independent registered public accounting firm to audit our financial statements;

● discussing the scope and results of the independent audits and interim audit reviews with the independent registered public accounting firm, and reviewing, with management and the independent accountants, our interim and year-end operating results;

● developing procedures for employees to submit concerns anonymously about questionable accounting or audit matters;

● reviewing and approving any related-party transactions, after reviewing each such transaction for potential conflicts of interests and other improprieties;

● obtaining and reviewing a report by the independent registered public accounting firm at least annually that describes our internal quality control procedures, any material issues with such procedures and any steps taken to deal with such issues when required by applicable law;

● approving or, as permitted, pre-approving, audit and permissible non-audit services to be performed by the independent registered public accounting firm;

● overseeing our internal audit function;

● overseeing risk management policies, procedures and practices;

● considering and presenting, jointly with our nominating and corporate governance committee, to the board of directors for adoption a code of business conduct and ethics applicable to all employees and directors; and

● together with our Chief Legal and Compliance Officer, reviewing and investigating conduct alleged to be in violation of our code of business conduct and ethics , and adopting as necessary or appropriate, remedial, disciplinary or other measures with respect to such conduct.

Our audit committee will operate under a written charter, to be effective prior to completing this offering, that satisfies the applicable Nasdaq Listing Rules.

***Compensation Committee***

 ****

Our compensation committee will consist of Messrs. Boals, Weidinger and [___________] each of whom our board of directors has determined is independent under the Nasdaq Listing Rules and is a "non-employee director," as defined in Rule 16b-3 promulgated under the Exchange Act. The chair of our compensation committee will be Mr. Weidinger.

The primary purpose of our compensation committee will be to discharge the responsibilities of our board of directors in overseeing our compensation policies, plans and programs and to review and determine the compensation to be paid to our executive officers, directors and other senior management, as the compensation committee deems appropriate from time to time. Specific responsibilities of our compensation committee will include:

● reviewing and advising the board of directors concerning our overall compensation, philosophy, policies and plans, including reviewing both regional and industry compensation practices and trends;

● determining any peer group used for executive compensation comparison purposes;

● reviewing and approving corporate and personal performance goals and objectives relevant to the compensation of all executive officers, and making recommendations to the board of directors regarding all executive officer compensation (including but not limited to salary, bonus, incentive compensation, equity awards, benefits and perquisites);

● reviewing, adopting, amending and terminating any incentive compensation and equity plans, severance agreements, profit sharing plans, bonus plans, change-of-control protections and any other compensatory arrangements for our executive officers and other senior management;

● reviewing and discussing with management the disclosures regarding executive compensation to be included in our public filings or shareholder reports;

● reviewing and recommending to our board of directors the compensation paid to our directors;

● overseeing succession planning for executive officers jointly with our nominating and corporate governance committee; and

● reviewing key strategic human resource activities, including those relating to diversity, training and recruitment.

Our compensation committee will operate under a written charter, to be effective prior to completing this offering, that satisfies the applicable Nasdaq Listing Rules.

 **

***Nominating and Corporate Governance Committee***

 **

Our nominating and corporate governance committee will consist of Messrs. Boals, Weidinger and [_________], each of whom, our board of directors has determined, is independent under the Nasdaq Listing Rules. The chair of our nominating and corporate governance committee will be Mr. [________].

Specific responsibilities of our nominating and corporate governance committee will include:

● evaluating and selecting, or recommending to our board of directors nominees for each election of directors, except that if we are at any time legally required by contract or otherwise to provide any third party with the ability to nominate a director, our nominating and corporate governance committee need not evaluate or propose such nomination, unless required by contract or requested by our board of directors;

● determining criteria for selecting new directors, including desired board skills, experience and attributes;

● considering any nominations of director candidates validly made by our stockholders;

● reviewing and making recommendations to our board of directors concerning qualifications, appointment and removal of committee members;

● developing, recommending for approval by our board of directors and reviewing on an ongoing basis the adequacy of the corporate governance principles applicable to us, including, but not limited to, director qualification standards, director responsibilities, committee responsibilities, director access to management and independent advisors, director compensation, director orientation and continuing education, management succession and annual performance evaluation;

● considering and presenting, jointly with our audit committee, to the board of directors for adoption a code of business conduct and ethics;

● reviewing and recommending to our board of directors changes to our bylaws as needed;

● developing orientation materials for new directors and corporate governance-related continuing education for all directors; and

● overseeing succession planning for executive officers jointly with our compensation committee.

Our nominating and corporate governance committee will operate under a written charter, to be effective prior to completing this offering, that satisfies the applicable Nasdaq Listing Rules.

**Code of Business Conduct and Ethics**

In connection with this offering, we intend to adopt a written code of business conduct and ethics. Our code of business conduct and ethics is intended to document the principles of conduct and ethics to be followed by all of our directors, officers and employees. Its purpose is to promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest. Following the closing of this offering, the full text of our code of business conduct and ethics will be posted on the investor relations section of our website, *www.rvngo.com*. We intend to disclose future amendments to certain provisions of our code of business conduct and ethics, or waivers of these provisions, on our website or in filings under the Exchange Act.

**Executive Compensation**

We have opted to comply with the executive compensation disclosure rules applicable to "smaller reporting companies," as such term is defined in the rules promulgated under the Securities Act. In accordance with these rules, our "named executive officers" for fiscal year 2022 were:

● Paul Kacir, our Chief Executive Officer;

● Gerald F. Hayden Jr., our Chief Risk Officer and Secretary; and

● Bryan Kleinlein, our Chief Financial Officer.

This discussion may contain forward-looking statements that are based on our current plans, considerations, expectations and determinations regarding future compensation programs. Actual compensation programs that we adopt upon completing this offering may differ materially from the currently planned programs and arrangements summarized in this discussion, including the terms of the Incentive Compensation Plan.

**2021 Summary Compensation Table**

The following table sets forth information concerning the compensation of our named executive officers for the fiscal years indicated below.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and Principal Position** | **Fiscal Year** | **Salary ($)** |  | **Bonus ($)** |  | **Option Awards ($)(1)** | **All Other Compensation ($)** | **Total Compensation ($)** |
| Paul Kacir | 2022 | $300000 | (2) | $— |  | $— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $300000 |
| &nbsp;&nbsp;&nbsp;*Chief Executive Officer* | 2021 | $362007 | (2)(3) | $— |  | $107594 | $— | $469601 |
| Gerald F. Hayden Jr. | 2022 | $185000 | (4) | $— |  | $135807 | $— | 320807 |
| &nbsp;&nbsp;&nbsp;*Chief Risk Officer and Secretary* |  |  |  |  |  |  |  |  |
| Bryan Kleinlein | 2022 | $185000 | (5) | $— |  | $— | $— | $185000 |
| &nbsp;&nbsp;&nbsp;*Chief Financial Officer* | 2021 | $41620 | (5) | $30000 | (6) | $131533 | $— | $203153 |

---

 ****

&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 amounts represent the aggregate grant date fair value of option awards granted during the respective fiscal year calculated in accordance
 with ASC Topic 718. Assumptions used in the calculation of these amounts are included in Note 8 to
 our financial statements included elsewhere in this prospectus . See "—2022 Outstanding Equity Awards at Fiscal
 Year-End" for additional information regarding the options awards.

(2) Mr.
 Kacir's base annual salary was increased to $300,000 as of June 2020 and includes loan forgiveness amounts for fiscal year
 2021.

(3) Mr.
 Kacir elected to forgo $180,000 of his fiscal 2021 salary in exchange for warrants to purchase (i) 399,999 shares of
 our Class A common stock at an exercise price of $0.30 per share; (ii) 266,666 shares of our Class A common stock at an exercise
 price of $0.40 per share; and (iii) 266,666 shares of our Class A common stock at an exercise price of $0.50 per share. The warrants
 expire five years from the date of grant. The grant date fair value of the warrants was $190,069, of which the amount in excess
 of the $180,000 of salary forgone is $10,069 and is a component of the amount reported in the "Option Awards" column.

(4) Mr. Hayden joined the Company on December 1, 2021 with
 a base annual salary of $185,000.

(5) Mr.
 Kleinlein joined the Company on September 27, 2021 with a base annual salary of $185,000.

(6) The
 amount represents a sign-on bonus as part of Mr. Kleinlein's offer of employment.

**Elements of our Company's Executive Compensation Program**

For 2022, the compensation for our executive officers generally consisted of a base salary, a corporate bonus target, standard employee benefits and incentive stock option grants. Upon completing this offering, we may also grant equity awards and cash bonuses as part of our executive compensation program for executive officers and other employees, as determined by our board of directors or our compensation committee.

***Base Salary***

 ****

Our executive officers receive a base salary to compensate them for services rendered to our Company. The base salary payable to each executive officer is intended to provide a fixed component of compensation reflecting the executive's skill set, experience, role, and responsibilities. Base salaries may be increased based on the individual performance of the executive officer, Company performance, any change in the executive's position within our business, the scope of their responsibilities and any changes thereto. Base salaries may also be increased as required under the terms of an executive officer's employment agreement, as applicable.

***Equity Compensation***

 ****

In 2017, the Company adopted the Incentive Compensation Plan, which was amended and restated on March 15, 2022, to facilitate the grant of equity awards to our employees, consultants, and directors for the purposes of obtaining and retaining services of these individuals, which we believe is essential to our long-term success. For additional information about the Incentive Compensation Plan, see "—*Incentive Compensation Plan*" below.

***Other Elements***

 ****

We provide various employee benefit programs to our named executive officers, including health and life insurance benefits, which are generally available to all of our employees.

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

The following table contains information with respect to outstanding equity awards held by our named executive officers as of November 30, 2022:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Grant Date** | **Grant Type(1)** | **Number of Securities Underlying Unexercised Options (#) Exercisable** | **Number of Securities Underlying Unexercised Options (#) Unexercisable** |  | **Option Exercise Price ($)** | **Option Expiration Date** |
| Paul Kacir | 2/28/2017 | Warrants | 1112000 |  |  | $0.25 | 2/28/2022 |
|  | 1/01/2018 | Warrants | 246666 |  |  | $0.125 | 1/01/2023 |
|  | 2/01/2018 | Warrants | 246666 |  |  | $0.125 | 2/01/2023 |
|  | 3/01/2018 | Warrants | 246666 |  |  | $0.125 | 3/01/2023 |
|  | 4/01/2018 | Warrants | 246666 |  |  | $0.125 | 4/01/2023 |
|  | 5/01/2018 | Warrants | 246666 |  |  | $0.125 | 5/01/2023 |
|  | 6/01/2018 | Warrants | 246666 |  |  | $0.125 | 6/01/2023 |
|  | 7/01/2018 | Warrants | 246666 |  |  | $0.125 | 7/01/2023 |
|  | 8/01/2018 | Warrants | 246666 |  |  | $0.125 | 8/01/2023 |
|  | 9/01/2018 | Warrants | 246666 |  |  | $0.125 | 9/01/2023 |
|  | 10/01/2018 | Warrants | 246666 |  |  | $0.125 | 10/01/2023 |
|  | 10/30/2018 | Warrants | 200000 |  |  | $0.125 | 10/30/2021 |
|  | 10/30/2018 | Stock Options | 1000000 |  |  | $0.125 | 10/30/2028 |
|  | 11/01/2018 | Warrants | 80000 |  |  | $0.125 | 11/01/2023 |
|  | 12/01/2018 | Warrants | 80000 |  |  | $0.125 | 12/01/2023 |
|  | 12/15/2018 | Warrants | 250000 |  |  | $0.125 | 12/15/2021 |
|  | 10/30/2018 | Warrants | 200000 |  |  | $0.25 | 1/15/2023 |
|  | 3/15/2019 | Warrants | 188000 |  |  | $0.25 | 3/15/2024 |
|  | 4/09/2020 | Stock Options | 500000 |  |  | $0.30 | 4/09/2030 |
|  | 4/30/2020 | Warrants | 133333 |  |  | $0.30 | 4/30/2025 |
|  | 5/31/2020 | Warrants | 166667 |  |  | $0.30 | 5/31/2025 |
|  | 6/30/2020 | Warrants | 113333 |  |  | $0.30 | 6/30/2025 |
|  | 7/31/2020 | Warrants | 113333 |  |  | $0.30 | 7/31/2025 |
|  | 8/31/2020 | Warrants | 113333 |  |  | $0.30 | 8/31/2025 |
|  | 9/30/2020 | Warrants | 133333 |  |  | $0.30 | 9/30/2025 |
|  | 10/31/2020 | Warrants | 133333 |  |  | $0.30 | 10/31/2025 |
|  | 11/30/2020 | Warrants | 133333 |  |  | $0.30 | 11/30/2025 |
|  | 12/01/2020 | Stock Options | 500000 |  |  | $0.30 | 12/01/2030 |
|  | 12/31/2020 | Warrants | 133333 |  |  | $0.30 | 12/31/2025 |
|  | 1/31/2021 | Warrants | 133333 |  |  | $0.30 | 1/31/2026 |
|  | 2/28/2021 | Warrants | 133333 |  |  | $0.30 | 2/28/2026 |
|  | 3/31/2021 | Warrants | 133333 |  |  | $0.30 | 3/31/2026 |
|  | 4/30/2021 | Warrants | 133333 |  |  | $0.40 | 4/30/2026 |
|  | 5/31/2021 | Warrants | 133333 |  |  | $0.40 | 5/31/2026 |
|  | 6/30/2021 | Warrants | 133333 |  |  | $0.50 | 6/30/2026 |
|  | 7/31/2021 | Warrants | 133333 |  |  | $0.50 | 7/31/2026 |
| Gerald F. Hayden Jr. | 1/11/2018 | Warrants | 248000 |  |  | $0.25 | 1/11/2023 |
|  | 10/30/2018 | Warrants | 40000 |  |  | $0.25 | 10/30/23 |
|  | 6/1/2020 | Warrants | 40000 |  |  | $0.30 | 6/1/2025 |
|  | 6/30/2020 | Warrants | 53333 |  |  | $0.30 | 6/30/2025 |
|  | 12/1/2021 | Stock Options |  | 400000 | (2) | $0.50 | 12/1/2031 |
| Bryan Kleinlein | 10/01/2018 | Stock Options | 30000 |  |  | $0.125 | 10/01/2028 |
|  | 11/15/2021 | Stock Options | 200000 | 200000 | (2) | $0.50 | 11/15/2031 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 option awards for the purchase of our Class A common stock were granted under the Incentive Compensation Plan. The warrant awards
 for the purchase of our Class A common stock were granted outside of the Incentive Compensation Plan to named executive officers
 who elected to forgo a portion of their salary in the respective fiscal year in exchange for such warrants.

(2) The
 option awards vest in equal annual amounts on each anniversary of the grant date over two years.

**Executive Employment Arrangements**

*Employment Agreement with Paul Kacir*

 

In November 2021, we entered into an amended and restated employment agreement with Paul Kacir to supersede and replace in its entirety all consulting or employment agreements previously agreed by the parties related to his appointment as Chief Executive Officer commencing in May 2015. Pursuant to his employment agreement, Mr. Kacir is entitled to a base salary of $300,000 per year and may be eligible for an incentive cash bonus of up to 100% of his base salary. Mr. Kacir was also awarded an initial one-time grant of 500,000 two-year options to purchase Class "A" Common Shares of the Company and may be eligible for additional two-year option grants subject to the Company's incentive compensation plan. The term of Mr. Kacir's appointment continues until terminated by either party and either party may terminate the employment agreement at any time for any reason. However, if Mr. Kacir's appointment is terminated by the Company without cause, he shall be entitled to severance for a period of x months, where x equals the number of years Mr. Kacir had been employed by Company under the agreement. In November 2022, the Company announced a Company-wide corporate bonus of half of each team member's incentive cash bonus contingent on the completion of this offering. Accordingly in such event, Mr. Kacir would receive a bonus of up to 50% of his base salary for fiscal year 2022 but payable in 2023 subject to completion of this offering.

*Employment Agreement with Gerald F. Hayden*

 

In December 2021, we entered into an amended and restated employment agreement with Gerald F. Hayden confirming his appointment as Chief Risk Officer and Secretary commencing in December 2021. Pursuant to his employment agreement, Mr. Hayden is entitled to a base salary of $185,000 per year and may be eligible for an incentive cash bonus of up to 50% of his base salary. Mr. Hayden was also awarded an initial one-time grant of 400,000 two-year options to purchase Class "A" Common Shares of the Company and may be eligible for additional two-year option grants subject to the Company's incentive compensation plan. The term of Mr. Hayden's appointment continues until terminated by either party and either party may terminate the employment agreement at any time for any reason. However, if Mr. Hayden's appointment is terminated by the Company without cause, he shall be entitled to severance for a period of x months, where x equals the number of years Mr. Hayden had been employed by Company under the agreement. In November 2022, the Company announced a Company-wide corporate bonus of half of each team member's incentive cash bonus contingent on the completion of this offering. Accordingly in such event, Mr. Hayden would receive a bonus of up to 25% of his base salary for fiscal year 2022 but payable in 2023 subject to completion of this offering.

*Employment Agreement with Bryan Kleinlein*

 

In November 2021, we entered into an amended and restated employment agreement with Bryan Kleinlein confirming his appointment as Chief Financial Officer commencing in September 2021. Pursuant to his employment agreement, Mr. Kleinlein is entitled to a base salary of $185,000 per year and may be eligible for an incentive cash bonus of up to 50% of his base salary. Mr. Kleinlein was also awarded an initial one-time grant of 400,000 two-year options to purchase Class "A" Common Shares of the Company and may be eligible for additional two-year option grants subject to the Company's incentive compensation plan. The term of Mr. Kleinlein's appointment continues until terminated by either party and either party may terminate the employment agreement at any time for any reason. However, if Mr. Kleinlein's appointment is terminated by the Company without cause, he shall be entitled to severance for a period of x months, where x equals the number of years Mr. Kleinlein had been employed by Company under the agreement. In November 2022, the Company announced a Company-wide corporate bonus of half of each team member's incentive cash bonus contingent on the completion of this offering. Accordingly in such event, Mr. Kleinlein would receive a bonus of up to 25% of his base salary for fiscal year 2022 but payable in 2023 subject to completion of this offering.

**Incentive Compensation Plan**

We believe that our ability to grant equity-based awards is a valuable compensation tool that enables us to attract, retain and motivate our employees, consultants, and directors by aligning their financial interests with those of our stockholders. Accordingly, we adopted the Incentive Compensation Plan, which was amended and restated in March 2022, under which have previously made periodic grants of equity awards to our employees (including the named executive officers), consultants, and directors. The principal features of the Incentive Compensation Plan (as amended and restated) are summarized below. This summary is qualified in its entirety by reference to the actual text of the Incentive Compensation Plan, which is filed as an exhibit to the registration statement of which this prospectus is a part.

***Awards***. The Incentive Compensation Plan permits the grant of options, stock appreciation rights ("SARs"), restricted stock, restricted stock units and performance share awards (each, an "Award") to certain Eligible Persons (as defined below).

***Eligibility***. Our employees, non-employee directors, consultants and independent contractors ("Eligible Persons") designated by the compensation committee of our board of directors are eligible to receive grants of Awards under the Incentive Compensation Plan.

***Administration***. Except with respect to Awards granted to non-employee directors, the Incentive Compensation Plan will be administered by our compensation committee. With respect to Awards granted to non-employee directors, our board of directors serves as the "committee". Our compensation committee has authority and discretion to determine the Eligible Persons to whom Awards are granted ("Participants") and, subject to the provisions of the Incentive Compensation Plan, the terms of all Awards under the Incentive Compensation Plan. Pursuant to the charter of our compensation committee, the independent members of our board of directors will approve Awards to our Chief Executive Officer. Subject to the provisions of the Incentive Compensation Plan, our compensation committee has the authority to interpret the Incentive Compensation Plan and agreements under the Incentive Compensation Plan and to make all other determinations relating to the administration of the Incentive Compensation Plan.

***Shares Available***. The maximum number of shares of our Class A common stock that may be issued under the Incentive Compensation Plan is 9,436,086 shares, subject to automatic increases described below and adjustment in the event of any stock split or reverse stock split of our Class A common stock. The number of shares of Class A common stock delivered to our Company as payment for the exercise price of, or in satisfaction of withholding taxes arising from, options or other Awards granted under the Incentive Compensation Plan will again be made available for grant under the Incentive Compensation Plan. If any shares of restricted Class A common stock are forfeited, or if any Award terminates, expires or is settled without all or a portion of the Class A common stock covered by the Award being issued (including Class A common stock not issued to satisfy withholding taxes), such Class A common stock will again be made available for the grant of additional Awards. Substitute awards do not count against the number of shares of Class A common stock that may be issued under the Incentive Compensation Plan.

***Automatic Increases***. The aggregate number of shares of Class A common stock reserved for Awards under Section 5.1 of the Incentive Compensation Plan will automatically increase on January 1 of each year, for a period of not more than ten (10) years, commencing on January 1 of the year following 2022 and ending on (and including) January 1, 2032, in an amount so that the total number of shares of Class A common stock available for Awards under the Incentive Compensation Plan will be equal to 20% of the total number of shares of Class A common stock outstanding on December 31 of the preceding calendar year. Notwithstanding the foregoing, our board of directors may act prior to January 1 of a given year to provide that there will be no January 1 increase for such year or that the increase for such year will be a lesser number of shares of Class A common stock than provided in the Incentive Compensation Plan.

***Options***. The Incentive Compensation Plan authorizes the grant of nonqualified stock options and incentive stock options to Eligible Persons. Incentive stock options are stock options that satisfy the requirements of Section 422 of the U.S. Internal Revenue Code of 1986, as amended (the "Code"). Nonqualified stock options are stock options that do not satisfy the requirements of Section 422 of the Code. The exercise of an option permits the Participant to purchase Class A common stock from our Company at a specified exercise price per share. The maximum number of shares of Class A common stock issuable upon the exercise of incentive stock options is 9,436,086. Options granted under the Incentive Compensation Plan are exercisable upon such terms and conditions as our compensation committee may determine from time to time, subject to the terms of the Incentive Compensation Plan. The per share exercise price of all options granted under the Incentive Compensation Plan may not be less than the fair market value of a share of Class A common stock on the date of grant. The Incentive Compensation Plan provides that the term during which options may be exercised is determined by our compensation committee, except that no option may be exercised more than 10 years after its grant date.

***SARs***. The Incentive Compensation Plan authorizes our compensation committee to grant SARs to Eligible Persons. A SAR entitles the Participant upon exercise to receive without cash payment to our Company, Class A common stock, or a combination of cash and Class A common stock, having a value equal to the appreciation in the fair market value of the Class A common stock covered by the SAR from the grant date of the SAR (or, if the SAR relates to an option, the grant date of the related option). The period during which a SAR may be exercised is determined by our compensation committee, except that a SAR may not be exercised more than 10 years after its grant date.

***Restricted Stock Awards***. The Incentive Compensation Plan authorizes our compensation committee to grant restricted stock awards to Eligible Persons. Shares of Class A common stock covered by a restricted stock award are restricted against transfer and subject to forfeiture and any other terms and conditions as our compensation committee may from time to time determine, subject to the terms of the Incentive Compensation Plan. These terms and conditions may provide, in the discretion of our compensation committee, for the vesting of awards of restricted stock to be contingent upon continued employment during designated service periods and/or the achievement of one or more performance goals.

***Restricted Stock Units***. The Incentive Compensation Plan authorizes the grant of restricted stock unit awards to Eligible Persons. Restricted stock unit awards granted under the Incentive Compensation Plan are contingent awards of Class A common stock. Unlike in the case of awards of restricted stock, Class A common stock is not issued immediately upon the award of restricted stock units, but instead Class A common stock is issued upon satisfying such terms and conditions as our compensation committee may from time to time specify, subject to the terms of the Incentive Compensation Plan, which may include continued employment during designated service periods and/or the achievement of one or more performance goals. In lieu of issuing Class A common stock upon satisfaction of such terms and conditions, we may instead, at our election pay, the cash equivalent thereof.

***Performance Share Awards***. The Incentive Compensation Plan authorizes the grant of performance awards to Eligible Persons. Performance awards provide for payments of cash, or the issuance of Class A common stock, options, SARs, restricted stock units, or a combination thereof, contingent upon the attainment of one or more performance goals (described below) that our compensation committee may establish from time to time. The minimum period with respect to which performance goals are measured is one year (pro-rated in the case of a newly hired employee), except in the event of a change of control. For purposes of the limit on the number of shares of Class A common stock with respect to which an employee may be granted Awards during any calendar year, a performance award is deemed to cover the number of shares of Class A common stock equal to the maximum number of shares of Class A common stock that may be issued upon payment of the Award.

***Capital Adjustments***. Upon a change in the outstanding Class A common stock by reason of a stock dividend, stock split, or reverse stock split ("capital stock change"), unless otherwise determined by our compensation committee on or prior to the date of the capital stock change, each of the following shall, automatically and without need for compensation committee action, be proportionately adjusted:

● the number of shares of Class A common stock subject to outstanding Awards;

● the per share exercise price of options and the per share base price upon which payments under SARs are determined; and

● the aggregate number of shares of Class A common stock as to which Awards thereafter may be granted under the Incentive Compensation Plan.

If the outstanding Class A common stock changes as a result of a capital stock change, recapitalization, reclassification, extraordinary cash dividend, combination or exchange of shares, merger, consolidation or liquidation, our compensation committee shall, as it deems equitable in its discretion, substitute or adjust:

● the number and class of securities subject to outstanding Awards;

● the type of consideration to be received upon exercise or vesting of an Award;

● the exercise price of options and base price upon which payments under SARs are determined; and/or

● the aggregate number and class of securities for which Awards may be granted under the Incentive Compensation Plan.

Except as otherwise provided in an Award Agreement or other written document, such as an employment agreement or a change of control agreement, if a Change of Control (as defined in the Incentive Compensation Plan) occurs and Awards are not converted, assumed, or replaced by a successor, all outstanding Awards will become fully exercisable and all restrictions on outstanding Awards shall lapse. Upon, or in anticipation of, such an event, our compensation committee may cause every Award outstanding hereunder to terminate at a specific time in the future and shall give each Participant the right to exercise Awards during a period of time as the committee determines.

***Exercise of Options or SARs***. An option or SAR may be exercised by a Participant delivering to us a notice of exercise and, in the case of options, full payment for the Class A common stock with respect to which the option is exercised. To the extent authorized by our compensation committee or provided for in the award agreement, payment may be made (a) by delivery of unencumbered Class A common stock valued at fair market value on the date of exercise, (b) pursuant to the broker-assisted cashless exercise or (c) by us withholding Class A common stock that would otherwise be issued in connection with the exercise of the option ("net exercise").

Under the net exercise provisions, a Participant may surrender to us an option (or a portion of the option) that has become exercisable and receive a whole number of shares of Class A common stock valued as the difference of (a) the fair market value of the Class A common stock subject to the option that is being surrendered over (b) the exercise price, plus any amount for fractional shares of Class A common stock.

***Transferability***. Awards granted under the Incentive Compensation Plan may not be transferred, assigned, alienated or encumbered, except as otherwise provided in the agreement relating to an Award to (a) a Participant's spouse, children or grandchildren (including any adopted and step children or grandchildren), parents, grandparents or siblings, (b) to a trust for the benefit of one or more of the Participant or the persons referred to in clause (a), (c) to a partnership, limited liability company or corporation in which the Participant or the persons referred to in clause (a) are the only partners, members or stockholders or (d) for charitable donations.

***Termination and Amendment***. Our board of directors may amend or terminate the Incentive Compensation Plan at any time. However, our board of directors may not amend or terminate the Incentive Compensation Plan without the approval of (a) our stockholders (i) if the amendment relates to the re-pricing of options and SARs or (ii) if stockholder approval of the amendment is required by applicable law, rules or regulations, and (b) each affected Participant if the amendment or termination would adversely affect the Participant's rights or obligations under any Awards granted prior to the date of the amendment or termination.

***Modification of Awards; No Re-pricing***. Our compensation committee may modify the terms of outstanding Awards. However, except to reflect capital stock changes, neither options nor SARs may be (a) modified to reduce their exercise prices, (b) cancelled or surrendered in consideration for the grant of new options or SARs with a lower exercise price or (c) cancelled or surrendered in exchange for cash or another Award (other than in connection with a substitute award or a change of control).

***Substitution of Awards***. Awards may, in our compensation committee's discretion, be granted in substitution for stock options and other awards covering capital stock of another corporation which is merged into, consolidated with, or all or a substantial portion of the property or stock of which is acquired by, our Company or any subsidiary. Substitute Awards do not count against (a) the Class A common stock subject to issuance under the Incentive Compensation Plan or (b) the limit on Class A common stock that may be granted to an Eligible Person in a calendar year.

***Withholding***. We are generally required to withhold tax on the amount of income recognized by a Participant with respect to an Award. Withholding requirements may be satisfied, as provided in the agreement evidencing the Award, by (a) tender of a cash payment to us, (b) withholding of Class A common stock otherwise issuable pursuant to an Award, or (c) delivery to us by the Participant of unencumbered Class A common stock.

***Term of the Incentive Compensation Plan***. Unless sooner terminated or otherwise extended or renewed, by our board of directors, the Incentive Compensation Plan will terminate on the 10th anniversary of the effective date of the Incentive Compensation Plan. Once the Incentive Compensation Plan is terminated, no further Awards may be granted or awarded under the Incentive Compensation Plan. Termination of the Incentive Compensation Plan will not affect the validity of any Awards outstanding on the date of termination.

***Clawback***. Awards granted under the Incentive Compensation Plan are subject to cancellation, forfeiture and recovery in accordance with any compensation recovery policy that may be adopted by us after the date of the Incentive Compensation Plan, including any compensation recovery policy adopted pursuant to the requirements of Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

**Director Compensation**

Historically, we have not paid cash compensation to any of our non-employee directors for service on our board of directors, and no such amounts were paid to our non-employee directors during fiscal year 2022 or 2021. Our past practice has been to issue non-employee directors a one-time grant of 300,000 shares of our Series B common stock of our pre-conversion Arizona corporation as compensation for serving on our board of directors, plus reimbursement for reasonable expenses incurred in attending board meetings. We have also issued warrants to purchase shares of our Series A common stock of our pre-conversion Arizona corporation to our non-employee directors as compensation from time to time.

We expect our board of directors will adopt a non-employee director compensation policy, which we expect will become effective immediately prior to consummating this offering. Under this new non-employee director compensation policy, our non-employee directors are expected to be eligible to receive the following:

● Each non-employee director shall be entitled to receive $25,000 annually as a cash retainer for their board service, with additional annual cash retainers of: (i) $2,000 for each member of our compensation committee and nominating and corporate governance committee; (ii) $5,000 for the chair of our compensation committee and nominating and corporate governance committee; (iii) $8,000 for each member of our audit committee; and (iv) $16,000 for the chair of our audit committee. All cash retainers will be paid quarterly in arrears.

● Each non-employee director shall be entitled to receive a one-time grant 125,000 Restricted Stock Units in Class A common stock. These Restricted Stock Units will be awarded to each of our current non-employee directors in connection with this offering.

● Each non-employee director shall be entitled to reimbursement of ordinary, necessary and reasonable out-of-pocket travel expenses incurred in connection with attending in-person meetings of our board of directors or committees thereof. If our non-employee directors are required to attend greater than 4 in-person meetings or 12 telephonic/online meetings during any fiscal year, such non-employee directors shall be entitled to additional compensation in the amount of $500 for each additional telephonic meeting beyond the 12 telephonic meeting threshold, and $1,000 for each additional in-person meeting beyond the 4 in-person meeting threshold.

**Certain Relationships and Related Party Transactions**

The following are summaries of transactions since December 1, 2018 to which we have been a participant that involved amounts that exceeded or will exceed the lesser of (i) $120,000 or (ii) 1% of the average of our total assets at November 30, 2021 and 2020, and in which any of our directors, executive officers or any other "related person" as defined in Item 404(a) of Regulation S-K had or will have a direct or indirect material interest.

In June 2020 and October 2021, the Company advanced non-interest bearing loans in the aggregate principal amount of $139,000 and $87,000, respectively, to Mr. Kacir, the Company's Chief Executive Officer and Chairman of the Board of Directors. The funds were used by Mr. Kacir for the exercise of certain warrants previously issued by the Company to Mr. Kacir. The loans were forgiven in their entirety by the Company in February 2022 effective as of the date first made.

In June 2020, the Company advanced non-interest bearing loans in the aggregate principal amount of $7,010, to Mr. Hayden, a member of the Company's board of directors. The funds were used by Mr. Hayden for the exercise of certain warrants previously issued by the Company to Mr. Hayden. The loans were forgiven in their entirety by the Company in February 2022 effective as of the date first made.

**Indemnification Agreements**

We have entered, and intend to continue to enter, into separate indemnification agreements with each of our directors and executive officers to provide such directors and executive officers additional contractual assurances regarding the scope of the indemnification set forth in our certificate of incorporation and to provide additional procedural protections. As of the date of this prospectus, there is no pending litigation or proceeding involving any of our directors or executive officers for which indemnification is sought.

**Employment Arrangements**

We have entered into employment agreements, consulting agreements and other compensatory arrangements with our executive officers. For more information regarding these agreements, see "*Executive Compensation—Executive Employment Arrangements*."

**Debt Instruments**

Todd Baszucki, known by us to be the beneficial owner of more than 5% of our outstanding shares of Class A common stock and Class B common stock, purchased $1,000,000 Convertible Notes and $1,500,000 Bridge Notes. See "Management's Discussion and Analysis of Financial Condition and Results of Operations—Convertible Notes Offering and Other Prior Offerings" for more information.

SAKPE Holdings, LLC, known by us to be the beneficial owner of more than 5% of our outstanding shares of Class A common stock and Class B common stock, purchased $250,000 Bridge Notes. See "Management's Discussion and Analysis of Financial Condition and Results of Operations—Bridge Loans" for more information.

**Our Policy Regarding Related Party Transactions**

Our audit committee will oversee the approval of related party transactions (excluding compensatory matters falling within the purview of the compensation committee) with our executive officers, directors and significant stockholders to ensure that such transactions are entered into on an arm's length basis.

**Principal Stockholders**

The following table sets forth the beneficial ownership of our common stock as of December 21, 2022 and as adjusted to reflect the sale of the Class A common stock offered by us in this offering, for:

● each stockholder known by us to be the beneficial owner of more than 5% of our outstanding shares of Class A common stock and Class B common stock (by number or by voting power) ;

● each of our directors;

● each of our named executive officers; and

● all of our directors and executive officers as a group.

Applicable percentage ownership before the offering is based on shares of our Class A common stock and shares of our Class B common stock outstanding as of December 21, 2022. Applicable percentage ownership after the offering is based on shares of our Class A common stock and shares of our Class B common stock outstanding immediately after completing this offering, assuming no exercise by the underwriters of their option to purchase additional shares of our Class A common stock.

The number of shares beneficially owned by each stockholder is determined under rules issued by the SEC and includes voting or investment power with respect to securities. Under these rules, beneficial ownership includes any shares as to which the individual or entity has sole or shared voting power or investment power. In computing the number of shares beneficially owned by an individual or entity and the percentage ownership of that person, shares of common stock subject to options, or other rights, held by such person that are currently exercisable or will become exercisable within 60 days of the date of December 21, 2022, are considered outstanding, although these shares are not considered outstanding for purposes of computing the percentage ownership of any other person. Each of the stockholders listed has sole voting and investment power with respect to the shares beneficially owned by the stockholder unless noted otherwise, subject to community property laws where applicable.

Unless otherwise indicated, the address of all listed stockholders is c/o RVnGO, 2801 E. Camelback Road, Suite 200, Phoenix, Arizona 85016.

The following table does not reflect any potential purchases by our executive officers, directors or holders of more than 5% of our outstanding shares of Class A common stock and Class B common stock (by number or by voting power) in this offering or any equity awards granted to our executive officers or directors. If any shares of our Class A common stock are purchased by, or any equity awards are granted to, these persons or entities, the number of shares of our Class A common stock and the percentage of total voting power beneficially owned by them after this offering will differ from the amounts set forth in the following table.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Shares Beneficially Owned<br> Prior to this Offering** | **Shares Beneficially Owned<br> Prior to this Offering** | **Shares Beneficially Owned<br> Prior to this Offering** | **Shares Beneficially Owned<br> Prior to this Offering** | **Shares Beneficially Owned<br> Prior to this Offering** | **Shares Beneficially Owned<br> Following this Offering** | **Shares Beneficially Owned<br> Following this Offering** | **Shares Beneficially Owned<br> Following this Offering** | **Shares Beneficially Owned<br> Following this Offering** | **Shares Beneficially Owned<br> Following this Offering** |
| | **Class A** | **Class A** | **Class B** | **Class B** | | **Class A** | **Class A** | **Class B** | **Class B** | |
| <br>**Name of Beneficial Owner** | **Shares** | **%** | **Shares** | **%** | **% of Total Voting**<br>**Power<sup>(1)</sup>** | **Shares** | **%** | **Shares** | **%** | **% of Total Voting**<br>**Power<sup>(1)</sup>** |
| **5% Stockholders:** |  |  |  |  |  |  |  |  |  |  |
| Todd Baszucki (2) | 5630000 | 14.37% |  |  | 11.78% |  |  |  |  |  |
| Philomena Investments LLC<sup>(3)</sup> | 4320000 | 11.30% |  |  | 8.89% |  |  | —% |  |  |
| Rajesh Kumar (4) | 2456000 | 6.43% |  |  | 5.15% |  |  |  |  |  |
| SAKPE Holdings, LLC<sup>(5)</sup> | 2340000 | 6.12% |  |  | 4.95% |  |  |  |  |  |
| Martin Gillard | 164000 | 0.43% | 608000 | 6.79% | 1.64% |  |  |  |  |  |
| **Directors and Named Executive Officers:** |  |  |  |  |  |  |  |  |  |  |
| Paul Kacir<sup>(6)</sup> | 10425322 | 27.28% | 7500000 | 83.72% | 33.01% |  |  | 7500000 | 83.72% |  |
| Gerald F. Hayden.<sup>(7)</sup> | 1289333 | 3.37% | 600000 | 6.70% | 3.96% |  |  | 600000 | 6.60% |  |
| Bryan Kleinlein<sup>(8)</sup> | 230000 | 0.60% |  |  | 0.49% |  |  |  |  |  |
| Korey A. Boals<sup>(9)</sup> | 325000 | 0.85% |  |  | 0.68% |  |  |  |  |  |
| [ ]<sup>(10)</sup> |  | —% |  |  | —% |  |  |  |  |  |
| Frederick W. Weidinger<sup>(11)</sup> | 175000 | 0.46% |  |  | 0.37% |  |  |  |  |  |
| **Directors and executive officers as a group (6 persons)** | 12526655 | 32.89% | 8100000 | 90.42% | 38.77% |  |  | 8100000 | 90.42% |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Percentage
 of total voting power represents voting power with respect to all shares of our Class A and Class B common stock, any warrants
 and any vested options or restricted stock units issued under the Incentive Compensation Plan, as a single class. The holders
 of our Class B common stock are entitled, prior to the closing of this offering, to one vote for each share held and, following the
 closing of this offering, to 10 votes per share, and holders of our Class A common stock are entitled to one vote per share. See
 the section titled "*Description of Capital Stock—Common Stock*" for additional information about the voting
 rights of our Class A and Class B common stock.

(2) Includes 600,000 warrants to purchase Class A shares pursuant to the Bridge
 Loans.

(3) Philomena
 Investments LLC is controlled by Karlos Chowscano and includes 1,440,000 warrants to purchase Class A shares.

(4) Includes 520,000 warrants to purchase Class A common
 shares.

(5) SAKPE Holdings, LLC is controlled by Scott Connell,
 and includes 600,000 warrants to purchase Class A shares pursuant to the Bridge Loans.

(6) Includes 2,000,000 options issued under the Incentive
 Compensation Plan and 5,121,322 warrants to purchase Class A shares.

(7) Consists of securities held by GFH Consulting Inc. which
 is controlled by Gerald F. Hayden who serves as the president and includes 381,333 warrants to purchase Class A common stock
 and 200,000 options issued under the Incentive Compensation Plan.

(8) Includes 230,000 options issued under the Incentive
 Compensation Plan.

(9) Includes 125,000 Restricted Stock
 Units in Class A common stock to be granted effective
 on the date that the registration statement of which this prospectus forms a part becomes
 effective at the fair market value equal to the initial public offering price in this offering
 and 200,000 warrants to purchase Class A shares pursuant to the Bridge Loans.

(10) Includes 125,000 Restricted Stock
 Units in Class A common stock to be granted effective
 on the date that the registration statement of which this prospectus forms a part becomes
 effective at the fair market value equal to the initial public offering price in this offering.

(11) Includes
 125,000 Restricted Stock Units in Class A common stock to be granted effective on the date
 that the registration statement of which this prospectus forms a part becomes effective at
 the fair market value equal to the initial public offering price in this offering.

**Description of Capital Stock**

**General**

The following description of our capital stock and certain provisions of our certificate of incorporation and bylaws are summaries and are qualified by reference to the certificate of incorporation and the bylaws currently in effect. Copies of these documents have been filed with the SEC as exhibits to our registration statement, of which this prospectus forms a part. The description of our common stock and preferred stock reflect our capital structure following the completion of our statutory conversion from an Arizona corporation to a Delaware corporation on April 5, 2022, pursuant to which our then outstanding shares of Series A common stock were automatically converted into shares of Class A common stock, and our then outstanding shares of Series B common stock were automatically converted into shares of Class B common stock.

Our certificate of incorporation and bylaws provide for two classes of common stock: Class A common stock and Class B common stock; and one class of preferred stock.

Our authorized capital stock consists of 150,000,000 shares of Class A common stock, par value $0.0001 per share, 20,000,000 shares of Class B common stock, par value $0.0001 per share, and 100,000 shares of preferred stock, par value $0.0001 per share.

**Common Stock**

Prior to completing this offering there will be 38,222,430 shares of Class A common stock and 8,958,000 shares of Class B common stock outstanding. Upon completing this offering, there will be [ ] shares of Class A common stock and 8,958,000 shares of Class B common stock issued and outstanding, assuming no exercise of the underwriters' option to purchase additional shares of our Class A common stock, after giving effect to the sale of the shares of our Class A common stock offered hereby.

Paul Kacir and Gerald F. Hayden Jr., hold 7,500,000 and 600,000 shares of Class B common stock, respectively. The remaining 858,000 shares of Class B common stock outstanding are held by four minority stockholders.

***Voting***

 

Holders of our Class A common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and holders of our Class B common stock are entitled, prior to the closing of this offering, to one vote for each share held and, following the closing of this offering, to 10 votes for each share held on all matters submitted to a vote of stockholders. Our certificate of incorporation provides that an affirmative vote of the holders two-thirds of the outstanding shares of Class B common stock, voting as a separate class, in addition to any other vote required by Delaware Law or our certificate of incorporation, directly or indirectly, whether by amendment, or through merger, recapitalization, consolidation or otherwise, amend or repeal, or adopt any provision of our certificate of incorporation inconsistent with, or otherwise alter, any provision of our certificate of incorporation that modifies the voting, par value, rights, powers, preferences, special rights, privileges or restrictions of our Class B common stock. In addition, Delaware law could require either holders of our Class A common stock or our Class B common stock to vote separately as a single class in the following circumstances:

● if we were to seek to amend our certificate of incorporation to increase or decrease the aggregate number of authorized shares or par value of a class of stock, then that class would be required to vote separately to approve the proposed amendment; and

● if we were to seek to amend our certificate of incorporation in a manner that alters or changes the powers, preferences or special rights of a class of stock in a manner that affected its holders adversely, then that class would be required to vote separately to approve the proposed amendment.

 ****

The directors, officers and principal stockholders represent [____]% of the total stockholder votes before the consummation of this offering. Upon consummation of this offering, the directors, officers and principal stockholders will represent [___]% of the total stockholder votes, and [ ]% after giving effect to the conversion of the Convertible Notes into Class A common shares and the issuance of Class A common stock in connection with this offering.

So long as the holders of our Class B common stock maintain ownership of more than [ ]% of the outstanding shares of our Class A common stock and [ ]% of the outstanding shares of our Class B common stock of the Company, they will continue to control the outcome of matters submitted to stockholders for approval.

 ****

 **

***Dividends***

 **

The holders of our Class A common stock shall be entitled to receive dividends if, as and when declared by the board of directors out of the assets of the Company properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. Subject to the rights of the holders of any other class of shares of the Company entitled to receive dividends in priority to or concurrently with the holders of the Class A common stock, the board of directors may in its sole discretion declare dividends on the Class A common stock to the exclusion of any other class of shares of the Company.

The holders of the Class B common stock do not have any right to receive any dividends or distributions declared by the board of directors, provided that certain dividends payable in additional shares of Class B common stock may be declared in certain situations in order to preserve the relative proportionality of the Class A common stock as compared to the Class B common stock.

***Conversion***

 ****

Each share of Class B common stock is convertible at any time on or after the one-year anniversary of this offering, at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain permitted transfers further described in our certificate of incorporation, including transfers to affiliates of the transferring holder.

All outstanding shares of our Class B common stock will automatically convert into one share of Class A common stock upon the earliest to occur of the following events: (1) a date or time specified by the vote or written consent of the holders of at least a majority of the outstanding shares of Class B common stock, (2) any liquidation, dissolution, or winding up of the Company that is approved by the board of directors, and (3) the five-year anniversary of the date of the closing of this offering.

***Liquidation***

 ****

In the event of the liquidation, dissolution or winding up of the Company or other distribution of assets of the Company among its stockholders for the purpose of winding up its affairs, the holders of the Class A common stock shall, subject to the rights of the holders of any other class of shares of the Company entitled to receive assets of the Company upon such a distribution in priority to or concurrently with the holders of the Class A common stock, be entitled to participate in the distribution. Such distribution shall be made in equal amounts per share on all the Class A common stock at the time outstanding without preference or distinction.

In the event of the liquidation, dissolution or winding up of the Company or other distribution of assets of the Company among its stockholders for the purpose of winding up its affairs, each share of Class B common stock shall automatically be converted into one share of Class A common stock.

***No Preemptive or Similar Rights***

Our Class A common stock and Class B common stock is not entitled to preemptive rights and is not subject to redemption or sinking fund provisions. The rights, preferences and privileges of the holders of our common stock will be subject to and may be adversely affected by the rights of the holders of shares of any series of our preferred stock that we may designate in the future.

***Fully Paid and Non-Assessable***

 ****

All outstanding shares of common stock are, and the common stock to be outstanding upon completion of this offering will be, duly authorized, validly issued, fully paid and non-assessable.

***Additional Shares Issuable After this Offering***

 ****

Pursuant to our Incentive Compensation Plan, the maximum number of shares of our Class A common stock that may be issued under such plan will be 1,909,376 shares, subject to adjustment in the event of any stock split or reverse stock split of our Class A common stock.

***Other Matters***

 ****

Other than as set forth above, there are no preemptive, conversion or redemption privileges, or sinking fund provisions with respect to our common stock, and no other options or warrants we have issued to acquire shares of our common stock.

**Preferred Stock**

Following the completion of this offering, and pursuant to the provisions of our certificate of incorporation, our board of directors will be authorized, subject to limitations prescribed by Delaware law, to issue preferred stock in one or more series, to establish from time to time the number of shares to be included in each series, and to fix the designation, powers, preferences and rights of the shares of each series and any of its qualifications, limitations or restrictions, in each case without further vote or action by our stockholders. Our board of directors can also increase or decrease the number of shares of any series of preferred stock, but not below the number of shares of that series then outstanding, without any further vote or action by our stockholders. Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control of the Company and might adversely affect the market price of our common stock and the voting and other rights of the holders of our common stock. We have no current plans to issue any shares of preferred stock.

**Anti-Takeover Provisions**

Certain provisions of Delaware law, as well as our certificate of incorporation and our bylaws, may have the effect of delaying, deferring or discouraging another person from acquiring control of us. These provisions include the items described below. They are also designed, in part, to encourage persons seeking to acquire control of us to negotiate first with our board of directors. We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging a proposal to acquire us because negotiation of these proposals could result in an improvement of their terms.

In addition, the Company's disparate voting rights may have anti-takeover effects preventing a change in control transaction that certain stockholders might consider in their best interest. See "*Certificate of Incorporation and Bylaw Provisions — Dual Class Stock*" for additional information.

***Delaware Law***

 ****

When we have a class of voting stock that is either listed on a national securities exchange or held of record by more than 2,000 stockholders, we will become subject to the provisions of Section 203 of the Delaware General Corporation Law. In general, Section 203 prohibits a public Delaware corporation from engaging in a "business combination" with an "interested stockholder" for a period of 3 years after the date of the transaction in which the person became an interested stockholder, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the business combination or transaction, which resulted in the stockholder becoming an interested stockholder, was approved by the board of directors prior to the time that the stockholder became an interested stockholder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● upon consummation of the transaction, which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding shares owned by directors who are also officers of the corporation and shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● at or subsequent to the time the stockholder became an interested stockholder, the business combination was approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the outstanding voting stock, which is not owned by the interested stockholder.

In general, Section 203 defines a "business combination" to include mergers, asset sales and other transactions with, caused by or resulting in financial benefit to an interested stockholder and an "interested stockholder" as a person who, together with affiliates and associates, owns, or within 3 years did own, 15% or more of the corporation's outstanding voting stock.

A Delaware corporation may "opt out" of these provisions with an express provision in its original certificate of incorporation or an express provision in its certificate of incorporation or bylaws resulting from an amendment approved by at least a majority of the outstanding voting shares. We have not opted out of these provisions. As a result, mergers or other takeover or change in control attempts of us may be discouraged or prevented. These provisions may have the effect of delaying, deferring or preventing changes in control of our Company.

***Certificate of Incorporation and Bylaw Provisions***

Our certificate of incorporation and our bylaws include a number of provisions that could deter hostile takeovers or delay or prevent changes in control of our board of directors or management team, including the following:

<u>Dual Class Stock</u>

As described above in *"—Common Stock—Voting*," our certificate of incorporation provide for a dual class common stock structure, which will provide, following the closing of this offering, the holders of Class B common stock with significant influence over matters requiring stockholder approval, including the election of directors and significant corporate transactions, such as a merger or other sale of our Company or its assets.

Each share of Class A common stock is entitled to one vote. Each share of Class B common stock is entitled, prior to the closing of this offering, to one vote for each share held and, following the closing of this offering, to 10 votes for each share held on all matters submitted to a vote of stockholders. Because of our dual class structure, our founders and executives will continue to be able to control all matters submitted to our stockholders for approval even if they come to own significantly less than 50% of the shares of our outstanding Class A Common Stock. This concentrated control could discourage others from initiating any potential merger, takeover or other change of control transaction that other stockholders may view as beneficial. These disparate voting rights may have anti-takeover effects preventing a change in control transaction that certain stockholders might consider in their best interest.

<u>Board of Directors Vacancies</u>

 

Our bylaws authorize our board of directors to fill vacant directorships, including newly created seats. Stockholders may elect a director or directors to fill any vacancy not filled by the directors or to fill any vacancy resulting from a removal of a director by the stockholders. The number of directors constituting our board of directors is permitted to be set only by a resolution adopted by a majority vote of our entire board of directors. These provisions make it difficult for a stockholder to increase the size of our board of directors and then gain control of our board of directors by filling the resulting vacancies with its own nominees. This makes it more difficult to change the composition of our board of directors and promotes continuity of management.

<u>Stockholder Action; Special Meeting of Stockholders</u>

 

Our bylaws provide that special meetings of our stockholders may be called only by Board of Directors, the Chairman of the Board of Directors, the Chief Executive Officer, or the President. These provisions might delay the ability of our stockholders to force consideration of a proposal or to take any action, including the removal of directors.

<u>Removal of Directors</u>

The Delaware General Corporation Law provides that any director or the entire board of directors may generally be removed, with or without cause, by the holders of a majority of the shares then entitled to vote at an election of directors,

 

<u>Cumulative Voting</u>

The Delaware General Corporation Law provides that stockholders are not entitled to the right to cumulate votes in the election of directors unless the certificate of incorporation provides otherwise. Our certificate of incorporation and bylaws do not expressly provide for cumulative voting.

<u>Amendment of Charter and Bylaws Provisions</u>

 

Amendments to our certificate of incorporation require the approval of a majority of the outstanding voting power of our common stock. Our certificate of incorporation provides that approval of stockholders holding a majority of our outstanding voting power entitled to vote generally in the election of directors voting as a single class is required for stockholders to amend or adopt any provision of our bylaws.

<u>Exclusive Forum</u>

 

**Transfer Agent and Registrar**

The transfer agent and registrar for our Class A common stock is Pacific Stock Transfer Co. The transfer agent's address is 6725 Via Austi Pkwy #300, Las Vegas, NV 89119 and its telephone number is (800) 785-7782.

**Listing**

We intend to apply to list our Class A common stock on The Nasdaq Capital Market under the symbol "RVGO."

**Shares Eligible For Future Sale**

Immediately prior to this offering, there was no public market for our Class A common stock, and there can be no assurance that a significant public market for our Class A common stock will develop or be sustained after this offering. Future sales of substantial amounts of our Class A common stock in the public market (including shares issued on the exercise of options, warrants or convertible securities, if any) or the perception that such sales may occur or the availability of such shares for sale in the public market, after this offering could adversely affect the prevailing market price of our Class A common stock.

Based on our shares issued and outstanding as of the date of this prospectus, upon completing this offering, a total of shares of Class A common stock will be issued and outstanding, assuming no exercise of the underwriters' option to purchase additional shares of our Class A common stock from us. Of these shares, all of the Class A common stock sold in this offering will be freely tradable in the public market without restriction or further registration under the Securities Act, unless these shares are held by our "affiliates," as that term is defined in Rule 144 under the Securities Act.

The remaining shares of Class A common stock will be "restricted securities," as that term is defined in Rule 144 under the Securities Act. These restricted securities are eligible for public sale only if they are registered under the Securities Act or if they qualify for an exemption from registration under Rule 144 under the Securities Act, which is summarized below. Restricted securities may also be sold outside of the U.S. to non-U.S. persons in accordance with Rule 904 of Regulation S.

As a result of the lock-up and market standoff agreements described below and subject to the provisions of Rule 144, shares of our Class A common stock will be available for sale in the public market as follows:

● beginning on the date of this prospectus, all shares of our Class A common stock sold in this offering will be immediately available for sale in the public market, unless these shares are held by our affiliates; and

● beginning twelve months after the date of this prospectus, additional shares of our Class A common stock may become eligible for sale in the public market upon the satisfaction of certain conditions as set forth in the section titled *"—Lock-Up Arrangements*," all of which would be held by affiliates and subject to the volume and other restrictions of Rule 144, as described below.

**Rule 144**

In general, under Rule 144, as currently in effect, once we have been subject to public company reporting requirements of Section 13 or Section 15(d) of the Exchange Act for at least 90 days, an eligible stockholder is entitled to sell such shares without complying with the manner of sale, volume limitation or notice provisions of Rule 144, subject to compliance with the public information requirements of Rule 144. To be an eligible stockholder under Rule 144, such stockholder must not be deemed to have been one of our affiliates for purposes of the Securities Act at any time during the 90 days preceding a sale and must have beneficially owned the shares proposed to be sold for at least six months, including the holding period of any prior owner other than our affiliates. If such a person has beneficially owned the shares proposed to be sold for at least one year, including the holding period of any prior owner other than our affiliates, then such person is entitled to sell such shares without complying with any of the requirements of Rule 144, subject to compliance with the public information requirements of Rule 144 and the expiration of the lock-up agreements described below.

In general, under Rule 144, as currently in effect, our affiliates, or persons selling shares on behalf of our affiliates, are entitled to sell shares on expiration of the lock-up agreements described below. Beginning 90 days after the date of this prospectus, within any three-month period, such stockholders may sell a number of shares that does not exceed the greater of:

● 1% of the number of shares of our Class A common stock then outstanding, which will equal approximately shares immediately after this offering, assuming no exercise of the underwriters' option to purchase additional shares of our Class A common stock from us; or

● the average weekly trading volume of our Class A common stock on The Nasdaq Capital Market during the 4 calendar weeks preceding the filing of a notice on Form 144 with respect to such sale.

Sales under Rule 144 by our affiliates or persons selling shares on behalf of our affiliates are also subject to certain manner of sale provisions and notice requirements and to the availability of current public information about us.

**Equity Incentive Plan**

We intend to file one or more registration statements on Form S-8 under the Securities Act with the SEC to register the offer and sale of shares of our Class A common stock that are issuable under the Incentive Compensation Plan. Any such registration statements will become effective immediately on filing. Shares covered by these registration statements will then be eligible for sale in the public markets, subject to vesting restrictions, any applicable lock-up agreements described below, and Rule 144 limitations applicable to affiliates.

**Lock-Up Arrangements**

Our executive officers, directors and certain of our significant stockholders will enter into separate agreements whereby, without the prior written consent of Boustead Securities, LLC, they will not, subject to limited exceptions, directly or indirectly sell or dispose of any shares of our common stock or any securities convertible into or exchangeable or exercisable for shares of our common stock for a period of twelve months after the date of this prospectus; provided however that after the initial six months following the date of this offering, stockholders subject to the lock-up will have limited ability to resell shares subject to certain limitations. See "*Underwriting—No Sales of Common Stock*" for additional information.

**Selling Stockholder Resale Prospectus**

As described in the Explanatory Note to the registration statement of which this prospectus forms a part, the registration statement also contains the Resale Prospectus to be used in connection with the potential resale by certain selling stockholders of our Class A common stock. These shares of Class A common stock have been registered to permit public resale of such shares, and the selling stockholders may offer the shares for resale from time to time pursuant to the Resale Prospectus. The selling stockholders may also sell, transfer or otherwise dispose of all or a portion of their shares in transactions exempt from the registration requirements of the Securities Act or pursuant to another effective registration statement covering those shares. After our common stock is listed or quoted on an established public trading market, any sales will occur at prevailing market prices or in privately negotiated prices.

**CERTAIN MATERIAL UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS**

**FOR NON-U.S. HOLDERS**

The following is a summary of certain U.S. federal income tax consequences to non-U.S. holders (as defined below), relevant to the purchase, ownership, and disposition of our Class A common stock issued pursuant to this offering, but does not purport to be a complete analysis of all the potential tax considerations relating thereto. This summary is based upon the provisions of the Code, Treasury regulations promulgated or proposed thereunder, judicial decisions, and published rulings and administrative pronouncements of the Internal Revenue Service ("IRS"), in each case in effect as of the date hereof. These authorities may be changed, possibly with retroactive effect, so as to result in U.S. federal income tax consequences different from those set forth below. We have not sought, and will not seek, either an opinion from legal counsel or any rulings from the IRS regarding the matters discussed below, and there can be no assurance that the IRS will not take a position contrary to those discussed below or that any position taken by the IRS will not be sustained.

This summary is limited to non-U.S. holders who purchase our Class A common stock pursuant to this offering and who hold shares of our Class A common stock as capital assets within the meaning of Code Section 1221 (generally, property held for investment purposes). This summary does not address the tax consequences arising under the laws of any non-U.S., state, or local jurisdiction or under U.S. federal gift and estate tax laws or the effect, if any, of the alternative minimum tax, base erosion and anti-abuse tax, the Medicare contribution tax imposed on net investment income, or the application, if any, of Code Section 451 with respect to conforming the timing of income accruals to financial statements. In addition, this discussion does not address tax considerations applicable to a non-U.S. holder's particular circumstances or to a non-U.S. holder that may be subject to special tax rules, including, without limitation:

● banks, insurance companies, or other financial institutions;

● partnerships or other entities or arrangements classified as partnerships for U.S. federal income tax purposes and investors therein;

● tax-exempt organizations or governmental organizations;

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

● brokers or dealers in securities or currencies;

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

● U.S. expatriates and former citizens or former long-term residents of the U.S.;

● persons who hold our Class A common stock as a position in a hedging transaction, "straddle," "conversion transaction," or other risk reduction transaction;

● persons who hold or receive our Class A common stock pursuant to the exercise of any employee stock option or otherwise as compensation;

● tax-qualified retirement plans;

● qualified foreign pension funds as defined in Section 897(l)(2) of the Code and entities all of the interest of which are held by qualified foreign pension funds; and

● persons deemed to sell our Class A common stock under the constructive sale provisions of the Code.

In addition, if a partnership (including an entity or arrangement classified as a partnership for U.S. federal income tax purposes) holds our Class A common stock, the tax treatment of a partner generally will depend upon the status of the partner and upon the activities of the partner and the partnership. Accordingly, partnerships that hold our Class A common stock, and partners in such partnerships, should consult their tax advisors with respect to the U.S. federal income tax treatment in light of their particular circumstances.

YOU SHOULD CONSULT YOUR TAX ADVISOR WITH RESPECT TO THE APPLICATION OF THE U.S. FEDERAL INCOME TAX LAWS TO YOUR PARTICULAR SITUATION, AS WELL AS ANY TAX CONSEQUENCES OF THE PURCHASE, OWNERSHIP, AND DISPOSITION OF OUR CLASS A COMMON STOCK ARISING UNDER THE U.S. FEDERAL ESTATE OR GIFT TAX RULES, U.S. ALTERNATIVE MINIMUM TAX RULES, OR UNDER THE LAWS OF ANY NON-U.S., STATE, OR LOCAL TAXING JURISDICTION OR UNDER ANY APPLICABLE INCOME TAX TREATY.

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

For purposes of this discussion, you are a "non-U.S. holder" if you are a beneficial owner of our Class A common stock and you are neither a "U.S. person" nor an entity or arrangement classified as a partnership for U.S. federal income tax purposes. A U.S. person is any person that, for U.S. federal income tax purposes, is or is treated as:

● an individual who is a citizen or resident of the United States;

● a corporation or other entity taxable as a corporation created or organized (or deemed to be created or organized) in the United States or under the laws of the United States, any state thereof, or the District of Columbia;

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

● a trust (x) whose administration is subject to the primary supervision of a U.S. court and which has one or more "United States person" (as defined in the Code) who has the authority to control all substantial decisions of the trust or (y) which has made a valid election under applicable Treasury regulations to be treated as a United States person for U.S. federal income tax purposes.

**Distributions**

We do not expect to make any distributions for the foreseeable future. However, if we do make distributions on our Class A common stock, other than certain pro rata distributions of Class A common stock, those distributions will constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles.

Any dividend paid to you generally will be subject to U.S. federal withholding tax at a rate of 30% of the gross amount of the dividend, or such lower rate as may be specified by an applicable income tax treaty, except to the extent that the dividends are "effectively connected" dividends, as described below. In order to claim treaty benefits to which you are entitled, you must timely provide us with a properly completed IRS Form W-8BEN or W-8BEN-E (or other applicable W-8 or successor form) certifying under penalty of perjury that you (i) are not a "United States person" as defined under the Code, and (ii) qualify for the reduced treaty rate. If you do not timely furnish the required documentation, but are otherwise eligible for a reduced rate of U.S. federal withholding tax pursuant to an income tax treaty, then you may obtain a refund of any excess amounts withheld by timely filing an appropriate claim for refund with the IRS. If you hold our Class A common stock through a financial institution or other agent acting on your behalf, you will be required to provide appropriate documentation as to your non-U.S. status to such institution or agent, who then will be required to provide a similar certification to us or our paying agent, either directly or through other intermediaries. This certification must be provided to us (or, if applicable, our paying agent) prior to the payment to you of any dividends and may be required to be updated periodically.

To the extent provided for in the applicable Treasury regulations, we may withhold up to 30% of the gross amount of an entire distribution, even if the amount of the entire distribution is greater than the amount of such distribution constituting a dividend. If tax is withheld on the amount of a distribution in excess of the amount constituting a dividend, then a refund of any such excess amounts may be obtained by you by timely filing a claim for refund with the IRS.

Dividends received by you that are effectively connected with your conduct of a trade or business within the United States (or, if an applicable income tax treaty applies, attributable to a permanent establishment or fixed base maintained by you in the United States) are exempt from the U.S. federal withholding tax described above. In order to claim this exemption, you must provide us (or, if applicable, our paying agent) with an IRS Form W-8ECI (or a successor form) properly certifying that the dividends are effectively connected with your conduct of a trade or business within the United States. Such "effectively connected dividends," although not subject to U.S. federal withholding tax, are generally taxed at the same U.S. federal income tax rates applicable to U.S. persons, net of certain deductions and credits (except as provided by an applicable income tax treaty). In addition, if you are a corporate non-U.S. holder, you may also be subject to a branch profits tax at a rate of 30% (or such lower rate as may be specified by an applicable income tax treaty) on your effectively connected earnings and profits for the taxable year that are attributable to such dividends, as adjusted for certain items.

To the extent distributions exceed both our current and our accumulated earnings and profits, such distributions will first constitute a tax-free return of capital and will reduce your adjusted tax basis in our Class A common stock (determined on a share-by-share basis), but not below zero, and, thereafter, any excess will be treated as capital gain from the sale of our Class A common stock, subject to the tax treatment described below in *"—Gain on Sale or Other Taxable Disposition of Class A Common Stock*."

**Gain on Sale or Other Taxable Disposition of Class A Common Stock**

Subject to the discussions below regarding FATCA (as defined below) and backup withholding, you generally will not be required to pay U.S. federal income tax on any gain realized upon the sale or other taxable disposition of our Class A common stock unless:

● the gain is effectively connected with your conduct of a U.S. trade or business (or, if an applicable income tax treaty applies, the gain is attributable to a permanent establishment or fixed base maintained by you in the United States);

● you are an individual who is present in the United States for a period or periods aggregating 183 days or more during the taxable year in which the sale or disposition occurs, and certain other conditions are met; or

● our Class A common stock constitutes a U.S. real property interest by reason of our status as a "United States real property holding corporation," or a "USRPHC," for U.S. federal income tax purposes, at any time during the shorter of the five-year period ending on the date of the sale or other taxable disposition of, or your holding period for, our Class A common stock, and certain other conditions are met.

If you are a non-U.S. holder described in the first bullet above, you generally will be subject to U.S. federal income tax on the gain derived from the sale or other taxable disposition (net of certain deductions or credits) under the U.S. federal income tax rates generally applicable to U.S. persons (except as provided by an applicable income tax treaty), and corporate non-U.S. holders described in the first bullet above also may be subject to branch profits tax at a 30% rate or such lower rate as may be specified by an applicable income tax treaty.

If you are an individual non-U.S. holder described in the second bullet above, you will be subject to U.S. federal income tax at a rate of 30% (or such lower rate as may be specified by an applicable income tax treaty) on the gain derived from the sale or other taxable disposition, which may be offset by U.S. source capital losses for that taxable year (even though you are not considered a resident of the United States), provided that you have timely filed U.S. federal income tax returns with respect to such losses.

With respect to the third bullet above, in general, we would be a USRPHC if our "U.S. real property interests" comprised at least 50% of the sum of the fair market value of our worldwide real property interests plus our other assets used or held in our trade or business. We believe that we are not currently and (based upon our projections as to our business) will not become a USRPHC. However, because the determination of whether we are a USRPHC depends on the fair market value of our U.S. real property interests relative to the fair market value of our non-U.S. real property interests and our other business assets, there can be no assurance that we will not become a USRPHC in the future. Even if we are, or were to become, a USRPHC, gain arising from the sale or other taxable disposition by a non-U.S. holder of our Class A common stock would not be subject to U.S. federal income tax if our Class A common stock is "regularly traded" (within the meaning of applicable Treasury regulations) on an established securities market, and such non-U.S. holder has owned, actually and constructively, five percent or less of our Class A common stock at all times during the applicable period described above.

**Backup Withholding and Information Reporting**

Payments of dividends on our Class A common stock will not be subject to backup withholding provided you either certify under penalty of perjury your non-U.S. status, such as by furnishing a valid IRS Form W-8BEN, W-8BEN-E, or W-8ECI (or a successor form), or otherwise establish an exemption. However, information returns are required to be filed with the IRS in connection with any dividends on our Class A common stock paid to you, regardless of whether any tax is subject to backup withholding.

Assuming we are not a USRPHC (discussed above), proceeds from the sale or other taxable disposition (or deemed disposition) of our Class A common stock within the United States or conducted through certain U.S.-related brokers generally will not be subject to backup withholding or information reporting, if the applicable withholding agent receives the certification described above, or you otherwise establish an exemption. Proceeds from a disposition (or deemed disposition) of our Class A common stock conducted through a non-U.S. office of a non-U.S. broker generally will not be subject to backup withholding or information reporting.

Copies of information returns that are filed with the IRS may also be made available under the provisions of an applicable treaty or agreement to tax authorities in your country of residence, establishment, or organization.

Backup withholding is not an additional tax. Any amounts withheld under the backup withholding rules may be allowed as a refund or credit against a non-U.S. holder's U.S. federal income tax liability, provided that the required information is timely furnished by such non-U.S. holder to the IRS.

**Additional Withholding Tax on Payments Made Respecting Foreign Accounts**

The Foreign Account Tax Compliance Act and the rules and regulations promulgated thereunder (collectively, "FATCA") impose withholding tax at a rate of 30% on dividends on our Class A common stock paid to a "foreign financial institution" (as specially defined under these rules), unless such institution enters into an agreement with the U.S. government to withhold on certain payments and to collect and provide to the U.S. tax authorities substantial information regarding the U.S. account holders of such institution (which includes certain equity and debt holders of such institution, as well as certain account holders that are foreign entities with U.S. owners) or otherwise establishes an exemption. FATCA also generally imposes a U.S. federal withholding tax of 30% on dividends on our Class A common stock paid to a "non-financial foreign entity" (as specially defined under these rules) unless such entity provides the withholding agent with a certification identifying certain substantial direct and indirect U.S. owners of the entity, certifies that there are none, or otherwise establishes an exemption. Additionally, although FATCA withholding may also apply to gross proceeds of a disposition of the Class A common stock, recently proposed regulations, which taxpayers are permitted to rely on until final regulations are issued, eliminate withholding on such gross proceeds. The withholding provisions under FATCA generally apply to dividends on our Class A common stock. Under certain circumstances, a non-U.S. holder might be eligible for refunds or credits of such taxes. An intergovernmental agreement between the United States and an applicable foreign country may modify the requirements described in this paragraph. Non-U.S. holders should consult their tax advisors regarding the possible implications of this legislation on their investment in our Class A common stock. If a dividend is subject to both (i) withholding pursuant to FATCA and (ii) the withholding tax discussed above under "—Distributions," then the amount withheld pursuant to FATCA may be credited against, and therefore reduce, such other withholding tax.

THE PRECEDING DISCUSSION OF U.S. FEDERAL TAX CONSEQUENCES IS FOR GENERAL INFORMATION ONLY. THIS DISCUSSION IS NOT TAX ADVICE. EACH PROSPECTIVE INVESTOR SHOULD CONSULT ITS OWN TAX ADVISOR REGARDING THE PARTICULAR U.S. FEDERAL, STATE, AND LOCAL AND NON-U.S. TAX CONSEQUENCES OF PURCHASING, HOLDING AND DISPOSING OF OUR CLASS A COMMON STOCK, INCLUDING THE CONSEQUENCES OF ANY PROPOSED CHANGE IN APPLICABLE LAWS.

**Underwriting**

In connection with this offering, we will enter into an underwriting agreement with Boustead Securities, LLC to serve as lead book-running manager of the offering and as representatives of the underwriters named below. Subject to the terms and conditions of the underwriting agreement, each underwriter will severally agree to purchase the number of shares of common stock set forth opposite its name below, at the public offering price, less the underwriting discount set forth on the cover page of this prospectus

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| | |
|:---|:---|
| **Underwriter** | **Number of Shares**<br> **Common Stock** |
| Boustead Securities, LLC |  |
| Total: |  |

---

Subject to the terms and conditions set forth in the underwriting agreement, the underwriters have agreed to purchase all of the shares offered by this prospectus (other than those covered by the option described below), if any are purchased.

The underwriters are offering the shares of common stock subject to various conditions and may reject all or part of any order. The representative of the underwriters has advised us that the underwriters propose initially to offer the shares of common stock to the public at the public offering price set forth on the cover page of this prospectus and to dealers at a price less a concession not in excess of $______ per share of common stock to brokers and dealers. After the shares of common stock are released for sale to the public, the representative may change the offering price, the concession, and other selling terms at various times.

**Discounts and Commissions; Expenses**

The following table provides information regarding the amount of the discounts and commissions to be paid to the underwriters by us, before expenses:

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| | | |
|:---|:---|:---|
|  | **Per Share of<br> Common Stock** | **Total** |
| Public offering price | $| $|
| Underwriting discounts and commission<sup>(1)</sup> | $| $|
| Non-accountable expense allowance (1.0%) | $| $|
| Proceeds, before expenses, to us | $| $|

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<sup>(1)</sup> Does not include (i) warrants to purchase a number of shares of common stock equal to 7% of the number of shares sold in the offering, or (ii) amounts representing reimbursement of certain out-of-pocket expenses as described below.

We estimate that our total expenses of the offering, excluding the estimated underwriting discounts and commissions, will be approximately $____,000.

We have also agreed to issue to the representative of the underwriters a warrant to purchase a number of shares of common stock equal to an aggregate of 7% of the aggregate number of the shares sold in this offering. The warrant will be exercisable on a cashless basis at an exercise price equal to 100% of the offering price of the shares sold in this offering. The warrants are exercisable at any time, and from time to time, commencing from the closing of the offering and expiring five (5) years thereafter. The Underwriter's warrants also provide for customary anti-dilution provisions and immediate piggyback registration rights with respect to the shares underlying the warrants. The warrants are not redeemable by us. The warrants and the shares of common stock issuable upon exercise of the warrants have been included on the registration statement of which this prospectus forms a part. Pursuant to applicable FINRA rules, and in particular Rule 5110, the warrants (and underlying shares) issued to the underwriters may not be sold, transferred, assigned, pledged, or hypothecated, or the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective disposition of the securities by any person for a period of 180 days after the effective date of the registration statement related to this offering; provided, however, that the warrants (and underlying shares) may be transferred to the underwriters' officers, partners, registered persons or affiliates as long as the warrants (and underlying shares) remain subject to the lockup.

We have agreed to pay the Underwriter a non-accountable expense allowance equal to 1.0% of the gross proceeds received at the closing of this offering.

We have agreed to reimburse the Underwriter for reasonable out-of-pocket expenses incurred by the Underwriter in connection with this offering, regardless of whether the offering is consummated, up to $233,000. The Underwriter out-of-pocket expenses include but are not limited to: (i) road show and travel expenses, (ii) reasonable fees of Underwriter's legal counsel, (iii) the cost of background check on our officers, directors and (iv) major stockholders and due diligence expenses. Any out-of-pocket expenses above $5,000 are to be pre-approved by the Company. As of the date of this prospectus, we have paid the Underwriter refundable advances of $50,000 which shall be applied against its actual out-of-pocket accountable expenses. Such advance payments will be returned to us to the extent any portion of the advance is not actually incurred, in accordance with FINRA Rule 5110(g)(4)(A).

We have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended.

Pursuant to the underwriting agreement, we will provide the representative of the underwriters the right of first refusal for two (2) years from the date of commencement of sales of this public offering to act as financial advisor or to act as joint financial advisor on at least equal economic terms on any public or private financing (debt or equity), merger, business combination, recapitalization or sale of some or all of the equity or assets of our company ("Future Services"). In the event that we engage the Underwriter to provide such Future Services, the Underwriter will be compensated consistent with the engagement agreement with the Underwriter, unless we mutually agree otherwise. To the extent we are approached by a third party to lead any public or private financing (debt or equity), merger, business combination, recapitalization or sale of some or all of our equity or assets, the Underwriter will be notified of the transaction and be granted the right to participate in such transaction under any syndicate formed by such third party.

**No Sales of Similar Securities**

We have agreed to a 12-month "lock-up" from the closing of this offering, during which, without the prior written consent of Boustead Securities, LLC, we shall not issue, sell or register with the SEC (other than on Form S-8 or on any successor form) with respect to any of our equity securities (or any securities convertible into, exercisable for or exchangeable for any of our equity securities), except for (i) the issuance of the shares of common stock offered pursuant to this prospectus; and (ii) the issuance of shares of common stock pursuant to our existing stock option or bonus plan as described in the registration statement of which this prospectus forms a part.

**Lock-Up Agreement**

Our executive officers, directors and certain of our significant stockholders have also agreed to a 12-month "lock-up," with the following exceptions [_______] and provided that after the initial six months following the date of this offering, stockholders subject to the lock-up will have limited ability to resell shares subject to [_______] limitations. During the lock-up period, without the prior written consent of Boustead Securities, LLC, such stockholders shall not, directly or indirectly, (i) offer, pledge, assign, encumber, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, any shares of common stock or any securities convertible into or exercisable or exchangeable for common stock, owned either of record or beneficially (as defined in the Securities Exchange Act of 1934, as amended (the "Exchange Act") by any signatory of the lock-up agreement on the date of the prospectus or thereafter acquired; (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the common stock or any securities convertible into or exercisable or exchangeable for common stock, whether any such transaction described in clauses (i) or (ii) above is to be settled by delivery of common stock or such other securities, in cash or otherwise, or publicly announce an intention to do any of the foregoing; and (iii) make any demand for or exercise any right with respect to, the registration of any shares of common stock or any security convertible into or exercisable or exchangeable for common stock. The foregoing shall not apply to (i) common stock to be transferred as a gift or gifts (*provided*, that (a) any donee shall execute and deliver to Boustead Securities, LLC, acting on behalf of the underwriters, not later than one business day prior to such transfer, a lock-up agreement to Boustead Securities, LLC and (b) if the lock-up signatory is required to file a report under Section 16(a) of the Exchange Act, reporting a reduction in beneficial ownership of shares of common stock or beneficially owned shares or any securities convertible into or exercisable or exchangeable for common stock or beneficially owned shares during the 12-month "lock-up," the lock-up signatory shall include a statement in such report to the effect that such transfer is being made as a gift), and (ii) the sale of the shares of common stock to be sold pursuant to this prospectus*.*

Rules of the SEC may limit the ability of the underwriters to bid for or purchase shares of our common stock before the distribution of the shares is completed. However, the underwriters may engage in the following activities in accordance with the rules:

● Stabilizing transactions - the representative may make bids or purchases for the purpose of pegging, fixing or maintaining the price of the common stock, so long as stabilizing bids do not exceed a specified maximum.

● Penalty bids - if the representative purchases shares of common stock in the open market in a stabilizing transaction or syndicate covering transaction, it may reclaim a selling concession from the underwriters and selling group members who sold those shares of common stock as part of this offering.

● Passive market making - market makers in the common stock who are underwriters or prospective underwriters may make bids for or purchases of shares of common stock, subject to limitations, until the time, if ever, at which a stabilizing bid is made.

Similar to other purchase transactions, the underwriters' purchases to cover the syndicate short sales or to stabilize the market price of our common stock may have the effect of raising or maintaining the market price of our common stock or preventing or mitigating a decline in the market price of our common stock. As a result, the price of our common stock may be higher than the price that might otherwise exist in the open market. The imposition of a penalty bid might also have an effect on the price of the common stock if it discourages resales of our shares of common stock.

Neither we nor the underwriters make any representation or prediction as to the effect that the transactions described above may have on the price of our common stock. These transactions may occur on the Nasdaq Capital Market or otherwise. If such transactions are commenced, they may be discontinued without notice at any time.

**Determination of Offering Price**

The public offering price of the Common Shares we are offering was determined by us in consultation with the Underwriter based on discussion with potential investors in light of the history and prospects of our Company, the stage of development of our business, our business plans for the future and the extent to which they have been implemented, an assessment of our management, the public stock price for similar companies, general conditions of the securities markets at the time of the offering, and such other factors as were deemed relevant.

The estimated initial public offering price set forth on the cover page of this preliminary prospectus is subject to change as a result of market conditions and other factors. Neither we nor the Underwriter can assure investors that an active trading market will develop for our common stock, or that the shares will trade in the public market at or above the initial public offering price.

**Electronic Delivery of Prospectus**

A prospectus in electronic format may be delivered to potential investors by one or more of the underwriters participating in this offering. The prospectus in electronic format will be identical to the paper version of such prospectus. Other than the prospectus in electronic format, the information on any underwriter's website and any information contained in any other website maintained by an underwriter is not part of this prospectus or the registration statement of which this prospectus forms a part.

**Legal Matters**

The validity of the shares of our Class A common stock offered hereby will be passed upon for us by Snell & Wilmer L.L.P., Los Angeles, California. The underwriters are being represented by McCarter & English LLP, East Brunswick, New Jersey.

**Experts**

Semple, Marchal & Cooper, LLP, an independent registered public accounting firm, has audited our financial statements at November 30, 2021 and November 30, 2020, and for the fiscal years ended November 30, 2021 and November 30, 2020 as set forth in their report. We have included our financial statements in the prospectus and elsewhere in the registration statement in reliance on Semple, Marchal & Cooper, LLP's report, given on their authority as experts in accounting and auditing.

**Where You Can Find Additional Information**

We have filed a registration statement on Form S-1 under the Securities Act with the SEC to register with the SEC the shares of our Class A common stock being offered in this prospectus. This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration statement or the exhibits and schedules filed with it. For further information about us and our Class A common stock, reference is made to the registration statement and the exhibits and schedules filed with it. Statements contained in this prospectus regarding the contents of any contract or any other document that is filed as an exhibit to the registration 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 registration statement.

When we complete this offering, we will also be required to file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings, including the registration statement, will also be available to you on the Internet website maintained by the SEC at *http://www.sec.gov*.

We also maintain Internet websites at *www.rvngo.com*. Our websites and the information contained therein or connected thereto shall not be deemed to be incorporated into this prospectus or the registration statement of which it forms a part.

**RVELOCITY, INC.**

**FINANCIAL STATEMENTS**

<u>**TABLE OF CONTENTS**</u>

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|:---|:---|
|  | **Page** |
| FINANCIAL STATEMENTS FOR YEARS ENDED NOVEMBER 30, 2020 and 2021: |  |
| [Report of Independent Registered Public Accounting Firm](#j_007) (PCAOB ID: 178) | F-2 |
| [Balance Sheets at November 30, 2020 and 2021](#j_002) | F-3 |
| [Statements of Operations for the Years Ended November 30, 2020 and 2021](#j_003) | F-4 |
| [Statements of Changes in Stockholders' Equity for the Years Ended November 30, 2020 and 2021](#j_004) | F-5 |
| [Statements of Cash Flows for the Years Ended November 30, 2020 and 2021](#j_005) | F-6 |
| [Notes to Financial Statements](#j_006) | F-7 |
| FINANCIAL STATEMENT SCHEDULE: |  |
| [Schedule II – Valuation and Qualifying Accounts](#Na_001) | F-18 |

---

---

| | |
|:---|:---|
| CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) FOR THE NINE MONTHS ENDED AUGUST 31, 2021 and 2022: |  |
| [Condensed Consolidated Balance Sheets at November 30, 2021 and August 31, 2022](#link_001) | F-19 |
| [Condensed Consolidated Statements of Operations for the Nine Months Ended August 31, 2021 and August 31, 2022](#link_002) | F-20 |
| [Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the Nine Months Ended August 31, 2021 and August 31, 2022](#link_003) | F-21 |
| [Condensed Consolidated Statements of Cash Flows for the Nine Months Ended August 31, 2021 and August 31, 2022](#lin_001) | F-22 |
| [Notes to Condensed Consolidated Financial Statements](#link_004) | F-23 |

---

**Report of Independent Registered Public Accounting Firm**

Board of Directors and Stockholders of:

RVeloCITY, Inc.

**Opinion on the Financial Statements**

We have audited the accompanying balance sheets of RVeloCITY, Inc., dba RVnGO (the "Company") as of November 30, 2021 and 2020, the related statements of operations, changes in stockholders' equity, and cash flows for the years then ended, and the related notes and financial statement schedule listed in the accompanying index for the years then ended (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of November 30, 2021 and 2020 and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

**Going Concern Uncertainty**

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

*/s/ Semple, Marchal & Cooper, LLP*

Certified Public Accountants

We have served as the Company's auditor since 2021.

Phoenix, Arizona

May 12, 2022

**RVELOCITY, INC.**

**BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
|  | **November 30,**<br>**2020** | **November 30,**<br>**2021** |
| **ASSETS** |  |  |
| **Current Assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $66491 | $447502 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 196519 | 596368 |
| **Total Current Assets** | 263010 | 1043870 |
| Intangible assets, net | 53250 | 6250 |
| **Total Assets** | $316260 | $1050120 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| **Current Liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $- | $3717 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 195512 | 561153 |
| **Total Current Liabilities** | 195512 | 564870 |
| **Total Liabilities** | 195512 | 564870 |
| **Stockholders' Equity:** |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $.0001 par value, 150,000,000 shares of Class A common stock authorized; 36,391,994 and 28,907,494 shares of Class A common stock issued; 33,530,663 and 26,862,830 of Class A common stock outstanding, respectively; $.0001 par value, 20,000,000 shares of Class B common stock authorized; 14,929,767 and 14,872,767 shares of Class B common stock issued; 13,569,767 and 13,572,767 shares of Class B common stock outstanding, respectively | 4378 | 5132 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 7409191 | 11405323 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (7053238) | (10570072) |
| &nbsp;&nbsp;&nbsp;Treasury stock, at cost | (239583) | (355133) |
| **Total Stockholders' Equity** | 120748 | 485250 |
| **Total Liabilities and Stockholders' Equity** | $316260 | $1050120 |

---

The accompanying notes are in an integral part of these financial statements.

**RVELOCITY, INC.**

**STATEMENTS OF OPERATIONS**

---

| | | |
|:---|:---|:---|
|  | **Year Ended**<br>**November 30,<br> 2020** | **Year Ended**<br>**November 30,<br> 2021** |
| Revenue | $133983 | $338967 |
| Costs and expenses: |  |  |
| &nbsp;&nbsp;&nbsp;Cost of revenue | 143841 | 415105 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 791512 | 1308392 |
| &nbsp;&nbsp;&nbsp;General and administrative | 1729022 | 1928637 |
| &nbsp;&nbsp;&nbsp;Research and development | 147707 | 228830 |
| Total cost and expenses | 2812082 | 3880964 |
| Loss from operations | (2678099) | (3541997) |
| Other income (expense): |  |  |
| &nbsp;&nbsp;&nbsp;Gain on the forgiveness of PPP loan |  | 91587 |
| &nbsp;&nbsp;&nbsp;Income from grant |  | 25000 |
| &nbsp;&nbsp;&nbsp;Other expense | (27712) | (4424) |
| Total other income (expense) | (27712) | 112163 |
| Loss before provision for income taxes | (2705811) | (3429834) |
| Provision for income taxes | - | - |
| Net loss | $(2705811) | $(3429834) |
| Net loss per common share - basic and diluted | $(0.07) | $(0.08) |
| Weighted average shares outstanding - basic and diluted | 36962143 | 43663795 |

---

The accompanying notes are in integral part of these financial statements.

**RVELOCITY, INC.**

**STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY**

**For the Years Ended November 30, 2021 and 2020**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | <br>**Class A and Class B** | <br>**Class A and Class B** | **Class A and Class B** | **Class A and Class B** | | | |
|  | **Common Stock** | **Common Stock** | **Treasury Stock** | **Treasury Stock** | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Additional**<br>**Paid-in**<br>**Capital** |<br>**Accumulated**<br>**Deficit** |<br>**Total** |
| **Balance at December 1, 2019** | 37028305 | $3703 | (3094664) | $(203333) | $4828879 | $(4208427) | $420822 |
| Issuance of common stock | 5599956 | 560 |  |  | 1224209 |  | 1224769 |
| Repurchase of common stock |  |  | (250000) | (36250) |  |  | (36250) |
| Exercise of common stock warrant | 1152000 | 115 |  |  | 143885 |  | 144000 |
| Stock-based compensation |  |  |  |  | 1212218 |  | 1212218 |
| Dividend in kind |  |  |  |  |  | (139000) | (139000) |
| Net loss | - | - |  |  | - | (2705811) | (2705811) |
| **Balance as of November 30, 2020** | 43780261 | $4378 | (3344664) | (239583) | $7409191 | $(7053238) | $120748 |
| **Balance at December 1, 2020** | 43780261 | $4378 | (3344664) | (239583) | $7409191 | $(7053238) | $120748 |
| Issuance of common stock | 7221500 | 722 |  |  | 2695004 |  | 2695726 |
| Repurchase of common stock |  |  | (876667) | (115550) |  |  | (115550) |
| Exercise of common stock warrant | 320000 | 32 |  |  | 39968 |  | 40000 |
| Stock-based compensation |  |  |  |  | 1261160 |  | 1261160 |
| Dividend in kind |  |  |  |  |  | (87000) | (87000) |
| Net loss | - | - | - | - | - | (3429834) | (3429834) |
| **Balance as of November 30, 2021** | 51321761 | $5132 | (4221331) | $(355133) | $11405323 | $(10570072) | $485250 |

---

The accompanying notes are in integral part of these financial statements.

**RVELOCITY, INC.**

**STATEMENTS OF CASH FLOWS**

---

| | | |
|:---|:---|:---|
|  | **Year Ended**<br>**November 30,<br> 2020** | **Year Ended**<br>**November 30,<br> 2021** |
| Cash flows from operating activities: |  |  |
| Net loss | $(2705811) | $(3429834) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Gain on the forgiveness of PPP loan |  | (91587) |
| &nbsp;&nbsp;&nbsp;Loss on disposal of fixed assets | 19800 |  |
| &nbsp;&nbsp;&nbsp;Amortization | 45750 | 47000 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 1212218 | 1261160 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (169066) | (399849) |
| &nbsp;&nbsp;&nbsp;Accounts payable | (2864) | 3717 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 46857 | 457228 |
| Net cash used in operating activities | (1553116) | (2152165) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Purchase of website development | (15000) | - |
| Net cash used in investing activities | (15000) | - |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Issuance of stock | 1368769 | 2735726 |
| &nbsp;&nbsp;&nbsp;Proceeds from PPP loan | 91587 |  |
| &nbsp;&nbsp;&nbsp;Forgiven loans | (139000) | (87000) |
| &nbsp;&nbsp;&nbsp;Shares repurchased | (36250) | (115550) |
| Net cash provided by financing activities | 1285106 | 2533176 |
| Net increase (decrease) in cash | (283010) | 381011 |
| Cash and cash equivalents - beginning of the year | 349501 | 66491 |
| Cash and cash equivalents - end of the year | $66491 | $447502 |
| Cash paid during the year for: |  |  |
| &nbsp;&nbsp;&nbsp;Interest | $2784 | $2584 |
| &nbsp;&nbsp;&nbsp;Income taxes | $- | $- |

---

The accompanying notes are in integral part of these financial statements.

**RVELOCITY, INC.**

**NOTES TO FINANCIAL STATEMENTS**

**NOTE 1 – DESCRIPTION OF BUSINESS**

RVeloCITY, Inc., doing business as RVnGO (the "Company") was incorporated in the State of Arizona on May 5, 2015 and is headquartered in Phoenix, Arizona. On April 5, 2022, the Company converted to a Delaware corporation. The Company operates a platform for unique recreational vehicle ("RV") experiences. The Company's marketplace model connects Hosts and Guests (collectively referred to as "customers") online or through mobile devices to book the RV and experiences across the United States of America.

*COVID-19 Pandemic*

In March 2020, the World Health Organization characterized the outbreak of the novel strain of coronavirus, specifically identified as COVID-19, as a global pandemic. This resulted in governments enacting emergency measures to combat the spread of the virus. These measures, which included the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruptions to business, resulting in a global economic slowdown. Equity markets have experienced significant volatility and weakness, and the governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions.

The current challenging economic climate may lead to adverse changes in cash flows, working capital levels and/or debt balances, which may also have a direct impact on the Company's operating results and financial position in the future. The ultimate duration and magnitude of the impact and the efficacy of government interventions on the economy and the financial effect on the Company are not known at this time. The extent of such impact will depend on future developments which are highly uncertain and not in the Company's control, including new information which may emerge concerning the spread and severity of COVID-19, or any of its variants, and actions taken to address its impact. The repercussions of this health crisis could have a material adverse effect on the Company's business, financial condition, liquidity and operating results.

In response to COVID-19, the Company has implemented working practices to address potential impacts to its operations, employees and customers, and will take further measures in the future if and as required. At present, we do not believe there has been any appreciable impact on the Company's operating results specifically associated with COVID-19.

*Emerging Growth Company*

The Company is an "emerging growth company," as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company's audited financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

**NOTE 2 –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

*Basis of Presentation*

The accompanying audited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The summary of significant accounting policies presented below is designed to assist in understanding the Company's financial statements. Such financial statements and accompanying notes are the representations of the Company's management.

*Use of Estimates* 

The preparation of financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity-based transactions and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from estimates included in these financial statements. Significant estimates include, but are not limited to, stock-based compensation, claim liabilities, and deferred income taxes.

*Cash*

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents.

*Intangible Assets*

Intangible assets are stated at cost less accumulated amortization. The Company capitalizes certain costs in connection with obtaining or developing software for internal use. Amortization of such costs begins when the project is substantially complete and ready for its intended use. Capitalized software development costs are classified as property and equipment, net on the balance sheets and are amortized using the straight-line method over the estimated useful life of the applicable software.

*Revenue*

The Company generates substantially all of its revenue from facilitating Guest stays at accommodations offered by Hosts on the Company's platform.

The Company recognizes revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). The Company considers both Hosts and Guests to be its customers. The customers agree to the Company's Terms of Service ("ToS") to use the Company's platform. Upon confirmation of a booking made by a Guest, the Host agrees to provide the use of the RV. At such time, the Host and Guest also agree upon the applicable booking value. The Company charges value-added service fees including (i) fees for our protection plan that offer the Host and Guest contractual protection and access to reimbursement in the event of damage to the RV and separate auto-liability coverage provided by a third-party insurance provider, which the Company has arranged access to for the Host and the Guest, (ii) fees for roadside assistance services, and (iii) a 3% processing fee charged to Guests. As a result, the Company's single performance obligation is to facilitate an RV rental, which occurs upon the completion of a check-in event (a "check-in"). The Company recognizes revenue upon check-in as its performance obligation is satisfied upon check-in and the Company has the right to receive payment for the fulfillment of the performance obligation.

The components of our revenue are set forth below:

---

| | | |
|:---|:---|:---|
|  | **Years ended November 30,** | **Years ended November 30,** |
|  | **2020** | **2021** |
|  | $**(Unaudited)** | $**(Unaudited)** |
| Protection plan fees | 110183 | 252349 |
| Roadside assistance fees | 10713 | 25121 |
| Processing fees, net of refund fees and adjustments | 13087 | 61497 |
| **Total Revenue** | $**133983** | $**338967** |

---

The Company evaluates the presentation of revenue on a gross versus net basis based on whether or not it is the principal (gross) or the agent (net) in the transaction. As part of the evaluation, the Company considers whether it controls the right to use the RV before control is transferred. Indicators of control that the Company considers include whether the Company is primarily responsible for fulfilling the promise associated with the rental of the RV, whether it has inventory risk associated with the property, and whether it has discretion in establishing the prices for the recreational vehicle. The Company determined that it does not control the right to use the RVs either before or after completion of its service. Accordingly, the Company has concluded that it is acting in an agent capacity and revenue for the RV rental fees exchanged between Guests and Hosts are presented net. With respect to the value-added service fees to facilitate the RV rental, the Company recognizes revenue on a gross basis as the Company has the control of the services and discretion to honor the claim or reject the services to Guests. Costs associated with the revenue is recorded in the cost of revenue.

The Company has elected to recognize the incremental costs of obtaining a contract, including the costs of certain referral fees, as an expense when incurred, as the amortization period of the asset that the Company otherwise would have recognized is one year or less. The Company has no significant financing components in its contracts with customers.

The Company has elected to exclude from revenue, taxes assessed by a governmental authority that are both imposed on and are concurrent with specific revenue producing transactions. Accordingly, such amounts are not included as a component of revenue or cost of revenue.

*Cost of Revenue*

Cost of revenue primarily consists of payment processing charges, including merchant fees and chargebacks, costs associated with third-party data centers used to host the Company's platform, fees payable to the Company's underwriters and expenses incurred for the value-added services provided by the Company through its platform.

*Sales and Marketing*

Sales and marketing costs primarily consist of performance and brand marketing, personnel-related expenses, including those related to field operations, portions of referral incentives and coupons, policy and communications, and allocated information technology. These costs are expensed as incurred. Included in sales and marketing costs are advertising expenses, with majority of the expenses related to television/social media marketing. The advertising expenses were $590,909 and $311,829 for the fiscal years ended November 30, 2021 and 2020, respectively.

*Income Taxes*

The Company follows the asset and liability method of accounting for income taxes under ASC 740, "Income Taxes." Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of November 30, 2021 and 2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception.

 

*Fair Value Measurements*

As defined in Accounting Standards Codification ("ASC") 820, *Fair Value Measurements and Disclosures*, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). This fair value measurement framework applies at both initial and subsequent measurement.

---

| | |
|:---|:---|
| Level 1: | Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. |
| Level 2: | Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. |
| Level 3: | Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management's best estimate of fair value. The significant unobservable inputs used in the fair value measurement for nonrecurring fair value measurements of long-lived assets include pricing models, discounted cash flow methodologies and similar techniques. |

---

*Fair Value of Financial Instruments*

The fair value of the Company's assets and liabilities which qualify as financial instruments under ASC 820, *Fair Value Measurements and Disclosures*, approximate the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature.

*Concentration of Risk*

The Company is currently dependent on a single third-party auto-liability carrier, as we believe it is in the best interest of our business from a profitability standpoint to consolidate with a sole provider. If our sole provider decides to not renew our current policy, which renews on an annual basis, or becomes insolvent or otherwise fails to pay on auto-liability claims, and we cannot secure a replacement carrier in time or at all, or if our carrier raised rates, it would severely impact our operations, our gross margins and our profitability, and our business, results of operations, and financial condition could be materially adversely affected.

 

*Net Loss Per Share*

Net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share is computed similar to basic earnings per share, except the weighted average number of common shares outstanding are increased to include additional shares from the assumed exercise of share options, if dilutive. The dilutive effect, if any, of warrants is calculated using the treasury stock method. There are no outstanding dilutive instruments as the outstanding options and warrants would be anti-dilutive if converted or exercised, respectively, as of November 30, 2021 and 2020.

The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company's net loss position even though the exercise price could be less than the average market price of the common shares:

---

| | | |
|:---|:---|:---|
|  | **Years Ended November 30,** | **Years Ended November 30,** |
|  | **2020** | **2021** |
| Stock Options | 10913093 | 7521710 |
| Common Stock Warrants | 9087565 | 13492617 |
| Total | 20000658 | 21014327 |

---

 

*Stock-based Compensation*

The Company applies the provisions of ASC 718, *Compensation - Stock Compensation*, ("ASC 718") which requires the measurement and recognition of compensation expense for all stock-based awards made to employees, including employee stock options, in the statements of operations.

For stock options issued to employees and members of the Board of Directors (the "Board) for their services, the Company estimates the grant date fair value of each option using the Black-Scholes option pricing model. The use of the Black-Scholes option pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the common stock. For awards subject to service-based vesting conditions, including those with a graded vesting schedule, the Company recognizes stock-based compensation expense equal to the grant date fair value of stock options on a straight-line basis over the requisite service period, which is generally the vesting term. Forfeitures are recorded as they are incurred as opposed to being estimated at the time of grant and revised.

*Leases*

The Company determines whether an arrangement is or contains a lease at inception. Operating lease right-of-use ("ROU") assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company maintains a remote work environment and, therefore, elected to not recognize ROU assets and lease liabilities arising from short-term office leases, leases with initial terms of twelve months or less, on the accompanying balance sheets. The Company's material operating leases consist of office space which was terminated in July 2020. Since the Covid-19 pandemic, the Company has moved to a distributed work from home model. Rent expense for the fiscal years ended November 30, 2021 and 2020 was $5,963 and $68,330, respectively.

*Recent Accounting Pronouncements*

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company's financial statements.

**NOTE 3 – GOING CONCERN AND MANAGEMENT'S LIQUIDITY PLANS**

At November 30, 2021 and 2020, the Company had cash of $447,502 and $66,491, respectively, and an accumulated deficit of $10,570,072 and $7,053,238, respectively. The Company's liquidity needs up to November 30, 2021 have been satisfied through equity financings.

For the years ended November 30, 2021 and 2020, the Company had a net loss of $3,429,834 and $2,705,811, respectively, and negative cash flows from operations of $2,152,165 and $1,553,116, respectively. The Company's operating activities consume the majority of its cash resources, and management anticipates that the Company will continue to incur operating losses as it executes its plans through 2022. In addition, the Company has had and expects to have negative cash flows from operations, at least into the near future. These conditions raise substantial doubt about the Company's ability to continue as a going concern for the ensuing year.

The accompanying financial statements have been prepared on the basis that the Company will continue as a going concern, which assumes the realization of assets and the satisfaction of liabilities in the normal course of business. Based on the Company's cash balance as of November 30, 2021 and 2020, and projected cash needs for 2022 and subsequent fiscal periods, management estimates that it will need to raise additional capital to cover operating and capital requirements. The Company will seek additional funding either through an initial public offering or through equity and debt financings and other arrangements. Although management has been successful to date in raising necessary funding, there is no assurance the Company will be successful in obtaining such additional financing on terms acceptable to it, if at all, and it may not be able to enter into other arrangements. If the Company is unable to obtain funding, it may not be able to effectively grow its business or implement its business strategies, which could adversely affect its business prospects and ability to continue operations.

Accordingly, the accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**NOTE 4 – PREPAID EXPENSES**

Prepaid Expenses consist of the following amounts.

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| | | |
|:---|:---|:---|
|  | **November 30,** | **November 30,** |
|  | **2020** | **2021** |
| Prepaid Marketing | $143500 | $436750 |
| Other Prepaids | 53019 | 159618 |
| **Prepaid Expenses** | $**196519** | $**596368** |

---

**NOTE 5 – INTANGIBLE ASSETS**

Intangible assets consist of capitalized software development costs, which are amortized using the straight-line method over the estimated useful life of 3 years. Total amortization expense was $47,000 and $45,750 for the years ended November 30, 2021 and 2020, respectively.

**NOTE 6 – ACCRUED EXPENSES AND OTHER LIABILITIES**

Accrued expenses and other liabilities consist of the following amounts:

---

| | | |
|:---|:---|:---|
|  | **November 30,** | **November 30,** |
|  | **2020** | **2021** |
| Accrued compensation | $76638 | $217627 |
| Claims liability accrual |  | 200000 |
| Professional services |  | 90697 |
| Payroll Protection Program Loan | 91587 |  |
| Other | 27287 | 52829 |
| **Accrued expenses and other liabilities** | $**195512** | $**561153** |

---

In June 2020, the Company received a Payroll Protection Program Loan (the "PPP loan") from a financial institution under the program established by the Federal government of the United States of America to provide economic stimulus in reaction to the COVID-19 pandemic. In the fourth quarter of fiscal year 2021, the Company was granted forgiveness of the PPP loan under the terms of the program. As such, the forgiveness of the PPP loan was reported as gain on the forgiveness of loans payable in the statement of operations during the fiscal year ended November 30, 2021.

**NOTE 7 – COMMITMENTS AND CONTINGENCIES**

*Commitments*

The Company has commitments including commitments for brand marketing. The following table presents these non-cancelable commitments and obligations as of November 30, 2021 over the next 5 years:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Year** | **Year** | **Year** | **Year** | **Year** |
|  | **2022** | **2023** | **2024** | **2025** | **Total** |
| **Marketing Expense** | $**295417** | $**232300** | $**280831** | $**19450** | $**827998** |

---

*Litigation*

The Company has been and is currently involved in litigation and legal proceedings and subject to legal claims in the ordinary course of business which include legal claims asserting, among other things, commercial, employment, and property rights. Depending on the nature of the claim, the Company may be subject to monetary damage awards, fines, penalties, and/or injunctive orders. While it is not possible to determine the outcomes, the Company believes based on its current knowledge that the resolution of all such pending matters will not, either individually or in the aggregate, have a material adverse effect on the Company's business, results of operations, financial condition, or cash flows.

*Host Protections*

Beginning in June 2021, the Company offers a protection plan that provides reimbursement of up to $200,000 or the replacement value of the Host's RV for direct physical loss or damage to a Host's covered property caused by Guests during a confirmed booking from an accident or other covered peril. The Company retains risk if the amount of the loss exceeds the deductible and damage deposit posted by the Guest. In addition, through brokered third-party insurers, customers are provided coverage up to $1,000,000 per occurrence for auto liability claims that occur during a rental. The Company retains limited risk for the auto-liability component in form of a deductible per claim with the third-party insurers. The Host protection plan includes various market standard conditions, limitations, and exclusions. The Company carries a liability for estimated claims based on information from Hosts and claims adjusters. This balance is evaluated at every reporting period based upon information provided by Hosts and claims adjusters.

In addition, there may be other damage or wear and tear caused during the rental that are not a covered peril, such as accidental breakage of RV parts or components, or if the Guest experience is not satisfactory. The Company works with the Host and Guest to help find an agreeable settlement for both parties to the matter but if a satisfactory settlement cannot be reached then the Company may in circumstances it deems prudent decide to reimburse one or both parties. Any reimbursement or settlements are recorded as our Costs of Revenue, net of any damage deposits recovered from Guests or refunds from the Hosts.

*Indemnifications*

The Company has entered into indemnification agreements with certain of its officers and directors. The indemnification agreements and the Company's Amended and Restated Bylaws (the "Bylaws") require the Company to indemnify these individuals to the fullest extent not prohibited by Delaware law. Subject to certain limitations, the indemnification agreements and Bylaws also require the Company to advance expenses incurred by its directors and officers. No demands have been made upon the Company to provide indemnification under the indemnification agreements or the Bylaws, and thus, there are no claims that the Company is aware of that could have a material adverse effect on the Company's business, results of operations, financial condition, or cash flows.

In the ordinary course of business, the Company has included limited indemnification provisions under certain agreements with parties with whom the Company has commercial relations of varying scope and terms with respect to certain matters, including losses arising out of its breach of such agreements or out of intellectual property infringement claims made by third parties. It is not possible to determine the maximum potential loss under these indemnification provisions due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. To date, no significant costs have been incurred, either individually or collectively, in connection with the Company's indemnification provisions.

**NOTE 8 – STOCKHOLDERS' EQUITY**

*Authorized Capital*

Pursuant to an action by the Board of Directors on March 14, 2022, the Company has retroactively applied that the total amount of shares of stock as of November 30, 2021 and 2020, which the Company had authority to issue, was 150,000,000 shares of Class A common stock with a par value of $0.0001 per share, 20,000,000 shares of Class B common stock with a par value of $0.0001 per share, and 100,000 shares of preferred stock with a par value of $0.0001 per share. Holders of Class A common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and holders of Class B common stock are entitled, prior to the closing of the Company's initial public offering (the "IPO"), to one vote for each share held and, following the closing of an IPO, to 10 votes for each share held on all matters submitted to a vote of stockholders.

The holders of Class A common stock shall be entitled to receive dividends if, as and when declared by the board of directors out of the assets of the Company properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. The holders of Class B common stock do not have any right to receive any dividends or distributions declared by the board of directors, provided that certain dividends payable in additional shares of Class B common stock may be declared in certain situations in order to preserve the relative proportionality of the Class A common stock as compared to the Class B common stock.

Each share of Class B common stock is convertible at any time on or after the one-year anniversary of the IPO, at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain permitted transfers further described in the Company's certificate of incorporation, including transfers to affiliates of the transferring holder.

All outstanding shares of Class B common stock will automatically convert into one share of Class A common stock upon the earliest to occur of the following events: (1) a date or time specified by the vote or written consent of the holders of at least a majority of the outstanding shares of Class B common stock, (2) any liquidation, dissolution, or winding up of the Company that is approved by the board of directors, and (3) the five-year anniversary of the date of the closing of the IPO.

*2017 Incentive Compensation Plan*

The Company has reserved a total of 9,436,086 shares of Class A common stock under its 2017 Incentive Compensation Plan (the "Plan"), which was amended and restated on March 15, 2022. The Plan authorizes the grant of nonqualified stock options and incentive stock options to Eligible Persons as defined in the Plan. The exercise of an option permits the option holder to purchase Class A common stock from the Company at a specified exercise price per share. The per share exercise price of all options granted under the Plan may not be less than the fair market value of a share of Class A common stock on the date of grant. The Plan provides that the term during which options may be exercised is determined by the Company's compensation committee, except that no option may be exercised more than 10 years after its grant date.

*Warrant and Option Valuation*

The Company has computed the fair value of compensatory warrants and options granted using the Black-Scholes option pricing model. The expected term used for warrants and options issued to employees and directors is the estimated period of time that options granted are expected to be outstanding. The Company utilizes the "simplified" method to develop an estimate of the expected term of "plain vanilla" grants. The Company is utilizing an expected volatility figure based on a review of the historical volatilities, over a period of time, equivalent to the expected life of the instrument being valued, of similarly positioned public companies within its industry. The risk-free interest rate was determined from the implied yields from U.S. Treasury zero-coupon bonds with a remaining term consistent with the expected term of the instrument being valued. Included in stock-based compensation expense of $1,261,160 and $1,212,218 for the years ended November 30, 2021 and 2020, respectively, was $835,160 and $820,730 related to employees and directors, respectively.

*Option Activity and Summary*

A summary of the option activity during the years ended November 30, 2021 and 2020, is presented below:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |<br><br>**Number of**<br>**Options** |<br>**Weighted**<br>**Average**<br>**Exercise**<br>**Price** | **Weighted**<br>**Average**<br>**Remaining**<br>**Life**<br>**In Years** |<br>**Aggregate**<br>**Intrinsic**<br>**Value** |
| Outstanding, December 1, 2019 | 8164659 | $0.16 |  |  |
| Granted | 4805434 | 0.30 |  |  |
| Exercised |  |  |  |  |
| Expired/Cancelled | (2057000) | 0.20 |  |  |
| Outstanding, November 30, 2020 | 10913093 | $0.21 | 8.45 | $932915 |
| Granted | 3223336 | 0.34 |  |  |
| Exercised |  |  |  |  |
| Cancelled/Replaced/Repurchased | (6614719) | 0.22 |  |  |
| Outstanding, November 30, 2021 | 7521710 | $0.27 | 5.05 | $1744892 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |<br>**Number of**<br>**Options** | **Weighted**<br>**Average**<br>**Exercise**<br>**Price** |<br>**Aggregate**<br>**Intrinsic**<br>**Value** |
| Outstanding, November 30, 2020 | 10913093 | $0.21 | $932915 |
| Vested and exercisable, November 30, 2020 | 9029343 | 0.20 | 922447 |
| Outstanding, November 30, 2021 | 7521710 | 0.27 | 1744892 |
| Vested and exercisable, November 30, 2021 | 5294627 | $0.24 | $1390256 |

---

The weighted average fair value of the options granted during years ended November 30, 2021 and 2020 was $0.25 and $0.23 per share, respectively, based on the Black-Scholes option pricing model using the following assumptions:

---

| | | |
|:---|:---|:---|
|  | **2020** | **2021** |
| Expected volatility | 98.1% | 77.5% |
| Range of expected term | 5.50 – 5.75 years | 5.50 – 5.75 years |
| Range of risk-free interest rate | 0.11% -1.70 | 0.17 % -1.07 |
| Dividend yield |  |  |

---

*Warrant Activity and Summary*

The warrants awards for the purchase of Class A common stock were granted to certain directors and employees for compensation. A summary of the compensatory warrants activity during the years ended November 30, 2021 and 2020, is presented below:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |<br><br>**Number of**<br>**Warrants** |<br>**Weighted**<br>**Average**<br>**Exercise**<br>**Price** | **Weighted**<br>**Average**<br>**Remaining**<br>**Life**<br>**In Years** |<br>**Aggregate**<br>**Intrinsic**<br>**Value** |
| Outstanding, December 1, 2019 | 597900 | $0.20 |  |  |
| Granted | 664331 | 0.30 |  |  |
| Exercised |  |  |  |  |
| Expired/Cancelled | - | - |  |  |
| Outstanding and Exercisable, November 30, 2020 | 1262231 | 0.25 | 3.71 | $59895 |
| Granted/Replaced | 6611383 | 0.26 |  |  |
| Exercised |  |  |  |  |
| Expired/Cancelled | - | - |  |  |
| Outstanding and Exercisable, November 30, 2021 | 7873614 | $0.26 | 3.93 | $1927283 |

---

The weighted average fair value of the warrants granted during years ended November 30, 2021 and 2020 was $0.17 and $0.17 per warrant, respectively, based on a Black Scholes option pricing model using the following assumptions:

---

| | | |
|:---|:---|:---|
|  | **2020** | **2021** |
| Expected volatility | 98.1% | 77.5% |
| Range of expected term | 3 years | 3 years |
| Range of risk-free interest rate | 0.11% -0.23 | 0.11% -0.52 |
| Dividend yield |  |  |

---

In addition to the compensatory warrants awards granted to directors and employees above, the Company has issued warrants in various private placements. As of November 30, 2021 and 2020, there were 13,492,617 and 9,087,565, respectively, total warrants outstanding and exercisable, each exercisable for one share of Class A common stock at an exercise price ranging from $0.13 to $0.50. As of November 30, 2021, the weighted average remaining contractual term is 2.53 years.

**NOTE 9 – INCOME TAXES**

The Company accounts for income taxes under ASC 740-10, which provides for an asset and liability approach of accounting for income taxes. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences, using currently enacted tax laws, attributed to temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts calculated for income tax purposes.

The components of the Company's tax rates for the years ended November 30, 2021 and 2020 consist of the following:

---

| | | |
|:---|:---|:---|
|  | **2020** | **2021** |
| U.S. federal statutory rate | 21.0% | 21.0% |
| Effects of: |  |  |
| &nbsp;&nbsp;&nbsp;State taxes, net of federal benefit | 3.9% | 3.9% |
| &nbsp;&nbsp;&nbsp;Stock based compensation | (11.1)% | (9.1)% |
| &nbsp;&nbsp;&nbsp;Gain on loan forgiveness |  | 0.7% |
| &nbsp;&nbsp;&nbsp;Other permanent differences | (0.2)% | (0.2)% |
| &nbsp;&nbsp;&nbsp;Valuation allowance | (13.6)% | (16.3)% |
| Effective rate | 0.0% | 0.0% |

---

Significant components of the Company's deferred tax assets as of November 30, 2021 and 2020 are summarized below.

---

| | | |
|:---|:---|:---|
|  | **2020** | **2021** |
| Deferred income tax assets: |  |  |
| &nbsp;&nbsp;&nbsp;Net operating losses | $1225000 | $1784000 |
| Total deferred tax asset | 1225000 | 1784000 |
| &nbsp;&nbsp;&nbsp;Valuation allowance | (1225000) | (1784000) |
| Net Deferred income tax assets | $- | $- |

---

As of November 30, 2021, the Company had approximately $7.2 million of federal and state net operating loss carry forwards. Future utilization of the net operating loss carry forwards is subject to certain limitations under Section 382 of the Internal Revenue Code. These federal and state operating losses expire between 5 and 20 years, with no expiration for the federal net operating losses for the years 2019 through 2021. The Company records tax penalties and interest as a component of operating expenses.

The Company provides for a valuation allowance when it is more likely than not that it will not realize a portion of the deferred tax assets. The Company has established a valuation allowance against the net deferred tax asset due to the uncertainty that enough taxable income will be generated in those taxing jurisdictions to utilize the assets. Therefore, we have not reflected any benefit of such deferred tax assets in the accompanying financial statements. The Company's net deferred tax asset and valuation allowance increased by $559,000 and $369,000 for the years ended November 30, 2021 and 2020, respectively.

The Company is subject to U.S. federal income tax examinations by tax authorities for all tax years since inception due to unexpired net operating loss carryforwards originating in and subsequent to that year. The Company may be subject to income tax examinations for the various taxing authorities which vary by jurisdiction.

The Company has evaluated its income tax positions and has determined that it does not have any uncertain tax positions. The Company will recognize interest and penalties related to any uncertain tax positions through its income tax expense.

**NOTE 10 – RELATED PARTIES**

In October 2021 and June 2020, the Company advanced noninterest-bearing loans in the aggregate principal amount of $87,000 and $139,000, respectively, to the Company's Chief Executive Officer and Chairman of the Board (the "CEO"). The funds were used by the CEO for the exercise of certain warrants previously issued by the Company to the CEO. The loans were forgiven in their entirety by the Company in February 2022 effective as of the date first made. The CEO is a principal owner with more than 10 percent of the voting interests of the Company. Accordingly, the forgiveness of the loans was treated as capital transactions and recorded as a reduction in shareholders' deficit.

In June 2020, the Company advanced noninterest-bearing loans in the aggregate principal amount of $7,010, to a member of the Company's board of directors (the "Director"). The funds were used by the Director for the exercise of certain warrants previously issued by the Company to the Director. The loans were forgiven in their entirety by the Company in February 2022 effective as of the date first made.

**NOTE 11 – SUBSEQUENT EVENTS**

The Company has evaluated subsequent events through May 12, 2022, the date the financial statements were available for issuance.

*Corporate Reorganization*

On April 5, 2022, the Company completed a statutory conversion to change the Company's corporate domicile from Arizona to Delaware, which conversion also entailed the replacement of the Company's Series A common stock and Series B common stock with Class A common stock and Class B common stock of the post-conversion Delaware corporation (with each outstanding share of Series A common stock at the time of conversion being converted into one share of Class A common stock of the Delaware corporation, and each outstanding share of Series B common stock at the time of conversion being converted into one share of Class B common stock of the Delaware corporation) and the adoption of new rights, preferences and privileges of such Class A common stock and Class B common stock.

*Convertible Notes Offerings*

Between January 8, 2022 and February 28, 2022, the Company entered into, issued, and sold convertible promissory notes to certain investors in the aggregate principal amount of $1,755,000 (the "Convertible Notes"). The Convertible Notes have an annual interest rate of 6% and mature after three years. Upon the closing of the IPO, the outstanding principal and accrued interest under the Convertible Notes will automatically (and without any action on the part of the note holders) be converted into shares of our Class A common stock at a conversion price equal to 60% of the IPO price of Class A common stock. The Convertible Notes will also automatically convert if, prior to the maturity date of such notes and prior to the closing of this offering, the Company undergoes a change of control, reverse merger, or merger with a special purpose acquisition company (SPAC), at a conversion price equal to 60% of the aggregate consideration in any such transaction, divided by the total number of outstanding shares of the acquiror resulting from such transaction. The outstanding principal and accrued interest under the Convertible Notes may also be converted at any time at the option of each note holder into Class A common stock at a price equal to the price per share determined by dividing $50 million by the total number of outstanding shares of Class A common stock and Class B common stock. In the event neither this offering nor any other liquidity event is consummated within twelve months of the issue date of the Convertible Notes, the Company may elect either to (a) repay the Convertible Notes in whole or in part (subject to the conversion rights of the note holders), or (b) if the Company does not repay the Convertible Notes, the unpaid principal amount of the Convertible Notes will automatically increase to 110% of the outstanding principal amount. The Company may also elect to prepay the Convertible Note at any time after March 31, 2022 upon 20 business days' prior written notice to the note holders.

*Class B Common Stock Exchange Offer*

On March 15, 2022, the Company made an offer to all holders of Class B common stock (other than certain executives), to exchange all or a portion of their shares of Class B common stock for shares of Class A common stock on a one-for-one basis (the "Exchange Offer"). Pursuant to the Exchange Offer, an aggregate of 4,611,767 shares of Class B common stock was exchanged for 4,611,767 shares of Class A common stock.

*Equity grants*

Since the end of the fiscal year ended November 30, 2021, the Company has issued in the ordinary course of business 133,334 warrants to purchase shares of Class A common stock, and 750,000 options under the Plan to purchase shares of Class A common stock to recently hired team members.

**Schedule II – Valuation and Qualifying Accounts**

The table below details the activities of the claims liabilities for the fiscal years ended November 31, 2020 and 2021:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Balance at<br> Beginning of<br> Period** | **Additions for<br> Current Period** | **Changes in<br> Estimates for<br> Prior Periods** | **Net Payments** | **Balance at<br> End of Period** |
| **Claims Liabilities** |  |  |  |  |  |
| Year Ended November 31, 2020 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $— | $— | $— | $— |
| Year Ended November 31, 2021 | $— | $232169 | $— | $(32169) | $200000 |

---

**RVELOCITY, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **November 30,**<br>**2021** | **August 31,**<br>**2022 (unaudited)** |
| **ASSETS** |  |  |
| **Current Assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $447502 | $339707 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 596368 | 465782 |
| **Total Current Assets** | 1043870 | 805489 |
| Intangible assets, net | 6250 | 2500 |
| **Total Assets** | $1050120 | $807989 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)** |  |  |
| **Current Liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $3717 | $892528 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 561153 | 611965 |
| &nbsp;&nbsp;&nbsp;Notes payable | - | 1468093 |
| **Total Current Liabilities** | 564870 | 2972586 |
| &nbsp;&nbsp;&nbsp;Convertible notes payable | - | 1606521 |
| **Total Liabilities** | 564870 | 4579107 |
| **Stockholders' Equity (Deficit):** |  |  |
| &nbsp;&nbsp;&nbsp;Common stock, $.0001 par value, 150,000,000 shares of Class A common stock authorized; 36,391,994 and 41,083,761 shares of Class A common stock issued; 33,530,663 and 38,222,430 of Class A common stock outstanding, respectively; $.0001 par value, 20,000,000 shares of Class B common stock authorized; 14,929,767 and 10,318,000 shares of Class B common stock issued; 13,569,767 and 8,958,000 shares of Class B common stock outstanding, respectively | 5132 | 5140 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 11405323 | 13526071 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (10570072) | (16947196) |
| &nbsp;&nbsp;&nbsp;Treasury stock, at cost | (355133) | (355133) |
| **Total Stockholders' Equity (Deficit)** | 485250 | (3771118) |
| **Total Liabilities and Stockholders' Equity (Deficit)** | $1050120 | $807989 |

---

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

**RVELOCITY, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **August 31, 2021** | **August 31, 2022** |
| Revenue | $291418 | $313690 |
| Costs and expenses: |  |  |
| &nbsp;&nbsp;&nbsp;Cost of revenue | 296523 | 534579 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 838742 | 1739696 |
| &nbsp;&nbsp;&nbsp;Product development | 147489 | 360910 |
| &nbsp;&nbsp;&nbsp;General and administrative | 1101930 | 4035401 |
| Total cost and expenses | 2384684 | 6670586 |
| Loss from operations | (2093266) | (6356896) |
| Other income (expense): |  |  |
| &nbsp;&nbsp;&nbsp;Income from grant |  | 125000 |
| &nbsp;&nbsp;&nbsp;Interest expense, net | (4087) | (145228) |
| Total other income (expense) | (4087) | (20228) |
| Loss before provision for income taxes | (2097353) | (6377124) |
| Provision for income taxes | - | - |
| Net loss | $(2097353) | $(6377124) |
| Net loss per common share - basic and diluted | $(0.05) | $(0.14) |
| Weighted average shares outstanding - basic and diluted | 42672964 | 47155029 |

---

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

**RVELOCITY, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)**

**FOR THE NINE MONTHS ENDED AUGUST 31, 2021 AND 2022**

**(Unaudited)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | **Treasury Stock** | **Treasury Stock** | | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** |<br>**Subscription**<br>**Receivable** | **Additional**<br>**Paid-in**<br>**Capital** |<br>**Accumulated**<br>**Deficit** |<br>**Total** |
| **Balance at December 1, 2020** | 43780261 | $4378 | (3344664) | $(239583) | $- | $7409191 | $(7053238) | $120748 |
| Subscription receivable |  |  |  |  | (750000) |  |  | (750000) |
| Issuance of common stock | 6459500 | 646 |  |  |  | 2354354 |  | 2355000 |
| Repurchase of common stock |  |  | (66667) | (20000) |  |  |  | (20000) |
| Stock-based compensation |  |  |  |  |  | 1000937 |  | 1000937 |
| Net loss | - | - | - | - | - | - | (2097353) | (2097353) |
| **Balance as of August 31, 2021** | 50239761 | $5024 | (3411331) | $(259583) | $(750000) | $10764482 | $(9150591) | $609332 |
| **Balance at December 1, 2021** | 51321761 | $5132 | (4221331) | $(355133) | $- | $11405323 | $(10570072) | $485250 |
| Repurchase of stock option |  |  |  |  |  | (50000) |  | (50000) |
| Exercise of common stock warrant | 80000 | 8 |  |  |  | 19992 |  | 20000 |
| Warrants issued in connection with notes |  |  |  |  |  | 215493 |  | 215493 |
| Stock-based compensation |  |  |  |  |  | 1935263 |  | 1935263 |
| Net loss | - | - | - | - | - | - | (6377124) | (6377124) |
| **Balance as of August 31, 2022** | 51401761 | $5140 | (4221331) | $(355133) | $- | $13526071 | $(16947196) | $(3771118) |

---

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

**RVELOCITY, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** 

**(Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **August 31, 2021** | **August 31, 2022** |
| Cash flows from operating activities: |  |  |
| Net loss | $(2097353) | $(6377124) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Amortization | 35250 | 3750 |
| &nbsp;&nbsp;&nbsp;Amortization of debt discount |  | 88759 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation | 1000937 | 1935263 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (337626) | 130586 |
| &nbsp;&nbsp;&nbsp;Other current assets | (122715) |  |
| &nbsp;&nbsp;&nbsp;Accounts payable |  | 888811 |
| Accrued expenses and other liabilities | 197490 | 50812 |
| Net cash used in operating activities | (1324017) | (3279143) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;Issuance of stock | 1605000 |  |
| &nbsp;&nbsp;&nbsp;Proceeds from convertible notes |  | 1579573 |
| &nbsp;&nbsp;&nbsp;Proceeds from notes |  | 1621775 |
| &nbsp;&nbsp;&nbsp;Proceeds from warrants exercise |  | 20000 |
| &nbsp;&nbsp;&nbsp;Shares repurchased | (20000) |  |
| &nbsp;&nbsp;&nbsp;Stock options repurchased | - | (50000) |
| Net cash provided by financing activities | 1585000 | 3171348 |
| Net increase (decrease) in cash | 260983 | (107795) |
| Cash and cash equivalents - beginning of the year | 66491 | 447502 |
| Cash and cash equivalents - end of the year | $327473 | $339707 |
| Cash paid during the year for: |  |  |
| &nbsp;&nbsp;&nbsp;Interest | $- | $- |
| &nbsp;&nbsp;&nbsp;Income Taxes | $- | $- |

---

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

**RVELOCITY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

(Unaudited)

**NOTE 1 – DESCRIPTION OF BUSINESS**

RVeloCITY, Inc., doing business as RVnGO (the "Company") was incorporated in the State of Arizona on May 5, 2015 and is headquartered in Phoenix, Arizona. On April 5, 2022, the Company converted to a Delaware corporation. The Company operates a platform for unique recreational vehicle ("RV") experiences. The Company's marketplace model connects Hosts and Guests (collectively referred to as "customers") online or through mobile devices to book the RV and experiences across the United States of America.

**NOTE 2 –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

*Basis of Presentation*

The accompanying unaudited condensed consolidated financial information as of and for the nine months ended August 31, 2021 and 2022 has been prepared in accordance with GAAP for interim financial information. In the opinion of management, such financial information includes all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the Company's financial position at such dates and the operating results and cash flows for such periods. Operating results for the nine months ended August 31, 2022 are not necessarily indicative of the results that may be expected for the entire year or for any other subsequent interim period.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules of the U.S. Securities and Exchange Commission (the "SEC"). These unaudited condensed consolidated financial statements and related notes should be read in conjunction with the Company's audited financial statements for the year ended November 30, 2021.

*Principles of Consolidation*

The accompanying consolidated financial statements include the accounts of the Company and Peerage Holdings, Inc., its wholly-owned subsidiary in accordance with consolidation accounting guidance. Peerage Holdings, Inc. is a dormant entity and no activity has been performed to date. All intercompany transactions have been eliminated in consolidation.

 

*Use of Estimates*

The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity-based transactions and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from estimates included in these financial statements. Significant estimates include, but are not limited to, the valuation of stock-based compensation and warrants issued with debt, claim liabilities, and deferred income taxes.

*Revenue*

The Company generates substantially all of its revenue from facilitating Guest stays at accommodations offered by Hosts on the Company's platform.

The Company recognizes revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC 606"). The Company considers both Hosts and Guests to be its customers. The customers agree to the Company's Terms of Service ("ToS") to use the Company's platform. Upon confirmation of a booking made by a Guest, the Host agrees to provide the use of the RV. At such time, the Host and Guest also agree upon the applicable booking value. The Company charges value-added service fees including (i) fees for our protection plan that offer the Host and Guest contractual protection and access to reimbursement in the event of damage to the RV and separate auto-liability coverage provided by a third-party insurance provider which the Company has arranged access to for the Host and the Guest, (ii) fees for roadside assistance services, and (iii) a 3% processing fee charged to Guests. As a result, the Company's single performance obligation is to facilitate an RV rental, which occurs upon the completion of a check-in event (a "check-in"). The Company recognizes revenue upon check-in as its performance obligation is satisfied upon check-in and the Company has the right to receive payment for the fulfillment of the performance obligation.

The components of our revenue are set forth below:

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended August 31,** | **Nine Months Ended August 31,** |
|  | **2021** | **2022** |
|  | **(Unaudited)** | **(Unaudited)** |
| Protection plan fees | $219213 | $243674 |
| Roadside assistance fees | 19253 | 35316 |
| Processing fees, net of refund fees and adjustments | 52952 | 34700 |
| **Total Revenue** | $**291418** | $**313690** |

---

The Company evaluates the presentation of revenue on a gross versus net basis based on whether or not it is the principal (gross) or the agent (net) in the transaction. As part of the evaluation, the Company considers whether it controls the right to use the RV before control is transferred. Indicators of control that the Company considers include whether the Company is primarily responsible for fulfilling the promise associated with the rental of the RV, whether it has inventory risk associated with the property, and whether it has discretion in establishing the prices for the recreational vehicle. The Company determined that it does not control the right to use the RVs either before or after completion of its service. Accordingly, the Company has concluded that it is acting in an agent capacity and revenue for the RV rental fees exchanged between Guests and Hosts are presented net. With respect to the value-added service fees to facilitate the RV rental, the Company recognizes revenue on a gross basis as the Company has the control of the services and discretion to honor the claim or reject the services to Guests. Costs associated with the revenue is recorded in the cost of revenue.

The Company has elected to recognize the incremental costs of obtaining a contract, including the costs of certain referral fees, as an expense when incurred, as the amortization period of the asset that the Company otherwise would have recognized is one year or less. The Company has no significant financing components in its contracts with customers.

The Company has elected to exclude from revenue, taxes assessed by a governmental authority that are both imposed on and are concurrent with specific revenue producing transactions. Accordingly, such amounts are not included as a component of revenue or cost of revenue.

*Cost of Revenue*

Cost of revenue primarily consists of payment processing charges, including merchant fees and chargebacks, costs associated with third-party data centers used to Host the Company's platform, fees payable to the Company's underwriters and expenses incurred for the value-added services provided by the Company through its platform.

*Sales and Marketing*

Sales and marketing costs primarily consist of performance and brand marketing, personnel-related expenses, including those related to field operations, portions of referral incentives and coupons, policy and communications, and allocated information technology. These costs are expensed as incurred. Included in sales and marketing costs are advertising expenses, with majority of the expenses related to television/social media marketing. The advertising expenses were $391,087 and $552,896 for the nine months ended August 31, 2021 and 2022, respectively.

*Income Taxes*

The Company follows the asset and liability method of accounting for income taxes under ASC 740, "Income Taxes." Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of August 31, 2022 and November 20, 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception.

 

*Fair Value of Financial Instruments*

The fair value of the Company's assets and liabilities which qualify as financial instruments under ASC 820, *Fair Value Measurements and Disclosures*, approximate the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature.

*Concentration of Risk*

The Company is currently dependent on a single third-party insurance carrier, as we believe it is in the best interest of our business from a profitability standpoint to consolidate our insurance with a sole provider. If our sole provider decides to not renew our current policy, which renews on an annual basis, or becomes insolvent or otherwise fails to pay on insurance claims, and we cannot secure a replacement carrier in time or at all, or if our carrier raised rates, it would severely impact our operations, our gross margins and our profitability, and our business, results of operations, and financial condition could be materially adversely affected.

 

 

*Net Loss Per Share*

Net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share is computed similar to basic earnings per share, except the weighted average number of common shares outstanding are increased to include additional shares from the assumed exercise of share options, if dilutive. The dilutive effect, if any, of warrants is calculated using the treasury stock method. There are no outstanding dilutive instruments as the outstanding options and warrants would be anti-dilutive if converted or exercised, respectively, as of August 31, 2021 and 2022.

The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the Company's net loss position even though the exercise price could be less than the average market price of the common shares:

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended August 31,** | **Nine Months Ended August 31,** |
|  | **2021** | **2022** |
| Stock Options | 7131710 | 7446710 |
| Common Stock Warrants | 13630616 | 11675951 |
| Total | 20762326 | 19122661 |

---

*Stock-based Compensation*

The Company applies the provisions of ASC 718, *Compensation - Stock Compensation*, ("ASC 718") which requires the measurement and recognition of compensation expense for all stock-based awards made to employees, including employee stock options, in the statements of operations.

For stock options issued to employees and members of the Board of Directors (the "Board) for their services, the Company estimates the grant date fair value of each option using the Black-Scholes option pricing model. The use of the Black-Scholes option pricing model requires management to make assumptions with respect to the expected term of the option, the expected volatility of the common stock consistent with the expected life of the option, risk-free interest rates and expected dividend yields of the common stock. For awards subject to service-based vesting conditions, including those with a graded vesting schedule, the Company recognizes stock-based compensation expense equal to the grant date fair value of stock options on a straight-line basis over the requisite service period, which is generally the vesting term. Forfeitures are recorded as they are incurred as opposed to being estimated at the time of grant and revised.

*Leases*

The Company determines whether an arrangement is or contains a lease at inception. Operating lease right-of-use ("ROU") assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company maintains a remote work environment and, therefore, elected to not recognize ROU assets and lease liabilities arising from short-term office leases, leases with initial terms of twelve months or less, on the accompanying balance sheets. Rent expense for the nine months ended August 31, 2021 and 2022 was $0 and $16,846, respectively.

*Recent Accounting Pronouncements*

Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company's consolidated financial statements.

**NOTE 3 – GOING CONCERN AND MANAGEMENT'S LIQUIDITY PLANS**

At August 31, 2022 and at November 30, 2021, the Company had cash of $339,707 and $447,502, respectively, and an accumulated deficit of $16,947,196 and $10,570,072, respectively. The Company's liquidity needs up to August 31, 2022 have been satisfied through equity and debt financings.

For the nine months ended August 31, 2022, the Company had a net loss of $6,377,124, and negative cash flows from operations of $3,279,143. The Company's operating activities consume the majority of its cash resources, and management anticipates that the Company will continue to incur operating losses as it executes its plans through 2023. In addition, the Company has had and expects to have negative cash flows from operations, at least into the near future. These factors raise substantial doubt about the Company's ability to continue as a going concern. As a result, the Company's independent registered public accounting firm included a Going Concern Uncertainty paragraph with respect to the Company's audited financial statements for the year ended November 30, 2021, expressing uncertainty regarding the Company's assumption that it will continue as a going concern.

The accompanying unaudited condensed consolidated financial statements have been prepared on the basis that the Company will continue as a going concern, which assumes the realization of assets and the satisfaction of liabilities in the normal course of business. Based on the Company's cash balance as of August 31, 2022 and projected cash needs for 2023, and subsequent fiscal periods, management estimates that it will need to raise additional capital to cover operating and capital requirements. The Company will seek additional funding either through an initial public offering or through equity and debt financings and other arrangements. Although management has been successful to date in raising necessary funding, there is no assurance the Company will be successful in obtaining such additional financing on terms acceptable to it, if at all, and it may not be able to enter into other arrangements. If the Company is unable to obtain funding, it may not be able to effectively grow its business or implement its business strategies, which could adversely affect its business prospects and ability to continue operations.

Accordingly, the accompanying condensed consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and the satisfaction of liabilities in the normal course of business. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**NOTE 4 – PREPAID EXPENSES**

Prepaid Expenses consist of the following amounts.

---

| | | |
|:---|:---|:---|
|  | **November 30,**<br>**2021** | **August 31,**<br>**2022** |
| Prepaid Marketing | 436750 | 323542 |
| Other Prepaids | 159618 | 142240 |
| **Prepaid Expenses** | $**596368** | $**465782** |

---

**NOTE 5 – INTANGIBLE ASSETS**

Intangible assets consist of capitalized software development costs, which are amortized using the straight-line method over the estimated useful life of 3 years. Total amortization expense was $35,250 and $3,750 for the nine months ended August 31, 2021 and 2022, respectively.

**NOTE 6 – ACCRUED EXPENSES AND OTHER LIABILITIES**

Accrued expenses and other liabilities consist of the following amounts:

---

| | | |
|:---|:---|:---|
|  | **November 30,** | **August 31,** |
|  | **2021** | **2022** |
| Accrued compensation | 217627 | 112592 |
| Claims liability accrual | 200000 | 136719 |
| Accrued vendor fees | 90697 | 98596 |
| Insurance premium payable |  | 99306 |
| Interest payable |  | 45063 |
| Other | 52829 | 119689 |
| **Accrued expenses and other liabilities** | $**561153** | $**611965** |

---

**NOTE 7 – CONVERTIBLE NOTES AND PROMISSORY NOTES PAYABLE**

*Convertible Notes Payable*

 

Between January 8, 2022 and February 28, 2022, the Company entered into, issued, and sold convertible promissory notes to certain investors in the aggregate principal amount of $1,755,000 (the "Convertible Notes"). The Convertible Notes have an annual interest rate of 6% and mature after three years. Upon the closing of the IPO, the outstanding principal and accrued interest under the Convertible Notes will automatically (and without any action on the part of the note holders) be converted into shares of our Class A common stock at a conversion price equal to 60% of the IPO price of Class A common stock (the "Conversion Price"). The Convertible Notes will also automatically convert if, prior to the maturity date of such notes and prior to the closing of this offering, the Company undergoes a change of control, reverse merger, or merger with a special purpose acquisition company (SPAC), at a conversion price equal to 60% of the aggregate consideration in any such transaction, divided by the total number of outstanding shares of the acquiror resulting from such transaction. The outstanding principal and accrued interest under the Convertible Notes may also be converted at any time at the option of each note holder into Class A common stock at a price equal to the price per share determined by dividing $50 million by the total number of outstanding shares of Class A common stock and Class B common stock. In the event neither this offering nor any other liquidity event is consummated within twelve months of the issue date of the Convertible Notes, the Company may elect either to (a) repay the Convertible Notes in whole or in part (subject to the conversion rights of the note holders), or (b) if the Company does not repay the Convertible Notes, the unpaid principal amount of the Convertible Notes will automatically increase to 110% of the outstanding principal amount. The Company may also elect to prepay the Convertible Note at any time after March 31, 2022 upon 20 business days' prior written notice to the note holders.

On January 21, 2022 and February 24, 2022, in connection with the Convertible Notes offerings, the Company issued certain warrants to purchase our Class A common stock to Boustead Securities, LLC, as placement agent (the "Boustead Convertible Note Warrants"). Pursuant to the Boustead Convertible Note Warrants, Boustead Securities, LLC may purchase such number of shares of our Class A common stock (subject to adjustment) equal to 7% of the number of shares of Class A common stock into which the Convertible Notes convert into pursuant to their terms at an exercise price equal to the Conversion Price. The Boustead Convertible Note Warrants expire five years from their respective date of issuance.

Upon the issuance of convertible notes, the Company incurred issuance cost of $175,427, which was recorded as a debt discount. Debt discount is amortized as interest expense over the life of the convertible notes. The amount outstanding at August 31, 2022 and November 30, 2021, was $1,606,521 (net of debt discount of $148,479) and $0, respectively.

*Promissory Notes Payable*

Between May 27, 2022 and August 17, 2022, the Company entered into, issued, and sold promissory notes with detachable 5 year warrants to certain investors in the aggregate principal amount of $1,800,000. The notes bear 10% interest rate per annum and the outstanding balance of the notes, including all accrued interest, shall be due and payable on the earlier of the Company's completion of its IPO (initial public offering) or June 30, 2023. Warrants to purchase the Company's 720,000 common stock in total were issued with an exercise price of $2.50 per share or 50% of the IPO price, whichever is lower. Proceeds from the sales of promissory notes with stock purchase warrants were allocated to the two elements based on the relative fair value of the notes without the warrants and of the warrants themselves at time of issuance. The total amounts allocated to warrants were $215,493 and accounted for as paid-in capital. The discount amount was calculated by determining the aggregate fair value of the warrants using the Black-Scholes Option Pricing Model.

The amount outstanding at August 31, 2022 and November 30, 2021, was $1,468,093 (net of debt discount of $331,908) and $0, respectively.

**NOTE 8 – COMMITMENTS AND CONTINGENCIES**

*Commitments*

The Company has commitments including commitments for brand marketing. These non-cancelable commitments and obligations as of August 31, 2022 amounted $558,331.

*Litigation*

The Company has been and is currently involved in litigation and legal proceedings and subject to legal claims in the ordinary course of business which include legal claims asserting, among other things, commercial, employment, and property rights. Depending on the nature of the claim, the Company may be subject to monetary damage awards, fines, penalties, and/or injunctive orders. While it is not possible to determine the outcomes, the Company believes based on its current knowledge that the resolution of all such pending matters will not, either individually or in the aggregate, have a material adverse effect on the Company's business, results of operations, financial condition, or cash flows.

*Host Protections*

Beginning in June 2021, the Company offers a protection plan that provides reimbursement of up to $200,000 or the replacement value of the Host's RV for direct physical loss or damage to a Host's covered property caused by Guests during a confirmed booking from an accident or other covered peril. The Company retains risk if the amount of the loss exceeds the deductible and damage deposit posted by the Guest. In addition, through brokered third-party insurers, customers are provided coverage up to $1,000,000 per occurrence for auto liability claims that occur during a rental. The Company retains limited risk for the auto-liability component in form of a deductible per claim with the third-party insurers. The Host protection plan includes various market standard conditions, limitations, and exclusions. The Company carries a liability for estimated claims based on information from Hosts and claims adjusters. This balance is evaluated at every reporting period based upon information provided by Hosts and claims adjusters.

In addition, there may be other damage or wear and tear caused during the rental that are not a covered peril, such as accidental breakage of RV parts or components, or if the Guest experience is not satisfactory. The Company works with the Host and Guest to help find an agreeable settlement for both parties to the matter but if a satisfactory settlement cannot be reached then the Company may in circumstances it deems prudent decide to reimburse one or both parties. Any reimbursement or settlements are recorded as our Costs of Revenue, net of any damage deposits recovered from Guests or refunds from the Hosts.

*Indemnifications*

The Company has entered into indemnification agreements with certain of its officers and directors. The indemnification agreements and the Company's Amended and Restated Bylaws (the "Bylaws") require the Company to indemnify these individuals to the fullest extent not prohibited by Delaware law. Subject to certain limitations, the indemnification agreements and Bylaws also require the Company to advance expenses incurred by its directors and officers. No demands have been made upon the Company to provide indemnification under the indemnification agreements or the Bylaws, and thus, there are no claims that the Company is aware of that could have a material adverse effect on the Company's business, results of operations, financial condition, or cash flows.

In the ordinary course of business, the Company has included limited indemnification provisions under certain agreements with parties with whom the Company has commercial relations of varying scope and terms with respect to certain matters, including losses arising out of its breach of such agreements or out of intellectual property infringement claims made by third parties. It is not possible to determine the maximum potential loss under these indemnification provisions due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. To date, no significant costs have been incurred, either individually or collectively, in connection with the Company's indemnification provisions.

**NOTE 9 – STOCKHOLDERS' EQUITY**

*Authorized Capital*

Pursuant to an action by the Board of Directors on March 14, 2022, the Company has retroactively applied that the total amount of shares of stock as of November 30, 2021, which the Company had authority to issue, was 150,000,000 shares of Class A common stock with a par value of $0.0001 per share, 20,000,000 shares of Class B common stock with a par value of $0.0001 per share, and 100,000 shares of preferred stock with a par value of $0.0001 per share. Holders of Class A common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and holders of Class B common stock are entitled, prior to the closing of the Company's initial public offering (the "IPO"), to one vote for each share held and, following the closing of an IPO, to 10 votes for each share held on all matters submitted to a vote of stockholders.

The holders of Class A common stock shall be entitled to receive dividends if, as and when declared by the board of directors out of the assets of the Company properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. The holders of Class B common stock do not have any right to receive any dividends or distributions declared by the board of directors, provided that certain dividends payable in additional shares of Class B common stock may be declared in certain situations in order to preserve the relative proportionality of the Class A common stock as compared to the Class B common stock.

Each share of Class B common stock is convertible at any time on or after the one-year anniversary of the IPO, at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, whether or not for value, except for certain permitted transfers further described in the Company's certificate of incorporation, including transfers to affiliates of the transferring holder.

All outstanding shares of Class B common stock will automatically convert into one share of Class A common stock upon the earliest to occur of the following events: (1) a date or time specified by the vote or written consent of the holders of at least a majority of the outstanding shares of Class B common stock, (2) any liquidation, dissolution, or winding up of the Company that is approved by the board of directors, and (3) the five-year anniversary of the date of the closing of the IPO.

*Corporate Domicile*

On April 5, 2022, the Company completed a statutory conversion to change the Company's corporate domicile from Arizona to Delaware, which conversion also entailed the replacement of the Company's Series A common stock and Series B common stock with Class A common stock and Class B common stock of the post-conversion Delaware corporation (with each outstanding share of Series A common stock at the time of conversion being converted into one share of Class A common stock of the Delaware corporation, and each outstanding share of Series B common stock at the time of conversion being converted into one share of Class B common stock of the Delaware corporation) and the adoption of new rights, preferences and privileges of such Class A common stock and Class B common stock.

*2017 Incentive Compensation Plan*

The Company has reserved a total of 9,346,086 shares of Class A common stock under its 2017 Incentive Compensation Plan (the "Plan"), which was amended and restated on March 15, 2022. The Plan authorizes the grant of nonqualified stock options and incentive stock options to Eligible Persons as defined in the Plan. The exercise of an option permits the option holder to purchase Class A common stock from the Company at a specified exercise price per share. The per share exercise price of all options granted under the Plan may not be less than the fair market value of a share of Class A common stock on the date of grant. The Plan provides that the term during which options may be exercised is determined by the Company's compensation committee, except that no option may be exercised more than 10 years after its grant date.

*Class B Common Stock Exchange Offer*

On March 15, 2022, the Company made an offer to all holders of Class B common stock (other than certain executives), to exchange all or a portion of their shares of Class B common stock for shares of Class A common stock on a one-for-one basis (the "Exchange Offer"). Pursuant to the Exchange Offer, an aggregate of 4,611,767 shares of Class B common stock was exchanged for 4,611,767 shares of Class A common stock. In connection with the Exchange Offer, the Company recognized approximately $1.48 million of incremental value as compensation cost for the nine months ended August 31, 2022.

 

*Warrant and Option Valuation*

The Company has computed the fair value of compensatory warrants and options granted using the Black-Scholes option pricing model. The expected term used for warrants and options issued to employees and directors is the estimated period of time that options granted are expected to be outstanding. The Company utilizes the "simplified" method to develop an estimate of the expected term of "plain vanilla" grants. The Company is utilizing an expected volatility figure based on a review of the historical volatilities, over a period of time, equivalent to the expected life of the instrument being valued, of similarly positioned public companies within its industry. The risk-free interest rate was determined from the implied yields from U.S. Treasury zero-coupon bonds with a remaining term consistent with the expected term of the instrument being valued. Included in stock-based compensation expense of $574,937 and $459,498 for the nine months ended August 31, 2021 and 2022, respectively, was $574,937 and $448,700 related to employees and directors, respectively.

*Option Activity and Summary*

A summary of the option activity during the nine months ended August 31, 2022, is presented below:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |<br><br>**Number of**<br>**Options** |<br>**Weighted**<br>**Average**<br>**Exercise**<br>**Price** | **Weighted**<br>**Average**<br>**Remaining**<br>**Life**<br>**In Years** |<br>**Aggregate**<br>**Intrinsic**<br>**Value** |
| Outstanding, December 1, 2021 | 7521710 | $0.27 | 5.05 | $1744892 |
| Granted | 750000 | 0.50 |  |  |
| Exercised |  |  |  |  |
| Expired/Cancelled | (825000) | 0.23 |  |  |
| Outstanding, August 31, 2022 | 7446710 | $0.34 | 4.94 | $1520642 |
| Vested and exercisable, August 31, 2022 | 5509210 | $0.26 |  | $1334808 |

---

The weighted average fair value of the options granted during the nine months ended August 31, 2022 was $0.34, based on the Black-Scholes option pricing model using the following assumptions:

---

| | |
|:---|:---|
|  | **2022** |
| Expected volatility | 82.84% |
| Expected term | 5.75 year |
| Range of risk-free interest rate | 1.15% -1.85 |
| Dividend yield |  |

---

*Warrant Activity and Summary*

The warrants awards for the purchase of Class A common stock were granted to certain directors and employees for compensation. A summary of the compensatory warrants activity during the nine months ended August 31, 2022 is presented below:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |<br><br>**Number of**<br>**Warrants** |<br>**Weighted**<br>**Average**<br>**Exercise**<br>**Price** | **Weighted**<br>**Average**<br>**Remaining**<br>**Life**<br>**In Years** |<br>**Aggregate**<br>**Intrinsic**<br>**Value** |
| Outstanding and exercisable, December 1, 2021 | 7873614 | $0.26 | 3.93 | $1927283 |
| Granted | 93334 | 0.50 |  |  |
| Exercised |  |  |  |  |
| Expired/Cancelled | (250000) | 0.13 |  |  |
| Outstanding and Exercisable, August 31, 2022 | 7716948 | 0.26 | 2.30 | $1834783 |

---

The weighted average fair value of the above warrants granted during nine months ended August 31, 2022 was $0.27, based on a Black Scholes option pricing model using the following assumptions:

---

| | |
|:---|:---|
|  | **2022** |
| Expected volatility | 82.8% |
| Expected term | 3 years |
| Range of risk-free interest rate | 0.97% -1.39 |
| Dividend yield |  |

---

In addition to the compensatory warrants awards granted to directors and employees above, the Company has issued warrants in various private placements and in exchange for services provided by non-employees. As of August 31, 2022 and November 30, 2021, there were 11,675,951 and 13,492,617, respectively, total warrants outstanding and exercisable, each exercisable for one share of Class A common stock at an exercise price ranging from $0.13 to $0.50. As of August 31, 2022, the weighted average remaining contractual term is 3.29 years.

**NOTE 10 – INCOME TAXES**

The Company did not provide for income taxes during the nine months ended August 31, 2022 because it has projected a net loss for the full year 2022 for which any benefit will be offset by an increase in the valuation allowance. There was also no provision for income taxes for the nine months ended August 31, 2021.

**NOTE 11 – RELATED PARTIES**

In June 2021 and October 2020, the Company advanced noninterest-bearing loans in the aggregate principal amount of $87,000 and $139,000, respectively, to the Company's Chief Executive Officer and Chairman of the Board (the "CEO"). The funds were used by the CEO for the exercise of certain warrants previously issued by the Company to the CEO. The loans were forgiven in their entirety by the Company in February 2022 effective as of the date first made. The CEO is a principal owner with more than 10 percent of the voting interests of the Company. Accordingly, the forgiveness of the loans was treated as capital transactions and recorded as a reduction in shareholders' deficit.

In June 2020, the Company advanced noninterest-bearing loans in the aggregate principal amount of $7,010, to a member of the Company's board of directors (the "Director"). The funds were used by the Director for the exercise of certain warrants previously issued by the Company to him. The loans were forgiven in their entirety by the Company in February 2022 effective as of the date first made.

**NOTE 12 – SUBSEQUENT EVENTS**

On September 26, 2022, the Company entered into a new set of loan documents (the "September 2022 Bridge Loan Documents") pursuant to which the Company issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1,050,000, and warrants to purchase Class A common stock (the "September 2022 Bridge Warrants") issued automatically upon the purchase of such notes. The bridge notes issued under the September 2022 Bridge Loan Documents (the "September 2022 Bridge Notes") have an annual interest rate of 10% and mature upon the closing of this offering or October 31, 2025, whichever occurs first. The Company may also elect to prepay the September 2022 Bridge Notes at any time without penalty or premium. Each investor purchasing September 2022 Bridge Notes also received September 2022 Bridge Warrants to purchase a number of shares of Class A common stock (the "Bridge Warrant Shares") that is equal to the initial principal amount of such investor's September 2022 Bridge Note divided by $2.50. The September 2022 Bridge Warrants have an exercise price equal to the lower of $2.50 or 50% of the price of the Class A common stock in this offering and are exercisable at any time following the date of issuance for a period of five years from the date of issuance. In connection with the closing of this offering, the Company is also causing to be filed a registration statement covering the September 2022 Bridge Warrant Shares, provided that 50% of such September 2022 Bridge Warrant Shares shall be subject to a 6-month lock-up period commencing upon the closing of this offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares**

![](formdrsa_016.jpg)

**Class A Common Stock**

<u>__________________________</u>

**Prospectus**

<u>__________________________</u>

**Boustead Securities, LLC**

**[Alternate Page for Resale Prospectus]**

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

**SUBJECT TO COMPLETION, DATED JANUARY 13, 2023**

**RVeloCITY, Inc.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares of** 

**Class A Common Stock**

This prospectus relates to the resale of shares of Class A common stock, par value $0.0001 per share, of RVeloCITY, Inc. that may be sold from time to time by the selling stockholders named in this prospectus, which includes:

● shares of Class A common stock issued to the selling stockholders;

● shares of Class A common stock issuable upon the exercise of warrant issuable to the representative of the underwriters upon the closing of the IPO (the "Underwriter Warrants"); and

● shares of Class A common stock issuable upon the exercise of Bridge Warrants issued to the selling stockholders.

We will not receive any proceeds from the sales of outstanding Class A common stock by the selling stockholders or the cashless exercise of the Underwriter Warrants held by the representative of the underwriters, but we will receive funds from the exercise of the Bridge Warrants held by the selling stockholders.

Currently, no public market exists for our Class A common stock. We have applied to list our Class A common stock on the Nasdaq Capital Market, or Nasdaq, under the symbol "RVGO". There can be no assurance that we will be able to meet Nasdaq's initial listing requirements or that we will otherwise be approved for listing.

We are an "emerging growth company," as that term is used in the Jumpstart Our Business Startups Act of 2012, and as such, have elected to comply with certain reduced public company reporting requirements for this prospectus and future filings. See "Prospectus Summary — Implications of Being an Emerging Growth Company."

Any shares sold by the selling stockholders until our Class A common stock is listed or quoted on an established public trading market will take place at $, which is the public offering price of the shares of Class A common stock we are selling in our initial public offering. Thereafter, these sales will occur at market prices prevailing at the time of sale or at privately negotiated prices. The selling stockholders may sell shares to or through underwriters, broker-dealers or agents, who may receive compensation in the form of discounts, concessions or commissions from the selling stockholders, the purchasers of the shares, or both. Any participating broker-dealers and any selling stockholders who are affiliates of broker-dealers may be deemed to be "underwriters" within the meaning of the Securities Act of 1933, as amended, and any commissions or discounts given to any such broker-dealer or affiliates of a broker-dealer may be regarded as underwriting commissions or discounts under the Securities Act of 1933, as amended. The selling stockholders have informed us that they do not have any agreement or understanding, directly or indirectly, with any person to distribute their Class A common stock. See "Plan of Distribution" for a more complete description of the ways in which the shares may be sold.

**Investing in our securities is highly speculative and involves a significant degree of risk. See "*Risk Factors*" beginning on page 14 of this prospectus for a discussion of information that should be considered before making a decision to purchase our securities.**

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

The date of this prospectus is , 2023.

**T**HE **O**FFERING

**USE OF PROCEEDS**

We will not receive any proceeds from the sale of Class A common stock by the selling stockholders or the cashless exercise of the Underwriter Warrants. We may, however, receive up to $ from the exercise of the Bridge Warrants held by the selling stockholders.

We have no specific plan for such proceeds except to generate funds for working capital and general corporate purposes. We will have broad discretion in the way that we use these proceeds.

The selling stockholders will pay any underwriting discounts and commissions and expenses incurred by them for brokerage, accounting, tax or legal services or any other expenses incurred by them in disposing of the shares. We will bear all other costs, fees and expenses incurred in effecting the registration of the shares covered by this prospectus, including, without limitation, all registration and filing fees and fees and expenses of our counsel and our accountants.

**SELLING STOCKHOLDERS**

The Class A common stock being offered by the selling stockholders are those issued to or issuable to the selling stockholders upon the exercise of the Underwriter Warrants and Bridge Warrants held by the selling stockholders.

Pursuant to the engagement letter agreement with our underwriters Boustead Securities, LLC, we have agreed to issue to the representative of the underwriters a warrant to purchase a number of shares of common stock equal to an aggregate of 7% of the aggregate number of the shares sold in this offering. Such Underwriter Warrant will be exercisable on a cashless basis at an exercise price equal to 100% of the offering price of the shares sold in this offering. The Underwriter Warrant is exercisable at any time, and from time to time, commencing from the closing of the offering and expiring five (5) years thereafter. The Underwriter Warrant also provides for customary anti-dilution provisions and immediate piggyback registration rights with respect to the shares underlying the Underwriter Warrant. The Underwriter Warrant are not redeemable by us. The Underwriter Warrant and the shares of common stock issuable upon exercise of the Underwriter Warrant have been included on the registration statement of which this prospectus forms a part. Pursuant to applicable FINRA rules, and in particular Rule 5110, the Underwriter Warrant (and underlying shares) issued to the underwriters may not be sold, transferred, assigned, pledged, or hypothecated, or the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective disposition of the securities by any person for a period of 180 days after the effective date of the registration statement related to this offering; provided, however, that the Underwriter Warrant (and underlying shares) may be transferred to the underwriters' officers, partners, registered persons or affiliates as long as the Underwriter Warrant (and underlying shares) remain subject to the lockup.

Between May 18, 2022 and July 8, 2022, we entered into certain loan documents (the "May 2022 Bridge Loan Documents") pursuant to which we issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1.8 million and warrants to purchase Class A common stock (the "Bridge Warrants") issued automatically upon the purchase of such notes. On September 23, 2022, we entered into a new set of loan documents (the "September 2022 Bridge Loan Documents") pursuant to which we issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1,050,000 (collectively under both the May 2022 Bridge Loan Documents and the September 2022 Bridge Loan Documents, the "Bridge Notes"), and Bridge Warrants issued automatically upon the purchase of such notes. The Bridge Notes issued under the May 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or June 30, 2023, whichever occurs first. The Bridge Notes issued under the September 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or October 31, 2025, whichever occurs first. The Company may also elect to prepay the Bridge Notes at any time without penalty or premium. Each investor purchasing Bridge Notes also received Bridge Warrants to purchase a number of shares of Class A common stock (the "Bridge Warrant Shares") that is equal to the initial principal amount of such investor's Bridge Note divided by $2.50. The Bridge Warrants have an exercise price equal to the lower of $2.50 or 50% of the price of the Class A common stock in this offering and are exercisable at any time following the date of issuance for a period of five years from the date of issuance. In connection with the closing of this offering, the Company is also causing to be filed a registration statement covering the Bridge Warrant Shares, provided that 50% of such Bridge Warrant Shares shall be subject to a 6-month lock-up period commencing upon the closing of this offering.

For additional information regarding the issuances of those securities, see *Liquidity and Capital Resources – Bridge Loans* and *Discounts and Commissions; Expenses* above*.* We are registering the shares of Class A common stock in order to permit the selling stockholders to offer the shares for resale from time to time. Except (i) for the ownership of these securities, including certain of the selling stockholders, specifically, Todd Baszucki being the holder of $1,000,000 the Convertible Notes and $1,500,000 of the Bridge Notes and SAKPE Holdings, LLC being the holder of $250,000 of the Bridge Notes and except for Boustead Securities, LLC acting as our underwriters, the selling stockholders have not had any material relationship with us within the past three years. Based on the information provided to us by the selling stockholders, other than Boustead Securities, LLC, no selling stockholder is a broker-dealer or an affiliate of a broker-dealer.

The table below lists the selling stockholders and other information regarding the beneficial ownership of the shares of Class A common stock by each of the selling stockholders. The second column lists the number of shares of Class A common stock beneficially owned by each selling stockholder, based on its ownership of the Underwriter Warrants and Bridge Warrants as of , 2023, assuming the exercise of the Underwriter Warrants and the Bridge Warrants held by the selling stockholders on that date, without regard to any limitations on exercises.

The third column lists the shares of Class A common stock being offered by this prospectus by the selling stockholders.

In accordance with the terms of a registration rights agreement with the selling stockholders, this prospectus generally covers the resale of the sum of the maximum number of shares of Class A common stock issuable upon the exercise of all Underwriter Warrants and Bridge Warrants held by the selling stockholders, each as of the trading day immediately preceding the date of this prospectus and all subject to adjustment as provided in the registration right agreement, without regard to any limitations on the exercise of these securities. The fourth column assumes the sale of all of the shares offered by the selling stockholders pursuant to this prospectus.

The selling stockholders may sell all, some or none of their shares in this offering. See "*Plan of Distribution*."

---

| | | | |
|:---|:---|:---|:---|
| **Name of Selling Stockholder** | **Class A Common Stock Beneficially Owned Prior to this Offering** | **Number of Shares Offered** | **Class A Common Stock Beneficially Owned After this Offering** |
| Todd Baszucki |  |  |  |
| SAKPE Holdings, LLC (1) |  |  |  |
| Boustead Securities, LLC |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) SAKPE Holdings, LLC is controlled by Scott Connell.

**PLAN OF DISTRIBUTION**

Each selling stockholder and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their securities covered hereby on any stock exchange, market or trading facility on which the securities are traded or in private transactions. Any shares sold by the selling stockholders until our Class A common stock is listed or quoted on an established public trading market will take place at $, which is the public offering price of the shares of Class A common stock we are selling in our initial public offering. Thereafter, these sales will occur at market prices prevailing at the time of sale or at privately negotiated prices. A selling stockholder may use any one or more of the following methods when selling securities:

● ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

● block trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion of the block as principal to facilitate the transaction;

● purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

● an exchange distribution in accordance with the rules of the applicable exchange;

● privately negotiated transactions;

● settlement of short sales;

● in transactions through broker-dealers that agree with the selling stockholders to sell a specified number of such securities at a stipulated price per security;

● through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

● a combination of any such methods of sale; or

● any other method permitted pursuant to applicable law.

The selling stockholders may also sell securities under Rule 144 or any other exemption from registration under the Securities Act, if available, rather than under this prospectus.

Broker-dealers engaged by the selling stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated, but, except as set forth in a supplement to this prospectus, in the case of an agency transaction not in excess of a customary brokerage commission in compliance with FINRA Rule 2121; and in the case of a principal transaction a markup or markdown in compliance with FINRA Rule 2121.

In connection with the sale of the securities or interests therein, the selling stockholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they assume. The selling stockholders may also sell securities short and deliver these securities to close out their short positions, or loan or pledge the securities to broker- dealers that in turn may sell these securities. The selling stockholders may also enter into option or other transactions with broker-dealers or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

The selling stockholders and any broker-dealers or agents that are involved in selling the securities may be deemed to be "underwriters" within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Each selling stockholder has informed us that it does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute the securities.

We are required to pay certain fees and expenses incurred by us incident to the registration of the securities. We have agreed to indemnify the selling stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.

We agreed to keep this prospectus effective until the earlier of (i) the date on which the securities may be resold by the selling stockholders without registration and without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for us to be in compliance with the current public information under Rule 144 under the Securities Act or any other rule of similar effect or (ii) all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar effect. The resale securities will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in certain states, the resale securities covered hereby may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with.

Under applicable rules and regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution. In addition, the selling stockholders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the common stock by the selling stockholders or any other person. We will make copies of this prospectus available to the selling stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

**Lock-Up Agreement**

Our executive officers, directors and certain of our significant stockholders have also agreed to a 12-month "lock-up," with the following exceptions [_______] and provided that after the initial six months following the date of this offering, stockholders subject to the lock-up will have limited ability to resell shares subject to [_______] limitations. During the lock-up period, without the prior written consent of Boustead Securities, LLC, such stockholders shall not, directly or indirectly, (i) offer, pledge, assign, encumber, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, any shares of common stock or any securities convertible into or exercisable or exchangeable for common stock, owned either of record or beneficially (as defined in the Securities Exchange Act of 1934, as amended (the "Exchange Act") by any signatory of the lock-up agreement on the date of the prospectus or thereafter acquired; (ii) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the common stock or any securities convertible into or exercisable or exchangeable for common stock, whether any such transaction described in clauses (i) or (ii) above is to be settled by delivery of common stock or such other securities, in cash or otherwise, or publicly announce an intention to do any of the foregoing; and (iii) make any demand for or exercise any right with respect to, the registration of any shares of common stock or any security convertible into or exercisable or exchangeable for common stock. The foregoing shall not apply to (i) common stock to be transferred as a gift or gifts (*provided*, that (a) any donee shall execute and deliver to Boustead Securities, LLC, acting on behalf of the underwriters, not later than one business day prior to such transfer, a lock-up agreement to Boustead Securities, LLC and (b) if the lock-up signatory is required to file a report under Section 16(a) of the Exchange Act, reporting a reduction in beneficial ownership of shares of common stock or beneficially owned shares or any securities convertible into or exercisable or exchangeable for common stock or beneficially owned shares during the 12-month "lock-up," the lock-up signatory shall include a statement in such report to the effect that such transfer is being made as a gift), and (ii) the sale of the shares of common stock to be sold pursuant to this prospectus*.*

Rules of the SEC may limit the ability of the underwriters to bid for or purchase shares of our common stock before the distribution of the shares is completed. However, the underwriters may engage in the following activities in accordance with the rules:

● Stabilizing transactions - the representative may make bids or purchases for the purpose of pegging, fixing or maintaining the price of the common stock, so long as stabilizing bids do not exceed a specified maximum.

● Penalty bids - if the representative purchases shares of common stock in the open market in a stabilizing transaction or syndicate covering transaction, it may reclaim a selling concession from the underwriters and selling group members who sold those shares of common stock as part of this offering.

● Passive market making - market makers in the common stock who are underwriters or prospective underwriters may make bids for or purchases of shares of common stock, subject to limitations, until the time, if ever, at which a stabilizing bid is made.

Similar to other purchase transactions, the underwriters' purchases to cover the syndicate short sales or to stabilize the market price of our common stock may have the effect of raising or maintaining the market price of our common stock or preventing or mitigating a decline in the market price of our common stock. As a result, the price of our common stock may be higher than the price that might otherwise exist in the open market. The imposition of a penalty bid might also have an effect on the price of the common stock if it discourages resales of our shares of common stock.

Neither we nor the underwriters make any representation or prediction as to the effect that the transactions described above may have on the price of our common stock. These transactions may occur on the Nasdaq Capital Market or otherwise. If such transactions are commenced, they may be discontinued without notice at any time.

**LEGAL MATTERS**

The validity of the common stock covered by this prospectus will be passed upon by Snell & Wilmer L.L.P., Los Angeles, California.

**RVeloCITY, Inc.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Shares of Class A**

**Common Stock**

**Prospectus**

**Boustead Securities, LLC**

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 13. Other Expenses of Issuance and Distribution**

The following table sets forth all expenses to be paid by us, other than underwriting discounts and commissions, in connection with this offering. All amounts shown are estimates except for the SEC registration fee, the Financial Industry Regulatory Authority, Inc., or FINRA, filing fee and The Nasdaq Capital Market listing fee.

---

| | |
|:---|:---|
|  | **Amount** |
| SEC registration fee | $[______] |
| FINRA filing fee | 2750 |
| Nasdaq Capital Market listing fee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\* |
| Printing expenses | \* |
| Accounting fees and expenses | \* |
| Legal fees and expenses | \* |
| Transfer agent and registrar fees | \* |
| Miscellaneous fees | \* |
| Total | $\* |

---

\* To be completed by amendment

**Item 14. Indemnification of Directors and Officers**

Our bylaws provide that we must indemnify and advance expenses to our directors and officers to the fullest extent authorized by the Delaware General Corporation Law. Our bylaws also authorize the directors to cause the company to purchase and maintain directors' and officers' liability insurance providing indemnification for our directors, officers, employees and agents for some liabilities. We believe that these indemnification and advancement provisions and insurance are useful to attract and retain qualified directors and officers.

The indemnification and advancement provisions included in our bylaws may discourage shareholders from bringing a lawsuit against our directors for breaches of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against our directors and officers, even though such an action, if successful, might otherwise benefit us and our shareholders. In addition, your investment may be adversely affected to the extent we pay the costs of settlement and damage awards against our directors and officers pursuant to these indemnification provisions.

**Item 15. Recent Sales of Unregistered Securities**

Between January 8, 2022 and February 28, 2022, we entered into, issued, and sold convertible promissory notes to certain investors for the principal amount of $1.755 million (the "Convertible Notes"). The Convertible Notes have an annual interest rate of 6%, and mature after three years. Upon the closing of this offering, the outstanding principal and accrued interest under the Convertible Notes will automatically (and without any action on the part of the note holders) be converted into shares of our Class A common stock at a conversion price equal to 60% of the initial public offering price of our Class A common stock (the "Conversion Price"). The Convertible Notes will also automatically convert if, prior to the maturity date of such notes and prior to the closing of this offering, the Company undergoes a change of control, reverse merger, or merger with a SPAC, at a conversion price equal to 60% of the aggregate consideration in any such transaction, divided by the total number of outstanding shares of the acquiror resulting from such transaction. The outstanding principal and accrued interest under the Convertible Notes may also be converted at any time at the option of each note holder into our Class A common stock at a price equal to the price per share determined by dividing $50 million by the total number of outstanding shares of Class A common stock and Class B common stock. In the event neither this offering nor any other liquidity event is consummated within twelve months of the issue date of the Convertible Notes, we may elect either to (a) repay the Convertible Notes in whole or in part (subject to the conversion rights of the note holders), or (b) if we do not repay the Convertible Notes, the unpaid principal amount of the Convertible Notes will automatically increase to 110% of the outstanding principal amount. We may also elect to prepay the Convertible Note at any time after March 31, 2022 upon 20 business days' prior written notice to the note holders. The securities were sold in reliance upon the exemption from the registration requirements of the Securities Act set forth in Section 4(a)(2) of the Securities Act and Rule 506(b) promulgated thereunder.

On January 21, 2022 and February 24, 2022, in connection with the Convertible Notes offerings, we issued certain warrants to purchase our Class A common stock to Boustead Securities, LLC, as placement agent (the "Boustead Convertible Note Warrants"). Pursuant to the Boustead Convertible Note Warrants, Boustead Securities, LLC may purchase such number of shares of our Class A common stock (subject to adjustment) equal to 7% of the number of shares of Class A common stock into which the Convertible Notes convert into pursuant to their terms at an exercise price equal to the Conversion Price. The Boustead Convertible Note Warrants expire five years from their respective date of issuance. The securities were sold in reliance upon the exemption from the registration requirements of the Securities Act set forth in Section 4(a)(2) of the Securities Act.

Between March 2021 and October 2021, in our Series A equity round, we sold 5,914,500 shares of our Series A common stock of our pre-conversion Arizona corporation to certain investors in an unregistered private placement offering, at a price per share equal to $0.40 per share for the first tranche and $0.50 per share for the balance, for an aggregate purchase price of approximately $2.781 million. The securities were sold in reliance upon the exemption from the registration requirements of the Securities Act set forth in Section 4(a)(2) of the Securities Act and Rule 506(b) promulgated thereunder.

Between March 2020 and February 2021 in our Step equity round, we sold 6,644,122 shares of our Series A common stock of our pre-conversion Arizona corporation to certain investors in an unregistered private placement offering, at a price per share equal to $0.30 per share, for an aggregate purchase price of approximately $1.988 million. The securities were sold in reliance upon the exemption from the registration requirements of the Securities Act set forth in Section 4(a)(2) of the Securities Act and Rule 506(b) promulgated thereunder.

Between March 2019 and July 2019 in our Seed equity round, we sold 7,212,152 shares of our Series A common stock of our pre-conversion Arizona corporation to certain investors in an unregistered private placement offering, at a price per share equal to $0.25 per share, for an aggregate purchase price of approximately $1.803 million. The securities were sold in reliance upon the exemption from the registration requirements of the Securities Act set forth in Section 4(a)(2) of the Securities Act and Rule 506(b) promulgated thereunder.

Between May 18, 2022 and July 8, 2022, we entered into certain loan documents (the "May 2022 Bridge Loan Documents") pursuant to which we issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1.8 million and warrants to purchase Class A common stock (the "Bridge Warrants") issued automatically upon the purchase of such notes. On September 23, 2022, we entered into a new set of loan documents (the "September 2022 Bridge Loan Documents") pursuant to which we issued and sold units to certain investors consisting of unsecured promissory notes in the aggregate principal amount of $1,050,000 (collectively under both the May 2022 Bridge Loan Documents and the September 2022 Bridge Loan Documents, the "Bridge Notes"), and Bridge Warrants issued automatically upon the purchase of such notes. The Bridge Notes issued under the May 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or June 30, 2023, whichever occurs first. The Bridge Notes issued under the September 2022 Bridge Loan Documents have an annual interest rate of 10% and mature upon the closing of this offering or October 31, 2025, whichever occurs first. The Company may also elect to prepay the Bridge Notes at any time without penalty or premium. Each investor purchasing Bridge Notes also received Bridge Warrants to purchase a number of shares of Class A common stock (the "Bridge Warrant Shares") that is equal to the initial principal amount of such investor's Bridge Note divided by $2.50. The Bridge Warrants have an exercise price equal to the lower of $2.50 or 50% of the price of the Class A common stock in this offering and are exercisable at any time following the date of issuance for a period of five years from the date of issuance. In connection with the closing of this offering, the Company is also causing to be filed a registration statement covering the Bridge Warrant Shares, provided that 50% of such Bridge Warrant Shares shall be subject to a 6-month lock-up period commencing upon the closing of this offering. The Bridge Notes, Bridge Warrants and Bridge Warrant Shares were sold in reliance upon the exemption from the registration requirements of the Securities Act set forth in Section 4(a)(2) of the Securities Act and Rule 506(b) promulgated thereunder.

**Item 16. *Exhibits and Financial Statement Schedules***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Exhibits*

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| | | |
|:---|:---|:---|
| **Exhibit Number** | **Description of Exhibit** | **Method of Filing** |
| 1.1 | Form of Underwriting Agreement | To be filed by amendment |
| 3.1 | [Certificate of incorporation of RVeloCITY, Inc., as currently in effect](ex3-1.htm) | Filed herewith |
| 3.2 | [Bylaws of RVeloCITY, Inc., as currently in effect](ex3-2.htm) | Filed herewith |
| 4.1 | [Form of Class A common stock Certificate](ex4-1.htm) | Filed herewith |
| 5.1 | Opinion of Snell & Wilmer L.L.P. | To be filed by amendment |
| 10.1+ | [RVeloCITY, Inc. Amended and Restated Omnibus Incentive Compensation Plan](ex10-1.htm) | Filed herewith |
| 10.2+ | [Amended and Restated Employment Agreement, dated December 1, 2021, between RVeloCITY, Inc. and Paul Kacir](ex10-2.htm) | Filed herewith |
| 10.3+ | [Amended and Restated Employment Agreement, dated December 1, 2021, between RVeloCITY, Inc. and Bryan Kleinlein](ex10-3.htm) | Filed herewith |
| 10.4+ | [Form of Warrant Agreement Related to Equity Grants](ex10-4.htm) | Filed herewith |
| 10.5 | [Form of Subscription Agreement for 2021 Series A Common Stock Offering](ex10-5.htm) | Filed herewith |
| 10.6 | [Form of Subscription Agreement for January 2022 Convertible Note Offering](ex10-6.htm) | Filed herewith |
| 10.7 | [Form of Convertible Note for January 2022 Convertible Note Offering](ex10-7.htm) | Filed herewith |
| 10.8 | [Warrant to purchase Company Class A common stock issued on January 21, 2022 to Boustead Securities, LLC in connection with Convertible Notes Offering](ex10-8.htm) | Filed herewith |
| 10.9 | [Warrant to purchase Company Class A common stock issued on February 24, 2022 to Boustead Securities, LLC in connection with Convertible Notes Offering](ex10-9.htm) | Filed herewith |
| 10.10 | [Form of Exchange Agreement for March 2022 Series B Common Stock Exchange Offer](ex10-10.htm) | Filed herewith |
| 10.11 | [Form of Subscription Agreement for May 2022 Bridge Loan](ex10-11.htm) | Filed herewith |
| 10.12 | [Form of Promissory Note for May 2022 Bridge Loan](ex10-12.htm) | Filed herewith |
| 10.13 | [Form of Common Stock Warrant for May 2022 Bridge Loan](ex10-13.htm) | Filed herewith |
| 10.14 | [Form of Subscription Agreement for September 2022 Bridge Loan](ex10-14.htm) | Filed herewith |
| 10.15 | [Form of Promissory Note for September 2022 Bridge Loan](ex10-15.htm) | Filed herewith |
| 10.16 | [Form of Common Stock Warrant for September 2022 Bridge Loan](ex10-16.htm) | Filed herewith |
| 10.17 | Form of Common Stock Warrant for Boustead Securities | To be filed by amendment |
| 21.1 | [Subsidiaries of the Registrant](ex21-1.htm) | Filed herewith |
| 23.1 | [Consent of Semple, Marchal & Cooper, LLP, Independent Registered Public Accounting Firm](ex23-1.htm) | Filed herewith |
| 23.2 | Consent of Snell & Wilmer L.L.P. | Contained in Exhibit 5.1 |
| 24.1 | [Power of Attorney](#a_001) | See signature page |
| 107 | [Filing Fee Table](ex107.htm) | Filed herewith |

---

+ Indicates management contract or compensatory plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Financial statement schedules*

 

Schedules not listed above have been omitted because the information required to be set forth therein is not applicable or is shown in the financial statements or notes thereto.

**Item 17. Undertakings**

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. If a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Phoenix, Arizona, on January 13, 2023.

---

| | |
|:---|:---|
| RVeloCITY, Inc. | RVeloCITY, Inc. |
| By: | */s/ Paul Kacir* |
|  | Paul Kacir |
|  | Chief Executive Officer |

---

**POWER OF ATTORNEY**

**KNOW ALL PERSONS BY THESE PRESENTS**, that each person whose signature appears below constitutes and appoints Paul Kacir and Bryan Kleinlein, and each one of them, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to sign any registration statement for the same offering covered by this registration statement that is to be effective on filing pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and all post-effective amendments thereto, and to file the same, with all exhibits thereto and other documents in connection therewith, with the U.S. Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | | |
|:---|:---|:---|:---|
| **Signature** | **Signature** | **Title** | **Date** |
| By: | */s/ Paul Kacir* | Chief Executive Officer and Chairman of the Board of Directors | January 13, 2023 |
|  | Paul Kacir | (Principal Executive Officer) |  |
| By: | */s/ Bryan Kleinlein* | Chief Financial Officer | January 13, 2023 |
|  | Bryan Kleinlein | (Principal Financial Officer and Principal Accounting Officer) |  |
| By: | */s/ Gerald F. Hayden Jr.* | Director and Secretary | January 13, 2023 |
|  | Gerald F. Hayden Jr. |  |  |

---

## Exhibit 3.1

**Exhibit 3.1**

**CERTIFICATE OF INCORPORATION<br> OF RVELOCITY, INC.,**<br> a Delaware Corporation

RVeloCITY, Inc., a corporation organized and existing under the General Corporation Law of the State of Delaware, hereby certifies as follows:

**<u>ARTICLE I:</u>**

The name of the Corporation is RVeloCITY, Inc. (the "***Corporation***").

**<u>ARTICLE II:</u>**

The address of the registered office of the Corporation in the State of Delaware is c/o Incorporating Services, Ltd., 3500 South DuPont Highway, Dover, Kent County, Delaware 19901. The name of the registered agent at that address is Incorporating Services, Ltd.

**<u>ARTICLE III:</u>**

The purpose of the Corporation is to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of Delaware (the "***General Corporation Law***").

**<u>ARTICLE IV:</u>**

This Corporation is authorized to issue two classes of stock to be designated, respectively, Common Stock and Preferred Stock. The total number of shares of Common Stock authorized to be issued is 170,000,000, of which 150,000,000 shares are designated Class A Common Stock, par value $0.0001 per share (the "***Class A Common Stock***"), and 20,000,000 shares of which are designated Class B Common Stock, par value $0.0001 per share (the "***Class B Common Stock***"). The total number of shares of Preferred Stock authorized to be issued is 100,000 shares, par value $0.0001 per share.

**<u>ARTICLE V:</u>**

The rights, powers, preferences, privileges, restrictions and other matters relating to the Common Stock are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Definitions</u>. For purposes of this Certificate, the following definitions apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 "***Acquisition***" means (i) any consolidation or merger of the Corporation with or into any other corporation or other entity or person, or any other corporate reorganization, other than any such consolidation, merger or reorganization in which the shares of capital stock of the Corporation immediately prior to such consolidation, merger or reorganization continue to represent a majority of the voting power of the surviving entity (or, if the surviving entity is a wholly owned subsidiary, its Parent) immediately after such consolidation, merger or reorganization (provided that, for the purpose of this Section 1.1, all stock, options, warrants, purchase rights or other securities exercisable for or convertible into Common Stock outstanding immediately prior to such merger or consolidation shall be deemed to be outstanding immediately prior to such merger or consolidation and, if applicable, converted or exchanged in such merger or consolidation on the same terms as the actual outstanding shares of capital stock are converted or exchanged); or (ii) any transaction or series of related transactions to which the Corporation is a party in which shares of the Corporation are transferred such that in excess of fifty percent (50%) of the Corporation's voting power is transferred; provided that an Acquisition shall not include (x) an IPO, or (y) any transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the Corporation or any successor or indebtedness of the Corporation is cancelled or converted or a combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 "***Asset Transfer***" means a sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 "***Board***" means the Board of Directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 "***Certificate***" means this Certificate of Incorporation.

&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 "***IPO***" means any offering of Common Stock of the Corporation pursuant to a registration statement filed and made effective in accordance with the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 "***Liquidation Event***" means any liquidation, dissolution, or winding up of the Corporation, whether voluntary or involuntary, or any Acquisition or Asset Transfer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 "***Parent***" of an entity means any entity that, directly or indirectly, owns or controls a majority of the voting power of the voting securities of such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 "***Securities Exchange***" means the New York Stock Exchange, the Nasdaq Stock Market or any other U.S. stock exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Identical Rights</u>. Except as otherwise provided in this Certificate or required by the General Corporation Law, shares of Common Stock shall have the same rights and powers, rank equally, share ratably and be identical in all respects as to all matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Dividends</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Class A Common Stock</u>. The holders of the Class A Common Stock shall be entitled to receive dividends if, as and when declared by the Board out of the assets of the Corporation properly applicable to the payment of dividends in such amounts and payable in such manner as the Board may from time to time determine. Any dividends paid to the holders of shares of Class A Common Stock shall be paid pro rata, on an equal priority, *pari passu* basis. Subject to the rights of the holders of any other class of shares of the Corporation entitled to receive dividends in priority to or concurrently with the holders of the Class A Common Stock, the Board may in its sole discretion declare dividends on the Class A Common Stock to the exclusion of any other class of shares of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Class B Common Stock</u>. Except as provided in Section 3.3 of this ARTICLE V:, no dividends shall be declared or payable on the Class B Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Stock Dividends</u>. The Corporation shall not declare or pay any dividend or make any other distribution to the holders of Common Stock payable in securities of the Corporation unless the same dividend or distribution with the same record date and payment date shall be declared and paid on all shares of Common Stock; provided, however, that (i) dividends or other distributions payable in shares of Class A Common Stock or rights to acquire shares of Class A Common Stock may be declared and paid to the holders of Class A Common Stock without the same dividend or distribution being declared and paid to the holders of Class B Common Stock if, and only if, a dividend payable in shares of Class B Common Stock, or rights to acquire shares of Class B Common Stock, are declared and paid to the holders of Class B Common Stock at the same rate and with the same record date and payment date; and (ii) dividends or other distributions payable in shares of Class B Common Stock or rights to acquire shares of Class B Common Stock may be declared and paid to the holders of Class B Common Stock without the same dividend or distribution being declared and paid to the holders of Class A Common Stock if, and only if, a dividend payable in shares of Class A Common Stock, or rights to acquire shares of Class A Common Stock are declared and paid to the holders of Class A Common Stock at the same rate and with the same record date and payment date; and provided, further, that nothing in the foregoing shall prevent the Corporation from declaring and paying dividends or other distributions payable in shares of one class of Common Stock or rights to acquire one class of Common Stock to holders of all classes of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Voting Rights</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>Class A Common Stock</u>. Each holder of shares of Class A Common Stock shall be entitled to one (1) vote for each share thereof held as of the record date for the determination of the stockholders entitled to vote at a meeting of the Corporation's stockholders (or by written consent in lieu of a meeting of stockholders).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Class B Common Stock</u>. Each holder of shares of Class B Common Stock shall be entitled to one (1) vote for each share thereof held as of the record date for the determination of the stockholders entitled to vote at a meeting of the Corporation's stockholders (or by written consent in lieu of a meeting of stockholders); provided, however, that commencing immediately after the closing of an IPO, each holder of shares of Class B Common Stock shall be entitled to ten (10) votes for each share thereof held as of the record date for the determination of the stockholders entitled to vote at a meeting of the Corporation's stockholders (or by written consent in lieu of a meeting of stockholders).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>General</u>. Except as otherwise expressly provided herein or as required by the General Corporation Law, the holders of Class A Common Stock and Class B Common Stock shall vote together and not as separate series or classes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Authorized Shares</u>. The number of authorized shares of Common Stock may be increased or decreased (but not below the number of shares of Common Stock or, in the case of a class or series of Common Stock, such class or series, then outstanding) by the affirmative vote of the holders of a majority of the voting power of the Class A Common Stock and Class B Common Stock, voting together as a single class, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law; provided, that the number of authorized shares of Class B Common Stock shall not be increased or decreased without the affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a separate class. If the Corporation in any manner subdivides or combines the Class A Common Stock or subdivides or combines the Class B Common Stock, then the outstanding shares of all other classes of Common Stock shall be subdivided or combined in the same proportion and manner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Election of Directors</u>. Subject to any rights of the holders of any series of Preferred Stock to elect directors under specified circumstances, the holders of Class A Common Stock and Class B Common Stock, voting together as a single class, shall be entitled to elect and remove all directors of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Liquidation Rights</u>. In the event of a Liquidation Event, after the payment of all preferential amounts (if any) required to be paid to the holders of any outstanding shares of Preferred Stock pursuant to this Certificate, the remaining assets of the Corporation available for distribution to its stockholders shall be distributed solely among the holders of shares of Common Stock, pro rata based on the number of shares held by each such holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Preemptive Rights</u>. No stockholder of the Corporation shall have a right to purchase shares of capital stock of the Corporation sold or issued by the Corporation except to the extent that such a right may from time to time be set forth in a written agreement between the Corporation and a stockholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Conversion of Class B Common Stock</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Voluntary Conversion</u>. At any time and from time to time on or after the one (1)-year anniversary of any IPO, any holder of Class B Common Stock shall have the right, exercisable by written election delivered to the Corporation, to convert all or any portion of the outstanding shares of Class B Common Stock (including any fraction of a Share) held by such holder into an equal number of shares of Class A Common Stock (including any fraction of a share).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Automatic Conversion Upon Liquidation Event</u>. In connection with a Liquidation Event approved by the Board, all outstanding shares of Class B Common Stock (including any fraction of a share) shall automatically convert into an equal number of shares of Class A Common Stock (including any fraction of a share).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <u>Automatic Conversion Upon Transfer to Non-Affiliates</u>. Any share of Class B Common Stock shall automatically be converted into one (1) share of Class A Common Stock upon the transfer, assignment, sale or other disposition of such share by the holder (or any of its Affiliates) to which such share of Class B Common Stock was originally issued by the Corporation to a person that is not then an Affiliate of such original holder. For purposes of this Section 9.3, "***Affiliate***" shall mean, (i) in the case of a natural person or entity held solely by a natural person or the family or estate of such natural person, any spouse, grandchild or member of the immediate family (including adopted children) of such person, any custodian, trustee (including a trustee of a voting trust), executor or other fiduciary for the account of any spouse, grandchild or member of the immediate family (including adopted children) of such person or any trust for the benefit of such person; (ii) in the case of an institutional, private equity, hedge, venture capital or other private investment fund, any partner, limited partner, retired partner, member or retired member of such holder, any affiliated fund, any fund which is controlled by or under common control with one (1) or more general partners of such holder, any fund that is managed and governed by the same management company as such holder, any fund that controls such holder or any fund that is controlled by, under common control with, managed or advised by the same management company or registered investment advisor that controls, is under common control with, manages or advises the fund that controls such holder, (iii) in the case of a mutual fund, pension fund, other pooled investment vehicle or an institutional client, to another mutual fund, pension fund, other pooled investment vehicle or an institutional client in connection with a merger, fund reorganization or otherwise for regulatory or fund management purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <u>Other Automatic Conversion</u>. Upon the earlier of (i) the date and time, or the occurrence of an event, specified by vote or written consent of the holders of at least a majority of the outstanding shares of Class B Common Stock at the time of such vote or consent, voting as a separate class, and (ii) the five (5)-year anniversary of the consummation of an IPO (the earlier such date being the "***Class B Mandatory Conversion Time***"), each outstanding share of Class B Common Stock shall automatically convert into one (1) share of Class A Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 <u>Mechanics of Conversion</u>. Before any holder of Class B Common Stock shall be entitled voluntarily to convert the same into shares of Class A Common Stock pursuant to Section 9.1, or upon the occurrence of an automatic conversion of the Class B Common Stock as provided in Sections 9.2 through 9.4, such holder shall surrender the certificate or certificates therefor, duly endorsed, at the office of the Corporation or of any transfer agent for the Class B Common stock, and shall, in the event of a voluntary conversion pursuant to Section 9.1, give written notice to the Corporation at such office that such holder elects to convert the same. The Corporation shall, as soon as practicable thereafter, issue and deliver at such office to such holder a certificate or certificates for the number of shares of Class A Common Stock to which such holder shall be entitled as aforesaid. In the event of a voluntary conversion pursuant to Section 9.1, such conversion shall be deemed to have been made immediately prior to the close of business on the date of surrender of certificate(s) representing the shares of Class B Common Stock to be converted, and the person or persons entitled to receive the shares of Class A Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Class A Common Stock on such date. If the conversion of Class B Common Stock into Class A Common Stock is an automatic conversion pursuant to any of Sections 9.2 through 9.4, such conversion shall be deemed to have been made, (i) in the case of Section 9.2, as of immediately prior to the effectiveness of the applicable Liquidation Event, in the case of Section 9.3, as of the effective date of transfer of the subject shares of Class B Common Stock, and (iii) in the case of Section 9.4, as of the Class B Mandatory Conversion Time; and the person or persons entitled to receive shares of Class A Common Stock issuable upon such conversion shall be treated for all purposes as the record holders of such shares of Class A Common Stock as of the applicable date or time. Such converted Class B Common Stock shall be retired and cancelled and may not be reissued as shares of such class, and the Corporation may thereafter take such appropriate action (without the need for stockholder action) as may be necessary to reduce the authorized number of shares of Class B Common Stock accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Class B Protective Provisions</u>. The Corporation shall not, without the prior affirmative vote (either at a meeting or by written election) of the holders sixty-six and two-thirds percent (66-2/3%) of the outstanding shares of Class B Common Stock, voting as a separate class, in addition to any other vote required by the General Corporation Law or this Certificate, directly or indirectly, whether by amendment, or through merger, recapitalization, consolidation or otherwise, amend or repeal, or adopt any provision of this Certificate inconsistent with, or otherwise alter, any provision of this Certificate that modifies the voting, par value, rights, powers, preferences, special rights, privileges or restrictions of the Class B Common Stock.

**<u>ARTICLE VI:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Rights of Preferred Stock</u>. The Board is authorized, subject to any limitations prescribed by the General Corporation Law, to provide for the issuance of shares of Preferred Stock in series, and by filing a certificate pursuant to the General Corporation Law (such certificate being hereinafter referred to as a "***Preferred Stock Designation***"), to establish from time to time the number of shares to be included in each such series, and to fix the designation, powers, preferences, and rights of the shares of each such series and any qualifications, limitations or restrictions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Vote to Increase or Decrease Authorized Shares</u>. The number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of all of the outstanding shares of stock of the Corporation entitled to vote thereon, without a vote of the holders of the Preferred Stock, or of any series thereof, unless a vote of any such holders is required pursuant to the terms of any Preferred Stock Designation, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law.

**<u>ARTICLE VII:</u>**

The following provisions are inserted for the management of the business and the conduct of the affairs of the Corporation, and for further definition, limitation and regulation of the powers of the Corporation and of its directors and stockholders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The business and affairs of the Corporation shall be managed by or under the direction of the Board. In addition to the powers and authority expressly conferred upon them by statute or by this Certificate or the Bylaws of the Corporation, the directors are hereby empowered to exercise all such powers and do all such acts and things as may be exercised or done by the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The names and mailing addresses of the persons who are to serve as the initial directors of the Corporation until the next annual meeting of the stockholders of the corporation, or until their successors are elected and qualified, are: (i) Paul Kacir, 2801 E. Camelback Road, Suite 200, Phoenix, Arizona 85016; and (ii) Gerald F. Hayden, Jr., 2801 E. Camelback Road, Suite 200, Phoenix, Arizona 85016.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The directors of the Corporation need not be elected by written ballot unless the Bylaws so provide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Any action required or permitted to be taken at any annual or special meeting of stockholders may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.

**<u>ARTICLE VIII:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The stockholders shall have the power to adopt, amend, alter or repeal this Certificate. Except as provided in Section 5 of ARTICLE V: and in Section 2 of ARTICLE VI:, any adoption, amendment, alteration or repeal of this Certificate by the stockholders shall require, in addition to any vote of the holders of any class or series of stock of the Corporation required by the General Corporation Law or by this Certificate, the affirmative vote of the holders of at least a majority of the voting power of all of the then outstanding shares of the capital stock of the Corporation entitled to vote generally in the election of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The stockholders shall have the power to adopt, amend, alter or repeal the Bylaws of the Corporation. Any adoption, amendment, alteration or repeal of the Bylaws of the Corporation by the stockholders shall require, in addition to any vote of the holders of any class or series of stock of the Corporation required by the General Corporation Law or by this Certificate, the affirmative vote of the holders of a majority of the voting power of all of the then outstanding shares of the capital stock of the Corporation entitled to vote generally in the election of directors, voting as a single class.

**<u>ARTICLE IX:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. A director of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director's duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involved intentional misconduct or a knowing violation of law, (iii) under Section 174 of the General Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. If the General Corporation Law is hereafter amended to authorize the further elimination or limitation of the liability of a director, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law, as so amended. Any repeal or modification of the foregoing provisions of this ARTICLE IX: by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of, or increase the liability of any director of the Corporation with respect to actions or omissions occurring prior to, such repeal or modification.

**<u>ARTICLE X:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Each person (and the heirs, executors or administrators of such person) who was or is a party or is threatened to be made a party to, or is involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such person is or was a director or officer of the Corporation or is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, shall be indemnified and held harmless by the Corporation to the fullest extent permitted by the General Corporation Law or any other applicable law. The right to indemnification conferred in this ARTICLE X shall also include the right to be paid by the Corporation the expenses incurred in connection with any such proceeding in advance of its final disposition to the fullest extent authorized by the General Corporation Law or any other applicable law. The right to indemnification conferred in this ARTICLE X shall be a contract right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Corporation may, by action of its Board, provide indemnification to such of the employees and agents of the Corporation to such extent and to such effect as the Board shall determine to be appropriate and authorized by the General Corporation Law or any other applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Corporation shall have the power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss incurred by such person in any such capacity or arising out of such person's status as such, whether or not the Corporation would have the power to indemnify such person against such liability under the General Corporation Law or any other applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The rights and authority conferred in this ARTICLE X shall not be exclusive of any other right which any person may otherwise have or hereafter acquire. Neither the amendment nor repeal of this ARTICLE X, nor the adoption of any provision of this Certificate or the Bylaws of the Corporation, nor, to the fullest extent permitted by the General Corporation Law, any modification of law, shall eliminate or reduce the effect of this ARTICLE X in respect of any acts or omissions occurring prior to such amendment, repeal, adoption or modification.

**<u>ARTICLE XI:</u>**

**<u>ARTICLE XII:</u>**

The name of the Incorporator is Paul Kacir. The address of the incorporator is 2801 E. Camelback Road, Suite 200, Phoenix, Arizona 85016.

I, THE UNDERSIGNED, being the incorporator, for the purpose of forming a corporation pursuant to the General Corporation Law, do make this Certificate of Incorporation, hereby acknowledging, declaring, and certifying that the foregoing Certificate of Incorporation is my act and deed and that the facts herein stated are true, and have accordingly hereunto set my hand on this 28<sup>th</sup> day of March, 2022.

---

| | |
|:---|:---|
| By: | */s/ Paul Kacir* |
|  | Paul Kacir, Incorporator |

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## Exhibit 3.2

**Exhibit 3.2**

**BYLAWS**

**OF**

**RVELOCITY, INC.**

\* \* \* \* \*

ARTICLE 1

OFFICES

Section 1.01. *Registered Office*. The registered office of the Corporation shall be Incorporating Services, Ltd., 3500 South DuPont Highway, Dover, Kent County, Delaware 19901.

Section 1.02. *Other Offices*. The Corporation may also have offices at such other places both within and without the State of Delaware as the Board of Directors may from time to time determine or the business of the Corporation may require.

Section 1.03. *Books*. The books of the Corporation may be kept within or without the State of Delaware as the Board of Directors may from time to time determine or the business of the Corporation may require.

ARTICLE 2<br> MEETINGS OF STOCKHOLDERS

Section 2.01. *Time and Place of Meetings*. All meetings of stockholders shall be held at such place, either within or without the State of Delaware, on such date and at such time as may be determined from time to time by the Board of Directors (or the Chairman in the absence of a designation by the Board of Directors).

Section 2.02. *Annual Meetings*. An annual meeting of stockholders, commencing with the year 2022, shall be held for the election of directors and to transact such other business as may properly be brought before the meeting.

Section 2.03. *Special Meetings*. Special meetings of stockholders may be called by the Board of Directors, the Chairman of the Board of Directors, the Chief Executive Officer, or the President of the Corporation and may not be called by any other person.

Section 2.04. *Notice of Meetings and Adjourned Meetings; Waivers of Notice*. (a) Whenever stockholders are required or permitted to take any action at a meeting, a written notice of the meeting shall be given which shall state the place, if any, date and hour of the meeting, the means of remote communications, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such meeting, and, in the case of a special meeting, the purpose or purposes for which the meeting is called. Unless otherwise provided by the General Corporation Law of the State of Delaware as the same exists or may hereafter be amended ("***Delaware Law***"), such notice shall be given not less than 10 nor more than 60 days before the date of the meeting to each stockholder of record entitled to vote at such meeting. Unless these bylaws otherwise require, when a meeting is adjourned to another time or place (whether or not a quorum is present), notice need not be given of the adjourned meeting if the time, place, if any, and the means of remote communications, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such meeting, are announced at the meeting at which the adjournment is taken. At the adjourned meeting, the Corporation may transact any business which might have been transacted at the original meeting. If the adjournment is for more than 30 days, or after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A written waiver of any such notice signed by the person entitled thereto, or a waiver by electronic transmission by the person entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the person attends the meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Business transacted at any special meeting of stockholders shall be limited to the purposes stated in the notice.

Section 2.05. *Quorum*. Unless otherwise provided under the certificate of incorporation or these bylaws and subject to Delaware Law, the presence, in person or by proxy, of the holders of a majority of the voting power of the stock issued and outstanding and entitled to vote shall constitute a quorum for the transaction of business. If, however, such quorum shall not be present or represented at any meeting of the stockholders, the stockholders present in person or represented by proxy shall adjourn the meeting, without notice other than announcement at the meeting, until a quorum shall be present or represented. At such adjourned meeting at which a quorum shall be present or represented any business may be transacted which might have been transacted at the meeting as originally notified.

Section 2.06. *Voting*. (a) Except as otherwise provided by law, the certificate of incorporation, these bylaws or the rules of any applicable stock exchange, in all matters other than the election of directors, the affirmative vote of a majority of the voting power of the shares present in person or represented by proxy at the meeting and entitled to vote on the subject matter shall be the act of the stockholders. Except as otherwise required by law, the certificate of incorporation or these bylaws, directors shall be elected by a plurality of the voting power of the shares present in person or represented by proxy at the meeting and entitled to vote on the election of directors. Where a separate vote by a class or series or classes or series is required, in all matters other than the election of directors, the affirmative vote of the majority of the voting power of the shares of such class or series or classes or series present in person or represented by proxy at the meeting and entitled to vote on the subject matter shall be the act of such class or series or classes or series, except as otherwise provided by law, the certificate of incorporation, these bylaws or the rules of any applicable stock exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each stockholder entitled to vote at a meeting of stockholders or to express consent or dissent to a corporate action in writing without a meeting may authorize another person or persons to act for such stockholder by proxy, appointed by an instrument in writing, subscribed by such stockholder or by his attorney thereunto authorized, or by proxy sent by cable, telegram or by any means of electronic communication permitted by law, which results in a writing from such stockholder or by his attorney, and delivered to the secretary of the meeting. No proxy shall be voted after three (3) years from its date, unless said proxy provides for a longer period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Votes may be cast by any stockholder entitled to vote in person or by his proxy. In determining the number of votes cast for or against a proposal or nominee, shares abstaining from voting on a matter (including elections) will not be treated as a vote cast. A non-vote by a broker will be counted for purposes of determining a quorum but not for purposes of determining the number of votes cast.

Section 2.07. *Action by Consent*. Unless otherwise provided in the Certificate of Incorporation, any action required or permitted to be taken at any annual or special meeting of stockholders may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted. Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent shall be given to those stockholders who have not consented in writing. In the event that the action which is consented to is such as would have required the filing of a certificate under Delaware Law if such action had been voted on by stockholders at a meeting thereof, the certificate filed shall state, in lieu of any statement concerning any vote of stockholders, that written consent and written notice has been given as provided in this <u>Section 2.07</u>.

Section 2.08. *Organization*. At each meeting of stockholders, the Chairman of the Board, if one shall have been elected, or in the Chairman's absence or if one shall not have been elected, the director designated by the vote of the majority of the directors present at such meeting, shall act as chairman of the meeting. The Secretary (or in the Secretary's absence or inability to act, the person whom the chairman of the meeting shall appoint secretary of the meeting) shall act as secretary of the meeting and keep the minutes thereof.

Section 2.09. *Order of Business*. The order of business at all meetings of stockholders shall be as determined by the chairman of the meeting.

Section 2.10. *Nomination of Directors*. Only persons who are nominated in accordance with the procedures set forth in these bylaws shall be eligible to serve as directors. Nominations of persons for election to the Board of Directors of the Corporation may be made at a meeting of stockholders (a) by or at the direction of the Board of Directors or (b) by any stockholder of the Corporation who is a stockholder of record at the time of giving of notice provided for in this Section 2.10, who shall be entitled to vote for the election of directors at the meeting and who complies with the notice procedures set forth in this Section 2.10. Such nominations, other than those made by or at the direction of the Board of Directors, shall be made pursuant to timely notice in writing to the secretary of the Corporation. To be timely, a stockholder's notice shall be delivered to or mailed and received at the principal executive offices of the Corporation not less than 60 days nor more than 90 days prior to the first anniversary of the preceding year's annual meeting of stockholders; *provided, however*, that in the event that the date of the annual meeting is advanced more than 30 days prior to such anniversary date or delayed more than 60 days after such anniversary date then to be timely such notice must be received by the Corporation no later than the later of 70 days prior to the date of the meeting or the 10th day following the day on which public announcement of the date of the meeting was made. Such stockholder's notice shall set forth (a) as to each person whom the stockholder proposes to nominate for election or reelection as a director all information relating to such person that is required to be disclosed in solicitations of proxies for election of directors, or is otherwise required, in each case pursuant to Regulation 14A under the Securities Exchange Act of 1934 (including such person's written consent to being named in the proxy statement as a nominee and to serving as a director if elected); and (b) as to the stockholder giving the notice (i) the name and address, as they appear on the Corporation's books, of such stockholder and (ii) the class and number of shares of the Corporation which are beneficially owned by such stockholder and a description of any agreement, arrangement or understanding (including, regardless of the form of settlement, any derivative, long or short positions, profit interests, forwards, futures, swaps, options, warrants, convertible securities, stock appreciation or similar rights, hedging transactions and borrowed or loaned shares) that has been entered into by or on behalf of, or any other agreement, arrangement or understanding that has been made, the effect or intent of which is to create or mitigate loss to, manage risk or benefit of share price changes for, or increase or decrease the voting power of, such stockholder with respect to the Corporation's securities. At the request of the Board of Directors, any person nominated by the Board of Directors for election as a director shall furnish to the secretary of the Corporation that information required to be set forth in a stockholder's notice of nomination which pertains to the nominee. No person shall be eligible to serve as a director of the Corporation unless nominated in accordance with the procedures set forth in this bylaw. The chairman of the meeting shall, if the facts warrant, determine and declare to the meeting that a nomination was not made in accordance with the procedures prescribed by the bylaws, and if he should so determine, he shall so declare to the meeting and the defective nomination shall be disregarded. Notwithstanding the foregoing provisions of this Section 2.10, a stockholder shall also comply with all applicable requirements of the Securities Exchange Act of 1934, and the rules and regulations thereunder with respect to the matters set forth in this Section 2.10.

Section 2.11. *Notice of Business*. At any meeting of the stockholders, only such business shall be conducted as shall have been brought before the meeting (a) by or at the direction of the Board of Directors or (b) by any stockholder of the Corporation who is a stockholder of record at the time of giving of the notice provided for in this Section 2.11, who shall be entitled to vote at such meeting and who complies with the notice procedures set forth in this Section 2.11. For business to be properly brought before a stockholder meeting by a stockholder, the stockholder must have given timely notice thereof in writing to the secretary of the Corporation. To be timely, a stockholder's notice shall be delivered to or mailed and received at the principal executive offices of the Corporation not less than 60 days nor more than 90 days prior to the first anniversary of the preceding year's annual meeting of stockholders; *provided, however*, that in the event that the date of the annual meeting is advanced more than 30 days prior to such anniversary date or delayed more than 60 days after such anniversary date then to be timely such notice must be received by the Corporation no later than the later of 70 days prior to the date of the meeting or the 10th day following the day on which public announcement of the date of the meeting was made. A stockholder's notice to the secretary shall set forth as to each matter the stockholder proposes to bring before the meeting (a) a brief description of the business desired to be brought before the meeting and the reasons for conducting such business at the meeting, (b) the name and address, as they appear on the Corporation's books, of the stockholder proposing such business, (c) the class and number of shares of the Corporation which are beneficially owned by such stockholder and a description of any agreement, arrangement or understanding (including, regardless of the form of settlement, any derivative, long or short positions, profit interests, forwards, futures, swaps, options, warrants, convertible securities, stock appreciation or similar rights, hedging transactions and borrowed or loaned shares) that has been entered into by or on behalf of, or any other agreement, arrangement or understanding that has been made, the effect or intent of which is to create or mitigate loss to, manage risk or benefit of share price changes for, or increase or decrease the voting power of, such stockholder with respect to the Corporation's securities and (d) any material interest of the stockholder in such business. Notwithstanding anything in the bylaws to the contrary, no business shall be conducted at a stockholder meeting except in accordance with the procedures set forth in this Section 2.11. The chairman of the meeting shall, if the facts warrant, determine and declare to the meeting that business was not properly brought before the meeting and in accordance with the provisions of the bylaws, and if he should so determine, he shall so declare to the meeting and any such business not properly brought before the meeting shall not be transacted. Notwithstanding the foregoing, provisions of this Section 2.11, a stockholder shall also comply with all applicable requirements of the Securities Exchange Act of 1934, and the rules and regulations thereunder with respect to the matters set forth in this Section 2.11.

ARTICLE 3<br> DIRECTORS

Section 3.01. *General Powers*. Except as otherwise provided in Delaware Law or the certificate of incorporation, the business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors.

Section 3.02. *Number, Election and Term of Office*. The Board of Directors shall consist of not less than three members, the exact number of which shall from time to time be determined by resolution of the Board of Directors. Each director shall hold office until such director's successor shall have been duly elected and qualified or until such director's earlier death, resignation or removal. Directors need not be stockholders.

Section 3.03. *Quorum and Manner of Acting*. Unless the certificate of incorporation or these bylaws require a greater number, a majority of the total number of directors shall constitute a quorum for the transaction of business, and the affirmative vote of a majority of the directors present at a meeting at which a quorum is present shall be the act of the Board of Directors. When a meeting is adjourned to another time or place (whether or not a quorum is present), notice need not be given of the adjourned meeting if the time and place thereof are announced at the meeting at which the adjournment is taken. At the adjourned meeting, the Board of Directors may transact any business which might have been transacted at the original meeting. If a quorum shall not be present at any meeting of the Board of Directors the directors present thereat shall adjourn the meeting, from time to time, without notice other than announcement at the meeting, until a quorum shall be present.

Section 3.04. *Time and Place of Meetings*. The Board of Directors shall hold its meetings at such place, either within or without the State of Delaware, and at such time as may be determined from time to time by the Board of Directors (or the Chairman in the absence of a determination by the Board of Directors).

Section 3.05. *Annual Meeting*. The Board of Directors shall meet for the purpose of organization, the election of officers and the transaction of other business, as soon as practicable after each annual meeting of stockholders, on the same day and at the same place where such annual meeting shall be held. Notice of such meeting need not be given. In the event such annual meeting is not so held, the annual meeting of the Board of Directors may be held at such place either within or without the State of Delaware, on such date and at such time as shall be specified in a notice thereof given as hereinafter provided in Section 3.07 herein or in a waiver of notice thereof signed by any director who chooses to waive the requirement of notice.

Section 3.06. *Regular Meetings*. After the place and time of regular meetings of the Board of Directors shall have been determined and notice thereof shall have been once given to each member of the Board of Directors, regular meetings may be held without further notice being given.

Section 3.07. *Special Meetings*. Special meetings of the Board of Directors may be called by the Chairman of the Board or the President and shall be called by the Chairman of the Board, President or Secretary on the written request of three directors. Notice of special meetings of the Board of Directors shall be given to each director at least three days before the date of the meeting in such manner as is determined by the Board of Directors.

Section 3.08. *Committees*. The Board of Directors may designate one or more committees, each committee to consist of one or more of the directors of the Corporation. The Board may designate one or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of a member of a committee, the member or members present at any meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another member of the Board of Directors to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the Board of Directors, shall have and may exercise all the powers and authority of the Board of Directors in the management of the business and affairs of the Corporation, and may authorize the seal of the Corporation to be affixed to all papers which may require it; but no such committee shall have the power or authority in reference to the following matter: (a) approving or adopting, or recommending to the stockholders, any action or matter expressly required by Delaware Law to be submitted to the stockholders for approval or (b) adopting, amending or repealing any bylaw of the Corporation. Each committee shall keep regular minutes of its meetings and report the same to the Board of Directors when required.

Section 3.09. *Action by Consent*. Unless otherwise restricted by the certificate of incorporation or these bylaws, any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting, if all members of the Board or committee, as the case may be, consent thereto in writing or by electronic transmission, and the writing or writings or electronic transmission or transmissions, are filed with the minutes of proceedings of the Board or committee. Such filing shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form.

Section 3.10. *Telephonic Meetings*. Unless otherwise restricted by the certificate of incorporation or these bylaws, members of the Board of Directors, or any committee designated by the Board of Directors, may participate in a meeting of the Board of Directors, or such committee, as the case may be, by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person at the meeting.

Section 3.11. *Resignation*. Any director may resign at any time by giving notice in writing or by electronic transmission to the Board of Directors or to the Secretary of the Corporation. The resignation of any director shall take effect upon receipt of notice thereof or at such later time as shall be specified in such notice; and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

Section 3.12. *Vacancies*. Unless otherwise provided in the certificate of incorporation, vacancies on the Board of Directors resulting from death, resignation, removal or otherwise and newly created directorships resulting from any increase in the number of directors may be filled solely by a majority of the directors then in office (although less than a quorum) or by the sole remaining director. If there are no directors in office, then an election of directors may be held in accordance with Delaware Law. Unless otherwise provided in the certificate of incorporation, when one or more directors shall resign from the Board, effective at a future date, a majority of the directors then in office, including those who have so resigned, shall have the power to fill such vacancy or vacancies, the vote thereon to take effect when such resignation or resignations shall become effective, and each director so chosen shall hold office as provided in the filling of the other vacancies.

Section 3.14. *Compensation*. Unless otherwise restricted by the certificate of incorporation or these bylaws, the Board of Directors shall have authority to fix the compensation of directors, including fees and reimbursement of expenses.

Section 3.15. *Preferred Stock Directors*. Notwithstanding anything else contained herein, whenever the holders of one or more classes or series of Preferred Stock shall have the right, voting separately as a class or series, to elect directors, the election, term of office, filing of vacancies, removal and other features of such directorships shall be governed by the terms of the resolutions applicable thereto adopted by the Board of Directors pursuant to the certificate of incorporation, and such directors so elected shall not be subject to the provisions of Sections 3.02, 3.12 and 3.13 of this Article 3 unless otherwise provided therein.

ARTICLE 4<br> OFFICERS

Section 4.01. *Principal Officers*. The principal officers of the Corporation shall be a Chief Executive Officer, President, one or more Vice Presidents, a Treasurer and a Secretary who shall have the duty, among other things, to record the proceedings of the meetings of stockholders and directors in a book kept for that purpose. The Corporation may also have such other principal officers, including one or more Controllers, as the Board may in its discretion appoint. One person may hold the offices and perform the duties of any two or more of said offices, except that no one person shall hold the offices and perform the duties of (i) President and Secretary and/or (ii) Chief Executive Officer and Secretary.

Section 4.02. *Election, Term of Office and Remuneration*. The principal officers of the Corporation shall be elected annually by the Board of Directors at the annual meeting thereof. Each such officer shall hold office until his or her successor is elected and qualified, or until his or her earlier death, resignation or removal. The remuneration of all officers of the Corporation shall be fixed by the Board of Directors. Any vacancy in any office shall be filled in such manner as the Board of Directors shall determine.

Section 4.03. *Subordinate Officers*. In addition to the principal officers enumerated in Section 4.01 herein, the Corporation may have one or more Vice Presidents, Assistant Treasurers, Assistant Secretaries and Assistant Controllers and such other subordinate officers, agents and employees as the Board of Directors may deem necessary, each of whom shall hold office for such period as the Board of Directors may from time to time determine. The Board of Directors may delegate to any principal officer the power to appoint and to remove any such subordinate officers, agents or employees.

Section 4.04. *Removal*. Except as otherwise permitted with respect to subordinate officers, any officer may be removed, with or without cause, at any time, by resolution adopted by the Board of Directors.

Section 4.05. *Resignations*. Any officer may resign at any time by giving written notice to the Board of Directors (or to a principal officer if the Board of Directors has delegated to such principal officer the power to appoint and to remove such officer). The resignation of any officer shall take effect upon receipt of notice thereof or at such later time as shall be specified in such notice; and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

Section 4.06. *Powers and Duties*. The officers of the Corporation shall have such powers and perform such duties incident to each of their respective offices and such other duties as may from time to time be conferred upon or assigned to them by the Board of Directors.

ARTICLE 5<br> CAPITAL STOCK

Section 5.01. *Certificates for Stock; Uncertificated Shares*. The shares of the Corporation shall be represented by certificates, provided that the Board of Directors of the Corporation may provide by resolution or resolutions that some or all of any or all classes or series of its stock shall be uncertificated shares. Any such resolution shall not apply to shares represented by a certificate until such certificate is surrendered to the Corporation. Except as otherwise provided by law, the rights and obligations of the holders of uncertificated shares and the rights and obligations of the holders of shares represented by certificates of the same class and series shall be identical. Every holder of stock represented by certificates shall be entitled to have a certificate signed by, or in the name of the Corporation by the Chairman or Vice Chairman of the Board of Directors, or the Chief Executive Officer, President or Vice President, and by the Treasurer or an assistant Treasurer, or the Secretary or an assistant Secretary of the Corporation representing the number of shares registered in certificate form. Any or all of the signatures on the certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the Corporation with the same effect as if such person were such officer, transfer agent or registrar at the date of issue. The Corporation shall not have power to issue a certificate in bearer form.

Section 5.02. *Transfer of Shares*. Shares of the stock of the Corporation may be transferred on the record of stockholders of the Corporation by the holder thereof or by such holder's duly authorized attorney upon surrender of a certificate therefor properly endorsed or upon receipt of proper transfer instructions from the registered holder of uncertificated shares or by such holder's duly authorized attorney and upon compliance with appropriate procedures for transferring shares in uncertificated form, unless waived by the Corporation.

Section 5.03. *Authority for Additional Rules Regarding Transfer*. The Board of Directors shall have the power and authority to make all such rules and regulations as they may deem expedient concerning the issue, transfer and registration of certificated or uncertificated shares of the stock of the Corporation, as well as for the issuance of new certificates in lieu of those which may be lost or destroyed, and may require of any stockholder requesting replacement of lost or destroyed certificates, bond in such amount and in such form as they may deem expedient to indemnify the Corporation, and/or the transfer agents, and/or the registrars of its stock against any claims arising in connection therewith.

ARTICLE 6<br> GENERAL PROVISIONS

Section 6.01. *Fixing the Record Date*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, the Board of Directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors, and which record date shall not be more than 60 nor less than 10 days before the date of such meeting. If no record date is fixed by the Board of Directors, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; *provided* that the Board of Directors may fix a new record date for the adjourned meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In order that the Corporation may determine the stockholders entitled to consent to corporate action in writing without a meeting, the Board of Directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors, and which date shall not be more than 10 days after the date upon which the resolution fixing the record date is adopted by the Board of Directors. If no record date has been fixed by the Board of Directors, the record date for determining stockholders entitled to consent to corporate action in writing without a meeting, when no prior action by the Board of Directors is required by Delaware Law, shall be the first date on which a signed written consent setting forth the action taken or proposed to be taken is delivered to the Corporation by delivery to its registered office in Delaware, its principal place of business, or an officer or agent of the Corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to the Corporation's registered office shall be by hand or by certified or registered mail, return receipt requested. If no record date has been fixed by the Board of Directors and prior action by the Board of Directors is required by Delaware Law, the record date for determining stockholders entitled to consent to corporate action in writing without a meeting shall be at the close of business on the day on which the Board of Directors adopts the resolution taking such prior action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In order that the Corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment of any rights or the stockholders entitled to exercise any rights in respect of any change, conversion or exchange of stock, or for the purpose of any other lawful action, the Board of Directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall be not more than 60 days prior to such action. If no record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of business on the day on which the Board of Directors adopts the resolution relating thereto.

Section 6.02. *Dividends*. Subject to limitations contained in Delaware Law and the certificate of incorporation, the Board of Directors may declare and pay dividends upon the shares of capital stock of the Corporation, which dividends may be paid either in cash, in property or in shares of the capital stock of the Corporation.

Section 6.03. *Year*. The fiscal year of the Corporation shall commence on January 1 and end on December 31 of each year. The fiscal year of the corporation may be changed by the board of directors.

Section 6.04. *Corporate Seal*. The corporate seal shall have inscribed thereon the name of the Corporation, the year of its organization and the words "Corporate Seal, Delaware". The seal may be used by causing it or a facsimile thereof to be impressed, affixed or otherwise reproduced.

Section 6.05. *Voting of Stock Owned by the Corporation*. The Board of Directors may authorize any person, on behalf of the Corporation, to attend, vote at and grant proxies to be used at any meeting of stockholders of any corporation (except this Corporation) in which the Corporation may hold stock.

Section 6.07. *Amendments*. These bylaws or any of them, may be altered, amended or repealed, or new bylaws may be made, by the stockholders entitled to vote thereon at any annual or special meeting thereof or by the Board of Directors. Unless a higher percentage is required by the certificate of incorporation as to any matter which is the subject of these bylaws, all such amendments must be approved by the affirmative vote of the holders of 66⅔% of the total voting power of all outstanding securities of the Corporation then entitled to vote generally in the election of directors, voting together as a single class.

**<u>CERTIFICATION OF ADOPTION</u>**

I certify that I am the Secretary of RVeloCITY, Inc., a Delaware corporation (the "<u>Corporation</u>"), and have been designated by the Board of Directors to act in that capacity. I also certify that the foregoing Bylaws have been adopted as the Bylaws of the Corporation by its Board of Directors by written consent, in lieu of meeting, and that such Bylaws, as of the date of this Certificate, have not been repealed, altered, amended, restated, or superseded, and remain in full force and effect.

DATED as of this 28<sup>th</sup> day of March, 2022.

---

| |
|:---|
| */s/ Gerald F. Hayden Jr* |
| Gerald F. Hayden Jr |

---

## Exhibit 4.1

**Exhibit 4.1**

**[SPECIMEN CLASS A COMMON STOCK CERTIFICATE]**

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| | | |
|:---|:---|:---|
| <br> Certificate No.<br> -[____]- | <br> **RVeloCITY, INC.**<br> INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE<br> CLASS A COMMON STOCK<br>| <br> Number of Shares<br> -[______]- |

---

SEE REVERSE FOR

CERTAIN DEFINITIONS

CUSIP: [ ]

THIS CERTIFIES THAT ___________________________________ IS THE OWNER OF __________________________ FULLY PAID AND NON-ASSESSABLE SHARES OF THE CLASS A COMMON STOCK, PAR VALUE OF $0.0001 PER SHARE, OF

**RVeloCITY, INC.**

**(THE "CORPORATION")**

TRANSFERABLE ON THE BOOKS OF THE CORPORATION IN PERSON OR BY DULY AUTHORIZED ATTORNEY UPON SURRENDER OF THIS CERTIFICATE PROPERLY ENDORSED. THIS CERTIFICATE IS NOT VALID UNLESS COUNTERSIGNED BY THE TRANSFER AGENT AND REGISTERED BY THE REGISTRAR. WITNESS THE SEAL OF THE CORPORATION AND THE FACSIMILE SIGNATURES OF ITS DULY AUTHORIZED OFFICERS.

DATED: ________________

[Corporate Seal]

Delaware

    <br> [__________] [___________]

**RVeloCITY, INC.**

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

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| | | | |
|:---|:---|:---|:---|
| TEN COM - | as tenants in common | UNIF GIFT MIN ACT - | _________________ Custodian ___________________<br> (Cust) (Minor)<br> under Uniform Gifts to Minors Act _____________<br> (State) |
| TEN ENT - | as tenants by the entireties |  | _________________ Custodian ___________________<br> (Cust) (Minor)<br> under Uniform Gifts to Minors Act _____________<br> (State) |
| JT TEN - | as joint tenants with right of survivorship and not as tenants in common |  | _________________ Custodian ___________________<br> (Cust) (Minor)<br> under Uniform Gifts to Minors Act _____________<br> (State) |

---

Additional abbreviations may also be used though not in the above list.

FOR VALUE RECEIVED, ________________________________________________ HEREBY SELLS, ASSIGNS AND TRANSFERS UNTO

____________________________________________________________

(PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER(S) OF ASSIGNEE(S))

____________________________________________________________

____________________________________________________________

____________________________________________________________

(PLEASE PRINT OR TYPEWRITE NAME(S) AND ADDRESS(ES), INCLUDING ZIP CODE, OF ASSIGNEE(S))

_______________ SHARES OF THE CAPITAL STOCK REPRESENTED BY THE WITHIN CERTIFICATE, AND DO HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS _______________________________________ ATTORNEY TO TRANSFER THE SAID STOCK ON THE BOOKS OF THE WITHIN NAMED CORPORATION WITH FULL POWER OF SUBSTITUTION IN THE PREMISES.

DATED:

NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

Signature(s) Guaranteed:

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

## Exhibit 10.1

**Exhibit 10.1**

**RVELOCITY, INC.**

**AMENDED AND RESTATED<br> OMNIBUS INCENTIVE COMPENSATION PLAN**

**EFFECTIVE DATE: April 5, 2022<br> Approved by Stockholders: March 15, 2022**

**SECTION 1** - **<u>ESTABLISHMENT, PURPOSE, EFFECTIVE DATE, EXPIRATION DATE</u>**

**1.1** **<u>BACKGROUND AND ESTABLISHMENT</u>**. RVeloCITY, Inc. d/b/a RVnGo (the "**<u>Company</u>**") previously established the "RVeloCITY, Inc. Omnibus Incentive Compensation Plan" (the "**<u>Prior Plan</u>**") for Participants. The Company now wishes to amend and restate the Prior Plan and hereby adopts the "RVeloCITY, Inc. Amended and Restated Omnibus Incentive Compensation Plan" (the "**<u>Plan</u>**") for eligible Participants.

**1.2** **<u>PURPOSE</u>**. The purpose of the Plan is to enhance and promote the success of the Company by linking the personal interests of the Company's and/or any Subsidiary's employees, officers, executives, non-employee Board members, consultants and advisors (any such persons who have been granted an Award pursuant to the Plan, the "**<u>Participants</u>**") to those of the Company's stockholders and by providing such individuals with an incentive to pursue outstanding performance that is designed to generate superior returns to the Company stockholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of Participants upon whose judgment, interest, and efforts the Company largely depends upon to operate successfully. To further these objectives, the Plan provides the Company with the flexibility to grant Participant with awards of Options, Stock Appreciation Rights, Restricted Stock Awards, Performance Share Awards and/or Restricted Stock Unit Awards.

**1.3** **<u>EFFECTIVE DATE</u>**. The Plan will become effective on the effective date of the conversion of the Company from an Arizona corporation into a Delaware corporation pursuant to a Certificate of Conversion filed with the Secretary of State of Delaware (the "**<u>Effective Date</u>**"), subject to approval by the Company's stockholders within 12 months of such conversion date.

**1.4** **<u>EXPIRATION DATE</u>**. The Plan will expire on, and no Award may be granted under the Plan after, the 10th anniversary of the Effective Date (the "**<u>Expiration Date</u>**"). Any Awards that are outstanding on the Expiration Date shall remain in force according to the terms of the Plan and the applicable Award Agreement.

**SECTION 2 - <u>GLOSSARY; CONSTRUCTION</u>**

**2.1** **<u>GLOSSARY</u>**. When a word or phrase appears in this Plan document with the initial letter capitalized, and the word or phrase does not commence a sentence, the word or phrase will generally be given the meaning ascribed to it in Section 1 or in the attached Glossary, which is incorporated into and is part of this Plan. All of these key terms are listed in the Glossary. Whenever these key terms are used, they will be given the defined meaning unless a clearly different meaning is required by the context.

**2.2** **<u>CONSTRUCTION</u>**. The masculine gender, where appearing in the Plan, shall include the feminine gender (and vice versa), and the singular shall include the plural, unless the context clearly indicates to the contrary. If any provision of this Plan is determined to be for any reason invalid or unenforceable, the remaining provisions shall continue in full force and effect.

**SECTION 3 - <u>ELIGIBILITY AND PARTICIPATION</u>**

**3.1 <u>General Eligibility</u>**. Persons who are eligible to receive Awards under this Plan include all employees, officers, executives, and Non-Employee Directors of, and Consultants to, the Company or any of its Subsidiaries, in each case as specifically designated from time to time by the Committee. Awards may also be granted by the Committee to prospective employees or prospective Non-Employee Directors, but no portion of any such Award will be deemed to be issued or effective, or vest or become exercisable, prior to the date on which such individual begins to provide services to the Company or its Subsidiaries.

**3.2 <u>Actual Participation</u>**. Subject to the provisions of the Plan, the Committee may, from time to time, select from among all eligible Participants, those to whom Awards will be granted and will determine the nature, amount, vesting and other terms and conditions of each Award.

**3.3** **<u>FOREIGN PARTICIPANTS</u>**. In order to assure the viability of Awards granted to Participants employed in countries outside of the U.S., the Committee may provide for such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy or custom. Moreover, the Committee may approve such supplements to, or amendments, restatements, or alternative versions of, the Plan as it may consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in effect for any other purpose; provided, however, that no such supplements, amendments, restatements, or alternative versions shall increase the share limitations set forth in Section 5.

**SECTION 4 - <u>ADMINISTRATION</u>**

**4.1 <u>GENERAL</u>**. The Plan shall be administered by the Compensation Committee or, with respect to individuals who are Non-Employee Directors, the Board. All references in the Plan to the "Committee" shall refer to the Committee or Board, as applicable. A majority of the Committee shall constitute a quorum. The acts of a majority of the members present at any meeting at which a quorum is present, and acts approved in writing by a majority of the Committee in lieu of a meeting, shall be deemed the acts of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Subsidiary, the Company's independent registered public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. The Committee is authorized to interpret the Plan, to prescribe, amend, and rescind rules and regulations as it may deem necessary or advisable to administer the Plan, to provide for conditions and assurances deemed necessary or advisable to protect the interests of the Company, and to make all other determinations necessary or advisable for the administration of the Plan, whether such determinations are uniform or otherwise, but only to the extent not contrary to the express provisions of the Plan.

**4.2** **<u>COMMITTEE RESPONSIBILITIES</u>**. Subject to the provisions of the Plan, the Committee shall have the authority to: (a) designate from the persons who are eligible to receive Awards under this Plan the Participants who are entitled to receive Awards under the Plan; (b) determine the types of Awards and the times when Awards will be granted; (c) determine the number of Awards to be granted and the number of shares of Stock to which an Award will relate; (d) determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price or base value, grant price, or purchase price, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, based in each case on such considerations as the Committee may in its sole discretion determine; provided, however, that the Committee should generally avoid taking any action or failing to take any action with respect to the operation of the Plan that would cause all or part of the payment under any Award to be subject to the additional tax under Section 409A of the Code; (e) determine whether, to what extent, and in what circumstances an Award may be settled in, or the exercise price or purchase price of an Award may be paid in, cash, Stock, other Awards, or other property, or whether an Award may be cancelled, forfeited, exchanged or surrendered; (f) prescribe the form of each Award Agreement, which need not be the same for each Participant; (g) decide all other matters that must be determined in connection with an Award; (h) interpret the terms of, and determine any matter arising pursuant to, the Plan or any Award Agreement whether such determinations are uniform or otherwise; and (i) make all other decisions or determinations (which may not be uniform) that may be required pursuant to the Plan or an Award Agreement as the Committee deems necessary or advisable to administer the Plan, including, without limitation, establishing, adopting, or revising any rules and regulations as it may deem necessary or advisable to administer the Plan. The Committee shall also have the authority to modify existing Awards to the extent that such modification is within the power and authority of the Committee as set forth in the Plan. The foregoing list of powers is not intended to be complete or exclusive and, to the extent not contrary to the express provisions of the Plan, the Committee shall have such powers, whether or not expressly set forth in this Plan, that it may determine necessary or appropriate to administer the Plan.

**4.3 <u>DEcisions Final</u>**. The Committee's interpretation of the Plan, any Awards granted pursuant to the Plan, any Award Agreement and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. The Committee reserves the right to render non-uniform decisions based on the Company's interests from time to time. No member of the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any Award granted under the Plan.

**SECTION 5 - <u>Shares available for grant</u>**

**5.1 <u>number of shares</u>**. Subject to adjustment as provided in Section 10, the aggregate number of shares of Stock reserved and available for grant pursuant to the Plan shall be 9,436,086 shares. The shares of Stock delivered pursuant to any Award may consist, in whole or in part, of authorized but unissued Stock, treasury Stock not reserved for any other purposes, or Stock purchased on the open market.

**5.2** **<u>AUTOMATIC INCREASES</u>**. The aggregate number of Shares reserved for Awards under Section 5.1 of the Plan will automatically increase on January 1 of each year, for a period of not more than ten (10) years, commencing on January 1 of the year following the year in which the Effective Date occurs and ending on (and including) January 1, 2032, in an amount so that the total number of shares of Stock available for Awards under the Plan will be equal to twenty percent (20%) of the total number of shares of Common Stock outstanding on December 31 of the preceding calendar year. Notwithstanding the foregoing, the Board may act prior to January 1 of a given year to provide that there will be no January 1 increase for such year or that the increase for such year will be a lesser number of Shares than provided herein.

 ****

**5.3 <u>share counting</u>**. The following rules shall apply solely for purposes of determining the number of shares of Stock available for grant under the Plan at any given time:

 ****

**(a)** The number of shares of Stock reserved and available for grant pursuant to the Plan shall be reduced by one share of Stock for each one share issued in connection with Awards granted under the Plan (or by which the Award is valued by reference).

**(b)** In the event any Award granted under the Plan after the Effective Date is terminated, expired, forfeited, or cancelled for any reason, the number of shares of Stock subject to such Award will again be available for grant under the Plan (i.e., any prior charge against the limits set forth in Sections 5.1 and 5.2 shall be reversed).

**(c)** If shares of Stock are not delivered in connection with an Award because the Award may only be settled in cash rather than in Stock, no shares of Stock shall be counted against the limits set forth in Sections 5.1 and 5.2. If any Award may be settled in cash or Stock, the rules set forth in Section 5.3(b) shall apply until the Award is settled, at which time, if the Award is settled in cash, the underlying shares of Stock will be added back to the shares available for grant pursuant to Sections 5.1 and 5.2.

**(d)** The exercise of a Stock-settled SAR or broker-assisted "cashless" exercise of an Option (or a portion thereof) will reduce the number of shares available for grant under Sections 5.1 and 5.2 by the entire number of shares of Stock subject to that SAR or Option (or applicable portion thereof) Award, even though a smaller number of shares of Stock will be issued upon such an exercise.

**(e)** Shares of Stock tendered to pay the exercise price of an Option or tendered, withheld or otherwise relinquished by a Participant to satisfy a tax withholding obligation arising in connection with any Award will not again become Stock available for grant under the Plan. Moreover, shares of Stock purchased on the open market with cash proceeds generated by the exercise of an Option or SAR will not increase or replenish the number of shares available for grant under Sections 5.1 and 5.2.

**(f)** If the provisions of this Section 5.3 are inconsistent with the requirements of any regulations issued pursuant to Section 422 of the Code, the provisions of such regulations shall control over the provisions of this Section 5.3, but only as this Section 5.3 relates to Incentive Stock Options.

**(g)** To the maximum extent permitted by applicable law and the NASDAQ listing standards (or the rules of any exchange on which the Stock is then listed), shares of Stock awarded in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of combination by the Company or any Subsidiary shall not be counted against shares of Stock available for grant under Sections 5.1 and 5.2.

**(h)** The Committee may adopt such other reasonable rules and procedures as it deems to be appropriate for determining the number of shares of Stock that are available for grant under Sections 5.1 and 5.2.

**5.4 <u>Award LIMITS</u>**. Notwithstanding any other provision in the Plan, and subject to adjustment as provided in Section 10:

 ****

**(a)** The maximum number of shares of Stock that may be awarded as Incentive Stock Options under the Plan shall be 9,436,086 shares. Such number of shares shall not be subject to increase in connection with any increase of Shares reserved for Awards under Section 5.2.

**(b)** The sum of the total cash compensation earned and paid and the aggregate grant date fair value (calculated as of the Date of Grant in accordance with applicable accounting rules) of shares subject to Awards granted to any one Participant who is a Non-Employee Director during any 12-month period shall not exceed $100,000. For the avoidance of doubt, if a Non-Employee Director serves the Company in more than one capacity during any 12-month period, the total compensation limit described in this Section 5.4(b) shall only apply to the compensation paid for services performed as a Non-Employee Director. To the extent any Non-Employee Director compensation is deferred, it shall be counted toward this total compensation limit for the year in which the compensation was first earned or granted.

**5.5 <u>FRACTIONAL SHARES</u>**. No fractional shares of Stock shall be issued pursuant to the Plan and the Committee, in the Award Agreement, shall determine whether cash shall be given in lieu of fractional shares or whether such fractional shares shall be eliminated by rounding up or down as appropriate. In the event of adjustment as provided in Section 10, the total number of shares of Stock subject to any affected Award shall always be a whole number by rounding any fractional share to the nearest whole share.

**SECTION 6 - <u>STOCK OPTIONS</u>**

**6.1 <u>Options</u>**. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Options to one or more Participants upon such terms and conditions and in such amounts, as shall be determined by the Committee. Options are also subject to the following additional terms and conditions:

**(a) <u>Exercise Price</u>**. No Option shall be granted at an exercise price that is less than the Fair Market Value of one share of Stock on the Date of Grant.

**(b) <u>Exercise of Option</u>**. Options shall be exercisable at such times and in such manner, and shall be subject to such restrictions or conditions, as the Committee shall in each instance approve, which need not be the same for each grant or for each Participant. Unless otherwise provided in an Award Agreement or as otherwise approved by the Committee, with respect to Options granted on or after the Effective Date, (i) Options shall immediately lapse and be forfeited to the Plan if a Participant's employment is terminated for Cause, and (ii) unless otherwise provided in an Award Agreement or as otherwise approved by the Committee, if a Participant incurs a termination of employment on account of Disability or death before the Option expires, the Option shall lapse and be forfeited to the Plan, unless it is previously exercised, on the earlier of: (i) the scheduled expiration date of the Option; or (ii) 12 months after the date of the Participant's termination of employment on account of death or Disability. Upon the Participant's death or Disability, any Options exercisable at the Participant's death or Disability may be exercised by the Participant's legal representative or representatives, by the person or persons entitled to do so pursuant to the Participant's last will and testament, or, if the Participant fails to make testamentary disposition of such Option or dies intestate, by the person or persons entitled to receive the Option pursuant to the applicable laws of descent and distribution. For Options granted under the Prior Plan, except as otherwise specified by the Committee in the Award Agreement, Options shall become vested and exercisable with respect to one-fourth of the shares of Stock subject to such Options on each of the first four anniversaries of the date of the Date of Grant.

**(c) <u>Term of Option</u>**. Each Option granted on or after the Effective Date shall expire at such time as determined by the Committee; provided, however, that no Option shall be exercisable later than the 10th anniversary the Date of Grant. With respect to Options granted under the Prior Plan, except as otherwise set forth in the Award Agreement, each Option shall expire immediately and without any payment, upon the earlier of (i) the tenth (10<sup>th</sup>) anniversary of the date the Option is granted, and (ii) either (x) 180 days after the date the Participant who is holding the Option ceases to be a director, officer, employee or consultant of the Company or its Subsidiaries for any reason other than the Participant's death or (y) six months after the date the Participant who is holding the Option ceases to be a director, officer, employee or consultant of the Company or its Subsidiaries by reason of the Participant's death.

**(d) <u>Payment</u>**. The exercise price for any Option shall be paid in cash or shares of Stock held for longer than 6 months (through actual tender or by attestation). In the Award Agreement, the Committee also may prescribe other methods by which the exercise price of an Option may be paid, the form of payment including, without limitation, any net-issuance arrangement or other property acceptable to the Committee (including broker-assisted "cashless exercise" arrangements), and the methods by which shares of Stock shall be delivered or deemed to be delivered to Participants. The Committee, in consideration of applicable accounting standards and applicable law, may waive the 6-month share-holding period described in the first sentence of this paragraph (d) in the event payment of an Option is made through the tendering of shares.

**(e) <u>Repricing of Options</u>**. Notwithstanding any other provision in the Plan to the contrary, without the approval of the Company's stockholders, an Option may not be amended, modified or repriced to reduce the exercise price after the Date of Grant. Except as otherwise provided in Section 10 with respect to an adjustment in capitalization, an Option also may not be surrendered in consideration of or exchanged for cash, other Awards or a new Option having an exercise price below the exercise price of the Option being surrendered or exchanged.

**6.2** **<u>INCENTIVE STOCK OPTIONS</u>**. Incentive Stock Options shall be granted only to Participants who are employees and the terms of any Incentive Stock Options granted pursuant to the Plan must comply with the following additional provisions of this Section 6.2:

**(a) <u>Exercise Price</u>**. Subject to Section 6.2(d), the exercise price per share of Stock pursuant to any Incentive Stock Option shall be set by the Committee, provided that the exercise price for any Incentive Stock Option shall not be less than the Fair Market Value of one share of Stock as of the Date of Grant.

**(b) <u>Lapse of Option</u>**. An Incentive Stock Option shall lapse in the following circumstances:

**(i)** The Incentive Stock Option shall lapse 10 years from the Date of Grant, unless an earlier time is set in the Award Agreement;

**(ii)** The Incentive Stock Option shall lapse and be forfeited to the Plan upon a termination of employment for any reason other than the Participant's death or Disability, unless otherwise provided in the Award Agreement; and

**(iii)** If the Participant incurs a termination of employment on account of Disability or death before the Option lapses pursuant to paragraph (i) or (ii) above, the Incentive Stock Option shall lapse and be forfeited to the Plan, unless it is previously exercised, on the earlier of: (1) the scheduled expiration date of the Option; or (2) 12 months after the date of the Participant's termination of employment on account of death or Disability. Upon the Participant's death or Disability, any Incentive Stock Options exercisable at the Participant's death or Disability may be exercised by the Participant's legal representative or representatives, by the person or persons entitled to do so pursuant to the Participant's last will and testament, or, if the Participant fails to make testamentary disposition of such Incentive Stock Option or dies intestate, by the person or persons entitled to receive the Incentive Stock Option pursuant to the applicable laws of descent and distribution.

**(c) <u>Individual Dollar Limitation</u>**. The aggregate fair market value (determined as of the time an Award is made and calculated in accordance with Section 422 of the Code) of all shares of Stock with respect to which Incentive Stock Options are first exercisable by a Participant in any calendar year may not exceed $100,000 or such other limitation as imposed by Section 422(d) of the Code, or any successor provision. To the extent that Incentive Stock Options are first exercisable by a Participant in excess of such limitation, the excess shall be considered Non-Qualified Stock Options.

**(d) <u>10% Owners</u>**. An Incentive Stock Option may be granted to any individual who, at the Date of Grant, owns stock possessing more than 10% of the total combined voting power of all classes of Stock of the Company only if such Option is granted at a price that is not less than 110% of the Fair Market Value on the Date of Grant and the Option is exercisable for no more than 5 years from the Date of Grant.

**(e) <u>Right to Exercise</u>**. Except as provided in Section 6.2(b)(iii), an Incentive Stock Option may be exercised only by the Participant during the Participant's lifetime.

**SECTION 7 - <u>STOCK APPRECIATION RIGHTS</u>**

**7.1 <u>Stock Appreciation Rights</u>**. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant SARs to one or more Participants upon such terms and conditions, and in such amounts, as shall be determined by the Committee. SARs are also subject to the following additional terms and conditions:

**(a) <u>Base Value</u>**. No SAR shall be granted at a base value that is less than the Fair Market Value of one share of Stock on the Date of Grant.

**(b) <u>Exercise of SARs</u>**. SARs shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall, in each instance approve, which need not be the same for all Participants.

**(c) <u>Term of SARs</u>**. Each SAR shall expire at such time as determined by the Committee; provided, however, that no SAR shall be exercisable later than the 10th anniversary the Date of Grant.

**(d) <u>Payment of SAR Amount</u>**. Upon the exercise of a SAR, the Participant shall be entitled to receive the payment of an amount determined by multiplying: (i) the excess, if any, of the Fair Market Value of a share of Stock on the date of exercise, over the base value fixed by the Committee on the Date of Grant; by (ii) the number of shares with respect to which the SAR is exercised. Payment for SARs shall be made in the manner and at the time specified by the Committee in the Award Agreement. At the discretion of the Committee, the Award Agreement may provide for payment of SARs in cash, shares of Stock of equivalent value, or a combination thereof.

**(e) <u>Repricing of SARs</u>**. Notwithstanding any other provision in the Plan to the contrary, without approval of the Company's stockholders, a SAR may not be amended, modified or repriced to reduce the base value after the Date of Grant. Except as otherwise provided in Section 10 with respect to an adjustment in capitalization, a SAR also may not be surrendered in consideration of or exchanged for cash, other Awards or a new SAR having a base value below the base value of the SAR being surrendered or exchanged.

**SECTION 8** - **<u>RESTRICTED STOCK AWARDS AND RESTRICTED STOCK UNIT AWARDS</u>**

**8.1 <u>Restricted Stock awards</u>**. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Restricted Stock Awards to one or more Participants upon such terms and conditions, and in such amounts, as shall be determined by the Committee. Restricted Stock Awards are also subject to the following additional terms and conditions:

**(a) <u>Issuance and Restrictions</u>**. Restricted Stock Awards shall be subject to such conditions and/or restrictions as the Committee may impose (including, without limitation, limitations on transferability, the right to receive dividends, or the right to vote the Stock), which need not be the same for each grant or for each Participant. These restrictions may lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as determined by the Committee. Except as otherwise provided in the Award Agreement, Participants holding shares of Restricted Stock Awards may not exercise voting rights with respect to the shares of Restricted Stock during the period of restriction.

**(b) <u>Forfeiture</u>**. Except as otherwise provided in the Award Agreement or other written document, such as an employment or separation agreement or a change of control agreement, upon a termination of employment (or termination of service in the case of a Consultant or Non-Employee Director) during the applicable period of restriction, Restricted Stock Awards that are at that time subject to restrictions shall lapse and be forfeited to the Plan.

**(c) <u>Evidence of Ownership for Restricted Stock Awards</u>**. Restricted Stock Awards granted pursuant to the Plan may be evidenced in such manner as the Committee shall determine, which may include an appropriate book entry credit on the books of the Company or its duly authorized transfer agent. If certificates representing shares of Stock are registered in the name of the Participant, the certificates must bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Stock Award, and the Company may, in its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse.

**8.2 <u>Restricted Stock Unit awards</u>**. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Restricted Stock Units to one or more Participants upon such terms and conditions, and in such amounts, as shall be determined by the Committee. Restricted Stock Unit Awards are also subject to the following additional terms and conditions:

**(a) <u>Issuance and Restrictions</u>**. Restricted Stock Unit Awards approved by the Committee grant a Participant the right to receive a specified number of shares of Stock, or a cash payment equal to the Fair Market Value (determined as of a specified date) of a specified number of shares of Stock, subject to such conditions and/or restrictions as the Committee may impose, which need not be the same for each grant or for each Participant. These restrictions may lapse separately or in combination at such times, in such circumstances, in such installments, or otherwise, as determined by the Committee.

**(b) <u>Forfeiture</u>**. Except as otherwise provided in the Award Agreement or other written document, such as an employment agreement, separation agreement or a change of control agreement, upon a termination of employment (or termination of service in the case of a Consultant or Non-Employee Director) during the applicable period of restriction, Restricted Stock Unit Awards that are at that time subject to restrictions shall be lapse and be forfeited to the Plan.

**(c) <u>Form and Timing of Payment</u>***.* Payment for vested Restricted Stock Unit Awards shall be made in the manner and at the time designated by the Committee in the Award Agreement. In the Award Agreement, the Committee may provide that payment will be made in cash or Stock, or in a combination thereof. As a general rule, the shares issued under any Restricted Stock Unit Award (or cash delivered pursuant to such Award) will be paid to the Participant in a single lump sum within 60 days following the date on which the Restricted Stock Unit Awards vests. Unless the related Award Agreement is structured to qualify for an exception to the requirements of Section 409A of the Code, such payment is intended to be made at a specified time or pursuant to a fixed schedule under Treasury Regulation Section 1.409A-3(a)(4). Subject to the 6-month delay described in Section 16.11(b), the Restricted Stock Unit Awards that vest upon a Participant's Separation from Service will be issued to the Participant within 60 days following the date of the Participant's Separation from Service.

**SECTION 9 - <u>PERFORMANCE SHARE AWARDS<br></u>**

<br> **9.1** **<u>PERFORMANCE SHARE AWARDS</u>**. Subject to the terms and provisions of the Plan, the Committee, at any time and from time to time, may grant Performance Share Awards to one or more Participants upon such terms and conditions, restrictions and in such amounts, as shall be determined by the Committee. These restrictions may lapse separately or in combination at such times, in such circumstances, in such installments, or otherwise, as determined by the Committee.

**9.2** **<u>FORFEITURE</u>**. Except as otherwise provided in the Award Agreement or other written document, such as an employment agreement, separation agreement or a change of control agreement, upon a termination of employment (or termination of service in the case of a Consultant or Non-Employee Director) during the applicable performance period, Performance Share Awards that have not yet vested based on the attainment of the applicable performance goals shall lapse and be forfeited to the Plan.

**9.3** **<u>FORM AND TIMING OF PAYMENT</u>***.* Payment for vested Performance Share Awards shall be made in the manner and at the time designated by the Committee in the Award Agreement. In the Award Agreement, the Committee may provide that payment will be made in cash or Stock, or in a combination thereof. As a general rule, the shares issued under any Performance Share Award (or cash delivered pursuant to such Award) will be paid to the Participant in a single lump sum within 60 days following the date on which the Performance Share Award vests.

**SECTION 10 - <u>CHANGES IN CAPITAL STRUCTURE</u>**

**10.1 <u>SHARES AVAILABLE FOR GRANT</u>**. In the event of any change in the number of shares of Stock outstanding by reason of any stock dividend or split, recapitalization, merger, consolidation, combination or exchange of shares or similar corporate change, the maximum aggregate number of shares of Stock available for grant under Sections 5.1 and 5.2, the number of shares of Stock subject to any Award, and any numeric limitation expressed in the Plan shall be appropriately adjusted by the Committee. Any action taken pursuant to this Section 10.1 shall be taken in a manner consistent with the requirements of Section 409A of the Code and, in the case of Incentive Stock Options, in accordance with the requirements of Section 424(a) of the Code.

**10.2 <u>outstanding awards – increase or decrease in issued shares without consideration</u>**. Subject to any required action by the Company's stockholders, in the event of any increase or decrease in the number of issued shares of Stock resulting from a subdivision or consolidation of shares of Stock or the payment of a stock dividend (but only on the shares of Stock), or any other increase or decrease in the number of such shares effected without receipt or payment of consideration by the Company, the Committee shall proportionally adjust the number of shares of Stock subject to each outstanding Award and the exercise price per share of Stock of each such Award. Any action taken pursuant to this Section 10.2 shall be taken in a manner consistent with the requirements of Section 409A of the Code and, in the case of Incentive Stock Options, in accordance with the requirements of Section 424(a) of the Code.

**10.3 <u>outstanding awards – CERTAIN MERGERS</u>**. Subject to any required action by the Company's stockholders, in the event that the Company shall be the surviving corporation in any merger or consolidation (except a merger or consolidation as a result of which the holders of shares of Stock receive securities of another corporation), each Award outstanding on the date of such merger or consolidation shall pertain to and apply to the securities that a holder of the number of shares of Stock subject to such Award would have received in such merger or consolidation. Any action taken pursuant to this Section 10.3 shall be taken in a manner consistent with the requirements of Section 409A of the Code and, in the case of Incentive Stock Options, in accordance with the requirements of Section 424(a) of the Code.

**10.4 <u>outstanding awards – OTHER CHANGES</u>**. In the event of any other change in the Company's capitalization or corporate change other than those specifically referred to in this Section 10, the Committee may, in its absolute discretion, make such adjustments in the number and class of shares subject to Awards outstanding on the date on which such change occurs and in the per share exercise price of each Award as the Committee may consider appropriate to prevent the dilution or enlargement of rights relating to Awards granted under the Plan. Any action taken pursuant to this Section 10.4 shall be taken in a manner consistent with the requirements of Section 409A of the Code and, in the case of Incentive Stock Options, in accordance with the requirements of Section 424(a) of the Code.

**10.5 <u>NO OTHER RIGHTS</u>**. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger or consolidation of the Company or any other corporation. Except as expressly provided in the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Stock subject to an Award or the exercise price of any Award.

**SECTION 11** **- <u>CHANGE OF CONTROL</u>**

**11.1 <u>treatment of awards – assumption/substitution</u>**. Except as otherwise provided in an Award Agreement or other written document, such as an employment agreement or a change of control agreement, if a Change of Control occurs and Awards are converted, assumed, or replaced by a successor, the Committee shall have the discretion to cause all outstanding Awards to become fully exercisable and all restrictions on outstanding Awards to lapse.

**11.2 <u>treatment of award – NO assumption/substitution</u>**. Except as otherwise provided in an Award Agreement or other written document, such as an employment agreement or a change of control agreement, if a Change of Control occurs and Awards are not converted, assumed, or replaced by a successor, all outstanding Awards shall automatically become fully exercisable and all restrictions on outstanding Awards shall lapse. To the extent that this provision causes Incentive Stock Options to exceed the dollar limitation set forth in Section 6.2(c), the excess Options shall be deemed to be Non-Qualified Stock Options. Upon, or in anticipation of, such an event, the Committee may cause every Award outstanding hereunder to terminate at a specific time in the future and shall give each Participant the right to exercise Awards during a period of time as the Committee, in its sole and absolute discretion, shall determine.

**11.3** **<u>PARTICIPANT CONSENT NOT REQUIRED</u>**. Nothing in this Section 11 or any other provision of this Plan is intended to provide any Participant with any right to consent to or object to any transaction that might result in a Change of Control and each provision of this Plan shall be interpreted in a manner consistent with this intent. Similarly, nothing in this Section 11 or any other provision of this Plan is intended to provide any Participant with any right to consent to or object to any action taken by the Board or Committee in connection with a Change of Control transaction.

**SECTION 12 - <u>other provisions applicable to awards</u>**

**12.1 <u>award agreements</u>**. All Awards shall be evidenced by an Award Agreement. The Award Agreement shall include such terms and provisions as the Committee determines appropriate including, without limitation, non-solicitation provisions, non-competition provisions, confidentiality provisions, provisions requiring compliance with restrictive covenant provisions the Committee deems appropriate and, at all times after the consummation of the initial offering of the Stock to the public (the "IPO"), the Company's Code of Ethics and Business Conduct. The terms of the Award Agreement may vary depending on the type of Award, the employee or classification of the employee to whom the Award is made, the jurisdiction where the Participant is located and such other factors as the Committee deems appropriate.

**12.2 <u>FORM OF PAYMENT</u>**. Subject to the provisions of this Plan, the Award Agreement and any applicable law, payments or transfers to be made by the Company or any Subsidiary on the grant, exercise, or settlement of any Award may be made in such form as determined by the Committee including, without limitation, cash, Stock, other Awards, other property, or any combination thereof, and may be made in a single payment or transfer, in installments, or any combination thereof, in each case determined by rules adopted by the Committee.

**12.3 <u>LIMITS ON TRANSFER</u>**.

**(a) <u>General</u>**. Except as provided in Section 6.1(b), Section 6.2(b)(iii), Section 12.3(b) or Section 12.4, no Award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, to, or in favor of, any party other than the Company or a Subsidiary, until the expiration of any period during which any vesting or transfer restrictions are applicable to the Award as determined by the Committee.

**(b) <u>Transfer to Family Members</u>**. The Committee shall have the authority, in its discretion, to grant (or to sanction by way of amendment to an existing Award) Awards which may be transferred by the Participant during his or her lifetime to any Family Member. Unless transfers for the Participant have been previously approved by the Committee, the transfer of an Award to a Family Member may only be affected by the Company at the written request of the Participant. In the event an Award is transferred pursuant to this Section 12.3(b), such transferred Award may not be subsequently transferred by the transferee, except by will or the laws of descent and distribution. A transferred Award shall continue to be governed by and subject to the terms and limitations of the Plan and the relevant Award Agreement, and the transferee shall be entitled to the same rights as the Participant, as if the transfer had not taken place.

**12.4 <u>Beneficiaries</u>**. Notwithstanding Section 12.3(a), a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant's death. A beneficiary, legal guardian, legal representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and Award Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee. If no beneficiary has been designated or survives the Participant, payment shall be made to the person entitled thereto pursuant to the Participant's will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the change or revocation is provided to the Committee.

**12.5 <u>EVIDENCE OF OWNERSHIP</u>**. Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates, make any book entry credits, or take any other action to evidence shares of Stock pursuant to the exercise of any Award, unless and until the Company has determined, with advice of counsel, that the issuance and delivery of such certificates, book entry credits, or other evidence of ownership is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the NASDAQ listing standards (or the rules of any exchange on which the Stock is then listed). All Stock certificates, book entry credits, or other evidence of ownership delivered pursuant to the Plan are subject to any stop-transfer orders and other restrictions as the Company deems necessary or advisable to comply with federal, state, or foreign jurisdiction, securities or other laws, rules and regulations and the NASDAQ listing standards (or the rules of any exchange on which the Stock is then listed). If certificates representing shares of Stock are registered in the name of the Participant, the certificates must bear an appropriate legend referring to the applicable terms, conditions, and restrictions and the Company may, in its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse. In addition to the terms and conditions provided herein, the Company may require that a Participant make such reasonable covenants, agreements, and representations as the Company, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements.

**12.6 <u>CLAWBACK</u>**. Every Award issued pursuant to this Plan is subject to potential forfeiture or recovery to the fullest extent called for by law, any applicable listing standard, or any current or future clawback policy that may be adopted by the Company from time to time, including, without limitation, any clawback policy adopted to comply with the final rules issued by the Securities and Exchange Commission and the final listing standards to be adopted by the NASDAQ pursuant to Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. By accepting an Award, each Participant consents to the potential forfeiture or recovery of their Awards pursuant to applicable law, listing standard, and/or Company clawback policy, and agrees to be bound by and comply with the clawback policy and to return the full amount required by the clawback policy. As a condition to the receipt of any Award, a Participant may be required to execute any requested additional documents consenting to and agreeing to abide by the Company clawback policy as it may be amended from time to time.

**12.7** **<u>DIVIDEND EQUIVALENTS</u>**. In the event an Award Agreement for any Award calls for the grant of dividend equivalents, such dividend equivalents shall be payable in accordance with the requirements of Section 409A or an exception thereto. With respect to any Award that vests based on the achievement of performance goals, in no event will any dividend equivalents vest or be paid prior to the vesting of the corresponding Award and such dividend equivalents shall only be paid to the Participant if and to the extent that the performance goals related to the corresponding Award are satisfied.

**SECTION 13 - <u>AMENDMENT, MODIFICATION, AND TERMINATION</u>**

**13.1 <u>AMENDMENT, MODIFICATION AND TERMINATION OF THE PLAN</u>**. With the approval of the Board, the Committee may, at any time and from time to time, terminate, amend or modify the Plan; provided, however, that (a) to the extent necessary and desirable to comply with any applicable law, regulation, or NASDAQ listing rule (or the rules of any exchange on which the Stock is then listed), the Company shall obtain stockholder approval of any Plan amendment in such a manner and to such a degree as required; (b) except in the context of an adjustment described in Section 10, stockholder approval is required for any amendment to the Plan that: (i) increases the number of shares available under the Plan; (ii) permits the Committee to grant Options or SARs with an exercise price or base value that is below Fair Market Value on the Date of Grant; (iii) permits the Committee to extend the exercise period for any Option or SAR beyond 10 years from the Date of Grant; (iv) reprices or reduces the exercise price or base value of any previously granted Options or SARs (or would be treated as a repricing under applicable NASDAQ listing rules or the rules of any exchange on which the Stock is then listed); (v) expands the types of Awards available for grant under the Plan; or (vi) expands the class of individuals eligible to participate in the Plan; and (c) no such action shall be taken that would cause all or part of the payment under any Award to be subject to the additional tax under Section 409A of the Code.

**13.2** **<u>AWARDS PREVIOUSLY GRANTED</u>**. No amendment, modification, or termination of the Plan or any Award under the Plan shall in any manner adversely affect in any material way the rights of the holder under any Award previously granted pursuant to the Plan without the prior written consent of the holder of the Award. Such consent shall not be required if the change: (a) is required by law or regulation; (b) does not adversely affect in any material way the rights of the holder; (c) is required to cause the benefits under the Plan to comply with the requirements of Section 409A of the Code; or (d) is made pursuant to any adjustment described in Section 10.

**SECTION 14 - <u>TAX WITHHOLDING</u>**

The Company shall have the power to withhold, or require a Participant to remit to the Company, up to the maximum statutory amount necessary in the applicable jurisdiction, to satisfy federal, state, and local withholding tax requirements on any Award under the Plan. The Committee may permit the Participant to satisfy a tax withholding obligation by: (a) directing the Company to withhold shares of Stock to which the Participant is entitled pursuant to the Award in an amount necessary to satisfy the Company's applicable federal, state, local or foreign income and employment tax withholding obligations with respect to such Participant; (b) tendering previously-owned shares of Stock held by the Participant for 6 months or longer to satisfy the Company's applicable federal, state, local, or foreign income and employment tax withholding obligations with respect to the Participant (which holding period may be waived in accordance with Section 6.1(d)); (c) a broker-assisted "cashless" transaction; or (d) personal check or other cash equivalent acceptable to the Company.

**SECTION 15 - <u>INDEMNIFICATION</u>**

To the extent allowable pursuant to applicable law, each person who is or shall have been a member of the Committee or of the Board shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by them in connection with or resulting from any claim, action, suit, or proceeding to which they may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by them in settlement thereof, with the Company's approval, or paid by them in satisfaction of any judgment in any such action, suit, or proceeding against them, provided they shall give the Company an opportunity, at its own expense, to handle and defend the same before they undertake to handle and defend it on their behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such person may be entitled under the Company's Articles of Incorporation or Bylaws, resolution or agreement, as a matter of law, or otherwise, or pursuant to any other power the Company may have to indemnify them or hold them harmless.

**SECTION 16 - <u>GENERAL PROVISIONS</u>**

**16.1 <u>No RIGHTS TO AWARDS</u>**. No Participant or other person shall have any claim to be granted any Award and neither the Company nor the Committee is obligated to treat Participants and other persons uniformly.

**16.2 <u>No Stockholders Rights</u>**. No Award gives the Participant any of the rights of a stockholder of the Company unless and until shares of Stock are in fact issued to such person in connection with such Award.

**16.3 <u>NO RIGHT TO Continued employment OR SERVICES</u>**. Nothing in the Plan or any Award Agreement shall interfere with or limit in any way the right of the Company or any Subsidiary to terminate any Participant's employment or service at any time, nor confer upon any Participant any right to continue in the employ or service of the Company or any Subsidiary.

**16.4 <u>unfunded status of awards</u>**. The Company shall not be required to segregate any of its assets to ensure the payment of any Award under the Plan. Neither the Participant nor any other persons shall have any interest in any fund or in any specific asset or assets of the Company or any other entity by reason of any Award, except to the extent expressly provided hereunder. The Plan is an unfunded, performance-based bonus plan for a select group of management or highly compensated employees and is **not** intended to be either an employee pension or welfare benefit plan subject to ERISA.

**16.5** **<u>RELATIONSHIP TO OTHER BENEFITS</u>**. No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary.

**16.6 <u>EXPENSES</u>**. The expenses of administering the Plan shall be borne by the Company and its Subsidiaries.

**16.7 <u>Titles and Headings</u>**. The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control.

**16.8 <u>Securities Law Compliance</u>**. With respect to any Participant who is, on the relevant date, obligated to file reports pursuant to Section 16 of the Exchange Act, transactions pursuant to this Plan are intended to comply with all applicable conditions of Rule 16b-3 or its successors pursuant to the Exchange Act. Notwithstanding any other provision of the Plan, the Committee may impose such conditions on the exercise of any Award as may be required to satisfy the requirements of Rule 16b-3 or its successors pursuant to the Exchange Act. To the extent any provision of the Plan or action by the Committee fails to so comply, it shall be void to the extent permitted by law and voidable as deemed advisable by the Committee.

**16.9 <u>GOVERNMENT AND OTHER REGULATIONS</u>**. The granting of Awards and the issuance of shares and/or cash under the Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. The Company shall be under no obligation to register pursuant to the Securities Act, any of the shares of Stock paid pursuant to the Plan. If the shares of Stock paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act, the Company may restrict the transfer of such shares in such manner as it deems advisable to ensure the availability of any such exemption. The Committee shall impose such restrictions on any Award as it may deem advisable, including without limitation, restrictions under applicable federal securities law, securities trading policies and blackout periods imposed by the Company, under the requirements of the NASDAQ (or the rules of any exchange on which the Stock is then listed), and under any other blue sky or state securities law applicable to such Award.

**16.10 <u>Governing Law</u>**. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the State of Delaware, without regard to the conflict of laws provisions of any jurisdictions. All parties agree to submit to the jurisdiction of the state and federal courts of Delaware with respect to matters relating to the Plan and the Award Agreements and agree not to raise or assert the defense that such forum is not convenient for such party.

**16.11 <u>Section 409A of the Code</u>**.

**(a) <u>General Compliance</u>**. Some of the Awards that may be granted pursuant to the Plan (including, but not necessarily limited to, Restricted Stock Unit Awards and Performance Share Awards) may be considered to be "non-qualified deferred compensation" subject to Section 409A of the Code. If an Award is subject to Section 409A of the Code, the Company intends (but cannot and does not guarantee) that the Award Agreement and this Plan comply with and meet all of the requirements of Section 409A of the Code or an exception thereto and the Award Agreement shall include such provisions, in addition to the provisions of this Plan, as may be necessary to assure compliance with Section 409A of the Code or an exception thereto.

**(b) <u>Delay for Specified Employees</u>**. If, at the time of a Participant's Separation from Service, the Company has any Stock which is publicly traded on an established securities market or otherwise, and if the Participant is considered to be a Specified Employee, to the extent any payment for any Award is subject to the requirements of Section 409A of the Code and is payable upon the Participant's Separation from Service, such payment shall not commence prior to the first business day following the date which is 6 months after the Participant's Separation from Service (or the date of the Participant's death if earlier than the end of the six 6-month period). Any amounts that would have been distributed during such 6-month period will be distributed on the day following the expiration of such6-month period.

**(c) <u>Prohibition on Acceleration or Deferral</u>**. Under no circumstances may the time or schedule of any payment for any Award that is subject to the requirements of Section 409A of the Code be accelerated or subject to further deferral, except as otherwise permitted or required pursuant to regulations and other guidance issued pursuant to Section 409A of the Code. If the Company fails to make any payment pursuant to the payment provisions applicable to an Award that is subject to Section 409A of the Code, either intentionally or unintentionally, within the time period specified in such provisions, but the payment is made within the same calendar year, such payment will be treated as made within the specified time period. In addition, in the event of a dispute with respect to any payment, such payment may be delayed in accordance with the regulations and other guidance issued pursuant to Section 409A of the Code.

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| | |
|:---|:---|
| **RVELOCITY, INC.** | **RVELOCITY, INC.** |
| By: | */s/ Paul Kacir* |
|  | Paul Kacir |
|  | CEO |

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**<u>GLOSSARY</u>**

**(a)** "**<u>Award</u>**" means any Option, Stock Appreciation Right, Restricted Stock Award, Performance Share Award, or Restricted Stock Unit Award granted to a Participant under the Plan.

**(b)** "**<u>Award Agreement</u>**" means any written agreement, contract, or other instrument or document, including an electronic agreement or document, evidencing an Award, regardless of whether the Participant's signature or acknowledgement is required.

**(c)** "**<u>Board</u>**" means the Company's Board of Directors, as constituted from time to time.

**(d)** "**<u>Cause</u>**" means and will exist in the following circumstances in which the Participant: (i) is convicted of a felony; (ii) engages in any fraudulent or other dishonest act to the detriment of the Company; (iii) fails to report for work on a regular basis, except for periods of authorized absence or bona fide illness; (iv) misappropriates trade secrets, customer lists, or other proprietary information belonging to the Company for their own benefit or for the benefit of a competitor; (v) engages in any willful misconduct designed to harm the Company or its stockholders; or (vi) fails to perform properly their assigned duties. The definition of "Cause" in this Plan shall be superseded by the definition of "Cause" in any applicable change of control agreement or employment agreement that a Participant has with the Company.

**(e)** "**<u>Change of Control</u>**"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i)** For Awards granted under the Prior Plan, the term Change of Control shall be defined by reference to the definition of Change of Control in the Prior Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** For Awards granted on or after the Effective Date, the term Change of Control means any of the following: (i) a sale, transfer, or other disposition by the Company through a single transaction or a series of transactions of securities of the Company representing 50% or more of the combined voting power of the Company's then-outstanding securities to any "Unrelated Person" or "Unrelated Persons" acting in concert with one another; (ii) a sale, transfer, or other disposition through a single transaction or a series of related transactions of all or substantially all of the assets of the Company to an Unrelated Person or Unrelated Persons acting in concert with one another; or (iii) any consolidation or merger of the Company with or into an Unrelated Person, unless immediately after the consolidation or merger the holders of the common stock of the Company immediately prior to the consolidation or merger are the beneficial owners of securities of the surviving corporation representing at least 50% of the combined voting power of the surviving corporation's then outstanding securities. For purposes of this definition, the term "<u>Person</u>" shall mean and include any individual, partnership, joint venture, association, trust, corporation, or other entity (including a "group" as referred to in Section 13(d)(3) of the Exchange Act) and the term "**<u>Unrelated Person</u>**" shall mean and include any Person other than the Company, or an employee benefit plan of the Company

i

A Change of Control will not be deemed to have occurred for purposes of the Plan until the transaction (or series of transactions) that would otherwise be considered a Change of Control closes. The transfer of Stock or assets of the Company in connection with a bankruptcy filing by or against the Company under Title 11 of the United States Code will not be considered to be a Change of Control for purposes of this Plan. Notwithstanding the foregoing a Change of Control shall not occur for purposes of this Plan in the case of Awards that are subject to the requirements of Section 409A of the Code unless such Change of Control constitutes a "change in control event" as defined in Section 409A of the Code and the regulations thereunder. The definition of "Change of Control" in this Plan shall be superseded by the definition of "Change of Control" in any applicable change of control agreement or employment agreement that a Participant has with the Company.

**(f)** "**<u>Code</u>**" means the Internal Revenue Code of 1986, as amended. All references to the Code shall be interpreted to include a reference to any applicable regulations, rulings or other official guidance promulgated pursuant to such section of the Code.

**(g)** "**<u>Committee</u>**" means the Committee identified in Section 4.1.

**(h)** "**<u>Company</u>**" means RVeloCITY, Inc., a Delaware corporation.

**(i)** "**<u>Compensation Committee</u>**" means the Compensation Committee of the Board and shall consist of at least two individuals, where at least two of them qualify as: (i) a Non-Employee Director; and (ii) an "independent director" for purposes of the NASDAQ listing standards. The composition of the Compensation Committee may change from time to time in recognition of, response to, or in anticipation of, changes in applicable laws, rules, or regulations, including, without limitation, the Code and the NASDAQ listing standards (or the rules of any exchange on which the Stock is then listed).

**(j)** "**<u>Consultant</u>**" means a consultant or advisor that provides bona fide services to the Company or any Subsidiary as an independent contractor and not as an employee; provided, however, that such person may become a Participant in the Plan only if the Consultant: (i) is a natural person; and (ii) does not provide services in connection with the offer or sale of the Company's securities in a capital-raising transaction and does not promote or maintain a market for the Company's securities.

**(k)** "**<u>Date of Grant</u>**" means the date the Committee approves the Award or a date in the future on which the Committee determines the Award will become effective.

**(l)** "**<u>Disability</u>**" means that the Participant qualifies to receive long-term disability payments under the Company's long-term disability insurance program, as it may be amended from time to time but, for purposes of any Incentive Stock Option, "Disability" shall have the meaning ascribed to it in Section 22(e)(3) of the Code. Except in the case of an Incentive Stock Option, the definition of "Disability" in this Plan shall be superseded by the definition of "Disability" in any applicable change of control agreement or employment agreement that a Participant has with the Company.

**(m)** "**<u>Effective Date</u>**" has the meaning set forth in Section 1.3.

ii

**(n)** "**<u>ERISA</u>**" means the Employee Retirement Income Security Act of 1974, as amended. All references to a section of ERISA shall be interpreted to include a reference to any applicable regulations, rulings or other official guidance promulgated pursuant to such section of ERISA.

**(o)** "**<u>Exchange Act</u>**" means the Securities Exchange Act of 1934, as amended from time to time. All references to the Exchange Act shall be interpreted to include a reference to any applicable regulations, rulings or other official guidance promulgated pursuant to such section of the Exchange Act.

**(p)** "**<u>Expiration Date</u>**" means the 10th anniversary of the Effective Date.

**(q)** "**<u>Fair Market Value</u>**" means, as of any given date, the fair market value of Stock on a particular date determined by such methods or procedures as may be established from time to time by the Committee. Unless otherwise determined by the Committee, the Fair Market Value of Stock as of any date shall be the closing price for the Stock as reported on the NASDAQ (or on any national securities exchange on which the Stock is then listed) for that date or, if no such prices are reported for that date, the average of the high and low trading prices on the next preceding date for which such prices were reported.

**(r)** "**<u>Family Member</u>**" means a Participant's spouse and any parent, stepparent, grandparent, child, stepchild, or grandchild, including adoptive relationships or a trust or any other entity in which these persons (or the Participant) have more than 50% of the beneficial interest.

**(s)** "**<u>Incentive Stock Option</u>**" means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

**(t)** "**<u>Non-Employee Director</u>**" means a member of the Board who qualifies as a "Non-Employee Director" as defined in Rule 16b-3(b)(3) of the Exchange Act, or any successor definition adopted by the Board.

**(u)** "**<u>Non-Qualified Stock Option</u>**" means an Option that is not intended to be an Incentive Stock Option.

**(v)** "**<u>Option</u>**" means a right granted to a Participant under Section 6, to purchase Stock at a specified price during specified time periods. An Option may be either an Incentive Stock Option or a Non-Qualified Stock Option.

**(w)** "**<u>Performance Share Award</u>**" means a right granted to a Participant under Section 9, to receive cash or Stock, the payment of which is contingent upon achieving certain performance goals established by the Committee.

**(x)** "**<u>Plan</u>**" means this RVeloCITY, Inc. Amended and Restated Omnibus Incentive Compensation Plan, as amended from time to time.

**(y)** "**<u>Restricted Stock Award</u>**" means Stock granted to a Participant under Section 8 that is subject to certain restrictions and risk of forfeiture as determined by the Committee.

iii

**(z)** "**<u>Restricted Stock Unit Award</u>**" means a right granted to a Participant under Section 8, to receive cash or Stock, the payment of which is subject to certain restrictions and risk of forfeiture as determined by the Committee.

**(aa)** "**<u>Securities Act</u>**" means the Securities Act of 1933, as amended from time to time. All references to the Securities Act shall be interpreted to include a reference to any applicable regulations, rulings or other official guidance promulgated pursuant to such section of the Securities Act.

**(bb)** "**<u>Separation from Service</u>**" is a term that applies only in the context of an Award that the Company concludes is subject to Section 409A of the Code and shall have the meaning set forth in Section 409A. Whether a Separation from Service has occurred will be determined based on all of the facts and circumstances and in accordance with Section 409A of the Code. In the case of a Non-Employee Director, Separation from Service means that such member has ceased to be a member of the Board. Whether a Consultant has incurred a Separation from Service will be determined in accordance with Treasury Regulation Section 1.409A-1(h).

**(cc)** "**<u>Specified Employee</u>**" means certain officers and highly compensated employees of the Company as defined in Treasury Regulation Section 1.409A-1(i).

**(dd)** "**<u>Stock</u>**" means, prior to the consummation of the IPO, Class B common stock of the Company and, after the consummation of the IPO, the Class A common stock of the Company, and such other securities of the Company that may be substituted for Stock pursuant to Section 10.

**(ee)** "**<u>Stock Appreciation Right</u>**" or "**<u>SAR</u>**" means a right granted to a Participant under Section 7 to receive the appreciation on Stock.

**(ff)** "**<u>Subsidiary</u>**" means any corporation or other entity of which at least a majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company.

iv

## Exhibit 10.2

**Exhibit 10.2**

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

This Employment Agreement ("Agreement") is made as of November 30<sup>th</sup>, 2021 by and between RVeloCITY, Inc., doing business as RVnGO and Peerage Insurance, an Arizona corporation having its principal office at 2801 E Camelback Road, Suite 200, Scottsdale, Arizona 85016, USA (hereinafter the "Company") and Paul Kacir, an Individual with an address at (hereinafter the "Team Member"). Team Member and Company (each a "party", collectively the "parties") agree that this Agreement supersedes and replaces in its entirety the Consulting Agreement previously executed by the parties as of April 9, 2020, as well as all other Consulting or Employment Agreements previously agreed by the parties prior to that Consulting Agreement, and all other understandings or representations of the parties, whether written or otherwise. Team Member is considered to have begun employment with Company on May 1, 2015 (the "**Start Date**").

**WITNESSETH:**

WHEREAS, the Team Member and the Company intend to enter into this Agreement upon the terms and conditions set forth herein and it will constitute the sole and exclusive agreement between them relating to Team Member's provision of employment services to the Company.

NOW, THEREFORE, in consideration of the foregoing premises, and the mutual covenants, terms and conditions set forth herein, it is hereby agreed between Company and Team Member as follows:

**ARTICLE 1. <u>Employment</u>**

1. <u>Employment</u> 

1.1 The
 Company hereby employs the Team Member, and the Team Member hereby accepts the employment,
 on an at-will basis for full-time employment services. The Team Member will initially report
 to the Board of Directors. The Team Member's initial title will be Chief Executive
 Officer, which the Company may also change from time to time.

1.2 Without
 limiting the generality of the foregoing scope of employment, the Team Member's duties
 will include those assigned by the Company.

1.3 The
 Team Member and the Company acknowledge that the Team Member's employment is a work
 for hire arrangement and that all work product of the Team Member is the sole product of,
 and all rights therein are owned by, the Company

1.4 Either
 party may terminate this Agreement at any time, for any reason whatsoever, provided, however,
 that Articles III, IV, VI, VII, VIII and XI of this Agreement shall survive any termination
 of this Agreement.

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

1.5 <u>Severance.</u> If Team Member's employment is terminated by Company without Cause (other than
 due to death or due to Disability), then Team Member shall be entitled to continuation of
 Team Member's Base Salary (as defined in Section 2.1) (the "Severance Payments")
 for a period of x months, where x equals the number of years Team Member has been employed
 by Company under this Agreement, and any predecessor Agreement if applicable. If Team Member
 is employed for a period less than a year, they will be entitled to the applicable statutory
 minimum severance amount. Such period shall commence on the first payroll processing day
 following the date employment terminates, in accordance with Company's regular payroll
 practices and procedures. If Team Member's employment is terminated by Company with
 cause, Team Member will not be entitled to any Severance Payments.

**ARTICLE 2. <u>Compensation</u>**

2. <u>Compensation</u> 

2.1 The
 Team Member shall be paid an annual salary of $300,000 ("Base Salary") paid bi-weekly
 in the gross amount of $11,538.46 less applicable deductions.

2.2 The
 Team Member will be eligible for an incentive cash bonus of up to 100% of the Team Member's
 base salary determined in the sole discretion of the Company taking into consideration the
 Company's financial position and the achievement of Company and individual Team Member
 goals and the contribution of the Team Member to the Company's success and promoting
 the Company's values.

2.3 The
 Team Member will be reimbursed for business expenses reasonably incurred on behalf of the
 Company and in accordance with the Company's expense policies.

2.4 The
 Company may provide benefits from time to time in accordance with whatever benefit plan the
 Company has in place at the time. Team Member is eligible for coverage under whatever such
 plan is in place during the course of their Employment.

2.5 Standard
 paid time off is set out in the Company's Employee Handbook.

2.6 Paid
 Holidays are as follows: New Year's Day, Memorial Day, July 4th, Labor Day, Thanksgiving
 and Christmas Day.

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**ARTICLE 3. <u>Equity Compensation</u>**

3. <u>Equity Compensation</u> 

3.1 An
 initial one-time grant of 500,000 two (2) year options to purchase Class "A"
 Common Shares of the Company for an exercise price of $0.30 per share (the "2 Year
 Options") awarded and subject to the Company's Evergreen Omnibus Incentive Compensation
 Plan, plus possible additional 2 Year Option grants from time-to-time in the sole discretion
 of the Company and grants of Options or Warrants to purchase Class "A" Common
 Shares in lieu of salary (the "Vested Options"). The 2 Year Options will vest
 50% on the first anniversary of April 9, 2020 *,* with the balance vesting on the second
 anniversary, subject to the accelerated vesting terms in the Change in Control provision
 in Section 11, as applicable. The Vested Options shall immediately vest upon issuance. Both
 the 2 Year Options and the Vested Options shall have a term of 10 years. For greater certainty,
 the details of all options granted pursuant to this Agreement or otherwise are set out in
 the attached *Schedule A – Shares, Options & Warrants Schedule*.

3.2 The
 Team Member will be eligible to participate in the Company's 360 Review Process which
 may allocate and issue additional equity incentive compensation and cash incentive compensation
 on an annual basis.

3.3 In
 the event that this Agreement is terminated for any reason by the Company in the first three
 months (the probation period) any equity compensation awarded hereunder will be cancelled
 without further compensation to the Team Member; thereafter any equity compensation previously
 awarded to the Team Member will continue to vest for one year after such termination date,
 and the Team Member may exercise any vested equity compensation within such one year period
 but subject to the term of the equity compensation, or if the Team Member enters into a mutual
 release of claims between the Team Member and the Company then such vested equity compensation
 may be exercised during the remaining term of the equity compensation. In the event that
 the Team Member terminates this agreement, any vesting schedules will also terminate immediately
 and the Team Member will have 30 days to exercise any vested equity compensation and further
 subject to the term of the equity compensation. Exercise of any vested equity compensation
 will continue to be subject to the terms of the Evergreen Omnibus Equity Compensation Plan.

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**ARTICLE 4. <u>Invention, Disclosure, Patent Assignment, Copyright and Social Media</u>**

4. <u>Invention, Disclosure, Patent Assignment, Copyright and Social Media</u> 

4.1 Team
 Member shall promptly disclose in writing to Company complete and accurate information concerning
 each and every invention, discovery, improvement, device, design, apparatus, practice, process,
 software or computer program, method or product, whether or not patentable or copyrightable,
 made, developed, perfected, devised, conceived or first reduced to practice by Team Member,
 either solely or in collaboration with others, during Team Member's engagement and
 during the actual time Team Member is engaged in projects for the Company and which relate
 to the business of the Company (an "Invention").

4.2 Any
 and all Inventions relating to the actual or contemplated business, technologies or products
 of Company are and shall be the exclusive property of Company (collectively, the "Company
 Inventions"). Team Member hereby assigns to Company any and all of Team Member's
 right, title and interest in and to any and all of the Company Inventions, without further
 payment or other form of consideration. Team Member agrees to execute such additional applications,
 assignments and other documents, and to perform such other actions, as Company may in the
 future reasonably request in order to confirm in Company the rights granted pursuant to this
 Section 4.2.

4.3 If
 Team Member develops an Invention which Team Member believes is not a Company Invention,
 Team Member shall disclose in writing to Company all information reasonably requested by
 Company from time to time concerning such Invention for the purpose of permitting Company
 to confirm, determine and/or verify that the Invention is not a Company Invention. If Company
 determines that such Invention is a Company Invention, Team Member shall not disclose, assign,
 license, use, sell or in any other manner exploit such Invention until the question of whether
 it is a Company Invention has been finally resolved, either by agreement between Company
 and Team Member or by final, non-appealable order entered by a court of competent jurisdiction.

4.4 Upon
 the request of Company and without further compensation therefore, whether during the term
 of Team Member's engagement or thereafter, Team Member shall perform all lawful acts,
 including, but not limited to, the execution of papers and lawful oaths and the giving of
 testimony, that in the opinion of Company, its successors and assigns, may be necessary or
 desirable in obtaining, sustaining, reissuing, extending and enforcing United States and
 foreign Letters Patent, including, but not limited to, design patents, on any and all of
 Company Inventions, and for perfecting, affirming and recording Company's complete
 ownership of and title thereto.

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

4.5 Team
 Member shall keep complete, accurate and authentic accounts, notes, data and records of all
 of the Inventions in the manner and form requested by Company. Such accounts, notes, data
 and records relating to Company Inventions shall be the exclusive property of Company, and,
 upon its request, Team Member shall promptly surrender the same to Company or, if not previously
 surrendered upon Company's request or otherwise, Team Member shall surrender the same,
 and all copies thereof, to Company upon the conclusion of his engagement.

4.6 Team
 Member understands that Company may enter into agreements or arrangements with agencies of
 the United States Government, and that Company may be subject to laws and regulations which
 impose obligations, restrictions and limitations on it with respect to inventions and patents
 which may be acquired by it or which may be conceived or developed by employees, Team Members
 or other agents rendering services to it. Team Member agrees that he shall be bound by all
 such obligations, restrictions and limitations applicable to any said invention conceived
 or developed by him during the term of his engagement and shall take any and all further
 action which may be required to discharge such obligations and to comply with such restrictions
 and limitations.

4.7 Any
 social media contacts, including "followers" or "friends" that are
 acquired through accounts (including but not limited to email addresses, blogs, Twitter,
 Facebook, YouTube, Instagram or other social media networks) used or created on behalf of
 the Company are the exclusive property of the Company.

**ARTICLE 5. <u>Ventures</u>**

5. <u>Ventures</u> 

5.1 If,
 during the term of his engagement, Team Member is engaged in or associated with the research,
 investigation, planning or implementation of any project, program or venture on behalf of
 or involving Company, all rights in the project, program or venture shall belong exclusively
 to Company and shall constitute an opportunity belonging exclusively to Company. Except as
 approved in advance and in writing by Company, Team Member shall not be entitled to any interest
 in such project, program or venture or to any commission, finder's fee or other compensation
 in connection therewith.

**ARTICLE 6. <u>Non-Competition & Non-Solicitation</u>**

6. <u>Non-Competition & Non-Solicitation</u> 

6.1 For
 purposes of this Article VI, the term "Company" includes Company, its subsidiaries
 and affiliates, and any other business enterprises through which Company conducts business
 from time to time, whether alone or with others.

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

6.2 Team
 Member agrees that during his engagement with Company and for a period of two (2) years thereafter,
 Team Member shall not become employed by, become a director, officer, shareholder, partner,
 manager or member of, or Team Member to, or otherwise enter into, conduct, or advise or assist
 any business, other than that of Company (or any successor to the operations of Company)
 that (a) engages in direct or indirect competition with Company in any geographic market
 in which Company does business or has developed tangible plans to commence doing business
 during the period of Team Member's engagement (a "Geographic Market"),
 (b) conducts in any Geographic Market a business of the type or character engaged in by Company
 or (c) develops products or services competitive with those of Company for sale or other
 use in any Geographic Market. Ownership of not more than five percent (5%) of the issued
 and outstanding shares of a class of securities of a corporation, the securities of which
 are traded on a national securities exchange or in the over-the-counter market shall not
 cause Team Member to be in violation of this provision.

6.3 During
 the period set forth in Section 6.2 above, Team Member shall not (a) solicit, divert or take
 away, or attempt to divert or take away, the business or patronage of any of the clients,
 customers or accounts of Company, or any of the prospective clients, customers or accounts
 of Company which were contacted, solicited or served by Company during the time Team Member
 was engaged by Company, or (b) directly or indirectly recruit, solicit or hire any employee
 of Company, or induce or attempt to induce any employee of Company to discontinue his employment
 relationship with Company.

6.4 Team
 Member acknowledges and agrees that the foregoing agreements are a material inducement to
 Company in engaging Team Member, and that Team Member has had a full and fair opportunity
 to consider the advisability of entering into such agreements and to seek legal advice in
 connection with such consideration. If, despite the mutual intentions of Company and Team
 Member, any provision of this Article VI is determined by any court of competent jurisdiction
 to be invalid, illegal or unenforceable, in whole or in part, the offending provision shall
 not affect the enforceability of the remaining provisions of this Agreement, and Team Member
 and Company shall promptly and in good faith negotiate a replacement provision that is fully
 enforceable and gives maximum effect to the intentions of Team Member and Company in entering
 into a consulting relationship.

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**ARTICLE 7. <u>Confidentiality</u>**

7. <u>Confidentiality</u> 

7.1 During
 the course of the engagement pursuant to this Agreement, or any previous agreements, Team
 Member has been and will be privy to information belonging to or received in confidence by
 Company or its subsidiaries or affiliates which information is valuable to Company and which
 information Company believes to be novel and which it holds in confidence for itself or third
 parties. Except as permitted or directed by Company, Team Member shall not during the term
 of his engagement or at any time thereafter, divulge, furnish, disclose, make accessible
 or use (other than in the ordinary course of business of Company) any Confidential Information
 (as defined below). "Confidential Information" includes, without limitation,
 confidential designs, processes or formulae; confidential software or computer programs;
 the identities of Company's customers and suppliers and the terms under which Company
 deals with them; confidential marketing, sales, product development, financing or engineering
 plans; confidential strategic or other business plans; confidential development or research
 work of Company; and any other confidential aspects of the business of Company. For purposes
 of this Agreement, a matter is "confidential" if Company identifies it as confidential,
 either before or after disclosure to Team Member, or if Team Member should reasonably know
 that Company regards it as confidential based on the facts and circumstances available to
 Team Member. At the expiration or termination of this Agreement or termination of the engagement
 hereunder, Team Member will, at Company's request, return to Company all written confidential
 information received from Company and destroy any transcriptions or copies Team Member may
 have of such information (including information stored in computer form), unless an alternative
 method of disposition is approved by Company in writing. This section shall survive the termination
 of this Agreement.

**ARTICLE 8. <u>Injunctive Relief</u>**

8. <u>Injunctive Relief</u> 

8.1 Because
 the services to be performed by Team Member hereunder are of a special, unique, unusual,
 confidential, extraordinary and intellectual character which character renders such services
 unique and because Team Member will acquire by reason of his engagement and association with
 Company, an extensive knowledge of Company's trade secrets, customers, procedures,
 and other confidential information, the parties hereto recognize and acknowledge that, in
 the event of a breach or threat of breach by Team Member of any of the terms and provisions
 contained in Article IV, V, VI or VII of this Agreement, monetary damages alone to Company
 would not be an adequate remedy for a breach of any of such terms and provisions. Therefore,
 it is agreed that in the event of a breach or threat of a breach of any of the provisions
 of Article IV, V, VI or VII of this Agreement by Team Member, Company shall be entitled to
 an immediate injunction from any court of competent jurisdiction restraining Team Member,
 as well as any third parties whose joinder may be necessary to effect full and complete relief,
 from committing or continuing to commit a breach of such provisions without the showing or
 proving of actual damages. Any preliminary injunction or restraining order shall continue
 in full force and effect until any and all disputes between the parties to such injunction
 or order regarding this Agreement have been finally resolved. Team Member hereby waives any
 right he may have to require Company to post a bond or other security with respect to obtaining
 or continuing any such injunction or temporary restraining order and, further, hereby releases
 Company, its officers, Managers, members, employees and agents from, and waives any claim
 for damages against them which he might have with respect to, Company obtaining in good faith
 any injunction or restraining order pursuant to this Agreement.

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**ARTICLE 9. <u>Absence of Restrictions</u>**

9. <u>Absence of Restrictions</u> 

9.1 Team
 Member hereby represents and warrants that he has full power, authority and legal right to
 enter into this Agreement and to carry out his obligations and duties hereunder and that
 the execution, delivery and performance by Team Member of this Agreement will not violate
 or conflict with, or constitute a default under, any agreements or other understandings to
 which Team Member is a party or by which he may be bound or affected, including, but not
 limited to any order, judgment or decree of any court or governmental agency.

**ARTICLE 10. <u>Invoices, Tax Identification Numbers and Expense Account Receipts</u>**

10. <u>Invoices, Tax Identification Numbers and Expense Account Receipts</u> 

10.1 Invoices,
 tax identification numbers and all expense account receipts shall be submitted to the Company
 at the address specified in Section 12.3 below.

**ARTICLE 11. <u>Change in Control</u>**

11. <u>Change in Control</u> 

11.1 "Change
 in Control" means either (i) a change in ownership or effective control of the Company,
 or (ii) a change in ownership of a substantial portion of the assets of the Company.

11.2 In
 the event of a Change in Control, Team Member will be entitled to receive the following:

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.1 Immediately
 prior to the effective date of a Change in Control, all stock options granted to you and
 not otherwise vested shall vest and become exercisable so that you may participate in the
 Change in Control transaction to the fullest extent feasible. All stock option grants, whether
 vested or subject to accelerated vesting hereunder, will remain exercisable for the remaining
 duration of the applicable 10 year term.

11.2.2 Upon
 a Change in Control, Team Member shall be paid in a lump sum an amount equal to your annual
 Base Salary, as listed in Section 2.1 above.

**ARTICLE 12. <u>Miscellaneous</u>**

12. <u>Miscellaneous</u> 

12.1 This
 Agreement shall be governed by and construed in accordance with the laws of the State of
 Arizona.

12.2 The
 failure of Company or Team Member to insist in any one or more instances upon performance
 of any of the terms, covenants and conditions of this Agreement shall not be construed as
 a waiver or relinquishment of any rights granted under this Agreement or the future performance
 of any such terms, covenants or conditions.

12.3 All
 notices, requests, demands and other communications hereunder shall be in writing and shall
 be deemed to have been duly given if personally delivered, delivered by electronic transmission
 via email or by overnight courier or mailed, registered or certified mail, postage prepaid
 as follows:

If to Company: RVeloCITY, Inc. <br> 2801 E Camelback Road, Suite 200 Scottsdale, AZ 85016 Attention: Attention: Legal <br> <u>Email: legal@rvngo.com</u>

---

| | |
|:---|:---|
| If to Team Member: | Name: Paul Kacir |
|  | Address: |
|  | Telephone: |
|  | Personal <u>Email:</u> |

---

or at such other address or addresses as any such party may have furnished to the other party in writing.

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

12.4 This
 Agreement is for employment services and is therefore not assignable by the Team Member.
 This Agreement is freely assignable by the Company.

12.5 This
 Agreement sets forth the entire agreement between Company and Team Member regarding the terms
 of Team Member's engagement by the Company and supersedes all prior agreements between
 Company and Team Member covering the terms of the engagement. This Agreement may not be amended
 or modified except in a written instrument signed by Company and Team Member identifying
 this Agreement and stating the intention to amend or modify it. This agreement shall create
 no third-party beneficiary rights.

IN WITNESS WHEREOF, Company has caused this Agreement to be executed by one of its duly authorized officers and Team Member has individually executed this Agreement, each intending to be legally bound, as of the date first above written.

---

| | | | |
|:---|:---|:---|:---|
| **RVeloCITY, Inc.** | **RVeloCITY, Inc.** | **PAUL KACIR** | **PAUL KACIR** |
| Per: | /s/ Gerald Hayden | Sign: | /s/ Paul Kacir |
| Name Printed: **Gerald Hayden** | Name Printed: **Gerald Hayden** | Name Printed: **Paul Kacir** | Name Printed: **Paul Kacir** |
| Title: | **Director** |  |  |
| Date: | December 1, 2021 | Date: | December 1, 2021 |

---

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**<u>SCHEDULE A: LIST OF OPTIONS & WARRANTS</u>**

I. Paul Kacir Summary<br> *Exported as of 03/10/2022*<br>

---

| | | | |
|:---|:---|:---|:---|
| **Shareholder Information** | **Shareholder Information** | **Shareholder Information** | **Shareholder Information** |
| Name: | I. Paul Kacir | Email: | paul@kacirs.com |
| Phone Number: | 602-909-8944 | Shareholder ID: |  |
| Status: | Active | State of Residency: | Arizona |
| Shareholder Type: | Board Member (Employee) | Department: |  |
| Address: | 4848 N 36th Street, Unit 222, Phoenix AZ 8 | Notes: | Notes field test |

---

<u>Holdings Summary</u>  

**<u>Equity Certificates</u>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Security** | **Issue Date** | **Purchase Price** | **Issued** | **Invested Capital** | **Preference** | **Outstanding** |
| CA-1 | Class A Common | 09/20/2016 | $0.13 | 680000 | $85000.00 | $0.00 | 680000 |
| CA-12 | Class A Common | 02/28/2017 | $0.13 | 1112000 | $139000.00 | $0.00 | 1112000 |
| CA-43 | Class A Common | 10/30/2018 | $0.13 | 200000 | $25000.00 | $0.00 | 200000 |
| CB-1 | Class B Common | 09/20/2016 | $0.00 | 4500000 | $0.00 | $0.00 | 4500000 |
| CB-12 | Class B Common | 02/28/2017 | $0.00 | 3000000 | $0.00 | $0.00 | 3000000 |
| CS-173 | Class A Common | 07/01/2020 | $0.13 | 1112000 | $139000.00 | $0.00 | 1112000 |
| CS-227 | Class A Common | 10/30/2021 | $0.13 | 200000 | $25000.00 | $0.00 | 200000 |
| **Total** |  |  |  | **10804000** | $**413000.00** | $**0.00** | **10804000** |

---

www.RvnGO.com

![](ex10-2_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**<u>Derivatives</u>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Equity Plan** | **Issue Date** | **Exercise Price** | **Issued** | **Exercisable Until** | **Vested** | **Outstanding** |
| OG-27 | Evergreen Omnibus Incentive Compen Plan | 10/30/2018 | $0.13 | 1000000 |  | 1000000 | 1000000 |
| OG-46 | Evergreen Omnibus Incentive Compen Plan | 04/09/2020 | $0.30 | 500000 |  | 250000 | 500000 |
| OG-164 | Evergreen Omnibus Incentive Compen Plan | 12/01/2020 | $0.30 | 500000 |  | 250000 | 500000 |
| WG-1 | 3 Year Warrants | 02/28/2017 | $0.13 | 1112000 |  | 0 | 0 |
| WG-9 | 5 Year Warrants | 02/28/2017 | $0.25 | 1112000 |  | 0 | 0 |
| WG-27 | 3 Year Warrants | 10/30/2018 | $0.13 | 200000 |  | 0 | 0 |
| WG-31 | 5 Year Warrants | 10/30/2018 | $0.25 | 200000 |  | 200000 | 200000 |
| WG-35 | 3 Year Warrants | 12/15/2018 | $0.13 | 250000 |  | 0 | 0 |
| WG-36 | 5 Year Warrants | 03/15/2019 | $0.25 | 188000 |  | 188000 | 188000 |
| WG-43 | 5 Year Warrants | 06/30/2020 | $0.30 | 113333 |  | 113333 | 113333 |
| WG-44 | 5 Year Warrants | 07/31/2020 | $0.30 | 113333 |  | 113333 | 113333 |
| WG-45 | 5 Year Warrants | 08/31/2020 | $0.30 | 113333 |  | 113333 | 113333 |
| WG-46 | 5 Year Warrants | 09/30/2020 | $0.30 | 133333 |  | 133333 | 133333 |
| WG-47 | 5 Year Warrants | 10/31/2020 | $0.30 | 133333 |  | 133333 | 133333 |
| WG-48 | 5 Year Warrants | 11/30/2020 | $0.30 | 133333 |  | 133333 | 133333 |
| WG-49 | 5 Year Warrants | 12/31/2020 | $0.30 | 133333 |  | 133333 | 133333 |
| WG-50 | 5 Year Warrants | 01/31/2021 | $0.30 | 133333 |  | 133333 | 133333 |
| WG-51 | 5 Year Warrants | 02/28/2021 | $0.30 | 133333 |  | 133333 | 133333 |
| WG-52 | 5 Year Warrants | 03/31/2021 | $0.30 | 133333 |  | 133333 | 133333 |
| WG-53 | 5 Year Warrants | 04/30/2021 | $0.40 | 133333 |  | 133333 | 133333 |
| WG-54 | 5 Year Warrants | 05/31/2021 | $0.40 | 133333 |  | 133333 | 133333 |
| WG-55 | 5 Year Warrants | 06/30/2021 | $0.50 | 133333 |  | 133333 | 133333 |
| WG-56 | 5 Year Warrants | 07/31/2021 | $0.50 | 133333 |  | 133333 | 133333 |
| WG-62 | 5 Year Warrants | 04/30/2020 | $0.30 | 133333 |  | 133333 | 133333 |
| WG-63 | 5 Year Warrants | 05/31/2020 | $0.30 | 166667 |  | 166667 | 166667 |
| WG-115 | 5 Year Warrants | 03/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-116 | 5 Year Warrants | 01/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-117 | 5 Year Warrants | 02/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-118 | 5 Year Warrants | 04/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-119 | 5 Year Warrants | 05/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-120 | 5 Year Warrants | 06/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-121 | 5 Year Warrants | 07/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-122 | 5 Year Warrants | 08/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-123 | 5 Year Warrants | 09/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| WG-124 | 5 Year Warrants | 12/01/2018 | $0.13 | 80000 |  | 80000 | 80000 |
| WG-125 | 5 Year Warrants | 11/01/2018 | $0.13 | 80000 |  | 80000 | 80000 |
| WG-126 | 5 Year Warrants | 10/01/2018 | $0.13 | 246666 |  | 246666 | 246666 |
| Total |  |  |  | 9795322 |  | 6621322 | 7121322 |

---

www.RvnGO.com

## Exhibit 10.3

**Exhibit 10.3**

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

This Employment Agreement ("Agreement") is made as of November 30th, 2021 by and between RVeloCITY, Inc., doing business as RVnGO and Peerage Insurance, an Arizona corporation having its principal office at 2801 E Camelback Road, Suite 200, Scottsdale, Arizona 85016, USA (hereinafter the "Company") and Bryan Kleinlein, an Individual with an address at (hereinafter the "Team Member"). Team Member and Company (each a "party", collectively the "parties") agree that this Agreement supersedes and replaces in its entirety the Offer Letter previously executed by the parties on September 14, 2021 and all other understandings or representations of the parties, whether written or otherwise. Team Member is considered to have begun employment with Company on September 20, 2021 (the "**Start Date**").

**WITNESSETH:**

WHEREAS, the Team Member and the Company intend to enter into this Agreement upon the terms and conditions set forth herein and it will constitute the sole and exclusive agreement between them relating to Team Member's provision of employment services to the Company.

NOW, THEREFORE, in consideration of the foregoing premises, and the mutual covenants, terms and conditions set forth herein, it is hereby agreed between Company and Team Member as follows:

**ARTICLE I. <u>EMPLOYMENT</u>**

1. <u>Employment</u> 

1.1. The Company hereby
employs the Team Member, and the Team Member hereby accepts the employment, on an at-will basis for full-time employment services. The
Team Member will initially report to the Chief Executive Officer, which the Company may change from time to time for any reason. The
Team Member's initial title will be Chief Financial Officer, which the Company may also change from time to time.

1.2. Without limiting
the generality of the foregoing scope of employment, the Team Member's duties will include those assigned by the Company.

1.3. The Team Member
and the Company acknowledge that the Team Member's employment is a work for hire arrangement and that all work product of the Team
Member is the sole product of, and all rights therein are owned by, the Company.

1.4. Either party may
terminate this Agreement at any time, for any reason whatsoever, provided, however, that Articles III, IV, VI, VII, VIII and XI of this
Agreement shall survive any termination of this Agreement.

1.5. <u>Severance</u>.
If Team Member's employment is terminated by Company without Cause (other than due to death or due to Disability), then Team Member
shall be entitled to continuation of Team Member's Base Salary (as defined in Section 2.1) (the "Severance Payments")
for a period of x months, where x equals the number of years Team Member has been employed by Company under this Agreement, and any predecessor
Agreement if applicable. If Team Member is employed for a period less than a year, they will be entitled to the applicable statutory
minimum severance amount. Such period shall commence on the first payroll processing day following the date employment terminates, in
accordance with Company's regular payroll practices and procedures. If Team Member's employment is terminated by Company
with cause, Team Member will not be entitled to any Severance Payments.

www.RvnGO.com

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**ARTICLE II. <u>COMPENSATION</u>**

2. Compensation

2.1. The Team Member
shall be paid an annual salary of $185,000 ("Base Salary") paid bi-weekly in the gross amount of $7115.38 less applicable
deductions.

2.2. The Team Member
will be eligible for an incentive cash bonus of up to 50% of the Team Member's base salary determined in the sole discretion of
the Company taking into consideration the Company's financial position and the achievement of Company and individual Team Member
goals and the contribution of the Team Member to the Company's success and promoting the Company's values.

2.3. The Team Member
will be reimbursed for business expenses reasonably incurred on behalf of the Company and in accordance with the Company's expense
policies.

2.4. The Company may
provide benefits from time to time in accordance with whatever benefit plan the Company has in place at the time. Team Member is eligible
for coverage under whatever such plan is in place during the course of their Employment.

2.5. Standard paid time
off is set out in the Company's Employee Handbook.

2.6. Paid Holidays are
as follows: New Year's Day, Memorial Day, July 4th, Labor Day, Thanksgiving and Christmas Day.

**ARTICLE III. <u>EQUITY COMPENSATION</u>**

3. <u>Equity Compensation</u> 

3.1. An initial one-time
grant of 400,000 two (2) year options to purchase Class "A" Common Shares of the Company for an exercise price of $.0.50
per share (the "2 Year Options") awarded and subject to the Company's Evergreen Omnibus Incentive Compensation Plan,
plus possible additional 2 Year Option grants from time-to-time in the sole discretion of the Company and grants of Options or Warrants
to purchase Class "A" Common Shares in lieu of salary (the "Vested Options"). The 2 Year Options will vest 50%
on the first anniversary of November 15th, 2021, with the balance vesting on the second anniversary, subject to the accelerated vesting
terms in the Change in Control provision in Section 11, as applicable. The Vested Options shall immediately vest upon issuance. Both
the 2 Year Options and the Vested Options shall have a term of 10 years. For greater certainty, the details of all options granted pursuant
to this Agreement or otherwise are set out in the attached *Schedule A – Shares, Options & Warrants Schedule*.

www.RvnGO.com

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

3.2. The Team Member
will be eligible to participate in the Company's 360 Review Process which may allocate and issue additional equity incentive compensation
and cash incentive compensation on an annual basis.

3.3. In the event that
this Agreement is terminated for any reason by the Company in the first three months (the probation period) any equity compensation awarded
hereunder will be cancelled without further compensation to the Team Member; thereafter any equity compensation previously awarded to
the Team Member will continue to vest for one year after such termination date, and the Team Member may exercise any vested equity compensation
within such one year period but subject to the term of the equity compensation, or if the Team Member enters into a mutual release of
claims between the Team Member and the Company then such vested equity compensation may be exercised during the remaining term of the
equity compensation. In the event that the Team Member terminates this agreement, any vesting schedules will also terminate immediately
and the Team Member will have 30 days to exercise any vested equity compensation and further subject to the term of the equity compensation.
Exercise of any vested equity compensation will continue to be subject to the terms of the Evergreen Omnibus Equity Compensation Plan.

**ARTICLE IV. <u>INVENTION, DISCLOSURE, PATENT ASSIGNMENT, COPYRIGHT AND SOCIAL MEDIA</u>**

4. <u>Invention, Disclosure, Patent Assignment, Copyright and Social Media</u> 

4.1. Team Member shall
promptly disclose in writing to Company complete and accurate information concerning each and every invention, discovery, improvement,
device, design, apparatus, practice, process, software or computer program, method or product, whether or not patentable or copyrightable,
made, developed, perfected, devised, conceived or first reduced to practice by Team Member, either solely or in collaboration with others,
during Team Member's engagement and during the actual time Team Member is engaged in projects for the Company and which relate
to the business of the Company (an "Invention").

4.2. Any and all Inventions
relating to the actual or contemplated business, technologies or products of Company are and shall be the exclusive property of Company
(collectively, the "Company Inventions"). Team Member hereby assigns to Company any and all of Team Member's right,
title and interest in and to any and all of the Company Inventions, without further payment or other form of consideration. Team Member
agrees to execute such additional applications, assignments and other documents, and to perform such other actions, as Company may in
the future reasonably request in order to confirm in Company the rights granted pursuant to this Section 4.2.

www.RvnGO.com

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

4.3. If Team Member
develops an Invention which Team Member believes is not a Company Invention, Team Member shall disclose in writing to Company all information
reasonably requested by Company from time to time concerning such Invention for the purpose of permitting Company to confirm, determine
and/or verify that the Invention is not a Company Invention. If Company determines that such Invention is a Company Invention, Team Member
shall not disclose, assign, license, use, sell or in any other manner exploit such Invention until the question of whether it is a Company
Invention has been finally resolved, either by agreement between Company and Team Member or by final, non-appealable order entered by
a court of competent jurisdiction.

4.4. Upon the request
of Company and without further compensation therefore, whether during the term of Team Member's engagement or thereafter, Team
Member shall perform all lawful acts, including, but not limited to, the execution of papers and lawful oaths and the giving of testimony,
that in the opinion of Company, its successors and assigns, may be necessary or desirable in obtaining, sustaining, reissuing, extending
and enforcing United States and foreign Letters Patent, including, but not limited to, design patents, on any and all of Company Inventions,
and for perfecting, affirming and recording Company's complete ownership of and title thereto.

4.5. Team Member shall
keep complete, accurate and authentic accounts, notes, data and records of all of the Inventions in the manner and form requested by
Company. Such accounts, notes, data and records relating to Company Inventions shall be the exclusive property of Company, and, upon
its request, Team Member shall promptly surrender the same to Company or, if not previously surrendered upon Company's request
or otherwise, Team Member shall surrender the same, and all copies thereof, to Company upon the conclusion of his engagement.

4.6. Team Member understands
that Company may enter into agreements or arrangements with agencies of the United States Government, and that Company may be subject
to laws and regulations which impose obligations, restrictions and limitations on it with respect to inventions and patents which may
be acquired by it or which may be conceived or developed by employees, Team Members or other agents rendering services to it. Team Member
agrees that he shall be bound by all such obligations, restrictions and limitations applicable to any said invention conceived or developed
by him during the term of his engagement and shall take any and all further action which may be required to discharge such obligations
and to comply with such restrictions and limitations.

4.7. Any social media
contacts, including "followers" or "friends" that are acquired through accounts (including but not limited to
email addresses, blogs, Twitter, Facebook, YouTube, Instagram or other social media networks) used or created on behalf of the Company
are the exclusive property of the Company.

www.RvnGO.com

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**ARTICLE V. <u>VENTURES</u>**

5. <u>Ventures</u> 

5.1. If, during the
term of his engagement, Team Member is engaged in or associated with the research, investigation, planning or implementation of any project,
program or venture on behalf of or involving Company, all rights in the project, program or venture shall belong exclusively to Company
and shall constitute an opportunity belonging exclusively to Company. Except as approved in advance and in writing by Company, Team Member
shall not be entitled to any interest in such project, program or venture or to any commission, finder's fee or other compensation
in connection therewith.

**ARTICLE VI. <u>NON-COMPETITION & NON-SOLICITATION</u>**

6. <u>Non-Competition & Non-Solicitation</u> 

6.1. For purposes of
this Article VI, the term "Company" includes Company, its subsidiaries and affiliates, and any other business enterprises
through which Company conducts business from time to time, whether alone or with others.

6.2. Team Member agrees
that during his engagement with Company and for a period of two (2) years thereafter, Team Member shall not become employed by, become
a director, officer, shareholder, partner, manager or member of, or Team Member to, or otherwise enter into, conduct, or advise or assist
any business, other than that of Company (or any successor to the operations of Company) that (a) engages in direct or indirect competition
with Company in any geographic market in which Company does business or has developed tangible plans to commence doing business during
the period of Team Member's engagement (a "Geographic Market"), (b) conducts in any Geographic Market a business of
the type or character engaged in by Company or (c) develops products or services competitive with those of Company for sale or other
use in any Geographic Market. Ownership of not more than five percent (5%) of the issued and outstanding shares of a class of securities
of a corporation, the securities of which are traded on a national securities exchange or in the over-the-counter market shall not cause
Team Member to be in violation of this provision.

6.3. During the period
set forth in Section 6.2 above, Team Member shall not (a) solicit, divert or take away, or attempt to divert or take away, the business
or patronage of any of the clients, customers or accounts of Company, or any of the prospective clients, customers or accounts of Company
which were contacted, solicited or served by Company during the time Team Member was engaged by Company, or (b) directly or indirectly
recruit, solicit or hire any employee of Company, or induce or attempt to induce any employee of Company to discontinue his employment
relationship with Company.

6.4. Team Member acknowledges
and agrees that the foregoing agreements are a material inducement to Company in engaging Team Member, and that Team Member has had a
full and fair opportunity to consider the advisability of entering into such agreements and to seek legal advice in connection with such
consideration. If, despite the mutual intentions of Company and Team Member, any provision of this Article VI is determined by any court
of competent jurisdiction to be invalid, illegal or unenforceable, in whole or in part, the offending provision shall not affect the
enforceability of the remaining provisions of this Agreement, and Team Member and Company shall promptly and in good faith negotiate
a replacement provision that is fully enforceable and gives maximum effect to the intentions of Team Member and Company in entering into
a consulting relationship.

www.RvnGO.com

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**ARTICLE VII. <u>CONFIDENTIALITY</u>**

7. <u>Confidentiality</u> 

7.1. During the course
of the engagement pursuant to this Agreement, or any previous agreements, Team Member has been and will be privy to information belonging
to or received in confidence by Company or its subsidiaries or affiliates which information is valuable to Company and which information
Company believes to be novel and which it holds in confidence for itself or third parties. Except as permitted or directed by Company,
Team Member shall not during the term of his engagement or at any time thereafter, divulge, furnish, disclose, make accessible or use
(other than in the ordinary course of business of Company) any Confidential Information (as defined below). "Confidential Information"
includes, without limitation, confidential designs, processes or formulae; confidential software or computer programs; the identities
of Company's customers and suppliers and the terms under which Company deals with them; confidential marketing, sales, product
development, financing or engineering plans; confidential strategic or other business plans; confidential development or research work
of Company; and any other confidential aspects of the business of Company. For purposes of this Agreement, a matter is "confidential"
if Company identifies it as confidential, either before or after disclosure to Team Member, or if Team Member should reasonably know
that Company regards it as confidential based on the facts and circumstances available to Team Member. At the expiration or termination
of this Agreement or termination of the engagement hereunder, Team Member will, at Company's request, return to Company all written
confidential information received from Company and destroy any transcriptions or copies Team Member may have of such information (including
information stored in computer form), unless an alternative method of disposition is approved by Company in writing. This section shall
survive the termination of this Agreement.

**ARTICLE VIII. <u>INJUNCTIVE RELIEF</u>**

8. <u>Injunctive Relief</u> 

8.1. Because the services
to be performed by Team Member hereunder are of a special, unique, unusual, confidential, extraordinary and intellectual character which
character renders such services unique and because Team Member will acquire by reason of his engagement and association with Company,
an extensive knowledge of Company's trade secrets, customers, procedures, and other confidential information, the parties hereto
recognize and acknowledge that, in the event of a breach or threat of breach by Team Member of any of the terms and provisions contained
in Article IV, V, VI or VII of this Agreement, monetary damages alone to Company would not be an adequate remedy for a breach of any
of such terms and provisions. Therefore, it is agreed that in the event of a breach or threat of a breach of any of the provisions of
Article IV, V, VI or VII of this Agreement by Team Member, Company shall be entitled to an immediate injunction from any court of competent
jurisdiction restraining Team Member, as well as any third parties whose joinder may be necessary to effect full and complete relief,
from committing or continuing to commit a breach of such provisions without the showing or proving of actual damages. Any preliminary
injunction or restraining order shall continue in full force and effect until any and all disputes between the parties to such injunction
or order regarding this Agreement have been finally resolved. Team Member hereby waives any right he may have to require Company to post
a bond or other security with respect to obtaining or continuing any such injunction or temporary restraining order and, further, hereby
releases Company, its officers, Managers, members, employees and agents from, and waives any claim for damages against them which he
might have with respect to, Company obtaining in good faith any injunction or restraining order pursuant to this Agreement.

**ARTICLE IX. <u>ABSENCE OF RESTRICTIONS</u>**

9. <u>Absence of Restrictions</u> 

9.1. Team Member hereby
represents and warrants that he has full power, authority and legal right to enter into this Agreement and to carry out his obligations
and duties hereunder and that the execution, delivery and performance by Team Member of this Agreement will not violate or conflict with,
or constitute a default under, any agreements or other understandings to which Team Member is a party or by which he may be bound or
affected, including, but not limited to any order, judgment or decree of any court or governmental agency.

www.RvnGO.com

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**ARTICLE X. <u>INVOICES, TAX IDENTIFICATION NUMBERS AND EXPENSE ACCOUNT RECEIPTS</u>**

10. <u>Invoices, Tax Identification Numbers and Expense Account Receipts</u> 

10.1. Invoices, tax identification
numbers and all expense account receipts shall be submitted to the Company at the address specified in Section 12.3 below.

**ARTICLE XI. <u>CHANGE IN CONTROL</u>**

11. <u>Change in Control</u> 

11.1. "Change in
Control" means either (i) a change in ownership or effective control of the Company, or (ii) a change in ownership of a substantial
portion of the assets of the Company.

11.2. In the event of
a Change in Control, Team Member will be entitled to receive the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.1 Immediately prior
to the effective date of a Change in Control, all stock options granted to you and not otherwise vested shall vest and become exercisable
so that you may participate in the Change in Control transaction to the fullest extent feasible. All stock option grants, whether vested
or subject to accelerated vesting hereunder, will remain exercisable for the remaining duration of the applicable 10 year term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2.2 Upon a Change in
Control, Team Member shall be paid in a lump sum an amount equal to your annual Base Salary, as listed in Section 2.1 above.

**ARTICLE XII. <u>MISCELLANEOUS</u>**

12. <u>Miscellaneous</u> 

12.1. This Agreement
shall be governed by and construed in accordance with the laws of the State of Arizona.

12.2. The failure of
Company or Team Member to insist in any one or more instances upon performance of any of the terms, covenants and conditions of this
Agreement shall not be construed as a waiver or relinquishment of any rights granted under this Agreement or the future performance of
any such terms, covenants or conditions.

12.3. All notices, requests,
demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if personally delivered, delivered
by electronic transmission via email or by overnight courier or mailed, registered or certified mail, postage prepaid as follows:

www.RvnGO.com

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

---

| | |
|:---|:---|
| If to Company: | RVeloCITY, Inc. |
|  | 2801 E Camelback Road, Suite 200 |
|  | Scottsdale, AZ 85016 |
|  | Attention: Legal |
|  | Email: legal@rvngo.com |

---

---

| | |
|:---|:---|
| If to Team Member: | Name: Bryan Kleinlein |
|  | Address: |
|  | Telephone: |
|  | Personal Email: |

---

or at such other address or addresses as any such party may have furnished to the other party in writing.

12.4. This Agreement
is for employment services and is therefore not assignable by the Team Member. This Agreement is freely assignable by the Company.

12.5. This Agreement
sets forth the entire agreement between Company and Team Member regarding the terms of Team Member's engagement by the Company
and supersedes all prior agreements between Company and Team Member covering the terms of the engagement. This Agreement may not be amended
or modified except in a written instrument signed by Company and Team Member identifying this Agreement and stating the intention to
amend or modify it. This agreement shall create no third-party beneficiary rights.

IN WITNESS WHEREOF, Company has caused this Agreement to be executed by one of its duly authorized officers and Team Member has individually executed this Agreement, each intending to be legally bound, as of the date first above written.

---

| | | | |
|:---|:---|:---|:---|
| **RVeloCITY, Inc.** | **RVeloCITY, Inc.** | **BRYAN KLEINLEIN** | **BRYAN KLEINLEIN** |
| Per: | */s/ Paul Kacir* | Sign: | */s/ Bryan Kleinlein* |
| **Name Printed:** | **Paul Kacir** | **Name Printed:** | **Bryan Kleinlein** |
| **Title:** | **CEO** | **Date:** | **December 1, 2021** |

---

Date: December 1, 2021

www.RvnGO.com

![](ex10-3_001.jpg)

AMENDED & RESTATED EMPLOYMENT AGREEMENT

**<u>SCHEDULE A: LIST OF SHARES, OPTIONS & WARRANTS</u>**

Bryan Kleinlein Summary<br>*Exported as of 03/09/2022*<br>

---

| | |
|:---|:---|
| Shareholder Information | Shareholder Information |
| Name: Bryan Kleinlein | Email: |
| Phone Number: | Shareholder ID: |
| Status: Active | State of Residency: Arizona |
| Shareholder Type: Employee | Department: |
| Address: | Notes: |

---

Holdings Summary

**<u>Derivatives</u>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Equity Plan** | **Issue Date** | **Exercise Price** | **Issued** | **Exercisable Until** | **Vested** | **Outstanding** |
| OG-11 | Evergreen Omnibus Incentive | 10/01/2018 | $0.13 | 30000 |  | 30000 | 30000 |
| OG-178 | Evergreen Omnibus Incentive | 11/15/2021 | $0.50 | 400000 |  | 0 | 400000 |
| Total |  |  |  | 430000 |  | 30000 | 430000 |

---

www.RvnGO.com

## Exhibit 10.4

**Exhibit 10.4**

![](ex10-4_001.jpg)

**Warrant Terms for Warrants<br> Issued to Employees**

**THE WARRANT TERMS BELOW APPLY TO ALL WARRANTS GRANTED TO EMPLOYEES DURING THEIR EMPLOYMENT WITH** RVeloCITY, Inc., a Delaware corporation dba RVnGO (the **"<u>Company</u>").** These Warrants are separate and apart from any Options or Restricted Stock issued under the Amended and Restated Omnibus Incentive Compensation Plan (the **"<u>Plan</u>**"). Terms used herein and not defined shall have the meaning set out in the Plan

**1. <u>Grant of Warrant</u>.** The Company grants to the employee(the "Grantee " or "Employee") the right to purchase from the Company all or any part of an aggregate of the number of shares of stock (the **"<u>Warrant</u>")** specified by the Company at the time of the Grant. The delivery of any document evidencing the Warrant is subject to the provisions of these terms herein . Any Warrant granted under these terms **are not** intended to be an "Incentive Stock Option" under Section 422 of the Internal Revenue Code of 1986, as amended (the **"<u>Code</u>").**

**2. <u>Purchase Price.</u>** The purchase price per share of stock pursuant to the Warrant shall **<u>not</u>** be less than the Fair Market Value of one share of Stock on the Grant Date; provided, however , that the purchase price per share under each Option shall be no less that the par value of the Common Stock ($0.0001).

**3. <u>Vesting of Warrant</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *General Rule.* The Warrant granted pursuant to Section 1 above shall become vested and exercisable immediately upon the Date of Grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Termination.* Upon a termination of employment with or without cause, or upon the resignation or retirement of the Grantee, the Warrant shall not lapse and will continue to the Expiry Date except as set forth in the Grantee' s employment agreement or separation agreement, if any. However, The Company has the right to set off the Fair Market Value of the Warrants at the time of termination against any amounts owed by the employee to the Company. These Warrants will then be cancelled and expire prior to the Expiry Date of the Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Disability or Death.* Notwithstanding Section 3(a) or 3(b) above, if the Grantee incurs a termination of employment on account of Disability or death before the Warrant expires, the Warrant shall lapse, unless it is previously exercised, on the earlier of: (i) the scheduled Expiry Date of the Warrant; or (ii) 12 months after the date of the Grantee' s termination of employment on account of death or Disability.

**4. <u>Exercise of Warrant</u>.** Warrants may be exercised in whole or in part at any time before the Warrant expires by delivery of a written notice of exercise (under Section 5 below) and payment of the purchase price. The purchase price is to be paid in cash.

**5. <u>Method of Exercising Warrant</u>.** The Warrant may be exercised by timely delivery to the Company of written notice, which notice shall be effective on the date received by the Company. The notice shall state the Grantee's election to exercise the Warrant and the number of underlying shares in respect of which an election to exercise has been made. Such notice shall be signed by the grantee, or if the Warrant is exercised by a person or persons other than the grantee because of the grantee' s death, such notice must be signed by such other person or persons and shall be accompanied by proof acceptable to the Company of the legal right of such person or persons to exercise the Warrant.

**6. <u>Term of Warrant</u>.** Ant Warrants granted to employees expires, unless sooner terminated 5 years from the Grant Date, through and including the normal close of business of the Company on the 5<sup>th</sup> anniversary of the Grant Date (the **"<u>Expiry Date</u>").**

**7. <u>Disqualifying Disposition</u>.** The Grantee shall notify the Company if the Grantee disposes of any shares of Stock subject to the Option in a "disqualifying disposition " as described in Section 422 of the Code. Such notice must be provided within 15 days following the date of the disqualifying disposition and must include the date or dates of the disposition , the number of shares of Stock subject to the disposition , and the consideration received , if any, for the shares of Stock. Upon request by the Company, the Grantee agrees to forward to the Company the amount necessary to satisfy any federal, state or local taxes as are required by law to be withheld upon the disqualifying disposition. If requested by the Company, the Grantee also agrees to forward to the Company up to the maximum statutory amount necessary, in the applicable jurisdiction, to satisfy any other applicable taxes or assessments that may be incurred as a result of the disqualifying disposition.

**8. <u>Stockholder Rights</u>.** The Warrant granted by this Agreement may not be transferred or assigned by the Grantee or by operation of law, other than by will or by the laws of descent and distribution . Prior to the date that the Warrant is exercised by the Grantee, the Grantee shall have no right to vote and no right to receive dividends or other distributions with respect to the Warrant. From and after the date that the Warrant is exercised , the Grantee shall possess all incidents of ownership of the shares of Stock purchased pursuant to the exercise of the Option , including the right to receive dividends with respect to such shares of Stock and the right to vote such shares of Stock.

**9. <u>Right to Terminate Service</u>.** Nothing contained in this Agreement shall create a contract of employment (or service) or give the Grantee a right to continue in the employ of the Company or any Subsidiary, or restrict the right of the Grantee to terminate his employment at any time or the Company or a Subsidiary to terminate the employment of the Grantee at any time.

**10. <u>Adjustments</u>.** Upon the occurrence of certain events relating to the Company' s Stock as contemplated by Section 10 of the Plan, an adjustment shall be made to the number of shares of Stock issued hereby as the Company, in its sole discretion, deems equitable or appropriate to prevent dilution or enlargement of the rights of the Grantee.

**11. <u>Taxes and Withholding</u>.** THE GRANTEE SHALL SATISFY ANY FEDERAL, STATE, LOCAL OR FOREIGN EMPLOYMENT OR INCOME TAXES DUE UPON THE VESTING OF OPTIONS (OR OTHERWISE) BY (I) PERSONAL CHECK OR OTHER CASH EQUIVALENT ACCEPTABLE TO THE COMPANY, (II) PERMITTING THE GRANTEE TO EXECUTE A SAME DAY SALE OF STOCK PURSUANT TO PROCEDURES APPROVED BY THE COMPANY, OR (III) SUCH OTHER METHOD AS APPROVED BY THE COMMITTEE, ALL IN ACCORDANCE WITH APPLICABLE COMPANY POLICIES AND PROCEDURES AND APPLICABLE LAW.

**12. <u>Clawback</u>.** Pursuant to Section 12.6 of the Plan, every Warrant issued to an Employee is subject to potential forfeiture or "clawback" to the fullest extent called for by applicable federal or state law or any policy of the Company. The Grantee agrees to be bound by, and comply with, the terms of any such forfeiture or "clawback " provision imposed by applicable federal or state law or prescribed by any policy of the Company such as the Company policy on its right of set off.

**13. <u>No Violation of Code of Ethics and Business Conduct, Securities Laws and Securities Trading Policy</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall not be obligated to make any payment or issuance of securities hereunder if such payment, in the opinion of counsel for the Company, would violate any applicable securities laws. The Company shall be under no obligation to register any shares of Stock or any other property pursuant to any securities laws on account of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Grantee understands and agrees that under the Company's Securities Trading Policy, as is in effect from time to time, a copy of which is available upon request from the Company's General Counsel (the **"<u>Trading Policy</u>"),** employees and Directors of the Company, including the Grantees of Options , may be restricted from selling any shares of Stock received after the Option is exercised during certain restricted trading periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event the Company determines or discovers during or after the course of the Grantee's employment or service that the Grantee engaged in any act(s) that are contrary to the Company's best interests, including\ , but not limited to, violating the Company's Code of Ethics and Business Conduct, engaging in unlawful trading in the securities of the Company, or engaging in any other activity which constitutes gross misconduct , then, to the maximum extent permissible under applicable law, the Committee may, in its sole discretion, (i) cancel all or any portion of the unvested Option; or (ii) require the Grantee to repay to the Company the value of any Option that was vested and exercised during the 12-month period prior to the date on which the Grantee engaged in such activity or took any such action, with such amount to be paid to the Company by the Grantee , in cash , based on the fair market value of the Stock on the date the underlying Option was exercise d, within 10 days notification of such activity, and the Company is hereby authorized to deduct such amount from any other amounts otherwise due the Grantee.

![](ex10-4_002.jpg)

<u>Form of NOTICE OF EXERCISE</u>

**RVeloCITY, Inc., a Delaware corporation dba RVnGO (the "Company")**

The undersigned hereby elects to purchase <u>___________________</u>shares of Class A common stock of the Company pursuant to the terms set forth in the Company's Policy with respect to Warrants granted to Employees pursuant to the terms of their employment and tenders herewith payment [in cash] of the purchase price for such shares in fu ll, together with all applicable transfer taxes, if any.

---

| | | |
|:---|:---|:---|
| |  | **GRANTEE:** |
| Date: |  | By: |
|  | Address: |  |

---

## Exhibit 10.5

**Exhibit 10.5**

**UNITED STATES**

**SUBSCRIPTION FOR CLASS A COMMON SHARES – Series A Equity Financing Round**

---

| | |
|:---|:---|
| **TO:** | **RVeloCITY, Inc. doing business as RVnGO (the "Corporation")** |

---

The undersigned (the "Subscriber") hereby subscribes for and agrees to purchase the number of Class "A" Common Shares of the Corporation (a "Share" or "Shares") set forth below, for the aggregate subscription price ("Aggregate Subscription Amount") set forth below, representing a subscription price of **$0.50 per Share,** and upon and subject to the terms and conditions set forth in "Terms and Conditions of Subscription for Shares of RVeloCITY, Inc.", doing business as RVnGO attached hereto (together with this page and attached Schedules, the "Subscription Agreement"). **In addition to this face page, the Subscriber must also complete Schedule "A" attached hereto.**

---

| | | |
|:---|:---|:---|
| | | **Aggregate Subscription Amount: $** |
| Full Legal Name of Subscriber (please print) | Full Legal Name of Subscriber (please print) | **(Minimum Investment of $25,000)** |
| By: |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Authorized Signature |  |
| Official Title or Capacity (please print) | Official Title or Capacity (please print) | Number of Class "A" Common Shares |
|  |  | ($0.50 per share): |
| Name of Signatory (please print name of individual whose signature appears above if different than name of Subscriber) | Name of Signatory (please print name of individual whose signature appears above if different than name of Subscriber) |  |
|  |  | ![](ex10-5_001.jpg) |
| Subscriber's Address (including postal code) | Subscriber's Address (including postal code) |  |
| Telephone Number (including area code) | Telephone Number (including area code) |  |
| Email Address | Email Address |  |

---

---

| | |
|:---|:---|
| **<u>Register the Shares (if different from address given above) as follows:</u>** | **<u>Deliver the Shares (if different from address given above) as follows:</u>** |
| Name | Name |
| Account reference, if applicable | Account reference, if applicable |
| Address (including postal code) | Contact Name |
|  | Address (including postal code) |
|  | Telephone Number (including area code) |

---

**ACCEPTANCE:** The Corporation hereby accepts the subscription as set forth above on the terms and conditions contained in this Subscription Agreement.

**RVeloCITY, Inc.,** dba **RVnGO** on ______________________________________, __________

---

| | |
|:---|:---|
| Per: | No.: |

---

 

*This is the first page of an agreement comprised of 8 pages (excluding the Schedules hereto).*

Series A Equity Round – January 2021

![](ex10-5_002.jpg)

An Online Peer-to-Peer RV Rental Marketplace

**<u>PLEASE MAKE SURE THAT YOUR SUBSCRIPTION INCLUDES:</u>**

1. a signed
 copy of this Subscription Agreement;

2. (a)
 a certified check or bank draft in an amount equal to the Aggregate Subscription Amount, payable IN UNITED STATES OF AMERICA DOLLARS
 to "RVeloCITY, Inc.", doing business under the name of RVnGO, a corporation incorporated in the State of Arizona, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (b)
 a wire transfer as follows:

---

| | |
|:---|:---|
| Bank: | Wells Fargo Bank, N.A. |
| Bank Address: | 420 Montgomery, San Francisco, CA 94101 |
| Routing Number (RTN/ABA): | 121000248 |
| International Wires (SWIFT BIC): | WFBIUS6S |
| Account Number: | 8653928732 |
| Beneficiary/Account Holder: | RVeloCITY, Inc. |
| Beneficiary Address: | 4848 N 36<sup>th</sup> Street<br> Suite 222<br> Phoenix, AZ 85018 |

---

3. if
 purchasing Shares as an "accredited investor", one (1) properly completed and duly executed copy of a Representation
 Letter in the form attached as Schedule "A" to this Subscription Agreement.

**<u>PLEASE DELIVER YOUR SUBSCRIPTION TO:</u>**

RVeloCITY, Inc. dba RVnGO

4848 N 36<sup>th</sup> Street,

Suite 222

Phoenix, AZ 85018

<u>Legal@RVnGO.com</u>

**<u>SCHEDULES</u>**

The following schedules are attached to this Subscription Agreement.

Schedule "A" – Representation Letter

Schedule "B" – Term Sheet of this Private Placement of Shares

Schedule "C" – Governance Memo

Series A Equity Round – January 2021 – Page \| 2

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An Online Peer-to-Peer RV Rental Marketplace

**TERMS AND CONDITIONS OF SUBSCRIPTION FOR<br> SHARES OF RVELOCITY, INC.**

1.  **<u>Definitions.</u>** In this Subscription Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "3
 Year Warrant" means one (1) Common Share purchase warrant of the Corporation entitling the holder thereof to acquire one (1)
 Common Share at an exercise price of $0.125 per Common Share for a period of three (3) years;

(b) "5
 Year Warrant" means one (1) Common Share purchase warrant of the Corporation entitling the holder thereof to acquire one (1)
 Common Share at an exercise price of $0.25 per Common Share for a period of five (5) years;

(c) "Aggregate
 Subscription Amount" has the meaning set forth on the face page hereof;

(d) "Class
 A Common Shares" means the Class "A" common shares with a par value of $0.125 in the capital of the Corporation;

(e) "Class
 B Common Shares" means the Class "B" common shares without par value in the capital of the Corporation;

(f) "Closing
 Date" means such date or date(s) as the Corporation may determine;

(g) "Common
 Shares" means the Class A common shares and/or Class B common shares;

(h) "Corporation"
 means RVeloCITY, Inc., doing business under the name RVnGO and <u>RVnGO.com</u>, a corporation incorporated under *Arizona Revised Statutes, Title 10 – Corporations and Associations* on May 5, 2015 under incorporation number 2002188-5;

(i) "Offering"
 shall have the meaning ascribed thereto in paragraph 2(b) hereof;

(j) "Share"
 means a Class "A" Common Shares with a par value of $0.125 in the capital of the Corporation;

(k) "United
 States" means the United States of America, its territories and possession, any state of the United States and the District
 of Columbia; and

(l) "Warrants"
 means the 3 Year Warrants and the 5 Year Warrants.

2.  **<u>Acknowledgements of the Subscriber</u>** . The Subscriber acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) this
 subscription is subject to rejection or acceptance by the Corporation in whole or in part, and is effective only upon acceptance
 by the Corporation;

(b) the
 Shares subscribed for by the Subscriber hereunder form part of a larger issue as detailed in the Term Sheet attached as Schedule
 "B" to this Agreement (the "Offering");

(c) the
 Subscriber is responsible for obtaining such legal advice as it considers appropriate in connection with the execution, delivery
 and performance by it of this Subscription Agreement;

(d) there
 is no government or other insurance scheme covering the Shares; and

(e) there
 are risks associated with an investment in the Shares and, as a result, the Subscriber may lose its entire investment.

Series A Equity Round – January 2021 – Page \| 3

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3.  **<u>Representations, Warranties and Covenants of the Subscriber.</u>** By executing this Subscription Agreement, the Subscriber represents, warrants
 and covenants to the Corporation and its counsel (and acknowledges that the Corporation and its counsel are relying thereon) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 the Subscriber is an individual, the Subscriber is of the full age of majority in the jurisdiction in which this Subscription Agreement
 is executed and is legally competent to execute and deliver this Subscription Agreement, to perform all of its obligations hereunder,
 and to undertake all actions required of the Subscriber hereunder;

(b) if
 the Subscriber is not an individual, the Subscriber has the requisite power, authority, legal capacity and competence to execute
 and deliver and be bound by this Subscription Agreement, to perform all of its obligations hereunder, and to undertake all actions
 required of the Subscriber hereunder, and all necessary approvals of its directors, partners, shareholders, trustees or otherwise
 with respect to such matters have been given or obtained;

(c) if
 the Subscriber is a body corporate, partnership, unincorporated association or other entity, the Subscriber has been duly incorporated
 or created and is validly subsisting under the laws of its jurisdiction of incorporation or creation;

(d) if
 the Subscriber is not an individual, the Subscriber pre-existed the Offering and has a *bona fide* business other than the investment
 in the Shares and was not created or used solely to purchase or hold securities;

(e) this
 Subscription Agreement has been duly and validly authorized, executed and delivered by, and constitutes a legal, valid, binding and
 enforceable obligation of, the Subscriber;

(f) the
 execution, delivery and performance by the Subscriber of this Subscription Agreement and the completion of the transactions contemplated
 hereby do not and will not result in a violation of any law, regulation, order or ruling applicable to the Subscriber, and do not
 and will not constitute a breach of or default under any of the Subscriber's constating documents (if the Subscriber is not
 an individual) or any agreement to which the Subscriber is a party or by which it is bound;

(g) the
 Subscriber confirms that the Subscriber:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) has
 such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment
 in the Shares;

(ii) is
 capable of assessing the proposed investment in the Shares as a result of the Subscriber's own experience or as a result of
 advice received from a person registered under applicable securities legislation;

(iii) is
 aware of the characteristics of the Shares and the risks relating to an investment therein; and

(iv) is
 able to bear the economic risk of loss, and withstand a complete loss, of its investment in the Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 Subscriber understands that no securities commission, stock exchange, governmental agency, regulatory body or similar authority has
 made any finding or determination or expressed any opinion with respect to the merits of investing in the Shares;

Series A Equity Round – January 2021 – Page \| 4

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An Online Peer-to-Peer RV Rental Marketplace

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 Subscriber acknowledges that no prospectus has been filed by the Corporation with any securities commission or similar regulatory
 authority in any jurisdiction in connection with the issuance of the Shares and the issuance is exempted from the prospectus requirements
 available under the provisions of applicable securities laws and as a result:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the
 Subscriber may be restricted from using some of the civil remedies otherwise available under applicable United States securities
 laws;

(ii) the
 Subscriber may not receive information that would otherwise be required to be provided to it under applicable United States securities
 laws; and

(iii) the
 Corporation is relieved from certain obligations that would otherwise apply under applicable United States securities laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the
 Subscriber confirms that neither the Corporation nor any of its representative directors, employees, officers, agents, representatives
 or affiliates, have made any representations (written or oral) to the Subscriber:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) regarding
 the future value of the Shares;

(ii) that
 any person will resell or repurchase the Shares; or

(iii) that
 any person will refund the purchase price of the Shares other than as provided in this Subscription Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the
 Subscriber confirms that it has been advised to consult its own legal and financial advisors with respect to the suitability of the
 Shares as an investment for the Subscriber and the tax consequences of purchasing and dealing with the Shares;

(l) If
 the Purchaser is a U.S. Person (as defined in Regulation S under the United States Securities Act of 1933), the Subscriber is an
 "accredited investor" (an "Accredited Investor") as that term is defined in Rule 501(a) of Regulation D under
 the United States Securities Act of 1933, as amended (the "1933 Act"), and has executed and delivered to the Corporation
 a Representation Letter in the form attached hereto as Schedule "A" indicating that the Subscriber fits within one of
 the categories of Accredited Investor set forth in such definition;

(m) the
 Subscriber acknowledges that it is not purchasing the Shares as a result of any "general solicitation or general advertising",
 as those terms are used in Regulation D under the 1933 Act including, without limitation, advertisements, articles, notices and other
 communications published in any newspaper, magazine or similar media or on the internet or broadcast over television, radio or the
 internet or any seminar or meeting whose attendees have been invited by general solicitation or general advertising;

(n) the
 Subscriber acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) no
 securities commission or similar regulatory authority has reviewed or passed on the merits of the Shares;

(ii) there
 is no government or other insurance covering the Shares;

(iii) there
 are risks associated with the purchase of the Shares; and

(iv) there
 are restrictions 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 them before selling the Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) the
 Subscriber has had access to such information concerning the Corporation as it has considered necessary in connection with its investment
 decision to acquire the Shares, and it has not received or been provided with, nor has it requested, nor does it have any need to
 receive, any offering memorandum, or any other document describing the business and affairs of the Corporation, which has been prepared
 for delivery to and review by prospective purchasers in order to assist them in making an investment decision in respect of the purchase
 of Shares pursuant to the Offering; and

Series A Equity Round – January 2021 – Page \| 5

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An Online Peer-to-Peer RV Rental Marketplace

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) the
 Subscriber acknowledges that the Corporation may complete additional financings in the future in order to develop the proposed business
 of the Corporation and to fund its ongoing development. There is no assurance that such financing will be available and if available,
 on reasonable terms. Any such future financings may have a dilutive effect on current shareholders, including the Subscriber.

4.  **<u>Timeliness of Representations, etc.</u>** The Subscriber agrees that the representations, warranties and covenants of the Subscriber herein
 will be true and correct both as of the execution of this Subscription Agreement and as of the Closing Time (as defined herein),
 and will survive the completion of the distribution of the Shares.

5.  **<u>Indemnity.</u>** The Subscriber acknowledges that the Corporation and its counsel are relying upon the representations, warranties and covenants
 of the Subscriber set forth herein in determining the eligibility (from a securities law perspective) of the Subscriber to purchase
 Shares under the Offering, and hereby agrees to indemnify the Corporation and its directors, officers, employees, advisers, affiliates,
 shareholders and agents (including its legal counsel) against all losses, claims, costs, expenses, damages or liabilities that they
 may suffer or incur as a result of or in connection with their reliance on such representations, warranties and covenants. The Subscriber
 undertakes to immediately notify the Corporation at the address first above written, of any change in any statement or other information
 relating to the Subscriber set forth herein that occurs prior to the Closing Time.

6.  **<u>Deliveries by Subscriber prior to Closing.</u>** The Subscriber agrees to deliver to the Corporation, or as the Corporation may direct, not
 later than 5:00 p.m. (Arizona time – Mountain Standard Time) on or before the date that is two (2) days prior to the Closing
 Date or such other date of which the Subscriber receives notice:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) this
 duly completed and executed Subscription Agreement;

(b) a
 certified check or bank draft made payable to "RVeloCITY, Inc." in an amount equal to the Aggregate Subscription Amount,
 or payment of the same amount in such other manner as is acceptable to the Corporation;

(c) a
 properly completed and duly executed copy of the Representation Letter in the form attached as Schedule "A", if applicable;
 and

(d) such
 other documents as may be requested by the Corporation, as contemplated by this Subscription Agreement.

7.  **<u>Partial Acceptance or Rejection of Subscription.</u>** The Corporation may, in its absolute discretion, accept or reject the Subscriber's
 subscription for Shares as set forth in this Subscription Agreement, in whole or in part, and the Corporation reserves the right
 to allot to the Subscriber less than the amount of Shares subscribed for under this Subscription Agreement.

Notwithstanding the foregoing, the Subscriber acknowledges and agrees that the acceptance of this Subscription Agreement will be conditional upon among other things, the sale of the Shares to the Subscriber being exempt from any prospectus and offering memorandum requirements of applicable securities laws. The Corporation will be deemed to have accepted this Subscription Agreement upon the delivery at Closing of the certificates representing the Shares to the Subscriber or upon the direction of the Subscriber in accordance with the provisions hereof.

If this Subscription Agreement is rejected in whole, any certified check(s) or bank draft(s) delivered by the Subscriber to the Corporation on account of the Aggregate Subscription Amount for the Shares subscribed for will be promptly returned to the Subscriber without interest. If this Subscription Agreement is accepted only in part, a check representing the amount by which the payment delivered by the Subscriber to the Corporation (or its counsel) exceeds the subscription price of the number of Shares sold to the Subscriber pursuant to a partial acceptance of this Subscription Agreement will be promptly delivered to the Subscriber without interest.

Series A Equity Round – January 2021 – Page \| 6

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8.  **<u>Time and Place of Closing.</u>** The sale of the Shares will be completed at the offices of RVeloCITY, Inc., in Scottsdale, Arizona
 at 10:00 a.m. (local time) or such other time and place as the Corporation may determine (the "Closing Time") on the
 Closing Date. The Corporation reserves the right to close the Offering in multiple tranches, so that one or more closings may occur
 after the initial closing.

9.  **<u>Subject to Regulatory Approval.</u>** The obligations of the parties hereunder are subject to all required regulatory approvals being obtained.

10.  **<u>Representations and Warranties of the Corporation.</u>** The Corporation hereby represents and warrants to the Subscriber (and acknowledges that
 the Subscriber is relying thereon) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Corporation has the full corporate right, power and authority to execute and deliver this Subscription Agreement and to issue the
 Shares to the Subscriber;

(b) the
 Corporation is duly incorporated and validly subsisting, and is qualified to carry on business in each jurisdiction in respect of
 which the carrying out of the activities contemplated hereby make such qualification necessary;

(c) the
 Corporation has complied or will comply with all applicable corporate and securities laws in connection with the offer and sale of
 the Shares;

(d) upon
 acceptance by the Corporation, this Subscription Agreement shall constitute a binding obligation of the Corporation enforceable in
 accordance with its terms subject to applicable bankruptcy, insolvency, reorganization and other laws of general application limiting
 the enforcement of creditors' rights generally and to the general principles of equity including the fact that specific performance
 is available only in the discretion of the court; and

(e) the
 execution, delivery and performance of this Subscription Agreement by the Corporation and the issue of the Shares to the Subscriber
 pursuant hereto does not and will not constitute a breach of or default under the constating documents of the Corporation, or any
 law, regulation, order or ruling applicable to the Corporation, or any agreement to which the Corporation is a party or by which
 it is bound.

11.  **<u>No Partnership</u>** . Nothing herein shall constitute or be construed to constitute a partnership of any kind whatsoever between the
 Subscriber and the Corporation.

12.  **<u>Governing Law</u>** . The contract arising out of acceptance of this Subscription Agreement by the Corporation shall be governed by and construed
 in accordance with the laws of Arizona and the federal laws of the United States applicable therein. The parties irrevocably attorn
 to the exclusive jurisdiction of the courts of Arizona.

13.  **<u>Time of Essence</u>** . Time shall be of the essence of this Subscription Agreement.

14.  **<u>Entire Agreement</u>** . This Subscription Agreement represents the entire agreement of the parties hereto relating to the subject matter
 hereof, and there are no representations, covenants or other agreements relating to the subject matter hereof except as stated or
 referred to herein.

15.  **<u>Facsimile Copies</u>** . The Corporation shall be entitled to rely on delivery of a facsimile copy or a scanned copy attached to an email
 of executed subscriptions, and acceptance by the Corporation of such facsimile or scanned subscription shall be legally effective
 to create a valid and binding agreement between the Subscriber and the Corporation in accordance with the terms hereof.

Series A Equity Round – January 2021 – Page \| 7

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16.  **<u>Counterpart</u>** .
 This Subscription Agreement may be executed in one or more counterparts each of which so executed shall constitute an original and
 all of which together shall constitute one and the same agreement

17.  **<u>Severability</u>** .
 The invalidity, illegality or unenforceability of any provision of this Subscription Agreement shall not affect the validity, legality
 or enforceability of any other provision hereof.

18.  **<u>Survival</u>** .
 The covenants, representations and warranties contained in this Subscription Agreement shall survive the closing of the transactions
 contemplated hereby and shall be binding upon and enure to the benefit of the parties hereto and their respective heirs, executors,
 administrators, successors and permitted assigns.

19.  **<u>Interpretation</u>** .
 The headings used in this Subscription Agreement have been inserted for convenience of reference only and shall not affect the meaning
 or interpretation of this Subscription Agreement or any provision hereof. In this Subscription Agreement, all references to money
 amounts are to United States dollars.

20.  **<u>Amendment</u>** .
 Except as otherwise provided herein, this Subscription Agreement may only be amended by the parties hereto in writing.

21.  **<u>Costs</u>** .
 The Subscriber acknowledges and agrees that all costs incurred by the Subscriber (including any fees and disbursements of any special
 counsel retained by the Subscriber) relating to the sale of the Shares to the Subscriber shall be borne by the Subscriber.

22.  **<u>Withdrawal</u>** .
 The Subscriber agrees that this subscription is made for valuable consideration and may not be withdrawn, cancelled, terminated or
 revoked by the Subscriber.

23.  **<u>Assignment</u>** .
 Neither party may assign all or part of its interest in or to this Subscription Agreement without the consent of the other party
 in writing.

Series A Equity Round – January 2021 – Page \| 8

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**SCHEDULE "A"**

------

**REPRESENTATION LETTER – ALL INVESTORS** 

**TO BE COMPLETED BY SUBSCRIBERS**

---

| | |
|:---|:---|
| **TO:** | **RVeloCITY, Inc. doing business as RVnGO (the "Corporation")** |

---

In connection with the purchase of Class "A" Common Shares with a par value of $0.125 per share in the Corporation ("Shares"), by the undersigned subscriber, the undersigned hereby represents, warrants, covenants and certifies to the Corporation, (and acknowledges that the Corporation and its counsel are relying thereon) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it
 is purchasing the Shares for its own account, for investment purposes only and not with a view to resale or distribution and, in
 particular, it has no intention to distribute either directly or indirectly any of the Shares in the United States in violation of
 United States federal or state securities laws; provided, however, that the Subscriber may sell or otherwise dispose of any of such
 securities pursuant to registration thereof pursuant to the United States Securities Act of 1933, as amended (the "1933 Act"),
 and any applicable state securities laws or under an exemption from such registration requirements;

(b) it
 satisfies one or more of the categories of "accredited investor" indicated below (**PLEASE INITIAL ALL APPROPRIATE LINES**)
 (an "Accredited Investor"):

---

| | |
|:---|:---|
| ______ Category 1. | A bank, as defined in Section 3(a)(2) of the 1933 Act, whether acting in its individual or fiduciary capacity; or |
| ______ Category 2. | A savings and loan association or other institution as defined in Section 3(a)(5)(A) of the 1933 Act, whether acting in its individual or fiduciary capacity; or |
| ______ Category 3. | A broker or dealer registered pursuant to Section 15 of the United States Securities Exchange Act of 1934; or |
| ______ Category 4. | An insurance company as defined in Section 2(13) of the 1933 Act; or |
| ______ Category 5. | An investment company registered under the United States Investment Company Act of 1940; or |
| ______ Category 6. | A business development company as defined in Section 2(a)(48) of the United States Investment Company Act of 1940; or |
| ______ Category 7. | A small business investment company licensed by the U.S. Small Business Administration under Section 301 (c) or (d) of the United States Small Business Investment Act of 1958; or |
| ______ Category 8. | A plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, with total assets in excess of U.S.$5,000,000; or |
| ______ Category 9. | An employee benefit plan within the meaning of the United States Employee Retirement Income Security Act of 1974 in which the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company or registered investment adviser, or an employee benefit plan with total assets in excess of U.S.$5,000,000 or, if a self-directed plan, with investment decisions made solely by persons who are accredited investors; or |

---

Series A Equity Round – January 2021 – Page \| i

![](ex10-5_002.jpg)

An Online Peer-to-Peer RV Rental Marketplace

---

| | |
|:---|:---|
| ______ Category 10. | A private business development company as defined in Section 202(a)(22) of the United States Investment Advisers Act of 1940; or |
| ______ Category 11. | An organization described in Section 501(c)(3) of the United States Internal Revenue Code, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of U.S.$5,000,000; or |
| ______ Category 12. | Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer, or general partner of a general partner of that issuer; or |
| ______ Category 13. | A natural person whose individual net worth, or joint net worth with that person's spouse, at the date hereof exceeds U.S.$1,000,000; or |
| ______ Category 14. | A natural person who had an individual income in excess of U.S.$200,000 in each of the two most recent years or joint income with that person's spouse in excess of U.S.$300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; or |
| ______ Category 15. | A trust, with total assets in excess of U.S.$5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the 1933 Act; or |
| ______ Category 16. | Any entity in which all of the equity owners meet the requirements of at least one of the above categories; |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) it
 agrees that if it decides to offer, sell, pledge or otherwise transfer any of the Shares, it will not offer, sell, pledge or otherwise
 transfer any of such securities, directly or indirectly, except;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to the Corporation;
 or

(ii) outside
 the United States in compliance with the requirements of Rule 904 of Regulation S under the 1933 Act and in compliance with applicable
 local laws and regulations; or

(iii) in
 a transaction that does not require registration under the 1933 Act or any applicable state securities laws.

The foregoing representations, warranties and covenants are made by the undersigned with the intent that they be relied upon in determining its suitability as a purchaser of Shares. The undersigned undertake to notify the Corporation immediately of any change in any statement set forth herein which takes place prior to the Closing. Terms used and not defined in this Schedule are as defined in the Subscription Agreement to which this Schedule is attached.

Dated at ________________________________________ on ________________________________, ___________.

---

| |
|:---|
| (Name of Purchaser - please print) |
| (Authorized Signature) |
| (Official Capacity - please print) |
| (please print name of individual whose signature appears above) |

---

Series A Equity Round – January 2021 – Page \| ii

An Online Peer-to-Peer RV Rental Marketplace

**SCHEDULE "B"**

------

**RVeloCITY, INC. doing business as RVnGO** 

Term Sheet of the Private Placement of Shares

---

| | |
|:---|:---|
| **Issuer:** | RVeloCITY, Inc., doing business as RVnGO and Peerage Insurance (the "**Corporation**" or the "**Issuer**"). |
| **Offering:** | Up to a maximum of **10,250,000** Class "A" Common Shares, each with a par value of $0.125 in the Corporation ("**Shares**"). The Board of Directors of the Corporation may elect to increase the Offering. |
| **Date:** | Unless otherwise stated, all information herein is as of December 31, 2020. |
| **Price:** | **$0.40** per Share for the **first $500,000** in subscription proceeds received, and **$0.50** per Share for any subscription proceeds received after the initial $500,000. |
| **Amount:** | Up to a maximum of **$5,000,000**, subject to the discretion of the Board of Directors of the Corporation to increase the Offering. |
| **Percent:** | The issuance of **10,250,000** Shares would represent about **17%** of the issued and authorized capital of the Corporation, pre-investment on a fully diluted basis with all of the warrants and options being exercised whether they are in the money or not. |
| **Selling Commissions:** | For investments from non-Keiretsu Forum members, a commission of up to 7.5% of the funds raised may be paid in association with this offering. |
| **Terms:** | The Shares shall be distributed by way of private placement in reliance upon the prospectus exemptions under the securities legislation of the State of Arizona (the "**Selling Jurisdictions**") and other such jurisdictions as the Issuer may determine. The Private Placement will be made using a Subscription Agreement without the use of an offering memorandum. |
| **Classes of Shares:** | The Corporation has two classes of shares, Class "A" Common Shares, each with a par value of $0.125, of which have been issued the shares and warrants set forth in the *Summary Capitalization Table* below, and Class "B" common shares, of which were issued to the founders of the Corporation as set forth in the *Summary Capitalization Table* below, and stock options to purchase Class "A" Common Shares at fair market value, with exercise prices ranging from $0.125 to $0.30 per share, have been allotted and vest over time and upon the achievement of certain business goals such as the successful launch of the Corporation's services, or subject to performance earnouts or vesting, also as set forth in the *Summary Capitalization Table* below. The Corporation also issues Class "A" Common shares, warrants and stock options from time to time in lieu of salary or services rendered to the Corporation at fair market value. |
| **Share Rights:** | The Class "A" common shares and the Class "B" common shares have the same rights and obligations, except that the Class "B" common shares are subordinate to the Class "A" common shares in the event of any liquidation or winding up of the Corporation or the payment of any dividends or distributions, until the <u>subscription proceeds</u> for each of the Class "A" common shares are satisfied, and thereafter each Class "A" common share and the Class "B" common share shall be entitled to a pro-rata portion of any further proceeds from liquidation or winding up or payment of any dividend or distribution. Each Class "A" common share and Class "B" common share is entitled to one vote on all matters that require a vote of the common shareholders of the Corporation and do not have a separate class vote. |

---

Series A Equity Round – January 2021 – Page \| iii

An Online Peer-to-Peer RV Rental Marketplace

---

| | |
|:---|:---|
| **Selling Jurisdictions:** | The States of Arizona and such other jurisdictions as the Issuer may determine. |
| **Conditions:** | Subject to execution of a satisfactory subscription agreement in form and substance satisfactory to the Issuer and satisfaction of any regulatory filing or registration requirements as determined necessary by the Issuer. |
| **Use of Proceeds:** | The net proceeds from the offering will be used primarily for (i) continued growth of the Corporation's operations and growth plans, including investing in advertising and promotion, (ii) establishing an insurance subsidiary and establishing its loss reserves, and (iii) working capital. |
| **Closing:** | Payment for, and delivery of, a maximum of **10,250,000** Shares shall be made on or before 90 days from the date the subscription offer is accepted by the Issuer or such other dates or dates as agreed between the Corporation and the Subscriber (each a "**Closing Date**"). |
| **Registered Form:** | The Shares will **NOT** be registered with any securities exchange commission. |
| **Right of First Refusal:** | The Subscriber will have a right of first refusal to subscribe for any subsequent rounds of financing by the Corporation on a pro-rata basis with the other Subscribers to this private placement, and to the extent those other Subscribers do not subscribe for their pro-rata portion of any subsequent financing round within 15 days' notice thereof by the Corporation, then the Subscriber may subscribe for such additional shares in the subsequent financing round that remain available. Nothing herein will limit the Corporation's ability to proceed with such subsequent financing rounds, and possibly dilute existing shareholders and to issue new shares of the Corporation, if the subsequent subscription is not fully subscribed for after this right of first refusal is provided to the subscribers to this private placement offering. |
| **IRA Eligible:** | This offering is registered with Mainstar Trust and is eligible for an IRA investment through IRA accounts at Mainstar Trust. |

---

Series A Equity Round – January 2021 – Page \| iv

![](ex10-5_002.jpg)

An Online Peer-to-Peer RV Rental Marketplace

**Capitalization Table**

<sup>RVnGO Summary</sup>

*<sup>Exported as of 01/05/2021</sup>*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Common** | **Outstanding Conversion Ratio** | **Outstanding Conversion Ratio** | **As Converted** | **Percent** | **Authorized** |
| &nbsp;&nbsp;&nbsp;Class A Common |  |  |  |  | 100000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Restricted | 25581074 | 1.0x | 25581074 | 42.27% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted | 784756 | 1.0x | 784756 | 1.30% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted from Evergreen Omnibus | 184500 | 1.0x | 184500 | 0.30% |  |
| &nbsp;&nbsp;&nbsp;Class B Common |  |  |  |  | 100000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Restricted | 13522767 | 1.0x | 13522767 | 22.35% |  |
| &nbsp;&nbsp;&nbsp;**Total** | **40073097** |  | **40073097** | **66.22%** | **200000000** |
| **Warrant** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class A Common Warrants | 8103566 | 1.0x | 8103566 | 13.39% | N/A |
| &nbsp;&nbsp;&nbsp;**Total** | **8103566** |  | **8103566** | **13.39%** | **0** |
| **Evergreen Omnibus Incentive Co** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Authorized | 10936621 |  |  |  | 10936621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Issuances | 750000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option Issuances | 16096758 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 16846758 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cancelled (returned) | 5367500 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued and Outstanding | 11479258 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock | 184500 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vested | 184500 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unvested | 0 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options | 11294758 |  | 11294758 | 18.66% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vested | 7454758 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unvested | 3840000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Remaining Under Plan | -542637 |  | -542637 | -0.90% |  |
| **3 Year Warrants** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Authorized | 5386000 |  |  |  | 5386000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Issuances | 5386000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 5386000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercised | 1152000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cancelled (returned) | 1388000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchased (returned) | 28000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued and Outstanding | 2818000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock | 2818000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vested | 2818000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unvested | 0 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Remaining Under Plan | 1416000 |  | 1416000 | 2.34% |  |
| **5 Year Warrants** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Authorized | 5483900 |  |  |  | 5483900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Issuances | 5521566 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued | 5521566 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cancelled (returned) | 208000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchased (removed) | 28000 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Issued and Outstanding | 5285566 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock | 5285566 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vested | 5285566 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unvested | 0 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Remaining Under Plan | 170334 |  | 170334 | 0.28% |  |
| &nbsp;&nbsp;&nbsp;**Total** |  |  | **60515118** | **100.00%** |  |
| &nbsp;&nbsp;&nbsp;*Convertible Debt* | $*0.00* |  |  |  |  |

---

Series A Equity Round – January 2021 – Page \| v

![](ex10-5_002.jpg)

An Online Peer-to-Peer RV Rental Marketplace

**SCHEDULE "C"**

------

**RVnGO**

**<u>Governance Memo</u>**

---

| | |
|:---|:---|
| Purpose: | RVeloCITY, Inc. doing business as RVnGO (the "Corporation") is an entity formed to develop and commercialize an online platform for a peer-to-peer marketplace for the sale and rental of recreational vehicles and campgrounds. RVnGO is a corporation formed under the *Arizona Revised Statutes, Title 10 - Corporations and Associations* on May 5, 2015 under incorporation number 2002188-5. |
| Founders Group: | As of October 21, 2020, the Corporation has issued Class "A" Common shares and Warrants and allocated for issuance of Class "B" common shares to the founders of the Corporation for nominal consideration in consideration for their expected contributions to the success of the Corporation. As well, the Corporation issues stock options, warrants and/or Class "A" Common Shares to executives of the Corporation in lieu of cash salary each month, the amount varying depending on the Executive's election on how much salary they can invest in equity. |
| Management of the<br> Business: | Paul Kacir, Chief Executive Officer, actively manages the business for RVnGO.<br>Ethan Barron is the Chief Technology Officer and is responsible for the delivery of the Corporation's online platforms on a full-time basis.<br>Richard Saling is the Corporation's Chief Marketing Officer, overseeing on a full-time basis.<br>Jennifer Werderitsch acts as interim Chief Revenue Officer, overseeing sales, customer support and customer success functions, on a part-time basis.<br>The chief executive officer will report to the board of directors who will set their salary, bonus and equity compensation commensurate with market conditions.<br>Mr. Jay Hayden acts as the Corporation's lead legal counsel. |
| Officers: | The following persons are the officers of the Corporation:<br>President – Paul Kacir<br> Secretary – Jay Hayden<br> Assistant Secretary – Bryan Kleinlein |
| Directors: | The following persons are the directors of the Corporation<br>Paul Kacir<br> Jay Hayden<br> Rick Wilcox<br>Outside directors that are not employees of RVnGO will be compensated for acting on the board of directors, such compensation to be fixed by the board of directors, but it is contemplated that such compensation will be in the form of equity grants, stock options and expenses paid. |
| Advisory Board: | The following persons are on the Corporation's advisory board, providing advisory services to the Corporation on an ad hoc basis:<br>Anthony Nalli<br> Brian Bedwell<br> Randy Hendrickson<br> Rick Stoddard |
| Expenses: | Employees and directors of RVnGO shall be entitled to reimbursement of reasonable expenses incurred in furtherance of their duties. |

---

Series A Equity Round – January 2021 – Page \| vi

## Exhibit 10.6

**Exhibit 10.6**

**THE SECURITIES TO BE ISSUED PURSUANT TO THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("<u>SECURITIES ACT</u>"), OR ANY OTHER APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD UNLESS REGISTERED THEREUNDER OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.**

**SUBSCRIPTION AGREEMENT**

RVeloCITY, Inc., doing business as RVnGO

2801 E. Camelback Road, Suite 200

Phoenix, AZ 85016

Ladies and Gentlemen:

**<u>Subscription</u>**. The undersigned (sometimes referred to herein as the "<u>Investor</u>") hereby subscribes for and agree to purchase the principal amount of the Notes (as defined below) of RVeloCITY, Inc., doing business as RVnGO, an Arizona corporation (the "<u>Company</u>") for the purchase price (the "<u>Purchase Price</u>") set forth on the signature page hereto, on the terms and conditions described herein and in <u>Exhibits A, B, C, D, E, F, G, and H</u> hereto (collectively, the "<u>Offering Documents</u>"). Terms not defined herein are as defined in the Offering Documents. The Company is seeking to raise, through a private placement of the Notes pursuant to Rule 506(b) promulgated under the Securities Act of 1933, as amended, a minimum of $1,000,000 (the "<u>Minimum Offering Amount</u>") and a maximum of $10,000,000 (the "<u>Maximum Offering Amount</u>") in this Offering. Boustead and the Company, in their sole discretion, may accept subscriptions in excess of the Maximum Offering Amount. The minimum amount of investment required from any one subscriber to participate in this Offering is $25,000, however, the Company reserves the right, in its sole discretion, to accept subscriptions less than this amount. All references to $ or "dollar(s)" means United States dollars. The undersigned acknowledges that the Company has engaged Boustead Securities, LLC ("<u>Boustead</u>" or "<u>Placement Agent</u>") as its exclusive placement agent in connection with this offering.

**1. <u>Description of Securities; Description of Company and Risk Factors; Lock-Up</u>**.

---

| | |
|:---|:---|
| a. | <u>Description of Securities</u>. The Company is offering (the "<u>Offering</u>") to the Investor in the minimum subscription amount of $25,000, however, the Company reserves the right, in its sole discretion, to accept subscriptions less than this amount, of the Company's 6% convertible unsecured promissory notes due three years from the date of execution (the "<u>Notes</u>"). |
|  | This Offering is being conducted in advance of the Company's intended initial public offering ("<u>IPO</u>") of our Class "A" common stock, par value $0.125 per share (the "<u>Common Stock</u>"), and listing our Common Stock for trading on the Nasdaq Capital Market or other national securities exchange. |
|  | The Notes issued herein may be converted at any time by the holders into Common Stock. In addition, in connection with an IPO, the Notes will ***automatically*** (and without any action on the part of the holders) be converted into shares of Common Stock of the Company at a conversion price (the "<u>Conversion Price</u>") equal to the 60% of the public offering price per share of the Common Stock offered to the public in the IPO. For the avoidance of doubt if, for example, the initial per share offering price in the IPO is $5.00 per share, the conversion price would be $3.00 (60% of the $5.00 per share IPO price). |
|  | Under our engagement letter with Boustead, dated as of September 13, 2021 (the "<u>Engagement Letter</u>"), Boustead has been engaged as our exclusive financial advisor for the 18-month term of the Engagement Letter or 12 months from the date of the IPO. In addition, Boustead has expressed its intent to enter into an Underwriting Agreement with the Company to act as the lead underwriter for the proposed IPO on a "firm commitment" basis. There can be no assurance that we and Boustead will be able to agree on the terms of such Underwriting Agreement or that our proposed IPO will be successfully consummated. |

---

---

| |
|:---|
| In the event that an IPO is not consummated, and if the Company (a) is acquired as a result of a "Sale of Control" (as defined below), (b) merges with a "SPAC" (as defined below) or (c) consummates a "Reverse Merger" (as defined below) (each, a "<u>Liquidity Event</u>") prior to the maturity date of the Notes, the Notes will be convertible at the option of the holders into shares of common stock of any successor-in-interest to the Company at a price per share equal to 60% of the aggregate "Transaction Consideration" (as defined below), divided by the total number of outstanding shares of common stock of the acquiror resulting from the Liquidity Event. |
| As used herein, (i) the term "<u>Sale of Control</u>" shall mean a sale of all or substantially as of the capital stock or assets of the Company to any unaffiliated third Person, whether through share sale, asset sale, merger, consolidation or like combination, as a result of which the ability to control the board of directors of the Company shall pass to such third Person, (ii) the term "<u>SPAC</u>" shall mean a special purpose acquisition corporation listed on Nasdaq or other national securities exchange, and (iii) the term "<u>Reverse Merger</u>" shall mean a reverse merger of the Company with a fully-reporting public corporation without any significant business activities, including a special purpose acquisition corporation or "SPAC," that is then trading on Nasdaq or the OTCQX platform of the OTC Market ("<u>Pubco</u>"; it being contemplated that in a transaction with a SPAC or a Reverse Merger, the stockholders of the Company will own a substantial majority of the equity securities of the SPAC or Pubco. As used herein, the term "<u>Transaction Consideration</u>" shall mean the dollar value placed on the total consideration paid to the Company including, but not limited to, (i) the value of the Liquidity Event, including consideration whether in cash, stock or in-kind, received by and/or paid by the Company, (ii) the total amount of indebtedness for borrowed funds, capitalized lease obligations and non-trade liabilities of the Company that are either assumed by the acquirer, redeemed or otherwise satisfied in connection with the Liquidity Event, or which remain outstanding after the Liquidity Event is consummated; (iii) the fair market value of any assets excluded from the Liquidity Event; (iv) the fair market value of any ownership interests which are retained by the Company's shareholders or which remain outstanding after the Liquidity Event is consummated; and (v) the amount of any contingent payments, including, without limitation, earn-outs and future royalties payable in connection with the Liquidity Event. |
| Within one hundred and eighty-one (181) days or six calendar months, whichever is later, following the consummation of the IPO, the Company shall use its reasonable commercial efforts to file a registration statement on Form S-1 (the "Resale Registration Statement") with the SEC in order to register for resale all of the shares of Common Stock of the Company or common stock of any successor-in-interest to the Company issued to all holders of the Notes upon automatic conversion of the Notes (the "Conversion Shares"), and will use its reasonable bests efforts to cause such Resale Registration Statement to be declared effective by the SEC within forty-five (45) business days from the date of its initial submission or filing; provided, that such Conversion Shares will continue to be subject to restrictions on resale for a period of six (6) months following consummation of the IPO. |
| In the event neither an IPO nor Liquidity Event is consummated within twelve (12) months of the Closing of the Offering, the Company may elect either to (a) repay the Notes in whole or in part (subject to the conversion rights of the Holders), or (b) if the Company does not repay the Notes the unpaid principal amount of the Notes will automatically increase to 110% of the outstanding principal amount. The Company may also elect to prepay the Note at any time after March 31, 2022 upon 20 business days' prior written notice to the Holder. |

---

---

| | |
|:---|:---|
|  | In the event that the Company shall elect to raise additional capital through a private placement of Common Stock or other securities that are convertible or exercisable for a price less than the "Optional Conversion Price", as defined below, then and in such event the Conversion Price of the Notes shall be adjusted to reflect such lower amount. The "<u>Optional Conversion Price</u>" shall mean a price or conversion price that is equal to the price per share determined by dividing $50 million by the total number of outstanding shares of Common Stock and Class B Common Stock of the Company. |
|  | Holders of the Notes will enter into an Investor Rights Agreement and Lock-Up Agreement. The Investor Rights Agreement will provide for typical "drag along" and "tag along" rights and will permit the holders to participate in subsequent securities offerings, including the IPO, in a percentage amount of such securities offering equal to 100% of the percentage invested by such Holder in the Notes. For the avoidance of doubt, if a holder purchases $1,000,000 of Notes, such holder has the right to invest in subsequent offerings no less than $1,000,000 in the subsequent offerings, including the IPO. |
|  | The form of Note is attached as Exhibit F hereto and is part of the Offering Documents. In addition, holders of the Notes will also enter into an Investor Rights and Lock-Up Agreement with the Company in the form of Exhibit G attached hereto which shall contain customary "tag along" and "drag along" rights. |
|  | For a more detailed description of the Notes see the Term Sheet attached as Exhibit <u>A</u>. The Notes and the shares of Common Stock or common stock of a SPAC or Pubco ("<u>Successor Common Stock</u>") into which the Notes are convertible are sometimes referred to herein as the "<u>Securities</u>." The above referenced IPO, SPAC acquisition or Reverse Merger is sometimes hereinafter collectively referred to as a "<u>Liquidity Event</u>" and the Company Common Stock or Successor Common Stock into which the Notes are convertible are sometimes collectively referred to herein as the "<u>Conversion Shares</u>"). The Notes and the Conversion Shares are sometimes collectively referred to herein as the "<u>Securities</u>." |
| b. | <u>Risks Related to the Investment in the Securities</u>. Investing in the Securities involves a high degree of risk. Before investing, Investors should carefully consider the summary description of our business annexed hereto as <u>Exhibit B</u>, the risks related to our business, as set forth in <u>Exhibit C</u>, the description of the business set forth in <u>Exhibit D</u>, and the investor presentation in <u>Exhibit E</u>, together with the other information contained in Offering Documents. |
| c. | <u>Lock-Up</u>. In connection with this Offering, the Investor shall enter into an Investors Rights and Lock-up Agreement in the form of <u>Exhibit G</u>, pursuant to which the Investor shall agree that from and after the date hereof and until the 180th day after the first to occur of (i) consummation of an IPO, (ii) consummation of a transaction with a SPAC or, (iii) consummation of another form of Reverse Merger, as applicable (each, the "<u>Lock-Up Trigger Date</u>"), the Investor agrees not to sell, transfer or otherwise dispose of the Conversion Shares. |

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**2. <u>Purchase</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 hereby agree to tender to Sutter Securities, Inc. (the " <u>Escrow Agent</u> "), by check or wire transfer of immediately
 available funds (to a bank account and related wire instructions to be provided to me on my request) made payable to "Sutter
 Securities, Inc., as Escrow Agent for RVeloCITY, Inc." for the principal amount of the Note indicated on the signature page
 hereto, an executed copy of this Subscription Agreement and an executed copy of my Investor Questionnaire attached as <u>Exhibit A</u> hereto. Funds will be held in escrow, as set forth in more detail below (the " <u>Escrow Account</u> "), pending
 the Initial Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The
 Offering is for a minimum of the Minimum Offering Amount and a maximum offering of the Maximum Offering Amount. All subscriptions
 to purchase Notes will be held in a noninterest-bearing escrow account (the "Escrow Account") maintained by the Escrow
 Agent. The subscriptions will remain in the Escrow Account until subscriptions for the Minimum Offering Amount are raised and the
 Company, in their sole discretion, may accept subscriptions in excess of the Maximum Offering Amount.

c. This
 Offering will continue until the earlier of (a) the sale Notes for the Maximum Offering Amount, (b) February 28, 2022, or such extension
 date agreed to, in their sole discretion, by the Company and Boustead (the " <u>Termination Date</u> "). Upon the earlier
 of a "Closing" (defined below) on my subscription or completion of the Offering, I will be
 notified promptly by the Company as to whether my subscription has been accepted by the Company.

**3. <u>Acceptance or Rejection of Subscription</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 understand and agree that the Company reserves the right to reject this subscription for the Securities, in whole or in part, for
 any reason and at any time prior to the "Closing" (defined below) of my subscription.

b. In
 the event the Company rejects this subscription, my subscription payment will be promptly returned to me without interest or deduction
 and this Subscription Agreement shall be of no force or effect. In the event my subscription is accepted and the Offering is completed,
 the subscription funds submitted by me shall be released to the Company.

**4. <u>Closing</u>**. The closing ("<u>Closing</u>") of this Offering may occur at any time and from time to time on or before the Termination Date. The Company must achieve the Minimum Offering Amount prior to conducting an initial Closing (the "<u>Initial Closing</u>"). Upon receipt of the Minimum Offering Amount, an Initial Closing will be held and all funds will be released from the Escrow Account and paid to the Company, less professional fees and compensation paid to the Placement Agent and syndicate members, if any. Thereafter, additional Closings will be held as funds are received up to the earlier to occur of receipt of the Maximum Offering Amount or the Termination Date. Boustead and the Company, in their sole discretion, may accept subscriptions in excess of the Maximum Offering Amount. Pending receipt of the Minimum Amount, all subscriptions will be placed in escrow with the Escrow Agent. If, for any reason, the Minimum Amount of subscriptions are not received by the Termination Date, all escrowed funds will be returned to subscribers, without interest or deduction. The Securities subscribed for herein shall not be deemed issued to or owned by me until one copy of this Subscription Agreement has been executed by me and countersigned by the Company and the Closing with respect to such Securities has occurred.

**5. <u>Disclosure</u>**. Because this offering is limited to accredited investors as defined in Section 2(15) of the Securities Act, and Rule 501 promulgated thereunder, in reliance upon the exemption contained in Section 4(a)(2) of the Securities Act and applicable state securities laws, the Securities are being sold without registration under the Securities Act. I acknowledge receipt of the Offering Documents and represent that I have carefully reviewed and understand the Offering Documents, including all exhibits attached hereto. I have received all information and materials regarding the Company that I have requested. I fully understand that the Company has a limited financial and operating history and that the Securities are speculative investments which involve a high degree of risk, including the potential loss of my entire investment. I fully understand the nature of the risks involved in purchasing the Securities and I am qualified to make such investment based on my knowledge of and experience in investing in securities of this type. I have carefully considered the potential risks relating to the Company and purchase of its Securities and have, in particular, reviewed each of the risks set forth in the Offering Documents. Both my advisors and I have had the opportunity to ask questions of and receive answers from representatives of the Company or persons acting on its behalf concerning the Company and the terms and conditions of a proposed investment in the Company and my advisors and I have also had the opportunity to obtain additional information necessary to verify the accuracy of information furnished about the Company. Accordingly, I have independently evaluated the risks of purchasing the Securities.

**6. <u>Investor Representations and Warranties</u>**. I acknowledge, represent and warrant to, and agree with, the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 am aware that my investment involves a high degree of risk as disclosed in the Offering Documents and have read carefully the Offering
 Documents, and I understand that by signing this Subscription Agreement I am agreeing to be bound by all of the terms and conditions
 of the Offering Documents.

b. I
 acknowledge and am aware that there is no assurance as to the future performance of the Company.

c. I
 acknowledge that there may be certain adverse tax consequences to me in connection with my purchase of Securities, and the Company
 has advised me to seek the advice of experts in such areas prior to making this investment.

d. I
 am purchasing the Securities for my own account for investment purposes only and not with a view to or for sale in connection with
 the distribution of the Securities, nor with any present intention of selling or otherwise disposing of all or any part of the foregoing
 securities. I agree that I must bear the entire economic risk of my investment for an indefinite period of time because, among other
 reasons, the Securities have not been registered under the Securities Act or under the securities laws of any state and, therefore,
 cannot be resold, pledged, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act and
 under applicable securities laws of certain states or an exemption from such registration is available. I hereby authorize the Company
 to place a restrictive legend on the Securities that are issued to me.

e. I
 recognize that the Securities, as an investment, involve a high degree of risk including, but not limited to, the risk of economic
 losses from operations of the Company and the total loss of my investment. I believe that the investment in the Securities is suitable
 for me based upon my investment objectives and financial needs, and I have adequate means for providing for my current financial
 needs and contingencies and have no need for liquidity with respect to my investment in the Company.

f. I
 have been given access to full and complete information regarding the Company and have utilized such access to my satisfaction for
 the purpose of obtaining information in addition to, or verifying information included in, the Offering Documents, and I have either
 met with or been given reasonable opportunity to meet with officers of the Company for the purpose of asking questions of, and receiving
 answers from, such officers concerning the terms and conditions of the offering of the Securities and the business and operations
 of the Company and to obtain any additional information, to the extent reasonably available.

g. I
 have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment
 in the Securities and have obtained, in my judgment, sufficient information from the Company to evaluate the merits and risks of
 an investment in the Company. I have not utilized any person as my purchaser representative as defined in Regulation D under the
 Securities Act in connection with evaluating such merits and risks.

h. I
 have relied solely upon my own investigation in making a decision to invest in the Company.

i. I
 have received no representation or warranty from the Company or any of its officers, directors, employees or agents in respect of
 my investment in the Company and I have received no information (written or otherwise) from them relating to the Company or its business
 other than as set forth in the Offering Documents. I am not participating in the offer as a result of or subsequent to: (i) any advertisement,
 article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio
 or (ii) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. I
 have had full opportunity to ask questions and to receive satisfactory answers concerning the offering and other matters pertaining
 to my investment and all such questions have been answered to my full satisfaction.

k. I
 have been provided an opportunity to obtain any additional information concerning the offering and the Company and all other information
 to the extent the Company possesses such information or can acquire it without unreasonable effort or expense.

l. I
 am an "accredited investor" as defined in Section 2(15) of the Securities Act and in Rule 501 promulgated thereunder
 and have attached the completed Accredited Investor Questionnaire to indicate my "accredited investor" status. I can
 bear the entire economic risk of the investment in the Securities for an indefinite period of time and I am knowledgeable about and
 experienced in making investments in the equity securities of non-publicly traded companies, including early stage companies. I am
 not acting as an underwriter or a conduit for sale to the public or to others of unregistered securities, directly or indirectly,
 on behalf of the Company or any person with respect to such securities.

m. I
 understand that (1) the Securities have not been registered under the Securities Act, or the securities laws of certain states, in
 reliance on specific exemptions from registration, (2) no securities administrator of any state or the federal government has recommended
 or endorsed this offering or made any finding or determination relating to the fairness of an investment in the Company, and (3)
 the Company is relying on my representations and agreements for the purpose of determining whether this transaction meets the requirements
 of certain exemptions from registration afforded by the Securities Act and certain state securities laws.

n. I
 understand that since neither the offer nor sale of the Securities has been registered under the Securities Act or the securities
 laws of any state, the Securities may not be sold, assigned, pledged or otherwise disposed of unless they are so registered or an
 exemption from such registration is available.

o. I
 have had the opportunity to seek independent advice from my professional advisors relating to the suitability of an investment in
 the Company in view of my overall financial needs and with respect to the legal and tax implications of such investment.

p. If
 the Investor is a corporation, company, trust, employee benefit plan, individual retirement account, Keogh Plan, or other tax-exempt
 entity, it is authorized and qualified to become an Investor in the Company and the person signing this Subscription Agreement on
 behalf of such entity has been duly authorized by such entity to do so.

q. The
 information contained in my Investor Questionnaire, as well as any information which I have furnished to the Company with respect
 to my financial position and business experience, is correct and complete as of the date of this Subscription Agreement and, if there
 should be any material change in such information prior to the Closing of the offering, I will furnish such revised or corrected
 information to the Company. I hereby acknowledge and am aware that except for any rescission rights that may be provided under applicable
 laws, I am not entitled to cancel, terminate or revoke this subscription and any agreements made in connection herewith shall survive
 my death or disability.

**7. <u>Placement Agent</u>.** The Company has engaged Boustead Securities LLC, a broker-dealer licensed with FINRA (the "<u>Placement Agent</u>"), as placement agent for the Offering on a reasonable best-efforts basis. The Company anticipates that the Placement Agent and its sub-agents or syndicate members will be paid at each Closing from the proceeds in the Escrow Account, fees including and not to exceed: a cash commission of seven percent (7%) of the gross Purchase Price paid by Subscribers in the Offering; a non-accountable expense allowance for certain investors of one percent (1%) of the gross purchase price paid by Subscribers in the Offering; and will receive warrants to purchase a number of shares of Common Stock equal to seven percent (7%) of the Common Stock underlying the Notes sold in the Offering to investors, with a term of five (5) years from the relevant Closing Date, and at a per share exercise price equal to the conversion price of the Notes issued to the Subscribers herein (the "<u>Placement Agent Warrants</u>"). Any sub-agent or syndicate member of the Placement Agent that introduces investors to the Offering will be entitled to share in the cash fees and Placement Agent Warrants attributable to those investors as described above, pursuant to the terms of an executed sub-agent or selected dealer agreement. The Company will also pay certain expenses of the Placement Agent.

**8. <u>Representations and Warranties of the Company</u>**. When used in this Section 8, unless the context indicates otherwise, all references to the "Company" also mean and include the direct and indirect subsidiaries of the Company. The Company hereby represents and warrants to the Subscriber, as of the date hereof and on each Closing Date, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Organization and Qualification</u>. The Company and each of its subsidiaries, if any, is a corporation or other business entity duly organized,
 validly existing and in good standing under the laws of the jurisdiction of its formation, and has the requisite corporate power
 to own its properties and to carry on its business as now being conducted. The Company and each of its subsidiaries is duly qualified
 as a foreign corporation to do business and is in good standing in every jurisdiction in which the nature of the business conducted
 by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would not
 have a material adverse effect on the assets, business, financial condition, results of operations or future prospects of the Company
 and its subsidiaries taken as a whole (a " <u>Material Adverse Effect</u> ").

b. <u>Authorization, Enforcement, Compliance with Other Instruments</u>. (i) The Company has the requisite corporate power and authority to enter into
 and perform its obligations under this Agreement, and each of the Offering Documents and to issue the Securities in accordance with
 the terms hereof, (ii) the execution and delivery by the Company of each of the Offering Documents and the consummation by it of
 the transactions contemplated hereby and thereby, including, without limitation, the issuance of the Securities have been, or will
 be at the time of execution of such Offering Document, duly authorized by the Company's Board of Directors, and no further
 consent or authorization is, or will be at the time of execution of such Offering Document, required by the Company, its respective
 Board of Directors or its stockholders, (iii) each of the Offering Documents will be duly executed and delivered by the Company,
 (iv) the Offering Documents when executed and delivered by the Company and each other party thereto will constitute the valid and
 binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability
 may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar
 laws relating to, or affecting generally, the enforcement of creditors' rights and remedies.

c. <u>Capitalization</u>.
 The authorized capital stock of the Company consists of 200,000,000 shares of capital stock consisting of (a) 100,000,000 shares
 of Class "A" Common shares each with a par value of $0.125 (the " <u>Common Stock</u> "), (b) 100,000,000 shares
 of Class "B" Common shares with no par value (the " <u>Class "B" Common Stock</u> "), and (c) no
 shares of preferred stock, of which have been issued the shares and warrants set forth in the *<u>Exhibit H – Capitalization Table</u>* , and stock options and warrants to purchase Common Stock at fair market value, with exercise prices ranging from $0.125
 to $0.50 per share, have been allotted and vest over time and upon the achievement of certain business goals such as the successful
 launch of the Company's services, or subject to performance earnouts or vesting, also as set forth in the *<u>Exhibit H – Capitalization Table</u>* . The Company also issues Common Stock, warrants and stock options from time to time in lieu of salary
 or services rendered to the Corporation at fair market value.

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| | |
|:---|:---|
|  | All of the outstanding shares of Common Stock and Class "B" Common Stock of the Company and all of the share capital of each of the Company's subsidiaries have been or will be, as of the Initial Closing, duly authorized, validly issued and are fully paid and nonassessable. No shares of capital stock of the Company or any of its subsidiaries will be subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by the Company; (ii) there will be no agreements or arrangements under which the Company or any of its subsidiaries is obligated to register the sale of any of their securities under the Securities Act, and (iii) there are no securities or instruments of the Company or any of its subsidiaries containing anti-dilution or similar provisions, including the right to adjust the exercise, exchange or reset price under such securities, that will be triggered by the issuance of the Securities as described in this Agreement. Upon request, the Company will make available to the Subscriber true and correct copies of the Company's Certificate of Incorporation, as amended and as in effect on the date hereof (the "<u>Certificate of Incorporation</u>"), and the Company's By-laws, as amended as in effect on the date hereof (the "<u>By-laws</u>"), and the terms of all securities exercisable for Common Stock and the material rights of the holders thereof in respect thereto other than stock options issued to officers, directors, employees and consultants. |
| d. | <u>Subsidiaries and Affiliates</u>. The Company has no direct or indirect subsidiaries. |
| e. | <u>Issuance of Securities</u>. The Securities are duly authorized and, upon issuance in accordance with the terms hereof, shall be duly issued, fully paid and nonassessable, and will be free and clear of all taxes, liens and charges with respect to the issue thereof. |
| f. | <u>No Conflicts</u>. The execution, delivery and performance of each of the Offering Documents by the Company, and the consummation by the Company of the transactions contemplated hereby and thereby will not (i) result in a violation of the Certificate of Incorporation or the By-laws (or equivalent constitutive document) of the Company or any of its subsidiaries or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any subsidiary is a party, except for those which would not reasonably be expected to have a Material Adverse Effect, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including U.S. federal and state securities laws and regulations) applicable to the Company or any subsidiary or by which any property or asset of the Company or any subsidiary is bound or affected except for those which could not reasonably be expected to have a Material Adverse Effect. Except those which could not reasonably be expected to have a Material Adverse Effect, neither the Company nor any subsidiary is in violation of any term of or in default under its constating documents. Except those which could not reasonably be expected to have a Material Adverse Effect, neither the Company nor any subsidiary is in violation of any term of or in default under any material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company or any subsidiary. The business of the Company and its subsidiaries is not being conducted, and shall not be conducted in violation of any law, ordinance, or regulation of any governmental entity, except for any violation which could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. Except as specifically contemplated by this Agreement and as required under the Securities Act and any applicable state securities laws, neither the Company nor any of its subsidiaries is required to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under or contemplated by this Agreement or the other Offering Documents in accordance with the terms hereof or thereof. Neither the execution and delivery by the Company of the Offering Documents, nor the consummation by the Company of the transactions contemplated hereby or thereby, will require any notice, consent or waiver under any contract or instrument to which the Company or any subsidiary is a party or by which the Company or any subsidiary is bound or to which any of their assets is subject, except for any notice, consent or waiver the absence of which would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect and would not adversely affect the consummation of the transactions contemplated hereby or thereby. All consents, authorizations, orders, filings and registrations which the Company or any of its subsidiaries is required to obtain pursuant to the preceding two sentences have been or will be obtained or effected on or prior to the Closing. |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. <u>Absence of Litigation</u>. There is no action, suit, claim, inquiry, notice of violation, proceeding (including any partial proceeding such
 as a deposition) or investigation before or by any court, public board, governmental or administrative agency, self-regulatory organization,
 arbitrator, regulatory authority, stock market, stock exchange or trading facility (an " <u>Action</u> ") now pending or,
 to the knowledge of the Company, threatened, against or affecting the Company or any of its subsidiaries, wherein an unfavorable
 decision, ruling or finding would (i) adversely affect the validity or enforceability of, or the authority or ability of the Company
 to perform its obligations under this Agreement or any of the other Offering Documents, or (ii) have a Material Adverse Effect.

h. <u>Acknowledgment Regarding Subscriber's Purchase of the Securities</u>. The Company acknowledges and agrees that each Subscriber is acting solely
 in the capacity of an arm's length purchaser with respect to the Offering Documents and the transactions contemplated hereby
 and thereby. The Company further acknowledges that each Subscriber is not acting as a financial advisor or fiduciary of the Company
 (or in any similar capacity) with respect to the Offering Documents and the transactions contemplated hereby and thereby and any
 advice given by such Subscriber or any of their respective representatives or agents in connection with the Offering Documents and
 the transactions contemplated hereby and thereby is merely incidental to such Subscriber's purchase of the Securities.

i. <u>No General Solicitation</u>. Neither the Company, nor any of its "affiliates" (as defined in Rule 144 under the Securities
 Act), nor, to the knowledge of the Company, any person acting on its or their behalf, has engaged in any form of general solicitation
 or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Securities.

j. <u>No Integrated Offering</u>. Neither the Company, nor any of its affiliates, nor to the knowledge of the Company, any person acting on
 its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security,
 under circumstances that would require registration of the Securities under the Securities Act or cause this offering of the Securities
 to be integrated with prior offerings by the Company for purposes of the Securities Act.

k. <u>Employee Relations</u>. Neither the Company nor any subsidiary is involved in any labor dispute nor, to the knowledge of the Company, is any
 such dispute threatened. Neither the Company nor any subsidiary is party to any collective bargaining agreement. The Company's
 and/or its subsidiaries' employees are not members of any union, and the Company believes that its and its subsidiaries'
 relationship with their respective employees is good.

l. <u>Permits</u>.
 The Company and its subsidiaries have all authorizations, approvals, clearances, licenses, permits, certificates or exemptions (including
 manufacturing approvals and authorizations, pricing and reimbursement approvals, labeling approvals, registration notifications or
 their foreign equivalent) issued by any regulatory authority or governmental agency (collectively, " <u>Permits</u> ")
 required to conduct their respective businesses as currently conducted except to the extent that the failure to have such Permits
 would not have a Material Adverse Effect. The Company or its subsidiaries have fulfilled and performed in all material respects their
 obligations under each Permit, and, as of the date hereof, to the knowledge of the Company, no event has occurred or condition or
 state of facts exists which would constitute a breach or default or would cause revocation or termination of any such Permit except
 to the extent that such breach, default, revocation or termination would not have a Material Adverse Effect.

m. <u>Title</u>.
 Each of the Company and its subsidiaries has good and marketable title to all of its real and personal property and assets, free
 and clear of any material restriction, mortgage, deed of trust, pledge, lien, security interest or other charge, claim or encumbrance
 which would have a Material Adverse Effect. With respect to properties and assets it leases, each of the Company and its subsidiaries
 is in material compliance with such leases and holds a valid leasehold interest free of any liens, claims or encumbrances which would
 have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. <u>Rights of First Refusal</u>. The Company is not obligated to offer the Securities offered hereunder on a right of first refusal basis or
 otherwise to any third parties including, but not limited to, current or former stockholders of the Company, underwriters, brokers,
 agents or other third parties.

o. <u>Reliance</u>.
 The Company acknowledges that the Subscriber is relying on the representations and warranties made by the Company hereunder and that
 such representations and warranties are a material inducement to the Subscriber purchasing the Securities. The Company further acknowledges
 that without such representations and warranties of the Company made hereunder, the Subscribers would not enter into this Agreement.

p. <u>Brokers' Fees</u>. The Company does not have any liability or obligation to pay any fees or commissions to any broker, finder or agent with
 respect to the transactions contemplated by this Agreement, except for the payment of fees to the Placement Agent as described above
 and the finders fees payable to Cabin Securities, LLC ("Cabin") of up to 1%.

q. <u>Off-Balance Sheet Arrangements</u>. There is no transaction, arrangement, or other relationship between the Company or any subsidiary and an
 unconsolidated or other off- balance sheet entity that is required to be disclosed by the Company in the Financial Statements and
 is not so disclosed or that otherwise would have a Material Adverse Effect.

r. <u>Investment Company</u>. The Company is not required to be registered as, and is not an affiliate of, and immediately following the Closing will
 not be required to register as, an "investment company" within the meaning of the Investment Company Act of 1940, as
 amended.

s. <u>Reliance</u>.
 The Company acknowledges that the Purchaser is relying on the representations and warranties made by the Company hereunder and that
 such representations and warranties are a material inducement to the Purchaser purchasing the Notes. The Company further acknowledges
 that without such representations and warranties of the Company made hereunder, the Purchaser would not enter into this Agreement.

**9. <u>Indemnification</u>**. I hereby agree to indemnify and hold harmless the Company and its officers, directors, shareholders, employees, agents, advisors and counsel, and Boustead Securities, LLC and its officers, directors, shareholders, employees, agents, advisors and counsel, against any and all losses, claims, demands, liabilities and expenses (including reasonable legal or other expenses, including reasonable attorneys' fees) incurred by each such person in connection with defending or investigating any such claims or liabilities, whether or not resulting in any liability to such person, to which any such indemnified party may become subject under the Securities Act, under any other statute, at common law or otherwise, insofar as such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact made by me and contained in this Subscription Agreement or my Investor Questionnaire, or (b) arise out of or are based upon any breach by me of any representation, warranty, or agreement made by me contained herein or therein.

**10. <u>Severability</u>**. In the event any parts of this Subscription Agreement are found to be void, the remaining provisions of this Subscription Agreement shall nevertheless be binding with the same effect as though the void parts were deleted.

**11. <u>Choice of Law and Jurisdiction</u>**. This Subscription Agreement shall be governed by the laws of the State of New York as applied to contracts entered into and to be performed entirely within the State of New York. Any action arising out of this Subscription Agreement shall be brought exclusively in a court of competent jurisdiction in New York County, New York, and the parties hereby irrevocably waive any objections they may have to venue in New York County, New York.

**12. <u>Counterparts</u>**. This Subscription Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. The execution of this Subscription Agreement may be by actual or facsimile signature.

**13. <u>Benefit</u>**. This Subscription Agreement shall be binding upon and inure to the benefit of the parties hereto.

**14. <u>Notices and Addresses</u>**. All notices, offers, acceptance and any other acts under this Subscription Agreement (except payment) shall be in writing, and shall be sufficiently given if delivered to the addresses in person, by Federal Express or similar courier delivery or by electronic facsimile delivered to the party's email address, as follows:

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| | |
|:---|:---|
| Investor: | At the address designated on the signature page of this Subscription Agreement. |
|  | Or the email address on the signature page of the Subscription Agreement |
| The Company: | RVeloCITY, Inc. dba RVnGO |
|  | 2801 E Camelback Road, Suite 200 |
|  | Phoenix, AZ 85016 |
|  | With a copy to Legal@RVnGO.com |

---

or to such other address as any of them, by notice to the others may designate from time to time. The transmission confirmation receipt from the sender's facsimile machine shall be conclusive evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery in person or by mailing.

**15. <u>Entire Agreement</u>**. This Subscription Agreement, together with the Offering Documents, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior oral and written agreements between the parties hereto with respect to the subject matter hereof. This Subscription Agreement may not be changed, waived, discharged, or terminated orally but, rather, only by a statement in writing signed by the party or parties against which enforcement or the change, waiver, discharge or termination is sought.

**16. <u>Section Headings</u>**. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part, any of the terms or provisions of this Subscription Agreement.

**17. <u>Survival of Representations, Warranties and Agreements</u>**. The representations, warranties and agreements of Investor contained herein shall survive the delivery of, and the payment for, the Securities.

**18. <u>Acceptance of Subscription</u>**. The Company may accept this Subscription Agreement at any time for all or any portion of the Securities subscribed for by executing a copy hereof as provided and notifying me within a reasonable time thereafter.

<u>RESIDENTS OF ALL STATES</u>: THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY WILL BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE OFFERING DOCUMENTS. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

<u>SALES IN FLORIDA</u>: THE SECURITIES OFFERED HEREBY WILL BE SOLD, AND ACQUIRED, IN A TRANSACTION EXEMPT UNDER SECTION 517.061(11) OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER SAID ACT IN THE STATE OF FLORIDA. PURSUANT TO SECTION 517.061(11) OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT, WHEN SALES ARE MADE TO FIVE (5) OR MORE PERSONS IN THE STATE OF FLORIDA, ANY SALE IN THE STATE OF FLORIDA MADE PURSUANT TO SECTION 517.061(11) OF SUCH ACT IS VOIDABLE BY THE PURCHASER IN SUCH SALE (WITHOUT INCURRING ANY LIABILITY TO THE COMPANY OR TO ANY OTHER PERSON OR ENTITY) EITHER WITHIN THREE (3) DAYS AFTER THE FIRST TENDER OF CONSIDERATION IS MADE BY SUCH PURCHASER TO THE ISSUER, AN AGENT OF THE ISSUER, OR AN ESCROW AGENT OR WITHIN THREE (3) DAYS AFTER THE AVAILABILITY OF THAT PRIVILEGE IS COMMUNICATED TO SUCH PURCHASER, WHICHEVER OCCURS LATER. TO VOID HIS OR HER PURCHASE, THE PURCHASER NEED ONLY SEND A LETTER OR TELEGRAM TO THE COMPANY AT THE ADDRESS INDICATED HEREIN. ANY SUCH LETTER OR TELEGRAM SHOULD BE SENT AND POSTMARKED PRIOR TO THE END OF THE AFOREMENTIONED THREE (3) DAY PERIOD. IT IS PRUDENT TO SEND ANY SUCH LETTER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO ASSURE THAT IT IS RECEIVED AND ALSO TO HAVE EVIDENCE OF THE TIME THAT IT WAS MAILED. SHOULD A PURCHASER MAKE THIS REQUEST ORALLY, THAT PURCHASER MUST ASK FOR WRITTEN CONFIRMATION THAT THE REQUEST HAS BEEN RECEIVED. IF NOTICE IS NOT RECEIVED WITHIN THE TIME LIMIT SPECIFIED HEREIN, THE FOREGOING RIGHT TO VOID THE PURCHASE SHALL BE NULL AND VOID.

(Remainder of Page left intentionally blank.)

**THE AGGREGATE AMOUNT SUBSCRIBED FOR HEREBY IS:** 

$<u>___________</u>**principal Notes**

Manner in Which Title is to be Held. (check one)

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| | | | |
|:---|:---|:---|:---|
| __ | Individual Ownership | __ | Community Property |
| __ | Joint Tenant with Right of Survivorship (both parties must sign) |  |  |
| __ | Partnership | __ | Tenants in common |
| __ | Corporation Trust | __ | IRA or Keogh |
| __ | Other (please indicate) |  |  |

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| | |
|:---|:---|
| INDIVIDUAL INVESTORS | ENTITY INVESTORS |
|  | Name of entity, if any |
| Signature (Individual) | By: |
| Signature (Joint) | \*Signature |
| (all record holders must sign) |  |
|  | Its: |
|  | Title: |
| Name Typed or Printed | Name Typed or Printed |
| Address to Which Correspondence Should be Directed | Address to Which Correspondence Should be Directed |
| City, State and Zip Code | City, State and Zip Code |
| Tax Identification or Social Security Number | Tax Identification or Social Security Number |

---

\*

*If Securities are being subscribed for by any entity, the Certificate of Signatory on the next page must also be completed*

 

 

The foregoing subscription is accepted and the Company hereby agrees to be bound by its terms on ___ day of ___________________, 2021.

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| | | |
|:---|:---|:---|
|  | **RVelocity, Inc. doing business as RVnGO** | **RVelocity, Inc. doing business as RVnGO** |
| Dated: | By: |  |
|  | Name: | Paul Kacir |
|  | Its: | Chief Executive Officer |

---

**CERTIFICATE OF SIGNATORY**

(To be completed if Securities are being subscribed for by an entity)

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| | | | |
|:---|:---|:---|:---|
| I, | | , the | |
|  | ***(name of signatory****)* |  | ***(title)*** |

---

 ****

---

| | | | |
|:---|:---|:---|:---|
| of | | ("Entity"), a | |
|  | ***(name of entity)*** |  | ***(type of entity)*** |

---

 ****

Organized under the laws of _____________, hereby certify that I am empowered and duly authorized by the Entity to execute the Subscription Agreement and to purchase the Securities, and certify further that the Subscription Agreement has been duly and validly executed on behalf of the Entity and constitutes a legal and binding obligation of the Entity.

IN WITNESS WHEREOF, I have set my hand this ___ day of _______________, 2021.

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| | |
|:---|:---|
| **** | **** |
|  | ***(Signature)*** |

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## Exhibit 10.7

**Exhibit 10.7**

**<u>Form of Note</u>**

**NEITHER THIS NOTE NOR THE SECURITIES INTO WHICH THIS NOTE IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THESE SECURITIES HAVE BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.**

**RVeloCITY, INC.**

**doing business as**

**RVnGO**

**CONVERTIBLE NOTE**

---

| | |
|:---|:---|
| **Issuance Date: _____________ __, 2021** | **Original Principal Amount: $_____________** |
| **Note No.___** |  |

---

FOR VALUE RECEIVED, **RVeloCITY, Inc.** (pronounced "OUR-velocity") doing business as RVnGO, an Arizona corporation ("<u>RVeloCITY</u>" or the "<u>Maker</u>"), hereby promises to pay to the order of _______________________ (the "<u>Subscriber</u>"), or registered assigns (together with the Subscriber, the "<u>Holder</u>") the amount set out above as the Original Principal Amount, as reduced pursuant to the terms hereof pursuant to redemption, conversion or otherwise (the "<u>Principal</u>"), when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest ("<u>Interest</u>") on any outstanding Principal at the applicable Interest Rate from the date set out above as the Issuance Date (the "<u>Issuance Date</u>") until the same becomes due and payable, upon the Maturity Date or acceleration, conversion, redemption or otherwise (in each case in accordance with the terms hereof).

The Original Principal Amount is ___________________________ Dollars ($____________). For purposes hereof, the term "<u>Outstanding Balance</u>" means the Original Principal Amount, as reduced or increased, as the case may be, pursuant to the terms hereof for conversion, breach hereof or otherwise, plus any accrued but unpaid interest, collection and enforcements costs, and any other fees or charges incurred under this Note **<u>provided that</u>**, in the event of an optional or mandatory conversion of the Note into shares of Common Stock (as provided herein), all accrued interest on the Principal subject to such conversion shall be waived.

This Note is being issued pursuant to the terms of a subscription agreement dated as of __________ __, 2021 between the Maker and the Subscriber and exhibits thereto (collectively, the "<u>Transaction Documents</u>"). Unless otherwise defined herein, all capitalized terms, when used in this Note, shall have the same meaning as they are defined in the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. GENERAL TERMS.

&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>Payment of Principal</u>. Unless previously converted into shares of the common stock, $0.125 par value, of RVeloCITY or the common stock of any successor in interest to the Maker (each the "<u>Common Stock</u>") as contemplated hereby, this Note, together with all accrued interest hereon at the Interest Rate, shall be due and payable on [November , 2024] (the "<u>Maturity Date</u>"). In the event that within 12 months of the Issuance Date, the Maker shall not have consummated an initial public offering of its Common Stock and the listing or trading of its Common Stock on a "<u>Qualified Securities Market</u>", as defined below (the "<u>IPO</u>") or other "<u>Liquidity Event</u>" (hereinafter defined), the Maker may elect either (a) up on thirty (30) days prior written notice to the Holder, elect to prepay all of the principal amount of the Note and accrued interest hereon, subject to the Holder's right to convert the Note into Common Stock during such thirty (30) day period, or (b) if the Maker does not prepay the entire principal amount of the Note or the remaining principal amount of the Note, this Note will automatically increase to 110% of the original or unpaid portion of the outstanding principal amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Interest</u>. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of six percent (6%) (the "<u>Interest Rate</u>") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash. However, in the event of an optional or mandatory conversion of the Note into shares of Common Stock (as provided herein), all accrued interest on the Principal subject to such conversion shall be waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. EVENTS OF DEFAULT.

Whenever used herein, an "<u>Event of Default</u>" means the occurrence and continuation of any one of the following events, whatever the reason, and whether it shall be voluntary or involuntary, or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental body:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Maker's failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note; 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;(b) A Conversion Failure as defined in <u>Section 3(d)(ii)</u>; 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;(c) A material breach by RVeloCITY of any material representation, warranty or covenant contained in the Transaction Documents or a material breach by RVeloCITY of any material representation, warranty or covenant contained in the Purchase Agreement, that, if capable of cure, is not cured within 30 days from the date such breach has occurred; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Maker or any subsidiary of the Maker shall commence, or there shall be commenced against the Maker or any subsidiary of the Maker under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the Maker or any subsidiary of the Maker commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the Maker or any subsidiary of the Maker or there is commenced against the Maker or any subsidiary of the Maker any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of ninety-one (91) days; or the Maker or any subsidiary of the Maker is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or the Maker or any subsidiary of the Maker suffers any appointment of any custodian, private or court appointed receiver or the like for it or any substantial part of its property which continues undischarged or unstayed for a period of ninety-one (91) days; or the Maker or any subsidiary of the Maker makes a general assignment for the benefit of creditors; or the Maker or any subsidiary of the Maker shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or the Maker or any subsidiary of the Maker shall call a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts; or the Maker or any subsidiary of the Maker shall by any act or failure to act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is taken by the Maker or any subsidiary of the Maker for the purpose of effecting any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. CONVERSION OF NOTE. This Note shall be convertible into shares of Common Stock, on the terms and conditions set forth in this <u>Section 3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Certain Definitions</u>. As used in this Note, the following capitalized terms shall have the meaning set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "<u>Alternative Liquidity Event</u>" shall mean any one of a Sale of Control, a SPAC Acquisition, or a Reverse Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) "<u>Alternative Liquidity Event Conversion Price</u>" shall mean a conversion price that is equal to 60% of the aggregate "Transaction Consideration" (as defined) divided by the total number of outstanding shares of common stock of the acquiror resulting from a Sale of Control, the merger with a SPAC or the successor in interest "<u>Pubco</u>" (as defined) in connection with a Reverse Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) "<u>Common Stock</u>" shall mean, as applicable, the individual or collective reference to the Class "A" Common stock, $0.125 par value per share, of the Maker or the common stock of any acquiror in a Sale of Control, SPAC or Pubco resulting from a Sale of Control, SPAC Acquisition or Reverse Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) "<u>Conversion Shares</u>" shall mean the aggregate number of shares of Common Stock of the Maker, the Acquiror in a Sale of Control the SPAC or Pubco, as applicable (each an "<u>Issuer</u>") that are issuable to the Holder in connection with any mandatory conversion (set forth in Section 3(b)) or optional conversion (set forth in <u>Section 3(c)</u>) of this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) "<u>IPO</u>" shall mean an initial public offering of Common Stock of the Maker pursuant to a registration statement on Form S-1 that is declared effective by the Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) "<u>IPO Conversion Price</u>" shall mean a conversion price equal to 60% of the initial public offering price per share of the Common Stock offered to the public in the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) "<u>Liquidity Event</u>" shall mean any one of an IPO, a Sale of Control, a SPAC Acquisition or a Reverse Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) "<u>Optional Conversion Price</u>" shall mean a conversion price that is equal to the price per share determined by dividing $50 million by the total number of outstanding shares of Common Stock and Subordinate Class "B" Common Stock of the Maker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) "<u>Pre-Money Valuation</u>" shall mean the dollar value placed on the total number of outstanding shares of Common Stock and Subordinate Class "B" Common Stock of the Company immediately prior to a Liquidity 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;(x) "<u>Pubco</u>" means a fully-reporting public corporation under the Securities Exchange Act of 1934, as amended, that does not have any significant business activities and is trading on Nasdaq or the OTCQX platform of the OTC Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) "<u>Qualified Securities Market</u>" shall mean any one of the Nasdaq Stock Exchange (including the Nasdaq Capital Market), the NYSE:Amex Exchange, the New York Stock Exchange or the OTCQX platform of the OTC Markets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) "<u>Reverse Merger</u>" means a merger of the Maker with or the acquisition of the Maker by Pubco, as a result of which such transaction, the stockholders of the Maker will own a substantial majority of the equity securities of Pubco.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) "<u>Sale of Control</u>" shall mean a sale of all or substantially as of the capital stock or assets of the Company to any unaffiliated third Person, whether through share sale, asset sale, merger, consolidation or like combination, as a result of which the ability to control the board of directors of the Company shall pass to such third Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) "<u>SPAC</u>" means a special purpose acquisition corporation whose securities are listed on Nasdaq or the New York Stock Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) "<u>SPAC Acquisition</u>" means a merger of the Maker with or the acquisition of the Maker by a SPAC or its subsidiary, as a result of which such transaction, the stockholders of the Maker will own a majority of the equity securities of the SPAC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) "<u>Subordinate Class "B" Common Stock</u>" shall mean the Class "B" Common shares of the Company with no par 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) "<u>Transaction Consideration</u>" shall mean the dollar value placed on the total consideration paid to the Company including, but not limited to, (i) the value of the Transaction, including consideration whether in cash, stock or in-kind, received by and/or paid by the Company, (ii) the total amount of indebtedness for borrowed funds, capitalized lease obligations and non-trade liabilities of the Company that are either assumed by the acquirer, redeemed or otherwise satisfied in connection with the transaction, or which remain outstanding after the transaction is consummated; (iii) the fair market value of any assets excluded from the transaction; (iv) the fair market value of any ownership interests which are retained by the Company's shareholders or which remain outstanding after the transaction is consummated; and (v) the amount of any contingent payments, including, without limitation, earn-outs and future royalties payable in connection with the transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Mandatory Conversion</u>. In the event that prior to the Maturity Date of this Note, the Maker shall consummate an IPO and its Common Stock shall be approved for listing or trading on any Qualified Securities Market, the entire Outstanding Balance of this Note shall ***automatically***, and without any further consent or approval of the Holder, be converted into Common Stock of the Maker at the IPO Conversion Price. In the event that prior to the Maturity Date, the Maker shall consummate an Alternative Liquidity Event, the Holder may elect at his or its option to convert the outstanding and unpaid Outstanding Balance of this Note into Common Stock of the Maker at the Alternative Liquidity Event Conversion Price. The IPO Conversion Price and the Alternative Liquidity Event Conversion Price (either, the "<u>Mandatory Conversion Price</u>") shall be subject to adjustment, as provided for in <u>Section 3(f)</u> 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;(c) <u>Optional Conversion</u>. At any time, at the Holder's option, such Holder may convert the outstanding and unpaid Outstanding Balance of this Note into fully paid and nonassessable shares of Common Stock in accordance with this <u>Section 3(c)</u>, at the Optional Conversion Price, subject to adjustment as provided in <u>Section 3(f)</u> below. If the issuance would result in the issuance of a fraction of a share of Common Stock, RVeloCITY shall round such fraction of a share of Common Stock up to the nearest whole share. RVeloCITY shall pay any and all transfer agent fees, legal fees, costs and any other fees or costs that may be incurred or charged in connection with the issuance and legend removal of shares of Common Stock to the Holder arising out of or relating to the conversion of this Note up to a maximum of five thousand dollars ($5,000).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Mechanics of Conversion</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Optional Conversion.</u> To convert the Note pursuant to an optional conversion into shares of Common Stock on any date (a "<u>Conversion Date</u>"), the Holder shall (A) transmit by email, facsimile (or otherwise deliver), for receipt on or prior to 11:59 p.m., New York, NY Time, a copy of an executed notice of conversion in the form attached hereto as Exhibit A (the "<u>Conversion Notice</u>") to RVeloCITY. On or before the tenth (10th) Business Day following the date of receipt of a Conversion Notice (the "<u>Share Delivery Date</u>"), RVeloCITY shall (A) if legends are not required to be placed on certificates of Common Stock pursuant to the then existing provisions of Rule 144 of the Securities Act of 1933 ("<u>Rule 144</u>") and provided that the Transfer Agent is participating in the Depository Trust Company ("<u>DTC</u>") Fast Automated Securities Transfer Program, credit such aggregate number of shares of Common Stock to which the Holder shall be entitled to the Holder's or its designee's balance account with DTC through its Deposit Withdrawal Agent Commission system or (B) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and deliver to the address as specified in the Conversion Notice, a certificate, registered in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder shall be entitled which certificates shall not bear any restrictive legends unless required pursuant the Rule 144. The Person or Persons entitled to receive the shares of Common Stock issuable upon a conversion of this Note shall be treated for all purposes as the record holder or holders of such shares of Common Stock upon the transmission of a Conversion Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Issuer's Failure to Timely Convert.</u> If within ten (10) business days after a Liquidity Event or (in the case of an optional conversion) RVeloCITY receipt of the facsimile or email copy of a Conversion Notice together with documentation satisfactory to the Transfer Agent that the Conversion Shares are eligible for such electronic issuance, the Issuer shall fail to issue and deliver to Holder via "DWAC/FAST" electronic transfer the number of Conversion Shares to which the Holder is entitled upon such holder's conversion of any Conversion Shares (a "<u>Conversion Failure</u>"), the Outstanding Balance of the Note shall increase by 0.05% per day until such time as the Issuer of the Conversion Shares issues and delivers a certificate to the Holder or credit the Holder's balance account with DTC for the number of Conversion Shares to which the Holder is entitled upon such mandatory or optional conversion. The Issuer of the Conversion Shares will not be subject to any penalties once its transfer agent processes the shares to the DWAC system. If the issuer fails to deliver shares in accordance with the timeframe stated in this Section, resulting in a Conversion Failure, the Holder, at any time prior to selling all of those Conversion Shares, may rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Outstanding Balance with the rescinded Conversion Shares returned to the applicable Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Book-Entry</u>. Notwithstanding anything to the contrary set forth herein, in connection with any optional or mandatory conversion of this Note in accordance with the terms hereof, the Holder shall not be required to physically surrender this Note to RVeloCITY unless the issue of the Conversion Shares shall issue to the Holder of this Note either one or more stock certificates evidencing the Conversion Shares or physical evidence from the Issuer's transfer agent that the Holder's balance account with DTC has been credited for the number of Conversion Shares to which the Holder is entitled upon such mandatory or optional conversion. The Holder and the Issuer shall maintain records showing the Outstanding Balance converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and Issuer, so as not to require physical surrender of this Note upon conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Limitations on Conversions or Trading</u>.

If at any time after the Closing, the Holder shall or would receive Conversion Shares or shall purchase additional shares of Common Stock of an Issuer, so that the Holder would, together with other shares of Common Stock held by it or its Affiliates, own or beneficially own by virtue of such action or receipt of additional shares of Common Stock a number of shares exceeding 9.99% of the number of shares of Common Stock outstanding on such date (the "<u>Maximum Percentage</u>"), the Issuer shall not be obligated and shall not issue to the Holder Conversion Shares which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage would no longer be exceeded by any such receipt of shares of Common Stock by the Holder. Upon delivery of a written notice to the applicable Issuer the Holder may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery of such notice) or decrease the Maximum Percentage to any other percentage not in excess of 9.99% as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective until the sixty-first (61st) day after such notice is delivered to RVeloCITY and (ii) any such increase or decrease will apply only to the Holder and its Affiliates. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3(e) to the extent necessary to correct this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended beneficial ownership limitation contained in this <u>Section 3(e)</u> or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived and shall apply to a successor holder of the Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Adjustment of Conversion Price</u>. In the event that a Liquidity Event prior to the ___________ __, 2024 Maturity Date of this Note, the Maker shall raise additional capital through a private placement of Common Stock or other securities that are convertible or exercisable for Common Stock, in either case, at a price less than the Optional Conversion Price, then and in such event the Conversion Price of the Notes shall be adjusted to reflect such lower amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Other Provisions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Share Reservation</u>. RVeloCITY shall at all times reserve and keep available out of its authorized Common Stock a number of shares equal to at least the full number of shares of Common Stock issuable upon conversion of all outstanding amounts under this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Prepayment.</u> This Note may not be prepaid by RVeloCITY until March 31, 2022. Thereafter, the Note may either be prepaid by the Company in whole or in part without penalty, fees or premium upon not less than twenty (20) business days prior written notice to the Holder (the "<u>Prepayment Notice</u>") which shall set forth the date on which the Note shall be prepaid (the "<u>Prepayment Date</u>"), subject to the Holder's right to convert all or any portion of this Note into Conversion Shares at the Optional Conversion Price prior to the Prepayment 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;(iii) All calculations under this Section 3 shall be rounded up to the nearest whole share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Nothing herein shall limit a Holder's right to pursue actual damages or declare an Event of Default pursuant to Section 2 herein for RVeloCITY' failure to deliver certificates or credit entries representing shares of Common Stock upon conversion within the period specified herein and such Holder shall have the right to pursue all remedies available to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief, in each case without the need to post a bond or provide other security. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The Maker shall use its best efforts to assist the Holder to obtain a legal opinion for the removal of any restrict legend in connection with any shares converted from this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) This Note is one of the Convertible Notes issued on or about the date of this Note by the Maker in an aggregate principal amount of up to $10,000,000, (the "<u>Notes</u>"). Each of the Notes shall rank equally without preference or priority of any kind over one another, and all payments and recoveries under the Notes payable on account of principal and interest on the Notes shall be paid and applied ratably and proportionately on the balance of all outstanding Notes on the basis of their original principal amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. REISSUANCE OF THIS NOTE.

Upon receipt by the Maker of evidence reasonably satisfactory to the Maker of the loss, theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Maker in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Maker shall execute and deliver to the Holder a new Note representing the outstanding Principal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. NOTICES. Any notices, consents, waivers or other communications required or permitted to be given under the terms shall be handled according to the Notice clause in the Subscription Agreement.

The addresses for such communications shall be:

If to the Maker:

RVeloCITY, Inc., dba RVnGO

2801 E. Camelback Road, Suite 200

Phoenix, AZ 85016

Email: Legal@RVnGO.com

If to the Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. APPLICABLE LAW AND VENUE. This Note shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to conflicts of laws thereof. Any action brought by either party against the other concerning the transactions contemplated by this Agreement shall be brought only in the state courts of New York or in the federal courts located in New York County, in the State of New York. Both parties and the individuals signing this Agreement agree to submit to the jurisdiction of such courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. WAIVER. Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. MISCELLANEOUS.

&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>Lawful Money; Costs of Collection</u>. All amounts payable hereunder are payable in lawful money of the United States. RVeloCITY agrees to pay all costs of collection when incurred, including reasonable attorneys' fees and costs, whether or not a suit or action is instituted to enforce this Note, including but not limited to court costs, appraisal fees, the cost of searching records, obtaining title reports and title insurance and trustee's fees, to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Offset; Holder in Due Course</u>. All payments under this Note made by or on behalf of RVeloCITY shall be made without setoff or counterclaim and free and clear of, and without deduction or withholding for or on account of, any federal, state, or local taxes. RVeloCITY waives any right of offset it now has or may hereafter have against Agent or Holder and its successors and assigns as to this Note (but retains any such rights as to any other prior or future transaction between these parties), and agrees to make the payments called for hereunder in accordance with the terms hereof. The holder hereof and all successors thereof shall have all the rights of a holder in due course as provided in the Arizona Uniform Commercial Code and other laws of the State of Arizona.

&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>Waivers</u>. RVeloCITY and any endorsers, guarantors or sureties hereof severally waive presentment and demand for payment, notice of intent to accelerate maturity, protest or notice of protest or non- payment, bringing of suit and diligence in taking any action to collect any sums owing hereunder or in proceeding against any of the rights and properties securing payment hereunder; expressly agree that this Note, or any payment hereunder, may be extended from time to time; and consent to the acceptance of further security or the release of any security for this Note, all without in any way affecting the liability of RVeloCITY and any endorsers or guarantors hereof. No extension of time for the payment of this Note, or any installment hereof, made by agreement by the holder hereof with any person now or hereafter liable for the payment of this Note, shall affect the original liability under this Note of RVeloCITY, even if RVeloCITY (or any entity comprising RVeloCITY) is not a party to such agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Usury Protection</u>. The parties hereto intend to conform strictly to the applicable usury laws. In no event, regardless of any provisions contained therein or in any other document executed or delivered in connection herewith, shall the holder hereof ever be deemed to have contracted for or be entitled to receive, collect or apply as interest on this Note, any amount in excess of the maximum amount permitted by applicable law (the "<u>Maximum Rate</u>"). In no event, whether by reason of demand for payment, prepayment, acceleration of the maturity hereof or otherwise, shall the interest contracted for, charged or received by the holder hereunder or otherwise exceed the Maximum Rate. If for any circumstance whatsoever interest would otherwise be payable to the holder in excess of the maximum lawful amount, the interest payable to the holder shall be reduced automatically to the Maximum Rate and any payment received in excess of such amount shall be applied to the outstanding principal balance of the Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Entire Agreement</u>. This Note, the other Transaction Documents, and all other documents and instruments contemplated hereby and thereby together constitute the entire agreement between and among the parties pertaining to the subject matter hereof. No supplement, modification or amendment of this Note shall be binding unless executed in writing by the parties. No waiver shall be binding unless executed in writing by the party making the waiver. No provision of this Note shall be interpreted for or against the drafting party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Fees and Expenses</u>. RVeloCITY agrees to pay all costs and expenses incurred by Holder in connection with all amendments, modifications and supplements to any of the Transaction Documents, including, without limitation, the costs and fees of Holder's legal counsel, any applicable title company fees, title insurance premiums, filing fees, escrow fees, reconveyance fees, payoff demands and recording costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Commercial Purpose.</u> RVeloCITY agrees that no funds advanced under this Note shall be used for personal, family or household purposes, and that all funds advanced hereunder shall be used solely for business, commercial, investment or other similar purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Successors and Assigns</u>. All the terms and provisions of this Note shall be binding upon and inure to the benefit of the parties to this Note and their respective successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Assignment</u>. RVeloCITY may not, voluntarily or involuntarily, directly or indirectly, by operation of law or otherwise, sell, transfer, assign, hypothecate, pledge or in any way alienate this Note or any right or interest in this Note (each a "<u>Transfer</u>") without Holder's prior written consent, which Holder may withhold in its sole and absolute discretion. Any consent by Holder to any Transfer shall not constitute consent to any other Transfer. Holder may freely Transfer its interest, rights, or title in or to this Note or the other Transaction Documents in Holder's sole and absolute discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Construction.</u> Whenever used in this Note, the terms "including," "include," "includes" and the like are not intended as terms of limitation, and, hence, shall be deemed to be followed by "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;(k) <u>Severability</u>. If any provision of this Note, as applied to any party or to any circumstance, shall be found by a court of competent jurisdiction to be void, invalid or unenforceable, the same shall in no way affect any other provision of this Note, the application of any such provision in any other circumstance, or the validity or enforceability of this Note, and any provision which is found to be void, invalid or unenforceable shall be curtailed and limited only to the extent necessary to bring such provision within the requirements of the law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Survival of Terms</u>. The terms and provisions of this Note shall survive the Maturity Date until full payment of all amounts due 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;(m) <u>Preferential Payment</u>. If at any time any payment made pursuant to this Note is deemed to have been a voidable preference, fraudulent conveyance or other similar conveyance or preferential payment under any bankruptcy, insolvency or other debtor relief or similar law, then the obligation to make such payment shall survive any cancellation or satisfaction of this Note or return of this Note to RVeloCITY and shall not be discharged or satisfied with any such payment or cancellation. Such payment shall instead remain a valid and binding obligation enforceable in accordance with the terms of this Note and shall be immediately due and payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Relief From Stay</u>. As an additional inducement to and material consideration for Holder agreeing to execute this this Note and the other Transaction Documents, RVeloCITY agrees that in the event a Bankruptcy or Judicial Action (as hereinafter defined in this <u>Section 8(n)</u>) is commenced which subjects Holder to any stay in the exercise of Holder's rights and remedies under this Note or the other Transaction Documents, including, but not limited to, the automatic stay imposed by Section 362 of the United States Bankruptcy Code (individually and collectively, "<u>Stay</u>"), then RVeloCITY irrevocably consents and agrees that such Stay shall automatically be lifted and released against Holder, and Holder shall thereafter be entitled to exercise all of its rights and remedies against RVeloCITY that is or could be subject any Stay under this Note or the other Transaction Documents. Nothing contained herein shall limit or prevent Holder from exercising all of its rights and remedies against RVeloCITY that is not the subject any Stay under this Note or the other Transaction Documents. RVeloCITY acknowledges that it is knowingly, voluntarily, and intentionally waiving its rights to any Stay and agrees that the benefits provided to RVeloCITY under the terms of this Note are valuable consideration for such waiver. As used in this <u>Section 8(n)</u>, the term "<u>Bankruptcy or Judicial Action</u>" shall mean any voluntary or involuntary case filed by or against a RVeloCITY under the United States Bankruptcy Code, or any voluntary or involuntary petition in composition, readjustment, liquidation, or dissolution, or any state and federal bankruptcy law action filed by or against a RVeloCITY, any action where a RVeloCITY is adjudicated as bankrupt or insolvent, any action for dissolution of a RVeloCITY, or any action in furtherance of any of the foregoing, or any other action, case, or proceeding that has the effect of staying (or in which a stay is being obtained against) the enforcement by Holder of its rights and remedies under the this Note or the other Transaction Documents.

Except to enforce the terms of the Transaction Documents, RVeloCITY shall not take any action and shall not fail to take any action which such action or omission will or might tend to interfere with, delay, enjoin or otherwise prohibit the commencement, continuation or completion of efforts by Holder to enforce its remedies under this Note or the other Transaction Documents, or applicable law. Without limiting the generality of the foregoing and except to enforce the terms of the Transaction Documents, each RVeloCITY waives its, his, or her rights, if any, to seek or obtain a stay, injunction or other form of order prohibiting in any way any act necessary or appropriate for the commencement or completion of Holder's enforcement of its remedies under the this Note or the other Transaction Documents, or applicable law (without limiting the generality of the foregoing, such waiver extends to such rights which may exist under any statute or rule relating to bankruptcy cases, including, without limitation, 11 U.S.C. § 105, 11 U.S.C. § 301, 11 U.S.C. § 302, 11 U.S.C. § 303, 11 U.S.C. § 304, 11 U.S.C. § 362, 11 U.S.C. § 348, 11 U.S.C. § 706, 28 U.S.C. §157, 28 U.S.C. § 158, Federal Rule of bankruptcy Procedure ("FRBP") 3007, FRBP 3008, FRBP 3012, FRBP 8005,FRBP 9023, FRBP 9024, or FRBP 9029).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. AMENDMENT AND WAIVER OF RIGHTS. This Note may be amended and the observance of any term hereof may be waived (either generally or in a particular instance either retroactively or prospectively) only by a written instrument executed by the Maker and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. WAIVER OF RIGHT TO TRIAL BY JURY.

EACH PARTY TO THIS NOTE HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (1) ARISING UNDER THIS NOTE, THE OTHER TRANSACTION DOCUMENTS, OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION THEREWITH, OR (2) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS NOTE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY. THE PARTIES HERETO HEREBY AGREE THAT THE PROVISIONS CONTAINED HEREIN HAVE BEEN FAIRLY NEGOTIATED ON AN ARM'S-LENGTH BASIS, WITH BOTH SIDES AGREEING TO THE SAME KNOWINGLY AND BEING AFFORDED THE OPPORTUNITY TO HAVE THEIR RESPECTIVE LEGAL COUNSEL CONSENT TO THE MATTERS CONTAINED HEREIN. ANY PARTY TO THIS NOTE MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY AND THE AGREEMENTS CONTAINED HEREIN REGARDING THE APPLICATION OF JUDICIAL REFERENCE IN THE EVENT OF THE INVALIDITY OF SUCH JURY TRIAL WAIVER.

IN WITNESS WHEREOF, each of the Maker has caused this Note to be duly executed by a duly authorized officer as of the date set forth above.

---

| | | |
|:---|:---|:---|
|  | RVeloCITY, INC. | RVeloCITY, INC. |
|  | By: | |
|  | Name: | Paul Kacir |
|  | Title: | Chief Executive Officer |
| Note No. [ ] |  |  |

---

**EXHIBIT A**

**NOTICE OF CONVERSION**

RVeloCITY, Inc.

2801 E. Camelback Road, Suite 200

Phoenix AZ 85016

Email: Legal@RVnGO.com

The undersigned hereby elects to convert $[ ] of the $[ ] Convertible Note (Note No. [ ]) issued to [ ] on [ ], 2021 into Shares of Common Stock of RVeloCITY , Inc.. according to the conditions set forth in such Note as of the date written below.

If the number of shares to be delivered represents more than 4.99% of the common stock outstanding, this conversion notice shall immediately automatically extinguish and Holder must be immediately notified.

---

| |
|:---|
| Date of Conversion: |
| Optional Conversion Amount: |
| Conversion Price: |
| Shares to be Delivered: |
| Shares delivered in name of: |

---

---

| |
|:---|
| HOLDER |
| [ ] |
| By: |
| Title: |

---

## Exhibit 10.8

**Exhibit 10.8**

**THESE WARRANTS AND ANY SHARES ACQUIRED UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY APPLICABLE STATE SECURITIES LAWS. THESE WARRANTS AND SUCH SHARES AND ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SUCH ACT AND UNDER ANY APPLICABLE STATE SECURITIES LAWS. THESE WARRANTS AND SUCH SHARES MAY NOT BE EXERCISED OR TRANSFERRED EXCEPT UPON THE CONDITIONS SPECIFIED IN THIS WARRANT CERTIFICATE, AND NO EXERCISE OR TRANSFER OF THESE WARRANTS OR TRANSFER OF SUCH SHARES SHALL BE VALID OR EFFECTIVE UNLESS AND UNTIL SUCH CONDITIONS SHALL HAVE BEEN COMPLIED WITH.**

**RVeloCITY, INC. dba RVnGO**

**Warrant To Purchase Common Stock**

Warrant No.: <u>PA-1</u>

Date of Issuance: January 21, 2022 ("**Issuance Date**"**)**

**RVeloCITY, Inc. dba RVnGO**, an Arizona corporation **Company** certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, **Boustead Securities, LLC**, the registered holder hereof or its permitted assigns **Holder** the Exercise Price (as defined below) then in effect, Company common stock, par value $0.0001 **Common Stock** (including any Warrants to purchase shares issued in exchange, transfer or **Warrant** date hereof, to the extent permitted by the applicable SEC and FINRA rules, but not after 11:59 p.m., Eastern Time, on the Expiration Date (as defined below), such number (subject to adjustment as provided herein) of fully paid and non-assessable shares of Common Stock equal to seven percent (7%**)** of the shares of Company common stock into which the January 21, 2022 in the principal amount of $1,275,000.00 **Notes** converts into **Warrant Shares**

1. <u>EXERCISE OF WARRANT</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Mechanics of Exercise</u>. Subject to the terms and conditions hereof, this Warrant may be exercised by the Holder on any day on or after the date hereof, to the extent permitted by the applicable SEC and FINRA rules, in whole or in part, by delivery (whether via facsimile, email, or otherwise) of a written notice, in the form attached hereto as **Exhibit A Exercise Notice**, by submitting information including the then-applicable Exercise Price, number of Warrant Shares purchased equal to or lower than the then-applicable number of Warrant Shares and the FMV **Exercise Information**. Within one (1) Trading Day following an exercise of this Warrant as aforesaid, the Holder shall deliver payment to the Company of an amount equal to the Exercise Price in effect on the date of such exercise multiplied by the number of Warrant Shares as to which this Warrant was so **Aggregate Exercise Price** funds if, subject to the provisions of Section 1(d), the Holder has not notified the Company in such Exercise Notice that such exercise is made pursuant to a Cashless Exercise (as defined in Section 1(d)) at a time and under circumstances which permit a Cashless Exercise. The Holder shall not be required to deliver the original of this Warrant in order to effect an exercise hereunder. Execution and delivery of an Exercise Notice with respect to less than all of the Warrant Shares shall have the same effect as cancellation of the original of this Warrant and issuance of a new Warrant evidencing the right to purchase the remaining number of Warrant Shares. Execution and delivery of an Exercise Notice for all of the then-remaining Warrant Shares shall have the same effect as cancellation of the original of this Warrant after delivery of the Warrant Shares in accordance with the terms hereof. On or before the first (1<sup>st</sup>) Trading Day following the date on which the Company has received an Exercise Notice, upon checking that the Exercise Information supplied by the Holder is accurate, the Company shall transmit by facsimile or email an acknowledgment of confirmation of receipt of such Exercise Notice, in the form attached hereto as **<u>Exhibit B</u>**, to the Holder and the Company's transfer agent (the "**Transfer Agent**"). On or before the third (3<sup>rd</sup>) Trading Day following the date on which the Company has received such Exercise Notice and, in the event that the Holder has chosen to exercise in cash, the receipt of the payment of the Aggregate Exercise Price, the Company shall instruct the Transfer Agent to issue to the Holder the number of Warrant Shares to which the Holder is entitled pursuant to such exercise and to, at the sole direction of the Holder pursuant to the Exercise Notice, hold such Warrant Shares in electronic form at the Transfer Agent registered in the Company's share register in the name of the Holder or its designee (as indicated in the applicable Exercise Notice), or mail to the Holder or, at the Holder's instruction pursuant to the Exercise Notice, the Holder's agent or designee, in each case, sent by reputable overnight courier to the address as specified in the applicable Exercise Notice, a certificate, registered in the Company's share register in the name of the Holder or its designee (as indicated in the applicable Exercise Notice). Upon delivery of an Exercise Notice and in the event that the Holder has chosen to exercise in cash, the Company's receipt of the payment of the Aggregate Exercise Price, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the certificates evidencing such Warrant Shares (as the case may be). If this Warrant is submitted in connection with any exercise pursuant to this Section 1(a) and the total number of Warrant Shares represented by this Warrant is greater than the number of Warrant Shares being acquired by the Holder upon an exercise, then, at the request of the Holder, the Company shall as soon as practicable and in no event later than three (3) Business Days after any exercise and at its own expense, issue and deliver to the Holder (or its designee) a new Warrant (in accordance with Section 7(d)) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised. No fractional Warrant Shares are to be issued upon the exercise of this Warrant, but rather the number of Warrant Shares to be issued shall be rounded up to the nearest whole number. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company in respect of the issuance or delivery of Warrant Shares upon the exercise of this Warrant, but the Company shall not be obligated to pay any transfer taxes in respect of this Warrant or such shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Exercise Price</u>. For purposes of this **Exercise Price** initially means the Conversion Price defined in the Notes, subject to further adjustment as provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Company's Failure to Timely Deliver Securities</u>. If the Company shall fail, for any reason or for no reason, to issue to the Holder within three (3) Trading Days after receipt of the applicable Exercise Notice, a certificate for the number of Warrant Shares to which the Holder is entitled (or, at the option of the Holders, a book-entry confirmation of the issuance of such Warrant Shares) and register such Warrant Shares on the Company's share register, the Holder will have the right to rescind such exercise. In addition to any other rights available to the Holder, if the Company shall fail, for any reason or for no reason, to issue to the Holder within three (3) Trading Days after receipt of the applicable Exercise Notice, a certificate for the number of Warrant Shares to which the Holder is entitled (or, at the option of the Holders, a book-entry confirmation of the issuance of such Warrant Shares) and register such Warrant Shares on the Company's share register and if on or after such third (3rd) Trading Day the Holder (or any other Person in respect, or on behalf, of the Holder) purchases (in an open market transaction or otherwise) Common Stock to deliver in satisfaction of a sale by the Holder of all or any portion of the number of Warrant Shares, or a sale of a number of Warrant Shares equal to all or any portion of the number of Warrant Shares, issuable upon such exercise that the Holder so anticipated receiving from the Company, then, in addition to all other remedies available to the Holder, the Company shall, within three (3) Business Days after the Holder's request and in the Holder's discretion, either (i) pay cash to the Holder in an amount equal to the Holder's total purchase price (including reasonable brokerage commissions and other reasonable out-of-pocket expenses, if any) for the Warrant Shares so purchased (including, without limitation, by any other Person in respect, or on behalf, of the Holder) (the "**Buy-In Price**"), at which point the Company's obligation to so issue and deliver such certificate or credit the Holder's balance account with DTC for the number of Warrant Shares to which the Holder is entitled upon the Holder's exercise hereunder (as the case may be) (and to issue such Warrant Shares) shall terminate, or (ii) promptly honor its obligation to so issue and deliver to the Holder a certificate or certificates representing such Warrant Shares or credit the Holder's balance account with DTC for the number of Warrant Shares to which the Holder is entitled upon the Holder's exercise hereunder (as the case may be) and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of Warrant Shares multiplied by (B) the lowest Closing Sale Price of the Common Stock on any Trading Day during the period commencing on the date of the applicable Exercise Notice and ending on the date of such issuance and payment under this clause (ii).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Cashless Exercise</u>. Notwithstanding anything contained herein to the contrary, the Holder may, in its sole discretion, exercise this Warrant in whole or in part and, in lieu of making the cash payment otherwise contemplated to be made to the Company upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such Warrant **Cashless Exercise**, provided that the Holder may elect to cashless exercise pursuant to this Section 1(d) only if B as set forth in the following formula is higher than C as set forth in the following formula:

Net Number = <u> (A x B) - (A x C)</u> <br> B

For purposes of the foregoing formula:

A= the total number of shares with respect to which this Warrant is then being exercised.

B= the FMV

C= the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Disputes</u>. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number of Warrant Shares to be issued pursuant to the terms hereof, the Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance with Section 14.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Intentionally Left Blank</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Insufficient Authorized Shares</u>. The Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common Stock as shall be necessary to satisfy Warrant Shares hereunder (without regard to any limitation otherwise contained herein with respect to the number of Warrant Shares that may be acquirable upon exercise of this Warrant). If, notwithstanding the foregoing, and not in limitation thereof, at any time while the Warrant remains outstanding the Company does not have a sufficient number of authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance upon exercise of the Warrant at least a number of shares of Common Stock equal to the number of shares of Common Stock as shall from time to time be necessary to effect the exercise of the Warrant then outstanding (the "**Required Reserve Amount**") (an "**Authorized Share Failure**"), then the Company shall immediately take all action necessary to increase the Company's authorized shares of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve Amount for the Warrant then outstanding. Without limiting the generality of the foregoing sentence, as soon as practicable after the date of the occurrence of an Authorized Share Failure, but in no event later than sixty (60) days after the occurrence of such Authorized Share Failure, the Company shall hold a meeting of its stockholders for the approval of an increase in the number of authorized shares of Common Stock. In connection with such meeting, the Company shall provide each stockholder with a proxy statement and shall use its best efforts to solicit its stockholders' approval of such increase in authorized shares of Common Stock and to cause its board of directors to recommend to the stockholders that they approve such proposal.

2. <u>ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES</u>. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in this Section 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Stock Dividends and Splits</u>. Without limiting any provision of Section 4, if the Company, at any time on or after the date hereof, (i) pays a stock dividend on one or more classes of its then outstanding shares of Common Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its then outstanding shares of Common Stock into a larger number of shares or (iii) combines (by combination, reverse stock split or otherwise) one or more classes of its then outstanding shares of Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination. If any event requiring an adjustment under this paragraph occurs during the period that an Exercise Price is calculated hereunder, then the calculation of such Exercise Price shall be adjusted appropriately to reflect such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Intentionally Left Blank</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Number of Warrant Shares</u>. Simultaneously with any adjustment to the Exercise Price pursuant to only paragraph (a) of this Section 2, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment (without regard to any limitations on exercise contained herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Other Events</u>. In the event that the Company (or any subsidiary) shall take any action to which the provisions hereof are not strictly applicable, or, if applicable, would not operate to protect the Holder from dilution or if any event occurs of the type contemplated by the provisions of this Section 2 but not expressly provided for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features), then the Company's board of directors shall in good faith determine and implement an appropriate adjustment in the Exercise Price and the number of Warrant Shares (if applicable) so as to protect the rights of the Holder, provided that no such adjustment pursuant to this Section 2(d) will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2, provided further that if the Holder does not accept such adjustments as appropriately protecting its interests hereunder against such dilution, then the Company's board of directors and the Holder shall agree, in good faith, upon an independent investment bank of nationally recognized standing to make such appropriate adjustments, whose determination shall be final and binding and whose fees and expenses shall be borne by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Calculations</u>. All calculations under this Section 2 shall be made by rounding to the nearest cent or the nearest 1/100<sup>th</sup> of a share, as applicable. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Company, and the disposition of any such shares shall be considered an issue or sale of Common Stock.

3. <u>RIGHTS UPON DISTRIBUTION OF ASSETS</u>. In addition to any adjustments pursuant to Section 2 above, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a "**Distribution**"), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon a complete exercise of this Warrant (without regard to any limitations on exercise hereof) immediately before the date on which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution.

4. <u>PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Purchase Rights</u>. In addition to any adjustments pursuant to Section 2 above, if at any time while the Warrant remains outstanding and before the Expiration Date, the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the "**Purchase Rights**"), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon a complete exercise of this Warrant (without regard to any limitations on exercise hereof) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Fundamental Transactions</u>. During the term of this Warrant, the Company shall not enter into or be party to a Fundamental Transaction unless the Successor Entity assumes in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 4(b) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder prior to such Fundamental Transaction, such approval not to be unreasonably withheld, conditioned or delayed, including agreements to deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant, including, without limitation, which is exercisable for a corresponding number of shares of capital stock equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such adjustments to the number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction). Upon the consummation of each Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of the applicable Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the "Company" shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein. Upon consummation of each Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall be issued upon exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction, in lieu of the shares of Common Stock (or other securities, cash, assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise of this Warrant prior to the applicable Fundamental Transaction, such shares of publicly traded Common Stock (or its equivalent) of the Successor Entity (including its Parent Entity) which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of this Warrant), as adjusted in accordance with the provisions of this Warrant. Notwithstanding the foregoing, the Holder may elect, at its sole option, by delivery of written notice to the Company to waive this Section 4(b) to permit the Fundamental Transaction without the assumption of this Warrant. In addition to and not in substitution for any other rights hereunder, prior to the consummation of each Fundamental Transaction pursuant to which holders of shares of Common Stock are entitled to receive securities or other assets with respect to or in exchange for shares of Common Stock (a "**Corporate Event**"), the Company shall make appropriate provision to insure that the Holder will thereafter have the right to receive upon an exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction but prior to the Expiration Date, in lieu of the shares of the Common Stock Shares (or other securities, cash, assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise of the Warrant prior to such Fundamental Transaction, such shares of stock, securities, cash, assets or any other property whatsoever (including warrants or other purchase or subscription rights) which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of this Warrant). Provision made pursuant to the preceding sentence shall be in a form and substance reasonably satisfactory to the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Application</u>. The provisions of this Section 4 shall apply similarly and equally to successive Fundamental Transactions and Corporate Events and shall be applied as if this Warrant (and any such subsequent warrants) were fully exercisable and without regard to any limitations on the exercise of this Warrant.

5. <u>NONCIRCUMVENTION</u>. The Company hereby covenants and agrees that the Company will not, by amendment of its certificate of incorporation, bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting the generality of the foregoing, the Company (a) shall not increase the par value of the Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (b) shall take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares of Common Stock upon the exercise of this Warrant, and (c) shall, so long as the Warrant is outstanding, take all action necessary to reserve and keep available out of its authorized and unissued shares of Common Stock, solely for the purpose of effecting the exercise of the Warrant, the maximum number of shares of Common Stock as shall from time to time be necessary to effect the exercise of the Warrant then outstanding (without regard to any limitations on exercise).

6. <u>WARRANT HOLDER NOT DEEMED A STOCKHOLDER</u>. Except as otherwise specifically provided herein, the Holder, solely in its capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in its capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which it is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company. Notwithstanding this Section 6, the Company shall provide the Holder with copies of the same notices and other information given to the stockholders of the Company generally, contemporaneously with the giving thereof to the stockholders.

7. <u>REISSUANCE OF WARRANTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transfer of Warrant</u>. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon the Company will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(d)), registered as the Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and, if less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with Section 7(d)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Lost, Stolen or Mutilated Warrant</u>. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant (as to which a written certification and the indemnification contemplated below shall suffice as such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company in customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder a new Warrant (in accordance with Section 7(d)) representing the right to purchase the Warrant Shares then underlying this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Exchangeable for Multiple Warrants</u>. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right to purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however, no warrants for fractional shares of Common Stock shall be given.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Issuance of New Warrants</u>. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant (i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Section 7(a) or Section 7(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common Stock underlying the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

8. <u>NOTICES; PAYMENTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall provide the Holder with prompt written notice of all actions taken pursuant to this Warrant, including in reasonable detail a description of such action and the reason therefor. Without limiting the generality of the foregoing, the Company will give written notice to the Holder (i) immediately upon each adjustment of the Exercise Price and the number of Warrant Shares, setting forth in reasonable detail, and certifying, the calculation of such adjustment(s) and (ii) at least fifteen (15) days prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon the shares of <u>Common Stock</u>, (B) with respect to any grants, issuances or sales of any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property to holders of shares of <u>Common Stock</u> or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in each case that such information shall be made known to the public prior to or in conjunction with such notice being provided to the Holder and (iii) at least ten (10) Trading Days prior to the consummation of any Fundamental Transaction. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of its subsidiaries, the Company shall simultaneously file such notice with the SEC pursuant to a Current Report on Form 8-K. It is expressly understood and agreed that the time of execution specified by the Holder in each Exercise Notice shall be definitive and may not be disputed or challenged by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Payments</u>. Whenever any payment is to be made by the Company to any Person pursuant to this Warrant, such payment shall be made in lawful money of the United States of America via wire transfer of U.S. Dollars in immediately available funds in accordance with the s wire transfer instructions delivered to the Company on or prior to such payment date or, in the absence of such instructions, by a certified check drawn on the account of the Company and sent via overnight courier service to such Person at such address as previously provided to the Company in writing.

9. <u>AMENDMENT AND WAIVER</u>. Except as otherwise provided herein, the provisions of this Warrant may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the written consent of the Holder. No waiver shall be effective unless it is in writing and signed by an authorized representative of the waiving party.

10. <u>SEVERABILITY</u>. If any provision of this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining provisions of this Warrant so long as this Warrant as so modified continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

11. <u>GOVERNING LAW</u>. This Warrant shall be governed by and construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and performance of this Warrant shall be governed by, the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdiction other than the State of New York. The Company hereby irrevocably submits to the exclusive jurisdiction of the federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude the Holder from bringing suit or taking other legal the Holder or to enforce a judgment or other court ruling in favor of the Holder. If service of process is effected pursuant to the above sentence, such service will be deemed sufficient under New York law and the Company shall not assert otherwise. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. **THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.**

12. <u>Reserved</u>.

13. <u>CONSTRUCTION; HEADINGS</u>. This Warrant shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or affect the interpretation of, this Warrant. Terms used in this Warrant but defined in the other Transaction Documents shall have the meanings ascribed to such terms on the Closing Date in such other Transaction Documents unless otherwise consented to in writing by the Holder.

14. <u>DISPUTE RESOLUTION</u>. In the case of a dispute as to the determination of the Exercise Price or FMV or the arithmetic calculation of the Warrant Shares (as the case may be), the Company or the Holder (as the case may be) shall submit the disputed determinations or arithmetic calculations (as the case may be) via facsimile (a) within two (2) Business Days after receipt of the applicable notice giving rise to such dispute to the Company or the Holder (as the case may be) or (b) if no notice gave rise to such dispute, at any time after the Holder learned of the circumstances giving rise to such dispute (including, without limitation, as to whether any issuance or sale or deemed issuance or sale was an issuance or sale or deemed issuance or sale of Excluded Securities). If the Holder and the Company are unable to agree upon such determination or calculation (as the case may be) of the Exercise Price, or FMV or the number of Warrant Shares (as the case may be) within three (3) Business Days of such disputed determination or arithmetic calculation being submitted to the Company or the Holder (as the case may be), then the Company shall, within two (2) Business Days submit via facsimile (i) the disputed determination of the Exercise Price or FMV (as the case may be) to an independent, reputable investment bank selected by the Holder or (ii) the disputed arithmetic calculation of the Warrant Shares to the Company's independent, outside accountant. The Company shall cause at its expense the investment bank or the accountant (as the case may be) to perform the determinations or calculations (as the case may be) and notify the Company and the Holder of the results no later than ten (10) Business Days from the time it receives such disputed determinations or calculations (as the case may be). Such investment bank's or accountant's determination or calculation (as the case may be) shall be binding upon all parties absent demonstrable error.

15. <u>REMEDIES, CHARACTERIZATION, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF</u>. The remedies provided in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the holder of this Warrant shall be entitled, in addition to all other available remedies, to an injunction restraining any breach, without the necessity of showing economic loss and without any bond or other security being required. The Company shall provide all information and documentation to compliance with the terms and conditions of this Warrant (including, without limitation, compliance with Section 2 hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this Warrant shall be made without charge to the Holder or such shares for any issuance tax or other costs in respect thereof, provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any certificate in a name other than the Holder or its agent on its behalf.

16. <u>TRANSFER</u>. This Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company.

17. <u>CERTAIN DEFINITIONS</u>. For purposes of this Warrant, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Bloomberg** means Bloomberg, L.P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Business Day** means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Closing Sale Price** means, for any security as of any date, the last closing trade price for such security on the Eligible Market, as reported by Bloomberg, or, if the Eligible Market begins to operate on an extended hours basis and does not designate the closing trade price, then the last trade price of such security prior to 4:00 p.m., New York time, as reported by Bloomberg, or, if the Eligible Market is not the principal securities exchange or trading market for such security, the last trade price of such security on the principal securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing does not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg, or, if no last trade price is reported for such security by Bloomberg, the average of the ask prices of any market makers for such security as reported in the "pink sheets" by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance with the procedures in Section 14. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **Convertible Securities** means any stock or other security (other than Options) that is at any time and under any circumstances, directly or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles the holder thereof to acquire, any shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **Eligible Market** means the New York Stock Exchange, the NYSE American, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **Expiration Date** means the date that is five years from the Issuance Date, or, if such date falls on a day other than a Business Day or on which trading does not take place on the Eligible Market (a "**Holiday**"), the next date that is not a Holiday.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **FINRA** means the Financial Industry Regulatory Authority, Inc. in the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Fundamental Transaction** means that (i) the Company or any of its Subsidiaries shall, directly or indirectly, in one or more related transactions, (A) consolidate or merge with or into (whether or not the Company or any of its Subsidiaries is the surviving corporation) any other Person, or (B) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of its respective properties or assets to any other Person, or (C) allow any other Person to make a purchase, tender or exchange offer that is accepted by the holders of more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (D) consummate a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with any other Person whereby such other Person acquires more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination), or (E) (1) reorganize, recapitalize or reclassify the Common Stock, (2) effect or consummate a stock combination, reverse stock split or other similar transaction involving the Common Stock or (3) make any public announcement or disclosure with respect to any stock combination, reverse stock split or other similar transaction involving the Common Stock (including, without limitation, any public announcement or disclosure of (a) any potential, possible or actual stock combination, reverse stock split or other similar transaction involving the Common Stock or (b) board or stockholder approval thereof, or the intention of the Company to seek board or stockholder approval of any stock combination, reverse stock split or other similar transaction involving the Common Stock), or (ii) any "person" or "group" (as these terms are used for purposes of Sections 13(d) and 14(d) of the 1934 Act and the rules and regulations promulgated thereunder) is or shall become the "beneficial owner" (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued and outstanding Voting Stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) **Options** means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) **Parent Entity** of a Person means an entity that, directly or indirectly, controls the applicable Person and whose Common Stock or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of consummation of the Fundamental Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) **Person** venture, a corporation, a trust, an unincorporated organization, any other entity or a government or any department or agency thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) **SEC** means the United States Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) **Successor Entity** means the Person (or, if so elected by the Holder, the Parent Entity) formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered into.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) **Trading Day** means any day on which the Common Stock is traded on the Eligible Market, or, if the Eligible Market is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded, provided that "Trading Day" shall not include any day on which the Common Stock is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00 p.m., New York time) unless such day is otherwise designated as a Trading Day in writing by the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) **Voting Stock** of a Person means capital stock of such Person of the class or classes pursuant to which the holders thereof have the general voting power to elect, or the general power to appoint, at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time capital stock of any other class or classes shall have or might have voting power by reason of the happening of any contingency).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) **FMV** means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Eligible Market, the value shall be deemed to be the highest intra-day or closing price on any trading day on such Eligible Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)) during the five trading days preceding the exercise, (b) if OTCQB or OTCQX is not an Eligible Market, the value shall be deemed to be the highest intra-day or closing price on any trading day on the OTCQB or OTCQX on which the Common Stock is then quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)) during the five trading days preceding the exercise, as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the to be the highest intra-day or closing price on any trading day on the Pink Sheets on which the Common Stock is then quoted as reported by OTC Markets Group (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)) during the five trading days preceding the exercise, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

[*signature page follows*]

**IN WITNESS WHEREOF,** the Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date set out above.

---

| | |
|:---|:---|
| **RVeloCITY, Inc. dba RVnGO** | **RVeloCITY, Inc. dba RVnGO** |
| By: | */s/ Paul Kacir* |
| Name: | Paul Kacir |
| Title: | CEO |

---

**EXHIBIT A**

**EXERCISE NOTICE**

**TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS WARRANT TO PURCHASE COMMON STOCK**

**RVeloCITY, Inc. dba RVnGO**

The undersigned holder hereby exercises the right to purchase __________ Common Stock ("**Warrant Shares**") **RVeloCITY, Inc. dba RVnGO**, an Arizona corporation (the **Company**"), evidenced by Warrant to Purchase Common Stock No. ______ (the "**Warrant**"). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Form of Exercise Price</u>. The Holder intends that payment of the Exercise Price shall be made as:

---

| |
|:---|
| a "<u>Cash Exercise</u>" with respect to ___________________ |
| Warrant Shares; and/or |
| a "<u>Cashless Exercise</u>" with respect to _________________ |
| Warrant Shares. |

---

In the event that the Holder has elected a Cashless Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the Holder hereby represents and warrants that (i) this Exercise Notice was executed by the Holder on the date set forth below and (ii) if applicable, the FMV as of the date prior to the date of the Exercise Notice was $_______.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Form of Exercise Price</u>. The Holder intends that payment of the Exercise Price shall be made as a "Cash Exercise".]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Payment of Exercise Price</u>. In the event that the Holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the Holder shall pay the Aggregate Exercise Price in the sum of $__________ to the Company in accordance with the terms of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Delivery of Warrant Shares</u>. The Company shall deliver to Holder, or its designee or agent as specified below, __________ Warrant Shares in accordance with the terms of the Warrant. Delivery shall be made to Holder, or for its benefit, as follows:

☐ Check here if requesting delivery as a certificate to the following name and to the following address:

Issue to:

☐ Check here if requesting delivery by Deposit/Withdrawal at Custodian as follows:

---

| |
|:---|
| DTC Participant: |
| DTC Number: |
| Account Number: |

---

Date: ____________________, ______, ______

  <br> Name of Registered Holder

By:  <br> Name: <br> Title:

Tax ID:   <br>Facsimile:  

**EXHIBIT B**

**ACKNOWLEDGMENT**

The Company hereby acknowledges this Exercise Notice and hereby directs to issue the above indicated number of shares of Common Stock in accordance with the Transfer Agent Instructions dated , 20__, from the Company and acknowledged and agreed to by .

---

| |
|:---|
| **RVeloCITY, Inc. dba RVnGO** |
| By: |
| Name: |
| Title: |

---

## Exhibit 10.9

**Exhibit 10.9**

**THESE WARRANTS AND ANY SHARES ACQUIRED UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY APPLICABLE STATE SECURITIES LAWS. THESE WARRANTS AND SUCH SHARES AND ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SUCH ACT AND UNDER ANY APPLICABLE STATE SECURITIES LAWS. THESE WARRANTS AND SUCH SHARES MAY NOT BE EXERCISED OR TRANSFERRED EXCEPT UPON THE CONDITIONS SPECIFIED IN THIS WARRANT CERTIFICATE, AND NO EXERCISE OR TRANSFER OF THESE WARRANTS OR TRANSFER OF SUCH SHARES SHALL BE VALID OR EFFECTIVE UNLESS AND UNTIL SUCH CONDITIONS SHALL HAVE BEEN COMPLIED WITH.**

**RVeloCITY, INC. dba RVnGO**

**WARRANT TO PURCHASE COMMON STOCK**

Warrant No.: <u>PA-2</u>

Date of Issuance: February 24, 2022 ("Issuance Date")

**RVeloCITY, Inc. dba RVnGO**, an Arizona corporation (the "**Company**"), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, **Boustead Securities, LLC**, the registered holder hereof or its permitted assigns (the "**Holder**"), is entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise Price (as defined below) then in effect, Company Class "A" common stock, par value $0.125 ("**Common Stock**") (including any Warrants to purchase shares issued in exchange, transfer or replacement hereof, the "Warrant"), at any time or times on or after the date hereof, to the extent permitted by the applicable SEC and FINRA rules, but not after 11:59 p.m., Eastern Time, on the Expiration Date (as defined below), such number (subject to adjustment as provided herein) of fully paid and non-assessable shares of Common Stock equal to seven percent (7%) of the shares of Company common stock into which the Company's Convertible Notes dated February 24, 2022 in the principal amount of $480,000.00 (the "**Notes**") converts into (the "Warrant Shares").

1. EXERCISE OF WARRANT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Mechanics of Exercise. Subject to the terms and conditions hereof, this Warrant may be exercised by the Holder on any day on or after the date hereof, to the extent permitted by the applicable SEC and FINRA rules, in whole or in part, by delivery (whether via facsimile, email, or otherwise) of a written notice, in the form attached hereto as **Exhibit A** (the "**Exercise Notice**"), of the Holder's election to exercise this Warrant, by submitting information including the then- applicable Exercise Price, number of Warrant Shares purchased equal to or lower than the then- applicable number of Warrant Shares and the FMV (collectively, the "**Exercise Information**"). Within one (1) Trading Day following an exercise of this Warrant as aforesaid, the Holder shall deliver payment to the Company of an amount equal to the Exercise Price in effect on the date of such exercise multiplied by the number of Warrant Shares as to which this Warrant was so exercised (the "**Aggregate Exercise Price**") in cash or via wire transfer of immediately available funds if, subject to the provisions of Section 1(d), the Holder has not notified the Company in such Exercise Notice that such exercise is made pursuant to a Cashless Exercise (as defined in Section 1(d)) at a time and under circumstances which permit a Cashless Exercise. The Holder shall not be required to deliver the original of this Warrant in order to effect an exercise hereunder. Execution and delivery of an Exercise Notice with respect to less than all of the Warrant Shares shall have the same effect as cancellation of the original of this Warrant and issuance of a new Warrant evidencing the right to purchase the remaining number of Warrant Shares. Execution and delivery of an Exercise Notice for all of the then-remaining Warrant Shares shall have the same effect as cancellation of the original of this Warrant after delivery of the Warrant Shares in accordance with the terms hereof. On or before the first (1st) Trading Day following the date on which the Company has received an Exercise Notice, upon checking that the Exercise Information supplied by the Holder is accurate, the Company shall transmit by facsimile or email an acknowledgment of confirmation of receipt of such Exercise Notice, in the form attached hereto as <u>Exhibit B</u>, to the Holder and the Company's transfer agent (the "**Transfer Agent**"). On or before the third (3rd) Trading Day following the date on which the Company has received such Exercise Notice and, in the event that the Holder has chosen to exercise in cash, the receipt of the payment of the Aggregate Exercise Price, the Company shall instruct the Transfer Agent to issue to the Holder the number of Warrant Shares to which the Holder is entitled pursuant to such exercise and to, at the sole direction of the Holder pursuant to the Exercise Notice, hold such Warrant Shares in electronic form at the Transfer Agent registered in the Company's share register in the name of the Holder or its designee (as indicated in the applicable Exercise Notice), or mail to the Holder or, at the Holder's instruction pursuant to the Exercise Notice, the Holder's agent or designee, in each case, sent by reputable overnight courier to the address as specified in the applicable Exercise Notice, a certificate, registered in the Company's share register in the name of the Holder or its designee (as indicated in the applicable Exercise Notice). Upon delivery of an Exercise Notice and in the event that the Holder has chosen to exercise in cash, the Company's receipt of the payment of the Aggregate Exercise Price, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the certificates evidencing such Warrant Shares (as the case may be). If this Warrant is submitted in connection with any exercise pursuant to this Section 1(a) and the total number of Warrant Shares represented by this Warrant is greater than the number of Warrant Shares being acquired by the Holder upon an exercise, then, at the request of the Holder, the Company shall as soon as practicable and in no event later than three (3) Business Days after any exercise and at its own expense, issue and deliver to the Holder (or its designee) a new Warrant (in accordance with Section 7(d)) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised. No fractional Warrant Shares are to be issued upon the exercise of this Warrant, but rather the number of Warrant Shares to be issued shall be rounded up to the nearest whole number. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company in respect of the issuance or delivery of Warrant Shares upon the exercise of this Warrant, but the Company shall not be obligated to pay any transfer taxes in respect of this Warrant or such shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Exercise Price</u>. For purposes of this Warrant, "Exercise Price" initially means the Conversion Price defined in the Notes, subject to further adjustment as provided herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Company's Failure to Timely Deliver Securities</u>. If the Company shall fail, for any reason or for no reason, to issue to the Holder within three (3) Trading Days after receipt of the applicable Exercise Notice, a certificate for the number of Warrant Shares to which the Holder is entitled (or, at the option of the Holders, a book-entry confirmation of the issuance of such Warrant Shares) and register such Warrant Shares on the Company's share register, the Holder will have the right to rescind such exercise. In addition to any other rights available to the Holder, if the Company shall fail, for any reason or for no reason, to issue to the Holder within three (3) Trading Days after receipt of the applicable Exercise Notice, a certificate for the number of Warrant Shares to which the Holder is entitled (or, at the option of the Holders, a book-entry confirmation of the issuance of such Warrant Shares) and register such Warrant Shares on the Company's share register and if on or after such third (3rd) Trading Day the Holder (or any other Person in respect, or on behalf, of the Holder) purchases (in an open market transaction or otherwise) Common Stock to deliver in satisfaction of a sale by the Holder of all or any portion of the number of Warrant Shares, or a sale of a number of Warrant Shares equal to all or any portion of the number of Warrant Shares, issuable upon such exercise that the Holder so anticipated receiving from the Company, then, in addition to all other remedies available to the Holder, the Company shall, within three (3) Business Days after the Holder's request and in the Holder's discretion, either (i) pay cash to the Holder in an amount equal to the Holder's total purchase price (including reasonable brokerage commissions and other reasonable out-of-pocket expenses, if any) for the Warrant Shares so purchased (including, without limitation, by any other Person in respect, or on behalf, of the Holder) (the "**Buy-In Price**"), at which point the Company's obligation to so issue and deliver such certificate or credit the Holder's balance account with DTC for the number of Warrant Shares to which the Holder is entitled upon the Holder's exercise hereunder (as the case may be) (and to issue such Warrant Shares) shall terminate, or (ii) promptly honor its obligation to so issue and deliver to the Holder a certificate or certificates representing such Warrant Shares or credit the Holder's balance account with DTC for the number of Warrant Shares to which the Holder is entitled upon the Holder's exercise hereunder (as the case may be) and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of Warrant Shares multiplied by (B) the lowest Closing Sale Price of the Common Stock on any Trading Day during the period commencing on the date of the applicable Exercise Notice and ending on the date of such issuance and payment under this clause (ii).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Cashless Exercise</u>. Notwithstanding anything contained herein to the contrary, the Holder may, in its sole discretion, exercise this Warrant in whole or in part and, in lieu of making the cash payment otherwise contemplated to be made to the Company upon such exercise in payment of the Aggregate Exercise Price, elect instead to receive upon such exercise the "Net Number" of Warrant Shares determined according to the following formula (a "Cashless Exercise"), provided that the Holder may elect to cashless exercise pursuant to this Section 1(d) only if B as set forth in the following formula is higher than C as set forth in the following formula:

Net Number = <u>(A x B) - (A x C)</u>

B

For purposes of the foregoing formula:

A= the total number of shares with respect to which this Warrant is then being exercised.

B= the FMV

C= the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Disputes</u>. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number of Warrant Shares to be issued pursuant to the terms hereof, the Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance with Section 14.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Intentionally Left Blank</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Insufficient Authorized Shares</u>. The Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common Stock as shall be necessary to satisfy the Company's obligation to issue Warrant Shares hereunder (without regard to any limitation otherwise contained herein with respect to the number of Warrant Shares that may be acquirable upon exercise of this Warrant). If, notwithstanding the foregoing, and not in limitation thereof, at any time while the Warrant remains outstanding the Company does not have a sufficient number of authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance upon exercise of the Warrant at least a number of shares of Common Stock equal to the number of shares of Common Stock as shall from time to time be necessary to effect the exercise of the Warrant then outstanding (the "**Required Reserve Amount**") (an "**Authorized Share Failure**"), then the Company shall immediately take all action necessary to increase the Company's authorized shares of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve Amount for the Warrant then outstanding. Without limiting the generality of the foregoing sentence, as soon as practicable after the date of the occurrence of an Authorized Share Failure, but in no event later than sixty (60) days after the occurrence of such Authorized Share Failure, the Company shall hold a meeting of its stockholders for the approval of an increase in the number of authorized shares of Common Stock. In connection with such meeting, the Company shall provide each stockholder with a proxy statement and shall use its best efforts to solicit its stockholders' approval of such increase in authorized shares of Common Stock and to cause its board of directors to recommend to the stockholders that they approve such proposal.

2. ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in this Section 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Stock Dividends and Splits</u>. Without limiting any provision of Section 4, if the Company, at any time on or after the date hereof, (i) pays a stock dividend on one or more classes of its then outstanding shares of Common Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its then outstanding shares of Common Stock into a larger number of shares or (iii) combines (by combination, reverse stock split or otherwise) one or more classes of its then outstanding shares of Common Stock into a smaller number of shares, then in each such case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination. If any event requiring an adjustment under this paragraph occurs during the period that an Exercise Price is calculated hereunder, then the calculation of such Exercise Price shall be adjusted appropriately to reflect such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Intentionally Left Blank</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Number of Warrant Shares</u>. Simultaneously with any adjustment to the Exercise Price pursuant to only paragraph (a) of this Section 2, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment (without regard to any limitations on exercise contained herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Other Events</u>. In the event that the Company (or any subsidiary) shall take any action to which the provisions hereof are not strictly applicable, or, if applicable, would not operate to protect the Holder from dilution or if any event occurs of the type contemplated by the provisions of this Section 2 but not expressly provided for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features), then the Company's board of directors shall in good faith determine and implement an appropriate adjustment in the Exercise Price and the number of Warrant Shares (if applicable) so as to protect the rights of the Holder, provided that no such adjustment pursuant to this Section 2(d) will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2, provided further that if the Holder does not accept such adjustments as appropriately protecting its interests hereunder against such dilution, then the Company's board of directors and the Holder shall agree, in good faith, upon an independent investment bank of nationally recognized standing to make such appropriate adjustments, whose determination shall be final and binding and whose fees and expenses shall be borne by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Calculations</u>. All calculations under this Section 2 shall be made by rounding to the nearest cent or the nearest 1/100th of a share, as applicable. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Company, and the disposition of any such shares shall be considered an issue or sale of Common Stock.

3. RIGHTS UPON DISTRIBUTION OF ASSETS. In addition to any adjustments pursuant to Section 2 above, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a "**Distribution**"), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon a complete exercise of this Warrant (without regard to any limitations on exercise hereof) immediately before the date on which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution.

4. PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Purchase Rights</u>. In addition to any adjustments pursuant to Section 2 above, if at any time while the Warrant remains outstanding and before the Expiration Date, the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the "**Purchase Rights**"), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon a complete exercise of this Warrant (without regard to any limitations on exercise hereof) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Fundamental Transactions.</u> During the term of this Warrant, the Company shall not enter into or be party to a Fundamental Transaction unless the Successor Entity assumes in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 4(b) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder prior to such Fundamental Transaction, such approval not to be unreasonably withheld, conditioned or delayed, including agreements to deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant, including, without limitation, which is exercisable for a corresponding number of shares of capital stock equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such adjustments to the number of shares of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction). Upon the consummation of each Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of the applicable Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the "Company" shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein. Upon consummation of each Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall be issued upon exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction, in lieu of the shares of Common Stock (or other securities, cash, assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise of this Warrant prior to the applicable Fundamental Transaction, such shares of publicly traded Common Stock (or its equivalent) of the Successor Entity (including its Parent Entity) which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of this Warrant), as adjusted in accordance with the provisions of this Warrant. Notwithstanding the foregoing, the Holder may elect, at its sole option, by delivery of written notice to the Company to waive this Section 4(b) to permit the Fundamental Transaction without the assumption of this Warrant. In addition to and not in substitution for any other rights hereunder, prior to the consummation of each Fundamental Transaction pursuant to which holders of shares of Common Stock are entitled to receive securities or other assets with respect to or in exchange for shares of Common Stock (a "Corporate Event"), the Company shall make appropriate provision to insure that the Holder will thereafter have the right to receive upon an exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction but prior to the Expiration Date, in lieu of the shares of the Common Stock Shares (or other securities, cash, assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise of the Warrant prior to such Fundamental Transaction, such shares of stock, securities, cash, assets or any other property whatsoever (including warrants or other purchase or subscription rights) which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of this Warrant). Provision made pursuant to the preceding sentence shall be in a form and substance reasonably satisfactory to the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Application. The provisions of this Section 4 shall apply similarly and equally to successive Fundamental Transactions and Corporate Events and shall be applied as if this Warrant (and any such subsequent warrants) were fully exercisable and without regard to any limitations on the exercise of this Warrant.

5. <u>NONCIRCUMVENTION</u>. The Company hereby covenants and agrees that the Company will not, by amendment of its certificate of incorporation, bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting the generality of the foregoing, the Company (a) shall not increase the par value of the Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (b) shall take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares of Common Stock upon the exercise of this Warrant, and (c) shall, so long as the Warrant is outstanding, take all action necessary to reserve and keep available out of its authorized and unissued shares of Common Stock, solely for the purpose of effecting the exercise of the Warrant, the maximum number of shares of Common Stock as shall from time to time be necessary to effect the exercise of the Warrant then outstanding (without regard to any limitations on exercise).

6. <u>WARRANT HOLDER NOT DEEMED A STOCKHOLDER</u>. Except as otherwise specifically provided herein, the Holder, solely in its capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in its capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the Warrant Shares which it is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company. Notwithstanding this Section 6, the Company shall provide the Holder with copies of the same notices and other information given to the stockholders of the Company generally, contemporaneously with the giving thereof to the stockholders.

7. <u>REISSUANCE OF WARRANTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Transfer of Warrant</u>. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon the Company will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(d)), registered as the Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and, if less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with Section 7(d)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Lost, Stolen or Mutilated Warrant</u>. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant (as to which a written certification and the indemnification contemplated below shall suffice as such evidence), and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company in customary and reasonable form and, in the case of mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder a new Warrant (in accordance with Section 7(d)) representing the right to purchase the Warrant Shares then underlying this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Exchangeable for Multiple Warrants</u>. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office of the Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right to purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however, no warrants for fractional shares of Common Stock shall be given.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Issuance of New Warrants</u>. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant (i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant, the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Section 7(a) or Section 7(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common Stock underlying the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

8. <u>NOTICES;PAYMENTS</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall provide the Holder with prompt written notice of all actions taken pursuant to this Warrant, including in reasonable detail a description of such action and the reason therefor. Without limiting the generality of the foregoing, the Company will give written notice to the Holder (i) immediately upon each adjustment of the Exercise Price and the number of Warrant Shares, setting forth in reasonable detail, and certifying, the calculation of such adjustment(s) and (ii) at least fifteen (15) days prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon the shares of <u>Common Stock</u>, (B) with respect to any grants, issuances or sales of any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property to holders of shares of <u>Common Stock</u> or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in each case that such information shall be made known to the public prior to or in conjunction with such notice being provided to the Holder and (iii) at least ten (10) Trading Days prior to the consummation of any Fundamental Transaction. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of its subsidiaries, the Company shall simultaneously file such notice with the SEC pursuant to a Current Report on Form 8-K. It is expressly understood and agreed that the time of execution specified by the Holder in each Exercise Notice shall be definitive and may not be disputed or challenged by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Payments</u>. Whenever any payment is to be made by the Company to any Person pursuant to this Warrant, such payment shall be made in lawful money of the United States of America via wire transfer of U.S. Dollars in immediately available funds in accordance with the Holder's wire transfer instructions delivered to the Company on or prior to such payment date or, in the absence of such instructions, by a certified check drawn on the account of the Company and sent via overnight courier service to such Person at such address as previously provided to the Company in writing.

9. <u>AMENDMENT AND WAIVER</u>. Except as otherwise provided herein, the provisions of this Warrant may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the written consent of the Holder. No waiver shall be effective unless it is in writing and signed by an authorized representative of the waiving party.

10. <u>SEVERABILITY</u>. If any provision of this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining provisions of this Warrant so long as this Warrant as so modified continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).

11. <u>GOVERNING LAW</u>. This Warrant shall be governed by and construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and performance of this Warrant shall be governed by, the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdiction other than the State of New York. The Company hereby irrevocably submits to the exclusive jurisdiction of the federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude the Holder from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company's obligations to the Holder or to enforce a judgment or other court ruling in favor of the Holder. If service of process is effected pursuant to the above sentence, such service will be deemed sufficient under New York law and the Company shall not assert otherwise. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. **THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.**

12. <u>Reserved</u>.

13. <u>CONSTRUCTION; HEADINGS</u>. This Warrant shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against any Person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or affect the interpretation of, this Warrant. Terms used in this Warrant but defined in the other Transaction Documents shall have the meanings ascribed to such terms on the Closing Date in such other Transaction Documents unless otherwise consented to in writing by the Holder.

14. <u>DISPUTE RESOLUTION</u>. In the case of a dispute as to the determination of the Exercise Price or FMV or the arithmetic calculation of the Warrant Shares (as the case may be), the Company or the Holder (as the case may be) shall submit the disputed determinations or arithmetic calculations (as the case may be) via facsimile (a) within two (2) Business Days after receipt of the applicable notice giving rise to such dispute to the Company or the Holder (as the case may be) or (b) if no notice gave rise to such dispute, at any time after the Holder learned of the circumstances giving rise to such dispute (including, without limitation, as to whether any issuance or sale or deemed issuance or sale was an issuance or sale or deemed issuance or sale of Excluded Securities). If the Holder and the Company are unable to agree upon such determination or calculation (as the case may be) of the Exercise Price, or FMV or the number of Warrant Shares (as the case may be) within three (3) Business Days of such disputed determination or arithmetic calculation being submitted to the Company or the Holder (as the case may be), then the Company shall, within two (2) Business Days submit via facsimile (i) the disputed determination of the Exercise Price or FMV (as the case may be) to an independent, reputable investment bank selected by the Holder or (ii) the disputed arithmetic calculation of the Warrant Shares to the Company's independent, outside accountant. The Company shall cause at its expense the investment bank or the accountant (as the case may be) to perform the determinations or calculations (as the case may be) and notify the Company and the Holder of the results no later than ten (10) Business Days from the time it receives such disputed determinations or calculations (as the case may be). Such investment bank's or accountant's determination or calculation (as the case may be) shall be binding upon all parties absent demonstrable error.

15. <u>REMEDIES, CHARACTERIZATION, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF</u>. The remedies provided in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the holder of this Warrant shall be entitled, in addition to all other available remedies, to an injunction restraining any breach, without the necessity of showing economic loss and without any bond or other security being required. The Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the Company's compliance with the terms and conditions of this Warrant (including, without limitation, compliance with Section 2 hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this Warrant shall be made without charge to the Holder or such shares for any issuance tax or other costs in respect thereof, provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any certificate in a name other than the Holder or its agent on its behalf.

16. <u>TRANSFER</u>. This Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company.

17. <u>CERTAIN DEFINITIONS</u>. For purposes of this Warrant, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Bloomberg**" means Bloomberg, L.P.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Business Day**" means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Closing Sale Price**" means, for any security as of any date, the last closing trade price for such security on the Eligible Market, as reported by Bloomberg, or, if the Eligible Market begins to operate on an extended hours basis and does not designate the closing trade price, then the last trade price of such security prior to 4:00 p.m., New York time, as reported by Bloomberg, or, if the Eligible Market is not the principal securities exchange or trading market for such security, the last trade price of such security on the principal securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing does not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg, or, if no last trade price is reported for such security by Bloomberg, the average of the ask prices of any market makers for such security as reported in the "pink sheets" by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance with the procedures in Section 14. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Convertible Securities**" means any stock or other security (other than Options) that is at any time and under any circumstances, directly or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles the holder thereof to acquire, any shares of Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "**Eligible Market**" means The New York Stock Exchange, the NYSE American, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "**Expiration Date**" means the date that is five years from the Issuance Date, or, if such date falls on a day other than a Business Day or on which trading does not take place on the Eligible Market (a "Holiday"), the next date that is not a Holiday.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "**FINRA**" means the Financial Industry Regulatory Authority, Inc. in the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "**Fundamental Transaction**" means that (i) the Company or any of its Subsidiaries shall, directly or indirectly, in one or more related transactions, (A) consolidate or merge with or into (whether or not the Company or any of its Subsidiaries is the surviving corporation) any other Person, or (B) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of its respective properties or assets to any other Person, or (C) allow any other Person to make a purchase, tender or exchange offer that is accepted by the holders of more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (D) consummate a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with any other Person whereby such other Person acquires more than 50% of the outstanding shares of Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination), or (E) (1) reorganize, recapitalize or reclassify the Common Stock, (2) effect or consummate a stock combination, reverse stock split or other similar transaction involving the Common Stock or (3) make any public announcement or disclosure with respect to any stock combination, reverse stock split or other similar transaction involving the Common Stock (including, without limitation, any public announcement or disclosure of (a) any potential, possible or actual stock combination, reverse stock split or other similar transaction involving the Common Stock or (b) board or stockholder approval thereof, or the intention of the Company to seek board or stockholder approval of any stock combination, reverse stock split or other similar transaction involving the Common Stock), or (ii) any "person" or "group" (as these terms are used for purposes of Sections 13(d) and 14(d) of the 1934 Act and the rules and regulations promulgated thereunder) is or shall become the "beneficial owner" (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued and outstanding Voting Stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) "**Options**" means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) "**Parent Entity**" of a Person means an entity that, directly or indirectly, controls the applicable Person and whose Common Stock or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of consummation of the Fundamental Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) "**Person**" means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other entity or a government or any department or agency thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) "**SEC**" means the United States Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) "**Successor Entity**" means the Person (or, if so elected by the Holder, the Parent Entity) formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with which such Fundamental Transaction shall have been entered into.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) "**Trading Day**" means any day on which the Common Stock is traded on the Eligible Market, or, if the Eligible Market is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded, provided that "Trading Day" shall not include any day on which the Common Stock is scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00 p.m., New York time) unless such day is otherwise designated as a Trading Day in writing by the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) "**Voting Stock**" of a Person means capital stock of such Person of the class or classes pursuant to which the holders thereof have the general voting power to elect, or the general power to appoint, at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time capital stock of any other class or classes shall have or might have voting power by reason of the happening of any contingency).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) "**FMV**" means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Eligible Market, the value shall be deemed to be the highest intra-day or closing price on any trading day on such Eligible Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)) during the five trading days preceding the exercise, (b) if OTCQB or OTCQX is not an Eligible Market, the value shall be deemed to be the highest intra-day or closing price on any trading day on the OTCQB or OTCQX on which the Common Stock is then quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)) during the five trading days preceding the exercise, as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported in the "Pink Sheets" published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the "OTC Markets Group", the value shall be deemed to be the highest intra-day or closing price on any trading day on the Pink Sheets on which the Common Stock is then quoted as reported by OTC Markets Group (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)) during the five trading days preceding the exercise, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

[signature page follows]

**IN WITNESS WHEREOF**, the Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date set out above.

---

| | |
|:---|:---|
| RVeloCITY, Inc. dba RVnGO | RVeloCITY, Inc. dba RVnGO |
| By: | */s/ Paul Kacir* |
| Name: | Paul Kacir |
| Title: | CEO |

---

EXHIBIT A

**EXERCISE NOTICE**

**TO BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS<br> WARRANT TO PURCHASE COMMON STOCK**

**RVeloCITY, Inc. dba RVnGO**

The undersigned holder hereby exercises the right to purchase ________________Common Stock ("**Warrant Shares**") of **RVeloCITY, Inc. dba RVnGO**, an Arizona corporation (the "Company"), evidenced by Warrant to Purchase Common Stock No. (the "**Warrant**"). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Form of Exercise Price</u>. The Holder intends that payment of the Exercise Price shall be made as:

_____________________ a "<u>Cash Exercise</u>" with respect to _____________________

Warrant Shares; and/or

_____________________ a "Cashless Exercise" with respect to _____________________

Warrant Shares.

In the event that the Holder has elected a Cashless Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the Holder hereby represents and warrants that (i) this Exercise Notice was executed by the Holder on the date set forth below and (ii) if applicable, the FMV as of the date prior to the date of the Exercise Notice was $________.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Form of Exercise Price</u>. The Holder intends that payment of the Exercise Price shall be made as a "Cash Exercise".]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Payment of Exercise Price</u>. In the event that the Holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the Holder shall pay the Aggregate Exercise Price in the sum of $________ to the Company in accordance with the terms of the Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Delivery of Warrant Shares</u>. The Company shall deliver to Holder, or its designee or agent as specified below, Warrant Shares in accordance with the terms of the Warrant. Delivery shall be made to Holder, or for its benefit, as follows:

![](ex10-9_001.jpg) Check here if requesting delivery as a certificate to the following name and to the following address:

Issue to: ________________________________________________________________________

**________________________________________________________________________**

![](ex10-9_001.jpg) Check here if requesting delivery by Deposit/Withdrawal at Custodian as follows:

DTC Participant: _______________________________________________________________

DTC Number: _________________________________________________________________

Account Number: ______________________________________________________________

Date: , ________, ____, _________

Name of Registered Holder

By: _________________________________

Name:

Title:

Tax ID: ____________

Facsimile: ____________

EXHIBIT B

**ACKNOWLEDGMENT**

The Company hereby acknowledges this Exercise Notice and hereby directs ____________to issue the above indicated number of shares of Common Stock in accordance with the Transfer Agent Instructions dated ________, 20 ____, from the Company and acknowledged and agreed to by __________.

---

| |
|:---|
| **RVeloCITY, Inc. dba RVnGO** |
| By: |
| Name: |
| Title: |

---

## Exhibit 10.10

**Exhibit 10.10**

**EXCHANGE AGREEMENT**

THIS EXCHANGE AGREEMENT (this "<u>Agreement</u>") is dated as of March 15, 2022 and made between RVeloCITY, Inc., an Arizona corporation (the "<u>Company</u>"), and the undersigned shareholder of the Company ("<u>Shareholder</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Upon the terms and conditions herein outlined, Shareholder hereby sells, assigns, transfers and conveys unto the Company, free and clear of all liens, pledges, charges, security interests, adverse claims or rights, and other encumbrances (other than restrictions on transfer under the federal securities laws and any applicable state securities laws), all legal and beneficial right, title and interest in and to the number of shares of the Company's Series B Common Stock owned of record by Shareholder and set forth on the signature page hereof (the "<u>Exchanged Series B Shares</u>"), and in consideration thereof and exchange therefor, the Company agrees that it shall issue to Shareholder the number of shares of the Company's Series A Common Stock ("<u>Issued Series A Shares</u>") equal to the number of Exchanged Series B Shares (collectively, the "<u>Exchange</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Upon the Company's acceptance of the Exchanged Series B Shares, as evidenced by the Company's execution of this Agreement, the Exchanged Series B Shares shall, without further action by the Company, be deemed cancelled and returned to the authorized but unissued capital stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Shareholder hereby covenants, represents and warrants to the Company as follows, and acknowledges that each such covenant, representation and warranty is material to and intended to be relied upon by the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Shareholder is the record and beneficial owner of the Exchanged Series B Shares, and owns the Exchanged Series B Shares free and clear of all liens, pledges, charges, security interests, adverse claims or rights, and other encumbrances (other than restrictions on transfer under the federal securities laws and any applicable state securities laws).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Shareholder has not paid, and shall not pay, any commissions or other remuneration, directly or indirectly, to any third party for the solicitation of the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Other than the Exchanged Series B Shares, Shareholder has not paid and will not pay any consideration to the Company for the Issued Series A Shares to be issued in the Exchange.

&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. Shareholder is familiar with the Company and its business, and has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Issued Series A Shares. Further, Shareholder is able to bear the risks of an investment in the Issued Series A Shares, understands the risks of, and other considerations relating to, the Exchange and the receipt of the Issued Series A Shares, acknowledges that the Issued Series A Shares are a speculative investment and are subject to dilution upon future financings and other events in the future, and represents that Shareholder can bear the economic risks of such an investment for an indefinite period of time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Shareholder is acquiring the Issued Series A Shares solely for Shareholder's own account for investment purposes and not with a view or interest of participating, directly or indirectly, in the resale or distribution of all or any part thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. Shareholder acknowledges that the Issued Series A Shares acquired by Shareholder pursuant hereto are to be issued and sold to the Shareholder without registration and in reliance upon certain exemptions under the Securities Act of 1933, as amended (the "<u>Act</u>"), and in reliance upon certain exemptions from registration requirements under applicable state securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Shareholder will make no transfer or assignment of any of the Issued Series A Shares except in compliance with the Act, and any other applicable securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. Shareholder is aware that no federal or state agency has made any recommendation or endorsement of the Issued Series A Shares or any finding or determination as to the fairness of the investment in the Issued Series A 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;i. Shareholder acknowledges that no public or secondary market exists or may ever exist for the Issued Series A Shares and, accordingly, Shareholder may not be able to readily liquidate Shareholder's investment in the Issued Series A 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;j. Neither the Company nor any person acting on its behalf has offered the Issued Series A Shares to Shareholder by means of general or public solicitation or general or public advertising, such as by newspaper or magazine advertisements, by broadcast media, or at any seminar or meeting whose attendees were solicited by such means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. Shareholder hereby acknowledges that the Company has made available to Shareholder the opportunity to ask questions and to receive answers, and to obtain information necessary to evaluate the merits and risks of this investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. Shareholder hereby acknowledges that Shareholder has been advised to seek independent professional advice in order to carefully analyze the risks and merits of an investment in the Issued Series A 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;m. Other than as set forth herein and in a Notice of Offer to Exchange Shares of Series B Common Stock (including Exhibits thereto) provided by the Company to Shareholder with this Agreement, Shareholder is not relying upon any other information, representation or warranty by the Company, its affiliates or any agent or representative of them, written or otherwise, in determining to invest in the Issued Series A Shares. Shareholder has consulted to the extent deemed appropriate by Shareholder with Shareholder's own advisers as to the financial, tax, legal and related matters concerning an investment in the Issued Series A Shares and on that basis believes that an investment in the Issued Series A Shares is suitable and appropriate for Shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. Shareholder hereby acknowledges and represents that no commission or other remuneration has been paid or given directly or indirectly in connection with the offer or sale of the Issued Series A Shares to Shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. Shareholder has full legal capacity, power and authority to execute and deliver, and to perform Shareholder's obligations under this Agreement and such execution, delivery and performance will not violate any agreement, contract, law, rule, decree or other legal restriction by which Shareholder is bound.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. Shareholder has had the opportunity to consult with its own tax and other advisors with respect to the consequences to Shareholder of the Exchange, receipt, or ownership of the Issued Series A Shares, including the tax consequences under federal, state, local and other income tax laws of the United States or any other country and the possible effects of changes in such tax laws. Shareholder acknowledges that none of Company, its subsidiaries, affiliates, successors, beneficiaries, heirs, and assigns and its and their past and present shareholders, partners, directors, officers, employees, and agents (including, without limitation, their attorneys) makes or has made any representations or warranties to Shareholder regarding the consequences to Shareholder of the Exchange, receipt, or ownership of the Issued Series A Shares, including the tax consequences under federal, state, local, and other tax laws of the United States or any other country and the possible effects of changes in such tax laws. Shareholder understands and acknowledges that it is solely responsible for obtaining its own tax advice (at Shareholder's cost) with respect to the matters covered by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. This Agreement may be executed in multiple counterparts, each one of which shall be deemed an original, but all of which shall be considered together as one and the same instrument. Further, in making proof of this Agreement, it shall not be necessary to produce or account for more than one (1) such counterpart. Execution by a party of a signature page hereto shall constitute due execution and shall create a valid, binding obligation of the party so signing, and it shall not be necessary or required that the signatures of all parties appear on a single signature page hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Delivery of the executed signature pages to this Agreement may be made by facsimile or other electronic transmission. Any such signature pages sent by facsimile or other electronic transmission shall be deemed to be originals for all purposes, and copies of this Agreement containing one or more signature pages that have been delivered by facsimile or other electronic transmission shall constitute enforceable original documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS, INCLUDING VALIDITY, INTERPRETATION AND EFFECT BY, AND SHALL BE ENFORCEABLE IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF ARIZONA WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Any action arising out of this Agreement shall be brought exclusively in a court of competent jurisdiction in Maricopa County, Arizona, and the parties hereby irrevocably waive any objections they may have to venue in Maricopa County, Arizona.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. The representations and warranties made by Shareholder in this Agreement shall survive the closing of the transactions contemplated hereby and any investigation made by the Company.

 

*[Signatures on following page]*

 

 

IN WITNESS WHEREOF, Shareholder has executed this Agreement as of the date set forth above.

Number of shares of Series B Common Stock tendered for Exchange: <u>______________________________</u>

_________________________________________

(Please Print Full Name of Shareholder)

By:   <br> Signature

__________________________________

(Please Type Name and Title of Signatory if Shareholder is an Entity)

***Note: Please sign this Agreement Signature Page and return it to the Company, who will return a copy of this page to you upon acceptance by the Company.***

 ****

**For Company Use Only**

**Do not write below this point**

The Exchange is hereby accepted in accordance with the terms set forth above.

---

| |
|:---|
| **RVeloCITY, Inc.** |
| By: |
| Name: |
| Title: |

---

## Exhibit 10.11

**Exhibit 10.11**

**THE SECURITIES TO BE ISSUED PURSUANT TO THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("<u>SECURITIES ACT</u>"), OR ANY OTHER APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD UNLESS REGISTERED THEREUNDER OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.**

**SUBSCRIPTION AGREEMENT**

RVeloCITY, Inc.<br> 2801 E. Camelback Road, Suite 200

Phoenix, Arizona 85016

Attn: Paul Kacir

Ladies and Gentlemen:

**<u>Subscription</u>**. The undersigned (sometimes referred to herein as the "<u>Investor</u>" or the "<u>Subscriber</u>" or "<u>I</u>") hereby subscribes for and agrees to purchase the principal amount of the Notes and Warrants (as defined below) of RVeloCITY, Inc., a Delaware corporation (the "<u>Company</u>"), for the purchase price (the "<u>Purchase Price</u>") set forth on the signature page hereto pursuant to this agreement, the Note (as defined below) and the Warrant (as defined below) and the other Exhibits included with the Investor Package (collectively, the "<u>Offering Documents</u>"). Terms not defined herein are as defined in the Offering Documents. The Company is seeking to raise, through a private placement offering (the "<u>Offering</u>") of the Notes and Warrants pursuant to Rule 506(b) promulgated under the Securities Act of 1933, as amended, $2,000,000 (the "<u>Maximum Offering Amount</u>") in this Offering. Boustead and the Company, in their sole discretion, may accept subscriptions in excess of the Maximum Offering Amount. The minimum amount of investment required from any one subscriber to participate in this Offering is $250,000, however, the Company reserves the right, in its sole discretion, to accept subscriptions less than this amount. All references to $ or "dollar(s)" means United States dollars. The undersigned acknowledges that the Company has engaged Boustead Securities, LLC ("<u>Boustead</u>" or "<u>Placement Agent</u>") as its exclusive placement agent in connection with this offering.

**1. <u>Description of Securities; Description of Company and Risk Factors</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Description of Securities</u>. The Company is offering to the Investor in the minimum subscription amount
 of $250,000, however, the Company reserves the right, in its sole discretion, to accept subscriptions
 less than this amount, units (the " <u>Units</u> ") consisting of the Company's
 (i) 10% unsecured promissory notes (the " <u>Notes</u> " or a " <u>Note</u> "),
 which Notes shall be due upon the earlier of June 30, 2023 or completion of the Company's
 IPO, and (ii) warrants to purchase a number of shares of Class A Common Stock that is equal
 to the initial principal amount of the Note acquired by the Investor divided by $2.50, with
 an exercise price of $2.50 per share (the " <u>Warrants</u> "). The Notes and Warrants
 shall be substantially in the form attached hereto as Exhibit A and Exhibit B, respectively.

This Offering is being conducted in advance of the Company's intended initial public offering ("<u>IPO</u>") of our Class A common stock, par value $0.0001 per share (the "Class A <u>Common Stock</u>"), and listing our Class A Common Stock for trading on the Nasdaq Capital Market or other national securities exchange.

Under our engagement letter with Boustead, dated as of September 13, 2021 (the "<u>Engagement Letter</u>"), Boustead has been engaged as the Company's exclusive financial advisor for the 18-month term of the Engagement Letter or 12 months from the IPO. In addition, Boustead has expressed its intent to enter into an Underwriting Agreement with the Company to act as the lead underwriter for the proposed IPO on a "firm commitment" basis. There can be no assurance that we and Boustead will be able to agree on the terms of such Underwriting Agreement or that our proposed IPO will be successfully consummated.

The Notes, Warrants and shares issuable upon exercise of the Warrants (the "<u>Warrant Shares</u>") are sometimes referred to herein as the "<u>Securities</u>."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Risks Related to the Investment in the Securities</u>. Investing in the Securities involves a high
 degree of risk. The Company has prepared and presented to the Investor, and the Investor
 has had the opportunity to review, a detailed set of risk factors concerning the Company,
 included with the Offering Documents as <u>Exhibit E</u>, as well as the description of the
 business set forth in <u>Exhibit D</u>, and the investor presentation in <u>Exhibit F</u>,
 together with the other information contained in Offering Documents.

**2. <u>Purchase</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 hereby agree to tender to Sutter Securities, Inc. (the " <u>Escrow Agent</u> "),
 by check or wire transfer of immediately available funds (to a bank account and related wire
 instructions to be provided to me on my request) made payable to "Sutter Securities,
 Inc., as Escrow Agent for RVeloCITY, Inc." for the principal amount of the Note indicated
 on the signature page hereto, an executed copy of this Subscription Agreement and an executed
 copy of my Investor Questionnaire attached immediately following the signature pages hereto.
 Funds will be held in escrow, as set forth in more detail below (the " <u>Escrow Account</u> "),
 pending the Initial Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The
 Offering is for a maximum offering of the Maximum Offering Amount. All subscriptions to purchase
 Notes will be held in a noninterest-bearing escrow account (the "Escrow Account")
 maintained by the Escrow Agent. The subscriptions will remain in the Escrow Account until
 the Company has accepted such subscriptions and the Company, in its sole discretion, may
 accept subscriptions in excess of the Maximum Offering Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. This
 Offering will continue until the earlier of (a) the sale Notes for the Maximum Offering Amount,
 or (b) May 31, 2022, or such extension date agreed to, in their sole discretion, by the Company
 and Boustead (the " <u>Termination Date</u> "). Upon the earlier of a "Closing"
 (defined below) on my subscription or completion of the Offering, I will be notified promptly
 by the Company as to whether my subscription has been accepted by the Company.

**3. <u>Acceptance or Rejection of Subscription</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 understand and agree that the Company reserves the right to reject this subscription for
 the Securities, in whole or in part, for any reason and at any time prior to the "Closing"
 (defined below) of my subscription.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. In
 the event the Company rejects this subscription, my subscription payment will be promptly
 returned to me without interest or deduction and this Subscription Agreement shall be of
 no force or effect. In the event my subscription is accepted and the Offering is completed,
 the subscription funds submitted by me shall be released to the Company.

**4. <u>Closing</u>**. The closing ("<u>Closing</u>") of this Offering may occur at any time and from time to time on or before the Termination Date. The Company may conduct an initial Closing (the "<u>Initial Closing</u>") at any time after the acceptance of an investor's subscription and the Initial Closing will be held and all funds will be released from the Escrow Account and paid to the Company, less professional fees and compensation paid to the Placement Agent and syndicate members, if any. Thereafter, additional Closings will be held as funds are received up to the earlier to occur of receipt of the Maximum Offering Amount or the Termination Date. Boustead and the Company, in their sole discretion, may accept subscriptions in excess of the Maximum Offering Amount. All subscriptions will be placed in escrow with the Escrow Agent. If, for any reason, at the Company's sole discretion, an investor's subscription is rejected, the investor's escrowed funds will be returned to such investor, without interest or deduction. The Securities subscribed for herein shall not be deemed issued to or owned by the Investor until one copy of this Subscription Agreement has been executed by the Investor and countersigned by the Company and the Closing with respect to such Securities has occurred.

**5. <u>Disclosure</u>**. Because this offering is limited to accredited investors as defined in Section 2(15) of the Securities Act, and Rule 501 promulgated thereunder, in reliance upon the exemption contained in Rule 506(b) promulgated under the Securities Act and applicable state securities laws, the Securities are being sold without registration under the Securities Act. I acknowledge receipt of the Offering Documents and represent that I have carefully reviewed and understand the Offering Documents, including all exhibits attached hereto. I have received all information and materials regarding the Company that I have requested. I fully understand that the Company has a limited financial and operating history and that the Securities are speculative investments which involve a high degree of risk, including the potential loss of my entire investment. I fully understand the nature of the risks involved in purchasing the Securities and I am qualified to make such investment based on my knowledge of and experience in investing in securities of this type. I have carefully considered the potential risks relating to the Company and purchase of its Securities and have, in particular, reviewed each of the risks set forth in the Offering Documents. Both my advisors and I have had the opportunity to ask questions of and receive answers from representatives of the Company or persons acting on its behalf concerning the Company and the terms and conditions of a proposed investment in the Company and my advisors and I have also had the opportunity to obtain additional information necessary to verify the accuracy of information furnished about the Company. Accordingly, I have independently evaluated the risks of purchasing the Securities.

**6. <u>Investor Representations and Warranties</u>**. I acknowledge, represent and warrant to, and agree with, the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 am aware that my investment involves a high degree of risk as disclosed in the Offering Documents
 and have read carefully the Offering Documents, and I understand that by signing this Subscription
 Agreement I am agreeing to be bound by all of the terms and conditions of the Offering Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. I
 acknowledge and am aware that there is no assurance as to the future performance of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. I
 acknowledge that there may be certain adverse tax consequences to me in connection with my
 purchase of Securities, and the Company has advised me to seek the advice of experts in such
 areas prior to making this investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. I
 am purchasing the Securities for my own account for investment purposes only and not with
 a view to or for sale in connection with the distribution of the Securities, nor with any
 present intention of selling or otherwise disposing of all or any part of the foregoing securities.
 I agree that I must bear the entire economic risk of my investment for an indefinite period
 of time because, among other reasons, the Securities have not been registered under the Securities
 Act or under the securities laws of any state and, therefore, cannot be resold, pledged,
 assigned or otherwise disposed of unless they are subsequently registered under the Securities
 Act and under applicable securities laws of certain states or an exemption from such registration
 is available. I hereby authorize the Company to place a restrictive legend on the Securities
 that are issued to me.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. I
 recognize that the Securities, as an investment, involve a high degree of risk including,
 but not limited to, the risk of economic losses from operations of the Company and the total
 loss of my investment. I believe that the investment in the Securities is suitable for me
 based upon my investment objectives and financial needs, and I have adequate means for providing
 for my current financial needs and contingencies and have no need for liquidity with respect
 to my investment in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. I
 have been given access to full and complete information regarding the Company and have utilized
 such access to my satisfaction for the purpose of obtaining information in addition to, or
 verifying information included in, the Offering Documents, and I have either met with or
 been given reasonable opportunity to meet with officers of the Company for the purpose of
 asking questions of, and receiving answers from, such officers concerning the terms and conditions
 of the offering of the Securities and the business and operations of the Company and to obtain
 any additional information, to the extent reasonably available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. I
 have such knowledge and experience in financial and business matters as to be capable of
 evaluating the merits and risks of an investment in the Securities and have obtained, in
 my judgment, sufficient information from the Company to evaluate the merits and risks of
 an investment in the Company. I have not utilized any person as my purchaser representative
 as defined in Regulation D under the Securities Act in connection with evaluating such merits
 and risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. I
 have relied solely upon my own investigation in making a decision to invest in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. I
 have received no representation or warranty from the Company or any of its officers, directors,
 employees or agents in respect of my investment in the Company and I have received no information
 (written or otherwise) from them relating to the Company or its business other than as set
 forth in the Offering Documents. I am not participating in the offer as a result of or subsequent
 to: (i) any advertisement, article, notice or other communication published in any newspaper,
 magazine or similar media or broadcast over television or radio or (ii) any seminar or meeting
 whose attendees have been invited by any general solicitation or general advertising.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. I
 have had full opportunity to ask questions and to receive satisfactory answers concerning
 the offering and other matters pertaining to my investment and all such questions have been
 answered to my full satisfaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. I
 have been provided an opportunity to obtain any additional information concerning the offering
 and the Company and all other information to the extent the Company possesses such information
 or can acquire it without unreasonable effort or expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. I
 am an "accredited investor" as defined in Section 2(15) of the Securities Act
 and in Rule 501 promulgated thereunder and have attached the completed Accredited Investor
 Questionnaire to indicate my "accredited investor" status. I can bear the entire
 economic risk of the investment in the Securities for an indefinite period of time and I
 am knowledgeable about and experienced in making investments in the equity securities of
 non-publicly traded companies, including early stage companies. I am not acting as an underwriter
 or a conduit for sale to the public or to others of unregistered securities, directly or
 indirectly, on behalf of the Company or any person with respect to such securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. I
 understand that (1) the Securities have not been registered under the Securities Act, or
 the securities laws of certain states, in reliance on specific exemptions from registration,
 (2) no securities administrator of any state or the federal government has recommended or
 endorsed this offering or made any finding or determination relating to the fairness of an
 investment in the Company, and (3) the Company is relying on my representations and agreements
 for the purpose of determining whether this transaction meets the requirements of certain
 exemptions from registration afforded by the Securities Act and certain state securities
 laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. I
 understand that since neither the offer nor sale of the Securities has been registered under
 the Securities Act or the securities laws of any state, the Securities may not be sold, assigned,
 pledged or otherwise disposed of unless they are so registered or an exemption from such
 registration is available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. I
 have had the opportunity to seek independent advice from my professional advisors relating
 to the suitability of an investment in the Company in view of my overall financial needs
 and with respect to the legal and tax implications of such investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. If
 the Investor is a corporation, company, trust, employee benefit plan, individual retirement
 account, Keogh Plan, or other tax-exempt entity, it is authorized and qualified to become
 an Investor in the Company and the person signing this Subscription Agreement on behalf of
 such entity has been duly authorized by such entity to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;q. The
 information contained in my Investor Questionnaire, as well as any information which I have
 furnished to the Company with respect to my financial position and business experience, is
 correct and complete as of the date of this Subscription Agreement and, if there should be
 any material change in such information prior to the Closing of the offering, I will furnish
 such revised or corrected information to the Company. I hereby acknowledge and am aware that
 except for any rescission rights that may be provided under applicable laws, I am not entitled
 to cancel, terminate or revoke this subscription and any agreements made in connection herewith
 shall survive my death or disability.

**7. Placement Agent.** The Company has engaged Boustead, a broker-dealer licensed with FINRA, as placement agent for the Offering on a reasonable best-efforts basis. The Company anticipates that the Placement Agent and its sub-agents or syndicate members will be paid at each Closing from the proceeds in the Escrow Account, fees including and not to exceed: a cash commission of seven percent (7%) of the gross Purchase Price paid by Subscribers in the Offering; a non-accountable expense allowance for certain investors of one percent (1%) of the gross purchase price paid by Subscribers in the Offering; and will receive warrants to purchase a number of shares of Class A Common Stock equal to seven percent (7%) of the Class A Common Stock underlying the Warrants sold in the Offering to investors, with a term of five (5) years from the relevant Closing Date, and at a per share exercise price equal to $2.50 (the "<u>Placement Agent Warrants</u>"). Any sub-agent or syndicate member of the Placement Agent that introduces investors to the Offering will be entitled to share in the cash fees and Placement Agent Warrants attributable to those investors as described above, pursuant to the terms of an executed sub-agent or selected dealer agreement. The Company will also pay certain expenses of the Placement Agent.

**8. Representations and Warranties of the Company**. When used in this Section 8, unless the context indicates otherwise, all references to the "Company" also mean and include the direct and indirect subsidiaries of the Company. The Company hereby represents and warrants to the Subscriber, as of the date hereof and on each Closing Date, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Organization and Qualification</u>. The Company and each of its subsidiaries, if any, is a corporation
 or other business entity duly organized, validly existing and in good standing under the
 laws of the jurisdiction of its formation and has the requisite corporate power to own its
 properties and to carry on its business as now being conducted. The Company and each of its
 subsidiaries is duly qualified as a foreign corporation to do business and is in good standing
 in every jurisdiction in which the nature of the business conducted by it makes such qualification
 necessary, except to the extent that the failure to be so qualified or be in good standing
 would not have a material adverse effect on the assets, business, financial condition, results
 of operations or future prospects of the Company and its subsidiaries taken as a whole (a
 " <u>Material Adverse Effect</u> ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Authorization, Enforcement, Compliance with Other Instruments</u>. (i) The Company has the requisite corporate
 power and authority to enter into and perform its obligations under this Agreement, and each
 of the Offering Documents and to issue the Securities in accordance with the terms hereof,
 (ii) the execution and delivery by the Company of each of the Offering Documents and the
 consummation by it of the transactions contemplated hereby and thereby, including, without
 limitation, the issuance of the Securities have been, or will be at the time of execution
 of such Offering Document, duly authorized by the Company's Board of Directors, and
 no further consent or authorization is, or will be at the time of execution of such Offering
 Document, required by the Company, its respective Board of Directors or its stockholders,
 (iii) each of the Offering Documents will be duly executed and delivered by the Company,
 (iv) the Offering Documents when executed and delivered by the Company and each other party
 thereto will constitute the valid and binding obligations of the Company enforceable against
 the Company in accordance with their terms, except as such enforceability may be limited
 by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
 liquidation or similar laws relating to, or affecting generally, the enforcement of creditors'
 rights and remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Capitalization</u>.
 Pursuant to its Certificate of Incorporation, the authorized capital stock of the Company
 consists of 170,000,000 shares of Common Stock, each with a par value of $0.0001 per share,
 consisting of (a) 150,000,000 shares of Class A Common Stock (the " <u>Class A Common Stock</u> "), and (b) 20,000,000 shares of Class B Common Stock (the <u>Class B Common Stock</u> " and collectively with the Class A Common Stock, the " <u>Common Stock</u> ").
 Immediately prior to the Initial Closing, the Company will have no more than 48,769 806 combined
 shares of Class A and Class B Common Stock outstanding, including for this purpose 1,549,376
 shares of Class A Common Stock reserved for issuance under the Company's equity incentive
 plan. All of the outstanding shares of Common Stock of the Company and all of the share capital
 of each of the Company's subsidiaries have been or will be, as of the Initial Closing,
 duly authorized, validly issued and are fully paid and nonassessable.<sup>1</sup>There
 are no securities or instruments of the Company or any of its subsidiaries containing anti-dilution
 or similar provisions, including the right to adjust the exercise, exchange or reset price
 under such securities, that will be triggered by the issuance of the Securities as described
 in this Agreement. Upon request, the Company will make available to the Subscriber true and
 correct copies of the Company's Certificate of Incorporation, as amended and as in
 effect on the date hereof (the " <u>Certificate of Incorporation</u> "), and the
 Company's By-laws, as amended as in effect on the date hereof (the " <u>By-laws</u> "),
 and the terms of all securities exercisable for Common Stock and the material rights of the
 holders thereof in respect thereto other than stock options issued to officers, directors,
 employees and consultants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Subsidiaries and Affiliates</u>. The Company's wholly-owned subsidiary is Peerage Holdings, Inc.,
 an Arizona corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Issuance of Securities</u>. The Securities are duly authorized and, upon issuance in accordance with
 the terms hereof, shall be duly issued, fully paid and nonassessable, and will be free and
 clear of all taxes, liens and charges with respect to the issue thereof.

<sup>1</sup> NOTE: Understand there are still preemptive rights outstanding, and they have not been waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>No Conflicts</u>. The execution, delivery and performance of each of the Offering Documents
 by the Company, and the consummation by the Company of the transactions contemplated hereby
 and thereby will not (i) result in a violation of the Certificate of Incorporation or the
 By-laws (or equivalent constitutive document) of the Company or any of its subsidiaries or
 (ii) violate or conflict with, or result in a breach of any provision of, or constitute a
 default (or an event which with notice or lapse of time or both would become a default) under,
 or give to others any rights of termination, amendment, acceleration or cancellation of,
 any agreement, indenture or instrument to which the Company or any subsidiary is a party,
 except for those which would not reasonably be expected to have a Material Adverse Effect,
 or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including
 U.S. federal and state securities laws and regulations) applicable to the Company or any
 subsidiary or by which any property or asset of the Company or any subsidiary is bound or
 affected except for those which could not reasonably be expected to have a Material Adverse
 Effect. Except those which could not reasonably be expected to have a Material Adverse Effect,
 neither the Company nor any subsidiary is in violation of any term of or in default under
 its constating documents. Except those which could not reasonably be expected to have a Material
 Adverse Effect, neither the Company nor any subsidiary is in violation of any term of or
 in default under any material contract, agreement, mortgage, indebtedness, indenture, instrument,
 judgment, decree or order or any statute, rule or regulation applicable to the Company or
 any subsidiary. The business of the Company and its subsidiaries is not being conducted,
 and shall not be conducted in violation of any law, ordinance, or regulation of any governmental
 entity, except for any violation which could not reasonably be expected, individually or
 in the aggregate, to have a Material Adverse Effect. Except as specifically contemplated
 by this Agreement and as required under the Securities Act and any applicable state securities
 laws, neither the Company nor any of its subsidiaries is required to obtain any consent,
 authorization or order of, or make any filing or registration with, any court or governmental
 agency in order for it to execute, deliver or perform any of its obligations under or contemplated
 by this Agreement or the other Offering Documents in accordance with the terms hereof or
 thereof. Neither the execution and delivery by the Company of the Offering Documents, nor
 the consummation by the Company of the transactions contemplated hereby or thereby, will
 require any notice, consent or waiver under any contract or instrument to which the Company
 or any subsidiary is a party or by which the Company or any subsidiary is bound or to which
 any of their assets is subject, except for any notice, consent or waiver the absence of which
 would not reasonably be expected, individually or in the aggregate, to have a Material Adverse
 Effect and would not adversely affect the consummation of the transactions contemplated hereby
 or thereby. All consents, authorizations, orders, filings and registrations which the Company
 or any of its subsidiaries is required to obtain pursuant to the preceding two sentences
 have been or will be obtained or effected on or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. <u>Absence of Litigation</u>. There is no action, suit, claim, inquiry, notice of violation, proceeding
 (including any partial proceeding such as a deposition) or investigation before or by any
 court, public board, governmental or administrative agency, self-regulatory organization,
 arbitrator, regulatory authority, stock market, stock exchange or trading facility (an " <u>Action</u> ")
 now pending or, to the knowledge of the Company, threatened, against or affecting the Company
 or any of its subsidiaries, wherein an unfavorable decision, ruling or finding would (i)
 adversely affect the validity or enforceability of, or the authority or ability of the Company
 to perform its obligations under this Agreement or any of the other Offering Documents, or
 (ii) have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. <u>Acknowledgment Regarding Subscriber's Purchase of the Securities</u>. The Company acknowledges and
 agrees that each Subscriber is acting solely in the capacity of an arm's length purchaser
 with respect to the Offering Documents and the transactions contemplated hereby and thereby.
 The Company further acknowledges that each Subscriber is not acting as a financial advisor
 or fiduciary of the Company (or in any similar capacity) with respect to the Offering Documents
 and the transactions contemplated hereby and thereby and any advice given by such Subscriber
 or any of their respective representatives or agents in connection with the Offering Documents
 and the transactions contemplated hereby and thereby is merely incidental to such Subscriber's
 purchase of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>No General Solicitation</u>. Neither the Company, nor any of its "affiliates" (as
 defined in Rule 144 under the Securities Act), nor, to the knowledge of the Company, any
 person acting on its or their behalf, has engaged in any form of general solicitation or
 general advertising (within the meaning of Regulation D) in connection with the offer or
 sale of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. <u>No Integrated Offering</u>. Neither the Company, nor any of its affiliates, nor to the knowledge
 of the Company, any person acting on its or their behalf has, directly or indirectly, made
 any offers or sales of any security or solicited any offers to buy any security, under circumstances
 that would require registration of the Securities under the Securities Act or cause this
 offering of the Securities to be integrated with prior offerings by the Company for purposes
 of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. <u>Employee Relations</u>. Neither the Company nor any subsidiary is involved in any labor dispute nor,
 to the knowledge of the Company, is any such dispute threatened. Neither the Company nor
 any subsidiary is party to any collective bargaining agreement. The Company's and/or
 its subsidiaries' employees are not members of any union, and the Company believes
 that its and its subsidiaries' relationship with their respective employees is good.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. <u>Permits</u>.
 The Company and its subsidiaries have all authorizations, approvals, clearances, licenses,
 permits, certificates or exemptions (including manufacturing approvals and authorizations,
 pricing and reimbursement approvals, labeling approvals, registration notifications or their
 foreign equivalent) issued by any regulatory authority or governmental agency (collectively,
 " <u>Permits</u> ") required to conduct their respective businesses as currently
 conducted except to the extent that the failure to have such Permits would not have a Material
 Adverse Effect. The Company or its subsidiaries have fulfilled and performed in all material
 respects their obligations under each Permit, and, as of the date hereof, to the knowledge
 of the Company, no event has occurred or condition or state of facts exists which would constitute
 a breach or default or would cause revocation or termination of any such Permit except to
 the extent that such breach, default, revocation or termination would not have a Material
 Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. <u>Title</u>.
 Each of the Company and its subsidiaries has good and marketable title to all of its real
 and personal property and assets, free and clear of any material restriction, mortgage, deed
 of trust, pledge, lien, security interest or other charge, claim or encumbrance which would
 have a Material Adverse Effect. With respect to properties and assets it leases, each of
 the Company and its subsidiaries is in material compliance with such leases and holds a valid
 leasehold interest free of any liens, claims or encumbrances which would have a Material
 Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. <u>Intentionally omitted.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. <u>Reliance</u>.
 The Company acknowledges that the Subscriber is relying on the representations and warranties
 made by the Company hereunder and that such representations and warranties are a material
 inducement to the Subscriber purchasing the Securities. The Company further acknowledges
 that without such representations and warranties of the Company made hereunder, the Subscribers
 would not enter into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. <u>Brokers' Fees</u>. Aside from the fees owed to the Placement Agent, as set forth above, the Company
 does not have any liability or obligation to pay any fees or commissions to any broker, finder
 or agent with respect to the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;q. <u>Off-Balance Sheet Arrangements</u>. There is no transaction, arrangement, or other relationship between
 the Company or any subsidiary and an unconsolidated or other off-balance sheet entity that
 is required to be disclosed by the Company in the Financial Statements and is not so disclosed
 or that otherwise would have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;r. <u>Investment Company</u>. The Company is not required to be registered as, and is not an affiliate of,
 and immediately following the Closing will not be required to register as, an "investment
 company" within the meaning of the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;s. <u>Reliance</u>.
 The Company acknowledges that the Purchaser is relying on the representations and warranties
 made by the Company hereunder and that such representations and warranties are a material
 inducement to the Purchaser purchasing the Notes. The Company further acknowledges that without
 such representations and warranties of the Company made hereunder, the Purchaser would not
 enter into this Agreement.

**9. <u>Protective Provision</u>.** So long as the Unit remains outstanding, at any time prior to the date that the Company's Class A Common Stock is listed for trading on the Nasdaq Capital Market or another national securities exchange, the Company shall not, either directly or indirectly by amendment, merger, consolidation, recapitalization, reclassification, or otherwise, create, or authorize the creation of, or issue or obligate itself to issue shares of, its Preferred Stock $0.0001 par value per share, or any indebtedness that is senior to the Notes, without the prior written consent of the Investor.

**10. <u>Indemnification</u>**. I hereby agree to indemnify and hold harmless the Company and its officers, directors, shareholders, employees, agents, advisors and counsel, and Boustead Securities, LLC and its officers, directors, shareholders, employees, agents, advisors and counsel, against any and all losses, claims, demands, liabilities and expenses (including reasonable legal or other expenses, including reasonable attorneys' fees) incurred by each such person in connection with defending or investigating any such claims or liabilities, whether or not resulting in any liability to such person, to which any such indemnified party may become subject under the Securities Act, under any other statute, at common law or otherwise, insofar as such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact made by me and contained in this Subscription Agreement or my Investor Questionnaire, or (b) arise out of or are based upon any breach by me of any representation, warranty, or agreement made by me contained herein or therein.

**11. <u>Severability</u>**. In the event any parts of this Subscription Agreement are found to be void, the remaining provisions of this Subscription Agreement shall nevertheless be binding with the same force and effect as though the void parts were deleted.

**12. <u>Choice of Law and Jurisdiction</u>**. This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to conflicts of laws principles thereof. Any action brought by either party against the other concerning the transactions contemplated by this Subscription Agreement shall be brought only in the state courts of Delaware that are located in Wilmington or in the federal courts located in Wilmington, in the State of Delaware. Both parties and the individuals signing this Subscription Agreement agree to submit to the jurisdiction of such courts.

**13. <u>Counterparts</u>**. This Subscription Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. The execution of this Subscription Agreement may be by actual or facsimile signature.

**14. <u>Benefit</u>**. This Subscription Agreement shall be binding upon and inure to the benefit of the parties hereto.

**15. <u>Notices and Addresses</u>**. All notices, offers, acceptance and any other acts under this Subscription Agreement (except payment) shall be in writing, and shall be sufficiently given if delivered to the addresses in person, by Federal Express or similar courier delivery or by electronic facsimile delivered to the party's email address, as follows:

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| | |
|:---|:---|
| Investor: | At the address designated on the signature page of this Subscription Agreement.<br>Or the email address on the signature page of the Subscription Agreement |
| The Company: | RVeloCITY, Inc.<br> 2801 E. Camelback Road, Suite 200<br> Phoenix, Arizona 85016<br> With a copy to paul.kacir@rvngo.com |

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or to such other address as any of them, by notice to the others may designate from time to time. The transmission confirmation receipt from the sender's facsimile machine shall be conclusive evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery in person or by mailing.

**16. <u>Entire Agreement</u>**. This Subscription Agreement, together with the Offering Documents, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior oral and written agreements between the parties hereto with respect to the subject matter hereof. This Subscription Agreement may not be changed, waived, discharged, or terminated orally but, rather, only by a statement in writing signed by the party or parties against which enforcement or the change, waiver, discharge or termination is sought.

**17. <u>Section Headings</u>**. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part, any of the terms or provisions of this Subscription Agreement.

**18. <u>Survival of Representations, Warranties and Agreements</u>**. The representations, warranties and agreements of Investor contained herein shall survive the delivery of, and the payment for, the Securities.

**19. <u>Acceptance of Subscription</u>**. The Company may accept this Subscription Agreement at any time for all or any portion of the Securities subscribed for by executing a copy hereof as provided and notifying me within a reasonable time thereafter.

<u>RESIDENTS OF ALL STATES</u>: THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY WILL BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE OFFERING DOCUMENTS. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

<u>SALES IN FLORIDA</u>: THE SECURITIES OFFERED HEREBY WILL BE SOLD, AND ACQUIRED, IN A TRANSACTION EXEMPT UNDER SECTION 517.061(11) OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER SAID ACT IN THE STATE OF FLORIDA. PURSUANT TO SECTION 517.061(11) OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT, WHEN SALES ARE MADE TO FIVE (5) OR MORE PERSONS IN THE STATE OF FLORIDA, ANY SALE IN THE STATE OF FLORIDA MADE PURSUANT TO SECTION 517.061(11) OF SUCH ACT IS VOIDABLE BY THE PURCHASER IN SUCH SALE (WITHOUT INCURRING ANY LIABILITY TO THE COMPANY OR TO ANY OTHER PERSON OR ENTITY) EITHER WITHIN THREE (3) DAYS AFTER THE FIRST TENDER OF CONSIDERATION IS MADE BY SUCH PURCHASER TO THE ISSUER, AN AGENT OF THE ISSUER, OR AN ESCROW AGENT OR WITHIN THREE (3) DAYS AFTER THE AVAILABILITY OF THAT PRIVILEGE IS COMMUNICATED TO SUCH PURCHASER, WHICHEVER OCCURS LATER. TO VOID HIS OR HER PURCHASE, THE PURCHASER NEED ONLY SEND A LETTER OR TELEGRAM TO THE COMPANY AT THE ADDRESS INDICATED HEREIN. ANY SUCH LETTER OR TELEGRAM SHOULD BE SENT AND POSTMARKED PRIOR TO THE END OF THE AFOREMENTIONED THREE (3) DAY PERIOD. IT IS PRUDENT TO SEND ANY SUCH LETTER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO ASSURE THAT IT IS RECEIVED AND ALSO TO HAVE EVIDENCE OF THE TIME THAT IT WAS MAILED. SHOULD A PURCHASER MAKE THIS REQUEST ORALLY, THAT PURCHASER MUST ASK FOR WRITTEN CONFIRMATION THAT THE REQUEST HAS BEEN RECEIVED. IF NOTICE IS NOT RECEIVED WITHIN THE TIME LIMIT SPECIFIED HEREIN, THE FOREGOING RIGHT TO VOID THE PURCHASE SHALL BE NULL AND VOID.

(Remainder of Page left intentionally blank.)

**THE AGGREGATE AMOUNT SUBSCRIBED FOR HEREBY IS:**

**$__________ principal Notes**

Manner in Which Title is to be Held. (check one)

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| | |
|:---|:---|
| — Individual Ownership | — Community Property |
| — Joint Tenant with Right of Survivorship (both parties must sign) | — Joint Tenant with Right of Survivorship (both parties must sign) |
| — Partnership | — Tenants in common |
| — Corporation or Trust | — IRA or Keogh |
| — Other (please indicate) | — Other (please indicate) |

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| | |
|:---|:---|
| INDIVIDUAL INVESTORS | ENTITY INVESTORS |
|  | Name of entity, if any |
| Signature (Individual) | By: |
|  | \*Signature |
|  | Its: |
| Signature (Joint) | Title: |
| (all record holders must sign) |  |
| Name(s) Typed or Printed | Name Typed or Printed |
| Address to Which Correspondence Should be Directed | Address to Which Correspondence Should be Directed |
| City, State and Zip Code | City, State and Zip Code |
| Email address for notices | Email address for notices |
| Name(s) Typed or Tax Identification or <br> Social Security Number | Name(s) Typed or Tax Identification or <br> Social Security Number |

---

\* *If Securities are being subscribed for by any entity, the Certificate of Signatory on the below page must also be completed*

The foregoing subscription is accepted and the Company hereby agrees to be bound by its terms on _____ day of _________________, 2022.

---

| | | |
|:---|:---|:---|
|  | **RVeloCITY, Inc.** | **RVeloCITY, Inc.** |
| Dated: | By: |  |
|  | Name: | Paul Kacir |
|  | Its: | Chief Executive Officer |

---

**CERTIFICATE OF SIGNATORY**

(To be completed if Securities are being subscribed for by an entity)

I, _____________________________, the _____________________________________<br>  ***(name of signatory****) **(title)***

 ****

Of ______________________________________________("Entity"), a _____________________________<br>  ***(name of entity) (type of entity)***

 ****

Organized under the laws of _______________, hereby certify that I am empowered and duly authorized by the Entity to execute the Subscription Agreement and to purchase the Securities and certify further that the Subscription Agreement has been duly and validly executed on behalf of the Entity and constitutes a legal and binding obligation of the Entity.

IN WITNESS WHEREOF, I have set my hand this ______ day of ___________, 2022.

***(Signature)***

 ****

## Exhibit 10.12

**Exhibit 10.12**

**<u>Form of Note</u>**

**THIS NOTE HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THIS NOTE HAS BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.**

**RVeloCITY INC.**

**10% PROMISSORY NOTE**

---

| | |
|:---|:---|
| **Issuance Date: ____________ __, 2022** | **Original Principal Amount: $_____________** |
| **Note No. __** |  |

---

FOR VALUE RECEIVED, **RVeloCITY, Inc.**, a Delaware corporation ("RVeloCITY" or "RVnGO" the "<u>Maker</u>"), hereby promises to pay to the order of _________________________ (the "<u>Subscriber</u>"), or its registered assigns (together with the Subscriber, the "<u>Holder</u>"), the amount set out above as the Original Principal Amount, as reduced pursuant to the terms hereof pursuant to redemption, or otherwise (the "<u>Principal</u>"), when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest ("<u>Interest</u>") on any outstanding Principal at the applicable Interest Rate from the date set out above as the Issuance Date (the "<u>Issuance Date</u>") until the same becomes due and payable, upon the Maturity Date or acceleration, redemption or otherwise (in each case in accordance with the terms hereof).

The Original Principal Amount is _________________________ Dollars ($__________). For purposes hereof, the term "<u>Outstanding Balance</u>" means the Original Principal Amount, as reduced or increased, as the case may be, pursuant to the terms hereof for breach hereof or otherwise, plus any accrued but unpaid interest, collection and enforcements costs, and any other fees or charges incurred under this Note.

This Note is being issued pursuant to the terms of a subscription agreement dated as of ______________ __, 2022 between the Maker and the Subscriber and exhibits thereto (collectively, the "<u>Transaction Documents</u>"). Unless otherwise defined herein, all capitalized terms, when used in this Note, shall have the same meaning as they are defined in the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. GENERAL TERMS

&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>Payment of Principal</u>. The Outstanding Balance of this Note, including all accrued interest hereon at the Interest Rate, shall be due and payable on the earlier of the Company's completion of its IPO (as defined below) or June 30, 2023 (the "<u>Maturity Date</u>"). "IPO" means an initial public offering of Maker's Class A Common Stock and the listing or trading of its Class A Common Stock on a national securities exchange.

&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>Interest</u>. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten percent (10%) (the "<u>Interest Rate</u>") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. EVENTS OF DEFAULT.

Whenever used herein, an "<u>Event of Default</u>" means the occurrence and continuation of any one of the following events, whatever the reason, and whether it shall be voluntary or involuntary, or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental body:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Maker's failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note; 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;(b) A material breach by RVeloCITY of any material representation, warranty or covenant contained in the Transaction Documents or a material breach by RVeloCITY of any material representation, warranty or covenant contained in the Transaction Documents, that, if capable of cure, is not cured within 30 days from the date such breach has occurred; 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;(c) The Maker or any subsidiary of the Maker shall commence, or there shall be commenced against the Maker or any subsidiary of the Maker under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the Maker or any subsidiary of the Maker commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the Maker or any subsidiary of the Maker or there is commenced against the Maker or any subsidiary of the Maker any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of ninety-one (91) days; or the Maker or any subsidiary of the Maker is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or the Maker or any subsidiary of the Maker suffers any appointment of any custodian, private or court appointed receiver or the like for it or any substantial part of its property which continues undischarged or unstayed for a period of ninety-one (91) days; or the Maker or any subsidiary of the Maker makes a general assignment for the benefit of creditors; or the Maker or any subsidiary of the Maker shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or the Maker or any subsidiary of the Maker shall call a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts; or the Maker or any subsidiary of the Maker shall by any act or failure to act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is taken by the Maker or any subsidiary of the Maker for the purpose of effecting any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. PREPAYMENT. This Note may be prepaid by RVeloCITY without penalty or premium of any kind.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. REISSUANCE OF THIS NOTE.

Upon receipt by the Maker of evidence reasonably satisfactory to the Maker of the loss, theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Maker in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Maker shall execute and deliver to the Holder a new Note representing the outstanding Principal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. NOTICES. Any notices, consents, waivers or other communications required or permitted to be given under the terms shall be handled according to the Notice clause in the Subscription Agreement.

The addresses for such communications shall be:

If to the Maker:

Paul Kacir, CEO

RVeloCITY, Inc.

2801 E. Camelback Road, Suite 200

Phoenix, Arizona 85016

Email: paul.kacir@rvngo.com

If to the Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. APPLICABLE LAW AND VENUE. This Note shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to conflicts of laws principles thereof. Any action brought by either party against the other concerning the transactions contemplated by this Note shall be brought only in the state courts of Delaware that are located in Wilmington or in the federal courts located in Wilmington, in the State of Delaware. Both parties and the individuals signing this Note agree to submit to the jurisdiction of such courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. WAIVER. Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. MISCELLANEOUS

&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>Lawful Money; Costs of Collection</u>. All amounts payable hereunder are payable in lawful money of the United States. RVeloCITY agrees to pay all costs of collection when incurred, including reasonable attorneys' fees and costs, whether or not a suit or action is instituted to enforce this Note, including but not limited to court costs, appraisal fees, the cost of searching records, obtaining title reports and title insurance and trustee's fees, to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Offset; Holder in Due Course</u>. All payments under this Note made by or on behalf of RVeloCITY shall be made without setoff or counterclaim and free and clear of, and without deduction or withholding for or on account of, any federal, state, or local taxes. RVeloCITY waives any right of offset it now has or may hereafter have against Agent or Holder and its successors and assigns as to this Note (but retains any such rights as to any other prior or future transaction between these parties), and agrees to make the payments called for hereunder in accordance with the terms hereof. The holder hereof and all successors thereof shall have all the rights of a holder in due course as provided in the Delaware Uniform Commercial Code and other laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Waivers</u>. RVeloCITY and any endorsers, guarantors or sureties hereof severally waive presentment and demand for payment, notice of intent to accelerate maturity, protest or notice of protest or non-payment, bringing of suit and diligence in taking any action to collect any sums owing hereunder or in proceeding against any of the rights and properties securing payment hereunder; expressly agree that this Note, or any payment hereunder, may be extended from time to time; and consent to the acceptance of further security or the release of any security for this Note, all without in any way affecting the liability of RVeloCITY and any endorsers or guarantors hereof. No extension of time for the payment of this Note, or any installment hereof, made by agreement by the holder hereof with any person now or hereafter liable for the payment of this Note, shall affect the original liability under this Note of RVeloCITY, even if RVeloCITY (or any entity comprising RVeloCITY) is not a party to such agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Usury Protection</u>. The parties hereto intend to conform strictly to the applicable usury laws. In no event, regardless of any provisions contained therein or in any other document executed or delivered in connection herewith, shall the holder hereof ever be deemed to have contracted for or be entitled to receive, collect or apply as interest on this Note, any amount in excess of the maximum amount permitted by applicable law (the "<u>Maximum Rate</u>"). In no event, whether by reason of demand for payment, prepayment, acceleration of the maturity hereof or otherwise, shall the interest contracted for, charged or received by the holder hereunder or otherwise exceed the Maximum Rate. If for any circumstance whatsoever interest would otherwise be payable to the holder in excess of the maximum lawful amount, the interest payable to the holder shall be reduced automatically to the Maximum Rate and any payment received in excess of such amount shall be applied to the outstanding principal balance of the Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Entire Agreement</u>. This Note, the other Transaction Documents, and all other documents and instruments contemplated hereby and thereby together constitute the entire agreement between and among the parties pertaining to the subject matter hereof. No supplement, modification or amendment of this Note shall be binding unless executed in writing by the parties. No waiver shall be binding unless executed in writing by the party making the waiver. No provision of this Note shall be interpreted for or against the drafting party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Commercial Purpose.</u> RVeloCITY agrees that no funds advanced under this Note shall be used for personal, family or household purposes, and that all funds advanced hereunder shall be used solely for business, commercial, investment or other similar purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Successors and Assigns</u>. All the terms and provisions of this Note shall be binding upon and inure to the benefit of the parties to this Note and their respective successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Assignment</u>. RVeloCITY may not, voluntarily or involuntarily, directly or indirectly, by operation of law or otherwise, sell, transfer, assign, hypothecate, pledge or in any way alienate this Note or any right or interest in this Note (each a "<u>Transfer</u>") without Holder's prior written consent, which Holder may withhold in its sole and absolute discretion. Any consent by Holder to any Transfer shall not constitute consent to any other Transfer. Holder may freely Transfer its interest, rights, or title in or to this Note or the other Transaction Documents in Holder's sole and absolute discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Construction.</u> Whenever used in this Note, the terms "including," "include," "includes" and the like are not intended as terms of limitation, and, hence, shall be deemed to be followed by "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;(j) <u>Severability</u>. If any provision of this Note, as applied to any party or to any circumstance, shall be found by a court of competent jurisdiction to be void, invalid or unenforceable, the same shall in no way affect any other provision of this Note, the application of any such provision in any other circumstance, or the validity or enforceability of this Note, and any provision which is found to be void, invalid or unenforceable shall be curtailed and limited only to the extent necessary to bring such provision within the requirements of the law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Survival of Terms</u>. The terms and provisions of this Note shall survive the Maturity Date until full payment of all amounts due 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;(l) <u>Preferential Payment</u>. If at any time any payment made pursuant to this Note is deemed to have been a voidable preference, fraudulent conveyance or other similar conveyance or preferential payment under any bankruptcy, insolvency or other debtor relief or similar law, then the obligation to make such payment shall survive any cancellation or satisfaction of this Note or return of this Note to RVeloCITY and shall not be discharged or satisfied with any such payment or cancellation. Such payment shall instead remain a valid and binding obligation enforceable in accordance with the terms of this Note and shall be immediately due and payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Relief From Stay</u>. As an additional inducement to and material consideration for Holder agreeing to execute this Note and the other Transaction Documents, RVeloCITY agrees that in the event a Bankruptcy or Judicial Action (as hereinafter defined in this <u>Section 8(m)</u>) is commenced which subjects Holder to any stay in the exercise of Holder's rights and remedies under this Note or the other Transaction Documents, including, but not limited to, the automatic stay imposed by Section 362 of the United States Bankruptcy Code (individually and collectively, "<u>Stay</u>"), then RVeloCITY irrevocably consents and agrees that such Stay shall automatically be lifted and released against Holder, and Holder shall thereafter be entitled to exercise all of its rights and remedies against RVeloCITY that is or could be subject any Stay under this Note or the other Transaction Documents. Nothing contained herein shall limit or prevent Holder from exercising all of its rights and remedies against RVeloCITY that is not the subject any Stay under this Note or the other Transaction Documents. RVeloCITY acknowledges that it is knowingly, voluntarily, and intentionally waiving its rights to any Stay and agrees that the benefits provided to RVeloCITY under the terms of this Note are valuable consideration for such waiver. As used in this <u>Section 8(n)</u>, the term "<u>Bankruptcy or Judicial Action</u>" shall mean any voluntary or involuntary case filed by or against a RVeloCITY under the United States Bankruptcy Code, or any voluntary or involuntary petition in composition, readjustment, liquidation, or dissolution, or any state and federal bankruptcy law action filed by or against a RVeloCITY, any action where a RVeloCITY is adjudicated as bankrupt or insolvent, any action for dissolution of a RVeloCITY, or any action in furtherance of any of the foregoing, or any other action, case, or proceeding that has the effect of staying (or in which a stay is being obtained against) the enforcement by Holder of its rights and remedies under the this Note or the other Transaction Documents.

Except to enforce the terms of the Transaction Documents, RVeloCITY shall not take any action and shall not fail to take any action which such action or omission will or might tend to interfere with, delay, enjoin or otherwise prohibit the commencement, continuation or completion of efforts by Holder to enforce its remedies under this Note or the other Transaction Documents, or applicable law. Without limiting the generality of the foregoing and except to enforce the terms of the Transaction Documents, RVeloCITY waives its rights, if any, to seek or obtain a stay, injunction or other form of order prohibiting in any way any act necessary or appropriate for the commencement or completion of Holder's enforcement of its remedies under the this Note or the other Transaction Documents, or applicable law (without limiting the generality of the foregoing, such waiver extends to such rights which may exist under any statute or rule relating to bankruptcy cases, including, without limitation, 11 U.S.C. § 105, 11 U.S.C. § 301, 11 U.S.C. § 302, 11 U.S.C. § 303, 11 U.S.C. § 304, 11 U.S.C. § 362, 11 U.S.C. § 348, 11 U.S.C. § 706, 28 U.S.C. § 157, 28 U.S.C. § 158, Federal Rule of bankruptcy Procedure ("FRBP") 3007, FRBP 3008, FRBP 3012, FRBP 8005, FRBP 9023, FRBP 9024, or FRBP 9029).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. AMENDMENT AND WAIVER OF RIGHTS. This Note may be amended and the observance of any term hereof may be waived (either generally or in a particular instance either retroactively or prospectively) only by a written instrument executed by the Maker and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. WAIVER OF RIGHT TO TRIAL BY JURY.

EACH PARTY TO THIS NOTE HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (1) ARISING UNDER THIS NOTE, THE OTHER TRANSACTION DOCUMENTS, OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION THEREWITH, OR (2) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS NOTE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY. THE PARTIES HERETO HEREBY AGREE THAT THE PROVISIONS CONTAINED HEREIN HAVE BEEN FAIRLY NEGOTIATED ON AN ARM'S-LENGTH BASIS, WITH BOTH SIDES AGREEING TO THE SAME KNOWINGLY AND BEING AFFORDED THE OPPORTUNITY TO HAVE THEIR RESPECTIVE LEGAL COUNSEL CONSENT TO THE MATTERS CONTAINED HEREIN. ANY PARTY TO THIS NOTE MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY AND THE AGREEMENTS CONTAINED HEREIN REGARDING THE APPLICATION OF JUDICIAL REFERENCE IN THE EVENT OF THE INVALIDITY OF SUCH JURY TRIAL WAIVER.

IN WITNESS WHEREOF, the Maker has caused this Note to be duly executed by a duly authorized officer as of the date set forth above.

---

| | |
|:---|:---|
| RVeloCITY, Inc. | RVeloCITY, Inc. |
| By: |  |
| Name: | Paul Kacir |
| Title: | Chief Executive Officer |

---

Note No. [ ]

## Exhibit 10.13

**Exhibit 10.13**

NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

**CLASS A COMMON STOCK PURCHASE WARRANT**

**RVeloCITY, INC.**

Warrant No. W-____ Issue Date: [Month] ___, 2022

THIS CLASS A COMMON STOCK PURCHASE WARRANT (the "***Warrant***") certifies that, for value received, ________________________ or any registered assigns (the "***Holder***") is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time following the Issue Date (the "***Initial Exercise Date***") and on or prior to the close of business on ___________________, **2027**<sup>1</sup> (the "***Termination Date***") but not thereafter, to subscribe for and purchase from RVeloCITY, Inc., a Delaware corporation (the "***Company***"), [800,000] shares of Class A Common Stock (the "***Warrant Shares***"). The purchase price of one share of Class A Common Stock under this Warrant shall be $2.50.

<u>Section 1.</u> Definitions. For the purposes hereof, in addition to the terms defined elsewhere in this Warrant, (a) capitalized terms not otherwise defined herein shall have the meanings set forth in the Subscription Agreement entered into by the Company and the Holder of even day herewith and (b) the following terms shall have the following meanings:

"***Business Day***" means any day except any Saturday, any Sunday, any day which shall be a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

"***Common Stock***" means the shares of Class A common stock, $0.0001 par value per share, of the Company.

"***Exercise Period***" shall have the meaning as that term is defined in Section 2(a) below.

"***Person***" means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

"***Securities Act***" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

<sup>1</sup> Five years from the Issue Date

"***Trading Day***" means a day on which the New York Stock Exchange is open for business.

"***Trading Market***" means the following markets or exchanges on which the Common Stock may be listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York Stock Exchange.

<u>Section 2.</u> <u>Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Exercise of Warrant</u>. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date (the "***Exercise Period***") by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed notice of exercise ("***Notice of Exercise***") form attached hereto as Exhibit A; and, within three (3) Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier's check drawn on a United States bank. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. In the event of any dispute or discrepancy, the records of the Company shall be controlling and determinative in the absence of manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Exercise Price</u>. The exercise price per share of the Common Stock under this Warrant shall be equal to $2.50, subject to adjustment as provided for 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;c) <u>Mechanics of Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Delivery of Warrant Shares Upon Exercise</u>. Certificates for shares purchased hereunder shall be transmitted by the Company's transfer agent (the "***Transfer Agent***") to the Holder by crediting the account of the Holder's prime broker with the Depository Trust Company through its Deposit Withdrawal Agent Commission ("***DWAC***") system if the Company is then a participant in such system and either (A) there is a registration statement permitting the resale of the Warrant Shares by the Holder or (B) the shares are eligible for resale without volume or manner-of-sale limitations pursuant to Rule 144, and otherwise by physical delivery of certificates to the address specified by the Holder in the Notice of Exercise within four (4) Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant (if required) and payment of the aggregate Exercise Price as set forth above (the "***Warrant Share Delivery Date***"). This Warrant shall be deemed to have been exercised on the date the Exercise Price is received by the Company. The Warrant Shares shall be deemed to have been issued, and Holder or any other Person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company of the Exercise Price and all taxes required to be paid by the Holder, if any, prior to the issuance of such shares, have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Delivery of Warrants Upon Exercise</u>. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. <u>Rescission Rights</u>. If the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or the certificates representing the Warrant Shares pursuant to Section 2(c)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. <u>No Fractional Shares or Scrip</u>. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. <u>Charges, Taxes and Expenses</u>. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the assignment form ("***Assignment Form***") attached hereto as Exhibit B duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. <u>Closing of Books</u>. The Company will not close its shareholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

<u>Section 3.</u> <u>Certain Adjustments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Stock Dividends and Splits</u>. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any Warrant Shares issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Calculations</u>. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) <u>Notice to Holder</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Adjustment to Exercise Price</u>. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Notice to Allow Exercise by Holder</u>. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, of any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice. The Holder is entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice.

<u>Section 4.</u> <u>Transfer of Warrant</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Transferability</u>. This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Warrants</u>. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial Exercise Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) <u>Warrant Register</u>. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the "***Warrant Register***"), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

<u>Section 5.</u> <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>No Rights as Shareholder Until Exercise</u>. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Loss, Theft, Destruction or Mutilation of Warrant</u>. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) <u>Saturdays, Sundays, Holidays, etc</u>. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) <u>Authorized Shares</u>. The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock one hundred (100%) of the number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. In case such amount of Common Stock is insufficient at any time, the Company shall call and hold a special meeting to increase the number of authorized shares of common stock. Management of the Company shall recommend to shareholders to vote in favor of increasing the number of authorized shares of common stock.

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its amended and restated certificate of incorporation, as amended, or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) <u>Jurisdiction</u>. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to conflicts of laws principles thereof. Any action brought by either party against the other concerning the transactions contemplated by this Warrant shall be brought only in the state courts of Delaware that are located in Wilmington or in the federal courts located in Wilmington, in the State of Delaware. Both parties and the individuals signing this Warrant agree to submit to the jurisdiction of such courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) <u>Restrictions</u>. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) <u>Nonwaiver and Expenses</u>. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice Holder's rights, powers or remedies, notwithstanding the fact that all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys' fees, including those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h) <u>Notices</u>. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the addresses provided by the Holder of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) <u>Limitation of Liability</u>. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) <u>Remedies</u>. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k) <u>Successors and Assigns</u>. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l) <u>Amendment</u>. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m) <u>Severability</u>. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n) <u>Headings</u>. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

[Signature Page Follows.]

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

---

| | |
|:---|:---|
| **RVeloCITY, INC.** | **RVeloCITY, INC.** |
| By: |  |
| Name: | Paul Kacir |
| Title: | Chief Executive Officer |

---

<u>EXHIBIT C-1</u>

**NOTICE OF EXERCISE**

TO:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The undersigned hereby elects to purchase ______ Warrant Shares of the Company pursuant to the terms of the attached Warrant and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is specified below:

The Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>Accredited Investor</u>. The undersigned is an "accredited investor" as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

[SIGNATURE OF HOLDER]

Name of Investing Entity:

*Signature of Authorized Signatory of Investing Entity*:

Name of Authorized Signatory:

Title of Authorized Signatory:

Date:

<u>EXHIBIT C-2</u>

**ASSIGNMENT FORM**

(To assign the foregoing warrant, execute

this form and supply required information. Do

not use this form to exercise the warrant.)

FOR VALUE RECEIVED, [____] all of or [_____] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to

_________________________________________________ whose address is

_______________________________________________________________.

_______________________________________________________________

Dated: ____________________, __________

Holder's Signature:  

Holder's Address:  

Signature Guaranteed:  

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

## Exhibit 10.14

**Exhibit 10.14**

**THE SECURITIES TO BE ISSUED PURSUANT TO THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("SECURITIES ACT"), OR ANY OTHER APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD UNLESS REGISTERED THEREUNDER OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.**

**SUBSCRIPTION AGREEMENT**

RVeloCITY, Inc.,

2801 E. Camelback Road, Suite 200

Phoenix, Arizona 85016

Attn: Paul Kacir

Ladies and Gentlemen:

**<u>Subscription</u>**. The undersigned (sometimes referred to herein as the "<u>Investor</u>") hereby subscribes for and agrees to purchase the principal amount of the Notes and Warrants (as defined below) of RVelocity Inc., a Delaware corporation (the "<u>Company</u>"), for the purchase price (the "Purchase Price") set forth on the signature page hereto pursuant to this agreement, the Note (as defined below) and the Warrant (as defined below) (collectively, the "<u>Offering Documents</u>"). Terms not defined herein are as defined in the Offering Documents. The Company is seeking to raise, through a private placement offering (the "Offering") of the Notes and Warrants pursuant to Rule 506(b) promulgated under the Securities Act of 1933, as amended, $5,000,000 (the "Offering Amount") in this Offering. Boustead and the Company, in their sole discretion, may accept subscriptions in excess of the Maximum Offering Amount. The minimum amount of investment required from any one subscriber to participate in this Offering is $25,000, however, the Company reserves the right, in its sole discretion, to accept subscriptions less than this amount. All references to $ or "dollar(s)" means United States dollars. The undersigned acknowledges that the Company has engaged Boustead <u>Securities, L</u>LC ("<u>Boustead</u>" or "Placement Agent") as its exclusive placement agent in connection with this offering.

1. **<u>Description of Securities; Description of Company and Risk Factors</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Description of Securities</u>. The Company is Offering to the Investor in the minimum subscription amount
 of $25,000, however, the Company reserves the right, in its sole discretion, to accept subscriptions
 less than this amount, units (the "Units") consisting of the Company's
 (i) 10% unsecured promissory notes (the " <u>Notes</u> " or a "N <u>ote"</u>),
 which Notes shall be due upon the earlier of October 31, 2025 or completion of the Company's
 initial public offering and (ii) warrants to purchase a number of shares of Common Stock
 that is equal to the initial principal amount of the Note acquired by the Investor divided
 by the lower of $2.50 or 50% of the IPO price, with an exercise price of $2.50 per share
 or 50% of the IPO price, whichever is lower (the "Warrants"). The Notes and Warrants
 shall be substantially in the form attached hereto as Exhibit B and Exhibit C, respectively.

This Offering is being conducted in advance of the Company's intended initial public offering ("<u>IPO</u>") of our common stock, par value $0.0001 per share (the "<u>Common Stock</u>"), and listing our Common Stock for trading on the Nasdaq Capital Market or other national securities exchange.

Under our engagement letter with Boustead, dated as of September 13, 2021 (the "<u>Engagement Letter</u>"), Boustead has been engaged as the Company's exclusive financial advisor for the 18-month term of the Engagement Letter or 12 months from the IPO. In addition, Boustead has expressed its intent to enter into an Underwriting Agreement with the Company to act as the lead underwriter for the proposed IPO on a "firm commitment" basis. There can be no assurance that we and Boustead will be able to agree on the terms of such Underwriting Agreement or that our proposed IPO will be successfully consummated.

The Notes, Warrants and shares issuable upon exercise of the Warrants (the "<u>Warrant Shares</u>") are sometimes referred to herein as the "<u>Securities</u>."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Risks Related to the Investment in the Securities</u>. Investing in the Securities involves a high
 degree of risk. The Company has prepared and presented to the Investor, and the Investor
 has had the opportunity to review, a detailed set of risk factors concerning the Company.

2. **<u>Purchase</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 hereby agree to tender to Sutter Securities, Inc. (the " <u>Escrow Agent</u> "),
 by check or wire transfer of immediately available funds (to a bank account and related wire
 instructions to be provided to me on my request) made payable to "Sutter Securities,
 Inc., as Escrow Agent for RVnGO Inc." for the principal amount of the Note indicated
 on the signature page hereto, an executed copy of this Subscription Agreement and an executed
 copy of my Investor Questionnaire attached immediately following the signature pages hereto.
 Funds will be held in escrow, as set forth in more detail below (the " <u>Escrow Account</u> "),
 pending the Initial Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The
 Offering is for a maximum offering of the Maximum Offering Amount. All subscriptions to purchase
 Notes will be held in a noninterest-bearing escrow account (the "Escrow Account")
 maintained by the Escrow Agent. The subscriptions will remain in the Escrow Account until
 the Company has accepted such subscriptions and the Company, in its sole discretion, may
 accept subscriptions in excess of the Maximum Offering Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. This
 Offering will continue until the earlier of (a) the sale Notes for the Maximum Offering Amount,
 (b) November 30, 2022, or such extension date agreed to, in their sole discretion, by the
 Company and Boustead (the " <u>Termination Date</u> "). Upon the earlier of a "Closing"
 (defined below) on my subscription or completion of the Offering, I will be notified promptly
 by the Company as to whether my subscription has been accepted by the Company.

3. **<u>Acceptance or Rejection of Subscription</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 understand and agree that the Company reserves the right to reject this subscription for
 the Securities, in whole or in part, for any reason and at any time prior to the "Closing"
 (defined below) of my subscription.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. In
 the event the Company rejects this subscription, my subscription payment will be promptly
 returned to me without interest or deduction and this Subscription Agreement shall be of
 no force or effect. In the event my subscription is accepted and the Offering is completed,
 the subscription funds submitted by me shall be released to the Company.

4. **<u>Closing</u>**. The closing ("<u>Closing</u>") of this Offering may occur at any time and from time to time on or before the Termination Date. The Company may conduct an initial Closing (the "<u>Initial Closing</u>") at any time after the acceptance of an investor's subscription and the Initial Closing will be held and all funds will be released from the Escrow Account and paid to the Company, less professional fees and compensation paid to the Placement Agent and syndicate members, if any. Thereafter, additional Closings will be held as funds are received up to the earlier to occur of receipt of the Maximum Offering Amount or the Termination Date. Boustead and the Company, in their sole discretion, may accept subscriptions in excess of the Maximum Offering Amount. All subscriptions will be placed in escrow with the Escrow Agent. If, for any reason, at the Company's sole discretion, an investors subscription is rejected the subscribers escrowed funds will be returned to subscribers, without interest or deduction. The Securities subscribed for herein shall not be deemed issued to or owned by me until one copy of this Subscription Agreement has been executed by me and countersigned by the Company and the Closing with respect to such Securities has occurred.

5. **<u>Disclosure</u>**. Because this offering is limited to accredited investors as defined in Section 2(15) of the Securities Act, and Rule 501 promulgated thereunder, in reliance upon the exemption contained in Section 4(a)(2) of the Securities Act and applicable state securities laws, the Securities are being sold without registration under the Securities Act. I acknowledge receipt of the Offering Documents and represent that I have carefully reviewed and understand the Offering Documents, including all exhibits attached hereto. I have received all information and materials regarding the Company that I have requested. I fully understand that the Company has a limited financial and operating history and that the Securities are speculative investments which involve a high degree of risk, including the potential loss of my entire investment. I fully understand the nature of the risks involved in purchasing the Securities and I am qualified to make such investment based on my knowledge of and experience in investing in securities of this type. I have carefully considered the potential risks relating to the Company and purchase of its Securities and have, in particular, reviewed each of the risks set forth in the Offering Documents. Both my advisors and I have had the opportunity to ask questions of and receive answers from representatives of the Company or persons acting on its behalf concerning the Company and the terms and conditions of a proposed investment in the Company and my advisors and I have also had the opportunity to obtain additional information necessary to verify the accuracy of information furnished about the Company. Accordingly, I have independently evaluated the risks of purchasing the Securities.

6. **<u>Investor Representations and Warranties</u>**. I acknowledge, represent and warrant to, and agree with, the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. I
 am aware that my investment involves a high degree of risk as disclosed in the Offering Documents
 and have read carefully the Offering Documents, and I understand that by signing this Subscription
 Agreement I am agreeing to be bound by all of the terms and conditions of the Offering Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. I
 acknowledge and am aware that there is no assurance as to the future performance of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. I
 acknowledge that there may be certain adverse tax consequences to me in connection with my
 purchase of Securities, and the Company has advised me to seek the advice of experts in such
 areas prior to making this investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. I
 am purchasing the Securities for my own account for investment purposes only and not with
 a view to or for sale in connection with the distribution of the Securities, nor with any
 present intention of selling or otherwise disposing of all or any part of the foregoing securities.
 I agree that I must bear the entire economic risk of my investment for an indefinite period
 of time because, among other reasons, the Securities have not been registered under the Securities
 Act or under the securities laws of any state and, therefore, cannot be resold, pledged,
 assigned or otherwise disposed of unless they are subsequently registered under the Securities
 Act and under applicable securities laws of certain states or an exemption from such registration
 is available. I hereby authorize the Company to place a restrictive legend on the Securities
 that are issued to me.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. I
 recognize that the Securities, as an investment, involve a high degree of risk including,
 but not limited to, the risk of economic losses from operations of the Company and the total
 loss of my investment. I believe that the investment in the Securities is suitable for me
 based upon my investment objectives and financial needs, and I have adequate means for providing
 for my current financial needs and contingencies and have no need for liquidity with respect
 to my investment in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. I
 have been given access to full and complete information regarding the Company and have utilized
 such access to my satisfaction for the purpose of obtaining information in addition to, or
 verifying information included in, the Offering Documents, and I have either met with or
 been given reasonable opportunity to meet with officers of the Company for the purpose of
 asking questions of, and receiving answers from, such officers concerning the terms and conditions
 of the offering of the Securities and the business and operations of the Company and to obtain
 any additional information, to the extent reasonably available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. I
 have such knowledge and experience in financial and business matters as to be capable of
 evaluating the merits and risks of an investment in the Securities and have obtained, in
 my judgment, sufficient information from the Company to evaluate the merits and risks of
 an investment in the Company. I have not utilized any person as my purchaser representative
 as defined in Regulation D under the Securities Act in connection with evaluating such merits
 and risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. I
 have relied solely upon my own investigation in making a decision to invest in the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. I
 have received no representation or warranty from the Company or any of its officers, directors,
 employees or agents in respect of my investment in the Company and I have received no information
 (written or otherwise) from them relating to the Company or its business other than as set
 forth in the Offering Documents. I am not participating in the offer as a result of or subsequent
 to: (i) any advertisement, article, notice or other communication published in any newspaper,
 magazine or similar media or broadcast over television or radio or (ii) any seminar or meeting
 whose attendees have been invited by any general solicitation or general advertising.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. I
 have had full opportunity to ask questions and to receive satisfactory answers concerning
 the offering and other matters pertaining to my investment and all such questions have been
 answered to my full satisfaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. I
 have been provided an opportunity to obtain any additional information concerning the offering
 and the Company and all other information to the extent the Company possesses such information
 or can acquire it without unreasonable effort or expense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. I
 am an "accredited investor" as defined in Section 2(15) of the Securities Act
 and in Rule 501 promulgated thereunder and have attached the completed Accredited Investor
 Questionnaire to indicate my "accredited investor" status. I can bear the entire
 economic risk of the investment in the Securities for an indefinite period of time and I
 am knowledgeable about and experienced in making investments in the equity securities of
 non-publicly traded companies, including early stage companies. I am not acting as an underwriter
 or a conduit for sale to the public or to others of unregistered securities, directly or
 indirectly, on behalf of the Company or any person with respect to such securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. I
 understand that (1) the Securities have not been registered under the Securities Act, or
 the securities laws of certain states, in reliance on specific exemptions from registration,
 (2) no securities administrator of any state or the federal government has recommended or
 endorsed this offering or made any finding or determination relating to the fairness of an
 investment in the Company, and (3) the Company is relying on my representations and agreements
 for the purpose of determining whether this transaction meets the requirements of certain
 exemptions from registration afforded by the Securities Act and certain state securities
 laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. I
 understand that since neither the offer nor sale of the Securities has been registered under
 the Securities Act or the securities laws of any state, the Securities may not be sold, assigned,
 pledged or otherwise disposed of unless they are so registered or an exemption from such
 registration is available.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. I
 have had the opportunity to seek independent advice from my professional advisors relating
 to the suitability of an investment in the Company in view of my overall financial needs
 and with respect to the legal and tax implications of such investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. If
 the Investor is a corporation, company, trust, employee benefit plan, individual retirement
 account, Keogh Plan, or other tax-exempt entity, it is authorized and qualified to become
 an Investor in the Company and the person signing this Subscription Agreement on behalf of
 such entity has been duly authorized by such entity to do so.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;q. The
 information contained in my Investor Questionnaire, as well as any information which I have
 furnished to the Company with respect to my financial position and business experience, is
 correct and complete as of the date of this Subscription Agreement and, if there should be
 any material change in such information prior to the Closing of the offering, I will furnish
 such revised or corrected information to the Company. I hereby acknowledge and am aware that
 except for any rescission rights that may be provided under applicable laws, I am not entitled
 to cancel, terminate or revoke this subscription and any agreements made in connection herewith
 shall survive my death or disability.

7. **<u>Placement Agent</u>.** The Company has engaged Boustead, a broker-dealer licensed with FINRA, as placement agent for the Offering on a reasonable best-efforts basis. The Company anticipates that the Placement Agent and its sub-agents or syndicate members will be paid at each Closing from the proceeds in the Escrow Account, fees including and not to exceed: a cash commission of seven percent (7%) of the gross Purchase Price paid by Subscribers in the Offering; a non-accountable expense allowance for certain investors of one percent (1%) of the gross purchase price paid by Subscribers in the Offering; and will receive warrants to purchase a number of shares of Common Stock equal to seven percent (7%) of the Common Stock underlying the Notes sold in the Offering to investors, with a term of five (5) years from the relevant Closing Date, and at a per share exercise price equal to the exercise price of the Warrants issued to the Subscribers herein (the "<u>Placement Agent Warrants</u>"). Any sub-agent or syndicate member of the Placement Agent that introduces investors to the Offering will be entitled to share in the cash fees and Placement Agent Warrants attributable to those investors as described above, pursuant to the terms of an executed sub-agent or selected dealer agreement. The Company will also pay certain expenses of the Placement Agent.

8. **<u>Representations and Warranties of the Company</u>**. When used in this Section 8, unless the context indicates otherwise, all references to the "Company" also mean and include the direct and indirect subsidiaries of the Company. The Company hereby represents and warrants to the Subscriber, as of the date hereof and on each Closing Date, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Organization and Qualification</u>. The Company and each of its subsidiaries, if any, is a corporation
 or other business entity duly organized, validly existing and in good standing under the
 laws of the jurisdiction of its formation and has the requisite corporate power to own its
 properties and to carry on its business as now being conducted. The Company and each of its
 subsidiaries is duly qualified as a foreign corporation to do business and is in good standing
 in every jurisdiction in which the nature of the business conducted by it makes such qualification
 necessary, except to the extent that the failure to be so qualified or be in good standing
 would not have a material adverse effect on the assets, business, financial condition, results
 of operations or future prospects of the Company and its subsidiaries taken as a whole (a
 " <u>Material Adverse Effect</u> ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Authorization, Enforcement, Compliance with Other Instruments</u>. (i) The Company has the requisite corporate
 power and authority to enter into and perform its obligations under this Agreement, and each
 of the Offering Documents and to issue the Securities in accordance with the terms hereof,
 (ii) the execution and delivery by the Company of each of the Offering Documents and the
 consummation by it of the transactions contemplated hereby and thereby, including, without
 limitation, the issuance of the Securities have been, or will be at the time of execution
 of such Offering Document, duly authorized by the Company's Board of Directors, and
 no further consent or authorization is, or will be at the time of execution of such Offering
 Document, required by the Company, its respective Board of Directors or its stockholders,
 (iii) each of the Offering Documents will be duly executed and delivered by the Company,
 (iv) the Offering Documents when executed and delivered by the Company and each other party
 thereto will constitute the valid and binding obligations of the Company enforceable against
 the Company in accordance with their terms, except as such enforceability may be limited
 by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
 liquidation or similar laws relating to, or affecting generally, the enforcement of creditors'
 rights and remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Capitalization</u>.
 Pursuant to its Certificate of Incorporation, the authorized capital stock of the Company
 consists of 170,000,000 shares of Common Stock, each with a par value of $0.0001 per share,
 consisting of (a) 150,000,000 shares of Class A Common Stock (the " <u>Class A Common Stock</u> "), and (b) 20,000,000 shares of Class B Common Stock (the <u>Class B Common Stock</u> "). Immediately prior to the Initial Closing, the Company will have no more
 than 15,000,000 shares of Common Stock outstanding, including for this purpose 1,000,000
 shares of Common Stock reserved for issuance under the Company's equity incentive plan.
 All of the outstanding shares of Common Stock of the Company and all of the share capital
 of each of the Company's subsidiaries have been or will be, as of the Initial Closing,
 duly authorized, validly issued and are fully paid and nonassessable. No shares of capital
 stock of the Company or any of its subsidiaries will be subject to preemptive rights or any
 other similar rights or any liens or encumbrances suffered or permitted by the Company; There
 are no securities or instruments of the Company or any of its subsidiaries containing anti-dilution
 or similar provisions, including the right to adjust the exercise, exchange or reset price
 under such securities, that will be triggered by the issuance of the Securities as described
 in this Agreement. Upon request, the Company will make available to the Subscriber true and
 correct copies of the Company's Certificate of Incorporation, as amended and as in
 effect on the date hereof (the " <u>Certificate of Incorporation</u> "), and the
 Company's By-laws, as amended as in effect on the date hereof (the " <u>By-laws</u> "),
 and the terms of all securities exercisable for Common Stock and the material rights of the
 holders thereof in respect thereto other than stock options issued to officers, directors,
 employees and consultants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Subsidiaries and Affiliates</u>. The Company's direct operating subsidiary is RVeloCITY Inc., a
 Delaware corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Issuance of Securities</u>. The Securities are duly authorized and, upon issuance in accordance with
 the terms hereof, shall be duly issued, fully paid and nonassessable, and will be free and
 clear of all taxes, liens and charges with respect to the issue thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. <u>No Conflicts</u>. The execution, delivery and performance of each of the Offering Documents
 by the Company, and the consummation by the Company of the transactions contemplated hereby
 and thereby will not (i) result in a violation of the Certificate of Incorporation or the
 By-laws (or equivalent constitutive document) of the Company or any of its subsidiaries or
 (ii) violate or conflict with, or result in a breach of any provision of, or constitute a
 default (or an event which with notice or lapse of time or both would become a default) under,
 or give to others any rights of termination, amendment, acceleration or cancellation of,
 any agreement, indenture or instrument to which the Company or any subsidiary is a party,
 except for those which would not reasonably be expected to have a Material Adverse Effect,
 or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including
 U.S. federal and state securities laws and regulations) applicable to the Company or any
 subsidiary or by which any property or asset of the Company or any subsidiary is bound or
 affected except for those which could not reasonably be expected to have a Material Adverse
 Effect. Except those which could not reasonably be expected to have a Material Adverse Effect,
 neither the Company nor any subsidiary is in violation of any term of or in default under
 its constating documents. Except those which could not reasonably be expected to have a Material
 Adverse Effect, neither the Company nor any subsidiary is in violation of any term of or
 in default under any material contract, agreement, mortgage, indebtedness, indenture, instrument,
 judgment, decree or order or any statute, rule or regulation applicable to the Company or
 any subsidiary. The business of the Company and its subsidiaries is not being conducted,
 and shall not be conducted in violation of any law, ordinance, or regulation of any governmental
 entity, except for any violation which could not reasonably be expected, individually or
 in the aggregate, to have a Material Adverse Effect. Except as specifically contemplated
 by this Agreement and as required under the Securities Act and any applicable state securities
 laws, neither the Company nor any of its subsidiaries is required to obtain any consent,
 authorization or order of, or make any filing or registration with, any court or governmental
 agency in order for it to execute, deliver or perform any of its obligations under or contemplated
 by this Agreement or the other Offering Documents in accordance with the terms hereof or
 thereof. Neither the execution and delivery by the Company of the Offering Documents, nor
 the consummation by the Company of the transactions contemplated hereby or thereby, will
 require any notice, consent or waiver under any contract or instrument to which the Company
 or any subsidiary is a party or by which the Company or any subsidiary is bound or to which
 any of their assets is subject, except for any notice, consent or waiver the absence of which
 would not reasonably be expected, individually or in the aggregate, to have a Material Adverse
 Effect and would not adversely affect the consummation of the transactions contemplated hereby
 or thereby. All consents, authorizations, orders, filings and registrations which the Company
 or any of its subsidiaries is required to obtain pursuant to the preceding two sentences
 have been or will be obtained or effected on or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. <u>Absence of Litigation</u>. There is no action, suit, claim, inquiry, notice of violation, proceeding
 (including any partial proceeding such as a deposition) or investigation before or by any
 court, public board, governmental or administrative agency, self-regulatory organization,
 arbitrator, regulatory authority, stock market, stock exchange or trading facility (an " <u>Action</u> ")
 now pending or, to the knowledge of the Company, threatened, against or affecting the Company
 or any of its subsidiaries, wherein an unfavorable decision, ruling or finding would (i)
 adversely affect the validity or enforceability of, or the authority or ability of the Company
 to perform its obligations under this Agreement or any of the other Offering Documents, or
 (ii) have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. <u>Acknowledgment Regarding Subscriber's Purchase of the Securities</u>. The Company acknowledges and
 agrees that each Subscriber is acting solely in the capacity of an arm's length purchaser
 with respect to the Offering Documents and the transactions contemplated hereby and thereby.
 The Company further acknowledges that each Subscriber is not acting as a financial advisor
 or fiduciary of the Company (or in any similar capacity) with respect to the Offering Documents
 and the transactions contemplated hereby and thereby and any advice given by such Subscriber
 or any of their respective representatives or agents in connection with the Offering Documents
 and the transactions contemplated hereby and thereby is merely incidental to such Subscriber's
 purchase of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>No General Solicitation</u>. Neither the Company, nor any of its "affiliates" (as
 defined in Rule 144 under the Securities Act), nor, to the knowledge of the Company, any
 person acting on its or their behalf, has engaged in any form of general solicitation or
 general advertising (within the meaning of Regulation D) in connection with the offer or
 sale of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. <u>No Integrated Offering</u>. Neither the Company, nor any of its affiliates, nor to the knowledge
 of the Company, any person acting on its or their behalf has, directly or indirectly, made
 any offers or sales of any security or solicited any offers to buy any security, under circumstances
 that would require registration of the Securities under the Securities Act or cause this
 offering of the Securities to be integrated with prior offerings by the Company for purposes
 of the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. <u>Employee Relations</u>. Neither the Company nor any subsidiary is involved in any labor dispute nor,
 to the knowledge of the Company, is any such dispute threatened. Neither the Company nor
 any subsidiary is party to any collective bargaining agreement. The Company's and/or
 its subsidiaries' employees are not members of any union, and the Company believes
 that its and its subsidiaries' relationship with their respective employees is good.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. <u>Permits</u>.
 The Company and its subsidiaries have all authorizations, approvals, clearances, licenses,
 permits, certificates or exemptions (including manufacturing approvals and authorizations,
 pricing and reimbursement approvals, labeling approvals, registration notifications or their
 foreign equivalent) issued by any regulatory authority or governmental agency (collectively,
 " <u>Permits</u> ") required to conduct their respective businesses as currently
 conducted except to the extent that the failure to have such Permits would not have a Material
 Adverse Effect. The Company or its subsidiaries have fulfilled and performed in all material
 respects their obligations under each Permit, and, as of the date hereof, to the knowledge
 of the Company, no event has occurred or condition or state of facts exists which would constitute
 a breach or default or would cause revocation or termination of any such Permit except to
 the extent that such breach, default, revocation or termination would not have a Material
 Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. <u>Title</u>.
 Each of the Company and its subsidiaries has good and marketable title to all of its real
 and personal property and assets, free and clear of any material restriction, mortgage, deed
 of trust, pledge, lien, security interest or other charge, claim or encumbrance which would
 have a Material Adverse Effect. With respect to properties and assets it leases, each of
 the Company and its subsidiaries is in material compliance with such leases and holds a valid
 leasehold interest free of any liens, claims or encumbrances which would have a Material
 Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. <u>Rights of First Refusal</u>. The Company is not obligated to offer the Securities offered hereunder
 on a right of first refusal basis or otherwise to any third parties including, but not limited
 to, current or former stockholders of the Company, underwriters, brokers, agents or other
 third parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. <u>Reliance</u>.
 The Company acknowledges that the Subscriber is relying on the representations and warranties
 made by the Company hereunder and that such representations and warranties are a material
 inducement to the Subscriber purchasing the Securities. The Company further acknowledges
 that without such representations and warranties of the Company made hereunder, the Subscribers
 would not enter into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. <u>Brokers' Fees</u>. Aside from the fees owed to the Placement Agent, as set forth above, the Company
 does not have any liability or obligation to pay any fees or commissions to any broker, finder
 or agent with respect to the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;q. <u>Off-Balance Sheet Arrangements</u>. There is no transaction, arrangement, or other relationship between
 the Company or any subsidiary and an unconsolidated or other off- balance sheet entity that
 is required to be disclosed by the Company in the Financial Statements and is not so disclosed
 or that otherwise would have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;r. <u>Investment Company</u>. The Company is not required to be registered as, and is not an affiliate of,
 and immediately following the Closing will not be required to register as, an "investment
 company" within the meaning of the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;s. <u>Reliance</u>.
 The Company acknowledges that the Purchaser is relying on the representations and warranties
 made by the Company hereunder and that such representations and warranties are a material
 inducement to the Purchaser purchasing the Notes. The Company further acknowledges that without
 such representations and warranties of the Company made hereunder, the Purchaser would not
 enter into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;t. <u>Financial Statements</u>. The Company has delivered to the Investor its unaudited financial statements
 (including balance sheet and income statement) for the fiscal year ended November 31, 2020,
 and for the first nine (9) months of 2021 (the "Financial Statements"). The Financial
 Statements have been prepared on an accrual basis in accordance with the Company's
 past practice and applied on a consistent basis throughout the periods indicated. The Financial
 Statements fairly present in all material respects the financial condition and operating
 results of the Company as of the dates, and for the periods, indicated therein. Except as
 set forth in the Financial Statements, the Company has no material liabilities or obligations,
 contingent or otherwise, other than (i) liabilities incurred in the ordinary course of business
 subsequent to September 30, 2021; (ii) obligations under contracts and commitments incurred
 in the ordinary course of business; and (iii) liabilities and obligations of a type or nature
 not required to be included in financial statements that are prepared on an accrual basis,
 which, in all such cases, individually and in the aggregate would not have a Material Adverse
 Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;u. <u>Intellectual Property</u>. The Company owns or possesses, or it can acquire on commercially reasonable
 terms, sufficient legal rights to all Company Intellectual Property (as defined below) without
 any known conflict with, or infringement of, the rights of others, including prior employees
 or consultants, with which any of them may be affiliated now or may have been affiliated
 in the past. To the Company's knowledge, no product or service marketed or sold (or
 proposed to be marketed or sold) by the Company violates or will violate any license or infringes
 or will infringe any intellectual property rights of any other party. Other than with respect
 to commercially available software products under standard end-user object code license agreements,
 there are no outstanding options, licenses, agreements, claims, encumbrances or shared ownership
 interests of any kind relating to the Company Intellectual Property, nor is the Company bound
 by or a party to any options, licenses or agreements of any kind with respect to the patents,
 trademarks, service marks, trade names, copyrights, trade secrets, licenses, information,
 proprietary rights and processes of any other Person. The Company has not received any communications
 alleging that the Company has violated, or by conducting its business, would violate any
 of the patents, trademarks, service marks, tradenames, copyrights, trade secrets, mask works
 or other proprietary rights or processes of any other Person. The Company has obtained and
 possesses valid licenses to use all of the software programs present on the computers and
 other software-enabled electronic devices that it owns or leases or that it has otherwise
 provided to its employees for their use in connection with the Company's business.
 To the Company's knowledge, it will not be necessary to use any inventions of any of
 its employees or consultants (or Persons it currently intends to hire) made prior to their
 employment by the Company, including prior employees or consultants, with which any of them
 may be affiliated now or may have been affiliated in the past. Each current and prior employee
 and consultant has assigned to the Company all intellectual property rights he or she owns
 that are related to the Company's business as now conducted and as presently proposed
 to be conducted and all intellectual property rights that he, she or it solely or jointly
 conceived, reduced to practice, developed or made during the period of his, her or its employment
 or consulting relationship with the Company that (a) relate, at the time of conception, reduction
 to practice, development, or making of such intellectual property right, to the Company's
 business as then conducted or as then proposed to be conducted, (b) were developed on any
 amount of the Company's time or with the use of any of the Company's equipment,
 supplies, facilities or information or (c) resulted from the performance of services for
 the Company. Schedule 8(u) lists all patents, patent applications, registered trademarks,
 trademark applications, service marks, service mark applications, tradenames, registered
 copyrights, domain name registrations, and licenses to and under any of the foregoing, in
 each case owned by the Company. The Company has not embedded any open source, copyleft or
 community source code in any of its products generally available or in development, including
 but not limited to any libraries or code licensed under any General Public License, Lesser
 General Public License or similar license arrangement. For purposes of this 8(u), the Company
 shall be deemed to have knowledge of a patent right if the Company has actual knowledge of
 the patent right or would be found to be on notice of such patent right as determined by
 reference to United States patent laws. No government funding, facilities of a university,
 college, other educational institution or research center, or funding from third parties
 was used in the development of any Company Intellectual Property. No Person who was involved
 in, or who contributed to, the creation or development of any Company Intellectual Property,
 has performed services for the government, university, college, or other educational institution
 or research center in a manner that would affect Company's rights in the Company Intellectual
 Property. The Company has taken commercially reasonable measures to protect trade secrets
 and other material confidential information. None of the source code of the Company has been
 published, disclosed or put into escrow by the Company, and except for source code provided
 to third-party developers to make modifications or derivative works solely for the benefit
 of the Company, no licenses or rights have been granted to any Person to distribute, or to
 otherwise use to create derivative works, the source code for any Company Software.

9. **<u>Protective Provision</u>.** So long as the Note remains outstanding, at any time prior to the date that the Company's Common Stock is listed for trading on the Nasdaq Capital Market or another national securities exchange, the Company shall not, either directly or indirectly by amendment, merger, consolidation, recapitalization, reclassification, or otherwise, create, or authorize the creation of, or issue or obligate itself to issue shares of, its Preferred Stock. $0.0001 par value per share, or any indebtedness that is senior to the Notes, without the prior written consent of the Investor.

10. **<u>Indemnification</u>**. I hereby agree to indemnify and hold harmless the Company and its officers, directors, shareholders, employees, agents, advisors and counsel, and Boustead Securities, LLC and its officers, directors, shareholders, employees, agents, advisors and counsel, against any and all losses, claims, demands, liabilities and expenses (including reasonable legal or other expenses, including reasonable attorneys' fees) incurred by each such person in connection with defending or investigating any such claims or liabilities, whether or not resulting in any liability to such person, to which any such indemnified party may become subject under the Securities Act, under any other statute, at common law or otherwise, insofar as such losses, claims, demands, liabilities and expenses (a) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact made by me and contained in this Subscription Agreement or my Investor Questionnaire, or (b) arise out of or are based upon any breach by me of any representation, warranty, or agreement made by me contained herein or therein.

11. **<u>Severability</u>**. In the event any parts of this Subscription Agreement are found to be void, the remaining provisions of this Subscription Agreement shall nevertheless be binding with the same force and effect as though the void parts were deleted.

12. **<u>Choice of Law and Jurisdiction</u>**. This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to conflicts of laws principles thereof. Any action brought by either party against the other concerning the transactions contemplated by this Subscription Agreement shall be brought only in the state courts of Delaware that are located in Wilmington or in the federal courts located in Wilmington, in the State of Delaware. Both parties and the individuals signing this Subscription Agreement agree to submit to the jurisdiction of such courts.

13. **<u>Counterparts</u>**. This Subscription Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. The execution of this Subscription Agreement may be by actual or facsimile signature.

14. **<u>Benefit</u>**. This Subscription Agreement shall be binding upon and inure to the benefit of the parties hereto.

15. **<u>Notices and Addresses</u>**. All notices, offers, acceptance and any other acts under this Subscription Agreement (except payment) shall be in writing, and shall be sufficiently given if delivered to the addresses in person, by Federal Express or similar courier delivery or by electronic facsimile delivered to the party's email address, as follows:

Investor: At the address designated on the signature page of this Subscription Agreement.

Or the email address on the signature page of the Subscription Agreement

---

| | |
|:---|:---|
| The Company: | RVeloCITY, Inc. |
|  | 2801 E Camelback Road, Suite 200 |
|  | Phoenix, AZ 85016 |
|  | With a copy to paul.kacir@rvngo.com |

---

or to such other address as any of them, by notice to the others may designate from time to time. The transmission confirmation receipt from the sender's facsimile machine shall be conclusive evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery in person or by mailing.

16. **<u>Entire Agreement</u>**. This Subscription Agreement, together with the Offering Documents, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior oral and written agreements between the parties hereto with respect to the subject matter hereof. This Subscription Agreement may not be changed, waived, discharged, or terminated orally but, rather, only by a statement in writing signed by the party or parties against which enforcement or the change, waiver, discharge or termination is sought.

17. **<u>Section Headings</u>**. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part, any of the terms or provisions of this Subscription Agreement.

18. **<u>Survival of Representations, Warranties and Agreements</u>**. The representations, warranties and agreements of Investor contained herein shall survive the delivery of, and the payment for, the Securities.

19. **<u>Acceptance of Subscription</u>**. The Company may accept this Subscription Agreement at any time for all or any portion of the Securities subscribed for by executing a copy hereof as provided and notifying me within a reasonable time thereafter.

<u>RESIDENTS OF ALL STATES</u>: THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SAID ACT AND SUCH LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER SAID ACT AND SUCH LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY WILL BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE OFFERING DOCUMENTS. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.

<u>SALES IN FLORIDA</u>: THE SECURITIES OFFERED HEREBY WILL BE SOLD, AND ACQUIRED, IN A TRANSACTION EXEMPT UNDER SECTION 517.061(11) OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT. THE SECURITIES HAVE NOT BEEN REGISTERED UNDER SAID ACT IN THE STATE OF FLORIDA. PURSUANT TO SECTION 517.061(11) OF THE FLORIDA SECURITIES AND INVESTOR PROTECTION ACT, WHEN SALES ARE MADE TO FIVE (5) OR MORE PERSONS IN THE STATE OF FLORIDA, ANY SALE IN THE STATE OF FLORIDA MADE PURSUANT TO SECTION 517.061(11) OF SUCH ACT IS VOIDABLE BY THE PURCHASER IN SUCH SALE (WITHOUT INCURRING ANY LIABILITY TO THE COMPANY OR TO ANY OTHER PERSON OR ENTITY) EITHER WITHIN THREE (3) DAYS AFTER THE FIRST TENDER OF CONSIDERATION IS MADE BY SUCH PURCHASER TO THE ISSUER, AN AGENT OF THE ISSUER, OR AN ESCROW AGENT OR WITHIN THREE (3) DAYS AFTER THE AVAILABILITY OF THAT PRIVILEGE IS COMMUNICATED TO SUCH PURCHASER, WHICHEVER OCCURS LATER. TO VOID HIS OR HER PURCHASE, THE PURCHASER NEED ONLY SEND A LETTER OR TELEGRAM TO THE COMPANY AT THE ADDRESS INDICATED HEREIN. ANY SUCH LETTER OR TELEGRAM SHOULD BE SENT AND POSTMARKED PRIOR TO THE END OF THE AFOREMENTIONED THREE (3) DAY PERIOD. IT IS PRUDENT TO SEND ANY SUCH LETTER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO ASSURE THAT IT IS RECEIVED AND ALSO TO HAVE EVIDENCE OF THE TIME THAT IT WAS MAILED. SHOULD A PURCHASER MAKE THIS REQUEST ORALLY, THAT PURCHASER MUST ASK FOR WRITTEN CONFIRMATION THAT THE REQUEST HAS BEEN RECEIVED. IF NOTICE IS NOT RECEIVED WITHIN THE TIME LIMIT SPECIFIED HEREIN, THE FOREGOING RIGHT TO VOID THE PURCHASE SHALL BE NULL AND VOID.

(Remainder of Page left intentionally blank.)

**THE AGGREGATE AMOUNT SUBSCRIBED FOR HEREBY IS:**

$<u> </u> **principal Notes**

Manner in Which Title is to be Held. (check one)

__Individual Ownership __Community Property

__Joint Tenant with Right of Survivorship (both parties must sign)

__Partnership __Tenants in common

__Corporation Trust __IRA or Keogh

__Other (please indicate)

---

| | |
|:---|:---|
| INDIVIDUAL INVESTORS | ENTITY INVESTORS |
|  | Name of entity, if any |
| Signature (Individual) | By: |
| Signature (Joint) | \*Signature |
| (all record holders must sign) |  |
|  | Its: |
|  | Title: |
| Name Typed or Printed | Name Typed or Printed |
| Address to Which Correspondence Should be Directed | Address to Which Correspondence Should be Directed |
| City, State and Zip Code | City, State and Zip Code |
| Email address for notices | Email address for notices |
| Tax Identification or Social Security Number | Tax Identification or Social Security Number |

---

\*

*If Securities are being subscribed for by any entity, the Certificate of Signatory on the next page must also be completed* 

 

 

The foregoing subscription is accepted and the Company hereby agrees to be bound by its terms on ___ day of ___________________, 2022.

---

| | | |
|:---|:---|:---|
|  | **RVelocity, Inc.** | **RVelocity, Inc.** |
| **Dated:** | **By:** | |
|  | Name: | Paul Kacir |
|  | Its: | Chief Executive Officer |

---

**CERTIFICATE OF SIGNATORY**

(To be completed if Securities are being subscribed for by an entity)

I,<u> </u>, the<u> </u>

 ***(name of signatory****) **(title)***

 ****

Of<u> </u>("Entity"), a<u> </u>

***(name of entity) (type of entity)***

 ****

Organized under the laws of _____________, hereby certify that I am empowered and duly authorized by the Entity to execute the Subscription Agreement and to purchase the Securities, and certify further that the Subscription Agreement has been duly and validly executed on behalf of the Entity and constitutes a legal and binding obligation of the Entity.

IN WITNESS WHEREOF, I have set my hand this ___ day of _______________, 2022.

 ****

***(Signature)***

## Exhibit 10.15

**Exhibit 10.15**

**<u>Form of Note</u>**

**THIS NOTE HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THIS NOTE HAS BEEN SOLD IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.**

**RVeloCITY, INC.**

**10% PROMISSORY NOTE**

---

| | |
|:---|:---|
| **Issuance Date: _____________ __, 2022** | **Original Principal Amount: $_____________** |
| **Note No.___** |  |

---

FOR VALUE RECEIVED, **RVeloCITY Inc.**, a Delaware corporation ("RVeloCITY" or "RVnGO" the "<u>Maker</u>"), hereby promises to pay to the order of _______________________ (the "<u>Subscriber</u>"), or its registered assigns (together with the Subscriber, the "<u>Holder</u>"), the amount set out above as the Original Principal Amount, as reduced pursuant to the terms hereof pursuant to redemption, or otherwise (the "<u>Principal</u>"), when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest ("<u>Interest</u>") on any outstanding Principal at the applicable Interest Rate from the date set out above as the Issuance Date (the "<u>Issuance Date</u>") until the same becomes due and payable, upon the Maturity Date or acceleration, redemption or otherwise (in each case in accordance with the terms hereof).

The Original Principal Amount is ___________________________ Dollars ($____________). For purposes hereof, the term "<u>Outstanding Balance</u>" means the Original Principal Amount, as reduced or increased, as the case may be, pursuant to the terms hereof for breach hereof or otherwise, plus any accrued but unpaid interest, collection and enforcements costs, and any other fees or charges incurred under this Note.

This Note is being issued pursuant to the terms of a subscription agreement dated as of __________ __, 2022 between the Maker and the Subscriber and exhibits thereto (collectively, the "<u>Transaction Documents</u>"). Unless otherwise defined herein, all capitalized terms, when used in this Note, shall have the same meaning as they are defined in the Transaction Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. GENERAL TERMS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Payment of Principal</u>. The Outstanding Balance of this Note, including all accrued interest hereon at the Interest Rate, shall be due and payable on the earlier of the Company's completion of its IPO (as defined below) or October 31, 2025 <u>(the "Maturit</u>y Date"). "IPO" means an initial public offering of Maker's Common Stock and the listing or trading of its Common Stock on a national securities exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Interest</u>. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten percent (10%) (the "<u>Interest Rate</u>") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. EVENTS OF DEFAULT.

Whenever used herein, an "<u>Event of Default</u>" means the occurrence and continuation of any one of the following events, whatever the reason, and whether it shall be voluntary or involuntary, or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental body:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Maker's failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note; 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;(b) A material breach by RVeloCITY of any material representation, warranty or covenant contained in the Transaction Documents or a material breach by RVeloCITY of any material representation, warranty or covenant contained in the Transaction Documents, that, if capable of cure, is not cured within 30 days from the date such breach has occurred; 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;(c) The Maker or any subsidiary of the Maker shall commence, or there shall be commenced against the Maker or any subsidiary of the Maker under any applicable bankruptcy or insolvency laws as now or hereafter in effect or any successor thereto, or the Maker or any subsidiary of the Maker commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the Maker or any subsidiary of the Maker or there is commenced against the Maker or any subsidiary of the Maker any such bankruptcy, insolvency or other proceeding which remains undismissed for a period of ninety-one (91) days; or the Maker or any subsidiary of the Maker is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or the Maker or any subsidiary of the Maker suffers any appointment of any custodian, private or court appointed receiver or the like for it or any substantial part of its property which continues undischarged or unstayed for a period of ninety-one (91) days; or the Maker or any subsidiary of the Maker makes a general assignment for the benefit of creditors; or the Maker or any subsidiary of the Maker shall fail to pay, or shall state that it is unable to pay, or shall be unable to pay, its debts generally as they become due; or the Maker or any subsidiary of the Maker shall call a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts; or the Maker or any subsidiary of the Maker shall by any act or failure to act expressly indicate its consent to, approval of or acquiescence in any of the foregoing; or any corporate or other action is taken by the Maker or any subsidiary of the Maker for the purpose of effecting any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. PREPAYMENT. This Note may be prepaid by RVeloCITY without penalty or premium of any kind.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. REISSUANCE OF THIS NOTE.

Upon receipt by the Maker of evidence reasonably satisfactory to the Maker of the loss, theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Maker in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Maker shall execute and deliver to the Holder a new Note representing the outstanding Principal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. NOTICES. Any notices, consents, waivers or other communications required or permitted to be given under the terms shall be handled according to the Notice clause in the Subscription Agreement.

The addresses for such communications shall be:

If to the Maker:

Paul Kacir, CEO

RVeloCITY, Inc.

2801 E. Camelback Road, Suite 200

Phoenix, Arizona 85016

Email: paul.kacir@rvngo.com

If to the Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. APPLICABLE LAW AND VENUE. This Note shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to conflicts of laws principles thereof. Any action brought by either party against the other concerning the transactions contemplated by this Note shall be brought only in the state courts of Delaware that are located in Wilmington or in the federal courts located in Wilmington, in the State of Delaware. Both parties and the individuals signing this Note agree to submit to the jurisdiction of such courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. WAIVER. Any waiver by the Holder of a breach of any provision of this Note shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Holder to insist upon strict adherence to any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Note. Any waiver must be in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. MISCELLANEOUS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Lawful Money; Costs of Collection</u>. All amounts payable hereunder are payable in lawful money of the United States. RVeloCITY agrees to pay all costs of collection when incurred, including reasonable attorneys' fees and costs, whether or not a suit or action is instituted to enforce this Note, including but not limited to court costs, appraisal fees, the cost of searching records, obtaining title reports and title insurance and trustee's fees, to the extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>No Offset; Holder in Due Course</u>. All payments under this Note made by or on behalf of RVeloCITY shall be made without setoff or counterclaim and free and clear of, and without deduction or withholding for or on account of, any federal, state, or local taxes. RVeloCITY waives any right of offset it now has or may hereafter have against Agent or Holder and its successors and assigns as to this Note (but retains any such rights as to any other prior or future transaction between these parties), and agrees to make the payments called for hereunder in accordance with the terms hereof. The holder hereof and all successors thereof shall have all the rights of a holder in due course as provided in the Delaware Uniform Commercial Code and other laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Waivers</u>. RVeloCITY and any endorsers, guarantors or sureties hereof severally waive presentment and demand for payment, notice of intent to accelerate maturity, protest or notice of protest or nonpayment, bringing of suit and diligence in taking any action to collect any sums owing hereunder or in proceeding against any of the rights and properties securing payment hereunder; expressly agree that this Note, or any payment hereunder, may be extended from time to time; and consent to the acceptance of further security or the release of any security for this Note, all without in any way affecting the liability of RVeloCITY and any endorsers or guarantors hereof. No extension of time for the payment of this Note, or any installment hereof, made by agreement by the holder hereof with any person now or hereafter liable for the payment of this Note, shall affect the original liability under this Note of RVeloCITY, even if RVeloCITY (or any entity comprising RVeloCITY) is not a party to such agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Usury Protection</u>. The parties hereto intend to conform strictly to the applicable usury laws. In no event, regardless of any provisions contained therein or in any other document executed or delivered in connection herewith, shall the holder hereof ever be deemed to have contracted for or be entitled to receive, collect or apply as interest on this Note, any amount in excess of the maximum amount permitted by applicable law (the "<u>Maximum Rate</u>"). In no event, whether by reason of demand for payment, prepayment, acceleration of the maturity hereof or otherwise, shall the interest contracted for, charged or received by the holder hereunder or otherwise exceed the Maximum Rate. If for any circumstance whatsoever interest would otherwise be payable to the holder in excess of the maximum lawful amount, the interest payable to the holder shall be reduced automatically to the Maximum Rate and any payment received in excess of such amount shall be applied to the outstanding principal balance of the Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Entire Agreement</u>. This Note, the other Transaction Documents, and all other documents and instruments contemplated hereby and thereby together constitute the entire agreement between and among the parties pertaining to the subject matter hereof. No supplement, modification or amendment of this Note shall be binding unless executed in writing by the parties. No waiver shall be binding unless executed in writing by the party making the waiver. No provision of this Note shall be interpreted for or against the drafting party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Commercial Purpose.</u> RVeloCITY agrees that no funds advanced under this Note shall be used for personal, family or household purposes, and that all funds advanced hereunder shall be used solely for business, commercial, investment or other similar purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Successors and Assigns</u>. All the terms and provisions of this Note shall be binding upon and inure to the benefit of the parties to this Note and their respective successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Assignment</u>. RVeloCITY may not, voluntarily or involuntarily, directly or indirectly, by operation of law or otherwise, sell, transfer, assign, hypothecate, pledge or in any way alienate this Note or any right or interest in this Note (each a "<u>Transfer</u>") without Holder's prior written consent, which Holder may withhold in its sole and absolute discretion. Any consent by Holder to any Transfer shall not constitute consent to any other Transfer. Holder may freely Transfer its interest, rights, or title in or to this Note or the other Transaction Documents in Holder's sole and absolute discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Construction.</u> Whenever used in this Note, the terms "including," "include," "includes" and the like are not intended as terms of limitation, and, hence, shall be deemed to be followed by "without limitation."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Severability</u>. If any provision of this Note, as applied to any party or to any circumstance, shall be found by a court of competent jurisdiction to be void, invalid or unenforceable, the same shall in no way affect any other provision of this Note, the application of any such provision in any other circumstance, or the validity or enforceability of this Note, and any provision which is found to be void, invalid or unenforceable shall be curtailed and limited only to the extent necessary to bring such provision within the requirements of the law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Survival of Terms</u>. The terms and provisions of this Note shall survive the Maturity Date until full payment of all amounts due hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Preferential Payment</u>. If at any time any payment made pursuant to this Note is deemed to have been a voidable preference, fraudulent conveyance or other similar conveyance or preferential payment under any bankruptcy, insolvency or other debtor relief or similar law, then the obligation to make such payment shall survive any cancellation or satisfaction of this Note or return of this Note to RVeloCITY and shall not be discharged or satisfied with any such payment or cancellation. Such payment shall instead remain a valid and binding obligation enforceable in accordance with the terms of this Note and shall be immediately due and payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>Relief From Stay</u>. As an additional inducement to and material consideration for Holder agreeing to execute this Note and the other Transaction Documents, RVeloCITY agrees that in the event a Bankruptcy or Judicial Action (as hereinafter defined in this <u>Section 8(m)</u>) is commenced which subjects Holder to any stay in the exercise of Holder's rights and remedies under this Note or the other Transaction Documents, including, but not limited to, the automatic stay imposed by Section 362 of the United States Bankruptcy Code (individually and collectively, "<u>Stay</u>"), then RVeloCITY irrevocably consents and agrees that such Stay shall automatically be lifted and released against Holder, and Holder shall thereafter be entitled to exercise all of its rights and remedies against RVeloCITY that is or could be subject any Stay under this Note or the other Transaction Documents. Nothing contained herein shall limit or prevent Holder from exercising all of its rights and remedies against RVeloCITY that is not the subject any Stay under this Note or the other Transaction Documents. RVeloCITY acknowledges that it is knowingly, voluntarily, and intentionally waiving its rights to any Stay and agrees that the benefits provided to RVeloCITY under the terms of this Note are valuable consideration for such waiver. As used in this <u>Section 8(n)</u>, the term "<u>Bankruptcy or Judicial Action</u>" shall mean any voluntary or involuntary case filed by or against a RVeloCITY under the United States Bankruptcy Code, or any voluntary or involuntary petition in composition, readjustment, liquidation, or dissolution, or any state and federal bankruptcy law action filed by or against a RVeloCITY, any action where a RVeloCITY is adjudicated as bankrupt or insolvent, any action for dissolution of a RVeloCITY, or any action in furtherance of any of the foregoing, or any other action, case, or proceeding that has the effect of staying (or in which a stay is being obtained against) the enforcement by Holder of its rights and remedies under the this Note or the other Transaction Documents.

Except to enforce the terms of the Transaction Documents, RVeloCITY shall not take any action and shall not fail to take any action which such action or omission will or might tend to interfere with, delay, enjoin or otherwise prohibit the commencement, continuation or completion of efforts by Holder to enforce its remedies under this Note or the other Transaction Documents, or applicable law. Without limiting the generality of the foregoing and except to enforce the terms of the Transaction Documents, RVeloCITY waives its rights, if any, to seek or obtain a stay, injunction or other form of order prohibiting in any way any act necessary or appropriate for the commencement or completion of Holder's enforcement of its remedies under the this Note or the other Transaction Documents, or applicable law (without limiting the generality of the foregoing, such waiver extends to such rights which may exist under any statute or rule relating to bankruptcy cases, including, without limitation, 11 U.S.C. § 105, 11 U.S.C. § 301, 11 U.S.C. § 302, 11 U.S.C. § 303, 11 U.S.C. § 304, 11 U.S.C. § 362, 11 U.S.C. § 348, 11 U.S.C. § 706, 28 U.S.C. §157, 28 U.S.C. § 158, Federal Rule of bankruptcy Procedure ("FRBP") 3007, FRBP 3008, FRBP 3012, FRBP 8005, FRBP 9023, FRBP 9024, or FRBP 9029).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. AMENDMENT AND WAIVER OF RIGHTS. This Note may be amended and the observance of any term hereof may be waived (either generally or in a particular instance either retroactively or prospectively) only by a written instrument executed by the Maker and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. WAIVER OF RIGHT TO TRIAL BY JURY.

EACH PARTY TO THIS NOTE HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (1) ARISING UNDER THIS NOTE, THE OTHER TRANSACTION DOCUMENTS, OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION THEREWITH, OR (2) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS NOTE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY. THE PARTIES HERETO HEREBY AGREE THAT THE PROVISIONS CONTAINED HEREIN HAVE BEEN FAIRLY NEGOTIATED ON AN ARM'S-LENGTH BASIS, WITH BOTH SIDES AGREEING TO THE SAME KNOWINGLY AND BEING AFFORDED THE OPPORTUNITY TO HAVE THEIR RESPECTIVE LEGAL COUNSEL CONSENT TO THE MATTERS CONTAINED HEREIN. ANY PARTY TO THIS NOTE MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY AND THE AGREEMENTS CONTAINED HEREIN REGARDING THE APPLICATION OF JUDICIAL REFERENCE IN THE EVENT OF THE INVALIDITY OF SUCH JURY TRIAL WAIVER.

IN WITNESS WHEREOF, the Maker has caused this Note to be duly executed by a duly authorized officer as of the date set forth above.

---

| | |
|:---|:---|
|  | RVeloCITY, Inc. |
| By: |  |
| Name: | Paul Kacir |
| Title: | Chief Executive Officer |

---

Note No. [ ]

## Exhibit 10.16

**Exhibit 10.16**

NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

**COMMON STOCK PURCHASE WARRANT**

**RVeloCITY INC.**

Warrant No. W_____ Issue Date: October _____, 2022

THIS COMMON STOCK PURCHASE WARRANT (the "***Warrant***") certifies that, for value received, ____________________ or any registered assigns (the "***Holder***") is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time following the Issue Date (the "***Initial Exercise Date***") and on or prior to the close of business on____________________, **2027**<sup>1</sup> (the "***Termination Date***") but not thereafter, to subscribe for and purchase from **RVeloCITY Inc**., a Delaware corporation (the "***Company***"), up to 2,000,000 shares of Common Stock (the "***Warrant Shares***"). The purchase price of one share of Common Stock under this Warrant shall be $2.50 or 50% of the IPO price, whichever is lower.

<u>Section 1.</u> <u>Definitions</u>. For the purposes hereof, in addition to the terms defined elsewhere in this Warrant, (a) capitalized terms not otherwise defined herein shall have the meanings set forth in the Subscription Agreement entered into by the Company and the Holder of even day herewith and (b) the following terms shall have the following meanings:

"***Business Day***" means any day except any Saturday, any Sunday, any day which shall be a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

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

"***Exercise Period***" shall have the meaning as that term is defined in <u>Section 2(a)</u> below.

<sup>1</sup>Five years from the Issue Date

"***Person***" means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

"***Securities Act***" means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

"***Trading Day***" means a day on which the New York Stock Exchange is open for business.

"***Trading Market***" means the following markets or exchanges on which the Common Stock may be listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York Stock Exchange.

<u>Section 2.</u> <u>Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Exercise of Warrant</u>. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date (the "***Exercise Period***") by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed notice of exercise ("***Notice of Exercise***") form attached hereto as Exhibit C-1; and, within three (3) Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier's check drawn on a United States bank. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. In the event of any dispute or discrepancy, the records of the Company shall be controlling and determinative in the absence of manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Exercise Price</u>. The exercise price per share of the Common Stock under this Warrant shall be equal to $2.50, of 50% of the IPO price, whichever is lower, subject to adjustment as provided for 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;c) <u>Mechanics of Exercise</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Delivery of Warrant Shares Upon Exercise</u>. Certificates for shares purchased hereunder shall be transmitted by the Company's transfer agent (the "***Transfer Agent***") to the Holder by crediting the account of the Holder's prime broker with the Depository Trust Company through its Deposit Withdrawal Agent Commission ("***DWAC***") system if the Company is then a participant in such system and either (A) there is a registration statement permitting the resale of the Warrant Shares by the Holder or (B) the shares are eligible for resale without volume or manner-of-sale limitations pursuant to Rule 144, and otherwise by physical delivery of certificates to the address specified by the Holder in the Notice of Exercise within four (4) Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant (if required) and payment of the aggregate Exercise Price as set forth above (the "***Warrant Share Delivery Date***"). This Warrant shall be deemed to have been exercised on the date the Exercise Price is received by the Company. The Warrant Shares shall be deemed to have been issued, and Holder or any other Person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company of the Exercise Price and all taxes required to be paid by the Holder, if any, prior to the issuance of such shares, have been paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Delivery of Warrants Upon Exercise</u>. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. <u>Rescission Rights</u>. If the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or the certificates representing the Warrant Shares pursuant to <u>Section 2(c)(i)</u> by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. <u>No Fractional Shares or Scrip</u>. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. <u>Charges, Taxes and Expenses</u>. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; <u>provided</u>, <u>however</u>, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the assignment form ("***Assignment Form***") attached hereto as Exhibit C-2 duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi. <u>Closing of Books</u>. The Company will not close its shareholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

<u>Section 3.</u> <u>Certain Adjustments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Stock Dividends and Splits</u>. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any Warrant Shares issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this <u>Section 3(a)</u> shall become effective immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Calculations</u>. All calculations under this <u>Section 4</u> shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this <u>Section 4</u>, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) <u>Notice to Holder</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Adjustment to Exercise Price</u>. Whenever the Exercise Price is adjusted pursuant to any provision of this <u>Section 3</u>, the Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Notice to Allow Exercise by Holder</u>. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, of any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice. The Holder is entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice.

<u>Section 4.</u> <u>Transfer of Warrant</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Transferability</u>. This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. The Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Warrants</u>. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with <u>Section 4(a)</u>, as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial Exercise Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) <u>Warrant Register</u>. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the "***Warrant Register***"), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

<u>Section 5.</u> <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>No Rights as Shareholder Until Exercise</u>. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Loss, Theft, Destruction or Mutilation of Warrant</u>. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) <u>Saturdays, Sundays, Holidays, etc</u>. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) <u>Authorized Shares</u>.

The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock one hundred (100%) of the number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. In case such amount of Common Stock is insufficient at any time, the Company shall call and hold a special meeting to increase the number of authorized shares of common stock. Management of the Company shall recommend to shareholders to vote in favor of increasing the number of authorized shares of common stock.

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its amended and restated certificate of incorporation, as amended, or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) <u>Jurisdiction</u>. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to conflicts of laws principles thereof. Any action brought by either party against the other concerning the transactions contemplated by this Warrant shall be brought only in the state courts of Delaware that are located in Wilmington or in the federal courts located in Wilmington, in the State of Delaware. Both parties and the individuals signing this Warrant agree to submit to the jurisdiction of such courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) <u>Restrictions</u>. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g) <u>Nonwaiver and Expenses</u>. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice Holder's rights, powers or remedies, notwithstanding the fact that all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys' fees, including those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h) <u>Notices</u>. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the addresses provided by the Holder of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) <u>Limitation of Liability</u>. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j) <u>Remedies</u>. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k) <u>Successors and Assigns</u>. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l) <u>Amendment</u>. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m) <u>Severability</u>. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n) <u>Headings</u>. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

[Signature Page Follows.]

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

---

| | |
|:---|:---|
| **RVeloCITY INC.** | **RVeloCITY INC.** |
| By: |  |
| Name: | Paul Kacir |
| Title: | Chief Executive Officer |

---

<u>EXHIBIT C-1</u>

**NOTICE OF EXERCISE**

TO:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The undersigned hereby elects to purchase _______________ Warrant Shares of the Company pursuant to the terms of the attached Warrant and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is specified below:

The Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) <u>Accredited Investor</u>. The undersigned is an "accredited investor" as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

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| |
|:---|
| [SIGNATURE OF HOLDER] |
| Name of Investing Entity: |
| *Signature of Authorized Signatory of Investing Entity*: |
| Name of Authorized Signatory: |
| Title of Authorized Signatory: |
| Date: |
| <u> </u> |

---

<u>EXHIBIT C-2</u>

**ASSIGNMENT FORM**

(To assign the foregoing warrant, execute<br> this form and supply required information. Do<br> not use this form to exercise the warrant.)

FOR VALUE RECEIVED, [_____] all of or [_____] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to

__________________________________________ whose address is

__________________________________________.

__________________________________________

Dated: ________________________<u>__</u>,<u> </u>___

Holder's Signature: ____________________________________

Holder's Address: _____________________________________

_____________________________________

Signature Guaranteed: ______________________________

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

## Exhibit 21.1

**Exhibit 21.1**

**Subsidiaries of the Registrant**

---

| | |
|:---|:---|
| **Entity Name** | **State of Incorporation** |
| Peerage Holdings, Inc. | Arizona |
| Peerage Agency, Inc. | Arizona |

---

## Exhibit 23.1

**Exhibit 23.1**

<u>Consent of Independent Registered Public Accounting Firm</u>

RVeloCITY, Inc.

Phoenix, Arizona

We hereby consent to the use in the Prospectus constituting a part of this Registration Statement on Form S-1 of our report dated May 12, 2022, relating to the financial statements and schedule of RVeloCITY, Inc. dba RVnGO, which is contained in that Prospectus.

We also consent to the reference to us under the caption "Experts" in the Prospectus.

/s/ Semple, Marchal & Cooper, LLP

Phoenix, Arizona

January 13, 2023

## Ex-Filing

**Exhibit 107**

**CALCULATION OF FILING FEE TABLES**

Form S-1

**(Form Type)**

RVeloCITY, Inc.

**(Exact Name of Registrant as Specified in its Charter)**

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** | **Table 1—Newly Registered and Carry Forward Securities** |
|  | **Security Type** | **Security Class Title** | **Fee Calculation or Carry Forward Rule** | **Amount Registered** | **Proposed Maximum Offering Price Per Unit** |  | **Maximum Aggregate Offering Price** |  | **Fee Rate** | **Amount of Registration Fee** |  | **Carry Forward Form Type** | **Carry Forward File Number** | **Carry Forward Initial effective date** | **Filing Fee Previously Paid In Connection with Unsold Securities to be Carried Forward** |
| **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** |
| **Fees to Be Paid** | Equity | Class A common stock, par value $0.0001 per share ("Class A Common Stock"), to be sold by the registrant | 457 (o) |  |  |  | $10000000 | (1)(2) | 0.00011020 | $1102.00 |  |  |  |  |  |
|  | Equity | Underwriter Warrants(3) | Other(4) |  |  |  |  |  |  |  | (5) |  |  |  |  |
|  | Equity | Class A Common Stock issuable upon exercise of Underwriter Warrants(3) | Other(4) |  |  |  | $700000 | (6) | 0.00011020 | $77.14 |  |  |  |  |  |
|  | Equity | Class A Common Stock to be sold by the selling stockholders(7) | 457 (o) |  |  |  | $5000000 | (1) | 0.00011020 | $551.00 |  |  |  |  |  |
|  | Equity | Class A Common Stock issuable upon exercise of Bridge Warrants to be sold by the selling stockholders (7) | Other(4) | 700000 | $2.50 | (8) | $1750000 |  | 0.00011020 | $192.85 |  |  |  |  |  |
| **Fees Previously Paid** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** | **Carry Forward Securities** |
| **Carry Forward Securities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  |  | $17450000 |  |  | $1922.99 |  |  |  |  |  |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  |  |  | $0 |  |  |  |  |  |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  |  |  | $0 |  |  |  |  |  |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  |  |  | $1922.99 |  |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated
 solely for the purpose of calculating the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended (the
 "Securities Act").

&nbsp;&nbsp;&nbsp;&nbsp;(2) Includes
 the aggregate offering price of additional shares that the underwriters have the option to purchase to cover over-allotments, if
 any.

(3) The
 registrant has agreed to issue to the representative of the underwriters in this public offering of the registrant warrants to purchase
 such number of shares of Class A Common Stock (the "Underwriter Warrants") representing an aggregate of 7% of the aggregate
 number of the shares sold in this offering (including shares issuable upon exercise of the underwriters' over-allotment option)
 at an exercise price equal to 100% of the offering price of the shares sold in this offering.

(4) Calculated
 pursuant to Rule 457(g) under the Securities Act.

(5) No
 separate registration fee required pursuant to Rule 457(g) under the Securities Act.

(6) Estimated
 solely for the purpose of calculating the registration fee pursuant to Rule 457(g) under the Securities Act. The proposed maximum
 aggregate offering price of the Underwriter Warrants is $700,000, which is equal to 7% of $10,000,000 (the maximum aggregate offering
 price for this public offering of the registrant).

(7) The
 registration statement also covers the resale by certain selling stockholders as named in the registration statement of (i) shares
 of Class A Common Stock previously issued to such selling stockholders and (ii) shares of Class A common stock issuable upon the
 exercise of certain warrants (the "Bridge Warrants") previously issued to such selling stockholders as described in the
 registration statement.

(8) The
 Bridge Warrants have an exercise price equal to the lower of $2.50 or 50% of the price of the Class A Common Stock sold in this public
 offering of the registrant.