# EDGAR Filing Document

**Accession Number:** 0001905443
**File Stem:** 0001185185-23-000052
**Filing Date:** 2023-1
**Character Count:** 139670
**Document Hash:** c5b1fa08edae5f1e47763f0c9fee5a9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001185185-23-000052.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001185185-23-000052

**CONFORMED SUBMISSION TYPE**: C

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aurox Holdings Inc.
- **CENTRAL INDEX KEY:** 0001905443
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **IRS NUMBER:** 873769850
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** C
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-31650
- **FILM NUMBER:** 23540288

**BUSINESS ADDRESS:**
- **STREET 1:** 800 NEW HOPE ROAD
- **CITY:** CROSSROADS
- **STATE:** TX
- **ZIP:** 76227
- **BUSINESS PHONE:** 2146363987

**MAIL ADDRESS:**
- **STREET 1:** 800 NEW HOPE ROAD
- **CITY:** CROSSROADS
- **STATE:** TX
- **ZIP:** 76227

### Attached PDF Documents

**Attachment 1:** `auroxformc.pdf`

The company contracts some developers who are employed by Adtelligence, but pays such individuals directly. Thus, the Company does not currently and does not anticipate in the future making payments to Adtelligence.

We have adopted a policy that any transactions with directors, officers or entities of which they are also officers or directors or in which they have a financial interest, will only be on terms consistent with industry standards and approved by a majority of the disinterested directors of the Board of Directors and based upon a determination that these transactions are on terms no less favorable to us than those which could be obtained by unaffiliated third parties. This policy could be terminated in the future. In addition, interested directors may be counted in determining the presence of a quorum at a meeting of the Board of Directors or a committee thereof which approves such a transaction.

46

## RECENT OFFERINGS OF SECURITIES

We have made the following issuances of securities since April 1, 2022, which is the first day of the company’s fiscal year:

- In April 2022, the company received cash proceeds of $175,000 for the sale of 87,500 shares of common stock at a price of $2.00 per share in reliance on Rule 506(b) of Regulation D under Section 4(a)(2) of the Securities Act of 1933. These shares were the remaining shares sold during the company’s Regulation D offering that are detailed in the notes to the audited financial statements for year ended March 31, 2022. The 87,500 shares of common stock brought the total amount issued to 2,500,000 shares and the total amount raised to $5,000,000. These proceeds were used for general business purposes.

47

## SECURITIES BEING OFFERED AND RIGHTS OF THE SECURITIES OF THE COMPANY

*The following descriptions summarize important terms of our capital stock. This summary reflects Aurox Holdings' Amended and Restated Certificate of Incorporation and does not purport to be complete and is qualified in its entirety by the Amended and Restated Certificate of Incorporation and its Bylaws. For a complete description the company's capital stock, you should refer to the company's Amended and Restated Certificate of Incorporation and Bylaws and applicable provisions in accordance with Title 7 of Nevada Revised Statutes.*

### General

The company's authorized securities consist of up to 90,000,000 shares of voting Common Stock, 10,000,000 shares of Preferred Stock, of which 10 shares have been designated as Series X Preferred Stock. As of December 31, 2022, there were 12,500,000 shares of voting Common Stock outstanding and 3 shares of voting Series X Preferred Stock outstanding. For this Regulation CF offering, the company is issuing voting Common Stock at $6.00 per share.

The differences between the 2,500,000 shares of Common Stock previously sold by the company through its private placement which closed in April 2022 and the Common Stock being offered are detailed in the table below:

| 2,500,000 Shares of Common Stock Previously Sold to Investors | Common Stock being offered in this Regulation CF |
| --- | --- |
| Investors shall have the right to lead a subsequent $10,000,000 financing. | This right is not granted to the investors of the Regulation CF offering. |
| Liquidity Event Contingency and Repurchase Request: Within twelve (12) months from the last Closing (dated April 30, 2022), the company shall use reasonable efforts to be publicly listed and have obtained an effective registration statement for the resale of the Investors' shares of Common Stock. In the event that the company is unwilling to effect the Going Public Event within 18 months of the Last Closing, then upon request from the undersigned, the company shall repurchase the undersigned's Securities offered in this Offering at a 30% premium to the Subscription Amount paid by the undersigned (the 'Repurchase Request'); provided, however, that the Repurchase Request must be made prior to the 19-month anniversary from the Last Closing or else such Repurchase Request shall be forfeited by the undersigned. | This right is not granted to the investors of the Regulation CF offering. |
| Lock-Up Insiders: Insiders, officers, and affiliates agree to be locked up and not sell any shares (or any other equivalent transaction) for 12 months after closing. | This right is not granted to the investors of the Regulation CF offering. |
| Anti-Dilution: The shares of Common Stock will be subject to price protection. | This right is not granted to the investors of the Regulation CF offering. |
| Right of First Refusal: The investors will have a Right of First Refusal on any offering of securities or financing for 12 months after Closing. | This right is not granted to the investors of the Regulation CF offering. |

48

## **Common Stock**

Holders of our Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders, and do not have cumulative voting rights. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of Common Stock are entitled to receive ratably such dividends, if any, as may be declared from time to time by our Board of Directors out of funds legally available for dividend payments. All outstanding shares of Common Stock are fully paid and non-assessable, and the shares of Common Stock to be issued upon completion of this offering will be fully paid and non-assessable. The holders of Common Stock have no preferences or rights of cumulative voting, conversion, or pre-emptive or other subscription rights. There are no redemption or sinking fund provisions applicable to the Common Stock. In the event of any liquidation, dissolution or winding-up of our affairs, holders of Common Stock will be entitled to share ratably in any of our assets remaining after payment or provision for payment of all of our debts and obligations and after liquidation payments to holders of outstanding shares of preferred stock, if any.

## **Preferred Stock**

The current amended and restated certificate authorizes the Company to issue 10,000,000 shares of Preferred Stock.

The Company has designated ten (10) shares of its Series X Preferred Stock, of which three (3) shares have been issued, one to each of the Company's Founders. The Series X Preferred Stock is not convertible and does not provide the holder with any equity interest in the Company. The Series X Preferred Stock entitles each of the Founders the rights to vote to the extent of ten times (10x) of the Common Stock that they each own at any general or special meeting of shareholders.

Our Board of Directors has the authority, without further stockholder authorization, to issue from time to time shares of preferred stock in one or more series and to fix the terms, limitations, relative rights and preferences and variations of each series. Although we have no present plans to issue additional shares of preferred stock, the issuance of shares of preferred stock, or the issuance of rights to purchase such shares, could decrease the amount of earnings and assets available for distribution to the holders of Common Stock, could adversely affect the rights and powers, including voting rights, of the Common Stock, and could have the effect of delaying, deterring or preventing a change of control of us or an unsolicited acquisition proposal.

## **What it Means to be a Minority Holder**

As an investor in this round of Common stock of the company, you will not have any rights in regard to the corporate actions of the company, including additional issuances of securities, company repurchases of securities, a sale of the company or its significant assets, or company transactions with related parties.

## **Transferability of Securities**

For a year, the securities can only be resold:

- In an IPO or other public offering registered with the SEC;
- To the company;
- To an accredited investor; and
- To a member of the family of the purchaser or the equivalent, to a trust controlled by the purchaser, to a trust created for the benefit of a member of the family of the purchaser or the equivalent, or in connection with the death or divorce of the purchaser or other similar circumstance.

49

### **Transfer Agent**

The company has selected VStock, an SEC-registered securities transfer agent, to act as its transfer agent. They will be responsible for keeping track of who owns the company's securities.

50

## DILUTION AND ANTI-DILUTION

The shares of Common Stock purchased by investors during the Regulation D offering are subject to price protection.

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

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

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

- In June 2020 Jane invests $20,000 for shares that represent 2% of a company valued at $1 million.
- In December, the company is doing very well and sells $5 million in shares to venture capitalists on a valuation (before the new investment) of $10 million. Jane now owns only 1.3% of the company but her stake is worth $200,000.
- In June 2021, the company has run into serious problems and in order to stay afloat it raises $1 million at a valuation of only $2 million (the "down round"). Jane now owns only 0.89% of the company and her stake is worth only $26,660.

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

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

### Valuation

*Pre-money valuation:* $75,000,000.

*Valuation details:* The valuation was decided based on competitor analysis, projections of revenue, the state of the company, previous round raise and the value of the strategic investors participating in the corporate development.

As discussed in "Dilution" above, the valuation of the company will determine the amount by which the investor's stake is diluted in the future. An early-stage company typically sells its shares (or grants options over its shares) to its

51

founders and early employees at a very low cash cost because they are, in effect, putting their “sweat equity” into the company. When the company seeks cash investments from outside investors, like you, the new investors typically pay a much larger sum for their shares than the founders or earlier investors, which means that the cash value of your stake is immediately diluted because each share of the same type is worth the same amount, and you paid more for your shares than earlier investors did for theirs.

There are several ways to value a company, and none of them is perfect and all of them involve a certain amount of guesswork. The same method can produce a different valuation if used by a different person.

*Liquidation Value* - The amount for which the assets of the company can be sold, minus the liabilities owed, e.g., the assets of a bakery include the cake mixers, ingredients, baking tins, etc. The liabilities of a bakery include the cost of rent or mortgage on the bakery. However, this value does not reflect the potential value of a business, e.g., the value of the secret recipe. The value for most startups lies in their potential, as many early-stage companies do not have many assets (they probably need to raise funds through a securities offering in order to purchase some equipment).

*Book Value* - This is based on analysis of the company’s financial statements, usually looking at the company’s balance sheet as prepared by its accountants. However, the balance sheet only looks at costs (i.e., what was paid for the asset), and does not consider whether the asset has increased in value over time. In addition, some intangible assets, such as patents, trademarks or trade names, are very valuable but are not usually represented at their market value on the balance sheet.

*Earnings Approach* - This is based on what the investor will pay (the present value) for what the investor expects to obtain in the future (the future return), taking into account inflation, the lost opportunity to participate in other investments, the risk of not receiving the return. However, predictions of the future are uncertain, and valuation of future returns is a best guess.

Different methods of valuation produce a different answer as to what your investment is worth. Typically, liquidation value and book value will produce a lower valuation than the earnings approach. However, the earnings approach is also most likely to be risky as it is based on many assumptions about the future, while the liquidation value and book value are much more conservative.

Future investors (including people seeking to acquire the company) may value the company differently. They may use a different valuation method, or different assumptions about the company’s business and its market. Different valuations may mean that the value assigned to your investment changes. It frequently happens that when a large institutional investor such as a venture capitalist makes an investment in a company, it values the company at a lower price than the initial investors did. If this happens, the value of the investment will go down.

### **How we determined the offering price**

The offering price for our current offering was determined internally.

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# REGULATORY INFORMATION

Disqualification

Neither the company, nor any of its officers or managing members are disqualified from relying on Regulation Crowdfunding.

Annual reports

The company has not filed annual reports to date. Any annual reports will be posted on the company's investor relations page located at https://investors.getaurox.com

Compliance failure

The company has not previously failed to comply with the requirements of Regulation Crowdfunding.

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# INVESTING PROCESS

## Information Regarding Length of Time of Offering

*Investment Cancellations:* Investors will have up to 48 hours prior to the Termination Date to change their minds and cancel their investment commitments for any reason. Once the offering period is within 48 hours of ending, investors will not be able to cancel for any reason, even if they make a commitment during this period.

*Notifications:* Investors will receive periodic notifications regarding certain events pertaining to this offering, such as the company reaching its offering target, the company making an early closing, the company making material changes to its Form C, and the offering closing at its target date.

*Material Changes:* Material changes to an offering include but are not limited to:

A change in minimum offering amount, change in security price, change in management, etc. If an issuing company makes a material change to the offering terms or other information disclosed, investors will be given five business days to reconfirm their investment commitment. If investors do not reconfirm, their investment will be cancelled, and the funds will be returned.

*Rolling and Early Closings:* The company may elect to undertake rolling closings, or an early closing after it has received investment interests for its target offering amount. During a rolling closing, those investors that have committed funds will be provided five days' notice prior to acceptance of their subscriptions, release of funds to the company, and issuance of securities to the investors. During this time, the company may continue soliciting investors and receiving additional investment commitments. Investors should note that if investors have already received their securities, they will not be required to reconfirm upon the filing of a material amendment to the Form C. In an early closing, the offering will terminate upon the new target date, which must be at least five days from the date of the notice.

*Closings Generally.* Upon receipt of the Target Amount in escrow, held with tZero ATS as escrow agent, investor funds will be disbursed to the company, and securities shall be disbursed to investors, following release from escrow held at the intermediary.

*Credit Card Payments.* Investors using a credit card to invest must represent and warrant to cancel any investment commitment(s) by submitting a request through the Intermediary at least 48 hours prior to the Offering Deadline, instead of attempting to claim fraud or claw back their committed funds. If the investor does not cancel an investment commitment before the 48-hour period prior to the Offering Deadline, the funds will be released to the Issuer and the investor will receive their Securities.

## Investor Limitations

Investors are limited in how much they can invest on all crowdfunding offerings during any 12-month period. The limitation on how much they can invest depends on their net worth (excluding the value of their primary residence) and annual income. If either their annual income or net worth is less than $124,000, then during any 12-month period, they can invest up to the greater of either $2,500 or 5% of the greater of their annual income or Net worth. If both their annual income and net worth are equal to or more than $124,000, then during any 12-month period, they can invest up to 10% of annual income or net worth, whichever is greater, but their investments cannot exceed $124,000. If the investor is an 'accredited investor' as defined under Rule 501 of Regulation D under the Securities Act, as amended, no investment limits apply.

## Updates

Information regarding updates to the offering and to subscribe can be found here:

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## Defined Terms

*Unless the context otherwise requires, references in this document to “we,” “us,” “our,” the “Registrant”, the “Company,” “Aurox” and “Aurox Holdings” refer to Aurox Holdings Inc. and its subsidiaries.*

In addition, unless the context otherwise requires:

“Blockchain” is a cryptographically secure digital ledger that maintains a record of all transactions that occur on the network and follows a consensus protocol for confirming new blocks to be added to the Blockchain.

“crypto” is a broad term for any cryptography-based market, system, application, or decentralized network.

“crypto asset (or ‘token’)” refers to any digital asset built using Blockchain technology, including cryptocurrencies, stablecoins, and security tokens.

“cryptocurrency” refers to Bitcoin and alternative coins, or ‘altcoins’, launched after the success of Bitcoin. This category of crypto asset is designed to work as a medium of exchange, store of value, or to power applications and excludes security tokens.

“cryptoeconomy” is a new open financial system built upon crypto.

“DAOs” is short for to Decentralized autonomous organizations, which enable on-chain digital collaboration for any endeavor, from an informal club to a corporation and even a digital country.

“DeFi” is short for Decentralized Finance. Peer-to-peer software-based network of protocols that can be used to facilitate traditional financial services like borrowing, lending, trading derivatives, insurance, and more through smart contracts.

“DEX” is short for a Decentralized Exchange, a type of exchange that allows peer-to-peer transactions directly between digital wallets without the use of intermediaries.

“Ethereum” is a decentralized global computing platform that supports smart contract transactions and peer-to-peer applications, or “Ether,” the native crypto assets on the Ethereum network.

“EVM” refers to Ethereum Virtual Machine, a piece of software that executes smart contracts and computes the state of the Ethereum network after each new block is added to the Blockchain.

“Exchange Act” refers to the Securities Exchange Act of 1934, as amended.

“Founders” refers to Giorgi Khazaradze, Taras Motsnyy, and Ziga Naglic.

“NFT” A Non-Fungible Token is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a Blockchain, and that is used to certify authenticity and ownership.

“Non-custodial” refers to a type of crypto wallet wherein the individual user has sole control of all keys and information that controls the cryptocurrency within the wallet, instead of a “custodial” wallet, where a third-party, such as the exchange, has access to all keys and information as well.

“Pair” refers to assets that can be traded for each other on a specific exchange.

“Proprietary Indicators” refers to: (i) the Aurox Indicator, the company’s original indicator developed based on specific data points; (ii) the Aurox AI (Artificial Intelligence) Indicator, the Aurox Indicator with an optimized AI engine; (iii) the Directional Moving Indicator, an algorithm; and (iv) the Demand Index. These Indicators are Aurox’s tools that provide technical analysis to assist users in predicting the price movement of crypto assets with greater accuracy.

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“Protocol” refers to a type of smart contract software deployed on the Blockchain that serves a specific function.

“SEC” or the “Commission” refers to the United States Securities and Exchange Commission.

“Securities Act” refers to the Securities Act of 1933, as amended.

“Smart contract” Software that digitally facilitates or enforces a rules-based agreement or terms between transacting parties.

“Trading Platform” refers to a platform through which you can buy, sell, transfer, trade, or exchange cryptocurrencies.

“UI” refers to User Interface.

“Wallet” A place to store public and private keys for crypto assets. Wallets are typically software, hardware, or paper-based, and can be custodial or non-custodial.

“Wallet user” A retail user who has established an account with a private key on our non-custodial software-based product.

“Web3” is the new iteration of the “World Wide Web,” focused on enhancing the Internet with additional decentralization, privacy, security, and machine learning.

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# EXHIBIT B

## FINANCIAL STATEMENTS

![img-0.jpeg](img-0.jpeg)

805 Third Avenue  
Suite 1430  
New York, NY 10022

212.838.5100  
212.838.2676/Fax

www.rbsmllp.com

### REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of

Aurox Holdings, Inc.

#### Opinion on the Financial Statements

We have audited the accompanying balance sheets of Aurox Holdings, Inc. (the “Company”) as of March 31, 2022, and the related statements of operations, stockholders’ equity, and cash flows for the period from November 30, 2021 (Inception) through March 31, 2022, and the related notes and schedules (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 March 31, 2022, and the results of its operations and its cash flows for the period from November 30, 2021 (Inception) through March 31, 2022, in conformity with accounting principles generally accepted in the United States of America.

#### Substantial doubt about the Company’s Ability to Continue as a Going Concern

The accompanying financial statements have been prepared to assume that the Company will continue as a going concern. As discussed in Note 2 to the accompanying financial statements, the Company must raise significant funds in order to pay its outstanding debt and meet its other obligations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s evaluation of the events and conditions and management’s plans regarding these matters are also described in Note 2. 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 audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our 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.

B-1

RBSM LLP

This is our first year to serve as the Company’s auditor.

New York, NY

August 26, 2022

PCAOB ID Number 587

B-2

# **AUROX HOLDINGS INC.**
**BALANCE SHEETS**

|  | March 31, 2022 |
| --- | --- |
| ASSETS |  |
| Current assets |  |
| Cash | $3,888,185 |
| Prepaid expenses | 9,106 |
| Total Current Assets | 3,897,291 |
| Intangible assets - digital currency | 13,043 |
| Intangible assets - capitalized software | 751,011 |
| Total intangible assets | 764,054 |
| Total Assets | 4,661,345 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |  |
| Current liabilities |  |
| Accounts payable and accrued liabilities | 219,768 |
| Accrued liability - software license, related party | 90,000 |
| Total current liabilities | 309,768 |
| Total liabilities | 309,768 |
| Stockholders' equity (deficit) |  |
| Preferred stock, $0.01 par value, 10,000,000 shares authorized, 10,000,000 shares designated Series X, 3 shares issued and outstanding at March 31, 2022 | - |
| Common stock, $0.01 par value, 90,000,000 shares authorized, 10,000,000 shares issued and outstanding at March 31, 2022 | 100,000 |
| Common stock subscribed | 4,825,000 |
| Additional paid-in capital | - |
| Accumulated deficit | (573,423) |
| Total stockholders' equity | 4,351,577 |
| Total liabilities and stockholders' equity | $4,661,345 |

*The accompanying notes form an integral part of these financial statements.*

B-3

# **AUROX HOLDINGS INC.**
**STATEMENT OF OPERATIONS**

|  | For the period from November 30, 2021 (inception) through March 31, 2022 |
| --- | --- |
| Operating expenses: |  |
| General and administrative | $473,423 |
| Total operating expenses | 473,423 |
| Loss from operations | (473,423) |
| Income (loss) before provision for income taxes | (473,423) |
| Provision for income taxes | - |
| Net income (loss) | $(473,423) |
| Net loss per share - basic and diluted | $(0.05) |
| Weighted average shares outstanding - basic and diluted | 10,000,000 |

*The accompanying notes form an integral part of these financial statements.*

B-4

# **AUROX HOLDINGS INC.**  
 **STATEMENT OF STOCKHOLDERS' DEFICIENCY**  
 **FOR THE PERIOD FROM INCEPTION (NOVEMBER 30, 2021) TO MARCH 31, 2022**

|  | Preferred Stock |  | Common Stock |  | Common Stock Subscribed | Additional Paid-In Capital | Accumulated Deficit | Total Stockholder's Equity |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Shares | Amount | Shares | Amount |  |  |  |  |
| Balance, November 30, 2021 (inception) | - | $ - | - | $ - | $ - | $ - | $ - | $ - |
| Common stock issued to founders | - | - | 10,000,000 | 100,000 | - | - | (100,000) | - |
| Series X Preferred Stock issued to founders | 3 | - | - | - | - | - | - | - |
| Common stock issued for cash | - | - | - | - | 4,825,000 | - | - | 4,825,000 |
| Net loss | - | - | - | - | - | - | (473,423) | (473,423) |
| Balance, March 31, 2022 | 3 | $ - | 10,000,000 | $100,000 | $4,825,000 | $ - | $(573,423) | $4,351,577 |

*The accompanying notes form an integral part of these financial statements.*

B-5

# **AUROX HOLDINGS INC.**
**STATEMENTS OF CASH FLOWS**

|  | For the period from November 30, 2021 (inception) through March 31, 2022 |
| --- | --- |
| CASH FLOWS FROM OPERATING ACTIVITIES |  |
| Net income (loss) | $(473,423) |
| Adjustments to reconcile net loss to net cash used in operating activities: |  |
| Changes in assets and liabilities: |  |
| Prepaid expenses | (9,106) |
| Digital currency | (13,043) |
| Accounts payable | 219,768 |
| Net cash used in operating activities | (275,804) |
| CASH FLOWS FROM INVESTING ACTIVITIES |  |
| Cash paid for software license | (20,000) |
| Cash paid for software development | (641,011) |
| Net cash used in investing activities | (661,011) |
| CASH FLOWS FROM FINANCING ACTIVITIES |  |
| Common stock issued for cash | 4,825,000 |
| Net cash provided by financing activities | 4,825,000 |
| Net increase in cash | 3,888,185 |
| Cash and cash equivalents at beginning of period | - |
| Cash and cash equivalents at end of period | $3,888,185 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: |  |
| Interest paid | $ - |
| Income taxes paid | $ - |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: |  |
| Issuance of 3 shares of Series X Preferred Stock - related parties | $ - |
| Capitalized software license and liability, related party | $110,000 |

*The accompanying notes form an integral part of these financial statements.*

B-6

# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

# **1. Nature of Operations**

Aurox Holdings Inc. (the 'Company') was incorporated under the laws of the State of Nevada on November 30, 2021. The Company's three founders (the 'Founders') each initially owned approximately one-third of the initial capitalization. The Company intends to market the Aurox all-in-one cryptocurrency terminal (the 'Aurox Trading Platform') that integrates data, content, and strategies to help crypto traders make better decisions. The Company licenses the Aurox Trading Platform from Aurox, LLC, a company controlled by the Founders.

# *COVID-19*

The recent outbreak of the coronavirus, also known as 'COVID-19', has spread across the globe and is impacting worldwide economic activity. Conditions surrounding the coronavirus continue to rapidly evolve and government authorities have implemented emergency measures to mitigate the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to business globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions.

There are significant uncertainties with respect to future developments and impact to the Company related to the COVID-19 pandemic, including the duration, severity and scope of the outbreak and the measures taken by governments and businesses to contain the pandemic. While the impact of COVID-19 is expected to be temporary, the current circumstances are dynamic and the impacts of COVID-19 on the Company's business operations cannot be reasonably estimated at this time. As at the approval date of these consolidated financial statements, the outbreak and the related mitigation measures have taken and the extent to which these events may further impact the Company's business activities will depend on future developments, such as the ultimate geographic spread of the disease, the duration of the outbreak, travel restrictions, business disruptions, and the effectiveness of actions taken in United States and other countries to contain and treat the disease. These events are highly uncertain and as such, the Company cannot determine the ultimate financial impacts at this time. Any deterioration in the current situation could have an adverse impact on our business, results of operations, financial position and cash flows in 2022.

# **2. Financial Condition and Going Concern**

While these financial statements have been prepared on the basis of accounting principles applicable to a going concern, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business, adverse conditions could cast doubt upon the validity of this assumption. At March 31, 2022 the Company has working capital in the amount of $3,587,523, and has incurred losses since inception resulting in an accumulated deficit of $573,423. These conditions raise substantial doubt about the Company's ability to continue as a going concern for one year from the issuance of the financial statements.

Through March 31, 2022, the Company has raised gross proceeds in the amount of $4,825,000 from the sale of its common stock. In order to meet its corporate and administrative expenses for the coming year, the Company will be required to raise funds through additional financing. Although the Company has been successful in raising funds, there is no certainty that the Company will be successful in the future.

If the going concern assumption was not appropriate for these financial statements, then adjustments might be necessary to the carrying values of assets and liabilities, the reported loss and the balance sheet classifications used. These adjustments could be material. The accompanying financial statements do not include any adjustments that might result should the Company be unable to continue as a going concern.

B-7

# **AUROX HOLDINGS INC.**
**NOTES TO FINANCIAL STATEMENTS**
**MARCH 31, 2022**

# **3. Summary of Significant Accounting Policies**

The accompanying consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying financial statements and notes.

# Basis of Presentation

The accompanying financial statements include the accounts of Aurox Holdings Inc. and are presented in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).

# Prepaid expenses

Prepaid expenses represent future expenses paid in advance, until the associated benefits are realized, the future expense remains at current asset within the next twelve months and non-current asset after twelve months. Since prepaid expenses are categorized as “current and non-current” assets, the benefits associated with the products or services paid for upfront are expected to be used for the next twelve months and thereafter. Once the benefits of the assets are gradually realized, the prepaid expense is reduced as the asset is expensed off on the statement of operations.

# Digital Assets Translations and Impairments

Digital assets are included in the balance sheets as current assets, and are recorded at cost less impairment. The Company assesses impairment of digital assets quarterly if the fair value of digital assets is less than its cost basis. The Company recognizes impairment losses on digital assets caused by decreases in fair value using the lowest U.S. dollar spot price of the related digital asset as of each reporting date. Such impairment in the value of digital assets are recorded as a component of costs and expenses in our statements of operations. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Gains and subsequent reversal of impairment losses are not permitted.

# Fair Value of Financial Instruments

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below:

- Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
- Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
- Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data.

Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable.

The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

B-8

# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

Our short-term financial instruments, including cash, other assets and accounts payable and accrued expenses consist primarily of instruments without extended maturities, the fair value of which, based on management's estimates, reasonably approximate their book value. The fair value of our notes and advances payable is based on management estimates and reasonably approximates their book value based on their current maturity.

#### Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Significant estimates include the recoverability and useful lives of long-lived assets, the fair value of the Company's stock, stock-based compensation, intangible assets impairment and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates.

#### Forward Stock Split

Effective December 30, 2021, the Company's Board of Directors approved a 10,010-for-1 stock split of the Company's common stock. The Company had 999 shares of common stock outstanding immediately prior to the forward split, and 10,000,000 shares of common stock outstanding immediately after the split, an increase of 9,999,001. Ten additional shares were issued to the common stockholders in order to round the total shares outstanding to 10,000,000. All share or per share information is stated on a post-forward split basis.

#### Net Loss per Common Share

The Company computes net loss per share under Accounting Standards Codification subtopic 260-10, Earnings Per Share ('ASC 260-10'). Basic net income (loss) per common share is computed by dividing net loss by the weighted average number of shares of common stock. Diluted net loss per share is computed using the weighted average number of common and common stock equivalent shares outstanding during the period. There is no effect on diluted loss per share since there are no common stock equivalents outstanding as of March 31, 2022.

#### Revenue Recognition

It is the Company's policy that revenue from product sales or services will be recognized in accordance with Financial Accounting Standards Board 'FASB' Accounting Standards Codification 'ASC' 606. A five-step analysis must be met as outlined in Topic 606: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations, and (v) recognize revenue when (or as) performance obligations are satisfied. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded.

#### Stock Based Compensation

We recognize the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the consolidated financial statements over the period during which employees are required to provide services. Share-based compensation cost for stock options are estimated at the grant date based on each option's fair-value as calculated by the Black-Scholes-Merton ('BSM') option-pricing model. Share-based compensation arrangements may include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant.

Equity instruments issued to those other than employees are recognized pursuant to FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This ASU relates to the accounting for non-employee share-based payments. The amendment in this update expands the scope of Topic 718 to include all share-based payment transactions in which a grantor acquired goods or services to be used or consumed in a grantor's own operations by issuing share-based payment awards. The ASU excludes share-based payment awards that relate to: (1) financing to the issuer; or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts from Customers. The share-based payments are to be measured at grant-date fair value of the equity instruments that the entity is obligated to issue when the goods or service has been delivered or rendered and all other conditions necessary to earn the right to benefit from the equity instruments have been satisfied.

B-9

# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

# Comprehensive Income

SFAS No. 130, “Reporting Comprehensive Income,” establishes standards for the reporting and display of comprehensive income and its components in the consolidated financial statements. Comprehensive income is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, SFAS No. 130 requires that all items that are required to be recognized under current accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other consolidated financial statements. As of March 31, 2022, the Company reported no comprehensive income or loss.

# Income Taxes

The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of items that have been included or excluded in the consolidated financial statements or tax returns. Deferred tax assets and liabilities are determined on the basis of the difference between the tax basis of assets and liabilities and their respective financial reporting amounts (“temporary differences”) at enacted tax rates in effect for the years in which the temporary differences are expected to reverse.

The Company adopted the provisions of Accounting Standards Codification (“ASC”) Topic 740-10, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company’s financial statements as of March 31, 2022.

# Research and development

In accordance with ASC 730, “Research and Development”, the Company expenses all research and development costs as incurred. The Company had incurred $0 of research and development costs for the period of inception (November 30, 2021) through March 31, 2022.

# Long-Lived Assets

The Company reviews its long-lived assets, including property and equipment and any identifiable intangibles, for impairment utilizing the guidance set forth in the Statement of Financial Accounting Standards Board ASC 350 “Intangibles - Goodwill and Other” and ASC 360 “Property, Plant, and Equipment”. Long-lived assets are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with Topic ASC 360, “Property, Plant and Equipment”. Recoverability is measured by comparison of the carrying amount to the future net cash flows which the assets are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the projected discounted future cash flows arising from the asset using a discount rate determined by management to be commensurate with the risk inherent to our current business model.

The Company had Intangible Assets - Capitalized Software in the amount of $751,011 at March 31, 2022.

# Property, plant and equipment

Property, plant and equipment are carried at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets. Gains and losses from the retirement or disposition of property and equipment are included in operations in the period incurred. Maintenance and repairs are expensed as incurred.

B-10

# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

# Cash and cash equivalents

For purposes of the statement of cash flows, cash and cash equivalents includes demand deposits, saving accounts and money market accounts. The Company considers all highly liquid debt instruments with maturities of three months or less when purchased to be cash and cash equivalents.

# Related parties

The Company follows the ASC 850-10, Related Party for the identification of related parties and disclosure of related party transactions.

Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825-10-15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.

The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the consolidated financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

# Commitments and Contingencies

The Company follows the ASC 450-20, Commitments to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.

If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.

Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.

B-11

# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

# Recently Issued Accounting Pronouncements

In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This ASU relates to the accounting for non-employee share-based payments. The amendment in this update expands the scope of Topic 718 to include all share-based payment transactions in which a grantor acquired goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The ASU excludes share-based payment awards that relate to: (1) financing to the issuer; or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts from Customers. The share-based payments are to be measured at grant-date fair value of the equity instruments that the entity is obligated to issue when the goods or service has been delivered or rendered and all other conditions necessary to earn the right to benefit from the equity instruments have been satisfied. This standard will be effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. We adopted the provisions of this ASU on October 1, 2019. The adoption had no impact on our results of operations, cash flows, or financial condition.

In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, current U.S. GAAP requires the performance of procedures to determine the fair value at the impairment testing date of assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, the amendments under this ASU require the goodwill impairment test to be performed by comparing the fair value of a reporting unit with its carrying amount.

An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The ASU becomes effective for the Company on October 1, 2018. The amendments in this ASU should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed. We are evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures.

In January 2016, the FASB issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. We adopted the provisions of this ASU on October 1, 2018. The adoption had no impact on our results of operations, cash flows, or financial condition.

# *Accounting Standards Issued, Not Adopted*

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). This ASU requires measurement and recognition of expected credit losses for financial assets. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. ASU 2016-13 is effective for the Company beginning September 1, 2023. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company is currently evaluating the potential effect of this standard on its consolidated financial statements. The Company does not expect this standard to have a material impact on its consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (“ASU 2018-13”), which eliminates, adds and modifies certain disclosure requirements for fair value measurements. The amendment is effective for interim and annual reporting periods beginning after December 15, 2019. The Company is currently assessing the impact this will have on the consolidated financial statements.

B-12

# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

In November 2018, the FASB issued ASU No. 2018-18, Collaborative Arrangements (“ASU 2018-18”), which clarifies the interaction between ASC 808, Collaborative Arrangements and ASC 606, Revenue from Contracts with Customers. Certain transactions between participants in a collaborative arrangement should be accounted for under ASC 606 when the counterparty is a customer. In addition, ASU 2018-18 precludes an entity from presenting consideration from a transaction in a collaborative arrangement as revenue if the counterparty is not a customer for that transaction. ASU 2018-18 should be applied retrospectively to the date of initial application of ASC 606. This guidance is effective for interim and fiscal periods beginning after December 15, 2019. The Company is currently assessing the impact this will have on the consolidated financial statements.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes: Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020, with early adoption permitted. Adoption of the standard requires certain changes to be made prospectively, with some changes to be made retrospectively. The Company does not expect the adoption of this standard to have a material impact on its financial position, results of operations or cash flows.

In March 2020, the FASB issued ASU 2020-03, “Codification Improvements to Financial Instruments”: The amendments in this update are to clarify, correct errors in, or make minor improvements to a variety of ASC topics. The changes in ASU 2020-03 are not expected to have a significant effect on current accounting practices. The ASU improves various financial instrument topics in the Codification to increase stakeholder awareness of the amendments and to expedite the improvement process by making the Codification easier to understand and easier to apply by eliminating inconsistencies and providing clarifications. The ASU is effective for smaller reporting companies for fiscal years beginning after December 15, 2022 with early application permitted. The Company is currently evaluating the impact the adoption of this guidance may have on its combined financial statements.

In August 2020, the FASB issued ASU 2020-06 Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) related to the measurement and disclosure requirements for convertible instruments and contracts in an entity’s own equity. The pronouncement simplifies and adds disclosure requirements for the accounting and measurement of convertible instruments and the settlement assessment for contracts in an entity’s own equity. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2021 and early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact that this standard will have on its combined financial statements.

In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). ASU 2021-04 clarifies and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The ASU provides guidance to clarify whether an issuer should account for a modification or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange as (1) an adjustment to equity and, if so, the related earnings per share effects, if any, or (2) an expense and, if so, the manner and pattern of recognition. ASU 2021-04 is effective for annual beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact that this standard will have on its combined financial statements.

In October 2021, the FASB issued guidance which requires companies to apply Topic 606, Revenue from Contracts with Customers, to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2022 and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact and timing of adoption of this guidance.

There are other various updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

B-13

# **AUROX HOLDINGS INC.**
**NOTES TO FINANCIAL STATEMENTS**
**MARCH 31, 2022**

The Company evaluates events that have occurred after the balance sheet date but before the consolidated financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the consolidated financial statements, except as disclosed below.

# **4. Intangible Assets - Digital Currency**

We expect to receive payment for our services in the form cash and of digital currency, which is maintained in digital wallets; we also pay certain of our expenses in the form of digital currency. These digital transactions are recorded in USD at the closing price of the digital currency on the date of each transaction. At period end, the value of each digital currency is then compared to the closing price in effect on the last day of the period. Any increase in value is recorded as an unrealized gain, and is not recognized until the digital currency is disposed. Any decrease in value is recorded as an impairment to the value of the intangible asset. The amounts of digital currencies are summarized in the table below:

|  | March 31, |
| --- | --- |
|  | 2022 |
| Digital Currency | $13,043 |

At March 31, 2022, the Company had recorded unrealized gains in the amount of $5,466; during period of inception through March 31, 2022, the Company had reserves against future losses in the amount of $5,466.

# **5. Intangible Assets - Software Capitalization**

On January 6, 2022, the Company entered into an intellectual property and license agreement (the “License Agreement”) with Aurox, LLC (the “Vendor”). The Vendor is owned by the same three individuals as the Company. Pursuant to the License Agreement, the Company obtained the perpetual, non-exclusive, non-transferable right and license (the “License”) to use and create derivatives of exclusive right to use, develop, and certain technology, primarily consisting of the Aurox Terminal. The Aurox Terminal is a cloud-based software engine that provides to users the ability to analyze, monitor, and chart cryptocurrencies across multiple centralized and decentralize exchanges. The Aurox Terminal is a non-custodial data only product, but it does allow users to place orders by linking their already existing centralized exchange accounts or their web3 wallet to the platform. The cost of the License is $10,000 per month. The Company is building additional features and capabilities into and related to the Aurox Terminal, with the intention of offering a suite of services (the “Platform”) to its customers via the Company’s website.

The Company hosts the Platform. The Company’s customers will not take possession of the Platform and cannot run the Platform on their own hardware. For these reasons, pursuant to ASC 985-20, the Platform is considered a software hosting arrangement and the guidance of ASC 350-40 applies. Pursuant to ASC 350-40, the software development process is broken down into three stages:

1) Preliminary project stage: costs are expensed
2) Application development stage: costs are capitalized
3) Post-implementation - operation stage: costs are expensed

The Company was familiar with the Platform and with the additional capabilities they intend to develop at the time they acquired the License, and accordingly there were no preliminary project stage expenses incurred. The further development of the Platform is anticipated to continue through approximately December 31, 2022, when the Company expects to offer a limited number of products to its customers. The Company will capitalize all development costs until such time as these service offerings are made available. During the period from inception (November 30, 2021) through March 31, 2022, the Company capitalized development costs in the amount $641,011. These costs consisted of engineering fees and salaries.

For guidance regarding the accounting for the License, the Company looked to paragraphs 350-40-15-1 through 15-4C which states that such a license should be accounted for as the acquisition of an intangible asset and the incurrence of a liability. The intangible asset acquired shall be recognized and measured in accordance with paragraphs 350-30-25-1 and 350-30-30-1, respectively. The Company estimated that the Platform will exit the development stage on December 31, 2022, and capitalized the amount of license fees payable through that date. This resulted in an intangible asset in the amount of $110,000 and a related liability also in the amount of $110,000. Through March 31, 2022, the Company paid $20,000 of license fees, and the balance of the liability at March 31, 2022 is $90,000.

B-14

# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

A summary of the Intangible Asset - Capitalized Software is in the following table:

|  | March 31, 2022 |
| --- | --- |
| Engineering costs | $641,011 |
| License | 110,000 |
| Total | $751,011 |

# **6. Accounts Payable and Accrued Liabilities**

Accounts payable and accrued liabilities consist of the following:

|  | March 31, 2022 |
| --- | --- |
| Trade accounts payable | $163,725 |
| Accrued payroll | 56,043 |
| Total | $219,768 |

# **7. Related Party Transactions**

# *Aurox Trading Platform License*

The Company licenses the Aurox Trading Platform from Aurox, LLC, a company controlled by the Founders for the amount of $10,000 per month. The license is personal, worldwide, perpetual, irrevocable, non-exclusive, and non-transferable.

# **8. Stockholders' Equity**

# Common stock

The Company has authorized 90,000,000 shares of common stock, $0.01 par value. At March 31, 2022, the Company had 10,000,000 shares of common stock issued and outstanding.

# *Common stock transactions during the period from inception through March 31, 2022*

The initial capitalization of the Company consisted of 999 shares of common stock granted to the Company’s three founders. Effective December 30, 2021, the Company’s Board of Directors approved a 10,010-for-1 stock split of the Company’s common stock; this resulted in the issuance of an additional 9,998,991 shares of common stock. The Company also issued a total of ten shares in conjunction with the stock split to round the total number of shares outstanding to 10,000,000. In connection with the recapitalization, the Company debited retained earnings for $100,000. The effect of the stock split is presented on a retroactive basis throughout these financial statements.

From January 18, 2022 through March 22, 2022, the Company received cash in the amount of $4,825,000 from 25 investors pursuant to a private placement of 2,412,500 shares of common stock at a price of $2.00 per share. This amount is recorded as Common Stock Subscribed on the Company’s balance sheet at March 31, 2022. The Company expects to complete the private placement and issue these shares during the first quarter of fiscal 2023.

# *Options*

The Company expects to issue incentive stock options to key employees. The term of any such option agreements have not been finalized as of March 31, 2022.

B-15

# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

# Preferred Stock

The Company is authorized to issue 10,000,000 shares of Preferred stock, par value $0.01. The Company has designated 10 shares of preferred stock as Series X. The Series X Preferred Stock shall be non-equity shares with a par value of $0.01 per share. Each holder of one share of the Series X Preferred Stock shall have the right to vote on all matters submitted for a vote to shareholders of the Company and shall have the right to vote to the extent of ten times the number of shares of common stock owned by the holder.

# *Preferred stock transactions during the period from inception through March 31, 2022*

On December 27, 2021, the Company issued 1 share of Series X Preferred stock to each of its 3 founders. At March 31, 2022, there are 3 shares of Series X Preferred stock issued and outstanding.

# **9. Income Taxes**

Deferred income tax assets result primarily from an accumulation of net operating loss carryforwards for income tax purposes with a valuation allowance applied against the carryforwards for book purposes. These net operating losses will expire in various years through 2037.

The provision (benefit) for income taxes for the period from inception (November 30, 2021) to March 31, 2022 consist of the following:

|  | March 31, 2022 |
| --- | --- |
| Current | $ - |
| Deferred | - |
| Total | $ - |

The provision (benefit) for income taxes differs from the amount of income tax determined by applying the applicable statutory income tax rate of 21.0% for the period from inception (November 30, 2021) to March 31, 2022 to the loss before taxes as a result of the following differences:

|  | March 31, 2022 |
| --- | --- |
| Loss before income taxes | $(473,423) |
| Statutory tax rate | 21.0% |
| Total benefit at statutory rate | (99,419) |
| Changes in valuation allowance | 99,419 |
| Income tax expense | $ - |

The Company’s lone deferred tax asset is the March 31, 2022 net operating loss which will be carried forward for income tax purposes. A full valuation allowance has been applied against the asset for financial statement purposes.

# **10. Commitments and contingencies**

From time to time, the Company is involved in various legal proceedings and claims in the ordinary course of business. The Company currently is not aware of any legal proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on its business, financial condition, operating results, or cash flows.

As of March 31 2022, the Company has no material commitments or contingencies.

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# **AUROX HOLDINGS INC.**  
**NOTES TO FINANCIAL STATEMENTS**  
**MARCH 31, 2022**

# **11. Subsequent events**

# *Sale of common stock*

In April 2022, the Company received cash proceeds of $175,000 for the sale of 87,500 shares of common stock at a price of $2.00 per share.

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# **Exhibit C**

# **Intermediary Page**

https://www.tzero.com/issuance/asset/42294

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# **Exhibit D**

# **Video Transcript**

[Intentionally Left Blank]

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# EXHIBIT E

## INTELLECTUAL PROPERTY LICENSE AGREEMENT

**THIS INTELLECTUAL PROPERTY LICENSE AGREEMENT** (this “Agreement”) is entered into as of 01/06/2022 (the “Effective Date”) by and among **Aurox, LLC**, a Wyoming limited liability company (“Aurox”), and **Aurox Holdings Inc.**, a Nevada corporation (“Aurox Holdings”). Capitalized terms used in this Agreement and not otherwise defined will have the meanings ascribed to such terms in Article 1 of this Agreement. Aurox and Aurox Holdings may be referred to herein each as a “Party” and collectively as the “Parties”.

**WHEREAS**, Aurox is engaged in the research, development and implementation of certain software and related technology (the “Aurox Technology”) which may be utilized in in connection with the operation of a cryptocurrency exchange; and

**WHEREAS**, Aurox Holdings is engaged in the development, implementation and operation of a cryptocurrency exchange based in the State of Nevada but for use by the general public in various jurisdictions; and

**WHEREAS**, Aurox Holdings desires to receive and Aurox is willing to grant to Aurox Holdings certain rights to the Aurox Technology retained and owned by Aurox on or after the Effective Date,

**NOW, THEREFORE**, in consideration of the foregoing and the mutual covenants and agreements set forth below, and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereby agree as follows:

### 1. DEFINITIONS

1.1 “Affiliate” of any specified Person means any other Person directly or indirectly “controlling,” “controlled by,” or “under common control with” (within the meaning of the Securities Act), such specified Person.

1.2 “Aurox Group” means Aurox and each Person that is an Affiliate of Aurox immediately after the Effective Date, and each other Person that becomes an Affiliate of Aurox after the Effective Date.

1.3 “Aurox Patent” means all Patents (including reissues and reexaminations thereof), filed for or issued anywhere in the world, that are owned or controlled by any member of the Aurox Group and issued on, or claiming priority from, an application filed anywhere in the world prior to the one (1) year anniversary of the Effective Date with respect to which and to the extent that any member of the Aurox Group has a right, as of the Effective Date or thereafter, to grant the licenses and related rights granted in this Agreement without the payment of royalties or other consideration to third Persons, except for payments to third Persons: (a) for inventions made by said third Persons while engaged by any member of the Aurox Group or any Affiliate of Aurox; and (b) as consideration for the acquisition of such Patents.

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1.4 “Aurox Technology” means any and all portions of Corporation Technology that were or are in the future developed by or for, or otherwise acquired by Aurox, including

- (a) all proprietary Technology, including but not limited to Hardware and Software, developed by Aurox;
- (b) all Technology heretofore or hereafter assigned to Aurox Holdings by Aurox; and
- (c) all Technology licensed to or on behalf of Aurox from third parties and incorporated into the Corporation Technology.

1.5 “Change of Control” means the acquisition of at least fifty percent (50%) of the outstanding voting power of a party to this Agreement by another Person by means of any transaction or series of related transactions including, without limitation, any reorganization, merger, consolidation or tender offer, except where such party’s shareholders of record as constituted immediately prior to such transaction will, immediately after such transaction together hold at least fifty percent (50%) of the outstanding voting power of the surviving or acquiring Person in such transaction. Notwithstanding the foregoing or anything in this Agreement to the contrary, neither the IPO nor distribution will constitute a Change of Control for purposes of this Agreement.

1.6 “Confidential Information” has the meaning set forth in Section 7.1.

1.7 “Copyrights” means: (a) any rights in original works of authorship fixed in any tangible medium of expression as set forth in the United States Copyright Act, 17 U.S.C. § 101 et. seq.; (b) all registrations and applications to register the foregoing anywhere in the world; (c) all foreign counterparts and analogous rights anywhere in the world; and (d) all rights in and to any of the foregoing.

1.8 “Corporation Technology” means any and all Technology that exists as of the Effective Date and that, immediately prior to the Effective Date, was owned by Aurox or any of its Affiliates, including any of its business units and divisions. The term includes any and all Technology owned or controlled by any Aurox Affiliate under which Aurox has the right to grant any of the licenses and rights of the type and on the terms granted in this Agreement.

1.9 “Cryptocurrency” or “Cryptocurrencies” shall include all virtual financial assets as defined by the laws and regulations of the Country of the United States of America, including but not limited to security tokens, utility tokens and digital currencies.

1.10 “Damages” means all losses, claims, demands, damages, Liabilities, judgments, dues, penalties, assessments, fines (civil, criminal or administrative), costs, liens, forfeitures, settlements, fees or expenses (including reasonable attorneys’ fees and expenses and any other expenses reasonably incurred in connection with investigating, prosecuting or defending a claim or Action), of any nature or kind, whether or not the same would properly be reflected on a balance sheet.

1.11 “Derivative(s)” means: (a) for copyrightable or copyrighted material, any translation (including translation into other computer languages), port, modification, correction, addition, extension, upgrade, improvement, compilation, abridgment or other form in which an existing work may be recast, transformed or adapted or which would otherwise constitute a derivative work

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under the United States Copyright Act; (b) for patentable or patented material, any improvement thereon; and (c) for material which is protected by trade secret law, any new material derived from such existing trade secret material, including new material which may be protected by copyright, patent and/or trade secret law.

1.12 “IPO” shall mean initial public offering of the securities of Aurox and/or any Affiliate thereof.

1.13 “IPO Effective Date” means the date on which an IPO is consummated.

1.14 “Licensed Technology” means Licensed Aurox Technology.

1.15 “Hardware” means all tools, machinery, and other durable equipment.

1.16 “Non-Patent Intellectual Property Rights” means all rights in Copyrights, Technology and other intangible property anywhere in the world, and all registrations and applications relating to any of the foregoing and analogous rights thereto anywhere in the world, other than rights in Patents and Trademarks.

1.17 “Patents” means: (a) patents and patent applications, worldwide, including all divisions, continuations, continuing prosecution applications, continuations in part, reissues, renewals, reexaminations, and extensions thereof and any counterparts worldwide claiming priority therefrom; utility models, design patents, patents of importation/confirmation, and certificates of invention and like statutory rights; and (b) all right in and to any of the foregoing.

1.18 “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency, or political subdivision thereof. As used in this Agreement, the term “third Person(s)” means a Person that is neither a party to this Agreement nor an Affiliate of a party to this Agreement.

1.19 “Software” means computer programs and systems, whether embodied in software, firmware or otherwise, including, software compilations, software implementations of algorithms, software tool sets, compilers, and software models and methodologies (regardless of the stage of development or completion) including any and all: (a) media on which any of the foregoing is recorded; (b) forms in which any of the foregoing is embodied (whether in source code, object code, executable code or human readable form); and (c) translation, ported versions and modifications of any of the foregoing.

1.20 “Technology” means any and all technical information as provided on Schedule A attached hereto.

1.21 “Trademarks” means: (a) trademarks, service marks, logos, trade dress and trade names, and domain names indicating the source of goods or services, and other indicia of commercial source or origin (whether registered, common law, statutory or otherwise); (b) all registrations and applications to register the foregoing anywhere in the world; (c) all goodwill associated therewith; and (d) all rights in and to any of the foregoing.

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## 2. TECHNOLOGY ACCESS AND KNOWLEDGE TRANSFER

2.1 Assignment of Corporation Technology. Effective as of the date hereof, Aurox hereby grants to Aurox Holdings the exclusive right to use, develop and implement all Corporation Technology, including the right to file in Aurox Holdings' own name for Copyrights, Patents and Trademarks for such Corporation Technology, as Aurox Holdings in its discretion shall deem appropriate. If such Corporation Technology is held by virtue of a license agreement with a third Person, the foregoing grant will apply only to the extent of rights held by Aurox under such license agreement(s).

2.2 Export Control. Each party agrees it and each member of its Group will comply with all applicable import and export laws, rules and regulations with respect to the transfer of any Technology provided to it under this Agreement. Without limiting the generality of the foregoing, each party acknowledges and agrees that such Technology is subject to export controls under the laws and regulations of the United States, including the Export Administration Regulations, 15 C.F.R. Parts 730-774. Each party and the members of its Group will comply strictly with all such United States export controls, and shall not export, re-export, transfer, divert or disclose any Technology provided hereunder, or any direct product thereof, to any destination, end-use or end-user that is prohibited or restricted under such United States export control laws and regulations, except as specifically authorized by the Department of Commerce. If requested by either party, the other party and any other member of such party's Group agrees to sign written assurances and other export-related documents as may be required for such party or each member of its Group to comply with U.S. export regulations. This Section 2.2 will survive termination of this Agreement for any reason whatsoever.

## 3. TECHNOLOGY LICENSE TERMS

3.1 Licensed Aurox Technology Grant. Subject to the restrictions specified in this Section 3.1, Aurox hereby grants to Aurox Holdings a personal, worldwide, perpetual, irrevocable, non-exclusive, non-transferable, right and license to use any Licensed Aurox Technology for any businesses in which Aurox Holdings is now or hereafter engaged, and to: (a) create Derivatives of the Licensed Aurox Technology; and (b) use, reproduce, distribute, perform and display the Licensed Aurox Technology and Derivatives (made pursuant to subsection (a) above) of the Licensed Aurox Technology. Except as expressly set forth in Section 3.3 (Procurement Rights), no right is granted hereunder to Aurox Holdings to sublicense or disclose any of the Licensed Aurox Technology to any third Person, other than the sublicensing of Software in object code form in connection with the sale of Aurox Holdings' products or services.

3.2 License Fee. Unless and until the foregoing right and license is terminated as provided herein, Aurox Holdings shall pay to Aurox a license fee (the 'License Fee') of $120,000 per annum, payable in advance in equal monthly installments. Failure to pay the License Fee within thirty (30) days of the due date thereof shall constitute a material breach of this Agreement.

3.3 Procurement Rights.

(a) Subject to the restrictions in this Article 3, and without limiting its other rights hereunder, Aurox Holdings may sublicense and disclose to any of its suppliers, prospective

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suppliers or third Person joint developers (under appropriate joint development agreements) the Licensed Technology of the other party solely to the extent reasonably necessary for the procurement by such party of components, subsystems, sub-assemblies, products and/or services of the businesses of such party. Such disclosure and/or license may only be made for a bona fide business purpose for the benefit of Aurox Holdings.

(b) Aurox Holdings agrees that it will not make any portion of Licensed Technology of the other party available to any such supplier, prospective supplier, or joint developer except under terms and conditions (including confidentiality, use and disclosure restrictions) normally used by such party to protect its own intellectual property and proprietary information of a similar nature.

(c) The rights granted hereunder to Aurox Holdings under this Section 3.3 or otherwise under this Agreement, may not be exercised in a manner such that the exercise of such party's procurement rights is a sham to affect the licensing of the Licensed Technology of the other party or any portion thereof, to a third Person and not for bona fide business purposes of Aurox Holdings.

(d) Aurox Holdings agrees that prior to the disclosure of any portion of Licensed Technology of the other party under this Section 3.3, it shall expunge all extraneous proprietary information of Aurox.

(e) Nothing in this Section 3.3 will be construed to obligate Aurox to transfer or provide technical assistance to third Persons with respect to the Technology that it has licensed under this Agreement.

3.4 Assignment of Technology Licenses. The license granted to Aurox Holdings under Section 3.2 are assignable by Aurox Holdings only to the acquirer of all or substantially all of the assets of its business, and provided that: (a) all such licenses are assigned together (i.e., concurrently and to the same assignee); (b) the assignee expressly assumes in writing acceptable to Aurox all obligations and limitations under this Agreement with respect to such licenses; and (c) such assigned licenses may be exercised by the assignee only in connection with (i) the operation of the business and assets of Aurox Holdings so sold or disposed of, and (ii) with the authorization or approval of any governmental authority as then may be required. Subject to the foregoing, the Technology rights and licenses granted above shall continue in accordance their terms with respect to the assignee as further set forth in Section 9.2(c). Any assignment or attempted assignment in violation of the foregoing will be null and void.

#### **4. PATENT, TRADEMARK OR COPYRIGHTED TECHNOLOGIES**

4.1 Assignment of Rights to Aurox Holdings. Aurox hereby assigns any and all patent, trademark or copyright rights to the Corporation Technology to Aurox Holdings.

4.2 Use of Protected Materials. Any US or international patent, trademark or copyright which now or hereafter may be granted to Aurox with respect to the Aurox Technology is hereby licensed to Aurox Holdings and made subject to this Agreement, without the necessity of further consideration or agreement between Aurox and Aurox Holdings. Further assignment or sublicense of any such patent, trademark or copyright is subject to the restrictions set forth in Section 3.4

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hereof. Any assignment or attempted assignment of any such patent, trademark or copyright in violation of Section 3.4 will be null and void.

## 5. RETENTION, MAINTENANCE AND DEFENSE OF RIGHTS

5.1 Retained Rights. Aurox grants no license (or makes any covenant not to assert) other than as expressly set forth in Article 3 and Article 4. Subject only to such licenses and covenants, Aurox retains all right, title and interest (including all Patents and Non-Patent Intellectual Property Rights), in and to its Technology, Patents and Non-Patent Intellectual Property Rights. Without limiting the foregoing, Aurox will have the sole right (but not the obligation) to file for, prosecute and maintain any applications, registrations or recordation thereof and to bring any action to enforce or otherwise seek to abate any infringement thereof.

5.2 No Representations or Warranties.

AUROX HOLDINGS ACKNOWLEDGES AND AGREES THAT: (i) AUROX DOES NOT MAKE IN THIS AGREEMENT (OR ANY OTHER AGREEMENT OR OTHERWISE) ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, AS TO THE CONDITION, QUALITY, MERCHANTABILITY OR FITNESS OF ANY LICENSED INTELLECTUAL PROPERTY OR LICENSED AUROX TECHNOLOGY; (ii) ALL SUCH LICENSED INTELLECTUAL PROPERTY OR LICENSED AUROX TECHNOLOGY SHALL BE LICENSED ON AN “AS IS,” “WHERE IS” BASIS; AND (iii) AUROX HOLDINGS SHALL BEAR THE ECONOMIC AND LEGAL RISKS THAT ANY LICENSE SHALL PROVE TO BE INSUFFICIENT TO VEST IN IT THE RIGHTS AND LICENSES PURPORTED TO BE GRANTED HEREUNDER.

5.3 Aurox Holdings Indemnification.

(a) Obligation to Defend - Subject to the limitations and exclusions stated below, Aurox Holdings will defend, at its own expense, any Claim against Aurox, and will indemnify and hold Aurox harmless from all Damages awarded in the Suit or resulting from settlement of the Suit or any Claim. “Suit” means a lawsuit based on a Claim. For purposes of this Section, “Claim” means a claim that a product or service furnished by Aurox Holdings to a third Person on or after the Effective Date infringes a Patent or Non-Patent Intellectual Property Right anywhere in the world.

(b) Indemnification Procedure - In connection with any Claim or Suit, Aurox Holdings shall:

- (i) promptly notify Aurox in writing as soon as reasonably practicable after Aurox Holdings first becomes aware of the Claim, and
- (ii) give Aurox sole control of the Claim and all requested assistance for resolving the Claim or defending the Suit.

Aurox will not be liable for the settlement of a Claim made without Aurox’s prior written consent unless Aurox breaches its duty to defend hereunder. If any suit against Aurox Holdings involves a Claim as well as other claims against Aurox, Aurox Holdings shall nonetheless be fully responsible

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for defending, indemnifying and holding Aurox harmless from the Claim(s), and shall provide reasonable cooperation to Aurox's counsel with respect to the other claims asserted in such suit.

(c) Exclusions - Aurox Holdings will have no obligation to defend, indemnify or hold Aurox harmless to the extent:

(i) Aurox or any third Person has altered the Aurox Technology, and the alleged infringement would not have occurred but for this alteration; or

(ii) Aurox or any third Person has combined the Aurox Technology with any other products or elements not furnished by Aurox Holdings, and the alleged infringement would not have occurred but for this combination.

(d) Remedies - If the use or permitted resale of any Aurox Technology is enjoined as a result of a Suit or in Aurox's reasonable belief is likely to be enjoined, Aurox, at Aurox's option, and at no expense to Aurox Holdings, will: (i) obtain for Aurox Holdings the right to use the Aurox Technology; (ii) modify the Aurox Technology to make it non-infringing without degrading it, or (iii) substitute an equivalent non-infringing product(s) reasonably acceptable to Aurox Holdings and extend this indemnity to that product(s).

(e) Limitations on Payable Damages - Aurox Holdings' total liability for damages under this Section 5.3, with respect to any Suit or Claim with respect to Aurox Technology will not exceed fifty percent (50%) of the net license fees to Aurox of the applicable Aurox Technology (as recorded in Aurox Holdings' audited financial statements) for the period of the alleged infringement, plus attorneys' fees and costs related to such Claim.

(f) ENTIRE LIABILITY - THIS SECTION CONTAINS (I) AUROX HOLDINGS' ENTIRE LIABILITY AND ALL OBLIGATIONS RELATED TO INTELLECTUAL PROPERTY INFRINGEMENT OR MISAPPROPRIATION FOR AUROX HOLDINGS INDEMNIFIED PRODUCTS, AND (II) AUROX'S EXCLUSIVE REMEDIES AGAINST AUROX HOLDINGS FOR INTELLECTUAL PROPERTY INFRINGEMENT OR MISAPPROPRIATION OF AUROX TECHNOLOGY. THESE REMEDIES ARE PROVIDED IN LIEU OF ALL WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, WITHOUT LIMITATION, THE WARRANTY AGAINST INFRINGEMENT SPECIFIED IN THE UNIFORM COMMERCIAL CODE.

(g) WITHOUT LIMITATION OF AUROX'S OBLIGATIONS UNDER THIS SECTION 5.3 WITH REGARD TO THIRD PARTY CLAIMS AGAINST AUROX, IN NO EVENT WILL AUROX HOLDINGS OR ANY OF ITS AFFILIATES BE LIABLE FOR ANY OTHER SPECIAL, INCIDENTAL, INDIRECT, COLLATERAL, CONSEQUENTIAL OR PUNITIVE DAMAGES OR LOST PROFITS OF AUROX OR ITS AFFILIATES, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, IN CONNECTION WITH ANY CLAIMS, LOSSES, DAMAGES OR INJURIES UNDER THIS SECTION 5.3.

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## 6. (RESERVED)

## 7. CONFIDENTIALITY

7.1 Confidential Information. Each party (the “Receiving Party”) expressly acknowledges that in connection with this Agreement the other party (the “Disclosing Party”) has disclosed or may disclose or make available information and material relating to the Disclosing Party’s business or Technology which is confidential or proprietary in nature (including, without limitation, information that embodies or relates to Technology, any other technical, business, financial, customer information, product development plans, supplier information, forecasts, strategies and other confidential information) which to the extent disclosed to the Receiving Party is hereinafter referred to as “Confidential Information” of the Disclosing Party provided such information: (a) is reasonably construed as confidential in nature or (if in writing) is marked “CONFIDENTIAL” or with words of similar effect; and (b) is not generally available to the public when so disclosed.

7.2 Treatment of Confidential Information. The Receiving Party will: (a) take commercially reasonable precautions to protect such Confidential Information consistent with all precautions the Receiving Party usually employs with respect to its own comparable confidential materials; (b) except as expressly provided in this Agreement, not disclose any such Confidential Information to any third Person, except under terms and conditions (including confidentiality, use, and disclosure restrictions) normally used by the Receiving Party to protect its own confidential or proprietary information of a similar nature; and (c) not use or disclose such Confidential Information except as necessary to exercise its rights and perform its obligations under this Agreement in accordance with any applicable restrictions or obligations with respect thereto. Subject to the limitations and requirements set forth in this Article 7 and elsewhere in this Agreement (including, without limitation Section 3.3), the Receiving Party may disclose Technology of the Disclosing Party to a customer, supplier, prospective supplier or third Person joint developer of the Receiving Party.

7.3 Exclusions. Without granting any right or license, the Disclosing Party agrees that Section 7.2 will not apply with respect to any information that the Receiving Party can document: (a) is or becomes generally available to the public through no improper action or inaction by the Receiving Party or any of its Affiliates, agents, consultants or employees; or (b) was properly in the Receiving Party’s possession or known by it prior to receipt from the Disclosing Party; or (c) was rightfully disclosed to the Receiving Party by a third Person provided the Receiving Party complies with restrictions imposed by the third Person. The Receiving Party, with prior written notice to the Disclosing Party, may disclose such Confidential Information to the minimum extent possible that is required to be disclosed to a governmental entity or agency, or pursuant to the lawful requirement or request of a governmental entity or agency, provided that reasonable measures are taken to guard against further disclosure (including without limitation, seeking appropriate confidential treatment or a protective order, or assisting the Disclosing Party to do so) and has allowed the Disclosing Party to participate in any proceeding that requires the disclosure.

## 8. NO FURTHER CONSIDERATION

Except as expressly set forth in Section 3.2 hereof, no payments or royalties will be due from or to any party under this Agreement.

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## 9. TERMINATION

9.1 Group Member Termination. If a Person ceases to be an Affiliate of a party (i.e., ceases to be a member of such party's Group), then notwithstanding anything in this Agreement to the contrary: (a) all rights and license granted with respect to such Person under this Agreement will automatically terminate on the date such Person ceases to be an Affiliate (except, however, as to products or services already sold by such Person as of such date); (b) all of the licenses and rights granted by such Person with respect to the other parties hereunder with respect to Patents of such Person for which applications were filed prior to the date such Person ceases to be an Affiliate will not be affected by such cessation; and (c) such Person's obligations under Section 2.2 (Export Control) and Article 7 (Confidentiality) will survive, together with all other obligations under this Agreement that arose prior to the date such Person ceases to be an Affiliate.

### 9.2 Corporate Change.

(a) In the event that either party (the 'Acquiring Party') hereto acquires any Person, then all Patent licenses and Patent-related rights granted to the Acquiring Party hereunder: (i) may be sublicensed to the acquired Person subject to the terms of this Agreement, if such Person is not merged into the Acquiring Party; or (ii) may be extended to all products and services of the business previously operated by the acquired Person, if such Person is merged into the Acquiring Party.

(b) Notwithstanding the foregoing, in the event of a Change of Control of a party, the Technology licenses granted hereunder will continue in accordance with the terms thereof.

9.3 Material Breach. No party may unilaterally terminate this Agreement, or any licenses granted hereunder, for a material breach of this Agreement by another party, provided, however, that each party will retain any remedies for such breach that it may be entitled to in a court of law or equity.

## 10. MISCELLANEOUS

10.1 Governing Law and Venue. This Agreement shall be construed and enforced in accordance with the laws of the state of Nevada. The parties agree that they will use their best efforts to amicably resolve any dispute arising out of or relating to this Agreement. Any controversy, claim or dispute that cannot be so resolved shall be settled by final binding arbitration in accordance with the rules of the American Arbitration Association and judgment upon the award rendered by the arbitrator or arbitrators may be entered in any court having jurisdiction thereof. Any such arbitration shall be conducted in the State of Texas, or such other place as may be mutually agreed upon by the parties. Within fifteen (15) days after the commencement of the arbitration, each party shall select one person to act as arbitrator, and the two arbitrators so selected shall select a third arbitrator within ten (10) days of their appointment. Each party shall bear its own costs and expenses and an equal share of the arbitrator's expenses and administrative fees of arbitration.

10.2 Notices. Each party giving any notice required or permitted under this Agreement will give the notice in writing and use one of the following methods of delivery to the party to be notified, at the address set forth below or another address of which the sending party has been notified in accordance with this Section 10.4 (Notices): (a) personal delivery; (b) facsimile or telecopy

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transmission with a reasonable method of confirming transmission; (c) commercial overnight courier with a reasonable method of confirming delivery; (d) prepaid, United States of America certified or registered mail, return receipt requested; or (e) electronic mail delivery acknowledged by the recipient. Notice to a party is effective for purposes of this Agreement only if given as provided in this Section and will be deemed given on the date that the intended addressee actually receives the notice.

# If to Aurox, LLC

Aurox, LLC  
800 New Hope Rd.  
Cross Roads, TX 76227  
Attn: Giorgi Khazaradze, Manager

# If to Aurox Holdings Inc.

Aurox Holdings Inc.  
800 New Hope Rd.  
Cross Roads, TX 76227  
Attn: Giorgi Khazaradze, President

10.3 **Binding Effect and Assignment.** This Agreement binds and benefits the parties and their respective successors and assigns, except that neither party may assign any of its rights or delegate any of its obligations under this Agreement without the written consent of the other party which consent may be withheld in its sole and absolute discretion and any assignment or attempted assignment in violation of the foregoing will be null and void. Notwithstanding the preceding sentence, Aurox may assign this Agreement in connection with a merger transaction in which Aurox is not the surviving entity or the sale of all or substantially all of its assets.

10.4 **Severability.** If any provision of this Agreement is determined to be invalid, illegal or unenforceable, the remaining provisions of this Agreement will remain in full force, if the essential terms and conditions of this Agreement for each party remain valid, binding and enforceable.

10.5 **Entire Agreement.** This Agreement constitutes the final agreement between the parties, and is the complete and exclusive statement of the parties' agreement on the matters contained herein and therein. All prior and contemporaneous negotiations and agreements between the parties with respect to the matters contained in this Agreement are superseded by this Agreement.

10.6 **Counterparts.** The parties may execute this Agreement in multiple counterparts, each of which constitutes an original as against the party that signed it, and all of which together constitute one agreement. The signatures of both parties need not appear on the same counterpart. The delivery of signed counterparts by facsimile or email transmission that includes a copy of the sending party's signature is as effective as signing and delivering the counterpart in person.

10.7 **Expenses.** Except as otherwise provided in this Agreement, all costs, fees and expenses of either party in connection with the transactions contemplated by this Agreement will be paid by the party that incurs such costs and expenses.

10.8 **Amendment.** The parties may amend this Agreement only by a written agreement signed by each party to be bound by the amendment and that identifies itself as an amendment to this Agreement.

10.9 **Waiver.** The parties may waive a provision of this Agreement only by a writing signed by the party intended to be bound by the waiver. A party is not prevented from enforcing any right, remedy or condition in the party's favor because of any failure or delay in exercising any right or

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remedy or in requiring satisfaction of any condition, except to the extent that the party specifically waives the same in writing. A written waiver given for one matter or occasion is effective only in that instance and only for the purpose stated. A waiver once given is not to be construed as a waiver for any other matter or occasion. Any enumeration of a party's rights and remedies in this Agreement is not intended to be exclusive, and a party's rights and remedies are intended to be cumulative to the extent permitted by law and include any rights and remedies authorized in law or in equity.

10.10 Authority. Each of the parties hereto represents to the other that: (a) it has the corporate or other requisite power and authority to execute, deliver and perform this Agreement, (b) the execution, delivery and performance of this Agreement has been duly authorized by all necessary corporate or other action, (c) it has duly and validly executed and delivered this Agreement, and (d) this Agreement is a legal, valid and binding obligation, enforceable against it and its Affiliates in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors' rights generally and general equity principles.

# 10.11 Construction of Agreement.

(a) Where this Agreement states that a party 'will' or 'shall' perform in some manner or otherwise act or omit to act, it means that the party is legally obligated to do so in accordance with this Agreement.

(b) The captions, titles and headings, and table of contents, included in this Agreement are for convenience only, and do not affect this Agreement's construction or interpretation. When a reference is made in this Agreement to an Article or a Section, exhibit or schedule, such reference will be to an Article or Section of, or an exhibit or schedule to, this Agreement unless otherwise indicated.

(c) This Agreement is for the sole benefit of the parties and does not, and is not intended to, confer any rights or remedies in favor of any Person (including any employee or equity holder of a party) other than the parties signing this Agreement.

(d) The words 'including,' 'includes,' or 'include' are to be read as listing non-exclusive examples of the matters referred to, whether or not words such as 'without limitation' or 'but not limited to' are used in each instance.

(e) Any reference in this Agreement to the singular includes the plural where appropriate. Any reference in this Agreement to the masculine, feminine or neuter gender includes the other genders where appropriate.

(f) Unless otherwise expressly specified, all references in this Agreement or any Ancillary Agreement to 'dollars' or '$' means United States Dollars. If any payment required to be made hereunder is denominated in a currency other than United States Dollars, such payment will be made in United States Dollars.

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(g) Any reference in this Agreement to a “member” of a Group means a party to this Agreement or another Person referred to in the definition of Aurox Group.

Signature Page to Follow

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IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its behalf by a duly authorized officer on the day and year first above written.

AUROX, LLC

By: /s/ Giorgi Khazaradze

Name: Giorgi Khazaradze

Title: CEO

By: /s/ Taras Motsnyy

Name: Taras Motsnyy

Title: Partner/Co-Founder

By: /s/ Ziga Naglic

Name: Ziga Naglic

Title: Partner/Co-Founder

AUROX HOLDINGS INC.

By: /s/ Giorgi Khazaradze

Name: Giorgi Khazaradze

Title: CEO

E-13

# Schedule A
Corporation Technology

Software, specifications, drawings, records, documentation, works of authorship or other creative works, ideas, knowledge, know-how, trade secrets, invention disclosures or other data including works subject to Copyrights and specifically including the following:

- The entirety of the Aurox Terminal. Including but not limited to proprietary indicators, backend data services, and artificial intelligence algorithms.
- Aurox website, and social media accounts (LinkedIn, Twitter, Facebook, Telegram, Discord, etc..)
- Aurox user emails, and other user data.
- Aurox traffic and analytics information.
- Aurox Mobile application
- Aurox DeFi smart contracts for Aurox Trade and Aurox Lend
- Promotional materials and marketing files.

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# Exhibit F

## Token License Agreement

This Token License Agreement (this “**Agreement**”), effective as of November [__], 2022 (the “**Effective Date**”), is by and between SWT Development Limited, a Limited Liability Company incorporated in Masdar City, Abu Dhabi, United Arab Emirates (“**SWT**”), Mr. Ziga Naglic, an individual resident in Dubai, United Arab Emirates (“**Mr. Naglic**,” and together with SWT, the “**Licensor Parties**”) and Aurox Holdings, Inc., a Nevada Corporation (“**Aurox**” or the “**Licensee**”). SWT, Mr. Naglic and Licensee may be referred to herein collectively as the “**Parties**” or each individually as a “**Party**.”

**WHEREAS**, SWT is wholly-owned and controlled by Mr. Naglic, who also serves as SWT’s sole director; and

**WHEREAS**, Mr. Naglic also serves as the Co-Founder, Chief Technology Officer, Secretary and Director of Aurox; and

**WHEREAS**, Licensor Parties own all legal rights and benefits to the Aurox Token, SURUS (the “**Aurox Token**”), by virtue of having control over the wallet Private Keys and the Token Assets (both as defined below); and

**WHEREAS**, Licensee wishes to obtain from Licensor Parties, and Licensor Parties wish to provide to Licensee, a license to the Aurox Token, Private Keys and Token Intellectual Property (as defined below) (the “**License**”) for use of the Aurox Token as a Utility Token within the Aurox Ecosystem, both as defined below, subject to the terms and conditions of this Agreement.

**NOW, THEREFORE**, in consideration of the mutual covenants, terms, and conditions set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

# 1. Definitions.

(a) “**Applications**” means any applications developed by Licensee to interact with the Aurox Token within the Aurox Ecosystem.

(b) “**Aurox Ecosystem**” means the suite of products, offerings and services provided by Aurox at present and in the future.

(c) “**Private Keys**” means the secret numbers and related wallet addresses that control 10% of the supply for marketing and 15% of the aggregate supply of the Aurox Token.

(d) “**Territory**” means the World.

(e) “**Token Intellectual Assets**” means any and all technology, computer code, written documentation, data (broadly defined), licenses, knowledge, knowhow and all associated rights therewith, whether now known or developed at any time after the date

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hereof, with respect to, associated with or relating to the Aurox Token, whether arising under law, equity or industry practice, in any and all jurisdictions worldwide.

(f) **“Token Intellectual Property”** means any and all intellectual property, whether now known or developed at any time after the date hereof, including but not limited to patents, trademarks or applications, pending, filed or contemplated in respect thereof, with respect to, associated with or relating to the Aurox Token, whether arising under law, equity or industry practice, in any and all jurisdictions worldwide.

(g) **“Token Licensor Marks”** means Licensor’s proprietary trademarks, trade names, branding, or logos made available for use in connection with the Aurox Token pursuant to this Agreement.

(h) **“Token Licensor Offering”** means the Aurox Token, and all associated technology, software, hardware, products, services or offerings, whether now known or developed at any time after the date hereof, associated therewith, for avoidance of doubt defined broadly and with respect to all relevant jurisdictions worldwide, not constituting Token Intellectual Property or Token Intellectual Assets.

(i) **“Token Assets”** means collectively the Private Keys, Token Intellectual Property, Token Intellectual Assets, Token Licensor Offering and Token Licensor Marks.

(j) **“Utility Token”** means a digital asset serving a use case within a specific ecosystem.

## 2. License.

(a) **License Grant.** Subject to the terms and conditions set forth in this Agreement, the Licensor Parties hereby grant Licensee, its affiliates and assigns, a, non-revocable, exclusive, transferable, perpetual License in the Territory during the Term of the Agreement to: (i) use the Aurox Token and Token Assets for any lawful purpose including, but not limited to, within the Aurox Ecosystem to provide utility with regard to the Aurox Wallet and Aurox Terminal; (ii) permit users within the Aurox Ecosystem to use the Aurox Token in compliance with the guidelines established by the Licensee; (iii) display certain Licensor Marks in connection with the use of the Aurox Token and in connection with the advertising, promotion, distribution, and sale of Aurox products and services; and (iv) for any and all purposes deemed commercially necessary or beneficial by the Licensee.

(b) **Licensor Restrictions.** Without limiting the foregoing and except as expressly set forth in this Agreement, the Licensor Parties shall not any time, and shall not permit others to, without the prior written consent of the Licensee: (i) disclose, transfer, sell, encumber or otherwise dispose of the Private Keys; (ii) establish an arrangement or otherwise enter into an agreement for the Aurox Token to be listed on an exchange other the KuCoin.com; (iii) modify or create derivative works of the Aurox Token or the Token Assets, in whole or in part; (iv) sell, sublicense, assign, distribute, transfer, or otherwise make available this License to the Aurox Token or the Token Assets; (v) reverse engineer, disassemble, decompile, decode, adapt, or otherwise attempt to derive or gain access to any

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software component of the Aurox Token or the Token Assets, in whole or in part; (vi) misuse the Aurox Token or the Token Assets in any manner or for any purpose that infringes, misappropriates, or otherwise violates any intellectual property right or other right of any person, or that violates any applicable law; or (vii) use the Aurox Token or the Token Assets in any attempt to replicate or attempt to replace the user experience of the Token Licenser Offering.

# 3. Licensee Responsibilities.

(a) Licensee shall comply with all terms and conditions of this Agreement, all applicable U.S. laws, rules, and regulations, and all guidelines, standards, and requirements. Licensee shall use its best efforts to monitor the use of the Aurox Token and the Token Assets by Licensee and its users for any activity that violates applicable U.S. laws, rules, and regulations or any terms and conditions of this Agreement, including any fraudulent, inappropriate, or potentially harmful behavior. Licensee is solely responsible for posting any required notices and obtaining any consents from Licensee's end users required under applicable U.S. laws, rules, and regulations for their use of the Aurox Token and the Token Assets.

(b) Licensee will use commercially reasonable efforts to safeguard the Aurox Token and Token Assets (including all copies thereof) from infringement, misappropriation, theft, misuse, or unauthorized access. Licensee will promptly notify Licenser if Licensee becomes aware of any infringement of any intellectual property rights in the Token Assets and will fully cooperate with Licenser in any legal action taken by Licenser to enforce Licenser's intellectual property rights.

(c) Licensee shall be responsible for the preparation, filing, prosecution, and maintenance of any patent or trademark filings made with the U.S. Patent and Trademark Office or other similar agency outside the U.S., with respect to which Licensee possesses exclusive rights pursuant to this Agreement and the Licenser Parties shall cooperate with Licensee with same as reasonably requested by Licensee.

(d) Licensee shall be responsible for paying all maintenance and prosecution fees, costs, and expenses with respect to the Token Assets except to the extent any such fees, costs and expenses are reimbursed or otherwise paid by a Third Party licensee or sub-licensee.

(e) Licensee shall have the right, but not the obligation, at its sole option and expense and for its sole benefit, and shall have the right to grant such right to a sub-licensee, to prosecute suits by reason of infringement or misappropriation of any of the Token Assets within the scope of the license granted to Licensee under this Agreement, and, if necessary, shall have the right to join Licenser Parties in any such suit as a formal party and receive Licenser Parties' cooperation with same, for which Licenser Parties shall bear its own costs, expenses, and legal fees.

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# 4. Fees and Mutual Consideration.

(a) No Fee. During the Term, Licensee shall have no obligation to pay to Licensor or Mr. Naglic any fee, including any royalties, for Licensee's or Licensee's users' use of the Aurox Token or the Token Assets.

(b) Employment Status. Licensor further acknowledges that Mr. Naglic's continued employment is not a condition and does not serve as consideration in respect of the Term or any other provision or aspect of this Agreement.

(c) Taxes. All other amounts payable by Licensee under this Agreement are exclusive of taxes and similar assessments. Licensee is responsible for all sales, use, and excise taxes, and any other similar taxes, duties, and charges of any kind imposed by any federal, state, or local governmental or regulatory authority on any amounts payable by Licensee hereunder, other than any taxes imposed on Licensor's income.

5. Confidential Information. From time to time during the Term, either Party may disclose or make available to the other Party information about its business affairs, products, confidential intellectual property, trade secrets, third-party confidential information, and other sensitive or proprietary information, whether orally or in written, electronic, or other form or media/in written or electronic form or media, whether or not marked, designated, or otherwise identified as 'confidential' (collectively, '**Confidential Information**'). Confidential Information does not include information that, at the time of disclosure is: (a) in the public domain; (b) known to the receiving Party at the time of disclosure; (c) rightfully obtained by the receiving Party on a non-confidential basis from a third party; or (d) independently developed by the receiving Party. The receiving Party shall not disclose the disclosing Party's Confidential Information to any person or entity, except to the receiving Party's employees who have a need to know the Confidential Information for the receiving Party to exercise its rights or perform its obligations hereunder. Notwithstanding the foregoing, each Party may disclose Confidential Information to the limited extent required (i) in order to comply with the order of a court or other governmental body, or as otherwise necessary to comply with applicable law, provided that the Party making the disclosure pursuant to the order shall first have given written notice to the other Party and made a reasonable effort to obtain a protective order; or (ii) to establish a Party's rights under this Agreement, including to make required court filings. On the expiration or termination of the Agreement, the receiving Party shall promptly return to the disclosing Party all copies, whether in written, electronic, or other form or media, of the disclosing Party's Confidential Information, or destroy all such copies and certify in writing to the disclosing Party that such Confidential Information has been destroyed. Each Party's obligations of non-disclosure with regard to Confidential Information are effective as of the Effective Date and will expire five years from the date first disclosed to the receiving Party; provided, however, with respect to any Confidential Information that constitutes a trade secret (as determined under applicable law), such obligations of non-disclosure will survive

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the termination or expiration of this Agreement for as long as such Confidential Information remains subject to trade secret protection under applicable law.

6. Representation and Warranties of Licensor and Naglic. The Licensor and Naglic, jointly and severally, represent and warrant that:

(a) the Aurox Token and the Token Assets identified on Exhibit A are all the crypto assets and intellectual property owned by the Licensor Parties that are necessary or useful for Licensee to use, make, offer to sell, sell, and otherwise use or dispose of the Aurox Token and the Token Assets in the Territory;

(b) they are the sole and exclusive owners of the entire right, title, and interest in and to the Token Assets;

(c) the execution and performance of Licensor’s obligations under this Agreement do not conflict with, cause a default under, or violate any existing contractual obligation that may be owed by Licensor to any third party;

(d) the Licensor Parties have, and throughout the Term will retain, the right to grant the License granted to Licensee hereunder, and each has not granted, and is not under any obligation to grant, to any third party any License, lien, option, encumbrance, or other contingent or non-contingent right, title, or interest in or to the Aurox Token or the Token Assets that conflicts with the rights and Licenses granted to Licensee hereunder;

(e) Licensor has complied in all respects with all applicable laws in connection with the Token Assets including any disclosure requirements of any and all US and foreign governmental agencies, and has timely paid all filing and renewal fees payable with respect thereto; and

(f) there is no settled, pending, or threatened litigation, claim, or proceeding alleging that the Aurox Token or any Token Assets are invalid or unenforceable (including any infringement claim, interference, nullity, opposition, inter partes, or post-grant review or similar invalidity or patentability proceedings before the US Patent and Trademark Office or any foreign patent office), and each has no knowledge after reasonable investigation of any factual, legal, or other reasonable basis for any such litigation, claim, or proceeding.

7. Intellectual Property Ownership of the Parties. Licensee acknowledges that, as between Licensee and the Licensor Parties, (a) the Licensor Parties own all right, title, and interest, including all intellectual property rights, in and to the Aurox Token and the Token Assets, and (b) Licensee owns all right, title, and interest, including all intellectual property rights, in and to the Aurox Ecosystem and all aspects thereof.

8. Licensor Parties Authentication. The Licensor Parties agree to take all steps needed to provide to Licensee confirmation of: (i) possession of the address of the wallet which deployed the contract reflecting ownership of the Aurox Token; and (ii) the wallet addresses which hold the Aurox Tokens and the Aurox Tokens for marketing purposes. The Licensor Parties shall provide

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to Licensee the cryptographic signatures needed to confirm and authenticate the possession of the addresses specified in sections 8(i) and (ii).

# 9. Term and Termination.

(a) Term. The term of this Agreement begins on the Effective Date and, unless terminated earlier pursuant to any of the Agreement's express provisions, will continue in effect for a period of thirty (30) years from such date (the '**Initial Term**') and shall automatically renew, in perpetuity, for further thirty (30) years terms until and unless terminated earlier pursuant to any of the Agreement's express provisions (the '**Term**').

# (b) Termination.

(i) Licensor may terminate or suspend this Agreement solely in the event of documented and ongoing violation of this Agreement by the Licensee or in the event of the Licensee's gross negligence or willful misconduct.

(ii) Licensee may terminate or suspend this Agreement, for good cause shown, by providing notice to Licensor.

(iii) Either Party may terminate this Agreement, effective on written notice to the other Party, if the other Party materially breaches this Agreement, and such breach: (A) is incapable of cure; or (B) being capable of cure, remains uncured thirty (30) days after the non-breaching Party provides the breaching Party with written notice of such breach.

(iv) Either Party may terminate this Agreement, effective immediately upon written notice to the other Party, if the other Party: (A) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; (B) files, or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; (C) makes or seeks to make a general assignment for the benefit of its creditors; or (D) applies for or has appointed a receiver, trustee, custodian, or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business.

(c) Effect of Expiration or Termination. Upon expiration or termination of this Agreement for any reason all licenses and rights granted to Licensee under this Agreement will also terminate.

(d) Survival. Any terms that by their nature are intended to continue beyond the termination or expiration of this Agreement will survive termination.

10. Purchase Option. For the entire duration of the Term, solely at the Licensee's option, at a time of Licensee's choosing, the Licensee may purchase from the Licensor Parties all rights

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and title to the Aurox Token and the Token Assets, whether existing as of the date of this Agreement or subsequently developed, for a sum of $10.00.

11. **Representation by Counsel.** Each of the Parties agrees that it has been represented by independent counsel of its choice during the negotiation and execution of this Agreement and the documents referred to herein, and that it has executed the same upon the advice of such independent counsel.

# 12. Miscellaneous.

(a) **Entire Agreement.** This Agreement, together with any other documents incorporated herein by reference and all related Exhibits, constitutes the sole and entire agreement of the Parties with respect to the subject matter of this Agreement and supersedes all prior and contemporaneous understandings, agreements, and representations and warranties, both written and oral, with respect to such subject matter. In the event of any inconsistency between the statements made in the body of this Agreement, the related Exhibits, and any other documents incorporated herein by reference, the following order of precedence governs: (a) first, this Agreement, excluding its Exhibits; (b) second, the Exhibits to this Agreement as of the Effective Date; and (c) third, any other documents incorporated herein by reference.

(b) **Notices.** All notices, requests, consents, claims, demands, waivers, and other communications hereunder (each, a '**Notice**') must be in writing and addressed to the Parties at the addresses set forth on the signature page of this Agreement (or to such other address that may be designated by the Party giving Notice from time to time in accordance with this Section). All Notices must be delivered by email (with confirmation of transmission), or certified or registered mail (in each case, return receipt requested, postage pre-paid). Except as otherwise provided in this Agreement, a Notice is effective only: (i) upon receipt by the receiving Party, and (ii) if the Party giving the Notice has complied with the requirements of this Section.

(c) **Amendment and Modification; Waiver.** No amendment to or modification of this Agreement is effective unless it is in writing and signed by an authorized representative of each Party. No waiver by any Party of any of the provisions hereof will be effective unless explicitly set forth in writing and signed by the Party so waiving. Except as otherwise set forth in this Agreement, (i) no failure to exercise, or delay in exercising, any rights, remedy, power, or privilege arising from this Agreement will operate or be construed as a waiver thereof and (ii) no single or partial exercise of any right, remedy, power, or privilege hereunder will preclude any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege.

(d) **Severability.** If any provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or =enforceability will not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal, or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to affect the original intent of the Parties as closely as

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possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

(e) Governing Law and Jurisdiction. This agreement is governed by and construed in accordance with the internal laws of the State of Nevada without giving effect to any choice or conflict of law provision or rule that would require or permit the application of the laws of any jurisdiction other than those of the State of Nevada. Any legal suit, action, or proceeding arising out of or related to this Agreement or the licenses granted hereunder will be instituted exclusively in the federal courts of the United States or the courts of the State of Texas, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action, or proceeding.

(f) Assignment. Licensee may not assign or transfer any of its rights or delegate any of its obligations hereunder, in each case whether voluntarily, involuntarily, by operation of law, or otherwise, without the prior written consent of Licensor, which consent shall not be unreasonably withheld, conditioned, or delayed. Any purported assignment, transfer, or delegation in violation of this Section is null and void. No assignment, transfer, or delegation will relieve the assigning or delegating Party of any of its obligations hereunder. This Agreement is binding upon and inures to the benefit of the Parties hereto and their respective permitted successors and assigns.

(g) Equitable Relief. Each Party acknowledges and agrees that a breach or threatened breach by such Party of any of its obligations under 5 or, in the case of Licensee, Section 2(b), would cause the other Party irreparable harm for which monetary damages would not be an adequate remedy and agrees that, in the event of such breach or threatened breach, the other Party will be entitled to equitable relief, including a restraining order, an injunction, specific performance, and any other relief that may be available from any court, without any requirement to post a bond or other security, or to prove actual damages or that monetary damages are not an adequate remedy. Such remedies are not exclusive and are in addition to all other remedies that may be available at law, in equity, or otherwise.

(h) Counterparts. This Agreement may be executed in counterparts, each of which is deemed an original, but all of which together are deemed to be one and the same agreement.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the Effective Date.

SWT Development Limited

Aurox Holdings, Inc.

By: /s/ Ziga Naglic

By: /s/ Giorgi Khazaradze

Name: Ziga Naglic

Name: Giorgi Khazaradze

Title: Director

Title: CEO

Address: VD - Ground Floor,

Address: 4514 Cole Avenue,

Accelerator Building,

Suite 600,

Masdar City,

Dallas,

Abu Dhabi,

Texas, 75205,

UAE

USA

Mr. Ziga Naglic, in his capacity as an individual

/s/ Ziga Naglic

Address: Circe 30, 4000 Kranj, Slovenia

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# **Exhibit A**

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### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** Aurox Holdings Inc.

**Legal Status:** Corporation

**Jurisdiction of Incorporation/Organization:** NV

**Date of Organization:** 11-30-2021

**Physical Address:** 4514 Cole Avenue, Suite 600, Dallas, TX, 75205

**Issuer Website:** https://getaurox.com

**Is there a Co-Issuer?:** No

**Intermediary Name:** TZERO MARKETS, LLC

**Intermediary CIK:** 0001779408

**Intermediary File Number:** 008-70355

**Intermediary CRD Number:** 000304537

### Offering Information

**Compensation to Intermediary:** 1% of all sums raised in this offering plus a $40,000 consulting fee and a $10,000 diligence fee

**Financial Interest in Issuer:** N/A

**Type of Security Offered:** Common Stock

**Number of Securities Offered:** 169000

**Price per Security:** $6.00

**Target Offering Amount:** $250,000.00

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** Other

**Description of Oversubscription:** At the discretion of the company

**Maximum Offering Amount:** $5,000,000.00

**Deadline to Reach Target Amount:** 02-16-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 23.00

**Total Assets (Most Recent Fiscal Year):** $4,661,345.00

**Total Assets (Prior Fiscal Year):** $0.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $3,897,291.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $0.00

**Accounts Receivable (Most Recent Fiscal Year):** $0.00

**Accounts Receivable (Prior Fiscal Year):** $0.00

**Short-Term Debt (Most Recent Fiscal Year):** $309,768.00

**Short-Term Debt (Prior Fiscal Year):** $0.00

**Long-Term Debt (Most Recent Fiscal Year):** $0.00

**Long-Term Debt (Prior Fiscal Year):** $0.00

**Revenues/Sales (Most Recent Fiscal Year):** $0.00

**Revenues/Sales (Prior Fiscal Year):** $0.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $0.00

**Cost of Goods Sold (Prior Fiscal Year):** $0.00

**Taxes Paid (Most Recent Fiscal Year):** $0.00

**Taxes Paid (Prior Fiscal Year):** $0.00

**Net Income (Most Recent Fiscal Year):** $-473,423.00

**Net Income (Prior Fiscal Year):** $0.00

**Jurisdictions Offered:**

ALABAMA, ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND, MASSACHUSETTS, MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, PR, RHODE ISLAND, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING

### Signatures

**Issuer:** Aurox Holdings Inc.

**Signature:** Giorgi Khazaradze

**Title:** CEO

---

**Signature:** Giorgi Khazaradze

**Title:** CEO

**Date:** 01-20-2023