# EDGAR Filing Document

**Accession Number:** 0001955926
**File Stem:** 0001493152-23-003453
**Filing Date:** 2023-2
**Character Count:** 410969
**Document Hash:** 7c90035cb05a27fa29a337108e8e7748
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-003453.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0001493152-23-003453

**CONFORMED SUBMISSION TYPE**: 1-A/A

**PUBLIC DOCUMENT COUNT**: 41

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EthicStream Inc.
- **CENTRAL INDEX KEY:** 0001955926
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **IRS NUMBER:** 884119521
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-A/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12078
- **FILM NUMBER:** 23583567

**BUSINESS ADDRESS:**
- **STREET 1:** 500 WEST PUTNAM AVENUE
- **STREET 2:** SUITE 400
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 4752782586

**MAIL ADDRESS:**
- **STREET 1:** 500 WEST PUTNAM AVENUE
- **STREET 2:** SUITE 400
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

## Part

**PART II – INFORMATION REQUIRED IN OFFERING CIRCULAR**

**ITEM 1.**

**COVER PAGE OF PRELIMINARY OFFERING CIRCULAR**

An offering statement pursuant to Regulation A (17 CFR 230.251, *et seq.*) relating to the securities described herein (the "Securities") has been filed with the U.S. Securities and Exchange Commission. Information contained in this preliminary offering circular (the "Preliminary Offering Circular") is subject to completion or amendment. The Securities may not be sold nor may offers to buy be accepted before the Offering Statement is qualified. This Preliminary Offering Circular will not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sales of the Securities in any state in which such offer, solicitation or sale would be unlawful before registration or qualification under the laws of any such state. The issuer of the Securities may elect to satisfy its obligation to deliver a final offering circular ("Final Offering Circular") by sending you a notice within two business days after the completion of its sale to you that contains the uniform resource locator where the Final Offering Circular or the Offering Statement in which such Final Offering Circular was filed may be obtained.

Preliminary Offering Circular (Subject to Completion) February 2, 2023

**APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO PUBLIC:**

**As soon as practicable after the date as of which the Offering Statement (as defined below) has been qualified by the Commission**

![](partiiandiii_001.jpg)

**EthicStream Inc.**

500 West Putnam Avenue, Suite 400

Greenwich, CT 06830

+1.475.278.2586

<u>www.ethicstream.io</u> (the contents of which do not constitute part of this Offering Circular)

**Up to 1,000,000 Shares of Class A Common Stock**

**Aggregate Offering Price: $10,000,000**

**Minimum Investment: $500 (50 Shares)**

EthicStream Inc., a Delaware corporation ("***we***," "***us***," "***our***," or the "***Company***"), is conducting a Regulation A Tier 2 offering (this "***Offering***") of shares of its Class A common stock (each, a "***Class A Share***"), par value $0.0001 per share (the "***Class A Common Stock***"), subject to the conditions set forth in "Securities Being Offered." The number of Class A Shares covered by this Offering is 1,000,000, which we are offering for sale to investors at a fixed price of $10.00 per Class A Share (the "***Offering Price***"). The minimum purchase per investor is $500.00 (50 Class A Shares). Additional purchases may be made in multiples of $10.00 (1 Class A Share). No investor will be entitled to a fractional Class A Share. If the purchase price paid, divided by the Offering Price, results in a number of Class A Shares that is not a whole number, the number of Class A Shares to which the investor is entitled will be rounded down to the nearest whole number.

This Offering is not subject to the sale of any minimum number of Class A Shares. The Company has engaged DealMaker Securities LLC, member FINRA/SIPC (the "***Broker***"), as broker-dealer of record, to perform broker-dealer administrative and compliance related functions in connection with this Offering, but not for underwriting or placement agent services. Once the Commission has qualified the Offering Statement and this Offering commences, the Broker will receive a cash commission equal to one percent (1%) of the amount raised in this Offering. Additionally, the Broker and its affiliates will receive certain other fees, estimated to total $700,000. See "Plan of Distribution" for more details. No Company officer or director who introduces friends, family members and business acquaintances to any selling agent in this Offering will receive commissions or any other remuneration from any such sales.

Offers and sales of the Class A Shares will commence within two calendar days after the date (the "***Qualification Date***") as of which the Commission qualifies the offering statement (the "***Offering Statement***") related to this offering circular (this "***Offering Circular***"). The Class A Shares are being offered for sale on a continuous basis, pursuant to Rule 251(d)(3)(i)(F) of Regulation A ("***Regulation A***") under the Securities Act of 1933 (the "***Securities Act***"), until the earliest of (i) the 180<sup>th</sup> day after the Qualification Date (though we may, in our sole discretion, extend this Offering one or more times), (ii) the date as of which all Class A Shares offered by this Offering Circular have been sold and (iii) any such earlier time as we may determine in our sole discretion, regardless of the number of Class A Shares sold and the amount of capital raised. If we sell all of the 1,000,000 Class A Shares that we are offering for sale, our gross proceeds will be $10,000,000. All funds raised will become available to us and will be used as described under "Use of Proceeds." Investors are advised that unless their subscriptions are rejected, they will not be entitled to a return of their subscription funds and could lose their entire investment.

**If any subscriptions are rejected, the associated sale proceeds will be returned to the related investors, without interest. Otherwise, because this Offering is not conditioned on the sale of any minimum number of Class A Shares, proceeds from the sale of Class A Shares will be retained by the Company.**

**Generally, no sale may be made to you in this Offering if the aggregate purchase price you pay is more than 10% of the greater of your annual income or net worth. Different rules apply to accredited investors and non-natural persons. Before making any representation that your investment does not exceed applicable thresholds, we encourage you to review Rule 251(d)(2)(i)(C) of Regulation A. For general information on investing, we encourage you to visit <u>www.investor.gov</u>.**

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Title and Class of<br> Securities to be Offered**  | **Maximum Number of Shares of Class A Common Shares to be Offered<sup>(1)</sup>** | **Offering Price per Share of Class A Common Stock (Plus Transaction Fee)<sup>(2)</sup>** | **Maximum Aggregate Offering Proceeds<sup>(2)</sup>** | **Estimated Commissions, <sup>(3)</sup>** | **Proceeds to the Company before Expenses<sup>(4)</sup>** |
| Class A Common Stock | 1000000 | $10.45 | $10450000 | $100000 | $10350000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) All
 amounts in this chart and this Offering Circular are in U.S. dollars unless otherwise indicated. Certain sections of this Offering
 Circular use Canadian dollars, prefaced, when appropriate, with "C$."

&nbsp;&nbsp;&nbsp;&nbsp;(2) At
 the time of the related subscription, each investor will be required to pay the Company a $45 investor processing fee ("  ***Transaction Fee***") to help offset certain transaction expenses for which the Company is required to pay or reimburse affiliates
 of the Broker, as described in footnote (3) below. In the table above, the figures for "Offering Price per Share of Class A
 Common Stock (Plus Transaction Fee)" and the "Maximum Aggregate Offering Proceeds" assume that (i) each investor
 invests *only* the $500 minimum investment amount, plus a $45 Transaction Fee, for an effective per-share price of $10.45,
 and (ii) all investors in the aggregate, in an offering that is fully subscribed, pay the Company a total of $450,000 in Transaction
 Fees. Neither the Broker nor its affiliates will receive any cash commission on Transaction Fees, but they will receive fees with
 respect to payment processing. See "Plan of Distribution" for more details.

(3) The
 Class A Shares are being offered on a best efforts basis directly by the Company and pursuant to an agreement entered into with the
 Broker. For performing broker-dealer administrative
 and compliance related functions in connection with this Offering, the Broker will receive a cash commission in the amount of one
 percent (1%) of the amount raised in this Offering and a one-time $85,000 advance against accountable expenses. The Company will
 pay Novation Solutions Inc. O/A DealMaker ("  ***DealMaker***") and DealMaker Reach, LLC ("  ***Reach*** "),
 affiliates of the Broker, additional fees for using DealMaker's online subscription processing platform, including monthly
 maintenance, subscription, and payment processing fees, and for marketing advisory services. Please
 see "Plan of Distribution" section of this Offering Circular for additional information. The proceeds of this Offering
 may be deposited directly into the Company's operating account for its immediate use, with no obligation to refund subscriptions.
 There is no escrow established for this Offering .

(4) The
 amount shown does not account for non-commission Offering expenses, which may include legal, accounting, marketing, consulting, and
 other costs incurred in undertaking this Offering .
 The Company estimates that it will pay $773,500 in other Offering expenses, not including commissions or state filing fees.

**THE OFFERING AND SALE OF THE CLASS A SHARES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF CERTAIN STATES. THE CLASS A SHARES ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH STATE LAWS. THE CLASS A SHARES MAY BE SUBJECT IN VARIOUS STATES TO RESTRICTION ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND SUCH STATE LAWS PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. THE CLASS A SHARES HAVE BEEN NEITHER APPROVED NOR DISAPPROVED BY THE COMMISSION, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE OFFERING CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.**

The Company is an early-stage company. As of the date of this Offering Circular, no public market exists for the Class A Shares, and no such public market may ever develop. If it does, it may not be sustained. Although we are considering whether to apply to list on a stock exchange or other trading platform, the Class A Common Stock is not currently traded on any exchange or on the over-the-counter market, and we can provide no assurance that the Class A Shares will ever be quoted on a stock exchange or a quotation service. We anticipate that proceeds from this Offering will be employed as outlined in the "Use of Proceeds" and "Description of Business" sections of this Offering Circular. For more information on the Class A Shares, see "Securities Being Offered."

**These are speculative securities. Investing in them involves significant risks. You should invest in them only if you can afford a complete loss of your investment. See "Risk Factors" beginning on page 7.**

This Offering Circular follows the offering circular disclosure format of Part II of Form 1-A.

**Offering Circular Dated February__, 2023** 

 ****

***Implications of being an Emerging Growth Company***

As an issuer (1) that had less than $1.07 billion in total gross revenues during our last fiscal year and (2) that has neither (A) issued more than $1 billion on non-convertible debt in the past three years nor (B) become a "large accelerated filer," as defined in Rule 12b-2 of the Securities Exchange Act of 1934 (the "***Exchange Act***"), we will qualify as an "emerging growth company" under the Jumpstart Our Business Startups Act of 2012 (the "***JOBS Act***"). This qualification will be significant if and when we become subject to the ongoing reporting requirements of the Exchange Act. An emerging growth company may take advantage of certain reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable to public companies. In particular, as an emerging growth company, we:

● will not be required to obtain an auditor attestation on our internal controls over financial reporting pursuant to the Sarbanes-Oxley Act of 2002;

● will not be required to provide a detailed narrative disclosure discussing our compensation principles, objectives and elements analyzing how these elements compare with our principles and objectives (commonly referred to as "compensation discussion and analysis");

● will not be required to obtain a non-binding advisory vote from our stockholders on executive compensation or golden parachute arrangements;

● will be exempt from certain executive compensation disclosure provisions requiring a pay for performance graph and CEO pay ratio disclosure; and

● may present only two years of financial statements and only two years of related management's discussion and analysis of financial condition and results of operations (or MD&A) disclosure.

We intend to take advantage of all these reduced reporting requirements and exemptions, including the longer phase-in periods for the adoption of new or revised financial accounting standards, and hereby elect to do so. Our election to use the phase-in periods may make it difficult to compare our financial statements to those of non-emerging growth companies and other emerging growth companies that have opted out of the phase-in periods under Section 107 of the JOBS Act.

Under the JOBS Act, we may take advantage of the above-described reduced reporting requirements and exemptions for up to five years after our initial sale of common equity pursuant to a registration statement declared effective under the Securities Act or until such earlier time, if any, as we no longer meet the definition of an emerging growth company. We would no longer be an emerging growth company if our revenues exceeded $1.07 billion; if we issued more than $1.0 billion in nonconvertible debt in a three-year period; or if the Company qualified as a "large accelerated filer" under the as defined in Rule 12b-2 of the Exchange Act.

THIS OFFERING CIRCULAR MAY NOT BE REPRODUCED IN WHOLE OR IN PART, AND ITS USE FOR ANY PURPOSE OTHER THAN AN INVESTMENT IN THE SECURITIES IS NOT AUTHORIZED AND IS PROHIBITED.

THIS OFFERING IS SUBJECT TO WITHDRAWAL OR CANCELLATION BY THE COMPANY AT ANY TIME AND WITHOUT NOTICE. THE COMPANY RESERVES THE RIGHT IN ITS SOLE DISCRETION TO REJECT ANY SUBSCRIPTION IN WHOLE OR IN PART NOTWITHSTANDING TENDER OF PAYMENT OR TO ALLOT TO ANY PROSPECTIVE INVESTOR LESS THAN THE NUMBER OF SECURITIES SUBSCRIBED FOR BY SUCH INVESTOR.

THE OFFERING PRICE OF THE SECURITIES HAS BEEN DETERMINED BY THE COMPANY AND DOES NOT NECESSARILY BEAR ANY SPECIFIC RELATION TO THE ASSETS, BOOK VALUE OR POTENTIAL EARNINGS OF THE COMPANY OR ANY OTHER RECOGNIZED CRITERIA OF VALUE.

**<u>ADVICE OF FORWARD-LOOKING STATEMENTS</u>**

**Certain statements in this Offering Circular constitute forward-looking statements. When used in this Offering Circular, the words "may," "will," "should," "project," "anticipate," "believe," "estimate," "intend," "expect," "continue," and similar expressions or the negatives thereof are generally intended to identify forward-looking statements.**

These forward-looking statements are based on our current assumptions, expectations, and beliefs and are subject to substantial risks, estimates, assumptions, uncertainties, and changes in circumstances that may cause our actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement, including, among others, the profitability of the business. Such statements, including the intended actions and performance objectives of the Company, involve known and unknown risks, uncertainties, and other important factors that could cause the actual results, performance, or achievements of the Company to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. No representation or warranty is made as to future performance or such forward-looking statements. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectation with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.

**You should not place undue reliance on these forward-looking statements.** Our actual results could differ materially from those that we anticipate and that are expressed or implied by the use of such forward-looking statements and, for many reasons, are subject to certain risks. All forward-looking statements in this Offering Circular speak only as of the date of this Offering Circular, based on information available to us (taking into consideration that certain information is unknown or not available to us) as of the date hereof. We assume no obligation, except as required by law, to update any forward-looking statement or information contained in this Offering Circular.

**ITEM 2.**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [**ITEM 1. COVER PAGE OF PRELIMINARY OFFERING CIRCULAR**](#ba_001) | 1 |
| [**ITEM 2. **TABLE OF CONTENTS****](#ba_002) | 6 |
| [**ITEM 3. SUMMARY OF OFFERING**](#ba_003) | 7 |
| [**ITEM 4. DILUTION**](#ba_004) | 13 |
| [**ITEM 5. PLAN OF DISTRIBUTION**](#ba_005) | 14 |
| [**ITEM 6. USE OF PROCEEDS**](#ba_006) | 19 |
| [**ITEM 7. DESCRIPTION OF BUSINESS**](#ba_007) | 20 |
| [**ITEM 8. DESCRIPTION OF PROPERTY.**](#ba_008) | 23 |
| [**ITEM 9. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**](#ba_009) | 24 |
| [**ITEM 10. DIRECTORS AND MANAGEMENT**](#ba_010) | 28 |
| [**ITEM 11. COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS**](#ba_011) | 30 |
| [**ITEM 12. SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS**](#ba_012) | 30 |
| [**ITEM 13. INTEREST OF MANAGEMENT IN CERTAIN TRANSACTIONS**](#ba_013) | 31 |
| [**ITEM 14. SECURITIES BEING OFFERED**](#ba_014) | 32 |
| [**LEGAL MATTERS**](#ba_015) | 33 |
| [**EXPERTS**](#ba_016) | 33 |
| [**PART F/S. REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**](#ba_017) | 34 |
| [**ITEM 16/17. INDEX TO EXHIBITS/DESCRIPTION OF EXHIBITS**](#ba_018) | 35 |

---

**ITEM 3.**

**SUMMARY OF OFFERING**

*This Summary of Offering highlights information contained elsewhere in this Offering Circular and does not contain all of the information you should consider before investing in the Class A Shares. Before making an investment decision, you should read the entire Offering Circular carefully, including the "Risk Factors" section, the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section, the financial statements, and the notes to the financial statements.*

 

***An investment in the Class A Shares presents substantial risks and you could lose all or substantially all of your investment.***

EthicStream Inc. is a Delaware corporation formed on April 28, 2022. We aim to provide corporate emitters with a complete, custom-tailored solution to their carbon emissions needs. Anchored by a technology that provides a clear picture of each emitter's carbon footprint and an exclusive streaming platform for distributing carbon offsets into the marketplace, we create value for stockholders interested in the climate finance and emissions solutions sector, without the investor needing to learn all the nuances of the carbon crediting market. In addition to performing environmental, social, and corporate governmental ("***ESG***") consulting services, we have signed a letter of intent ()"***Letter of Intent****")* with CarbonEthic Holdings, Inc. ("***CarbonEthic***"), a Canadian carbon credit manufacturing company that is currently developing a forest-based carbon offset project that would be the largest such project in the western hemisphere and one of the largest in the world. Pursuant to the Letter of Intent, the Company and CarbonEthic plan to enter into a carbon credit purchase and sale agreement ("***Streaming Agreement***") that, upon execution would entitle the Company to purchase carbon credits from CarbonEthic at a significant discount and to resell them at market prices to the buyer of EthicStream's choosing, which may include without limitation institutional investors, asset managers, or corporate clients looking to meet ESG or climate targets.

The Company is hereby offering for sale, on a "best efforts" basis, up to 1,000,000 Class A Shares, subject to the conditions set forth in "Plan of Distribution" and "Securities Being Offered." As of the date of this Offering Circular, there is no public market for the Company's securities, and no such public market may ever develop. An investment in the Class A Shares involves a high degree of risk. You should purchase Class A Shares only if you can afford to lose your entire investment (see "Risk Factors" beginning on page 7 of this Offering Circular).

Offers and sales of the Class A Shares will commence within two calendar days after the Qualification Date. The Company will offer the Class A Shares for sale until the earliest of (i) the 180<sup>th</sup> day after the Qualification Date (though we may, in our sole discretion, extend this Offering one or more times), (ii) the date as of which all Class A Shares offered by this Offering Circular have been sold and (iii) any such earlier time as we may determine in our sole discretion, regardless of the number of Class A Shares sold and the amount of capital raised. The period during which the Company is offering Class A Shares for sale is referred to in this Offering Circular as the "***Offering Period***." During the Offering Period, unless the terms of this Offering are revised, the Company is offering for sale to investors, at $10.00 per Share, up to 1,000,000 Class A Shares with an aggregate Offering Price of $10,000,000 (see "Plan of Distribution"). Unless the Offering Period is terminated earlier in accordance with this Offering Circular, this Offering will end on the date on which the Company has accepted subscriptions for 1,000,000 Class A Shares. During the Offering Period (as it may be extended), investor funds, excluding any interest, will be promptly returned if subscriptions are rejected.

The minimum purchase per investor is $500.00 (50 Class A Shares). Additional purchases may be made in multiples of $10.00 (1 Class A Share). No investor will be entitled to a fractional Share. If the purchase price paid, divided by the Offering Price, results in a number of Class A Shares that is not a whole number, the number of Class A Shares to which the investor is entitled will be rounded down to the nearest whole number.

**Tier 2 Reporting Requirements**

As the Company is conducting this Offering pursuant to Regulation A Tier 2, the Company will be required to file annual, semiannual, and current reports with the Commission on an ongoing basis after the Offering Statement's qualification.

**RISK FACTORS**

**Investing in the Class A Shares involves a high degree of risk and many uncertainties. You should carefully consider the risks described below along with all of the other information contained in this Offering Circular, including our financial statements and the related notes, before deciding whether to purchase the Class A Shares.** If any of the adverse events described in the following risk factors, as well as other factors which are beyond our control, actually occur, our business, results of operations and financial condition may suffer significantly. If and when the Class A Common Stock is approved for quotation on a stock exchange or other trading platform, adverse events such as those described below could cause the trading price of the Class A Shares to decline and could result in your losing all or part of your investment in the Class A Shares.

The Company maintains a strategic relationship with CarbonEthic, with which it is currently negotiating the terms of a Streaming Agreement that, if executed, would enable the Company to purchase carbon credits from CarbonEthic at a substantial discount to market prices (see "Description of the Business"). Given the Company's current reliance on a supply of carbon credits from CarbonEthic, risks to CarbonEthic's business are also risks to the Company, though the Company will diversify its purchases of carbon offsets to include sources other than CarbonEthic. The risk factors below therefore include, where applicable to the Company, risks faced by CarbonEthic. The following is a description of what we consider the key challenges and material risks to our business and an investment in our securities.

**<u>Risks associated with the Company and its business model</u>**

***We depend on key personnel.***

The Company depends to a large degree on the services of its senior management team and managers. The loss or diminution in the services of members of the senior management team or an inability to attract, retain and maintain additional senior management personnel could have a material adverse effect on the ESG consulting services. Competition for personnel with relevant expertise is intense because of the small number of qualified individuals, and that competition may seriously affect the Company's ability to retain its existing senior management and attract additional qualified senior management personnel.

***Purchases of securities of startups, including the Company, involve a high degree of risk.***

Financial and operating risks confronting startups are significant. The Company is not immune to those risks. Startups often experience unexpected problems in the areas of product development, marketing, financing, general management, and market acceptance, among others, which frequently cannot be solved. In addition, startups may require substantial amounts of financing, which may not be available through institutional private placements, the public markets or otherwise.

 ***Risks Relating to Financial Projections***

  ****

The Company's financial projections are subject to significant risks, assumptions, estimates and uncertainties, and actual results may differ materially. These estimates and assumptions include assumptions regarding: the estimates of the price that the Company expects to pay for carbon credits that it acquires; the price that the Company expects to receive when it sells such carbon credits; assumptions regarding current and future customer demand for carbon credits; performance under offtake agreements and carbon credit purchase agreements; anticipated customer agreements; and the Company's ability to continue to source carbon credits and/or projects to generate carbon credits for sales. These estimates and assumptions are subject to various factors beyond the Company's control, including, for example, changes in customer demand, increased costs in the supply chain, price stability of carbon credits, changes in the supply of credits, and changes in the regulatory environment. The Company's financial projections and future performance are based, in part, on such assumptions and estimates, among others; therefore, its future financial condition and results of operations may differ materially from its financial projections.

 ****

***No Assurance of Profitability***

The Company, which was formed on April 28, 2022, has no history of earnings. It is subject to all the business risks and uncertainties associated with starting a new business, including the risk that it will not achieve the financial objectives set by its management. The nature of the Company's business is highly speculative, and investment in the Company entails a consequent risk of loss. The success of the Company's activities will depend on the ability of the Company's management – and, to a large extent, at least initially, on the ability of CarbonEthic's management – to implement their respective business strategies and on the availability of opportunities related to carbon credit trading and greenhouse gas ("GHG") emission avoidance, reduction and sequestration programs; government regulations; commitments to reduce GHG emissions by corporations, organizations and individuals; and general economic conditions.

Although the management of the Company is optimistic about its prospects, the achievement of anticipated outcomes and sustainable revenue streams is uncertain. The Company's long-term growth and prospects will depend, at least in part, on CarbonEthic's ability to expand its portfolio of investments while at the same time maintaining effective cost controls. A failure by CarbonEthic to expand is likely to have a material adverse effect on the Company's business, financial condition, and results of operations. Notwithstanding the Company's relationship with CarbonEthic, the Company can provide no assurances that any acquisitions it makes of carbon credits or other interests will ultimately prove to be profitable. CarbonEthic has sought, and the Company believes that CarbonEthic will continue to seek, to develop projects that generate substantial volumes of carbon credits and to invest in carbon credits and businesses or investments related to carbon credits.

In pursuit of such opportunities, CarbonEthic or the Company may fail to identify or select appropriate investment and/or development targets (outside of CarbonEthic's flagship project described in "Description of the Business"), or they could fail to negotiate acceptable arrangements, including arrangements to finance their investments. For a variety of reasons, they might be unable to identify or select appropriate investment or development targets in the numbers or at the pace they currently expect. Those reasons could include, among other things: (i) failure of the demand for carbon credits to develop sufficiently or in the anticipated timeframe; (ii) difficulties in identifying, engaging, contracting, compensating and maintaining relationships with developers or owners of projects or in successfully negotiating business agreements; (iii) difficulties in verifying and validating carbon credits or with respect to construction, permitting, the environment, or governmental approvals relating to projects that generate carbon credits; (iv) a reduction in government incentives or adverse changes in policy and laws with respect to carbon credits; (v) competition for the projects that CarbonEthic or the Company wishes to invest in and/or develop; (vi) and other government or regulatory actions that could impact their respective business models.

 ***The Company may not succeed in entering into the Streaming Agreement with CarbonEthic***

  ****

Because the Letter of Intent is, in general, not legally binding on either the Company or CarbonEthic, the Company is unable to provide any assurance that negotiations between the parties will result in the execution of the Streaming Agreement or that it will contain the terms contemplated by the Letter of Intent. If in the course of negotiations with CarbonEthic over the Streaming Agreement, the parties are unable to reach agreement on mutually acceptable terms, the Company's financial performance is likely to be adversely affected. See "*Overview of the Company*" below for more information on possible terms of the Streaming Agreement, if it is eventually executed.

 ****

***Global Policy Developments***

The Company is subject to changing and future global policy developments over which it has no control. Carbon markets are developing and are subject to changing global policy and uncertainty regarding the impact of global policy developments, including resolution of Article 6 of the Paris Agreement and the role of internationally transferred mitigation outcomes, as well as developments arising from the United Nations Climate Change Conference (COP27) (see "Description of the Business"). Future global policy development may affect the Company and its business favorably or adversely.

***Evolving Carbon Market***

The market for carbon credits is evolving rapidly. Related technologies are in early stages of adoption. Accordingly, the Company's business and future prospects may be difficult to evaluate. The challenges, risks and uncertainties frequently encountered by companies in rapidly evolving markets could impact the Company's ability to do the following:

● generate sufficient revenue to maintain profitability;

● acquire and maintain market share;

● achieve or manage growth in operations;

● develop and renew contracts;

● attract and retain highly qualified personnel;

● adapt to new or changing policies and spending priorities of governments and government agencies; and

● access additional capital when required and on reasonable terms.

Difficulties in successfully addressing these and other challenges, risks and uncertainties could adversely affect, perhaps materially, the Company's business, results of operations and financial condition.

***Increases in the Cost of Carbon Credits Could Affect the Viability of Compliance Carbon Credit Markets***

In jurisdictions that subject emitting companies to a carbon tax, emitters will generally be more incentivized to continue buying carbon credits as long as the carbon tax exceeds the price of the credits. Accordingly, all other considerations being equal, the pool of potential purchasers may be expected to continue growing to the extent that carbon taxes increase, relative to the cost of credits. The Company can provide no assurance, however, that the rate of increase of the cost of carbon credits will not eventually overtake the rate of increase in carbon taxes, potentially rendering the purchase of credits at prices that exceed such taxes uneconomical in compliance markets and thereby acting as a potential price cap on carbon credits in such markets. To the extent that the Company invests in, trades, acquires, or sells compliance market credits, invests in projects that produce such credits, its business could be negatively impacted in jurisdictions where the price of the compliance credit exceeds the established carbon tax.

 

 

***Lack of Liquidity and High Volatility of Voluntary Carbon Credit Markets***

Carbon credit markets, particularly the voluntary carbon credit markets, are still evolving and have experienced a high level of volatility in price and volume. The Company can provide no assurances that the carbon credits it purchases, including those generated by CarbonEthic's projects, will find a market. Markets for the purchase and sale of carbon credits, though currently liquid in certain parts of the world – for example, Europe, California, and British Columbia – may not be liquid in the future. Additionally, because many voluntary carbon credits are purchased directly from project developers and owners in private transactions rather than through intermediaries, increasing competition for credits may make their sourcing more difficult as governments and other stakeholders demand more emissions disclosure. Consequently, the Company may not be able to purchase from third-party project developers other than CarbonEthic, in a timely manner or at an attractive price, the volume of carbon credits that the Company desires to purchase. Increases in the cost of credits, among other developments, may tend to limit the pool of potential purchasers and sellers, and each transaction may require the negotiation of specific provisions. Accordingly, a purchase or sale may take several months or longer to complete. In addition, as the supply of carbon credits is limited, we may experience difficulties purchasing carbon credits. The inability to purchase and sell on a timely basis in sufficient quantities could have a material adverse effect on the Company's prospects.

***Reduced Demand for Carbon Credits***

The demand for, and the market price of, carbon credits can be adversely affected by a number of factors, including the implementation of lower emission infrastructure; an increase in the number of projects generating carbon credits; invention of new technology that assists in the avoidance, reduction or sequestration of emissions; increased use of alternative fuels; a decrease in the price of conventional fossil fuels; increased use of renewable energy; and the implementation and operation of carbon pricing initiatives such as carbon taxes and emissions trading systems ("ETSs"). The Company can provide no assurance that carbon pricing initiatives or compliance carbon credit markets or voluntary carbon credit markets will continue to exist. Carbon pricing initiatives may be subject to policy and political changes and may otherwise be diminished or terminated, or may not be renewed upon their expiration.

In addition, the demand for carbon credits is driven by the social and political will to reduce GHG emissions globally. Absent the social and political will, marketplaces in which the Company might otherwise sell carbon credits could cease to exist, or carbon credits could fall to an unsustainably low price, rendering the Company's business unprofitable.

 

***Validation, Registration, Verification, Cancellation and Other Risks Associated with Carbon Credits***

The Company believes that in seeking to acquire and grow a diversified and high-quality portfolio of investments in projects that generate carbon credits over the long term, CarbonEthic intends to have such project(s) validated through a compliance market or by an internationally recognized voluntary carbon offset registry, such as the American Carbon Registry, Verra VCS, and the Gold Standard. The Company further believes that CarbonEthic may also have co-benefits (i.e., positive impacts in addition to direct GHG emissions mitigation resulting from carbon reduction projects), which may be validated by standards such as the CCB Standard, SOCIALCARBON or the SD Vista Standard, also administered by Verra. Any actual or proposed changes to international carbon credit standards or verification requirements and/or the implementation of any national or international laws, treaties or regulations by governmental entities and/or any adverse changes to existing governmental policies with respect to carbon credits (including, without limitation, any changes to "nationally determined contributions" under the Paris Agreement or any other national or international initiatives) could result in a material and adverse effect on our profitability, results of operation and financial condition.

The projects that the Company believes CarbonEthic may invest in or develop to generate carbon credits are subject to risks associated with natural disasters, including forest fires, which could result in temporary or permanent damage to, or destruction of, projects that generate carbon credits. Any such natural disasters could affect the viability of CarbonEthic's projects and impact its ability to deliver carbon credits to the Company, thereby possibly materially and adversely affecting the Company's profitability. If, in the future, the Company enters into agreements for the purchase of carbon credits from other credit producers that develop projects similar to those developed by CarbonEthic, the Company will be subject to risks similar to those it faces in dealing with CarbonEthic.

***Carbon Pricing Initiatives are Based on Scientific Principles that are Subject to Debate***

Carbon pricing initiatives, such as ETSs, carbon taxes, and carbon credits, have resulted primarily from relative international and scientific consensus with respect to scientific evidence that indicates a correlative relationship between the rise in global temperatures and extreme weather events, on the one hand, and the rise in GHG emissions in the atmosphere, on the other hand. Changing views that, if at all, weaken the international and scientific consensus could negatively affect the value of carbon credits.

Furthermore, the Company can provide no assurances that voluntary or compliance carbon credit markets will continue to grow in line with the Company's expectations. Ultimately, the price of carbon credits is determined by the cost of actually reducing emissions levels. If the price of carbon credits becomes too high, relative to the cost of alternatives, emitters could find it more economical to develop or invest in lower-emission technologies, which, although unlikely to eliminate their need for carbon credits, could reduce their carbon footprints sufficiently to meet their stated sustainability goals, enabling them to purchase fewer credits to offset their emissions and, in turn, lowering the carbon credit market price, thereby adversely affecting the Company's profitability.

Regulatory risk related to changes in regulation and enforcement of ETSs can adversely affect market behavior. If fines or other penalties for non-compliance are not enforced, incentives to purchase carbon credits could deteriorate, resulting in a fall in the price of carbon credits and a consequent drop in the value of the assets of carbon credit sellers, such as the Company.

***Carbon Trading May Become Obsolete***

Carbon trading is regulated by specific jurisdictions pursuant to regional legislation. Alternatively, participants can engage in carbon trading voluntarily, not for compliance purposes but rather to further corporate social responsibility goals. When regulated (e.g., in the European Union and in the Western Climate Initiative jurisdictions), governments compel emitters to reduce their GHG emissions through technological improvements or through the purchase of carbon credits. New legislation may arise in certain jurisdictions that may render the Company's business plan and knowledge obsolete with respect to carbon credits. With respect to the voluntary trading of carbon credits, voluntary purchasers of carbon credits could elect to discontinue purchasing carbon credits for reasons related to their business plans or because of changing economic, political contexts or other conditions over which the Company's management has no control.

 

***Project Types May Change Over Time***

The generally accepted types of carbon reduction projects, including those that may be registered and/or verified by carbon credit registries, have changed and are likely to change further over time. For example, the voluntary carbon credit market has recently trended toward shifting from projects that reduce or avoid GHG emissions to projects that remove GHG emissions from the atmosphere. The Company provides capital, development and operating resources but is not a project proponent itself. Therefore, the Company's portfolio is limited to the projects available for investment.

***Foreign Operation and Political Risk***

The Company's investments may be focused in a particular country, countries, or region and therefore may be susceptible to adverse market, political, regulatory, and geographic events affecting that country, countries, or region.

Carbon credit projects invested in by credit producers with which the Company may do business in the future face risks with respect to countries where their current or future assets may be located, including unforeseen government actions; acts of god; terrorism; hostage taking; military repression; extreme fluctuations in currency exchange rates; high rates of inflation; labor unrest; the possibility of war or civil unrest; expropriation and nationalization; renegotiation or nullification of existing concessions, licenses, permits and contracts; changes in taxation policies; restrictions on foreign exchange and repatriation; changing political conditions; currency controls; export controls; and governmental regulations that favor or require the awarding of contracts to local contractors or require foreign contractors to employ citizens of, or purchase supplies from, a particular jurisdiction or other events.

All or any of these factors, or the perception of the related risks, could, in given situations, reduce the supply of carbon credits available to the Company for purchase from its counterparties, possibly affecting the Company's profitability.

***Competitive Conditions***

Although many organizations, companies, non-profits, governments, asset managers and individuals are buyers of carbon credits, or rights to or interest in carbon credits, the supply of carbon credits, as well as the number and types of projects that might generate future carbon credits and investment opportunities in carbon credits, is limited. Many competitors of CarbonEthic and the Company are larger, more established enterprises with substantial financial resources, operational capabilities and long track records in the carbon credit markets. CarbonEthic and the Company may be at a competitive disadvantage in developing and investing in carbon projects and in acquiring carbon credits or interests in carbon credits, whether by way of purchases in carbon markets or other forms of investment, as many competitors have greater financial resources and technical staffs. Accordingly, the Company can provide no assurance that it will be able to compete successfully against other companies in building a pipeline of access to carbon credits and carbon-credit-related investments. Any such limitation on the Company's ability to acquire carbon credits could result in a material and adverse effect to its profitability, results of operation and financial condition.

***Risks Related to the Company's Preparation of ESG Guidelines for its Carbon Credit Purchasers***

As discussed in "Description of the Business," one aspect of the Company's business is building a proprietary technology that will enable it to analyze the emissions-related footprint of companies to which the Company sells carbon credits, the Company's objective being to use the technology to prepare ESG guidelines and reports for those purchasers. However, although the carbon credits industry is progressing toward commoditization, carbon credits, unlike precious metals, are not fully fungible. Challenges to commoditization, and hence to the Company's technology and its proposed ESG guidelines and reports, involve measurement, transparency, and accountability. The Company's technology in preparing the ESG guidelines and reports may use inputs that may be unreliable or simply incorrect, potentially limiting the utility of the deliverables to purchasing companies and, consequently, adversely affecting the profitability of that business segment.

***Relationships with Indigenous Groups***

CarbonEthic's flagship project involves a partnership with a Canadian indigenous group that holds certain rights to the forested land area where the project is located (see "Description of the Business"). CarbonEthic and its indigenous partner are currently engaged in negotiations with the Canadian province of British Columbia to permit them to engage in certain activities in furtherance of that partnership. The Company can provide no assurances that those negotiations will achieve all of CarbonEthic's objectives.

Additionally, although the Company believes that CarbonEthic has a pipeline of similar arrangements with other Canadian indigenous groups, the Company can provide no assurances that those arrangements will be consummated. Because of the Company's current reliance on the supply of carbon credits from CarbonEthic, the failure of any such contemplated arrangements to come to fruition could materially and adversely affect the Company's long-term prospects.

**<u>Risks associated with this Offering and the Shares</u>**

***There is no reliable correlation between the Offering Price and, currently, the Company's asset value, net worth, earnings, book value, or any other established criteria of value.***

 ****

The Offering Price of $10 per Class A Share has been set by the Company's management on the basis of an internal valuation that takes into account, among other factors, management's views of the direction of the carbon credit markets (giving due consideration to their variability) and its expectation of the potential growth of the carbon credits industry in general. The Company can provide no assurance of the validity or accuracy of management's assumptions or of any valuation model inputs (or, consequently, of the value of the Class A Shares or the price at which, if at all, they might be sold after the consummation of this Offering).

The Offering Price is substantially higher than the net tangible book value per Class A Share immediately before the commencement of this Offering; and even if the Company achieves an aggregate inflow of $10,000,000 in capital if this Offering is fully subscribed, the net tangible book value per Class A Share, on a fully diluted basis, immediately after the conclusion of this Offering will still be less than the Offering Price. The Offering Price does not reflect market forces and should not be regarded as an indicator of any future market price of the Class A Shares.

Investors are also advised that if the Company offered additional Class A Shares in future securities offerings, whether in accordance with Regulation A or otherwise, any such offerings might be made on the basis of lower valuations of the Company, the possible result being that Class A Shares purchased in this Offering (i.e., the current offering) could themselves be perceived to bear a lower valuation.

***There is no public market for the Class A Shares.***

Currently, there is no public market for the Class A Shares, and no assurance can be given that any such public market will ever develop or be sustained in the future. As a result, prospective investors should be prepared to hold the Class A Shares for an indefinite period.

***An investor's ownership interest could be significantly diluted.***

An investor's ownership interest in the Company may be subject to future dilution. The Company may, and most likely will, need to raise additional capital in the future. In connection with raising such capital, the Company may issue additional Class A Shares or other securities, which may include preferred stock that has liquidation, dividend, voting or other preferential rights that are senior to the rights of the Class A Shares. The Company also may enter into strategic partnerships or acquisitions in the future in connection with which it may need to issue additional Class A Shares or other securities, and it may issue additional Class A Shares, options to purchase Class A Shares, or other securities, to existing or future officers, directors, employees and consultants as compensation or incentives. As a result of the foregoing, a purchaser of Class A Shares in this Offering could find its interest in the Company diluted in the future through a decrease in the purchaser's relative percentage ownership of the Company.

***Voting control is in the hands of a few large stockholders.***

Voting control of the Company is concentrated in the hands of a small group of stockholders whose voting rights are such that even if this Offering is fully subscribed, the investors will, upon this Offering's completion, hold less than 4% of the voting power in the Company. You will not be able to influence our policies or any other corporate matter, including the election of directors, changes to the Company's governance documents, expanding any employee equity or option pool, and any merger, consolidation, sale of all or substantially all of our assets, or other major action requiring stockholder approval. See "Securities Being Offered". These few stockholders will make all major decisions regarding the Company. As a minority stockholder, you will not have a say in these decisions.

***The Company may sell Class A Shares concurrently to certain investors on more favorable terms.***

Certain investors may negotiate alternative terms for the purchase of Class A Shares. The Company is under no obligation to amend and restate any particular stock purchase agreement, subscription agreement, or other selling document based on subsequent agreements executed with the Company on different terms or to notify investors of any alternative terms, including any that may be more favorable for certain investors.

**ITEM 4.**

**DILUTION**

Dilution (also known as stock or equity dilution) occurs when a company issues new stock which results in a decrease of an existing stockholder's ownership percentage of that company. Stock dilution can also occur when holders of stock options, such as company employees, or holders of other optionable securities exercise their options. When the number of shares outstanding increases, each existing stockholder owns a smaller, or diluted, percentage of the company. Share dilution may happen anytime a company needs additional capital and issues equity securities to obtain such additional capital. Future sales of substantial amounts of the Class A Common Stock in the public market could adversely affect then-outstanding Class A Shares' prevailing market prices (if any), as well as our ability to raise equity capital in the future.

Dilution can also occur when a company issues equity as a result of an arbitrary determination of the offering price of the shares being offered. In the case of this Offering, because there is no established public market for the Class A Shares, the Offering Price and other terms and conditions relating to the Class A Shares have been determined by the Company arbitrarily and do not bear any reliable relationship to assets, earnings, book value or any other objective criteria of value. In addition, no investment banker, appraiser or other independent third party has been consulted concerning the Offering Price or its fairness to investors.

From time to time after the termination of this Offering, we may issue additional Class A Shares to raise additional capital for the Company. Any such issuances may result in dilution of then existing stockholders, including investors in this Offering. If in the future the number of Class A Shares outstanding increases, each existing stockholder will own a smaller, or diluted, percentage of the Company, which, depending on the amount of capital raised by the issuance of the additional Class A Shares, could render the Class A Shares then held by stockholders less valuable than before the new issuance. Dilution may also reduce the value of existing Class A Shares by reducing the Common Stock's earnings per share. There is no guarantee that dilution of the Class A Common Stock will not occur in the future.

The Company's four founders have collectively been issued 5,356,000 Class B Shares (representing, as of the date of this Offering Circular, all of the Company's issued and outstanding common shares) for an aggregate price of $535.60 ($0.0001 per Class B Share, which is one-thousandth of 1% of the Offering Price).

The Company has reserved 361,530 Class A Shares for issuance under its employee stock option plan.

**ITEM 5.**

**PLAN OF DISTRIBUTION**

**General**

This Offering Circular is part of an Offering Statement that we have filed with the Commission, using a continuous offering process. Periodically, if we have material developments, we will provide an Offering Circular supplement that may add, update, or change information contained in this Offering Circular. Any statement that we make in this Offering Circular will be modified or superseded by any inconsistent statement made by us in a subsequent Offering Circular supplement. The Offering Statement includes exhibits that provide more detailed descriptions of the matters discussed in this Offering Circular. You should read this Offering Circular, the related exhibits filed with the Offering Statement, and any Offering Circular supplement, together with additional information contained in the annual reports, semi-annual reports and other reports and information statements that we will file periodically with the Commission.

The Company is offering for sale to investors, up to 1,000,000 Class A Shares. This Offering, which is not subject to the sale of any minimum number of Class A Shares, is being conducted on a "best efforts" basis through the Broker and is not conditioned on the sale of any minimum number of Class A Shares. No Company officer or director who introduces friends, family members and business acquaintances to any selling agent in this Offering will receive commissions or any other remuneration from any such sales. If investors purchase all of the Class A Shares that we are offering for sale, our gross proceeds will be $10,000,000.

Offers and sales of the Class A Shares will commence within two calendar days after the Qualification Date. This Offering will be made in the United States in as many as all fifty (50) states. It will end on the earliest of (i) the 180<sup>th</sup> day after the Qualification Date (though we may, in our sole discretion, extend this Offering one or more times), (ii) the date as of which all Class A Shares offered by this Offering Circular have been sold and (iii) any such earlier time as we may determine in our sole discretion, regardless of the number of Class A Shares sold and the amount of capital raised. The Company has the right to terminate this Offering at any time, regardless of the number of Class A Shares that have been sold.

Once Class A Shares are subscribed for, subscription funds will become available to us and may be transferred by the Company directly from our administrative account into our operating account for use as described in "Use of Proceeds" as set forth herein. Once subscriptions are accepted during the Offering Period, subscribers have no right to a return of their funds and could lose their entire investment. If the Company should file for bankruptcy protection or a petition for insolvency bankruptcy is filed by creditors against the Company, investor funds may become part of the bankruptcy estate and administered according to the bankruptcy laws.

**Commissions and Discounts**

The following table shows the maximum discounts, commissions, and fees payable to the Broker and its affiliates, as well as certain other fees, in connection with this Offering by the Company and the selling stockholders, assuming a fully subscribed offering. The table below does not reflect Transaction Fees payable by investors to the Company, which will offset a portion of the consulting, processing, and technology fees shown in the table. Actual fees are anticipated to be lower than the maximum shown below.

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| | | |
|:---|:---|:---|
|  | **Per Share** | **Total** |
| Public offering price | $10.00 | $10000000.00 |
| Anticipated Maximum broker commissions | $0.10 | $100000.000 |
| Anticipated consulting, processing, and technology fees | $0.70 | 700000.00 |
| Proceeds, before other expenses | $9.20 | $9200000.00 |

---

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**Other Terms**

The aggregate fees payable to the Broker and its affiliates are described below. The Broker, a broker-dealer registered with the Commission and a member of FINRA, has been engaged to provide the following administrative and compliance related functions in connection with this Offering:

***Administrative and Compliance Related Functions***

The Broker will provide the following administrative and compliance related functions in connection with this Offering:

● Reviewing investor information and performing identity verification, Anti-Money Laundering ("AML") and other compliance background checks, to assist the Company in determining whether to accept an investor into the Offering;

● Conducting discussions on the information of an investor;

● Coordinating with third party agents and vendors;

● Reviewing each investor's subscription agreement to confirm such investor's participation in the Offering;

● Contacting the Company, if needed, to gather additional information or clarification on an investor;

● Providing a dedicated account manager;

● Providing ongoing advice to the Company on the compliance of marketing material and other communications to the public with applicable legal standards and requirements;

● Performing due diligence on the Company and the Company's management and consulting the Company regarding the same;

● Consulting the Company on best business practices regarding this raise in light of current market conditions;

● Providing white labelled platform customization to capture investor acquisition through the Broker's platform's analytic and communication tools;

● Consulting the Company on customizing the investor questionnaire;

● Consulting the Company on webhosting services;

● Advising the Company on the preparation and completion of this Offering Circular;

● Assisting the Company in preparing state, Commission and FINRA filings related to the Offering.

The aforementioned services will not include providing any investment advice or any investment recommendations to any investor. We have agreed to pay the Broker a (i) one-time $85,000 advance against accountable expenses and (ii) a cash commission equal to one percent (1%) of the amount raised in this Offering.

***Technology Services***

The Company has engaged DealMaker to create and maintain the online subscription processing platform for the Offering.

After qualification by the Commission of the Offering Statement of which this Offering Circular is a part, this Offering will be conducted using the online subscription processing platform of DealMaker at https://invest.ethicstream.co, on which investors may receive, review, execute and deliver subscription agreements electronically and pay the purchase price through a third-party processor by ACH debit transfer, wire transfer or credit card to an account we designate. There is no escrow established for this Offering. Closings will take place upon the receipt of investors' subscriptions and our acceptance of such subscriptions.

For these services, we have agreed to pay DealMaker:

● a monthly platform hosting and maintenance fee of $2,000;

**●** usage fees described in the DealMaker Securities Order Form, including $15 per electronic subscription package completed and $15 per funded investor; and

● payment processing expenses, which are expected to be approximately three percent (3%) of the sum of (i) the Offering proceeds and (ii) all Transaction Fees received by the Company from investors.

***Marketing and Advisory Services***

The Company has also engaged Reach to advise the Company on its creative assets, website design and implementation, and paid media and email campaigns. In particular, Reach will advise the Company on optimizing its capital-raise marketing budget. For these services, we have agreed to pay Reach a monthly fee of $22,000 in cash, up to a maximum of $264,000.

In aggregate, the administrative and compliance fees, the technology services fees, and the marketing and advisory services will, in aggregate, not exceed the following maximums:

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| | |
|:---|:---|
| **Total Offering Amount** | **Maximum Payment to Broker and Affiliates (% of Total Offering Amount)** |
| Up to $5,000,000 | 9.25% |
| Between $5,000,001 and $10,000,000 | 8.0% |

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**Transaction Fee**

At the time of each subscription, the related investor will be required to pay the Company a $45 investor processing fee ("***Transaction Fee***") to help offset certain transaction expenses that would otherwise be borne by the Company. A portion of each Transaction Fee will be paid to DealMaker, an affiliate of the Broker, in the form of payment processing expenses, which are expected to represent approximately three percent (3%) of this Offering's gross proceeds (including the amount of the Transaction Fees paid to the Company by investors). The payment processing expenses are included in the "Maximum Payment to Broker and Affiliates" percentages set forth in the table above.

The Company has also engaged DealMaker Transfer Agent LLC (the "***Transfer Agent***"), an SEC-registered securities transfer agent and an affiliate of the Broker, to act as its transfer agent for the Shares. The Transfer Agent will maintain stockholder information on a book-entry basis.

**Subscription Procedures**

In order to purchase the Class A Shares, a prospective investor must complete, sign, and deliver to the Company a subscription agreement (in the form attached as Exhibit 4.1 to the Offering Statement). Each investor will be required to use DealMaker's technology in completing and executing the subscription agreement on the Company's website. Investors must subscribe by tendering funds via wire, credit card, debit card or ACH only and checks will not be accepted.

The Company may close on investments on a "rolling" basis, such that not all investors will receive their shares on the same date. Funds will be held in the Company's payment processor account until the Broker has reviewed the proposed subscription and the Company has accepted the subscription. At that point, funds may be released to the Company. Funds released to the Company's bank account will be net funds (investment less payment for processing fees and a holdback equivalent to 5% for 90 days). The Company will be responsible for payment processing fees. The Company reserves the right to reject any investor's subscription in whole or in part for any reason or no reason. If any prospective investor's subscription is rejected, all funds received from that investor will be returned without interest or deduction.

The Broker has not investigated the desirability or advisability of investment in the Class A Shares, nor approved, endorsed, or passed upon the merits of purchasing the Class A Shares. The Broker is not participating as an underwriter and under no circumstance will it recommend the Company's securities or provide investment advice to any prospective investor, or make any securities recommendations to investors. The Broker is not distributing any offering circulars or making any oral representations concerning this Offering Circular or this Offering. Based upon the Broker's anticipated limited role in this Offering, it has not and will not conduct extensive due diligence of this Offering and no investor should rely on the involvement of the Broker in this Offering as any basis for a belief that it has done extensive due diligence. The Broker does not expressly or impliedly affirm the completeness or accuracy of the Offering Statement and/or Offering Circular presented to investors by the Company. All inquiries regarding this Offering should be made directly to the Company.

In addition to this Offering Circular, subject to limitations imposed by applicable securities laws, we may use additional advertising, sales, and other promotional materials in connection with this Offering. Such materials may include public advertisements and audio-visual materials, in each case only as authorized by the Company. Although any such materials will be prepared with a view to presenting a balanced discussion of risk and reward with respect to the Class A Shares, such materials may not give a complete understanding of this Offering, the Company or the Class A Shares and are not to be considered part of this Offering Circular. **This Offering is made <u>ONLY</u> by means of this Offering Circular, and prospective investors must read and rely only on the information provided in this Offering Circular in connection with their decision to invest in the Class A Shares.**

**<u>Investment Limitations</u>**

Generally, no sale may be made to a natural person in this Offering if the aggregate purchase price paid is more than 10% of the greater of that person's annual income or net worth (or, in the case of an investor that is not a natural person, if the aggregate purchase price paid is more than 10% of the greater of that person's revenues or net assets for its most recently completed fiscal year end). Investors must answer certain questions to determine compliance with the investment limitation set forth in Rule 251(d)(2)(i)(C) of Regulation A under the Securities Act.

Before making any representation that your investment does not exceed applicable thresholds, we encourage you to review Rule 251(d)(2)(i)(C) of Regulation A. For general information on investing, we encourage you to visit <u>www.investor.gov</u>.

***The above noted investment limitation does not apply to "accredited investors," as that term is defined in Rule 501 under the Securities Act.***

***A natural person is an accredited investor if he/she meets one of the following criteria:***

● his or her individual net worth,<sup>1</sup> or joint net worth<sup>2</sup> with the investor's spouse or spousal equivalent, excluding the "net value" of his or her primary residence, at the time of this purchase exceeds $1,000,000 and he or she has no reason to believe that that net worth will not remain in excess of $1,000,000 for the foreseeable future, with "net value" for such purposes being the fair value of the investor's residence less any mortgage indebtedness or other obligation secured by the residence, but subtracting such indebtedness or obligation only if it is a liability already considered in calculating net worth<sup>1</sup>;

<sup>1</sup> A natural person's net worth is defined as the difference between total assets and total liabilities. The calculation must exclude the value of the person's primary residence and may exclude any indebtedness secured by that residence (up to an amount equal to its value). In the case of fiduciary accounts, net worth and/or income suitability requirements may be satisfied by the beneficiary of the account or by the fiduciary, if the fiduciary directly or indirectly provides funds for the purchase of the Class A Shares.

<sup>2</sup> For the purposes of calculating "joint net worth" in the bullet-point paragraph above, joint net worth can be the aggregate net worth of the investor and spouse or spousal equivalent. Assets need not be held jointly to be included in the calculation. Reliance on the joint net worth standard above does not require that the securities be purchased jointly.

● he or she has individual annual income in excess of $200,000 in each of the two most recent years, or joint annual income with that person's spouse or spousal equivalent in excess of $300,000 in each of those years, and has a reasonable expectation of reaching the same income level in the current year; or

● he or she holds in good standing one or more professional certifications or designations or credentials from an accredited educational institution that the Commission has designated as qualifying an individual for accredited investor status.

***A business entity or other organization is an accredited investor if it is any of the following:***

● a corporation, limited liability company, exempt organization described in Section 501(c)(3) of the Internal Revenue Code, business trust or a partnership, which was not formed for the specific purpose of acquiring the securities offered and which has total assets in excess of $5,000,000;

● an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, (i) if the decision to invest is made by a plan fiduciary which is either a bank, savings and loan association, insurance company, or registered investment adviser; (ii) if such employee benefit plan has total assets in excess of $5,000,000; or (iii) if it is a self-directed plan whose investment decisions are made solely by accredited investors;

● a trust, with total assets in excess of $5,000,000, which was not formed for the specific purpose of acquiring the securities offered, and whose decision to purchase such securities is directed by a "sophisticated person" as described in Rule 506(b)(2)(ii) of Regulation D under the Securities Act;

● certain financial institutions such as banks and savings and loan associations, registered broker-dealers, insurance companies, registered investment companies, registered investment advisers; investment advisers relying on certain registration exemptions, and "rural business investment companies";

● any private "business development company" as defined in Section 202(a)(22) of the Investment Advisers Act of 1940 (the "  ***Advisers Act*** ");

● any family office as defined in Rule 202(a)(11)(G)-1 under the Advisers Act with assets under management in excess of $5,000,000, that is not formed for the specific purpose of acquiring the securities offered, and whose prospective investment is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment (any such family office, "  ***Family Office*** ");

● any family client, as defined in Rule 202(a)(11)(G)-1 under the Advisers Act, of a Family Office and whose prospective investment in the issuer is directed by such Family Office;

● any entity, of a type not listed above, which was not formed for the specific purpose of acquiring the securities offered, and which owns investments in excess of $5,000,000; or

● any entity in which all of the equity owners are accredited investors.

Under Rule 251 of Regulation A, an investor that is neither an accredited investor nor a natural person may invest funds only to the extent that the investment amount does not exceed 10% of the greater of the purchaser's revenue or net assets for the purchaser's most recently completed fiscal year end. A natural person that is not an accredited investor may invest funds only to the extent that the investment amount does not exceed 10% of the greater of the purchaser's annual income or net worth.

As described above, in order to purchase Class A Shares and before the Company may accept any funds from an investor, the investor will be required to represent, to the Company's satisfaction, that he, she, or it is either an accredited investor or is in compliance with the investment limitation described in the second preceding paragraph.

The Company, subject to compliance with Rule 255 under the Securities Act and corresponding state regulations, is permitted to generally solicit investors by using advertising mediums, such as the Internet, print, radio, and television. We have plans to solicit investors using the Internet through a variety of existing Internet advertising mechanisms, such as search-based advertising, search engine optimization and our website. We will offer the Class A Shares (i) as permitted by Rule 251(d)(1)(ii), whereby offers may be made after an offering statement is filed with the Commission but before it is qualified, provided that any written offers are made by means of a preliminary offering circular that complies with Rule 254 and (ii) as permitted by Rule 251(d)(1)(iii), whereby offers may be made after the Commission qualifies the Offering Statement, provided that any written offers are accompanied with or preceded by the most recent offering circular filed with the Commission.

No sales will be made to any investor before the Offering Statement has been qualified by the Commission and a final offering circular related to the Offering Statement has been made available to that investor.

Before accepting investment funds or subscription agreements, we will determine the states in which the prospective investors reside. Subject to the Company's right to reject any investor's subscription in whole or in part for any reason or no reason, we will process investments on a first-come, first-served basis, up to the maximum aggregate Offering Price of $10,000,000.

**No Selling Stockholders**

No securities are being sold for the account of any person that is currently a Company stockholder. All net proceeds of this Offering will go to the Company.

**ITEM 6.**

**USE OF PROCEEDS**

We are offering for sale up to 1,000,000 Class A Shares, subject to the conditions set forth in "Securities Being Offered," each Class A Share having a fixed price of $10. The Company is not conditioning this Offering on the sale of any minimum number of Class A Shares, meaning that we will retain the proceeds from the sale of any of the offered Class A Shares. This Offering is being conducted on a "best efforts" basis. The company has engaged the Broker to provide the administrative and compliance related functions in connection with this offering, and as broker-dealer of record, but not for underwriting or placement agent services. (See "Plan of Distribution.")

Sales of the Class A Shares will commence within two calendar days after the Qualification Date. This Offering will end on the earliest of (i) the 180<sup>th</sup> day after the Qualification Date (though we may, in our sole discretion, extend this Offering one or more times), (ii) the date as of which all Class A Shares offered by this Offering Circular have been sold and (iii) any such earlier time as we may determine in our sole discretion, regardless of the number of Class A Shares sold and the amount of capital raised. If all of the Class A Shares offered for sale are purchased, our gross proceeds will be $10,000,000. The following table illustrates the Company's estimated application of proceeds if it sells all 10,000,000 Class A Shares offered for sale during the Offering Period. As a point of comparison, we have added a column that assumes the sale of 50% of the maximum number of Class A Shares offered for sale by this Offering Circular during the Offering Period, representing a capital raise of $5,000,000. For purposes of this table, the Company has assumed that it will pay the maximum amount of fees to the Broker and its affiliates as set forth in the fee table in "Plan of Distribution." The Company has further assumed that this Offering will be open for 12 months, which impacts certain of its other offering expenses. As a result, actual offering expenses may be lower than represented below.

Please see the table below for a summary of the Company's intended use of proceeds from this Offering:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **$5,000,000 Comparative** | **% Allocation** | **$10,000,000**<br> **Maximum** | <br>**% Allocation** |
| **Uses** |  |  |  |  |
| Product Development | $300000 | 6.0% | 914500 | 9.145% |
| Payroll | $1765000 | 35.3% | 2290000 | 22.9% |
| General Administrative | $415000 | 8.3% | 650000 | 6.5% |
| Marketing | $500000 | 10.0% | 1275000 | 12.75% |
| Acquisition of Carbon Credits | $1689000 | 33.78% | 4427000 | 44.27% |
| **Sub Totals** | $**4669000** | **88.88%** | **9556500** | **91.065%** |
| **Offering Expenses** |  |  |  |  |
| Estimated Fees, Commission, and Offering Expenses, Less Transaction Fees | $237500 | 4.75% | 350000 | 3.50% |
| Fixed Costs | $93500 | 1.87% | 93500 | 0.935% |
| **Totals** | $**5000000** | **100.00%** | $**10000000** | **100.00%** |

---

The table above is intended to provide an overview of the contemplated application (or use) of proceeds over time (approximately twelve months) as a function of the success of this Offering's capital raise.

If we assume a capital raise of $5,000,000, representing 50% of the maximum offering amount, the net proceeds of this Offering would be approximately $4,669,000 after subtracting (i) DealMaker's estimated cash commission of $50,000, (ii) $412,500 for other expenses of DealMaker and its affiliates (offset by the Company's receipt of estimated Transaction Fees of $225,000) and (iii) $93,500 in fixed costs (representing legal, accounting, and blue sky fees, together with EDGARization expenses). If investors subscribe for Class A Shares with an aggregate sale price of at least $5,000,000, the net proceeds are expected to be allocated and used as set forth in the column captioned "$5,000,000 Comparative," for the items listed under "Uses," in the table above.

With a capital raise of $10,000,000, representing the maximum offering amount, the net proceeds of this Offering would be approximately $9,556,500 after subtracting (i) DealMaker's estimated cash commission of $100,000, (ii) $700,000 for other expenses of DealMaker and its affiliates (offset by the Company's receipt of estimated Transaction Fees of $450,000) and (iii) $93,500 in fixed costs (representing legal, accounting, and blue sky fees, together with EDGARization expenses). If investors subscribe for Class A Shares with an aggregate sale price of $10,000,000, the net proceeds are expected to be allocated and used as set forth in the column captioned "$10,000,000 Maximum," for the items listed under "Uses," in the table above.

**The Company reserves the right to change the above use of proceeds.**

**ITEM 7.**

**DESCRIPTION OF BUSINESS**

**Overview of the Company**

We are a full-service carbon credit acquisition, marketing, and consulting company that serves corporate emitters and carbon offset project developers. Our mission is to equip the market with effective strategies to balance emissions through the highest quality carbon offsets on the market and actionable plans to balance carbon footprints without sacrificing growth.

As an emissions streaming, technology, and advisory company, the Company provides corporate clients with complete solutions to reduce and balance their emissions footprints. We are developing technologies that gauge and analyze emitters' carbon footprints so that they can take meaningful steps to reducing and balancing their emissions. Our team of experts works with these clients to create a customized plan to help the client achieve a balanced carbon footprint through a combination of emissions reduction solutions and the purchase of carbon offsets. We then use proprietary technology to identify and source the optimal carbon offsets for each particular client based on its unique footprint and emissions profile. The Company produces tailored ESG reports that clients may present to their boards of directors, shareholders, customers, partners, supply chain members, regulators, and other stakeholders, which help our clients make better-informed buying decisions and demonstrate the integrity of their sustainability investments.

We offer competitive pricing to our clients by sourcing carbon offsets directly from carbon offset producers and partners at a discount, selling those offsets at fair market prices to large companies that seek to offset their emissions. By pre-purchasing or "streaming" carbon offsets from carbon offset project developers, we provide critical capital to project developers so that they can advance their projects and meaningfully reduce climate change exposure.

On February 1, 2023, the Company signed the Letter of Intent with CarbonEthic to facilitate the negotiation of the ***Streaming Agreement*** , under which, as envisioned by CarbonEthic and the Company, CarbonEthic would sell and deliver to the Company, as purchaser, ten percent (10%) of the carbon credits that CarbonEthic generates from its (and its affiliates') nature-based project located in British Columbia, Canada , and establishes a framework for the Company to purchase carbon credits from CarbonEthic's other projects on similar terms. Pursuant to the terms of the Letter of Intent, the Streaming Agreement would provide that the Company pay CarbonEthic a price per carbon credit based on the actual price at which the credit was sold by the Company to a third party.

Upon execution of the Streaming Agreement, the Company would expect to enter into an initial order for CarbonEthic's flagship project (the "***KDI Project***"), which is anticipated to be one of the western hemisphere's largest forest carbon capture projects and to span 4,150,000 hectares of Canadian Boreal Forest in British Columbia, Canada . CarbonEthic expects the KDI Project to produce 16,000,000 carbon credits per year, yielding a total of 10,000,000 – 12,000,000 carbon credits available for sale by CarbonEthic annually. Ten percent (10%) of the annual 10,000,000 – 12,000,000 carbon credits would be sold by CarbonEthic to the Company to market to third-party buyers.

The parties expect that the Streaming Agreement would have an initial term of ten years from the delivery of the first carbon credits from CarbonEthic to the Company, with automatic renewals of five (5) year periods, with such renewals continuing until carbon credits are no longer being generated by the KDI Project.

The Streaming Agreement would also establish a framework that would enable the Company to efficiently participate in future CarbonEthic projects. The Company anticipates that, under the Streaming Agreement, CarbonEthic could provide the Company with additional rights to purchase and market carbon credits arising from other CarbonEthic projects under similar terms. As of February 2023, CarbonEthic has a project pipeline that exceeds 10,000,000 additional hectares.

**Market**

The climate offsetting market is rapidly expanding into a multi-billion-dollar industry. ESG policies, sustainability, climate disclosure, and carbon offsetting are complex and unprecedented matters that companies presently face (and will increasingly need to address to stakeholders in the years to come). The Company provides comprehensive and data-driven solutions with artificial intelligence and machine learning tools to assist corporate clients with managing their sustainability goals.

 ****

***Although the Company has been in operation for approximately only six months, its directors, officers, and advisors have already leveraged their relationships in the ESG industry to develop carbon products and services that we believe would be expected of a company with a longer operating history.***

**The Competitive Landscape**

The global carbon markets are rapidly evolving, with companies ranging from multinationals to startups investing in carbon offsetting initiatives. Our largest competitors in ESG consulting include Deloitte, Ernst & Young, PricewaterhouseCoopers, KPMG, Boston Consulting Group, McKinsey & Company, Bain & Company, and the Bank of Montreal (following its acquisition of Radicle Group Inc.). While these firms are currently more internationally known, we provide consulting services in carbon offsetting that are equally high in quality but at a significantly reduced cost to small- to medium-sized corporate clients. Our team brings decades of experience advising global organizations, governments, and corporations on emissions reduction, mitigation, sustainability, and ESG matters with a team of world-renowned scientists and biodiversity and sustainability experts, including the leader of the IPCC's Nobel Prize-winning team, as well as leaders in the development of carbon qualification standards.

Among our competitors is Carbon Streaming Corporation, a Canadian company that offers investors exposure to carbon credits through its financing arrangements with third-party project carbon offset developers and has raised $104,000,000 to date. Through our arrangement with CarbonEthic, we are coming to the market with carbon offsets in hand, enabling our clients to bypass expensive financing institutions to access carbon credits directly with expected discounts of up to 30%. Many of our competitors have struggled to secure supplies of carbon credits long after they raised considerable amounts of capital from the public and private markets. If the Company is able to enter into the Streaming Agreement with CarbonEthic on the terms contemplated by the Letter of Intent, the Company would expect to come to the capital markets with an ample supply of high-quality carbon credits secured on terms that should provide a built-in premium for the Company, a key factor differentiating us from our competition. We believe that the Streaming Agreement would enable us to become a market leader in carbon offsetting on the strength of our business model sourcing carbon credits for our clients.

In technology, our principal competitors are Persofoni AI, which offers a climate management and accounting platform (CMAP) for large companies to manage, analyze, and disclose carbon emissions data and has raised $114,000,000 to date; Envizi, which provides basic climate risk analysis for organizational and strategic planning and was acquired by IBM in January 2022; Newco Emitwise Limited, which offers a carbon management platform to helps businesses track and manage their carbon footprints and has raised $16,000,000 raised to date; and Sphera Solutions, Inc., which combines reporting and data management tools to help companies establish safe practices and reduce liabilities in relation to carbon emissions and was acquired by Blackstone in October 2022.

While competition is increasing in carbon technology, our competitors do not offer complete end-to-end solutions for emitters to achieve their net emissions reduction goals. The Company's technology, expertise, and exclusive partnerships provide a comprehensive package to equip emitters to accurately assess their emissions profiles, craft effective plans to achieve their emissions reduction goals, execute such plans, and engage stakeholder support. The Company offers carbon accounting tools that allow emitters to gauge their emissions efficiently, clearly, and accurately, an unparalleled team of experts to craft actionable plans for emitters to effectively achieve their emissions goals, direct access to significant supplies of the highest quality carbon offsets available at discounted prices through our streaming partnership with CarbonEthic, technology and expertise to effectively evaluate other third-party carbon offset projects and credits, and industry-leading media and public relations teams with expertise in crafting and delivering targeted messaging relating to ESG, emissions balancing, and sustainability programs. The combination of these elements sets us apart from our competition in ways that they cannot readily replicate.

**Sources of Revenue**

The Company expects to derive its revenue from the sale of carbon credits and ESG consulting. If the Company and CarbonEthic enter into the Streaming Agreement, and its terms reflect those envisioned by the Letter of Intent, the Company expect to generate the majority of its revenue from the purchase and sale of carbon credits to emitters that seek to offset their emissions.

The Company plans to generate additional revenue by providing consulting services to emitters that require assistance with assessing their emissions footprint and emissions-related exposures, defining custom-tailored plans to balance their emissions through combinations of emissions reduction and offsetting initiatives, and communicating their ESG strategies, investments, and activities to their stakeholders.

**The Company's Team**

As of the date of this Offering Circular, the Company employs five full-time employees in British Columbia, Canada, and Greenwich, Connecticut. The Company's directors, officers and key employees have over 50 years of combined experience in the ESG industry (see Item 10 below titled "Directors and Officers").

Our advisors include:

● **Riccardo Valentini** is a leading expert in climate change and nature-based carbon sequestration and has been a leading member of the Intergovernmental Panel on Climate Change (IPCC), which was awarded the Nobel Peace Prize in 2007. A graduate of the University of Rome "La Sapienza" with a degree in Physics, Mr. Valentini became a researcher at the University of Tuscia, Faculty of Agriculture, in 1987, continuing previous work on plant-climate interactions. A pioneer of terrestrial carbon research, he has served on the scientific committee of the Global Carbon Project, as Chairman of the UN Global Terrestrial Observation System, as lead author of the IPCC reports on Climate Impacts and Adaptation, and as a leader of the Smart Urban Nature Lab. He has been awarded the European Research Council's Senior Advanced Grant concerning the role of African tropical forests in the global greenhouse gas balance. Separately, he received the Norbert Gerbier-Mumm International award; the Zayed International Prize for the Environment; the Laurea Honoris Causa Faculté Universitaire des Sciences Agronomiques de Gembloux; the Ernst Heckel Prize of the Federation of European Ecological Societies; and the National Geographic Explorer Award with over 200 published, peer-reviewed papers. He also created and patented an innovative tree-health sensor (TreeTalkerTM), used on over 2,000 trees throughout the globe. In 2014 he was named in Thomson Reuters' *Highly Cited Researchers*, a list of the top 1% most cited researchers in the world.

● **Taimur Jamil** is Chief Investment Officer of Sol-REIT, where he leads investment strategy, underwriting, credit risk analysis, portfolio management and asset management. He brings over 18 years of expertise in financial markets, structured credit, credit risk, energy efficient financing and underwriting. Before joining Sol-REIT, Taimur was Managing Director at CounterPointe Sustainable Real Estate, a sustainable infrastructure platform partly owned by Hannon Armstrong (NYSE: HASI). Previously, he worked at Spruce Finance, a consumer lending platform for energy efficiency financing, where he directed the firm's credit policy and helped develop and launch its residential PACE program. Before joining Spruce, he was the head of capital markets and asset management at Sol-Wind, a renewable energy YieldCo. Previously, he was a Partner at CounterPointe Capital Management, a $250 million credit fund. Before joining CounterPointe, Taimur was a Director in Merrill Lynch's principal finance group, and he was previously Lead Analyst for Esoteric Structured Products at Moody's. Taimur started his career as a software engineer at Cambridge Technology Partners. He holds an MBA in Finance and Strategic Management from the University of Chicago, an ME in Engineering Management from Dartmouth College and a BS in Electrical Engineering from Northeastern University.

● **Claude Villeneuve**, the author of several books and scientific papers on climate change and sustainability, is a biologist and professor in the Department of Fundamental Sciences at Université du Québec à Chicoutimi (UQAC) and an expert in sustainable development and climate change, with over 40 years of experience in higher education, research, and fieldwork in environmental sciences. He has served as Chair of Eco-Counseil, which has been providing technical training to environmental specialists since its inception in 2003, and as chair of the Carbone Boréal research infrastructure. In 2001, he created the ECO-consulting DESS program at UQAC, and he has led teams that created the programs for eco-consulting and sustainable carbon management used to train leading climate change specialists, including programs on climate change science, emissions quantification, reduction projects, offsetting, voluntary carbon markets and regulations. He served as an expert for the UN Framework Convention on Climate Change in 2001 and 2005 and as an expert and collaborator on the development of the ISO 14064 standards for carbon credit qualification. His university course on greenhouse gas management is recognized by the Canadian Standards Agency. His chair in Eco-Council team launched the Boreal Carbon Project, which has planted nearly 1.5 million trees and offset nearly 100,000 tons of CO<sub>2</sub> emissions.

● **Louis Fradette** has worked in both academia and industry over his 25-year career. He took a position at Polytechnique in 2004 after spending almost 10 years in industry, first as a process engineer for Petro-Canada and, after completing a PhD, in multiple positions in R&D management. He held the NSERC Total research chair in multiphase hydrodynamics at extreme conditions from 2011 to 2016. At the same time, Dr. Fradette joined CO2 Solutions Inc. in 2013, as Chief Technology Officer and senior vice-president of process and engineering. After successful demonstrating CO2 Solutions' capture technology at large scale (2015) and starting a first large-scale commercialization project (2016) at Resolute Forest Products in St-Félicien, Quebec, he led the Valorisation Carbone Québec project, a unique CAD $30 million project aiming at the industrial demonstration of CO<sub>2</sub> capture and utilization for the production of value-added products.

● **Brant Pinvidic**, is an award-winning film director, author, veteran television producer, C-level sales and presentations coach, keynote speaker, top-rated podcast host, and a columnist for Forbes. He has been named to the Hollywood Reporter's 30 Most Powerful Reality TV Sellers and is widely recognized as one of the great creative sales leaders in Hollywood. As the author of the acclaimed "3-Minute Rule", Brant is highly sought after as an expert in sales, storytelling, and messaging, and he has taken the life, business, and storytelling lessons he developed during his Hollywood career and applied them to uniquely bridge the entertainment, ESG, and business sectors. Over the years, Brant has helped many companies to define impactful messaging and sales strategies to drive revenue growth and brand awareness, including numerous clean technology, climate tech, and carbon offset companies.

● **Hazel Saffery** is a leading carbon attorney in Canada. She is a Partner in Dentons LLP's Energy Group and its Carbon Group. Hazel is a seasoned attorney with 15 years' experience advising clients on commercial and regulatory matters relating to carbon offsets, credit development, and global carbon markets. Over the years, she has developed a robust carbon practice focused on trading compliance credits as well as voluntary credits. Her practice includes representing project developers, sponsors, and investors on project development agreements and related financing transactions. Hazel regularly advises on carbon credit creation, registration, monetization, and transfer of offsets, sales, purchases, and mitigation of project risks. Her clients include several of the largest energy and carbon companies in the industry.

**Legal Proceedings**

From time to time, the Company may be involved in legal proceedings or may be subject to other claims against it. The results of such legal proceedings and the resolution of such claims cannot be predicted with certainty; but in either case, they could have an adverse impact on the Company's business or the development of the ESG consulting services because of defense and settlement costs, diversion of resources and other factors. The Company is not currently subject to any material claims against it, nor is it involved in any legal proceedings.

**ITEM 8.**

**DESCRIPTION OF PROPERTY**

**ITEM 9.**

**MANAGEMENT'S DISCUSSION**

**AND ANALYSIS OF FINANCIAL CONDITION**

**AND RESULTS OF OPERATIONS**

*This section regarding "Management's Discussion and Analysis of Financial Condition and Results of Operations" includes a number of forward-looking statements that reflect the Company management's current views with respect to future events and financial performance. You can identify these statements by forward-looking words such as "may" "will," "expect," "anticipate," "believe," "estimate" and "continue," or similar words. Those statements include statements regarding the intent, belief or current expectations of the Company and members of its management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.*

*Readers are urged to carefully review and consider the various disclosures made by the Company in this report and in its other reports filed with the Commission. Important factors currently known to the Company could cause actual results to differ materially from those in forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or any changes in the future operating results over time. The Company believes that its assumptions are based upon reasonable data derived from and known about its business and operations. No assurances are made that actual results of operations or the results of the Company's future activities will not differ materially from its assumptions. Factors that could cause differences include, but are not limited to, expected market demand for the Company's services, fluctuations in pricing for materials, and competition.*

 

*Unless otherwise indicated or the context requires otherwise, the words "we," "us," "our," or the "Company" refer to EthicStream Inc.*

The following information should be read in conjunction with our audited consolidated financial statements and accompanying notes, which are included in this Offering Circular. As noted above, the following discussion may contain forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements.

Included in Management's Discussion and Analysis of Financial Condition and Results of Operations are, among others, the following sections:

● Business Overview

● Operating Results

● Liquidity and Capital Resources

● Private Placement Offering

● Plan of Operations

● Critical Accounting Policies

● Trends Information

**Business Overview**

 

The Company is a Delaware corporation formed on April 28, 2022 to provide corporate emitters with complete, custom-tailored solutions to their carbon emissions needs. We acquire high quality carbon credits at discounted prices and sell them at market prices to companies that seek to offset their emissions. We also intend to provide ESG consulting services and technology solutions to provide emitters with a one-stop solution for balancing their carbon footprints. Based on the terms set forth in the Letter of Intent, the Company would expect to be able to leverage that Streaming Agreement and the Company management team's experience and knowledge in the carbon, forestry, and sustainability industries to generate attractive returns for investors while meaningfully contributing to the fight against climate change.

Since its formation, the Company has been engaged primarily in negotiating its streaming arrangements and in developing the financial, offering, and other materials to begin fundraising. We are considered to be an early-stage company, since we are devoting substantially all of our efforts to establishing our business and planned principal operations have only recently commenced.

***Sources of Revenue***

Our management team and advisors have a combined 200 years of experience in the ESG industry. With connections to both private and public sector leaders in carbon offsetting and consulting, we have existing arrangements in place for the sale of carbon credits and provision of consulting services to corporate clients.

Assuming that the Company enters into the Streaming Agreement on the terms set forth in the Letter of Intent, we expect to generate more than 95% of our revenue from carbon credit sales, which CarbonEthic expects to commence in 2024. On that assumption and on the basis of current projections, we anticipate more than $69 million in revenue in the first year of sales, and we anticipate that sales would increase by approximately 475% from 2024 through the end of 2028. The chart below details our estimates of annual carbon credit sales revenue during that period:

![](partiiandiii_004.jpg)

We anticipate that our consulting services will constitute a significantly smaller proportion of our revenues than our sales of carbon credits, though this activity is expected to drive carbon credit sales as well. The chart below details our projected consulting revenue through the end of 2028:

![](partiiandiii_005.jpg)

**Operating Results**

The Company was only recently formed (April 2022) and has not generated any revenue as of the date of this Offering Circular.

***Liabilities***

As of September 30, 2022, the Company owed CarbonEthic $106,603 in reimbursable expenses. However, the Company and CarbonEthic subsequently agreed to enter into a convertible note agreement in which the $106,603 of reimbursable expenses were converted into a convertible note.

***Selling, general and administrative expenses***

The Company incurred $106,603 in general and administrative expenses from the time of its formation on April 28, 2022 through September 30, 2022 (the "***2022 Q3 Fiscal Period***"), which include $15,000 in legal fees, $3,500 in auditor fees, $89,985 in fees to the Broker and its affiliates, and $2,386.94 in other administrative expenses. As a newly formed company, to date, the Company has not made payroll to any of its officers or directors.

**Liquidity and Capital Resources**

As of September 30, 2022, the Company had no cash or cash equivalents (or other current assets). However, through its outstanding convertible note agreement with CarbonEthic, the Company has access, as of the date of this Offering Circular, to an additional $143,000 in capital. Other than the convertible note, the Company has no financial obligations as of the date of this Offering Circular.

***Sources of Liquidity***

The Company expects that the capital that it hopes to raise in this Offering ($10 million) will be sufficient to pay anticipated cash operating expenses and to meet capital expenditure requirements for 48 months. Once we commence the sale of carbon credits and consulting services to our corporate clients at the end of 2023, we expect all further operations to be funded by the revenue generated from such operating activities.

***Dilution***

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The sale of additional equity may result in dilution to our existing stockholders. If, in addition to this Offering, the Company decides to finance through the issuance of equity other than the Class A Common Stock, any such securities might provide their holders with rights senior to those associated with the Class A Common Stock. If the Company decides to raise additional funds through the issuance of debt, the related credit agreements could contain covenants that would restrict our operations, and such debt would rank senior to the Class A Common Stock. The Company might require additional capital beyond currently anticipated amounts, and additional capital might not be available on reasonable terms, or at all.

***Debt and Convertible Debt Financing***

We do not currently intend to finance our operations through debt or convertible debt financing, though circumstances may arise that render debt financing a preferred option to equity financing.

**Private Placement Offering**

We may concurrently offer shares of our Class A Common Stock in a private placement offering exempt from the registration requirements of the Securities Act pursuant to Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D ("***Regulation D Offering***"). Any Regulation D Offering would be made only to "accredited investors," as that term is defined in Rule 501(a) of Regulation D.

**Plan of Operations**

The Company is focused on building an exclusive streaming platform for distributing carbon offsets into the marketplace, as well as providing premier ESG and climate consulting services. Based on the terms set forth in the Letter of Intent, we expect that the Streaming Agreement would enable us to purchase carbon credits at substantial discounts and then to profitably sell them at market prices, and the Company anticipates that it would undertake the following over the next 12 months:

● **Acquisition of carbon credits**. We intend to acquire carbon credits from top-tier carbon offset projects globally, beginning with the KDI Project. In assessing a potential partnership with a carbon offset project, we analyze the quality and viability of the project from a technical, sustainability, and economic perspective, the marketability of the carbon credits to be generated by the project, the community benefits and impacts of the project, and the pricing of the carbon credits relative to market pricing and comparable recent sales. The Company will take steps to manage the risks associated with the holding of carbon credits or options to purchase such credits by, where practicable, minimizing and/or hedging its exposure generally.

● **Streaming Agreement**. Under the terms of the Streaming Agreement that are contemplated by the Letter of Intent , we would purchase 10% of the carbon credits produced from the KDI Project, and we would expect to prepurchase carbon credits at prices that equate to a discount of up to 30% as compared to prevailing market pricing. The Streaming Agreement would require CarbonEthic to sell to the Company, at the agreed-upon pricing, 10% of the carbon credits produced each year from the KDI Project. The Streaming Agreement would have an initial term of ten years with a mutual option to extend the term period to the full life of the relevant projects, and it would pave the way for us to participate in future CarbonEthic projects under similar terms. As of the date of this Offering Circular, CarbonEthic has a project pipeline that exceeds 10,000,000 additional hectares.

● The Streaming Agreement would provide the framework for CarbonEthic to sell and deliver ten percent (10%) of the carbon credits that it generates from its (and its affiliates') nature-based projects located in British Columbia, Canada and elsewhere to the Company, as purchaser. The Company would pay CarbonEthic a price per carbon credit based on the actual price at which the Company sells the credit to a third party.

● The Company's consulting team is experienced in advising governments and corporations regarding ESG and carbon emissions matters. These professionals have expertise in helping corporate emitters to assess their carbon footprints and create effective plans to balance their carbon footprints. The team will work closely with clients to implement the carbon balance plan effectively, collaborating with the Company's carbon credit marketing and sales teams to source appropriate credits for each client.

The Company is of the opinion that the proceeds from this Offering will satisfy its cash requirements and that it will not be necessary to raise additional funds in the next 48 months to implement the Company's plan of operations. The money raised from this Offering will be used, in part, for acquiring carbon credits and to develop consulting products.

**Critical Accounting Policies**

The Company prepares its financial statements in conformity with accounting principles generally accepted in the United States (GAAP), which require the Company to make estimates and assumptions about future events that affect the amounts reported in the financial statements and accompanying notes. Future events and their effects cannot be determined with absolute certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results inevitably will differ from those estimates, and such differences may be material to the financial statements. The most significant accounting estimates inherent in the preparation of our financial statements include long-term investments, the recoverability of long-lived assets, impairment analysis of intangible assets, and stock-based compensation.

Statements of the Company's financial position, results of operations and cash flows are affected by the accounting policies the Company has adopted. In order to get a full understanding of the Company's financial statements, one must have a clear understanding of the accounting policies employed.

***Impairment of long-lived assets***

While the Company does not currently have long-lived assets, it may, in the future, acquire or invest in such assets either pursuant to the Streaming Agreement, if executed, or in the development of its consulting products. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to undiscounted future cash flows expected to be generated by the asset. If such assets are impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value.

***Recently issued and adopted accounting pronouncements***

The Company continually assesses any new accounting pronouncements to determine their applicability to the Company's financial statements. When it is determined that a new accounting pronouncement affects the Company's financial reporting, the Company undertakes a review to determine the consequences of the change to its financial statements and believes that proper controls are in place to ascertain that the Company's financial statements properly reflect any material changes.

***Off-Balance Sheet Arrangements***

The Company does not currently have and has never had any off-balance sheet arrangements.

**Trend Information**

The core elements of the Company's growth strategy include selling carbon credits that it has purchased at a discount of up to 30% and providing consulting services to assist corporate clients with their ESG strategy. The Company plans to continue to invest significant resources to accomplish these goals, particularly in acquiring carbon credits from CarbonEthic, and the Company anticipates that its operating expenses will continue to increase for the foreseeable future. These investments are intended to contribute to long-term growth, but they may affect near-term profitability.

The Company's future growth will continue to depend, in part, on attracting corporate clients with discounted carbon credits and high-quality consulting services. The Company plans to increase its sales and marketing spending and seek to attract these clients. We expect to rely on industry relationships in the energy, entertainment, asset management, and finance sectors, among others. We intend to leverage technologies to help emitters assess their carbon footprints and then offer a suite of solutions to enable them to balance their emissions. Our suite of solutions will include consulting services and sourcing and selling carbon offsets to help them achieve their emissions goals.

**ITEM 10.**

**DIRECTORS AND MANAGEMENT**

Our directors, executive officers and other significant individuals, their positions, and ages as of November 1, 2022, their terms of office, and their approximate hours of work per week are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Position** | **Age** | **Term of Office** | **Approximate hours per week for part-time employees** |
| Joshua Soloway | Chief Executive Officer\* and Director | 45 | April 28, 2022 | N/A |
| <br> Michael (Brent) Tolmie | <br> Chairman and Director | 45 | April 28, 2022 | 5  |
| Geoff Fawkes | Chief Technology Officer | 58 | November 1, 2022 | 5 |
| Jacques Prescott | Chief Sustainability Officer | 69 | April 28, 2022 | 5  |
| Martin Prescott | Director | 51 | April 28, 2022 | N/A |

---

\*Joshua Soloway is currently an independent contractor of the Company, and has not entered into any consultant or employment agreements with the Company.

**<u>Executive Officers</u>**

***Joshua Soloway***, *Chief Executive Officer*. Joshua is an experienced entrepreneur and capital markets executive. As an attorney, investment banker, and entrepreneur, Joshua has decades of experience in capital markets, energy, and technology. He is an experienced leader, having been the Chief Legal Officer, Head of Capital Markets, and Board Member at Carbon Ethic Group, a group of companies committed to addressing issues of transparency, accountability, and quality in the carbon markets by leveraging its proprietary technology stack and expert team to manufacture the highest quality credits in the market utilizing natural climate solutions at scale. Prior to joining CarbonEthic, Joshua was a partner at various law firms in New York City, where he advised clients on a range of corporate, commercial, and transactional matters affecting middle market companies, emerging growth companies, and asset managers with a focus on technology, energy, ESG, venture capital, and securities matters. Joshua began his legal career at PricewaterhouseCoopers, LLP (PwC), where he advised institutional asset managers, financial institutions, and strategic investors on international tax, fund structuring, and investment transactions. While at PwC, he advised environmental asset managers and investors on numerous transactions, including the world's first greenhouse gas credit aggregation pool, environmental asset investment structures, and numerous carbon offset projects totaling in excess of $1.5 billion in value. Joshua earned his bachelor's degree in international affairs from the University of Colorado-Boulder and a Juris Doctor degree from Boston University School of Law.

 ****

***Michael Brent Tolmie ("Brent")***, *Chairman*. Brent is a proven leader with over 25 years of experience in the construction, forestry, and energy industries. He is a renewable energy advocate; his companies worked on more than a dozen run-of-the-river projects for independent power producers, most of which were acquired by Innergex (INE:TSE). Brent is also a blockchain enthusiast, having mined and traded Ethereum, Bitcoin, Litecoin and others believing in the decentralization of information as a solution to many of the world's transparency issues. Brent has advised on multibillion dollar corporate finance transactions, company and shareholder succession, and transition issues for enterprise clients, and is currently developing a sustainable residential recreational community and working on scalable solutions to establishing new forests with indigenous partners. Prior to starting his own companies, he managed resource and construction projects across Western Canada in full cycle forest management, including in planning, layout, road development, full phase harvesting, sorting, brokerage, and silvaculture. His teams performed more than $100 million in contracts for multi-billion dollar projects and maintained a log sorting operation from 2004 to 2017, sorting millions of cubic meters of logs and selling them to international and domestic customers across the world. Brent has a Master of Business Administration from Royal Roads University and a bachelor's degree from Rocky Mountain College, as well as certifications in project management, change management, and corporate board directorship. He also completed a Directors Education Program at Simon Fraser University.

 ****

***Geoff Fawkes,*** *Chief Technology Officer*. Geoff is a technology executive with more than 20 years of experience in software development and business operational management. Most recently, he served as the Vice President of Technology at BuildDirect, the first eCommerce technology for the home improvement industry, and on the executive team of a TSX-V company, where he led a successful public exit in 2021. Previously, he was the Vice President of Software Development at DDS Wireless, a global provider of mobile solutions for fleet management. Geoff has more than 15 years of expertise in offshore software development in India, China, and Brazil, where his experience spans industries and technologies across eCommerce, Demand Chain Management (DCM), security and online banking, Customer Relationship Management (CRM), and telecommunications. He received a Master of Business Administration degree from Simon Fraser University and a Bachelor of Science in Computer Science from the University of British Columbia.

 ****

***Jacques Prescott***, *Chief Sustainability Officer*. Jacques is an internationally recognized ESG specialist. As a consultant for international organizations, including the International Union for Conservation of Nature, United Nations Development Programme, Food and Agriculture Organization, Council for Exceptional Children, and European Union, Jacques developed ESG strategies for many countries. As a director in the Office of the Auditor General of Canada, he reviewed the environmental performance of federal entities and trained auditors in the consideration of environmental issues in performance audits. Jacques has both a master's degree and a Bachelor of Science in biology from the Université de Montréal.

**<u>Board of Directors</u>**

The board of directors of the Company (the "***Board of Directors***" or the "***Board***") consists of three members, including – in addition to Joshua Soloway and Brent Tolmie – Martin Prescott.

***Martin Prescott*** is a member of the Board of Directors, and is Chief Business Officer of CarbonEthic Holdings, Inc., where he focuses on driving sales growth across North America and Europe. A serial entrepreneur, he has over 25 years of experience in market trading, blockchain, and investment. Martin is a public speaker who educates business leaders and investors about capital markets and blockchain technology. He built two education companies, including a French-speaking market trading school and a blockchain technology consulting firm. Martin attended College Laval.

**ITEM 11.**

**COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS**

The following table indicates the anticipated annual compensation of each of the three highest paid persons who are executive officers or directors during the 2022 Q3 Fiscal Period:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Capacities in which compensation was received** | **Cash compensation (2022)\*** | **Other**<br> **compensation**<br> **(2022)** | **Total compensation (2022)** |
| Joshua Soloway | Chief Executive Officer | $0 | $0 | $0 |
| Brent Tolmie | Chairman | $0 | $0 | $0 |
| Geoff Fawkes | Chief Technology Officer | $0 | $0 | $0 |

---

\* While the directors and executive officers have not received any cash compensation to date, it is anticipated that Joshua Soloway will receive a yearly salary of $495,000, Brent Tolmie will receive a yearly salary of $120,000, and Geoff Fawkes will receive a yearly salary of $70,000, in each case in cash compensation. The Company believes it is unlikely that any director or executive officer will be paid his or her 2022 compensation before the beginning of 2023.

**ITEM 12.**

**SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN SECURITYHOLDERS**

The following table sets forth the information concerning the number of outstanding shares of the Company's common stock owned beneficially as of the date of this Offering Circular by (i) all Company executive officers and directors as a group and (ii) each person who beneficially owns more than 10% of either the Class A Common Stock or the Company's Class B common stock (the "***Class B Common Stock***" and, together with the Class A Common Stock, the "***Company Common Stock***"). All shares shown in the table as beneficially owned are owned directly by the named beneficial owner(s). Unless otherwise indicated, all shares shown in the table represent shares of Class B Common Stock ("***Class B Shares***"). The Company has no class of voting securities other than the Class A Shares and Class B Shares.

*The stockholders listed below possess sole voting and investment power with respect to the shares of Company Common Stock they own.*

---

| | | | |
|:---|:---|:---|:---|
| Name and address of beneficial owner | Amount of beneficial ownership | Amount of beneficial ownership acquirable | Percent of class (approximate) |
| Directors and executive officers as a group | 5356000 | 0 | 100.00% |
| Joshua Soloway<sup>(1)</sup> | 1854000 | 0 | 34.62% |
| Brent Tolmie<sup>(2)</sup> | 1854000 | 0 | 34.62% |
| Martin Prescott<sup>(3)</sup> | 1030000 | 0 | 19.23% |
| Jacques Prescott<sup>(4)</sup> | 618000  | 0  | 11.54% |

---

<sup>(1)</sup> 500 West Putnam Avenue, Suite 400, Greenwich, CT 06830.

<sup>(2)</sup> 500 West Putnam Avenue, Suite 400, Greenwich, CT 06830.

<sup>(3)</sup> 500 West Putnam Avenue, Suite 400, Greenwich, CT 06830.

<sup>(4)</sup> 500 West Putnam Avenue, Suite 400, Greenwich, CT 06830.

 ****

 ****

***Changes in Control***

There are no present arrangements or pledges of any of our securities, equity or debt, that may result in a change in our control.

***Legal and Disciplinary History of Our Executive Officers and Directors***

During the last five years, (i) no petition under the federal bankruptcy laws or any state insolvency law has been filed by or against any Company executive officer or director, or any person nominated to become a Company director, nor has any receiver, fiscal agent or similar officer been appointed by a court for (a) the business or property of such person, (b) any partnership in which he was general partner at or within two years before the time of such filing, or (c) any corporation or business association of which he was an executive officer at or within two years before the time of such filing and (ii) neither any Company executive officer or director, nor any person nominated to become a Company director: (a) has been convicted in a criminal proceeding or named as a defendant in a pending criminal proceeding (excluding, in each case, traffic violations and minor offenses); (b) has been the subject of an entry of an order, judgment, or decree, not subsequently reversed, suspended, or vacated, by a court of competent jurisdiction, that permanently enjoined, barred, suspended, or otherwise, his involvement in any type of business, securities, commodities, or banking activities; (c) the subject of a finding or judgment by a court of competent jurisdiction (in a civil action), the Securities and Exchange Commission, the Commodity Futures Trading Commission or a state securities regulator of a violation of U.S. federal or state securities or commodities trading laws, which finding or judgment has not been reversed, suspended or vacated; (d) the subject of an order by a self-regulatory organization that permanently or temporarily barred, suspended, or otherwise limit his/their involvement in any type of business or securities activities; or (e) a disqualified person under Rule 262, Rule 505(b)(2)(iii), and Rule 506(d)(2)(ii) under the Securities Act.

**ITEM 13.**

**INTEREST OF MANAGEMENT IN CERTAIN TRANSACTIONS.**

The Company is a party to the following transactions with related parties:

The following is a description of certain transactions involving us and persons who are considered "related persons," as such term is defined in Item 404 of Regulation S-K.

At the time of this offering, CarbonEthic has invested $250,000 in the Company in exchange for a 39% equity interest.

The following people hold roles at both the Company and CarbonEthic:

● Company Chairman, Michael Brent Tolmie, also serves as Chairman and CEO of CarbonEthic.

● Company CEO, Joshua Soloway, also serves as Chief Legal Officer and Director at CarbonEthic.

● Company Chief Sustainability Officer, Jacques Prescott, also serves as Chief Sustainability Officer and Director at CarbonEthic.

● Company Chief Technology Officer, Geoff Fawkes, also serves as VP of Engineering at CarbonEthic.

● Company Director, Martin Prescott, also serves as Chief Business Officer and Director at CarbonEthic.

Riccardo Valentini, Claude Villeneuve, Louis Fredette, Brant Pinvidic, and Hazel Saffery are also advisors of CarbonEthic.

Other than as disclosed in the preceding paragraphs, from the time of the Company's formation on April 28, 2022 through the date of this Offering Circular, the Company has not been, or is not to be, a participant in any transaction or currently proposed transaction in which (i) any Related Person (as defined below) had or is to have a direct or indirect material interest (other than their Company compensation, which is described under "Compensation of Directors and Executive Officers") and (ii) the amount involved in the transaction exceeded or will exceed the lesser of (1) $120,000 and (2) one percent of the average of the Company's total assets at year-end for the last two completed fiscal years. For purposes of the preceding sentence, a "***Related Person***" is (A) any director or executive officer of the Company, (B) any nominee for election as a director of the Company, (C) any person who beneficially owns more than 10% of any class of the Company's voting securities, (D) any promoter of the Company or (E) any immediate family member of any person specified in clause (A), (B), (C) or (D).

Any future transactions between the Company, on the one hand, and a Related Person, on the other hand, will be entered into on terms that are commercially reasonable or otherwise no less favorable to the Company than those that can be obtained from any third party other than a Related Person.

**ITEM 14.**

**SECURITIES BEING OFFERED**

***General***

The following description summarizes important terms of our Class A Shares. This summary does not purport to be complete and is qualified in its entirety by the provisions of our Amended and Restated Certificate of Incorporation (as amended, restated, amended and restated, or otherwise modified prior to the date of this Offering Circular, the "***Certificate of Incorporation***") and our bylaws, which have been filed as exhibits to the Offering Statement. For more detailed information, please refer to these documents, which are attached to the Offering Statement as exhibits.

As of the date of this Offering Circular, the Company's authorized capital stock consists of 20,000,000 shares of Company Common Stock, of which 9,373,000 shares are issued and outstanding. As of the date of this Offering Circular, no preferred stock is authorized under the Certificate of Incorporation (and, consequently, no preferred stock is issued or outstanding).

We have not undergone a stock split; paid either a cash dividend or a stock dividend; effected a recapitalization of our securities; entered into a merger; acquired any material asset, partnership, or corporation; effected a spin-off; or performed a reorganization from the date of our formation. With the exception of the contemplated acquisition of material assets, as described in this Offering Circular, no such acts or activities are being contemplated for the future.

This Offering relates to the offer and sale of up to 1,000,000 Class A Shares, as described below.

***Shares***

The number of Class A Shares subject to this Offering is 1,000,000. The minimum purchase per investor is $500 (50 Class A Shares). Additional purchases may be made in multiples of $10 (1 Class A Share). No investor will be entitled to a fractional Share.

***Class A Shares***

*Voting Rights.* The holders of the Class A Shares are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders. Under the Certificate of Incorporation and our bylaws, any corporate action to be taken by vote of stockholders other than for election of directors is authorized by the affirmative vote of a majority of the votes cast. Directors are generally elected by a plurality of stockholder votes, except that vacancies on the board may also be filled by the affirmative vote of a majority of the remaining directors (even if less than a quorum). Stockholders do not have cumulative voting rights. The holders of the Class B Shares (which are not being offered in this Offering) are entitled to five votes for each share held of record on all matters submitted to a vote of the stockholders; but otherwise, the Class B Shares confer the same rights on their holders as the Class A Shares.

*Dividend Rights.* Holders of Class A Shares are entitled to receive, ratably, those dividends, if any, that may be declared from time to time by the Board out of legally available funds.

*Liquidation Rights.* In the event of our liquidation, dissolution or winding up, holders of Class A Shares would be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities.

*Other Rights.* Holders of Class A Shares have no preemptive, conversion or subscription rights, nor do any redemption or sinking fund provisions apply to the Class A Shares. The rights, preferences, and privileges of the holders of Class A Shares would be subject to, and could be adversely affected by, the rights of the holders of shares of any future class or series of preferred stock.

***Shares Eligible for Future Sale***

As of the date of this Offering Circular, no class of Company Common Stock has any public market. Although we are considering whether to apply to list – on a stock exchange or other trading platform – the Class A Shares sold in this Offering, the Class A Common Stock is not currently traded on any exchange or on the over-the-counter market, and we can provide no assurance that it will ever be quoted on a stock exchange or a quotation service. We cannot predict the effect, if any, that market sales of Class A Shares, or the availability of Class A Shares for sale, will have on their prevailing market price from time to time. Nevertheless, sales of substantial amounts of the Class A Common Stock, including the issuance of Class A Shares upon the exercise of outstanding options or warrants, or the perception that these sales or issuances could occur in the public market after this Offering concludes, could adversely affect market prices prevailing from time to time and could impair our ability to raise capital through the sale of our equity securities.

If all 1,000,000 Class A Shares are sold, the maximum number offered for sale during the Offering Period, 5,017,000 Class A Shares will be outstanding.

***Rule 701 Inapplicable***

In general, under Rule 701 under the Securities Act, any of our non-affiliate employees, directors, consultants, or advisors who purchased Class A Shares from us in connection with a qualified compensatory stock or option plan or other written agreement and in compliance with Rule 701 would be eligible to resell those Class A Shares, in reliance on Rule 144, ninety (90) days after the Company become subject to the periodic reporting requirements of the Exchange Act, but without compliance with Rule 144's various conditions, including compliance with specified holding periods. The Company has adopted, and its stockholders have recently approved, an equity incentive plan (see Item 4 above titled "Dilution").

***Trading Suspensions; Administrative Actions***

Neither the Company nor its officers or directors are, and at no time have any of them been, subject to any trading suspension order or any other type of administrative action or order issued by the Commission or FINRA.

**LEGAL MATTERS**

Certain legal matters with respect to the Class A Shares will be passed upon by the law firm of Ross Law Group, PLLC, New York, New York.

**EXPERTS**

For the 2022 Q3 Fiscal Period, the Company will use the services of Assurance Dimensions, LLC of Tampa, Florida, an independent registered public accounting firm. Financial statements will be included, when they are made available, in reliance upon such firm's authority as an expert in accounting and auditing.

Financial Statements and Report of Independent Certified Public Accountants

**EthicStream Inc.**

September 30, 2022

**EthicStream Inc.**

---

| | |
|:---|:---|
| **Table of Contents** | **Table of Contents** |
| [Independent Auditor's Report](#S1_001) | 1-2 |
| [Balance Sheet](#S1_002) | 3 |
| [Statement of Operations](#S1_003) | 4 |
| [Statement of Stockholder's Deficit Statement of Stockholder's Deficit](#S1_004) | 5 |
| [Statement of Cash Flows](#S1_005) | 6 |
| [Notes to Financial Statements](#S1_006) | 7-8 |

---

![](fin_001.jpg)

**Independent Auditor's Report**

Board of Directors and Stockholder

**EthicStream Inc.**

**Opinion**

We have audited the accompanying financial statements of **EthicStream Inc.** (the "Company"), which comprise of the balance sheet as of September 30, 2022, and the related statements of operations, changes in stockholders' deficit, and cash flows for the period from April 28, 2022 through September 30, 2022, and the related notes to the financial statements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of September 30, 2022, and the related statements of operations, changes in stockholders' equity, and cash flows for the period from April 28, 2022 through September 30, 2022 in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

**Basis of Opinion**

We conducted our audits in accordance with auditing standards generally accepted in the United States of America ("U.S. GAAS"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

**Substantial Doubt about the Company's Ability to Continue as a Going Concern**

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note C to the financial statements, the Company for the period from April 28, 2022 through September 30, 2022 the Company incurred net losses of approximately $107,000. Management's evaluation of the events and conditions and management's plans regarding those matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to that matter.

**Responsibilities of Management for the Financial Statements**

Management is responsible for the preparation and fair presentation of the financial statements in accordance with U.S. GAAP, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

**ASSURANCE DIMENSIONS CERTIFIED PUBLIC ACCOUNTANTS & ASSOCIATES**

**also d/b/a McNAMARA and ASSOCIATES, PLLC**

**TAMPA BAY**: 4920 W Cypress Street, Suite 102 \| Tampa, FL 33607 \| Office: 813.443.5048 \| Fax: 813.443.5053

**JACKSONVILLE**: 4720 Salisbury Road, Suite 223 \| Jacksonville, FL 32256 \| Office: 888.410.2323 \| Fax: 813.443.5053

**ORLANDO:** 1800 Pembrook Drive, Suite 300 \| Orlando, FL 32810 \| Office: 888.410.2323 \| Fax: 813.443.5053 **SOUTH FLORIDA**: 2000 Banks Road, Suite 218 \| Margate, FL 33063 \| Office: 754.800.3400 \| Fax: 813.443.5053

www.assurancedimensions.com

![](fin_001.jpg)

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with U.S. GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with U.S. GAAS, we:

● Exercise professional judgment and maintain professional skepticism throughout the audit.

● Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

● Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.

● Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

● Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

![](fin_002.jpg)

Tampa, Florida

October 29, 2022

P a g e \|2

**EthicStream, Inc.**

**Balance Sheet**

**September 30, 2022**

---

| | |
|:---|:---|
| **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;Current Assets | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL ASSETS | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES AND STOCKHOLDER'S DEFICIT** |  |
| &nbsp;&nbsp;&nbsp;**Current Liabilities** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Related party payable | $106603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL LIABILITIES | 106603 |
| &nbsp;&nbsp;&nbsp; Stockholder's deficit Common shares par $.0001 10,000,000 authorized, zero issued or outstanding as of September 30, 2022 |  |
| &nbsp;&nbsp;&nbsp;Additional paid in capital |  |
| &nbsp;&nbsp;&nbsp;Retained deficit | (106603) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL STOCKHOLDER'S DEFICIT | (106603) |
| TOTAL LIABILITIES AND STOCKHOLDER'S DEFICIT | $- |

---

The accompanying notes are an integral part of this financial statement.

P a g e \| 3

**EthicStream, Inc.**

**Statement of Operations**

**For the period from April 28, 2022 to September 30, 2022**

---

| | |
|:---|:---|
| REVENUE |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $- |
| EXPENSES |  |
| &nbsp;&nbsp;&nbsp;General and administrative expenses | 106603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 106603 |
| &nbsp;&nbsp;&nbsp;LOSS FROM OPERATIONS | (106603) |
| OTHER INCOME (EXPENSES) | - |
| NET LOSS | $(106603) |

---

The accompanying notes are an integral part of this financial statement.

P a g e \| 4

**EthicStream, Inc.**

**Statement of Stockholder's Deficit**

**For the period from April 28, 2022 to September 30, 2022**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Common Stock | Additional Paid In Capital | Retained Earnings | Total |
| April 28, 2022 | $- | $- | $- | $- |
| &nbsp;&nbsp;&nbsp;Net loss | - | - | (106603) | (106603) |
| September 30, 2022 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $- | $(106603) | $(106603) |

---

The accompanying notes are an integral part of this financial statement.

P a g e \| 5

**EthicStream, Inc.**

**Statement of Cash Flows**

**For the period from April 28, 2022 to September 30, 2022**

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CASH FLOWS FROM OPERATING ACTIVITIES<br>|  |
| &nbsp;&nbsp;&nbsp;Net loss | $(106603) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used by operating activities | (106603) |
| CASH FLOWS FROM INVESTING ACTIVITIES |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in) investing activities | - |
| CASH FLOWS FROM FINANCING ACTIVITIES |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by financing activities | 106603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NET INCREASE IN CASH |  |
| Cash at beginning of year | - |
| Cash at end of year | $- |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash paid during year for interest | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash paid during year for income taxes | $- |

---

The accompanying notes are an integral part of this financial statement.

P a g e \| 6

**EthicStream Inc.**

**Notes to Financial Statements**

**September 30, 2022**

**Note A – Nature of Business and Organization**

EthicStream Inc. ("the Company") was organized in April 2022 in the State of Delaware. Headquartered in Greenwich, CT, the Company plans to offer sustainability solutions to corporations, including emissions-related technologies, consulting services, and carbon offsets, including offsets purchased from Carbonethic Holdings Inc. and/or its affiliated entities, as part of a comprehensive solution to ESG issues.

**Note B – Significant Accounting Policies**

**Basis of Presentation**

The financial statements are prepared in accordance with accounting principles generally accepted in the United States of America.

**Cash and Cash Equivalents**

The Company considers all highly liquid instruments with an original maturity of less than three months to be cash and cash equivalents. The Company places its temporary cash investments with high quality financial institutions. At times, such investments may be in excess of FDIC insurance limits. The Company does not believe it is exposed to any significant credit risk on cash and cash equivalents.

**Income Taxes**

The Company provides for income taxes under ASC 740, *"Income Taxes."* Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 21% to the net loss before provision for income taxes for the following reasons:

Utilization of the NOL carry forwards, which don't expire of approximately $107,000 for September 30, 2022 for federal income tax reporting purposes, may be subject to an annual limitations. The Company has fully reserved for these NOL's as of September 30, 2022.

**Use of Estimates**

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

P a g e \| 7

**EthicStream Inc.**

**Notes to Financial Statements**

**September 30, 2022.**

**Note C – Going Concern**

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of September 30, 2022, the Company has a loss from operations, an accumulated deficit, no revenue, and a working capital deficiency. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the period ending September 30, 2022.

Management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

**Note D – Stockholder's Deficit**

At September 30, 2022, the Company had 10,000,000 common shares with par value of $0.0001 per share authorized and none of these shares were issued and outstanding.

**Note E – Related Party Transactions**

At September 30, 2022, the Company owed a related party $106,603 for start-up costs that were paid by that party.

**Note F – Commitments and Contingencies**

**Contingencies**

Certain conditions may exist as of the date the 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's management and its legal counsel assess 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 unasserted claims that may result in such proceedings, the Company's legal counsel evaluates the perceived merits of any legal proceedings or unasserted 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 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, together with an estimate of the range of possible loss if determinable and material, would be disclosed.

**Note G – Subsequent Events**

Management has assessed subsequent events through October 29, 2022, the date on which the financial statements were available to be issued.

P a g e \| 8

**Items 16/17**

**Index to Exhibits/Description of Exhibits**

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| **1.1** | [Broker-dealer agreement with DealMaker Securities LLC](ex1-1.htm) |
| **2.1** | [Certificate of Incorporation](ex2-1.htm) |
| **2.2** | [Amended and Restated Certificate of Incorporation](ex2-2.htm) |
| **2.3** | [Bylaws](ex2-3.htm) |
| **4.1** | [Form of Subscription Agreement](ex4-1.htm) |
| **6.1** | [Letter of Intent with CarbonEthic Holdings, Inc.](ex6-1.htm)  |
| **6.2** | [Terms of Service Agreement with Novation Solutions, Inc.](ex6-2.htm) |
| **6.3** | [Services Agreement with DealMaker Reach LLC](ex6-3.htm) |
| **11.1** | [Consent of Assurance Dimensions, LLC](ex11-1.htm) |
| **12.1** | [Legal Opinion of Ross Law Group, PLLC](ex12-1.htm) |

---

**SIGNATURES**

Pursuant to the requirements of Regulation A, the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form 1-A and has duly caused this offering statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of Greenwich, Connecticut, on February 2, 2023.

---

| | |
|:---|:---|
| **ETHICSTREAM INC.** | **ETHICSTREAM INC.** |
| By: | */s/ Joshua Soloway* |
| Name: | Joshua Soloway |
| Title: | CEO (Principal Executive Officer) |

---

Pursuant to the requirements of the Securities Act of 1933, this Form 1-A has been signed on February 2, 2023 by the following persons in the capacities indicated.

---

| | |
|:---|:---|
| */s/ Joshua Soloway* | */s/ Joshua Soloway* |
| Name: | Joshua Soloway |
| Title: | CEO and Director |
| */s/ Michael Brent Tolmie* | */s/ Michael Brent Tolmie* |
| Name: | Michael Brent Tolmie |
| Title: | Chairman and Director |
| */s/ Martin Prescott* | */s/ Martin Prescott* |
| Name: | Martin Prescott |
| Title: | Director |

---

## Add

**Exhibit 1.1**

**DEALMAKER SECURITIES LLC ORDER FORM** 

---

| | |
|:---|:---|
| Customer EthicStream Inc. | Contact: Joshua Soloway |
| Address: 500 West Putnam Ave., Suite 400<br> Greenwich, CT 06830 | Phone: 604-798-9533 |
| Commencement Date: 2022-11-10 | E-Mail: jsoloway@carbonethic.io |

---

By its signature below in the applicable section, Customer hereby engages and retains DealMaker Securities LLC, a registered Broker-Dealer, to provide the applicable services described in Exhibit A. Referenced within this Order Form are third party services provided by affiliates of DealMaker Securities LLC, subject to the Terms of Service applicable thereto (each such affiliates, a "**Company**").

Customer confirms that it understands the terms of this Order Form and the applicable Terms of Services, and by preceding with its order, agrees to be bound contractually with each respective Company. <u>The Applicable Terms of Service include and contain, among other things, warranty disclaimers, liability limitations and use limitations</u>.

There shall be no force or effect to any different terms other than as described or referenced herein (including all terms included or incorporated by reference) except as entered into by a Company and Customer in writing. This Agreement terminates the agreement entered into by and among DealMaker Securities LLC and CarbonEthic Holdings Inc. (the "Terminated Agreement"), and replaces the Terminated Agreement in its entirety.

---

| | |
|:---|:---|
| CUSTOMER | DEALMAKER SECURITIES LLC |
| */s/ jsoloway@carbonethic.io* | */s/ Mat Goldstein* |
| <br>Authorized Representative | <br>Authorized Representative |

---

**Schedule A**

**Regulation A+ Offering Fees**

Fees related to the Offering are set forth in the categories below and are denominated in USD. Total expenses for the offering, including fees payable to DealMaker Securities and its affiliates as well as fees payable to third parties may vary depending on the amount of capital raised, and are anticipated as follows:

---

| | | |
|:---|:---|:---|
| **Total Offering Amount** | **Expected Total Fees** <br> **(To DealMaker Securities, Affiliates and Third-Parties)** | **Maximum Compensation** |
| $5000000.00 | $588,850.00 (11.78%) | 9.25% |
| $10000000.00 | $852,700.00 (8.53%) | 8.0% |

---

To ensure adherence to fair compensation guidelines, DealMaker Securities will ensure that, in any scenario, the aggregate fees payable to DealMaker Securities and its affiliates (but excluding third-party expenses) shall never exceed the amounts set forth in the column entitled "Maximum Compensation".

If the Offering is fully subscribed, the maximum fees will be $800,000.

**DealMaker Securities LLC (and affiliate) Fees:**

&nbsp;&nbsp;&nbsp;&nbsp;**A.**  **<u>Advisory and Consulting Services Prior to Launch</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** $85,000
 Advance (an advance against accountable expenses anticipated to be incurred, and refunded to extent not actually incurred, reimbursable
 to the issuer regardless of the termination of the offering or the receipt of the No Objection Letter, in compliance with FINRA Rule
 5110(g)(4)).

Services may include:

Due Diligence Review

● Reviewing and performing due diligence on Issuer and Principals and consulting with Issuer regarding same

Consulting on Infrastructure for Self-Directed Electronic Road Show

● Consulting with Issuer on best business practices regarding raise in light of current market conditions and prior self-directed capital raises

● White-labeled platform customization to capture investor acquisition through the platform's analytic and communication tools

● Consulting with Issuer on question customization for investor questionnaire

● Consulting with Issuer on selection of webhosting services

● Consulting with Issuer on completing template for campaign page

● Advising Issuer on compliance of marketing material and other communications with the public with applicable legal standards and requirements

● Providing advice to Issuer on content of Form 1A and Revisions

● Advising Issuer on how to configure platform and link between prospective investors and the Issuer

● Assisting in the preparation of state, SEC and FINRA filings

● Working with the Client's SEC counsel in providing information to the extent necessary

Consulting on Marketing for Self-Directed Electronic Road Show

● Assign an experienced designer to assist the Issuer on messaging

● Providing expertise on pre-existing Issuer created assets

● Providing direction on the creation of additional Issuer assets

● Consulting with Issuer on the creation of assets for all paid media and email campaigns (i.e Google Ads, Advertising Partners, Social Platform advertising)

● Advising Issuer on website design and implementation

In the event that the Financial Industry Regulatory Authority ("**FINRA**") Department of Corporate Finance does not issue a no objection letter for the Offering, all DMS Fees are <u>fully refundable</u> other than services actually rendered in accordance with DMS standard hourly rates.

&nbsp;&nbsp;&nbsp;&nbsp;**B.**  **<u>Regulatory Corporate Filing Fees</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. $2,000 for reimbursement of actual out of pocket costs and expenses related to regulatory

Pass-through fee payable to DMS, from the Customer, who will then forward it to appropriate regulatory agencies in payment for the filing. These fees are due and payable prior to any submission by DMS to such agencies.

&nbsp;&nbsp;&nbsp;&nbsp;**C.**  **<u>Transaction Fees During the Offering:</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.**  **<u>Advisory, Compliance and Consulting Services During the Offering: 1% cash (calculated monthly)</u>** 

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

● If necessary, discussions with the issuer regarding additional information or clarification on an issuer-invited investor;

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

● Reviewing each investor's subscription agreement to confirm such investor's participation in the offering and provide a recommendation to the company whether or not to accept the subscription agreement for the investor's participation;

● Contacting and/or notifying the company, if needed, to gather additional information or clarification on an investor;

● Providing a dedicated account manager;

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

● Consulting with Issuer regarding any material changes to the Form 1A which may require an amended filing; and

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

Fees are calculated as follows:

● One hundred (100) basis points on the aggregate amount accepted in the Offering, calculated based on the amount accepted into the Offering during the immediately preceding month.

**<u>DealMaker Technology Fees:\*</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**A.**  **<u>Platform Hosting and Maintenance Fees:</u> $2,000 per month** 

Includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Full Analytics suite to track all aspects of the offering and manage the conversion of prospective investors into actual investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Seats for up to 10 users (including legal, compliance, broker-dealer and transfer agent)

Fees are payable at the beginning of each month

&nbsp;&nbsp;&nbsp;&nbsp;**B.**  **<u>Transaction Fees</u>** 

Includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a. General**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** $15 per electronic signature
 executed on DealMaker platform

**ii.** $15 per payment reconciled
 via DealMaker platform

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b. Payment Processing Fees**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** Secure Bank-to-Bank Payments
 (USD) - 2.00%

**ii.** Credit Card Processing -
 4.50%

**iii.** Express Wires - 1.00%

**iv.** Per Investor Refund Fee -
 $50.00

**v.** Failed Payment Fee - $5.00

**vi.** Reconciliation Report - $250

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c. AML Searches** (required for Reg A offerings)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** AML Search (individual) —
 $2.50

**ii.** AML Search (corporate) —
 $25.00

**\*DealMaker Technology is provided by Novation Solutions Inc. O/A DealMaker. Customer hereby agrees to the terms set forth in the DealMaker Terms of Service linked [<u>here</u>].**

---

| | |
|:---|:---|
| /s/ jsoloway@carbonethic.io | */s/ Rebecca Kacaba* |
| Authorized Representative (Customer)  | Authorized Representative (Novation Solutions Inc.)  |

---

**DealMaker Reach Fees (Marketing)\***

&nbsp;&nbsp;&nbsp;&nbsp;**A.**  **<u>Self-Hosted Electronic Road Show Marketing Advisory and Consulting Services</u>** 

**As per the Marketing Service Agreement, defined below, DealMaker Reach's efforts and terms of service include, but are not limited to:**

● Fixed Fees –

○ $12,000 per month during the engagement term (accrued and owing but payment may be deferred until Client receives first distribution from the Platform; thereafter, on a monthly basis),

○ Plus $6,000 per month during the engagement term (accrued and owing but payment may be deferred until six months past the date this agreement is signed for months one through six, and until 12 months past the date this agreement is signed for the months seven through 12.)

● Assisting the Issuer to implement conversion events and campaign tracking

● Consulting on landing page tests for conversion rate improvement

● Coordinate with Campaign Platform Provider to develop and optimize campaign page(s)

● Assisting the Issuer to integrate DealMaker webhooks to build investor funnel and tracking of investor progress/status

● Providing status reports on the individual campaign vehicles (e-mail, paid social, etc.)

● Ongoing monthly communication for updates, strategic planning, implementations, and execution of marketing budget.

**\*Marketing Services are provided by DealMaker Reach LLC. Customer hereby agrees to the terms set forth in the DealMaker Reach Terms of Service linked [<u>here</u>].**

---

| | |
|:---|:---|
| */s/ jsoloway@carbonethic.io* | */s/ Jonathan Stidd* |
| Authorized Representative (Customer)  | Authorized Representative (DealMaker Reach LLC)  |

---

Services DO NOT include providing any investment advice nor any investment recommendations to any investor.

Issuers may elect to levy an administrative fee for online purchasers in an amount to be determined by the issuer.

Exhibit A

DealMaker Securities Terms

**Broker-Dealer Agreement**

These terms and conditions create a binding agreement by and between the customer who has signed the Order Form ("**Client**"), and DealMaker Securities LLC, a FINRA-registered Broker-Dealer ("**DMS**")(the "**Agreement**"). DMS is a registered broker-dealer providing services in the equity and debt securities market, including offerings conducted via SEC approved exemptions such as Reg D 506(b), 506(c), Regulation A+, Reg CF and others.

Client is offering securities directly to the public in an offering exempt from registration under either Regulation A or Regulation CF (the "**Offering**"). Client recognizes the benefit of having DMS provide advisory and other services as described herein, on the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Appointment, Term, and Termination**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Client hereby engages and retains DMS to provide consulting, operations and compliance services at Client's discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. If Client elects to carry out a Regulation CF Offering, Client retains DMS to act as the Client's Intermediary for the Offering, as defined by 17 C.F.R. Part 227.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. The Agreement will remain in effect for a period of the earlier of: 1) twelve (12) months from the signing of the Order Form ("**Term**") and will renew automatically for successive renewal terms of sixty (60) days prior to the expiration of the current term or 2) the closing of the Offering. If Client defaults in performing the obligations under this Agreement, the Agreement may be terminated (i) upon sixty (60) days written notice if Clients fails to perform or observe any material term, covenant, or condition to be performed or observed by it under this Agreement and such failure continues to be unremedied, (ii) upon written notice if any material representation or warranty made by Client proves to be incorrect at any time in any material respect, (iii) upon written notice, in order to comply with a legal requirement, if compliance cannot be timely achieved using commercially reasonable efforts, after providing as much notice as practicable, or, (iv) without limiting the foregoing, at any time if, after the commencement of DMS's due diligence of the Client, DMS believes that is not advisable to proceed with the contemplated Offering. If Client or DMS commences a voluntary proceeding seeking liquidation, reorganization or other relief, or is adjudged bankrupt or insolvent or has entered against it a final and unappealable order for relief, under any bankruptcy, insolvency, or other similar law, or either party executes and delivers a general assignment for the benefit of its creditors, the Agreement may be terminated upon thirty (30) days' written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. The termination of this Agreement as described herein shall not exclude the availability of any other remedies. Any delay or failure by either party to exercise, in whole or in part, any right, power, remedy or privilege shall not be construed as a waiver or limitation to exercise, in whole or in part, such right, power, remedy or privilege.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. All terms of the Agreement, which should reasonably survive termination, shall survive, including, without limitation, confidentiality, limitations of liability and indemnities, arbitration and the obligation to pay Fees relating to Services provided prior to termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Services.** DMS will perform the services listed on the Order Form in connection with the Offering (the "**Services**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **Fees.** As payment for the Services, Client shall pay to DMS such fees as described in the Order Form. Client authorizes DMS to deduct any fees owing directly from the Client's bank account or third-party escrow account (if applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. Regulatory Compliance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Client and all its third-party providers shall at all times (i) comply with direct requests of DMS: (ii) maintain all required registrations and licenses, including foreign qualification, if necessary; and (iii) pay all related fees and expenses (including the FINRA Corporate Filing Fee) in each case that are necessary or appropriate to perform their respective obligations under this Agreement. Client shall comply with and adhere to all DMS policies and procedures which shall be provided to Client.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Client and DMS will have shared responsibility for the review of all documentation related to the Offering but the ultimate discretion about accepting an Investor will be the sole decision of the Client. Each Investor will be considered to be that of the Client's and NOT DMS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Client and DMS shall each supervise and train their respective employees, agents, representatives and independent contractors in the performance of functions allocated to them pursuant to the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. If either Client orDMS receives material communications (orally or in writing) from any Governmental Authority or Self-Regulatory Organization with respect to this Agreement or the performance of either party's obligations thereunder, the receiving party shall promptly provide said communications to the opposite party, unless such notification is expressly prohibited by the applicable Governmental Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **Role of DMS.** Client acknowledges and agrees that Client relies on Client's own judgement in engaging DMS Services. Client understands and agrees that DMS (i) is not assuming any responsibility for the Client''s underlying business decision to pursue any business strategy or effect any Offering; (ii) makes no representations with respect to the quality of any investment opportunity in connection with the Offering (iii) does not guarantee the performance to or of any Investor in the Offering, (iv) does not guarantee the performance of any third party which provides services to DMS or Client with respect to the Offering,) (v) will make commercially reasonable efforts to perform the Services pursuant to this Agreement (vi) is not an investment adviser, does not provide investment advice and does not recommend securities transactions and any display of data or other information about the Offering, does not constitute a recommendation as to the appropriateness, suitability, legality, validity, or profitability of any Offering, (vii) Services in connection with this Agreement should not be construed as creating a partnership, joint venture, or employer-employee relationship of any kind, (ix) Services in connection with this Agreement that require registration as a FINRA/SEC registered broker-dealer shall be performed exclusively by DMS or an associated person of DMS , (x) is not providing any accounting, legal or tax advice, and (xi) will use "commercially reasonably efforts" to perform Services pursuant to this Agreement but that this shall not give rise to any express or implied commitment by DMS to purchase or place any of the Client's securities. <u>Client explicitly acknowledges that DMS shall not and is under no duty to recommend Client's security and DMS is not selling Client's security to retail investors</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. <u>Indemnification by Client.</u> Client shall indemnify and hold DMS, its affiliates and their respective members, officers, directors and agents harmless from any and all actual or direct losses, liabilities, claims, demands, judgements, arbitrations awards, settlements, damages, and costs (collectively "**Losses**"), resulting from or arising out of any third party suits, actions, claims, demands, investigations or similar proceedings (collectively "**Claim**") to the extent they are based upon (i) a breach of this Agreement by Client, (ii) the wrongful acts or omissions of Client, or (iii) the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. <u>Indemnification by DMS.</u> DMS shall indemnify and hold Client, Client's affiliates and Client's representatives and agents harmless from any Losses resulting from or arising out of Proceedings to the extent they are based upon (i) a breach of this Agreement by DMS or (ii) the wrongful acts or omissions of DMS or its failure to comply with any applicable federal, state, or local laws, regulations, or codes in the performance of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. <u>Indemnification Procedure.</u> If any Proceeding is commenced against a party entitled to indemnification under this section, prompt notice of the Proceeding shall be given to the party obligated to provide such indemnification. The indemnifying party shall be entitled to take control of the defense, investigation or settlement of the Proceedings and the indemnified party agrees to reasonably cooperate, at the indemnifying party's cost in ensuing investigations, defense or settlement. The indemnifying party shall reimburse the indemnified party for all expenses (including reasonable fees, disbursements and other charges of counsel) as they are incurred in connection with investigating, preparing, pursuing, defending, or settling a Claim (including without limitation any shareholder or derivative action); provided, however, that indemnifying party will not be liable to indemnify and hold harmless or reimburse an indemnified party pursuant to this paragraph to the extent that an arbitrator (or panel of arbitrators) or court of competent jurisdiction will have determined by a final non-appealable judgment that such Claim resulted from the gross negligence or willful misconduct of such indemnified party. The indemnifying party will not settle, compromise or consent to the entry of a judgment in any pending or threatened Claim unless such settlement, compromise or consent includes a release of the indemnified parties satisfactory to the indemnified parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. <u>Indemnified Party Limitation Of Liability</u>. No indemnified party shall have any liability (whether direct or indirect, in contract, tort or otherwise) to the indemnifying party arising from or related to the Agreement or the Offering or any actions or inactions allegedly taken by the indemnified party in connection with the Agreement, except to the extent that an arbitrator (or panel of arbitrators) or a court of competent jurisdiction determines by a final non-appealable judgment that Losses resulted from the gross negligence or willful misconduct of such indemnified party. In no event shall the indemnified party be liable or obligated in any manner for any consequential, exemplary or punitive damages or lost profits incurred by the Client arising from or relating to the Agreement, an Offering, or any actions or inactions taken by an indemnified party in connection with the Agreement, and the Client agrees not to seek or claim any such damages under any circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. <u>Insufficient Funding For A Claim.</u> If the foregoing indemnification or reimbursement is judicially determined to be unavailable or insufficient to fully indemnify and hold harmless DMS as an indemnified party against a Claim, the Client will contribute to the amount paid or payable by an indemnified party as a result of such Claim in such proportion as is appropriate to reflect the relative financial benefits of the Offering to the Company, on the one hand, and the indemnified party, on the other hand; or if such allocation is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits but also the relative fault of the Client on the one hand and the indemnified party on the other hand with respect to such Claim as well as any other relevant equitable considerations. Notwithstanding the preceding paragraphs, in no event will the aggregate amount to be contributed by all indemnified parties towards all Claims and Client losses, exceed the actual fees received by DMS pursuant to the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Witness Reimbursement.</u> In the event that DMS or any of its employees, officers, directors, affiliates or agents are requested or required to appear as a witness or subpoenaed to produce documents in any action in which the Client or any of its affiliates is a party to and DMS is not, the Client will reimburse DMS for all expenses incurred by its employees, officers, directors, affiliates or agents in preparing for and appearing as a witness or producing documents, including the reasonable fees and disbursements of legal counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Notices.</u> Any notices required by the agreement shall be in writing and shall be addressed, and delivered via email at the email address included in the Order Form.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **Confidentiality and Mutual Non-Disclosure**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) <u>Included Information</u>. For purpose of this Agreement, the term "**Confidential Information**" means all non-public, confidential and/or proprietary information disclosed by one party to this Agreement ("**Disclosing Party**") to the other party ("**Receiving Party**"), including but not limited to (i) financial information, (ii) business and marketing plans, (iii) the names of employees and owners, (iv) the names and other personally identifiable information of customers (v) intellectual property, and (vi) all documentation provided by investors in the Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) <u>Excluded information.</u> For purposes of this Agreement, the term "Confidential nformation" shall not include (i) information already known to the Receiving Party prior to disclosure by the Disclosing Party, (ii) information independently developed by the Receiving Party without the use of any confidential and proprietary information, (iii) information known to the public through no wrongful act of the Receiving Party, (iv) information that becomes known to the Receiving Party from a third party not bound by a confidentiality obligation to the Disclosing Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) <u>Confidentiality Obligations.</u> During the Term and at all times thereafter, Receiving Party shall not disclose Confidential Information of the Disclosing Party or use such Confidential Information for any purpose without the prior written consent of Disclosing Party. Each party shall use at least the same degree of care in safeguarding the other party's Confidential Information as it uses to safeguard its own Confidential Information. Notwithstanding the forgoing, a Receiving Party may disclose Confidential Information (i) if required to do by order of a court of competent jurisdiction, provided that Receiving Oarty shall notify the Disclsoing Oarty in writing promptly upon receipt of knowledge of such order so that Receiving Party may attempt to prevent such disclosure or seek a protective order, or (ii) as required by applicable law. Nothing contained herein shall be construed to prohibit the SEC, FINRA, or other government entities from obtaining, reviewing, and auditing any information, records, or data of either party containing Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) <u>Disclosure and Retention Of Confidential Information.</u> DMS is hereby expressly permitted by Client to disclose Confidential Information to third parties involved in the Offering contemplated herein, provided that Client has been informed of such disclosure in advance and has approved such disclosure (either orally or in writing). DMS may retain one copy of the Client's Confidential Information to the extent necessary to comply with industry-specific document retention rules and other regulations, and in an archived computer backup system stored as a result of automated backup procedures for compliance purposes. Client acknowledges that regulatory record-keeping requirements, as well as securities industry best practices, require DMS to maintain copies of practically all data and communications, even after this Agreement is terminatedAgreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) <u>Logo Display.</u> The Parties agree that the display of a Party's name or logo on a website or in connection with any marketing materials shall not be considered a disclosure of Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **Miscellaneous**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. These terms are non-exclusive and shall not be construed to prevent either party from engaging in any other business activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. This Agreement shall be binding upon the parties hereto and their respective heirs, administrators, successors, and assigns. This Agreement may be modified or amended only by a written consent executed by the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Either party may assign this Agreement to any person or entity that acquires all or substantially all of its business or assets, in which case the other party's consent shall not be unreasonably withheld. This includes an assignment to a subsidiary that an entity party may create or to a company affiliated with or controlled directly or indirectly by an entity party .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. When Offering closes, Client agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) DMS, may prepare media materials of its choosing, at its own expense and in compliance with applicable regulations, describing DMS' Services in the Offering as described in this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Client issues a press release regarding the Offering, it shall include reference to DMS as the broker-dealer on the Offering.

With respect to the preparation of any other marketing or media materials either before or after Offering closes, Client and DMS will work together to authorize and approve in writing any additional co-branded notifications. press releases and/or Client facing communication materials regarding the representations in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. This Agreement shall be construed in accordance with the laws of the State of New York without regard to conflict of laws principles. The parties submit to the jurisdiction of and venue in the federal courts located in the state of New York with respect to any dispute related to this Agreement and any Offering contemplated herein and waive their right to a jury trial (whether such disputes are based on contract, tort or otherwise.) Notwithstanding the above, the parties agree that ANY DISPUTE, CONTROVERSY, CLAIM OR CAUSE OF ACTION BETWEEN THE CLIENT AND DMS DIRECTLY OR INDIRECTLY RELATING TO OR ARISING OUT OF THIS AGREEMENT, OR BREACH THEREOF required or allowed to be conducted by the Financial Industry Regulatory Authority's ("FINRA") rules (including the FINRA Code of Arbitration Procedure for Industry Disputes) shall be arbitrated in accordance with such rules. Any arbitration shall be before a neutral arbitrator or panel of arbitrators selected under the FINRA Neutral List Selection System (or any successor system) and in a forum designated by the Director of FINRA Dispute Resolution or any member of FINRA Staff to whom such Director has delegated authority. In general accordance with FINRA Rule 2268, by signing an arbitration agreement the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) This Agreement contains a pre-dispute arbitration clause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Except as otherwise provided in this Agreement, all parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Arbitration awards are generally final and binding; a party's ability to have a court reverse or modify an arbitration award is very limited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Any panel of arbitrators may include a minority of arbitrators who were or are affiliated with the securities industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) As provided in FINRA Rule 2268, no person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is decertified; or (iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. The language used in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will be applied against any party. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. If any provision, term or condition of this Agreement is invalid, void or unenforceable by a court of competent jurisdiction, or a regulatory or self-regulatory agency or body by order or judgment not subject to review, the remaining provisions, terms and conditions shall not be affected and shall remain in full force and effect, and this Agreement shall be carried out as if any such invalid, void or unenforceable provisions, terms or conditions were not included in the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. This Agreement, along with the Order Form and applicable schedule of DMS fees, contains the entire agreement between the parties and supersedes any prior and collateral agreements, communications, understandings and negotiations relating to the subject matter herein. The Agreement may not be modified or amended except by written agreement executed by both parties.

Pursuant to the requirements of Title III of Pub. L. 107-56 (the USA Patriot Act), as amended (the "**Patriot Act**") and other applicable laws, rules and regulations, DMS is required to obtain, verify and record information that identifies the Client which information includes the name and address of the Client and other information that that allows DMS to identify the Client in accordance with the Patriot Act

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**Exhibit 2.1**

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**Exhibit 2.2**

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**Exhibit 2.3**

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**Exhibit 4.1**

**FORM OF SUBSCRIPTION AGREEMENT**

**THIS INVESTMENT INVOLVES A HIGH DEGREE OF RISK.** THIS INVESTMENT IS SUITABLE ONLY FOR PERSONS THAT CAN BEAR THE ECONOMIC RISK FOR AN INDEFINITE PERIOD OF TIME AND THAT CAN AFFORD TO LOSE THEIR ENTIRE INVESTMENT. FURTHERMORE, INVESTORS MUST UNDERSTAND THAT THEIR INVESTMENT IS ILLIQUID AND IS EXPECTED TO CONTINUE TO BE ILLIQUID FOR AN INDEFINITE PERIOD OF TIME. NO PUBLIC MARKET EXISTS FOR THE SHARES (AS DEFINED BELOW), AND NO PUBLIC MARKET IS EXPECTED TO DEVELOP FOLLOWING THE OFFERING (AS DEFINED BELOW).

**THE SALE OF THE SHARES HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "SECURITIES ACT") OR ANY STATE SECURITIES OR BLUE SKY LAWS, AND THE SHARES ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND STATE SECURITIES OR BLUE SKY LAWS. ALTHOUGH A REGULATION A OFFERING STATEMENT HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (THE "SEC"), IT DOES NOT INCLUDE THE SAME INFORMATION THAT WOULD BE INCLUDED IN A REGISTRATION STATEMENT UNDER THE SECURITIES ACT. THE SHARES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SEC, ANY STATE SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON THE MERITS OF THE OFFERING OR THE ADEQUACY OR ACCURACY OF THIS SUBSCRIPTION AGREEMENT OR ANY OTHER MATERIALS OR INFORMATION MADE AVAILABLE TO SUBSCRIBER (AS DEFINED BELOW) IN CONNECTION WITH THE OFFERING OVER THE WEB-BASED PLATFORM MAINTAINED BY THE COMPANY (AS DEFINED BELOW). ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.**

**INVESTORS THAT ARE NOT "ACCREDITED INVESTORS" (AS THAT TERM IS DEFINED IN SECTION 501 OF REGULATION D PROMULGATED UNDER THE SECURITIES ACT) ARE SUBJECT TO LIMITATIONS ON THE AMOUNT THEY MAY INVEST, AS SET OUT IN SECTION 4.** THE COMPANY IS RELYING ON THE REPRESENTATIONS AND WARRANTIES SET FORTH BY SUBSCRIBER IN THIS SUBSCRIPTION AGREEMENT AND THE OTHER INFORMATION PROVIDED BY SUBSCRIBER IN CONNECTION WITH THE OFFERING TO DETERMINE THE APPLICABILITY TO THE OFFERING OF EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

**THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY.** THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY'S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS "ESTIMATE," "PROJECT," "BELIEVE," "ANTICIPATE," "INTEND," "EXPECT" AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT'S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

**THE COMPANY MAY NOT BE OFFERING THE SHARES IN EVERY STATE.** THE OFFERING MATERIALS DO NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE OR JURISDICTION IN WHICH THE SHARES ARE NOT BEING OFFERED.

**THE COMPANY RESERVES THE RIGHT IN ITS SOLE DISCRETION AND FOR ANY REASON WHATSOEVER TO MODIFY, AMEND AND/OR WITHDRAW ALL OR A PORTION OF THE OFFERING AND/OR ACCEPT OR REJECT IN WHOLE OR IN PART ANY PROSPECTIVE INVESTMENT IN THE SHARES OR TO ALLOT TO ANY PROSPECTIVE INVESTOR FEWER THAN THE NUMBER OF SHARES THE INVESTOR DESIRES TO PURCHASE.** EXCEPT AS OTHERWISE INDICATED, THE OFFERING MATERIALS SPEAK AS OF THEIR DATE. NEITHER THE DELIVERY NOR THE PURCHASE OF THE SHARES WILL, UNDER ANY CIRCUMSTANCES, CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE COMPANY SINCE THAT DATE.

TO: EthicStream Inc. <br> 1500 West Georgia, Suite 1500 <br> Vancouver, British Columbia, Canada, V6G 2Z6

Ladies and Gentlemen:

<u>1. Subscription</u>.

(a) The undersigned ("**Subscriber**") hereby irrevocably subscribes for and agrees to purchase, at a purchase price of $10.00 per share, shares (the "**Shares**") of Class A common stock, par value $0.0001 per share (the "**Common Stock**"), of EthicStream Inc., a Delaware corporation (the "**Company**"), upon the terms and conditions set forth herein. The minimum subscription is $500.00 (50 Shares).

(b) Subscriber understands that the Shares are being offered pursuant to an offering circular dated [_____], 202_ (the "**Offering Circular**") included in the offering statement of the Company filed with the SEC (the "**Offering Statement**"). By executing this Subscription Agreement, Subscriber acknowledges that he, she or it has received this Subscription Agreement, copies of the Offering Circular and Offering Statement, including exhibits thereto and any other information required by Subscriber to make an investment decision.

(c) Subscriber's subscription may be accepted or rejected in whole or in part, by the Company, in its sole discretion, at any time before a Closing Date (as defined below). In addition, the Company, in its sole discretion, may allocate to Subscriber only a portion of the number of Shares for which Subscriber has subscribed. The Company will notify Subscriber whether his, her or its subscription is accepted (whether in whole or in part) or rejected. If Subscriber's subscription is rejected, Subscriber's payment (or portion thereof, if partially rejected) will be returned to Subscriber without interest and all of Subscriber's obligations hereunder will terminate.

(d) The aggregate number of Shares sold will not exceed 1,000,000 Shares. The Company may accept subscriptions until the earliest of (i) the 180<sup>th</sup> day after the date as of which the SEC qualifies the Offering Statement (or such later day as the Company determines, if, in its sole discretion, it extends the offering of the Shares (the "**Offering**"), (ii) the date as of which all Shares offered by the Offering Circular have been sold and (iii) any such earlier time as the Company may determine in its sole discretion, regardless of the number of Shares sold and the amount of capital raised (the earliest of such dates, the "**Termination Date**"). The Company may elect at any time to close all or any portion of the Offering, on various dates at or before the Termination Date (each, a "**Closing Date**").

(e) In the event of rejection of this subscription in its entirety, or if the sale of the Shares (or any portion thereof) is not consummated for any reason, this Subscription Agreement will have no force or effect, except for this Section 1(e) and Section 5 hereof (and, to the extent relevant thereto, Sections 4 and 6), each of which will remain in force and effect.

<u>2. Purchase Procedure</u>.

(a) <u>Payment</u>. The purchase price for the Shares will be paid simultaneously with the execution and delivery to the Company of the signature page of this Subscription Agreement. Subscriber shall deliver a signed copy of this Subscription Agreement along with payment for the aggregate purchase price of the Shares by debit card, credit card, ACH electronic transfer, wire transfer, or check to an account designated by the Company, or by any combination of such methods.

(b) <u>Recordkeeping</u>. Subscriber will receive notice of the Shares owned by Subscriber, as reflected on the Company's books and records, which will bear a notation that the Shares were sold in reliance upon Regulation A.

<u>3. Representations and Warranties of the Company</u>.

The Company represents and warrants to Subscriber as follows:

(a) <u>Organization and Standing</u>. The Company is a corporation duly formed, validly existing and in good standing under the laws of the State of Delaware. The Company has all requisite power and authority to own and operate its properties and assets, to execute and deliver this Subscription Agreement and any other agreements or instruments required hereunder. The Company is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Company or its business.

(b) <u>Issuance of the Shares</u>. The issuance, sale and delivery of the Shares in accordance with this Subscription Agreement have been duly authorized by all necessary corporate action on the part of the Company. The Shares, when so issued, sold and delivered against payment therefor in accordance with the provisions of this Subscription Agreement, will be duly and validly issued, fully paid and non-assessable.

(c) <u>Authority</u>. The execution and delivery by the Company of this Subscription Agreement and the consummation of the transactions contemplated hereby (including the issuance, sale and delivery of the Shares) are within the Company's powers and have been duly authorized by all necessary corporate action on the part of the Company. Upon its execution, this Subscription Agreement will constitute a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors' rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies and (iii) with respect to provisions relating to indemnification and contribution, as limited by considerations of public policy and by federal or state securities laws.

(d) <u>No filings</u>. Assuming the accuracy of Subscriber's representations and warranties set forth in Section 4 hereof, no order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official is required by or with respect to the Company in connection with its execution, delivery and performance of this Subscription Agreement, except (i) for such filings as may be required under Regulation A or under any applicable state securities laws, (ii) for such other filings and approvals as have been made or obtained, or (iii) where the failure to obtain any such order, license, consent, authorization, approval or exemption or give any such notice or make any filing or registration would not have a material adverse effect on the ability of the Company to perform its obligations hereunder.

(e) <u>Capitalization</u>. Disclosure of the number of authorized and outstanding securities of the Company immediately before the initial investment in the Shares is as set forth under "Securities Being Offered" in the Offering Circular. Except as set forth in the Offering Circular, the Company has no outstanding options, warrants, rights (including conversion or preemptive rights and rights of first refusal), or agreements of any kind (oral or written) for the purchase or acquisition from the Company of any of its securities.

(f) <u>Financial statements</u>. Complete copies of the Company's financial statements (consisting of (i) the audited balance sheet of the Company as at [DATE], 2022 [and the related statements of income, stockholders' equity and cash flows for the period of [___ months] ending [DATE], 2022] (the "**Audited Statements**") and (ii) the unaudited balance sheet of the Company as at June 30, 2022 and the related statements of income, stockholders' equity and cash flows for the period of six months ending June 30, 2022) (the Audited Statements, together with the financial statements described in clause (ii) of this Section 3(f), the "**Financial Statements**") have been made available to Subscriber and appear in the Offering Circular. The Financial Statements are based on the books and records of the Company and fairly present in all material respects the financial condition of the Company as of the respective dates they were prepared and the results of the operations and cash flows of the Company for the periods indicated. [Assurance Dimensions, LLC], which has audited the Audited Statements, is an independent accounting firm within the rules and regulations adopted by the SEC.

(g) <u>Proceeds</u>. The Company shall use the proceeds from the issuance and sale of the Shares as set forth in "Use of Proceeds" in the Offering Circular.

(h) <u>Litigation</u>. Except as set forth in the Offering Circular, there is no pending action, suit, proceeding, arbitration, mediation, complaint, claim, charge or investigation before any court, arbitrator, mediator or governmental body, or to the Company's knowledge, currently threatened in writing (i) against the Company or (ii) against any consultant, officer, manager, director or key employee of the Company arising out of his or her consulting, employment or board relationship with the Company or that could otherwise materially impact the Company.

<u>4. Representations and Warranties of Subscriber</u>. By executing this Subscription Agreement, Subscriber (and, if Subscriber is purchasing the Shares subscribed for hereby in a fiduciary capacity, the person or persons for whom or for which Subscriber is so purchasing) represents and warrants to the Company as follows, in each case as of Subscriber's respective Closing Date(s):

(a) <u>Requisite Power and Authority</u>. Subscriber has all necessary power and authority under all applicable provisions of law to execute and deliver this Subscription Agreement and other agreements required hereunder and to carry out their provisions. All actions on Subscriber's part required for the lawful execution and delivery of this Subscription Agreement and other agreements required hereunder have been or will be effectively taken before Subscriber's Closing Date. Upon their execution and delivery, this Subscription Agreement and other agreements required hereunder will be valid and binding obligations of Subscriber, enforceable in accordance with their respective terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights and (b) as limited by general principles of equity that restrict the availability of equitable remedies.

(b) <u>Investment Representations</u>. Subscriber understands that the Shares have not been registered under the Securities Act and that the Shares are being offered and sold pursuant to an exemption from registration contained in the Securities Act and, in part, upon Subscriber's representations contained in this Subscription Agreement.

(c) <u>Illiquidity and Continued Economic Risk</u>. Subscriber acknowledges and agrees that there is no ready public market for the Shares and that there is no guarantee that a market for their resale will ever exist. Subscriber must bear the economic risk of this investment indefinitely, and the Company has no obligation to list the Shares on any market or take any steps (including registration under the Securities Act or the Securities Exchange Act of 1934) with respect to facilitating trading or resale of the Shares. Subscriber acknowledges that Subscriber is able to bear the economic risk of losing Subscriber's entire investment in the Shares. Subscriber also understands that an investment in the Company involves significant risks, and Subscriber has taken full cognizance of and understands all of the risk factors relating to the purchase of Shares.

(d) <u>Accredited Investor Status or Investment Limits</u>. Subscriber represents that:

EITHER (i) Subscriber is an "accredited investor" within the meaning of Rule 501 of Regulation D under the Securities Act (in which case Subscriber has truthfully indicated, on the signature page of this Subscription Agreement, the numbered paragraph(s) of Appendix A (attached hereto) corresponding to Subscriber's accredited investor status);

OR (ii) The purchase price set out in paragraph (b) of the signature page to this Subscription Agreement, together with any other amounts previously used to purchase Shares in the Offering, does not exceed (A) 10% of the greater of Subscriber's annual income or net worth (if Subscriber is a natural person) or (B) 10% of the greater of Subscriber's annual revenue or net assets at fiscal year end (if Subscriber is not a natural person).

(e) <u>Professional advice</u>. To the extent that Subscriber has any questions with respect to his, her or its status as an accredited investor, or as to the application of the investment limits, Subscriber has sought professional advice.

(f) <u>Stockholder information</u>. Within five days after receipt of a request from the Company, Subscriber hereby shall provide such information with respect to its status as a stockholder (or potential stockholder) and execute and deliver such documents as may reasonably be necessary to comply with any and all laws and regulations to which the Company is or may become subject. **Subscriber further agrees that in the event he, she or it transfers any Shares, Subscriber will require the transferee of such Shares to agree to provide such information to the Company as a condition of such transfer.**

(g) <u>Company Information</u>. Subscriber understands that the Company is subject to all the risks that apply to early-stage companies, whether or not those risks are explicitly set out in the Offering Circular. Subscriber has had such opportunity as he, she or it deems necessary (which opportunity may have presented through online chat or commentary functions) to discuss the Company's business, management and financial affairs with managers, officers and management of the Company and has had the opportunity to review the Company's operations and facilities. Subscriber has also had the opportunity to ask questions of and receive answers from the Company and its management regarding the terms and conditions of this investment. Subscriber acknowledges that except as set forth herein, no representations or warranties have been made to Subscriber, or to Subscriber's advisors or representative, by the Company or others with respect to the business or prospects of the Company or its financial condition.

(h) <u>Valuation</u>. Subscriber acknowledges that the price of the Shares was set by the Company on the basis of the Company's internal valuation and no warranties are made as to value. Subscriber further acknowledges that future offerings of Shares may be made at lower valuations, with the result that Subscriber's investment will bear a lower valuation.

(i) <u>Domicile</u>. Subscriber maintains Subscriber's domicile (and is not a transient or temporary resident) at the address shown on the signature page.

(j) <u>No Brokerage Fees</u>. There are no claims for brokerage commission, finders' fees or similar compensation in connection with the transactions contemplated by this Subscription Agreement or related documents based on any arrangement or agreement binding upon Subscriber.

(k) <u>Foreign Investors</u>. If Subscriber is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986), Subscriber hereby represents that he, she or it has satisfied himself, herself or itself, as the case may be, as to the full observance of the laws of Subscriber's jurisdiction in connection with any invitation to subscribe for the Shares or any use of this Subscription Agreement, including (i) the legal requirements within his, her or its jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale, or transfer of the Shares. Subscriber's subscription and payment for and continued beneficial ownership of the Shares will not violate any applicable securities or other laws of Subscriber's jurisdiction.

5. <u>Survival of Representations and Indemnity</u>. The representations, warranties and covenants made by Subscriber herein and the rights and agreements set forth in Section 6 will survive the Termination Date. Subscriber agrees to indemnify and hold harmless the Company and its respective officers, directors and affiliates, and each other person, if any, that controls the Company within the meaning of Section 15 of the Securities Act against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all reasonable attorneys' fees, including attorneys' fees on appeal) and expenses reasonably incurred in investigating, preparing or defending against any false representation or warranty or breach of failure by Subscriber to comply with any covenant or agreement made by Subscriber herein or in any other document furnished by Subscriber to any of the foregoing in connection with this transaction.

6. <u>Market Stand-off</u>. Subscriber shall not sell or otherwise transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale of, any Common Stock (or other securities of the Company) held by Subscriber during the one hundred eighty (180) day period following the effective date of a registration statement filed under the Securities Act (or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including the restrictions contained in NYSE Rule 472(f)(4) or any successor provisions or amendments thereto). The Company may impose stop-transfer instructions and may notate each such certificate, instrument or book entry with a legend indicating that the securities represented by such certificate, instrument or book entry are subject to the foregoing restriction until the end of such one hundred eighty (180) day (or other) period. Subscriber agrees to execute a market stand-off agreement with the underwriters in the related offering in customary form consistent with the provisions of this Section 6.

7. <u>Governing Law; Jurisdiction</u>. This Subscription Agreement will be governed by, and construed in accordance with, the laws of the State of Delaware.

EACH OF SUBSCRIBER AND THE COMPANY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION LOCATED WITHIN THE STATE OF DELAWARE AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS RELATING TO THIS SUBSCRIPTION AGREEMENT NOT ARISING UNDER THE FEDERAL SECURITIES LAWS MAY BE LITIGATED IN SUCH COURTS. EACH OF SUBSCRIBER AND THE COMPANY ACCEPTS FOR HIMSELF, HERSELF OR ITSELF, AS APPLICABLE, AND IN CONNECTION WITH SUBSCRIBER'S AND THE COMPANY'S RESPECTIVE PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS, AND IRREVOCABLY AGREES TO BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS SUBSCRIPTION AGREEMENT NOT ARISING UNDER THE FEDERAL SECURITIES LAWS. EACH OF SUBSCRIBER AND THE COMPANY FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN THE MANNER AND IN THE ADDRESS SPECIFIED IN SECTION 8 AND THE SIGNATURE PAGE OF THIS SUBSCRIPTION AGREEMENT.

8. <u>Notices</u>. Notice, requests, demands and other communications relating to this Subscription Agreement and the transactions contemplated herein are to be in writing and deemed duly given if and when (a) delivered personally, on the date of such delivery; (b) mailed by registered or certified mail, postage prepaid, return receipt requested, in the third day after the posting thereof; or (c) emailed, telecopied or cabled, on the date of such delivery to the address of the respective parties as follows:

---

| | |
|:---|:---|
| If to the Company, to: | with a required copy to: |
| EthicStream Inc. | Ross Law Group, PLLC |
| 1500 West Georgia, Suite 1500 | 1430 Broadway, Suite 1804 |
| Vancouver, British Columbia, Canada, V6G 2Z6 | New York, NY 10018 |

---

If to Subscriber, to Subscriber's address as shown on the signature page hereto or to such other address as may be specified by written notice from time to time by the party entitled to receive such notice. Any notices, requests, demands or other communications by telecopy or cable are to be confirmed by letter given in accordance with Section 8(a) or 8(b) above.

<u>9. Miscellaneous</u>.

(a) All pronouns and any variations thereof will be deemed to refer to the masculine, feminine, neuter, singular or plural, as the identity of the person or persons or entity or entities may require.

(b) This Subscription Agreement is not transferable or assignable by Subscriber.

(c) The representations, warranties and agreements contained herein will be deemed to be made by and be binding upon Subscriber and his, her or its heirs, executors, administrators and successors and will inure to the benefit of the Company and its successors and assigns. With respect to any representation or warranty made in this Subscription Agreement, (i) an individual shall be deemed to have "knowledge" of a particular fact or other matter if the individual is actually aware of that fact and (ii) the Company will be deemed to have "knowledge" of a particular fact or other matter if one of the Company's current officers has, or at any time had, actual knowledge of that fact or other matter.

(d) None of the provisions of this Subscription Agreement may be waived, changed or terminated orally or otherwise, except as specifically set forth herein or except by a writing signed by the Company and Subscriber.

(e) In the event any part of this Subscription Agreement is found to be void or unenforceable, the remaining provisions are intended to be separable and binding with the same effect as if the void or unenforceable part were never the subject of agreement.

(f) The invalidity, illegality or unenforceability of one or more of the provisions of this Subscription Agreement in any jurisdiction will not affect the validity, legality or enforceability of the remainder of this Subscription Agreement in such jurisdiction or the validity, legality or enforceability of this Subscription Agreement, including any such provision, in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder will be enforceable to the fullest extent permitted by law.

(g) This Subscription Agreement supersedes all prior discussions and agreements between the parties with respect to the subject matter hereof and contains the sole and entire agreement between the parties hereto with respect to the subject matter hereof.

(h) The terms and provisions of this Subscription Agreement are intended solely for the benefit of each party hereto and their respective successors and assigns, and it is not the intention of the parties to confer, and no provision hereof will confer, third-party beneficiary rights upon any other person.

(i) The headings used in this Subscription Agreement have been inserted for convenience of reference only and do not define or limit the provisions hereof.

(j) This Subscription Agreement may be executed in any number of counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

(k) If the Company effects any recapitalization or other transaction affecting its stock, any new, substituted or additional securities or other property which is distributed with respect to the Shares will be immediately subject to this Subscription Agreement, to the same extent that the Shares, immediately prior thereto, will have been covered by this Subscription Agreement.

(l) No failure or delay by any party in exercising any right, power or privilege under this Subscription Agreement will operate as a waiver thereof nor will any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided will be cumulative and not exclusive of any rights or remedies provided by law.

[SIGNATURE PAGE FOLLOWS]

**ETHICSTREAM INC.**

**SUBSCRIPTION AGREEMENT SIGNATURE PAGE**

Subscriber, desiring to purchase Shares of EthicStream Inc., hereby executes the Subscription Agreement to which this signature page is attached.

(a) If Subscriber is an accredited investor (as that term is defined in Regulation D under the Securities Act), because Subscriber meets the criteria set forth in one or more of the numbered paragraph(s) of Appendix A, then print the applicable paragraph number(s) from Appendix A: ______).

(b) Subscriber is paying an aggregate purchase price of $_________ for ______ Shares.

(c) The Shares being subscribed for will be owned by, and should be recorded on the Company's books as held in the name of:

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| |
|:---|
| (print name of owner or names of joint owners) |
| Signature of Subscriber |
| Name (please print) |
| Email address |
| Address |
| Telephone Number |
| Social Security Number/EIN |
| Date |
| If the Shares are to be purchased in joint names, both Subscribers must sign: |
| Signature of Subscriber |

---

---

| |
|:---|
| Name (please print) |
| Email address |
| Address |
| Telephone Number |
| Social Security Number/EIN |
| Date |

---

This subscription is accepted by the Company on __________________, 202_.

---

| |
|:---|
| **ETHICSTREAM INC.** |
| By: |
| Name: |
| Title: |

---

Subscription Agreement <br> Signature Page

**APPENDIX A**

An accredited investor includes the following categories of investor. Please initial next to the number or numbers below that describe Subscriber. Additional verification may be required:

(1) Subscriber is a natural person whose individual net worth (or combined net worth with Subscriber's spouse if Subscriber is married) as of the date hereof exceeds $1,000,000. Except as set forth below, in calculating a person's net worth, (i) a person's primary residence shall not be included as an asset; (ii) indebtedness that is secured by the person's primary residence, up to the estimated fair market value of the primary residence at the time of the sale of the Shares, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of the sale of the Shares exceeds the amount outstanding sixty (60) days before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and (iii) indebtedness that is secured by the person's primary residence in excess of the estimated fair market value of the primary residence at the time of the sale of the Shares shall be included as a liability.

(2) Subscriber is a natural person who had an individual "income" exceeding $200,000 during both of the two most recently completed calendar years (or a joint income with Subscriber's spouse in excess of $300,000 in each of those years) and who has a reasonable expectation of reaching the same income level in the current calendar year.

(3) Subscriber is a natural person who holds any of the following licenses from the Financial Industry Regulatory Authority (FINRA): a General Securities Representative license (Series 7), a Private Securities Offerings Representative license (Series 82), or a Licensed Investment Adviser Representative license (Series 65).

(4) Subscriber is a natural person who is a "knowledgeable employee" of the Company, if the Company were an "investment company" within the meaning of the Investment Company Act of 1940 (the "**ICA**") but for Section 33(c)(1) or Section 3(c)(7) of the ICA.

(5) Subscriber is a "business development company," as defined in Section 2(a)(48) of the ICA.

(6) Subscriber is an investment adviser registered under the Investment Advisers Act of 1940 (the "**Advisers Act**") or the laws of any state.

(7) Subscriber is an investment adviser described in section 203(l) (venture capital fund advisers) or section 203(m) (exempt reporting advisers) of the Advisers Act.\

(8) Subscriber is a trust with total assets in excess of $5,000,000 that was not formed for the specific purpose of acquiring the securities offered hereby, and the investment decisions for which are made by a sophisticated person capable of evaluating the merits and risks of the proposed investment.

(9) Subscriber is a revocable trust that may be amended or revoked at any time by the grantors thereof, and all of the grantors are accredited investors.

(10) Subscriber is a Small Business Investment Company licensed by the United States Small Business Administration under Section 301(c) or Section 301(d) of the Small Business Investment Act of 1958.

(11) Subscriber is a "private business development company" as defined in Section 202(a)(22) of the Advisers Act.

(12) Subscriber is a bank, insurance company, registered investment company, business development company, small business investment company, or rural business development company.

(13) Subscriber is a "family office," as defined in rule 202(a)(11)(G)-1 under the Advisers Act, if the family office (i) has assets under management in excess of $5,000,000, (ii) was not formed for the specific purpose of acquiring the securities offered, and (iii) is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment.

(14) Subscriber is a "family client," as defined in rule 202(a)(11)(G)-1 under the Advisers Act, of a family office meeting the requirements above, whose investment in the Company is directed by such family office.

(15) Subscriber is a corporation, a limited liability company, a Massachusetts or similar business trust, a partnership, or a non-profit organization of the type described in Internal Revenue Code section 501(c)(3), in each case not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000.

(16) Subscriber is an "employee benefit plan" (within the meaning of Title I of the Employee Retirement Income Security Act of 1974) and either (i) the decision to invest in the Company was made by a plan fiduciary that is a bank, savings and loan association, insurance company, or registered investment adviser; (ii) the plan has total assets exceeding $5,000,000; or (iii) if a self-directed plan, investment decisions are made solely by persons who, if executing this document, would qualify as an accredited investor under one or more of the numbered paragraphs above.

(17) Subscriber is a plan established and maintained by a State, its political subdivisions, or an agency or instrumentality of a State or its political subdivisions, for the benefit of its employees, and the plan has assets in excess of $5,000,000.

(18) Subscriber is an entity, including Indian tribes, governmental bodies, funds, and entities organized under the laws of foreign countries, that was not formed to invest in the securities offered and own investment assets in excess of $5 million.

(19) Subscriber is an entity. Each of Subscriber's equity investors, if executing this document, would qualify as an accredited investor under one or more of the numbered paragraphs above.

## Add

**Exhibit 6.1**

**<u>CONFIDENTIAL AND PRIVILEGED</u>**

February 1, 2023

*Via Electronic Mail Only*

 

Carbonethic Holdings, Inc.

1500 West Georgia, Suite 1300

Vancouver, BC V6G2Z6

Canada

Attention: Michael Brent Tolmie, CEO

**Re: Non-Binding Letter of Intent for the proposed acquisition of Carbon Credits**

Dear Mr. Soloway,

This Non-Binding Letter of Intent (this "**Letter**") is intended to summarize the principal terms on which Carbonethic Holdings Inc. (the "**Seller**") wishes to enter into negotiations with EthicStream Inc. (the "**Purchaser**") with respect to the purchase and sale of Carbon Credits (as defined below) to be generated from nature-based projects located in Canada by Seller or its Affiliates (as defined below) (the "**Project(s)**"). Upon the successful conclusion of such negotiations, the Parties intend to enter into a definitive agreement, the terms of which will outline the purchase, conveyance and marketing of Project Credits developed from the Projects (the "**Carbon Credit Purchase and Sale Agreement**" or the "**PSA**"). Purchaser and Seller are individually referred to herein, as a "**Party**" or collectively, as the "**Parties**".

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| | |
|:---|:---|
| **Parties & Concepts** | **Full description** |
| **Seller** | Carbonethic Holdings Inc. |
| **Purchaser** | EthicStream Inc. |
| **Project(s)** | KDI Project.<br>The Seller and the Purchaser may mutually agree, in writing, to add additional Projects. |
| **Carbon Credits** | "**Carbon Credits**" means all right, title and interest in, and benefits associated with, any and all voluntary or compliance-eligible carbon dioxide Emissions Reductions (ER) and any emission reduction, removal, allowance, credit, permit, offset, claim, characteristics, attribute, verified emission reduction, removal unit, howsoever entitled or designated, resulting from, attributable to or associated with the Project, which Carbon Credit shall be Verified (or otherwise confirmed as required by the Applicable Standard) and measured in units of one tonne of carbon dioxide equivalent using the global warming potentials stipulated by the Applicable Standard Body or the Intergovernmental Panel on Climate Change, as applicable and as may be evidenced by a serialized registration or certificate number; and shall include the reporting rights and benefits related to any such units including the right of a Person to report the ownership thereof in compliance with Applicable Law, if applicable, or otherwise to an international, federal or sub-national agency or any other Person, including under any present or future emissions trading program, a voluntary carbon market program, the UNFCCC, or the Paris Agreement, with a Vintage Year requirement as communicated by Climate Neutral (https://www.climateneutral.org) each year.<br>|

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| | |
|:---|:---|
|  | "**Governmental Authority(ies)**" means any domestic or foreign federal, provincial, regional, state, municipal or other government, governmental department, agency, authority or body (whether administrative, legislative, executive or otherwise), court, tribunal, commission or commissioner, bureau, minister or ministry, board or agency, or other regulatory authority, including any securities regulatory authorities or stock exchange.<br>"**Intergovernmental Panel on Climate Change**" is the United Nations body for assessing the science on climate change (IPCC — Intergovernmental Panel on Climate Change).<br>"**Paris Agreement**" means the Paris Agreement (December 13, 2015), made under the UNFCCC, Report of the Conference of the Parties (Addendum) Decision 1/CP.21, FCCC/CP/2015/10/Add.1 (January 29, 2016).<br> "**Person**" means and includes individuals, corporations, bodies corporate, limited or general partnerships, joint stock companies, limited liability companies, joint ventures, associations, companies, trusts, banks, trust companies, Governmental Authorities or any other type of organization or entity, whether or not a legal entity.<br>**"Registry"** means the body organized for the reporting, registration, and transfer of Carbon Credits.<br>"**United Nations Framework Convention on Climate Change**" or "**UNFCCC**" means the United Nations Framework Convention on Climate Change, May 9, 1992, S. Treaty Doc No. 102–38 (1992), 1771 U.N.T.S. 107.<br> "**Verification**" and "**Verified**" means a periodic independent review and after-the-fact determination by a verifier that the GHG Reductions have occurred during a specified period and otherwise meet the requirements of the Applicable Standard.<br> "**Verra**" means Verra, a nonprofit corporation registered under the laws of the District of Columbia (Washington, DC), and any successor thereto reasonably acceptable to the Parties.<br>"**Vintage Year**" means the month and calendar year or other calendar period specified by the Parties, as applicable, in which the GHG Reduction occurred.<br>|
| **Project Credits** | Carbon Credits generated by the Project ("**Project Credits**").<br>|
|  | As the Project Credits will be generated from a number of different Projects in the Project, the Seller does not provide any warranty that each and every Project Credit is of similar value or nature. |
| **Term** | The term of the PSA shall commence on the Execution Date and shall terminate on the tenth (10<sup>th</sup>) anniversary of the first Delivery of Project Credits with mutual agreement to renewals of five (5) years terms ("**Renewal Terms**") for (2) two additional Renewal Terms.<br>"**Execution Date**" is the date on which the PSA is signed by both Parties. |
| **USD** | Any and all amounts owing and paid under the PSA shall be in United States Dollars. |

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| | |
|:---|:---|
| **Transaction** | **Full description** |
| **Transaction** | "**Transaction**" means a transaction for the purchase and sale of Carbon Credits between the Parties evidenced by an Order Confirmation Form (as such form shall be agreed by the Parties in the PSA). |
| **Unit Price** | The Purchaser shall pay the Seller the Net Realized Price per Project Credit.<br>"**Margin**" means thirty percent (30%) of the Realized Price.<br>"**Marketing Fee**" means half of a percent (0.5%) of the Realized Price.<br>"**Net Realized Price**" means an amount equal to the proceeds (cash only) realised by the Purchaser upon the sale of a Project Credit less the Marketing Fee less Margin and less any third-party broker or commission charges incurred and paid by the Purchaser directly related to the sale of the Project Credit.<br>"**Realized Price**" is actual price received by the Purchaser from a Third-Party Buyer (as defined below) of the Project Credit.<br>Where EthicStream retires any of the Project Credits on its own behalf, the Net Realized Price for such retired Project Credits should be calculated as the Average Price. "**Average Price**" means the average Realized Price for all Project Credits during the previous three (3) month period. If no sales of Project Credits have closed during such previous three (3) month period, the "**Average Price**" shall be calculated using the average offers that two independent North America brokers provide upon request. |
| **Volume** | Ten percent (10%) of Project Credits (the "**Volume**"). |
| **Prepayment** | The Purchaser shall prepay the Seller an amount calculated as the product of USD $[XX] per Project Credit, [XX] percent ([XX]%), and [XX],000,000 (which is the projected Volume) ("**Prepayment**") within one hundred and twenty (120) days of the Execution Date. |
| **Delivery Obligation** | The Seller is required to Deliver the Volume of Project Credits arising from the Project.<br>"**Delivery**" means the transfer Carbon Credits to the Purchaser in accordance with the requirements of the Applicable Standard Body in accordance with the operating rules of the Registry. Title to the Project Credits will pass to the Purchaser upon Delivery. |
| **Exclusivity** | The Purchaser will have the exclusive right to market and sell the Volume for the Term of the PSA.<br>There are no restrictions on the size of trades, counterparties, minimum prices or the use of any electronic trading platform.<br>None of the Project Credits may be tokenized by the Purchaser. |

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| | |
|:---|:---|
| **Delivery Structure** | Upon issuance, the Seller shall hold all the Project Credits in its account(s) in the relevant Registries.<br>The Seller will sell the Volume of Project Credits and deliver such Volume of Project Credits to the account of the Purchaser for the Purchaser to market, sell and Deliver the Volume of Project Credits to the account of the Carbon Credit buyer or retailer ("**Third-Party Buyer**"). |
| **True Up** | Upon receipt of payment by the Purchaser from the Third-Party Buyer, Purchaser and the Seller shall reconcile the Prepayment with the Net Realized Price.<br>Any positive difference between the Net Realized Price and Prepayment shall be paid by the Purchaser to the Seller within thirty (30) days.<br>Any negative difference between the Net Realized Price and Prepayment shall reduce the Prepayment amount. |
| **Sales Period** | The Purchaser must sell the Project Credits to a Third-Party Buyer within one-hundred twenty (120) days of receipt of such Project Credits (the "**Sale Period**"). Any Project Credits which have not been sold to a Third-Party Buyer during the Sale Period will be resold to the Seller at a the Prepayment price, with all costs associated therewith borne by the Purchaser.<br>Any such returned Project Credits will continue to be allocated towards the Seller's Volume commitment. |
| **No Volume Guarantee** | The Seller makes no guarantee, commitment, warranty or other forecast with respect to the number of Project Credits that may be generated by the Project. |
| **Sales and Marketing Agreement** | The Parties will develop a joint Sales and Marketing Agreement for the sale of the Project Credits to Third Party Buyers. |
| **Cancellation of a Transaction** | Either Party may cancel a Transaction should either Party determine that the other Party has engaged in illegal activities, corrupt practices, terrorist activities or is in material breach of its obligations under the PSA. |
| **Tax Considerations** | The Parties will negotiate in good faith with each other to structure the Transaction in a Tax efficient manner which does not adversely affect any of the Parties.<br>"**Taxes**" means all taxes, surtaxes, duties, royalties, levies, imposts, tariffs, fees, assessments, reassessments, withholdings, dues, contributions and other charges and impositions of any nature, whether disputed or not, imposed, levied or charged by or on behalf of a Governmental Authority, and instalments in respect thereof, including such amounts imposed or collected on the basis of: income; profit; revenue; capital; real or personal property; payments; Deliveries or transfers of property or payments of any kind to residents or non-residents; purchases; consumption; sales; use; ad valorem; value added; stamp; gross receipts; licenses; environment; import, export of goods and services; distributions; registration of documents; occupation; labor; or equity; together with penalties, fines, additions to tax and interest thereon; and "Tax" shall have a corresponding meaning. |

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| | |
|:---|:---|
| **Seller's Covenants** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Seller shall implement the Projects and:<br>|

---

(a) Provide
 all necessary qualitative information to establish the conditions for a baseline GHG assessment for the Project;

(b) Comply
 with all requirements to create Carbon Credits from the Project;

(c) Register
 and validate the Project; and

(d) Any
 other covenants reasonable and customary in a PSA, including but not limited to the maintenance of appropriate insurance coverage for
 the Project.

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| | |
|:---|:---|
| **Purchaser's Covenants** | The Purchaser agrees, on an arms length basis, to use its best efforts to maximise the Net Realized Price of the Volume of Project Credits in accordance with the terms of the PSA.<br>|

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| | |
|:---|:---|
| **Customary Terms** | **Full description** |
| **Additional Volume** | The Seller and the Purchaser may agree to buy and sell additional volume of Carbon Credits generated from any other Projects developed by the Seller. |
| **Program Reports** | The Seller agrees to keep the Purchaser up to date (upon request, no more frequently than quarterly) of the status of the generation and issuance of Project Credits. |

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| | |
|:---|:---|
| **Seller's Events of Default and Purchaser Remedies** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following shall constitute Seller's Events of Default:<br>|

---

(a) Failure
 to meet its payment obligations under the PSA within 10 Business Days after notice from the Purchaser of such default;

(b) The
 Seller makes any representation or and warranty which is, in any material respect (or in any respect in the case of Representations
 and Warranties that are qualified by materiality), incorrect or incomplete and there isa failure to cure such breach within 20 Business
 Days after notice from the Purchaser of such default;

(c) The
 Seller is in breach or default of any terms or conditions, or any of its covenants or obligations, set forth in the PSA, which breach
 or default is not remedied within a period of 20 Business Days after the earlier of (i) delivery by the Purchaser to the Seller of
 written notice of such breach or default, and (ii) the Seller becoming aware of such breach; and

(d) Insolvency
 Event of the Seller.

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| |
|:---|
| If a default has occurred and is continuing, the Purchaser may seek all remedies at law or in equity. |
| Once the default is otherwise cured or waived, the Seller shall be deemed to have cured the default arising from such default. |
| "**Business Day**" means a day on which Federal Reserve member banks are open for business. |

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| | |
|:---|:---|
|  | "**Insolvency Event**" means, in respect of any Person, any one or more of the following events or circumstances whereby such Person (i) becomes insolvent or generally does not or becomes unable to pay its debts or meet its liabilities as the same become due; (ii) admits in writing its inability to pay its debts generally or declares any general moratorium on its indebtedness or proposes a compromise or arrangement between it and any class of its creditors or makes a general assignment for the benefit of creditors; (iii) institutes or has instituted against it any proceeding seeking (x) to adjudicate it a bankrupt or insolvent, (y) liquidation, dissolution, winding-up, administration, reorganization, compromise, arrangement, adjustment, protection, moratorium, relief, stay of proceedings of creditors generally (or any class of creditors), or composition of it or its debts or any other relief under any Insolvency Law, or (z) the entry of an order for relief or the appointment of or the taking of possession by, a receiver, receiver-manager, administrator, custodian, monitor, trustee or other similar official for the Person or any substantial part of its respective property and, in the case of any such proceeding instituted against it (but not instituted by it) either such petition, application or proceeding continues undismissed, or unstayed and in effect, for a period of forty-five (45) days after the institution thereof, such Person fails to diligently and actively oppose such proceeding, or any of the actions sought in such proceeding (including the entry of an order for relief against it or the appointment of a receiver, receiver-manager, administrator, custodian, monitor, trustee or other similar official for it or for any substantial part of its properties and assets) occurs, or such Person files an answer admitting the material allegations of a petition or motion filed against it in any such proceeding; or (iv) takes any action, corporate or otherwise, to approve, effect, consent to or authorize any of the actions described in the foregoing paragraphs (i) through (iii) or otherwise acts in furtherance thereof or fails to act in a timely and appropriate manner in defense thereof. |
|  | "**Insolvency Law**" means any bankruptcy, insolvency, reorganization, liquidation, administration, conservatorship, assignment for the benefit of creditors, moratorium, rearrangement, arrangement, winding up, receivership or other debtor relief law of the Province of British Columbia, or other applicable jurisdiction from time to time in effect and affecting the rights of creditors generally including any proceeding under applicable corporate law seeking a compromise or arrangement of any debts of the corporation, or a stay of proceedings to enforce any of the claims of the corporation's creditors. |
| **Purchaser's Events of Default and Seller Remedies** | The following shall constitute Purchaser's Events of Default: |

---

(a) the
 Purchaser fails to pay the Prepayment or any portion of the Net Realized Price to the Seller when due;

(b) the
 Purchaser is in breach or default of any terms or conditions, or any of its covenants or obligations, set forth in the PSA, which breach
 or default is not remedied within a period of 20 Business Days after the earlier of (i) delivery by the Seller to the Purchaser of
 written notice of such breach or default, and (ii) the Purchaser becoming aware of such breach; or

(c) the
 Purchaser makes any representation or warranty which is, in any material respect (or in any respect in the case of representations
 and warranties that are qualified by materiality), incorrect or incomplete and there is a failure to cure such breach within 20 Business
 Days after notice from the Seller of such default.

If a default has occurred and is continuing, the Seller may seek all remedies at law or in equity.

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| | |
|:---|:---|
| **Representations and Warranties** | Upon execution of the PSA, each Party shall make the Representations and Warranties similar to those that are customary in a Carbon Credit PSA, which shall be true as of the date of execution of the PSA and each Delivery and payment. |

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| | |
|:---|:---|
| **General Conditions** | **Full description** |
| **Governing Laws** | This Letter and the PSA shall be governed by and construed under the laws of the Province of British Columbia and the federal laws of Canada applicable therein (without regard to its laws relating to any conflicts of laws), and each Party irrevocably attorns and submits to the exclusive jurisdiction of the courts of the Province of British Columbia. The United Nations Vienna Convention on Contracts for the International Sale of Goods shall not apply to the PSA. |
| **Confidentiality** | Except to the extent required by law or as otherwise agreed by the Parties in writing, the Parties will keep confidential all business sensitive or proprietary information of the other furnished by that Party, the commercial details of all preliminary discussions and negotiations, and this Letter. Notwithstanding the preceding, neither Party is precluded from sharing information to Verification bodies, its investors, employees or advisors provided such persons are under a coextensive duty of confidentiality.<br>This provision shall survive termination of this Letter for a period of two (2) years. |
| **Indemnity** | The Parties agree to jointly and severally indemnify and save the other Party, its Affiliates and their respective directors, officers, employees and agents (the "**Indemnified Persons**") harmless from and against any and all losses suffered or incurred by any of them as a result of, in respect of, or arising as a consequence of: |

---

(a) any
 breach or inaccuracy of any representation or warranty of the PSA;

(b) any
 breach, including breach due to non-performance, or breach of any covenant or agreement to be performed under the PSA; or

(c) the
 failure of a Party to comply with any Applicable Law, provided that the foregoing shall not apply to any losses to the extent they
 arise primarily from the gross negligence, willful misconduct, fraud, or material breach of the PSA by the Indemnified Person.

---

| |
|:---|
| "**Affiliate**" means, with respect to any Person, any other Person which directly or indirectly, through one or more intermediaries, Controls, or is Controlled by, or is under common Control with, such Person. |
| "**Control" means**, in respect of a particular Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, the composition of the board of directors or managers of such Person, by contract or otherwise. Also, "**Controlled**" and "**Controls**". |

---

---

| | |
|:---|:---|
| **Consequential Damages** | Neither Party shall be liable to the other Party for any incidental, indirect, special, exemplary, punitive, or consequential damages, anticipated or lost profits loss of time, or other similar losses of any kind incurred by the other Party in connection with such Party's performance or non-performance under the PSA, |
| **Expenses** | The Parties shall bear their own respective expenses in connection with all matters regarding the Transaction (whether or not consummated), including the execution of this Letter and the PSA. |
| **Mutuality** | The Parties agree to cooperate with each other, and provide all assistance as reasonably requested, including the provision and collection of information, and attending any meetings, which a Party reasonably requires in connection with the preparation of all documents, and the seeking of any consents and other approvals, required in connection with the PSA. |

---

**This Letter is for discussion purposes only and represents an outline of the proposed principal commercial terms of the PSA, but is not legally binding, with the exception of the confidentiality obligation set out herein, and creates no legal obligations to proceed with the Transaction or enter into any definitive agreement in respect thereof, including the PSA. The terms set out in this Letter should not be considered exhaustive and the PSA will include standard terms and conditions for a transaction of this nature.** 

This Letter may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one agreement. A signed copy of this Letter delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Letter. The headings of the various Paragraphs of this Letter have been inserted for reference only and shall not be deemed to be a part of this Letter.

[Signature Pages to Follow]

If you are in agreement with the terms set forth above (including the Parties being legally bound <u>only</u> by the <u>General Conditions</u> of this Letter) and desire to proceed with the PSA on that basis, please sign this Letter in the space provided below and return an executed copy to Purchaser.

---

| | |
|:---|:---|
| **<u>PURCHASER</u>:** | **<u>PURCHASER</u>:** |
| EthicStream Inc. | EthicStream Inc. |
| By: | /s/ |
| Name: | Joshua Soloway |
| Title: | Chief Executive Officer |

---

*Signature Page* <br> *Letter of Intent – CarbonEthic & EthicStream*

---

| | |
|:---|:---|
| **<u>AGREED TO AND ACCEPTED</u>**: | **<u>AGREED TO AND ACCEPTED</u>**: |
| **SELLER:** | **SELLER:** |
| Carbonethic Holdings Inc. | Carbonethic Holdings Inc. |
| By: | /s/ |
| Name: | Michael Brent Tolmie |
| Title: | Chief Executive Officer |

---

*Signature Page* <br> *Letter of Intent – CarbonEthic & EthicStream*

## Add

**Exhibit 6.2**

![](ex6-2_001.jpg)

DEALMAKER.TECH TERMS AND CONDITIONS

These terms and conditions are part of the agreement between you, as Customer, and DealMaker, as vendor (also referred to as the "Company") (each a "party"), and apply to your use of one or many (as the case may be) online portal(s) created via <u>http://dealmaker.tech</u>, and any services related thereto ("**DealMaker Services**"). These Terms have legal implications. It is important that you read these terms carefully, and consult legal counsel if you determine that is appropriate, in order to understand this agreement. This agreement incorporates the Order Form from which this page was linked, the DealMaker Terms of Service applicable to use of the DealMaker Services available online at www.dealmaker.tech/terms and contains, among other things, warranty disclaimers, liability limitations and use limitations ("**Agreement**"). This Agreement also contains an arbitration provision which is enforceable against the parties and may impact your rights and obligations. By signing the Order Form and using the DealMaker Services, you accept and agree to be bound by these terms.

**1)** **Payment & Billing**

Unless otherwise specified in the schedules to your Order, Customer will be billed for fees incurred on a monthly basis. Payment will be automatically debited from the Customer's bank account or credit card on file, with a receipt to be automatically delivered. Invoices will be available for the customer to review upon request. In the event that any Customer payment fails, in respect of any invoice due and payable to DealMaker or any affiliate thereof ("**Arrears**"), Customer must re–connect their bank account or update credit card within fourteen (14) days and submit payment for any Arrears. Unless Arrears are cleared and accounts are brought back into good standing within 14 days, automated payouts and reconciliation reporting will be disabled. In the event the Arrears are not cleared or accounts are not brought back into good standing within 30 days, all services will be paused until payment is received and the Customer's bank account or credit card authorization is restored. DealMaker reserves the right to debit from Customer's payment account in respect of any Arrears aged beyond thirty days.

**2)** **Term & Termination**

<u>Term and Renewal</u>. Subscription terms are as specified in your Order ("**Term**"). Unless otherwise specified in your Order, your Monthly Subscription Fee and subsequently, DMEngage Fee, will automatically renew each month. DM Engage can be canceled within any month upon written notice, effective the month following cancellation except for those Customers using DealMaker Transfer Agent LLC services (**"TA Customers**"). TA Customers may cancel DM Engage pursuant to the terms established in the Order Form entered into between Customer and DealMaker Transfer Agent LLC.

<u>Early Cancellation</u>. You may choose to cancel your subscription early at your convenience provided that, we will not provide any refunds of prepaid fees or unused Subscription Fees, and you will promptly pay all unpaid fees due through the end of the Subscription Term, or ninety (90) days, whichever is less.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

<u>Termination for Cause</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Either
 party may terminate this Agreement immediately for cause, as to any or all Subscription Services.

"**Cause**" includes a determination that a party is acting, or have acted, in a way that has or may negatively reflect on or impact the other party, its prospects, or its customers, including without limitation in a way that violates or causes a violation of applicable law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Otherwise,
 the Agreement may be terminated

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. <u>Material Breach:</u> A party may terminate this Agreement upon fifteen (15) days' written notice to the other party of a material breach if such breach remains uncured at the expiration of such period, at which time the other party may terminate this Agreement forthwith and may immediately exercise any one or more of the remedies available to it under the terms of this Agreement, in addition to any remedy available at law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. <u>Right of Termination – Insolvency/Bankruptcy</u>: A party may terminate this Agreement immediately, if the other party becomes the subject of a petition in bankruptcy or any other proceeding relating to insolvency, cessation of business, liquidation or assignment for the benefit of creditors. In the event of Company insolvency, all of the Customer's assets are immediately released.

This Agreement may not otherwise be terminated prior to the end of the Subscription Term.

**3)** **Confidential Information**

A. "**Confidential Information**" means any and all confidential or proprietary information of Company
 or Customer, including affiliates thereof, which has been exchanged, or may be exchanged,
 between the Parties at any time prior to and during the Agreement Term, including, without
 limitation, business and marketing information, technology, know-how, ideas, reports, techniques,
 methods, processes, uses, composites, skills, and configurations of any kind. Without limiting
 the generality of the foregoing, Company's Confidential Information includes: (i) the
 DealMaker™ cloud-based software program developed by Company ()"**Software** "),
 including its features, functionality, performance, application and use; (ii) the computer
 code underlying the Software, including source and compiled code and all associated documentation
 and files; (iii) information relating to the performance or quality of the Software and Services;
 (iv) the details of any technical assistance provided to Customer during the Agreement Term;
 (v) any other products or service made available to Customer by Company during the Agreement
 Term; and (vi) information regarding Company's business operations including its research
 and development activities. All work product, pricing, Agreement terms and process information
 of either party exchanged with the other party to perform the terms of the Agreement is agreed
 to be Confidential Information, except any logos or marketing references are not Confidential
 Information.

B. "**Confidential Information**" does not include information that: (i) is or has become generally
 known to the public; (ii) was known by either party prior to entering into the Agreement;r
 (iii) was independently determined by either party; or (iv) was disclosed to the relevant
 party without restriction by a third party who, to the best of such party's knowledge
 and belief, had no obligation not to disclose such information.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

C. Neither
 party may disclose Confidential Information without the express written consent of the other
 party, except as specifically contemplated in this Agreement.

D. By
 executing this Agreement, the Customer is providing written consent for DealMaker to disclose
 Confidential Information as required to carry out the terms of this Agreement. Customer's
 investors will be required to sign-in to the DealMaker portal and agree to the DealMaker
 terms and conditions. The parties agree that this process shall not constitute a disclosure
 of "Confidential Information" as described in this section.

E. Notwithstanding
 anything in this section, Customer and DealMaker hereby agree that each party may use the
 other party's logo for promotional purposes ()"**Logo Use** "). The parties
 acknowledge that Logo Use does not include the use of any descriptive copy, all of which
 must be approved by Customer and DealMaker in writing. Except as provided for in this paragraph,
 nothing contained in this Agreement will be construed as granting Customer or DealMaker any
 right, title or interest in or to any or to use any of the other party's Confidential
 Information. Customer or DealMaker may terminate Logo Use at any time, without cause, upon
 written notice to the other party.

F. <u>Authorized Disclosure.</u> Each party may, without the consent of the other party, disclose Confidential
 Information to the extent reasonably necessary to comply with applicable government regulations,
 to support any application or filing with any governmental or regulatory authority, or to
 support the filing of any patent application. Each party may disclose the existence of this
 Agreement, its terms, and any relationship between the parties.

**4)** **DealMaker Template Library and Forms**

Customer may request access to DealMaker's documents and resources to help organize and set up the offering. These resources may include educational packages, resources for the management of administrative and collaborative tasks, and best practices observed from other offerings and industries. Customer acknowledges and agrees that, by providing access to any documents, training, or resources, DealMaker is not rendering and shall not be deemed to have rendered any legal, tax, investment, or financial planning advice. Customer shall, as it deems necessary or advisable, consult its own legal, tax, investment, or financial planning advisers.

**5)** **Customized Support and Training**

Customer may request additional support and training for team members and third party service providers, up to 4 unique sessions.

**6)** **Third-Party Payment Processing**

For the processing of electronic payments (including bank-to-bank payments, credit card, etc.), the Company may submit material(s) and or application(s) to partner third-party payment processors on behalf of the Customer. Upon approval, the Company will enable the partner processors' intake form/system within the Customer's subscription portal.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

Customer acknowledges that Company makes no guarantee Customer will be approved by any third party, and approval is subject to each third party's sole discretion, including, to the extent applicable, its due diligence and compliance policies and procedures. Use of payment processing service(s) is further contingent on the mutual acceptance by Company and Customer of each third party's respective fees, to be included as an addendum to this agreement and/or presented to Customer for acceptance from time to time (including fees for merchant processing account and ongoing maintenance, which may be applied on a per-issuer basis). Note holdback periods may apply for electronic payment transfer methods, as enforced by processors. Company shall not be deemed responsible for delivery or any interruption or cessation of any services provided by any third party.

All transactions must clear prior to being made available to Customer. US Federal regulations provide investors with 60 days to recall funds. Customer remains liable to immediately and without protestation or delay return any funds recalled by investors for whatever reason.

Company reserves the right to deny, suspend or terminate participation of any investor in the offering to the extent Company, in its sole discretion, deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with laws, rules, regulations, best practices, or the protection of its reputation.

**7)** **Integration with Third Party Service Providers**

Customer may request introductions to DealMaker's network of partner and vendors for the purpose of sourcing additional services (call center, transfer agent, marketing support, investment relations). Unless otherwise specified in writing, all engagements with third parties in this respect are to be made directly between the Customer and the vendor at the Customer's discretion. Customer acknowledges and agrees that, by making such introductions, Company is not recommending and shall not be deemed to have recommended any partner or vendor's products or services or to have assumed any responsibility for Customer's selection of any partner or vendor or procurement of such products or services.

Without limiting any other protection of Company under this agreement and notwithstanding anything to the contrary, DealMaker shall bear no responsibility or liability whatsoever in connection with any third party services provided by a vendor engaged by Customer, the decision to engage such vendors rests solely with the management of the Customer on the terms contracted between the Customer and such parties.

**8)** **Escrow**

Notwithstanding anything to the contrary contained herein, Customer acknowledges that if Customer opens a third-party escrow account (either by Customer's choice or as necessary to comply with applicable laws or regulations) in connection with the DealMaker Services, Customer will applying for escrow account with a DealMaker-selected Escrow Provider.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

**9)** **Background Checks: AML compliance and "clearing"**

DealMaker's integrated AML searches are tools provided to Customer to assist Customer (or one of its agents) in complying with applicable obligations related to KYC/AML. Company is not engaged to perform and will not perform, and shall not be deemed responsible for performing, any services related to reviewing or analyzing search results, sources of funds or wealth, or making any determination as to whether Customer has complied with its obligations under applicable anti-money laundering legislation and regulations or as to whether any prospective investor poses any risk of money laundering, terrorist financing, or other criminal or suspicious activity. Customer and/or its agents (including counsel or broker dealer as applicable) shall bear primary responsibility to determine compliance with applicable AML legislation and regulation and shall assist in the clearing of any AML exceptions. Customer's KYC/AML clearing obligations may require Customer to undertake efforts to ensure that individual and corporate investors provide applicable identity verification, explanations of adverse regulatory/disciplinary/bankruptcy history or media reports, confirmation of false positive results, or other documents or information required for AML purposes. DealMaker's AML searches are limited by capabilities and design of products and services of the third parties Dealmaker engages to perform such searches, including by limitations on the search methodology, matching logic, data sources, and information accuracy used by such third parties.

**10)** **Bad Actor Checks**

Customer agrees to provide Company with documentation verifying completion of bad actor checks in compliance with all applicable regulations ("**Bad Actor Checks**"). Customer shall provide Company with a copy of Customer's Bad Actor Checks within thirty (30) days of the Commencement Date of this Agreement, failing which, Company shall notify Customer in writing that it shall take steps to complete Customer's Bad Actor Checks at Customer's sole expense.

**11)** **Additional Services: Regulation D, 506(c) Accredited Investor Verification**

Customer may engage either Company or a third party (each a "**Reviewer**") to assist Customer in complying with applicable obligations related to accredited investor verification pursuant to Regulation D, 506(c) of the Securities Act. If Reviewer is Company, Company shall review investor submissions and uploaded documentation on the DealMaker portal and make a determination as to whether Customer has complied with its obligations to verify accredited investors (as defined by Rule 501 of Regulation D of the Securities Act) ("**DM Verification**"). If Reviewer is a third party, Company will not perform, and shall not be deemed responsible for performing, any services related to reviewing or analyzing search results, sources of funds or wealth, or making any determination as to whether Customer has complied with its obligations to verify accredited investors (as defined by Rule 501 of Regulation D of the Securities Act).

Company does not make and hereby disclaims any warranty, expressed or implied with respect to the information provided through DM Verification. Company does not guarantee or warrant the correctness, merchantability, or fitness for a particular purpose of the information provided through DM Verification. Customer acknowledges that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. DM
 Verification shall not include accreditation verification of non-U.S. investors ()"**foreign accredited investors**") who may be subject to foreign accreditation verification
 requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. DM
 Verification is conducted using a variety of third party database searches, public record
 services and user submissions. Company cannot represent or warrant that the data provided
 will be 100% accurate, complete or up to date. The data is time sensitive and Company provides
 the information as is. Public records may be incomplete, out of date or have errors and that
 Company

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The
 results of a DM Verification search for any type of personal verification should be interpreted
 cautiously. Criminal and civil record search results may not provide a complete or accurate
 representation of a person's criminal background or civil judgment history. Records
 are available for the majority, but not all, of states and counties. Records can be incomplete,
 contain inaccuracies or false matches.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Company
 is not a consumer reporting agency as defined in the Fair Credit Reporting Act ()"**FCRA** "),
 and the information in DealMaker's databases has not been collected in whole or in
 part for the purpose of furnishing consumer reports, as defined in the FCRA. CUSTOMER SHALL
 NOT USE DM VERIFICATION SERVICES AS A FACTOR IN (1) ESTABLISHING AN INDIVIDUAL'S ELIGIBILITY
 FOR PERSONAL CREDIT OR INSURANCE OR ASSESSING RISKS ASSOCIATED WITH EXISTING CONSUMER CREDIT
 OBLIGATIONS, (2) EVALUATING AN INDIVIDUAL FOR EMPLOYMENT, PROMOTION, REASSIGNMENT OR RETENTION,
 OR (3) ANY OTHER PERSONAL BUSINESS TRANSACTION WITH ANOTHER INDIVIDUAL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Customer
 assumes all risks arising from its use or disclosure of DM Verification information Company
 provides to Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. Notwithstanding
 anything in the DealMaker Terms of Service, Customer agrees that it shall indemnify, defend
 and hold harmless Company, its officers, directors, employees and agents, and the entities
 that have contributed information to or provided services for DM Verification against any
 and all direct or indirect losses, claims, demands, expenses (including attorneys'
 fees and cost) or liabilities of whatever nature or kind arising out of Customer's
 use of the information provided by DM Verification and Customer's use or distribution
 of any information obtained therefrom.

THE DM VERIFICATION SERVICES AND INFORMATION ARE PROVIDED "AS-IS" AND "AS AVAILABLE" AND NEITHER COMPANY NOR ANY OF ITS DATA SUPPLIERS REPRESENTS OR WARRANTS THAT THE INFORMATION IS CURRENT, COMPLETE OR ACCURATE. DEALMAKER HEREBY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE PERFORMANCE OF THE WEBSITE OR OUR SERVICES, AND THE ACCURACY, CURRENCY, OR COMPLETENESS OF THE INFORMATION, INCLUDING (WITHOUT LIMITATION) ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Customer acknowledges that these disclaimers are an integral part of this Agreement and that Company would not provide DM Verification services if Customer did not agree to these disclaimers.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

**12)** **Payment Processing Terms**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. **Indemnification.** Customer agrees to indemnify Company and hold Company harmless from any and all Losses
 incurred by Company in connection with its role as platform account for payment processing.
 "**Losses**" includes, but is not limited to, losses arising from chargebacks,
 clawbacks, payment reversals, fraudulent charges, insufficient credit, unauthorized charges,
 claims of Customer or third parties, and any other problems relating to card or ACH payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. **Pre-Closing Hold.** Customer agrees that investment funds deposited in Customer's account with
 a financial institution ()"**Account**") by (i) investors directly, funding
 via wire or cheque or (ii) by DealMaker or any third party payment processor, prior to the
 Closing of any transaction involving such investments (each, a "**Transaction** ")
 shall remain in Customer's Account and shall not be withdrawn by Customer, or a person
 authorized by Customer, from the Customer's Account prior to the Closing. "**Closing** "
 includes the resolution of all applicable AML-related exceptions or discrepancies identified
 through any searches provided by third parties through Company or otherwise identified by
 or to Company for all Transactions associated with an investment and the acceptance by the
 Company of the investment associated with such Transactions. Customer grants Company the
 right, prior to any Closing, in Company's sole discretion and without prior notice,
 to deduct funds from Customer's Account via Pre-Authorized Debit in respect of any
 funds that have been deposited in Customer's Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. **Holdbacks.** The Customer hereby acknowledges that certain terms apply in respect of electronic or
 credit card payment to cover against charge-backs and/or rescission. Chargeback windows can
 vary in duration and amount. For this reason, a holdback is applied to all funds processed
 online. Company shall have the right, in its sole discretion, to revise the amount and duration
 of any holdback. Ordinarily, the holdback is 5.00% of payments processed, for a ninety day
 period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. **Post-Closing Retention**. After the Closing Date, Customer agrees to retain in Customer's Account
 twenty percent (20%) of the funds processed online in respect of each Transaction for a period
 of ninety (90) days following the Closing Date (the "**Retention Period** ")
 to mitigate the risk of any Losses. Company shall notify Customer prior to amending the Retention.
 Customer acknowledges that chargeback windows applied by credit card processors are beyond
 Company's control. The parties hereby agree to work together collaboratively and in
 good faith in order to oppose or reduce any chargebacks.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. **Loss Recovery.** Upon giving Customer prior written notice of no less than three business days,
 Company shall have the right, in its sole discretion, to deduct funds from Customer's
 Account to reimburse Company for any Losses. Customer acknowledges and agrees that recovery
 of Losses from Customer's Account will not serve as any limitation on the indemnification
 obligations of Customer under this Agreement or any remedy or claim that Company may be entitled
 to pursue against Customer in respect of such Losses.

**13)** **SOFTWARE "AS IS"**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Exclusion of Warranty.</u> Except as expressly stated in this Agreement, Company makes no representations
 or warranties or covenants to Customer, either express or implied, with respect to the Software,
 DealMaker Services or with respect to any Confidential Information (as defined herein) disclosed
 to Customer. Company specifically disclaims any implied warranty or condition of non-infringement,
 merchantable quality or fitness for a particular purpose. Customer acknowledges that the
 Software is in continuous development and that it has been advised by Company to undertake
 its own due diligence with respect to all matters arising from this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>No Improvements.</u> Company is under no obligation to provide Improvements to the Software
 during the Term. "**Improvements**" means any improvements, updates, variations,
 modifications, alterations, additions, error corrections, enhancements, functional changes
 or other changes to the Software, including, without limitation: (i) improvements or upgrades
 to improve software efficiency and maintainability; (ii) improvements or upgrades to improve
 operational integrity and efficiency; (iii) changes or modifications to correct errors; and
 (iv) additional licensed computer programs to otherwise update the Software.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Any Improvements Gratuitous</u>. Any Improvements provided by Company to Customer from time to
 time during the Term shall be, unless otherwise stated, construed as being provided on a
 purely gratuitous basis and shall not give rise to any right or entitlement on the part of
 Customer, except as otherwise specifically provided in this Agreement. Any Improvements so
 provided shall be governed by the same terms and conditions applicable to the Software, as
 described herein, unless otherwise outlined in a fee schedule or addendum to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. <u>No Future Entitlement.</u> Nothing in this Agreement shall be construed as creating any obligation
 on Company to continue to develop, commercialize, offer, make available or support (i) the
 Software; or (ii) any feature, functionality or Improvement as may be encompassed in the
 Software from time to time during the Term, beyond the duration of the Term.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

**14)** **RIGHTS IN THE SOFTWARE**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Title.</u> Company retains title to and sole ownership of the Software and all Improvements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.** <u>Intellectual Property.</u> All Intellectual Property, Intellectual Property Rights and distribution rights
 associated with or arising from the Software or Company's Confidential Information
 remain exclusively with Company. "**Intellectual Property**" includes, without
 limitation, with respect to all DealMaker Products: all technical data, designs, specifications,
 software, data, drawings, plans, reports, patterns, models, prototypes, demonstration units,
 practices, inventions, methods and related technology, processes or other information, and
 all rights therein, including, without limitation, patents, copyrights, industrial designs,
 trade-marks and any registrations or applications for the same and all other rights of intellectual
 property therein, including any rights that arise from the above items being treated by the
 Parties as trade secrets (the rights being "**Intellectual Property Rights.")** 

**15)** **ANALYTICS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. <u>Data and Analytics.</u> Company reserves the right to collect data relating to Customer's
 usage of the Software during the Term. Without limiting the generality of the foregoing,
 Company may collect information relating to: (i) Software use (including the number of users,
 duration of usage sessions, and number of transactions initiated or completed using the Software);
 (ii) error information (including error messages and any feedback text submitted via any
 in-application feedback form); (iii) performance data (including software run time); (iv)
 user experience information (including time spent on each page of the user interface); and
 (v) license status information (including confirmation of license activation status). Customer
 shall have the right to access and use data relating to its usage of the Software for its
 own purposes, as available through the online dashboard or other reports provided by Company

**16)** **GENERAL**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Publications</u>.
 Each party acknowledges that its name, logo(s) and a description of the general nature of
 this Agreement may be used in any press release, public announcement or public communication
 during and following the Term. Without limiting the generality of the foregoing, Company
 may publish such information on its websites and in its promotional materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>No Books And Records Obligations</u>. Any and all obligations of Customer related to the storage
 of books and records remains the sole obligation of Customer. Company expressly disclaims
 any and all responsibility with respect to any regulatory or industry requirements with respect
 to the Customer's obligations related to record keeping and maintenance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Survival.</u> These terms shall continue in effect until the expiration or termination of the Agreement,
 whichever is earlier. The provisions of these Terms of Service which should by their nature
 survive expiration or termination of this Agreement shall so survive.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. <u>Currency</u>.
 All currencies referred to herein are in US dollars.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. <u>Amendment and Waiver</u>. Amendments to this Agreement, including any schedule or attachment hereto,
 shall be enforceable only if in writing and signed by authorized representatives of both
 Parties. No waiver of any breach of any terms or provisions of this Agreement is effective
 or binding unless made in writing and signed by the authorized representative of each of
 the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. <u>Assignment:</u> No party may assign this Agreement or any of its rights or obligations hereunder without the prior written consent of the other
 party, such consent not to be unreasonably withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. <u>Inurement.</u> This Agreement inures to the benefit of and is binding on each of the Parties and their respective successors and assignees, heirs
 and legal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. <u>Entire Agreement:</u> This Agreement including all schedules hereto, constitutes the entire agreement
 between the Parties concerning the subject matter hereof and supersedes all prior or collateral
 agreements, communications, representations, understandings, negotiations and discussions,
 oral or written.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. <u>Headings:</u> Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this
 Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J. <u>Number and Gender</u>. Words importing the singular mean the plural and vice versa. Words in the
 masculine gender include the feminine gender and vice versa.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;K. <u>Severability</u>.
 If any term, covenant, condition or provision of this Agreement is held by a court of competent
 jurisdiction to be invalid, void or unenforceable, it is the Parties' intent that such
 provision be reduced in scope by the court only to the extent deemed necessary by that court
 to render the provision reasonable and enforceable and the remainder of the provisions of
 this Agreement will in no way be affected, impaired or invalidated as a result.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L. <u>No Agency.</u> No provision of this Agreement or action by either or both of the Parties will
 establish or be deemed to establish any partnership, joint venture, principal-agent or employer-employee
 relationship in any way, or for any purpose, between Company and Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;M. <u>Notices.</u> Any notice required to be given pursuant to this Agreement shall be in writing and delivered
 by electronic mail, addressed to the appropriate party. Any notice given is deemed to have
 been received on the date on which it was delivered if a business day, failing which, on
 the next business day.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

**ENTERPRISE CUSTOMER TERMS**

**If you are an Enterprise Customer, the following additional terms also apply to you:**

**1.** **Definitions** 

"**Enterprise Customer**" means a Customer that has entered into a long term arrangement with Company to License Company's Software pursuant to the terms set out in Enterprise Customer's DealMaker Order Form.

"**License**" means the Company's grant to Enterprise Customer of a non-exclusive, non-transferable license for use of the Software by an unlimited number of individual users. Company will designate a DealMaker Enterprise Account to Enterprise Customers with a License.

**"Intended Purpose"** means Customer's use of the License to raise capital online via technology or services provided by DealMaker.tech. Intended Purpose includes usage by issuers invited by Customer to use Customer's Enterprise Account for the above-described purpose.

"**Offerings**" refers to online capital formation transactions completed by Company's Customers or Customer's clients, using the Software.

**Software,** as defined herein, includes any related printed, electronic and online documentation, manuals, training aids, user guides, system administration documentation and any other files that may accompany the Software licensed by Enterprise Customer.

**2.** **License Usage** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Cloud-Based Software.</u> The Software is cloud based. As such, the source and object code are located
 on servers outside of the Customer's premises. Customer shall have no access to the
 facilities at which the Software is hosted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Restrictions On License Use.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Customer
may not: (i) modify, enhance, reverse-engineer, decompile, disassemble or create derivative forms of the Software; (ii) copy the Software;
(iii) sell, sub-license, lease, transmit, distribute or otherwise transfer rights in/to the Software; (iv) allow third-party use of the
Software installed at the Site; or (v) pledge, hypothecate, alienate or otherwise encumber the Software to any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Use
 of the Software is restricted to the Intended Purpose only.

![](ex6-3_008.jpg)

**3.** **SLA** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. It
 is expressly understood and agreed that the Company shall determine its capacity to offer
 consulting services, only to such extent and at such times and places as may be mutually
 convenient to the parties. Company shall be free to provide similar services to such other
 business enterprises or activities as the Company may deem fit without any limitation or
 restriction whatsoever.

**4.** **Limitation and Exclusion of Liability** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Limitation and Exclusion of Liability.</u> In no event is Company's liability for any damages
 on any basis, in contract, tort or otherwise, of any kind and nature whatsoever, arising
 in respect of this Agreement, howsoever caused, including damages of any kind and nature
 caused by Company's negligence or by a breach of contract or any other breach of duty
 whatsoever, to exceed the fees actually paid to Company by Customer during Term. Customer
 acknowledges that Company has set its fees under this Agreement in reliance on the limitations
 and exclusions of liability set forth in this Agreement and such reliance forms an essential
 basis of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Indemnification.</u> Subject to any applicable negligent acts or omissions of Company, Customer agrees to indemnify, defend and hold Company and any of
 its current or former officers, directors, employees, subsidiaries, affiliates or agents harmless from any and all costs, demands,
 damages, losses, fees, expenses and liabilities (including attorneys' fees and costs) ()"**Losses**") incurred
 by Company in connection with the acts or omissions of Customer, including but not limited to any third parties demands, regulatory
 investigations, causes of action, losses, damages, liabilities, costs, fines and expenses (including reasonable attorney's
 fees) ()"**Claims**") resulting from Customer's usage of the Software, whether or not such activities are in
 accordance with the Intended Usage.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

**5.** **Managers and Officers.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Nothing
 in this Agreement shall be construed to relieve the managers or officers of Customer from
 the performance of their respective duties or limit the exercise of their powers in accordance
 with the Customer's bylaws, operating and constituent documents, written supervisory
 procedures, applicable law or otherwise. The activities of Customer shall at all times be
 subject to the control and direction of their respective directors, managers and officers.
 The Customer reserves the right to make all decisions with regard to any matter upon which
 Company has rendered its Services. The parties expressly acknowledge and agree that the Company
 is being engaged by Customer to provide Services to Customer pursuant to the terms of this
 Agreement. The Company shall not, and shall have no authority to, control Customer or Customer's
 day-to-day operations, whether through the performance of the Company's duties hereunder
 or otherwise. The Customer's directors, managers, officers and employees shall retain
 all responsibility for Customer, and its operations as and to the extent required by Customers
 bylaws, operating and constituent documents, and applicable law. In furtherance and not in
 limitation of the above, and notwithstanding any other provision of this Agreement or of
 any other agreement, understanding or document that purports to have any contrary effect
 or meaning, the Company shall not control, or have the right to control, directly or indirectly,
 the wages, hours, or terms and conditions of employment of the Customer.

**6.** **Miscellaneous** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Governing Law.</u> This Agreement is made in New York governed by and construed in accordance with
 the laws of the state of New York and the federal laws applicable therein. The Parties attorn
 to the exclusive jurisdiction of the Courts of the State of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Arbitration.</u> Any claim or dispute arising under this Agreement may only be brought in arbitration,
 with venue in New York, NY. If with Company, then such action will be pursuant to the rules
 of the American Arbitration Association. Customer and Company each consent to this method
 of dispute resolution, as well as jurisdiction, and consent to this being a convenient forum
 for any such claim or dispute and waives any right it may have to object to either the method
 or jurisdiction for such claim or dispute. In the event of any dispute among the parties,
 the prevailing party shall be entitled to recover damages plus reasonable costs and attorney's
 fees and the decision of the arbitrator shall be final, binding and enforceable in any court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Notwithstanding
 anything hereunder and/or whatever provided by the applicable laws, regulations and/or arbitration
 rules, both parties expressly agree and confirm to exclude any confidentiality obligations
 on either party during and/or in relation to the arbitration proceedings mentioned hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. EACH
 PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LITIGATION, ACTION,
 PROCEEDING, CROSS-CLAIM, OR COUNTERCLAIM IN ANY COURT (WHETHER BASED ON CONTRACT, TORT, OR
 OTHERWISE) ARISING OUT OF, RELATING TO OR IN CONNECTION WITH (I) THIS AGREEMENT OR THE VALIDITY,
 PERFORMANCE, INTERPRETATION, COLLECTION OR ENFORCEMENT HEREOF OR (II) THE ACTIONS OF THE
 PARTIES IN THE NEGOTIATION, AUTHORIZATION, EXECUTION, DELIVERY, ADMINISTRATION, PERFORMANCE
 OR ENFORCEMENT HEREOF.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

**LICENSED INTERMEDIARY TERMS**

**If you are a licensed Intermediary (as defined below), the following terms apply to you:**

**A.** **Books and Records** 

<u>Books and Records</u>. Any and all obligations of Customer related to the storage of books and records including but not limited to, obligations in accordance with Sections 17(a)(1), 17(a)(3) and 17(a)(4) of the Securities Exchange Act of 1934 ("**Exchange Act**" or "SEA") remain the sole obligation of Customer and its clients. Company expressly disclaims any and all responsibility with respect to any regulatory or industry requirements with respect to the Customer and its clients' obligations related to record keeping and maintenance.

**B.** **Regulation CF Offerings** 

**<u>i. Obligations of the Customer (acting as an Intermediary):</u>**

Where Customer using the Software has been engaged by its client to (i) act as a Broker-Dealer and a licensed Intermediary pursuant to Regulation CF, 17 C.F.R. Part 227 (the "**Regulation CF**"), or (ii) act as a registered Funding Portal and licensed Intermediary pursuant to Regulation CF, in a transaction involving the offer or sale of securities in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)), Customer shall comply with the requirements of Regulation CF. For greater certainty, this includes the requirements that Customer shall:

1. Register
 with the Securities and Exchange Commission ()"**Commission**") as either (i)
 a broker or (ii) a Funding Portal under section 15(b) of the Exchange Act (15 U.S.C. 78o(b)),
 pursuant to Regulation CF, §227.400;

2. If
 registering with the Commission as a Funding Portal, refrain from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Offering
 investment advice or recommendations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Soliciting
 purchases, sales or offers to buy the securities displayed on its platform;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Compensate
 employees, agents, or other persons for such solicitation or based on the sale of securities
 displayed or referenced on the DealMaker platform; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Hold,
 manage, possess, or otherwise handle investor funds or securities. (Regulation CF, §227.300(2)(c))

3. Verify
 that no director, officer or partner of Customer, or any person occupying a similar status
 or performing a similar function has a prohibited "financial interest in an issuer"
 as the term is defined in Regulation CF, §227.300(b);

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

4. Have
 a reasonable basis for believing that Customer's client seeking to initiate an offering
 of securities under the Regulation has a reasonable basis for keeping accurate records of
 security holders and is not disqualified to offer securities pursuant to Regulation CF, §227.301(c);

5. Make
 available to SEC and to the public, the disclosure required by Regulation CF, §227.201
 and §227.303;

6. Provide
 educational materials to all investors, pursuant to Regulation CF, §227.301(b);

7. Verify
 that Customer's clients are not disqualified from offering securities pursuant to Regulation
 CF, §227.100(b);

8. Only
 accept an Investor into an offering after (1) the Investor opens an account with Customer,
 (2) the Investor consents to electronic delivery and the review of the educational materials
 regarding the offering and (3) Customer has a reasonable basis to believe that the Investor
 meets the investment limitations in Regulation CF pursuant to Regulation CF, §227.302
 and §227.303.;

9. Provide
 communication channels by which Investors who have opened accounts can communicate with one
 another and with representatives of the Customer about offerings made available through the
 Customer or its clients, pursuant to Regulation CF, §227.303(c); and

10. Provide
 Investors the opportunity to reconsider their investment decision and to cancel their investment
 commitment until 48 hours prior to the new offering deadline, pursuant to Regulation CF §227.304

11. Provide
 Investors with notice of material changes as described in Regulation CF, §227.304 ()"**Notice** "),
 including but not limited to notice that the investor's investment commitment will
 be canceled unless the investor reconfirms his or her investment commitment within five business
 days of receipt of the Notice.

12. If
 registering with the Commission as a Funding Portal, comply with the Conditional Safe Harbor
 provisions in Regulation CF, §227.402; and

13. If
 registering with the Commission as a Funding Portal, implement written policies and procedures
 reasonably designed to achieve compliance with federal securities laws and the rules and
 regulations thereunder, relating to its business as a Funding Portal, as required by Regulation
 CF, §227.402(a).

**("Regulation CF Requirements")**

For greater certainty, the parties acknowledge that Company shall bear no responsibility for or liability whatsoever in connection with the Regulation CF Requirements and Customer shall be solely responsible for ensuring that Customer and its clients comply with Regulation CF.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

<u>Further Assurances.</u> When Customer or its clients use the Software for an offering in reliance on Regulation CF, Customer shall verify that:

1. The
 issuer has filed a Form C Offering Statement with the SEC, as described in Regulation CF,
 §227.203(a), prior to making an offering to the public pursuant to Regulation CF;

2. Issuer
 complies with marketing and advertising requirements of Regulation CF, §227.204;

3. Provider
 is notified of any investor who, having received Customer's Notice pursuant to Regulation
 CF §227.304, opts-out of their investment and whose investment must therefore be refunded;

4. Signed
 and funded subscription agreements, executed by investors who have cleared AML/KYC, are reviewed
 by the Customer prior to countersignature;

5. The
 aggregate amount of all securities sold to all Investors by the Issuer in a single offering
 during a 12 month period shall not exceed $5,000,000; and

6. Non-accredited
 Investors (as defined by Rule 501, CFR §230.301) investing in the offering pursuant
 to Regulation CF do not exceed the maximum investment permitted in a 12 month period per
 Regulation CF, §227.100.

<u>Payments To Escrow.</u> Customer acknowledges that it shall direct all payments from Investors in respect of a Regulation CF offering to Issuer's escrow account ("**Escrow Account**"). Customer is responsible for (1) applying for escrow account with a DealMaker-selected Escrow Provider; (2) configuring instructions on the DealMaker platform to ensure that all payments are directed to the appropriate Escrow Account; (3) using the DealMaker.tech application to manage closings pursuant to the DealMaker user guide and (4) coordinating with the escrow company managing the Escrow Account to disburse funds upon request from the issuer.

**C.** **Regulation A/A+ Offerings** 

**<u>i. Obligations of the Customer</u>**

Where Customer has been engaged by its client as a broker-dealer in connection with an offering pursuant to Regulation A, 17 C.F.R. Parts 230.251-230.263 ("**Regulation A**"), the Customer shall verify that:

1. Customer
 shall complete a reasonable due diligence ensuring no anti-fraud or civil liabilities provisions
 of federal securities laws have been violated. As such, Customer shall maintain a Due Diligence
 file including the Issuer Agreement (or Selling Agreement); organizational, constating, financial,
 and administrative support to accept such Issuer engagement; and Issuer's Offering
 Memoranda, Subscription Document,. Further, the Due Diligence folder shall evidence the collection
 of such documents in a form as described in Customer's Written Supervisory Procedures
 ("WSPs"). Customer shall create and maintain customer files, including new account,
 accredited investor, or qualified purchaser questionnaires, including Investor attestations.

![](ex6-3_008.jpg)

![](ex6-2_001.jpg)

2. Issuer
 has filed a Form 1-A Offering Statement with the SEC, as described in Regulation A, §230.252
and §239.90, prior to making an offering to the public pursuant to Regulation A;

3. Issuer
 complies with marketing and advertising requirements of 17 C.F.R. Part II, Securities and
 Exchange Commission and the SRO, FINRA, including but not limited to, setting up the issuer
 landing page for the Offering website.

4. Signed
 and funded subscription agreements, executed by investors who have cleared AML/KYC, are reviewed
 by the Customer and a recommendation is made by Customer to Issuer regarding countersignature.

5. Prior
 to enabling countersignature:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Issuer
 has provided written confirmation to Customer that it has BlueSky notice filed in each state,
 as applicable depending on the states in which the securities are offered and whether the
 offering is conducted pursuant to Tier 1 or Tier 2 of Regulation A §230.252; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. For
 the first 25 days of an offering, Customer will monitor investors until the issuer has provided
 written confirmation that all state BlueSky requirements have been met for the 53 US jurisdictions.

6. Issuer
 and Issuer counsel have taken the steps required to review non-US investors, as required
 by the applicable international regulations.

![](ex6-3_008.jpg)

**DEALMAKER SECURITIES LLC ORDER FORM**

---

| | |
|:---|:---|
| Customer EthicStream Inc. | Contact: Joshua Soloway |
| Address: 500 West Putnam Ave., Suite 400 Greenwich, CT 06830 | Phone: 604-798-9533 |
| Commencement Date: 2022-11-10 | E-Mail: jsoloway@carbonethic.io |

---

By its signature below in the applicable section, Customer hereby engages and retains DealMaker Securities LLC, a registered Broker-Dealer, to provide the applicable services described in Exhibit A. Referenced within this Order Form are third party services provided by affiliates of DealMaker Securities LLC, subject to the Terms of Service applicable thereto (each such affiliates, a "**Company**").

Customer confirms that it understands the terms of this Order Form and the applicable Terms of Services, and by preceding with its order, agrees to be bound contractually with each respective Company. <u>The Applicable Terms of Service include and contain, among other things, warranty disclaimers, liability limitations and use limitations</u>.

There shall be no force or effect to any different terms other than as described or referenced herein (including all terms included or incorporated by reference) except as entered into by a Company and Customer in writing. This Agreement terminates the agreement entered into by and among DealMaker Securities LLC and CarbonEthic Holdings Inc. (the "Terminated Agreement"), and replaces the Terminated Agreement in its entirety.

---

| | |
|:---|:---|
| CUSTOMER | DEALMAKER SECURITIES LLC |
| */s/ jsoloway@carbonethic.io* | */s/ Mat Goldstein* |
| Authorized Representative | Authorized Representative |

---

Page 1 of 10

**Schedule A**

**Regulation A+ Offering Fees**

Fees related to the Offering are set forth in the categories below and are denominated in USD. Total expenses for the offering, including fees payable to DealMaker Securities and its affiliates as well as fees payable to third parties may vary depending on the amount of capital raised, and are anticipated as follows:

---

| | | |
|:---|:---|:---|
| **Total Offering Amount** | &nbsp;&nbsp;**Expected Total Fees**<br> **(To DealMaker Securities, Affiliates and Third-Parties)** | **Maximum Compensation** |
| $5000000.00 | $588,850.00 (11.78%) | 9.25% |
| $10000000.00 | $852,700.00 (8.53%) | 8.0% |

---

To ensure adherence to fair compensation guidelines, DealMaker Securities will ensure that, in any scenario, the aggregate fees payable to DealMaker Securities and its affiliates (but excluding third-party expenses) shall never exceed the amounts set forth in the column entitled "Maximum Compensation".

If the Offering is fully subscribed, the maximum fees will be $800,000.

**DealMaker Securities LLC (and affiliate) Fees:**

&nbsp;&nbsp;&nbsp;&nbsp;**A.**  **<u>Advisory and Consulting Services Prior to Launch</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** $85,000
 Advance (an advance against accountable expenses anticipated to be incurred, and refunded
 to extent not actually incurred, reimbursable to the issuer regardless of the termination
 of the offering or the receipt of the No Objection Letter, in compliance with FINRA Rule
 5110(g)(4)).

Services may include:

Due Diligence Review

● Reviewing and performing due diligence on Issuer and Principals and consulting with Issuer regarding same Consulting on Infrastructure for Self-Directed Electronic Road Show

● Consulting with Issuer on best business practices regarding raise in light of current market conditions and prior self-directed capital raises

● White-labeled platform customization to capture investor acquisition through the platform's analytic and communication tools

● Consulting with Issuer on question customization for investor questionnaire

● Consulting with Issuer on selection of webhosting services

● Consulting with Issuer on completing template for campaign page

● Advising Issuer on compliance of marketing material and other communications with the public with applicable legal standards and requirements

● Providing advice to Issuer on content of Form 1A and Revisions

● Advising Issuer on how to configure platform and link between prospective investors and the Issuer

● Assisting in the preparation of state, SEC and FINRA filings

● Working with the Client's SEC counsel in providing information to the extent necessary Consulting on Marketing for Self-Directed Electronic Road Show

● Assign an experienced designer to assist the Issuer on messaging

● Providing expertise on pre-existing Issuer created assets

● Providing direction on the creation of additional Issuer assets

● Consulting with Issuer on the creation of assets for all paid media and email campaigns (i.e Google Ads, Advertising Partners, Social Platform advertising)

● Advising Issuer on website design and implementation

Page 2 of 10

In the event that the Financial Industry Regulatory Authority ("**FINRA**") Department of Corporate Finance does not issue a no objection letter for the Offering, all DMS Fees are <u>fully refundable</u> other than services actually rendered in accordance with DMS standard hourly rates.

&nbsp;&nbsp;&nbsp;&nbsp;**B.**  **<u>Regulatory Corporate Filing Fees</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** $2,000 for reimbursement of actual out of pocket costs and expenses related to regulatory Pass-through fee payable to DMS, from the Customer, who will then forward it to appropriate regulatory agencies in payment for the filing. These fees are due and payable prior to any submission by DMS to such agencies.

&nbsp;&nbsp;&nbsp;&nbsp;**C.**  **<u>Transaction Fees During the Offering:</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.**  **<u>Advisory, Compliance and Consulting Services During the Offering: 1% cash (calculated monthly)</u>** 

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

● If necessary, discussions with the issuer regarding additional information or clarification on an issuer-invited investor;

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

● Reviewing each investor's subscription agreement to confirm such investor's participation in the offering and provide a recommendation to the company whether or not to accept the subscription agreement for the investor's participation;

● Contacting and/or notifying the company, if needed, to gather additional information or clarification on an investor;

● Providing a dedicated account manager;

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

● Consulting with Issuer regarding any material changes to the Form 1A which may require an amended filing; and

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

Fees are calculated as follows:

● One hundred (100) basis points on the aggregate amount accepted in the Offering, calculated based on the amount accepted into the Offering during the immediately preceding month.

**<u>DealMaker Technology Fees:\*</u>**

&nbsp;&nbsp;&nbsp;&nbsp;**A.**  **<u>Platform Hosting and Maintenance Fees:</u> $2,000 per month** 

Includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Full Analytics suite to track all aspects of the offering and manage the conversion of prospective investors into actual investors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Seats for up to 10 users (including legal, compliance, broker-dealer and transfer agent) Fees are payable at the beginning of each month

&nbsp;&nbsp;&nbsp;&nbsp;**B.**  **<u>Transaction Fees</u>** 

Includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** **General** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** $15
 per electronic signature executed on DealMaker platform

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ii.** $15
 per payment reconciled via DealMaker platform

Page 3 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b.** **Payment Processing Fees** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** Secure
 Bank-to-Bank Payments (USD) - 2.00%

**ii.** Credit
 Card Processing - 4.50%

**iii.** Express
 Wires - 1.00%

**iv.** Per
 Investor Refund Fee - $50.00

**v.** Failed
 Payment Fee — $5.00

**vi.** Reconciliation
 Report - $250

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c.** **AML Searches** (required for Reg A offerings)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** AML
 Search (individual) — $2.50

**ii.** AML
 Search (corporate) — $25.00

**\*DealMaker Technology is provided by Novation Solutions Inc. O/A DealMaker. Customer hereby agrees to the terms set forth in the DealMaker Terms of Service linked [<u>here</u>].**

---

| | |
|:---|:---|
| */s/ jsoloway@carbonethic.io* | */s/ Rebecca Kacaba* |
| Authorized Representative (Customer) | Authorized Representative (Novation Solutions Inc.) |

---

**DealMaker Reach Fees (Marketing)\***

&nbsp;&nbsp;&nbsp;&nbsp;**A.**  **<u>Self-Hosted Electronic Road Show Marketing Advisory and Consulting Services</u>** 

**As per the Marketing Service Agreement, defined below, DealMaker Reach's efforts and terms of service include, but are not limited to:**

● Fixed Fees –

○ $12,000 per month during the engagement term (accrued and owing but payment may be deferred until Client receives first distribution from the Platform; thereafter, on a monthly basis),

○ Plus $6,000 per month during the engagement term (accrued and owing but payment may be deferred until six months past the date this agreement is signed for months one through six, and until 12 months past the date this agreement is signed for the months seven through 12.)

● Assisting the Issuer to implement conversion events and campaign tracking

● Consulting on landing page tests for conversion rate improvement

● Coordinate with Campaign Platform Provider to develop and optimize campaign page(s)

● Assisting the Issuer to integrate DealMaker webhooks to build investor funnel and tracking of investor progress/status

● Providing status reports on the individual campaign vehicles (e-mail, paid social, etc.)

● Ongoing monthly communication for updates, strategic planning, implementations, and execution of marketing budget.

**\*Marketing Services are provided by DealMaker Reach LLC. Customer hereby agrees to the terms set forth in the DealMaker Reach Terms of Service linked [<u>here</u>].**

---

| | |
|:---|:---|
| */s/ jsoloway@carbonethic.io* | */s/ Jonathan Stidd* |
| Authorized Representative (Customer) | Authorized Representative (DealMaker Reach LLC) |

---

<br> Services DO NOT include providing any investment advice nor any investment recommendations to any investor.<br>

Issuers may elect to levy an administrative fee for online purchasers in an amount to be determined by the issuer.

Page 4 of 10

Exhibit A

DealMaker Securities Terms

**Broker-Dealer Agreement**

These terms and conditions create a binding agreement by and between the customer who has signed the Order Form ("**Client**"), and DealMaker Securities LLC, a FINRA-registered Broker-Dealer ("**DMS**")(the "**Agreement**"). DMS is a registered broker-dealer providing services in the equity and debt securities market, including offerings conducted via SEC approved exemptions such as Reg D 506(b), 506(c), Regulation A+, Reg CF and others.

Client is offering securities directly to the public in an offering exempt from registration under either Regulation A or Regulation CF (the "**Offering**"). Client recognizes the benefit of having DMS provide advisory and other services as described herein, on the terms hereof.

**1. Appointment, Term, and Termination**

a. Client hereby engages and retains DMS to provide consulting, operations and compliance services at Client's discretion.

b. If Client elects to carry out a Regulation CF Offering, Client retains DMS to act as the Client's Intermediary for the Offering, as defined by 17 C.F.R. Part 227.

c. The Agreement will remain in effect for a period of the earlier of: 1) twelve (12) months from the signing of the Order Form ("**Term**") and will renew automatically for successive renewal terms of sixty (60) days prior to the expiration of the current term or 2) the closing of the Offering. If Client defaults in performing the obligations under this Agreement, the Agreement may be terminated (i) upon sixty (60) days written notice if Clients fails to perform or observe any material term, covenant, or condition to be performed or observed by it under this Agreement and such failure continues to be unremedied, (ii) upon written notice if any material representation or warranty made by Client proves to be incorrect at any time in any material respect, (iii) upon written notice, in order to comply with a legal requirement, if compliance cannot be timely achieved using commercially reasonable efforts, after providing as much notice as practicable, or, (iv) without limiting the foregoing, at any time if, after the commencement of DMS's due diligence of the Client, DMS believes that is not advisable to proceed with the contemplated Offering. If Client or DMS commences a voluntary proceeding seeking liquidation, reorganization or other relief, or is adjudged bankrupt or insolvent or has entered against it a final and unappealable order for relief, under any bankruptcy, insolvency, or other similar law, or either party executes and delivers a general assignment for the benefit of its creditors, the Agreement may be terminated upon thirty (30) days' written notice.

d. The termination of this Agreement as described herein shall not exclude the availability of any other remedies. Any delay or failure by either party to exercise, in whole or in part, any right, power, remedy or privilege shall not be construed as a waiver or limitation to exercise, in whole or in part, such right, power, remedy or privilege.

e. All terms of the Agreement, which should reasonably survive termination, shall survive, including, without limitation, confidentiality, limitations of liability and indemnities, arbitration and the obligation to pay Fees relating to Services provided prior to termination.

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**2. Services.** DMS will perform the services listed on the Order Form in connection with the Offering (the "**Services**").

**3. Fees.** As payment for the Services, Client shall pay to DMS such fees as described in the Order Form. Client authorizes DMS to deduct any fees owing directly from the Client's bank account or third- party escrow account (if applicable).

**4. Regulatory Compliance**

a. Client and all its third-party providers shall at all times (i) comply with direct requests of DMS: (ii) maintain all required registrations and licenses, including foreign qualification, if necessary; and (iii) pay all related fees and expenses (including the FINRA Corporate Filing Fee) in each case that are necessary or appropriate to perform their respective obligations under this Agreement. Client shall comply with and adhere to all DMS policies and procedures which shall be provided to Client.

b. Client and DMS will have shared responsibility for the review of all documentation related to the Offering but the ultimate discretion about accepting an Investor will be the sole decision of the Client. Each Investor will be considered to be that of the Client's and NOT DMS.

c. Client and DMS shall each supervise and train their respective employees, agents, representatives and independent contractors in the performance of functions allocated to them pursuant to the terms of this Agreement.

d. If either Client orDMS receives material communications (orally or in writing) from any Governmental Authority or Self-Regulatory Organization with respect to this Agreement or the performance of either party's obligations thereunder, the receiving party shall promptly provide said communications to the opposite party, unless such notification is expressly prohibited by the applicable Governmental Authority.

**5. Role of DMS.** Client acknowledges and agrees that Client relies on Client's own judgement in engaging DMS Services. Client understands and agrees that DMS (i) is not assuming any responsibility for the Client''s underlying business decision to pursue any business strategy or effect any Offering; (ii) makes no representations with respect to the quality of any investment opportunity in connection with the Offering (iii) does not guarantee the performance to or of any Investor in the Offering, (iv) does not guarantee the performance of any third party which provides services to DMS or Client with respect to the Offering,) (v) will make commercially reasonable efforts to perform the Services pursuant to this Agreement (vi) is not an investment adviser, does not provide investment advice and does not recommend securities transactions and any display of data or other information about the Offering, does not constitute a recommendation as to the appropriateness, suitability, legality, validity, or profitability of any Offering, (vii) Services in connection with this Agreement should not be construed as creating a partnership, joint venture, or employer-employee relationship of any kind, (ix) Services in connection with this Agreement that require registration as a FINRA/SEC registered broker-dealer shall be performed exclusively by DMS or an associated person of DMS , (x) is not providing any accounting, legal or tax advice, and (xi) will use "commercially reasonably efforts" to perform Services pursuant to this Agreement but that this shall not give rise to any express or implied commitment by DMS to purchase or place any of the Client's securities. <u>Client explicitly acknowledges that DMS shall not and is under no duty to recommend Client's security and DMS is not selling Client's security to retail investors</u>.

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**6. Indemnification**

a. <u>Indemnification by Client.</u> Client shall indemnify and hold DMS, its affiliates and their respective members, officers, directors and agents harmless from any and all actual or direct losses, liabilities, claims, demands, judgements, arbitrations awards, settlements, damages, and costs (collectively "**Losses**"), resulting from or arising out of any third party suits, actions, claims, demands, investigations or similar proceedings (collectively "**Claim**") to the extent they are based upon (i) a breach of this Agreement by Client, (ii) the wrongful acts or omissions of Client, or (iii) the Offering.

b. <u>Indemnification by DMS.</u> DMS shall indemnify and hold Client, Client's affiliates and Client's representatives and agents harmless from any Losses resulting from or arising out of Proceedings to the extent they are based upon (i) a breach of this Agreement by DMS or (ii) the wrongful acts or omissions of DMS or its failure to comply with any applicable federal, state, or local laws, regulations, or codes in the performance of its obligations under this Agreement.

c. <u>Indemnification Procedure.</u> If any Proceeding is commenced against a party entitled to indemnification under this section, prompt notice of the Proceeding shall be given to the party obligated to provide such indemnification. The indemnifying party shall be entitled to take control of the defense, investigation or settlement of the Proceedings and the indemnified party agrees to reasonably cooperate, at the indemnifying party's cost in ensuing investigations, defense or settlement. The indemnifying party shall reimburse the indemnified party for all expenses (including reasonable fees, disbursements and other charges of counsel) as they are incurred in connection with investigating, preparing, pursuing, defending, or settling a Claim (including without limitation any shareholder or derivative action); provided, however, that indemnifying party will not be liable to indemnify and hold harmless or reimburse an indemnified party pursuant to this paragraph to the extent that an arbitrator (or panel of arbitrators) or court of competent jurisdiction will have determined by a final non-appealable judgment that such Claim resulted from the gross negligence or willful misconduct of such indemnified party. The indemnifying party will not settle, compromise or consent to the entry of a judgment in any pending or threatened Claim unless such settlement, compromise or consent includes a release of the indemnified parties satisfactory to the indemnified parties.

d. <u>Indemnified Party Limitation Of Liability</u>. No indemnified party shall have any liability (whether direct or indirect, in contract, tort or otherwise) to the indemnifying party arising from or related to the Agreement or the Offering or any actions or inactions allegedly taken by the indemnified party in connection with the Agreement, except to the extent that an arbitrator (or panel of arbitrators) or a court of competent jurisdiction determines by a final non-appealable judgment that Losses resulted from the gross negligence or willful misconduct of such indemnified party. In no event shall the indemnified party be liable or obligated in any manner for any consequential, exemplary or punitive damages or lost profits incurred by the Client arising from or relating to the Agreement, an Offering, or any actions or inactions taken by an indemnified party in connection with the Agreement, and the Client agrees not to seek or claim any such damages under any circumstances.

e. <u>Insufficient Funding For A Claim.</u> If the foregoing indemnification or reimbursement is judicially determined to be unavailable or insufficient to fully indemnify and hold harmless DMS as an indemnified party against a Claim, the Client will contribute to the amount paid or payable by an indemnified party as a result of such Claim in such proportion as is appropriate to reflect the relative financial benefits of the Offering to the Company, on the one hand, and the indemnified party, on the other hand; or if such allocation is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits but also the relative fault of the Client on the one hand and the indemnified party on the other hand with respect to such Claim as well as any other relevant equitable considerations. Notwithstanding the preceding paragraphs, in no event will the aggregate amount to be contributed by all indemnified parties towards all Claims and Client losses, exceed the actual fees received by DMS pursuant to the Agreement.

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5. <u>Witness Reimbursement.</u> In the event that DMS or any of its employees, officers, directors, affiliates or agents are requested or required to appear as a witness or subpoenaed to produce documents in any action in which the Client or any of its affiliates is a party to and DMS is not, the Client will reimburse DMS for all expenses incurred by its employees, officers, directors, affiliates or agents in preparing for and appearing as a witness or producing documents, including the reasonable fees and disbursements of legal counsel.

7. <u>Notices.</u> Any notices required by the agreement shall be in writing and shall be addressed, and delivered via email at the email address included in the Order Form.

**8.** **Confidentiality and Mutual Non-Disclosure:**

a) <u>Included Information</u>. For purpose of this Agreement, the term "**Confidential Information**" means all non-public, confidential and/or proprietary information disclosed by one party to this Agreement ("**Disclosing Party**") to the other party ("**Receiving Party**"), including but not limited to (i) financial information, (ii) business and marketing plans, (iii) the names of employees and owners, (iv) the names and other personally identifiable information of customers (v) intellectual property, and (vi) all documentation provided by investors in the Offering.

b) <u>Excluded information.</u> For purposes of this Agreement, the term "Confidential nformation" shall not include (i) information already known to the Receiving Party prior to disclosure by the Disclosing Party, (ii) information independently developed by the Receiving Party without the use of any confidential and proprietary information, (iii) information known to the public through no wrongful act of the Receiving Party, (iv) information that becomes known to the Receiving Party from a third party not bound by a confidentiality obligation to the Disclosing Party.

c) <u>Confidentiality Obligations.</u> During the Term and at all times thereafter, Receiving Party shall not disclose Confidential Information of the Disclosing Party or use such Confidential Information for any purpose without the prior written consent of Disclosing Party. Each party shall use at least the same degree of care in safeguarding the other party's Confidential Information as it uses to safeguard its own Confidential Information. Notwithstanding the forgoing, a Receiving Party may disclose Confidential Information (i) if required to do by order of a court of competent jurisdiction, provided that Receiving Oarty shall notify the Disclsoing Oarty in writing promptly upon receipt of knowledge of such order so that Receiving Party may attempt to prevent such disclosure or seek a protective order, or (ii) as required by applicable law. Nothing contained herein shall be construed to prohibit the SEC, FINRA, or other government entities from obtaining, reviewing, and auditing any information, records, or data of either party containing Confidential Information.

d) <u>Disclosure and Retention Of Confidential Information.</u> DMS is hereby expressly permitted by Client to disclose Confidential Information to third parties involved in the Offering contemplated herein, provided that Client has been informed of such disclosure in advance and has approved such disclosure (either orally or in writing). DMS may retain one copy of the Client's Confidential Information to the extent necessary to comply with industry-specific document retention rules and other regulations, and in an archived computer backup system stored as a result of automated backup procedures for compliance purposes. Client acknowledges that regulatory record-keeping requirements, as well as securities industry best practices, require DMS to maintain copies of practically all data and communications, even after this Agreement is terminatedAgreement.

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e) <u>Logo Display.</u> The Parties agree that the display of a Party's name or logo on a website or in connection with any marketing materials shall not be considered a disclosure of Confidential Information.

**9. Miscellaneous**

a. These terms are non-exclusive and shall not be construed to prevent either party from engaging in any other business activities.

b. This Agreement shall be binding upon the parties hereto and their respective heirs, administrators, successors, and assigns. This Agreement may be modified or amended only by a written consent executed by the other party.

c. Either party may assign this Agreement to any person or entity that acquires all or substantially all of its business or assets, in which case the other party's consent shall not be unreasonably withheld. This includes an assignment to a subsidiary that an entity party may create or to a company affiliated with or controlled directly or indirectly by an entity party .

d. When Offering closes, Client agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) DMS, may prepare media materials of its choosing, at its own expense and in compliance with applicable regulations, describing DMS' Services in the Offering as described in this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Client issues a press release regarding the Offering, it shall include reference to DMS as the broker-dealer on the Offering.

With respect to the preparation of any other marketing or media materials either before or after Offering closes, Client and DMS will work together to authorize and approve in writing any additional co-branded notifications. press releases and/or Client facing communication materials regarding the representations in this Agreement.

e. This Agreement shall be construed in accordance with the laws of the State of New York without regard to conflict of laws principles. The parties submit to the jurisdiction of and venue in the federal courts located in the state of New York with respect to any dispute related to this Agreement and any Offering contemplated herein and waive their right to a jury trial (whether such disputes are based on contract, tort or otherwise.) Notwithstanding the above, the parties agree that ANY DISPUTE, CONTROVERSY, CLAIM OR CAUSE OF ACTION BETWEEN THE CLIENT AND DMS DIRECTLY OR INDIRECTLY RELATING TO OR ARISING OUT OF THIS AGREEMENT, OR BREACH THEREOF required or allowed to be conducted by the Financial Industry Regulatory Authority's ("FINRA") rules (including the FINRA Code of Arbitration Procedure for Industry Disputes) shall be arbitrated in accordance with such rules. Any arbitration shall be before a neutral arbitrator or panel of arbitrators selected under the FINRA Neutral List Selection System (or any successor system) and in a forum designated by the Director of FINRA Dispute Resolution or any member of FINRA Staff to whom such Director has delegated authority. In general accordance with FINRA Rule 2268, by signing an arbitration agreement the parties agree as follows:

(i) This Agreement contains a pre-dispute arbitration clause.

(ii) Except as otherwise provided in this Agreement, all parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed.

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(iii) Arbitration awards are generally final and binding; a party's ability to have a court reverse or modify an arbitration award is very limited.

(iv) The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

(v) The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.

(vi) Any panel of arbitrators may include a minority of arbitrators who were or are affiliated with the securities industry.

(vii) The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

(ix) The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

(x) As provided in FINRA Rule 2268, no person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is decertified; or (iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

f. The language used in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will be applied against any party. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement.

g. If any provision, term or condition of this Agreement is invalid, void or unenforceable by a court of competent jurisdiction, or a regulatory or self-regulatory agency or body by order or judgment not subject to review, the remaining provisions, terms and conditions shall not be affected and shall remain in full force and effect, and this Agreement shall be carried out as if any such invalid, void or unenforceable provisions, terms or conditions were not included in the Agreement.

h. This Agreement, along with the Order Form and applicable schedule of DMS fees, contains the entire agreement between the parties and supersedes any prior and collateral agreements, communications, understandings and negotiations relating to the subject matter herein. The Agreement may not be modified or amended except by written agreement executed by both parties.

i. Pursuant to the requirements of Title III of Pub. L. 107-56 (the USA Patriot Act), as amended (the "**Patriot Act**") and other applicable laws, rules and regulations, DMS is required to obtain, verify and record information that identifies the Client which information includes the name and address of the Client and other information that that allows DMS to identify the Client in accordance with the Patriot Act and other such laws, rules and regulations.

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## Add

**Exhibit 6.3**

![](ex6-3_001.jpg)

**DealMaker Reach LLC Services Agreement**

This Agreement ("***Agreement***") sets forth the terms of service between DEALMAKER REACH, LLC, a Delaware limited liability company, with its principal place of business at 115 Havana Street, Austin, TX 78704 ("***Service Provider***"), and Customer. Service Provider and Customer may be referred to individually as a "***party***" or collectively as the "***parties***".

1. THE SERVICES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1.** **Overview**. Service Provider shall provide certain digital marketing services as described on the Order Form (collectively, the "***Services***") subject to the terms and conditions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.** Customer shall provide Service Provider with all reasonably necessary materials, company history, financial statements, business and market description, bios of principals and key employees, customers, products, services, tax returns, financial models, systems, pricing, intellectual property, technical specifications, access to social media channels, and all other pre-conditions necessary for providing the Services (the "**Information**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3.** The parties acknowledge and agree that all such Information comes from Customer and that Service Provider does not create such Information and relies on its accuracy, ownership and property. Customer represents and warrants to the Service Provider that all such Information is accurate, true and correct and that, in the event Information changes during the term of this Agreement, Customer shall provide updated Information to Service Provider. Customer further acknowledges that Service Provider bases its Services on such Information.

2. RELATIONSHIP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1.** Service Provider and Customer are independent contractors in all matters relating to this Agreement. Nothing in this Agreement shall be construed to create any partnership, joint venture, agency, employment, or any other relationship between the parties. Except for Service Provider's provision of Services to Customer in connection with the Marketing Spend, neither party has the authority to act on behalf of or to enter into any contract, incur any liability, or make any representation on behalf of the other party, unless otherwise expressly agreed to in writing signed by both parties. Service Provider has exclusive control over its employees, representatives, agents, contractors and subcontractors, and none of the foregoing shall be deemed to be employees of Customer or eligible to participate in any employment benefit plans or other benefits available to Customer employees. Customer shall exercise no immediate control over the actual means and manner of Service Provider's performance under this Agreement, except to the extent that Customer expects the satisfactory completion of the Services under this Agreement. Each party is responsible for its respective employees, representatives, agents, contractors and subcontractors, and the foregoing's compliance with the terms of this Agreement. Service Provider is not and shall not be deemed to be a dealer, broker, finder, intermediary or otherwise entitled to any brokerage, finder's, or other fee or commission in connection with any purchase or sale of securities resulting from Service Provider's general marketing services. Service Provider shall be solely responsible for all local, state and federal tax liabilities arising from any income received under this Agreement, whether cash or stock.

Service Agreement Page 1

**3. TERM AND TERMINATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.** **Term.** The initial term of this Agreement commences on the Effective Date and shall continue in full force and effect for six (6) months (the "***Term***") and shall automatically renew for successive sixty (60) day periods. After the initial Term, either party may notify the other party of its intention not to renew this Agreement upon at least forty-five (45) days notice ("***Pre-Termination Period***"). In the event that the Customer terminates this Agreement prior to the end of the Term, Customer shall pay Service Provider a termination fee equivalent to Service Provider's remaining monthly fees and expenses for a forty-five (45) day period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.** **Termination for Cause**. Either party may terminate this Agreement based on a material breach of this Agreement by the other party, provided that if such material breach is curable, the terminating party shall first give the breaching party written notice specifying the circumstances of the material breach and provide such breaching party with fifteen (15) calendar days to cure such breach as provided herein. Termination shall become effective after the lapse of such cure period, unless the events or circumstances specified in the notice have been remedied or a plan for remedying them in a prompt and effective manner has been proposed to and accepted by the terminating party and the other party has proceeded diligently to cure. This Agreement will terminate immediately upon written notice to the other party if either party becomes insolvent, makes a general assignment for the benefit of creditors, files a voluntary petition of bankruptcy, suffers or permits the appointment of a receiver for its business or assets, becomes subject to any proceedings under any bankruptcy or insolvency law, whether domestic or foreign, or has wound up or liquidated its business voluntarily or otherwise, and same has not been discharged or terminated within ninety (90) days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3.** **Effect of Termination**. Upon the expiration or termination of this Agreement, unless otherwise agreed by the parties in writing, (a) Customer shall promptly pay the prorated amount of any Fixed Fees and Expenses for Services rendered under this Agreement on or before the effective date of termination which shall also include all Service Provider fees and expenses incurred during the Pre-Termination Period; (b) Service Provider will cease the provision of all Services and expenditure of the Marketing Spend and return to Customer any unused prepaid budget and Marketing Spend less outstanding Fixed Fees and Expenses; and (c) all legal obligations, rights, and duties arising out of this Agreement shall terminate except for such legal obligations, rights, and duties that have accrued prior to the effective date of termination and except as otherwise expressly provided in this Agreement.

4. FEES AND EXPENSES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1** Customer is responsible for all costs and expenses incurred on Customer's behalf in connection with the provision of the Services ("***Expenses***"). Any Expenses outside of the agreed budget are subject to Customer's prior written approval. Customer is also responsible for its own costs and expenses incurred in connection with the Campaign on the Platform, and Customer acknowledges and agrees that the Platform charges fees related to the Campaign as set forth in the Platform's terms and conditions. These Platform fees are completely unrelated to Service provider's compensation as set forth herein this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2. Budget and Marketing Spend**. In consultation with Customer, Service Provider shall use its discretion and experience in allocating the marketing and advertising costs expended during the Campaign ("***Marketing Spend***") and report all expended marketing and advertising costs to Customer at least once per month. Customer will authorize Service Provider in writing via email to incur fees in connection with the placement of partnership advertisements ("**Partnership Fees"**). Customer acknowledges that Customer must pay Service Provider fifty (50) percent of all Partnership Fees before Service Provider places an advertisement on Customer's behalf. Service Provider shall reasonably cooperate with Customer to adjust its strategy in allocating the Marketing Spend in response to Customer feedback based on analytics reporting. Service Provider may request additional budget and authority for Marketing Spend with Customer's prior written consent. All Marketing Spend up to the agreed budget amount will be charged directly to Customer's provided payment method. Customer acknowledges that Service Provider or its affiliates may have an ownership interest in some providers of placement advertisements, details of which are available upon Customer's request. Unless Customer expressly instructs otherwise, Service Provider may use its discretion in deploying Marketing Spend, including but not limited to Partnership Fees.

Service Agreement Page 2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3** **Securities.** The Parties agree that any securities issued by Customer in connection with the Services may be registered under the name of the Service Provider's parent company, Novation Solutions USA, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4** **Payment.** Launch Fee is payable within five (5) days of the execution of this Agreement. Monthly fees are payable beginning five (5) days from the execution of this Agreement. For all other fees, Customer will be billed for fees incurred on a monthly basis. After the Customer receives its first disbursement from offering securities directly to the public in an offering exempt from registration under either Regulation A or Regulation CF for which the Services are provided ("**Offering**"), within seven (7) days of the end of any month in which Services were rendered, payment will be automatically debited from the Customer's bank account or credit card on file, with a receipt to be automatically delivered. Invoices will be available for the customer to review upon request. In respect of **Partnership Fees**, such fees shall be immediately due and payable within seven (7) days of the fees being incurred All payments in respect of Partnership Fees shall be automatically debited from the Customer's bank account or credit card on file. In the event that a Customer payment fails, Customer has fourteen (14) days to re–connect their bank account or credit card and submit payment for any outstanding invoices. In the event that payment for all outstanding invoices is not cleared within 14 days, all partnership advertisements and marketing services will be paused until payment is received and the Customer's bank account or credit card authorization is restored.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5. Paused Services.** Customer may request that Services (and corresponding Fees) be paused ("**Pause Date**"). Customer shall pay (a) any Partnership Fees incurred prior to the Pause Date; and (b) Service Provider's monthly service fees for forty-five (45) days from the Pause Date, to provide staff reallocation. When a campaign is paused, Service Provider will place the campaign in a queue behind other marketing campaigns that are ready to launch ("***Launch Queue*")**. Customer acknowledges that Service Provider may not have staff available to relaunch a paused campaign on the Customer's date of choice. Customer campaign may be relaunched once Customer's campaign reaches the beginning of the Launch Queue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6 Unpaid Invoices.** In the event that Customer fails to pay all outstanding invoices pursuant to this Agreement, Customer agrees that it shall pay the full amount of the outstanding invoices from the proceeds of the Offering, within seven (7) days of the disbursement of such proceeds to the Customer, plus applicable interest. In the event that Customer fails to pay any invoice due and payable ("***Arrears***") to Service Provider and such Arrears are not cleared or Customer account is not brought back into good standing within 30 days, all Services pursuant to this Agreement will be paused and Customer's campaign will be placed at the end of the Launch Queue until payment is received in full. Once payment is received in full, Customer's campaign will move forward through the Launch Queue. Service provider shall have the right to register a lien on any assets or property of the Customer in respect of fees owed and outstanding to Service Provider for more than sixty (60) days.

Service Agreement Page 3

***6.*** **CONFIDENTIALITY**. Service Provider and Customer may, during the course of this Agreement, have access to or acquire knowledge from discussions with one another's personnel and from material, data, systems and other information with respect to the other which may not be accessible or known to the general public, including, but not limited to, financial, business, scientific, technical, economic, or engineering information or other proprietary or confidential information of a party ("***Confidential Information***"). Confidential Information does not include information which: (a) is or becomes generally available to the public other than as a result of disclosure by the receiving party (or any person to whom the receiving party disclosed such information); (b) was known by the receiving party prior to its disclosure by the disclosing party; (c) was independently developed by receiving party without use of the Confidential Information; (d) is authorized, in writing, by the disclosing party to be disclosed; or (e) becomes available to the receiving party on a non-confidential basis from a source other than the disclosing party, provided that such source is not bound by a confidentiality agreement, confidentiality obligation, or fiduciary duty which prohibits disclosure and the receiving party has no reason to believe that such source may be restricted from making such disclosure. Disclosing party shall retain all right, title, and interest in and to its Confidential Information, and nothing in this Agreement shall be construed as granting to receiving party either expressly, by implication, estoppel, or otherwise, any rights in or to disclosing party's Confidential Information, except to fulfill the purpose of this Agreement. Receiving party shall not use disclosing party's Confidential Information for any purpose other than to exercise or perform its rights or obligations under this Agreement. Receiving party shall not, without the prior written consent of disclosing party, disclose, disseminate, or otherwise communicate, in whole or in part, disclosing party's Confidential Information to any third party except to the receiving party's employees, agents, or representatives with a need to know the Confidential Information and are bound by confidentiality obligations at least as restrictive as those contained herein. Receiving party agrees to protect disclosing party's Confidential Information from disclosure with the same degree of care used to protect the confidentiality of its own Confidential Information, but in no event less than reasonable care. In the event that receiving party becomes compelled by law or order of court or administrative body to disclose any of disclosing party's Confidential Information, receiving party shall be entitled to disclose such Confidential Information, provided that: (a) receiving party provides disclosing party with prompt prior written notice to allow disclosing party the opportunity to safeguard the Confidential Information including but not limited to seeking a protective order or other appropriate legal remedy and (b) if such protective order or other appropriate remedy is not obtained, receiving party shall furnish only that portion of disclosing party's Confidential Information which is legally required to be disclosed. Receiving party shall return or destroy (in disclosing party's discretion) disclosing party's Confidential Information upon written demand by disclosing party or expiration or termination of this Agreement.

**7.** **INDEMNIFICATION**. Each party shall indemnify, defend (at its own cost and expense) and hold other party and its officers, employees, and agents harmless from and against any and all third party claims, suits, demands, damages, losses and expenses (including reasonable attorneys' fees) ("***Claims***") arising from such party's breach of this Agreement or such party's negligence, fraud or willful misconduct, provided that the Claims do not result from the other party's negligence or willful misconduct. If a party entitled to indemnification ("***Indemnified Party***") becomes aware of any Claims it believes is indemnifiable hereunder, the Indemnified Party shall give the other party ("***Indemnifying Party***") prompt written notice of such Claims. Notice shall (a) describe the basis on which indemnification is being asserted and (b) be accompanied by copies of all relevant pleadings, demands, and other papers related to the Claims in the possession of Indemnified Party. Indemnifying Party shall assume the defense of any such Claims. Indemnified Party shall cooperate, at the expense of Indemnifying Party, with Indemnifying Party and its counsel in the defense. Indemnified Party shall have the right to participate fully, at its own expense, in the defense of such Claims. Any compromise or settlement of such Claims shall require the prior written consent of both parties hereunder, such consent not to be unreasonably withheld or delayed. The foregoing indemnities will be in addition to, not in lieu of, all other legal rights and remedies that each party may have.

8. REPRESENTATIONS AND WARRANTIES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.** **Mutual Representations**. Each party represents and warrants that (a) it has the right to enter into this Agreement and to fully perform its obligations hereunder; (b) by entering into this Agreement, it does not violate any agreement existing between it and any other person or entity; and (c) it will comply with all applicable laws, rules, and regulations of any jurisdiction in which it conducts business.

Service Agreement Page 4

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2.** **Service Provider Representations**. Service Provider represents and warrants that (a) the Services under this Agreement will be performed in a timely and workmanlike manner in accordance with generally acceptable standards in the community used by service providers providing similar services, and (b) the Work Product, and the intended use thereof in accordance with the terms of this Agreement, will not infringe, violate, or misappropriate any third party rights, including without limitation, any copyrights, trademarks, trade secrets, privacy, publicity, or other proprietary or intellectual property rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3.** **Customer Representations**. In addition to the terms of Section 1.3, Customer represents and warrants that any Customer assets or materials provided pursuant to Section 1.3, and the intended use thereof in accordance with the terms of this Agreement, will not infringe, violate, or misappropriate any third party rights, including without limitation, any copyrights, trademarks, trade secrets, privacy, publicity, or other proprietary or intellectual property rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4.** **Customer No Unauthorized Usage**. Customer acknowledges that Customers must use DealMaker as the Platform for their Offering, Customer must execute a separate Order form with Novation Solutions Inc., o/a DealMaker and accept the terms of service set forth in the DealMaker Terms of Service linked **[<u>here</u>]** to use the DealMaker software.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.5 No Guarantees**. Customer understands that Service Provider does not and cannot make any guarantees about Customer's Campaign. No language or provision in this Agreement or any related proposal shall be construed as a guarantee or warranty of any type by Service Provider, including, without limitation, the success of this Campaign, the amount of funds raised on this Campaign, or anything relating to the scope of work or quality of work by Service Provider on this Campaign.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.6. Disclaimers**. Except as expressly set forth in this Agreement, the Services are provided on an "as is" and "as available" basis without any warranties, express or implied, including, without limitation, implied warranties of merchantability or fitness for a particular purpose, and Service Provider expressly disclaims all warranties. Customer agrees and understands that Service Provider has no fiduciary duty to Customer.

**9.** **LIMITATION OF LIABILITY**. EXCEPT FOR LIABILITY ARISING UNDER INDEMNIFICATION, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY IN ANY MANNER, UNDER ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), BREACH OF WARRANTY OR OTHER THEORY, FOR ANY INDIRECT, CONSEQUENTIAL, INCIDENTAL, EXEMPLARY, PUNITIVE OR SPECIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, LOST PROFITS AND LOSS OF DATA, REGARDLESS OF WHETHER SUCH PARTY WAS ADVISED OF OR WAS AWARE OF THE POSSIBILITY OF SUCH DAMAGES. EXCEPT FOR AMOUNT OWED AND LIABILITY ARISING UNDER INDEMNIFICATION, IN NO EVENT SHALL EITHER PARTY'S AGGREGATE LIABILITY TO THE OTHER PARTY OR ANY THIRD PARTY ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT FROM ALL CAUSES OF ACTION AND ALL THEORIES OF LIABILITY EXCEED COMPENSATION PAID TO SERVICE PROVIDER UNDER THIS AGREEMENT. THE LIMITATIONS SET FORTH IN THIS PARAGRAPH SHALL BE DEEMED TO APPLY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW AND NOTWITHSTANDING THE FAILURE OF THE ESSENTIAL PURPOSE OF ANY LIMITED REMEDIES SET FORTH IN THIS AGREEMENT. THE PARTIES ACKNOWLEDGE AND AGREE THAT THEY HAVE FULLY CONSIDERED THE FOREGOING ALLOCATION OF RISK AND FIND IT REASONABLE, AND THAT THE FOREGOING LIMITATIONS IN THIS SECTION ARE AN ESSENTIAL BASIS OF THE BARGAIN BETWEEN THE PARTIES.

10. GENERAL

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.** **Force Majeure**. Excluding any obligations of a party to pay monies due hereunder, neither party will be responsible for any delay or failure in its performance or obligations under this Agreement due to causes beyond its reasonable control, including, without limitation, labor disputes, strikes, civil disturbances, government actions, fire, floods, acts of God, war, terrorism, or other similar occurrences (each, a "***Force Majeure Event***"); provided that the party affected by such Force Majeure Event (a) is without fault in causing such delay or failure, (b) notifies the other party of the circumstances causing the Force Majeure Event, and (c) takes commercially reasonable steps to eliminate the delay or failure and resume performance as soon as practicable.

Service Agreement Page 5

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2.** **No Waiver**. A party does not waive any right under this Agreement by failing to insist on compliance with any of the terms of this Agreement or by failing to exercise any right hereunder. Any waivers granted hereunder are effective only if recorded in a writing signed by the party granting such waiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3.** **Entire Agreement**. This Agreement contains the entire agreement of the parties hereto with respect to the subject matter herein, and supersedes all prior discussions, negotiations, understanding, and written and oral agreements between the parties concerning this subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.4.** **Severability**. If one or more provisions of this Agreement are held to be invalid, illegal, or unenforceable, under present or future law, such provision shall be deemed modified to the least degree necessary to remedy such invalidity, illegality, or unenforceability while retaining the original intent of the parties, and the remainder of this Agreement shall continue in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.5.** **Amendments**. This Agreement may be modified or amended only in writing, if the writing is signed by the party obligated under the amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.6.** **Governing Law; Arbitration**. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to its conflicts of law rules. Any and all controversies, claims, or disputes arising out of or relating to this Agreement, or the interpretation, performance, or breach thereof, including the scope or applicability of this provision to arbitrate ("***Dispute***") shall be referred to senior management of the parties for good faith discussion and resolution. In the event the parties cannot resolve any Dispute informally, then such Dispute shall be submitted to confidential, final, and binding arbitration administered by Judicial Arbitration and Mediation Services Inc. ("***JAMS***") pursuant to its then-prevailing Comprehensive Arbitration Rules and Procedures. The arbitration shall take place in New York. The arbitration shall be before a single, neutral arbitrator who is a former or retired New York state or federal court judge. The arbitration may be initiated by any party by giving to the other party written notice requesting arbitration, which notice shall also include a statement of the claims asserted and the facts upon which the claims are based. The arbitrator shall not have any power to alter, amend, modify or change any of the terms or provisions of this Agreement. Except as prohibited in this Agreement, the arbitrator shall have the authority to award any remedy or relief otherwise available in a court of law. The arbitrator's award shall be accompanied by a reasoned written opinion, will be binding on the parties, and may be entered as a judgment in any court of competent jurisdiction. Any party may bring an action in any court of competent jurisdiction to compel arbitration under this Agreement and to enforce an arbitration award. Notwithstanding this arbitration provision, either party shall be entitled to seek injunctive relief (unless otherwise precluded by any other provision of this Agreement) from any court of competent jurisdiction. If for any reason an action proceeds in court rather than in arbitration, it shall be brought exclusively in a state or federal court of competent jurisdiction located in New York and the parties expressly consent to personal jurisdiction and venue therein and expressly waive any right to trial by jury.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.7.** **Notice**. Any notice or communication required or permitted under this Agreement shall be sufficiently given if delivered in person or by email or certified mail, return receipt requested, to the address set forth in the opening paragraph or to such other address as one party may have furnished to the other in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.8.** **Assignment**. Neither party may assign or transfer this Agreement without the prior written consent of the other party, which approval shall not be unreasonably withheld. Notwithstanding the foregoing, either party may assign this Agreement in its entirety, upon written notice without the other party's consent, to an affiliate or to its successor or acquirer, as the case may be, in connection with a merger, acquisition, corporate reorganization, or sale of all or substantially all of such party's assets or substantially similar transaction. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties and their respective successors and permitted assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.9.** **Counterparts and Electronic Signatures**. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same document. The parties agree that the electronic signatures appearing on this Agreement are the same as handwritten signatures for the purpose of validity, enforceability, and admissibility.

Service Agreement Page 6

**DEALMAKER SECURITIES LLC ORDER FORM**

---

| | |
|:---|:---|
| Customer EthicStream Inc. | Contact: Joshua Soloway |
| Address: 500 West Putnam Ave., Suite 400 Greenwich, CT 06830 | Phone: 604-798-9533 |
| Commencement Date: 2022-11-10 | E-Mail: jsoloway@carbonethic.io |

---

By its signature below in the applicable section, Customer hereby engages and retains DealMaker Securities LLC, a registered Broker-Dealer, to provide the applicable services described in Exhibit A. Referenced within this Order Form are third party services provided by affiliates of DealMaker Securities LLC, subject to the Terms of Service applicable thereto (each such affiliates, a "**Company**").

Customer confirms that it understands the terms of this Order Form and the applicable Terms of Services, and by preceding with its order, agrees to be bound contractually with each respective Company. <u>The Applicable Terms of Service include and contain, among other things, warranty disclaimers, liability limitations and use limitations</u>.

![](image_011.jpg)There shall be no force or effect to any different terms other than as described or referenced herein (including all terms included or incorporated by reference) except as entered into by a Company and Customer in writing. This Agreement terminates the agreement entered into by and among DealMaker Securities LLC and CarbonEthic Holdings Inc. (the "Terminated Agreement"), and replaces the Terminated Agreement in its entirety.

---

| | |
|:---|:---|
| CUSTOMER | DEALMAKER SECURITIES LLC |
| */s/ jsoloway@carbonethic.io* | */s/ Mat Goldstein* |
| Authorized Representative | Authorized Representative |

---

Page 1 of 10

**Schedule A**

**Regulation A+ Offering Fees**

Fees related to the Offering are set forth in the categories below and are denominated in USD. Total expenses for the offering, including fees payable to DealMaker Securities and its affiliates as well as fees payable to third parties may vary depending on the amount of capital raised, and are anticipated as follows:

---

| | | |
|:---|:---|:---|
| **Total Offering Amount** | **Expected Total Fees**<br> **(To DealMaker Securities,**<br> **Affiliates and Third-Parties)** | **Maximum Compensation** |
| $5000000.00 | $588,850.00 (11.78%) | 9.25% |
| $10000000.00 | $852,700.00 (8.53%) | 8.0% |

---

To ensure adherence to fair compensation guidelines, DealMaker Securities will ensure that, in any scenario, the aggregate fees payable to DealMaker Securities and its affiliates (but excluding third-party expenses) shall never exceed the amounts set forth in the column entitled "Maximum Compensation".

If the Offering is fully subscribed, the maximum fees will be $800,000.

**DealMaker Securities LLC (and affiliate) Fees:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.** **<u>Advisory and Consulting Services Prior to Launch</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** $85,000 Advance (an advance
 against accountable expenses anticipated to be incurred, and refunded to extent not actually incurred, reimbursable to the issuer regardless
 of the termination of the offering or the receipt of the No Objection Letter, in compliance with FINRA Rule 5110(g)(4)).

Services may include:

Due Diligence Review

● Reviewing and performing due diligence on Issuer and Principals and consulting with Issuer regarding same

Consulting on Infrastructure for Self-Directed Electronic Road Show

● Consulting with Issuer on best business practices regarding raise in light of current market conditions and prior self-directed capital raises

● White-labeled platform customization to capture investor acquisition through the platform's analytic and communication tools

● Consulting with Issuer on question customization for investor questionnaire

● Consulting with Issuer on selection of webhosting services

● Consulting with Issuer on completing template for campaign page

● Advising Issuer on compliance of marketing material and other communications with the public with applicable legal standards and requirements

● Providing advice to Issuer on content of Form 1A and Revisions

● Advising Issuer on how to configure platform and link between prospective investors and the Issuer

● Assisting in the preparation of state, SEC and FINRA filings

● Working with the Client's SEC counsel in providing information to the extent necessary

Consulting on Marketing for Self-Directed Electronic Road Show

● Assign an experienced designer to assist the Issuer on messaging

● Providing expertise on pre-existing Issuer created assets

● Providing direction on the creation of additional Issuer assets

● Consulting with Issuer on the creation of assets for all paid media and email campaigns (i.e Google Ads, Advertising Partners, Social Platform advertising)

● Advising Issuer on website design and implementation

In the event that the Financial Industry Regulatory Authority ("**FINRA**") Department of Corporate Finance does not issue a no objection letter for the Offering, all DMS Fees are <u>fully refundable</u> other than services actually rendered in accordance with DMS standard hourly rates.

Page 2 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.** **<u>Regulatory Corporate Filing Fees</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** $2,000 for reimbursement of actual out of pocket costs and expenses related to regulatory Pass-through fee payable to DMS, from the Customer, who will then forward it to appropriate regulatory agencies in payment for the filing. These fees are due and payable prior to any submission by DMS to such agencies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**C.** **<u>Transaction Fees During the Offering:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.**  **<u>Advisory, Compliance and Consulting Services During the Offering: 1% cash (calculated monthly)</u>** 

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

● If necessary, discussions with the issuer regarding additional information or clarification on an issuer-invited investor;

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

● Reviewing each investor's subscription agreement to confirm such investor's participation in the offering and provide a recommendation to the company whether or not to accept the subscription agreement for the investor's participation;

● Contacting and/or notifying the company, if needed, to gather additional information or clarification on an investor;

● Providing a dedicated account manager;

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

● Consulting with Issuer regarding any material changes to the Form 1A which may require an amended filing; and

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

Fees are calculated as follows:

● One hundred (100) basis points on the aggregate amount accepted in the Offering, calculated based on the amount accepted into the Offering during the immediately preceding month.

**<u>DealMaker Technology Fees:\*</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.** **<u>Platform Hosting and Maintenance Fees:</u> $2,000 per month**

Includes:

● Full Analytics suite to track all aspects of the offering and manage the conversion of prospective investors into actual investors.

● Seats for up to 10 users (including legal, compliance, broker-dealer and transfer agent) Fees are payable at the beginning of each month

Page 3 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**B.** **<u>Transaction Fees</u>**

Includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** **General**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** $15 per electronic signature executed on DealMaker platform

**ii.** $15 per payment reconciled via DealMaker platform

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b.** **Payment Processing Fees**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** Secure Bank-to-Bank Payments (USD) - 2.00%

**ii.** Credit Card Processing - 4.50%

**iii.** Express Wires - 1.00%

**iv.** Per Investor Refund Fee - $50.00

**v.** Failed Payment Fee — $5.00

**vi.** Reconciliation Report - $250

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c.** **AML Searches** (required for Reg A offerings)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i.** AML Search (individual) — $2.50

**ii.** AML Search (corporate) — $25.00

**\*DealMaker Technology is provided by Novation Solutions Inc. O/A DealMaker. Customer hereby agrees to the terms set forth in the DealMaker Terms of Service linked [<u>here</u>].**

---

| | |
|:---|:---|
| */s/ jsoloway@carbonethic.io* | */s/ Rebecca Kacaba* |
| Authorized Representative (Customer) | Authorized Representative (Novation Solutions Inc.) |

---

**DealMaker Reach Fees (Marketing)\***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**A.** **<u>Self-Hosted Electronic Road Show Marketing Advisory and Consulting Services</u>**

**As per the Marketing Service Agreement, defined below, DealMaker Reach's efforts and terms of service include, but are not limited to:**

● Fixed Fees –

○ $12,000 per month during the engagement term (accrued and owing but payment may be deferred until Client receives first distribution from the Platform; thereafter, on a monthly basis),

○ Plus $6,000 per month during the engagement term (accrued and owing but payment may be deferred until six months past the date this agreement is signed for months one through six, and until 12 months past the date this agreement is signed for the months seven through 12.)

● Assisting the Issuer to implement conversion events and campaign tracking

● Consulting on landing page tests for conversion rate improvement

● Coordinate with Campaign Platform Provider to develop and optimize campaign page(s)

● Assisting the Issuer to integrate DealMaker webhooks to build investor funnel and tracking of investor progress/status

● Providing status reports on the individual campaign vehicles (e-mail, paid social, etc.)

● Ongoing monthly communication for updates, strategic planning, implementations, and execution of marketing budget.

**\*Marketing Services are provided by DealMaker Reach LLC. Customer hereby agrees to the terms set forth in the DealMaker Reach Terms of Service linked [<u>here</u>].**

---

| | |
|:---|:---|
| */s/ jsoloway@carbonethic.io* | */s/ Jonathan Stidd* |
| Authorized Representative (Customer) | Authorized Representative (DealMaker Reach LLC) |

---

Services DO NOT include providing any investment advice nor any investment recommendations to any investor.

Issuers may elect to levy an administrative fee for online purchasers in an amount to be determined by the issuer.

Page 4 of 10

Exhibit A

DealMaker Securities Terms

**Broker-Dealer Agreement**

These terms and conditions create a binding agreement by and between the customer who has signed the Order Form ("**Client**"), and DealMaker Securities LLC, a FINRA-registered Broker-Dealer ("**DMS**")(the "**Agreement**"). DMS is a registered broker-dealer providing services in the equity and debt securities market, including offerings conducted via SEC approved exemptions such as Reg D 506(b), 506(c), Regulation A+, Reg CF and others.

Client is offering securities directly to the public in an offering exempt from registration under either Regulation A or Regulation CF (the "**Offering**"). Client recognizes the benefit of having DMS provide advisory and other services as described herein, on the terms hereof.

1. Appointment, Term, and Termination

a. Client hereby engages and retains DMS to provide consulting, operations and compliance services at Client's discretion.

b. If Client elects to carry out a Regulation CF Offering, Client retains DMS to act as the Client's Intermediary for the Offering, as defined by 17 C.F.R. Part 227.

c. The Agreement will remain in effect for a period of the earlier of: 1) twelve (12) months from the signing of the Order Form ("**Term**") and will renew automatically for successive renewal terms of sixty (60) days prior to the expiration of the current term or 2) the closing of the Offering. If Client defaults in performing the obligations under this Agreement, the Agreement may be terminated (i) upon sixty (60) days written notice if Clients fails to perform or observe any material term, covenant, or condition to be performed or observed by it under this Agreement and such failure continues to be unremedied, (ii) upon written notice if any material representation or warranty made by Client proves to be incorrect at any time in any material respect, (iii) upon written notice, in order to comply with a legal requirement, if compliance cannot be timely achieved using commercially reasonable efforts, after providing as much notice as practicable, or, (iv) without limiting the foregoing, at any time if, after the commencement of DMS's due diligence of the Client, DMS believes that is not advisable to proceed with the contemplated Offering. If Client or DMS commences a voluntary proceeding seeking liquidation, reorganization or other relief, or is adjudged bankrupt or insolvent or has entered against it a final and unappealable order for relief, under any bankruptcy, insolvency, or other similar law, or either party executes and delivers a general assignment for the benefit of its creditors, the Agreement may be terminated upon thirty (30) days' written notice.

d. The termination of this Agreement as described herein shall not exclude the availability of any other remedies. Any delay or failure by either party to exercise, in whole or in part, any right, power, remedy or privilege shall not be construed as a waiver or limitation to exercise, in whole or in part, such right, power, remedy or privilege.

e. All terms of the Agreement, which should reasonably survive termination, shall survive, including, without limitation, confidentiality, limitations of liability and indemnities, arbitration and the obligation to pay Fees relating to Services provided prior to termination.

Page 5 of 10

**2.** **Services.** DMS will perform the services listed on the Order Form in connection with the Offering (the "**Services**").

**3.** **Fees.** As payment for the Services, Client shall pay to DMS such fees as described in the Order Form. Client authorizes DMS to deduct any fees owing directly from the Client's bank account or third- party escrow account (if applicable).

**4.** **Regulatory Compliance**

a. Client and all its third-party providers shall at all times (i) comply with direct requests of DMS: (ii) maintain all required registrations and licenses, including foreign qualification, if necessary; and (iii) pay all related fees and expenses (including the FINRA Corporate Filing Fee) in each case that are necessary or appropriate to perform their respective obligations under this Agreement. Client shall comply with and adhere to all DMS policies and procedures which shall be provided to Client.

b. Client and DMS will have shared responsibility for the review of all documentation related to the Offering but the ultimate discretion about accepting an Investor will be the sole decision of the Client. Each Investor will be considered to be that of the Client's and NOT DMS.

c. Client and DMS shall each supervise and train their respective employees, agents, representatives and independent contractors in the performance of functions allocated to them pursuant to the terms of this Agreement.

d. If either Client orDMS receives material communications (orally or in writing) from any Governmental Authority or Self-Regulatory Organization with respect to this Agreement or the performance of either party's obligations thereunder, the receiving party shall promptly provide said communications to the opposite party, unless such notification is expressly prohibited by the applicable Governmental Authority.

**5.** **Role of DMS.** Client acknowledges and agrees that Client relies on Client's own judgement in engaging DMS Services. Client understands and agrees that DMS (i) is not assuming any responsibility for the Client''s underlying business decision to pursue any business strategy or effect any Offering; (ii) makes no representations with respect to the quality of any investment opportunity in connection with the Offering (iii) does not guarantee the performance to or of any Investor in the Offering, (iv) does not guarantee the performance of any third party which provides services to DMS or Client with respect to the Offering,) (v) will make commercially reasonable efforts to perform the Services pursuant to this Agreement (vi) is not an investment adviser, does not provide investment advice and does not recommend securities transactions and any display of data or other information about the Offering, does not constitute a recommendation as to the appropriateness, suitability, legality, validity, or profitability of any Offering, (vii) Services in connection with this Agreement should not be construed as creating a partnership, joint venture, or employer-employee relationship of any kind, (ix) Services in connection with this Agreement that require registration as a FINRA/SEC registered broker-dealer shall be performed exclusively by DMS or an associated person of DMS , (x) is not providing any accounting, legal or tax advice, and (xi) will use "commercially reasonably efforts" to perform Services pursuant to this Agreement but that this shall not give rise to any express or implied commitment by DMS to purchase or place any of the Client's securities. <u>Client explicitly acknowledges that DMS shall not and is under no duty to recommend Client's security and DMS is not selling Client's security to retail investors</u>.

Page 6 of 10

**6.** **Indemnification**

a. <u>Indemnification by Client.</u> Client shall indemnify and hold DMS, its affiliates and their respective members, officers, directors and agents harmless from any and all actual or direct losses, liabilities, claims, demands, judgements, arbitrations awards, settlements, damages, and costs (collectively "**Losses**"), resulting from or arising out of any third party suits, actions, claims, demands, investigations or similar proceedings (collectively "**Claim**") to the extent they are based upon (i) a breach of this Agreement by Client, (ii) the wrongful acts or omissions of Client, or (iii) the Offering.

b. <u>Indemnification by DMS.</u> DMS shall indemnify and hold Client, Client's affiliates and Client's representatives and agents harmless from any Losses resulting from or arising out of Proceedings to the extent they are based upon (i) a breach of this Agreement by DMS or (ii) the wrongful acts or omissions of DMS or its failure to comply with any applicable federal, state, or local laws, regulations, or codes in the performance of its obligations under this Agreement.

c. <u>Indemnification Procedure.</u> If any Proceeding is commenced against a party entitled to indemnification under this section, prompt notice of the Proceeding shall be given to the party obligated to provide such indemnification. The indemnifying party shall be entitled to take control of the defense, investigation or settlement of the Proceedings and the indemnified party agrees to reasonably cooperate, at the indemnifying party's cost in ensuing investigations, defense or settlement. The indemnifying party shall reimburse the indemnified party for all expenses (including reasonable fees, disbursements and other charges of counsel) as they are incurred in connection with investigating, preparing, pursuing, defending, or settling a Claim (including without limitation any shareholder or derivative action); provided, however, that indemnifying party will not be liable to indemnify and hold harmless or reimburse an indemnified party pursuant to this paragraph to the extent that an arbitrator (or panel of arbitrators) or court of competent jurisdiction will have determined by a final non-appealable judgment that such Claim resulted from the gross negligence or willful misconduct of such indemnified party. The indemnifying party will not settle, compromise or consent to the entry of a judgment in any pending or threatened Claim unless such settlement, compromise or consent includes a release of the indemnified parties satisfactory to the indemnified parties.

d. <u>Indemnified Party Limitation Of Liability</u>. No indemnified party shall have any liability (whether direct or indirect, in contract, tort or otherwise) to the indemnifying party arising from or related to the Agreement or the Offering or any actions or inactions allegedly taken by the indemnified party in connection with the Agreement, except to the extent that an arbitrator (or panel of arbitrators) or a court of competent jurisdiction determines by a final non-appealable judgment that Losses resulted from the gross negligence or willful misconduct of such indemnified party. In no event shall the indemnified party be liable or obligated in any manner for any consequential, exemplary or punitive damages or lost profits incurred by the Client arising from or relating to the Agreement, an Offering, or any actions or inactions taken by an indemnified party in connection with the Agreement, and the Client agrees not to seek or claim any such damages under any circumstances.

e. <u>Insufficient Funding For A Claim.</u> If the foregoing indemnification or reimbursement is judicially determined to be unavailable or insufficient to fully indemnify and hold harmless DMS as an indemnified party against a Claim, the Client will contribute to the amount paid or payable by an indemnified party as a result of such Claim in such proportion as is appropriate to reflect the relative financial benefits of the Offering to the Company, on the one hand, and the indemnified party, on the other hand; or if such allocation is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits but also the relative fault of the Client on the one hand and the indemnified party on the other hand with respect to such Claim as well as any other relevant equitable considerations. Notwithstanding the preceding paragraphs, in no event will the aggregate amount to be contributed by all indemnified parties towards all Claims and Client losses, exceed the actual fees received by DMS pursuant to the Agreement.

Page 7 of 10

5. <u>Witness Reimbursement.</u> In the event that DMS or any of its employees, officers, directors, affiliates or agents are requested or required to appear as a witness or subpoenaed to produce documents in any action in which the Client or any of its affiliates is a party to and DMS is not, the Client will reimburse DMS for all expenses incurred by its employees, officers, directors, affiliates or agents in preparing for and appearing as a witness or producing documents, including the reasonable fees and disbursements of legal counsel.

7. <u>Notices.</u> Any notices required by the agreement shall be in writing and shall be addressed, and delivered via email at the email address included in the Order Form.

8. Confidentiality and Mutual Non-Disclosure:

a) <u>Included Information</u>. For purpose of this Agreement, the term "**Confidential Information**" means all non-public, confidential and/or proprietary information disclosed by one party to this Agreement ("**Disclosing Party**") to the other party ("**Receiving Party**"), including but not limited to (i) financial information, (ii) business and marketing plans, (iii) the names of employees and owners, (iv) the names and other personally identifiable information of customers (v) intellectual property, and (vi) all documentation provided by investors in the Offering.

b) <u>Excluded information.</u> For purposes of this Agreement, the term "Confidential nformation" shall not include (i) information already known to the Receiving Party prior to disclosure by the Disclosing Party, (ii) information independently developed by the Receiving Party without the use of any confidential and proprietary information, (iii) information known to the public through no wrongful act of the Receiving Party, (iv) information that becomes known to the Receiving Party from a third party not bound by a confidentiality obligation to the Disclosing Party.

c) <u>Confidentiality Obligations.</u> During the Term and at all times thereafter, Receiving Party shall not disclose Confidential Information of the Disclosing Party or use such Confidential Information for any purpose without the prior written consent of Disclosing Party. Each party shall use at least the same degree of care in safeguarding the other party's Confidential Information as it uses to safeguard its own Confidential Information. Notwithstanding the forgoing, a Receiving Party may disclose Confidential Information (i) if required to do by order of a court of competent jurisdiction, provided that Receiving Oarty shall notify the Disclsoing Oarty in writing promptly upon receipt of knowledge of such order so that Receiving Party may attempt to prevent such disclosure or seek a protective order, or (ii) as required by applicable law. Nothing contained herein shall be construed to prohibit the SEC, FINRA, or other government entities from obtaining, reviewing, and auditing any information, records, or data of either party containing Confidential Information.

d) <u>Disclosure and Retention Of Confidential Information.</u> DMS is hereby expressly permitted by Client to disclose Confidential Information to third parties involved in the Offering contemplated herein, provided that Client has been informed of such disclosure in advance and has approved such disclosure (either orally or in writing). DMS may retain one copy of the Client's Confidential Information to the extent necessary to comply with industry-specific document retention rules and other regulations, and in an archived computer backup system stored as a result of automated backup procedures for compliance purposes. Client acknowledges that regulatory record-keeping requirements, as well as securities industry best practices, require DMS to maintain copies of practically all data and communications, even after this Agreement is terminatedAgreement.

e) <u>Logo Display.</u> The Parties agree that the display of a Party's name or logo on a website or in connection with any marketing materials shall not be considered a disclosure of Confidential Information.

Page 8 of 10

9. Miscellaneous

a. These terms are non-exclusive and shall not be construed to prevent either party from engaging in any other business activities.

b. This Agreement shall be binding upon the parties hereto and their respective heirs, administrators, successors, and assigns. This Agreement may be modified or amended only by a written consent executed by the other party.

c. Either party may assign this Agreement to any person or entity that acquires all or substantially all of its business or assets, in which case the other party's consent shall not be unreasonably withheld. This includes an assignment to a subsidiary that an entity party may create or to a company affiliated with or controlled directly or indirectly by an entity party .

d. When Offering closes, Client agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) DMS, may prepare media materials of its choosing, at its own expense and in compliance with applicable regulations, describing DMS' Services in the Offering as described in this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Client issues a press release regarding the Offering, it shall include reference to DMS as the broker-dealer on the Offering.

With respect to the preparation of any other marketing or media materials either before or after Offering closes, Client and DMS will work together to authorize and approve in writing any additional co-branded notifications. press releases and/or Client facing communication materials regarding the representations in this Agreement.

e. This Agreement shall be construed in accordance with the laws of the State of New York without regard to conflict of laws principles. The parties submit to the jurisdiction of and venue in the federal courts located in the state of New York with respect to any dispute related to this Agreement and any Offering contemplated herein and waive their right to a jury trial (whether such disputes are based on contract, tort or otherwise.) Notwithstanding the above, the parties agree that ANY DISPUTE, CONTROVERSY, CLAIM OR CAUSE OF ACTION BETWEEN THE CLIENT AND DMS DIRECTLY OR INDIRECTLY RELATING TO OR ARISING OUT OF THIS AGREEMENT, OR BREACH THEREOF required or allowed to be conducted by the Financial Industry Regulatory Authority's ("FINRA") rules (including the FINRA Code of Arbitration Procedure for Industry Disputes) shall be arbitrated in accordance with such rules. Any arbitration shall be before a neutral arbitrator or panel of arbitrators selected under the FINRA Neutral List Selection System (or any successor system) and in a forum designated by the Director of FINRA Dispute Resolution or any member of FINRA Staff to whom such Director has delegated authority. In general accordance with FINRA Rule 2268, by signing an arbitration agreement the parties agree as follows:

(i) This Agreement contains a pre-dispute arbitration clause.

(ii) Except as otherwise provided in this Agreement, all parties to this Agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed.

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(iii) Arbitration awards are generally final and binding; a party's ability to have a court reverse or modify an arbitration award is very limited.

(iv) The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

(v) The arbitrators do not have to explain the reason(s) for their award unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date.

(vi) Any panel of arbitrators may include a minority of arbitrators who were or are affiliated with the securities industry.

(vii) The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court.

(ix) The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

(x) As provided in FINRA Rule 2268, no person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is decertified; or (iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.

f. The language used in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will be applied against any party. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement.

g. If any provision, term or condition of this Agreement is invalid, void or unenforceable by a court of competent jurisdiction, or a regulatory or self-regulatory agency or body by order or judgment not subject to review, the remaining provisions, terms and conditions shall not be affected and shall remain in full force and effect, and this Agreement shall be carried out as if any such invalid, void or unenforceable provisions, terms or conditions were not included in the Agreement.

h. This Agreement, along with the Order Form and applicable schedule of DMS fees, contains the entire agreement between the parties and supersedes any prior and collateral agreements, communications, understandings and negotiations relating to the subject matter herein. The Agreement may not be modified or amended except by written agreement executed by both parties.

i. Pursuant to the requirements of Title III of Pub. L. 107-56 (the USA Patriot Act), as amended (the "**Patriot Act**") and other applicable laws, rules and regulations, DMS is required to obtain, verify and record information that identifies the Client which information includes the name and address of the Client and other information that that allows DMS to identify the Client in accordance with the Patriot Act and other such laws, rules and regulations.

Page 10 of 10

## Add

**Exhibit 11.1**

**Consent of Assurance Dimensions, LLC** 

We consent to the use, in this Form 1-K, of our independent auditor's report dated October 29, 2022, with respect to the audited financial statements of EthicStream Inc., a Delaware corporation, as of September 30, 2022 and the related statements of operations, changes in stockholders' deficit, and cash flows for the period from April 28, 2022 through September 30, 2022, and the related notes to the financial statements.

---

| |
|:---|
| Very truly yours, |
| Assurance Dimensions |
| ![](ex11-1_001.jpg) |
| Tampa, Florida |
| February 1, 2023 |

---

## Add

**Exhibit 12.1**

Ross Law Group, pllc

1430 Broadway, Suite 1804

New York, NY 10018

United States

Tel: +1 212 884 9333

www.RossLawGroup.co

---

| | |
|:---|:---|
| **Gary J. Ross, Esq.** | **Email: Gary@RossLawGroup.co** |

---

February 2, 2023

EthicStream Inc.

500 West Putnam Avenue, Suite 400

Greenwich, CT 06830

---

| | |
|:---|:---|
| **Re:** | **EthicStream Inc. - Offering Statement on Form 1-A** |

---

Ladies and Gentlemen:

We have acted as counsel to EthicStream Inc., a Delaware corporation (the "**Company**"), in connection with the Company's offer and sale (the "**Offering**") of up to 1,000,000 shares of its Class A common stock, par value $0.0001 per share (the "**Shares**"), that are the subject of the Company's offering statement on Form 1-A (as amended, the "**Offering Statement**") filed by the Company with the U.S. Securities and Exchange Commission (the "**Commission**") pursuant to Regulation A ("**Regulation A**") under the Securities Act of 1933 (the "**Securities Act**"). The Shares are offered for sale to investors at a fixed price of $10.00 per Share.

In connection with the opinion expressed herein, we have examined the originals, or certified, conformed or reproduction copies, of all such agreements, instruments, documents and records as we have deemed relevant or necessary for purposes of such opinion, including, without limitation: (i) the Offering Statement; (ii) the certificate of incorporation and bylaws of the Company, each as amended to date; (iii) the form of subscription agreement included as an exhibit to the Offering Statement and relating to the Shares (the "**Subscription Agreement**"); and (iv) resolutions adopted by the board of directors of the Company (either at meetings or by unanimous written consent) approving the Company's filing of the Offering Statement and the Company's offer, sale and issuance of the Shares. In all such examinations, we have assumed the authenticity of all documents submitted to us as originals, the conformity (with the originals) of all documents submitted to us as copies, the genuineness of all signatures on the originals, and the legal competence of all signatories to the originals. As to various questions of fact relevant to our opinion, we have relied upon, and have assumed the accuracy of, certificates and oral or written statements and other information of or from public officials, officers or representatives of the Company, and others.

On the basis of the foregoing, and subject to the assumptions, qualifications and limitations set forth herein, we are of the opinion that the Shares are duly authorized and, when issued, delivered and paid for in the manner described in the Offering Statement and the Subscription Agreement, will be validly issued, fully paid and nonassessable.

The opinion expressed herein is limited to the General Corporation Law of the State of Delaware, as currently in effect, and no opinion is expressed with respect to any other laws or any effect that any such other laws may have on the opinion expressed herein.

This opinion letter has been prepared, and is to be understood, in accordance with the customary practice of lawyers who regularly give and regularly advise recipients regarding opinion letters of this kind, is limited to the matters expressly stated herein and is provided solely for purposes of complying with the requirements of Regulation A, and no opinions may be inferred or implied beyond the matters expressly stated herein. The opinion expressed herein speaks only as of the date hereof, and we specifically disclaim any responsibility to update it or supplement it to reflect any changes in law or of fact after the date hereof or to advise you of subsequent developments that may affect it.

We hereby consent to the filing of this opinion letter as an exhibit to the Offering Statement and each amendment thereto that relates to the Offering and to the reference to our firm under the caption "Legal Matters" in the offering circular constituting a part of the Offering Statement. In giving such consent, we do not thereby admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.

If you have any questions about this opinion letter, please do not hesitate to contact us.

---

| |
|:---|
| Sincerely yours, |
| */s/ Gary J. Ross, on behalf of Ross Law Group, PLLC* |
| Gary J. Ross, Esq. |

---

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

## FORM 1-A

### REGULATION A OFFERING STATEMENT
### UNDER THE SECURITIES ACT OF 1933

### Item 1. Issuer Information

**Exact name of issuer:** EthicStream Inc.

**Jurisdiction of Incorporation/Organization:** DE

**Year of Incorporation:** 2022

**CIK:** 0001955926

**I.R.S. Employer Identification Number:** 88-4119521

**Primary Standard Industrial Classification Code:** 8999

**Total number of full-time employees:** 5

**Total number of part-time employees:** 3

**Address of Principal Executive Offices:** 500 West Putnam Avenue, Suite 400, Greenwich, CT 06830

**Company Phone:** 4752782586

**Person to contact:** Gary J. Ross

### Financial Statements

**Balance Sheet Information**

| Metric                                   | Amount     |
|:---|:---|
| Cash and Cash Equivalents                | $0.00      |
| Investment Securities                    | $0.00      |
| Accounts and Notes Receivable            | $0.00      |
| Property, Plant and Equipment (PP&E)     | $0.00      |
| Total Assets                             | $0.00      |
| Accounts Payable and Accrued Liabilities | $106603.00 |
| Long-Term Debt                           | $0.00      |
| Total Liabilities                        | $106603.00 |
| Total Stockholders' Equity               | $106603.00 |
| Total Liabilities and Equity             | $0.00      |

**Statement of Comprehensive Income Information**

| Metric                                    | Amount      |
|:---|:---|
| Total Revenues                            | $0.00       |
| Costs and Expenses Applicable to Revenues | $0.00       |
| Depreciation and Amortization             | $0.00       |
| Net Income                                | $-106603.00 |
| Earnings Per Share - Basic                | 0.00        |
| Earnings Per Share - Diluted              | 0.00        |

**Auditor Information**

| Metric          | Amount                    |
|:---|:---|
| Name of Auditor | Assurance Dimensions, LLC |

### Outstanding Securities

| Class                |   Outstanding |     CUSIP | Publicly Traded   |
|:---|---:|---:|:---|
| Class B Common Stock |       5356000 | 000000000 | None              |
| Convertible note     |        250000 | 000000000 | None              |

### Item 2. Issuer Eligibility
- [x] The issuer certifies that all of the statements in this part are true.

### Item 3. Application of Rule 262
- [x] The issuer certifies that it is not disqualified and has not been involved in any disqualifying event.

### Item 4. Summary Information Regarding the Offering

**Tier:** Tier2

**Financial Statement Status:** Audited

**Type of Securities Offered:** Equity (common or preferred stock)

**Is this a delayed or continuous offering?** Yes

**Was or is the offering to take place within one year after qualification?** No

**Was or is the offering to commence within two days after qualification?** No

**Is this a best efforts offering?** Yes

**Was there any solicitation of interest?** No

**Are there any resale securities by affiliates of the issuer?** No

**Offering Amounts**

| Description                                                     | Amount       |
|:---|:---|
| Number of securities offered                                    | 1000000      |
| Number of securities outstanding                                | 0            |
| Price per security                                              | $10.00       |
| Issuer's aggregate offering price                               | $10000000.00 |
| Aggregate offering price of securities held by security holders | $0.00        |
| Aggregate price of securities offered concurrently              | $0.00        |
| Total aggregate offering price                                  | $10000000.00 |

**Anticipated Fees**

| Service Provider   | Name                      | Fees      |
|:---|:---|:---|
| Auditor            | Assurance Dimensions, LLC | $3500.00  |
| Legal              | Ross Law Group, PLLC      | $65000.00 |
| Promoters          | NA                        | $0.00     |

**Estimated Net Proceeds to the Issuer:** $9556500.00

### Item 5. Jurisdictions in Which Securities are to be Offered

AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, DC, PR, A0, A1, A2, A3, A4, A5, A6, A7, A8, A9, B0, Z4

### Item 6. Unregistered Securities Issued or Sold Within One Year

**Name of Such Issuer:** EthicStream Inc.

**Title of Securities Issued:** Class B Common Stock

**Total Amount of Securities Issued:** 5356000

**Amount of such securities sold by principal security holders:** 5356000

**Aggregate consideration:** $535.60 (fair market value at time of founding, as established by the board of directors)

**Basis for aggregate consideration:** $535.60

**Securities Act Exemption:** Rule 506(b)