# EDGAR Filing Document

**Accession Number:** 0002050338
**File Stem:** 0001213900-25-066182
**Filing Date:** 2025-7
**Character Count:** 1331795
**Document Hash:** e4ab5b1f6b0658c557fe59c3ec953131
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-066182.hdr.sgml**: 20250721

**ACCESSION NUMBER**: 0001213900-25-066182

**CONFORMED SUBMISSION TYPE**: S-1

**PUBLIC DOCUMENT COUNT**: 32

**FILED AS OF DATE**: 20250721

**DATE AS OF CHANGE**: 20250721

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Collab Z Inc.
- **CENTRAL INDEX KEY:** 0002050338
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE [6500]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 993072058
- **STATE OF INCORPORATION:** NV

**FILING VALUES:**
- **FORM TYPE:** S-1
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288817
- **FILM NUMBER:** 251137787

**BUSINESS ADDRESS:**
- **STREET 1:** 29 ORINDA WAY, #536
- **CITY:** ORINDA
- **STATE:** CA
- **ZIP:** 94563
- **BUSINESS PHONE:** 925-577-9068

**MAIL ADDRESS:**
- **STREET 1:** 29 ORINDA WAY, #536
- **CITY:** ORINDA
- **STATE:** CA
- **ZIP:** 94563

**As filed with the Securities and Exchange Commission on July 21, 2025.**

**Registration No. 333-[●]**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549** 

**FORM S-1**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**COLLAB Z INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **6500** | **99-3072058** |
| (State or other jurisdiction of<br> incorporation or organization) | (Primary Standard Industrial<br> Classification Code Number) | (I.R.S. Employer<br> Identification Number) |

---

**29 Orinda Way, Unit 2060**

**Orinda, California 94563**

**Tel: (341) 202-5530**

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

**Qiaojun Lai**

**29 Orinda Way, Unit 2060**

**Orinda, California 94563**

**Tel: (341) 202-5530**

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;***Copies to:*** | &nbsp;&nbsp;***Copies to:*** |
| &nbsp;&nbsp;**Ross D. Carmel, Esq.**<br> **Matt Siracusa, Esq.**<br> **Sichenzia Ross Ference Camel LLP<br> 1185 Avenue of the Americas, 31<sup>st</sup> Floor**<br> **New York, NY 10036**<br> **Telephone: (212) 930-9700**<br> **Facsimile: (212) 930-9725** | &nbsp;&nbsp;**Lawrence Metelitsa, Esq.**<br> **Soyoung Lee, Esq.**<br> **Lucosky Brookman LLP**<br> **101 Wood Avenue South, 5th Floor**<br> **Woodbridge, NJ 08830**<br> **Telephone: (732) 395-4400** |

---

**Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective.**

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

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

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

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

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

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

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

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

**EXPLANATORY NOTE**

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

● *<u>Public Offering Prospectus.</u>* A prospectus to be used for the initial public offering (the "Public Offering Prospectus") of up to 1,250,000 shares of common stock <sup>(1)</sup>, with such shares of common stock to be sold in a firm commitment underwritten offering through the underwriters named on the cover page of the Public Offering Prospectus.

● *<u>Resale Prospectus.</u>* A prospectus to be used for the resale by the selling stockholders (the "Selling Stockholders" set forth in the section of the resale prospectus (the "Resale Prospectus") entitled "Selling Stockholders" of an aggregate of 100,000 shares of common stock.

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

● they contain different outside and inside front covers and back covers;

● they contain different "*Offering*" sections in the "*Prospectus Summary*" section beginning on page Alt-1;

● they contain different "*Use of Proceeds*" sections on page Alt-8;

● the "*Capitalization*" and "*Dilution*" sections from the Public Offering Prospectus are deleted from the Resale Prospectus;

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

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

● the "*Legal Matters*" section in the Resale Prospectus on page Alt-10 deletes the reference to counsel for the underwriters.

The Company has included in this registration statement a set of alternate pages after the back cover page of the Public Offering Prospectus (the "Alternate Pages") to reflect the foregoing differences in the Resale Prospectus as compared to the Public Offering Prospectus. The Public Offering Prospectus will exclude the Alternate Pages and will be used for the initial public offering by the Company. The Resale Prospectus will be substantively identical to the Public Offering Prospectus except for the addition or substitution of the Alternate Pages, and such other changes as may be necessary to clarify references to the initial public offering or the resale offering and will be used for the resale offering by the Selling Stockholders.

(1) Assumes the underwriters'
 45-day option to purchase up to 15% additional shares of common stock to cover over-allotments if any, has not been exercised.

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

---

| | | |
|:---|:---|:---|
| **PRELIMINARY PROSPECTUS** | **SUBJECT TO COMPLETION** | **DATED JULY 21, 2025** |

---

**COLLAB Z INC**

**1,250,000 Shares of Common Stock**

This is an initial public offering of 1,250,000 shares of our common stock, par value $0.001 per share. We currently expect the initial public offering price to be $4.00 per share. Before this offering, there has been no public market for shares of our common stock. We have applied to have the shares of common stock listed on The Nasdaq Capital Market, or Nasdaq, under the symbol "CLBZ." If shares of our common stock are not approved for listing on Nasdaq, we will not consummate this offering. No assurance can be given that our application will be approved.

In addition the selling stockholders (the "Selling Stockholders") are offering an aggregate of 100,000 shares of our common stock to be sold pursuant to a separate resale prospectus (the "Resale Prospectus"). We will not receive any proceeds from the sale or other disposition of shares of common stock by the Selling Stockholders. The Selling Stockholders will bear all commissions and discounts, if any, attributable to the sale or other disposition of the shares of common stock. We will bear all costs, expenses and fees in connection with the registration of the Selling Stockholders' shares. No resales of shares of common stock covered by the Resale Prospectus shall occur until the shares of common stock sold in our initial public offering begin trading on The Nasdaq Capital Market. The Selling Stockholders will comply with any lock-up obligations that are required by the underwriters in connection with the Company's initial public offering.

The Company currently has 5,000 shares of Series X Preferred Stock, par value $0.001 per share (the "Series X Preferred Stock") issued and outstanding, all of which are owned by YRQ Irrevocable Trust ("YRQ Trust"). Each share of Series X Preferred Stock is entitled to 1,000 votes on all matters on which our common stock is entitled to vote, except as otherwise prohibited by law. Other than the Series X Preferred Stock's voting rights, the Series X Preferred Stock is not entitled to any rights which would supersede the rights of our common stockholders. As a result of YRQ Trust's ownership of 5,000 shares of Series X Preferred Stock, YRQ Trust is entitled to an aggregate of 5 million votes on all matters our common stock is entitled to vote on except as otherwise prohibited by law or as otherwise prohibited by the rules and regulations of any exchange on which the Company's common stock is listed, or shall be listed. The trustees and beneficiaries of YRQ Trust are immediate family members of our founder and former Chairman, Mr. Qian Wang. Because Mr. Qian Wang, directly and indirectly, through his related entities and entitles controlled by immediate family members, including YRQ Trust, will together, as a group (collectively, the "Controlling Group"), hold approximately 67.03% of the voting power of our common stock upon the closing of this offering, we will be a "controlled company" under the corporate governance rules of Nasdaq assuming the underwriters do not exercise their over-allotment. However, we do not currently expect to rely upon the "controlled company" exemptions.

We are an emerging growth company under the federal securities laws and as such, we have elected to take advantage of certain reduced public company reporting requirements for this prospectus and future filings. See "*Prospectus Summary—Implications of Being an Emerging Growth Company*" for additional information.

**Investing in our securities involves a high degree of risk. See "*Risk Factors*" beginning on page 14 of this prospectus for a discussion of information that should be considered in connection with an investment in our securities.** 

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.** 

---

| | | |
|:---|:---|:---|
|  | **Per<br> Share** | **Total** |
| Initial public offering price | $| $|
| Underwriting discounts and commissions <sup>(1)</sup> | $| $|
| Proceeds, before expenses, to us <sup>(2)</sup> | $| $|

---

(1) Represents underwriting
 discounts equal to seven and one quarter percent (7.25%) per share (or $[●] per share), which is the underwriting discounts
 we have agreed to pay on investors in this offering introduced by the underwriters. We have also agreed to issue warrants to the
 Representative of the underwriters exercisable in the aggregate for up to such number of shares as is equal to 4% of the number of
 shares sold in this offering, at a price equal to 110% of the public offering price (the "Representative's Warrants"),
 to reimburse the underwriters for certain expenses and to provide the representatives a non-accountable expense allowance equal to
 1.0% of the gross proceeds of this offering. See "*Underwriting*" for additional information regarding compensation
 payable to the underwriter.

(2) The amount of offering
 proceeds to us presented in this table does not give effect to the exercise of (i) the over-allotment option issued to the underwriters
 or (ii) the Representative's Warrants.

This offering is being conducted on a firm commitment basis. The underwriters are obligated to take and purchase all of the shares of common stock offered under this prospectus if any such shares are taken.

We have granted a 45-day option to the underwriters to purchase up to 187,500 additional shares of common stock, representing 15% of the shares of common stock sold in this offering, solely to cover over-allotments, if any. If the underwriters exercise the option in full, the total proceeds to us, less underwriting discounts, commissions and non-accountable expenses payable, will be $4.8 million, based on an assumed public offering price of $4.00 per share.

Delivery of the shares of common stock is expected to be made on or about ______ , 2025.

*Sole Book-Running Manager*

**R.F. Lafferty & Co., Inc.**

The date of this prospectus is _________, 2025.

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **Page** |
| [CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS](#a_001) | ii |
| [PROSPECTUS SUMMARY](#a_002) | 1 |
| [RISK FACTORS](#a_003) | 14 |
| [USE OF PROCEEDS](#a_004) | 39 |
| [DIVIDENDS AND DIVIDEND POLICY](#a_005) | 39 |
| [CAPITALIZATION](#a_006) | 40 |
| [DILUTION](#a_007) | 42 |
| [MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](#a_008) | 43 |
| [BUSINESS](#a_009) | 54 |
| [MANAGEMENT](#a_010) | 67 |
| [EXECUTIVE COMPENSATION](#a_011) | 72 |
| [CURRENT RELATIONSHIPS AND RELATED PARTY TRANSACTIONS](#a_012) | 73 |
| [SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT](#a_013) | 80 |
| [DESCRIPTION OF SECURITIES](#a_014) | 81 |
| [SHARES ELIGIBLE FOR FUTURE SALE](#a_015) | 85 |
| [MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS](#a_016) | 87 |
| [UNDERWRITING](#a_017) | 91 |
| [LEGAL MATTERS](#a_018) | 97 |
| [EXPERTS](#a_019) | 97 |
| [WHERE YOU CAN FIND MORE INFORMATION](#a_020) | 97 |
| [FINANCIAL STATEMENTS](#a_021) | F-1 |

---

**You should rely only on the information contained in this prospectus. We and the underwriters have not authorized anyone to provide you with additional information or information different from that contained in this prospectus. We are not making an offer of these securities in any state or other jurisdiction where the offer is not permitted. The information in this prospectus may only be accurate as of the date on the front of this prospectus regardless of the time of delivery of this prospectus or any sale of our securities.**

**No person is authorized in connection with this prospectus to give any information or to make any representations about us, our common stock hereby or any matter discussed in this prospectus, other than the information and representations contained in this prospectus. If any other information or representation is given or made, such information or representation may not be relied upon as having been authorized by us. This prospectus does not constitute an offer to sell, or a solicitation of an offer to buy our securities in any circumstance under which the offer or solicitation is unlawful. Neither the delivery of this prospectus nor any distribution of our securities in accordance with this prospectus shall, under any circumstances, imply that there has been no change in our affairs since the date of this prospectus.**

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

Unless otherwise indicated, information in this prospectus concerning economic conditions, our industries, and our markets is based on a variety of sources, including information from third-party industry analysts and publications and our estimates and research. This information involves a number of assumptions, estimates, and limitations. The industry publications, surveys and forecasts, and other public information generally indicate or suggest that their information has been obtained from sources believed to be reliable. None of the third-party industry publications used in this prospectus were prepared on our behalf. The industries in which we operate are subject to a high degree of uncertainty and risk due to a variety of factors, including those described in "*Risk Factors*" in this prospectus. These and other factors could cause results to differ materially from those expressed in these publications.

i

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

This prospectus contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts are forward-looking statements. The forward-looking statements are contained principally in, but not limited to, the sections entitled "*Prospectus Summary*," "*Risk Factors*," "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" and "*Business*." These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to, statements about:

● the effect of and uncertainties related the ongoing volatility in interest rates;

● our ability to achieve and maintain profitability in the future;

● the impact on our business of the regulatory environment and complexities with compliance related to such environment;

● our ability to respond to general economic conditions;

● our ability to manage our growth effectively and our expectations regarding the development and expansion of our business;

● our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth;

● our ability to grow market share in existing markets or any new markets we may enter;

● our ability to develop new products, features and functionality that are competitive and meet market needs;

● our ability to realize the benefits of our strategy, including our financial services and platform productivity;

● our ability to make accurate credit and pricing decisions or effectively forecast our loss rates;

● our ability to establish and maintain an effective system of internal controls over financial reporting;

● our ability to maintain the listing of our securities on Nasdaq;

● sales of our common stock by us or our stockholders, which may result in increased volatility in our stock price;

● the outcome of any legal or governmental proceedings that may be instituted against us; and

● other factors detailed under the section titled "*Risk Factors*."

In some cases, you can identify forward-looking statements by terms such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under the heading "*Risk Factors*" and elsewhere in this prospectus. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this prospectus, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.

ii

**MARKET DATA**

The market data and certain other statistical information used throughout this prospectus are based on independent industry publications, governmental publications, reports by market research firms or other independent sources that we believe to be reliable sources. Industry publications and third-party research, surveys and studies generally indicate that their information has been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. We are responsible for all of the disclosures contained in this prospectus, and we believe these industry publications and third-party research, surveys and studies are reliable. While we are not aware of any misstatements regarding any third-party information presented in this prospectus, their estimates, in particular, as they relate to projections, involve numerous assumptions, are subject to risks and uncertainties, and are subject to change based on various factors, including those discussed under the section entitled "Risk Factors" and elsewhere in this prospectus. Some data are also based on our good faith estimates.

iii

**TRADEMARKS**

We own or have rights to various trademarks, service marks and trade names that we use in connection with the operation of our business. This prospectus may also contain trademarks, service marks and trade names of third parties, which are the property of their respective owners. Our use or display of third parties' trademarks, service marks and trade names or products in this prospectus is not intended to, and does not imply a relationship with, or endorsement or sponsorship by, us. Solely for convenience, the trademarks, service marks and trade names referred to in this prospectus may appear without the®,™ or <sup>SM</sup> symbols, but the omission of such references is not intended to indicate, in any way, that we will assert, to the fullest extent under applicable law, our rights or the right of the applicable owner of these trademarks, service marks and trade names.

iv

**PROSPECTUS SUMMARY**

 

*This summary highlights selected information contained in other parts of this prospectus. Because it is a summary, it does not contain all of the information that you should consider before investing in shares of our common stock and it is qualified in its entirety by, and should be read in conjunction with, the more detailed information appearing elsewhere in this prospectus. You should read the entire prospectus carefully, especially "Risk Factors," "Special Note Regarding Forward-Looking Statements," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our financial statements and the related notes, before deciding to invest in shares of our common stock. Unless the context requires otherwise, the words "we," "us," "our," "Company" and "Collab Z" refer collectively to Collab Z Inc., a Nevada corporation, and its affiliated entities.* 

 

**Overview**

Collab Z Inc., through its subsidiary, Collab CA LLC, has developed its pioneering Collab Platform, a first-of-its-kind Community-Based Property Management model that is designed to replace traditional property management practice by enabling community involvement and by leveraging modern technology, including artificial intelligence features currently under development. Our approach actively involves tenants and other skilled community members in the management process, handling leasing and daily operations in a way that minimizes conflicts of interest and improves tenant satisfaction. With a four-year lead over new market entrants and the ability to scale instantly without local staffing, Collab Z uniquely positions itself against both traditional property management firms and SaaS-based PropTech competitors.

Our mission is to democratize property management and to foster a more engaged community of tenants, property owners, and professional service providers to maximize asset value and to create a sustainable, decentralized organization that benefit all stakeholders involved.

Our vision is to revolutionize the real estate sector by maximizing community engagement in their living and working spaces for an autonomous and collaborative living experience.

We are committed to innovation, focusing on delivering substantial long-term value to our shareholders and improving the quality of life for our property owners, tenants, Community Pros, or CPs, and professional service providers. As we expand, our Collab Platform will continue to lead the shift towards a more connected and engaged property management ecosystem.

**<u>The Current Industry Challenges, Our Solution, and Our Opportunity</u>**

The Challenge

The property management industry faces longstanding inefficiencies and high costs due to outdated value chain structures. Collab Z has identified key pain points and opportunities for transformation:

&nbsp;&nbsp;&nbsp;&nbsp;1. Inefficiency in Traditional
 Models: Legacy property management structures are bloated with excessive layers of human oversight and reliance on third-party service
 providers. This increases management costs, creates long lead times, reduces transparency, and often results in misaligned interests
 between stakeholders.

&nbsp;&nbsp;&nbsp;&nbsp;2. Low Tenant Satisfaction:
 Traditional systems overlook the potential contributions of tenants who are willing to assist with routine tasks, such as communications,
 minor repairs, maintenance requests, and leasing coordination. This underutilization contributes to lower tenant satisfaction, higher
 turnover rates, and poorly maintained properties.

&nbsp;&nbsp;&nbsp;&nbsp;3. Scalability Challenges:
 Traditional models struggle to scale across multiple properties and regions due to their dependence on local staffing and manual
 processes. This increases operational complexity and limits growth opportunities.

&nbsp;&nbsp;&nbsp;&nbsp;4. Lag in Technology Adoption:
 Compared to other industries, property management has been slow to adopt disruptive technologies that could overhaul outdated operational
 models. This presents a significant opportunity for innovation.

**Our Solution**

Collab Z has developed its Collab Platform, a community-based property management solution that directly connects tenants with property management tasks, offering them financial incentives to contribute to their living environment and foster stronger community connections. AI-enhanced features for our Collab Platform are currently under development, with phased launches planned over an 18-month period starting in early 2025.

Our model enhances occupancy rate, eliminates unnecessary management layers, reduces operating expenses, and improves tenant satisfaction by delivering responsive services through Community Pros and professional service providers. Also, the Collab Platform enables faster entry into new market without building local teams.

As part of this model, Community Pros ("CPs") are tenants who assist with property management tasks, such as leasing showings, minor repairs, administrative work, and customer support in exchange for financial incentives.

For repair and maintenance tasks requiring specialized expertise, professional service providers (licensed contractors such as HVAC, plumbing, and electrical repair specialists) handle the work.

CPs play a coordination and communication role, similar to property managers, contacting professional service providers, scheduling service appointments, and ensuring that repairs are completed as expected in a timely manner.

**Our Opportunity**

According to IBIS World, the property management industry reached $128.3 billion in revenue by the end of 2024, growing at a CAGR of 2.0%. As the first community-based property management solution, Collab Z is positioned to revolutionize this massive market.

With over 300,000 property management companies and 20 million rental properties in the U.S. (Sources: Truelist, February 2024; Rubyhome, August 2023), the opportunity for disruption is immense. The Collab Platform is designed to:

● Streamline operations

● Enhance tenant engagement

● Maximize property value

By applying a community-driven model and planning the integration of AI-powered features currently under development, Collab Z addresses longstanding inefficiencies while scaling across the nation's extensive rental property network.

**Business Model**

As the company grows its property management portfolio and enters new markets, these efforts serve as a bridge between the company's current business model and its future business model, which prioritizes scalability, efficiency, and community engagement through the Collab Platform.

**Current Business Model**

The current business model reflects Collab Z's foundational operations, encompassing Property Management Services, Development and Construction Management Businesses, procurement, Renovation Management, and EB-5 Immigration Investor Services.

&nbsp;&nbsp;&nbsp;&nbsp;1. Property Management Services

Collab Z operates as a full-service property management provider, engaging the tenants to manage the day-to-day operations of rental properties. This includes leasing, vendor coordination, and property maintenance.

Leasing Process:

● Tenant-Led Property Showings: Tenants actively participate in the leasing process by hosting property tours for prospective tenants. Their participation is tracked on the Collab Platform, and they are compensated accordingly, promoting active involvement and accountability.

Vendor Coordination:

● Tenant-Initiated Vendor Engagement: Tenants play a coordination role, similar to property managers, contacting professional service providers, scheduling service appointments, and ensuring that repairs are completed in a timely manner.

Property Maintenance Services:

● Task Claiming & Execution: Tenants can claim and complete repair & maintenance tasks such as minor maintenance requests, cleaning of common areas, and handling of packages.

● Automated Compensation: The platform ensures that tenants are promptly compensated for their services, with instant payments processed for completed tasks, fostering a culture of efficiency and fairness.

This innovative approach utilizes the Collab Platform and integrates tenants as CPs, transforming traditional management structures into a decentralized, tenant-driven system that enhances efficiency and cost-effectiveness.

Revenue is generated through a fixed percentage of monthly lease income, fees for managing property-related expenses like repairs and maintenance, and commissions on new lease agreements. Certain properties also feature a profit-sharing model, where Collab Z earns a share of the rental income above guaranteed thresholds.

&nbsp;&nbsp;&nbsp;&nbsp;2. Development and Construction
 Management

The Company oversees development and construction projects, ensuring timely completion within budget. These services contribute to property value enhancement, with development fees recognized monthly over the service period. Collab utilizes its extensive industry experience and resources to provide comprehensive professional services to multifamily developers, particularly in markets where it has a well-established presence.

Since early 2022, Collab Z has been engaged in the construction management of a new development at 1773 Oxford Street, Berkeley, California. This project is a 5-story, 24-unit student housing property with 81 beds, with a total estimated development cost of $20.5 million. Construction commenced in October 2022 and was completed in May 2025. In this role, Collab Z provides multiple services:

● Design Consulting: Collab advises on unit types, furniture layouts, public areas, building material selections, and amenities to ensure they align with leasing and operational strategies, utilizing insights from tenant community user studies.

● Procurement Consulting: Collab assists with sourcing and importing building materials from international markets, such as China and Malaysia, achieving significant cost reductions averaging 45%.

● Pre-Operating Consulting: Services include rental pricing recommendations, leasing preparations, pre-leasing marketing, and operational license applications, often leveraging Collab's extensive community resources.

Further expanding its portfolio, Collab Z began providing similar consulting services on January 1, 2025, for another significant project located at 2425 Durant Avenue, Berkeley, California. Planned as a 20-story student housing building with 169 units and 513 beds, this project covers 145,920 square feet and is currently in the entitlement process, with an anticipated completion date of April 2028.

Material Terms of Agreements and Related Risks:

● For both projects, Collab's base fees are structured to be paid either monthly or upon completion of specific services.

● There are provisions allowing Collab to terminate the agreements if fees remain unpaid for more than 30 days.

● Performance-based bonuses are subject to the discretion of the developers and owners, posing a risk of non-full payment if the bonus exceeds initial calculations.

● As a consultant during the development phase, Collab does not bear responsibility for financial performance, construction quality, or the completion schedule of the projects. Decision-making authority rests with each project's respective developer and owner.

&nbsp;&nbsp;&nbsp;&nbsp;3. Procurement Services

Collab Z facilitates the sourcing of construction materials, particularly from international suppliers, streamlining procurement for property owners. Fees are recognized upon the completion of the service.

&nbsp;&nbsp;&nbsp;&nbsp;4. Renovation Management

Collab Z manages property acquisition, renovation, and disposition projects, generating fees recognized throughout the project duration and upon specific milestones. This service ensures properties meet market demands and achieve maximum value.

&nbsp;&nbsp;&nbsp;&nbsp;5. EB-5 Immigration Investor
 Services

The Company identifies EB-5 investment projects and assists investors with project selection, compliance documentation, and support during the application process. Revenue is recognized upon submission of the EB-5 application package.

&nbsp;&nbsp;&nbsp;&nbsp;6. Consulting Services

The Company provides consulting services to third parties that are defined by service agreements. Consulting services may include terms whereby there are a set of deliverables required for which revenue will be recognized at a point in time when the deliverables are satisfied, or may relate to services that are performed periodically and recognized over time. Each contract is assessed for performance obligations. There is generally no right of return or refund related to these services.

 

*Related Party Relationships* 

A significant aspect of our current business model is that a majority of our revenue, accounting for 63% in 2024, is derived from related parties. The nature of these relationships primarily involves properties under common control and management, for which Collab Z provides property management, development, renovation and procurement services to individual. Revenue from these services is recognized according to the progress and completion of specified tasks. Transactions with these related parties are conducted under terms that are revisited periodically to align with market practices and ensure compliance with regulatory standards. While these relationships contribute to our revenue streams, they are managed with careful consideration to maintain transparency and independence in our operations. As Collab Z evolves, our focus on refining our community-based property management services will continue alongside a review and potential adjustment of our involvement in transactions with related parties. See "*Current Relationships And Related Party Transactions*" for a more detailed discussion.

**Future Business Model**

As Collab Z evolves, we will transition toward a more focused and scalable operational model, emphasizing community-based property management as the core business, while scaling down other activities such as development, renovation management, and EB-5 services. This pivot reflects the Company's strategic emphasis on long-term sustainability and market differentiation through its Collab Platform.

In the fiscal year 2024, our revenue streams were diversely distributed across several business units. Property management, which is becoming our primary focus, contributed 31% to our total revenue. Development and construction management accounted for 5%, procurement services constituted 13%, renovation management made up 14%, and EB-5 immigration investor services contributed 37% of our revenue.

Reflecting our strategic refocus, we plan to phase out EB-5 Immigration Investor Services within the next year. This decision aligns with our strategy to concentrate resources and expertise on enhancing our core property management services, responding to changes in market demand and regulatory landscapes. While development, renovation, and procurement services currently contribute to our diversified revenue streams, we plan to significantly scale down these activities. Over the next two years ,we expect their combined contributions to revenue will make up a less significant portion of revenue as we focus on property management services.

We have also entered into five separate limited liability company agreements (collectively, the "Joint Venture Agreements") with five unaffiliated entities to form joint venture companies in Nevada, wherein we hold 40% ownership stake in each joint venture company. Each joint venture was established to pursue property management and related real estate activities in specific local markets using our community-based property management platform. These entities operate independently and are owned jointly by us and our respective joint venture partners.

Under each Joint Venture Agreement, we contributed our technology platform, branding rights, and management expertise, while our partners provided capital contributions, local operational support, and access to regional property opportunities. The joint ventures reflect our strategic focus on scaling up by expanding our property management footprint through local partnerships that leverage our Collab platform.

This pivot underscores our commitment to sustainability and efficiency, leveraging our proprietary platform to enhance property management services. By concentrating on our core competencies, we aim to strengthen our market position and ensure long-term growth and profitability. The outlined changes reflect a deliberate strategy to optimize our business operations and focus on areas with the highest growth potential and alignment with our long-term strategic goals. Detailed plans for this transition are subject to ongoing review by our management team to ensure alignment with evolving market conditions and company objectives.

**Listing on the Nasdaq Capital Market**

In connection with this offering, we have applied to list our common stock on the Nasdaq Capital Market under the symbol "CLBZ." If Nasdaq approves our listing application, we expect to list our common stock and consummate this offering. Nasdaq's listing requirements for the Nasdaq Capital Market include, among other things, a stock price threshold. If Nasdaq does not approve our application and the listing of our common stock, we will not proceed with this offering. There can be no assurance that our common stock will be listed on Nasdaq.

**Recent Developments**

***Series B Private Placement***

 ****

Pursuant to a Certificate of Designation filed with the Secretary of State of Nevada on June 5, 2025, we are authorized to issue up to 1,250,000 shares of Series B Preferred Stock with a stated value of $4.00 per share. As of the date of the prospectus, we have sold an aggregate of 200,000 shares of Series B Preferred Stock, consisting of:

● 75,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $300,000 pursuant to a securities purchase agreement dated May 27, 2025;

● 25,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $100,000 pursuant to a securities purchase agreement, dated June 24, 2025;

● 25,000 and 37,500 shares of Series B Preferred Stock to two accredited investors, for an aggregate purchase price of $100,000 and $150,000, respectively, pursuant to securities purchase agreements, dated July 7, 2025;

● 37,500 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $150,000 pursuant to a securities purchase agreement, dated July 9, 2025.

 **

***Joint Ventures***

 **

In March and April 2025, we entered into, the Joint Venture Agreements with five unaffiliated entities to form joint venture companies in Nevada, wherein we hold 40% ownership stake in each joint venture company. For four of the five joint venture agreements, the Company issued 10,000 shares of common stock for each joint venture entity, which valued $20,000 under the price of $2.00 per share, as part of the capital funding for the joint venture. For the remaining agreement, the Company issued 20,000 shares of common stock for the joint venture entity, which valued $40,000 under the price of $2.00 per share of our common stock, as part of the capital funding for the joint venture. Each joint venture was established to pursue property management and related real estate activities in specific local markets using our community-based property management platform. These entities operate independently and are owned jointly by us and our respective joint venture partners.

Under each Joint Venture Agreement, we contributed our technology platform, branding rights, and management expertise, while our partners provided capital contributions, local operational support, and access to regional property opportunities. Each joint venture company is governed by its own operating agreement, which includes customary provisions relating to management responsibilities, capital contributions, profit and loss allocations, and dissolution rights.

The joint ventures reflect our strategic focus on scaling up by expanding our property management footprint through local partnerships that leverage our Collab platform.

**Our Corporate History and Structure** 

We were incorporated in Nevada on May 10, 2024, for the purpose of reorganizing our structure and to become the holding company for Collab LLC.

In September 2024, we issued an aggregate of 5,060,391 shares of our common stock in a private placement to certain initial investors pursuant to certain securities purchase agreements dated September 16, 2024 (the "Private Placement"), including an aggregate of 2,656,000 shares of common stock to the Controlling Group, comprised of 2,462,500 shares issued to YRQ Trust, 33,500 shares issued to SDZ-1-2022 Trust, 140,000 shares issued to SDZ-2-2022 Trust and 20,000 shares issued to Shui Dui Zi Irrevocable Family Trust. The trustees and beneficiaries of YRQ Trust are immediate family members of Mr. Qian Wang, our founder and former Chairman, who is the trustee of the SDZ-1-2022 Trust, the SDZ-2-2022 Trust and the Shui Dui Zi Irrevocable Family Trusts.

On October 3, 2024, we filed a Certificate of Designation with the Secretary of State of Nevada that authorized us to issue up to 5,000 shares of Series X Preferred Stock, par value $0.001 per share, and provides for 1,000 votes per share when voting together with the common stock. The Company issued all of the shares of Series X Preferred Stock to the YRQ Trust.

On December 11, 2024, we cancelled an aggregate of 4,519,500 shares of common stock pursuant to certain cancellation and release agreements dated December 11, 2024, in order to correct a structural error, which was remedied by the Reorganization Agreement (as defined below).

In December 2024, Collab LLC became a direct, wholly owned subsidiary of the Company through the closing of a share exchange pursuant to a Reorganization Agreement and Plan of Share Exchange dated December 30, 2024 (the "Reorganization Agreement" or "Reorganization"). Pursuant to the Reorganization, the sole member of Collab LLC, YRQ Trust, exchanged 100% of their member interests for a total of 4,550,500 shares of the Company's common stock. As a result, Collab LLC became a direct, wholly owned subsidiary of the Company. Collab Z Inc. is a holding company and carries out all its operations through its subsidiaries. Collab LLC is our main operating subsidiary.

On January 2, 2025, YRQ Trust assigned 1,838,000 of its shares of common stock (the "Assigned Shares") that it had received in the Reorganization to family irrevocable trusts, friends and family members of the beneficiaries of YRQ Trust (the "Assignment"). Following the Assignment, YRQ Irrevocable Trust owns 2,712,500 shares of common stock and 5,000 shares of Series X Preferred Stock. The Assigned Shares are held directly by the recipients and are no longer considered beneficially owned by YRQ Trust.

On June 5, 2025, we filed a Certificate of Designation with the Secretary of State of Nevada that authorized us to issue up to 1,250,000 shares of Series B Preferred Stock with a stated value of $4.00 per share. Pursuant to a securities purchase agreement, dated May 27, 2025, we sold 75,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $300,000.

**Corporate Information**

Our principal executive offices are located at 2001 Addison St, Suite 300, Berkeley, CA 94704. Our website address is https://living.collabhome.io/. The information included on our website is not part of this prospectus.

**Summary of Risk Factors**

An investment in our securities involves a high degree of risk. You should carefully consider the risks summarized below. These risks are discussed more fully in the "*Risk Factors*" section immediately following this Prospectus Summary. These risks include, but are not limited to, the following:

*<u>Risks Related to the Company and Our Business</u>*

 

● We are a rapidly growing company with a relatively limited operating history, which may result in increased risks, uncertainties, expenses, and difficulties, and makes it difficult to evaluate our prospects.

● A majority of our revenue is derived from property management and EB-5 management fees, which are subject to external economic and political conditions such as recessions, interests rates, foreign currency fluctuations, and declines in those engagements could have a material adverse effect on our financial condition and results of operations.

● We track certain operational metrics, which are subject to inherent challenges in measurement, and real or perceived inaccuracies in such metrics may harm our reputation and adversely affect our stock price, business, results of operations, and financial condition.

● Our growth plan may include completing acquisitions, which may or may not happen depending on the acquisition opportunities that are available in the marketplace.

● We are subject to concentration risk.

● We depend on our executive team and other employees to manage the business and the loss of one or more of these employees or an inability to attract and retain highly skilled employees could materially harm our business.

● Our management team has limited experience managing a public company.

● Although dependent on certain key personnel, the Company does not have any key man life insurance policies on any such people.

● Our consolidated financial statements have been prepared on a going concern basis and we must raise additional capital to fund our operations to continue as a going concern.

● We have entered into certain related party transactions and may continue to rely on related parties for certain development and support activities.

● We will be subject to various risks related to artificial intelligence ("AI") and technology as we expand into the PropTech industry.

● Relying on external AI technologies could lead to issues such as service disruptions or changes in licensing terms.

● We are exposed to risks related to the adoption and use of artificial intelligence.

● Our use of "open source" software could negatively affect our ability to provide AI-based PropTech services and subject us to possible litigation, and our participation in open source projects may impose unanticipated burdens or restrictions.

● We might be exposed to potential financial liabilities as a result of receiving minimum rental guarantees.

● Our revenue from our service agreements depends on timely payments, performance-based bonuses and project decisions which are beyond our control.

● Our shift toward a property management-focused business model may result in revenue volatility and operational challenges.

● We have entered and may continue to enter into joint ventures that will expose us to increased operating risks.

*<u>Risks Related to Our Intellectual Property and Platform Development</u>*

● We are reliant on one main type of service and some of our products are still in the prototype phase and might never be operational products.

● If we are unable to maintain the quality of our products, expand our product offerings or continue technological innovation and improvements, our prospects for future growth may be harmed.

● We are making substantial investments in new product offerings and technologies and expect to increase such investments in the future. These efforts are inherently risky, and we may never realize any expected benefits from them.

● The development and commercialization of our products are highly competitive.

● We must correctly predict, identify, and interpret changes in consumer preferences and demand, offer new products to meet those changes, and respond to competitive innovation.

● General economic conditions and commercial real estate market conditions have had and may in the future have a negative impact on our business.

● Seasonal fluctuations and other market data in the investment real estate industry could adversely affect our business and make comparisons of our quarterly results difficult.

● Our business has been and may in the future be adversely affected by restrictions in the availability of debt or equity capital as well as a lack of adequate credit and the risk of deterioration of the debt or credit markets and commercial real estate markets.

● We rely on third-party service providers to support our platform and information technology systems.

● Some of our products and services contain open-source software, which may pose particular risks to our proprietary software, products, and services in a manner that could have a negative effect on our business.

● We may not be able to continue to obtain licenses to third-party software and intellectual property on reasonable terms or at all, which may disrupt our business and harm our financial results.

● Claims by others that we infringed their proprietary technology or other intellectual property rights could harm our business.

● Our trademarks, copyrights, and other intellectual property could be unenforceable or ineffective.

● Failure to obtain proper business licenses or other documentation or to otherwise comply with local laws and requirements regarding property management may result in civil or criminal penalties and restrictions on our ability to conduct business in that jurisdiction.

● Changes in the regulation of the internet, mobile carriers, and their partners could negatively affect our business.

● We collect, store, use and otherwise process personal information, including financial information and other sensitive data, which subjects us to governmental regulation and other legal obligations related to data privacy and security. Our actual or perceived failure to comply with such obligations could harm our business.

*<u>Risks Related to Our Regulatory Environment</u>*

● Our business may be subject to a variety of U.S. financial regulations, many of which are overlapping, ambiguous and still developing, which could subject us to claims or otherwise harm our business.

● Litigation, regulatory actions and compliance issues could subject us to significant fines, penalties, judgments, remediation costs and requirements resulting in increased expenses.

*<u>Risks Related to Taxation</u>*

● We have made significant estimates and judgments in calculating our income tax provision and other tax assets and liabilities. If these estimates or judgments are incorrect, our operating results and financial condition may be materially affected.

● Changes in tax laws could have a material adverse effect on our business, financial condition and results of operations.

*<u>Risks Related to This Offering and Ownership of Our Securities</u>*

● Concentration of ownership of our voting stock by the Controlling Group will prevent new investors from influencing significant corporate decisions.

● While we are seeking to have shares of our common stock listed on Nasdaq, there is no assurance that either of such securities will be listed on Nasdaq. Even if we meet the initial listing requirements of the Nasdaq Capital Market, there can be no assurance that we will be able to comply with the continued listing standards of the Nasdaq Capital Market, a failure that could result in a delisting of our securities.

● The requirements of being a public company may strain our resources, divert management's attention and affect our ability to attract and retain qualified board members.

● Our management has broad discretion as to the use of the net proceeds from this offering.

● We may issue additional debt and equity securities, which are senior to our common stock as to distributions and in liquidation, which could materially adversely affect the market price of our securities.

● Our potential future earnings and cash distributions to our stockholders may affect the market price of our securities.

*<u>General Risk Factors</u>*

● We may make decisions based on the best interests of our users to build long-term trust that may result in us forgoing short-term gains.

● We have less experience operating in some of the newer market verticals to which we have expanded.

● We may not be able to expand into new markets.

● Damage to our reputation could negatively impact our business, financial condition, and results of operations.

**Implications of Being an Emerging Growth Company**

We are an "emerging growth company" as defined in Section 2(a) of the Securities Act, and we may remain an emerging growth company for up to five years following the closing of this offering. For so long as we remain an emerging growth company, we are permitted and intend to rely on certain exemptions from various public company reporting requirements, including not being required to have our internal control over financial reporting audited by our independent registered public accounting firm pursuant to Section 404(b) of the Sarbanes-Oxley Act of 2002, or Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and any golden parachute payments not previously approved. In particular, in this prospectus, we have provided only two years of audited financial statements and have not included all of the executive compensation-related information that would be required if we were not an emerging growth company. Accordingly, the information contained herein may be different from the information you receive from other public companies in which you hold stock.

In addition, the federal securities laws provide that an emerging growth company may take advantage of an extended transition period for complying with new or revised accounting standards. This provision allows an emerging growth company to delay the adoption of some accounting standards until those standards would otherwise apply to private companies. We have elected to use this exemption from new or revised accounting standards during the period in which we remain an emerging growth company; however, we have and may adopt certain new or revised accounting standards early.

We would cease to be an "emerging growth company" upon the earliest to occur of: (i) the last day of the fiscal year in which we have $1.235 billion or more in annual revenue, (ii) the date on which we first qualify as a large accelerated filer under the rules of the Securities and Exchange Commission, or SEC, (iii) the date on which we have, in any three-year period, issued more than $1.0 billion in non-convertible debt securities, and (iv) the last day of the fiscal year ending after the fifth anniversary of this offering.

**Implications of Being a Smaller Reporting Company**

We are a "smaller reporting company" as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended. We may take advantage of certain of the scaled disclosures available to smaller reporting companies until the fiscal year following the determination that our voting and non-voting common stock held by non-affiliates is more than $250 million measured on the last business day of our second fiscal quarter, or our annual revenues are less than $100 million during the most recently completed fiscal year and our voting and non-voting common stock held by non-affiliates is less than $700 million measured on the last business day of our second fiscal quarter.

**The Offering**

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| | |
|:---|:---|
| *Shares offered:* | 1,250,000 shares of common stock (1,437,500 shares of common stock, if the underwriters exercise their over-allotment option in full). |
| *Offering price (assumed):* | $4.00 per share of our common stock. |
| *Over-allotment option:* | We have granted a 45-day option to the underwriters to purchase up to 187,500 additional shares of common stock, representing 15% of the shares of common stock sold in this offering. |
| *Shares of common stock outstanding before the offering (1):* | 5,151,391 shares |
| *Shares of common stock outstanding after the offering (2):* | 6,795,439 shares |

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| | |
|:---|:---|
| *Series X Preferred Stock; disparate voting control:* | 5,000 shares of our Series X Preferred Stock, having an aggregate of 5,000,000 votes (equivalent to our shares of common stock) all of which are owned by YRQ Irrevocable Trust, and which will have approximately 67.03% voting control of our outstanding voting capital stock upon the consummation of this offering. |

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| | |
|:---|:---|
| *Use of proceeds:* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We estimate that the net proceeds from the sale of the shares in the offering, at an assumed public offering price per share of $4.00, will be approximately $4.1 million after deducting the underwriting discounts and commissions and estimated offering expenses, or $4.8 million if the underwriters exercise their over-allotment option in full. We currently expect to use the net proceeds of this offering primarily for the following purposes:<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● approximately $1,000,000 for business development;<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● approximately $2,500,000 for system development; and<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the remaining proceeds of approximately $616,125 for general corporate purposes, including capital expenditures and working capital. |

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| | |
|:---|:---|
| *Proposed Nasdaq listing and symbol:* | We have applied to list our common stock on the Nasdaq Capital Market under the symbol "CLBZ." No assurance can be given that our listing will be approved by Nasdaq or that a trading market will develop for the common stock. We will not proceed with this offering in the event the common stock is not approved for listing on the Nasdaq Capital Market. |

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| | |
|:---|:---|
| *Representative's Warrants:* | We have agreed to issue to the representatives of the underwriters or their designees at the closing of this offering, warrants to purchase the number of shares of our common stock equal to 4% of the aggregate number of shares sold in this offering (the "Representative's Warrants"). The Representative's Warrants will be exercisable at any time and from time to time, in whole or in part, during the four-and-a-half-year period commencing 6 months after the commencement of sales in this offering. The exercise price of the Representative's Warrants will equal 110% of the initial public offering price per share, subject to adjustments. |
| *Lock-up:* | We and our directors, officers and certain stockholders who are holders of 5% or more of the outstanding shares of common stock as of the effective date of the registration statement of which this prospectus is a part have agreed with the underwriters not to, without the prior written consent of the representatives, for a period of 6 months after the consummation of this offering, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any classes of our stocks or any securities convertible into or exercisable or exchangeable for any classes of our stocks; (ii) file or caused to be filed any registration statement with the SEC, relating to the offering of any classes of our stocks or any securities convertible into or exercisable or exchangeable for any classes of our stocks; (iii) complete any offering of debt securities, other than entering into a line of credit with a traditional bank; or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any classes of our stocks, whether any such transaction described in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of any classes of our stocks or such other securities, in cash or otherwise. |
| *Dividend policy:* | We currently intend to retain all available funds and future earnings, if any, for use in the operation of our business and do not anticipate paying any cash dividends on our common stock in the foreseeable future. Investors should not purchase our common stock with the expectation of receiving cash dividends. |
| *Risk factors:* | Investing in our securities involves a high degree of risk. As an investor, you should be able to bear a complete loss of your investment. You should carefully consider the information set forth in the "*Risk Factors*" section. |
| *Transfer Agent:* | The transfer agent and registrar for our common stock is Colonial Stock Transfer. |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) The number of shares of
 common stock outstanding before this offering excludes the following shares:

● 587,975 shares of our common stock issuable upon the exercise of outstanding stock options issued under our 2025 Plan, at a weighted-average exercise price of $2.08 per share;

● 175,733 shares of our common stock reserved for future issuance under our 2025 Plan, as well as any automatic increases in the number of shares of our common stock reserved for future issuance under our 2025 Plan; and

● 50,000 shares of common stock issuable upon the exercise of the Representative's Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;(2) The number of shares of
 common stock outstanding after this offering includes an aggregate of 1,644,047 shares of common stock issuable upon the closing
 of this offering, consisting of the following shares:

● 1,250,000 shares of common stock to be issued in this offering;

● 100,000 shares of common stock to be issued at the closing of this offering to Blake Elliot Inc. as compensation pursuant to certain advisory agreement dated May 6, 2024;

● 8,333 shares of common stock issuable at a 75% discounted price of $3.00 per share assuming a public offering price of $4.00, upon the automatic conversion of $25,000 of a Simple Agreement for Future Equity (SAFE) issued by the Company in April 2023 (the "2023 SAFE"); and

● 285,714 shares of common stock issuable upon the conversion of 200,000 shares of Series B Preferred Stock.

Unless the context otherwise requires, the information in this prospectus assumes:

● an assumed initial public offering price of $4.00 per share; and

● no exercise of the Representative's Warrants or over-allotment option issued in this offering.

**Summary Financial Information**

You should read the following summary financial information and operating data in conjunction with, and it is qualified in its entirety by reference to, our unaudited financial statements and audited financial statements and the related notes thereto, and the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations."

Our summary financial information set forth below are derived from our financial statements included elsewhere in this prospectus.

All financial statements included in this prospectus are prepared and presented in accordance with generally accepted accounting principles in the United States, or GAAP. The summary financial information is only a summary and should be read in conjunction with the financial statements and related notes contained elsewhere in this prospectus. The financial statements contained elsewhere fully represent our financial condition and operations, however, our historical results are not necessarily indicative of our results in any future period and results from our interim period may not necessarily be indicative of the results of the entire year.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **March 31, 2025** | **March 31, 2025** | | **September 30,**<br>**2024** |
|  | **Actual** | **Pro Forma (1)** |<br>**As Adjusted(2)** | **Actual** |
| Cash | $48725 | $848725 | $4964850 | $105034 |
| Accounts receivable | 561962 | 561962 | 561962 | 509576 |
| Due from related parties | 491834 | 491834 | 491834 | 2557033 |
| Total current assets | 1987018 | 2787018 | 6903143 | 3205907 |
| Intangible assets, net | 143944 | 143944 | 143944 | 151111 |
| Investments in joint ventures | 20000 | 120000 | 120000 |  |
| Total assets | 2474354 | 3374354 | 7167087 | 3357018 |
| Accounts payable and accrued expenses | 368971 | 368971 | 368971 | 161136 |
| Due to related parties | 673083 | 673083 | 673083 | 1304916 |
| Total current liabilities | 1089054 | 1089054 | 1089054 | 1506052 |
| Line of credit |  |  |  | 642854 |
| Total liabilities | 1114054 | 1114054 | 1089054 | 2173906 |
| Common stock subject to possible redemption | 20000 | 120000 |  |  |
| Total stockholders' equity | 1340300 | 2140300 | 6078033 | 1183112 |
| Total liabilities, common stock subject to possible redemption and stockholders' equity | $2474354 | $3374354 | $7167087 | $3357018 |

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(1) Pro forma balance sheet
 information includes a) the effect of 50,000 shares issued in April 2025 pursuant to the Joint Venture Agreements, using a preliminary
 fair value of $2.00 per share and b) the issuance of 200,000 shares of Series B Preferred Stock for an aggregate purchase price of
 $800,000 as of the date of this prospectus.

(2) On a pro forma as adjusted
 basis to give effect to the sale by us of 1,250,000 shares of common stock in this offering at an assumed public offering price of
 $4.00 per share, after deducting the estimated underwriting discounts and commissions and estimated offering expenses. The
 as adjusted basis also gives effect to the following: a) 100,000 shares of common stock to be issued at the closing of this offering
 to Blake Elliot Inc. as compensation pursuant to certain advisory agreement dated May 6, 2024, b) 8,333 shares of common stock issuable
 upon the automatic conversion of $25,000 of a Simple Agreement for Future Equity (SAFE) issued by the Company in April 2023 (the
 "2023 SAFE"), c) 285,714 shares of common stock issuable upon the conversion of 200,000 shares of Series B Preferred
 Stock, and d) the reclassification of $120,000 in common stock subject to possible redemption to stockholders' equity pursuant
 to the Joint Venture Agreements.

**RISK FACTORS**

 

*An investment in our securities involves a high degree of risk. You should carefully consider the following risk factors, together with the other information contained in this prospectus, before purchasing our securities. We have listed below (not necessarily in order of importance or probability of occurrence) what we believe to be the most significant risk factors applicable to us, but they do not constitute all of the risks that may be applicable. Any of the following factors could harm our business, financial condition, results of operations or prospects, and could result in a partial or complete loss of your investment. Some statements in this prospectus, including statements in the following risk factors, constitute forward-looking statements. Please refer to the section titled "Cautionary Statement Regarding Forward-Looking Statements."*

**<u>RISKS RELATED TO OUR COMPANY AND OUR BUSINESS</u>**

***We are a rapidly growing company with a relatively limited operating history, which may result in increased risks, uncertainties, expenses and difficulties, and makes it difficult to evaluate our prospects.***

The Company has a limited history upon which an evaluation of its performance and prospects can be made. There can be no assurance that we will ever operate profitably. Our current and proposed operations are subject to all the business risks associated with new enterprises. The Company may not be successful in attaining the objectives necessary for it to overcome these risks and uncertainties. These include likely fluctuations in operating results as the Company reacts to developments in its market, managing its growth and the entry of competitors into the market. We will only be able to pay dividends on any shares once our directors determine that we are financially able to do so.

 ****

***We may not be able to effectively manage our growth and operations, which could materially and adversely affect our business.***

We may experience rapid growth and development in a relatively short time span through our marketing efforts. The management of this growth will require, among other things, continued development of our financial and management controls and management information systems, stringent control of costs, increased marketing activities, the ability to attract and retain qualified management personnel, and the training of new personnel. We intend to hire additional personnel to manage our expected growth and expansion. Failure to successfully manage our possible growth and development could have a material adverse effect on our business and the value of our common stock.

 **

***We engage in related party transactions, which may result in conflicts of interest involving our senior management.***

 

***A majority of our revenue is derived from agreements with related parties, including revenues derived from property management and EB-5 management fees, which are subject to external economic and political conditions such as recessions, interests rates, foreign currency fluctuations, and declines in those engagements could have a material adverse effect on our financial condition and results of operations.***

We historically have earned principally all of our revenue from transactions with related parties, specifically from property management and EB-5 management fees. Related party transactions could increase the risks of misrepresentations and fraud or increase the likelihood of a party not receiving the same level of benefit available in an arms-length transaction. We expect that we will continue to rely heavily on revenue from these sources for substantially all of our revenue for the foreseeable future. A decline in the number of transactions completed or in the value of the commercial real estate we finance could significantly decrease our revenues, which would adversely affect our business, financial condition and results of operations.

***Our reliance on related parties for a substantial portion of our revenue from transactions with related parties creates risks to our business, financial condition and results of operations.***

During the six months ended March 31, 2025 and 2024, approximately 65% and 100%, respectively, of our total revenue was generated from transactions with related parties. The reliance on related parties presents risks to our business. For example, a significant decline in businesses from these related parties could materially and adversely affect our revenue. In addition, a significant on related parties, for revenue may not reflect our ability to generate from unaffiliated third parties, which could hinder our ability to grow or diversify our customer base.

***We track certain operational metrics, which are subject to inherent challenges in measurement, and real or perceived inaccuracies in such metrics may harm our reputation and adversely affect our stock price, business, results of operations, and financial condition.***

We track certain operational metrics, which may differ from estimates or similar metrics published by third parties due to differences in sources, methodologies, or the assumptions on which we rely. Our internal systems and tools are subject to a number of limitations, and our methodologies for tracking these metrics may change over time, which could result in unexpected changes to our metrics, including the metrics we publicly disclose. If the internal systems and tools we use to track these metrics undercount or overcount or contain algorithmic or other technical errors, the data we report may not be accurate. While these numbers are based on what we believe to be reasonable estimates of our metrics for the applicable period of measurement, there are inherent challenges in measuring how our platform is used. Limitations or errors with respect to how we measure data or with respect to the data that we measure may affect our understanding of certain details of our business, which could affect our long-term strategies. If our operational metrics are not accurate representations of our business, if investors do not perceive these metrics to be accurate, or if we discover material inaccuracies with respect to these figures, our reputation may be significantly harmed, our stock price could decline, we may be subject to stockholder litigation, and our business, financial results and results of operations could be adversely affected.

***Our growth plan may include completing acquisitions, which may or may not happen depending on the acquisition opportunities that are available in the marketplace.***

Our ability to grow by acquiring companies or assets and by making investments to complement our existing businesses will depend upon the availability of suitable acquisition candidates. If we are unable to find suitable acquisition candidates, if we are unable to attract the interest of such candidates, or if we are unable to successfully negotiate and complete such acquisitions, that could limit our ability to grow.

***We may be unable to make acquisitions and investments, successfully integrate acquired companies into our business, or our acquisitions and investments may not meet our expectations, any of which could adversely affect our business, financial condition, and results of operations.***

We may in the future acquire or invest in businesses, offerings, technologies, or talent that we believe could complement or expand our existing product offerings, enhance our technical capabilities, or otherwise offer growth opportunities. The pursuit of future potential acquisitions and investments may divert the attention of management and cause us to incur significant expenses related to identifying, investigating, and pursuing suitable acquisitions and investments, whether or not they are consummated. Furthermore, even if we successfully acquire or invest in additional businesses or technologies, we may not achieve the anticipated benefits or synergies due to a number of factors, including, without limitation:

● unanticipated costs or liabilities associated with the acquisition, including claims related to the acquired company, its product offerings, or technology;

● the incurrence of acquisition-related or investment-related expenses, which would be recognized as a current period expense;

● inability to generate sufficient revenue to offset acquisition or investment costs;

● inability to maintain relationships with customers and partners of the acquired business;

● challenges maintaining quality and security standards consistent with our brand;

● inability to identify security vulnerabilities in acquired technology;

● inability to achieve anticipated synergies or unanticipated difficulty with integration into our corporate culture;

● the need to integrate or implement additional controls, procedures, and policies;

● challenges caused by distance and cultural differences;

● harm to our existing business relationships with business partners as a result of the acquisition or investment;

● potential loss of key employees;

● use of resources that are needed in other parts of our business and diversion of management and employee resources;

● unanticipated complexity in accounting requirements;

● use of substantial portions of our available cash or the incurrence of debt to consummate the acquisition; and

● disputes that may arise out of earn-outs, escrows, and other arrangements related to an acquisition of a company.

Acquisitions also increase the risk of unforeseen legal liability, including for potential violations of applicable law or industry rules and regulations, arising from prior or ongoing acts or omissions by the acquired businesses that are not discovered by due diligence during the acquisition process.

We may have to pay cash, incur additional debt, or issue equity to pay for any future acquisitions or investments, each of which could adversely affect our financial condition. The sale of equity to finance any future acquisitions or investments could result in dilution to our stockholders. The incurrence of additional indebtedness would result in increased fixed obligations and could also include additional covenants or other restrictions that would impede our ability to manage our operations. Any of the foregoing could adversely affect our business, financial condition, and results of operations.

***We may need to raise substantial additional capital in the future in order to execute our business plan and help us and our collaboration partners fund the development and commercialization of our products. If we are unable to raise capital when needed, we may be forced to delay, reduce or eliminate products, programs, commercial efforts, or sales efforts.***

We may need to finance future cash needs through public or private equity offerings, debt financings, or strategic collaboration and licensing or royalty arrangements. Our stockholders may consequently experience additional dilution, and debt financing, if available, and such financings may involve restrictive covenants and/or high interest rates. Regarding accessing additional funds through collaboration and licensing arrangements, it may be necessary to relinquish some rights to our products, processes, and technologies or to grant licenses on terms not necessarily favorable to us. If adequate funds are not available from the foregoing sources, we may consider additional strategic financing options, including sales of assets, or we may be required to delay, reduce the scope of, or eliminate one or more of our research or development programs, or curtail some of our commercialization efforts. We may seek to access the public or private equity markets whenever conditions are favorable, even if we do not have an immediate need for additional capital.

***We depend on our executive team and other employees to manage the business and the loss of one or more of these employees or an inability to attract and retain highly skilled employees could materially harm our business.***

Our success depends largely upon the continued high performance of our executive team and other employees. We rely on our executive team for leadership in critical areas of our business, including product development, engineering, marketing, security, business development, and general and administrative functions. The loss of one or more of our executives or key employees would have an adverse effect on our business. From time to time, there may be changes in executives due to hiring or departures, which could disrupt our business. We do not have employment agreements with executives or other key personnel that require them to continue to work for us for any specified period and, therefore, they could terminate their employment at any time.

***Our management team has limited experience managing a public company.***

Our management team has limited experience managing a publicly traded company, interacting with public company investors, and complying with the increasingly complex laws pertaining to public companies. These new obligations and constituents require significant attention from our management team and may divert their attention away from the day-to-day management of our business, which could harm our business, results of operations, and financial condition.

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***We face stiff competition for qualified personnel and if we fail to attract new personnel or fail to retain and motivate our current personnel, our business, financial condition, and results of operations could be materially and adversely affected.***

To execute our growth plan, we must attract and retain highly qualified personnel. Competition for qualified personnel is intense, especially for engineers experienced in designing and developing online and mobile products. We have experienced and we expect to continue to experience difficulty in hiring and retaining employees with appropriate qualifications. To attract and retain top talent, we have had to offer, and we believe we will need to continue to offer competitive compensation and benefits packages. If we are unable to attract, hire and retain the right talent or make too many hiring mistakes, it is likely our business will suffer.

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***Our lack of D&O insurance may also make it difficult for us to retain and attract talented and skilled directors and officers.***

In the future, we may be subject to additional litigation, including potential class action and stockholder derivative actions. Risks associated with legal liability are difficult to assess and quantify, and their existence and magnitude can remain unknown for significant periods. To date, we have not obtained directors and officers liability ("D&O") insurance. Without adequate D&O insurance, the amounts we would pay to indemnify our officers and directors should they be subject to legal action based on their service to the Company could have a material adverse effect on our financial condition, results of operations and liquidity. Furthermore, our lack of adequate D&O insurance may make it difficult for us to retain and attract talented and skilled directors and officers, which could further impact our ability to retain and attract talented and skilled directors and officers.

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***We will be a "controlled company" within the meaning of Nasdaq rules and, as a result, qualify for an exemption from certain corporate governance requirements.***

Following this offering, we will continue to control a majority of the voting power of our outstanding voting stock, and as a result, we will be a "controlled company" within the meaning of the corporate governance standards. Under Nasdaq rules, a company of which more than 50% of the voting power is held by another person or group of persons acting together is a controlled company and may elect not to comply with certain corporate governance requirements, including the requirements that:

● a majority of the board of directors consists of independent directors,

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

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

● there be an annual performance evaluation of the nominating and corporate governance and compensation committees.

Although we do not currently intend to avail ourselves of this exemption, these requirements will not apply to us as long as we remain a controlled company. Accordingly, you may not have the same protections afforded to stockholders of companies that are subject to all of the corporate governance requirements of Nasdaq.

**We rely on a limited number of key personnel, and the loss of any of these individuals could harm our business.**

Our success depends on the expertise and experience of a small team of professionals. The loss of any key personnel could delay project approvals, disrupt investor relations, or otherwise impair our ability to operate effectively. We have not obtained key-man life insurance policies on these individuals. The loss of any of its executives' services could cause investors to lose confidence in our business. Further, our future success will also depend on our ability to retain and motivate other highly skilled employees. We may not be able to retain its key employees or attract, assimilate or retain other highly qualified employees in the future. If we do not succeed in attracting new personnel or retaining and motivating our current personnel, our business will be adversely affected.

***Our consolidated financial statements have been prepared on a going concern basis and we must raise additional capital to fund our operations to continue as a going concern.***

In Note 2 to our consolidated financial statements for the fiscal years ended September 30, 2024 and 2023 included elsewhere in this prospectus states that the financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company had $48,725 and $105,034 in cash and $1,024,028 and $2,906,609 in amounts due from related parties as of March 31, 2025 and September 30, 2024, respectively. The Company is heavily reliant on related parties as its primary revenue and cash flow sources and has historically generated revenues from sources that may not be recurring. The Company is early-stage, and expects to incur significant costs to expand its operations and conduct its business plan, which may result in future losses if it cannot effectively market its products and achieve market acceptance.

While property management fee is our recurring source of revenue, our future business success is dependent on our ability to generate cash from our operating activities or to raise additional capital to finance our operations. There is no assurance that we will succeed in obtaining sufficient funding on terms acceptable to us to fund continuing operations, if at all. The perception that we might be unable to continue as a going concern may also make it more difficult to obtain financing for the continuation of our operations on terms that are favorable to us, or at all, and could result in the loss of confidence by investors, suppliers and employees. Our consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. If we are unable to continue as a going concern, we may have to liquidate our assets and may receive less than the value at which those assets are carried on our consolidated financial statements, and it is likely that our investors will lose all or a part of their investment.

***We have entered into certain related party transactions and may continue to rely on related parties for certain business activities*.**

We have engaged in the past, and may continue to engage, in a substantial number of related party transactions. For additional information related to this and other related party transactions, please see the section entitled "Current Relationships and Related Party Transactions." Such related party transactions may not have been entered into on an arm's-length basis, and we may have achieved more favorable terms because such transactions were entered into with our related parties. We rely on, and will continue to rely on, our related parties to earn revenues. If our related parties cease to demand real estate services from us, including by terminating agreements with us, we may be unable to obtain other sources of revenue on the same terms without disruption to our business. This could have a material effect on our business, results of operations and financial condition.

***We will be subject to various risks related to artificial intelligence ("AI") and technology as we expand into the PropTech industry.***

As we plan to expand to the PropTech industry in the future and transition ourselves from a standard property developer to a tech, AI based innovator, we believe we will become subject to various risks related to AI and technology, including the following:

● AI and AI-related markets are still in their infancy in comparison to other widely used software types, and it is unclear whether AI and AI-related markets will continue to grow. The success of our AI-based PropTech services will depend on the willingness of developers and other real estate industry participants to increase their use of AI.

● AI is a fast growing industry and we must successfully adapt and manage technological advances in AI and AI-related markets, as well as effectively compete with the emergence of additional competitors in the industry in order to maintain and grow our AI-based PropTech business. Thus, the success of our AI-based PropTech business depends in large part on our ability to keep pace with rapid technological changes in the development and implementation of AI products and services.

● Failure to attract and retain additional qualified personnel in the AI field could also prevent us from executing our business strategy and growth plans.

● The information that AI learns may include highly confidential information. In the unlikely event of a leakage of such confidential information, our credibility may be negatively impacted, which may affect our business, operating results, and financial condition.

● AI algorithms heavily rely on data for training and decision-making. However, the quality, completeness, and accuracy of real estate data can be inconsistent. Incomplete or biased data can lead to flawed predictions and suboptimal outcomes. Also, AI models can inadvertently perpetuate biases present in historical data. In real estate, this could lead to discriminatory practices related to property valuation, tenant selection, or mortgage approvals.

● Handling sensitive personal information (e.g., financial records, property details) requires robust privacy safeguards. Data breaches or misuse could harm individuals and erode trust in AI-driven real estate solutions.

● While AI models can excel in specific tasks (e.g., property valuation, demand prediction), scaling them across diverse markets or adapting them to unique local contexts remains a challenge. Real estate markets vary significantly by location, property type, and regulations. AI models must adapt to local nuances. A one-size-fits-all approach may not work. Customization for individual properties or regions is essential.

● Developing, deploying, and maintaining AI systems involve significant costs. Small real estate businesses may struggle to afford AI solutions, limiting their access to advanced technology.

● Real estate markets are influenced by economic cycles, geopolitical events, and unforeseen crises. AI models trained on historical data may struggle to predict sudden shifts or adapt to unprecedented situations.

● Beyond technical challenges, ethical dilemmas arise. For instance, should AI prioritize profit over community well-being? Balancing commercial interests with societal impact is an ongoing debate.

***Relying on external AI technologies could lead to issues such as service disruptions or changes in licensing terms.***

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We use AI technologies licensed from third parties in our technologies, and our ability to continue to use such technologies at the scale we need may be dependent on access to specific third-party software and infrastructure. We cannot control the availability or pricing of such third-party AI technologies, especially in a highly competitive environment, and we may be unable to negotiate favorable economic terms with the applicable providers. If any such third-party AI technologies become incompatible with our solutions or unavailable for use, or if the providers of such models unfavorably change the terms on which their AI technologies are offered or terminate their relationship with us, our solutions may become less appealing to our customers, and our business will be harmed. In addition, to the extent any third-party AI technologies are used as a hosted service, any disruption, outage, or loss of information through such hosted services could disrupt our operations or solutions, damage our reputation, cause a loss of confidence in our solutions, or result in legal claims or proceedings for which we may be unable to recover damages from the affected provider.

Our reliance on specific third-party AI providers, or the specialized integrations we build around them, may limit our ability to switch to alternative solutions quickly. Contractual obligations, proprietary APIs, or a need to retrain models on different platforms could result in prohibitively high switching costs. This limitation can reduce our negotiating leverage, preventing us from securing more favorable pricing or service levels from the current or competing vendors. If we are unable to pivot to alternative providers when market conditions or technology trends shift, our platform's evolution and our competitive position could be constrained.

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***We are exposed to risks related to the adoption and use of artificial intelligence.***

We are subject to various risks associated with the adoption and utilization of AI technologies by both our company and our competitors. The inherent complexity and rapid evolution of AI technology may hinder our ability to effectively implement these capabilities, potentially leading to significant costs without corresponding benefits to our business or customer value. Our AI implementations may result in errors or unintended outcomes due to algorithmic flaws, inadequate training data, or inherent biases, which could expose us to liability and reputational damage. Additionally, we face competitive risks if our adoption of AI or other machine learning technologies is not done timely or as effective as that of our competitors. AI technology also presents unique challenges related to data privacy, cybersecurity, and ethical considerations, which could impact our business operations. The regulatory landscape is continuously evolving, with new laws and regulations being proposed or enacted in various jurisdictions. Compliance with these diverse requirements could increase our operational costs, and any actual or perceived regulatory violations could subject us to enforcement actions, penalties, and reputational harm. The combined effect of these interrelated risks could materially and adversely affect our business operations, financial condition, and competitive position.

The technologies or models we rely upon may undergo major updates or shifts while our AI features are already live in the market. Such updates could force us to retrain or redeploy our own AI systems at inopportune times, increasing our costs and delaying upgrades or product releases. Furthermore, the vendor might unexpectedly discontinue certain features or stop supporting the version on which our platform depends. Any such mid-deployment disruption could result in downtime, diminished accuracy or usability, and ultimately damage our brand reputation and customer experience.

Use of AI-based chatbots, automated email systems, or virtual assistants to communicate with tenants risks generating inaccurate, misleading, or even non-compliant messages, especially if trained on incomplete or biased data. When automated interactions fail to handle tenant needs or provide incorrect information, it can cause confusion and frustration, and may even give rise to disputes or legal liabilities under consumer-protection or housing regulations. Reliance on AI to handle real-time tenant communication may also reduce our ability to detect and correct errors quickly, exposing us to reputational harm if the tenant experience deteriorates.

A number of larger, well-funded companies in the real estate and property-technology sectors are simultaneously investing in or building their own AI solutions. These organizations often possess more resources and larger datasets, giving them an inherent advantage in rapidly developing and refining powerful AI tools. Their scale can also allow them to enter the market more aggressively. If we cannot match the pace or sophistication of these bigger players, our competitive position and market share could be adversely affected, and we may face increased pressure to invest heavily in research and development or enter into less favorable partnerships to remain competitive.

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***Our use of "open source" software could negatively affect our ability to provide AI-based PropTech services and subject us to possible litigation, and our participation in open source projects may impose unanticipated burdens or restrictions.***

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We use open source software in our AI-based PropTech services, including as incorporated into software we receive from third-party commercial software vendors, and expect to continue to use open source software in the future. Use of open source software may entail greater risks than use of third-party commercial software. The terms of many open source licenses have not been interpreted by U.S. courts, and there is a risk that such licenses could be construed in a manner that imposes unanticipated conditions or restrictions on our ability to market or commercialize our products. We may face claims from others alleging breach of license requirements or infringement of intellectual property rights in what we believe to be licensed open source software. In addition, under the terms of some open source licenses, under certain conditions, we could be required to release our proprietary source code that was developed using, incorporating or linked with such open source software, or apply open source licenses to our proprietary software, including authorizing further modification and redistribution. These claims or requirements, including any change to the applicable license terms, could also result in litigation, require us to purchase a costly license, require us to devote additional research and development resources to change our offerings, or require us to cease offering the implicated services unless and until we can find alternative tools or re-engineer them to avoid infringement or release of our proprietary source code, any of which would have a negative effect on our business and operating results. Some open source software may include generative AI software or other software that incorporates or relies on generative AI. The use of such software may expose us to risks as the intellectual property ownership and license rights, including copyright, of generative AI software and tools, has not been fully interpreted by U.S. courts or been fully addressed by federal or state regulation. In addition to risks related to license requirements, usage of open source software can lead to greater risks than use of third-party commercial software, as open source licensors generally do not provide updates, warranties, support, indemnities, assurances of title or controls on origin of the software, or other contractual protections regarding infringement claims or the quality of the code. Likewise, some open source projects have known security and other vulnerabilities and architectural instabilities, or are otherwise subject to security attacks due to their wide availability, and are provided on an "as-is" basis. Many of these risks associated with usage of open source software could be difficult to eliminate or manage, and could, if not properly addressed, negatively affect the performance of our offerings and our business.

Certain open-source licenses (for example, GNU GPL or AGPL) can impose copyleft obligations, which mandate that any derivative works, including sections of our proprietary code, must be licensed under the same open-source terms. If our team inadvertently integrates this code with our proprietary software in a manner that triggers these obligations, we could be forced to disclose valuable internal source code or re-license parts of our platform. Such an event could undermine the uniqueness of our technology, erode our competitive advantage, and in some cases, lead to contractual disputes or legal action from third parties who believe we violated the license terms.

We bear responsibility for implementing security patches and fixes in a timely manner across all relevant systems. If we fail to promptly address known open source security flaws, whether out of oversight, insufficient resources, or incompatible code dependencies, our platform could become vulnerable to exploits. Even short delays in applying critical updates could result in data breaches, system outages, or compromised user information, leading to reputational harm, regulatory scrutiny, or legal liabilities.

An open source software project we use might change its license terms, or if ongoing legal challenges redefine what constitutes fair use of the code. Such shifts, especially if it affects a fundamental component of our platform, could force us to re-engineer substantial parts of our technology under time constraints, or expose us to claims from licensors or users who assert that our software violates revised license conditions.

***We might be exposed to potential financial liabilities as a result of receiving minimum rental guarantees.***

We have a minimum rental guarantee for certain managed properties whereby the Company will pay the difference between the collected rent and the minimum rent guarantee. The minimum rental guarantees expose Collab Z Inc. to potential financial liabilities if the properties under management fail to generate the guaranteed minimum revenue. While the historical performance and current market conditions have not necessitated shortfall payments, changes in market dynamics and economic downturns could lead to significant financial obligations under these guarantees. These conditions could impact our financial position and require careful management and continuous market analysis to mitigate potential risks associated with these guarantees.

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***Our revenue from our management agreements depends on timely payments, performance based bonuses and project decisions which are beyond our control.***

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Our management agreements provide that base fees may be paid either monthly or upon completion of specific services. This structure exposes us to the risk of delayed payments, which could negatively impact our cash flow and financial condition. While we have the right to terminate agreements if fees remain unpaid for more than 30 days, there is no guarantee that we will be able to recover outstanding amounts, and termination may limit future business opportunities. Additionally, our agreements allow for performance-based bonuses, which are subject to the discretion of project developers and owners. As a result, we may not receive the full bonus amounts if actual performance calculations differ from initial projections or if developers elect not to pay discretionary bonuses.

Furthermore, as a consultant in the development phase, we do not control key aspects of the projects, including financial performance, construction quality, or the completion schedule. Decision-making authority rests with the developers and owners, and any delays, cost overruns, or project failures could impact our expected compensation or business reputation. If we are unable to effectively manage these risks, our financial performance and growth prospects could be adversely affected.

***Our shift toward a property management-focused business model may result in revenue volatility and operational challenges.***

In the future we anticipate to experience significant transition in our business model, and shift our focus toward community-based property management and phase out or significantly scaling down other business activities, including EB-5 immigration investor services, development, renovation management, and procurement services. While we believe this strategic shift will enhance long-term sustainability and market differentiation, it poses several risks that could adversely impact our financial performance and operational efficiency.

As we phase out EB-5 immigration investor services, which accounted for approximately 37% of our total revenue in the fiscal year 2024, we may experience a temporary decline in revenue. The transition period may result in financial volatility, and there is no guarantee that the growth of our property management services will fully compensate for the revenue lost from these discontinued segments in the near term. If our property management division does not scale at the anticipated rate, we may face prolonged revenue shortfalls, which affects profitability and cash flow.

Additionally, to support the expansion of our property management services, we will need to allocate substantial financial, technological, and human resources. There is a risk that these resources may be insufficient or that the reallocation may lead to inefficiencies or underperformance. If we are unable to successfully execute this transition, it could negatively impact our overall business performance, competitive position, and shareholder value. Moreover, our ability to implement these changes effectively will depend on evolving market conditions, regulatory developments, and customer demand, which may not align with our expectations.

***We have entered and may continue to enter into joint ventures that will expose us to increased operating risks.***

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As part of our growth strategy, we have also entered into joint venture arrangements intended to complement or expand our business and will likely continue to do so in the future. These joint ventures are subject to substantial risks and liabilities associated with their operations, as well as the risk that our relationships with our joint venture partners do not succeed in the manner that we anticipate.

**RISKS RELATED TO OUR EB-5 INVESTOR SERVICES**

***The success of the EB-5 program depends on compliance with evolving USCIS requirements, which may be subject to change.***

The EB-5 program is governed by regulations and policies enforced by United States Citizenship and Immigration Services ("USCIS"). Changes to requirements, such as job creation thresholds, investment amounts, or geographic restrictions for Targeted Employment Areas, may reduce the demands for our services and adversely affect our ability to attract investors.

***Investors may face significant risks related to their immigration status and financial investments.***

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Investors participating in the EB-5 program rely on our services to identify compliant projects and facilitate their visa applications. However, if an investor's visa petition is denied due to issues with the selected project, such as insufficient job creation or non-compliance with business plans, the investor may lose their immigration benefits and financial investment. Such outcomes may lead to dissatisfaction with our services and potential legal claims.

***The success of our business relies heavily on third-party project operators and developers.***

Our ability to attract and retain EB-5 investors depends on the performance of third-party project operators. Delays, cost overruns, or operational failures in projects we recommend could result in the inability to meet USCIS requirements or achieve financial returns for investors. Although we conduct due diligence, we cannot control the execution of these projects, which exposes our business to reputational and financial risks.

***Economic, political, or legal changes could adversely impact the EB-5 program and our business operations.***

Changes in federal immigration policy, economic downturns, or shifts in foreign relations could negatively affect the EB-5 program's attractiveness to international investors. For example, increased restrictions on immigration or changes to the EB-5 program's terms may reduce investor interest and impact our ability to operate successfully.

***The illiquid nature of EB-5 investments may deter potential investors.***

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Investments made under the EB-5 program are typically illiquid and cannot be easily sold or transferred. This lack of liquidity may discourage some potential investors and limit our ability to attract new participants in the program.

***We may face conflicts of interest in our relationships with project operators.***

Our relationships with project operators or developers may create conflicts of interest, particularly if those operators are affiliates or entities in which we have financial interests. Such conflicts may result in questions regarding the impartiality of our recommendations and could damage our reputation.

**<u>RISKS RELATED TO OUR INTELLECTUAL PROPERTY AND PLATFORM DEVELOPMENT</u>**

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***We may implement new lines of business or offer new products and services within existing lines of business.***

As an early-stage company, we may implement new lines of business at any time. There are substantial risks and uncertainties associated with these efforts, particularly in instances where the markets are not fully developed. In developing and marketing new lines of business and/or new products and services, we may invest significant time and resources. Initial timetables for the introduction and development of new lines of business and/or new products or services may not be achieved, and price and profitability targets may not prove feasible. We may not be successful in introducing new products and services in response to industry trends or developments in technology, or those new products may not achieve market acceptance. As a result, we could lose business, be forced to price products and services on less advantageous terms to retain or attract clients or be subject to cost increases. As a result, our business, financial condition or results of operations may be adversely affected.

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***If we are unable to maintain the quality of our products, expand our product offerings or continue technological innovation and improvements, our prospects for future growth may be harmed.***

We believe our success depends on users' finding our product offerings to be of value to them. Our ability to attract and engage users depends, in part, on our ability to successfully expand our product offerings and editorial articles. To penetrate new verticals, we will need to develop a deep understanding of those new markets and the associated business challenges faced by participants in them. Developing this level of understanding may require substantial investments of time and resources, and we may not be successful. In addition to the need for substantial resources, government regulation could limit our ability to introduce new product offerings. If we fail to penetrate new verticals successfully, our revenue may grow at a slower rate than we anticipate, and our business, financial condition and results of operations could be materially adversely affected. We must also continue to innovate and improve our technology and product offerings to continue future growth and successfully compete with other companies in our markets, or our brand and future growth could be materially adversely affected.

In addition, the market for products that support property management is rapidly evolving, fragmented and highly competitive. Competition in this market has intensified, and we expect this trend to continue as the list of financial services providers grows. There are many established and emerging technology-centric financial services providers providing a multitude of products to borrowers across all financial verticals. If we fail to successfully anticipate and identify new trends, products and emerging financial services providers, and provide up-to-date educational content, tools and other relevant resources timely, our ability to engage borrowers and financial services providers may suffer, which would harm our business, financial condition, and results of operations.

***We are making substantial investments in new product offerings and technologies and expect to increase such investments in the future. These efforts are inherently risky, and we may never realize any expected benefits from them.***

We have made substantial investments to develop new product offerings and technologies, including our data infrastructure and our matching engine, and we intend to continue investing significant resources in developing new technologies, tools, features, services, products, and product offerings. We expect to increase our investments in these new initiatives in the near term, which may result in lower margins. We also expect to spend substantial amounts as we seek to grow the verticals in which we operate our platform and increase our scale, and expand our offerings to additional geographic markets. If we do not spend our development budget efficiently or effectively on commercially successful and innovative technologies, we may not realize the expected benefits of our strategy. Our new initiatives also have a high degree of risk, as each involves strategies, technologies, and regulatory requirements with which we have limited or no prior development or operating experience. There can be no assurance that demand for such initiatives will exist or be sustained at the levels that we anticipate, or that any of these initiatives will gain sufficient traction or market acceptance to generate sufficient revenue to offset any new expenses or liabilities associated with these new investments. It is also possible that product offerings developed by others will render our product offerings non-competitive or obsolete. Further, our development efforts for new product offerings and technologies could distract management from current operations and will divert capital and other resources from our more established product offerings and technologies. Even if we are successful in developing new product offerings or technologies, regulatory authorities may subject us to new rules or restrictions in response to our innovations that could increase our expenses or prevent us from successfully commercializing new product offerings or technologies. If we do not realize the expected benefits of our investments, our business, financial condition and operating results may be harmed.

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***Our new product could fail to achieve the sales projections we expected.***

Our growth projections assume that with an increased advertising and marketing budget, our products will be able to gain traction in the marketplace at a faster rate than our current products. Our new products may fail to gain market acceptance for any number of reasons. If the new products fail to achieve significant sales and acceptance in the marketplace, this could materially and adversely impact the value of your investment.

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***The development and commercialization of our products are highly competitive.***

We face competition with respect to any products that we may seek to develop or commercialize in the future. Our competitors include major companies, some publicly listed like us, in the United States. Many of our competitors have significantly greater financial, technical, and human resources than we have and superior expertise in research and development and marketing approved products and thus may be better equipped than us to develop and commercialize products. These competitors also compete with us in recruiting and retaining qualified personnel and acquiring technologies. Smaller or early-stage companies may also prove to be significant competitors or disruptors, particularly through collaborative arrangements with large and established companies and/or some of our competitors. Accordingly, our competitors may commercialize products more rapidly or effectively than we can, which would adversely affect our competitive position, the likelihood that our products and services will achieve initial market acceptance and our ability to generate meaningful additional revenues from our products.

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***We must correctly predict, identify, and interpret changes in consumer preferences and demand, offer new features to meet those changes, and respond to competitive innovation.***

Consumer preferences may result in the need for our products to change continually. Our success depends on our ability to predict, identify, and interpret the tastes and habits of consumers and to offer products that appeal to consumer preferences. If we do not offer products that appeal to consumers, our sales and market share will decrease. We must distinguish between short-term fads, mid-term trends, and long-term changes in consumer preferences. If we do not accurately predict which shifts in consumer preferences will be long-term, or if we fail to introduce new and improved products to satisfy those preferences, our sales could decline. If we fail to expand our product offerings successfully across product categories, or if we do not rapidly develop products in faster growing and more profitable categories, demand for our products could decrease, which could materially and adversely affect our product sales, financial condition, and results of operations. In addition, achieving growth depends on our successful development, introduction, and marketing of innovative new products and line extensions.

Successful innovation depends on our ability to correctly anticipate customer and consumer acceptance, to obtain, protect and maintain necessary intellectual property rights, and avoid infringing the intellectual property rights of others and failure to do so could compromise our competitive position and adversely impact our business.

***We rely on the data provided to us by users and third parties to operate and improve our product offerings, and if we are unable to maintain and grow the use of such data, we may be unable to provide users with a platform experience that is relevant and effective, which would harm our business, financial condition, and results of operations.***

We analyze first-party data from users and may leverage third-party data from aggregators to understand our users' unique financial situations. The large amount of information we use in operating and improving our platform is critical to the experience we provide for our users. If we are unable to maintain, grow and efficiently handle the data provided to us, the value that we provide to borrowers and the quality of matches with financial services partners may be limited. In addition, if we do not maintain the quality, accuracy and timeliness of this information, user experience may suffer, which would harm our business, financial condition, and results of operations.

***Seasonal fluctuations and other market data in the investment real estate industry could adversely affect our business and make comparisons of our quarterly results difficult.***

Our revenue and profits have historically tended to be significantly higher in the second half of each year than in the first half of the year. This is a result of a general focus in the real estate industry on completing or documenting transactions by the calendar year-end and because certain of our expenses are relatively constant throughout the year. This historical trend can be disrupted both positively and negatively by major economic, regulatory, or political events impacting investor sentiment for a particular property type or location, current and future projections of interest rates and tax rates, the attractiveness of other asset classes, market liquidity and the extent of limitations or availability of capital allocations for larger institutional buyers, to name a few. As a result, our historical pattern of seasonality may or may not continue to the same degree experienced in the prior years and may make it difficult to determine, during the course of the year, whether planned results will be achieved, and thus to adjust to changes in expectations.

***Any insurance coverage we have might not be sufficient and uninsured losses may occur.***

We maintain minimum insurance coverage to protect us against a broad range of risks, at levels we believe are appropriate and consistent with current industry practice. Our objective is to exclude or minimize the risk of financial loss at a reasonable cost.

Nevertheless, we could still be subject to risks in the following areas, among others:

● losses that might be beyond the limits, or outside the scope, of coverage of our insurance and that may limit or prevent indemnification under our insurance policies;

● inability to maintain adequate insurance coverage on commercially reasonable terms in the future;

● certain categories of risks are currently not insurable at a reasonable cost; and

● no assurance of the financial ability of the insurance companies to meet their claim payment obligations.

Any one or more of these events could have an adverse effect on our business, financial position, profit, and cash flow.

Additionally, we cannot be certain that our insurance coverage will be adequate for data security liabilities incurred, will cover any indemnification claims against us relating to any incident, will be available to us on economically reasonable terms, or at all, or that any insurer will not deny coverage as to any future claim. The successful assertion of one or more large claims against us that exceed available insurance coverage, or the occurrence of changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, could adversely affect our reputation, business, financial condition and results of operations. Moreover, certain elements of our business model are novel and insurance industry may have difficulty underwriting the risks associated with our business. Therefore, our insurance providers might charge high premiums or do not offer insurance at all for certain risks we expect to incur.

***We rely on third-party service providers to support our platform and information technology systems.***

We rely on third-party service providers to provide critical services that help us deliver our products and operate our business, including hosting our platform. These providers may support or operate critical business systems for us or store or process the same sensitive, proprietary, and confidential information we handle. We do not have a redundant network or rapid disaster recovery capabilities in most cases for the services provided by third-party service providers. These service providers may not have adequate security measures and could experience a security incident that compromises the confidentiality, integrity, or availability of the systems they operate for us or the information they process on our behalf. Such occurrences could adversely affect our business to the same degree as if we had experienced these occurrences directly and we may not have recourse to the responsible third-party service providers for the resulting liability we incur.

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Any significant disruption to the infrastructure of our third-party service providers and/or any changes in our third-party service providers' service levels may significantly impact our business operations, including making our platform unavailable to our users. A lengthy interruption in the availability of our platform would result in a loss of matches with our lenders and corresponding revenue, which would impact our operating results and cash flow. In addition, it would negatively impact search engine ranking, user experience and our reputation with our lenders. Furthermore, if any of our agreements with our third-party service providers are terminated, we may experience significant costs or downtime in connection with the transfer to, or the addition of, new hosting providers. Although alternative providers could host our platform on a substantially similar basis, such a transition could potentially be disruptive, and we could incur significant costs in connection therewith.

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***We rely on operating system providers to support our platform, and any disruption, deterioration or change in their services, policies, practices, guidelines or terms of service could have a material adverse effect on our business, financial condition and results of operations.***

The success of our platform depends upon the effective operation of certain mobile operating systems, networks and standards that are run by operating system providers and app stores, or Providers. We do not control these Providers and, as a result, we are subject to risks and uncertainties related to the actions taken, or not taken, by these Providers.

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***Some of our products and services contain open-source software, which may pose particular risks to our proprietary software, products, and services in a manner that could negatively affect our business.***

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We use open-source software in our platform and anticipate continuing to use open-source software in the future. Some open-source software licenses require those who distribute open-source software as part of their software product to publicly disclose all or part of the source code of such software product or to make available any derivative works of the open-source code on unfavorable terms or at no cost, and we may be subject to such terms. The terms of certain open-source licenses to which we are subject have not been interpreted by the U.S. or foreign courts, and there is a risk that open-source software licenses could be construed in a manner that imposes unanticipated conditions or restrictions on our ability to provide or distribute our products or services. Additionally, we could face claims from third parties claiming ownership of, or demanding release of, the open-source software or derivative works that we develop using such software, which could include our proprietary source code or otherwise seeking to enforce the terms of the applicable open-source license. These claims could result in litigation and could require us to make our software source code freely available, purchase a costly license or cease offering the implicated products or services unless and until we can re-engineer such source code to eliminate the use of such open-source software. This re-engineering process could require us to expend significant additional research and development resources, and we may not be able to complete the re-engineering process successfully. In addition to risks related to license requirements, the use of certain open-source software can lead to greater risks than the use of third-party commercial software, as open-source licensors generally do not provide warranties, assurance of title or controls on the origin or operation of the open-source software, which are risks that cannot be eliminated, and could, if not properly addressed, negatively affect our business. We cannot be sure that all of our use of open-source software is in a manner that is consistent with our current policies and procedures or will not subject us to liability. Any of these risks could be difficult to eliminate or manage, and, if not addressed, would negatively affect our business, financial condition, and operating results.

***We may not be able to continue to obtain licenses to third-party software and intellectual property on reasonable terms or at all, which may disrupt our business and harm our financial results.***

We license third-party software and other intellectual property for use in connection with our platform, including for various third-party product integrations with our platform. Our third-party licenses typically limit our use of intellectual property to specific uses and include other contractual obligations with which we must comply. These licenses may need to be renegotiated or renewed from time to time, or we may need to obtain new licenses in the future. Third parties may stop adequately supporting or maintaining their offerings or they or their technology may be acquired by our competitors. If we are unable to obtain licenses to third-party software and intellectual property on reasonable terms or at all, the functionalities available through our platform may be adversely impacted, which could in turn harm our business. Further, if we or our third-party licensors were to breach any material term of a license, such a breach could, among other things, prompt costly litigation, result in the license being invalidated and or result in fines and other damages. If any of the following were to occur, it could harm our business, financial results, and our reputation.

We also cannot be certain that our licensors are not infringing the intellectual property rights of others or that our licensors have sufficient rights to the intellectual property to grant us the applicable licenses. Although we seek to mitigate this risk contractually, we may not be able to sufficiently limit our potential liability. If we are unable to obtain or maintain rights to any of this intellectual property because of intellectual property infringement claims brought by third parties against our licensors or against us, our ability to provide functionalities through our platform using such intellectual property could be severely limited and our business could be harmed. Furthermore, regardless of the outcome, infringement claims may require us to use significant resources and may divert management's attention.

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***We are dependent on internet search engines, in particular, Google, to direct traffic to our websites and refer new users to our platform. If search engines' algorithms, methodologies, or policies are modified or enforced in ways we do not anticipate, or if our search results page rankings decline for other reasons, traffic to our platform or user growth or engagement could decline, any of which would harm our business, financial condition, and results of operations.***

We are dependent on internet search engines, primarily Google, to direct traffic to our platform, including our website. Search engines, such as Google, may modify their search algorithms and policies or enforce those policies in ways that are detrimental to us, and without prior notice to us. If that occurs, we may experience significant declines in the organic search ranking of our search results, leading to a decrease in traffic to our platform. We have experienced declines in traffic and user growth as a result of these changes in the past and anticipate fluctuations as a result of such actions in the future.

In addition, Google may take action against websites for behavior that it believes unfairly influences search results. Our ability to appeal these actions is limited, and we may not be able to revise our content strategies to recover the loss in domain authority, page rankings, traffic or user growth resulting from such actions. Any significant reduction in the number of users directed to our website or mobile application from search engines would harm our business, revenue, and financial results.

***Claims by others that we infringed their proprietary technology or other intellectual property rights could harm our business.***

Companies in the internet and technology industries are frequently subject to litigation based on allegations of infringement, misappropriation or other violations of intellectual property rights. In addition, certain companies and rights holders seek to enforce and monetize patents or other intellectual property rights they own, have purchased, or have otherwise obtained. As we gain an increasingly high public profile, the possibility of intellectual property rights claims against us grows. Although we may have meritorious defenses, there can be no assurance that we will be successful in defending against these allegations or in reaching a business resolution that is satisfactory to us. Our competitors and others may now and in the future have patent portfolios that are used against us. In addition, future litigation may involve patent holding companies or other adverse patent owners who have no relevant product or service revenue and against whom our patents may therefore provide little or no deterrence or protection. Many potential litigants, including some of our competitors and patent-holding companies, have the ability to dedicate substantial resources to the assertion of their intellectual property rights. Any claim of infringement by a third-party, even those without merit, could cause us to incur substantial costs defending against the claim, could distract our management from our business and could require us to cease use of such intellectual property.

Furthermore, because of the substantial amount of discovery required in connection with intellectual property litigation, we risk compromising our confidential information during this type of litigation. We may be required to pay substantial damages, royalties or other fees in connection with a claimant securing a judgment against us, we may be subject to an injunction or other restrictions that prevent us from using or distributing our intellectual property, or from operating under our brand, or we may agree to a settlement that prevents us from distributing our offerings or a portion thereof, which could adversely affect our business, results of operations and financial condition.

With respect to any intellectual property rights claim, we may have to seek out a license to continue operations found or alleged to violate such rights, which may not be available on favorable or commercially reasonable terms and may significantly increase our operating expenses. Some licenses may be non-exclusive, and therefore our competitors may have access to the same technology licensed to us. If a third party does not offer us a license to its intellectual property on reasonable terms, or at all, we may be required to develop alternative, non-infringing technology, which could require significant time (during which we would be unable to continue to offer our affected offerings), effort and expense and may ultimately not be successful. Any of these events could adversely affect our business, results of operations and financial condition.

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***Our trademarks, copyrights, and other intellectual property could be unenforceable or ineffective***.

Intellectual property is a complex field of law in which few things are certain. Competitors may be able to design around our intellectual property, find prior art to invalidate it, or render the patents unenforceable through some other mechanism. If competitors can bypass our trademark and copyright protection without obtaining a sub-license, the Company's value will likely be materially and adversely impacted. This could also impair the Company's ability to compete in the marketplace. Moreover, if our trademarks and copyrights are deemed unenforceable, the Company will almost certainly lose any potential revenue it might be able to raise by entering into sub-licenses. This would cut off a significant potential revenue stream for the Company.

***The cost of enforcing our trademarks and copyrights could prevent us from enforcing them.***

Trademark and copyright litigation has become extremely expensive. Even if we believe that a competitor is infringing on one or more of our trademarks or copyrights, we might choose not to file suit because we lack the cash to successfully prosecute a multi-year litigation with an uncertain outcome, or because we believe that the cost of enforcing our trademark(s) or copyright(s) outweighs the value of winning the suit in light of the risks and consequences of losing it, or for some other reason. Choosing not to enforce our trademark(s) or copyright(s) could have adverse consequences for the Company, including undermining the credibility of our intellectual property, reducing our ability to enter into sublicenses, and weakening our attempts to prevent competitors from entering the market. As a result, if we are unable to enforce our trademark(s) or copyright(s) because of the cost of enforcement, your investment in the Company could be significantly and adversely affected.

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***Changes in government regulation could adversely impact our business.***

The Company is subject to legislation and regulation at the federal and local levels and, in some instances, at the state level. We expect that court actions and regulatory proceedings will continue to refine our rights and obligations under applicable federal, state, and local laws, which cannot be predicted. Modifications to existing requirements or imposition of new requirements or limitations could adversely impact our business.

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***Failure to obtain proper business licenses or other documentation or to otherwise comply with local laws and requirements regarding property management may result in civil or criminal penalties and restrictions on our ability to conduct business in that jurisdiction.***

Compliance with these requirements may render it more difficult for us and our financial services partners to operate or may raise our internal costs or the costs of our clients which may be passed on to us through less favorable commercial arrangements. While we have endeavored to comply with applicable requirements, the application of these requirements to persons operating online is not always clear and the failure to comply with any such applicable requirements may require us to expend significant capital and resources to investigate and remedy the noncompliance and subject us to litigation, regulatory enforcement action, fines, penalties, and other liability, which could adversely affect our business, financial condition and results of operations. Moreover, any of the licenses or rights currently held by us or our employees may be revoked prior to, or may not be renewed upon, their expiration. In addition, we or our employees may not be granted new licenses or rights for which they may be required to apply from time to time in the future.

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***Changes in the regulation of the internet, mobile carriers and their partners could negatively affect our business.***

Our business is dependent on the continued growth and maintenance of the internet's infrastructure, as well as our ability to market products through channels such as e-mail and voice and text messaging. There can be no assurance that the internet's infrastructure will continue to be able to support the demands placed on it by sustained growth in the number of users and amount of traffic. To the extent that the internet's infrastructure is unable to support the demands placed on it, our business may be impacted. We may also be disadvantaged by the adverse effect of any delays or cancellations of private sector or government initiatives designed to expand broadband access. The reduction in the growth of, or a decline in, broadband and internet access poses a risk to us.

In addition, federal, state, and international government bodies and agencies have in the past adopted, and may in the future adopt, laws and regulations affecting the use of the internet as a commercial medium. Changes in these laws or regulations could adversely affect the demand for our products and services or require us to modify our products and services to comply with these changes. Laws, rules, and regulations governing advertising and e-commerce through internet communications and mobile carriers and their partners are dynamic, and the extent of future government regulation is uncertain. Federal and state regulations govern various aspects of our online business, including intellectual property ownership, infringement, and misappropriation, concerning trade secrets, the distribution of electronic communications, marketing and advertising, data privacy and security, search engines and internet tracking technologies. Future taxation on the use of the internet or e-commerce transactions could also be imposed. Existing or future regulation or taxation could hinder growth in or negatively impact the use of the internet generally, including the viability of internet e-commerce, which could reduce our revenue, increase our operating expenses, and expose us to significant liabilities.

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***Security incidents or real or perceived errors, failures or bugs in our systems and platform could impair our operations, compromise our confidential information or our users' personal information, damage our reputation and brand, and harm our business and operating results.***

Our continued success depends on our systems, applications, and software continuing to operate and meet the changing needs of our customers and users and financial services partners. We rely on our technology and engineering staff and vendors to successfully implement changes to and maintain our systems and services efficiently and securely. Like all information systems and technology, our platform may contain or develop material errors, failures, vulnerabilities or bugs, particularly when new features or capabilities are released, and may be subject to computer viruses or malicious code, break-ins, phishing impersonation attacks, attempts to overload our servers with denial-of-service or other attacks, ransomware and similar incidents or disruptions from unauthorized use of our computer systems, as well as unintentional incidents causing data leakage, any of which could lead to interruptions, delays or shutdown of our platform.

Operating our business and products involves the collection, storage, use and transmission of large volumes of sensitive, proprietary and confidential information, including financial and personal information, pertaining to our current, prospective and past users, as well as our staff, contractors, and business partners. The security measures we take to protect this information may be breached as a result of computer malware, viruses, social engineering, ransomware attacks, account takeover attacks, hacking and cyberattacks, including by state-sponsored and other sophisticated organizations. Such incidents have become more prevalent in recent years. Our security measures could also be compromised by our personnel, theft, or errors, or be insufficient to prevent exploitation of security vulnerabilities in software or systems on which we rely. Such incidents may in the future result in unauthorized, unlawful or inappropriate use, destruction or disclosure of, access to, or inability to access the sensitive, proprietary, and confidential information that we handle. These incidents may remain undetected for extended periods.

Because there are many different cybercrime and hacking techniques and such techniques continue to evolve, we may be unable to anticipate attempted security breaches, react promptly or implement adequate preventative measures. While we have developed systems and processes designed to protect the integrity, confidentiality, and security of our and our users' confidential and personal information under our control, we cannot assure you that any security measures that we or our third-party service providers have implemented will be effective against current or future security threats.

A security breach or other security incident, or the perception that one has occurred, could result in a loss of confidence by both our users and financial services partners and damage our reputation and brand, reduce demand for our products, disrupt normal business operations, require us to expend significant capital and resources to investigate and remedy the incident and prevent a recurrence, and subject us to litigation, regulatory enforcement action, fines, penalties, and other liability, which could adversely affect our business, financial condition and results of operations. Even if we take steps that we believe are adequate to protect us from cyber threats, hacking against our competitors or other companies in our industry could create the perception among our users and financial services partners that our digital platform is not safe to use. Security incidents could also damage our IT systems and our ability to make the financial reports and other public disclosures required of public companies. These risks are likely to continue to increase as we continue to grow, process, store and transmit an increasingly larger and larger volume of data.

***We collect, store, use and otherwise process personal information, including financial information and other sensitive data, which subjects us to governmental regulation and other legal obligations related to data privacy and security. Our actual or perceived failure to comply with such obligations could harm our business.***

We collect, store, use and process personal information and other user data, including financial information, credit report information and other sensitive information for our Registered Users. We rely on this data provided to us by users and third parties to offer, improve and innovate our products. If we are unable to maintain and grow such data, we may be unable to provide borrowers with a platform experience that is relevant, efficient, and effective, which could adversely affect our business, financial condition and results of operations.

There are numerous federal, state, and local laws and regulations regarding data privacy and the storing, sharing, use, processing, disclosure and protection of personal information and other user data, the scope of which is changing and subject to differing interpretations. In addition, as we continue to expand internationally, we are subject to foreign data privacy and security laws and regulations. These data privacy laws and regulations are complex, continue to evolve, and on occasion may be inconsistent between jurisdictions leading to uncertainty in interpreting such laws. We are also subject to the terms of our privacy policies and privacy-related obligations to third parties, and, given the recent change in administration, we expect a heightened level of scrutiny on the financial data we handle. These laws, regulations, and other obligations may be interpreted and applied in a manner that is inconsistent from one regulatory body to another and may conflict with other rules or our practices.

Most of the jurisdictions in which we operate have established their data privacy and security legal frameworks. Failure to comply with these laws can result in regulatory fines or penalties. The California borrower Privacy Act (CCPA) created new data privacy rights for California-resident users that will be expanded when the California Privacy Rights Act (CPRA), which was approved in November 2020, goes into effect. In addition, Virginia recently passed the borrower Data Protection Act, which will go into effect at the same time as CPRA and many other states are considering enacting privacy laws. These laws, as well as any associated regulations, may increase our operating costs and potential liability (particularly in the event of a data breach), delay or impede the development of new products, and have a material adverse effect on our business, including how we use information about individuals, our financial condition and the results of our operations or prospects.

Any failure or perceived failure by us to comply with our privacy policies, our privacy-related obligations to users or other third parties, or our privacy-related legal obligations, or any compromise of security that results in the unauthorized release or transfer of personally identifiable information or other user data, may result in governmental enforcement actions, litigation or negative publicity and could cause our users and lenders to lose trust in us, which would have a material and adverse effect on our business. We may also be subject to remedies that may harm our business, including fines, demands or orders that we modify or cease existing or planned business practices.

***Data breaches or incidents involving our technology or products could damage its business, reputation and brand and substantially harm its business and results of operations.***

If the Company's data and network infrastructure were to fail, or if the Company were to suffer an interruption or degradation of services or other infrastructure environments, it could lose important manufacturing and technical data, which could harm its business. The Company's facilities, as well as the facilities of third parties that maintain or have access to the Company's data or network infrastructure, are vulnerable to damage or interruption from earthquakes, hurricanes, floods, fires, cyber security attacks, terrorist attacks, power losses, telecommunications failures and similar events. If the Company's or any third-party provider's systems or service abilities are hindered by any of the events discussed above, the Company's ability to operate may be impaired and its business could be adversely affected. A decision to close facilities without adequate notice, or other unanticipated problems, could adversely impact the Company's operations. The Company's infrastructure also could be subject to break-ins, cyber-attacks, sabotage, intentional acts of vandalism and other misconduct, from a spectrum of actors ranging in sophistication from threats common to most industries to more advanced and persistent, highly organized adversaries. Any security breach, including personal data breaches, or incident, including cybersecurity incidents, that the Company experiences could result in unauthorized access to, misuse of or unauthorized acquisition of its internal sensitive corporate data, such as financial data, intellectual property, or data related to contracts with commercial or government customers or partners. Such unauthorized access, misuse, acquisition, or modification of sensitive data may result in data loss, corruption or alteration, interruptions in the Company's operations or damage to the Company's computer hardware or systems or those of its employees and customers. Moreover, negative publicity arising from these types of disruptions could damage the Company's reputation.

Threats from malicious persons and groups, new vulnerabilities and advanced new attacks against information systems create a risk of cybersecurity incidents. These incidents can include but are not limited to, gaining unauthorized access to digital systems for purposes of misappropriating assets or sensitive information, corrupting data, or causing operational disruption. Because the techniques used to obtain unauthorized access, disable or degrade service, or sabotage systems change frequently and may not immediately produce signs of intrusion, the Company may be unable to anticipate these incidents or techniques, timely discover them or implement adequate preventative measures.

Over the past several years, cyber-attacks have become more prevalent and much harder to detect and defend against. The Company's network and storage applications may be vulnerable to cyber-attack, malicious intrusion, malfeasance, loss of data privacy or other significant disruption and may be subject to unauthorized access by hackers, employees, consultants or other service providers. In addition, hardware, software or applications the Company develops or procures from third parties may contain defects in design or manufacture or other problems that could unexpectedly compromise information security. Unauthorized parties may also attempt to gain access to the Company's systems or facilities through fraud, trickery or other forms of deceiving the Company's employees, contractors and temporary staff. As cyber threats continue to evolve, the Company may be required to expend significant additional resources to continue to modify or enhance its protective measures or to investigate and remediate any cybersecurity vulnerabilities. The Company does not currently have a cyber liability insurance policy and even if a policy is purchased, the Company cannot be certain that its coverage will be adequate for liabilities incurred or that insurance will continue to be available to it on economically reasonable terms, or at all.

The significant unavailability of the Company's services due to attacks could cause users to cease using the Company's services and materially adversely affect the Company's business, prospects, financial condition and results of operations. The Company uses software that it has developed, which the Company seeks to continually update and improve. Replacing such systems is often time-consuming and expensive and can also be intrusive to daily business operations. Further, the Company may not always be successful in executing these upgrades and improvements, which may occasionally fail its systems. The Company may experience periodic system interruptions from time to time. Any slowdown or failure of the Company's underlying technology infrastructure could harm its business, reputation and ability to execute its business plan, which could materially adversely affect its results of operations. The Company's disaster recovery plan or those of its third-party providers may be inadequate.

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***Expenses or liabilities resulting from litigation could materially adversely affect our results of operations and financial condition.***

We may become party to various legal proceedings and other claims that arise in the ordinary course of business, or otherwise in the future. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. In addition, any such claims or litigation may be time-consuming and costly, divert management resources, require us to change our platform, or have other adverse effects on our business. While we cannot assure the outcome of any legal proceeding or contingency in which we are or may become involved, we do not believe that any pending legal claim or proceeding arising in the ordinary course will be resolved in a manner that would have a material adverse effect on our business. However, if one or more of these legal matters resulted in an adverse monetary judgment against us, such a judgment could harm our results of operations and financial condition.

***Computer malware, viruses, ransomware, hacking, phishing attacks and similar disruptions could result in security and privacy breaches and interruptions and delays in services and operations, which could harm our business.***

Computer malware, viruses, physical or electronic break-ins and similar disruptions could lead to interruptions and delays in our services and operations and loss, misuse or theft of data. Computer malware, viruses, ransomware, hacking, phishing, and other attacks against online networks have become more prevalent and may occur on our systems in the future. We have implemented security measures, such as multi-factor authentication and security incident and event management tools. But any attempts by cyber attackers to disrupt our services or systems, if successful, could harm our business, introduce liability to data subjects, resulting in the misappropriation of funds, and be expensive to remedy and damage our reputation or brand. Insurance may not be sufficient to cover significant expenses and losses related to cyber-attacks. As cyber-attacks evolve, the cost of measures designed to prevent such attacks continues to increase, and we may not be able to cause the implementation or enforcement of such preventions with respect to our third-party vendors. Though it is difficult to determine what, if any, harm may directly result from any specific interruption or attack, any failure to maintain performance, reliability, security and availability of systems and technical infrastructure may, in addition to other losses, harm our reputation, brand and ability to attract customers.

Service disruptions, outages and other performance problems can be caused by a variety of factors, including infrastructure changes, cyber-security threats, third-party service providers, human or software errors and capacity constraints. If our services are unavailable when users attempt to access them, they may seek other services, which could reduce demand for our solutions from target customers.

We have processes and procedures in place designed to enable us to recover from a disaster or catastrophe and continue business operations. However, there are several factors ranging from human error to data corruption that could materially impact the efficacy of such processes and procedures, including by lengthening the time services are partially or fully unavailable to customers and users. It may be difficult or impossible to perform some or all recovery steps and continue normal business operations due to the nature of a particular disaster or catastrophe, especially during peak periods, which could cause additional reputational damages, or loss of revenues, any of which could adversely affect our business and financial results.

**<u>RISKS RELATED TO OUR REGULATORY ENVIRONMENT</u>**

***Our business may be subject to a variety of regulations, many of which are overlapping, ambiguous and still developing, which could subject us to claims or otherwise harm our business.***

Aspects of our business may be subject to a variety of federal and state financial and other laws, including laws and state licensing requirements financial products and services, privacy and data security, investment advisory services, and other laws that are frequently evolving and developing. The scope and interpretation of such laws are often uncertain and may be conflicting or ambiguous. It is difficult to predict how existing laws, some of which were enacted before the widespread adoption of the internet and mobile devices, will be applied to our business and the new laws to which we may become subject. In addition, as our business grows into new markets or expands and we collect, use and share more user data internally and with financial services partners, we may become subject to additional laws and regulations.

If we are not able to comply with applicable financial and other laws or regulations or if we become liable under these laws or regulations, we could be directly harmed, and we may be forced to implement new measures to reduce our exposure to this liability. This may require us to expend substantial resources or discontinue certain products or features, which would negatively affect our business. In addition, negative publicity resulting from regulatory actions against us or others in our industry could harm our reputation or otherwise impact the growth of our business. Any costs incurred to prevent or mitigate this potential liability could also harm our business, financial condition and operating results.

***Litigation, regulatory actions and compliance issues could subject us to significant fines, penalties, judgments, remediation costs or requirements resulting in increased expenses.***

In the ordinary course of business, we may be named as a defendant in various categories of legal actions, including class action lawsuits and other litigation. These legal actions are inherently unpredictable and, regardless of the merits of the claims, litigation is often expensive, time-consuming, disruptive to our operations and resources, and distracting to management. In addition, certain actions may include claims for indeterminate amounts of damages. Our involvement in any such matter also could cause significant harm to our or our lending partners' reputations and divert management attention from the operation of our business, even if the matters are ultimately determined in our favor. If resolved against us, legal actions could result in excessive verdicts and judgments, injunctive relief, equitable relief, and other adverse consequences that may affect our financial condition and how we operate our business.

In addition, many participants in the consumer financial services industry have been the subject of putative class action lawsuits, state attorney general actions and other state regulatory actions, and federal regulatory enforcement actions, including actions relating to alleged unfair, deceptive or abusive acts or practices, violations of state licensing and lending laws, including state usury and disclosure laws, actions alleging discrimination based on race, ethnicity, gender or other prohibited bases, and allegations of noncompliance with various state and federal laws and regulations relating to originating, servicing, and collecting consumer finance loans and other consumer financial services and products. The current regulatory environment increased regulatory compliance efforts and enhanced regulatory enforcement have resulted in us undertaking significant time-consuming and expensive operational and compliance improvement efforts, which may delay or preclude our or our bank partners' ability to provide certain new products and services. There is no assurance that these regulatory matters or other factors will not, in the future, affect how we conduct our business and, in turn, have a material adverse effect on our business. In particular, legal proceedings brought under state consumer protection statutes or under several of the various federal consumer financial services statutes may result in a separate fine assessed for each statutory and regulatory violation or substantial damages from class action lawsuits, potentially more than the amounts we earned from the underlying activities.

Some of our agreements used in the course of our business include arbitration clauses. If our arbitration agreements were to become unenforceable for any reason, we could experience an increase to our litigation costs and exposure to potentially damaging tenant-landlord lawsuits, with a potential material adverse effect on our business and results of operations.

We contest our liability and the amount of damages, as appropriate, in each pending matter. The outcome of pending and future matters could be material to our results of operations, financial condition and cash flows, and could materially adversely affect our business.

In addition, from time to time, through our operational and compliance controls, we identify compliance issues that require us to make operational changes and, depending on the nature of the issue, result in financial remediation to impacted clients and platform users. These self-identified issues and voluntary remediation payments could be significant, depending on the issue and the number of clients and platform users impacted and could generate litigation or regulatory investigations that subject us to additional risk.

**<u>RISKS RELATED TO TAXATION</u>**

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***We are subject to income taxes as well as non-income-based taxes, such as payroll, sales, use, value-added, net worth, property and goods and services taxes.***

Significant judgment is required in determining our provision for income taxes and other tax liabilities. In the ordinary course of our business, there are many transactions and calculations where the ultimate tax determination is uncertain. Although we believe that our tax estimates are reasonable: a) there is no assurance that the final determination of tax audits or tax disputes will not be different from what is reflected in our income tax provisions, expense amounts for non-income-based taxes and accruals, and b) any material differences could have an adverse effect on our financial position and results of operations in the period or periods for which determination is made.

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***We have made significant estimates and judgments in calculating our income tax provision and other tax assets and liabilities. If these estimates or judgments are incorrect, our operating results and financial condition may be materially affected.***

We are subject to regular review and audit by tax authorities. Any adverse outcome of such a review or audit could negatively affect our operating results and financial condition. In addition, the determination of our provision for income taxes and other tax assets and liabilities requires significant judgment, and there are many transactions and calculations where the ultimate tax determination is uncertain at the present time. Although we believe our estimates and judgments are reasonable, the ultimate tax outcome may differ from the amounts recorded in our financial statements and may have a material effect on our operating results and financial condition.

***Changes in tax laws could have a material adverse effect on our business, financial condition and results of operations.***

Changes in tax laws could have a material adverse effect on our business, financial condition and results of operations. For example, the Tax Cuts and Jobs Act passed in 2017 contained significant changes to U.S. tax law, including a reduction in the corporate tax rate and a moved towards a new territorial system of taxation. The primary impact of the Tax Act on our provision for income taxes was a reduction of the future tax benefits of our deferred tax assets as a result of the reduction in the corporate tax rate. The impact of the Tax Act may be subject to ongoing technical guidance and accounting interpretation, which we will continue to monitor and assess. As we expand the scale of our business activities, any changes in the U.S. taxation of such activities may increase our effective tax rate and harm our business, financial condition and results of operations.

We are subject to taxes in the United States under federal, state and local jurisdictions in which we operate. The governing tax laws and applicable tax rates vary by jurisdiction and are subject to interpretation and macroeconomic, political or other factors. We may be subject to examination in the future by federal, state and local authorities on income, employment, sales and other tax matters. While we regularly assess the likelihood of adverse outcomes from such examinations and the adequacy of our provision for taxes, there can be no assurance that such provision is sufficient and that a determination by a tax authority would not have an adverse effect on our business, financial condition and results of operations. Various tax authorities may disagree with tax positions we take and if any such tax authorities were to successfully challenge one or more of our tax positions, the results could adversely affect our financial condition. Further, the ultimate amount of tax payable in a given financial statement period may be impacted by sudden or unforeseen changes in tax laws, changes in the mix and level of earnings by taxing jurisdictions, or changes to existing accounting rules or regulations. The determination of our overall provision for income and other taxes is inherently uncertain as it requires significant judgment around complex transactions and calculations. As a result, fluctuations in our ultimate tax obligations may differ materially from amounts recorded in our financial statements and could adversely affect our business, financial condition and results of operations in the periods for which such determination is made.

***Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, gross receipts, value-added or similar taxes and may successfully impose additional obligations on us, and any such assessments or obligations could adversely affect our business, financial condition and results of operations.***

The application of indirect taxes, such as sales and use tax, value-added tax, goods and services tax, business tax and gross receipts tax, to platform businesses is a complex and evolving issue. Many of the fundamental statutes and regulations that impose these taxes were established before the adoption and growth of the internet and e-commerce. Significant judgment is required on an ongoing basis to evaluate applicable tax obligations and as a result, amounts recorded are estimates and are subject to adjustments. In many cases, the ultimate tax determination is uncertain because it is not clear how new and existing statutes might apply to our business. In addition, governments are increasingly looking for ways to increase revenue, which has resulted in discussions about tax reform and other legislative actions to increase tax revenue, including through indirect taxes. Such taxes could adversely affect our financial condition and results of operations.

We may face various indirect tax audits in various U.S. jurisdictions. In certain jurisdictions, we collect and remit indirect taxes. However, tax authorities may raise questions about or challenge or disagree with our calculation, reporting or collection of taxes and may require us to collect taxes in jurisdictions in which we do not currently do so or to remit additional taxes and interest, and could impose associated penalties and fees. A successful assertion by one or more tax authorities requiring us to collect taxes in jurisdictions in which we do not currently do so or to collect additional taxes in a jurisdiction in which we currently collect taxes, could result in substantial tax liabilities, including taxes on past sales, as well as penalties and interest, could harm our business, financial condition and results of operations. Although we have reserved for potential payments of possible past tax liabilities in our financial statements, if these liabilities exceed such reserves, our financial condition will be harmed.

As a result of these and other factors, the ultimate amount of tax obligations owed may differ from the amounts recorded in our financial statements and any such difference may adversely impact our results of operations in future periods in which we change our estimates of our tax obligations or in which the ultimate tax outcome is determined.

***Reclassification of Independent Contractors as Employees Could Increase Our Costs and Expose Us to Penalties.***

We engage certain tenant service providers as independent contractors. While we believe these individuals are properly classified as independent contractors under applicable laws, there is a risk that federal, state, or local authorities could challenge this classification. If these contractors are deemed to be employees, we could become liable for back taxes, including payroll taxes and unemployment insurance, as well as penalties. We may also be required to reimburse wages and benefits, such as overtime pay, health insurance, or retirement contributions. Additionally, reclassification claims could result in increased legal or administrative costs and potential disruptions to our operations. Changes in applicable laws, enforcement priorities, or interpretations of existing regulations could further increase the likelihood of reclassification, which could adversely affect our business, financial condition, and results of operations.

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**<u>RISKS RELATED TO THIS OFFERING AND OWNERSHIP OF OUR SECURITIES</u>**

 

***Concentration of ownership of our voting stock by the Controlling Group will prevent new investors from influencing significant corporate decisions.***

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Based on our common stock outstanding as of the date of this prospectus and including the shares to be sold in this Offering, upon the closing of this Offering, the Controlling Group, will, in the aggregate, beneficially own approximately 39.92% of our outstanding common stock and all 5,000 shares of our Series X Stock that provides for 1,000 votes per share when voting with the common stock, representing 67.03% of the total voting power of our capital stock. Thus, the Controlling Group, will be able to control all matters requiring stockholder approval, including the election and removal of directors and any merger or other significant corporate transactions. The interests of the Controlling Group may not coincide with the interests of other stockholders.

The Controlling Group may have interests different than yours and may vote in a way with which you disagree and that may be adverse to your interests. In addition, the Controlling Group's concentration of ownership could have the effect of delaying or preventing a change in control or otherwise discouraging a potential acquirer from attempting to obtain control of us, which could cause the market price of our Common Stock to decline or prevent our stockholders from realizing a premium over the market price for their common stock. In addition, he may want the Company to pursue strategies that deviate from the interests of other stockholders. Investors should consider that the interests of the common stock may differ from their interests in material respects.

***While we are seeking to list our common stock on Nasdaq, there is no assurance that either of such securities will be listed on Nasdaq. Even if we meet the initial listing requirements of the Nasdaq Capital Market, there can be no assurance that we will be able to comply with the continued listing standards of the Nasdaq Capital Market, a failure of which could result in a delisting of our securities.***

While we are seeking to list our common shares on Nasdaq, we cannot ensure that such securities will be accepted for listing on Nasdaq. Even if our common stock is listed on Nasdaq, Nasdaq requires that the trading price of its listed stocks remain above $1.00 for the stock to remain listed. If a listed stock trades below $1.00 for more than 30 consecutive trading days, then it is subject to delisting from the Nasdaq. In addition, to maintain a listing on the Nasdaq, we must satisfy minimum financial and other continued listing requirements and standards, including those regarding director independence and independent committee requirements, minimum stockholders' equity, and certain corporate governance requirements. If we are unable to satisfy these requirements or standards, we could be subject to delisting, which would have a negative effect on the price of our securities and would impair your ability to sell or purchase your securities when you wish to do so. In the event of a delisting, we would expect to take actions to restore our compliance with the listing requirements, but we cannot assure that any such action taken by us would allow our securities to become listed again, stabilize the market price or improve the liquidity of our securities, prevent our shares from dropping below the minimum bid price requirement, or prevent future non-compliance with the listing requirements.

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***The market price, trading volume and marketability of our securities may, from time to time, be significantly affected by numerous factors beyond our control, which may materially adversely affect the market price of your securities, the marketability of your securities and our ability to raise capital through future equity financings.***

The market price and trading volume of our securities may fluctuate significantly. Many factors that are beyond our control may materially adversely affect the market price of your securities, the marketability of your securities and our ability to raise capital through equity financings. These factors include the following:

● actual or anticipated variations in our periodic operating results,

● increases in market interest rates that lead investors of our securities to demand a higher investment return,

● changes in earnings estimates,

● changes in market valuations of similar companies,

● actions or announcements by our competitors,

● adverse market reaction to any increased indebtedness we may incur in the future,

● additions or departures of key personnel,

● actions by stockholders,

● speculation in the media, online forums, or investment community, and

● our intentions and ability to list our securities on Nasdaq and our subsequent ability to maintain such listing (if approved).

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***The requirements of being a public company may strain our resources, divert management's attention and affect our ability to attract and retain qualified board members.***

As a public company, we are subject to the reporting requirements of the Exchange Act, the Sarbanes-Oxley Act, the Dodd-Frank Act, the listing requirements of the Nasdaq Capital Markets and other applicable securities rules and regulations. Compliance with these rules and regulations will increase our legal and financial compliance costs, make some activities more difficult, time-consuming or costly and increase demand on our systems and resources, especially once we are no longer an "emerging growth company." The Exchange Act requires, among other things, that we file annual, quarterly and current reports with respect to our business and results of operations. In addition, we expect that our management and other personnel will need to divert their attention from operational and other business matters to devote substantial time to these public company requirements. We cannot predict or estimate the amount of additional costs we may incur as a result of becoming a public company or the timing of such costs.

We also expect that being a public company will make it more expensive for us to maintain director and officer liability insurance, and we may be required to accept reduced coverage, incur substantially higher costs to obtain coverage or only obtain coverage with a significant deductible. These factors could also make it more difficult for us to attract and retain qualified executive officers and qualified members of our Board of Directors, particularly to serve on our audit committee and compensation committee.

In addition, changing laws, regulations and standards relating to corporate governance and public disclosure are creating uncertainty for public companies, increasing legal and financial compliance costs and making some activities more time-consuming. These laws, regulations and standards are subject to varying interpretations in many cases due to their lack of specificity, and, as a result, their application in practice may evolve as new guidance is provided by regulatory and governing bodies. This could result in continuing uncertainty regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices. We invest resources to comply with evolving laws, regulations and standards, and this investment may result in increased general and administrative expenses and a diversion of management's time and attention from revenue-generating activities to compliance activities. If notwithstanding our efforts, we fail to comply with new laws, regulations and standards or our efforts differ from the activities intended by regulatory or governing bodies due to ambiguities related to their application and practice, regulatory authorities may initiate legal proceedings against us, and our business may be adversely affected.

***We are an "emerging growth company" and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our common stock less attractive to investors.***

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We are an "emerging growth company" as defined under the Section 2(a) of the Securities Act, and we intend to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging growth companies," including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, exemptions from the requirements of holding a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. In addition, emerging growth companies can delay the adoption of certain new or revised accounting standards until those standards would otherwise apply to private companies. We have elected to avail ourselves of this exemption from new or revised accounting standards and, therefore, we will not be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies or that have opted out of using such extended transition period, which may make a comparison of our financial statements with those of other public companies more difficult. We may take advantage of these exemptions for so long as we are an "emerging growth company." We cannot predict if investors will find our common stock less attractive to the extent that we rely on these exemptions. If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and the price of our common stock may be more volatile.

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***An active, liquid trading market for our securities may not be sustained, which may cause our securities to trade at a discount from the public offering price and make it difficult for you to sell the securities you purchase.***

Prior to this offering, there has not been an active trading market for our common stock. We cannot predict the extent to which investor interest in us will sustain a trading market or how active and liquid that market may remain. If an active and liquid trading market is not sustained, you may have difficulty selling any of our securities that you purchase at a price above the price you purchase it or at all. The failure of an active and liquid trading market to continue would likely have a material adverse effect on the value of our securities. The market price of our securities may decline below the public offering price, and you may not be able to sell your securities at or above the price you paid or at all. An inactive market may also impair our ability to raise capital to continue to fund operations by selling securities and may impair our ability to acquire other companies or technologies by using our securities as consideration.

***Our management has broad discretion as to the use of the net proceeds from this offering.***

Our management will have broad discretion in the application of the net proceeds of this offering. Accordingly, you will have to rely upon the judgment of our management with respect to the use of these proceeds. We intend to use the proceeds of this offering for business development, system development, and general corporate purposes, including capital expenditures and working capital. Our management may spend a portion or all of the net proceeds from this offering in ways that holders of our securities may not desire or that may not yield a significant return or any return at all. Our management not applying these funds effectively could harm our business. Pending their use, we may also invest the net proceeds from this offering in a manner that does not produce income or that loses value. See "*Use of Proceeds*" for more information.

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***You will experience immediate and substantial dilution as a result of this offering.***

As of March 31, 2025, our net book value (deficit) was approximately $0.9 million or approximately $0.17 per share. Since the price per share being offered in this offering is substantially higher than the as adjusted net tangible book value per common stock, you will suffer substantial dilution concerning the net tangible book value of the shares you purchase in this offering. Based on the assumed public offering price of $4.00 per share being sold in this offering, and our as adjusted net tangible book value per share as of March 31, 2025, if you purchase shares in this offering, you will suffer immediate and substantial dilution of $3.20 per share (or $3.12 per share if the underwriters exercise the over-allotment option in full) concerning the net tangible book value of our common stock. See "*Dilution*" for a more detailed discussion of the dilution you will incur if you purchase securities in this offering.

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***Future sales of our securities may affect the market price of our securities.***

We cannot predict what effect, if any, future sales of our securities, or the availability of securities for future sale, will have on the market price of our securities. Sales of substantial amounts of our securities in the public market, or the perception that such sales could occur, could materially adversely affect the market price of our securities and may make it more difficult for you to sell your securities at a time and price which you deem appropriate.

In addition, sales of the 100,000 shares of common stock by the selling stockholders could cause the price of our common stock to decline. Other than with respect to the securities being offered by us, the selling stockholders may have acquired their common stock at a price that is significantly below the initial public offering price. As a result, some or all of the selling stockholders may sell their shares in the public market for a price that may be below the initial public offering price. Except for our officers, directors and holders of 5% or more of our outstanding common stock as of the effective date of the registration statement of which this prospectus is a part that are selling stockholders, the selling stockholders have not entered into lock-up agreements with the underwriters. Any such sales by such selling stockholders could have an immediate adverse effect on the price of our common stock.

***A substantial portion of the outstanding shares of our common stock are restricted from immediate resale but may be sold on a stock exchange in the near future. The large number of shares of our capital stock eligible for public sale could depress the market price of our common stock.***

The market price of our common stock could decline as a result of sales of a large number of shares of our common stock in the market, and the perception that these sales could occur may also depress the market price of our common stock. In connection with our initial public offering, our executive officers, directors, and the holders of 5% or more of the outstanding shares of common stock as of the effective date of the registration statement of which this prospectus is a part entered or will enter into market standoff agreements with us, which restricts the sale of our shares of common stock, or enter into lock-up agreements with the underwriters under which they have agreed, subject to specific exceptions, not to sell any of our stock for 6 months after the closing of this offering. We refer to such period as the "lock-up period." For instance, we have entered into five joint ventures with five unaffiliated entities (collectively, the "Local Members") pursuant to which the Local Members from the date of consummation of this offering until the six (6)-month anniversary thereof or such longer period as required by the underwriters in connection with this offering, agree to lock up all shares received in all equity issuances consummated prior to the date of the consummation of this offering pursuant to a lock up agreement in form and substance satisfactory to us. In addition, the underwriters may, at their discretion, release all or some portion of the shares subject to lock-up agreements before the expiration of the lock-up period. Sales of a substantial number of such shares upon expiration, or the perception that such sales may occur, or early release of the lock-up, could cause our share price to fall or make it more difficult for you to sell your common stock at a time and price that you deem appropriate.

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***We may issue additional debt and equity securities, which are senior to our common stock as to distributions and in liquidation, which could materially adversely affect the market price of our securities.***

In the future, we may attempt to increase our capital resources by entering into additional debt or debt-like financing that is secured by all or up to all of our assets, or issuing debt or equity securities, which could include issuances of commercial paper, medium-term notes, senior notes, subordinated notes or shares. In the event of our liquidation, our lenders and holders of our debt securities would receive a distribution of our available assets before distributions to our stockholders.

Any additional preferred securities, if issued by our company, may have a preference with respect to distributions and upon liquidation, which could further limit our ability to make distributions to our common stockholders. Because our decision to incur debt and issue securities in our future offerings will depend on market conditions and other factors beyond our control, we cannot predict or estimate the amount, timing or nature of our future offerings and debt financing.

Further, market conditions could require us to accept less favorable terms for the issuance of our securities in the future. Thus, you will bear the risk of our future offerings reducing the value of your securities and diluting your interest in us. In addition, we can change our leverage strategy from time to time without the approval of holders of our common stock, which could materially adversely affect the market share price of our securities.

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

Since our incorporation, we have not declared or paid any cash dividends on our capital stock. We intend to continue with the same policy, and currently intend to retain any future earnings to finance the operation and expansion of our business, and we do not expect to declare or pay any dividends in the foreseeable future. In addition, the terms of our existing corporate debt agreements do, and any future debt agreements may preclude us from paying dividends. As a result, capital appreciation of our common stock, if any, will be the only way for stockholders to realize any future gains on their investment in the foreseeable future.

***Our potential future earnings and cash distributions to our stockholders may affect the market price of our securities.***

Generally, the market price of our securities may be based, in part, on the market's perception of our growth potential and our current and potential future cash distributions, whether from operations, sales, acquisitions or refinancings, and on the value of our businesses. For that reason, our securities may trade at prices that are higher or lower than our net asset value per share. Should we retain operating cash flow for investment purposes or working capital reserves instead of distributing the cash flows to our stockholders, the retained funds, while increasing the value of our underlying assets, may materially adversely affect the market price of our securities. Our failure to meet market expectations with respect to earnings and cash distributions and our failure to make such distributions, for any reason whatsoever, could materially adversely affect the market price of our securities.

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***Were our securities to be considered a penny stock, and therefore become subject to the penny stock rules, U.S. broker-dealers may be discouraged from effecting transactions in our securities.***

Our securities may be subject to the penny stock rules under the Exchange Act. The SEC rules define a "penny stock," as any equity security that has a market price of less than $5.00 per share or with an exercise price of less than $5.00 per share, subject to certain exceptions. For any transaction involving a penny stock, unless exempt, broker-dealers that derive more than 5% of their customer transaction revenues from transactions in penny stocks are required to deliver a standardized risk disclosure document that provides information about penny stocks, and the nature and level of risks in the penny stock market, to any non-institutional customer to whom the broker-dealer recommends a penny stock transaction. The broker-dealer must also provide the customer with the current bid and offer quotations for the penny stock, the compensation of the broker-dealer and its salesperson and monthly account statements showing the market value of each penny stock held in the customer's account. The bid and offer quotations and the broker-dealer and salesperson compensation information must be given to the customer orally or in writing before completing the transaction and must be given to the customer in writing before or with the customer's confirmation. In addition, the penny stock rules require that before a transaction, the broker and/or dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser's written agreement to the transaction. The transaction costs associated with penny stocks are high, reducing the number of broker-dealers who may be willing to engage in the trading of our securities. These additional penny stock disclosure requirements are burdensome and may reduce all the trading activity in the market for our securities. As long as our securities are subject to the penny stock rules, the holders of our securities may find it more difficult to sell their securities and cause a decline in the market value of our stock.

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***Our common stock market price and trading volume could decline if equity or industry analysts do not publish research or publish inaccurate or unfavorable research about our business.***

The trading market for our common stock will depend in part on the research and reports that equity or industry analysts publish about us or our business. The analysts' estimates are based upon their own opinions and are often different from our estimates or expectations. If one or more of the analysts who cover us downgrade our common stock or publish inaccurate or unfavorable research about our business, the price of our securities would likely decline. If few securities analysts commence coverage of us, or if one or more of these analysts cease coverage of us or fail to publish reports on us regularly, demand for our securities could decrease, which might cause the price and trading volume of our common stock to decline.

**<u>GENERAL RISK FACTORS</u>**

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***We may make decisions based on the best interests of our users to build long-term trust that may result in us forgoing short-term gains.***

One of our fundamental values is to build our business by making decisions based on the best interests of our users, which we believe has been essential to our success in building user trust in our platform and increasing our user growth rate and engagement. We believe this best serves the long-term interests of our company and our stockholders. In the past, we have forgone, and we may in the future continue to forgo, certain expansion or short-term revenue opportunities that we do not believe are in the best interests of our platform and our users, even if such decisions adversely affect our results of operations in the short term.

***We may not be able to expand into new markets.***

While a key part of our business strategy is to engage users in our existing markets, we also intend to expand our operations into new markets. In doing so, we may incur losses or otherwise fail to enter new markets successfully. Our expansion into new markets may place us in unfamiliar competitive environments and involve various risks, including competition, government regulation, the need to invest significant resources and the possibility that returns on such investments will not be achieved for several years or at all. Many factors could negatively affect our ability to grow our user base and engagement, including if:

● we lose users to new market entrants and/or existing competitors;

● we do not obtain regulatory approvals necessary for expansion into new verticals, geographies or to launch new product features and tools;

● we fail to effectively use search engines, social media platforms, digital app stores, content-based online advertising, and other online sources for generating traffic to our platform;

● our platform experiences disruptions or outages;

● we suffer reputational harm to our brand including from negative publicity, whether accurate or inaccurate;

● we fail to expand geographically;

● we fail to offer new and competitive products, provide effective updates to our existing products or keep pace with technological improvements in our industry;

● technical or other problems frustrate the user experience;

● we are unable to address user concerns regarding the content, privacy, and security of our digital platform;

● we are unable to continue to innovate and improve our platform by generating compelling content and tools;

● existing or new financial services providers use incentives to directly cross-sell their products, reducing borrower benefits of using multiple providers; or

● we are unable to successfully launch new verticals.

Our inability to overcome these challenges could impair our ability to engage users and could harm our business, operating results, and financial condition.

***The occurrence of natural disasters may adversely affect our business, financial condition and results of operations following our business combination.***

The occurrence of natural disasters, including hurricanes, floods, earthquakes, tornadoes, fires and pandemic diseases may adversely affect our business, financial condition or results of operations. The potential impact of a natural disaster on our results of operations and financial position is speculative and would depend on numerous factors. The extent and severity of these natural disasters determine their effect on a given economy. Although the long-term effect of diseases such as the COVID-19 "coronavirus," H5N1 "avian flu," or H1N1, the swine flu, cannot currently be predicted, previous occurrences of avian flu and swine flu had an adverse effect on the economies of those countries in which they were most prevalent. An outbreak of a communicable disease in our market could adversely affect our business, financial condition and results of operations, and timely reporting obligations under the current offering. We cannot assure you that natural disasters will not occur in the future or that our business, financial condition and results of operations will not be adversely affected.

***Our results of operations could be adversely affected by health outbreaks such as the COVID-19 pandemic.***

A significant outbreak, epidemic or pandemic of contagious diseases in any geographic area in which we operate or plan to operate could result in a health crisis adversely affecting the economies, financial markets and overall demand for our services in such areas. In addition, any preventative or protective actions that governments implement or that we take in response to a health crisis, such as travel restrictions, quarantines, or site closures, may interfere with the ability of our employees, suppliers and customers to perform their responsibilities. Such results could have a material adverse effect on our business development.

The continued global COVID-19 pandemic has created significant volatility, uncertainty and economic disruption. The extent to which the COVID-19 pandemic continues to impact our business, operations and financial results will depend on numerous evolving factors that we may not be able to accurately predict, including the duration and scope of the pandemic, governmental, business and individuals' actions, including vaccination requirements, that have been and continue to be taken in response to the pandemic, the impact of the pandemic on economic activity and actions taken in response, the effect on future suppliers demand for our processing technologies and our future customers' demand for our products, any closures of our and our suppliers' or customers' offices and facilities, and the need for enhanced health and hygiene requirements or social distancing or other measures in attempts to counteract future outbreaks in our offices and facilities. Potential business partners may also slow down decision-making, delay planned work or seek to terminate existing agreements. Any of these events could adversely affect our business development and financial condition.

To the extent the COVID-19 pandemic or a similar public health threat has an impact on our business, it is likely to also have the effect of heightening many of the other risks described in this "*Risk Factors*" section.

***Damage to our reputation could negatively impact our business, financial condition, and results of operations.***

Our reputation and the quality of our brand are critical to our business and success in existing markets and will be critical to our success as we enter new markets. Any incident that erodes consumer loyalty for our brand could significantly reduce its value and damage our business. We may be adversely affected by any negative publicity, regardless of its accuracy. Also, there has been a marked increase in the use of social media platforms and similar devices, including blogs, social media websites and other forms of internet-based communications that provide individuals with access to a broad audience of consumers and other interested persons. The availability of information on social media platforms is virtually immediate as is its impact. The information posted may be adverse to our interests or may be inaccurate, each of which may harm our performance, prospects or business. The harm may be immediate and may disseminate rapidly and broadly, without affording us an opportunity for redress or correction.

***The Russian-Ukrainian Conflict may adversely affect our business, financial condition and results.***

In February 2022, the Russian Federation and Belarus commenced military action against Ukraine. The specific impact on our financial condition results of operations, and cash flows is not determinable as of the date hereof. However, to the extent that such military action spreads to other countries, intensifies, or otherwise remains active, or that other countries or military alliances become directly involved or increase their involvement in the war, such action could have a material adverse effect on our financial condition, results of operations, and cash flows.

**USE OF PROCEEDS**

After deducting the estimated underwriters' commissions and estimated offering expenses payable by us, we expect to receive net proceeds of approximately $4.1 million from this offering (or approximately $4.8 million if the underwriters exercise their over-allotment option in full), based on an assumed initial public offering price of $4.00 per share.

We currently anticipate an approximate allocation of the net proceeds from this offering as follows:

---

| | |
|:---|:---|
| Business development | $1000000 |
| System development | 2500000 |
| Working capital and general corporate purposes | 616125 |
| **TOTAL** | $4116125 |

---

We may change the amount of net proceeds to be used specifically for any of the foregoing purposes. The amounts and timing of our actual expenditures will depend upon numerous factors, including our sales and marketing and commercialization efforts, demand for our products, our operating costs and the other factors described under "Risk Factors" in this prospectus. Accordingly, our management will have significant discretion and flexibility in applying the net proceeds from this offering. Pending any use, as described above, we intend to invest the net proceeds in high-quality, short-term, interest-bearing securities.

We do not currently have any intention of using the net proceeds of this offering for any acquisitions nor do we have any verbal or written agreements with any third parties. However, the board might decide to use some of the net proceeds for an acquisition if the Company becomes aware of a suitable target company.

Each $1.00 increase (decrease) in the assumed initial public offering price of $4.00 per share would increase (decrease) the net proceeds to us from this offering by approximately $1.1 million, assuming the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting underwriting discounts and commissions and estimated offering expenses payable by us. Each increase (decrease) of 500,000 in the number of shares we are offering would increase (decrease) the net proceeds to us from this offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by us, by approximately $[●] million, assuming the assumed initial public offering price stays the same.

**DIVIDENDS AND DIVIDEND POLICY**

Since our inception, we have not declared or paid any cash dividends on our capital stock. We intend to continue with the same policy, and currently intend to retain all available funds and any future earnings to support our operations and finance the growth and development of our business. Any future determination related to our dividend policy will be made at the discretion of our board of directors, subject to applicable laws, and will depend upon, among other factors, our results of operations, financial condition, capital requirements, contractual restrictions, business prospects and other factors our board of directors may deem relevant, and subject to the restrictions contained in any future financing instruments.

**CAPITALIZATION**

The following table sets forth our capitalization as of March 31, 2025:

● on an actual basis;

● on a pro forma basis, which includes the effect of a) the 50,000 shares issued in April 2025 pursuant to the Joint Venture Agreements, using a preliminary fair value of $2.00 per share and b) the issuance of 200,000 shares of Series B Preferred Stock for an aggregate purchase price of $800,000 as of the date of this prospectus.

● on an as-adjusted basis to reflect the issuance of 1,250,000 shares of common stock in this offering, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. The table below assumes no exercise by the underwriters of their over-allotment option.

The as adjusted information below is illustrative only and our capitalization following the completion of this offering is subject to adjustment based on the public offering price of the shares of our common stock and other terms of this offering determined at pricing. You should read this table together with our financial statements and the related notes included elsewhere in this prospectus and the information under "*Management's Discussion and Analysis of Financial Condition and Results of Operations*."

---

| | | | |
|:---|:---|:---|:---|
|  | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** |
|  | **Actual** | **Pro Forma** | **As<br> Adjusted (1)(2)** |
| Cash | $48725 | $848725 | $4464850 |
| Due to related parties | 673083 | 673083 | 673083 |
| Future equity obligations | 25000 | 25000 | - |
| Total liabilities | 698083 | 698083 | 673083 |
| Common stock subject to possible redemption, $0.001 par value, 10,000 shares issued and outstanding, actual, 60,000 shares issued and outstanding, pro forma, 0 shares as adjusted | 20000 | 120000 |  |
| Stockholders' equity: |  |  |  |
| Preferred stock, $0.001 par value, 10,000,000 shares authorized |  |  |  |
| Series X preferred stock, 5,000 shares issued and outstanding, actual, pro forma and as adjusted | 5 | 5 | 5 |
| Series B preferred stock, 1,250,000 shares authorized, 0 shares issued and outstanding, actual, 75,000 shares issued and outstanding, pro forma, 0 shares issued and outstanding, as adjusted |  | 75 |  |
| Common stock, $0.001 par value, 190,000,000 shares authorized, 5,091,391 shares issued and outstanding, actual, 5,091,391 issued and outstanding, pro forma, 6,795,439 shares issued and outstanding, as adjusted | 5092 | 5092 | 6795 |
| Additional paid-in capital | 324713 | 1124638 | 5460743 |
| Retained earnings | 1010490 | 1010490 | 610490 |
| Total stockholders' equity | 1340300 | 2140300 | 6078033 |
| Total capitalization | $2038383 | $2838383 | $6751116 |

---

(1) As adjusted reflects the
 sale of 1,250,000 shares of our common stock in this offering at the assumed public offering of $4.00 per share, and after deducting
 the estimated underwriting discounts and commissions and estimated offering expenses payable by us.

(2) The number of shares of
 common stock outstanding after this offering is based on 5,151,391 shares of common stock issued and outstanding as of June 5, 2025
 and an aggregate of 1,644,047 shares of common stock issuable upon the closing of this offering, consisting of the following
 shares:

● 1,250,000 shares of common stock to be issued in this offering;

● 8,333 shares of common stock upon the automatic conversion of $25,000 of the 2023 SAFE (assuming an initial public offering price of $4.00);

● 100,000 shares of common stock to be issued at the closing of this offering to certain advisors of the Company in consideration for services rendered by Blake Elliot Inc. as compensation pursuant to certain advisory agreement dated May 6, 2024; and

● 285,714 shares of common stock issuable upon the conversion of 200,000 shares of Series B Preferred Stock (based on an assumed offering price of $4.00).

The number of outstanding shares immediately following this offering excludes:

● 587,975 shares of our common stock issuable upon the exercise of outstanding stock options issued under our 2025 Plan, at a weighted-average exercise price of $2.08 per share;

● 175,733 shares of our common stock reserved for future issuance under our 2025 Plan, as well as any automatic increases in the number of shares of our common stock reserved for future issuance under our 2025 Plan; and

● 50,000 shares of common stock issuable upon the exercise of the Representative's Warrants.

The table above does not account for the Representative's Warrants, which will be issued upon the closing of this offering. The Representative's Warrants are determined to be equity-classified instruments as per ASC 815. As the Representative's Warrants will be issued in connection with the shares of common stock sold in this offering, the Representative's Warrants will be accounted for as offering costs per ASC 340. As such, there will be no net effect to stockholders' equity upon the offering.

**DILUTION**

If you invest in our shares in this offering, your ownership will be diluted immediately to the extent of the difference between the public offering price per share and the as adjusted net tangible book value per common stock immediately after this offering. Dilution in net tangible book value per share to new investors is the amount by which the offering price paid by the purchasers of the shares sold in this offering exceeds the as adjusted net tangible book value per common stock after this offering. Net tangible book value per share is determined at any date by subtracting our total liabilities from the total book value of our tangible assets and dividing the difference by the number of shares of common stock deemed to be outstanding at that date.

As of March 31, 2025, our net tangible book value (deficit) was $0.9 million, or $0.17 per share.

Our pro forma net tangible book value as of March 31, 2025, was $1.7 million, or $0.30 per share, as adjusted to give effect to a) the 50,000 shares issued in April 2025 pursuant to the Joint Venture Agreements, using a preliminary fair value of $2.00 per share and b) the issuance of 200,000 shares of Series B Preferred Stock for an aggregate purchase price of $800,000 as of the date of this prospectus.

Pro forma net tangible book value also includes the issuance of an aggregate of 394,047 shares of common stock consisting of: (i) the issuance of 8,333 shares of common stock upon the automatic conversion of $25,000 of the 2023 SAFE, calculated assuming an initial public offering price of $4.00; (ii) 100,000 shares of common stock to be issued at the closing of this offering to certain advisors of the Company in consideration for services rendered and (iii) 285,714 shares of common stock issuable upon the conversion of 200,000 shares of Series B Preferred Stock.

After giving effect to our sale of 1,250,000 shares in this offering at an assumed public offering price of $4.00 per share and after deducting the underwriting discounts and commissions and estimated offering expenses, our pro forma as adjusted net tangible book value (deficit) as of March 31, 2025 would have been approximately $5.8 million, or approximately $0.86 per share. This amount represents an immediate increase in net tangible book value of $0.56 per share to existing stockholders and an immediate dilution in net tangible book value of $3.14 per share to purchasers of our shares in this offering, as illustrated in the following table.

Dilution per share to new investors is determined by subtracting pro forma as adjusted net tangible book value per share after this offering from the initial public offering price per share paid by new investors. The following table illustrates this dilution:

---

| | | |
|:---|:---|:---|
| Assumed initial public offering price per share |  | $4.00 |
| Historical net tangible book value (deficit) per share as of March 31, 2025 | $0.17 |  |
| Increase in pro forma net tangible book value per share | $0.13 |  |
| Pro forma net tangible book value per share |  | $0.30 |
| Increase in pro forma as adjusted net tangible book value per share attributable to payments by new investors | $0.56 |  |
| Pro forma as adjusted net tangible book value per share immediately after this offering |  | $0.86 |
| Dilution per share to new investors purchasing shares in this offering |  | $3.14 |

---

The number of common stock outstanding immediately following this offering excludes:

● 187,500 shares of common stock issuable upon the exercise of the underwriter's over-allotment option; and

● 50,000 shares of common stock issuable upon the exercise of the Representative's Warrants.

A $1.00 increase or decrease in the assumed public offering price of $4.00 per share, would increase or decrease the net tangible book value per share after this offering by approximately $0.85 and dilution in net tangible book value per share to new investors by approximately $1.98, assuming that the number of shares offered by us, as set forth on the cover page of this prospectus, remains the same and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

The following table sets forth, on a pro forma basis, the differences between the number of shares of common stock purchased from us, the total price and average price per share paid by existing stockholders and by the new investors, before deducting offering and acquisition expenses payable by us, using the public offering price of $4.00 per share.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares Purchased** | **Shares Purchased** | **Total Consideration** | **Total Consideration** | |
|  | **Number** | **Percentage** | **Number** | **Percentage** | **Average<br> Price**<br>**Per Share** |
| Existing stockholders before this offering | 5545439 | 81.6% | $1129805 | 18.4% | $0.20 |
| Investors participating in this offering | 1250000 | 18.4% | 5000000 | 81.6% | $4.00 |
| Total capitalization | 6795439 | 100.0% | $6129805 | 100.0% |  |

---

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

*Our financial statements are prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). These accounting principles require us to make certain estimates, judgments and assumptions. We believe that the estimates, judgments and assumptions upon which we rely are reasonable based upon information available to us at the time that these estimates, judgments and assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Our financial statements would be affected to the extent there are material differences between these estimates and actual results. In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require management's judgment in its application. There are also areas in which management's judgment in selecting any available alternative would not produce a materially different result. The following discussion should be read in conjunction with our financial statements and notes thereto appearing elsewhere in this prospectus.*

 

**Overview**

Collab Z Inc., through its subsidiary, Collab CA LLC, has developed its pioneering Collab Platform, a first-of-its-kind Community-Based Property Management model that is designed to replace traditional property management practice by enabling community involvement and by leveraging modern technology, including artificial intelligence features currently under development. Our approach actively involves tenants and other skilled community members in the management process, handling leasing and daily operations in a way that minimizes conflicts of interest and improves tenant satisfaction. With a four-year lead over new market entrants and the ability to scale instantly without local staffing, Collab Z uniquely positions itself against both traditional property management firms and SaaS-based ProTech competitors.

Our mission is to democratize property management and to foster a more engaged community of tenants, property owners, and professional service providers to maximize asset value and to create a sustainable, decentralized organization that benefit all stakeholders involved.

Our vision is to revolutionize the real estate sector by maximizing community engagement in their living and working spaces for an autonomous and collaborative living experience.

We are committed to innovation, focusing on delivering substantial long-term value to our shareholders and improving the quality of life for our property owners, tenants, Community Pros, or CPs, and professional service providers. As we expand, our Collab Platform will continue to lead the shift towards a more connected and engaged property management ecosystem.

**The Current Industry Challenges, Our Solution, and Our Opportunity**

The Challenge

The property management industry faces longstanding inefficiencies and high costs due to outdated value chain structures. Collab Z has identified key pain points and opportunities for transformation:

&nbsp;&nbsp;&nbsp;&nbsp;1. Inefficiency in Traditional
 Models: Legacy property management structures are bloated with excessive layers of human oversight and reliance on third-party service
 providers. This increases management costs, creates long lead times, reduces transparency, and often results in misaligned interests
 between stakeholders.

&nbsp;&nbsp;&nbsp;&nbsp;2. Low Tenant Satisfaction:
 Traditional systems overlook the potential contributions of tenants who are willing to assist with routine tasks, such as communications,
 minor repairs, maintenance requests, and leasing coordination. This underutilization contributes to lower tenant satisfaction, higher
 turnover rates, and poorly maintained properties.

&nbsp;&nbsp;&nbsp;&nbsp;3. Scalability Challenges:
 Traditional models struggle to scale across multiple properties and regions due to their dependence on local staffing and manual
 processes. This increases operational complexity and limits growth opportunities.

&nbsp;&nbsp;&nbsp;&nbsp;4. Lag in Technology Adoption:
 Compared to other industries, property management has been slow to adopt disruptive technologies that could overhaul outdated operational
 models. This presents a significant opportunity for innovation.

**Our Solution**

Collab Z has developed its Collab Platform, a community-based property management solution that directly connects tenants with property management tasks, offering them financial incentives to contribute to their living environment and foster stronger community connections.AI-enhanced features for our Collab Platform are currently under development, with phased launches planned over an 18-month period starting in early 2025.

Our model enhances occupancy rate, eliminates unnecessary management layers, reduces operating expenses, and improves tenant satisfaction by delivering responsive services through Community Pros and professional service providers. Also, the Collab Platform enables faster entry into new market without building local teams.

As part of this model, Community Pros ("CPs") are tenants who assist with property management tasks, such as leasing showings, minor repairs, administrative work, and Customer support, in exchange for financial incentives.

For repair and maintenance tasks requiring specialized expertise, professional service providers (licensed contractors such as HVAC, plumbing, and electrical repair specialists) handle the work.

CPs play a coordination and communication role, similar to property managers, contacting professional service providers, scheduling service appointments, and ensuring that repairs are completed as expected in a timely manner.

**Our Opportunity**

According to IBIS World, the property management industry reached $128.3 billion in revenue by the end of 2024, growing at a CAGR of 2.0%. As the first community-based property management solution, Collab Z is positioned to revolutionize this massive market.

With over 300,000 property management companies and 20 million rental properties in the U.S. (Sources: Truelist, February 2024; Rubyhome, August 2023), the opportunity for disruption is immense. The Collab Platform is designed to:

● Streamline operations

● Enhance tenant engagement

● Maximize property value

By applying a community-driven model and planning the integration of AI-powered features currently under development, Collab Z addresses longstanding inefficiencies while scaling across the nation's extensive rental property network.

**Certain Key Factors Affecting Our Performance**

The performance of our business depends on a number of factors. While each of these areas presents significant opportunities for us, they also pose challenges and risks that we must address to sustain the growth of our business and improve our results of operations. See the section titled "*Risk Factors*" for additional information on the various challenges and risks we face as we look to grow our business model.

**Trends, Events and Uncertainties**

As a company operating in the real estate technology sector, we face various external factors that could impact our operational results and financial stability:

&nbsp;&nbsp;&nbsp;&nbsp;1. **Economic Conditions**:
 Our operations are sensitive to economic fluctuations, particularly changes in the real estate market and broader economic indicators
 such as GDP growth, interest rates, and employment levels. Shifts in these areas can affect demand for our services. For instance,
 favorable economic conditions typically bolster demand, whereas economic downturns or periods of significant market volatility might
 result in higher vacancy rates and reduced rental prices. This in turn negatively impacts our revenue streams.

&nbsp;&nbsp;&nbsp;&nbsp;2. **Regulatory Environment**:
 Changes in regulations related to real estate, technology, and data privacy can significantly affect our operational practices and
 compliance costs. For instance, local and federal housing policies, including rent control measures, zoning laws, and affordable
 housing mandates, can significantly impact operational strategies and profitability.

&nbsp;&nbsp;&nbsp;&nbsp;3. **Technological Advancements**:
 The fast pace of technological change requires continuous investment in our technology to stay competitive. Innovations by competitors
 could render our current offerings less attractive if not promptly addressed.

&nbsp;&nbsp;&nbsp;&nbsp;4. **Market Adoption and Competitive Landscape**: The adoption rate of our community-based solutions, along with the intensity of competition, can influence
 our market position and pricing strategies. A slower-than-expected adoption rate or increased competition could adversely affect
 our financial performance.

**Key Metrics**

To effectively manage our business and gauge our performance, we focus on several key operational and financial metrics:

&nbsp;&nbsp;&nbsp;&nbsp;1. Customer Acquisition Costs
 (CAC): This metric measures the average cost incurred to secure new property management customers, reflecting the efficiency of our
 marketing and sales strategies. To date, the majority of our managed properties have been sourced through related-party relationships.
 Because these engagements did not require direct marketing or sales efforts, associated acquisition costs have been minimal and are
 not representative of broader customer acquisition efforts. As a result, we have not historically tracked CAC in a standardized or
 reportable format across all properties. However, beginning in early 2025, we began managing a property owned by a non-related third
 party, and plan to add additional third-party properties to our portfolio. Management is currently in the process of building a standardized
 methodology for calculating CAC and intends to implement internal systems that will enable us to report this metric consistently.
 As we scale our third-party portfolio, CAC will become an increasingly relevant indicator of operating efficiency and sales effectiveness.

&nbsp;&nbsp;&nbsp;&nbsp;2. Occupancy Rate of the properties
 managed by Collab Z: Tracks the percentage of units currently rented out in our managed properties. A high occupancy rate reflects
 strong market demand and the effectiveness of our property management services. We consistently maintain near-full occupancy, with
 rates of approximately 97% and 99% as of 2023, and 2024, respectively, surpassing the industry average of ~95% (Source: Medium, January
 2025)

&nbsp;&nbsp;&nbsp;&nbsp;3. Net Operating Income (NOI)
 of properties managed by Collab Z: NOI is a key measure of profitability and operational performance at the property level. Across
 our managed portfolio, Collab Z has delivered NOI margins ranging from approximately 30% to 72% over the past two fiscal years. These
 variations reflect the nature of our diversified portfolio, which includes Class A, B, and C properties with varying age and condition,
 as well as differences in operational stage such as lease-up, renovation, or repositioning. This performance reflects our ability
 to drive operational efficiency and cost control through our community-based property management model.

&nbsp;&nbsp;&nbsp;&nbsp;4. Customer Retention Rate:
 We define retention as the continuation of management contracts with property owners over time. Since we began operations in 2021,
 we have retained management of 100% of the properties in our portfolio, except in instances where ownership of the property has changed.
 While most of these properties are owned by related parties, we believe this consistency reflects the reliability of our service
 model and our ability to meet ownership expectations. As we expand into third-party markets, we plan to continue tracking retention
 as a key measure of owner satisfaction and operational quality.

&nbsp;&nbsp;&nbsp;&nbsp;5. Profit margin of Collab
 Z: Our company-level profit margin measures the percentage of revenue that translates into profit, reflecting the effectiveness of
 our cost controls and pricing strategy. Collab Z achieved an operating profit margin of 15% for the fiscal year ended September 30,
 2023, and 52% for the fiscal year ended September 30, 2024. The significant increase in profit margin was primarily driven by the
 recognition of EB-5 management fees in 2024, which carry higher margins compared to our core property management services. As we
 plan to phase out the EB-5 business within the next year and concentrate on expanding our core property management business, we expect
 our future profit margins will adjust accordingly in future reporting periods.

**Components of Operating Results**

 ****

***Revenue***

The Company earns revenue from the following streams:

*Property Management*

 

The Company provides property management services for rental properties that include various elements based on the underlying contractual agreement. The Company earns a fixed percentage of monthly lease income. This revenue is recognized on an ongoing, monthly basis. The Company earns additional fees based on a fixed percentage of property-related expenses such as repairs and maintenance at the time the underlying costs are incurred. The Company, at times, is also eligible to earn commissions on the first month of a new lease agreement. Certain managed properties include a profit share arrangement based on guaranteed rental income whereby the Company shares in the excess rental income over the guaranteed amounts. No losses have been incurred based on these guarantees. The Company recognizes this revenue at the point in time the excess rental income is known.

*Development and Construction Management*

 

The Company provides services consisting of the oversight of property development and construction projects, including budget monitoring and timeline management. Development fees are recognized on an ongoing monthly basis through the completion of the service period.

*Procurement*

 

The Company facilitates procurement of materials and supplies for construction projects, particularly from international sources. Procurement fees are recognized at a point in time upon the completion of the procurement service, which is shipment of the related materials.

*Renovation Management*

 

Renovation management services include assisting in the acquisition, renovation, and disposition of properties. Renovation fees are recognized on an ongoing, monthly basis through the completion of the service period, which is based on the time elapsed of the renovation project. The Company also earns renovation service fees, which are recognized over time as the project progresses based on the actual costs incurred of the underlying renovation project. Acquisition fees are recognized at a point in time after the acquisition of the property.

*EB-5 Immigration Investor Services*

The Company identifies EB-5 immigration investment projects and assists investors with project identification, assistance and support during the project application process. Fees are recognized at a point in time upon the fulfillment of the EB-5 service obligations, which is when the EB-5 application package has been submitted. Payments are billed in two tranches, and any deferred revenue is recognized once performance obligations are met.

*Consulting Services*

The Company provides consulting services to third parties that are defined by service agreements. Consulting services may include terms whereby there is a set of deliverables required for which revenue will be recognized at a point in time when the deliverables are satisfied, or may relate to services that are performed periodically and recognized over time. Each contract is assessed for performance obligations. There is generally no right of return or refund related to these services.

A disaggregation of revenue for the six months ended March 31, 2025 and 2024 and years ended September 30, 2024 and 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **March 31,** | **March 31,** | **September 30,** | **September 30,** |
|  | **2025** | **2024** | **2024** | **2023** |
| Property management | $357414 | $271634 | $579083 | $474409 |
| Development and construction management | 119514 | 28500 | 94500 | 107500 |
| Procurement | 48708 | 15000 | 237188 | 22500 |
| Renovation management | - | 98615 | 252814 | 29438 |
| &nbsp;&nbsp;&nbsp;Revenue - related parties | 525636 | 413749 | 1163585 | 633847 |
| EB-5 immigrant investor services |  |  | 690000 |  |
| Consulting income | 270000 |  |  |  |
| Property management-third party | 12549 | - | - | - |
| &nbsp;&nbsp;&nbsp;Revenue | 282549 | - | 690000 | - |
| &nbsp;&nbsp;&nbsp;Total revenue | $808185 | $413749 | $1853585 | $633847 |

---

***Cost of Revenues***

Cost of revenue includes operations personnel supporting the Company's real estate services, specifically those personnel who work directly on property management as well as development, construction, renovation and EB-5 projects. Cost of revenue also includes software costs incurred to maintain the Company's property management system, as well as amortization of capitalized software costs.

***Operating Expenses***

*Sales And Marketing*

Our sales and marketing costs consists primarily of salaries and other related costs for business development personnel and advertising and marketing costs. We expect that our sales and marketing expense will increase significantly on an absolute dollar basis and vary from period-to-period as a percentage of revenue for the foreseeable future as we focus on building out our third-party customer facing organization and expanding our brand.

*General and Administrative Expense*

Our general and administrative expenses consist primarily of salaries and other related costs for personnel in our executive, finance, corporate development and administrative functions. General and administrative expense also includes professional fees for legal, accounting, information technology, travel, insurance, software costs and expenses related to our operations at our headquarters, including rent.

We expect that our general and administrative expense will increase on an absolute dollar basis and vary from period-to-period as a percentage of revenue for the foreseeable future as we focus on processes, systems and controls to enable our internal support functions to scale with the growth of our business. We expect to incur increased expenses associated with being a public company, including costs of accounting, audit, legal, regulatory and tax compliance services, costs related to compliance with the rules and regulations of the Securities and Exchange Commission (the "SEC") and exchange listing standards, higher director and officer insurance costs, and investor and public relations costs.

***Other Income (Expense)***

 

Other income (expense) primarily includes interest expense on the Company's outstanding debt.

**Results of Operations**

***Comparison of Six Months Ended March 31, 2025 and 2024***

 ****

The following table sets forth key components of our results of operations for the six months ended March 31, 2025 and 2024, both in dollars and as a percentage of our net revenues.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended March 31,** | **Six Months Ended March 31,** | **Six Months Ended March 31,** | **Six Months Ended March 31,** |
|  | **2025** | **2025** | **2024** | **2024** |
|  | **Amount** | **% of<br> revenues** | **Amount** | **% of<br> revenues** |
| Revenue - related parties | $525636 | 65% | $413749 | 100% |
| Revenue - other | 282549 | 35% | - | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 808185 | 100% | 413749 | 100% |
| Cost of revenue | 185957 | 23% | 76342 | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 622228 | 77% | 337407 | 82% |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 10248 | 1% | 12358 | 3% |
| &nbsp;&nbsp;&nbsp;General and administrative | 466555 | 58% | 256796 | 62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 476803 | 59% | 269154 | 65% |
| Income from operations | 145425 | 18% | 68253 | 16% |
| Other income (expense): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest income | 17351 | 2% |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | (23006) | -3% |  | 0% |
| &nbsp;&nbsp;&nbsp;Other income | 1418 |  | - | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense | (4237) | -3% |  | 0% |
| Provision for income taxes | - | 0% | - | 0% |
| Net income | $141188 | 17% | $68253 | 16% |

---

*Revenue*

Related party revenue increased by $111,887 for the six months ended March 31, 2025 to $525,636 as compared to $413,749 in the prior period. The increase was due to an increase in development and construction management revenue of $91,014, an increase of property management of $85,780 and an increase of procurement revenue of $33,708 partially offset by a decrease in renovation management revenue of $98,615.

Other revenue was $282,549 for the six months ended March 31, 2025, consisting of consulting fees performed and property management services to a third party.

*Cost of Revenue*

 

Cost of revenue was $185,957 for the six months ended March 31, 2025 as compared to $76,342 in 2024. The increase was due to the higher revenues in 2025.

*Sales and Marketing*

 

Sales and marketing expenses decreased by $2,110 for the six months ended March 31, 2025 compared to the prior period. This decrease was primarily due to lower personnel costs assisting with business development.

*General and Administrative*

General and administrative expenses increased by $209,759 for the six months ended March 31, 2025 compared to the prior period. This increase was primarily due to higher personnel costs and professional services as we expanded our operations.

*Other Income (Expense)*

 

Other income (expense) was ($4,237) and $0 for the six months ended March 31, 2025 and 2024, respectively, which primarily consisted of interest expense on the Company's outstanding line of credit in 2025.

*Net Income*

 

Net income was $141,188 for the six months ended March 31, 2025 as compared to a net income of $68,253 for the prior period. The increase of $72,935 was primarily due to higher revenues and gross profit in 2025, partially offset by increased operating expenses.

***Comparison of Years Ended September 30, 2024 and 2023***

The following table sets forth key components of our results of operations for the years ended September 30, 2024 and 2023, both in dollars and as a percentage of our net revenues.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2024** | **2024** | **2023** | **2023** |
|  | **Amount** | **% of<br> revenues** | **Amount** | **% of<br> revenues** |
| Revenue - related parties | $1163585 | 63% | $633847 | 100% |
| Revenue | 690000 | 37% | - | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 1853585 | 100% | 633847 | 100% |
| Cost of revenue | 219283 | 12% | 202072 | 32% |
| &nbsp;&nbsp;&nbsp;Gross profit | 1634302 | 88% | 431775 | 68% |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 47874 | 3% | 55451 | 9% |
| &nbsp;&nbsp;&nbsp;General and administrative | 622401 | 33% | 281416 | 44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 670275 | 36% | 336867 | 53% |
| Income from operations | 964027 | 52% | 94908 | 15% |
| Other expense: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | (13607) | -1% | (80) | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense | (13607) | -1% | (80) | 0% |
| Provision for income taxes | - | 0% | - | 0% |
| Net income | $950420 | 51% | $94828 | 15% |

---

*Revenue*

Related party revenue increased by $529,738 for the year ended September 30, 2024 to $1,163,585 as compared to $633,847 in the prior year. The increase was due to an increase in procurement revenue of $214,688, an increase of renovation management fees of $223,376, an increase in property management fees of $104,674 and a decrease in development and construction management fees of $13,000. In 2024, the Company began new renovation and development projects on certain properties, as well as increased fees on existing properties. Therefore, the Company generated higher revenues across all real estate revenue sources.

Other revenue increased by $690,000 for the year ended September 30, 2024 as compared to the prior year. Other revenue consists of EB-5 immigration investor services, which the Company began performing in late 2023.

*Cost of Revenue*

 

Cost of revenue was $219,283 for the year ended September 30, 2024 as compared to $202,072 in 2023.

The increase was primarily due to $20,345 in non-cash compensation expense attributable to shares issued for services in 2024.

*Sales and Marketing*

 

Sales and marketing expenses decreased by $7,577 for the year ended September 30, 2024 compared to the prior year. This decrease was primarily due to lower personnel costs assisting with business development.

*General and Administrative*

General and administrative expenses increased by $340,985 for the year ended September 30, 2024 compared to the prior year. This increase was primarily due to higher professional services, as we expanded our operations, as well as $120,287 in non-cash compensation expense attributable to shares issued for services.

*Other Expense*

 

Other expense was $13,607 for the year ended September 30, 2024, which consisted of interest expense on the Company's outstanding line of credit.

*Net Income*

 

Net income was $950,420 for the year ended September 30, 2024 as compared to $94,828 for the prior year. The increase in net income of $855,592 was primarily due to higher revenues and gross profit in 2024, partially offset by increased operating expenses.

**Liquidity and Capital Resources**

Our principal liquidity requirements are for working capital, business development and system development. We fund our liquidity requirements primarily through cash on hand, cash flows from operations, proceeds from related parties and debt financing.

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company had $48,725 in cash as of March 31, 2025, and $491,834 in amounts due from related parties. The Company is heavily reliant on related parties as its primary revenue and cash flow sources and has historically generated revenues from sources that may not be recurring.

The Company is in its early-stage, and expects to incur significant costs to expand its operations and conduct its business plan, which may result in future losses if it cannot effectively market its products and achieve market acceptance.

*Management's Plans* 

Management believes substantial doubt has been alleviated based on the following:

The net accounts receivable, due to and from related parties balances at March 31, 2025, which have been or are expected to be fully collected and paid, provide for a net positive effect to cash of approximately $0.35 million. These funds are expected to provide the Company with operating capital sufficient to cover basic operations. In addition, the Company is seeking to raise capital via an equity offering. In the event the Company does not complete an offering, the Company expects to seek additional funding through private equity, debt and/or related party financings or use its existing line of credit to provide additional operating capital. The Company may not be able to obtain financing on acceptable terms, or at all.

***Cash Flows***

Liquidity activity is shown for the six months ended March 31, 2025 and 2024 and years ended September 30, 2024 and 2023. The following is a summary of the Company's cash flows provided (used in) operating, investing, and financing activities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Year Ended** | **Year Ended** |
|  | **March 31,** | **March 31,** | **September 30,** | **September 30,** |
|  | **2025** | **2024** | **2024** | **2023** |
| Net cash provided by (used in) operating activities | $128796 | $199861 | $1257920 | $(413173) |
| Net cash provided by (used in) investing activities | 1237974 | (318445) | (2619677) | 618783 |
| Net cash provided by (used in) financing activities | (1423079) | 164786 | 1450878 | (207691) |
| Net change in cash | $(56309) | $46202 | $89121 | $(2081) |

---

*Net Cash Provided by (Used in) Operating Activities*

Cash provided by operating activities was $128,796 for the six months ended March 31, 2025 as compared to $199,861 for the prior period. Cash provided during the six months ended March 31, 2025 was primarily due to our net income of $141,188, partially offset by cash used in operating assets and liabilities of $55,059. Cash provided during the six months ended March 31, 2024 was primarily due to our net income of $68,253 and cash provided by operating assets and liabilities of $119,608.

Cash provided by/(used in) operating activities was $1,257,920 for the year ended September 30, 2024 as compared to ($413,173) for the year ended September 30, 2023. Cash provided during the year ended September 30, 2024 was primarily due to our net income of $950,420, non-cash charges of $173,521 and cash provided by operating assets and liabilities of $133,979. Cash used during the year ended September 30, 2023 was primarily due to cash used in operating assets and liabilities of $558,001 driven by increases in accounts receivable and decreases in accounts payable and accrued expenses, partially offset by our net income of $94,828.

*Net Cash Provided by (Used in) Investing Activities*

Cash provided by investing activities for the six months ended March 31, 2025 was primarily due to the net repayment of due from related parties of $2,065,199 and repayment of loan receivable of $662,275, partially offset by the issuance of loan receivable of $1,470,000 and a software capitalization of $19,500. Cash used in investing activities for the six months ended March 31, 2024 was due to $238,445 in net advances to related parties and a software capitalization of $80,000.

Cash provided by (used in) investing activities was ($2,619,777) and $618,783 for the years ended September 30, 2024 and 2023, respectively. Investing activities in 2024 were primarily due to net advances to related parties of $2,459,677, which included $2,259,850 in advances to YRQ Irrevocable Trust for the purpose of providing working capital to the Company's related entities. The Company also incurred capitalized software development costs of $160,000 in 2024. Investing activities in 2023 consisted of net repayments of due from related parties of $618,783.

*Net Cash Provided by (Used in) Financing Activities*

Cash used in financing activities for the six months ended March 31, 2025 included $642,854 in net repayments of a line of credit, $631,833 in net repayments to related parties and $148,392 in capitalized deferred offering costs. Cash provided by financing activities for the six months ended March 31, 2024 included $246,433 in net advances from related parties and member contributions of $63,000, partially offset by $144,647 in member distributions.

Cash provided by (used in) financing activities was $1,450,878 and $(207,691) for the years ended September 30, 2024 and 2023, respectively. During 2024, the Company received $1,080,800 in net advances from related parties, $2,442,854 in proceeds from the Company's revolving line of credit, $168,435 in member contributions, partially offset by line of credit repayments of $1,800,000 and member distributions of $441,211. During 2023, the Company had net repayments of amounts due to related parties of $163,039, $25,000 in SAFE proceeds, $52,000 from member contributions, partially offset by member distributions of $121,652.

***Debt***

 

*Revolving Line of Credit*

 

On March 14, 2024, the Company entered into a revolving line of credit agreement with East West Bank for a principal amount of $2,000,000. The loan matures on March 14, 2026, is secured by an assignment of a deposit account held by Collab CA's former member, YRQ Irrevocable Trust, and is intended exclusively for business operations. The loan has a variable interest rate based on the interest rate of the collateral's certificate of deposit plus 1.5%. The initial rate is set at 5.905%. The loan request monthly interest payments, and full repayment of principal and accrued interest due at maturity.

 

During the six months ended March 31, 2025, the Company borrowed an aggregate of $1,300,000, which was used to provide a loan to a third party (see Note 4). As of December 31, 2024, the outstanding balance of the line of credit was $1,942,854. From January 2025 to February 2025, the Company paid off the line of credit with the funds from the collection of due from related parties and receivables.

*Future Equity Obligations*

In April 2023, the Company entered into a SAFE agreement for proceeds of $25,000 with an investor. The SAFE has a valuation cap of $50,000,000 and a discount of 25%, which will be applied to the valuation of the Company at the time of the triggering event in order to calculate the price per share for the investor.

The SAFE will convert into equity upon the occurrence of a future qualified financing round of at least $10,000,000 or another triggering event, including the event of a merger, acquisition or initial public offering ("IPO") as contemplated in this offering. The SAFE will convert into an amount of shares undeterminable until an offering price for this offering is established. We expect to issue 8,333 shares of common stock to the investor at a 75% discounted price of $3.00 per share assuming a public offering price of $4.00.

As of March 31, 2025 and September 30, 2024, the fair value of the SAFE was $25,000 and $25,000, respectively. See Note 4 for fair value disclosures.

 

*Due to Related Parties*

 

Due to related parties includes cash advances received from various related parties. These advances are unsecured, due on demand and non-interest bearing. As of March 31, 2025 and September 30, 2024 and 2023, the amounts outstanding were $673,083, $1,304,916 and $224,116, respectively.

**Critical Accounting Policies and Significant Judgments and Estimates**

This discussion and analysis of our financial condition and results of operations is based on our financial statements, which have been prepared in accordance with generally accepted accounting standards in the United States ("GAAP"). The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported expenses incurred during the reporting periods. Our estimates are based on our historical experience and on various other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. While our significant accounting policies are described in more detail in the notes to our financial statements included elsewhere in this prospectus, we believe that the following accounting policies are critical to understanding our historical and future performance, as these policies relate to the more significant areas involving management's judgments and estimates.

We believe our most critical accounting policies and estimates relate to the following:

*Revenue Recognition*

The Company recognizes revenue from services in accordance with Financial Accounting Standards Board ("**FASB**") Accounting Standards Codification ("**ASC**") Topic 606, Revenue from Contracts with Customers ("**ASC 606**"). Under ASC 606, the Company recognizes revenue when or as the Company's performance obligations are satisfied by transferring control of the promised services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps as prescribed by ASC 606:

&nbsp;&nbsp;&nbsp;&nbsp;(i) identify the contract(s)
 with a customer;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) identify the performance
 obligations in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;(iii) determine the transaction
 price;

&nbsp;&nbsp;&nbsp;&nbsp;(iv) allocate the transaction
 price to the performance obligations in the contract; and

&nbsp;&nbsp;&nbsp;&nbsp;(v) recognize revenue when
 (or as) the entity satisfies performance obligations.

The Company only applies the five-step model to contracts when it is probable that it will collect substantially all the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract, the performance obligations in each contract and whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The Company has applied ASC 606 on a portfolio basis. The Company has elected the practical expedients, allowing the recognition of incremental costs of obtaining a contract as an expense when incurred, and not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less.

*Stock-Based Compensation* 

We record stock-based compensation in accordance with ASC 718, *Compensation-Stock Compensation*. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employee's required service period, which is generally the vesting period.

*Common Stock Valuations* 

An "established trading market" for the Company's common stock does not exist. The fair value of the shares of common stock was determined based on public company comparables, specifically microcap companies in similar industries including PropTech and technology platform services. The Company then applied a discount factor accounting for the private to public discount and minority interest discount, which was estimated using comparable valuations.

Following the completion of this offering, the fair value of our common stock will be based on the closing price as reported on the date of grant on the primary stock exchange on which our common stock is traded.

**Recently Issued and Adopted Accounting Pronouncements** 

A description of recently issued and adopted accounting pronouncements that may potentially impact our financial position and results of operations is disclosed in Note 2 to our financial statements appearing at the end of this prospectus.

**Off-Balance Sheet Arrangements** 

The Company has a minimum rental guarantee for certain related party managed properties whereby the Company will pay the difference between the collected rent and the minimum rent guarantee. These guarantees require the Company to ensure a specified minimum gross revenue each month. Should the properties' gross revenues fall below these thresholds, the Company is required to compensate for the shortfall. The maximum potential amount of future payments under these guarantees is estimated based on historical occupancy rates and market trends to project potential future shortfalls. The minimum rent guarantee thresholds are calculated annually based on the local market occupancy rates and prevailing market rental rates. The minimum rent guarantee terms are stipulated to last for the duration of the property management agreements unless terminated by either party or amended by mutual consent. These agreements can be terminated by either party by providing 30 days' notice.

As of the issuance date of these consolidated financial statements, the maximum potential rental guarantees were approximately $102,000 per month. Since entering into these terms, the Company has achieved occupancy rates at all properties at or above market rental rates. As such, there have been no shortfall payments incurred by Collab Z to date.

During the periods presented, we did not have, nor do we currently have, any other off-balance sheet arrangements as defined under SEC rules.

 ****

**Quantitative and Qualitative Disclosures about Market Risk** 

We are exposed to market risks in the ordinary course of our business. These risks primarily include interest rate risks and inflation risks. Periodically, we maintain deposits in accredited financial institutions in excess of federally insured limits. We deposit our cash in financial institutions that we believe have high credit quality and have not experienced any losses on such accounts and do not believe we are exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships.

*Interest Rate Risk* 

Our cash consists of cash in readily available checking accounts. We may also invest in short-term money market fund investments. Such interest-earning instruments carry a degree of interest rate risk, however, historical fluctuations in interest income have not been significant.

 ****

*Inflation Risk* 

Inflation generally affects us by increasing our cost of labor. We do not believe inflation has had a material effect on our results of operations during the periods presented

**Emerging Growth Company** 

We are an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended (the "**Securities Act**"), as modified by the Jumpstart Our Business Startups Act of 2012. For so long as we remain an emerging growth company, we are permitted and intend to rely on exemptions from specified disclosure requirements that are applicable to other public companies that are not emerging growth companies. These exemptions include:

● being permitted to provide only two years of audited financial statements, in addition to any required unaudited interim financial statements, with correspondingly reduced "*Management's Discussion and Analysis of Financial Condition and Results of Operations*" disclosure;

● not being required to comply with the requirement of auditor attestation of our internal controls over financial reporting;

● not being required to comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor's report providing additional information about the audit and the financial statements;

● reduced disclosure obligations regarding executive compensation; and

● not being required to hold a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved.

We have taken advantage of certain reduced reporting requirements in this prospectus. Accordingly, the information contained herein may be different than the information you receive from other public companies in which you hold stock.

An emerging growth company can also take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. This allows an emerging growth company to delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to use this exemption from new or revised accounting standards during the period in which we remain an emerging growth company; however, we have and may adopt certain new or revised accounting standards early.

We will remain an emerging growth company until the earlier of (i) the last day of the fiscal year following the fifth anniversary of the date of the first sale of our securities pursuant to an effective registration statement under the Securities Act; (ii) the last day of the fiscal year in which we have total annual gross revenues of $1.235 billion or more; (iii) the date on which we have issued more than $1 billion in nonconvertible debt during the previous three years; or (iv) the date on which we are deemed to be a large accelerated filer under applicable SEC rules. We expect that we will remain an emerging growth company for the foreseeable future but cannot retain our emerging growth company status indefinitely and will no longer qualify as an emerging growth company on or before the last day of the fiscal year following the fifth anniversary of the date of the first sale of our securities pursuant to an effective registration statement under the Securities Act.

**BUSINESS**

**<u>Corporate History</u>**

We were incorporated in Nevada on May 10, 2024, for the purpose of reorganizing our structure and to become the holding company for Collab LLC.

In September 2024, we issued an aggregate of 5,060,391 shares of our common stock in a private placement to certain initial investors pursuant to certain securities purchase agreements dated September 16, 2024 (the "Private Placement"), including an aggregate of 2,656,000 shares of common stock to the Controlling Group, comprised of 2,462,500 shares issued to YRQ Trust, 33,500 shares issued to SDZ-1-2022 Trust, 140,000 shares issued to SDZ-2-2022 Trust and 20,000 shares issued to Shui Dui Zi Irrevocable Family Trust. The trustees and beneficiaries of YRQ Trust are immediate family members of Mr. Qian Wang, our founder and former Chairman, who is the trustee of the SDZ-1-2022 Trust, the SDZ-2-2022 Trust and the Shui Dui Zi Irrevocable Family Trusts.

On October 3, 2024, we filed a Certificate of Designation with the Secretary of State of Nevada that authorized us to issue up to 5,000 shares of Series X Preferred Stock, par value $0.001 per share, and provides for 1,000 votes per share when voting together with the common stock. The Company issued all of the shares of Series X Preferred Stock to the YRQ Trust.

On December 11, 2024, we cancelled an aggregate of 4,519,500 shares of common stock pursuant to certain cancellation and release agreements dated December 11, 2024, in order to correct a structural error, which was remedied by the Reorganization Agreement (as defined below).

In December 2024, Collab LLC became a direct, wholly owned subsidiary of the Company through the closing of a share exchange pursuant to a Reorganization Agreement and Plan of Share Exchange dated December 30, 2024 (the "Reorganization Agreement" or "Reorganization"). Pursuant to the Reorganization, the sole member of Collab LLC, YRQ Trust, exchanged 100% of their member interests for a total of 4,550,500 shares of the Company's common stock. As a result, Collab LLC became a direct, wholly owned subsidiary of the Company. Collab Z Inc. is a holding company and carries out all its operations through its subsidiaries. Collab LLC is our main operating subsidiary.

On January 2, 2025, YRQ Trust assigned 1,838,000 of its shares of common stock (the "Assigned Shares") that it had received in the Reorganization to family irrevocable trusts, friends and family members of the beneficiaries of YRQ Trust (the "Assignment"). Following the Assignment, YRQ Irrevocable Trust owns 2,712,500 shares of common stock and 5,000 shares of Series X Preferred Stock. The Assigned Shares are held directly by the recipients and are no longer considered beneficially owned by YRQ Trust.

On June 5, 2025, we filed a Certificate of Designation with the Secretary of State of Nevada that authorized us to issue up to 1,250,000 shares of Series B Preferred Stock with a stated value of $4.00 per share. Pursuant to a securities purchase agreement, dated May 27, 2025, we sold 75,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $300,000.

**<u>Description of the Business</u>**

Collab Z has developed its pioneering Collab Platform, a first-of-its-kind Community-Based Property Management model that is designed to replace traditional property management practice by enabling community involvement and by leveraging modern technology, including artificial intelligence features currently under development. Our approach actively involves tenants and other skilled community members in the management process, handling leasing and daily operations in a way that minimizes conflicts of interest and improves tenant satisfaction. With a four-year lead over new market entrants and the ability to scale instantly without local staffing, Collab Z uniquely positions itself against both traditional property management firms and SaaS-based PropTech competitors.

Our mission is to democratize property management and to foster a more engaged community of tenants, property owners, and professional service providers to maximize asset value and to create a sustainable, decentralized organization that benefit all stakeholders involved.

Our vision is to revolutionize the real estate sector by maximizing community engagement in their living and working spaces for an autonomous and collaborative living experience.

Building an eco-system in property management, we are a people-first organization, focused on delivering value to our property owners, tenants, and professional service provider- while creating sustainable, long-term value for Collab Z's shareholders.

In addition to transforming the property management industry, Collab Z Inc. offers a range of specialized services within its initial ecosystem. These services maximize the value of our strategically developed resources, delivering comprehensive solutions to our stakeholders. Our EB-5 Immigration Investor Services source USCIS-qualified investment projects and assist EB-5 investors with project selection, compliance documentation, and application support. In Renovation Management, we streamline property renovation processes with professional oversight. Our Procurement Service provides expert insights during the construction material specification and design phases. For Development and Construction Management, we oversee projects to ensure timely, on-budget completion. In addition, we deliver tailored solutions to address complex development challenges.

At first glance, these specialized services may seem unrelated to our core business. However, as an early-stage startup, Collab Z has strategically leveraged its robust industry network to drive operational efficiency and profitability. For example:

● Collab Z recently completed a development project at 1773 Oxford Street, Berkeley, California in May 2025, and assumed the role of property manager beginning June 1, 2025.

● An equity investor in Collab Z's 1773 Oxford Street development project helped us secure a 48-unit multifamily property management contract in December 2024.

● A Berkeley-based general contractor, engaged on several Collab Z - managed renovation projects, successfully referred an EB-5 investor in mid-2024.

As we continue building our business ecosystem, Collab Z will transition toward a more focused and scalable operational model. Our core emphasis will be on community-based property management, while we strategically scale down ancillary services such as development and construction management, renovation management, and EB-5 Immigration Investor Services. This streamlined approach will enable us to concentrate resources on expanding and enhancing our innovative property management solutions in the multifamily housing sector.

**The Current Industry Challenge, Our Solution, and Our Opportunity**

**The Challenge**

The property management industry faces longstanding inefficiencies and high costs due to outdated value chain structures. Collab Z has identified key pain points and opportunities for transformation:

&nbsp;&nbsp;&nbsp;&nbsp;1. Inefficiency in Traditional
 Models: Legacy property management structures are bloated with excessive layers of human oversight and reliance on third-party service
 providers. This increases management costs, creates long lead times, reduces transparency, and often results in misaligned interests
 between stakeholders.

&nbsp;&nbsp;&nbsp;&nbsp;2. Low Tenant Satisfaction:
 Traditional systems overlook the potential contributions of tenants who are willing to assist with routine tasks, such as communications,
 minor repairs, maintenance requests, and leasing coordination. This underutilization contributes to lower tenant satisfaction, higher
 turnover rates, and poorly maintained properties.

&nbsp;&nbsp;&nbsp;&nbsp;3. Scalability Challenges:
 Traditional models struggle to scale across multiple properties and regions due to their dependence on local staffing and manual
 processes. This increases operational complexity and limits growth opportunities.

&nbsp;&nbsp;&nbsp;&nbsp;4. Lag in Technology Adoption:
 Compared to other industries, property management has been slow to adopt disruptive technologies that could overhaul outdated operational
 models. This presents a significant opportunity for innovation.

**Our Solution**

Collab Z has developed its Collab Platform, a community-based property management solution that directly connects tenants with property management tasks, offering them financial incentives to contribute to their living environment and foster stronger community connections. AI-enhanced features are currently under development, with phased launches planned over an 18-month period starting in early 2025.

Our model enhances occupancy rate, eliminates unnecessary management layers, reduces operating expenses, and improves tenant satisfaction by delivering responsive services through Community Pros and professional service providers. Also, the Collab Platform enables faster entry into new market without building local teams.

As part of this model, Community Pros ("CPs") are tenants who assist with property management tasks, such as leasing showings, minor repairs, administrative work, and Customer support, in exchange for financial incentives.

For repair and maintenance tasks requiring specialized expertise, professional service providers (licensed contractors such as HVAC, plumbing, and electrical repair specialists) handle the work.

CPs play a coordination and communication role, similar to property managers, contacting professional service providers, scheduling service appointments, and ensuring that repairs are completed as expected in a timely manner.

After more than four years of refining our disruptive approach, Collab Z has established itself as a market leader, with the following key competitive advantages:

&nbsp;&nbsp;&nbsp;&nbsp;1. First-Mover Advantage and
 Industry Recognition

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Experience and Market Penetration:
 With a four-year head start, Collab Z holds a significant advantage in experience, technology deployment, and market reach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Industry Validation: Recognized
 by esteemed organizations such as the MIT Center for Real Estate, Propmodo, and Yahoo Finance, Collab Z's innovative model
 is endorsed by industry leaders.

&nbsp;&nbsp;&nbsp;&nbsp;2. Proprietary Community-Based
 Property Management Model

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Unlike traditional SaaS
 PropTech solutions (e.g., Buildium) or task-matching platforms (e.g., TaskRabbit), Collab Z integrates tenants directly into property
 management operations. This minimizes reliance on third-party managers, maximizing efficiency.

&nbsp;&nbsp;&nbsp;&nbsp;3. Quantifiable Metrics

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Operational Efficiency:
 Collab Z consistently maintains near-100% occupancy rates, far surpassing the industry average of ~95% (Source: Medium, January 2025).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Scalable Market Expansion:
 Targeting a $5.6 trillion addressable residential rental market (Source: Statista, July 2024), Collab Z actively operates in four
 markets, managing 13 properties at full occupancy as of 2024.

&nbsp;&nbsp;&nbsp;&nbsp;4. Competitive Positioning

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Versus Traditional Property
 Managers: Traditional property management firms typically rely on centralized, full-time staffing models that result in higher overhead
 and slower responsiveness across geographically dispersed portfolios. In contrast, Collab Z employs a decentralized, community-enabled
 operating model that engages residents and local service providers through a digitally managed platform. This structure allows Collab
 Z to reduce operating costs and scale efficiently without the need for extensive local staffing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Versus
 SaaS PropTech: Most PropTech providers, including industry incumbents such as Yardi and Buildium, offer software solutions that support—but
 do not replace—traditional property management infrastructure. Collab Z takes a fundamentally different approach: our platform
 integrates operational workflows, resident participation, and AI-driven automation into a single system that assumes responsibility
 for managing day-to-day property operations. Rather than serving traditional property managers, our solution displaces them entirely
 in many cases, particularly where operational inefficiencies are most acute. Collab
 Z's model has attracted academic and media attention due to its unconventional structure and early operational success. Our
 innovative model has been recognized in industry-specific publications such as Propmodo and Yahoo Finance, and by esteemed academic
 institutions such as the MIT Center for Real Estate, which highlights Collab Z's unique approach in the PropTech industry. Collab
 Z's founder, Mr. Qian Wang, actively supports innovation at the MIT Center for Real Estate, where he completed his second Master
 of Science degree. In 2022, Mr. Wang established the Wang Real Estate Innovation Fund at MIT, directly contributing to research initiatives
 aimed at advancing PropTech solutions. This collaboration provides Collab Z access to cutting-edge industry research and resources,
 significantly enhancing our capacity for innovation. Despite competition from major public companies with considerable technical
 resources, our strategic academic partnerships and distinct business model uniquely position Collab Z to address the longstanding
 inefficiencies and effectively transform the traditionally conservative multifamily property management market.

&nbsp;&nbsp;&nbsp;&nbsp;5. Implementation Success
 Stories

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o 1742 Spruce Street, Berkeley,
 CA: Since Collab Z's takeover in 2021, occupancy has increased from 85% to 100%, resulting in a 22% rise in average annual
 revenue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o 310 Waco Avenue, League
 City, TX: Within two months of assuming management in January 2025, Collab transformed the property from a monthly loss of $7,891
 to a profit of $21,816, driven by a 47% reduction in operating costs—from $63,000 to $33,000

&nbsp;&nbsp;&nbsp;&nbsp;6. Acknowledgment of Competition
 Risks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o While some competitors
 may have greater technical resources, Collab Z distinguishes itself through its AI-powered, community-based model. This approach
 delivers transformative improvements over traditional and incremental technologies in the industry.

**Our Opportunity**

According to IBIS World, the property management industry reached $128.3 billion in revenue by the end of 2024, growing at a CAGR of 2.0%. As the first community-based property management solution, Collab Z is positioned to revolutionize this massive market.

With over 300,000 property management companies and 20 million rental properties in the U.S. (Sources: Truelist, February 2024; Rubyhome, August 2023), the opportunity for disruption is immense. The Collab Platform is designed to:

● Streamline operations

● Enhance tenant engagement

● Maximize property value

By applying a community-driven model and planning the integration of AI-powered features currently under development, Collab Z addresses longstanding inefficiencies while scaling across the nation's extensive rental property network.

**<u>Principal Products and Services</u>**

**AI-Enhanced Property Management Platform Overview**

Collab Z is developing an AI-enhanced, community-based property management platform designed to fundamentally transform traditional property management processes. The Collab Platform reimagines property management by integrating tenants into day-to-day operations, streamlining workflows, and reducing operational overhead. The model draws inspiration from transformative technology platforms such as Uber and Airbnb, replacing conventional centralized property management structures with a decentralized, scalable, and tenant-driven approach.

**Current Systems Features and Tools**

Collab Z began system development in March 2021. After an iterative development process, Collab Z launched its Minimum Viable Product ("MVP") in December 2023. The Company is currently operating version 3.0 of its system.

The current property management system is built on a modular architecture, integrating third-party SaaS solutions with proprietary software through a robust API framework developed by Collab Z's engineering team. This architecture allows Collab Z to address diverse operational requirements while supporting its decentralized, community-based management model.

Integrated Third-Party Systems

● **Discord** serves as Collab's primary real-time communication tool between the operations team, tenants, and Community Pros ("CPs"). CPs claim and complete tasks via Discord, while administrators approve and oversee task completion. Discord is utilized under a standard SaaS subscription model, without exclusive licensing.

● **Buildium** manages leasing, rent collection, maintenance tracking, tenant communication, and financial reporting. It includes the Resident Center, a tenant-facing mobile app. Through Resident Center, tenants can (i) pay rent, (ii) submit maintenance requests (with photos), (iii) access lease documents, and (iv) communicate with the operations team. These self-service workflows have improved tenant satisfaction and reduced inbound call volume. While Buildium is a critical component of current operations, Collab Z plans to transition these functions to its proprietary CollabAPP in future phases. Collab Z holds a commercial SaaS license with Buildium, which is non-exclusive and cancellable. Until CollabApp is fully developed and deployed, Resident Center remains the primary tenant portal for core self-service functions. Collab Z does not own or develop Resident Center, but customizes it through Buildium's dashboard. See below the relationship between Resident Center and the in-development CollabAPP.

---

| | | |
|:---|:---|:---|
| Feature | Resident Center | CollabAPP (in Development) |
| Ownership | Buildium SAAS Subscription | Collab Z Inc. |
| User (s) | Residents, Collab Z staff | CPs, Professional service providers, Collab Z staff |
| Core Scope | Tenants can (i) pay rent, (ii) submit maintenance requests, (iii) access lease documents, and (iv) communicate with the operations team. | Unified Hub: CP Task management and marketplace, Tenant self-service, dynamic payments, AI support, leasing and task management, predictive maintenance. |
| AI Functions | None (standard ticketing) | Multi-agent AI layers |
| CP Workflow & Payment | Not Supported | Native: Task claiming, guidance, wallet, CollabPOINTS |
| Development Status | Mature: In use | In Development: Multiphase roadmap |

---

● **Retool** facilitates the creation of internal dashboards and administrative interfaces, integrating workflows between leasing, maintenance, and financial management. Retool is employed under a standard SaaS agreement without exclusivity.

● **Webflow** powers Collab's public-facing rental listings and marketing website, which promotes tenant engagement and supports community-building initiatives.

Collab Z is currently developing CollabAPP, a proprietary, unified software platform designed to consolidate these disparate systems. CollabAPP aims to deliver an integrated user experience across all stakeholder groups—tenants, CPs, property owners, and service providers. The application is designed to streamline operations, enhance efficiency, and further validate Collab's community-based business model.

At the core of our model are Community Pros ("CPs"), tenants who voluntarily opt into the Collab Platform and apply to perform predefined, first-line property management tasks, such as leasing showings, minor repairs, common-area cleaning, package handling, marketing and administrative support. Tasks are generated through tenant service requests, which are submitted through the Resident Center app. Collab staff review these requests, convert them into tasks, and publish them to the Collab Platform (integrated with Discord), or assign them directly to CPs based on availability, skill, or urgency. CPs then claim the task, complete the work, and upload verification (e.g., photos) through the platform. After staff approval, payments are automatically disbursed via Brex ACH transfer and recorded in our accounting system, Buildium.

Task compensation is dynamically priced based on historical internal labor cost data, local market handyman wages, and standardized task durations, with adjustments for task complexity and urgency. CPs are compensated either in cash or through rent credits. CPs describe this flexible, part-time structure as a meaningful opportunity to earn supplemental income without leaving their building while engaging with their community. In addition to financial incentives, CPs gain valuable experience in hospitality and maintenance and enjoy increased recognition within their communities.

By engaging CPs, Collab Z eliminates the need for fixed payroll and onsite staffing typically associated with traditional property management. Because CPs are located on-site and familiar with the properties, response times are

shorter, and service quality is improved. Tasks are paid only upon completion, further aligning incentives and controlling costs.

**Insights and Learnings**

Through its operational deployment of third-party SaaS solutions and proprietary technologies, Collab has identified key strengths and areas for improvement.

Strengths

● Enhanced Task Visibility and Accountability: Centralized task management tools have increased operational efficiency by enabling administrators to oversee task progress and ensure timely resolution of tenant requests.

● Improved Tenant Satisfaction: Through tools such as Buildium's Resident Center App, tenants have access to self-service functionality including rent payments, maintenance requests, and lease management, resulting in streamlined tenant experiences.

● Community Empowerment: CPs are incentivized to perform property management tasks, fostering tenant ownership and community engagement while reducing operating costs.

● Data-Driven Insights: Integrated analytics tools provide actionable data on property performance and tenant behaviors, informing strategic decision-making.

● Scalability: The modular system architecture supports expansion across multiple markets and properties without disruption.

Challenges

● Platform Fragmentation: Multiple systems result in redundant workflows and limited integration, hindering productivity.

● Manual Processes: Heavy reliance on manual inputs introduces error risks and slows routine processes.

● Limited Data Integration: Siloed data reduces visibility and restricts comprehensive operational oversight.

● Limited External Adoption Potential: Collab Z's current customized integrations present challenges for external deployment without significant reconfiguration.

 

**Opportunities and the Vision for CollabAPP**

CollabAPP, currently under development, is designed as a centralized, AI-powered platform that addresses these challenges. CollabAPP will serve as the digital hub for property management operations, integrating tenants, CPs, property owners, and professional service providers into a single ecosystem.

**CollabAPP Core Features and Functionalities**

&nbsp;&nbsp;&nbsp;&nbsp;1. Centralized Task Management:
 A unified platform will manage the entire lifecycle of a task, from creation and assignment through to execution, verification, and
 compensation.

&nbsp;&nbsp;&nbsp;&nbsp;2. Enhanced Security and Verification:
 CollabAPP will incorporate user verification and real-time tracking for all participants and tasks through unique digital IDs.

&nbsp;&nbsp;&nbsp;&nbsp;3. Process Automation: Automation
 will reduce manual intervention through AI-driven task prioritization, automated leasing workflows, dynamic showing scheduling, and
 real-time rent pricing adjustments.

&nbsp;&nbsp;&nbsp;&nbsp;4. Integrated Communication
 Tools: AI-enhanced communication channels will allow personalized real-time engagement between all stakeholders, including tenants,
 CPs, service providers, and Collab Z staff.

&nbsp;&nbsp;&nbsp;&nbsp;5. Advanced Analytics: Real-time
 reporting and data visualization tools will provide insights into property operations, tenant satisfaction, and financial performance.

&nbsp;&nbsp;&nbsp;&nbsp;6. Community Engagement and
 Incentives: Gamified rewards and recognition programs will incentivize CPs, promoting participation and building community cohesion.

&nbsp;&nbsp;&nbsp;&nbsp;7. AI Personal Assistants:
 AI assistants will support tenants and CPs with automated scheduling, maintenance requests, rent payments, and task prioritization.

&nbsp;&nbsp;&nbsp;&nbsp;8. Market Adaptability: While
 designed for Collab Z's portfolio, CollabAPP will be adaptable for deployment by other property managers and individual landlords,
 offering broad market potential.

**Unique Features for Community Pros (CPs)**

CollabAPP provides CPs with comprehensive tools to engage with property management tasks:

&nbsp;&nbsp;&nbsp;&nbsp;1. Community Enrollment: Tenants
 join the Collab community by creating a profile within the app.

&nbsp;&nbsp;&nbsp;&nbsp;2. Task Claiming and Execution:
 CPs can claim available tasks, access step-by-step guidance, and track their progress through the platform.

&nbsp;&nbsp;&nbsp;&nbsp;3. Compensation Requests and
 Wallet Management: CPs submit requests for payment through the app, with earnings deposited into an in-app wallet. Funds can be applied
 toward rent or withdrawn as cash.

&nbsp;&nbsp;&nbsp;&nbsp;4. Real-Time Communication:
 Task-specific chat threads and AI-driven support provide immediate answers and collaborative channels.

&nbsp;&nbsp;&nbsp;&nbsp;5. CollabPOINTS and Ratings
 System: CPs accumulate points based on performance, unlocking additional earnings and task opportunities.

&nbsp;&nbsp;&nbsp;&nbsp;6. Dynamic Pricing and Predictive
 Maintenance: AI dynamically adjusts compensation based on task complexity and market rates, while predictive analytics facilitate
 proactive maintenance scheduling.

**AI Integration and Roadmap**

CollabAPP will leverage AI to increase efficiency and scalability:

● AI-Powered Task Management: Automated task assignment, intelligent matching, and dynamic scheduling will optimize labor allocation.

● AI-Driven Support Chatbots: Provide immediate, 24/7 support for tenants and CPs.

● Dynamic Leasing and Pricing: Automated market analysis will optimize rental rates and minimize vacancy.

● Predictive Maintenance: AI analytics will identify potential maintenance issues, scheduling preventive actions to reduce costs.

**Key Stakeholder Benefits**

For Tenants and CPs

● Economic Empowerment: CPs gain financial rewards and professional development opportunities.

● Improved Living Standards: Faster maintenance and support increase tenant satisfaction.

● Community Building: Shared responsibilities foster a collaborative, engaged living environment.

For Property Owners

● Reduced Operating Costs: The decentralized management model, combined with AI-driven workflow automation that will be rolled out over time, reduces traditional overhead costs.

● Higher Occupancy and Revenue: Dynamic pricing and enhanced tenant satisfaction improve retention and revenue.

● Scalability: Collab Z's model facilitates expansion into new markets with minimal upfront investment.

For Professional Service Providers

● Incentivized Service Quality: Merit-based recognition ensures high service standards.

● Faster Payments: Our automated system ensures service providers receive payments within 24 hours of completing their work.

For Collab Z Inc.

● Higher Profitability: Reduced operational costs increase margins on property management contracts.

● Scalable Market Entry: Minimal staffing requirements enable rapid entry into new markets.

● Network Effects: Collab Z's growing community network drives organic demand for its services.

**System Development Plan and Timeline**

CollabAPP development is structured as a phased, 1.5-year roadmap starting in early 2025:

---

| | | |
|:---|:---|:---|
| Phase | Timeline | Milestone |
| Phase I | Q2 2025 | Launch CP onboarding; deploy AI-powered repair and maintenance automation |
| Phase II | Q4 2025 | Release full task management module |
| Phase III | Q1 2026 | Deploy AI leasing and showing task automation |
| Phase IV | Q2 2026 | Implement AI move-in/move-out assistance and full property lifecycle management |

---

**Technology Infrastructure and AI Initiatives**

● Proprietary AI Development: Collab Z's AI solutions are built on proprietary datasets and Google Cloud's AI services (including Vertex AI).

● Open Source and Third-Party Integration: Collab Z leverages open-source frameworks (TensorFlow, Hugging Face, PyTorch) and third-party solutions for scheduling and computer vision applications.

● Unified Authentication System: A centralized identity system will integrate CP performance history for quality assurance and tracking.

**Future Potential Use of CollabAPP in Development, Construction, Renovation, Procurement and EB-5 Business**

The Collab Platform is primarily designed as a community-based property management solution that enhances efficiency, reduces operational costs, and increases tenant engagement through AI-driven automation. While its current primary focus is on residential property management, certain features of the platform can support related business areas, including development, construction, renovation, procurement, and EB-5 services.

The platform holds the potential to expand its capabilities into these areas in the following ways:

● Development & Construction: By leveraging AI for project tracking and real-time workflow automation, the platform could effectively monitor project timelines, budgets, and coordinate contractors.

● Renovation Management: Utilizing its decentralized task management model, the platform could streamline bidding processes, schedule, and track the performance of renovation projects.

● Procurement: Features for managing vendors and suppliers could be added to allow for real-time order tracking, automate invoicing, and manage the supply chain more effectively.

● EB-5 Business Services: Although not a primary function, the platform could act as a centralized hub for EB-5 investment projects, offering real-time updates on construction progress, leasing performance, and compliance milestones.

Collab Z is dedicated to the ongoing evolution of its platform. As system development advances, these areas might be integrated to boost operational efficiency across all business verticals.

**<u>Business Model</u>**

As the company grows its property management portfolio and enters new markets, these efforts serve as a bridge between the company's current business model and its future business model, which prioritizes scalability, efficiency, and community engagement through the Collab Platform.

**Current Business Model**

The current business model reflects Collab Z's foundational operations, encompassing Property Management Services, Development and Construction Management Businesses, procurement, Renovation Management, and EB-5 Immigration Investor Services.

&nbsp;&nbsp;&nbsp;&nbsp;1. Property Management Services

Collab Z operates as a full-service property management provider, engaging the tenants to manage the day-to-day operations of rental properties. This includes leasing, vendor coordination, and property maintenance.

Leasing Process:

● Tenant-Led Property Showings: Tenants actively participate in the leasing process by hosting property tours for prospective tenants. Their participation is tracked on the Collab Platform, and they are compensated accordingly, promoting active involvement and accountability.

Vendor Coordination:

● Tenant-Initiated Vendor Engagement: Tenants play a coordination role, similar to property managers, contacting professional service providers, scheduling service appointments, and ensuring that repairs are completed in a timely manner.

Property Maintenance Services:

● Task Claiming & Execution: Tenants can claim and complete repair & maintenance tasks such as minor maintenance requests, cleaning of common areas, and handling of packages.

● Automated Compensation: The platform ensures that tenants are promptly compensated for their services, with instant payments processed for completed tasks, fostering a culture of efficiency and fairness.

● This innovative approach utilizes the Collab Platform and integrates tenants as CPs, transforming traditional management structures into a decentralized, tenant-driven system that enhances efficiency and cost-effectiveness.

Revenue is generated through a fixed percentage of monthly lease income, fees for managing property-related expenses like repairs and maintenance, and commissions on new lease agreements. Certain properties also feature a profit-sharing model, where Collab Z earns a share of the rental income above guaranteed thresholds.

&nbsp;&nbsp;&nbsp;&nbsp;2. Development and Construction
 Management

The Company oversees development and construction projects, ensuring timely completion within budget. These services contribute to property value enhancement, with development fees recognized monthly over the service period. Collab Z utilizes its extensive industry experience and resources to provide comprehensive professional services to multifamily developers, particularly in markets where it has a well-established presence.

Since early 2022, Collab has been engaged in the construction management of a new development at 1773 Oxford Street, Berkeley, California. This project is a 5-story, 24-unit student housing property with 81 beds, with a total estimated development cost of $20.5 million. Construction commenced in October 2022 and was completed in May 2025. In this role, Collab Z provides multiple services:

● Design Consulting: Collab Z advises on unit types, furniture layouts, public areas, building material selections, and amenities to ensure they align with leasing and operational strategies, utilizing insights from tenant community user studies.

● Procurement Consulting: Collab Z assists with sourcing and importing building materials from international markets, such as China and Malaysia, achieving significant cost reductions averaging 45%.

● Pre-Operating Consulting: Services include rental pricing recommendations, leasing preparations, pre-leasing marketing, and operational license applications, often leveraging Collab's Z extensive community resources.

Further expanding its portfolio, Collab Z began providing similar consulting services on January 1, 2025, for another significant project located at 2425 Durant Avenue, Berkeley, California. Planned as a 20-story student housing building with 169 units and 513 beds, this project covers 145,920 square feet and is currently in the entitlement process, with an anticipated completion date of April 2028.

Material Terms of Agreements and Related Risks:

● For both projects, Collab's Z base fees are structured to be paid either monthly or upon completion of specific services.

● There are provisions allowing Collab Z to terminate the agreements if fees remain unpaid for more than 30 days.

● Performance-based bonuses are subject to the discretion of the developers and owners, posing a risk of non-full payment if the bonus exceeds initial calculations.

● As a consultant during the development phase, Collab Z does not bear responsibility for financial performance, construction quality, or the completion schedule of the projects. Decision-making authority rests with each project's respective developer and owner.

&nbsp;&nbsp;&nbsp;&nbsp;3. Procurement Services

Collab Z facilitates the sourcing of construction materials, particularly from international suppliers, streamlining procurement for property owners. Fees are recognized upon the completion of the service.

&nbsp;&nbsp;&nbsp;&nbsp;4. Renovation Management

Collab Z manages property acquisition, renovation, and disposition projects, generating fees recognized throughout the project duration and upon specific milestones. This service ensures properties meet market demands and achieve maximum value.

&nbsp;&nbsp;&nbsp;&nbsp;5. EB-5 Immigration Investor
 Services

The company identifies EB-5 investment projects and assists investors with project selection, compliance documentation, and support during the application process. Revenue is recognized upon submission of the EB-5 application package.

*Related Party Relationships* 

A significant aspect of our current business model is that a majority of our revenue, accounting for 63% in 2024, is derived from related parties. The nature of these relationships primarily involves properties under common control and management, for which Collab Z provides property management, development, renovation and procurement services to individuals. Revenue from these services is recognized according to the progress and completion of specified tasks. Transactions with these related parties are conducted under terms that are revisited periodically to align with market practices and ensure compliance with regulatory standards. While these relationships contribute to our revenue streams, they are managed with careful consideration to maintain transparency and independence in our operations. As Collab Z evolves, our focus on refining our community-based property management services will continue alongside a review and potential adjustment of our involvement in transactions with related parties. See "*Current Relationships And Related Party Transactions*" for a more detailed discussion.

**Future Business Model**

As Collab Z evolves, we will transition toward a more focused and scalable operational model, emphasizing community-based property management as the core business, while scaling down other activities such as development, renovation management, and EB-5 services. This pivot reflects the Company's strategic emphasis on long-term sustainability and market differentiation through its Collab Platform.

In the fiscal year 2024, our revenue streams were diversely distributed across several business units. Property management, which is becoming our primary focus, contributed 31% to our total revenue. Development and construction management accounted for 5%, procurement services constituted 13%, renovation management made up 14%, and EB-5 immigration investor services contributed 37% of our revenue.

Reflecting our strategic refocus, we plan to phase out EB-5 Immigration Investor Services within the next year. This decision aligns with our strategy to concentrate resources and expertise on enhancing our core property management services, responding to changes in market demand and regulatory landscapes. While development, renovation, and procurement services currently contribute to our diversified revenue streams, we plan to significantly scale down these

activities. Over the next two years ,we expect their combined contributions to revenue will make up a less significant portion of revenue as we focus on property management services.

This pivot underscores our commitment to sustainability and efficiency, leveraging our proprietary platform to enhance property management services. By concentrating on our core competencies, we aim to strengthen our market position and ensure long-term growth and profitability. The outlined changes reflect a deliberate strategy to optimize our business operations and focus on areas with the highest growth potential and alignment with our long-term strategic goals. Detailed plans for this transition are subject to ongoing review by our management team to ensure alignment with evolving market conditions and company objectives.

**Growth Opportunities**

We aim to expand our technological offerings, improve our AI capabilities, and increase market penetration across new geographic regions. Our focus is on enhancing user engagement and automating more task management functions to increase tenant satisfaction and maximize property value.

Beyond these core objectives, Collab Z plans to scale up through various innovative approaches:

1. Partnership with General
 Partners (GPs)

Collab Z targets partnerships with GPs who manage groups of multifamily properties. By entering into partnerships and taking control of the properties, Collab Z aligns its community-based property management strategies directly with GPs' objectives of enhancing asset value and operational efficiency.

2. Acquisition and Transformation
 of Traditional Property Management Firms

We are positioned to acquire or take control of traditional property management companies, enabling us to manage their portfolios directly. This strategy not only expands our market presence but also integrates existing operations into our innovative management framework.

3. Collaboration with Debt
 Financing Institutions:

Collab Z plans to partner with financing institutions to take control of underperforming properties. By injecting equity and improving operations, we provide additional guarantees for borrowers. In return, borrowers agree to allow Collab Z to manage the properties, for which we will charge a premium for our enhanced management services.

4. Joint Ventures with Local
 Operators:

In March and April 2025, we entered into five joint venture agreements with unaffiliated third parties to establish property management operations in select markets. Each joint venture is jointly owned by Collab Z (40%) and our local partner (60%). Under these agreements, Collab Z contributes its technology platform, brand, and management expertise, while our partners contribute local operational expertise and access to regional opportunities. These entities operate independently under separate operating agreements and reflect a strategic approach to scaling via regionally focused partnerships. Collab Z's aggregate investment across these five joint ventures totaled $120,000. This joint venture strategy allows Collab Z to accelerate market entry, reduce overhead, and maintain flexibility while expanding the reach of our community-based property management model in collaboration with experienced local operators.

**<u>Competition</u>**

**Competitive Disadvantages**

Despite its innovative approach, Collab Z faces several competitive disadvantages that stem from its pioneering status in the property management industry:

1. Regulatory and Compliance
 Challenges

As a new entrant with a novel business model, Collab Z must navigate a complex landscape of local, state, and federal regulations that govern property management and real estate investment. Adapting our operations to meet these stringent requirements can be resource-intensive and may slow our market entry and scaling efforts.

2. Market Acceptance

Our community-based management model, which involves profits sharing, represents a significant departure from traditional property management practices. Convincing property owners of the benefits of our model poses a substantial challenge. Initial skepticism and resistance to change can hinder adoption rates and growth, particularly among established players with entrenched interests and traditional business operations.

3. Initial Trust and Credibility

Building trust with property owners and investors is crucial for our business model to succeed. As a new player in the market, establishing credibility takes time and results, particularly when asking stakeholders to embrace a model that shifts some control and profit-sharing structures. Overcoming initial doubts and demonstrating the long-term value and operational efficiencies of our platform will require not only effective communication and marketing but also proven case studies and endorsements from early adopters.

To mitigate these disadvantages, Collab Z is committed to rigorous compliance, transparent operations, and ongoing dialogue with all stakeholders. Educating potential clients about the tangible benefits of our model through proven case studies will be crucial. Additionally, leveraging partnerships with industry leaders and influencers can accelerate trust-building and market penetration.

**Competitive Advantages**

Collab Z stands out in the PropTech revolution through its unique approach to property management and property value maximization. Here's an overview of our competitive advantages based on the integrated and innovative strategies we employ:

1. Technology

Collab Z's proprietary technology seamlessly integrates the capabilities of traditional task management platforms with the comprehensive features of conventional property management SaaS systems into a unique, advanced ecosystem. Our technology facilitates direct engagement between tenants and tasks, thereby streamlining property management processes. This direct linkage not only eliminates superfluous management layers, enhancing operational efficiency, but also greatly diminishes the need for extensive local staffing, a typical obstacle to scalability in conventional models.

Furthermore, our platform leverages a community-driven approach, designed to maximize property value by actively involving tenants in the management process. This involvement boosts tenant commitment and satisfaction, which are crucial for long-term property performance. By integrating these innovative elements, Collab Z provides a robust competitive edge, offering unmatched scalability and enhanced property value optimization, setting a standard in the PropTech industry that is challenging for competitors to replicate.

2. Unique Business Model

Collab Z's unique business model aligns our interests directly with those of property owners and tenants. This approach deepens our commitment to the long-term success of these properties. This model not only fosters trust and alignment with property owners but also promotes sustained engagement and profitability.

3. Data-Driven Innovation and AI Development

In managing assets over $72 million over the past four years, Collab Z has accumulated a significant data repository. This extensive data collection is foundational for our ongoing development of AI technologies. While our AI capabilities are currently under development, this initiative will enable us to significantly enhance operational efficiency and enable rapid market entry.

4. Real Estate Expertise

Collab Z's team boasts over 56 years of combined experience in real estate investment, development, and asset management. Collectively, our team members have developed and managed more than $10 billion in real estate assets over the course of their careers. This deep industry knowledge ensures that we are equipped to handle complex market dynamics and provide superior asset and property management services.

**<u>Litigation</u>**

To date, there are no material legal proceedings or government actions against Collab Z. We maintain robust legal and compliance protocols to manage risks associated with our business.

**<u>Employees</u>**

As of the date of this prospectus, Collab Z have 11 full-time team members, including employees and full-time contractors engaged through third-party service providers. We are committed to maintaining an inclusive, diverse, and innovative workplace, recognized in the industry for our excellent work environment.

**<u>Property</u>**

We do not own any real property. Our office is located at 2001 Addison St, Suite 300, Berkeley, CA 94704. Our mailing address is 29 Orinda Way, Unit 2060, Orinda, California 94563.

**MANAGEMENT**

**Directors and Executive Officers**

The following sets forth information on our executive officers, directors, and director nominees as of the date of this prospectus.

---

| | | |
|:---|:---|:---|
| **Name** | **Age** | **Position** |
| William J. Caragol | 58 | Chairman of the Board |
| Qiaojun Lai | 32 | Chief Executive Officer and Director |
| Jin Kuang | 54 | Chief Financial Officer |
| Matthew Gordon | 52 | Director Nominee <sup>(1)</sup> |
| David Kivitz | 42 | Independent Director Nominee <sup>(1)</sup> |
| Zhe Zhang | 46 | Independent Director Nominee <sup>(1)</sup> |

---

(1) To be appointed to our
 board of directors effective automatically upon the effectiveness of the registration statement of which this prospectus forms a
 part.

**Executive Officers and Directors**

**William J. Caragol** is the Chairman of the Board of the Company since May 2025. Mr. Caragol has over thirty years of experience working with growth stage companies. In 2018, he founded and is the Managing Director of Quidem LLC, a corporate strategic and financial advisory firm. Mr. Caragol has served as the Chief Financial Officer and Chief Operating Officer of Iron Horse I since December 2023. Since July 2021 he has been the Chief Financial Officer of Mainz Biomed N.V. (NASDAQ: MYNZ), a molecular genetics diagnostic company specializing in the early detection of cancer. Since July 2021, Mr. Caragol has served on the Board of Directors of Worksport Ltd. (NASDAQ: WKSP), a growth stage technology company, and sits on the Audit Committee, Compensation Committee and the Corporate Governance Committee. Since July 2023, Mr. Caragol has served on the Board of Directors of DeFi Development Corp. (NASDAQ: DFDV), a real-estate software firm and Solana-focused treasury company, and sits on the Audit Committee, Compensation Committee and the Corporate Governance Committee. From 2021 to 2023, Mr. Caragol served on the Board of Directors and was Chairman of the Audit Committee of Greenbox POS (NASDAQ: GBOX) a financial technology company leveraging proprietary blockchain security to build customized payment solutions. Mr. Caragol earned a B.S. in business administration and accounting from Washington & Lee University and is a member of the American Institute of Certified Public Accountants.

**Qiaojun Lai** joined Collab CA LLC as Director of Acquisitions in February 2023 and was appointed CEO of Collab Z Inc. in August 2024. She has over 8 years of experience in real estate accounting and portfolio management in Canada and the U.S. Prior to joining Collab CA LLC, she worked on $2 billion real estate asset operation at Hungerford Properties (from December 2017 to June 2020 and again from March 2021 to July 2021) and Bosa Properties (from September 2020 to March 2021). Qiaojun Lai obtained a bachelor's degree in Accounting from the University of British Columbia (UBC) and a Master of Science degree in Real Estate Development from Massachusetts Institute of Technology (MIT). Additionally, she previously held a CPA designation in Canada.

**Jin Kuang** joined Collab CA LLC as CFO in January 2023 and was appointed CFO of Collab Z inc. in August 2024. She has over 15 years of extensive professional expertise in various financial domains gained across the USA and Canada, including IFRS, US GAAP, financial reporting, financial planning, merger and acquisition, financial analysis and tax. She has also spent over a decade in progressively responsible financial leadership roles within publicly traded companies. Between July 2012 and December 2022, Ms. Kuang has served as the CFO at OOOOO Entertainment Commerce Limited which is a public company listed on the Toronto Security Venture Exchange ("TSXV") and OTCQB. During the same time, she also served as a part-time CFO for Gourmet Ocean Products Inc. which is also listed on TSXV. Over the years, Jin has served as CFO for multiple publicly listed companies, in addition to her years of auditing experience with KPMG LLP Chartered Accounts. Jin holds a BA in Accounting and an MBA from the University of Northeastern China, along with a US-Certified Public Accountant and CGA designation.

**Director Nominees** 

**Matthew Gordon** is a director nominee. Mr. Gordon is the Chief Executive Officer and founder of E3iG, a private equity and public policy consulting firm, which he founded in 2013. His career spans business operations, finance, and law.

As a legal professional, Mr. Gordon has advised some of the largest financial services firms in the world, including Goldman Sachs. Mr. Gordon is a recognized expert in the legal and structural aspects of investment-based immigration, particularly the EB-5 visa program. He is the editor of *The EB-5 Book*, the leading legal treatise on the EB-5 program, and is a frequent author and lecturer on related topics. His policy work includes engagements with Harvard University's Kennedy School of Government and the White House. In February 2016, he testified before the House Judiciary Committee as a policy expert on EB-5 matters.

Over the last decade, Mr. Gordon has assisted both companies with both traditional venture and EB-5 project related companies. His work has helped these companies secure tens of millions of financing for their development efforts in a variety of sectors including sports and recreation, health and wellness, and both residential and commercial real estate.

Mr. Gordon is a licensed attorney in New York. He began his legal career practicing mergers and acquisitions law at premier Wall Street firms, including Fried Frank and Sullivan & Cromwell. He later led the U.S. division of a Swiss multinational corporation before transitioning into investment banking and finance.

He holds a B.S. in Policy Analysis from Cornell University and a J.D., *cum laude*, from the University of Pennsylvania School of Law.

**Independent Directors Nominees**

**David Kivitz** is an independent director nominee. Mr. Kivitz has over twenty years of professional experience working with growth-stage companies. In 2018, he founded and serves as the CEO and Board Director at XS Financial, a company specializing in financing large-ticket equipment. From 2019 to 2024, the company was publicly listed on the Canadian Securities Exchange and the OTC markets in the U.S. In 2024, XS Financial was acquired and taken private by Axar Capital and Mavik Capital, with Mr. Kivitz continuing in his role as CEO. Before founding XS Financial, Mr. Kivitz was Managing Partner at Alta Verde Group ("AVG"), which he co-founded in 2009 to acquire distressed real estate assets impacted by the Global Financial Crisis and housing market downturn. AVG successfully acquired and restructured a portfolio of 300 finished lots across four master-planned housing communities in Southern California. The company fully developed its land portfolio between 2013 and 2018. Before AVG, Mr. Kivitz worked as an Investment Analyst at Hamilton Lane Advisors and began his career as a Real Estate Investment Analyst in the Structured Finance Group at CapitalSource. Mr. Kivitz earned a B.B.A. from George Washington University and is a member of the Young Presidents Organization (YPO) Philadelphia chapter. Mr. Kivitz currently serves on the Board of Directors at Healing Realty Trust, a private REIT that owns and operates medical outpatient buildings.

**Zhe Zhang** is a director nominee. Mr. Zhang has more than eighteen years investment experience in financial industry. He is the co-founder and board member of Edgewater Investments since 2014. Mr. Zhang's investments include SpaceX, Palantir, Virgin Hyperloop One, Hyperloop Transportation Technologies (HTT), Wrightspeed, Virtuosys/VEEA, Eyenovia, BioCancell, QuecTel, Fair, IMX (Intelligent Medicine Exchange), TechWin Technology, Ronbow Brand Inc, Atura Technologies and etc. Mr. Zhang has served on the Board of Directors of Hyperloop Transportation Technologies since August 2016, a disruptive transportation technology company providing fifth generation transportation systems globally. In 2022, he also joined the audit committee of HyperloopTT. In April 2020, Mr. Zhang served on the Board of Directors and sits on the Compensation committee of Ronbow Brands Inc, a fast growing high-end customized European design kitchen cabinets company. Prior to Edgewater Investments, Mr. Zhang worked at Franklin Templeton Investments and Millennium Capital. Mr. Zhang earned MPA with government finance concentration from University of Southern California in 2005 and a B.S. degree from Azusa Pacific University in 2003.

**Family Relationships**

There are no family relationships among any of our officers, directors, or director nominees.

**Involvement in Certain Legal Proceedings**

To the best of our knowledge, except as described below, none of our directors, director nominees or executive officers has, during the past ten years:

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

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

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

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

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

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

**Corporate Governance**

***Governance Structure***

 

***The Board's Role in Risk Oversight***

Our board of directors oversees that the assets of our Company are properly safeguarded, that the appropriate financial and other controls are maintained, and that our business is conducted wisely and in compliance with applicable laws and regulations and proper governance. Included in these responsibilities is the board's oversight of the various risks facing our Company. In this regard, our board seeks to understand and oversee critical business risks. Our board does not view risk in isolation. Risks are considered in virtually every business decision and as part of our business strategy. Our board recognizes that it is neither possible nor prudent to eliminate all risks. Indeed, purposeful and appropriate risk-taking is essential for our company to be competitive on a global basis and to achieve its objectives.

While the board oversees risk management, company management is charged with managing risk. Management communicates routinely with the board and individual directors on the significant risks identified and how they are being managed. Directors are free to, and indeed often do, communicate directly with senior management.

Our board administers its risk oversight function as a whole by making risk oversight a matter of collective consideration. Once the board establishes committees, it is anticipated that much of the work will be delegated to such committees, which will meet regularly and report back to the full board. It is anticipated that the audit committee will oversee risks related to our financial statements, the financial reporting process, accounting and legal matters, that the compensation committee will evaluate the risks and rewards associated with our compensation philosophy and programs, and that the nominating and corporate governance committee will evaluate the risk associated with management decisions and strategic direction.

***Independent Directors***

Under the listing requirements and rules of Nasdaq, independent directors must comprise a majority of our board of directors as a listed company within one year of the closing of this offering.

Our board of directors has undertaken a review of its composition, the composition of its committees and the independence of each director and director nominee. Based upon information requested from and provided by each director and director nominee concerning his or her background, employment and affiliations, including family relationships, our board of directors has determined that each of William J. Caragol, David Kivitz and Zhe Zhang do not have any relationships that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and that each of these director nominees is "independent" as that term is defined under the applicable rules and regulations of the Securities and Exchange Commission, or SEC, and the listing requirements and rules of Nasdaq. In making this determination, our board of directors considered the current and prior relationships that each non-employee director nominee has with our company and all other facts and circumstances our board of directors deemed relevant in determining their independence, including the beneficial ownership of our capital stock by each non-employee director nominee.

***Committees of the Board of Directors***

Prior to listing our common stock on the Nasdaq Capital Market, our board intends to establish an audit committee, compensation committee, and a nominating and corporate governance committee, each with a charter to be approved by the board. Upon completion of this offering, we intend to make each committee's charter available on our website at https://living.collabhome.io/. Until such committees are established, our entire board of directors will undertake the functions that would otherwise be undertaken by the committees. In addition, our board of directors may, from time to time, designate one or more additional committees, which shall have the duties and powers granted to them by our board of directors.

 

*<u>Audit Committee</u>*

We expect that David Kivitz, Zhe Zhang and William J. Caragol, each of whom will satisfy the "independence" requirements of Rule 10A-3 under the Exchange Act and the Nasdaq listing standards, will serve on our audit committee, with David Kivitz serving as the chairman. We expect that David Kivitz will qualify as an "audit committee financial expert." The audit committee will oversee our accounting and financial reporting processes and the audits of the financial statements of our Company. The primary purpose of the audit committee is to discharge the responsibilities of our board of directors with respect to our corporate accounting and financial reporting processes, systems of internal control and financial statement audits, and to oversee our independent registered public accounting firm. Specific responsibilities of our audit committee include:

● helping our board of directors oversees our corporate accounting and financial reporting processes,

● reviewing and discussing with our management the adequacy and effectiveness of our disclosure controls and procedures,

● assisting with the design and implementation of our risk assessment functions,

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

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

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

● reviewing related person transactions,

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

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

Our audit committee will operate under a written charter, to be effective upon the closing of this offering, which satisfies the applicable listing standards of Nasdaq.

*<u>Compensation Committee</u>*

We expect that David Kivitz, Zhe Zhang and William J. Caragol, each of whom will satisfy the "independence" requirements of Rule 10A-3 under the Exchange Act and the Nasdaq listing standards, will serve on our compensation committee, with Zhe Zhang serving as the chairman. The members of the compensation committee will also be "non-employee directors" within the meaning of Section 16 of the Exchange Act. The compensation committee will assist the board in reviewing and approving the compensation structure, including all forms of compensation relating to our directors and executive officers.

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

● reviewing and recommending to our board of directors the compensation of our chief executive officer and other executive officers,

● reviewing and recommending to our board of directors the compensation of our directors,

● administering our equity incentive plans and other benefit programs,

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

● reviewing and establishing general policies relating to compensation and benefits of our employees, including our overall compensation philosophy, and

● reviewing and evaluating with the chief executive officer the succession plans for our executive officers.

Our compensation committee will operate under a written charter, to be effective upon the closing of this offering, which satisfies the applicable listing standards of the Nasdaq.

*<u>Nominating and Corporate Governance Committee</u>*

We expect that David Kivitz, Zhe Zhang and William J. Caragol, each of whom will satisfy the "independence" requirements of Rule 10A-3 under the Exchange Act and the Nasdaq listing standards, will serve on our nominating and corporate governance committee, with William J. Caragol serving as the chairman. The nominating and corporate governance committee will assist the board of directors in selecting individuals qualified to become our directors and in determining the composition of the board and its committees.

Specific responsibilities of our nominating and corporate governance committee include:

● identifying and evaluating candidates, including the nomination of incumbent directors for re-election and nominees recommended by stockholders, to serve on our board of directors,

● considering and making recommendations to our board of directors regarding the composition and chairmanship of the committees of our board of directors,

● reviewing with our chief executive officer the plans for succession to the offices of our executive officers and making recommendations to our board of directors concerning the selection of appropriate individuals to succeed in these positions,

● developing and making recommendations to our board of directors regarding corporate governance guidelines and matters, and

● overseeing periodic evaluations of the board of directors' performance, including committees of the board of directors.

Our nominating and corporate governance committee will operate under a written charter, to be effective upon the closing of this offering, which satisfies the applicable listing standards of the Nasdaq.

**Code of Ethics**

Prior to listing our common stock on the Nasdaq Capital Market, we will adopt a code of ethics that applies to all of our directors, officers, and employees, including our principal executive officer, principal financial officer and principal accounting officer. This code of ethics addresses, among other things, honesty and ethical conduct, conflicts of interest, compliance with laws, regulations, and policies, including disclosure requirements under the federal securities laws, and reporting of violations of the code.

We will be required to disclose any amendment to, or waiver from, a provision of our code of ethics applicable to our principal executive officer, principal financial officer, principal accounting officer, controller, or persons performing similar functions. We intend to use our website as a method of disseminating this disclosure, as permitted by applicable SEC rules. Any such disclosure will be posted to our website within four (4) business days following the date of any such amendment to, or waiver from, a provision of our code of ethics.

**Director Compensation**

In fiscal years ended September 30, 2023 and 2024, we did not provide compensation to our directors for their service.

**EXECUTIVE COMPENSATION**

**Summary Compensation Table**

The following table sets forth information concerning all cash and non-cash compensation awarded to, earned by or paid to our named executive officers (as defined under Item 402(m) of Regulation S-K) during the last two fiscal years.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name and principal position** | **Year** | **Salary<br> ($)** | **Bonus<br> ($)** | **Stock award<br> ($)** | **Option awards<sup>(2)</sup> ($)** | **Nonequity<br> incentive<br> plan<br> compensation<br> ($)** | **Nonqualified<br> deferred<br> compensation<br> earnings<br> ($)** | **All other<br> compensation<br> ($)** | **Total<br> ($)** |
| Qiaojun Lai <br> (CEO) | 2024 | $80000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 19500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $99500 |
| Jin Kuang <br> (CFO) | 2024 | $52000 | $- | $8450 | $- | $- | $- | $- | $60450 |
| Qiaojun Lai <br> (CEO) | 2023 | $74297 | $- | $- | $- | $- | $- | $- | $74297 |
| Jin Kuang <br> (CFO) | 2023 | $37917 | $- | $- | $- | $- | $- | $- | $37917 |

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**Equity Compensation Plan Information**

We have not adopted any equity compensation plans.

**Employee Benefits and Perquisites**

Our executive officers are entitled to reimbursement for all expenses reasonably incurred in connection with the performance of their duties as executive officers of the Company.

**Retirement Plans**

We do not offer retirement plans to our executive officers.

**Equity-Based Incentive Awards**

Our equity-based incentive awards are designed to align our interests and those of our stockholders with those of our employees and consultants, including our executive officers. Our board of directors or an authorized committee thereof is responsible for approving equity grants.

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

No executive officer named above had any unexercised options, stock that has not vested or equity incentive plan awards outstanding as of September 30, 2024.

**Director Compensation**

In fiscal 2024, we did not provide compensation to our directors for their service.

**CURRENT RELATIONSHIPS AND RELATED PARTY TRANSACTIONS**

The following includes a summary of transactions since the beginning of our 2023 fiscal year, or any currently proposed transaction, in which we were or are to be a participant and the amount involved exceeded or exceeds the lesser of (i) $120,000 or (ii) one percent of the average of our total assets at year-end for the last two completed fiscal years, and in which any related person had or will have a direct or indirect material interest (other than compensation described under "*Executive Compensation*" above). We believe the terms obtained or consideration that we paid or received, as applicable, in connection with the transactions described below were comparable to terms available or the amounts that would be paid or received in arm's-length transactions.

Qian Wang, the founder and former Chairman of the Company, is a trustee of his family trust, SDZ-US-1 2020 Irrevocable Trust (the "SDZ-US-1 2020 Trust"). SDZ-US-1 2020 Trust held a 100% ownership interest in YSMC LLC. During this period, SDZ-US-1 2020 Trust, through YSMC LLC, indirectly owned 100% of 1742 Spruce, 2340 Hilgard, 2712 Derby, 3110 College, 2521 Regent, and owns 10% of 33Mine and 36.62% of 2425 Durant. The SDZ-US-1 2020 Trust also directly owned 100% of 19–21 Buttonwood.

On January 1, 2025, the SDZ-US-1 2020 Trust sold an 85% membership interest in YSMC to an unrelated third party, reducing its membership interest in YSMC to 15%. On the same date, January 1, 2025, the SDZ-US-1 2020 Trust also sold an 85% membership interest in 19–21 Buttonwood to an unrelated third party, retaining a 15% interest.

Qian Wang is a trustee of two other family trusts: the SDZ-1-2022 Trust and the SDZ-2-2022 Trust, which together own a 90% interest in 33 Mine (45% each).

YRQ Trust, as part of the Controlling Group, owns 100% of 150 Panoramic Way.

1742 Spruce, 2340 Hilgard, 2712 Derby, 3110 College, 2521 Regent, 2425 Durant, 19–21 Buttonwood 33 Mine, and 150 Panoramic Way are collectively called the "Properties").

Collab CA is the property manager and provides property management services to all the Properties listed above and displayed below.

YRQ Trust, as part of the Controllign Group, has a 100% membership interest in 1207 Cedar and 1606 Stannage, where the Company acts as the project manager and provides renovation management services.

The SDZ-2-2022 Trust, through 1773 Oxford Street JV LLC, indirectly owns 64% of 1773 Oxford Street LLC. Collab CA serves as the project manager and provides development management services to this entity.

The following is a summary of all related parties to the Company, including the material terms and interests of the related party transactions:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **Parent** | **Basis of Control and Percentage of Voting Securities Held** | **Business Relationship <br> with Collab Z and <br> Collab CA** | **Material Terms and Interests** |
| 1207 Cedar Street LLC | YRQ Trust | 100% | 1. Acquisition<br> 2. Renovation | 1. Acquisition fee: 3.5% of the purchase price;<br> 2. Renovation service fee: 8% of renovation cost;<br> 3. Design and permitting management fee: $6000/month + actual design and permitting costs.<br>|
| 1606 Stannage Avenue | YRQ Trust | 100% | 1. Acquisition<br> 2. Renovation | 1. Acquisition fee: 3.5% of the purchase price;<br> 2. Renovation service fee: 8% of renovation cost;<br> 3. Design and permitting management fee: $6000/month + actual design and permitting costs. |
| 1773 Oxford Street LLC | 1773 Oxford JV LLC, which is 65% owned by SDZ-2-2022 Trust Irrevocable Trust | 98.248% | 1. Modular construction related pre-development management services, manufacturer research, design management | $9500/month for the period from 1/1/2023-12/31/2023 |
| 1773 Oxford Street LLC | 1773 Oxford JV LLC, which is 65% owned by SDZ-2-2022 Trust Irrevocable Trust | 98.248% | 2. Procurement from China, including windows, cabinets, plumbing features, etc. | $2500/month + procurement service fees (open amount)<br>|
| 1773 Oxford Street LLC | 1773 Oxford JV LLC, which is 65% owned by SDZ-2-2022 Trust Irrevocable Trust | 98.248% | 3. Construction Management | By invoices<br>|
| 1773 Oxford Street LLC | 1773 Oxford JV LLC, which is 65% owned by SDZ-2-2022 Trust Irrevocable Trust | 98.248% | 4. Development Management | $5,500/month from 1/1/2024-end of the construction period for 4/30/2025<br>|
|  |  |  | 5. Pre-leasing Management | $15,000/month from 1/1/2025-5/31/2025 |
| 1742 Spruce Street LLC | YSMC LLC, which was 100% owned by SDZ-US-1_2020 Irrevocable Trust. On January 1, 2025, SDZ-US-1_2020 Irrevocable Trust sold 85% its member interest in YSMC LLC to an arm-length third party and the Trust's member interest in YSMC decreased to 15% | 100% | 1. Property Management;<br> 2. Renovation Management;<br> 3. Acquisition;<br> 4. Disposition | 1) 8% of the total monthly gross receipts; 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 20% markup; 3) 5.5 % of the costs of such renovation upon completion of such renovations. 4) 2% of the contractual purchase price of the relevant property acquired. 5) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed.<br>|
| 2340 Hilgard Avenue LLC | YSMC LLC | 100% |  | 1) 8% of the total monthly gross receipts; 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 20% markup; 3) 5.5 % of the costs of such renovation upon completion of such renovations. 4) 2% of the contractual purchase price of the relevant property acquired. 5) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed. |

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| | | | | |
|:---|:---|:---|:---|:---|
| <br> **Name** | <br> **Parent** | **Basis of Control and Percentage of**<br> **Voting Securities Held** | **Business Relationship<br> with Collab Z and**<br> **Collab CA** | <br> **Material Terms and Interests** |
| 2712 Derby Street LLC | YSMC LLC | 100% |  | 1) 8% of the total monthly gross receipts;<br> 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 20% markup;<br> 3) 5.5 % of the costs of such renovation upon completion of such renovations<br> 4) a fee of 50% on any gross receipts exceeding the Minimum Rent amount.<br> 5) 2% of the contractual purchase price of the relevant property acquired.<br> 6) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed. |
| 3110 College Street LLC | YSMC LLC | 100% |  | 1) 8% of the total monthly gross receipts;<br> 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 20% markup;<br> 3) 5.5 % of the costs of such renovation upon completion of such renovations<br> 4) a fee of 50% on any gross receipts exceeding the Minimum Rent amount.<br> 5) 2% of the contractual purchase price of the relevant property acquired.<br> 6) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed. |
| 2521 Regent Street LLC | YSMC LLC | 100% |  | 1) 8% of the total monthly gross receipts;<br> 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 20% markup;<br> 3) 5.5 % of the costs of such renovation upon completion of such renovations<br> 4) a fee of 50% on any gross receipts exceeding the Minimum Rent amount.<br> 5) 2% of the contractual purchase price of the relevant property acquired.<br> 6) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed. |

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| | | | | |
|:---|:---|:---|:---|:---|
| <br> **Name** | <br> **Parent** | **Basis of Control and Percentage of**<br> **Voting Securities Held** | **Business Relationship<br> with Collab Z and**<br> **Collab CA** | <br> **Material Terms and Interests** |
| 2425 Durant Avenue LLC | YSMC LLC<br> Part A<br> Part B | 36.62% 31.69% 31.69% |  | 1) 8% of the total monthly gross receipts;<br> 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 20% markup;<br> 3) 5.5 % of the costs of such renovation upon completion of such renovations.<br> 4) 2% of the contractual purchase price of the relevant property acquired.<br> 5) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed. |
| 19-21 Buttonwood Street LLC | SDZ-US-1_2020 Irrevocable Trust | 100% |  | 1) 8% of the total monthly gross receipts;<br> 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 30% markup;<br> 3) 8 % of the costs of such renovation upon completion of such renovations.<br> 4) 2% of the contractual purchase price of the relevant property acquired.<br> 5) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed.<br> (6) $6,000/month pre-development fees from 1/1/2024 upon full completion of the entitlement process for this property. |
| 33 Mine Street LLC | YSMC LLC<br>The SDZ-1-2022 Trust<br> The SDZ-2-2022 Trust | &nbsp;&nbsp;&nbsp;&nbsp;10% <br> 45% 45% |  | 1) 8% of the total monthly gross receipts;<br> 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 30% markup;<br> 3) 8 % of the costs of such renovation upon completion of such renovations.<br> 4) 2% of the contractual purchase price of the relevant property acquired.<br> 5) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed. |
| 150 Panoramic Way LLC | YRQ Trust | &nbsp;&nbsp;&nbsp;&nbsp;100% |  | 1) 8% of the total monthly gross receipts;<br> 2) A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 30% markup;<br> 3) 8 % of the costs of such renovation upon completion of such renovations.<br> 4) 2% of the contractual purchase price of the relevant property acquired.<br> 5) 2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed. |

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| | | | | |
|:---|:---|:---|:---|:---|
| <br> **Name** | <br> **Parent** | **Basis of Control and Percentage of**<br> **Voting Securities Held** | **Business Relationship<br> with Collab Z and**<br> **Collab CA** | <br> **Material Terms and Interests** |
| YRQ Trust | Trustee Yuan Wang, Qian's father | 100% owner of preferred shares X of Collab Z and sole member of Collab CA |  |  |
| SDZ-US-1_2020 Irrevocable Trust | Trustee - Qian Wang and Qin Wang | Former Chairman and Founder of Collab Z and Collab CA |  |  |
| SDZ-2-2022 Trust Irrevocable Trust | Trustee - Qian Wang and Qin Wang | Former Chairman and Founder of Collab Z and Collab CA |  |  |
| SDZ-1-2022 Trust Irrevocable Trust | Trustee - Qian Wang and Qin Wang | Former Chairman and Founder of Collab Z and Collab CA |  |  |

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The following is a summary of related party transactions as of and for the years ended September 30, 2024 and 2023:

*Revenue and Accounts Receivable* 

 

During the years ended September 30, 2024 and 2023, the Company earned revenues of $1,163,585 and $633,847, respectively, from related parties. As of September 30, 2024 and 2023, the Company had accounts receivable of $349,576 and $631,904, respectively, with related parties. The following is a summary of revenue by each related party:

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| | | |
|:---|:---|:---|
|  | **Year Ended** | **Year Ended** |
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| 1773 Oxford St | $331688 | $130000 |
| 2521 Regent St | 183295 | 154411 |
| 3110 College Ave | 134669 | 100845 |
| 1207 Cedar St | 103455 |  |
| 150 Panoramic Way | 67338 | 27776 |
| 1606 Stannage Ave | 90212 |  |
| 1742 Spruce St | 41706 | 39118 |
| 19-21 Buttonwood St | 20782 | 29287 |
| 2340 Hilgard Ave | 23995 | 33396 |
| 2425 Durant Ave | 42356 | 25343 |
| 2712 Derby St | 93776 | 77519 |
| Other | 30313 | 16152 |
| &nbsp;&nbsp;&nbsp;Revenue - related parties | $1163585 | $633847 |
|  | 1163585 | 633848 |

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The following is a summary of accounts receivable by each related party:

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| | | |
|:---|:---|:---|
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| 3110 College Ave | $117881 | $24505 |
| 2521 Regent St | 99256 | 60423 |
| 2712 Derby St | 55800 | 22715 |
| 1773 Oxford St | 16000 | 130000 |
| 19-21 Buttonwood St | 1685 | 303390 |
| 150 Panoramic Way | 50062 | 27776 |
| Other | 8892 | 63095 |
| &nbsp;&nbsp;&nbsp;Accounts receivable - related parties | $349576 | $631904 |

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These related parties are properties for which the Company provides various real estate services, including property management, construction and development management, and renovation services. To date, the Company has also provided or received certain advances from these properties outside the normal revenue generating services, as noted below.

*Due From/To Related Parties*

Due from related parties includes a) cash advances made and b) expenses and other costs paid for on behalf of related parties. Due to related parties includes cash advances received from various related parties. The Company enters into these transactions based on the current working capital needs of the Company and these related entities. These advances are unsecured, due on demand and non-interest bearing.

The following is a summary of due from / to related parties:

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| | | |
|:---|:---|:---|
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| 1207 Cedar St | $75925 | $- |
| 1606 Stannage Ave | 63491 |  |
| 1773 Oxford St | - | 5054 |
| Customer properties with common control and management\* | 139416 | 5054 |
| Collab USA | 78367 | 36194 |
| YSMD, LLC | 79400 | 42109 |
| CollabHome CA LLC | - | 13999 |
| Entities with common control and management\* | 157767 | 92302 |
| YRQ Irrevocable Trust | 2259850 | - |
| Due from related parties | $2557033 | $97356 |
| 1773 Oxford St | 1027694 |  |
| 1742 Spruce St | 80610 | 95610 |
| 2340 Hilgard Ave | 66612 | 113403 |
| 2425 Durant Ave | - | 15103 |
| Customer properties with common control and management\* | 1174916 | 224116 |
| Qin Wang - family member of former Chairman | 130000 | - |
| Due to related parties | $1304916 | $224116 |

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\* The Company or its subsidiaries have no ownership in the customer properties or related party entities as per the amounts above. To date, Collab CA has shared common control and management with these entities through the Controlling Group.

*YRQ Irrevocable Trust*

During the year ended September 30, 2024, the Company advanced an aggregate of $2,259,850 to YRQ Trust in order to provide working capital to the Company's related entities. These advances are unsecured, due on demand and non-interest bearing.

During 2023 and 2024, YRQ Trust, as part of the Controlling Gorup, held common control and management with Collab CA, and became the sole member of Collab CA on August 21, 2024. Upon the Reorganization, YRQ Trust received 4,550,500 shares of the Company's common stock and 5,000 shares of the Company's Series X preferred stock.

Subsequent to September 30, 2024, YRQ Trust was fully repaid its advances to the Company.

*Other* 

 

During the year ended September 30, 2023, the Company had amounts due to related parties totaling $414,000. The related parties were customer properties that held common control and management. In December 2022, these amounts were converted into equity, and accounted for as contributions by Collab CA's member.

In September 2023, the Company settled $185,665 in accounts receivable with related party customer properties. In exchange for cash receipts, the Company recognized distributions to Collab CA's member.

During the years ended September 30, 2024 and 2023, Collab CA's former member provided certain advisory services for the Company for a fair value of $24,000 and $50,000, respectively. The amounts were recognized as non-cash member contributions.

***Share Assignment***

On January 2, 2025, YRQ Irrevocable Trust assigned 1,838,000 of its shares of common stock (the "Assigned Shares") that it had received in the Share Exchange to family irrevocable trusts, friends and family members of the beneficiaries of YRQ Irrevocable Trust (the "Assignment"). Following the Assignment, YRQ Irrevocable Trust owns 2,712,500 shares of common stock and 5,000 shares of Series X Preferred Stock. The Assigned Shares are held directly by the recipients and are no longer considered beneficially owned by YRQ Irrevocable Trust.

**Policies and Procedures for Transactions with Related Persons**

Our board of directors adopted a related person transaction policy setting forth the policies and procedures for the identification, review and approval or ratification of related person transactions. This policy covers, with certain exceptions set forth in Item 404 of Regulation S-K under the Securities Act, any transaction, arrangement or relationship, or any series of similar transactions, arrangements or relationships, in which we and a related person were or will be participants and the amount involved exceeds $120,000 or 1% of the average of our total assets as of the end of our last two completed fiscal years, including purchases of goods or services by or from the related person or entities in which the related person has a material interest, indebtedness and guarantees of indebtedness. In reviewing and approving any such transactions, our audit committee will consider all relevant facts and circumstances as appropriate, such as the purpose of the transaction, the availability of other sources of comparable products or services, and whether the transaction is on terms comparable to those that could be obtained in an arm's length transaction, management's recommendation with respect to the proposed related person transaction and the extent of the related person's interest in the transaction.

All of the transactions described in this section were entered into prior to the adoption of this policy.

**SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT**

The following table sets forth certain information with respect to the beneficial ownership of our common stock for (i) each of our named executive officers and directors, (ii) all of our named executive officers and directors as a group, and (iii) each other stockholder known by us to be the beneficial owner of more than 5% of our outstanding common stock. The following table assumes that the underwriters have not exercised the over-allotment option.

The column entitled "Percentage of Shares Beneficially Owned—Before Offering" is calculated based on 5,151,391 shares of common stock outstanding as of June 5, 2025. The column entitled "Percentage of Shares Beneficially Owned—After Offering" is based on shares of our common stock to be outstanding after this offering, including the 1,250,000 shares of our common stock that we are selling in this offering and aggregate of 1,644,047 shares of common stock being issued upon the closing of this offering.

Beneficial ownership is determined in accordance with SEC rules and generally includes voting or investment power with respect to securities. For purposes of this table, a person or group of persons is deemed to have "beneficial ownership" of any shares that such person or any member of such group has the right to acquire within sixty (60) days. For purposes of computing the percentage of outstanding shares of our common stock held by each person or group of persons named above, any shares that such person or persons have the right to acquire within sixty (60) days of June 5, 2025 are deemed to be outstanding for such person, but not deemed to be outstanding to compute the percentage ownership of any other person. The inclusion herein of any shares listed as beneficially owned does not constitute an admission of beneficial ownership by any person. The share ownership numbers after the offering for the beneficial owners indicated below exclude any potential purchases that may be made by such persons in this offering.

Unless otherwise indicated, the address of each beneficial owner listed in the table below is c/o Collab Z Inc., 2001 Addison St, Suite 300, Berkeley, CA 94704.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Before the Offering** | **Before the Offering** | **Before the Offering** | **Before the Offering** | **After the Offering** | **After the Offering** | **After the Offering** | **After the Offering** | **After the Offering** |
| | **Common Stock** | **Common Stock** | **Series X<br> Preferred Stock** | **Series X<br> Preferred Stock** | **Common Stock** | **Common Stock** | **Series X<br> Preferred Stock** | **Series X<br> Preferred Stock** | **Voting** |
| <br>***Name of Beneficial Owner*** | **Amount** | **%<sup>(1)</sup>** | **Amount** | **%** | **Shares** | **%<sup>(2)</sup>** | **Amount** | **%** | **Power** |
| ***<u>Officers and Directors</u>*** |  |  |  |  |  |  |  |  |  |
| William J. Caragol, Chairman |  |  |  |  |  |  |  |  |  |
| Qiaojun Lai, Chief Executive Officer | 75000 | 1.46% |  |  | 75000 | 1.10% |  |  | \*% |
| Jin Kuang, Chief Financial Officer | 32500 | \*% |  |  | 32500 | \*% |  |  | \*% |
| *All executive officers and directors as a group (3 individuals)* | 107500 | 2.09% |  |  | 107500 | 1.58% |  |  | \*% |
| ***5% or more shareholders*** |  |  |  |  |  |  |  |  |  |
| YRQ Irrevocable Trust<sup>(3)</sup> | 2712500 | 52.66% | 5000 | 100% | 2712500 | 39.92% | 5000 | 100% | 65.39% |
| JEAH Irrevocable Trust<sup>(4)</sup> | 500000 | 9.71% |  |  | 500000 | 7.36% |  |  | 4.23% |
| Fleco Int'l Corp<sup>(5)</sup> | 387500 | 7.52% |  |  | 387500 | 5.70% |  |  | 3.28% |

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\* Less than 1%

(1) For each person and group
 included in this table, percentage ownership is calculated by dividing the number of shares beneficially owned by such person or
 group by the sum of 5,151,391, the number of shares of common stock outstanding prior to the offering.

(2) For each person and group
 included in this table, percentage ownership is calculated by dividing the number of shares beneficially owned by such person or
 group by the sum of 6,795,439, the number of shares of common stock issued and outstanding immediately after the offering, assuming
 no exercise of the underwriter's over-allotment option or Representative's Warrants and no conversion of Series X Preferred
 Stock to common stock.

(3) Edrick Wang and Albert
 Wang, the children the Qian Wang, our former Chairman, are the beneficiaries of YRQ Irrevocable Trust. Yuan Wang and Ruqin Shan,
 the parents of Qian Wang, have the voting and dispositive control over the shares held by YRQ Irrevocable Trust. The principal address
 of YRQ Irrevocable is 10 Winding Lane, Orinda, CA 94563.

(4) Edrick Wang, Albert Wang
 and Haoran Wang are the beneficiaries of JEAH Irrevocable Trust and have the voting and dispositive control over the shares held
 by JEAH Irrevocable Trust. The principal address of JEAH Irrevocable Trust is 1466 Wright Ave., Sunnyvale, CA 94087.

(5) Frank Min-Fu Hung is the
 director of Fleco Int'l Corp and has the voting and dispositive control over the shares held by Fleco Int'l Corp.
 The principal address of Fleco Int'l Corp is 17 Longwood Rd, Sands Point, NY 11050.

**DESCRIPTION OF SECURITIES**

The description below of our capital stock and provisions of our articles of incorporation and bylaws are summaries and are qualified by reference to the articles of incorporation and bylaws, which are filed as exhibits to the registration statement of which this prospectus is part. You should read the provisions of our articles of incorporation, certificate of designations and our bylaws as currently in effect for provisions that may be important to you.

**General**

We are incorporated in the State of Nevada. The rights of our shareholders are generally covered by Nevada law and our articles of incorporation and bylaws. The terms of our capital stock are therefore subject to Nevada law, including the Nevada Revised Statues, and the common and constitutional law of Nevada.

The total number of shares of stock which the Company is authorized to issue is 200,000,000 shares of capital stock, consisting of 190,000,000 shares of common stock, $0.001 par value per share, and 10,000,000 shares of preferred stock, $0.001 par value per share.

As of date of this prospectus, we have 5,151,391 shares of common stock issued and outstanding held by 78 stockholders of record.

**Common Stock**

The holders of our common stock are entitled to the following rights:

*<u>Voting Rights</u>*. Each share of our common stock entitles its holder to one vote per share on all matters to be voted or consented upon by the stockholders. Holders of our common stock are not entitled to cumulative voting rights with respect to the election of directors.

*<u>Dividend Rights</u>*. Subject to limitations under Nevada law and preferences that may apply to any shares of preferred stock that we may decide to issue in the future, holders of our common stock are entitled to receive ratably such dividends or other distributions, if any, as may be declared by our Board out of funds legally available therefor.

*<u>Liquidation Rights</u>*. In the event of the liquidation, dissolution or winding up of our business, the holders of our common stock are entitled to share ratably in the assets available for distribution after the payment of all of our debts and other liabilities, subject to the prior rights of the holders of our preferred stock.

*<u>Other Matters</u>*. The holders of our common stock have no subscription, redemption, or conversion privileges. Our common stock does not entitle its holders to preemptive rights. All of the outstanding shares of our common stock are fully paid and non-assessable. The rights, preferences and privileges of the holders of our common stock are subject to the rights of the holders of shares of any series of preferred stock which we may issue in the future.

**Preferred Stock**

We are authorized to issue up to 10,000,000 shares of "blank check" preferred stock. Our Board of Directors has the authority, without further stockholder authorization, to issue from time-to-time shares of preferred stock in one or more series and to fix the terms, limitations, relative rights and preferences and variations of each series. Although we have no present plans to issue additional shares of preferred stock, the issuance of shares of preferred stock, or the issuance of rights to purchase such shares, could decrease the amount of earnings and assets available for distribution to the holders of common stock, and could adversely affect the rights and powers, including voting rights, of our common stock, and could have the effect of delaying, deterring or preventing a change of control of us or an unsolicited acquisition proposal.

***Series X Preferred Stock***

Pursuant to the Series X Certificate of Designation filed with the Secretary of State of Nevada on October 3, 2024, we are authorized to issue up to 5,000 shares of Series X Preferred Stock with a stated value of $0.001 per share.

Each share of Series X Preferred Stock is entitled to 1,000 votes. The holders of shares of Series X Preferred Stock are entitled to vote on all matters on which our common stock shall be entitled to vote unless prohibited by law or as set forth in the Certificate of Designation.

The holders of the Series X Preferred Stock are not entitled to dividends. Upon the event of liquidation, dissolution or winding up of the Company, voluntary or involuntary, the holders of our Series X Preferred Stock would be entitled to receive the initial stated value of our preferred stock.

As of the date of this prospectus, there were 5,000 shares of Series X Preferred Stock issued and outstanding, all of which are owned by YQR Trust, as a part of the Controlling Group.

***Series B Preferred Stock***

Pursuant to a Series B Certificate of Designation filed with the Secretary of State of Nevada on June 5, 2025, we are authorized to issue up to 1,250,000 shares of Series B Preferred Stock with a stated value of $4.00 per share. As of the date of the prospectus, we have sold an aggregate of 200,000 shares of Series B Preferred Stock, consisting of:

● 75,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $300,000 pursuant to a securities purchase agreement dated May 27, 2025;

● 25,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $100,000 pursuant to a securities purchase agreement, dated June 24, 2025;

● 25,000 and 37,500 shares of Series B Preferred Stock to two accredited investors, for an aggregate purchase price of $100,000 and $150,000, respectively, pursuant to securities purchase agreements, dated July 7, 2025;

● 37,500 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $150,000 pursuant to a securities purchase agreement, dated July 9, 2025.

<u>Automatic Conversion</u>. Pursuant to the Series B Certificate of Designation, in connection with, and on the closing of a Qualified Public Offering, Qualified Financing or Qualified Disposition, all of the outstanding shares of Series B Preferred Stock shall automatically convert along with the aggregate accrued or accumulated and unpaid dividends thereon into an aggregate number of shares of common stock as is determined by dividing the stated value per share along with the aggregate accrued or accumulated and unpaid dividends on the outstanding shares of Series B Preferred Stock by the Conversion Price.

● "*<u>Qualified Public Offering</u>*" is defined in the Series B Certificate of Designation as the sale, in a firm commitment underwritten public offering of securities of the Company pursuant to an effective registration statement under the Securities Act, following which the common stock of the Company shall be listed on any national securities exchange.

● "*<u>Qualified Financing</u>*" is defined in the Series B Certificate of Designation as an equity financing with gross proceeds greater than $3,000,000.

● "*<u>Qualified Disposition</u>*" is defined in the Series B Certificate of Designation as any sale, transfer, or conveyance to another Person or entity of all or substantially all of the property and assets of the Company for cash.

● "*<u>Conversion Price</u>*" means 70% of the purchase price per share in a Qualified Public Offering, Qualified Financing Offering Price or Qualified Disposition Price.

<u>Accrual and Payment of Dividends.</u> In the event the Qualified Public Offering is not consummated by December 31, 2025, dividends on such share of Series B Preferred Stock shall accrue, whether or not declared by the Board and whether or not there are funds legally available for the payment of dividends, at the rate of 8% per annum on the sum of the Liquidation Value which is $4.00 per share of Series B Preferred Stock (as adjusted for any stock splits, stock dividends, recapitalizations, or similar transaction with respect to the Series B Preferred Stock). All accrued dividends on any share shall be paid in cash only when, as and if declared by the Board out of funds legally available therefor or upon a Liquidation of the Series B Preferred Stock; provided, that to the extent not paid on the last day of March, June, September, and December of each calendar year (each such date, a "Dividend Payment Date"), all accrued dividends on any share shall accumulate and compound on the applicable Dividend Payment Date whether or not declared by the Board and shall remain accumulated, compounding dividends until paid pursuant hereto or converted pursuant to the terms herein. All accrued and accumulated dividends on the shares shall be prior and in preference to any dividend on any junior securities and shall be fully declared and paid before any dividends are declared and paid, or any other distributions or redemptions are made, on any junior securities, other than to (a) declare or pay any dividend or distribution payable on the common stock in shares of common stock or (b) repurchase common stock held by employees or consultants of the Company upon the termination of their employment or services pursuant to agreements providing for such repurchase.

<u>Liquidation</u>. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company (a "Liquidation"), the holders of shares of Series B Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Company available for distribution to its stockholders, before any payment shall be made to the holders of junior securities by reason of their ownership thereof, an amount in cash equal to the aggregate Liquidation Value of all shares held by such holder, plus all unpaid accrued and accumulated dividends on all such shares (whether or not declared).

In addition to and after payment in full of all preferential amounts required to be paid to the holders of Series B Preferred Stock upon a Liquidation, the holders of shares of Series B Preferred Stock then outstanding shall be entitled to participate with the holders of shares of junior securities then outstanding, pro rata as a single class based on the number of outstanding shares of Junior Securities on an as-converted basis held by each holder as of immediately prior to the Liquidation, in the distribution of all the remaining assets and funds of the Company available for distribution to its stockholders.

If upon any Liquidation the remaining assets of the Company available for distribution to its stockholders shall be insufficient to pay the holders of the shares of Series B Preferred Stock the full preferential amount to which they are entitled, (i) the holders of the shares shall share ratably in any distribution of the remaining assets and funds of the Company in proportion to the respective full preferential amounts which would otherwise be payable in respect of the Series B Preferred Stock in the aggregate upon such Liquidation if all amounts payable on or with respect to such shares were paid in full, and (ii) the Company shall not make or agree to make any payments to the holders of Junior Securities.

<u>Voting</u>. The Series B Preferred Stock are not entitled to any votes with respect to any and all matters presented to the stockholders of the Company for their action or consideration (whether at a meeting of stockholders of the Company, by written action of stockholders in lieu of a meeting or otherwise), except as provided by law.

<u>Reissuance of Series B Preferred Stock</u>. Any shares of Series B Preferred Stock converted or otherwise acquired by the Company shall be canceled and retired as authorized and issued shares of capital stock of the Company and no such shares shall thereafter be reissued, sold, or transferred.

<u>Protective Provisions</u>. No provision of the Series B Certificate of Designation may be amended, modified, or waived except by an instrument in writing executed by the Company and the holders of not less than two-thirds of the then total outstanding shares of Series B Preferred Stock (a "Supermajority Interest") and any such written amendment, modification, or waiver will be binding upon the Company and each holder of Series B Preferred Stock; provided, that no such action shall change or waive (a) the definition of Liquidation Value, or (b) the rate at which or the manner in which dividends on the Series B Preferred Stock accrue or accumulate or the times at which such dividends become payable without the prior written consent of each holder of outstanding shares of Series B Preferred Stock; provided, further, that no amendment, modification, or waiver of the terms or relative priorities of the Series B Preferred Stock may be accomplished by the merger, consolidation, or other transaction of the Company with another Company or entity unless the Company has obtained the prior written consent of the all of the holders of the Series B Preferred Stock.

<u>Redemption</u>. The Series B Certificate of Designation does contain any redemption provisions.

**Anti-Takeover Effects of Nevada Law**

 ****

***Business Combinations***

The "business combination" provisions of Sections 78.411 to 78.444, inclusive, of the *Nevada Revised Statutes* ("NRS") generally prohibit a Nevada corporation with at least 200 stockholders from engaging in various "combination" transactions with any interested stockholder for a period of two years after the date of the transaction in which the person became an interested stockholder, unless the transaction is approved by the board of directors prior to the date the interested stockholder obtained such status or the combination is approved by the board of directors and thereafter is approved at a meeting of the stockholders by the affirmative vote of stockholders representing at least 60% of the outstanding voting power held by disinterested stockholders, and extends beyond the expiration of the two-year period, unless:

● the combination was approved by the board of directors prior to the person becoming an interested stockholder or the transaction by which the person first became an interested stockholder was approved by the board of directors before the person became an interested stockholder or the combination is later approved by a majority of the voting power held by disinterested stockholders; or

● if the consideration to be paid by the interested stockholder is at least equal to the highest of: (a) the highest price per share paid by the interested stockholder within the two years immediately preceding the date of the announcement of the combination or in the transaction in which it became an interested stockholder, whichever is higher, (b) the market value per share of common stock on the date of announcement of the combination and the date the interested stockholder acquired the shares, whichever is higher, or (c) for holders of preferred stock, the highest liquidation value of the preferred stock, if it is higher.

A "combination" is generally defined to include mergers or consolidations or any sale, lease exchange, mortgage, pledge, transfer, or other disposition, in one transaction or a series of transactions, with an "interested stockholder" having: (a) an aggregate market value equal to 5% or more of the aggregate market value of the assets of the corporation, (b) an aggregate market value equal to 5% or more of the aggregate market value of all outstanding shares of the corporation, (c) 10% or more of the earning power or net income of the corporation, and (d) certain other transactions with an interested stockholder or an affiliate or associate of an interested stockholder.

In general, an "interested stockholder" is a person who, together with affiliates and associates, owns (or within two years, did own) 10% or more of a corporation's voting stock. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may discourage attempts to acquire our Company even though such a transaction may offer our stockholders the opportunity to sell their stock at a price above the prevailing market price.

***Control Share Acquisitions***

The "control share" provisions of Sections 78.378 to 78.3793, inclusive, of the NRS apply to "issuing corporations" that are Nevada corporations with at least 200 stockholders, including at least 100 stockholders of record who are Nevada residents, and that conduct business directly or indirectly in Nevada. The control share statute prohibits an acquirer, under certain circumstances, from voting its shares of a target corporation's stock after crossing certain ownership threshold percentages, unless the acquirer obtains approval of the target corporation's disinterested stockholders. The statute specifies three thresholds: one-fifth or more but less than one-third, one-third but less than a majority, and a majority or more, of the outstanding voting power. Generally, once an acquirer crosses one of the above thresholds, those shares in an offer or acquisition and acquired within 90 days thereof become "control shares" and such control shares are deprived of the right to vote until disinterested stockholders restore the right. These provisions also provide that if control shares are accorded full voting rights and the acquiring person has acquired a majority or more of all voting power, all other stockholders who do not vote in favor of authorizing voting rights to the control shares are entitled to demand payment for the fair value of their shares in accordance with statutory procedures established for dissenters' rights.

A corporation may elect to not be governed by, or "opt out" of, the control share provisions by making an election in its articles of incorporation or bylaws, provided that the opt-out election must be in place on the 10th day following the date an acquiring person has acquired a controlling interest, that is, crossing any of the three thresholds described above. We have not opted out of the control share statutes and will be subject to these statutes if we are an "issuing corporation" as defined in such statutes.

The effect of the Nevada control share statutes is that the acquiring person, and those acting in association with the acquiring person, will obtain only such voting rights in the control shares as are conferred by a resolution of the stockholders at an annual or special meeting. The Nevada control share law, if applicable, could have the effect of discouraging takeovers of our Company.

**Transfer Agent and Registrar**

The transfer agent and registrar for our common stock is Colonial Stock Transfer. The address for Colonial Stock Transfer is 7840 S 700 E, Sandy, UT 84070, and the telephone number is (801) 355-5740.

**SHARES ELIGIBLE FOR FUTURE SALE**

Future sales of substantial amounts of our common stock, including stocks issued upon the exercise of outstanding options and warrants, in the public market after this offering, or the possibility of these sales occurring, could cause the prevailing market price for our common stock to fall or impair our ability to raise equity capital in the future.

Immediately following the closing of this offering, we will have 6,795,439 shares of common stock issued and outstanding. In the event the underwriters exercise the over-allotment option in full, we will have 6,588,891 shares of common stock issued and outstanding. The common stock sold in this offering will be freely tradable without restriction or further registration or qualification under the Securities Act.

Previously issued shares that were not offered and sold in this offering, as well as stocks issuable upon the exercise of previously issued warrants and subject to employee stock options, are or will be upon issuance, "restricted securities," as that term is defined in Rule 144 under the Securities Act. These restricted securities are eligible for public sale only if such public resale is registered under the Securities Act or if the resale qualifies for an exemption from registration under Rule 144 or Rule 701 under the Securities Act, which are summarized below.

**Rule 144**

All of the shares of our common stock outstanding prior to the closing of this offering are "restricted securities," as that term is defined in Rule 144 under the Securities Act and may be sold publicly in the United States only if they are subject to an effective registration statement under the Securities Act or pursuant to an exemption from the registration requirement, such as those provided by Rule 144 and Rule 701 promulgated under the Securities Act. After the consummation of the public offering, the remaining outstanding shares of common stock, other than the 100,000 shares of common stock covered by the Resale Prospectus, will be deemed to be "restricted securities" as defined in Rule 144. In general, a person who has beneficially owned restricted stocks for at least twelve months, or at least six months in the event we have been a reporting company under the Exchange Act for at least ninety (90) days before the sale, would be entitled to sell such securities, provided that such person is not deemed to be an affiliate of ours at the time of sale or to have been an affiliate of ours at any time during the ninety (90) days preceding the sale. A person who is an affiliate of ours at such time would be subject to additional restrictions, by which such person would be entitled to sell within any three-month period only a number of shares that do not exceed the greater of the following:

● 1% of the number of common stocks then outstanding, or

● 1% of the average weekly trading volume of our common stocks during the four calendar weeks preceding the filing by such person of a notice on Form 144 with respect to the sale,

provided that, in each case, we are subject to the periodic reporting requirements of the Exchange Act for at least ninety (90) days before the sale. Rule 144 trades must also comply with the manner of sale, notice and other provisions of Rule 144, to the extent applicable. As of the date of this prospectus, 5,151,391 shares of common stock are issued and outstanding, all of which are restricted securities that may be sold under Rule 144 of the Securities Act.

**Lock-Up Agreements**

We and our directors, officers and certain stockholders who are holders of 5% or more of the outstanding shares of common stock as of the effective date of the registration statement of which this prospectus is a part have agreed with the underwriters not to, without the prior written consent of the representatives, for a period of 6 months after the consummation of this offering, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any classes of our stocks or any securities convertible into or exercisable or exchangeable for any classes of our stocks, (ii) file or caused to be filed any registration statement with the SEC, relating to the offering of any classes of our stocks or any securities convertible into or exercisable or exchangeable for any classes of our stocks, (iii) complete any offering of debt securities, other than entering into a line of credit with a traditional bank, or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any classes of our stocks, whether any such transaction described in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of any classes of our stocks or such other securities, in cash or otherwise. 3,707,500 shares of common stock will be subject to the lock-up agreements. For further details on the lock-up agreements, see the section entitled "*Underwriting—No Sales of Similar Securities*."

In addition, we have entered into five joint ventures the Local Members pursuant to which the Local Members from the date of consummation of this offering until the six (6)-month anniversary thereof or such longer period as required by the underwriters in connection with this offering, have agreed to lock up all shares received in all equity issuances consummated prior to the date of the consummation of this offering pursuant to a lock up agreement in form and substance satisfactory to us. 60,000 shares of common stock collectively held by these Local Members will be subject to the lock-up agreements, in addition to 3,707,500 shares of common stock held by our directors, officers and certain stockholders who are holders of 5% or more of the outstanding shares of common stock as of the effective date of the registration statement.

**Regulation S**

Regulation S under the Securities Act provides that securities owned by any person may be sold without registration in the United States, provided that the sale is effected in an "offshore transaction" and no "directed selling efforts" are made in the United States (as these terms are defined in Regulation S) and subject to certain other conditions. In general, this means that our shares may be sold in some manner outside the United States without requiring registration in the United States.

**Rule 701**

In general, Rule 701 allows a stockholder who purchased shares pursuant to a written compensatory plan or contract and who is not deemed to have been an affiliate of ours during the immediately preceding ninety (90) days to sell those shares in reliance upon Rule 144, but without being required to comply with the public information, holding period, volume limitation or notice provisions of Rule 144. All holders of Rule 701 shares, however, are required to wait until ninety (90) days after the date of this prospectus before selling shares pursuant to Rule 701.

**Selling Stockholder Resale Prospectus**

As described in the Explanatory Note to the registration statement of which this prospectus forms a part, the registration statement also contains the Resale Prospectus to be used in connection with the potential resale by certain selling stockholders of our common stock. These shares of common stock have been registered to permit public resale of such shares, and the Selling Stockholders may offer the shares for resale from time to time pursuant to the Resale Prospectus. The Selling Stockholders may also sell, transfer or otherwise dispose of all or a portion of their shares in transactions exempt from the registration requirements of the Securities Act or pursuant to another effective

**MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS**

This section summarizes certain material U.S. federal income tax considerations that may be associated with the purchase, ownership, and disposition of our common stock by U.S. holders (as defined below) and non-U.S. holders (as defined below). This summary is not intended to be a complete summary of the U.S. federal income tax consequences to purchasers of our stock and does not discuss any state, local or other tax consequences, of an investment in our company. Moreover, this summary addresses only our common stock that are held as capital assets by holders who acquire our common stock in this offering. The discussion does not discuss all of the U.S. federal income tax consequences that may be relevant to a potential investor in our company in light of such investor's particular circumstances or investors subject to special rules, such as brokers and dealers in securities, certain financial institutions, regulated investment companies, real estate investment trusts, tax-exempt organizations, insurance companies, persons holding our stocks as part of a hedging, integrated, or conversion transaction or a straddle, or as part of any other risk reduction transaction, traders in securities that elect to use a mark-to-market method of accounting for their stocks holdings, partnerships or other entities treated as partnerships for U.S. federal income tax purposes, persons who hold directly or constructively at least 5% of our stocks, or persons liable for the alternative minimum tax or the Medicare tax on certain investment income. This summary does not address any tax law other than the U.S. federal income tax law, including any estate tax law or any foreign, state or local income tax law.

Each potential investor is urged and expected to consult his, her or its own tax advisors prior to acquiring any of our securities to discuss his, her or its own tax and financial situation, including the application and effect of U.S. federal, state, local, and other tax laws and any possible changes in the tax laws that may occur after the date of this prospectus. This section is not to be construed as tax advice or as a substitute for careful tax planning.

The discussion herein is based on existing law as contained in the Internal Revenue Code of 1986, as amended (the "Code"), currently applicable Treasury Regulations thereunder, or the Regulations, administrative rulings and court decisions as of the date hereof, all of which are subject to change by legislative, judicial and administrative action, which change may in any given instance have a retroactive effect. No rulings have been or will be requested from the Internal Revenue Service (the "IRS") or any other taxing authority concerning any of the tax matters discussed herein. Furthermore, no statutory, administrative, or judicial authority directly addresses many of the U.S. federal income tax issues pertaining to the treatment of our stocks or instruments similar to our stocks. As a result, we cannot assure you that the IRS or the courts will agree with the tax consequences described in this summary. The IRS or a court may disagree with the following discussion or with any of the positions taken by the company for U.S. federal income tax reporting purposes, including the positions taken with respect to, for example, the classification of our company as a partnership. A different treatment of our securities or our company from that described below could adversely affect the amount, timing, character, and manner for reporting income, gain, or loss in respect of an investment in our securities.

As used herein, the term "U.S. holder" means a beneficial owner of shares of our common stock or of warrants that is (i) an individual who is a citizen or resident of the United States, (ii) a corporation that is created or organized in the United States or under the laws of the United States or any political subdivision thereof, (iii) an estate whose income is includible in its gross income for U.S. federal income tax purposes, regardless of its source, (iv) a trust if a U.S. court is able to exercise primary supervision over the administration of the trust and one or more United States persons have the authority to control all substantial decisions of the trust, or (v) a U.S. state, a local government or any instrumentality thereof.

As used herein, the term "non-U.S. holder" means any beneficial owner of shares of our stocks or of warrants (other than a partnership or other entity treated as a partnership) that is not a U.S. holder.

If a partnership (or other entity or arrangement treated as a partnership for U.S. federal income tax purposes) holds shares or warrants of our company, the U.S. tax treatment of any partner in such partnership (or other entity) will generally depend upon the status of the partner and the activities of the partnership. **If you are a partner of a partnership (or similarly treated entity) that acquires, holds, or sells our stocks or warrants, we urge you to consult your own tax adviser, as to the particular U.S. federal income tax consequences to you of the purchase, ownership and disposition of stocks or warrants, as well as any consequences to you arising under the laws of any other taxing jurisdiction.**

**PROSPECTIVE INVESTORS SHOULD CONSULT THEIR TAX ADVISORS REGARDING THE TAX CONSEQUENCES OF THE OWNERSHIP AND DISPOSITION OF OUR COMMON STOCK IN THEIR PARTICULAR CIRCUMSTANCES.**

**CONSEQUENCES TO U.S. HOLDERS**

The following is a summary of the U.S. federal income tax consequences that will apply to a U.S. holder of our securities. For purposes of this discussion, you are a U.S. holder if, for U.S. federal income tax purposes, you are a beneficial owner of our securities, other than a partnership, that is:

● an individual citizen or resident of the United States;

● a corporation or other entity taxable as a corporation created or organized in the United States or under the laws of the United States, any State thereof or the District of Columbia;

● an estate or trust whose income is subject to U.S. federal income tax regardless of its source; or

● a trust (x) whose administration is subject to the primary supervision of a U.S. court, and which has one or more "United States persons" (within the meaning of Section 7701(a)(30) of the Code) who have the authority to control all substantial decisions of the trust or (y) which has made a valid election to be treated as a "United States person."

**Distributions**

As described in the section titled "Dividend Policy," we have never declared or paid cash dividends on our common stock and do not anticipate paying any dividends on our common stock in the foreseeable future. However, if we do make distributions in cash or other property on our common stock, those payments will constitute dividends for U.S. tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. To the extent our distributions exceed both our current and our accumulated earnings and profits, the excess will constitute a return of capital that will first reduce your basis in our common stock, but not below zero, and any remaining amounts will be treated as gain from the sale or other disposition of stock as described below under "—Sale, Exchange or Other Taxable Disposition of Common Stock."

Dividend income may be taxed to an individual U.S. holder at rates applicable to long-term capital gains, provided that a minimum holding period and other limitations and requirements are satisfied with certain exceptions. Any dividends that we pay to a U.S. holder that is a corporation may qualify for the dividends received deduction if the requisite holding period is satisfied, subject to certain limitations. U.S. holders should consult their own tax advisors regarding the holding period and other requirements that must be satisfied in order to qualify for the reduced tax rate on dividends or the dividends-received deduction.

**Sale, Exchange or Other Taxable Disposition of Common Stock**

A U.S. holder will generally recognize capital gain or loss on the sale, exchange or other taxable disposition of shares of our common stock. The amount of gain or loss will equal the difference between the amount realized on the sale and such U.S. holder's adjusted tax basis in such shares. The amount realized will include the amount of any cash and the fair market value of any other property received in exchange for such shares. A U.S. holder's adjusted tax basis in its shares of common stock will generally equal the U.S. holder's acquisition cost or purchase price, less any prior distributions treated as a return of capital. Gain or loss will be long-term capital gain or loss if the U.S. holder has held the shares of common stock for more than one year. Long-term capital gains of non-corporate U.S. holders are generally taxed at preferential rates. The deductibility of capital losses is subject to certain limitations.

**Information Reporting and Backup Withholding**

In general, information reporting requirements may apply to dividends paid to a U.S. holder and to the proceeds of the sale or other disposition of our common stock, unless the U.S. holder is an exempt recipient. Backup withholding may apply to such payments if the U.S. holder fails to provide a taxpayer identification number, a certification of exempt status or has been notified by the IRS that it is subject to backup withholding (and such notification has not been withdrawn).

Any amounts withheld under the backup withholding rules will be allowed as a refund or a credit against a U.S. holder's U.S. federal income tax liability provided the required information is timely furnished to the IRS.

**Tax on Net Investment Income**

Individual U.S. Holders with adjusted gross income that exceeds a threshold amount ($200,000, or $250,000 if married filing jointly) may be subject to an additional 3.8% Medicare tax on some or all of such U.S. Holder's "net investment income." Net investment income generally includes income from the shares unless such income is derived in the ordinary course of the conduct of a trade or business (other than a trade or business that consists of certain passive or trading activities). You should consult your tax advisors regarding the effect this tax may have, if any, on your acquisition, ownership or disposition of common shares.

**CONSEQUENCES TO NON-U.S. HOLDERS**

The following is a summary of the U.S. federal income tax consequences that will apply to a non-U.S. holder of our securities. A "non-U.S. holder" is a beneficial owner of our securities (other than a partnership or an entity or arrangement treated as a partnership for U.S. federal income tax purposes) that, for U.S. federal income tax purposes, is not a U.S. holder. The term "non-U.S. holder" includes:

● a non-resident alien individual (other than certain former citizens and residents of the U.S. subject to U.S. tax as expatriates);

● a foreign corporation;

● an estate or trust that is not a U.S. holder; or

● any other Person that is not a U.S. holder

but generally does not include an individual who is present in the U.S. for 183 days or more or who is otherwise treated as a U.S. resident in the taxable year. If you are such an individual, you should consult your tax advisor regarding the U.S. federal income tax consequences of the acquisition, ownership or sale or other disposition of our securities.

**Distributions**

Subject to the discussion below regarding effectively connected income, any distribution paid to a non-U.S. holder, to the extent paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles) generally will constitute a dividend for U.S. federal income tax purposes and, provided such dividends are not effectively connected with the non-U.S. holder's conduct of a trade or business within the U.S., will be subject to U.S. withholding tax either at a rate of 30% of the gross amount of the dividend or such lower rate as may be specified by an applicable income tax treaty. In order to receive a reduced treaty rate, a non-U.S. holder must provide us with an IRS Form W-8BEN, IRS Form W-8BEN-E or other applicable IRS Form W-8 properly certifying qualification for the reduced rate. These forms must be provided prior to the payment of dividends and must be updated periodically. A non-U.S. holder eligible for a reduced rate of U.S. withholding tax pursuant to an income tax treaty should consult with its individual tax advisor to determine if you may obtain a refund of any excess amounts withheld by timely filing

an appropriate claim for refund with the IRS. If a non-U.S. holder holds our securities through a financial institution or other agent acting on the non-U.S. holder's behalf, the non-U.S. holder will be required to provide appropriate documentation to the agent, which then may be required to provide certification to us or our paying agent, either directly or through other intermediaries.

Dividends received by a non-U.S. holder that are effectively connected with its conduct of a U.S. trade or business (and, if required by an applicable income tax treaty, attributable to a permanent establishment or fixed base maintained by the non-U.S. holder in the United States) are generally exempt from such withholding tax if the non-U.S. holder satisfies certain certification and disclosure requirements. In order to obtain this exemption, the non-U.S. holder must provide us with an IRS Form W-8ECI or other applicable IRS Form W-8 properly certifying such exemption. Such effectively connected dividends, although not subject to withholding tax, are taxed at the same graduated U.S. federal income tax rates applicable to U.S. holders, net of certain deductions and credits. In addition, dividends received by a corporate non-U.S. holder that are effectively connected with its conduct of a U.S. trade or business may also be subject to a branch profits tax at a rate of 30% or such lower rate as may be specified by an applicable income tax treaty. Non-U.S. holders should consult their own tax advisors regarding any applicable tax treaties that may provide for different rules.

Any distribution not constituting a dividend will be treated first as reducing (but not below zero) the Non-U.S. holder's adjusted tax basis in its common stock and, to the extent such distribution exceeds the Non-U.S. holder's adjusted tax basis, as gain realized from the sale or other disposition of the common stock, which will be treated as described under "Non-U.S. Holders — Gain on Sale, Exchange or Other Taxable Disposition of Common Stock" below.

**Gain on Sale, Exchange, or Other Taxable Disposition of Common Stock**

Subject to the discussion below regarding backup withholding and foreign accounts, a non-U.S. holder generally will not be required to pay U.S. federal income tax on any gain realized upon the sale, exchange or other taxable disposition of our common stock unless:

● the gain is effectively connected with the non-U.S. holder's conduct of a U.S. trade or business (and, if required by an applicable income tax treaty, the gain is attributable to a permanent establishment or fixed base maintained by the non-U.S. holder in the United States);

● the non-U.S. holder is a non-resident alien individual who is present in the United States for a period or periods aggregating 183 days or more during the calendar year in which the sale or disposition occurs and certain other conditions are met; or

If the non-U.S. holder is described in the first bullet above, it will be required to pay tax on the net gain derived from the sale, exchange or other taxable disposition under regular graduated U.S. federal income tax rates, and a corporate non-U.S. holder described in the first bullet above also may be subject to the branch profits tax at a rate of 30%, or (in each case) such lower rate as may be specified by an applicable income tax treaty. An individual non-U.S. holder described in the second bullet above will be required to pay a flat 30% tax (or such lower rate specified by an applicable income tax treaty) on the gain derived from the sale, exchange or other taxable disposition, which gain may be offset by U.S. source capital losses for the year (provided the non-U.S. holder has timely filed U.S. federal income tax returns with respect to such losses). Non-U.S. holders should consult their own tax advisors regarding any applicable income tax or other treaties that may apply.

**Backup Withholding and Information Reporting**

Generally, we must report annually to the IRS the amount of dividends paid to you, your name and address and the amount of tax withheld, if any. A similar report will be sent to you. Pursuant to applicable income tax treaties or other agreements, the IRS may make these reports available to tax authorities in your country of residence. A Non-U.S.

holder may have to comply with certification procedures to establish that it is not a United States person in order to avoid information reporting and backup withholding requirements. The certification procedures required to claim a reduced rate of withholding under a treaty generally will satisfy the certification requirements necessary to avoid the backup withholding as well for example, by properly certifying your non-U.S. status on an IRS Form W-8BEN or IRS Form W-8BEN-E or other applicable IRS Form W-8. Notwithstanding the foregoing, backup withholding and information reporting may apply if either we or our paying agent has actual knowledge, or reason to know, that you are a U.S. person.

Backup withholding is not an additional tax; rather, the U.S. federal income tax liability of persons subject to backup withholding will be reduced by the amount of tax withheld. If withholding results in an overpayment of taxes, a refund or credit may generally be obtained from the IRS, provided that the required information is furnished to the IRS in a timely manner.

**Foreign Account Tax Compliance**

The Foreign Account Tax Compliance Act ("FATCA") generally imposes withholding tax at a rate of 30% on dividends on and gross proceeds from the sale or other disposition of our securities paid to a "foreign financial institution" (as specially defined under these rules), unless any such institution (1) enters into, and complies with, an agreement with the IRS to report, on an annual basis, information with respect to interests in, and accounts maintained by, the institution that are owned by certain U.S. persons and by certain non-U.S. entities that are wholly or partially owned by U.S. persons and to withhold on certain payments, or (2) if required under an intergovernmental agreement between the United States and an applicable foreign country, reports such information to its local tax authority, which will exchange such information with the U.S. authorities. An intergovernmental agreement between the United States and an applicable foreign country may modify these requirements. Accordingly, the entity through which our securities are held will affect the determination of whether such withholding is required. Similarly, dividends in respect of our securities held by an investor that is a non-financial non-U.S. entity that does not qualify under certain exceptions will generally be subject to withholding at a rate of 30%, unless such entity either (1) certifies to us or the applicable withholding agent that such entity does not have any "substantial United States owners" or (2) provides certain information regarding the entity's "substantial United States owners," which will in turn be provided to the U.S. Department of Treasury. Non-U.S. holders should consult their own tax advisors regarding the possible implications of this legislation on their investment in our securities.

**Each prospective investor should consult its own tax advisor regarding the particular U.S. federal, state and local and non-U.S. tax consequences of purchasing, owning and disposing of our securities, including the consequences of any proposed changes in applicable laws.**

**UNDERWRITING**

We will enter into an underwriting agreement with R.F. Lafferty & Co., Inc., as the representative of the underwriters (the "Representative"), with respect to the shares sold in this offering. Subject to certain conditions, we have agreed to sell to the underwriters, and each of the underwriters has agreed to purchase the shares listed next to its name in the table at the public offering price per unit less the underwriting discounts set forth on the cover page of this prospectus.

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| | |
|:---|:---|
| **Underwriter** | **Number of Shares** |
| R.F. Lafferty & Co., Inc. |  |
| Total |  |

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The underwriters have committed to purchase all of the shares offered by us other than those shares covered by the over-allotment option described below, if they purchase any. The obligations of the underwriters may be terminated upon the occurrence of certain events specified in the underwriting agreement. Furthermore, pursuant to the underwriting agreement, the underwriters' obligations are subject to customary conditions, representations and warranties contained in the underwriting agreement, such as receipt by the underwriters of officers' certificates and legal opinions.

We have agreed to indemnify the underwriters against specified liabilities, including liabilities under the Securities Act, and to contribute to payments the underwriters may be required to make in respect thereof.

The underwriters are offering the shares, subject to prior sale, when, as and if issued to and accepted by them, subject to the approval of legal matters by their counsel and other conditions specified in the underwriting agreement. The underwriters reserve the right to withdraw, cancel or modify offers to the public and to reject orders in whole or in part.

**Over-Allotment Option**

We have granted to the underwriters an option to purchase from us up to an additional 50,000 shares of our common stock, representing 15% of the shares sold in this offering, at the assumed public offering price of $4.00 per share, in any combination thereof, solely to cover over-allotments, if any. The shares of our common stock to be purchased pursuant to the over-allotment option will be acquired at the initial public offering price, less the underwriting discounts. The underwriters may exercise this option, in whole or in part, any time during the 45-day period after the closing date of the offering, but only to cover over-allotments, if any. To the extent the underwriters exercise the option, the underwriters will become obligated, subject to certain conditions, to purchase the shares for which they exercise the option.

**Underwriting Discount, Commissions and Expenses**

We estimate that the total expenses of the offering payable by us, excluding underwriting discounts and commissions, will be approximately $[●]. Under the underwriting agreement, we will pay the Representative fees and commissions equal to 7.25% of the gross proceeds raised in the offering, with any proceeds received by the Company in the offering from investors identified and introduced by the Company, attracting a reduced underwriting discount equal to 3.5% of the gross proceeds for those investors. The following table shows the per share price and total underwriting discounts and commissions to be paid to the underwriters. Such amounts are shown assuming both no exercise and full exercise of the underwriters' over-allotment.

The Representative has advised us that it proposes to offer the shares to the public at the public offering price set forth on the cover page of this prospectus and to certain dealers at that price less a concession not in excess of $___. After this offering, the public offering price, concession and reallowance to dealers may be changed by the underwriters. No such change will change the amount of proceeds we receive as set forth on the cover page of this prospectus. The shares are offered by the underwriters as stated herein, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part. The underwriters have informed us that they do not intend to confirm sales to any accounts over which they exercise discretionary authority.

The following table shows the underwriting discounts payable to the underwriters by us in connection with this offering. Such amounts are shown assuming both no exercise and full exercise of the underwriter's over-allotment option.

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| |
|:---|
| Initial public offering price (assumed) |
| Underwriting discounts and commissions <sup>(1)</sup> |
| Proceeds, before expenses, to us |

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(1) The underwriters will receive
 an underwriting discount equal to 7.25% on all stocks sold by the underwriters in this offering. In the case proceeds from the sale
 of our common stock are received from Company-originated investors, the underwriting discount will equal 3.5%.

(2) At an assumed offering
 price of $4.00 per share.

We have agreed to reimburse the Representative of the underwriters out of the proceeds of the offering for accountable legal expenses incurred by the Representative in connection with the offering, including: (a) all filing fees and expenses relating to the registration of the shares offered hereby with the Securities and Exchange Commission and the filing of the offering materials with FINRA; (b) all fees and expenses relating to the listing of the shares on Nasdaq and such other stock exchanges as we and the Representative together determine; (c) all fees, expenses and disbursements relating to background checks of the Company's officers and directors; (d) all fees, expenses and disbursements relating to the registration or qualification of the shares under "blue sky" or securities laws of such states of the U.S. and other jurisdictions designated by the Representative, including the reasonable fees and expenses of the Representative's blue sky counsel; (e) all fees and expenses associated with the "road show"; (f) the costs of all mailing and printing of documents relating to the offering; (g) the costs and expenses of a public relations firm; (h) the costs of preparing, printing and delivering certificates representing the shares; (i) fees and expenses of the transfer agent for the shares; (j) transfer and/or stamp taxes, if any, payable upon our transfer of the shares to the underwriters; (k) the fees and expenses of our accountants; (l) the fees and expenses of the Representative's and our legal counsel and other agents and representatives; (m) the $5,000 cost associated with the Representative's clearing system data services and communications expenses; and (n) the $10,000 cost associated with the Representative's Capital IQ system for comparable company analysis and valuation. For the sake of clarity, it is understood and agreed that the Company shall be responsible for the Representative's legal fees and expenses irrespective of whether the offering is consummated or not and that the maximum amount of legal fees, costs and expenses incurred by the Representative that the Company shall be responsible for shall not exceed $175,000 in the event of a closing of the offering, and shall not exceed $75,000 in the event that there is not a closing of the offering. We have also agreed to pay to the underwriters a non-accountable expense allowance equal to 1% of the gross proceeds of the offering payable at the closing of the offering.

**No Sales of Similar Securities**

We have agreed with the underwriters that not to, without the prior written consent of the Representative, for a period of 6 months after the consummation of this offering, (i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any classes of our stocks or any securities convertible into or exercisable or exchangeable for classes of our stocks, (ii) file or caused to be filed any registration statement with the SEC, relating to the offering of any classes of our stocks or any securities convertible into or exercisable or exchangeable for any classes of our stocks, (iii) complete any offering of debt securities, other than entering into a line of credit with a traditional bank, or (iv) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any classes of our stocks, whether any such transaction described in clause (i), (ii), (iii) or (iv) above is to be settled by delivery of any classes of our stocks or such other securities, in cash or otherwise.

**Representative's Warrants**

We have agreed to issue to the Representative or its designees at the closing of this offering warrants to purchase the number of shares of common stock equal to 4% of the aggregate number of shares sold in this offering. Notwithstanding the foregoing, in the event any proceeds are received by the Company in the offering from investors identified and introduced by the Company, then the warrants shall be reduced to two percent (2.0%) for those investors. The warrants will be exercisable at any time and from time to time, in whole or in part, during the four-and-a-half-year period commencing 6 months after the commencement of sales in this offering. The warrants will be exercisable at a per share price equal to 110% of the public offering price per share in the offering. The Representative's Warrants provide for registration rights (including a one-time demand registration right at the expense of the Company, an additional demand registration right at the expense of the warrant holders, and unlimited piggyback registration rights at the expense of the Company, each expiring 5 years from the closing of the offering) and customary anti-dilution provisions, as permitted by FINRA Rule 5110(g)(8).

The warrants have been deemed compensation by FINRA and are therefore subject to a 180-day lock-up pursuant to FINRA Rule 5110(e)(1) of FINRA. The Representative (or permitted assignees under FINRA Rule 5110(e)(2)) will not sell, transfer, assign, pledge, or hypothecate these warrants or the securities underlying these warrants, nor will they engage in any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the warrants or the underlying securities for a period of 180 days from the date of this prospectus. The warrants and the common stocks underlying the warrants are being registered as a part of the registration statement of which this prospectus forms a part and will be freely tradable upon the declaration of the effectiveness of such registration statement by the SEC.

The exercise price and number of shares of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, extraordinary cash dividend or recapitalization, reorganization, merger or consolidation.

**Determination of Offering Price**

In determining the initial public offering price, we and the Representative have considered a number of factors, including:

● the information set forth in this prospectus and otherwise available to the Representative;

● our prospects and the history and prospects for the industry in which we compete;

● an assessment of our management;

● our prospects for future revenue and earnings;

● the general condition of the securities markets at the time of this offering;

● the recent prices of, and demand for, shares sold by us prior to this offering;

● the recent market prices of, and demand for, publicly traded securities of generally comparable companies; and

● other factors deemed relevant by the Representative and us.

The estimated initial public offering price set forth on the cover page of this preliminary prospectus is subject to change as a result of market conditions and other factors. Neither we nor the Representative can assure investors that an active trading market will develop for our common stock, or that the shares will trade in the public market at or above the initial public offering price.

**Tail Financing**

If during the period that is twelve (12) months following the closing of this initial public offering, we consummate a financing with investors whom the Representative introduced to us during the period in which we engaged the Representative, we will pay the Representative a fee equal 8% of the proceeds of such financing and warrants to purchase a number of shares of our common stock equal to 4% of the aggregate number of shares of our common stock sold in such financing at an exercise price equal to 110% of the price of the shares of our common stock sold in such financing, provided that such financing is by an investor actually introduced to us in an offering in which we had direct knowledge of such investor's participation.

**Right of First Refusal**

We have granted the Representative the right to act as sole managing underwriter and dealer manager, book runner or sole placement agent for any and all of our future public and private equity, equity-linked, and debt (excluding commercial bank debt) offerings during the six-month period following the completion of this initial public offering.

**Indemnification**

We have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act, and to contribute to payments that the underwriters may be required to make for these liabilities.

**Price Stabilization, Short Positions, and Penalty Bids**

In connection with this offering, each underwriter may engage in transactions that stabilize, maintain or otherwise affect the price of our securities. Specifically, such underwriter may over-allot in connection with this offering by selling more securities than are set forth on the cover page of this prospectus. This creates a short position in our securities for such underwriter's own accounts. The short position may be either a covered short position or a naked short position. In a covered short position, the number of securities over-allotted by such underwriter is not greater than the number of securities that it may purchase in the over-allotment option. In a naked short position, the number of securities involved is greater than the number of securities in the over-allotment option. To close out a short position, such underwriter may elect to exercise all or part of the over-allotment option. Such underwriters may also elect to stabilize the price of our securities or reduce any short position by bidding for, and purchasing, securities in the open market.

The underwriters may also impose a penalty bid. This occurs when a particular underwriter or dealer repays selling concessions allowed to it for distributing a security in this offering because the underwriter repurchases that security in stabilizing or short covering transactions.

Finally, each underwriter may bid for, and purchase, shares of our securities in market-making transactions, including "passive" market-making transactions as described below.

These activities may stabilize or maintain the market price of our securities at a price that is higher than the price that might otherwise exist in the absence of these activities. The underwriters are not required to engage in these activities and may discontinue any of these activities at any time without notice. These transactions may be effected on Nasdaq, in the over-the-counter market, or otherwise.

In connection with this offering, the underwriters and selling group members, if any, or their affiliates may engage in passive market-making transactions in our common stock immediately prior to the commencement of sales in this offering, in accordance with Rule 103 of Regulation M under the Exchange Act. Rule 103 generally provides that:

● a passive market maker may not affect transactions or display bids for our securities in excess of the highest independent bid price by persons who are not passive market makers;

● net purchases by a passive market maker on each day are generally limited to 30% of the passive market maker's average daily trading volume in our common stock during a specified two-month prior period or 200 shares, whichever is greater, and must be discontinued when that limit is reached; and

● passive market-making bids must be identified as such.

**Electronic Distribution**

This prospectus in electronic format may be made available on websites or through other online services maintained by the underwriters, or by their affiliates. Other than this prospectus in electronic or printed format, the information on the underwriters' websites and any information contained on any other websites maintained by an underwriter is not part of this prospectus or the registration statement of which this prospectus forms a part, has not been approved and/or endorsed by us or the underwriters in their capacity as underwriters, and should not be relied upon by investors.

**Certain Relationships**

The Representative and its respective affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with us or our affiliates. The Representative has received, or may in the future receive, customary fees and commissions for these transactions.

**SELLING RESTRICTIONS**

Other than in the United States, no action has been taken by us or the underwriters that would permit a public offering of the securities offered by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will result in compliance with the applicable rules and regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised to inform themselves about and to observe any restrictions relating to the offering and the distribution of this prospectus. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus in any jurisdiction in which such an offer or a solicitation is unlawful.

 ****

***Canada***. The securities may be sold in Canada only to purchasers purchasing, or deemed to be purchasing, as principal that are accredited investors, as defined in National Instrument 45 106 *Prospectus Exemptions* or subsection 73.3(1) of the Securities Act (Ontario), and are permitted clients, as defined in National Instrument 31 103 *Registration Requirements, Exemptions and Ongoing Registrant Obligations*. Any resale of the securities must be made in accordance with an exemption from, or in a transaction not subject to, the prospectus requirements of applicable securities laws.

Securities legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if this prospectus (including any amendment thereto) contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory. The purchaser should refer to any applicable provisions of the securities legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.

Pursuant to section 3A.3 of National Instrument 33 105 *Underwriting Conflicts* (NI 33 105), the underwriters are not required to comply with the disclosure requirements of NI 33 105 regarding underwriter conflicts of interest in connection with this offering.

 ****

***European Economic Area***. In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive, or a Relevant Member State, an offer to the public of any of the securities may not be made in that Relevant Member State, except that an offer to the public in that Relevant Member State of any of the securities

may be made at any time under the following exemptions under the Prospectus Directive, if they have been implemented in that Relevant Member State:

● to any legal entity which is a qualified investor as defined in the Prospectus Directive;

● to fewer than 100 or, if the Relevant Member State has implemented the relevant provision of the 2010 PD Amending Directive, 150, natural or legal persons (other than qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the prior consent of the representatives for any such offer; or

● in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer of the securities shall result in a requirement for the publication by us or any underwriter of a prospectus pursuant to Article 3 of the Prospectus Directive.

For the purposes of this provision, the expression an "offer to the public" in relation to any of the securities in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and any of the securities to be offered so as to enable an investor to decide to purchase the securities, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State, the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State, and the expression "2010 PD Amending Directive" means Directive 2010/73/EU.

 ****

***United Kingdom***. ****Each of the underwriters have represented and agreed that:

● it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000, or the FSMA) received by it in connection with the issue or sale of the securities in circumstances in which Section 21(1) of the FSMA does not apply to us; and

● it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the securities in, from or otherwise involving the United Kingdom.

 ****

***Switzerland***. ****The securities may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange, or the SIX, or on any other stock exchange or regulated trading facility in Switzerland. This document has been prepared without regard to the disclosure standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art. 27 ff. of the SIX listing rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland. Neither this document nor any other offering or marketing material relating to the securities, or the offering may be publicly distributed or otherwise made publicly available in Switzerland.

Neither this document nor any other offering or marketing material relating to the offering, or the securities have been or will be filed with or approved by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer of the securities will not be supervised by, the Swiss Financial Market Supervisory Authority FINMA, and the offer of the securities has not been and will not be authorized under the Swiss Federal Act on Collective Investment Schemes, or CISA. Accordingly, no public distribution, offering or advertising, as defined in CISA, its implementing ordinances and notices, and no distribution to any non-qualified investor, as defined in CISA, its implementing ordinances and notices, shall be undertaken in or from Switzerland, and the investor protection afforded to acquirers of interests in collective investment schemes under CISA does not extend to acquirers of the securities.

***Australia***. No placement document, prospectus, product disclosure statement or other disclosure document has been lodged with the Australian Securities and Investments Commission in relation to the offering.

This prospectus does not constitute a prospectus, product disclosure statement or other disclosure document under the Corporations Act 2001, or the Corporations Act, and does not purport to include the information required for a prospectus, product disclosure statement or other disclosure document under the Corporations Act.

Any offer in Australia of the securities may only be made to persons (referred to as Exempt Investors) who are "sophisticated investors" (within the meaning of section 708(8) of the Corporations Act), "professional investors" (within the meaning of section 708(11) of the Corporations Act) or otherwise pursuant to one or more exemptions contained in section 708 of the Corporations Act so that it is lawful to offer the securities without disclosure to investors under Chapter 6D of the Corporations Act.

The securities applied for by Exempt Investors in Australia must not be offered for sale in Australia in the period of 12 months after the date of allotment under the offering, except in circumstances where disclosure to investors under Chapter 6D of the Corporations Act would not be required pursuant to an exemption under section 708 of the Corporations Act or otherwise or where the offer is pursuant to a disclosure document which complies with Chapter 6D of the Corporations Act. Any person acquiring securities must observe such Australian on-sale restrictions.

This prospectus contains general information only and does not take account of the investment objectives, financial situation or particular needs of any particular person. It does not contain any securities recommendations or financial product advice. Before making an investment decision, investors need to consider whether the information in this prospectus is appropriate to their needs, objectives and circumstances, and, if necessary, seek expert advice on those matters.

***Israel***. In the State of Israel, this prospectus shall not be regarded as an offer to the public to purchase securities under the Israeli Securities Law, 5728 - 1968, which requires a prospectus to be published and authorized by the Israel Securities Authority, if it complies with certain provisions of Section 15 of the Israeli Securities Law, 5728 - 1968, including, inter alia, if: (i) the offer is made, distributed or directed to not more than 35 investors, subject to certain conditions, or the Addressed Investors, or (ii) the offer is made, distributed or directed to certain qualified investors defined in the First Addendum of the Israeli Securities Law, 5728 - 1968, subject to certain conditions, or the Qualified Investors. The Qualified Investors shall not be taken into account in the count of the Addressed Investors and may be offered to purchase securities in addition to the 35 Addressed Investors. Our company has not and will not take any action that would require it to publish a prospectus in accordance with and subject to the Israeli Securities Law, 5728 - 1968. We have not and will not distribute this prospectus or make, distribute or direct an offer to subscribe for our securities to any person within the State of Israel, other than to Qualified Investors and up to 35 Addressed Investors.

Qualified Investors may have to submit written evidence that they meet the definitions set out in of the First Addendum to the Israeli Securities Law, 5728 - 1968. In particular, we may request, as a condition to be offered securities, that Qualified Investors will each represent, warrant and certify to us or to anyone acting on our behalf: (i) that it is an investor falling within one of the categories listed in the First Addendum to the Israeli Securities Law, 5728 - 1968, (ii) which of the categories listed in the First Addendum to the Israeli Securities Law, 5728 - 1968 regarding Qualified Investors is applicable to it, (iii) that it will abide by all provisions set forth in the Israeli Securities Law, 5728 - 1968 and the regulations promulgated thereunder in connection with the offer to be issued securities, (iv) that the securities that it will be issued are, subject to exemptions available under the Israeli Securities Law, 5728 - 1968: (a) for its own account, (b) for investment purposes only, and (c) not issued with a view to resale within the State of Israel, other than in accordance with the provisions of the Israeli Securities Law, 5728 - 1968, and (v) that it is willing to provide further evidence of its Qualified Investor status. Addressed Investors may have to submit written evidence in respect of their identity and may have to sign and submit a declaration containing, inter alia, the Addressed Investor's name, address and passport number or Israeli identification number.

**LEGAL MATTERS**

The validity of the shares of common stock offered by this prospectus will be passed upon for the Company by Sichenzia Ross Ference Carmel LLP, New York, New York. Certain legal matters relating to this offering will be passed upon for the underwriters by Lucosky Brookman LLP.

**EXPERTS**

Our financial statements appearing in this prospectus have been audited by dbb*mckennon*, an independent registered public accounting firm, as stated in their report, which is incorporated herein by reference. Such financial statements have been so incorporated in reliance upon the report of such firm given their authority as experts in auditing and accounting.

**WHERE YOU CAN FIND MORE INFORMATION**

We have filed a registration statement, of which this prospectus is a part, on Form S-1 with the SEC relating to this offering. This prospectus, which constitutes a part of the registration statement, does not contain all of the information in the registration statement and the exhibits filed with the registration statement. For further information pertaining to us and our common stock to be sold in this offering, you should refer to the registration statement and its exhibits. References in this prospectus to any of our contracts, agreements or other documents are not necessarily complete, and you should refer to the exhibits attached to the registration statement for copies of the actual contracts, agreements or documents.

We file periodic reports, proxy statements and other information with the SEC. These periodic reports, proxy statements and other information are available for inspection and copying at the SEC's public reference facilities and the website of the SEC referred to above. Additionally, we will make these filings available, free of charge, on our website at https://living.collabhome.io/ as soon as reasonably practicable after we electronically file such materials with, or furnish them to, the SEC. The information on our website, other than these filings, is not, and should not be, considered part of this prospectus and is not incorporated by reference into this document.

**FINANCIAL STATEMENTS**

**COLLAB Z INC.**

**UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**AS OF AND FOR THE SIX MONTHS ENDED MARCH 31, 2025 AND 2024**

**COLLAB Z INC.**

**INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**MARCH 31, 2025 AND 2024**

---

| | |
|:---|:---|
|  | **Pages** |
| [Unaudited Condensed Consolidated Balance Sheets as of March 31, 2025 and September 30, 2024](#b_001) | F-3 |
| [Unaudited Condensed Consolidated Statements of Operations for the six months ended March 31, 2025 and 2024](#b_002) | F-4 |
| [Unaudited Condensed Consolidated Statements of Common Stock Subject to Possible Redemption and Stockholders' Equity for the six months ended March 31, 2025 and 2024](#b_003) | F-5 |
| [Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended March 31, 2025 and 2024](#b_004) | F-6 |
| [Notes to the Unaudited Condensed Consolidated Financial Statements](#b_005) | F-7 |

---

**COLLAB Z INC.**

**UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS**

**AS OF MARCH 31, 2025 AND SEPTEMBER 30, 2024**

**(UNAUDITED)**

---

| | | |
|:---|:---|:---|
|  | **March 31,**<br>**2025** | **September 30,**<br>**2024** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $48725 | $105034 |
| &nbsp;&nbsp;&nbsp;Accounts receivable - related parties | 532194 | 349576 |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 29768 | 160000 |
| &nbsp;&nbsp;&nbsp;Due from related parties | 491834 | 2557033 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 76772 | 34264 |
| &nbsp;&nbsp;&nbsp;Loan receivable | 807725 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 1987018 | 3205907 |
| Deferred offering costs | 323392 |  |
| Investment in joint venture | 20000 |  |
| Intangible assets, net | 143944 | 151111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $2474354 | $3357018 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | $368971 | $161136 |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 47000 | 40000 |
| &nbsp;&nbsp;&nbsp;Due to related parties | 673083 | 1304916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1089054 | 1506052 |
| Line of credit |  | 642854 |
| Future equity obligations | 25000 | 25000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1114054 | 2173906 |
| Commitments and contingencies (Note 11) |  |  |
| Common stock subject to possible redemption, $0.001 par value, 10,000 and 0 shares issued and outstanding as of March 31, 2025 and September 30, 2024, respectively | 20000 |  |
| Stockholders' equity: |  |  |
| Preferred stock, $0.001 par value, 10,000,000 shares authorized, 5,000 designated as Series X; 5,000 shares issued and outstanding as of both March 31, 2025 and September 30, 2024 | 5 | 5 |
| Common stock, $0.001 par value, 190,000,000 shares authorized, 5,091,391 shares issued and outstanding as of both March 31, 2025 and September 30, 2024 | 5092 | 5092 |
| Additional paid-in capital | 324713 | 308713 |
| Retained earnings | 1010490 | 869302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1340300 | 1183112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities, common stock subject to possible redemption and stockholders' equity | $2474354 | $3357018 |

---

See accompanying notes to these financial statements.

**COLLAB Z INC.**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**FOR THE SIX MONTHS ENDED MARCH 31, 2025 AND 2024**

**(UNAUDITED)**

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2025** | **2024** |
| Revenue - related parties | $525636 | $413749 |
| Revenue | 282549 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 808185 | 413749 |
| Cost of revenue | 185957 | 76342 |
| Gross profit | 622228 | 337407 |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 10248 | 12358 |
| &nbsp;&nbsp;&nbsp;General and administrative | 466555 | 256796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 476803 | 269154 |
| Income from operations | 145425 | 68253 |
| Other income (expense) |  |  |
| &nbsp;&nbsp;&nbsp;Interest income | 17351 |  |
| &nbsp;&nbsp;&nbsp;Interest expense | (23006) |  |
| &nbsp;&nbsp;&nbsp;Other income | 1418 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income (expense) | (4237) |  |
| Provision for income taxes | - | - |
| Net income | $141188 | $68253 |
| Weighted average common shares outstanding - basic and diluted | 5092280 | 4550500 |
| Net income per common share - basic and diluted | $0.03 | $0.01 |

---

See accompanying notes to these unaudited condensed financial statements.

**COLLAB Z INC.**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMMON STOCK SUBJECT TO**

**POSSIBLE REDEMPETION AND STOCKHOLDERS' EQUITY**

**FOR THE SIX MONTHS ENDED MARCH 31, 2025 AND 2024**

**(UNAUDITED)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock Subject<br> to Possible** | **Common Stock Subject<br> to Possible** | | | | | | | |
|  | **Redemption** | **Redemption** | **Preferred Stock** | **Preferred Stock** | **Common Stock** | **Common Stock** | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Additional**<br>**Paid-in**<br>**Capital** | **Retained Earnings /**<br>**(Accumulated**<br>**Deficit)** | **Total**<br>**Stockholders'**<br>**Equity** |
| **Balances at September 30, 2024** |  | $- | 5000 | $5 | 5091391 | $5092 | $308713 | $869302 | $1183112 |
| Contributions |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |  |  | 16000 |  | 16000 |
| Shares issued pursuant to investment in joint venture | 10000 | 20000 |  |  |  |  |  |  |  |
| Net income | - | - | - | - | - | - | - | 141188 | 141188 |
| **Balances at March 31, 2025** | 10000 | $20000 | 5000 | $5 | 5091391 | $5092 | $324713 | $1010490 | $1340300 |
| **Balances at September 30, 2023** |  | $- | 5000 | $5 | 4550500 | $4551 | $417398 | $(81118) | $340836 |
| Contributions |  |  |  |  |  |  | 75000 |  | 75000 |
| Distributions |  |  |  |  |  |  | (144647) |  | (144647) |
| Net income | - | - | - | - | - | - | - | 68253 | 68253 |
| **Balances at March 31, 2024** | - | $- | 5000 | $5 | 4550500 | $4551 | $347751 | $(12865) | $339442 |

---

See accompanying notes to these unaudited condensed financial statements.

**COLLAB Z INC.**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**FOR THE SIX MONTHS ENDED MARCH 31, 2025 AND 2024**

**(UNAUDITED)**

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2025** | **2024** |
| **Cash flows from operating activities:** |  |  |
| Net income | $141188 | $68253 |
| Adjustments to reconcile net income to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Amortization | 26667 |  |
| &nbsp;&nbsp;&nbsp;Non-cash equity contributions | 16000 | 12000 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable - related parties | (182618) | 48575 |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 130232 |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (42508) |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | 32835 | (28967) |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 7000 | 100000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 128796 | 199861 |
| **Cash flows from investing activities:** |  |  |
| Capitalized software | (19500) | (80000) |
| Due from related parties, net of repayment | 2065199 | (238445) |
| Issuance of loan receivable | (1470000) |  |
| Repayments of loan receivable | 662275 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | 1237974 | (318445) |
| **Cash flows from financing activities:** |  |  |
| Due to related parties, net of repayment | (631833) | 246433 |
| Proceeds from line of credit | 1300000 |  |
| Repayments of line of credit | (1942854) |  |
| Deferred offering costs | (148392) |  |
| Contributions |  | 63000 |
| Distributions | - | (144647) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (1423079) | 164786 |
| **Net change in cash** | (56309) | 46202 |
| Cash at beginning of period | 105034 | 15913 |
| Cash at end of period | $48725 | $62115 |
| **Supplemental disclosure of cash flow information:** |  |  |
| Cash paid for income taxes | $- | $- |
| Cash paid for interest | $22352 | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |
| Shares issued pursuant to investment in joint venture | $20000 | $- |
| Deferred offering costs included in accrued expenses | $175000 | $- |

---

See accompanying notes to these unaudited condensed financial statements.

**COLLAB Z INC.**

**NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(UNAUDITED)**

**NOTE 1 – NATURE OF OPERATIONS**

Collab Z Inc. (the "Company") was formed on May 11, 2024 in the State of Nevada for the purpose of reorganizing and becoming the holding company for Collab CA LLC ("Collab CA"), a California limited liability company.

In December 2024, Collab CA became a direct, wholly owned subsidiary of the Company as a result of the closing of the Reorganization Agreement and Plan of Share Exchange dated December 30, 2024 (the "Reorganization Agreement" or "Reorganization"). Pursuant to the Reorganization Agreement, the sole member of Collab CA exchanged 100% of its member interests for 4,550,500 shares of the Company's common stock. As a result, the member of Collab CA became a shareholder of the Company and Collab CA became a direct, wholly owned subsidiary of the Company. Prior to the Reorganization, the sole member was given 5,000 shares of preferred stock giving the sole member direct and complete voting control of Collab Z since its inception.

The Reorganization is being accounted for as a reorganization of entities under common control by a control group. The accompanying financial statements have been presented to retroactively present the effect of the Reorganization. See Note 3 for further detail.

Collab CA is the main operating subsidiary engaged in various real estate services, including property management, construction and renovation management, as well EB-5 immigration investor services. Collab Z Inc., and its subsidiary, Collab CA, operate in the PropTech industry. The Company aims to transform property management by integrating community involvement and artificial intelligence to directly connect tenants with management tasks, eliminating intermediaries and enhancing efficiency.

The Company's headquarters are located in Berkeley, California.

**NOTE 2 – GOING CONCERN**

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company had $48,725 in cash as of March 31, 2025 and $491,834 in amounts due from related parties. The Company is heavily reliant on related parties as its primary revenue and cash flow source, and it has historically generated revenues from sources that may not be recurring.

The Company is early-stage, and expects to incur significant costs to expand its operations and conduct its business plan; which may result in future losses if it cannot effectively market its products and achieve market acceptance.

*Management's Plans* 

Management believes substantial doubt has been alleviated based on the following:

The net accounts receivable, due to and from related parties balances at March 31, 2025, which have been or are expected to be fully collected and paid, provide for a net positive effect to cash of approximately $0.35 million. These funds are expected to provide the Company with operating capital sufficient to cover basic operations. The loan receivable balance at March 31, 2025, is expected to be fully collected, providing a positive effect of cash of approximately $0.8 million. In addition, the Company is seeking to raise capital via an equity offering. In the event the Company does not complete an offering, the Company expects to seek additional funding through private equity, debt and/or related party financings. The Company may not be able to obtain financing on acceptable terms, or at all.

**NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

***Basis of Presentation***

The unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The unaudited condensed consolidated financial statements included herein comprise the consolidated results of the Company and its subsidiaries and all intercompany transactions have been eliminated.

The unaudited condensed consolidated financial statements represent a) the historical operations of Collab CA, which was formed on November 25, 2019, b) the historical operations of Collab Living LLC ("Collab Living"), a Delaware limited liability company formed on May 15, 2023, c) the initial capital structure of Collab Z, which was completed upon the Reorganization (see Note 1), and d) the results of Collab Z, which solely consisted of the issuance of shares (see Note 8).

In accordance with ASC 805-50-15-6, the Company determined that the share exchange was a reorganization of entities under common control. Collab Z and Collab CA maintained common control for the entire period for which the financial statements are presented through the Reorganization. The Company concluded that the entities were under common control via common ownership and common management. Specifically, the founder and former managing member of Collab CA is the founder and former Chairman of the Company and along with the YRQ Trust for which the trustees and beneficiaries are immediate family members, make up a control group that held voting and management control of Collab CA and the Company prior to and after the Reorganization.

Therefore, in accordance with ASC 250-10-45 and ASC 805-50-45, the financial statements require retrospective consolidation of the entities for all periods presented. The financial statements for the periods ended March 31, 2025 and 2024 are prepared on a consolidated basis, which includes Collab CA and Collab Living.

***Principles of Consolidation***

 

The Company evaluates its relationships with other entities to identify whether they are variable interest entities ("VIE") as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810, Consolidation ("ASC 810"), and to assess whether it is the primary beneficiary of such entities. If the determination is made that the Company is the primary beneficiary, then that entity is consolidated. The Company evaluated whether it was the primary beneficiary with its various related party entities it transacts with, and determined it is not the primary beneficiary of any entities.

Collab Living is 50% owned by Collab CA, and it was determined that Collab CA was the primary beneficiary in 2024 and 2025. Per ASC 810-10-50, the Company concluded that Collab CA was the primary beneficiary via its obligation to absorb losses (i.e. non-substantive voting rights) and its power to direct activities that most significantly impact Collab Living's economic performance. Historically, Collab CA has funded the operations of Collab Living and Collab CA's management has directed all Collab Living's activities.

In accordance with ASC 810-10-45-25, Collab Living's results are consolidated within the Company's financial statements.

The separate assets, liabilities and results of operations of Collab Living are immaterial. Furthermore, the balance of non-controlling interests was nominal as of March 31, 2025 and 2024.

***Unaudited Interim Financial Information***

The unaudited interim consolidated financial statements and related notes have been prepared in accordance with U.S. GAAP for interim financial information, within the rules and regulations of the SEC. Certain information and disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The unaudited interim financial statements have been prepared on a basis consistent with the audited financial statements and in the opinion of management, reflect all adjustments, consisting of only normal recurring adjustments, necessary for the fair presentation of the results for the interim periods presented and of the financial condition as of the date of the interim balance sheet. The financial data and the other information disclosed in these notes to the interim financial statements related to the six-month periods are unaudited. Unaudited interim results are not necessarily indicative of the results for the full fiscal year.

The accompanying unaudited interim consolidated financial statements should be read in conjunction with the Company's audited financial statements and the notes thereto for the year ended September 30, 2024 included in the accompanying registration statement.

***Use of Estimates***

The preparation of the Company's unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions reflected in these unaudited condensed financial statements include, but are not limited to valuation of common stock. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.

 

***Significant Risks and Uncertainties***

 

The Company is subject to customary risks and uncertainties including, but not limited to, the need for protection of proprietary technology, dependence on key personnel, costs of services provided by third parties and limited operating history with third parties.

***Cash and Cash Equivalents***

The Company considers all highly liquid operating instruments with an original maturity of three months or less to be cash equivalents.

***Concentration of Credit Risk***

 

The Company's cash and cash equivalents are held at major financial institutions. There is a concentration of credit risk related to certain account balances in excess of the Federal Deposit Insurance Corporation insurance limit of $250,000 per account. The Company regularly monitors the financial stability of these financial institutions. At times the Company may hold amounts in excess of insured amounts.

***Deferred Offering Costs***

The Company complies with the requirements of Accounting Standards Codification ("ASC") 340-10-S99-1 with regards to offering costs. Prior to the completion of an offering, offering costs are capitalized. The deferred offering costs are charged to additional paid-in capital or as a discount to debt, as applicable, upon the completion of an offering or to expense if the offering is not completed. As of March 31, 2025, the Company has $323,392 in capitalized deferred offering costs.

***Investment in Joint Venture***

In March and April 2025, the Company entered into five separate limited liability company agreements (collectively, the "Joint Venture Agreements") with five unaffiliated entities to form joint venture companies in Nevada, wherein the Company holds a 40% ownership stake in each joint venture company. For four of the five joint venture agreements, the Company issued 10,000 shares of common stock for each joint venture entity, which were valued at $20,000 based on a fair value of $2.00 per share, as part of the capital funding for the joint venture. For the remaining agreement, the Company issued 20,000 shares of common stock for the joint venture entity, which were valued at $40,000 based on a fair value of $2.00 per share, as part of the capital funding for the joint venture. Each joint venture was established to pursue property management and related real estate activities in specific local markets using our community-based property management platform. These entities operate independently and are owned jointly by us and our respective joint venture partners. As of March 31, 2025, only one of the five joint venture agreements was in effect.

The Company holds an investment in a joint venture accounted for under the equity method in accordance with ASC 323, *Investments—Equity Method and Joint Ventures*. As of March 31, 2025, the carrying value of the investment was $20,000. The Company exercises significant influence over the joint venture but does not have a controlling interest. The investment was initially recognized at cost and will be subsequently adjusted for the Company's proportionate share of the joint venture's net income or loss and other comprehensive income. The carrying amount of the investment is assessed for impairment in accordance with ASC 323-10-35 when indicators of a loss in value are present.

The Company evaluated the joint venture agreement under ASC 810 and determined it was not the primary beneficiary. As such, the Company accounted for the investment under ASC 323 as noted above.

As of March 31, 2025, the joint venture had not yet commenced operations.

***Fair Value Measurements***

 

Certain assets and liabilities of the Company are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

● Level 1—Quoted prices in active markets for identical assets or liabilities.

● Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

● Level 3—Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The carrying values of the Company's assets and liabilities approximate their fair values. See Note 5 for fair value measurement disclosures.

***Related Parties***

Related parties are any entities or individuals that, through employment, ownership or other means, possess the ability to direct or cause the direction of the management and policies of the Company. The Company discloses related party transactions that are outside of normal compensatory agreements, such as salaries. The Company follows ASC 850, *Related Party Disclosures*, for the identification of related parties and disclosure of related party transactions.

***Revenue Recognition***

The Company recognizes revenue from services in accordance with FASB ASC Topic 606, *Revenue from Contracts with Customers* ("ASC 606"). Under ASC 606, the Company recognizes revenue when or as the Company's performance obligations are satisfied by transferring control of the promised services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps as prescribed by ASC 606:

&nbsp;&nbsp;&nbsp;&nbsp;(i) identify the contract(s) with a customer;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) identify the performance obligations in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;(iii) determine the transaction price;

&nbsp;&nbsp;&nbsp;&nbsp;(iv) allocate the transaction price to the performance obligations
 in the contract; and

&nbsp;&nbsp;&nbsp;&nbsp;(v) recognize revenue when (or as) the entity satisfies
 performance obligations.

The Company only applies the five-step model to contracts when it is probable that it will collect substantially all the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determine those that are performance obligations and assess whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The Company has applied ASC 606 on a portfolio basis. The Company has elected the practical expedients, allowing the recognition of incremental costs of obtaining a contract as an expense when incurred, and not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less.

The Company generates revenue through the following streams:

***Property Management***

 

The Company provides property management services for rental properties that include various elements based on the underlying contractual agreement. The Company earns a fixed percentage of monthly lease income. This revenue is recognized on an ongoing, monthly basis. The Company earns additional fees based on a fixed percentage of property-related expenses such as repairs and maintenance at the time the underlying costs are incurred. The Company, at times, is also eligible to earn commissions on the first month of a new lease agreement. Certain managed properties include a profit share arrangement based on guaranteed rental income whereby the Company shares in the excess rental income over the guaranteed amounts. No losses have been incurred based on these guarantees. The Company recognizes this revenue at the point in time the excess rental income is known.

***Development and Construction Management***

 

The Company provides services consisting of the oversight of property development and construction projects, including budget monitoring and timeline management. Development fees are recognized on an ongoing monthly basis through the completion of the service period.

***Procurement***

 

The Company facilitates procurement of materials and supplies for construction projects as well as provides related services for design of procured goods. Procurement fees related to ordered goods are recognized at a point in time upon the completion of the procurement service, which is shipment of the related materials. Revenue for design services are recognized at point in time when the related services are complete.

***Renovation Management***

 

Renovation management services include assisting in the acquisition, renovation, and disposition of properties. Renovation fees are recognized on an ongoing, monthly basis through the completion of the service period, which is based on the time elapsed of the renovation project. The Company also earns renovation service fees, which are recognized over time as the project progresses based on the actual costs incurred of the underlying renovation project. Acquisition fees are recognized at a point in time after the acquisition of the property.

***EB-5 Immigration Investor Services***

The Company identifies EB-5 immigration investment projects and assists investors with project identification, assistance and support during the project application process. Fees are recognized at a point in time upon the fulfillment of the EB-5 service obligations, which is when the EB-5 application package has been submitted. Payments are billed in two tranches, and any deferred revenue is recognized once performance obligations are met.

***Consulting Services***

The Company provides consulting services to third parties that are defined by service agreements. Consulting services may include terms whereby there are a set of deliverables required for which revenue will be recognized at a point in time when the deliverables are satisfied, or may relate to services that are performed periodically and recognized over time. Each contract is assessed for performance obligations. There is generally no right of return or refund related to these services.

During the six months ended March 31, 2025, the Company earned $200,000 related to a point-in-time contract, which included requirements for the Company to provide property management advisory services to customers. The fees were due upfront and recognized upon the completion of the performance obligations. During the six months ended March 31, 2025, the Company maintained other contracts related to EB5 and project funding consulting whereby

services are rendered over a contractual period. Payments under these services are due at the beginning of each month for the upcoming months' service period.

Each revenue source above is a different type of service being performed, and distinct from the other performance obligations.

***Disaggregation of Revenue***

A disaggregation of revenue for the six months ended March 31, 2025 and 2024 is as follows:

---

| | | |
|:---|:---|:---|
|  | **For the six months ended** | **For the six months ended** |
|  | **March 31,** | **March 31,** |
|  | **2025** | **2024** |
| Property management | $357414 | $271634 |
| Development and construction management | 119514 | 28500 |
| Procurement | 48708 | 15000 |
| Renovation management | - | 98615 |
| &nbsp;&nbsp;&nbsp;Revenue - related parties | 525636 | 413749 |
| Consulting income | 270000 |  |
| Property management-third party | 12549 | - |
| &nbsp;&nbsp;&nbsp;Revenue | 282549 | - |
| &nbsp;&nbsp;&nbsp;Total revenue | $808185 | $413749 |

---

Deferred revenue primarily represents customer billings on EB-5 contracts for services not yet rendered or procurement services where shipment of goods has not occurred. EB-5 services generally require several months between the time of agreement with the customer and the completion of performance obligations. As of March 31, 2025 and September 30, 2024, the Company has deferred revenue of $47,000 and $40,000, respectively.

***Cost of Revenue***

 

Cost of revenue includes operations personnel supporting the Company's real estate services, specifically those personnel who work directly on property management as well as development, construction, renovation and EB-5 projects. Cost of revenue also includes software costs incurred to maintain the Company's property management system, as well as amortization of capitalized software costs.

***Concentrations***

 

During the six months ended March 31, 2025 and 2024, 65% and 100% of the Company's revenues were with related party properties under common control and management, respectively.

During the six months ended March 31, 2025, three related party properties accounted 16%, 13% and 12% of the Company's total revenues, respectively. During the six months ended March 31, 2024, six related party properties accounted for an aggregate of 82% of the Company's total revenues, each ranging between 10-20% of revenues, respectively.

As of March 31, 2025 and September 30, 2024, 95% and 69% of the Company's accounts receivable were with related party properties under common control and management. As of March 31, 2025, four related party properties

accounted for 79% of the Company's total receivables. As of September 30, 2024, four related party properties accounted for 63% of the Company's total receivables, and EB-5 customers accounted for 31% of total receivables.

To date the Company has been highly dependent on related party customers as its primary source of revenue and cash flows from operations. The Company may be negatively affected by the loss of one of these customers, or a change in the related party relationship.

***Common Stock Subject to Possible Redemption***

The Company accounts for its shares of common stock subject to possible redemption in accordance with the guidance enumerated in ASC 480. Shares subject to mandatory redemption are classified as a liability instrument and is measured at fair value. Conditionally redeemable common shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company's control are classified as temporary equity. At all other times, common shares classified as stockholders' equity. The shares of common stock issued pursuant to the Joint Venture Agreements (see above and Note 8) feature certain redemption rights subject to the occurrence of uncertain future events, including the Company's contemplated future public offering, and therefore are classified within temporary or mezzanine equity.

 **

***Stock-Based Compensation***

 **

The Company accounts for stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation. The Company measures all stock-based awards granted to employees, directors and non-employee consultants based on the fair value on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. For awards with service-based vesting conditions, the Company records the expense for using the straight-line method. For awards with performance-based vesting conditions, the Company records the expense if and when the Company concludes that it is probable that the performance condition will be achieved.

The Company classifies stock-based compensation expense in its statement of operations in the same manner in which the award recipient's costs are classified.

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The Company was a private company and lacks company-specific historical and implied volatility information for its stock. Therefore, it estimates its expected stock price volatility based on the historical volatility of publicly traded peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company's stock options has been determined utilizing the "simplified" method for awards that qualify as "plain-vanilla" options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future. Forfeitures are recognized as they occur. Determining the appropriate fair value of stock-based awards requires the input of assumptions.

The assumptions used in calculating the fair value of stock-based awards represent management's best estimates and involve inherent uncertainties and the application of management's judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards.

 ****

***Net Income per Share***

 

Net earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period, excluding shares subject to redemption or forfeiture. The Company presents basic and diluted net earnings or loss per share. Diluted net earnings or loss per share reflect the actual weighted average of common shares issued and outstanding during the period, adjusted for potentially dilutive securities outstanding. Potentially dilutive securities are excluded from the computation of the diluted net loss per share if their inclusion would be anti-dilutive. As of March 31, 2025 and September 30, 2024, there were an indeterminable number of shares that were potentially dilutive based on the Company's outstanding future equity obligations for which conversion is contingent on a future event (see Note 8). As of March 31, 2025, diluted securities included options outstanding (see Note 9). Weighted average shares outstanding includes the 10,000 shares of common stock issued in March 2025 which are subject to possible redemption.

***Segment Reporting***

 ****

In accordance with ASC 280, Segment Reporting ("ASC 280"), we identify our operating segments according to how our business activities are managed and evaluated. ASC 280 establishes standards for companies to report financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company's chief operating decision maker ("CODM"), or group, in deciding how to allocate resources and assess performance.

The CODM has been identified as the Chief Executive Officer, who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating and reportable segment.

The key measures of segment profit or loss reviewed by our CODM are consolidated net income or loss. These metrics are reviewed and monitored by the CODM to manage and forecast cash. The CODM also reviews operating costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements and budget.

***Recently Issued and Adopted Accounting Pronouncements***

In November 2023, the FASB issued Accounting Standards Update ("ASU") 2023-07 *Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures*. The new guidance requires enhanced disclosure of significant expenses that are regularly reported to the chief operating decision maker and the nature of segment expense information used to manage operations. The new guidance is effective for all public companies for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-07 on January 1, 2025.

Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying unaudited condensed financial statements. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.

**NOTE 4 – LOAN RECEIVABLE**

In November 2024, the Company loaned $170,000 to a third party. The loan is unsecured, payable on demand and bears interest at a rate of 6.5% per annum commencing December 24, 2024.

In December 2024, the Company loaned an additional $1,300,000 to the same third party. The loan is unsecured, due on February 20, 2025, and bore interest at a rate of 8% per annum commencing January 4, 2025. In January 2025, the parties amended the agreement for the loan to be payable on demand and an interest rate of 6.5% per annum.

During the six months ended March 31, 2025, the Company recognized interest income of $17,351 on the respective loans.

During the six months ended March 31, 2025, the Company received repayments totaling $662,275. As of March 31, 2025 and September 30, 2024, the outstanding loan receivable balance was $807,725 and $0, respectively.

**NOTE 5 – FAIR VALUE MEASUREMENTS**

The Company's financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value Measurements<br> as of March 31, 2025 Using:** | **Fair Value Measurements<br> as of March 31, 2025 Using:** | **Fair Value Measurements<br> as of March 31, 2025 Using:** | **Fair Value Measurements<br> as of March 31, 2025 Using:** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities: | $<u>-</u> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $25000 | $25000 |
| Future equity obligations | $- | $- | $25000 | $25000 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value Measurements<br> as of September 30, 2024 Using:** | **Fair Value Measurements<br> as of September 30, 2024 Using:** | **Fair Value Measurements<br> as of September 30, 2024 Using:** | **Fair Value Measurements<br> as of September 30, 2024 Using:** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities: | $<u>-</u> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $25000 | $25000 |
| Future equity obligations | $- | $- | $25000 | $25000 |

---

The Company measures the simple agreements for future equity at fair value based on significant inputs not observable in the market, which causes it to be classified as a Level 3 measurement within the fair value hierarchy. The valuation of the future equity obligations uses assumptions and estimates the Company believes would be made by a market participant in making the same valuation. The Company assesses these assumptions and estimates on an on-going basis as additional data impacting the assumptions and estimates are obtained. Changes in the fair value of the simple agreements for future equity related to updated assumptions and estimates are recognized within the statements of operations.

The simple agreements for future equity may change significantly as additional data is obtained, impacting the Company's assumptions regarding probabilities of outcomes used to estimate the fair value of the liability. In evaluating this information, considerable judgment is required to interpret the data used to develop the assumptions and estimates. The estimates of fair value may not be indicative of the amounts that could be realized in a current market exchange. Accordingly, the use of different market assumptions and/or different valuation techniques may have a material effect on the estimated fair value amounts, and such changes could materially impact the Company's results of operations in future periods.

The Company utilized a probability-weighted average approach based on the estimated market value of the underlying securities and the potential settlement outcomes of the simple agreements for future equity, including a liquidity event or future equity financing as well as other settlement alternatives. Both the market value of the underlying securities and the probability of the settlement outcomes include unobservable Level 3 inputs.

As of March 31, 2025 and September 30, 2024, the Company assumed an 50% probability of a liquidity event as the primary ultimate settlement outcome of the future equity obligations. Based on the Company's estimates regarding the probability of the triggering events and the Company's valuation, management determined the fair value of the SAFEs were representative of the face value as of March 31, 2025 and September 30, 2024.

For the months ended March 31, 2025, there was no change in the fair value of the SAFEs.

**NOTE 6 – INTANGIBLE ASSETS, NET**

As of March 31, 2025 and September 30, 2024, intangible assets, net consisted of:

---

| | | |
|:---|:---|:---|
|  | **March 31,**<br>**2025** | **September 30,**<br>**2024** |
| Software development - property management system | $160000 | $160000 |
| Internally developed application | 19500 |  |
| Less: Accumulated amortization | (35556) | (8889) |
| Intangible assets, net | $143944 | $151111 |

---

Amortization expense for the six months ended March 31, 2025 and 2024, were $26,667 and $0, respectively, which is included in costs of revenue in the unaudited condensed consolidated statements of operations.

**NOTE 7 – DEBT**

*Revolving Line of Credit*

 

On March 14, 2024, the Company entered into a revolving line of credit agreement with East West Bank for a principal amount of up to $2,000,000. The loan matures on March 14, 2026, is secured by an assignment of a deposit account held by Collab CA's sole member, YRQ Irrevocable Trust, and is intended exclusively for business operations. The loan has a variable interest rate based on the interest rate of the collateral's certificate of deposit plus 1.5%. The initial rate is set at 5.905%. The loan request monthly interest payments, and full repayment of principal and accrued interest due at maturity.

During the six months ended March 31, 2025, the Company borrowed an aggregate of $1,300,000, which was used to provide a loan to a third party (see Note 4). On February 4, 2025, the Company paid off the line of credit with the funds from the collection of the Company's due from related parties and receivables.

*Future Equity Obligations*

In April 2023, the Company entered into a SAFE agreement for proceeds of $25,000. The SAFE has a valuation cap of $50,000,000 and a discount of 25%, which will be applied to the valuation of the Company at the time of the triggering event in order to calculate the price per share for the investor.

The SAFE will convert into equity upon the occurrence of a future qualified financing round of at least $10,000,000 or another triggering event, including the event of a merger, acquisition or initial public offering ("IPO").

As of March 31, 2025 and September 30, 2024, the fair value of SAFEs was $25,000 and $25,000, respectively. See Note 5 for fair value disclosures.

**NOTE 8 – STOCKHOLDERS' EQUITY**

The total number of shares of stock which the Company is authorized to issue is 200,000,000 shares, consisting of 190,000,000 shares of common stock, $0.001 par value per share, and 10,000,000 shares of preferred stock, $0.001 par value per share. Of the 10,000,000 authorized shares of preferred stock, 5,000 shares were designated as Series X preferred stock.

In October 2024, the Company issued 5,000 shares of Series X preferred stock to Collab CA's sole member. In December 2024, pursuant to the Reorganization Agreement, the member of Collab CA exchanged 100% of its membership interests for 4,550,500 shares of the Company's common stock. Both the issuance of Series X preferred stock and the issuance of common shares pursuant to the share exchange were conducted with YRQ Irrevocable Trust ("YRQ"), Collab CA's sole member. These series of transactions are considered together as part of the Reorganization.

*Preferred Stock*

 

Each share of Series X preferred stock is entitled to 1,000 votes. The holders of shares of Series X preferred stock are entitled to vote on all matters on which the Company's common stock shall be entitled to vote.

The holders of the Series X preferred stock are not entitled to dividends.

The holders of the Series X preferred stock shall not be entitled to any liquidation preference and the shares are not subject to redemption. Upon the event of liquidation, dissolution or winding up of the Company, voluntary or involuntary, the holders of Series X preferred stock would be entitled to receive the initial stated value of the Company's preferred stock.

The holders of the shares of Series X preferred stock shall not have any rights to convert such shares into, or exchange such shares for, shares of any other series or class of capital stock of the Company.

*Common Stock*

 

Each share of common stock entitles its holder to one vote per share on all matters to be voted or consented upon by the stockholders. Holders of our common stock are not entitled to cumulative voting rights with respect to the election of directors.

Holders of common stock are entitled to receive ratably such dividends or other distributions, if any, as may be declared by the Board out of funds legally available.

In the event of the liquidation, dissolution or winding up of our business, the holders of common stock are entitled to share ratably in the assets available for distribution after the payment of all of debts and other liabilities, subject to the prior rights of the holders of the Company's preferred stock.

 

*Collab CA Equity Transactions*

 

During the six months ended March 31, 2025, the Company's related party made contributions of $16,000, all consisting of non-cash in-kind services. During the six months ended March 31, 2024, the Company's sole member made contributions of $75,000, including cash contribution of $63,000 and in-kind services of $12,000. During the six months ended March 31, 2024, the Company had $144,647 in distributions, all consisting of cash.

The additions and contributions of Collab CA have been reflected in additional-paid in capital.

*Collab Z Equity Transactions*

In September 2024, the Company issued 540,891 shares to employees and consultants for services performed. The Company determined a fair value per share of $0.26 using a market-based approach whereby management identified public market comparable companies and applied a revenue multiple based on the average observed. Management then applied a discount for lack of marketability and minority interest. The total fair value was $140,632.

The assumptions in estimating the fair value of common stock include the identification of comparable companies, and appropriate discounts based on the facts and circumstances. These estimates are highly subjective. Management

will be required to estimate fair value, until such point in time that the Company had observable transactions or its shares are become quoted on an exchange.

In March 2025, the Company acquired a 40% interest in a joint venture through the issue of 10,000 shares for a total consideration of $20,000, representing the fair value of the investment at the acquisition date of $2.00 per share. In the event that the Company fails to consummate an initial public offering of its securities (the "Collab IPO") on or prior to December 31, 2026 (the "Collab IPO Deadline"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The joint venture partner
 shall have the option to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Surrender all securities
 of the Company purchased pursuant to an equity sale; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Receive in exchange for
 such surrendered securities Collab's member interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Company shall pay the
 joint venture partner an amount equal to the total capital contributions made by the joint venture partner as of the option exercise
 date minus the total distributions received by the joint venture partner as of the option exercise date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company shall have
 the option to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Surrender all its member's
 interests; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Receive in exchange for
 such surrendered interests the securities of its member purchased pursuant to an equity sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Company shall pay the
 joint venture partner an amount equal to the total capital contributions made by the joint venture partner as of the option exercise
 date minus the total distributions received by the joint venture partner as of the option exercise date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event that both
 the joint venture and the Company elect to exercise their respective options concurrently, the Company's right to exercise
 shall take precedence.

The shares issued pursuant to the Joint Venture Agreement were determined to contain certain redemption rights and subject to the occurrence of uncertain future events (the Collab IPO) pursuant to ASC 480, and therefore the value of $20,000 was included within temporary equity on the consolidated balance sheet.

**NOTE 9 – STOCK-BASED COMPENSATION** 

***Collab Z Inc. 2025 Equity Incentive Plan***

The 2025 Equity Incentive Plan (the "2025 Plan") permits the grant of awards, which provides for the grant of shares of stock options to employees, non-employee directors, and non-employee consultants. The number of shares authorized by the 2025 Plan was 763,708 shares as of March 31, 2025. The option exercise price generally may not be less than the underlying stock's fair market value at the date of the grant and generally have a term of ten years. The amounts granted each calendar year to an employee or non-employee is limited depending on the type of award. As of March 31, 2025, there were 273,208 shares available for grant under the 2025 Plan. Stock options granted under the 2025 Plan typically vest over a four-year period, with a one-year cliff as well as via specified milestones.

A summary of information related to stock options for the six months ended March 31, 2025 ais as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Options** | **Weighted<br> Average<br> Exercise<br> Price** | **Intrinsic<br> Value** |
| Outstanding as of September 30, 2024 |  | $- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Granted | 490500 | 2.00 |  |
| Exercised |  |  |  |
| Forfeited | - |  |  |
| Outstanding as of March 31, 2025 | 490500 | $2.00 | $- |
| Exercisable as of March 31, 2025 |  | $- | $- |
| Exercisable and expected to vest at of March 31, 2025 |  | $- | $- |

---

As of March 31, 2025, the weighted average duration to expiration of outstanding options was 9.95 years.

No stock-based compensation expense for stock options was recognized for the six months ended March 31, 2025 and 2024, respectively, due to the granted options containing vesting conditions that are contingent upon a IPO. Total unrecognized compensation cost related to non-vested stock option awards amounted to approximately $531,626 as of March 31, 2025, which will be recognized over a weighted average period of 2.91 years once the contingent vesting condition is met.

The stock options were valued using the Black-Scholes pricing model using the range of inputs as indicated below:

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2025** | **2024** |
| Risk-free interest rate | 4.09% - 4.15 | n/a |
| Expected term (in years) | 5.50-6.08 | n/a |
| Expected volatility | 53.1% | n/a |
| Expected dividend yield | 0% | n/a |

---

The weighted average grant date fair value of options granted during six months ended March 31, 2025 was $1.08.

**NOTE 10 – RELATED PARTY TRANSACTIONS** 

 

*Revenue and Accounts Receivable*

 

During the six months ended March 31, 2025 and 2024, the Company earned revenues of $525,636 and $413,749, respectively, from related parties. As of March 31, 2025 and September 30, 2024, the Company had accounts receivable of $532,194 and $349,576, respectively, with related parties.

 

These related parties are primarily properties for which the Company provides various real estate services, including property management, construction and development management, and renovation services. To date, the Company has also provided or received certain advances from these properties outside the normal revenue generating services, as noted below.

 

*Due From / To Related Parties*

Due from related parties includes a) cash advances made and b) expenses and other costs paid for on behalf of related parties. Due to related parties includes cash advances received from various related parties. The Company enters into these transactions based on the current working capital needs of the Company and these related entities. These advances are unsecured, due on demand and non-interest bearing.

The following is a summary of due from / to related parties:

---

| | | |
|:---|:---|:---|
|  | **March 31,**<br>**2025** | **September 30,**<br>**2024** |
| Customer properties with common control and management\* | $64778 | $139416 |
| Entities with common control and management\* | 427056 | 157767 |
| YRQ Irrevocable Trust | - | 2259850 |
| &nbsp;&nbsp;&nbsp;Due from related parties | $491834 | $2557033 |
| Customer properties with common control and management\* | $673083 | $1174916 |
| Family member of former Chairman | - | 130000 |
| &nbsp;&nbsp;&nbsp;Due to related parties | $673083 | $1304916 |

---

\* The Company or its subsidiaries have no ownership in the customer properties or related party entities as per the amounts above. To date, Collab CA has shared common control and management with these entities.

*YRQ Irrevocable Trust*

During the six months ended March 31, 2025, the Company advanced $64,970 to YRQ Irrevocable Trust ("YRQ") in order to provide working capital to the Company's related entities, and YRQ repaid $2,324,820 to the Company. These advances are unsecured, due on demand and non-interest bearing.

As of March 31, 2025, YRQ has paid the advance all in full and there was no balance outstanding.

In 2024, YRQ, as part of a control group that maintained control over Collab CA, became the sole member of Collab CA on August 21, 2024. Upon the Reorganization, YRQ received 4,550,500 shares of the Company's common stock and 5,000 shares of the Company's Series X preferred stock.

**NOTE 11 – COMMITMENTS AND CONTINGENCIES**

 

***Minimum Rental Guarantee***

 

The Company has a minimum rental guarantee for certain related party managed properties whereby the Company will pay the difference between the collected rent and the minimum rent guarantee. These guarantees require the Company to ensure a specified minimum gross revenue each month. Should the properties' gross revenues fall below these thresholds, the Company is required to compensate for the shortfall. The maximum potential amount of future payments under these guarantees is estimated based on historical occupancy rates and market trends to project potential future shortfalls. The minimum rent guarantee thresholds are calculated annually based on the local market occupancy rates and prevailing market rental rates. The minimum rent guarantee terms are stipulated to last for the duration of the property management agreements unless terminated by either party or amended by mutual agreement. These agreements can be terminated by either party by providing 30 days' notice.

As of the issuance date of these unaudited condensed consolidated financial statements, the maximum potential rental guarantees were approximately $102,000 per month. Since entering into these terms, the Company has achieved occupancy rates at all properties at or above market rental rates. As such, there have been no shortfall payments incurred by Collab to date.

***Contingencies***

The Company may be subject to pending legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome, if any, arising out of any such matters will have a material adverse effect on its business, financial condition or results of operations.

In May 2025, the Company settled a legal matter with a former consultant pursuant to potential severance in the event of termination without cause in connection with the at-will consultancy agreement, which was terminated in September 2023. The parties reached a mutual agreement to settle the matter for a total of $80,000 on May 14, 2025. The amount was included within accounts payable and accrued expenses on the consolidated balance sheet as of March 31, 2025.

**NOTE 12 – SUBSEQUENT EVENTS**

In April 2025, the Company issued an aggregate of 50,000 shares of common stock pursuant to four Joint Venture Agreements.

In May 2025, the Company issued 97,475 options to purchase common stock at an exercise price of $2.50 per share.

In May 2025, the Company issued 75,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $300,000. The Company is authorized to issue up to 1,250,000 shares of Series B Preferred Stock with a stated value of $4.00 per share pursuant to its Certificate of Designation filed with the Secretary of State of Nevada. Shares of Series B Preferred Stock are automatically convertible into common stock at 70% of a qualified offering price.

See Note 11 for settlement of legal matter.

**FINANCIAL STATEMENTS**

**COLLAB Z INC.**

**CONSOLIDATED FINANCIAL STATEMENTS**

**AS OF AND FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023**

**COLLAB Z INC.**

**INDEX TO CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

---

| | |
|:---|:---|
|  | **Pages** |
| [Report of Independent Registered Public Accounting Firm (PCAOB ID #3501)](#c_001) | F-22 |
| [Consolidated Balance Sheets as of September 30, 2024 and 2023](#c_002) | F-23 |
| [Consolidated Statements of Operations for the years ended September 30, 2024 and 2023](#c_003) | F-24 |
| [Consolidated Statements of Stockholders' Equity for the years ended September 30, 2024 and 2023](#c_004) | F-25 |
| [Consolidated Statements of Cash Flows for the years ended September 30, 2024 and 2023](#c_005) | F-26 |
| [Notes to the Consolidated Financial Statements](#c_006) | F-27 |

---

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To the Board of Directors and

Stockholders of Collab Z, Inc.

**Opinion on the Financial Statements** 

We have audited the accompanying consolidated balance sheets of Collab Z, Inc. and subsidiaries (collectively the "Company") as of September 30, 2024, and 2023, the related consolidated statements of operations, stockholders' equity, and cash flows for the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of September 30, 2024 and 2023, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform an audit of internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ dbb*mckennon*

Newport Beach, California

January 21, 2025

We have served as the Company's auditor since 2024.

**COLLAB Z INC.**

**CONSOLIDATED BALANCE SHEETS**

**SEPTEMBER 30, 2024 AND 2023**

---

| | | |
|:---|:---|:---|
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash | $105034 | $15913 |
| &nbsp;&nbsp;&nbsp;Accounts receivable - related parties | 349576 | 631904 |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 160000 |  |
| &nbsp;&nbsp;&nbsp;Due from related parties | 2557033 | 97356 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 34264 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 3205907 | 745173 |
| Intangible assets, net | 151111 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $3357018 | $745173 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | $161136 | $95221 |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 40000 | 60000 |
| &nbsp;&nbsp;&nbsp;Due to related parties | 1304916 | 224116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1506052 | 379337 |
| Line of credit | 642854 |  |
| Future equity obligations | 25000 | 25000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 2173906 | 404337 |
| Commitments and contingencies (Note 9) |  |  |
| Stockholders' equity: |  |  |
| Preferred stock, $0.001 par value, 10,000,000 shares authorized, 5,000 designated as Series X; 5,000 shares issued and outstanding as of both September 30, 2024 and 2023 | 5 | 5 |
| Common stock, $0.001 par value, 190,000,000 shares authorized, 5,091,391 and 4,550,500 shares issued and outstanding as of both September 30, 2024 and 2023 | 5092 | 4551 |
| Additional paid-in capital | 308713 | 417398 |
| Retained earnings (accumulated deficit) | 869302 | (81118) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1183112 | 340836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $3357018 | $745173 |

---

See accompanying notes to these financial statements.

**COLLAB Z INC.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

**FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023**

---

| | | |
|:---|:---|:---|
|  | **Year Ended<br> September 30,** | **Year Ended<br> September 30,** |
|  | **2024** | **2023** |
| Revenue - related parties | $1163585 | $633847 |
| Revenue | 690000 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 1853585 | 633847 |
| Cost of revenue | 219283 | 202072 |
| Gross profit | 1634302 | 431775 |
| Operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 47874 | 55451 |
| &nbsp;&nbsp;&nbsp;General and administrative | 622401 | 281416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 670275 | 336867 |
| Income from operations | 964027 | 94908 |
| Other expense: |  |  |
| &nbsp;&nbsp;&nbsp;Interest expense | (13607) | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense | (13607) | (80) |
| Provision for income taxes | - | - |
| Net income | $950420 | $94828 |
| Weighted average common shares outstanding - basic and diluted | 4571247 | 4550500 |
| Net income per common share - basic and diluted | $0.21 | $0.02 |

---

See accompanying notes to these financial statements.

**COLLAB Z INC.**

**CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY**

**FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Preferred Stock** | **Preferred Stock** | **Common Stock** | **Common Stock** | | | |
|  | **Shares** | **Amount** | **Shares** | **Amount** | **Additional**<br>**Paid-in**<br>**Capital** | **Retained Earnings /**<br>**(Accumulated**<br>**Deficit)** | **Total**<br>**Stockholders'**<br>**Equity** |
| **Balances at September 30, 2022** | 5000 | $5 | 4550500 | $4551 | $208715 | $(175946) | $37325 |
| Contributions |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |  |  | 516000 |  | 516000 |
| Distributions |  |  |  |  | (307317) |  | (307317) |
| Net income | - | - | - | - | - | 94828 | 94828 |
| **Balances at September 30, 2023** | 5000 | 5 | 4550500 | 4551 | 417398 | (81118) | 340836 |
| Shares issued for services |  |  | 540891 | 541 | 140091 |  | 140632 |
| Contributions |  |  |  |  | 192435 |  | 192435 |
| Distributions |  |  |  |  | (441211) |  | (441211) |
| Net income | - | - | - | - | - | 950420 | 950420 |
| **Balances at September 30, 2024** | 5000 | $5 | 5091391 | $5092 | $308713 | $869302 | $1183112 |

---

See accompanying notes to these financial statements.

**COLLAB Z INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023**

---

| | | |
|:---|:---|:---|
|  | **Year Ended** | **Year Ended** |
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| **Cash flows from operating activities:** |  |  |
| Net income | $950420 | $94828 |
| Adjustments to reconcile net income to net cash used in operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Amortization | 8889 |  |
| &nbsp;&nbsp;&nbsp;Shares issued for services | 140632 |  |
| &nbsp;&nbsp;&nbsp;Non-cash equity contributions | 24000 | 50000 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable - related parties | 282328 | (520209) |
| &nbsp;&nbsp;&nbsp;Accounts receivable | (160000) |  |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | (34264) | 932 |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | 65915 | (98724) |
| &nbsp;&nbsp;&nbsp;Deferred revenue | (20000) | 60000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 1257920 | (413173) |
| **Cash flows from investing activities:** |  |  |
| Due from related parties, net of repayment | (2459677) | 618783 |
| Capitalized software development | (160000) | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | (2619677) | 618783 |
| **Cash flows from financing activities:** |  |  |
| Due to related parties, net of repayment | 1080800 | (163039) |
| Proceeds from line of credit | 2442854 |  |
| Repayments of line of credit | (1800000) |  |
| Proceeds from SAFE |  | 25000 |
| Contributions | 168435 | 52000 |
| Distributions | (441211) | (121652) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | 1450878 | (207691) |
| **Net change in cash** | 89121 | (2081) |
| Cash at beginning of year | 15913 | 17994 |
| Cash at end of year | $105034 | $15913 |
| **Supplemental disclosure of cash flow information:** |  |  |
| Cash paid for income taxes | $- | $- |
| Cash paid for interest | $13624 | $- |
| **Supplemental disclosure of non-cash investing and financing activities:** |  |  |
| Conversion of related party loans into equity | $- | $414000 |
| Distributions as settlement of accounts receivable - related parties | $- | $185665 |

---

See accompanying notes to these financial statements.

**COLLAB Z INC.** 

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

**NOTE 1 – NATURE OF OPERATIONS**

Collab Z Inc. (the "Company") was formed on May 11, 2024 in the State of Nevada for the purpose of reorganizing and becoming the holding company for Collab CA LLC (Collab CA"), a California limited liability company.

In December 2024, Collab CA became a direct, wholly owned subsidiary of the Company as a result of the closing of the Reorganization Agreement and Plan of Share Exchange dated December 30, 2024 (the "Reorganization Agreement" or "Reorganization"). Pursuant to the Reorganization Agreement, the sole member of Collab CA exchanged 100% of its member interests for 4,550,500 shares of the Company's common stock. As a result, the member of Collab CA became a shareholder of the Company and Collab CA became a direct, wholly owned subsidiary of the Company.

The Reorganization is being accounted for as a reorganization of entities under common control by a control group. The accompanying financial statements have been presented to retroactively present the effect of the Reorganization. See Note 3 for further detail.

Collab CA is the main operating subsidiary engaged in various real estate services, including property management, construction and renovation management, as well EB-5 immigration investor services. Collab Z Inc., and its subsidiary, Collab CA, are at the forefront of the PropTech industry. The Company aims to transform property

management by integrating community involvement and artificial intelligence to directly connect tenants with management tasks, eliminating intermediaries and enhancing efficiency.

The Company's headquarters are located in Berkeley, California.

**NOTE 2 – GOING CONCERN**

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company had $105,034 in cash as of September 30, 2024, and $2,906,609 in amounts due from related parties. The Company is heavily reliant on related parties as its primary revenue and cash flow sources and has historically generated revenues from sources that may not be recurring.

The Company is early-stage, and expects to incur significant costs to expand its operations and conduct its business plan, which may result in future losses if it cannot effectively market its products and achieve market acceptance.

*Management's Plans* 

Management believes substantial doubt has been alleviated based on the following:

The net due to and from related parties balances at September 30, 2024, which are expected to be fully collected and paid, provide for a net positive effect to cash of approximately $1.2 million. These funds are expected to provide the Company with operating capital sufficient to cover basic operations. In addition, the Company is seeking to raise capital via an equity offering. In the event the Company does not complete an offering, the Company expects to seek additional funding through private equity, debt and/or related party financings or use its existing line of credit to provide additional operating capital. The Company may not be able to obtain financing on acceptable terms, or at all.

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

**NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

***Basis of Presentation***

The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The financial statements included herein comprise the consolidated results of the Company and its subsidiaries and all intercompany transactions have been eliminated.

The consolidated financial statements represent a) the historical operations of Collab CA, which was formed on November 25, 2019, b) the historical operations of Collab Living LLC ("Collab Living"), a Delaware limited liability company formed on May 15, 2023, c) the initial capital structure of Collab Z, which was completed upon the Reorganization (see Note 1), and d) the results of Collab Z, which solely consisted of the issuance of shares (see Note 7).

In accordance with ASC 805-50-15-6, the Company determined that the share exchange was a reorganization of entities under common control. Collab Z and Collab CA maintained common control for the entire period for which the financial statements are presented through the Reorganization. The Company concluded that the entities were under common control via common ownership and common management. Specifically, the founder and former managing member of Collab CA is the founder and former Chairman of the Company and along with the YRQ Trust

for which the trustees and beneficiaries are immediate family members, make up a control group that held voting and management control of Collab CA and the Company prior to and after the Reorganization

Therefore, in accordance with ASC 250-10-45 and ASC 805-50-45, the financial statements require retrospective consolidation of the entities for all periods presented. The financial statements for the years ended September 30, 2024 and 2023 are prepared on a consolidated basis which includes Collab CA and Collab Living.

***Principles of Consolidation***

 

The Company evaluates its relationships with other entities to identify whether they are variable interest entities ("VIE") as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810, Consolidation ("ASC 810"), and to assess whether it is the primary beneficiary of such entities. If the determination is made that the Company is the primary beneficiary, then that entity is consolidated. The Company evaluated whether it was the primary beneficiary with its various related party entities it transacts with, and determined it is not the primary beneficiary of any entities.

Collab Living is 50% owned by Collab CA, and it was determined that Collab CA was the primary beneficiary in 2023 and 2024. Per ASC 810-10-50, the Company concluded that Collab CA was the primary beneficiary via its obligation to absorb losses (i.e. non-substantive voting rights) and its power to direct activities that most significantly impact Collab Living's economic performance. Historically, Collab CA has funded the operations of Collab Living and Collab CA's management has directed all Living's activities.

In accordance with ASC 810-10-45-25, Collab Living's results are consolidated within the Company's financial statements.

The separate assets, liabilities and results of operations of Collab Living are immaterial. Furthermore, the balance of non-controlling interests was nominal as of September 30, 2024 and 2023.

***Use of Estimates***

The preparation of the Company's consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the 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. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, revenue recognition and valuation of common stock. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.

 **

***Significant Risks and Uncertainties***

 **

The Company is subject to customary risks and uncertainties including, but not limited to, the need for protection of proprietary technology, dependence on key personnel, costs of services provided by third parties and limited operating history with third parties.

 ****

***Cash and Cash Equivalents***

The Company considers all highly liquid operating instruments with an original maturity of three months or less to be cash equivalents.

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

***Concentration of Credit Risk***

The Company's cash and cash equivalents are held at major financial institutions. There is a concentration of credit risk related to certain account balances in excess of the Federal Deposit Insurance Corporation insurance limit of $250,000 per account. The Company regularly monitors the financial stability of these financial institutions. At times the Company may hold amounts in excess of insured amounts.

***Fair Value Measurements***

 

Certain assets and liabilities of the Company are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

● Level 1—Quoted prices in active markets for identical assets or liabilities.

● Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

● Level 3—Unobservable inputs that are supported by little or no market activity that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The carrying values of the Company's assets and liabilities approximate their fair values. See Note 4 for fair value measurement disclosures.

***Related Parties***

Related parties are any entities or individuals that, through employment, ownership or other means, possess the ability to direct or cause the direction of the management and policies of the Company. The Company discloses related party transactions that are outside of normal compensatory agreements, such as salaries. The Company follows ASC 850, *Related Party Disclosures*, for the identification of related parties and disclosure of related party transactions.

***Accounts Receivable***

The Company has accounts receivable with both related and third-party customers. Accounts receivable is recorded at the invoiced amount or earned fees pursuant to the agreement, are non-interest bearing and are stated at the historical carrying amount net of write-offs and allowances for uncollectible accounts. The Company establishes an allowance for uncollectible accounts based on historical experience and any specific customer collection issues that the Company has identified. There was no allowance for uncollectible accounts at September 30, 2024 and 2023.

***Capitalized Software Development***

 

The Company capitalizes certain costs related to the development of its property management system pursuant to ASC 350-40. Costs incurred during the development phase are capitalized only when it is deemed probable that the development will result in new or additional functionality. The Company determined that its customization efforts to existing software significantly enhanced functionality, involved substantial development effort and integrated with existing systems. As such, the Company capitalized these costs during the development phase. Costs associated with

the preliminary project planning phase and the post-implementation phase are expensed as incurred. The capitalized development costs are amortized on a straight-line basis over the estimated useful life of the asset.

The system, which is expected to be the backbone of the Company's property management service, was developed between November 2023 and August 2024, at which point it was ready for use. The Company began amortizing the costs over a three-year period starting in August 2024. See Note 5.

 ****

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

 ****

***Impairment of Long-Lived Assets***

The Company reviews its long-lived assets for impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the expected cash flows, undiscounted, is less than the carrying amount of the asset, an impairment loss is recognized as the amount by which the carrying amount of the asset exceeds its fair value. There were no impairments deemed necessary during the periods presented.

 ****

***Revenue Recognition***

The Company recognizes revenue from services in accordance with FASB ASC Topic 606, *Revenue from Contracts with Customers* ("ASC 606"). Under ASC 606, the Company recognizes revenue when or as the Company's performance obligations are satisfied by transferring control of the promised services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps as prescribed by ASC 606:

&nbsp;&nbsp;&nbsp;&nbsp;(i) identify the contract(s)
 with a customer;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) identify the performance
 obligations in the contract;

&nbsp;&nbsp;&nbsp;&nbsp;(iii) determine the transaction
 price;

&nbsp;&nbsp;&nbsp;&nbsp;(iv) allocate the transaction
 price to the performance obligations in the contract; and

&nbsp;&nbsp;&nbsp;&nbsp;(v) recognize revenue when
 (or as) the entity satisfies performance obligations.

The Company only applies the five-step model to contracts when it is probable that it will collect substantially all the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determine those that are performance obligations and assess whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The Company has applied ASC 606 on a portfolio basis. The Company has elected the practical expedients, allowing the recognition of incremental costs of obtaining a contract as an expense when incurred, and not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less.

The Company generates revenue through the following streams:

*Property Management*

 

The Company provides property management services for rental properties that include various elements based on the underlying contractual agreement. The Company earns a fixed percentage of monthly lease income. This revenue is recognized on an ongoing, monthly basis. The Company earns additional fees based on a fixed percentage of property-related expenses such as repairs and maintenance at the time the underlying costs are incurred. The Company, at times, is also eligible to earn commissions on the first month of a new lease agreement. Certain managed properties include a profit share arrangement based on guaranteed rental income whereby the Company shares in the excess rental income over the guaranteed amounts. No losses have been incurred based on these guarantees. The Company recognizes this revenue at the point in time the excess rental income is known.

*Development and Construction Management*

 

The Company provides services consisting of the oversight of property development and construction projects, including budget monitoring and timeline management. Development fees are recognized on an ongoing monthly basis through the completion of the service period.

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

*Procurement*

 

The Company facilitates procurement of materials and supplies for construction projects as well as provides related services for design of procured goods. Procurement fees related to ordered goods are recognized at a point in time upon the completion of the procurement service, which is shipment of the related materials. Revenue for design services are recognized at point in time when the related services are complete.

*Renovation Management*

 

Renovation management services include assisting in the acquisition, renovation, and disposition of properties. Renovation fees are recognized on an ongoing, monthly basis through the completion of the service period, which is based on the time elapsed of the renovation project. The Company also earns renovation service fees, which are recognized over time as the project progresses based on the actual costs incurred of the underlying renovation project. Acquisition fees are recognized at a point in time after the acquisition of the property.

*EB-5 Immigration Investor Services*

The Company identifies EB-5 immigration investment projects and assists investors with project identification, assistance and support during the project application process. Fees are recognized at a point in time upon the fulfillment of the EB-5 service obligations, which is when the EB-5 application package has been submitted. Payments are billed in two tranches, and any deferred revenue is recognized once performance obligations are met.

Each revenue source above is a different type of service being performed, and distinct from the other performance obligations.

*Disaggregation of Revenue*

A disaggregation of revenue for the years ended September 30, 2024 and 2023 is as follows:

---

| | | |
|:---|:---|:---|
|  | **Year Ended** | **Year Ended** |
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| Property management | $579083 | $474409 |
| Development and construction management | 94500 | 107500 |
| Procurement | 237188 | 22500 |
| Renovation management | 252814 | 29438 |
| &nbsp;&nbsp;&nbsp;Revenue - related parties | 1163585 | 633847 |
| EB-5 immigrant investor services | 690000 | - |
| &nbsp;&nbsp;&nbsp;Revenue | 690000 | - |
| &nbsp;&nbsp;&nbsp;Total revenue | $1853585 | $633847 |

---

Deferred revenue primarily represents customer billings on EB-5 contracts for services not yet rendered or procurement services where shipment of goods has not occurred. EB-5 services generally require several months between the time of agreement with the customer and the completion of performance obligations. As of September 30, 2024, and 2023, the Company has deferred revenue of $40,000 and $60,000, respectively.

The following table summarizes the deferred revenue balance as of September 30, 2024 and 2023:

---

| | | |
|:---|:---|:---|
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| Balance, beginning | $60000 | $- |
| New service contracts | 670000 | 60000 |
| Revenue recognized | (690000) | - |
| Balance, ending | $40000 | $60000 |

---

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

***Cost of Revenue***

 ****

Cost of revenue includes operations personnel supporting the Company's real estate services, specifically those personnel who work directly on property management as well as development, construction, renovation and EB-5 projects. Cost of revenue also includes software costs incurred to maintain the Company's property management system, as well as amortization of capitalized software costs.

 ****

***Sales And Marketing***

Sales and marketing include advertising and marketing costs, which are expensed as incurred, as well as business development personnel. Advertising costs were $7,859 and $8,707 for the years ended September 30, 2024 and 2023, respectively.

***General and Administrative Expenses***

 

Selling, general and administrative expenses consist primarily of compensation and personnel costs, professional services and information technology.

***Concentrations***

 

During the years ended September 30, 2024 and 2023, 63% and 100% of the Company's revenues were with related party properties under common control and management. During the year ended September 30, 2024, one related party property accounted for 21% of the Company's total revenues. During the year ended September 30, 2023, four related party properties accounted for 72% of the Company's total revenues.

As of September 30, 2024 and 2023, 69% and 100% of the Company's accounts receivable were with related party properties under common control and management. As of September 30, 2024, four related party properties accounted for 63% of the Company's total receivables, and EB-5 customers accounted for 31% of total receivables. As of September 30, 2023, three related party properties accounted for 75% of the Company's total receivables.

To date the Company has been highly dependent on related party customers as its primary source of revenue and cash flows from operations. The Company may be negatively affected by the loss of one of these customers, or a change in the related party relationship.

 

***Future Equity Obligations***

The Company has issued Simple Agreements for Future Equity ("SAFEs") in exchange for cash financing. These amounts are classified as future equity obligations, which are long-term liabilities on the consolidated balance sheets. The Company has accounted for its SAFE investments as liability derivatives for which the Company will record changes to fair value through earnings.

***Stock-Based Compensation***

The Company accounts for stock-based compensation in accordance with ASC 718, *Compensation – Stock Compensation*. The Company measures all stock-based awards granted to employees, directors and non-employee consultants based on the fair value on the date of the grant and recognizes compensation expense for those awards over the requisite service period, which is generally the vesting period of the respective award. For awards with service-based vesting conditions, the Company records the expense for using the straight-line method. For awards with performance-based vesting conditions, the Company records the expense if and when the Company concludes that it is probable that the performance condition will be achieved.

The Company classifies stock-based compensation expense in its statement of operations in the same manner in which the award recipient's costs are classified.

The assumptions used in calculating the fair value of stock-based awards represent management's best estimates and involve inherent uncertainties and the application of management's judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards.

 ****

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

 ****

***Net Income per Share***

 

Net earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period, excluding shares subject to redemption or forfeiture. The Company presents basic and diluted net earnings or loss per share. Diluted net earnings or loss per share reflect the actual weighted average of common shares issued and outstanding during the period, adjusted for potentially dilutive securities outstanding. Potentially dilutive securities are excluded from the computation of the diluted net loss per share if their inclusion would be anti-dilutive. As of September 30, 2024 and 2023, there were an indeterminable number of shares that were

potentially dilutive based on the Company's outstanding future equity obligations for which conversion is contingent on an a future event (see Note 7).

 

***Income Taxes***

 ****

Prior to the reorganization as described in Note 1, the Company' historical operations were contained within a limited liability company. Accordingly, under the Internal Revenue Code, all taxable income or loss flowed through to its members. Therefore, no provision for income tax had been recorded in the accompanying financial statements for the years ended September 30, 2024 or 2023. Income from the Company was reported and taxed to the members on their individual tax returns.

Upon reorganization to a corporation, the Company uses the liability method of accounting for income taxes as set forth in ASC 740, Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities using tax rates expected to be in effect during the years in which the basis differences reverse. A valuation allowance is recorded when it is unlikely that the deferred tax assets will not be realized. We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances, and information available at the reporting date. In accordance with ASC 740-10, for those tax positions where there is a greater than 50% likelihood that a tax benefit will be sustained, our policy will be to record the largest amount of tax benefit that is more likely than not to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where there is less than 50% likelihood that a tax benefit will be sustained, no tax benefit will be recognized in the financial statements.

The Company's policy is to record interest and penalties associated with unrecognized tax benefits as additional income taxes in the statement of comprehensive income. As of September 30, 2024 the Company had no unrecognized tax benefits and accordingly, the Company did not recognize any interest or penalties during 2023 or 2024 related to unrecognized tax benefits. There is no accrual for uncertain tax positions as of September 30, 2024.

The Company will file U.S. income tax returns and a state income tax return.

***Recently Issued and Adopted Accounting Pronouncements***

 ****

In June 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, as modified by FASB ASU No. 2019-10 and other subsequently issued related ASUs. The amendments in this Update affect loans, debt securities, trade receivables, and any other financial assets that have the contractual right to receive cash. The ASU requires an entity to recognize expected credit losses rather than incurred losses for financial assets. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted this new guidance effective October 1, 2023 utilizing the modified retrospective transition method. The adoption of this standard did not have a material impact on the Company's financial statements, but did change how the allowance for credit losses is determined.

Management does not believe that any other recently issued, but not yet effective, accounting standards could have a material effect on the accompanying financial statements. As new accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

**NOTE 4 – FAIR VALUE MEASUREMENTS**

The Company's financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value Measurements<br> as of September 30, 2024 Using:** | **Fair Value Measurements<br> as of September 30, 2024 Using:** | **Fair Value Measurements<br> as of September 30, 2024 Using:** | **Fair Value Measurements<br> as of September 30, 2024 Using:** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities: |  |  |  |  |
| Future equity obligations | $- | $- | $25000 | $25000 |
|  | $- | $- | $25000 | $25000 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Fair Value Measurements<br> as of September 30, 2023 Using:** | **Fair Value Measurements<br> as of September 30, 2023 Using:** | **Fair Value Measurements<br> as of September 30, 2023 Using:** | **Fair Value Measurements<br> as of September 30, 2023 Using:** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities: |  |  |  |  |
| Future equity obligations | $- | $- | $25000 | $25000 |
|  | $- | $- | $25000 | $25000 |

---

The Company measures the simple agreements for future equity at fair value based on significant inputs not observable in the market, which causes it to be classified as a Level 3 measurement within the fair value hierarchy. The valuation of the future equity obligations uses assumptions and estimates the Company believes would be made by a market participant in making the same valuation. The Company assesses these assumptions and estimates on an on-going basis as additional data impacting the assumptions and estimates are obtained. Changes in the fair value of the simple agreements for future equity related to updated assumptions and estimates are recognized within the statements of operations.

The simple agreements for future equity may change significantly as additional data is obtained, impacting the Company's assumptions regarding probabilities of outcomes used to estimate the fair value of the liability. In evaluating this information, considerable judgment is required to interpret the data used to develop the assumptions and estimates. The estimates of fair value may not be indicative of the amounts that could be realized in a current market exchange. Accordingly, the use of different market assumptions and/or different valuation techniques may have a material effect on the estimated fair value amounts, and such changes could materially impact the Company's results of operations in future periods.

The Company utilized a probability-weighted average approach based on the estimated market value of the underlying securities and the potential settlement outcomes of the simple agreements for future equity, including a liquidity event or future equity financing as well as other settlement alternatives. Both the market value of the underlying securities and the probability of the settlement outcomes include unobservable Level 3 inputs.

As of September 30, 2024 and 2023, the Company assumed an 50% probability of a liquidity event as the primary ultimate settlement outcome of the future equity obligations. Based on the Company's estimates regarding the probability of the triggering events and the Company's valuation, management determined the fair value of the SAFEs were representative of the face value as of September 30, 2024 and 2023.

The following table presents changes in future equity obligations for the years ended September 30, 2024 and 2023:

---

| | |
|:---|:---|
|  | **Future Equity**<br>**Obligations** |
| Outstanding as of September 30, 2022 | $- |
| Issuance of simple agreements for future equity | 25000 |
| Change in fair value | - |
| Outstanding as of September 30, 2023 | $25000 |
| Change in fair value | - |
| Outstanding as of September 30, 2024 | $25000 |

---

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

**NOTE 5 – INTANGIBLE ASSETS, NET**

As of September 30, 2024 and 2023, intangible assets, net consisted of:

---

| | | |
|:---|:---|:---|
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| Software development - property management system | $160000 | $- |
| Less: Accumulated amortization | (8889) | - |
| Intangible assets, net | $151111 | $- |

---

Amortization expense for the years ended September 30, 2024 and 2023, were $8,889 and $0, respectively, which is included in selling, general and administrative expenses in the consolidated statements of operations.

Future amortization expense is as follows:

---

| | |
|:---|:---|
| **Year ending September 30,** | |
| 2025 | $53333 |
| 2026 | 53333 |
| 2027 | 44445 |
|  | $151111 |

---

**NOTE 6 – DEBT**

*Revolving Line of Credit*

 

On March 14, 2024, the Company entered into a revolving line of credit agreement with East West Bank for a principal amount of up to $2,000,000. The loan matures on March 14, 2026, is secured by an assignment of a deposit account held by Collab CA's former member, YRQ Irrevocable Trust, and is intended exclusively for business operations. The loan has a variable interest rate based on the interest rate of the collateral's certificate of deposit plus 1.5%. The initial rate is set at 5.905%. The loan request monthly interest payments, and full repayment of principal and accrued interest due at maturity.

During the year ended September 30, 2024, the Company borrowed an aggregate of $2,442,854 and repaid $1,800,000. As of September 30, 2024, $642,854 of principal balance remained outstanding.

Future minimum principal repayments are as follows:

---

| | |
|:---|:---|
| **Year ending September 30,** | |
| 2025 | $- |
| 2026 | 642854 |
|  | $642854 |

---

 

*Future Equity Obligations*

In April 2023, the Company entered into a SAFE agreement for proceeds of $25,000. The SAFE has a valuation cap of $50,000,000 and a discount of 25%, which will be applied to the valuation of the Company at the time of the triggering event in order to calculate the price per share for the investor.

The SAFE will convert into equity upon the occurrence of a future qualified financing round of at least $10,000,000 or another triggering event, including the event of a merger, acquisition or initial public offering ("IPO").

As of September 30, 2024 and 2023, the fair value of SAFEs was $25,000 and $25, 0000, respectively. See Note 4 for fair value disclosures.

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

**NOTE 7 – STOCKHOLDERS' EQUITY**

The total number of shares of stock which the Company is authorized to issue is 200,000,000 shares, consisting of 190,000,000 shares of common stock, $0.001 par value per share, and 10,000,000 shares of preferred stock, $0.001 par value per share. Of the 10,000,000 authorized shares of preferred stock, 5,000 shares were designated as Series X preferred stock.

In October 2024, the Company issued 5,000 shares of Series X preferred stock to Collab CA's sole member. In December 2024, pursuant to the Reorganization Agreement, the member of Collab CA exchanged 100% of its membership interests for 4,550,500 shares of the Company's common stock. Both the issuance of Series X preferred stock and the issuance of common shares pursuant to the share exchange were conducted with YRQ Irrevocable Trust ("YRQ"), Collab CA's sole member. These series of transactions are considered together as part of the Reorganization.

*Preferred Stock*

 

Each share of Series X preferred stock is entitled to 1,000 votes. The holders of shares of Series X preferred stock are entitled to vote on all matters on which the Company's common stock shall be entitled to vote.

The holders of the Series X preferred stock are not entitled to dividends.

The holders of the Series X preferred stock shall not be entitled to any liquidation preference and the shares are not subject to redemption. Upon the event of liquidation, dissolution or winding up of the Company, voluntary or involuntary, the holders of Series X preferred stock would be entitled to receive the initial stated value of the Company's preferred stock.

The holders of the shares of Series X preferred stock shall not have any rights to convert such shares into, or exchange such shares for, shares of any other series or class of capital stock of the Company.

*Common Stock*

 

Each share of common stock entitles its holder to one vote per share on all matters to be voted or consented upon by the stockholders. Holders of our common stock are not entitled to cumulative voting rights with respect to the election of directors.

Holders of common stock are entitled to receive ratably such dividends or other distributions, if any, as may be declared by the Board out of funds legally available.

In the event of the liquidation, dissolution or winding up of our business, the holders of common stock are entitled to share ratably in the assets available for distribution after the payment of all of debts and other liabilities, subject to the prior rights of the holders of the Company's preferred stock.

 

*Collab CA Equity Transactions*

 

During the year ended September 30, 2024, the Company's sole member made contributions of $192,435, including cash contributions of $168,435 and in-kind services of $24,000. During the year ended September 30, 2023, the Company's sole member made contributions of $516,000, including cash contributions of $52,000 and in-kind services of $50,000. Additionally, the Company converted $414,000 in related party loans into equity, which were accounted for as contributions by the sole member.

During the year ended September 30, 2024, the Company had $441,211 in distributions, all consisting of cash. During the year ended September 30, 2023, the Company had $307,317 in distributions, including cash distributions of $121,652 and settlement of $185,665 in related party accounts receivable which were accounted for as distributions to the sole member.

The additions and contributions of Collab CA have been reflected in additional-paid in capital.

*Collab Z Equity Transactions*

In September 2024, the Company issued 540,891 shares to employees and consultants for services performed. The Company determined a fair value per share of $0.26 using a market-based approach whereby management identified public market comparable companies and applied a revenue multiple based on the average observed. Management then applied a discount for lack of marketability and minority interest. The total fair value was $140,632, of which $120,287 was included in general and administrative expenses and $20,345 was included in cost of revenue in the consolidated statements of operations.

The assumptions in estimating the fair value of common stock include the identification of comparable companies, and appropriate discounts based on the facts and circumstances. These estimates are highly subjective. Management will be required to estimate fair value, until such point in time that the Company had observable transactions or its shares are become quoted on an exchange.

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

**NOTE 8 – RELATED PARTY TRANSACTIONS**

*Revenue and Accounts Receivable* 

 

During the years ended September 30, 2024 and 2023, the Company earned revenues of $1,163,585 and $633,847, respectively, from related parties. As of September 30, 2024 and 2023, the Company had accounts receivable of $349,576 and $631,904, respectively, with related parties.

These related parties are primarily properties for which the Company provides various real estate services, including property management, construction and development management, and renovation services. To date, the Company has also provided or received certain advances from these properties outside the normal revenue generating services, as noted below.

 

*Due From / To Related Parties*

Due from related parties includes a) cash advances made and b) expenses and other costs paid for on behalf of related parties. Due to related parties includes cash advances received from various related parties. The Company enters into these transactions based on the current working capital needs of the Company and these related entities. These advances are unsecured, due on demand and non-interest bearing.

The following is a summary of due from / to related parties:

---

| | | |
|:---|:---|:---|
|  | **September 30,** | **September 30,** |
|  | **2024** | **2023** |
| Customer properties with common control and management\* | $139416 | $5054 |
| Entities with common control and management\* | 157767 | 92302 |
| YRQ Irrevocable Trust | 2259850 | - |
| &nbsp;&nbsp;&nbsp;Due from related parties | $2557033 | $97356 |
| Customer properties with common control and management\* | $1174916 | $224116 |
| Family member of former Chairman | 130000 | - |
| &nbsp;&nbsp;&nbsp;Due to related parties | $1304916 | $224116 |

---

\* The Company or its subsidiaries have no ownership in the customer properties or related party entities as per the amounts above. To date, Collab CA has shared common control and management with these entities.

*YRQ Irrevocable Trust*

During the year ended September 30, 2024, the Company advanced an aggregate of $2,259,850 to YRQ Irrevocable Trust ("YRQ") in order to provide working capital to the Company's related entities. These advances are unsecured, due on demand and non-interest bearing.

During 2023 and 2024, YRQ, as part of a control group that maintained control over Collab CA, became the sole member of Collab CA on August 21, 2024. Upon the Reorganization, YRQ received 4,550,500 shares of the Company's common stock and 5,000 shares of the Company's Series X preferred stock.

Subsequent to September 30, 2024, YRQ fully repaid its advances to the Company (see Note 10).

*Other*

 

During the year ended September 30, 2023, the Company had amounts due to related parties totaling $414,000. The related parties were customer properties that held common control and management. In December 2022, these amounts were converted into equity, and accounted for as contributions by Collab CA's member.

In September 2023, the Company settled $185,665 in accounts receivable with related party customer properties. In exchange for cash receipts, the Company recognized distributions to Collab CA's member.

During the years ended September 30, 2024 and 2023, Collab CA's former member provided certain advisory services for the Company for a fair value of $24,000 and $50,000, respectively. The amounts were recognized as non-cash member contributions.

**COLLAB Z INC.**

**NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS**

**SEPTEMBER 30, 2024 AND 2023**

**NOTE 9 – COMMITMENTS AND CONTINGENCIES**

 

***Minimum Rental Guarantee***

 ****

The Company has a minimum rental guarantee for certain related party managed properties whereby the Company will pay the difference between the collected rent and the minimum rent guarantee. These guarantees require the Company to ensure a specified minimum gross revenue each month. Should the properties' gross revenues fall below these thresholds, the Company is required to compensate for the shortfall. The maximum potential amount of future payments under these guarantees is estimated based on historical occupancy rates and market trends to project potential future shortfalls. The minimum rent guarantee thresholds are calculated annually based on the local market occupancy rates and prevailing market rental rates. The minimum rent guarantee terms are stipulated to last for the duration of the property management agreements unless terminated by either party or amended by mutual agreement. These agreements can be terminated by either party by providing 30 days' notice.

As of the issuance date of these consolidated financial statements, the maximum potential rental guarantees were approximately $102,000 per month. Since entering into these terms, the Company has achieved occupancy rates at all properties at or above market rental rates. As such, there have been no shortfall payments incurred by Collab to date.

***Contingencies***

The Company may be subject to pending legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome, if any, arising out of any such matters will have a material adverse effect on its business, financial condition or results of operations.

**NOTE 10 – SUBSEQUENT EVENTS**

Refer to Note 1 and 7 for details of the Company's Reorganization.

Subsequent to September 30, 2024, YRQ fully repaid its advances to the Company totaling $2,259,850.

In December 2024, the Company loaned $1,300,000 to a third party. The loan is unsecured, due on February 20, 2025 and bears interest at a rate of 8% per annum commencing January 4, 2025. As of the issuance date of these consolidated financial statements, the amount is still outstanding.

**1,250,000 Shares of Common Stock**

**COLLAB Z INC.**

![](image_001.jpg)

**PROSPECTUS**

*Sole Book-Runner*

**R.F. Lafferty & Co., Inc.**

**_______ ___, 2025**

**Until ____, 2025 (25 days from the date of this prospectus), all dealers that effect transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers' obligation to deliver a prospectus when acting as underwriters and with respect to their unsold allotments or subscriptions.**

The information in this prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state or other jurisdiction where the offer or sale is not permitted.

**SUBJECT TO COMPLETION, DATED [●], 2025**

**PRELIMINARY PROSPECTUS**

**100,000 Shares of Common Stock**

![](image_001.jpg)

**COLLAB Z INC.**

This prospectus relates to the resale of 100,000 shares of common stock, par value $0.001 per share, of Collab Z Inc., held by certain of the selling stockholders listed in the section "*Selling Stockholders*" (the "Selling Stockholders") as set forth herein.

Prior to the initial public offering, there has been no public market for our common stock or warrants. have applied to list our common stock for trading on The Nasdaq Capital Market under the symbols "CLBZ." There is no guarantee or assurance that our shares of common stock will be approved for listing on The Nasdaq Capital Market. This offering is contingent upon receiving approval of our listing from The Nasdaq Stock Market LLC ("Nasdaq") and the closing of our initial public offering. We will not receive any proceeds from the sale of shares by the selling stockholders.

Any shares sold by the Selling Stockholders until our common stock is listed or quoted on an established public trading market will take place at $ per share, which is the public offering price we are selling in our initial public offering. Thereafter, any sales will occur at prevailing market prices or in privately negotiated prices. The distribution of securities offered hereby may be effected in one or more transactions that may take place in ordinary brokers' transactions, privately negotiated transactions or through sales to one or more dealers for resale of such securities as principals. Usual and customary or specifically negotiated brokerage fees or commissions may be paid by the Selling Stockholders. No sales of the shares covered by this prospectus shall occur until the common stock sold in our initial public offering begins trading on The Nasdaq Capital Market. The Selling Stockholders have represented to us that they will not offer or sell their shares prior to the closing of the initial public offering.

On [●], 2025, a registration statement under the Securities Act of 1933, as amended (the "Securities Act") with respect to our initial public offering of common stock, was declared effective by the Securities and Exchange Commission (the "SEC"). We received approximately $[●] million in net proceeds from the offering (assuming no exercise of the underwriters' over-allotment option) after payment of underwriting discounts and commissions and estimated expenses of the offering.

**Investing in our common stock involves a high degree of risk, including the risk of losing your entire investment. See "*Risk Factors*" beginning on page 14 of the primary offering prospectus contained in the registration statement of which this prospectus forms a part, to read about factors you should consider before buying our common stock.**

**Neither the SEC nor any state securities commission nor any other regulatory body has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

**The date of this prospectus is , 2025**

**PROSPECTUS SUMMARY**

*This summary highlights selected information contained in other parts of this prospectus. Because it is a summary, it does not contain all of the information that you should consider before investing in shares of our common stock and it is qualified in its entirety by, and should be read in conjunction with, the more detailed information appearing elsewhere in this prospectus. You should read the entire prospectus carefully, especially "Risk Factors," "Special Note Regarding Forward-Looking Statements," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our financial statements and the related notes, before deciding to invest in shares of our common stock. Unless the context requires otherwise, the words "we," "us," "our," "Company" and "Collab Z" refer collectively to Collab Z Inc., a Nevada corporation, and its affiliated entities.* 

**Overview**

Collab Z Inc., through its subsidiary, Collab CA LLC, has developed its pioneering Collab Platform, a first-of-its-kind Community-Based Property Management model that is designed to replace traditional property management practice by enabling community involvement and by leveraging modern technology, including artificial intelligence features currently under development. Our approach actively involves tenants and other skilled community members in the management process, handling leasing and daily operations in a way that minimizes conflicts of interest and improves tenant satisfaction. With a four-year lead over new market entrants and the ability to scale instantly without local staffing, Collab Z uniquely positions itself against both traditional property management firms and SaaS-based PropTech competitors.

Our mission is to democratize property management and to foster a more engaged community of tenants, property owners, and professional service providers to maximize asset value and to create a sustainable, decentralized organization that benefit all stakeholders involved.

Our vision is to revolutionize the estate sector by maximizing community engagement in their living and working spaces for an autonomous and collaborative living experience.

We are committed to innovation, focusing on delivering substantial long-term value to our shareholders and improving the quality of life for our property owners, tenants, Community Pros, or CPs, and professional service providers. As we expand, our Collab Platform will continue to lead the shift towards a more connected and engaged property management ecosystem.

**<u>The Current Industry Challenges, Our Solution, and Our Opportunity</u>**

The Challenge

The property management industry faces longstanding inefficiencies and high costs due to outdated value chain structures. Collab Z has identified key pain points and opportunities for transformation:

&nbsp;&nbsp;&nbsp;&nbsp;1. Inefficiency in Traditional
 Models: Legacy property management structures are bloated with excessive layers of human oversight and reliance on third-party service
 providers. This increases management costs, creates long lead times, reduces transparency, and often results in misaligned interests
 between stakeholders.

&nbsp;&nbsp;&nbsp;&nbsp;2. Low Tenant Satisfaction:
 Traditional systems overlook the potential contributions of tenants who are willing to assist with routine tasks, such as communications,
 minor repairs, maintenance requests, and leasing coordination. This underutilization contributes to lower tenant satisfaction, higher
 turnover rates, and poorly maintained properties.

&nbsp;&nbsp;&nbsp;&nbsp;3. Scalability Challenges:
 Traditional models struggle to scale across multiple properties and regions due to their dependence on local staffing and manual
 processes. This increases operational complexity and limits growth opportunities.

&nbsp;&nbsp;&nbsp;&nbsp;4. Lag in Technology Adoption:
 Compared to other industries, property management has been slow to adopt disruptive technologies that could overhaul outdated operational
 models. This presents a significant opportunity for innovation.

**Our Solution**

Collab Z has developed its Collab Platform, a community-based property management solution that directly connects tenants with property management tasks, offering them financial incentives to contribute to their living environment and foster stronger community connections.AI-enhanced features for our Collab Platform are currently under development, with phased launches planned over an 18-month period starting in early 2025.

Our model enhances occupancy rate, eliminates unnecessary management layers, reduces operating expenses, and improves tenant satisfaction by delivering responsive services through Community Pros and professional service providers. Also, the Collab Platform enables faster entry into new market without building local teams.

As part of this model, Community Pros ("CPs") are tenants who assist with property management tasks, such as leasing showings, minor repairs, administrative work, and Customer support, in exchange for financial incentives.

For repair and maintenance tasks requiring specialized expertise, professional service providers (licensed contractors such as HVAC, plumbing, and electrical repair specialists) handle the work.

CPs play a coordination and communication role, similar to property managers, contacting professional service providers, scheduling service appointments, and ensuring that repairs are completed as expected in a timely manner

**Our Opportunity**

According to IBIS World, the property management industry reached $128.3 billion in revenue by the end of 2024, growing at a CAGR of 2.0%. As the first community-based property management solution, Collab Z is positioned to revolutionize this massive market.

With over 300,000 property management companies and 20 million rental properties in the U.S. (Sources: Truelist, February 2024; Rubyhome, August 2023), the opportunity for disruption is immense. The Collab Platform is designed to:

● Streamline operations

● Enhance tenant engagement

● Maximize property value

By applying a community-driven model and planning the integration of AI-powered features currently under development, Collab Z addresses longstanding inefficiencies while scaling across the nation's extensive rental property network.

**Listing on the Nasdaq Capital Market**

In connection with this offering, we have applied to list our common stock on the Nasdaq Capital Market under the symbol "CLBZ." If Nasdaq approves our listing application, we expect to list our common stock and consummate this offering. Nasdaq's listing requirements for the Nasdaq Capital Market include, among other things, a stock price threshold. If Nasdaq does not approve our application and the listing of our common stock, we will not proceed with this offering. There can be no assurance that our common stock will be listed on Nasdaq.

**Recent Developments**

***Equity Private Placement***

In September 2024, the Company issued an aggregate of 5,060,391 shares of its common stock in a private placement to certain investors pursuant to certain securities purchase agreement dated September 16, 2024 (the "Private Placement"). The Private Placement was conducted in accordance with applicable exemptions from registration under the Securities Act of 1933, as amended. On December 11, 2024, we cancelled 4,519,500 shares of common stock pursuant to certain cancellation and release agreements dated December 11, 2024, in order to correct a structural error, which was remedied by the Share Exchange dated December 30, 2024.

***Share Exchange***

In December 2024, the Company issued an aggregate of 4,550,500 shares of its common stock to the YRQ Irrevocable Trust, the holder of 5,000 shares of Series X Preferred Stock and controlling stockholder of the Company, and owner of all the membership interests of Collab CA LLC, a California limited liability company ("Collab LLC"), in exchange for 100% of the membership interests in Collab LLC, pursuant to Reorganization Agreement and Plan of Share Exchange dated December 30, 2024 (the "Share Exchange").

***Share Assignment***

On January 2, 2025, YRQ Irrevocable Trust assigned 1,838,000 of its shares of common stock (the "Assigned Shares") that it had received in the Share Exchange to family irrevocable trusts, friends and family members of the beneficiaries of YRQ Irrevocable Trust (the "Assignment"). Following the Assignment, YRQ Irrevocable Trust owns 2,712,500 shares of common stock and 5,000 shares of Series X Preferred Stock. The Assigned Shares are held directly by the recipients and are no longer considered beneficially owned by YRQ Irrevocable Trust.

**Our Corporate History and Structure** 

We were incorporated in Nevada on May 10, 2024, for the purpose of reorganizing our structure and to become the holding company for Collab LLC.

In September 2024, we issued an aggregate of 5,060,391 shares of our common stock in a private placement to certain initial investors pursuant to certain securities purchase agreements dated September 16, 2024 (the "Private Placement"), including an aggregate of 2,656,000 shares of common stock to the Controlling Group, comprised of 2,462,500 shares issued to YRQ Trust, 33,500 shares issued to SDZ-1-2022 Trust, 140,000 shares issued to SDZ-2-2022 Trust and 20,000 shares issued to Shui Dui Zi Irrevocable Family Trust. The trustees and beneficiaries of YRQ Trust are immediate family members of Mr. Qian Wang, our founder and former Chairman, who is the trustee of the SDZ-1-2022 Trust, the SDZ-2-2022 Trust and the Shui Dui Zi Irrevocable Family Trusts.

On October 3, 2024, we filed a Certificate of Designation with the Secretary of State of Nevada that authorized us to issue up to 5,000 shares of Series X Preferred Stock, par value $0.001 per share, and provides for 1,000 votes per share when voting together with the common stock. The Company issued all of the shares of Series X Preferred Stock to the YRQ Trust.

On December 11, 2024, we cancelled an aggregate of 4,519,500 shares of common stock pursuant to certain cancellation and release agreements dated December 11, 2024, in order to correct a structural error, which was remedied by the Reorganization Agreement (as defined below).

In December 2024, Collab LLC became a direct, wholly owned subsidiary of the Company through the closing of a share exchange pursuant to a Reorganization Agreement and Plan of Share Exchange dated December 30, 2024 (the "Reorganization Agreement" or "Reorganization"). Pursuant to the Reorganization, the sole member of Collab LLC, YRQ Trust, exchanged 100% of their member interests for a total of 4,550,500 shares of the Company's common stock. As a result, Collab LLC became a direct, wholly owned subsidiary of the Company. Collab Z Inc. is a holding company and carries out all its operations through its subsidiaries. Collab LLC is our main operating subsidiary.

On January 2, 2025, YRQ Trust assigned 1,838,000 of its shares of common stock (the "Assigned Shares") that it had received in the Reorganization to family irrevocable trusts, friends and family members of the beneficiaries of YRQ Trust (the "Assignment"). Following the Assignment, YRQ Irrevocable Trust owns 2,712,500 shares of common stock and 5,000 shares of Series X Preferred Stock. The Assigned Shares are held directly by the recipients and are no longer considered beneficially owned by YRQ Trust.

On June 5, 2025, we filed a Certificate of Designation with the Secretary of State of Nevada that authorized us to issue up to 1,250,000 shares of Series B Preferred Stock with a stated value of $4.00 per share. Pursuant to a securities purchase agreement, dated May 27, 2025, we sold 75,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $300,000.

**Corporate Information**

Our principal executive offices are located at 2001 Addison St, Suite 300, Berkeley, CA 94704. Our website address is https://living.collabhome.io/. The information included on our website is not part of this prospectus.

**Summary of Risk Factors**

An investment in our securities involves a high degree of risk. You should carefully consider the risks summarized below. These risks are discussed more fully in the "*Risk Factors*" section immediately following this Prospectus Summary. These risks include, but are not limited to, the following:

*<u>Risks Related to the Company and Our Business</u>*

● We are a rapidly growing company with a relatively limited operating history, which may result in increased risks, uncertainties, expenses, and difficulties, and makes it difficult to evaluate our prospects.

● A majority of our revenue is derived from property management and EB-5 management fees, which are subject to external economic and political conditions such as recessions, interests rates, foreign currency fluctuations, and declines in those engagements could have a material adverse effect on our financial condition and results of operations.

● We track certain operational metrics, which are subject to inherent challenges in measurement, and real or perceived inaccuracies in such metrics may harm our reputation and adversely affect our stock price, business, results of operations, and financial condition.

● Our growth plan may include completing acquisitions, which may or may not happen depending on the acquisition opportunities that are available in the marketplace.

● We are subject to concentration risk.

● We depend on our executive team and other employees to manage the business and the loss of one or more of these employees or an inability to attract and retain highly skilled employees could materially harm our business.

● Our management team has limited experience managing a public company.

● Although dependent on certain key personnel, the Company does not have any key man life insurance policies on any such people.

● Our consolidated financial statements have been prepared on a going concern basis and we must raise additional capital to fund our operations to continue as a going concern.

● We have entered into certain related party transactions and may continue to rely on related parties for certain development and support activities.

● We will be subject to various risks related to artificial intelligence ("AI") and technology as we expand into the PropTech industry.

● Relying on external AI technologies could lead to issues such as service disruptions or changes in licensing terms.

● We are exposed to risks related to the adoption and use of artificial intelligence.

● Our use of "open source" software could negatively affect our ability to provide AI-based PropTech services and subject us to possible litigation, and our participation in open source projects may impose unanticipated burdens or restrictions.

● We might be exposed to potential financial liabilities as a result of receiving minimum rental guarantees.

● Our revenue from our service agreements depends on timely payments, performance-based bonuses and project decisions which are beyond our control.

● Our shift toward a property management-focused business model may result in revenue volatility and operational challenges.

● We have entered and may continue to enter into joint ventures that will expose us to increased operating risks.

*<u>Risks Related to Our Intellectual Property and Platform Development</u>*

● We are reliant on one main type of service and some of our products are still in the prototype phase and might never be operational products.

● If we are unable to maintain the quality of our products, expand our product offerings or continue technological innovation and improvements, our prospects for future growth may be harmed.

● We are making substantial investments in new product offerings and technologies and expect to increase such investments in the future. These efforts are inherently risky, and we may never realize any expected benefits from them.

● The development and commercialization of our products are highly competitive.

● We must correctly predict, identify, and interpret changes in consumer preferences and demand, offer new products to meet those changes, and respond to competitive innovation.

● General economic conditions and commercial real estate market conditions have had and may in the future have a negative impact on our business.

● Seasonal fluctuations and other market data in the investment real estate industry could adversely affect our business and make comparisons of our quarterly results difficult.

● Our business has been and may in the future be adversely affected by restrictions in the availability of debt or equity capital as well as a lack of adequate credit and the risk of deterioration of the debt or credit markets and commercial real estate markets.

● We rely on third-party service providers to support our platform and information technology systems.

● Some of our products and services contain open-source software, which may pose particular risks to our proprietary software, products, and services in a manner that could have a negative effect on our business.

● We may not be able to continue to obtain licenses to third-party software and intellectual property on reasonable terms or at all, which may disrupt our business and harm our financial results.

● Claims by others that we infringed their proprietary technology or other intellectual property rights could harm our business.

● Our trademarks, copyrights, and other intellectual property could be unenforceable or ineffective.

● Failure to obtain proper business licenses or other documentation or to otherwise comply with local laws and requirements regarding marketing or matching commercial property and business borrowers with financial services providers property management may result in civil or criminal penalties and restrictions on our ability to conduct business in that jurisdiction.

● Changes in the regulation of the internet, mobile carriers, and their partners could negatively affect our business.

● We collect, store, use and otherwise process personal information, including financial information and other sensitive data, which subjects us to governmental regulation and other legal obligations related to data privacy and security. Our actual or perceived failure to comply with such obligations could harm our business.

*<u>Risks Related to Our Regulatory Environment</u>*

● Our business may be subject to a variety of U.S. financial regulations, many of which are overlapping, ambiguous and still developing, which could subject us to claims or otherwise harm our business.

● Litigation, regulatory actions and compliance issues could subject us to significant fines, penalties, judgments, remediation costs and requirements resulting in increased expenses.

*<u>Risks Related to Taxation</u>*

● We have made significant estimates and judgments in calculating our income tax provision and other tax assets and liabilities. If these estimates or judgments are incorrect, our operating results and financial condition may be materially affected.

● Changes in tax laws could have a material adverse effect on our business, financial condition and results of operations.

*<u>Risks Related to This Offering and Ownership of Our Securities</u>*

● Concentration of ownership of our voting stock by the Controlling Group will prevent new investors from influencing significant corporate decisions.

● While we are seeking to have shares of our common stock listed on Nasdaq, there is no assurance that either of such securities will be listed on Nasdaq. Even if we meet the initial listing requirements of the Nasdaq Capital Market, there can be no assurance that we will be able to comply with the continued listing standards of the Nasdaq Capital Market, a failure that could result in a delisting of our securities.

● The requirements of being a public company may strain our resources, divert management's attention and affect our ability to attract and retain qualified board members.

● Our management has broad discretion as to the use of the net proceeds from this offering.

● We may issue additional debt and equity securities, which are senior to our common stock as to distributions and in liquidation, which could materially adversely affect the market price of our securities.

● Our potential future earnings and cash distributions to our stockholders may affect the market price of our securities.

 

*<u>General Risk Factors</u>*

● We may make decisions based on the best interests of our users to build long-term trust that may result in us forgoing short-term gains.

● We have less experience operating in some of the newer market verticals to which we have expanded.

● We may not be able to expand into new markets.

● Damage to our reputation could negatively impact our business, financial condition, and results of operations.

**Implications of Being an Emerging Growth Company**

We are an "emerging growth company" as defined in Section 2(a) of the Securities Act, and we may remain an emerging growth company for up to five years following the closing of this offering. For so long as we remain an emerging growth company, we are permitted and intend to rely on certain exemptions from various public company reporting requirements, including not being required to have our internal control over financial reporting audited by our independent registered public accounting firm pursuant to Section 404(b) of the Sarbanes-Oxley Act of 2002, or Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and any golden parachute payments not previously approved. In particular, in this prospectus, we have provided only two years of audited financial statements and have not included all of the executive compensation-related information that would be required if we were not an emerging growth company. Accordingly, the information contained herein may be different from the information you receive from other public companies in which you hold stock.

In addition, the federal securities laws provide that an emerging growth company may take advantage of an extended transition period for complying with new or revised accounting standards. This provision allows an emerging growth company to delay the adoption of some accounting standards until those standards would otherwise apply to private companies. We have elected to use the extended transition period during the period in which we remain an emerging growth company; however, we have and may adopt certain new or revised accounting standards early.

We would cease to be an "emerging growth company" upon the earliest to occur of: (i) the last day of the fiscal year in which we have $1.235 billion or more in annual revenue, (ii) the date on which we first qualify as a large accelerated filer under the rules of the Securities and Exchange Commission, or SEC, (iii) the date on which we have, in any three-year period, issued more than $1.0 billion in non-convertible debt securities, and (iv) the last day of the fiscal year ending after the fifth anniversary of this offering.

**Implications of Being a Smaller Reporting Company**

We are a "smaller reporting company" as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended. We may take advantage of certain of the scaled disclosures available to smaller reporting companies until the fiscal year following the determination that our voting and non-voting common stock held by non-affiliates is more than $250 million measured on the last business day of our second fiscal quarter, or our annual revenues are less than $100 million during the most recently completed fiscal year and our voting and non-voting common stock held by non-affiliates is less than $700 million measured on the last business day of our second fiscal quarter.

**The RESALE offering**

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| | |
|:---|:---|
| Common stock offered | 100,000 shares |
| Shares of common stock outstanding before this offering <sup>(1)</sup> | 5,151,391 shares. |
| Shares of common stock outstanding after this offering <sup>(2)</sup> | 6,795,439 shares |
| Use of proceeds | We will not receive any proceeds from the sale of common stock held by the Selling Stockholder being registered in this prospectus. |
| Proposed Trading Symbol | We have applied to list our common stock for trading on The Nasdaq Capital Market under the symbols "CLBZ." The initial public offering, and therefore this resale offering, will not be consummated until we have received Nasdaq's approval of our application for the listing of our common stock. No assurance can be given that our application will be approved. |
| Risk factors | An investment in our securities involves a high degree of risk. See "*Risk Factors*" beginning on page 14 of the primary offering prospectus contained in the registration statement of which this prospectus forms a part, and other information included in this prospectus and the registration statement of which this prospectus forms a part, for a discussion of factors you should carefully consider before deciding to invest in our common stock. |

---

(1) The number of shares of
 common stock outstanding before this offering excludes the following shares:

● 587,975 shares of our common stock issuable upon the exercise of outstanding stock options issued under our 2025 Plan, at a weighted average exercise price of $2.08 per share;

● 175,733 shares of our common stock reserved for future issuance under our 2025 Plan, as well as any automatic increases in the number of shares of our common stock reserved for future issuance under our 2025 Plan; and

● 50,000 shares of common stock issuable upon the exercise of the Representatives' Warrants.

(2) The number of shares of
 common stock outstanding after this offering includes an aggregate of 1,644,047 shares of common stock issuable upon the closing
 of this offering, consisting of the following shares:

● 1,250,000 shares of common stock to be issued in this offering;

● 100,000 shares of common stock to be issued at the closing of this offering to Blake Elliot Inc. as compensation pursuant to certain advisory agreement dated May 6, 2024;

● 8,333 shares of common stock issuable at a 75% discounted price of $3.00 per share assuming a public offering price of $4.00, upon the automatic conversion of $25,000 of a Simple Agreement for Future Equity (SAFE) issued by the Company in April 2023 (the "2023 SAFE");

● 285,714 shares of common stock issuable upon the conversion of 200,000 shares of Series B Preferred Stock.

Unless the context otherwise requires, the information in this prospectus assumes:

● an initial public offering price of $4.00 per share.

● no exercise of the Representatives' Warrants or over-allotment option issued in this offering.

**USE OF PROCEEDS**

We will not receive any of the proceeds from the sale of the common stock held by the Selling Stockholders.

**SELLING STOCKHOLDERS** 

This prospectus relates to the sale or other disposition of up to 100,000 shares of our common stock by the Selling Stockholders and their donees, pledgees, transferees or other successors-in-interest selling shares of common stock or interests in shares of common stock received after the date of this prospectus from a Selling Stockholder as a gift, pledge, partnership distribution or other transfer.

The shares of common stock being offered by the Selling Stockholder in this prospectus was acquired pursuant to the certain advisory agreement dated on May 6, 2024 between Blake Elliot Inc. and Collab CA (the "Advisory Agreement"). The issuance of the shares of common stock was prior to the Company's initial public offering ("IPO") and the shares of common stock issued under the Advisory Agreement were unregistered restricted securities under the Securities Act of 1933, as amended.

The table below sets forth information as of the date of this prospectus, to our knowledge, the Selling Stockholder and other information regarding the beneficial ownership (as determined under Section 13(d) of the Exchange Act and the rules and regulations thereunder) of the shares of common stock held by the Selling Stockholders. The second column lists the number of shares of common stock beneficially owned by the Selling Stockholders, as of July 21, 2025. The third column lists the maximum number of shares of common stock that may be sold or otherwise disposed of by the Selling Stockholder pursuant to the registration statement of which this prospectus forms a part. The Selling Stockholder may sell or otherwise dispose of some, all or none of their shares. Pursuant to Rules 13d-3 and 13d-5 of the Exchange Act, beneficial ownership includes any shares of our common stock as to which a stockholder has sole or shared voting power or investment power, and also any shares of our common stock which the stockholder has the right to acquire within 60 days.

The percentage of beneficial ownership for the Selling Stockholders is based on 5,151,391 shares of common stock outstanding as of the date of this prospectus.

Except as described below, to our knowledge, none of the Selling Stockholders have had any material relationship with us within the past three years. Our knowledge is based on information provided by the Selling Stockholders in registration statement questionnaires.

The shares of common stock being covered hereby may be sold or otherwise disposed of from time to time during the period the registration statement of which this prospectus is a part remains effective, by or for the account of the Selling Stockholders. After the date of effectiveness of the registration statement of which this prospectus forms a part, the Selling Stockholders may have sold or transferred, in transactions covered by this prospectus, some or all of their common stock.

Information about the Selling Stockholders may change over time. Any changed information will be set forth in an amendment to the registration statement or supplement to this prospectus, to the extent required by law.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Shares Beneficially Owned as of the date of this Prospectus** | **Shares Beneficially Owned as of the date of this Prospectus** | **Shares Offered by this** | **Shares Beneficially Owned After the Offering <sup>(1)</sup>** | **Shares Beneficially Owned After the Offering <sup>(1)</sup>** |  |
| <br>**Name of Selling Stockholder** | **Number** | **Percent** | **Prospectus** | **Number** | **Percent** |  |
| Blake Elliot Inc. <sup>(1)</sup> | 100000 | 1.94% | 100000 | 0 \* | 0 | %\* |
| Total | 100000 |  |  |  |  |  |

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(1) The 100,000 shares of common
 stock were issued to Blake Elliot Inc. pursuant to an advisory agreement dated on May 6, 2024 between Blake Elliot Inc. and Collab
 CA, as compensation of the services provided by Blake Elliot Inc. Blake Elliot Inc., a Florida corporation, provides consulting and
 advisory services to us. Blake Janover, the Managing Director of Blake Elliot Inc., has voting and dispositive control over the shares
 of common stock held by Blake Elliot Inc. The principal address of Blake Elliot Inc.is 2075 NW 52nd St Boca Raton, FL 33496. The
 shares of common stock offered by Blake Elliot Inc. under this prospectus are not subject to the lock-up agreements with the underwriters.

\* Assumes the sale of all shares offered pursuant to Public Offering Prospectus.

**SELLING STOCKHOLDER PLAN OF DISTRIBUTION**

The Selling Stockholders may, from time to time, sell any or all of their shares of common stock on any stock exchange, market or trading facility on which the shares are traded or in private transactions. No resales of shares of common stock covered by this prospectus shall occur until the shares of common stock sold in our initial public offering begins trading on The Nasdaq Capital Market. These sales may be at fixed or negotiated prices. The Selling Stockholders may use any one or more of the following methods when selling shares:

● ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

● block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;

● purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

● an exchange distribution in accordance with the rules of the applicable exchange;

● privately negotiated transactions;

● short sales effected after the date the registration statement of which this prospectus is a part is declared effective by the SEC;

● broker-dealers may agree with the Selling Stockholders to sell a specified number of such shares at a stipulated price per share;

● a combination of any such methods of sale; and

● any other method permitted pursuant to applicable law.

Broker-dealers engaged by the Selling Stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the Selling Stockholders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated. The Selling Stockholders do not expect these commissions and discounts to exceed what is customary in the types of transactions involved. Any profits on the resale of shares of common stock by a broker-dealer acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. Discounts, concessions, commissions and similar selling expenses, if any, attributable to the sale of shares will be borne by a Selling Stockholder. The Selling Stockholders may agree to indemnify any agent, dealer or broker-dealer that participates in transactions involving sales of the shares if liabilities are imposed on that person under the Securities Act.

The Selling Stockholders may from time to time pledge or grant a security interest in some or all of the shares of common stock owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of common stock from time to time under this prospectus after we have filed a supplement to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act supplementing or amending the list of Selling Stockholders to include the pledgee, transferee or other successors in interest as Selling Stockholders under this prospectus.

The Selling Stockholders also may transfer the shares of common stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this prospectus and may sell the shares of common stock from time to time under this prospectus after we have filed a supplement to this prospectus under Rule 424(b)(3) or other applicable provision of the Securities Act supplementing or amending the list of Selling Stockholders to include the pledgee, transferee or other successors in interest as Selling Stockholders under this prospectus.

The Selling Stockholders and any broker-dealers or agents that are involved in selling the shares of common stock held by the Selling Stockholders or its transferees, pledgees or other successors in interest may be deemed to be "underwriters" within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale of the shares of common stock purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act.

We are required to pay all fees and expenses incident to the registration of the shares of common stock held by the Selling Stockholders. We have agreed to indemnify the Selling Stockholders against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.

The Selling Stockholders have advised us that they have not entered into any agreements, understandings or arrangements with any underwriters or broker-dealers regarding the sale of their shares of common stock, nor is there an underwriter or coordinating broker acting in connection with a proposed sale of common stock by any Selling Stockholder. If we are notified by any Selling Stockholder that any material arrangement has been entered into with a broker-dealer for the sale of shares of his, her, or its common stock, if required, we will file a supplement to this prospectus. If the Selling Stockholders use this prospectus for any sale of their shares of common stock, they will be subject to the prospectus delivery requirements of the Securities Act.

In order to comply with the securities laws of some states, if applicable, the shares of common stock held by the Selling Stockholders or its transferees, pledgees or other successors in interest may be sold in these jurisdictions only through registered or licensed brokers or dealers. In addition, in some states the common stock may not be sold unless it has been registered or qualified for sale or an exemption from registration or qualification requirements is available and is complied with.

We have advised the Selling Stockholders that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of shares in the market and to the activities of the Selling Stockholders and their affiliates. In addition, to the extent applicable we will make copies of this prospectus (as it may be supplemented or amended from time to time) available to the Selling Stockholders for the purpose of satisfying the prospectus delivery requirements of the Securities Act. The Selling Stockholders may indemnify any broker-dealer that participates in transactions involving the sale of the shares against certain liabilities, including liabilities arising under the Securities Act.

We have agreed with the Selling Stockholders to keep the registration statement of which this prospectus constitutes a part effective until the earliest of (1) such time as all of the shares covered by this prospectus have been disposed of pursuant to and in accordance with the registration statement and (2) the date on which all of the shares may be sold without restriction pursuant to Rule 144 of the Securities Act.

**LEGAL MATTERS**

Certain legal matters with respect to the validity of the securities being offered by this prospectus will be passed upon by Sichenzia Ross Ference Carmel LLP, New York, New York.

**100,000 Shares of Common Stock**

**COLLAB Z INC.**

**RESALE PROSPECTUS**

**You should rely only on the information contained in this prospectus. No dealer, salesperson or other person is authorized to give information that is not contained in this prospectus. This prospectus is not an offer to sell nor is it seeking an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. The information contained in this prospectus is correct only as of the date of this prospectus, regardless of the time of the delivery of this prospectus or the sale of these securities.**

**, 2025**

**PART II**

**INFORMATION NOT REQUIRED IN THE PROSPECTUS**

**Item 13. Other Expenses of Issuance and Distribution**

The following table sets forth the costs and expenses, other than underwriting discounts and commissions, payable by Collab Z Inc., or the Registrant, in connection with the sale of our common stock being registered. The Registrant will bear all of the below fees and expenses, which are inclusive of the fees and expenses incidental to the registration of our common stock and the selling stockholders' shares. All amounts shown are estimates except for the Securities and Exchange Commission ("SEC") registration fee, the Financial Industry Regulatory Authority, Inc. ("FINRA") filing fee, and the Nasdaq Capital Market listing fee.

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| | |
|:---|:---|
|  | **Amount** |
| SEC registration fee | $980.31 |
| Nasdaq Capital Market listing fee | 5000 |
| FINRA filing fee | 1362.50 |
| Accounting fees and expenses |  |
| Legal fees and expenses |  |
| Transfer agent fees and expenses |  |
| Printing and related fees and expenses |  |
| Miscellaneous fees and expenses |  |
| **Total** | $— |

---

\* Estimated.

**Item 14. Indemnification of Directors and Officers**

Neither our articles of incorporation nor bylaws prevent us from indemnifying our officers, directors and agents to the extent permitted under the *Nevada Revised Statutes* ("NRS"). NRS Section 78.7502, provides that a corporation may indemnify any director, officer, employee or agent of a corporation against expenses, including fees, actually and reasonably incurred by him in connection with any defense to the extent that a director, officer, employee or agent of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to Section 78.7502(1) or 78.7502(2), or in defense of any claim, issue or matter therein.

NRS 78.7502(1) provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the corporation, by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, including fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with the action, suit or proceeding if he: (a) is not liable pursuant to NRS 78.138; or (b) acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.

NRS Section 78.7502(2) provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses, including amounts paid in settlement and fees actually and reasonably incurred by him in connection with the defense or settlement of the action or suit if he: (a) is not liable pursuant to NRS 78.138; or (b) acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the corporation. Indemnification may not be made for any claim, issue or matter as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals there from, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.

NRS Section 78.747 provides that except as otherwise provided by specific statute, no director or officer of a corporation is individually liable for a debt or liability of the corporation, unless the director or officer acts as the alter ego of the corporation. The court as a matter of law must determine the question of whether a director or officer acts as the alter ego of a corporation.

Our Bylaws provide that we will indemnify our directors and executive officers to the fullest extent not prohibited by the NRS, as amended from time to time, or any other applicable law, *provided, however,* that the we may modify the extent of such indemnification by individual contracts with our directors and executive officers, and, *provided, further,* that we shall not be required to indemnify any director or executive officer in connection with any proceeding (or part thereof) initiated by such person unless (i) such indemnification is expressly required to be made by law, (ii) the proceeding was authorized by the Board of Directors of the corporation, (iii) such indemnification is provided by the corporation, in its sole discretion, pursuant to the powers vested in the corporation under the Act or any other applicable law or (iv) such indemnification is required to be made under the amended Bylaws. We have the power to indemnify our other officers, employees and other agents as set forth in the NRS or any other applicable law. The Board of Directors shall have the power to delegate the determination of whether indemnification shall be given to any such person except executive officers to such officers or other persons as the Board of Directors shall determine. To the fullest extent permitted by the NRS, or any other applicable law, upon approval by our Board of Directors, we may purchase insurance on behalf of any person required or permitted to be indemnified pursuant to our amended Bylaws.

If a claim is not paid in full by the Company, the claimant may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim and, if successful in whole or in part, the claimant shall be entitled to be paid also the expense of prosecuting such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in advance of its final disposition where any undertaking required by the By-laws of the Company has been tendered to the Company) that the claimant has not met the standards of conduct which make it permissible under the NRS for the Company to indemnify the claimant for the amount claimed, but the burden of proving such defense shall be on the Company. Neither the failure of the Company (including its Board of Directors, legal counsel, or its stockholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in the circumstances because he or she has met the applicable standard of conduct set forth in the NRS, nor an actual determination by the Company (including its Board of Directors, legal counsel, or its stockholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the claimant has not met the applicable standard of conduct. Indemnification shall include payment by the Company of expenses in defending an action or proceeding in advance of the final disposition of such action or proceeding upon receipt of an undertaking by the person indemnified to repay such payment if it is ultimately determined that such person is not entitled to indemnification.

We intend to enter into separate indemnification agreements with our directors and officers. Each indemnification agreement will provide, among other things, for indemnification to the fullest extent permitted by law and our amended and restated certificate of incorporation and bylaws against any and all expenses, judgments, fines, penalties and amounts paid in settlement of any claim. The indemnification agreements will provide for the advancement or payment of all expenses to the indemnitee and for reimbursement to us if it is found that such indemnitee is not entitled to such indemnification under applicable law and our articles of incorporation and bylaws.

We are in the process of obtaining standard policies of insurance under which coverage is provided (a) to our directors and officers against loss rising from claims made by reason of breach of duty or other wrongful act, and (b) to us with respect to payments which we may make to such officers and directors pursuant to the above indemnification provision or otherwise as a matter of law.

The underwriting agreement, filed as Exhibit 1.1 to this registration statement, will provide for indemnification, under certain circumstances, by the underwriter of us and our officers and directors for certain liabilities arising under the Securities Act or otherwise.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us under the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 15. Recent Sales of Unregistered Securities.**

Since the Company's incorporation, it has granted or issued the following securities of the registrant that were not registered under the Securities Act of 1933, as amended.

**Common Stock**

***SAFE Agreement***

In April 2023, the Company entered into a SAFE agreement for proceeds of $25,000 with an investor. The SAFE has a valuation cap of $50,000,000 and a discount of 25%, which will be applied to the valuation of the Company at the time of the triggering event in order to calculate the price per share for the investor.

The SAFE will convert into equity upon the occurrence of a future qualified financing round of at least $10,000,000 or another triggering event, including the event of a merger, acquisition or initial public offering ("IPO") as contemplated in this offering. The SAFE will convert into an amount of shares undeterminable until an offering price for this offering is established. We expect to issue 8,333 shares of common stock to the investor issuable at a 75% discounted price of $3.00 per share assuming a public offering price of $4.00.

***Advisory Agreement***

On May 6, 2024, Collab CA entered into an Advisory Agreement (the "Advisory Agreement") with Blake Elliot Inc., a Florida corporation (the "Advisor"), pursuant to which the Advisor will 100,000 shares of common stock of the Company as compensation of the services provided by the Advisor.

***Equity Private Placement***

In September 2024, we issued an aggregate of 5,060,391 shares of our common stock in a private placement to certain investors pursuant to certain securities purchase agreements dated September 16, 2024 (the "Private Placement"). The Private Placement was conducted in accordance with applicable exemptions from registration under the Securities Act of 1933, as amended. On December 11, 2024, we cancelled 4,519,500 shares of common stock pursuant to certain cancellation and release agreements dated December 11, 2024, in order to correct a structural error, which was remedied by the Share Exchange dated December 30, 2024.

***Share Exchange***

In December 2024, the Company issued an aggregate of 4,550,500 shares of its common stock to the YRQ Irrevocable Trust, the holder of 5,000 shares of Series X Preferred Stock and controlling stockholder of the Company, and owner of all the membership interests of Collab CA LLC, a California limited liability company ("Collab LLC"), in exchange for 100% of the membership interests in Collab LLC, pursuant to Reorganization Agreement and Plan of Share Exchange dated December 30, 2024 (the "Share Exchange").

***Joint Ventures***

 ****

In March and April 2025, we entered into, the Joint Venture Agreements with five unaffiliated entities to form joint venture companies in Nevada, wherein we hold 40% ownership stake in each joint venture company. For four of the five joint venture agreements, the Company issued 10,000 shares for each joint venture entity, which valued $20,000 under the price of $2.00 per share, as part of the capital funding for the joint venture. For the remaining agreement, the Company issued 20,000 shares for the joint venture entity, which valued $40,000 under the price of $2.00 per share of our common stock, as part of the capital funding for the joint venture.

**Preferred Stock**

***Series B Private Placement***

 ****

Pursuant to a Certificate of Designation filed with the Secretary of State of Nevada on June 5, 2025, we are authorized to issue up to 1,250,000 shares of Series B Preferred Stock with a stated value of $4.00 per share. As of the date of the prospectus, we have sold an aggregate of 200,000 shares of Series B Preferred Stock, consisting of:

● 75,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $300,000 pursuant to a securities purchase agreement dated May 27, 2025;

● 25,000 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $100,000 pursuant to a securities purchase agreement, dated June 24, 2025;

● 25,000 and 37,500 shares of Series B Preferred Stock to two accredited investors, for an aggregate purchase price of $100,000 and $150,000, respectively, pursuant to securities purchase agreements, dated July 7, 2025;

37,500 shares of Series B Preferred Stock to one accredited investor for an aggregate purchase price of $150,000 pursuant to a securities purchase agreement, dated July 9, 2025.

**Options**

In March 2025, the Company granted options to purchase an aggregate of 490,500 shares of common stock to certain individuals under the 2025 Equity Incentive Plan (the "Plan"). In May 2025, the Company granted an aggregate of 97,475 options under the Plan to the individuals under the Plan.

**Item 16. Exhibits.**

(a) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 1.1\* | Form of Underwriting Agreement |
| 2.1 | [Form of Reorganization Agreement and Plan of Share Exchange by and among the Registrant, Collab CA LLC and its shareholders.](ea024913201ex2-1_collab.htm) |
| 3.1 | [Articles of Incorporation of the Registrant](ea024913201ex3-1_collab.htm) |
| 3.2 | [Bylaws of the Registrant](ea024913201ex3-2_collab.htm) |
| 3.3 | [Series X Preferred Stock Certificate of Designation](ea024913201ex3-3_collab.htm) |
| 3.4 | [Series B Preferred Stock Certificate of Designation](ea024913201ex3-4_collab.htm) |
| 4.1\* | Form of Representative's Warrant. |
| 5.1\* | Opinion of Counsel to the Registrant. |
| 10.1 | [Form of Securities Purchase Agreement for September 2024 Private Placement](ea024913201ex10-1_collab.htm) |
| 10.2 | [Form of Cancellation and Release Agreement](ea024913201ex10-2_collab.htm) |
| 10.3 | [Form of Securities Purchase Agreement for January 2025 Private Placement](ea024913201ex10-3_collab.htm) |
| 10.4 | [Form of Stock Assignment Agreement for January 2025 Private Placement](ea024913201ex10-4_collab.htm) |
| 10.5 | [SAFE Agreement between Khyati Mody Company and Collab CA LLC dated April 25, 2023](ea024913201ex10-5_collab.htm) |
| 10.6 | [Form of Property Management Agreement](ea024913201ex10-6_collab.htm) |
| 10.7 | [Form of Limited Liability Company Agreement](ea024913201ex10-7_collab.htm) |
| 10. 8 | [Advisory Agreement between Blake Elliot Inc. and Collab (USA) Capital LLC dated May 6, 2024.](ea024913201ex10-8_collab.htm) |
| 10.9 | [Consulting Agreement by and between Zhaoju ("Kelly") Shen and Collab CA LLC dated October 23, 2024](ea024913201ex10-9_collab.htm) |
| 10.10 | [Director Agreement, dated May 1, 2025, between the Company and William Caragol](ea024913201ex10-10_collab.htm) |
| 10.11† | [2025 Equity Incentive Plan](ea024913201ex10-11_collab.htm) |
| 10.12 | [Form of Securities Purchase Agreement for Series B Preferred Stock Private Placement](ea024913201ex10-12_collab.htm) |
| 14.1 | [Code of Business Conduct and Ethics](ea024913201ex14-1_collab.htm) |
| 19.1 | [Insider Trading Policy](ea024913201ex19-1_collab.htm) |
| 21.1 | [List of Subsidiaries of the Registrant.](ea024913201ex21-1_collab.htm) |
| 23.1 | [Consent of DBBMcKennon](ea024913201ex23-1_collab.htm) |
| 23.2\* | Consent of Sichenzia Ross Ference Carmel LLP (included in Exhibit 5.1). |
| 24.1 | [Power of Attorney (included on the signature page of this registration statement)](#d_001) |
| 99.1† | [Executive Compensation Clawback Policy](ea024913201ex99-1_collab.htm) |
| 99.2 | [Audit Committee Charter](ea024913201ex99-2_collab.htm) |
| 99.3 | [Compensation Committee Charter](ea024913201ex99-3_collab.htm) |
| 99.4 | [Nominating and Corporate Governance Committee Charter](ea024913201ex99-4_collab.htm) |
| 99.5 | [Consent of Matthew Gordon (director nominee)](ea024913201ex99-5_collab.htm) |
| 99.6 | [Consent of David Kivitz (director nominee)](ea024913201ex99-6_collab.htm) |
| 99.7 | [Consent of Zhe Zhang (director nominee)](ea024913201ex99-7_collab.htm) |
| 107 | [Filing Fees](ea024913201ex-fee_collab.htm) |

---

\* To be submitted by amendment

† Management
compensatory agreement.

(b) Financial Statement Schedules.

All financial statement schedules are omitted because the information called for is not required or is shown either in the financial statements or in the notes thereto.

**Item 17. Undertakings**

The undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreement, certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery to each purchaser.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

The undersigned registrant hereby undertakes that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) For purposes of determining
 any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this registration statement
 in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h)
 under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.

&nbsp;&nbsp;&nbsp;&nbsp;(2) For purposes of determining
 any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a
 new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be
 deemed to be the initial bona fide offering thereof.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Orinda, on July 21, 2025.

---

| | |
|:---|:---|
| **COLLAB Z INC.** | **COLLAB Z INC.** |
| By: | /s/ *Qiaojun Lai* |
|  | Qiaojun Lai |
|  | Chief Executive Officer |

---

**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Qiaojun Lai, as such person's true and lawful attorneys-in-fact and agent, with full power of substitution and resubstitution, for such person and in such person's name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement and to sign any registration statement for the same offering covered by the Registration Statement that is to be effective upon filing pursuant to Rule 462 promulgated under the Securities Act of 1933, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or such person's substitute or substitutes, may lawfully do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Name** | **Position** | **Date** |
| */s/ Qiaojun Lai* | Chief Executive Officer | July 21, 2025 |
| Qiaojun Lai | (Principal Executive Officer) |  |
| */s/ Jin Kuang* | Chief Financial Officer | July 21, 2025 |
| Jin Kuang | (Principal Financial and Accounting Officer) |  |
| */s/ William J. Caragol* | Chairman | July 21, 2025 |
| William J. Caragol |  |  |
| /s/ *Matt Gordon* |  |  |
| Matt Gordon | Director Nominee | July 21, 2025 |
| /s/ *David Kivitz* |  |  |
| David Kivitz | Independent Director Nominee | July 21, 2025 |
| /s/ *Zhe Zhang* |  |  |
| Zhe Zhang | Independent Director Nominee | July 21, 2025 |

---

## Exhibit 2.1

**Exhibit 2.1**

**REORGANIZATION AGREEMENT AND PLAN OF SHARE EXCHANGE** 

This REORGANIZATION AGREEMENT AND PLAN OF SHARE EXCHANGE (this "**Agreement**"), dated as of December __, 2024, is entered into by and among Collab CA LLC, a California limited liability company ("**Collab LLC**"), Collab Z Inc., a Nevada corporation (the "**Holding Company**"), and the sole member of Collab LLC listed on the Schedule A hereto (the "**Member**"). Each of the Member, Collab LLC and the Holding Company is a "**party**" to this Agreement, and one of more of them are the "**parties**" hereto as the context may require.

**RECITALS:**

A. The Member currently owns membership interest of Collab LLC as listed on <u>Schedule A</u> hereto.

B. Holding Company was formed for the purpose of reorganizing its and its subsidiaries corporate structure.

C. The Member owns 100% membership interest in Collab LLC.

D. The Holding Company is a corporation duly organized under the laws of the State of Nevada, having its principal executive offices in 29 Orinda Way, Unit 2060 Orinda, California 94563. Immediately prior to the Effective Date of the Share Exchange (as such terms are defined below), Holding Company will have authorized two hundred million (200,000,000) shares of common stock, $0.001 par value per share ("**Common Stock**"), and ten million (10,000,000) shares of preferred stock, $0.001 par value per share ("**Preferred Stock**").

E. The Board of Directors of the Holding Company, and Managers of Collab LLC, have each deemed advisable and unanimously recommended and approved by all necessary corporate and limited liability company action, this share exchange transaction among Collab LLC, the Member and the Holding Company (the "**Share Exchange**") and this Agreement in order to establish the holding company structure and the Holding Company and Collab LLC has approved this Agreement and authorized its execution and delivery.

F. The Member, being the holder of one hundred percent (100%) of the membership interests in Collab LLC has unanimously approved the Share Exchange and this Agreement.

G. The parties intend that the Share Exchange shall qualify as a tax-free reorganization under the provisions of Section 368 of the Internal Revenue Code of 1986, as amended.

In consideration of the mutual agreements and premises set forth herein, Collab LLC, the Member and the Holding Company hereby enter into this Agreement and prescribe the terms and conditions of the Share Exchange and the mode of carrying it into effect as follows:

**ARTICLE I**

**TERMS OF THE SHARE EXCHANGE**

**1.1 <u>Share Exchange</u>.** (a) On the Effective Date (as hereinafter defined), one hundred percent (100%) of the membership interests of each of Collab LLC issued and outstanding immediately prior to the Effective Date, as set forth in Schedule A, shall be automatically converted into and exchanged for, without any action on the part of the holder, into a total of [4,550,500] shares of Holding Company Common Stock, pursuant to a statutory share exchange under Nevada law (Nevada Revised Statutes ("**NRS**") Section 92A.110, *et seq*.) and under California law (California Revised Uniform Limited Liability Company Act ("**CLLCA**") § 17710 *et seq*.) and with the effect of NRS Section 92A.250 and of applicable provisions of CLLCA (the "**Share Exchange**"). As a result of the Share Exchange the Member shall receive the number of shares of the Holding Company's Common Stock set forth in <u>Schedule A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of the Effective Date, as a result of the Share Exchange, the Member shall be the holder of the number of shares of Common Stock set forth on <u>Schedule A</u> hereto. Consequently, as a result of the Share Exchange, (i) Holding Company will have an aggregate Five Million (5,000,000) shares of Common Stock issued and outstanding, [4,550,500] of which will be owned by the Member, (ii) the Member will cease to be the sole member of Collab LLC and (iii) the ownership of one hundred percent (100%) of the membership interest in Collab LLC shall automatically vest in Holding Company and Collab LLC will continue in existence as a direct, wholly-owned subsidiary of Holding Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As a result of the Share Exchange, the articles of organization of Collab LLC, except for the admission of the Holding Company as the sole member and the termination of the member interests of the current members, will not be changed and will continue in full force and effect, and the operating agreement of Collab LLC will be amended and restated at the Effective Time to read in its entirety as set forth on <u>Exhibit A</u> hereto, and, as so amended and restated, will be the operating agreement of Collab LLC until thereafter amended as provided by California law and such operating agreement. The articles of incorporation, bylaws, names, offices, corporate identity, and officers and directors of the Holding Company will not be changed as a result of the Share Exchange.

**1.2 <u>Holding Company's Common Stock Certificates</u>.** On the Effective Date, Holding Company shall issue and deliver that number of shares of Common Stock to the Member set forth on <u>Schedule A</u>.

**1.3 <u>Non-Exercise of Dissenters' or Appraisal Rights.</u>** The members of Collab LLC have waived any rights that they may have to the appraisal of their member interests, and by their signatures on this Agreement, hereby voluntarily agree not to ever exercise their dissenters' or appraisal rights as set forth in Article 11 of the CLLCA and, to the fullest extent permitted by applicable law, hereby waive any rights (statutory or otherwise) to dissent from the Share Exchange and seek the appraisal of the fair value of their respective member interests in Collab LLC and to have such fair value paid to them in cash in lieu of the terms of this Agreement. If such waiver is determined to be invalid under California law, then the Holding Company agrees to pay to any members of the acquired entity with dissenters' or appraisal rights the amount to which such members are entitled under the CLLCA.

**1.4 <u>Sole Rights</u>.** On the Effective Date, the Members who held any certificate or book entry that formerly represented membership interests in Collab LLC outstanding on the Effective Date shall cease to have any rights with respect to said membership interests, and their sole rights shall have been ultimately converted by the Share Exchange.

**ARTICLE II**

**TERMINATION**

**2.1 <u>Termination</u>.** This Agreement may be terminated at any time prior to the Effective Date at the election of either Collab LLC on the one hand, or the Holding Company on the other hand, in their sole discretion, by written notice to the other parties. This Agreement may also be terminated at any time prior to the Effective Date by the mutual consent of the respective parties.

**2.2 <u>No Further Obligation</u>.** Upon termination for any reason, this Agreement shall be void and of no further effect, and there shall be no liability by reason of this Agreement or the termination thereof on the part of any of the parties hereto or their respective managers, directors, officers, employees, agents or stockholders.

**ARTICLE III**

**EFFECTIVE DATE OF SHARE EXCHANGE**

Upon satisfaction of the requirements of applicable law, the Share Exchange shall become effective on the date and time shown on the Articles of Exchange accepted for filing by the Secretary of State of the State of Nevada (the "**Effective Date**"). The rights of all parties resulting from the Share Exchange shall be determined as of the Effective Date.

**ARTICLE IV**

**MISCELLANEOUS**

**4.1 <u>Waiver</u>.** Any of the terms or conditions of this Agreement that may legally be waived may be waived in writing at any time by any party which is entitled to the benefit thereof.

**4.2 <u>Amendment</u>.** Any of the terms or conditions of this Agreement may be amended or modified in whole or in part at any time, to the extent permitted by applicable law, by an amendment in writing.

**4.3 <u>Controlling Law</u>.** All questions concerning the validity, operation and interpretation of this Agreement and the performance of the obligations imposed upon the parties hereunder shall be governed by the laws of the State of Nevada, without taking into account provisions regarding choice of law.

**4.4 <u>Costs and Expenses</u>.** Collab LLC shall pay all costs and expenses incurred by them and the Holding Company in connection with this Agreement and the transactions contemplated hereunder.

**4.5 <u>Recitals</u>**. The Recitals shall be incorporated into the body of this Agreement.

**4.6 <u>Severability</u>.** Any provision hereof prohibited by or unlawful or unenforceable under any applicable law or any jurisdiction shall as to such jurisdiction be ineffective, without affecting any other provision of this Agreement, or shall be deemed to be severed or modified to conform with such law, and the remaining provisions of this Agreement shall remain in force; provided that the purpose of the Agreement can be effected. To the fullest extent, however, that the provisions of such applicable law may be waived, they are hereby waived, to the end that this Agreement be deemed to be a valid and binding agreement enforceable in accordance with its terms.

**4.7 <u>Entire Agreement</u>**. This Agreement represents the entire agreement among the parties respecting the transactions contemplated hereby, and all understandings and agreements heretofore made among the parties hereto are merged in this Agreement, which shall be the sole expression of the agreement of the parties respecting the Share Exchange. Each party to this Agreement acknowledges that, in executing and delivering this Agreement, it has relied only on the written representations and promises of the other parties hereto that are contained herein and has not relied on the oral statements of any other party or its representatives.

**4.8 <u>Counterparts</u>.** This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of which shall be deemed to constitute one and the same instrument. Electronic or pdf copies of the whole Agreement shall be deemed to be the same as an original for all purposes.

**4.9 <u>Assignment; Binding on Successors</u>**. This Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and permitted assigns, but shall not be assigned by any party without the prior written consent of the other parties. Nothing contained in this Agreement, express or implied, is intended to confer upon any persons, other than the parties hereto or their respective successors and permitted assigns, any rights, remedies, obligations, or liabilities under or by reason of this Agreement.

**4.10 <u>Nonsurvival</u>.** The representations, covenants and agreements of the parties contained in this Agreement shall terminate on the Effective Date.

**[SIGNATURES APPEAR ON THE NEXT PAGE]**

**IN WITNESS WHEREOF**, the parties hereto have duly executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| **Collab CA LLC** | **Collab CA LLC** |
| By: |  |
|  | Qiaojun Lai |
|  | Manager |
| By: |  |
|  | Edrick Wang |
|  | Manager |
| **Collab Z Inc.** | **Collab Z Inc.** |
| By: |  |
|  | Chief Executive Officer |

---

*[Collab LLC and Holding Company Signature Page]*

 

 

**IN WITNESS WHEREOF**, the sole Member has duly executed this Agreement as of the date first above written.

By:   <br> Name: Yuan Wang <br> Trustee <br> YRQ Irrevocable Trust

*[Member Signature Pages]*

 

 

**<u>SHEDULE A</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Membership Interest of Collab<br> CA LLC Owned as of<br> the Date of Execution of this<br> Agreement** | **Shares of Common Stock of <br> Collab Z Inc. to be Acquired <br> Pursuant to<br> the Exchange Contemplated<br> by this Agreement** | **Shares of Common Stock of <br> Collab Z Inc. to be Acquired <br> Pursuant to<br> the Exchange Contemplated<br> by this Agreement** |
| <br>**#** | <br>**Member/Shareholder** | **Ownership %** | **Shares** | **Ownership %** |
| 1 | YRQ Irrevocable Trust | 100 | [4,550,500] | <u>[\*]</u> |

---

**<u>EXHIBIT A</u>**

**Amended and Restated Operating Agreement of Collab CA LLC**

## Exhibit 3.1

**Exhibit 3.1**

**ARTICLES OF INCORPORATION <br> OF**

**COLLAB Z Inc.**

**A Nevada Corporation**

Collab Z Inc. (the "**Corporation**"), a corporation incorporated under the laws of the state of Nevada, hereby correctly sets forth and consolidates the entire text of the Articles of Incorporation, pursuant to Sections 78.035, 78.037 and 78.045 of the Nevada Revised Statutes.

The Articles of Incorporation of Collab Z Inc. are hereby adopted and set to read as follows.

**<u>ARTICLE I</u>**

**NAME**

The name of the corporation is Collab Z Inc. (the "**Corporation**").

**<u>ARTICLE II</u>**

**RESIDENT AGENT AND REGISTERED OFFICE**

The name of the Corporation's resident agent for service of process is VCORP Services, LLC.

**<u>ARTICLE III</u>**

**CAPITAL STOCK**

3.01 *Authorized Capital Stock*. The total number of shares of stock this Corporation is authorized to issue shall be 200 million (200,000,000) shares, par value $0.001 per share. This stock shall be divided into two classes to be designated as "**Common Stock**" and "**Preferred Stock**".

3.02 *Common Stock*. The total number of authorized shares of Common Stock shall be 190 million (190,000,000).

3.03 *Preferred Stock*. The total number of authorized shares of Preferred Stock shall be 10 million (10,000,000) shares. The board of directors shall have the authority to authorize the issuance of the Preferred Stock from time to time in one or more classes or series, and to state in the resolution or resolutions from time to time adopted providing for the issuance thereof the following:

(a) Whether or not the class or series shall have voting rights, full or limited, the nature and qualifications, limitations and restrictions on those rights, or whether the class or series will be without voting rights;

(b) The number of shares to constitute the class or series and the designation thereof;

(c) The preferences and relative, participating, optional or other special rights, if any, and the qualifications, limitations, or restrictions thereof, if any, with respect to any class or series;

(d) Whether or not the shares of any class or series shall be redeemable and if redeemable, the redemption price or prices, and the time or times at which, and the terms and conditions upon which, such shares shall be redeemable and the manner of redemption;

(e) Whether or not the shares of a class or series shall be subject to the operation of retirement or sinking funds to be applied to the purchase or redemption of such shares for retirement, and if such retirement or

sinking funds be established, the amount and the terms and provisions thereof;

Collab Z Inc. – Articles of Incorporation 1

(f) The dividend rate, whether dividends are payable in cash, stock of the Corporation, or other property, the conditions upon which and the times when such dividends are payable, the preference to or the relation to the payment of dividends payable on any other class or classes or series of stock, whether or not such dividend shall be cumulative or noncumulative, and if cumulative, the date or dates from which such dividends shall accumulate;

(g) The preferences, if any, and the amounts thereof which the holders of any class or series thereof are entitled to receive upon the voluntary or involuntary dissolution of, or upon any distribution of assets of, the Corporation;

(h) Whether or not the shares of any class or series are convertible into, or exchangeable for, the shares of any other class or classes or of any other series of the same or any other class or classes of stock of the Corporation and the conversion price or prices or ratio or ratios or the rate or rates at which such exchange may be made, with such adjustments, if any, as shall be stated and expressed or provided for in such resolution or resolutions; and

(i) Such other rights and provisions with respect to any class or series as may to the board of directors seem advisable.

The shares of each class or series of the Preferred Stock may vary from the shares of any other class or series thereof in any respect. The Board of Directors may increase the number of shares of the Preferred Stock designated for any existing class or series by a resolution adding to such class or series authorized and unissued shares of the Preferred Stock not designated for any existing class or series of the Preferred Stock and the shares so subtracted shall become authorized, unissued and undesignated shares of the Preferred Stock.

**<u>ARTICLE IV</u>**

**DIRECTORS**

*4.01 Number*. The number of directors comprising the board of directors shall be fixed and may be increased or decreased from time to time in the manner provided in the bylaws of the Corporation, except that at no time shall there be less than one director.

**<u>ARTICLE V</u>**

**PURPOSE**

*5.01 Purpose.* The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under Nevada Revised Statutes ("**NRS**").

**<u>ARTICLE VI</u>**

**DIRECTORS' AND OFFICERS' LIABILITY**

 

*6.01 Limitation of Liability.* The individual liability of the directors and officers of the Corporation is hereby eliminated to the fullest extent permitted by the NRS, as the same may be amended and supplemented. Any repeal or modification of this Article by the stockholders of the Corporation shall be prospective only, and shall not adversely affect any limitation on the personal liability of a director or officer of the Corporation for acts or omissions prior to such repeal or modification.

Collab Z Inc. – Articles of Incorporation 2

**<u>ARTICLE VII</u>**

 **INDEMNITY**

 *7.01 Indemnification.* Every person who was or is a party to, or is threatened to be made a party to, or is involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he, or a person of whom he is the legal representative, is or was a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director or officer of another corporation, or as its representative in a partnership, joint venture, trust or other enterprise, shall be indemnified and held harmless to the fullest extent legally permissible under the laws of the State of Nevada from time to time against all expenses, liability and loss (including attorneys' fees, judgments, fines and amounts paid or to be paid in settlement) reasonably incurred or suffered by him in connection therewith. Such right of indemnification shall be a contract right which may be enforced in any manner desired by such person. The expenses of officers and directors incurred in defending a civil or criminal action, suit or proceeding must be paid by the Corporation as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined by a court of competent jurisdiction that he is not entitled to be indemnified by the Corporation. Such right of indemnification shall not be exclusive of any other right which such directors, officers or representatives may have or hereafter acquire, and, without limiting the generality of such statement, they shall be entitled to their respective rights of indemnification under any bylaw, agreement, vote of stockholders, provision of law, or otherwise, as well as their rights under this Article.

 

*7.02 Bylaw Provisions.* Without limiting the application of the foregoing, the board of directors may adopt bylaws from time to time with respect to indemnification, to provide at all times the fullest indemnification permitted by the laws of the State of Nevada, and may cause the Corporation to purchase and maintain insurance on behalf of any person who is or was a director or officer of the Corporation, or is or was serving at the request of the Corporation as director or officer of another corporation, or as its representative in a partnership, joint venture, trust or other enterprises against any liability asserted against such person and incurred in any such capacity or arising out of such status, whether or not the Corporation would have the power to indemnify such person.

 

 *7.03 Continuation.* The indemnification provided in this Article shall continue as to a person who has ceased to be a director, officer, employee or agent, and shall inure to the benefit of the heirs, executors and administrators of such person.

---

| | | | |
|:---|:---|:---|:---|
| Dated: May 9, 2024 | By: | */s/ Qian Wang* | */s/ Qian Wang* |
|  |  | Name: | Qian Wang |
|  |  | Title: | Chief Executive Officer |

---

Collab Z Inc. – Articles of Incorporation 3

## Exhibit 3.2

**Exhibit 3.2**

**BYLAWS OF**

**COLLAB Z INC.**

**(A NEVADA CORPORATION)**

**ARTICLE I**

**OFFICES**

**Section 1. Registered Agent and Offices**. The registered agent of the corporation in the State of Nevada shall be Vcorp Services, LLC 701 S. Carson Street, Suite 200. The principal place of business of the corporation shall be at 29 Orinda Way, #536, Orinda, CA 94563.

**Section 2. Other Offices**. The corporation may also have and maintain an office or principal place of business at such place as may be fixed by the Board of Directors, and may also have offices at such other places, both within and without the State of Nevada, as the Board of Directors may from time to time determine or the business of the corporation may require.

**ARTICLE II**

**CORPORATE SEAL**

**Section 3. Corporate Seal**. The Board of Directors may adopt a corporate seal. Said seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise.

**ARTICLE III**

**STOCKHOLDERS' MEETINGS**

**Section 4. Place of and Time of Meetings.**

&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)** Meetings of the stockholders of the corporation may be held at such place, either within or outside of the State of Nevada, as may be determined from time to time by the Board of Directors. The Board of Directors may, in its sole discretion, determine that the meeting shall not be held at any place, but may instead be held solely by means of remote communication as provided under the Nevada Revised Statutes (the "**Act**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** The annual meeting shall be held on the date and at the time fixed, from time to time, by the directors. A special meeting shall be held on the date and at the time fixed by the directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** Annual meetings and special meetings shall be held at such place, within or without the State of Nevada, as the directors may, from time to time, fix. Whenever the directors shall fail to fix such place, the meeting shall be held at the registered office of the corporation in the State of Nevada. The Board of Directors may also, in its sole discretion, determine that the meeting shall not be held at any place, but may instead be held solely by means of remote communication as authorized by Section 78.320 of the Nevada Private Corporations Law. If a meeting by remote communication is authorized by the Board of Directors in its sole discretion, and subject to guidelines and procedures as the Board of Directors may adopt, stockholders and proxyholders not physically present at a meeting of stockholders may, by means of remote communication participate in a meeting of stockholders and be deemed present in person and vote at a meeting of stockholders whether such meeting is to be held at a designated place or solely by means of remote communication, provided that (a) the corporation shall implement reasonable measures to verify that each person deemed present and permitted to vote at the meeting by means of remote communication is a stockholder or proxyholder, (b) the corporation shall implement reasonable measures to provide such stockholders and proxyholders a reasonable opportunity to participate in the meeting and to vote on matters submitted to the stockholders, including an opportunity to read or hear the proceedings of the meeting substantially concurrently with such proceedings, and (c) if any stockholder or proxyholder votes or takes other action at the meeting by means of remote communication, a record of such vote or other action shall be maintained by the corporation.

**Section 5. Annual Meeting.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** The annual meeting of the stockholders of the corporation, for the purpose of election of directors and for such other business as may lawfully come before it, shall be held on such date and at such time as may be designated from time to time by the Board of Directors. Nominations of persons for election to the Board of Directors of the corporation and the proposal of business to be considered by the stockholders may be made at an annual meeting of stockholders: (i) pursuant to the corporation's notice of meeting of stockholders; (ii) by or at the direction of the Board of Directors; or (iii) by any stockholder of the corporation who was a stockholder of record at the time of giving of notice provided for in the following paragraph, who is entitled to vote at the meeting and who complied with the notice procedures set forth in this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** At an annual meeting of the stockholders, only such business shall be conducted as shall have been properly brought before the meeting. For nominations or other business to be properly brought before an annual meeting by a stockholder pursuant to clause (iii) of paragraph (a) of this Section, (i) the stockholder must have given timely notice thereof in writing to the Secretary of the corporation, (ii) such other business must be a proper matter for stockholder action under the Act and applicable law, (iii) if the stockholder, or the beneficial owner on whose behalf any such proposal or nomination is made, has provided the corporation with a Solicitation Notice (as defined in this paragraph), such stockholder or beneficial owner must, in the case of a proposal, have delivered a proxy statement and form of proxy to holders of at least the percentage of the corporation's voting shares required under applicable law to carry any such proposal, or, in the case of a nomination or nominations, have delivered a proxy statement and form of proxy to holders of a percentage of the corporation's voting shares reasonably believed by such stockholder or beneficial owner to be sufficient to elect the nominee or nominees proposed to be nominated by such stockholder, and must, in either case, have included in such materials the Solicitation Notice, and (iv) if no Solicitation Notice relating thereto has been timely provided pursuant to this Section, the stockholder or beneficial owner proposing such business or nomination must not have solicited a number of proxies sufficient to have required the delivery of such a Solicitation Notice under this Section. To be timely, a stockholder's notice shall be delivered to the Secretary at the principal executive offices of the corporation not later than the close of business on the ninetieth (90<sup>th</sup>) day nor earlier than the close of business on the one hundred twentieth (120<sup>th</sup>) day prior to the first anniversary of the preceding year's annual meeting; *provided, however*, that in the event that the date of the annual meeting is advanced more than thirty (30) days prior to or delayed by more than thirty (30) days after the anniversary of the preceding year's annual meeting, notice by the stockholder to be timely must be so delivered not earlier than the close of business on the one hundred twentieth (120<sup>th</sup>) day prior to such annual meeting and not later than the close of business on the later of the ninetieth (90<sup>th</sup>) day prior to such annual meeting or the tenth (10<sup>th</sup>) day following the day on which public announcement of the date of such meeting is first made. In no event shall the public announcement of an adjournment of an annual meeting commence a new time period for the giving of a stockholder's notice as described above. Such stockholder's notice shall set forth: (A) as to each person whom the stockholder proposed to nominate for election or reelection as a director all information relating to such person that is required to be disclosed in solicitations of proxies for election of directors in an election contest, or is otherwise required, in each case pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended (the "**1934 Act**"), and Rule 14a-4(d) thereunder (including such person's written consent to being named in the proxy statement as a nominee and to serving as a director if elected); (B) as to any other business that the stockholder proposes to bring before the meeting, a brief description of the business desired to be brought before the meeting, the reasons for conducting such business at the meeting and any material interest in such business of such stockholder and the beneficial owner, if any, on whose behalf the proposal is made; and (C) as to the stockholder giving the notice and the beneficial owner, if any, on whose behalf the nomination or proposal is made (i) the name and address of such stockholder, as they appear on the corporation's books, and of such beneficial owner, (ii) the class and number of shares of the corporation that are owned beneficially and of record by such stockholder and such beneficial owner, and (iii) whether either such stockholder or beneficial owner intends to deliver a proxy statement and form of proxy to holders of, in the case of the proposal, at least the percentage of the corporation's voting shares required under applicable law to carry the proposal or, in the case of a nomination or nominations, a sufficient number of holders of the corporation's voting shares to elect such nominee or nominees (an affirmative statement of such intent, a "**Solicitation Notice**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)** Only such persons who are nominated in accordance with the procedures set forth in this Section (or elected or appointed pursuant to Article IV of these Bylaws) shall be eligible to serve as directors and only such business shall be conducted at a meeting of stockholders as shall have been brought before the meeting in accordance with the procedures set forth in this Section. Except as otherwise provided by law, the Chairman of the meeting shall have the power and duty to determine whether a nomination or any business proposed to be brought before the meeting was made, or proposed, as the case may be, in accordance with the procedures set forth in these Bylaws and, if any proposed nomination or business is not in compliance with these Bylaws, to declare that such defective proposal or nomination shall not be presented for stockholder action at the meeting and shall be disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)** Notwithstanding the foregoing provisions of this Section, in order to include information with respect to a stockholder proposal in the proxy statement and form of proxy for a stockholders' meeting, stockholders must provide notice as required by the regulations promulgated under the 1934 Act. Nothing in these Bylaws shall be deemed to affect any rights of stockholders to request inclusion of proposals in the corporation proxy statement pursuant to Rule 14a-8 under the 1934 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f)** For purposes of this Section, "public announcement" shall mean disclosure in a press release reported by the Dow Jones News Service, Associated Press or comparable national news service or in a document publicly filed by the corporation with the Securities and Exchange Commission (the "**SEC**") pursuant to Section 13, 14 or 15(d) of the 1934 Act.

**Section 6. Special Meetings.**

&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)** Special meetings of the stockholders of the corporation may be called, for any purpose or purposes, by (i) the Chairman of the Board of Directors, (ii) the Chief Executive Officer, (iii) the Board of Directors pursuant to a resolution adopted by directors representing a quorum of the Board of Directors or (iv) by the holders of shares entitled to cast not less than 50% of the votes at the meeting, and shall be held at such place, on such date, and at such time as the Board of Directors shall fix.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** If a special meeting is properly called by any person or persons other than the Board of Directors, the request shall be in writing, specifying the general nature of the business proposed to be transacted, and shall be delivered personally or sent by certified or registered mail, return receipt requested, or by telegraphic or other facsimile transmission to the Chairman of the Board of Directors, the Chief Executive Officer, or the Secretary of the corporation. No business may be transacted at such special meeting otherwise than specified in such notice. The Board of Directors shall determine the time and place of such special meeting, which shall be held not less than thirty-five (35) nor more than one hundred twenty (120) days after the date of the receipt of the request. Upon determination of the time and place of the meeting, the officer receiving the request shall cause notice to be given to the stockholders entitled to vote, in accordance with the provisions of Section 7 of these Bylaws. Nothing contained in this paragraph (b) shall be construed as limiting, fixing, or affecting the time when a meeting of stockholders called by action of the Board of Directors may be held.

**Section 7. Notice of Meetings**. Except as otherwise provided by law, notice, given in writing or by electronic transmission, of each meeting of stockholders shall be given not less than ten (10) nor more than sixty (60) days before the date of the meeting to each stockholder entitled to vote at such meeting, such notice to specify the place, if any, date and hour, in the case of special meetings, the purpose or purposes of the meeting, and the means of remote communications, if any, by which stockholders and proxyholders may be deemed to be present in person and vote at any such meeting. If mailed, notice is given when deposited in the United States mail, postage prepaid, directed to the stockholder at such stockholder's address as it appears on the records of the corporation. Notice of the time, place, if any, and purpose of any meeting of stockholders may be waived in writing, signed by the person entitled to notice thereof or by electronic transmission by such person, either before or after such meeting, and will be waived by any stockholder by his or her attendance thereat in person, by remote communication, if applicable, or by proxy, except when the stockholder attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Any stockholder so waiving notice of such meeting shall be bound by the proceedings of any such meeting in all respects as if due notice thereof had been given.

**Section 8. Quorum**. At all meetings of stockholders, except where otherwise provided by statute or by the Articles of Incorporation, or by these Bylaws, the presence, in person, by remote communication, if applicable, or by proxy duly authorized, of the holders of a majority of the outstanding shares of stock entitled to vote shall constitute a quorum for the transaction of business. In the absence of a quorum, any meeting of stockholders may be adjourned, from time to time, either by the chairman of the meeting or by vote of the holders of a majority of the shares represented thereat, but no other business shall be transacted at such meeting. The stockholders present at a duly called or convened a meeting, at which a quorum is present, may continue to transact business until adjournment, notwithstanding the withdrawal of enough stockholders to leave less than a quorum. Except as otherwise provided by statute, or by the Articles of Incorporation or these Bylaws, in all matters other than the election of directors, the affirmative vote of a majority of shares present in person, by remote communication, if applicable, or represented by proxy duly authorized at the meeting and entitled to vote generally on the subject matter shall be the act of the stockholders. Except as otherwise provided by statute, the Articles of Incorporation or these Bylaws, directors shall be elected by a plurality of the votes of the shares present in person, by remote communication, if applicable, or represented by proxy duly authorized at the meeting and entitled to vote generally on the election of directors. Where a separate vote by a class or classes or series is required, except where otherwise provided by the statute or by the Articles of Incorporation or these Bylaws, a majority of the outstanding shares of such class or classes or series, present in person, by remote communication, if applicable, or represented by proxy duly authorized, shall constitute a quorum entitled to take action with respect to that vote on that matter. Except where otherwise provided by statute or by the Articles of Incorporation or these Bylaws, the affirmative vote of the majority (plurality, in the case of the election of directors) of shares of such class or classes or series present in person, by remote communication, if applicable, or represented by proxy at the meeting shall be the act of such class or classes or series.

**Section 9. Adjournment and Notice of Adjourned Meetings**. Any meeting of stockholders, whether annual or special, may be adjourned from time to time either by the chairman of the meeting or by the vote of a majority of the shares present in person, by remote communication, if applicable, or represented by proxy. When a meeting is adjourned to another time or place, if any, notice need not be given of the adjourned meeting if the time and place, if any, thereof are announced at the meeting at which the adjournment is taken. At the adjourned meeting, the corporation may transact any business, which might have been transacted at the original meeting pursuant to the Articles of Incorporation, these Bylaws or applicable law. If the adjournment is for more than thirty (30) days or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting.

**Section 10. Voting Rights**. For the purpose of determining those stockholders entitled to vote at any meeting of the stockholders, except as otherwise provided by law, only persons in whose names shares stand on the stock records of the corporation on the record date, as provided in Section 12 of these Bylaws, shall be entitled to vote at any meeting of stockholders. Every person entitled to vote or execute consents shall have the right to do so in person, either by remote communication, if applicable, or by an agent or agents authorized by a proxy granted in accordance with Nevada law. An agent so appointed need not be a stockholder. No proxy shall be voted after three (3) years from its date of creation unless the proxy provides for a longer period.

**Section 11. Joint Owners of Stock**. If shares or other securities having voting power stand of record in the names of two (2) or more persons, whether fiduciaries, members of a partnership, joint tenants, tenants in common, tenants by the entirety, or otherwise, or if two (2) or more persons have the same fiduciary relationship respecting the same shares, unless the Secretary is given written notice to the contrary and is furnished with a copy of the instrument or order appointing them or creating the relationship wherein it is so provided, their acts with respect to voting (including giving consent pursuant to Section 13) shall have the following effect: (a) if only one (1) votes, his or her act binds all; (b) if more than one (1) votes, the act of the majority so voting binds all; (c) if more than one (1) votes, but the vote is evenly split on any particular matter, each faction may vote the securities in question proportionally, or may apply to the Nevada Circuit Court for relief as provided in the Act. If the instrument filed with the Secretary shows that any such tenancy is held in unequal interests, a majority or even-split for the purpose of subsection (c) shall be a majority or even-split in interest.

**Section 12. List of Stockholders**. The Secretary shall prepare and make, at least ten (10) days before every meeting of stockholders, a complete list of the stockholders entitled to vote at said meeting, arranged in alphabetical order, showing the address of each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting, on a reasonably accessible electronic network, provided that the information required to gain access to such list is provided with the notice of the meeting, or during ordinary business hours, at the principal place of business of the corporation. In the event that the corporation determines to make the list available on an electronic network, the corporation may take reasonable steps to ensure that such information is available only to stockholders of the corporation. The list shall be open to examination of any stockholder during the time of the meeting as provided by law.

**Section 13. Action Without Meeting.**

&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)** Unless otherwise provided in the Articles of Incorporation, any action required by statute to be taken at any annual or special meeting of the stockholders, or any action which may be taken at any annual or special meeting of the stockholders, may be taken without a meeting, without prior notice and without a vote, if a consent in writing, or by electronic transmission setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** Every written consent or electronic transmission shall bear the date of signature of each stockholder who signs the consent, and no written consent or electronic transmission shall be effective to take the corporate action referred to therein unless, within sixty (60) days of the earliest dated consent delivered to the corporation in the manner herein required, written consents or electronic transmissions signed by a sufficient number of stockholders to take action are delivered to the corporation by delivery to its registered office in the State of Nevada, its principal place of business or an officer or agent of the corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to a corporation's registered office shall be by hand or by certified or registered mail, return receipt requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** In no instance where the action is authorized by written consent need a meeting of stockholders be called or notice given.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)** An electronic mail, facsimile or other electronic transmission consenting to an action to be taken and transmitted by a stockholder or proxyholder, shall be deemed to be written, signed and dated for the purposes of this Section, provided that any such electronic mail, facsimile or other electronic transmission sets forth or is delivered with information from which the corporation can determine (i) that the electronic mail, facsimile or other electronic transmission was transmitted by the stockholder or proxyholder or by a person or persons authorized to act for the stockholder and (ii) the date on which such stockholder or proxyholder or authorized person or persons transmitted such electronic mail, facsimile or electronic transmission. The date on which such electronic mail, facsimile or electronic transmission is transmitted shall be deemed to be the date on which such consent was signed. No consent given by electronic mail, facsimile or other electronic transmission shall be deemed to have been delivered until such consent is reproduced in paper form and until such paper form shall be delivered to the corporation by delivery to its registered office in the state of Nevada, its principal place of business or an officer or agent of the corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to a corporation's registered office shall be made by hand or by certified or registered mail, return receipt requested. Notwithstanding the foregoing limitations on delivery, consents given by electronic mail, facsimile or other electronic transmission may be otherwise delivered to the principal place of business of the corporation or to an officer or agent of the corporation having custody of the book in which proceedings of meetings of stockholders are recorded if, to the extent and in the manner provided by resolution of the board of directors of the corporation. Any copy, facsimile or other reliable reproduction of a consent in writing may be substituted or used in lieu of the original writing for any and all purposes for which the original writing could be used, provided that such copy, facsimile or other reproduction shall be a complete reproduction of the entire original writing.

**Section 14. Organization.**

&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)** At every meeting of stockholders, the Chairman of the Board of Directors, or, if a Chairman has not been appointed or is absent, the Chief Executive Officer, or, if the Chief Executive Officer is absent, a chairman of the meeting chosen by a majority in interest of the stockholders entitled to vote, present in person or by proxy, shall act as chairman. The Secretary, or, in his or her absence, an Assistant Secretary directed to do so by the Chief Executive Officer, shall act as secretary of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** The Board of Directors shall be entitled to make such rules or regulations for the conduct of meetings of stockholders as it shall deem necessary, appropriate or convenient. Subject to such rules and regulations of the Board of Directors, if any, the chairman of the meeting shall have the right and authority to prescribe such rules, regulations, and procedures and to do all such acts as, in the judgment of such chairman, are necessary, appropriate or convenient for the proper conduct of the meeting, including, without limitation, establishing an agenda or order of business for the meeting, rules and procedures for maintaining order at the meeting and the safety of those present, limitations on participation in such meeting to stockholders of record of the corporation and their duly authorized and constituted proxies and such other persons as the chairman shall permit, restrictions on entry to the meeting after the time fixed for the commencement thereof, limitations on the time allotted to questions or comments by participants and regulation of the opening and closing of the polls for balloting on matters which are to be voted on by ballot. The date and time of the opening and closing of the polls for each matter upon which the stockholders will vote at the meeting shall be announced at the meeting. Unless and to the extent determined by the Board of Directors or the chairman of the meeting, meetings of stockholders shall not be required to be held in accordance with rules of parliamentary procedure.

**ARTICLE IV**

**DIRECTORS**

**Section 15. Number and Term of Office**. The authorized number of directors of the corporation shall be fixed by the Board of Directors from time to time. Directors need not be stockholders unless so required by the Articles of Incorporation. If for any cause, the directors shall not have been elected at an annual meeting, they may be elected as soon thereafter as convenient.

**Section 16. Powers**. The business and affairs of the corporation shall be managed by or under the direction of the Board of Directors, except as may be otherwise provided by statute or by the Articles of Incorporation. The Board of Directors of the Corporation is entitled to determine the voting powers and the designations (including the right and power to designate), preferences and other special rights, and the qualifications, limitations or restrictions in respect of each class or series of preferred stock of the Corporation.

**Section 17. Term of Directors.**

&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)** Directors shall be elected at each annual meeting of stockholders to serve until the next annual meeting of stockholders and his or her successor is duly elected and qualified or until his or her death, resignation or removal. No decrease in the number of directors constituting the Board of Directors shall shorten the term of any incumbent director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** No person entitled to vote at an election for directors may cumulate votes to which such person is entitled.

**Section 18. Vacancies.**

Unless otherwise provided in the Articles of Incorporation, any vacancies on the Board of Directors resulting from death, resignation, disqualification, removal or other causes and any newly created directorships resulting from any increase in the number of directors shall, unless the Board of Directors determines by resolution that any such vacancies or newly created directorships shall be filled by stockholders, be filled only by the affirmative vote of a majority of the directors then in office, even though less than a quorum of the Board of Directors, or by a sole remaining director; *provided, however*, that whenever the holders of any class or classes of stock or series thereof are entitled to elect one or more directors by the provisions of the Articles of Incorporation, vacancies and newly created directorships of such class or classes or series shall, unless the Board of Directors determines by resolution that any such vacancies or newly created directorships shall be filled by stockholders, be filled by a majority of the directors elected by such class or classes or series thereof then in office, or by a sole remaining director so elected. Any director elected in accordance with the preceding sentence shall hold office for the remainder of the full term of the director for which the vacancy was created or occurred and until such director's successor shall have been elected and qualified. A vacancy in the Board of Directors shall be deemed to exist under this Bylaw in the case of the death, removal or resignation of any director.

**Section 19. Resignation**. Any director may resign at any time by delivering his or her notice in writing or by electronic transmission to the Secretary, such resignation to specify whether it will be effective at a particular time, upon receipt by the Secretary or at the pleasure of the Board of Directors. If no such specification is made, it shall be deemed effective at the pleasure of the Board of Directors. When one or more directors shall resign from the Board of Directors, effective at a future date, a majority of the directors then in office, including those who have so resigned, shall have power to fill such vacancy or vacancies, the vote thereon to take effect when such resignation or resignations shall become effective, and each Director so chosen shall hold office for the unexpired portion of the term of the Director whose place shall be vacated and until his successor shall have been duly elected and qualified.

**Section 20. Removal.**

Subject to any limitations imposed by applicable law, the Board of Directors or any director may be removed from office at any time with or without cause by the affirmative vote of the holders of a majority of the voting power of all then-outstanding shares of capital stock of the corporation entitled to vote generally at an election of directors.

**Section 21. Meetings**

&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) Regular Meetings**. Unless otherwise restricted by the Articles of Incorporation, regular meetings of the Board of Directors may be held at any time or date and at any place within or without the State of Nevada which has been designated by the Board of Directors and publicized among all directors, either orally or in writing, including a voice-messaging system or other system designated to record and communicate messages, facsimile, or by electronic mail or other electronic means. No further notice shall be required for a regular meeting of the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Special Meetings**. Unless otherwise restricted by the Articles of Incorporation, special meetings of the Board of Directors may be held at any time and place within or without the State of Nevada whenever called by the Chairman of the Board, the Chief Executive Officer (if a director), the President (if a director) or any director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Meetings by Electronic Communications Equipment**. Any member of the Board of Directors, or of any committee thereof, may participate in a meeting by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and participation in a meeting by such means shall constitute presence in person at such meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Notice of Special Meetings**. Notice of the time and place of all special meetings of the Board of Directors shall be orally or in writing, by telephone, including a voice messaging system or other system or technology designed to record and communicate messages, facsimile, telegraph or telex, or by electronic mail or other electronic means, during normal business hours, at least twenty-four (24) hours before the date and time of the meeting. If notice is sent by US mail, it shall be sent by first class mail, postage prepaid at least three (3) days before the date of the meeting. Notice of any meeting may be waived in writing or by electronic transmission at any time before or after the meeting and will be waived by any director by attendance thereat, except when the director attends the meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) Waiver of Notice**. The transaction of all business at any meeting of the Board of Directors, or any committee thereof, however called or noticed, or wherever held, shall be as valid as though had at a meeting duly held after regular call and notice, if a quorum be present and if, either before or after the meeting, each of the directors not present who did not receive notice shall sign a written waiver of notice or shall waive notice by electronic transmission. All such waivers shall be filed with the corporate records or made a part of the minutes of the meeting.

**Section 22. Quorum and Voting.**

&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)** Unless the Articles of Incorporation requires a greater number, a quorum of the Board of Directors shall consist of a majority of the total number of directors then serving; *provided, however*, that such number shall never be less than one-third (1/3) of the total number of directors except that when one director is authorized, then one director shall constitute a quorum. At any meeting, whether a quorum be present or otherwise, a majority of the directors present may adjourn from time to time until the time fixed for the next regular meeting of the Board of Directors, without notice other than by announcement at the meeting. If the Articles of Incorporation provides that one or more directors shall have more or less than one vote per director on any matter, every reference in this Section to a majority or other proportion of the directors shall refer to a majority or other proportion of the votes of the directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** At each meeting of the Board of Directors at which a quorum is present, all questions and business shall be determined by the affirmative vote of a majority of the directors present, unless a different vote be required by law, the Articles of Incorporation or these Bylaws.

**Section 23. Action without Meeting**. Unless otherwise restricted by the Articles of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting, if all members of the Board of Directors or committee, as the case may be, consent thereto in writing or by electronic transmission, and such writing or writings or transmission or transmissions are filed with the minutes of proceedings of the Board of Directors or committee. Such filing shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form.

**Section 24. Fees and Compensation**. Directors shall be entitled to such compensation for their services as may be approved by the Board of Directors, including, if so approved, by resolution of the Board of Directors, a fixed sum and expenses of attendance, if any, for attendance at each regular or special meeting of the Board of Directors and at any meeting of a committee of the Board of Directors. Nothing herein contained shall be construed to preclude any director from serving the corporation in any other capacity as an officer, agent, employee, or otherwise and receiving compensation therefor.

**Section 25. Committees.**

&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) Executive Committee**. The Board of Directors may appoint an Executive Committee to consist of one (1) or more members of the Board of Directors. The Executive Committee, to the extent permitted by law and provided in the resolution of the Board of Directors, shall have and may exercise all the powers and authority of the Board of Directors in the management of the business and affairs of the corporation, and may authorize the seal of the corporation to be affixed to all papers which may require it; but no such committee shall have the power or authority in reference to (i) approving or adopting, or recommending to the stockholders, any action or matter expressly required by the Act to be submitted to stockholders for approval, or (ii) adopting, amending or repealing any bylaw of the corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Other Committees**. The Board of Directors may, from time to time, appoint such other committees as may be permitted by law. Such other committees appointed by the Board of Directors shall consist of one (1) or more members of the Board of Directors and shall have such powers and perform such duties as may be prescribed by the resolution or resolutions creating such committees, but in no event shall any such committee have the powers denied to the Executive Committee in these Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Meetings**. Unless the Board of Directors shall otherwise provide, regular meetings of the Executive Committee or any other committee appointed pursuant to this Section shall be held at such times and places as are determined by the Board of Directors, or by any such committee, and when notice thereof has been given to each member of such committee, no further notice of such regular meetings need be given thereafter. Special meetings of any such committee may be held at any place which has been determined from time to time by such committee, and may be called by any director who is a member of such committee, upon notice to the members of such committee of the time and place of such special meeting given in the manner provided for the giving of notice to members of the Board of Directors of the time and place of special meetings of the Board of Directors. Notice of any special meeting of any committee may be waived in writing at any time before or after the meeting and will be waived by any director by attendance thereat, except when the director attends such special meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Unless otherwise provided by the Board of Directors in the resolutions authorizing the creation of the committee, a majority of the authorized number of members of any such committee shall constitute a quorum for the transaction of business, and the act of a majority of those present at any meeting at which a quorum is present shall be the act of such committee.

**Section 26. Organization**. At every meeting of the directors, the Chairman of the Board of Directors, or, if a Chairman has not been appointed or is absent, the Chief Executive Officer (if a director), or if the Chief Executive Officer is not a director or is absent, the President (if a director), or if the President is not a director or is absent, the most senior Vice President (if a director) or, in the absence of any such person, a chairman of the meeting chosen by a majority of the directors present, shall preside over the meeting. The Secretary, or in his or her absence, any Assistant Secretary directed to do so by the Chief Executive Officer or President, shall act as secretary of the meeting.

**ARTICLE V**

**OFFICERS**

**Section 27. Officers Designated**. The officers of the corporation shall include, if and when designated by the Board of Directors, the Chief Executive Officer, the President, the Secretary, and the Chief Financial Officer, all of whom shall be elected at the annual organizational meeting of the Board of Directors. The Board of Directors may also appoint the Treasurer, the Controller, one or more Vice Presidents; one or more Assistant Secretaries, Assistant Treasurers, Assistant Controllers and such other officers and agents with such powers and duties as it shall deem necessary. The Board of Directors may assign such additional titles to one or more of the officers, as it shall deem appropriate. Any one person may hold any number of offices of the corporation at any one time unless specifically prohibited therefrom by law. The salaries and other compensation of the officers of the corporation shall be fixed by or in the manner designated by the Board of Directors.

**Section 28. Tenure and Duties of Officers.**

&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) General**. All officers shall hold office at the pleasure of the Board of Directors and until their successors shall have been duly elected and qualified, unless sooner removed. Any officer elected or appointed by the Board of Directors may be removed at any time by the Board of Directors. If the office of any officer becomes vacant for any reason, the vacancy may be filled by the Board of Directors, or by the Chief Executive Officer or other officer if so authorized by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Duties of Chairman of the Board of Directors**. The Chairman of the Board of Directors, when present, shall preside at all meetings of the stockholders and the Board of Directors. The Chairman of the Board of Directors shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers, as the Board of Directors shall designate from time to time. If there is no Chief Executive Officer and no President, then the Chairman of the Board of Directors shall also serve as the Chief Executive Officer of the corporation and shall have the powers and duties prescribed in paragraph (c) of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Duties of Chief Executive Officer**. The Chief Executive Officer shall preside at all meetings of the stockholders and (if a director) at all meetings of the Board of Directors, unless the Chairman of the Board of Directors has been appointed and is present. The Chief Executive Officer shall be the chief executive officer of the corporation and shall, subject to the control of the Board of Directors, have general supervision, direction and control of the business and officers of the corporation. The Chief Executive Officer shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors shall designate from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Duties of President**. In the absence or disability of the Chief Executive Officer or if the office of Chief Executive Officer is vacant, the President shall preside at all meetings of the stockholders and (if a director) at all meetings of the Board of Directors, unless the Chairman of the Board of Directors has been appointed and is present. If the office of Chief Executive Officer is vacant, the President shall be the chief executive officer of the corporation and shall, subject to the control of the Board of Directors, have general supervision, direction and control of the business and officers of the corporation. The President shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors shall designate from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) Duties of Vice Presidents**. The Vice Presidents may assume and perform the duties of the President in the absence or disability of the President or whenever the office of President is vacant. The Vice Presidents shall perform other duties commonly incident to their office and shall also perform such other duties and have such other powers as the Board of Directors or the President shall designate from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) Duties of Secretary**. The Secretary shall attend all meetings of the stockholders and of the Board of Directors and shall record all acts and proceedings thereof in the minute book of the corporation. The Secretary shall give notice in conformity with these Bylaws of all meetings of the stockholders and of all meetings of the Board of Directors and any committee thereof requiring notice. The Secretary shall perform all other duties provided for in these Bylaws and other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors shall designate from time to time. The Chief Executive Officer may direct any Assistant Secretary to assume and perform the duties of the Secretary in the absence or disability of the Secretary, and each Assistant Secretary shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors or the Chief Executive Officer shall designate from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) Duties of Chief Financial Officer**. The Chief Financial Officer shall keep or cause to be kept the books of account of the corporation in a thorough and proper manner and shall render statements of the financial affairs of the corporation in such form and as often as required by the Board of Directors or the Chief Executive Officer. The Chief Financial Officer, subject to the order of the Board of Directors, shall have the custody of all funds and securities of the corporation. The Chief Financial Officer shall perform other duties commonly incident to his or her office and shall also perform such other duties and have such other powers as the Board of Directors or the Chief Executive Officer shall designate from time to time. The Chief Executive Officer may direct the Treasurer or any Assistant Treasurer, or the Controller or any Assistant Controller to assume and perform the duties of the Chief Financial Officer in the absence or disability of the Chief Financial Officer, and each Treasurer and Assistant Treasurer and each Controller and Assistant Controller shall perform other duties commonly incident to the office and shall also perform such other duties and have such other powers as the Board of Directors or the Chief Executive Officer shall designate from time to time.

**Section 29. Delegation of Authority**. The Board of Directors may from time to time delegate the powers or duties of any officer to any other officer or agent, notwithstanding any provision hereof.

**Section 30. Resignations**. Any officer may resign at any time by giving notice in writing or by electronic transmission notice to the Board of Directors or to the Chief Executive Officer or to the President or to the Secretary. Any such resignation shall be effective when received by the person or persons to whom such notice is given, unless a later time is specified therein, in which event the resignation shall become effective at such later time. Unless otherwise specified in such notice, the acceptance of any such resignation shall not be necessary to make it effective. Any resignation shall be without prejudice to the rights, if any, of the corporation under any contract with the resigning officer.

**Section 31. Removal**. Any officer may be removed from office at any time, either with or without cause, by the affirmative vote of a majority of the directors in office at the time, or by the unanimous written or electronic consent of the directors in office at the time, or by any committee or superior officers upon whom such power of removal may have been conferred by the Board of Directors.

**ARTICLE VI**

**EXECUTION OF CORPORATE INSTRUMENTS AND VOTING OF SECURITIES OWNED BY THE CORPORATION**

**Section 32. Execution of Corporate Instruments**. The Board of Directors may, in its discretion, determine the method and designate the signatory officer or officers, or other person or persons, to execute on behalf of the corporation any corporate instrument or document, or to sign on behalf of the corporation the corporate name, or to enter into contracts on behalf of the corporation, except where otherwise provided by law or these Bylaws, and such execution or signature shall be binding upon the corporation. All checks and drafts drawn on banks or other depositaries of funds to the credit of the corporation or on special accounts of the corporation shall be signed by such person or persons, as the Board of Directors shall authorize so to do. Unless authorized or ratified by the Board of Directors or within the agency power of an officer, no officer, agent or employee shall have any power or authority to bind the corporation by any contract or engagement or to pledge its credit or to render it liable for any purpose or for any amount.

**Section 33. Voting of Securities Owned by the Corporation**. All stock and other securities of other corporations owned or held by the corporation for itself, or for other parties in any capacity, shall be voted, and all proxies with respect thereto shall be executed, by the person authorized so to do by resolution of the Board of Directors, or, in the absence of such authorization, by the Chairman of the Board of Directors, the Chief Executive Officer, the President, or any Vice President.

**ARTICLE VII**

**SHARES OF STOCK**

**Section 34. Form and Execution of Certificates**. The shares of the corporation shall be represented by certificates, or shall be uncertificated. Certificates for the shares of stock, if any, of the corporation shall be in such form as is consistent with the Articles of Incorporation and applicable law. Every holder of shares of stock in the corporation represented by certificate shall be entitled to have a certificate signed by or in the name of the corporation by any two authorized officers, including but not limited to the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer or Assistant Treasurer or the Secretary or Assistant Secretary, certifying the number of shares owned by him or her in the corporation. Any or all of the signatures on the certificate may be facsimiles. In case any officer, transfer agent, or registrar who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent, or registrar before such certificate is issued, it may be issued with the same effect as if he or she were such officer, transfer agent, or registrar at the date of issue.

**Section 35. Lost Certificates**. A new certificate or certificates shall be issued in place of any certificate or certificates theretofore issued by the corporation alleged to have been lost, stolen, or destroyed, upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost, stolen, or destroyed. The corporation may require, as a condition precedent to the issuance of a new certificate or certificates, the owner of such lost, stolen, or destroyed certificate or certificates, or the owner's legal representative, to agree to indemnify the corporation in such manner as it shall require or to give the corporation a surety bond in such form and amount as it may direct as indemnity against any claim that may be made against the corporation with respect to the certificate alleged to have been lost, stolen, or destroyed.

**Section 36. Restrictions on Transfer.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** The corporation shall have power to enter into and perform any agreement with any number of stockholders of any one or more classes of stock of the corporation to restrict the sale, transfer, assignment, pledge, or other disposal of or encumbering of any of the shares of stock of the corporation or any right or interest therein, whether voluntarily or by operation of law, or by gift or otherwise (each, a "**Transfer**") of shares of stock of the corporation of any one or more classes owned by such stockholders in any manner not prohibited by the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** Transfers of record of shares of stock of the corporation shall be made only upon its books by the holders thereof, in person or by attorney duly authorized, and, in the case of stock represented by a certificate, upon the surrender of a properly endorsed certificate or certificates for a like number of shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** If the stockholder desires to sell or otherwise Transfer any of his or her shares of stock, then the stockholder shall first give written notice thereof to the corporation. The notice shall name the proposed transferee and state the number of shares to be transferred, the proposed consideration, and all other terms and conditions of the proposed Transfer.

**Section 37. Fixing Record Dates.**

&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)** In order that the corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, the Board of Directors may fix, in advance, a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors, and which record date shall, subject to applicable law, not be more than sixty (60) nor less than ten (10) days before the date of such meeting. If no record date is fixed by the Board of Directors, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day immediately preceding the day on which notice is given, or if notice is waived, at the close of business on the day immediately preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; *provided, however,* that the Board of Directors may fix a new record date for the adjourned meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** In order that the corporation may determine the stockholders entitled to consent to corporate action in writing without a meeting, the Board of Directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors, and which date shall not be more than ten (10) days after the date upon which the resolution fixing the record date is adopted by the Board of Directors. Any stockholder of record seeking to have the stockholders authorize or take corporate action by written consent shall, by written notice to the Secretary, request the Board of Directors to fix a record date. The Board of Directors shall promptly, but in all events within ten (10) days after the date, on which such a request is received, adopt a resolution fixing the record date. If no record date has been fixed by the Board of Directors within ten (10) days of the date on which such a request is received, the record date for determining stockholders entitled to consent to corporate action in writing without a meeting, when no prior action by the Board of Directors is required by applicable law, shall be the first date on which a signed written consent setting forth the action taken or proposed to be taken is delivered to the corporation by delivery to its registered office in the State of Nevada, its principal place of business or an officer or agent of the corporation having custody of the book in which proceedings of meetings of stockholders are recorded. Delivery made to the corporation's registered office shall be by hand or by certified or registered mail, return receipt requested. If no record date has been fixed by the Board of Directors and prior action by the Board of Directors is required by law, the record date for determining stockholders entitled to consent to corporate action in writing without a meeting shall be at the close of business on the day on which the Board of Directors adopts the resolution taking such prior action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** In order that the corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment of any rights or the stockholders entitled to exercise any rights in respect of any change, conversion or exchange of stock, or for the purpose of any other lawful action, the Board of Directors may fix, in advance, a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall be not more than sixty (60) days prior to such action. If no record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of business on the day on which the Board of Directors adopts the resolution relating thereto.

**Section 38. Registered Stockholders**. The corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends, and to vote as such owner, and shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of any other person whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of Nevada.

**ARTICLE VIII**

**FISCAL YEAR**

**Section 39. Fiscal Year**. The fiscal year of the corporation shall be fixed by resolution of the Board of Directors.

**ARTICLE IX**

**INDEMNIFICATION**

**Section 40. Indemnification of Directors, Executive Officers, Employees, and Other **Agents**.**

&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) Directors and Executive Officers**. The corporation shall indemnify its directorsa nd executive officers (for the purposes of this Article, "executive officers" shall have the meaning defined in Rule 3b-7 promulgated under the 1934 Act) to the fullest extent not prohibited by the Act or any other applicable law; *provided, however,* that the corporation may modify the extent of such indemnification by individual contracts with its directors and executive officers; and, *provided, further,* that the corporation shall not be required to indemnify any director or executive officer in connection with any proceeding (or part thereof) initiated by such person unless (i) such indemnification is expressly required to be made by law, (ii) the proceeding was authorized by the Board of Directors of the corporation, (iii) such indemnification is provided by the corporation, in its sole discretion, pursuant to the powers vested in the corporation under the Act or any other applicable law or (iv) such indemnification is required to be made under paragraph (d) of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Other Officers, Employees and Other Agents**. The corporation shall have power to indemnify its other officers, employees and other agents as set forth in the Act or any other applicable law. The Board of Directors shall have the power to delegate the determination of whether indemnification shall be given to any such person except executive officers to such officers or other persons as the Board of Directors shall determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Expenses**. The corporation shall advance to any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such person is or was a director or executive officer of the corporation, or is or was serving at the request of the corporation as a director or executive officer of another corporation, partnership, joint venture, trust or other enterprise, prior to the final disposition of the proceeding, promptly following request therefor, all expenses incurred by any director or executive officer in connection with such proceeding; *provided, however*, that, if the Act requires, an advancement of expenses incurred by a director or officer in his or her capacity as a director or officer (and not in any other capacity in which service was or is rendered by such indemnitee, including, without limitation, service to an employee benefit plan) shall be made only upon delivery to the corporation of an undertaking, by or on behalf of such indemnitee, to repay all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal that such indemnitee is not entitled to be indemnified for such expenses under this Section or otherwise.

Notwithstanding the foregoing, unless otherwise determined pursuant to paragraph (e) of this Section, no advance shall be made by the corporation to an executive officer of the corporation (except by reason of the fact that such executive officer is or was a director of the corporation, in which event this paragraph shall not apply) in any action, suit or proceeding, whether civil, criminal, administrative or investigative, if a determination is reasonably and promptly made (i) by a majority vote of a quorum consisting of directors who were not parties to the proceeding, even if not a quorum, or (ii) by a committee of such directors designated by a majority of such directors, even though less than a quorum, or (iii) if there are no such directors, or such directors so direct, by independent legal counsel in a written opinion, that the facts known to the decision-making party at the time such determination is made demonstrate clearly and convincingly that such person acted in bad faith or in a manner that such person did not believe to be in or not opposed to the best interests of the corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Enforcement**. Without the necessity of entering into an express contract, all rights to indemnification and advances to directors and executive officers under this Section shall be deemed to be contractual rights and be effective to the same extent and as if provided for in a contract between the corporation and the director or executive officer. Any right to indemnification or advances granted by this Section to a director or executive officer or officer shall be enforceable by or on behalf of the person holding such right in any court of competent jurisdiction if (i) the claim for indemnification or advances is denied, in whole or in part, or (ii) no disposition of such claim is made within ninety (90) days of request therefor. The claimant in such enforcement action, if successful in whole or in part, shall be entitled to be paid also the expense of prosecuting the claim. In connection with any claim for indemnification, the corporation shall be entitled to raise as a defense to any such action that the claimant has not met the standards of conduct that make it permissible under the Act or any other applicable law for the corporation to indemnify the claimant for the amount claimed. In connection with any claim by an executive officer of the corporation (except in any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such executive officer is or was a director of the corporation) for advances, the corporation shall be entitled to raise as a defense as to any such action clear and convincing evidence that such person acted in bad faith or in a manner that such person did not believe to be in or not opposed to the best interests of the corporation, or with respect to any criminal action or proceeding that such person acted without reasonable cause to believe that his or her conduct was lawful. Neither the failure of the corporation (including its Board of Directors, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in the circumstances because he has met the applicable standard of conduct set forth in the Act or any other applicable law, nor an actual determination by the corporation (including its Board of Directors, independent legal counsel or its stockholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that claimant has not met the applicable standard of conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) Non-Exclusivity of Rights**. The rights conferred on any person by this Section shall not be exclusive of any other right which such person may have or hereafter acquire under any applicable statute, provision of the Articles of Incorporation, Bylaws, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in his or her official capacity and as to action in another capacity while holding office. The corporation is specifically authorized to enter into individual contracts with any or all of its directors, officers, employees or agents respecting indemnification and advances, to the fullest extent not prohibited by the Act or any other applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) Survival of Rights**. The rights conferred on any person by this Section shall continue as to a person who has ceased to be a director or executive officer and shall inure to the benefit of the heirs, executors, and administrators of such a person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g) Insurance**. To the fullest extent permitted by the Act, or any other applicable law, the corporation, upon approval by the Board of Directors, may purchase insurance on behalf of any person required or permitted to be indemnified pursuant to this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(h) Amendments**. Any repeal or modification of this Section shall only be prospective and shall not affect the rights under this Bylaw in effect at the time of the alleged occurrence of any action or omission to act that is the cause of any proceeding against any agent of the corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(i) Saving Clause**. If this Section or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the corporation shall nevertheless indemnify each director and executive officer to the full extent not prohibited by any applicable portion of this Bylaw that shall not have been invalidated, or by any other applicable law. If this Section shall be invalid due to the application of the indemnification provisions of another jurisdiction, then the corporation shall indemnify each director and executive officer to the full extent under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(j) Certain Definitions**. For the purposes of this Section, the following definitions shall apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(1)** The term "proceeding" shall be broadly construed and shall include,

without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)** The term "expenses" shall be broadly construed and shall include, without limitation, court costs, attorneys' fees, witness fees, fines, amounts paid in settlement or judgment and any other costs and expenses of any nature or kind incurred in connection with any proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(3)** The term the "corporation" shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under the provisions of this Section with respect to the resulting or surviving corporation as he would have with respect to such constituent corporation if its separate existence had continued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(4)** References to a "director," "executive officer," "officer," "employee," or "agent" of the corporation shall include, without limitation, situations where such person is serving at the request of the corporation as, respectively, a director, executive officer, officer, employee, trustee or agent of another corporation, partnership, joint venture, trust or other enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(5)** References to "other enterprises" shall include employee benefit plans; references to "fines" shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to "serving at the request of the corporation" shall include any service as a director, officer, employee or agent of the corporation which imposes duties on, or involves services by, such director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries; and a person who acted in good faith and in a manner he reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner "not opposed to the best interests of the corporation" as referred to in this Section.

**ARTICLE X**

**NOTICES**

**Section 41. Notices.**

&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) Notice to Stockholders**. Written notice to stockholders of stockholder meetings shall be given as provided in Section 7 of these Bylaws. Without limiting the manner by which notice may otherwise be given effectively to stockholders under any agreement or contract with such stockholder, and except as otherwise required by law, written notice to stockholders for purposes other than stockholder meetings may be sent by United States mail or nationally recognized overnight courier, or by facsimile, telegraph or telex or by electronic mail or other electronic means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Notice to Directors**. Any notice required to be given to any director may be given by the method stated in paragraph (a) of this Section, or as provided for in Section 21 of these Bylaws. If such notice is not delivered personally, it shall be sent to such address as such director shall have filed in writing with the Secretary, or, in the absence of such filing, to the last known post office address of such director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Affidavit of Mailing**. An affidavit of mailing, executed by a duly authorized and competent employee of the corporation or its transfer agent appointed with respect to the class of stock affected or other agent, specifying the name and address or the names and addresses of the stockholder or stockholders, or director or directors, to whom any such notice or notices was or were given, and the time and method of giving the same, shall in the absence of fraud, be prima facie evidence of the facts therein contained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Methods of Notice**. It shall not be necessary that the same method of giving notice be employed in respect of all recipients of notice, but one permissible method may be employed in respect of any one or more, and any other permissible method or methods may be employed in respect of any other or others.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) Notice to Person with Whom Communication Is Unlawful**. Whenever notice is required to be given, under any provision of law or of the Articles of Incorporation or Bylaws of the corporation, to any person with whom communication is unlawful, the giving of such notice to such person shall not be required and there shall be no duty to apply to any governmental authority or agency for a license or permit to give such notice to such person. Any action or meeting which shall be taken or held without notice to any such person with whom communication is unlawful shall have the same force and effect as if such notice had been duly given. In the event that the action taken by the corporation is such as to require the filing of a certificate under any provision of the Act, the certificate shall state, if such is the fact and if notice is required, that notice was given to all persons entitled to receive notice except such persons with whom communication is unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) Notice to Stockholders Sharing an Address**. Except as otherwise prohibited under the Act, any notice given under the provisions of the Act, the Certificate of Incorporation or the Bylaws shall be effective if given by a single written notice to stockholders who share an address if consented to by the stockholders at that address to whom such notice is given. Such consent shall have been deemed to have been given if such stockholder fails to object in writing to the corporation within 60 days of having been given notice by the corporation of its intention to send the single notice. Any consent shall be revocable by the stockholder by written notice to the corporation.

**ARTICLE XI**

**AMENDMENTS**

**Section 42. Amendments**. The Board of Directors is expressly empowered to adopt, amend or repeal Bylaws of the corporation. The stockholders shall also have power to adopt, amend or repeal the Bylaws of the corporation; *provided, however*, that, in addition to any vote of the holders of any class or

series of stock of the corporation required by law or by the Articles of Incorporation, such action by stockholders shall require the affirmative vote of the holders of a majority of the voting power of all of the then-outstanding shares of the capital stock of the corporation entitled to vote generally in the election of directors, voting together as a single class.

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| | |
|:---|:---|
| **APPROVED AND ADOPTED** on August 30, 2024 | **APPROVED AND ADOPTED** on August 30, 2024 |
| /s/ Qian Wang | /s/ Qian Wang |
| Name: | Qian Wang |

---

**CERTIFICATE BY SECRETARY**

The undersigned hereby certifies that the undersigned is the duly elected, qualified, and acting Secretary of Collab Z Inc., a Nevada corporation, and that the foregoing Bylaws were adopted as the Bylaws of the corporation on August 30, 2024.

Executed as of August 30, 2024

---

| |
|:---|
| */s/ Qian Wang* |
| Qian Wang, Secretary |

---

## Exhibit 3.3

**Exhibit 3.3**

**UNANIMOUS WRITTEN CONSENT**

**OF THE BOARD OF DIRECTORS OF**

**COLLAB Z INC.**

The undersigned, constituting the Board of Directors (the **"Board"**) of Collab Z Inc. (the **"Corporation"**), pursuant to Section 78.1955 of the Nevada Revised Statutes do hereby consent to the adoption of, and hereby approve and adopt, the following resolutions,effective as of August 30, 2024:

**<u>AUTHORIZATION OF SERIES X PREFERRED STOCK</u>**

WHEREAS, the Corporation is proposing issuing YRQ Irrevocable Trust **<u>5,000</u>** shares of the Series X Preferred Stock of the Corporation (the ***"YRQ Irrevocable Trust Series X Preferred Issuance"***);

NOW, THEREFORE, BE IT RESOLVED, that, the YRQ Irrevocable Trust Series X Preferred Issuance shall be adopted, ratified, confirmed, and approved in all respects.

**<u>SERIES X PREFERRED STOCK DESIGNATION</u>**

RESOLVED, that, pursuant to the authority vested in the Board in accordance with the provisions of the Articles of Incorporation of the Corporation, a series (the ***"Series X Preferred Stock"***) of the class of authorized preferred stock, par value $0.001 per share, of the Corporation is hereby created and that the designation and number of shares thereof and the powers, preferences and rights of the shares of such series, and the qualifications, limitations and restrictions thereof are as set forth in the form of Certificate of Designation, attached hereto as **<u>Exhibit A</u>.**

This Action by the members of the Board may be signed in one or more counterparts, each of which shall be deemed an original, and all of which shall constitute one instrument. This Action by members of the Board shall be filed with the minutes of the proceedings of the Board.

IN WITNESS WHEREOF, the undersigned, being all of the directors of the Corporation, consent hereto in writing, and direct that this instrument be filed with the minutes of proceedings of the Board of Directors of the Corporation.

 

---

| | |
|:---|:---|
| */s/ Qian Wang* | */s/ Qian Wang* |
| Name: | Qian Wang |
| Title: | Chairman |

---

**EXHIBIT A**

**CERTIFICATE OF DESIGNATION OF**

**COLLAB Z INC.**

**ESTABLISHING THE DESIGNATIONS, PREFERENCES, LIMITATIONS AND RELATIVE RIGHTS OF ITS SERIES X PREFERRED STOCK**

On behalf of Collab Z Inc., a Nevada corporation (the **"Corporation"**), the undersigned hereby certifies that the following resolution has been duly adopted by the board of directors of the Corporation (the **"Board"**):

**RESOLVED**, that, pursuant to the authority granted to and vested in the Board by the provisions of the articles of incorporation of the Corporation (the **"Articles of Incorporation"**) and the provisions of Section 78.1955 of the Nevada Revised Statutes, there hereby is created, out of the ten million (10,000,000) shares of preferred stock, par value $0.001 per share, of the Corporation authorized by the Articles of Incorporation, Series X Preferred Stock, consisting of the five thousand (5,000) shares, which series shall have the following powers, designations, preferences and relative participating, optional and other special rights, and the following qualifications, limitations and restrictions:

**SECTION 1. DESIGNATION OF SERIES.** Of such ten million (10,000,000) shares of Preferred Stock authorized, five thousand (5,000) shares are designated as Series X Preferred Stock (the **"*Series X Preferred Stock"***).

**SECTION 2. DIVIDENDS.** The holders of the Series X Preferred Stock shall not be entitled to receive dividends paid on the Corporation's common stock.

**SECTION 3. LIQUIDATION PREFERENCE.** The holders of the Series X Preferred Stock shall not be entitled to any liquidation preference.

**SECTION 4. VOTING.**

The holders of the Series X Preferred Stock will have the shareholder voting rights as described in this Section 4 or as required by law. For so long as any shares of the Series X Preferred Stock remain issued and outstanding, the holders thereof shall have the right to vote in an amount equal to 1,000 votes per share of Series X Preferred Stock. Except as otherwise required by law or the Articles of Incorporation, in respect of all matters concerning the voting of shares of capital stock of the Corporation, the common stock (and any other class or series of capital stock of the Corporation entitled to vote generally with the common stock) and the Series X Preferred Stock shall vote as a single class and such voting rights shall be identical in all respects.

**SECTION 5. CONVERSION RIGHTS.** The holders of the shares of Series X Preferred Stock shall not have any rights hereunder to convert such shares into, or exchange such shares for, shares of any other series or class of capital stock of the Corporation or of any other person.

**SECTION 6. REDEMPTION RIGHTS.** The shares of the Series X Preferred Stock shall be not be subject to redemption.

**SECTION 7. NOTICES.** Any notice required hereby to be given to the holders of shares of the Series X Preferred Stock shall be deemed given if deposited in the United States mail, postage prepaid, and addressed to each holder of record at his, her or its address appearing on the books of the Corporation.

**SECTION 8. MISCELLANEOUS.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The headings of the various sections and subsections of this Certificate of Designation are for convenience of reference only and shall not affect the interpretation of any of the provisions of this Certificate of Designation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Whenever possible, each provision of this Certificate of Designation shall be interpreted in a manner as to be effective and valid under applicable law and public policy. If any provision set forth herein is held to be invalid, unlawful or incapable of being enforced by reason of any rule of law or public policy, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating or otherwise adversely affecting the remaining provisions of this Certificate of Designation. No provision herein set forth shall be deemed dependent upon any other provision unless so expressed herein. If a court of competent jurisdiction should determine that a provision of this Certificate of Designation would be valid or enforceable if a period of time were extended or shortened, then such court may make such change as shall be necessary to render the provision in question effective and valid under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as may otherwise be required by law, the shares of the Series X Preferred Stock shall not have any powers, designations, preferences or other special rights, other than those specifically set forth in this Certificate of Designation.

**IN WITNESS WHEREOF**, this Certificate of Designation has been executed by a duly authorized officer of the Corporation on August 30, 2024.

---

| |
|:---|
| **COLLAB Z INC.** |
| /s/ Qiaojun Lai |
| Name: Qiaojun Lai |
| Title: CEO |

---

## Exhibit 3.4

**Exhibit 3.4**

**CERTIFICATE OF DESIGNATION OF SERIES B CONVERTIBLE**

**PREFERRED STOCK OF COLLAB Z INC.**

On behalf of Collab Z Inc., a Nevada corporation (the "**Corporation**"), the undersigned hereby certifies that the following resolution has been duly adopted by the board of directors of the Corporation (the "**Board**") pursuant to Section 78.1955 of the Nevada Revised Statutes:

**WHEREAS**, the Certificate of Incorporation of the Corporation (the "**Certificate of Incorporation**") authorizes the issuance of up to 10,000,000 shares of preferred stock, par value $0.001 per share, of the Corporation ("**Preferred Stock**") in one or more series, and expressly authorizes Board, subject to limitations prescribed by law, to provide, out of the unissued shares of Preferred Stock, for series of Preferred Stock, and, with respect to each such series, to establish and fix the number of shares to be included in any series of Preferred Stock and the designation, rights, preferences, powers, restrictions, and limitations of the shares of such series; and

**WHEREAS** it is the desire of the Board to establish and fix the number of shares to be included in a new series of Preferred Stock and the designation, rights, preferences, and limitations of the shares of such new series.

**NOW, THEREFORE, BE IT RESOLVED**, that the Board does hereby provide for the issue of a series of Preferred Stock and does hereby in this Certificate of Designation (the "**Certificate of Designation**") establish and fix and herein state and express the designation, rights, preferences, powers, restrictions, and limitations of such series of Preferred Stock as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Des</u>ig<u>nation</u>. There shall be a series of Preferred Stock that shall be designated as "Series B Convertible Preferred Stock" (the "**Series B Preferred Stock**") and the number of Shares constituting such series shall be 1,250,000. The rights, preferences, powers, restrictions, and limitations of the Series B Preferred Stock shall be as set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2. <u>Defined Terms</u>. For purposes hereof, the following terms shall have the following meanings:

"**Board**" has the meaning set forth in the Recitals.

"**Certificate of Designation**" has the meaning set forth in the Recitals.

"**Certificate of Incorporation**" has the meaning set forth in the Recitals.

"**Change of Control**" means (a) any sale, lease, or transfer or series of sales, leases, or transfers of all or substantially all of the assets of the Corporation; (b) any sale, transfer, or issuance (or series of sales, transfers, or issuances) of capital stock by the Corporation or the holders of Common Stock (or other voting stock of the Corporation) that results in the inability of the holders of Common Stock (or other voting stock of the Corporation) immediately prior to such sale, transfer, or issuance to designate or elect a majority of the board of directors (or its equivalent) of the Corporation; or (c) any merger, consolidation, recapitalization, or reorganization of the Corporation with or into another Person (whether or not the Corporation is the surviving corporation) that results in the inability of the holders of Common Stock (or other voting stock of the Corporation) immediately prior to such merger, consolidation, recapitalization, or reorganization to designate or elect a majority of the board of directors (or its equivalent) of the resulting entity or its parent company.

"**Common Stock**" means the common stock, par value $0.001 per share, of the Corporation.

"**Corporation**" has the meaning set forth in the Preamble.

"**Conversion Price**" means 70% of the Qualified Public Offering Price, Qualified Financing Offering Price or Qualified Disposition Price.

"**Conversion Shares**" means the shares of Common Stock or other capital stock of the Corporation then issuable upon conversion of the Series B Preferred Stock in accordance with the terms of Section 3.

"**Dividend Payment Date**" has the meaning set forth in Section 4.1.

"**Encumbrance**" means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction on use, voting, transfer, receipt of income, or exercise of any other attribute of ownership.

"**Junior Securities**" means, collectively, the Common Stock, Series A Preferred Stock and any other class of securities that is specifically designated as junior to the Series B Preferred Stock.

"**Liquidation**" has the meaning set forth in Section 5.1(a).

"**Liquidation Value**" means, with respect to any Share on any given date, $4.0 (as adjusted for any stock splits, stock dividends, recapitalizations, or similar transaction with respect to the Series B Preferred Stock).

"**Person**" means an individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated organization, trust, association, or other entity.

"**Preferred Stock**" has the meaning set forth in the Recitals.

"**Qualified Disposition**" is defined as any sale, transfer, or conveyance to another Person or entity of all or substantially all of the property and assets of the Corporation for cash.

"**Qualified Disposition Price**" means the purchase price in connection with a Qualified

Disposition.

"**Qualified Financing**" means an equity financing with gross proceeds greater than

$3,000,000.

"**Qualified Financing Offering Price**" means the offering price per share of Common Stock in a Qualified Financing.

"**Qualified Public Offering**" means the sale, in a firm commitment underwritten public offering of securities of the Corporation pursuant to an effective registration statement under the Securities Act, following which the Common Stock of the Corporation shall be listed on any national securities exchange registered with the Securities and Exchange Commission under Section 6(a) of the Securities Exchange Act of 1934, as amended.

"**Qualified Public Offering Price**" means the offering price per share of Common Stock in a Qualified Public Offering.

"**Securities Act**" means the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations thereunder, which shall be in effect at the time.

"**Series B Preferred Stock**" has the meaning set forth in Section 1. "**Share**" means a share of Series B Preferred Stock.

"**Stated Value**" is $4.0 per Share.

"**Subsidiary**" means, with respect to any Person, any other Person of which a majority of the outstanding shares or other equity interests having the power to vote for directors or comparable managers are owned, directly or indirectly, by the first Person.

"**Supermajority Interest**" has the meaning set forth in Section 6.3.

"**Triggering Event**" means a Qualified Public Offering, Qualified Financing or a Qualified Disposition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3. <u>Conversion</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Automatic Conversion</u>. Subject to the provisions of this Section 3, in connection with, and on the closing of a Triggering Event, all of the outstanding Shares of Series B Preferred Stock held by stockholders shall automatically convert along with the aggregate accrued or accumulated and unpaid dividends thereon into an aggregate number of shares of Common Stock as is determined by dividing the Stated Value per Share along with the aggregate accrued or accumulated and unpaid dividends on the outstanding shares of Series B Preferred Stock by the Conversion Price. For purposes of clarity, if the Qualified Public Offering Price is $4.00 per share of Common Stock, the Conversion Price would be $2.80 per Share and the holder of the Series B Preferred Stock would receive one point forty-three (1.43) shares of Common Stock for each Share held. If a closing of a Qualified Public Offering occurs, such automatic conversion of all of the outstanding Shares of Series B Preferred Stock shall be deemed to have been converted into shares of Common Stock as of such closing. Fractional shares resulting from this Section 3 shall be rounded up to the nearest whole number or be payable in cash or scrip, at the discretion of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Lock-Up Period After Conversion.</u> Notwithstanding anything to the contrary herein, Conversion Shares shall be subject to a lock-up period of six (6) months from the date of such conversion (the "Lock-Up Period"). During the Lock-Up Period, the holder shall not sell, assign, transfer, pledge, or otherwise dispose of any Conversion Shares, except with the prior written consent of the Corporation or in connection with a transfer to an affiliate of the holder who agrees in writing to be bound by the provisions of this Section 3.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.3 <u>Procedures for Conversion; Effect of Conversion</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As of the closing of the Triggering Event, all outstanding Shares of Series B Preferred Stock shall be converted into the number of shares of Common Stock calculated pursuant to Section 3.1 without any further action by the relevant holder of such Shares or the Corporation. As promptly as practicable following such Triggering Event (but in any event within five (5) days thereafter), the Corporation shall send each holder of Shares of Series B Preferred Stock written notice of such event. Upon receipt of such notice, each holder shall surrender to the Corporation the certificate or certificates representing the Shares being converted, duly assigned, or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto) or, in the event the certificate or certificates are lost, stolen, or missing, accompanied by an affidavit of loss executed by the holder. Upon the surrender of such certificate(s) and accompanying materials, the Corporation shall as promptly as practicable (but in any event within ten (10) days thereafter) deliver to the relevant holder a certificate in such holder's name (or the name of such holder's designee as stated in the written election) for the number of shares of Common Stock (including any fractional share) to which such holder shall be entitled upon conversion of the applicable Shares. All shares of Common Stock issued hereunder by the Corporation shall be duly and validly issued, fully paid, and nonassessable, free and clear of all Encumbrances with respect to the issuance thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Effect of Conversion</u>. All Shares of Series B Preferred Stock converted as provided in this Section 3.2 shall no longer be deemed outstanding as of the effective time of the applicable conversion and all rights with respect to such Shares shall immediately cease and terminate as of such time, other than the right of the holder to receive shares of Common Stock in exchange therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Reservation of Stock</u>. The Corporation shall at all times when any Shares of Series B Preferred Stock is outstanding reserve and keep available out of its authorized but unissued shares of capital stock, solely for the purpose of issuance upon the conversion of the Series B Preferred Stock, such number of shares of Common Stock issuable upon the conversion of all outstanding Series B Preferred Stock pursuant to this Section 3. The Corporation shall take all such actions as may be necessary to assure that all such shares of Common Stock may be so issued without violation of any applicable law or governmental regulation or any requirements of any domestic securities exchange upon which shares of Common Stock may be listed (except for official notice of issuance which shall be immediately delivered by the Corporation upon each such issuance). The Corporation shall not close its books against the transfer of any of its capital stock in any manner which would prevent the timely conversion of the Shares of Series B Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <u>No Charge or Payment</u>. The issuance of certificates for shares of Common Stock upon conversion of Shares of Series B Preferred Stock pursuant to the terms herein shall be made without payment of additional consideration by, or other charge, cost, or tax to, the holder in respect thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 <u>Adjustment to Conversion Price and Number of Conversion Shares</u>. In order to prevent dilution of the conversion rights granted under this Section 3, the Conversion Price and the number of Conversion Shares issuable on conversion of the Shares of Series B Preferred Stock shall be subject to adjustment from time to time as provided in this Section 3.5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Adjustment to Conversion Price and Conversion Shares upon Dividend, Subdivision, or Combination of Common Stock</u>. If the Corporation shall, at any time or from time to time after the Date of Issuance, (i) pay a dividend or make any other distribution upon the Common Stock or any other capital stock of the Corporation payable in shares of Common Stock or in Options or Convertible Securities, or (ii) subdivide (by any stock split, recapitalization, or otherwise) its outstanding shares of Common Stock into a greater number of shares, the Conversion Price in effect immediately prior to any such dividend, distribution, or subdivision shall be proportionately reduced and the number of Conversion Shares issuable upon conversion of the Series B Preferred Stock shall be proportionately increased. If the Corporation at any time combines (by combination, reverse stock split, or otherwise) its outstanding shares of Common Stock into a smaller number of shares, the Conversion Price in effect immediately prior to such combination shall be proportionately increased and the number of Conversion Shares issuable upon conversion of the Series B Preferred Stock shall be proportionately decreased.

Any adjustment under this Section 3.5(a) shall become effective at the close of business on the date the dividend, subdivision, or combination becomes effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Adjustment to Conversion Price and Conversion Shares upon Reorganization</u>, <u>Reclassification, Consolidation, or Merger</u>. In the event of any (i) capital reorganization of the Corporation, (ii) reclassification of the stock of the Corporation (other than a change in par value or from par value to no par value or from no par value to par value or as a result of a stock dividend or subdivision, split-up or combination of shares), (iii) consolidation or merger of the Corporation with or into another Person, (iv) sale of all or substantially all of the Corporation's assets to another Person for non-cash consideration or (v) other similar transaction, in each case which entitles the holders of Common Stock to receive (either directly or upon subsequent liquidation) stock, securities, or assets with respect to or in exchange for Common Stock, each Share of Series B Preferred Stock shall, immediately after such reorganization, reclassification, consolidation, merger, sale, or similar transaction, remain outstanding and shall thereafter, in lieu of or in addition to (as the case may be) the number of Conversion Shares then convertible for such Share, be exercisable for the kind and number of shares of stock or other securities or assets of the Corporation or of the successor Person resulting from such transaction to which such Share would have been entitled upon such reorganization, reclassification, consolidation, merger, sale, or similar transaction if the Share had been converted in full immediately prior to the time of such reorganization, reclassification, consolidation, merger, sale, or similar transaction and acquired the applicable number of Conversion Shares then issuable hereunder as a result of such conversion (without taking into account any limitations or restrictions on the convertibility of such Share, if any); and, in such case, appropriate adjustment shall be made with respect to such holder's rights under this Certificate of Designation to insure that the provisions of this Section 3 hereof shall thereafter be applicable, as nearly as possible, to the Series B Preferred Stock in relation to any shares of stock, securities, or assets thereafter acquirable upon conversion of Series B Preferred Stock (including, in the case of any consolidation, merger, sale, or similar transaction in which the successor or purchasing Person is other than the Corporation, an immediate adjustment in the Conversion Price to the value per share for the Common Stock reflected by the terms of such consolidation, merger, sale, or similar transaction, and a corresponding immediate adjustment to the number of Conversion Shares acquirable upon conversion of the Series B Preferred Stock without regard to any limitations or restrictions on conversion, if the value so reflected is less than the Conversion Price in effect immediately prior to such consolidation, merger, sale, or similar transaction). The provisions of this Section 3.5(b) shall similarly apply to successive reorganizations, reclassifications, consolidations, mergers, sales, or similar transactions. The Corporation shall not effect any such reorganization, reclassification, consolidation, merger, sale, or similar transaction unless, prior to the consummation thereof, the successor Person (if other than the Corporation) resulting from such reorganization, reclassification, consolidation, merger, sale, or similar transaction, shall assume, by written instrument substantially similar in form and substance to this Certificate of Designation, the obligation to deliver to the holders of Series B Preferred Stock such shares of stock, securities, or assets which, in accordance with the foregoing provisions, such holders shall be entitled to receive upon conversion of the Series B Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4. <u>Dividends</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Accrual and Payment of Dividends</u>. In the event the Qualified Public Offering is not consummated by December 31, 2025, dividends on such Share shall accrue, whether or not declared by the Board and whether or not there are funds legally available for the payment of dividends, at the rate of 8% per annum on the sum of the Liquidation Value, beginning on the original issue date of such Share. The first dividend payment shall be due on March 31, 2026, and shall include all accrued dividends from the original issue date through such payment date. Thereafter, dividends shall be paid quarterly on the last day of March, June, September, and December of each calendar year (each such date, a "**Dividend Payment Date**"). All accrued and accumulated dividends on the Shares shall be prior and in preference to any dividend on any Junior Securities and shall be fully declared and paid before any dividends are declared and paid, or any other distributions or redemptions are made, on any Junior Securities, other than to (a) declare or pay any dividend or distribution payable on the Common Stock in shares of Common Stock or (b) repurchase Common Stock held by employees or consultants of the Corporation upon the termination of their employment or services pursuant to agreements providing for such repurchase. Not withstanding anything to the contrary herein, if the Company elects to return the purchase price to the holders of the Shares in accordance with Section 2.3 of the Securities Purchase Agreement following the failure to consummate a Qualified Public Offering by December 31, 2025, then this Section 4.1 shall not apply, and no dividends shall accrue or be payable with respect to any Shares that are returned and canceled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5. <u>Liquidation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.1 <u>Liquidation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Liquidation</u>. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation (a "**Liquidation**"), the holders of Shares of Series B Preferred Stock then outstanding shall be entitled to be paid out of the assets of the Corporation available for distribution to its stockholders, before any payment shall be made to the holders of Junior Securities by reason of their ownership thereof, an amount in cash equal to the aggregate Liquidation Value of all Shares held by such holder, plus all unpaid accrued and accumulated dividends on all such Shares (whether or not declared).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Liquidation Procedures</u>. In furtherance of the foregoing, the Corporation shall take such actions as are necessary to give effect to the provisions of Section 5.1(a), including, without limitation, in the case of a Change of Control structured as a merger, consolidation, or similar reorganization, causing the definitive agreement relating to such transaction to provide for a rate at which the Shares of Series B Preferred Stock are converted into or exchanged for cash, new securities, or other property. The Corporation shall promptly provide to the holders of Shares of Series B Preferred Stock such information concerning the terms of such Change of Control, and the value of the assets of the Corporation as may reasonably be requested by the holders of Series B Preferred Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Participation With Junior Securities on Liquidation</u>. In addition to and after payment in full of all preferential amounts required to be paid to the holders of Series B Preferred Stock upon a Liquidation under this Section 5, the holders of Shares of Series B Preferred Stock then outstanding shall be entitled to participate with the holders of shares of Junior Securities then outstanding, pro rata as a single class based on the number of outstanding shares of Junior Securities on an as-converted basis held by each holder as of immediately prior to the Liquidation, in the distribution of all the remaining assets and funds of the Corporation available for distribution to its stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <u>Insufficient Assets</u>. If upon any Liquidation the remaining assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of the Shares of Series B Preferred Stock the full preferential amount to which they are entitled under Section 5.1(a), (i) the holders of the Shares shall share ratably in any distribution of the remaining assets and funds of the Corporation in proportion to the respective full preferential amounts which would otherwise be payable in respect of the Series B Preferred Stock in the aggregate upon such Liquidation if all amounts payable on or with respect to such Shares were paid in full, and (ii) the Corporation shall not make or agree to make any payments to the holders of Junior Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.4 Notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notice Requirement. In the event of any Liquidation, the Corporation shall, within ten (10) days of the date the Board approves such action, or no later than twenty (20) days of any stockholders' meeting called to approve such action, or within twenty (20) days of the commencement of any involuntary proceeding, whichever is earlier, give each holder of Shares of Series B Preferred Stock written notice of the proposed action. Such written notice shall describe the material terms and conditions of such proposed action, including a description of the stock, cash, and property to be received by the holders of Shares upon consummation of the proposed action and the date of delivery thereof. If any material change in the facts set forth in the initial notice shall occur, the Corporation shall promptly give written notice to each holder of Shares of such material change.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Votin</u>g. The Series B Preferred Stock shall not be entitled to any votes with respect to any and all matters presented to the stockholders of the Corporation for their action or consideration (whether at a meeting of stockholders of the Corporation, by written action of stockholders in lieu of a meeting or otherwise), except as provided by law or by the provisions of Section 6.1 below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <u>Other Special Voting Rights</u>. Without the prior written consent of holders of not less than two-thirds of the then total outstanding Shares of Series B Preferred Stock (a "**Supermajority Interest**"), voting separately as a single class with one vote per Share, in person or by proxy, either in writing without a meeting or at an annual or a special meeting of such holders, and any other applicable stockholder approval requirements required by law, the Corporation shall not take any of the actions or transactions described in this Section 6.1 (any such action or transaction without such prior written consent being null and void *ab initio* and of no force or effect) as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) amend, alter, modify, or repeal this Certificate of Designation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) use, or permit the use of, the proceeds from the sale of the Series B Preferred Stock other than for general working capital purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) enter into, or become subject to, any agreement or instrument or other obligation which by its terms restricts the Corporation's ability to perform its obligations under this Certificate of Designation or Securities Purchase Agreement in connection with the Series B Preferred Stock, including the ability of the Corporation to pay dividends or make any redemption or other liquidation payment required hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) directly or indirectly create, issue, incur, assume, become liable in respect of or suffer to exist any indebtedness, in excess of $500,000 or that is outside the ordinary course of Company's business; provided, however, that the foregoing shall not apply to (i) the existence of any indebtedness related to the Company's outstanding SAFEs, which the Company believes to be equity instruments but may be accounted for as debt instruments, (ii) any accounts payable or accrued expenses arising in the ordinary course of the Company's business, including, without limitation, attorneys' fees and other professional fees, or (iii) any other indebtedness for which the Company obtains the prior written consent of the required parties; which consent shall not be unreasonably withheld, 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; (e) agree or commit to do any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Reissuance of Series B Preferred Stock</u>. Any Shares of Series B Preferred Stock converted or otherwise acquired by the Corporation shall be canceled and retired as authorized and issued shares of capital stock of the Corporation and no such Shares shall thereafter be reissued, sold, or transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Notices</u>. Except as otherwise provided herein, all notices, requests, consents, claims, demands, waivers, and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent (a) to the Corporation, at its principal executive offices and (b) to any stockholder, at such holder's address at it appears in the stock records of the Corporation (or at such other address for a stockholder as shall be specified in a notice given in accordance with this Section 8).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Amendment and Waiver</u>. No provision of this Certificate of Designation may be amended, modified, or waived except by an instrument in writing executed by the Corporation and a Supermajority Interest and any such written amendment, modification, or waiver will be binding upon the Corporation and each holder of Series B Preferred Stock; *provided*, that no such action shall change or waive (a) the definition of Liquidation Value, (b) the rate at which or the manner in which dividends on the Series B Preferred Stock accrue or accumulate or the times at which such dividends become payable pursuant to Section 4, or (c) this Section 9, without the prior written consent of each holder of outstanding Shares of Series B Preferred Stock; *provided*, *further*, that no amendment, modification, or waiver of the terms or relative priorities of the Series B Preferred Stock may be accomplished by the merger, consolidation, or other transaction of the Corporation with another corporation or entity unless the Corporation has obtained the prior written consent of the holders in accordance with this Section 9.

**IN WITNESS WHEREOF**, the undersigned has signed this Certificate of Designation of Collab Z Inc. as of the 27<sup>th</sup> day of May, 2025.

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| | |
|:---|:---|
| **COLLAB Z INC.** | **COLLAB Z INC.** |
| By: | */s/ Qiaojun Lai* |
| Name: | Qiaojun Lai |
| Title: | Chief Executive Officer |

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## Exhibit 10.1

**Exhibit 10.1**

**STOCK PURCHASE AGREEMENT**

This STOCK PURCHASE AGREEMENT (this "<u>Agreement</u>") is made and entered into as of September , 2024, by and among Collab Z Inc., a Nevada corporation (the "<u>Company</u>"), and the undersigned (each, including its successors and assigns, a "Purchaser" and collectively, the "Purchasers").

WHEREAS, the Purchasers desire to purchase, and the Company desires to sell, up to _____ shares (the "Shares") of the Company's common stock, par value $0.001 per share (the "Common Stock") upon the terms and conditions hereof.

**NOW, THEREFORE**, in consideration of the foregoing and the mutual covenants, agreements and warranties herein contained, the parties hereby agree as follows:

1. PURCHASE OF SHARES

&nbsp;&nbsp;&nbsp;&nbsp;1.1. Purchase of Shares

Subject to the terms and conditions of this Agreement, the Company agrees to issue and sell to the Purchaser at the Closing, and the Purchaser agrees to purchase at the Closing, that number of Shares set forth on the signature page hereto (the "<u>Purchase Price</u>").

&nbsp;&nbsp;&nbsp;&nbsp;1.2. Repurchase

In the event that the Company shall not have completed an initial public offering of its Common Stock registered under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), on or before 36 months from the purchase date of the Shares, then at the option of the Company, the Company shall repurchase the Shares from the Purchaser for the purchase price of such Shares..

2. CLOSING

&nbsp;&nbsp;&nbsp;&nbsp;2.1. Closing

Upon the terms and subject to the satisfaction or waiver of all of the conditions to closing set forth in this Agreement, the closing (the "<u>Closing</u>") of the purchase and sale of the Shares shall take place at the offices of Sichenzia Ross Ference Carmel LLP, 1185 6th Ave 31st Fl, New York, NY 10036, or at such other location as the Company and the Purchaser may mutually agree upon. The Closing Date for any Shares shall be the date indicated on the applicable Purchaser signature pages attached hereto

&nbsp;&nbsp;&nbsp;&nbsp;2.2. Closing Deliveries

(a) <u>Deliveries by the Purchaser</u>. At the Closing, the Purchaser shall deliver to the Company the following:

the Purchase Price, by wire transfer of immediately available funds to the account designated in writing to the Purchaser by the Company for such purpose;

(b) <u>Deliveries by the Company</u>. At the Closing, the Company shall deliver to the Purchaser the following: a stock certificate evidencing the Shares (the "<u>Share Certificate</u>") registered in the name of the Purchaser.

3. COMPANY REPRESENTATIONS AND WARRANTIES

The Company hereby represents and warrants to the Purchaser that:

&nbsp;&nbsp;&nbsp;&nbsp;3.1. Organization and Standing

The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada and has all requisite corporate power and authority to own, lease and operate its assets and properties, to carry on its business as presently conducted, to execute and deliver this Agreement and to carry out the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;3.2. Authorization

The execution, delivery and performance of this Agreement by the Company, the fulfillment of and compliance with the respective terms and provisions hereof, and the consummation of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate action on the part of the Company (none of which actions have been modified or rescinded, and all of which actions are in full force and effect). When executed by the Company, this Agreement will constitute a valid and legally binding obligation of the Company, enforceable in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors' rights generally or by general equitable principles.

&nbsp;&nbsp;&nbsp;&nbsp;3.3. Title to Shares

&nbsp;&nbsp;&nbsp;&nbsp;3.4. Non-Contravention

The issuance and sale by the Company of the Shares does not conflict with the articles of incorporation or bylaws of the Company or any material contract by which the Company or its property is bound, or any federal or state laws or regulations or decree, ruling or judgment of any United States or state court applicable to the Company or its property.

4. PURCHASER REPRESENTATIONS AND WARRANTIES

The Purchaser hereby represents and warrants to the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;4.1. Organization and Standing; Legal Capacity

If the Purchaser is a partnership, corporation, trust or other entity or association (an "<u>Entity</u>"), the Purchaser is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization or formation and has all requisite power and authority to own, lease and operate its assets and properties, to carry on its business as presently conducted, to execute and deliver this Agreement and to carry out the transactions contemplated hereby. If the Purchaser is a natural person, the Purchaser has the full and unrestricted legal capacity to execute and deliver this Agreement and to carry out the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;4.2. Authorization; Binding Obligation

If the Purchaser is an Entity, the execution, delivery and performance of this Agreement by the Purchaser, the fulfillment of and the compliance with the respective terms and provisions hereof, and the due consummation of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate or other action on the part of the Purchaser (none of which actions have been modified or rescinded, and all of which actions are in full force and effect). When executed by the Purchaser, this Agreement will constitute a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors' rights generally or by general equitable principles.

&nbsp;&nbsp;&nbsp;&nbsp;4.3. Non-Contravention

The purchase by the Purchaser of the Shares does not conflict with the organizational documents of the Purchaser or with any material contract by which the Purchaser or its property is bound, if the Purchaser is an Entity, or any laws or regulations or decree, ruling or judgment of any court applicable to the Purchaser or the Purchaser's property.

&nbsp;&nbsp;&nbsp;&nbsp;4.4. Purchase Entirely for Own Account

The Shares to be received by the Purchaser will be acquired for investment for the Purchaser's own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and the Purchaser has no present intention of selling, granting any participation in, or otherwise distributing the same. The Purchaser does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Shares to be received by the Purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;4.5. Investment Experience and Access to Information

(a) The Purchaser can bear the economic risk of the investment and has such knowledge and experience in financial or business matters that the Purchaser is capable of evaluating the merits and risks of the investment in the Shares. If the Purchaser is an Entity, the Purchaser also represents it has not been organized solely for the purpose of acquiring the Shares.

(b) The Purchaser has been furnished all information the Purchaser considers necessary or appropriate for deciding whether to purchase the Shares. The Purchaser has had adequate opportunity to ask questions of, and receive answers from, the officers, employees, agents, accountants and representatives of the Company regarding the business, operations, financial condition, assets and liabilities of the Company and the terms and conditions of the offering of the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;4.6. Restricted Shares

The Purchaser understands and acknowledges that the Shares being acquired pursuant hereto are characterized as "restricted securities" under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may not be resold without registration under the Securities Act, except in certain limited circumstances. The Purchaser is familiar with Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;4.7. Legends

The Purchaser understands and acknowledges that the Shares, and any securities issued in respect of or in exchange for the Shares, may bear one or all of the following legends (in addition to any other legend which may be required by other arrangements between the parties hereto):

(a) "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE LAWS, AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND, IF REQUESTED BY THE COMPANY, UPON DELIVERY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT THE PROPOSED TRANSFER IS EXEMPT FROM THE SECURITIES ACT."

(b) Any legend required by the securities laws of any state to the extent such laws are applicable to the Shares represented by the certificate so legended.

&nbsp;&nbsp;&nbsp;&nbsp;4.8. Accredited Purchaser

The Purchaser is an "accredited investor" as defined in Rule 501(a) under Regulation D of the Securities Act. The undersigned agrees to furnish any additional information requested by the Company or any of its Affiliates to assure compliance with applicable U.S. federal and state securities laws in connection with the purchase and sale of the Securities. Any information that has been furnished or that will be furnished by the undersigned to evidence its status as an accredited investor is accurate and complete, and does not contain any misrepresentation or material omission.

5. MISCELLANEOUS

&nbsp;&nbsp;&nbsp;&nbsp;5.1. Confidentiality

The Purchaser agrees that, except with the prior written consent of the Company, the Purchaser shall at all times hold in confidence and trust and not use or disclose any confidential information of the Company provided to or learned by the Purchaser in connection with this Agreement. Notwithstanding the foregoing, the Purchaser may disclose any confidential information of the Company (i) as required by any court or other governmental body, provided that the Purchaser provides the Company with prompt notice of such court order or requirement to the Company to enable the Company to seek a protective order or otherwise to prevent or restrict such disclosure or (ii) discussing or using such confidential information if the same hereafter is in the public domain (other than as a result of a breach of this Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;5.2. Notices

(a) All notices, demands or requests provided for or permitted to be given pursuant to this Agreement must be in writing, to the following addresses:

 

*If to the Company, to*:

Collab Z Inc.

29 Orinda Way, #536

Orinda, CA 94563

Attention: Qian Wang, Chairman

with a copy (which shall not constitute notice) to:

Sichenzia Ross Ference Carmel LLP

1185 6th Ave 31st FL

New York, NY 10036

Attention: Ross David Carmel, Esq.

Matthew Siracusa, Esq.

If to the Purchaser, to:

The address appearing on the signature page hereof.

&nbsp;&nbsp;&nbsp;&nbsp;5.3. Assignment; Successors and Assigns

This Agreement and the rights granted hereunder may not be assigned by the Purchaser without the prior written consent of the Company. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors and permitted assigns as provided in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;5.4. Third Party Beneficiaries

Nothing in this Agreement, express or implied, is intended to confer upon any person, other than the parties hereto or their respective successors and permitted assigns, any rights, remedies, obligations or liabilities under or by any reason of this Agreement, except as expressly provided in this Agreement and provided that the Underwriters shall be a third party beneficiary of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;5.5. Entire Agreement

This Agreement contains the entire agreement and understanding among the parties hereto with respect to the subject matter of this Agreement, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter of this Agreement. The express terms of this Agreement control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;5.6. Amendments

This Agreement may be amended or modified only by an agreement in writing signed by both parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;5.7. No Implied Waivers; Remedies

No failure or delay on the part of any party in exercising any right, privilege, power, or remedy under this Agreement, and no course of dealing shall operate as a waiver of any such right, privilege, power or remedy; nor shall any single or partial exercise of any right, privilege, power or remedy under this Agreement preclude any other or further exercise of any such right, privilege, power or remedy or the exercise of any other right, privilege, power or remedy. No waiver shall be asserted against any party unless signed in writing by such party. The rights, privileges, powers and remedies available to the parties are cumulative and not exclusive of any other rights, privileges, powers or remedies provided by statute, at law, in equity or otherwise. Except as provided in this Agreement, no notice to or demand on any party in any case shall entitle such party to any other or further notice or demand in any similar or other circumstances or constitute a waiver of the right of the party giving such notice or making such demand to take any other or further action in any circumstances without notice or demand.

&nbsp;&nbsp;&nbsp;&nbsp;5.8. Governing Law

THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE CHOICE OF LAW RULES THEREOF. EACH OF THE PARTIES HEREBY IRREVOCABLY AGREES THAT THE COURTS OF THE STATE OF NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION IN CONNECTION WITH ANY ACTIONS OR PROCEEDINGS ARISING BETWEEN THE PARTIES UNDER THIS AGREEMENT. EACH OF THE PARTIES HEREBY IRREVOCABLY CONSENTS AND SUBMITS TO THE JURISDICTION OF SAID COURTS FOR ANY SUCH ACTION OR PROCEEDING. EACH OF THE PARTIES HEREBY WAIVES THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF ANY SUCH ACTION OR PROCEEDING IN SAID COURTS.

&nbsp;&nbsp;&nbsp;&nbsp;5.9. Waiver of Trial by Jury

EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, COUNTERCLAIM OR OTHER PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF, CONNECTED WITH OR RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACTIONS OF ANY HOLDER IN

THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

&nbsp;&nbsp;&nbsp;&nbsp;5.10. Headings

The headings contained in this Agreement are for convenience only and shall not affect the construction or interpretation of any provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;5.11. Severability

If any provision of the Agreement shall be held to be invalid, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;5.12. Counterparts

This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This Agreement shall become binding when one or more counterparts of this Agreement, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories.

<u>**Signatures on following page**</u>

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| COMPANY: | COMPANY: |
| COLLAB Z INC. | COLLAB Z INC. |
| By: | /s/ |
| Name: | Qian Wang |
| Title: | Chairman |

---

---

| | |
|:---|:---|
| *If signature is by a trustee, executor, administrator, guardian, attorney-in-fact, officer or other person acting in a fiduciary or representative capacity, such person must set forth his or her full title below under "Capacity" and submit evidence satisfactory to the Company of such person's authority to so act.* | PURCHASER: <br> Signature of Purchaser or Authorized Signatory Signature of Co-Purchaser (if any) |

---

---

| | | |
|:---|:---|:---|
| **ADDITIONAL INFORMATION TO BE COMPLETED BY PURCHASER:**  | **ADDITIONAL INFORMATION TO BE COMPLETED BY PURCHASER:**  | **ADDITIONAL INFORMATION TO BE COMPLETED BY PURCHASER:**  |
| ***(Please print or type)*** | ***(Please print or type)*** | ***(Please print or type)*** |
| Name of Purchaser: |  | |
| Name of Co-Purchaser (if any): |  | |
|  |  | **Circle one: joint or co-tenant** |
| Purchase Price: |  | |
| Name of Authorized Signatory (if applicable): |  | |
| Capacity: |  | |
| Purchaser's Residence/Business Address: |  | |
|  | Telephone: | |
|  | Facsimile: | |
| Purchaser's Mailing Address (if different): |  | |
|  | Telephone: | |
|  | Facsimile: | |
| Purchaser's Taxpayer ID/Social Security Number: |  | |

---

## Exhibit 10.2

**Exhibit 10.2**

**CANCELLATION AND RELEASE AGREEMENT**

This Cancellation and Release Agreement (the "**Agreement**") is entered into as of _____, 2024 by and between:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. _____________(the "**Purchaser** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Collab Z Inc.**, a Nevada corporation ()"**the Company** ").

The Purchaser and the Company may each be referred to as a "Party" and collectively as the "Parties."

**RECITALS**

WHEREAS the Parties previously entered into that certain Securities Purchase Agreement dated September __, 2024 (the "**SPA**"), pursuant to which the Purchaser agreed to purchase, and the Company agreed to issue, up to 6,000,000 shares (the "**Shares**") of the Company's common stock, par value $0.001 per share (the "Common Stock") upon the terms and conditions hereof. (the "**Securities**");

WHEREAS the Parties mutually desire to cancel the SPA in its entirety and release each other from any and all obligations, rights, and claims under the SPA;

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. Cancellation of SPA

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 **Termination**: The Parties hereby agree that the SPA is terminated, canceled, and of no further force or effect as of the date of this Agreement (the "**Effective Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 **No Future Obligations**: Except as expressly provided in this Agreement, neither Party shall have any further rights or obligations under the SPA as of the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;2. Release of Claims

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 **Mutual Release**: Each Party, on behalf of itself and its affiliates, successors, and assigns, hereby releases, waives, and forever discharges the other Party, including its officers, directors, employees, affiliates, successors, and assigns, from any and all claims, demands, causes of action, obligations, liabilities, or damages, whether known or unknown, arising out of or related to the SPA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 **No Admissions**: The Parties acknowledge that this Agreement does not constitute an admission of liability or wrongdoing by either Party.

&nbsp;&nbsp;&nbsp;&nbsp;3. Representations and Warranties

Each Party represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.1 It has the full power and authority to enter into and perform its obligations under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;3.2 This Agreement has been duly authorized, executed, and delivered by such Party and constitutes a valid and binding obligation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.3 It has not assigned or transferred any rights, claims, or obligations under the SPA to any third party.

&nbsp;&nbsp;&nbsp;&nbsp;4. Miscellaneous

&nbsp;&nbsp;&nbsp;&nbsp;4.1 **Entire Agreement**: This Agreement constitutes the entire agreement between the Parties with respect to its subject matter and supersedes all prior agreements and understandings, whether written or oral.

&nbsp;&nbsp;&nbsp;&nbsp;4.2 **Governing Law**: This agreement shall be construed in accordance with and governed by the laws of the state of New York, without giving effect to the choice of law rules thereof. Each of the parties hereby irrevocably agrees that the courts of the state of New York shall have exclusive jurisdiction in connection with any actions or proceedings arising between the parties under this agreement. Each of the parties hereby irrevocably consents and submits to the jurisdiction of said courts for any such action or proceeding. Each of the parties hereby waives the defense of an inconvenient forum to the maintenance of any such action or proceeding in said courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.3 **Amendments**: This Agreement may only be amended or modified in writing signed by both Parties.

&nbsp;&nbsp;&nbsp;&nbsp;4.4 **Counterparts**: This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;4.5 **Severability**: If any provision of this Agreement is determined to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

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

---

| | |
|:---|:---|
| By: |  |
| Name: |  |
| Title: |  |
| Date: | December __, 2024 |
| **Collab Z Inc.** | **Collab Z Inc.** |
| By: |  |
| Name: | Qian Wang |
| Title: | Chairman |
| Date: | December __, 2024 |

---

## Exhibit 10.3

**Exhibit 10.3**

**STOCK PURCHASE AGREEMENT**

THIS STOCK PURCHASE AGREEMENT (this "**Agreement**"), dated as of January __, 2025 is entered into between YRQ Irrevocable Trust, a trust located at 29 Orinda Way Unit 536 Orinda, CA, 94563-6922 United States (the "**Seller**"), and Albert Wang (the "**Buyer**").

WHEREAS, Seller owns ___ shares of common stock, par value $0.001 (the "**Shares**"), of Collab Z Inc, a Nevada corporation (the "**Company**"); and

WHEREAS, Seller wishes to sell to Buyer, and Buyer wishes to purchase from Seller, the Shares, subject to the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Purchase and Sale</u>. Subject to the terms and conditions set forth herein, at the Closing (as defined in Section 2), Seller shall sell, transfer and assign to Buyer, and Buyer shall purchase from Seller, all of Seller's right, title and interest in and to the Shares. The aggregate purchase price for the Shares shall be $1.00 (the "**Purchase Price**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Closing</u>. Subject to the terms and conditions contained in this Agreement, the purchase and sale of the Shares contemplated hereby shall take place at a closing (the "**Closing**") remotely by exchange of documents and signatures (or their electronic counterparts), or at such other place or on such other date as Buyer and Seller may mutually agree upon in writing. At the Closing, Seller shall deliver to Buyer a stock certificate or certificates evidencing the Shares, free and clear of all Encumbrances (as defined herein), duly endorsed in blank or accompanied by stock powers or other instruments of transfer duly executed in blank, and Buyer shall deliver to Seller the Purchase Price by ACH or by wire transfer of immediately available funds to an account designated in writing by Seller to Buyer no later than two business days before the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Representations and Warranties of Seller</u>. Seller hereby represents and warrants to Buyer as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Seller is a trust duly organized, validly existing and in good standing under the laws of the State of its formation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Seller has all requisite power and authority to execute and deliver this Agreement, to carry out its obligations hereunder, and to consummate the transactions contemplated hereby. Seller has obtained all necessary approvals for the execution and delivery of this Agreement, the performance of its obligations hereunder, and the consummation of the transactions contemplated hereby. This Agreement has been duly executed and delivered by Seller and (assuming due authorization, execution and delivery by Buyer) constitutes Seller's legal, valid and binding obligation, enforceable against Seller in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Shares have been duly authorized, are validly issued, fully paid and non-assessable, and are owned of record and beneficially by Seller, free and clear of all liens, pledges, security interests, charges, claims, encumbrances, agreements, options, voting trusts, proxies and other arrangements or restrictions of any kind ("**Encumbrances**"). Upon consummation of the transactions contemplated by this Agreement, Buyer shall own the Shares, free and clear of all Encumbrances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The execution, delivery and performance by Seller of this Agreement do not conflict with, violate or result in the breach of, or create any Encumbrance on the Shares pursuant to, any agreement, instrument, order, judgment, decree, law or governmental regulation to which Seller is a party or is subject or by which the Shares are bound.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No governmental, administrative or other third-party consents or approvals are required by or with respect to Seller in connection with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4. <u>Representation and Warranties of Buyer</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Buyer has all requisite power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by Buyer of this Agreement, the performance by Buyer of its obligations hereunder and the consummation by Buyer of the transactions contemplated hereby have been duly authorized by all requisite action on the part of Buyer. This Agreement has been duly executed and delivered by Buyer and (assuming due authorization, execution and delivery by Seller) this Agreement constitutes a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Buyer is acquiring the Shares solely for its own account for investment purposes and not with a view to, or for offer or sale in connection with, any distribution thereof. Buyer acknowledges that the Shares are not registered under the Securities Act of 1933, as amended, or any state securities laws, and that the Shares may not be transferred or sold except pursuant to the registration provisions of the Securities Act of 1933, as amended or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No governmental, administrative or other third party consents or approvals are required by or with respect to Buyer in connection with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Repurchase</u>. In the event that the Company shall not have completed an initial public offering of its shares of Common Stock pursuant to a registration statement filed under the Securities Act of 1933, as amended (the "**Securities Act**"), on or before thirty-six (36) months from date of the Closing, then at the sole option of the Company, the Company shall repurchase the Shares from the Purchaser for the Purchase Price of such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Survival</u>. All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Closing hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Further Assurances</u>. Following the Closing, each of the parties hereto shall execute and deliver such additional documents, instruments, conveyances and assurances, and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Expenses</u>. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Notices</u>. All notices, requests, consents, claims, demands, waivers and other communications hereunder (each, a "**Notice**") shall be in writing and addressed to the parties at the addresses set forth on the first page of this Agreement (or to such other address that may be designated by the receiving party from time to time in accordance with this section). All Notices shall be delivered by personal delivery, nationally recognized overnight courier (with all fees pre-paid), e-mail of a PDF document (with confirmation of transmission) or certified or registered mail (in each case, return receipt requested, postage prepaid). Except as otherwise provided in this Agreement, a Notice is effective only (a) upon receipt by the receiving party, and (b) if the party giving the Notice has complied with the requirements of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Entire Agreement</u>. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Successor and Assigns</u>. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. No party may assign any of its rights or obligations hereunder without the prior written consent of the other parties hereto, which consent shall not be unreasonably withheld or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Headings</u>. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Amendment and Modification; Waiver</u>. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Severability</u>. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Governing Law; Submission to Jurisdiction</u>. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction). Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of the United States or the courts of the State of California, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of process, summons, notice or other document by mail to such party's address set forth herein shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in such courts and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement 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 Agreement.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first written above.

---

| | |
|:---|:---|
| By | |
| YRQ Irrevocable Trust | YRQ Irrevocable Trust |
| By | |
| Name: | YRQ Irrevocable Trust Trustee |
| Title: |  |

---

## Exhibit 10.4

**Exhibit 10.4**

**STOCK ASSIGNMENT AGREEMENT**

THIS STOCK ASSIGNMENT AGREEMENT (this "**Agreement**"), dated as of January __, 2025 is entered into between YRQ Irrevocable Trust, a trust located at 29 Orinda Way Unit 536 Orinda, CA, 94563-6922 United States (the "**Seller**"), and Min Cai (the "**Buyer**").

WHEREAS, Seller owns ___ shares of common stock, par value $0.001 (the "**Shares**"), of Collab Z Inc, a Nevada corporation (the "**Company**"); and

WHEREAS, Seller wishes to sell to Buyer, and Buyer wishes to purchase from Seller, the Shares, subject to the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Purchase and Sale</u>. Subject to the terms and conditions set forth herein, at the Closing (as defined in Section 2), Seller shall sell, transfer and assign to Buyer, and Buyer shall purchase from Seller, all of Seller's right, title and interest in and to the Shares. The aggregate purchase price for the Shares shall be $50.0 (the "**Purchase Price**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Closing</u>. Subject to the terms and conditions contained in this Agreement, the purchase and sale of the Shares contemplated hereby shall take place at a closing (the "**Closing**") remotely by exchange of documents and signatures (or their electronic counterparts), or at such other place or on such other date as Buyer and Seller may mutually agree upon in writing. At the Closing, Seller shall deliver to Buyer a stock certificate or certificates evidencing the Shares, free and clear of all Encumbrances (as defined herein), duly endorsed in blank or accompanied by stock powers or other instruments of transfer duly executed in blank, and Buyer shall deliver to Seller the Purchase Price by ACH or by wire transfer of immediately available funds to an account designated in writing by Seller to Buyer no later than two business days before the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Representations and Warranties of Seller</u>. Seller hereby represents and warrants to Buyer as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Seller is a trust duly organized, validly existing and in good standing under the laws of the State of its formation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Seller has all requisite power and authority to execute and deliver this Agreement, to carry out its obligations hereunder, and to consummate the transactions contemplated hereby. Seller has obtained all necessary approvals for the execution and delivery of this Agreement, the performance of its obligations hereunder, and the consummation of the transactions contemplated hereby. This Agreement has been duly executed and delivered by Seller and (assuming due authorization, execution and delivery by Buyer) constitutes Seller's legal, valid and binding obligation, enforceable against Seller in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Shares have been duly authorized, are validly issued, fully paid and non-assessable, and are owned of record and beneficially by Seller, free and clear of all liens, pledges, security interests, charges, claims, encumbrances, agreements, options, voting trusts, proxies and other arrangements or restrictions of any kind ("**Encumbrances**"). Upon consummation of the transactions contemplated by this Agreement, Buyer shall own the Shares, free and clear of all Encumbrances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The execution, delivery and performance by Seller of this Agreement do not conflict with, violate or result in the breach of, or create any Encumbrance on the Shares pursuant to, any agreement, instrument, order, judgment, decree, law or governmental regulation to which Seller is a party or is subject or by which the Shares are bound.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No governmental, administrative or other third-party consents or approvals are required by or with respect to Seller in connection with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4. <u>Representation and Warranties of Buyer</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Buyer has all requisite power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by Buyer of this Agreement, the performance by Buyer of its obligations hereunder and the consummation by Buyer of the transactions contemplated hereby have been duly authorized by all requisite action on the part of Buyer. This Agreement has been duly executed and delivered by Buyer and (assuming due authorization, execution and delivery by Seller) this Agreement constitutes a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Buyer is acquiring the Shares solely for its own account for investment purposes and not with a view to, or for offer or sale in connection with, any distribution thereof. Buyer acknowledges that the Shares are not registered under the Securities Act of 1933, as amended, or any state securities laws, and that the Shares may not be transferred or sold except pursuant to the registration provisions of the Securities Act of 1933, as amended or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No governmental, administrative or other third party consents or approvals are required by or with respect to Buyer in connection with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Repurchase</u>. In the event that the Company shall not have completed an initial public offering of its shares of Common Stock pursuant to a registration statement filed under the Securities Act of 1933, as amended (the "**Securities Act**"), on or before thirty-six (36) months from date of the Closing, then at the sole option of the Company, the Company shall repurchase the Shares from the Purchaser for the Purchase Price of such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Survival</u>. All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Closing hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Further Assurances.w</u> Following the Closing, each of the parties hereto shall execute and deliver such additional documents, instruments, conveyances and assurances, and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Expenses</u>. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Notices</u>. All notices, requests, consents, claims, demands, waivers and other communications hereunder (each, a "**Notice**") shall be in writing and addressed to the parties at the addresses set forth on the first page of this Agreement (or to such other address that may be designated by the receiving party from time to time in accordance with this section). All Notices shall be delivered by personal delivery, nationally recognized overnight courier (with all fees pre-paid), e-mail of a PDF document (with confirmation of transmission) or certified or registered mail (in each case, return receipt requested, postage prepaid). Except as otherwise provided in this Agreement, a Notice is effective only (a) upon receipt by the receiving party, and (b) if the party giving the Notice has complied with the requirements of this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Entire Agreement</u>. This Agreement constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such subject matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Successor and Assigns</u>. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. No party may assign any of its rights or obligations hereunder without the prior written consent of the other parties hereto, which consent shall not be unreasonably withheld or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Headings</u>. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Amendment and Modification; Waiver</u>. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Severability</u>. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Governing Law; Submission to Jurisdiction</u>. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction). Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of the United States or the courts of the State of California, and each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. Service of process, summons, notice or other document by mail to such party's address set forth herein shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in such courts and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Counterparts</u>. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement 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 Agreement.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first written above.

---

| | |
|:---|:---|
| Min Cai | Min Cai |
| By | |
| YRQ Irrevocable Trust | YRQ Irrevocable Trust |
| By | |
| Name: | YRQ Irrevocable Trust |
| Title: | Trustee |

---

## Exhibit 10.5

**Exhibit 10.5**

Investor: Khyati Mody Company:

Collab CA LLC

Date: 4/25/2023

1. **Investment Amount**: The investor will invest USD 25,000 in the company in exchange for a SAFE, which will convert into equity upon the occurrence of a future financing round or other triggering event.

2. **Valuation Cap**: The SAFE will have a valuation cap of [$50 million], which sets the maximum valuation at which the SAFE will convert into equity.

3. **Discount Rate**: The SAFE will have a discount rate of [75%], which will be applied to the valuation of the company at the time of the triggering event in order to calculate the price per share for the investor.

4. **Conversion Event**: The SAFE will convert into equity upon the occurrence of a future financing round or other triggering event, as defined below:

a. Financing Round: If the company raises at least [$10 mil] in a qualified financing round, as defined by the SAFE, the SAFE will convert into equity.

b. Other Triggering Event: In the event of a merger, acquisition, or IPO, the SAFE will convert into equity.

5. **Governing Law**: This agreement will be governed by the laws of [Delaware, the United State].

6. **Representations and Warranties**: The company makes the following representations and warranties to the investor:

a. The company is duly organized, validly existing, and in good standing under the laws of its jurisdiction of organization.

b. The company has the power and authority to enter into this agreement and to carry out its obligations hereunder.

c. The execution and delivery of this agreement by the company has been duly authorized by all necessary corporate action.

d. The company's capitalization table is accurate and complete as of the date of this agreement.

e. There are no outstanding rights of first refusal, preemptive rights, or other restrictions on the company's ability to issue equity securities.

7. **Miscellaneous**:

a. This agreement represents the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements.

b. This agreement may not be amended or modified except in writing signed by both parties.

c. This agreement will be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

d. This agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

By signing below, the parties agree to the terms of this agreement:

---

| | |
|:---|:---|
| Investor: | /s/ Khyati Mody |
| Signed by | Signed by |

---

Name: Khyati Mody

Date: 5/8/2023

Company: Collab CA LLC Signed by

---

| |
|:---|
| */s/ Qian Wang* |
| Name: Qian Wang |
| Title: Founder/CEO |

---

Date: 4/25/2023

## Exhibit 10.6

**Exhibit 10.6**

**PROPERTY MANAGEMENT AGREEMENT**

**BETWEEN**

**COLLAB CA LLC**

**AND**

**[**●**]**

This PROPERTY MANAGEMENT AGREEMENT (this "**Agreement**"), dated as of ______________, is entered into between Collab CA LLC, a California limited liability company (the "**Property Manager**"), and a [●] organized under the laws of [●] (the "**Company**").

**RECITALS**

**WHEREAS**, the Company seeks to invest in the Asset (as defined in the Appendix hereto) in accordance with the terms and conditions of the Limited Liability Company Agreement, dated as of ____________ of [●], organized under the laws of [●], as amended and restated from time to time (the "**Operating Agreement**");

**WHEREAS**, the Company desires to avail itself of the advice and assistance of the Property Manager and to appoint and retain the Property Manager as the property manager to the Company with respect to the Assets; and

**WHEREAS**, the Property Manager wishes to accept such appointment;

**NOW THEREFORE**, in consideration of the mutual promises and obligations contained herein, the parties, intending to be legally bound, hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Appointment of Property Manager; Acceptance of Appointment</u>. The Company hereby appoints the Property Manager as property manager to the Company for the purpose of managing the Asset. The Property Manager hereby accepts such appointment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Authority of the Property Manager</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as set forth in Section 2(e) below and any guidance as may be established from time to time by the Sole Member of the Company, the Property Manager shall have sole authority and complete discretion over the care, custody, maintenance and management of the Asset and to take any action that it deems necessary or desirable in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Property Manager shall devote such time to its duties under this Agreement as may be deemed reasonably necessary by the Property Manager in light of the understanding that such duties are expected to be performed only at occasional or irregular intervals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Property Manager may delegate all or any of its duties under this Agreement to any Person who shall perform such delegated duties under the supervision of the Property Manager on such terms as the Property Manager shall determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any other provision of this Agreement to the contrary, the Property Manager shall not have the authority to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) acquire any asset or service for an amount equal to or greater than 1% of the value of the Asset as of such date, individually, or 3% of the value of the Asset as of such date, in the aggregate without the prior consent of the Sole Member of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) sell, transfer, encumber or convey the Asset, *provided*, *however*, that the Property Manager may deliver to the Sole Member of the Company any offers received by the Property Manager to purchase the Asset and any research or analysis prepared by the Property Manager regarding the potential sale of the Asset, including, without limitation, market analysis, survey results or information regarding any inquiries received and information regarding potential purchasers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Cooperation</u>. The Property Manager agrees to use reasonable efforts to make appropriate personnel available for consultation with the Company on matters pertaining to the Asset and to consult with the Sole Member of the Company regarding property management decisions with respect to the Asset prior to execution. The Sole Member of the Company may make any reasonable request for the provision of information or for other cooperation from the Property Manager with respect to its duties under this Agreement, and the Property Manager shall use reasonable efforts to comply with such request, including, without limitation, furnishing the Company with such documents, reports, data and other information as Sole Member of the Company may reasonably request regarding the Asset and the Property Manager's performance hereunder or compliance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Representations and Warranties</u>. Each party hereto represents and warrants that this Agreement has been duly authorized, executed and delivered by such party and constitutes the legal, valid and binding obligation of such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Limitation of Liability; Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) None of the Property Manager, its affiliates, or any of their respective directors, members, stockholders, partners, officers, employees or controlling persons (collectively, "**Managing Parties**") shall be liable to the Company for (i) any act or omission performed or failed to be performed by any Managing Party (other than any criminal wrongdoing) arising from the exercise of such Managing Party's rights or obligations hereunder, or for any losses, claims, costs, damages, or liabilities arising therefrom, in the absence of criminal wrongdoing, willful misfeasance or gross negligence on the part of such Managing Party, (ii) any tax liability imposed on the Company or the Asset, or (iii) any losses due to the actions or omissions of the Company or any brokers or other current or former agents or advisers of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the fullest extent permitted by applicable law, the Company will indemnify the Property Manager and its Managing Parties against any and all losses, damages, liabilities, judgments, costs and expenses (including, without limitation, reasonable attorneys' fees and disbursements) and amounts paid in settlement (collectively, "**Losses**") to which such person may become subject in connection with any matter arising out of or in connection with this Agreement, except to the extent that any such Loss results solely from the acts or omissions of a Managing Party that have been determined in a final, non-appealable decision of a court, arbitrator or other tribunal of competent jurisdiction to have resulted primarily from such Managing Party's fraud, willful misconduct or gross negligence. If this Section 5 or any portion hereof shall be invalidated on any ground by a court of competent jurisdiction, the Company shall nevertheless indemnify the Managing Party for any Losses incurred to the full extent permitted by any applicable portion of this Section that shall not have been invalidated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Property Manager gives no warranty as to the performance or profitability of the Asset or as to the performance of any third party engaged by the Property Manager hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Property Manager may rely upon and shall be protected in acting or refraining from action upon any instruction from, or document signed by, any authorized person of the Company or other person reasonably believed by the Property Manager to be authorized to give or sign the same whether or not the authority of such person is then effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Assignments</u>. This Agreement may not be assigned by either party without the consent of the other party. In performing its obligations under this Agreement, the Property Manager may, at its discretion, delegate any or all of its rights, powers and functions under this Agreement to any Person in accordance with section 2(d) without the need for the consent of the Company, provided that the Property Manager's liability to the Company for all matters so delegated shall not be affected by such delegation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Compensation and Expenses</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As compensation for services performed by the Property Manager under this Agreement, and in consideration therefor, the Company will pay a property management fee (the "**Property Management Fee**") to the Property Manager calculated in accordance with Appendix B hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth in Section 5, the Company will bear all expenses of the Asset and shall reimburse the Property Manager for any such expenses paid by the Property Manager on behalf of the Company together with a reasonable rate of interest (a rate no less than the Applicable Federal Rate (as defined in the Internal Revenue Code)) as may be imposed by the Property Manager in its sole discretion ("**Operating Expenses Reimbursement Obligation**"); *provided*, *however*, that the Company shall not pay or reimburse the Property Manager for the ordinary overhead and administrative expenses of the Property Manager, including, without limitation, all costs and expenses on account of rent, utilities, insurance, office supplies, office equipment, secretarial expenses, stationery, charges for furniture, fixtures and equipment, payroll taxes, travel, entertainment, salaries and bonuses, as well as costs related to ongoing property inspections, guest relations services, cleaning scheduling, inventory management, and vendor and repair scheduling, which in each case shall be borne by the Property Manager.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each party will bear its own costs relating to the negotiation, preparation, execution and implementation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Services to Other Clients; Certain Affiliated Activities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The relationship between the Property Manager and the Company is as described in this Agreement and nothing in this Agreement, none of the services to be provided pursuant to this Agreement, nor any other matter, shall oblige the Property Manager to accept responsibilities that are more extensive than those set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Property Manager's services to the Company are not exclusive. The Property Manager may engage in other activities on behalf of itself, any other Managing Party and other clients. The Company acknowledges and agrees that the Property Manager may, without prior notice to the Company, give advice to such other clients. The Property Manager shall not be liable to account to the Company for any profits, commission or remuneration made or received in respect of transactions effected pursuant to the Property Manager's advice to another client and nor will the Property Manager's fees be abated as a result.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Duration and Termination</u>. Unless terminated as set forth below, this Agreement shall continue in full force and effect until one year after the date on which the Asset has been liquidated and the obligations connected to such Asset (including, without limitation, contingent obligations) have terminated or, if earlier, the removal of the Company. Either party may terminate this Agreement immediately upon a material breach of the Agreement by the other party, without penalty or other additional payment, except that the Company shall pay the Property Management Fee of the Property Manager referred to in Section 7, pro-rated to the date of termination, together with all amounts outstanding under any Operating Expenses Reimbursement Obligation. Termination shall not affect accrued rights, and the provisions of Sections 4, 5, 7 (with respect to any accrued but unpaid fees and expenses), 8, 9, 11, 14 and 16 hereof shall survive the termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Power of Attorney</u>. For so long as this Agreement is in effect, the Company constitutes and appoints the Property Manager, with full power of substitution, its true and lawful attorney-in-fact and in its name, place and stead to carry out the Property Manager's obligations and responsibilities to the Company under this Agreement, solely with respect to the Asset.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Notices</u>. Except as otherwise specifically provided herein, all notices shall be deemed duly given when sent in writing by registered mail, overnight courier or email to the appropriate party at the following addresses, or to such other address as shall be notified in writing by that party to the other party from time to time:

If to the Company:

**[●]**

Attention: **[●]**

Email: **[●]**

If to the Property Manager:

**Collab CA LLC**

29 ORINDA WAY #536

ORINDA, CA 94563

Attention: Qin Wang

Email: alice_q_zhang@hotmail.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Independent Contractor</u>. For all purposes of this Agreement, the Property Manager shall be an independent contractor and not an employee or dependent agent of the Company nor shall anything herein be construed as making the Company a partner or co-venturer with the Property Manager, any other Managing Party or any of its other clients. Except as expressly provided in this Agreement or as otherwise authorized in writing by the Company, the Property Manager shall have no authority to bind, obligate or represent the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Entire Agreement; Amendment; Severability</u>. This Agreement states the entire agreement of the parties with respect to the subject matter hereof and supersedes any prior agreements relating to the subject matter hereof, and may not be supplemented or amended except in writing signed by the parties. If any provision or any part of a provision of this Agreement shall be found to be void or unenforceable, it shall not affect the remaining part, which shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Confidentiality</u>. All information furnished or made available by the Company or the Company to the Property Manager hereunder, or by the Property Manager to the Company hereunder, shall be treated as confidential by the Property Manager, or the Company, as applicable, and shall not be disclosed to third parties except as required by law or as required in connection with the execution of transactions with respect to the Asset and except for disclosure to counsel, accountants and other advisors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Definitions</u>. Words and expressions which are used but not defined in this Agreement shall have the meanings given to them in the Operating Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Governing Law; Jurisdiction</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement and the rights of the parties shall be governed by and construed in accordance with the laws of the State of California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The parties irrevocably agree that the Court of Chancery of the State of California is to have the exclusive jurisdiction to settle any disputes which may arise out of in connection with this Agreement and accordingly any suit, action or proceeding arising out of or in connection with this Agreement shall be brought in such courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Counterparts</u>. This Agreement may be executed in one or more counterparts with the same force and effect as if each of the signatories had executed the same instrument.

[*signature page follows*]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly appointed agents so as to be effective on the day, month and year first above written.

By: 

Name: 

Title: 

Date: 

By: 

Name: 

Title: 

Date: 

**APPENDIX A**

**The Assets**

The Assets shall comprise a residential property located at **[●]**

**APPENDIX B**

**Management Fees and Costs<sup>[1]</sup>**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Property Management Fee :** | &nbsp;&nbsp; 8% of Gross Receipts paid monthly in arrears for property management.<br>The term "Gross Receipts" shall mean all amounts actually collected by Property Manager as rents or other charges for use and occupancy of the Property including utility passthrough, parking, forfeited deposits, receipts from coin operated machines and other miscellaneous receipts collected by the Property but shall exclude all other receipts including, but not limited to, income derived from interest on investments or otherwise, proceeds of claims on account of insurance policies, abatement of taxes, and awards arising from eminent domain proceeding or the threat thereof, discounts, deposits and dividends on insurance policies. |
| &nbsp;&nbsp;**Repair & Maintenance Fee :** | &nbsp;&nbsp; A fee equal to the actual cost of Repair and Maintenance as incurred by the Property Manager, plus a 20% markup. This fee is billed monthly.<br>The term "Repair and Maintenance" shall mean costs directly associated with the upkeep and repair of the property, which are controllable by the Property Manager. These expenses include, but are not limited to, roof, building finishing, landscaping, electrical, plumbing, elevator repair & maintenance, fire inspection, building security, equipment/appliance repair & maintenance. |
| &nbsp;&nbsp;**Renovation Management Fee (if applicable):** | &nbsp;&nbsp;8% of total capital improvement cost for renovation management, paid monthly |
| &nbsp;&nbsp;**Acquisition Fee:** | &nbsp;&nbsp;2% of the contractual purchase price of the relevant property acquired, paid within five (5) days after the transaction is closed. |
| &nbsp;&nbsp;**Disposition Fee :** | &nbsp;&nbsp;2% of total sales price when the Asset is sold, paid within five (5) days after the sale is closed. |

---

<sup>[1]</sup> The management fees and costs serve as a general guideline. Please note that each individual property may have specific fee structures based on particular management agreements or local requirements.

## Exhibit 10.7

**Exhibit 10.7**

**LIMITED LIABILITY COMPANY AGREEMENT**

This Limited Liability Company Agreement (this "**Agreement**") of Collab-Gemini Real Estate Management LLC, a Nevada limited liability company (the "**Company**"), dated as of the is made and entered into by and among _____(the "**Local Member**"), having an address at _____, COLLAB Z INC., a Nevada corporation (the "**Collab Member**"), having an address at 29 Orinda Way, Unit 2060, Orinda, CA 94563 and the Company. The Local Member and the Collab Member are hereinafter collectively referred to as the "**Members**" and each individually as a "**Member**".

**RECITALS**

**WHEREAS**, the parties hereto desire to form a Nevada limited liability company for the purposes and on the terms and conditions hereinafter set forth.

**NOW, THEREFORE**, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

**ARTICLE I**

**THE COMPANY**

**Section I.01 Formation of the Company.** The Members hereby form a limited liability company pursuant to the provisions of the Nevada Revised Statutes Chapter 86 *et seq.*, the same may be amended from time to time (the "**Act**"). The rights, powers, duties, obligations, and liabilities of the Members shall be determined pursuant to the Act and this Agreement. To the extent that the rights, powers, duties, obligations, and liabilities of any Member are different by reason of any provision of this Agreement than they would be under the Act in the absence of such provision, this Agreement shall, to the extent permitted by the Act, control.

**Section I.02 Name of the Company.** The name of the Company is Collab-Gemini Real Estate Management LLC, and the business of the Company shall be conducted under that name or such other name as a Unanimous Vote of the Members (as such term is hereinafter defined in Section 5.07(c)) may from time to time deem appropriate.

**Section I.03 Purpose of the Company.** The Company shall engage solely in the business of, directly or indirectly, through one or more entities: (a) financing, refinancing, rehabilitating, operating, leasing, managing, holding for investment, exchanging, selling, and disposing of real estate properties, including the property located at 26A, 27A, 1B, 4511 Folker St, Anchorage, AK,99507 (the "**Initial Project**" and, together with any future real estate properties, the "**Projects**", and each a "**Project**"); (b) acquiring, owning, holding for investment, and disposing of ownership interests in entities that directly or indirectly own the Projects; and (c) such other activities as are related to or incidental to the foregoing. The Company may not conduct any other business without the consent of the Members required by the terms of this Agreement. The authority granted to a Member to bind the Company (as provided in Article V) shall be limited to actions necessary, convenient, or related to this business.

**Section I.04 Principal Place of Business; Registered Office and Agent.** The principal place of business of the Company shall be at [TBD]. The Company may locate its principal place of business at any other place or places, within or without the State of Nevada as shall be designated, from time to time, by the Members. For purposes of the Act, the registered office and statutory agent for service of process for the Company in the State of Nevada shall be: VCorp Services, LLC, 701 S. Carson Street, Suite 200, Carson City, NV 89701. The Members may change the registered office or agent for service of process for the Company from time to time as permitted under the Act.

**Section I.05 Articles of Organization.** Articles of Organization (the "**Articles**") have been filed in the office of the Secretary of State of the State of Nevada. The Members shall cause to be filed certificates of amendment to the Articles whenever required by the Act or this Agreement, together with any other documents required for qualification of the Company to do business where required.

**Section I.06 Investment Purposes.** Each Member represents that such Member is acquiring its Interest (as such term hereinafter defined in Section 2.05) in the Company for such Member's own account as an investment and without an intent to distribute such Interest. The parties acknowledge that Interests (as such term is hereinafter defined in Section 2.05 below) in the Company, to the extent considered to be securities, have not been registered under the Securities Act of 1933 or any state securities laws, and may not be disposed of by any Member without appropriate registration or the availability of an exemption from such requirement.

**Section I.07 Term of Company.** The term of the Company shall commence on the date of the filing of the Articles with the Secretary of State of Nevada and shall continue until the Company is dissolved in accordance with this Agreement or by law.

**Section I.08 Conformity with LLC Law.** This Agreement is the Operating Agreement concerning the Company provided for in the Act and the Company's Articles. This Agreement is to be interpreted to conform with the Act, but where inconsistent with or different than the provisions of the Act, this Agreement shall control except to the extent prohibited or ineffective under the Act. To the extent any provision of this Agreement is prohibited or ineffective under the Act, this Agreement shall be considered amended in order to make this Agreement effective under the Act. In the event that the Act is subsequently amended or interpreted in such a way as to make valid any provision of this Agreement that was formerly invalid, then such provision shall be considered to be valid from the effective date of such interpretation or amendment.

**ARTICLE II**

**CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS**

**Section II.01 Initial Capital Contributions.** The respective initial capital contributions (the "**Initial Capital Contributions**") and initial percentage interests of the Members in the Company (the "**Percentage Interests**") shall be as set forth on <u>Exhibit A</u> attached hereto. On or before 30 days from the execution of this agreement, each Member shall make their respective Initial Capital Contributions, the Collab Member's Initial Capital Contribution to be paid by the Local Member on behalf of the Collab Member out of the proceeds of the Initial Equity Sale (as defined below) and shall be deemed to have been made by the Collab Member. Capital Contributions shall be credited to the contributing Member's Capital Account (as such term is defined in Section 2.06) at the time of such contribution to the Company. The Members shall update <u>Exhibit A</u> upon the issuance or Transfer of any Interests (as defined in Section 2.05 below) to any new or existing Member in accordance with this Agreement. For purposes of this Agreement, "Capital Contributions" shall collectively mean all Initial Capital Contributions and any Additional Capital Contributions (as defined in Section 2.02). "**Initial Equity Sale**" means the sale of equity securities of the Collab Member to the Local Member consummated pursuant to the Subscription Agreement attached hereto as Exhibit B. "**Initial Shares**" means the number of shares purchased pursuant to the Initial Equity Sale.

**Section II.02 Additional Capital Contributions.** The Members are not intended to have personal liability for the obligations of the Company above their actual Capital Contributions. in the event that at any time prior to the Collab IPO (as defined below) the Company require capital contributions in excess of the Initial Capital Contributions (the "**Additional Capital Contributions**", and, together with the Initial Capital Contributions, the "**Capital Contributions**"), the Members, by Unanimous Vote (as such term is hereinafter defined in Section 5.07(c)), may decide that additional capital is required to operate the Company and/or any of the Projects. In such event, a contribution request (a "**Contribution Request**") shall be sent to all the Members, in writing, stating the amount of capital sought (the "**Requested Amount**") and the proposed terms of any Equity Sale by the Collab Member to the Local Member, the proceeds of which shall be used to fund such Additional Capital Contributions (each such sale, a "**Subsequent Equity Sale**" and, collectively, the "**Subsequent Equity Sales**"). In the event that the Members have approved any such Additional Capital Contributions, the Members shall contribute the amounts called for within ten (10) business days after the closing of the Subsequent Equity Sale relating to such Additional Capital Contributions, and such Contribution Request shall specify each Member's proportionate share of the Requested Amount, and the purpose therefor. The then-present Members shall make such contributions pro rata to their then-Percentage Interests. The Collab Member's Additional Capital Contribution shall be paid by the Local Member on behalf of the Collab Member out of the proceeds of such Subsequent Equity Sale and shall be deemed to have been made by the Collab Member. If any Member does not contribute such Member's full pro rata share, then the terms of Section 2.03 shall govern.

**Section II.03 Failure to Make Contributions.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Member fails to make any Additional Capital Contribution pursuant to Section 2.02, as and when due, then such Member shall be referred to as a "**Non- Contributing Member**" and each of the contributing Members shall be referred to herein as a "**Contributing Member**."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Member fails to make any Additional Capital Contribution pursuant to Section 2.02, as and when due, then each of the Contributing Members shall have the right, but not the obligation, upon ten (10) days' prior written notice to the Non- Contributing Member to make a Capital Contribution to the Company in the amount of the Additional Capital Contribution which the Non-Contributing Member failed to contribute, together with the amount of the Additional Capital Contribution which the Contributing Member was to contribute pursuant to Section 2.02 (collectively, a "**Shortfall Contribution**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upon making such Shortfall Contribution, the Percentage Interest of each Contributing Member shall automatically, and without further act on the part of any party, be increased (and the Percentage Interest of the Non-Contributing Member shall automatically, and without further act on the part of any party, be correspondingly decreased), to be the percentage equal to a fraction: (i) the numerator of which is the sum of: (A) three (3) times the amount of such Shortfall Contribution; and (B) the amount of the actual Capital Contributions of the Contributing Member (not counting the amount in clause (A) immediately preceding); and (ii) the denominator of which is the sum of the total Capital Contributions contributed by all the Members to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Without limiting the generality of the foregoing, the sole remedies available to the Contributing Members and the Company in the event one or more Members fails to make an Additional Capital Contribution pursuant to Section 2.02 shall be the ability of such Contributing Members to make a Shortfall Contribution to the Company in accordance with Section 2.03(b).

**Section II.04 Effect of Failure to Meet Collab IPO Deadline.** In the event that Collab Fails to consummate an initial public offering of its securities (the "**Collab IPO**") on or prior to December 31, 2026 (the "**Collab IPO Deadline**"); provided, that such deadline shall be extended upon the occurrence of a Force Majeure Event (as defined below) for the duration of such Force Majeure Event:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Local Member shall have the option to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Surrender all securities of the Collab Member purchased pursuant to an Equity Sale; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Receive in exchange for such surrendered securities the Collab Member's Interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Collab Member shall pay the Local Member an amount equal to the total Capital Contributions made by the Local Member as of the option exercise date minus the total distributions received by the Local Member as of the option exercise date, such amount to be based on the books and records of the Company maintained pursuant hereto, which amount shall be conclusive and binding, absent manifest errors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Collab Member shall have the option to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Surrender all Collab Member's Interests; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Receive in exchange for such surrendered interests the securities of the Collab Member purchased pursuant to an Equity Sale.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Collab Member shall pay the Local Member an amount equal to the total Capital Contributions made by the Local Member as of the option exercise date minus the total distributions received by the Local Member as of the option exercise date, such amount to be based on the books and records of the Company maintained pursuant hereto, which amount shall be conclusive and binding, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event that both the Local Member and Collab Member elect to exercise their respective options under Section 2.04 concurrently, the Collab Member's right to exercise shall take precedence.

"**Force Majeure Event**" means an event beyond the reasonable control of the Company (including, without limitation, any act or provision of any present or future law or regulation, any act of God, pandemic, epidemic, war, civil or military disorder, riot, terrorism, fire, earthquake, storm, flood, strike, work shortage or similar occurrence that adversely affect the Company, its business or financial condition.

**Section II.05 Withdrawal and Return of Capital to Members.** Except as otherwise provided in this Agreement: (a) no Member may withdraw any portion of the capital of the Company; (b) no Member shall be entitled to the return of its Capital Contribution; (c) under circumstances requiring a return of any Capital Contributions, no Member shall have the right to receive property other than cash; and (d) no interest shall be paid on any Capital Contribution to the Company.

**Section II.06 Title to Company Property.** All Company assets shall be owned by the Company as an entity and, insofar as permitted by applicable law, no Member shall have any ownership interest in the Company assets in its individual name or right, and each Member's ownership interest in the Company ("**Interest**") shall be personal property for all purposes.

**Section II.07 Maintenance of Capital Accounts.** The Company shall establish and maintain for each Member a separate capital account (a "**Capital Account**") reflecting the Capital Contributions made by such Member, the profits and losses allocated to such Member, and the distributions made to such Member.

**Section II.08 No Obligation to Restore Negative Balances in Capital Accounts.** No Member shall have an obligation, at any time during the term of the Company or upon its liquidation, to pay to the Company or any other Member or third party an amount equal to the negative balance in such Member's Capital Account.

**Section II.09 Liability of Members.** Except as otherwise expressly provided in the Act, the debts, obligations, and liabilities of the Company, whether arising in contract, tort, or otherwise, shall be solely the debts, obligations, and liabilities of the Company, and no Member shall be obligated personally for any such debt, obligation, or liability solely by reason of being a Member. Except as otherwise expressly provided in the Act, the liability of each Member shall be limited to the amount of Capital Contributions required to be made by such Member in accordance with the provisions of this Agreement, but only when and to the extent the same shall become due pursuant to the provisions of this Agreement. The provisions of this Section shall not be deemed to modify, waive, or limit the personal obligations and liabilities (if any) of the Members to each other as specifically provided in this Agreement (including, without limitation, in Sections 2.01 and 2.02).

**ARTICLE III**

**ALLOCATIONS**

**Section III.01 Allocation of Net Income and Net Loss.** For each fiscal year (or portion thereof), all items of income, profits, losses, credits, and deductions of the Company shall be allocated among the Members in proportion to their Percentage Interests.

**Section III.02 Allocations to Assigned Interests.** In the event of a transfer of Interests during any fiscal year made in compliance with the provisions of Article VII, items of income, gain, loss, and deduction of the Company attributable to such Interests for such fiscal year shall be determined using the interim closing of the books method.

**ARTICLE IV**

**DISTRIBUTIONS**

**Section IV.01 Distributions.**

&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) All available cash of the Company, after allowance for all reasonable costs and expenses incurred by the Company and for such reasonable reserves as the Members shall determine, shall be distributed, on a quarterly basis, in the following order of priority:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) First, to pay interest and then principal on account of all outstanding loans (if any) made to the Company by the Members (it being understood and agreed that: (A) all such loans shall be repaid in the reverse order of priority in which they were made (such that loans made later in time will have a higher repayment priority than those made earlier in time); and (B) all such loans having the same repayment priority shall be repaid to the applicable Contributing Members on a pro rata basis);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Second, to the Members, in the same proportion to each Member as such Member's unreturned Capital Contributions bear to the aggregate total unreturned Capital Contributions for all Members, until the amount of each Member's unreturned Capital Contributions has been reduced to zero as of the date immediately prior to the making of such distribution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Third, to the Members, pro rata, in accordance with their respective Percentage Interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All amounts withheld or required to be withheld pursuant to the Internal Revenue Code of 1986, as amended from time to time (or any corresponding provisions of succeeding law) (the "**Code**") or any provision of any state, local, or foreign tax law with respect to any payment, distribution, or allocation to the Company or any Member and treated by the Code (whether or not withheld pursuant to the Code) or any such tax law as amounts payable by or in respect of any Member or any person owning an interest, directly or indirectly, in such Member shall be treated as amounts distributed to the Member with respect to which such amount was withheld pursuant to this Section 4.01(b) and Section 8.03 for all purposes under this Agreement. The Company is authorized to withhold from distributions, or with respect to allocations, to the Members and to pay over to any federal, state, local, or foreign government any amounts required to be so withheld pursuant to the Code or any provisions of any other federal, state, local, or foreign law and shall allocate any such amounts to the Member with respect to which such amount was withheld.

**Section IV.02 Tax Distributions.** To the extent that distributions pursuant to Section 4.01(a) for the current tax year have been insufficient, and provided that the Company has adequate cash available in excess of reasonable reserves as determined by a Unanimous Vote, the Company shall, before April 15, June 15, September 15, and January 15 of each year (or such other dates by which installment tax contributions may be due), make a distribution in cash in the amount necessary to allow the Members to pay the estimated or actual taxes due on each such date attributable to the income of the Company to be allocated to the Members.

**ARTICLE V**

**MANAGEMENT**

**Section V.01 Control and Management.** Management of the Company shall be vested in the Members in accordance with this Article V. Notwithstanding such authority, each Member may manage the affairs of the Company in conjunction with such Member's other business interests and activities, which may be competitive with or in direct competition with the business of the Company, and shall not be obligated to devote all or any particular part of such Member's time and effort to the Company and its affairs.

**Section V.02 Approval of Actions.** Subject to Section 5.05 below, the approval of the Members, by Unanimous Vote, unless otherwise required by the Act, the Articles, or this Agreement shall be required for all executive level decisions. The Members may delegate general managerial functions and issues regarding day-to-day operations to individual Members or other designees (which Members or designees may be given such title(s) as the Members may determine). Once an action has been approved, any Member may execute agreements or otherwise bind the Company on such Member's signature alone and may do all things necessary or convenient to carry out the action so approved.

**Section V.03 Banking.** The Company shall maintain such bank and other financial accounts as the Members by Unanimous Vote may determine. The Members and such persons as the Members shall appoint shall be authorized to sign checks on behalf of the Company in such manner as determined by the Members by Unanimous Vote.

**Section V.04 Standard of Care.** In managing the Company, a Member shall perform the management duties in accordance with such Member's good faith business judgment of the best interests of the Company. The standard of care to be used shall be no greater than that required by the Act of a standard of care required by the Act, or any successor provision of law establishing a required standard of care. Unless a Member has knowledge or information concerning the matter in question that makes reliance unwarranted, a Member is entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by:

&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) One or more Members, agents, or employees of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Legal counsel, public accountants, or other persons as to matters the Member believes, in good faith, are within the person's professional or expert competence; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A committee of the Members of which the Member is not a member, if the materials presented are within such committee's designated authority and the Member believes, in good faith, that the committee merits confidence.

**Section V.05 Actions Requiring Unanimous Vote.** Notwithstanding any provision of this Agreement to the contrary, the taking of any of the following actions shall require a Unanimous Vote of Members (as such term in defined in Section 5.07(c)):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The sale or exchange of all or substantially all of the assets of the Company (including any of the Projects or any portion thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The making of Additional Capital Contributions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The acquisition, by purchase, exchange, lease, or otherwise, of any real or personal property by the Company (other than acquisition of the Initial Project);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The admission of new Members, including, without limitation, upon withdrawal of a Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The borrowing of any money by the Company in excess of $10,000 or the granting of any lien, claim, encumbrance, or security interest by the Company with respect to any asset of the Company, as security for the debts and obligations of the Company or otherwise or the modification, extension, renewal, or prepayment in whole or in part of any borrowing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The modification or amendment of any provision of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Any change in nature of the business of the Company or the entrance by the Company into any business other than the business described in Section 1.03;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The entering into or amendment, modification, or termination of any contracts, agreements, or arrangements with any affiliates of a Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The merger, consolidation, dissolution, winding-up of the Company, or the filing by the Company of a voluntary petition for reorganization or liquidation under any federal or state law for the relief of debtors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The consent or acquiescence to the filing of any involuntary petition for liquidation or reorganization under any federal or state law for the relief of debtors; 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;(k) The approval of annual business plans and budgets of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The expenditures not included within the approved budget.

**Section V.06 Compensation of Members and Member Affiliates.** Except as provided in this Agreement or any other written agreement approved by the Members, no Member or affiliate thereof shall be entitled to any fees or compensation from the Company.

**Section V.07 Meetings and Voting.**

&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) Regular meetings of Members shall be held at least annually and special meetings may be held at any time and from time to time as may be necessary or appropriate. Special meetings shall be held at the request of any Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Meetings of Members shall be held on at least fifteen (15) days' written notice given by any Member. Any notice shall set forth the time and place of the meeting and shall state the name of the Member(s) authorizing the calling of the meeting. The notice need not state the purpose of the meeting. Notice may be waived, in writing, before, at, or after any meeting. Attendance at any meeting without protesting the lack of notice thereof, prior to the end of such meeting, shall be deemed a waiver of notice. Notice shall be given pursuant to Section 10.01 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Member entitled to vote on a matter shall be entitled to a vote pro rata to such Member's Interest in the Company. Each Member shall be entitled to vote on any matter submitted to a vote of Members except as restricted by the Act or restricted by the Articles or this Agreement in accordance with the Act. A Member shall not be entitled to vote on any matter concerning a transfer of such Member's Interest or the reconstitution of the Company where such Member's action has caused the dissolution of the Company. As used in this Agreement, an action requiring a "**Majority Vote**" or a "**Majority Vote of Members**" refers to an action that must receive the affirmative vote of Interests representing at least a majority of the Interests held by Members entitled to vote. As used in this Agreement, an action requiring a "**Unanimous Vote**" or a "**Unanimous Vote of Members**" refers to an action that must receive the affirmative vote of all of the Interests held by Members entitled to vote. Except as otherwise required by the Act, any matter to be voted on by Members that is not specified as requiring either a Majority Vote or a Unanimous Vote shall require a Majority Vote.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any action otherwise requiring a vote of Members may, instead, be approved by written consent without a meeting or at a meeting, but without a vote, if such written consent shall be signed by Members who hold Interests entitled to vote on such action having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all of the Members entitled to vote therein were present and voted. Any such written consent shall be delivered to the office of the Company or any Member having custody of the Company's records by hand or by certified mail, return receipt requested. Prompt notice of the taking of an action by less than unanimous written consent shall be given to those Members who have not consented in writing but who would have been entitled to vote thereon had such action been taken at a meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any Member may participate in any vote of Members or written consent of Members in person or by proxy.

**Section V.08 Non-Competition; Conflicts of Interest.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Local Member shall be prohibited from entering into transactions that are considered to be competitive with, or pursue business opportunities that may be beneficial to, the Company unless (i) such Member obtains the prior written consent of the other Member; or (ii) such transaction or business opportunity is in the following geographic areas: [Taxes, Alaska, New Jersey] (the "**Territory**"). It is expressly understood that the Members may enter into transactions that are similar to the transactions into which the Company may enter outside the Territory.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Member may lend money to and transact other business with the Company. The rights and obligations of a Member who lends money to or transacts business with the Company are the same as those of a person who is not a Member, subject to other applicable law. No contract or other transaction with the Company shall be either void or voidable solely because a Member has a direct or indirect interest in the transaction if either: (i) the transaction is fair and reasonable to the Company at the time approved; or (ii) the disinterested Members (by Majority Vote), knowing the material facts of the transaction and the Member's interest, authorize, approve, or ratify the transaction.

**Section V.09 Investment Purposes.** Each Member represents that it is acquiring such Member's Interest in the Company for such Member's own account as an investment and without an intent to distribute such interest. The parties acknowledge that Interests in the Company, to the extent considered to be securities, have not been registered under the Securities Act of 1933 or any state securities laws, and may not be disposed of by any Member without appropriate registration or the availability of an exemption from such requirement.

**Section V.10 Indemnification of Members.** To the extent of the Company's assets, the Company agrees to indemnify the Members and their officers, directors, partners, shareholders, members, advisors, agents, and affiliates (each, an "**Indemnified Party**," and collectively, the "**Indemnified Parties**") to the fullest extent permitted by the Act and to defend, protect, save, and hold them harmless from and in respect of all fees, costs, losses, damages, and expenses (including reasonable attorneys' fees) incurred in connection with or resulting from any claim, action, or demand arising out of or in any way relating to the Company or any of its assets or properties, including amounts paid in settlement or compromise (if recommended by the Company's counsel) of any such claim, action, or demand and all fees, costs, and expenses (including reasonable attorneys' fees) in connection therewith. Notwithstanding the foregoing, indemnification shall not be available or paid to any Indemnified Party with respect to any matter as to which such Indemnified Party shall have committed an act or omission (where such Indemnified Party had a contracted duty to act) involving willful misconduct, fraud, or gross negligence. The indemnification provided pursuant to this Section 5.10 shall be in addition to any other rights to which an Indemnified Party may be entitled under any agreement or vote of the Members, as a matter of law or equity, or otherwise, and shall continue as to an Indemnified Party who is a Member but who has ceased to serve in that capacity, and shall inure to the benefit of the heirs, successors, assigns, and administrators of the Indemnified Parties.

**Section V.11 Respective Members' Responsibilities.** The Members' respective responsibilities are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Local Member shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) At the time of the formation of the Company, retain the Company to provide property management services for the group of properties identified in EXHIBIT E. The specific terms and conditions governing such services shall be set forth in the Property Management Agreement, substantially in the form attached hereto as EXHIBIT D, to be executed between the respective property owners and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Identify business opportunities in the Territory and present them to the Collab Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Represent and engage personnel to be members of a local property management team for each Property and manage such team in its implementation of the Collab community property management system ("**CPMS**") in accordance with the property management template attached hereto as Exhibit D;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Be responsible for the Company's compliance with all applicable laws and regulations, including, without limitation, obtaining licenses, registering with local and state governmental authorities and filing all reported tax returns; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) From the date of consummation of the Collab IPO until the six (6)- month anniversary thereof or such longer period as required by the underwrites in connection with the Collab IPO, agree to lock up all shares received in all Equity Issuances consummated prior to the date of the consummation of the Collab IPO pursuant to a lock up agreement in form and substance satisfactory to Collab Z (the "**Lock-Up Restrictions**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Collab Member shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Use commercially reasonable efforts to consummate the Collab IPO by the Collab IPO Deadline;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) Be responsible for the continued development and maintenance of CPMS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Assist the members of the local property management team in the implementation of CPMS in all Projects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Deliver to the Company a trademark license for the use of the Collab trademarks listed herein (the "**Collab Trademarks**"), which license shall include the usage guidelines for the Collab Trademarks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) In compliance with applicable SEC regulations, shall implement an employee equity ownership plan (the "**Plan**"), pursuant to which all employees of the Company shall be eligible to participate, subject to the terms and conditions set forth in the Plan.

**Section V.12 Issuance of Additional Collab Equity.** In the event that after the Collab Member's Percentage Interest exceeds fifty-one percent (51%) of the total Interests and the equity issued in the Collab IPO does not trade at Reference Price (as defined in Exhibit C) per share (as adjusted to reflect any splits, stock combination and similar transactions) at any time during the period commencing on the date of the Collab Member's Interest in the Company exceed fifty-one percent (51%) of the total Interests issued and ending on the two-year anniversary of such date (the "**Reference Period**"), (i) the Collab Member shall issue to the Local Member the number of shares determined in accordance with the formula set forth in Exhibit C attached hereto; and (ii) the Local Member shall cooperate with the Collab Member to make such changes to this Agreement and the operations of the Company as are necessary to comply with all accounting and regulatory requirements the Collab Member and the Company become subject to (as determined by the Collab Member) as a result of the Collab Member's Interest in the Company exceeding fifty-one (51%) of the total interests.

**Section V.13 System Usage Fee.** In the event the Company elects to utilize the CPMS, the Company shall pay the Collab Member a monthly fee of $500 per Property for CPMS usage.

**Section V.14 Branding.** The Company shall conduct its business using the Collab Trademarks.

**ARTICLE VI**

**ACCOUNTING; REPORTING; TAX MATTERS**

**Section VI.01 Company Accounting Practices.** The Members shall maintain or cause to be maintained at all times true and correct books, records, reports, and accounts in which shall be entered fully and accurately all transactions of the Company. The books and records of the Company shall be kept in accordance with generally accepted accounting principles, consistently applied, unless otherwise required under the Code or unless otherwise approved by the Members. The accountants for the Company shall be selected by the Members.

**Section VI.02 Access to Records.** Each Member and its duly authorized representative, attorney, or attorney-in-fact of any of them, shall have the right, upon reasonable request, to inspect and copy, during normal business hours, any and all Company records and documents relating to the Project.

**Section VI.03 Income Tax Information.** The Company shall provide each Member, at such Member's cost, upon reasonable request, with such information as shall be reasonably required by such Member in order to enable it to file any of its tax returns and shall also from time to time furnish such other information available to the Company as such Member may reasonably request for the purpose of enabling it to comply with any reporting, filing, or other requirements imposed by any statute, rule, regulation, or otherwise by any governmental agency or authority or with its own internal rules, regulations, and policies generally applicable with respect to investments of this nature.

**Section VI.04 Company Tax or Information Returns.** The Partnership Representative (as such term is defined in Section 6.10(a) hereof) shall cause to be prepared and timely filed all tax returns required to be filed by or for the Company. The Company shall send to each Member a copy of the Company's approved federal, state, and local income tax or information returns for the then previous taxable year at least fifteen (15) days prior to the due date therefor.

**Section VI.05 Banking.** The Company shall maintain one or more separate bank accounts as the Members shall determine in the name of the Company with a federally insured, reputable bank or other financial institution in which there shall be deposited funds of the Company. No other funds shall be deposited in said accounts. The funds in said accounts shall be used solely for the business of the Company, and all withdrawals therefrom are to be made only by such Members or such other persons as the Members may from time to time designate.

**Section VI.06 Financial Reports.** The Members shall be responsible, at the expense of the Company, for the preparation of financial reports of the Company and the coordination of financial matters of the Company with the Company's accountants. Within thirty days (30) days after the end of each fiscal year and within fifteen (15) days after the end of each fiscal quarter, the Company, at the expense of the Company, shall cause each Member to be furnished with a copy of the balance sheet of the Company as of the last day of the applicable period, and a statement of income or loss for the Company for such period.

**Section VI.07 Fiscal Year.** The fiscal year of the Company shall be the calendar year, unless otherwise approved by the Members or as otherwise required pursuant to the Code and the Income Tax Regulations promulgated thereunder. As used in this Agreement, a fiscal year shall include any partial fiscal year at the beginning and end of the Company term.

**Section VI.08 Election of Adjusted Basis.** In the event of a transfer of all or part of the Interest of a Member, the Company shall, upon request by a Member, elect, on behalf of the Company, to adjust the basis of the Project pursuant to Section 754 of the Code, provided that no material adverse income tax consequence shall result to the Company or any Member.

**Section VI.09 Income Tax Status.** It is the intent of the Company and the Members that the Company shall be treated as a partnership for U.S. federal, state, and local income tax purposes. The Partnership Representative (as hereinafter defined) is hereby authorized and shall take all actions necessary to qualify the Company as a partnership for federal income tax purposes in accordance with Regulation Section 301.7701-3 (and/or comparable provisions of state and local law).

**Section VI.10 Partnership Representative.**

&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) **Appointment; Resignation.** Ding Ma shall be designated as the "partnership representative" (the "**Partnership Representative**") as provided in Code Section 6223(a) (as amended by the Bipartisan Budget Act of 2015 ("**BBA**")). The Partnership Representative may resign at any time if there is another Member to act as the Partnership Representative. The Partnership Representative can be removed at any time by the affirmative Vote of a majority of the other Members, and shall resign if it is no longer a Member. In the event of the resignation or removal of the Partnership Representative, a majority of the other Members shall select a replacement Partnership Representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Tax Examinations and Audits.** The Partnership Representative is authorized and required to represent the Company in connection with all examinations of the Company's affairs by any federal, state, local, or foreign taxing authority, including resulting administrative and judicial proceedings, and to expend Company funds for professional services and costs associated therewith. All expenses incurred in connection with any audit, investigation, settlement, or review by the IRS or any other governmental authority shall be borne by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **BBA Elections.** To the extent permitted by applicable law and regulations, the Partnership Representative on behalf of the Company shall annually elect out of the partnership audit procedures enacted under Section 1101 of the BBA ("the **BBA Procedures**") pursuant to Code Section 6221(b), as amended by the BBA. For any year in which applicable law and regulations do not permit the Company to elect out of the BBA Procedures, then within forty-five (45) days of any notice of final partnership adjustment, the Company shall elect the alternative procedure under Code Section 6226, as amended by the BBA, and furnish to the Internal Revenue Service and each Member (including former Members) during the year or years to which the notice of final partnership adjustment relates, a statement of the Member's share of any adjustment set forth in the notice of final partnership adjustment.

**ARTICLE VII**

**TRANSFERS**

**Section VII.01 Prohibited Transfers.** Without the prior written consent of the other Member (which consent may be granted or withheld in such Member's sole discretion), except as permitted pursuant to Section 7.02, no Member shall sell, hypothecate, pledge, encumber, assign, or otherwise transfer (a "**Transfer**"), with or without consideration, all or any portion of its Interest in the Company to any other person or entity (a "**Transferee**"). No Transfer of Interests to a person not already a Member of the Company shall be deemed completed until the prospective Transferee is admitted as a Member of the Company in accordance with Section 7.05 hereof.

**Section VII.02 Permitted Transfers.** The provisions of Section 7.01 shall not apply to any Transfer by any Member of all or any portion of its Interest to any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any affiliate of such Member; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Such Member's: (i) spouse, parent, siblings, descendants (including adoptive relationships and stepchildren), and the spouses of each such natural persons (collectively, "**Family Members**"); (ii) a trust under which the distribution of Interests may be made only to such Member and/or any Family Member of such Member; (iii) a charitable remainder trust, the income from which will be paid to such Member during such Member's life; (iv) a corporation, partnership, or limited liability company, the stockholders, partners, or members of which are only such Member and/or Family Members of such Member; or (v) by will or by the laws of intestate succession, to such Member's executors, administrators, testamentary trustees, legatees, or beneficiaries.

**Section VII.03 Prohibition on Assignments Violating Securities Laws.** No Transfer of any Member's Interest shall be made if counsel for the Company shall be of the opinion that such transfer or assignment would be in violation of any federal or state securities laws applicable to the Company.

**Section VII.04 Transfers in Violation of Restrictions Void.** Any Transfer in contravention of any of the provisions of this Article VII shall be void and of no force or effect and shall not bind or be recognized by the Company.

**Section VII.05 Transfer of Entire Interest.** For the avoidance of doubt, any Transfer of a Member's Interest permitted by this Agreement shall be deemed a sale, transfer, assignment, or other disposal of such Member's Interest, and shall not be deemed a sale, transfer, assignment, or other disposal of any less than all of the rights and benefits of a Member, unless otherwise explicitly agreed to by the parties to such Transfer.

**Section VII.06 Substituted Members.** Subject to the provisions of this Article VII, any Transferee may become a "**Substituted Member**" (herein so called) when all of the following conditions have been satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A duly executed and acknowledged written instrument of assignment shall have been filed with the Company, which instrument shall specify the Member Interest being assigned and set forth the intention of the assignor that the Transferee succeed to the assignor's Interest as a Substituted Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The assignor and Transferee shall have executed such other instrument(s) as the Members may deem necessary or desirable to effect such substitution, including the written acceptance and adoption by the Transferee of the provisions of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If required, the written consent of the Members to such substitution shall have been obtained, the granting or denial of which shall be within the sole discretion of the Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Transferee has complied with the requirements of Section 9.02; 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;(e) The other provisions of this Article VII shall have been complied with.

**ARTICLE VIII**

**DISSOLUTION AND LIQUIDATION**

**Section VIII.01 Dissolution and Winding Up.** The Company shall be dissolved, and its affairs shall be wound up, upon the occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A written consent to dissolution is signed by all of the Members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All or substantially all of the Company's assets are sold or otherwise disposed of, and the only property of the Company consists of cash from such sale or disposition available for distribution to the Members; provided that the legal existence of the Company may be continued until the last day of its usual taxable year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A decree of judicial dissolution is entered under the Act.

**Section VIII.02 Responsibility for Winding Up.** Upon the dissolution of the Company, the affairs of the Company shall be wound up by the Members. If the Members wind up the Company's affairs, they shall be entitled to reasonable compensation.

**Section VIII.03 Liquidation and Distribution.** Notwithstanding anything set forth in this Agreement to the contrary, the person(s) responsible for winding up the affairs of the Company pursuant to Section 8.02 shall take full account of the Company's assets and liabilities, shall liquidate the assets of the Company as promptly as is consistent with obtaining the fair market value thereof, and shall apply and distribute the proceeds in the following order of priority (with noncash items being valued at fair market value, as reasonably determined by the persons responsible for the winding-up):

&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) First, to pay all outstanding third-party debts and liabilities of the Company (to the extent that such debts and liabilities are then due);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Second, to fund a reasonable reserve for contingent liabilities of the Company (after passage of a reasonable time the balance, if any, in said reserve shall be distributed as set forth below);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Third, to pay all Member loans in accordance with Section 4.01(a)(i); 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;(d) Fourth, all remaining proceeds shall be distributed in accordance with Sections 4.01(a)(ii) and 4.01(a)(iii). Such distribution required by this Section 8.03(d) shall be made by the end of the fiscal year in which such dissolution occurs, or, if later, within ninety (90) days after the date of such dissolution.

It is the intention of the Members that the positive Capital Account balance of each Member immediately prior to the receipt of any liquidating distributions by such Member will be equal to the amount distributable to such Member pursuant to Section 4.01(a)(ii); in the event that a Member's Capital Account is not equal to such amount, the allocations of profit and loss, or items thereof (including items of gross income and deductions) for the tax year of the Company ending with the liquidation shall be allocated in such a way so as to cause each Member's Capital Account to equal the amount that such Member is entitled to receive pursuant to Section 4.01(a)(ii).

**Section VIII.04 Requirements Upon Liquidation.** Notwithstanding anything set forth in this Agreement to the contrary, in the event the Company is "liquidated" (or any Member's Interest in the Company is "liquidated") (as that term is defined in Regulation Section 1.704-1(b)(2)(ii)(g)) and any Member's Capital Account (or, as the case may be, the Capital Account of the Member whose Interest is "liquidated") has a deficit balance, such Member(s) shall have no obligation to restore such deficit balance or otherwise contribute to the capital of the Company.

**Section VIII.05 Cancellation of Articles.** Upon the completion of the winding up of the Company's affairs, the Members conducting the winding up of the Company's affairs shall execute and file in the office of the Secretary of State of the State of Nevada a certificate of cancellation or other such document required by the Secretary of State of the State of Nevada.

**ARTICLE IX**

**MEMBER REPRESENTATIONS AND COVENANTS**

**Section IX.01 Representations, Warranties, and Acknowledgments by Members.** Each Member represents, warrants, and acknowledges, as to itself only, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) It is purchasing its Interest for its own account and not with a view to or for sale in connection with any distribution of the Interest acquired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) It has been given ample opportunity to ask questions of and receive answers concerning the Company's business and/or the Initial Project and to obtain any additional information necessary to verify the accuracy of the information provided to the Members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) It acknowledges that it is purchasing its Interest in reliance solely on: (i) its inspection of the Initial Project or, if none, its independent determination not to make such an inspection; (ii) such Member's independent verification (to the extent such Member has deemed such verification necessary) of the accuracy of any: (A) documents delivered to the Member; and (B) statements made to the Members concerning the Initial Project and the Company; and (iii) the opinions and advice concerning the Initial Project and the Company of third-party consultants and/or advisors to the extent engaged by such Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) It is an "accredited investor" (as defined in Regulation D promulgated under the Securities Act of 1933, as amended (the "**Securities Act**")).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) It: (i) has adequate net worth; (ii) has no need for liquidity in this investment; (iii) is able to bear the substantial economic risks of an investment in the Company for an indefinite period; and (iv) at the present time, can afford a complete loss of such investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) It acknowledges that neither the offering nor the sale of the Interests has been registered under the Securities Act, or state securities laws, in reliance upon exemptions therefrom for nonpublic offerings. It understands and agrees that the Interests must be held indefinitely unless the sale or other transfer thereof is subsequently registered under the Securities Act and applicable state securities laws or an exemption from such registration is available. It further acknowledges that the Company is under no obligation to register the Interests on its behalf or to assist it in complying with any exemption from registration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) It acknowledges that it may not be able to sell or dispose of its Interests as there will be no public market for them. In addition, it understands that its right to transfer the Interests will be subject to the conditions set forth in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Neither it nor any partner, member, or stockholder of such Member is, and no legal or beneficial interest in a partner, member, or stockholder of such Member is or will be held, directly or indirectly by a person or entity that appears on a list of individuals and/or entities for which transactions are prohibited by the US Treasury Office of Foreign Assets Control or any similar list maintained by any other governmental authority, with respect to which entering into transactions with such person or entity would violate the USA PATRIOT Act or regulations or any Presidential Executive Order or any other similar applicable law, ordinance, order, rule, or regulation.

**Section IX.02 Corporate Transparency Act Compliance.**

&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) Capitalized terms used in this Section 9.02 have the meanings set forth below.

"**Acceptable Identification Document**" means, with respect to a natural person, one of the following documents validly issued to such person: (i) a nonexpired U.S. passport issued by the U.S. government; (ii) a nonexpired U.S. state, local government, or Indian tribal identification document issued for the purpose of identifying such person; (iii) a nonexpired U.S. state-issued driver's license; or (iv) if such person does not have any of the documents listed in clauses (i) to (iii), a nonexpired passport issued to such person by a foreign government.

"**CTA**" means the Corporate Transparency Act (31 U.S.C. § 5336) enacted as part of the National Defense Authorization act for Fiscal Year 2021, as amended, and the rules and regulations promulgated thereunder.

"**CTA Information**" means, with respect to a natural person: (i) the full legal name of such Person, including any suffix; (ii) their date of birth; (iii) their complete current residential street address, including any apartment or suite number; (iv) a unique identifying number from an Acceptable Identification Document issued to such person; and (v) an image of such Acceptable Identification Document of sufficient quality that includes: (A) a legible image of such unique identifying number; and (B) a recognizable photograph of such person.

"**Indirect Owner**" means, with respect to any Entity Member, any natural person who from time to time, directly or indirectly, owns or controls any Ownership Interest (as defined in the CTA) in the Company through such Entity Member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Member shall promptly, but within not more than five (5) business days:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) provide to the Company/Members any information that the Company/Members reasonably requests from such Member for the Company or any entity in which the Company holds an interest to comply with the CTA, including: (A) such Member's, or with respect to a Member that is not a natural person (an "**Entity Member**"), each of such Entity Member's Indirect Owners', true and correct CTA Information or the true and correct FinCEN Identifier (as defined in the CTA) assigned to them by the Financial Crimes Enforcement Network of the U.S. Department of the Treasury ("**FinCEN**"); and (B) such information or documents as may be necessary in order for the Company or any entity in which the Company holds an interest to determine whether such Member or any of such Member's Indirect Owners or controllers are Beneficial Owners (as defined in the CTA) in the Company or any entity in which the Company holds an interest (collectively, "**Beneficial Ownership Information**");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) notify the Company/Members of any change or inaccuracy in or to any of such Member's, or in the case of an Entity Member, any of such Entity Member's Indirect Owners', CTA Information most recently provided to the Company, including: (A) a change in such Member's or Indirect Owner's legal name, date of birth, or residential street address; (B) a change in the name, date of birth, address, or unique identifying number on such Member's or Indirect Owner's Acceptable Identification Document; or (C) in the case of an Entity Member, as may result from a change in the direct or indirect ownership or control of such Entity Member; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** notify the Company/Members of any amendment, modification, supplement, or other change (other than an immaterial change that could not reasonably be expected to affect who may be a Beneficial Owner (as defined in the CTA) of the Company or any entity in which the Company holds an interest) in or to any Beneficial Ownership Information previously provided by such Member to the Company.

**ARTICLE X**

**MISCELLANEOUS**

**Section X.01 Notices.** Unless specifically stated otherwise in this Agreement, all notices, waivers, and demands required under this Agreement shall be in writing and delivered to all other parties at the addresses set forth in the Preamble, by one of the following methods: (a) hand delivery, whereby delivery is deemed to have occurred at the time of delivery; (b) a nationally recognized overnight courier company, whereby delivery is deemed to have occurred the business day following deposit with the courier; (c) Registered United States Mail, signature required and postage-prepaid, whereby delivery is deemed to have occurred on the third business day following deposit with the United States Postal Service; or (d) electronic transmission (facsimile or email) provided that the transmission is completed no later than 4 p.m. PDT on a business day and the original also is sent via overnight courier or United States Mail, whereby delivery is deemed to have occurred at the end of the business day on which electronic transmission is completed. Any party shall change its address for purposes of this Section 10.01 by giving written notice as provided in this Section 10.01.

**Section X.02 Complete Agreement; Amendments and Modifications; Partial Invalidity; Waivers.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement may be executed in counterparts, and when executed and delivered by all parties in person, by facsimile or email pdf, shall become one (1) integrated agreement enforceable on its terms. This Agreement supersedes all prior agreements between the parties with respect to the subject hereof and all discussions, understandings, offers, and negotiations with respect thereto, whether oral or written. This Agreement shall not be amended or modified, except in a writing signed by each party hereto. All exhibits that are referenced in this Agreement or attached to it are incorporated herein and made a part hereof as if fully set forth in the body of the document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction will, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be unenforceable, the provision will be interpreted to be only so broad as is enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any waiver of any provision or of any breach of this Agreement shall be in writing and signed by the party waiving said provision or breach. No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding breach thereof or of any other agreement or provision herein contained. No extension of time for performance of any obligations or acts shall be deemed an extension of the time for performance of any other obligations or acts.

**Section X.03 Third-Party Beneficiary; Successors and Assigns.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement is an agreement solely for the benefit of the Members (and their permitted successors and/or assigns). No other person, party, or entity shall have any rights hereunder nor shall any other person, party, or entity be entitled to rely upon the terms, covenants, and provisions contained herein. The provisions of this Section 10.03 shall survive the termination of this Agreement or dissolution of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement and all its covenants, terms, and provisions shall be binding on and inure to the benefit of each party and its permitted successors and assigns.

**Section X.04 Further Assurances.** Each Member agrees to do such things, perform such acts, and make, execute, acknowledge, and deliver such documents as may be reasonably necessary and customary to carry out the intent and purposes of this Agreement, so long as any of the foregoing do not materially increase any Member's obligations hereunder or materially decrease any Member's rights hereunder.

**Section X.05 Interpretation and Construction.** The parties hereto acknowledge that each party and its counsel have reviewed and revised this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any amendments or exhibits hereto. Any captions or headings used in this Agreement are for convenience only and do not define or limit the scope of this Agreement.

**Section X.06 Days; Performance on a Saturday, Sunday, or Holiday.** Whenever the term "day" is used in this Agreement, it shall refer to a calendar day unless otherwise specified. Should this Agreement require an act to be performed or a notice to be given on a day other than a business day, the act shall be performed or notice given on the following business day.

**Section X.07 Governing Law; Jurisdiction; Attorneys' Fees.** This Agreement shall be enforced, governed, and construed in all respects in accordance with the internal laws of the State of Nevada, without giving effect to the choice of law or conflict of law rules or laws of such jurisdiction. Each Member agrees that any litigation, claim, or lawsuit directly or indirectly arising out of or related to this Agreement shall be instituted exclusively in the courts, whether federal or state, located in the State of Nevada, and nowhere else. Each Member further agrees that, notwithstanding the foregoing, any such litigation, claim, or lawsuit as to which there is federal jurisdiction, by reason of diversity, federal question, or otherwise, shall be instituted exclusively in the federal district court of Nevada. Each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action, or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action, or proceeding in any such court or that any such suit, action, or proceeding that is brought in any such court has been brought in an inconvenient forum. Service of process, summons, notice, or other document by registered mail to the address set forth in Section 10.01 shall be effective service of process for any suit, action, or other proceeding brought in any such court.

The prevailing party in any such litigation, claim, or lawsuit shall be entitled to recover from the other party expenses, including reasonable attorneys' fees, including expenses and fees of any appeals. Each Member shall be entitled, in addition to all other applicable remedies, to equitable relief, including temporary and permanent injunction and a decree for specific performance, in the event of any breach of the provisions hereof by any other Member.

**Section X.08 Waiver of Jury Trial.** EACH MEMBER HEREBY EXPRESSLY AND UNCONDITIONALLY WAIVES, IN CONNECTION WITH ANY SUIT, ACTION, OR PROCEEDING BROUGHT BY THE OTHER PARTY HERETO UNDER THIS AGREEMENT OR IN CONNECTION WITH ANY TRANSACTION CONTEMPLATED HEREBY, ANY AND EVERY RIGHT EACH MEMBER MAY HAVE TO A TRIAL BY JURY.

**Section X.09 Equitable Remedies.** Each Party hereto acknowledges that a breach or threatened breach by such party of any of its obligations under this Agreement would give rise to irreparable harm to the other parties, for which monetary damages would not be an adequate remedy, and hereby agrees that in the event of a breach or a threatened breach by such Party of any such obligations, each of the other Parties hereto shall, in addition to any and all other rights and remedies that may be available to them in respect of such breach, be entitled to equitable relief, including a temporary restraining order, an injunction, specific performance, and any other relief that may be available from a court of competent jurisdiction (without any requirement to post bond).

**Section X.10 Ownership of Project; Right of Partition.** The interest of each Member in the Company shall be personal property for all purposes. No Member shall have any right to partition any of the Properties or any assets of the Company and each Member hereby irrevocably waives any and all right to partition, or to maintain any action for partition, or to compel any sale with respect to its interest in any assets or properties of the Company except as expressly provided in this Agreement.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set forth above.

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| | |
|:---|:---|
| By: |  |
| Name: |  |
| Title: |  |
| COLLAB Z INC. | COLLAB Z INC. |
| By: |  |
| Name: | Qiaojun Lai |
| Title: | CEO |

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**Exhibit A**

**LIST OF MEMBERS, INITIAL PERCENTAGE INTERESTS, AND INITIAL CAPITAL CONTRIBUTIONS**

**MEMBERS**

---

| | | |
|:---|:---|:---|
| **Name of Member** | **Initial Contribution/Capital Commitment** | **Percentage Interest** |

---

**Exhibit B**

**SUBSCRIPTION AGREEMENT**

**Exhibit C**

**ADDITIONAL SHARE FORMULA**

---

| | |
|:---|:---|
| Number of Additional Shares = | ![](ex10-7_001.jpg) |

---

"**Reference Price**" means three (3) times the price per share of the stock issued pursuant to Initial Equity Sale (as adjusted for stock splits, stock combinations and similar transactions).

**"Actual Price" means the volume weighted average price per share of the Collab Member's common stock (the "VWAP") on the exchange on which it is listed as reported by, or based upon data reported by, Bloomberg Financial Markets or an equivalent, reliable reporting services selected by the Collab Member, in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session for the 30-day period ending on the last trading day of the Reference Period. The VWAP will be determined without regard to after-hours trading or any other trading outside of the primary trading session on such dates. If the VWAP cannot be calculated for shares of common stock on the foregoing basis, the VWAP of a share of common stock for the aforementioned period shall be as determined in good faith by the Board of Directors of the Collab Member.**

**Exhibit D**

**PROPERTY MANAGEMENT TEMPLATE**

**Exhibit E**

**LIST OF PROPERTIES MANAGED BY THE COMPANY**

**Subscription Agreement**

THE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE OR ANY OTHER JURISDICTION. THERE ARE FURTHER RESTRICTIONS ON THE TRANSFERABILITY OF THE SECURITIES DESCRIBED HEREIN.

THE PURCHASE OF THE SECURITIES INVOLVES A HIGH DEGREE OF RISK AND SHOULD BE CONSIDERED ONLY BY PERSONS WHO CAN BEAR THE RISK OF THE LOSS OF THEIR ENTIRE INVESTMENT.

Collab Z. Inc.

29 Orinda Way, Unit 2060

Orinda, CA 94563

Ladies and Gentlemen:

The undersigned understands that Collab Z Inc., a corporation organized under the laws of Nevada (the "**Company**"), is offering an aggregate of Ten Thousand (10,000) shares of its common stock, par value $0.001 per share (the "**Securities**") in a private placement. The undersigned understands that the offering is being made without registration of the Securities under the Securities Act of 1933, as amended (the "**Securities Act**"), or any securities law of any state of the United States or of any other jurisdiction, and is being made only to "accredited investors" (as defined in Rule 501 of Regulation D under the Securities Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Subscription</u>. Subject to the terms and conditions hereof, the undersigned hereby irrevocably subscribes for the Securities for a purchase price of $2.00 per share for an aggregate purchase price of $20,000.00 (the "**Purchase Price**") which is payable as described in Section 4 hereof. The undersigned acknowledges that the Securities will be subject to restrictions on transfer as set forth in this subscription agreement (the "**Subscription Agreement**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Acceptance of Subscription and Issuance of Securities</u>. It is understood and agreed that the Company shall have the sole right, at its complete discretion, to accept or reject this subscription, in whole or in part, for any reason and that the same shall be deemed to be accepted by the Company only when it is signed by a duly authorized officer of the Company and delivered to the undersigned at the Closing referred to in Section 3 hereof. Subscriptions need not be accepted in the order received, and the Securities may be allocated among subscribers. Notwithstanding anything in this Subscription Agreement to the contrary, the Company shall have no obligation to issue any of the Securities to any person who is a resident of a jurisdiction in which the issuance of Securities to such person would constitute a violation of the securities, "blue sky" or other similar laws of such jurisdiction (collectively referred to as the "**State Securities Laws**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>The Closing</u>. The closing of the purchase and sale of the Securities (the "**Closing**") shall take place at the offices of Sichenzia Ross Ference Carmel LLP. 1185 Avenue of the Americas, 31<sup>st</sup> Floor, NY, NY, 10036, at [<u> </u>] a.m. PDT on [<u> </u>], or at such other time and place as the Company may designate by notice to the undersigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Payment for Securities</u>. Payment for the Securities shall be made by the undersigned by wire transfer of immediately available funds or other means approved by the Company at or prior to the Closing, in the amount of the Purchase Price to Collab-Gemini Real Estate Management LLC as the Company's Initial Capital Contribution (as defined in the LLC Agreement (as defined below)) on behalf of the Company pursuant to that certain Limited Liability Company Agreement by and among Gemini Stars Inc., the Company and Collab- Gemini Real Estate Management LLC, dated as of even date herewith (the "**LLC Agreement**"). The Company shall deliver certificates representing the Securities to the undersigned at the Closing bearing an appropriate legend referring to the fact that the Securities were sold in reliance upon an exemption from registration under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Representations and Warranties of the Company</u>. As of the Closing, the Company represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has been duly incorporated and is validly existing under the laws of Nevada, with full power and authority to conduct its business as it is currently being conducted and to own its assets; and has secured any authorizations, approvals, permits and orders required by law for the conduct by the Company of its business as it is currently being conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Securities have been duly authorized and, when issued, delivered and paid for in the manner set forth in this Subscription Agreement, will be validly issued, fully paid and nonassessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Representations and Warranties of the Undersigned</u>. The undersigned hereby represents and warrants to and covenants with the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) General.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The undersigned has all requisite authority (and in the case of an individual, the capacity) to purchase the Securities, enter into this Subscription Agreement and to perform all the obligations required to be performed by the undersigned hereunder, and such purchase will not contravene any law, rule, or regulation binding on the undersigned or any investment guideline or restriction applicable to the undersigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The undersigned is a resident of the state set forth on the signature page hereto and is not acquiring the Securities as a nominee or agent or otherwise for any other person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The undersigned will comply with all applicable laws and regulations in effect in any jurisdiction in which the undersigned purchases or sells Securities and obtain any consent, approval or permission required for such purchases or sales under the laws and regulations of any jurisdiction to which the undersigned is subject or in which the undersigned makes such purchases or sales, and the Company shall have no responsibility therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Information Concerning the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The undersigned understands and accepts that the purchase of the Securities involves various risks, including the risks outlined in this Subscription Agreement. The undersigned represents that it is able to bear any loss associated with an investment in the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The undersigned confirms that it is not relying on any communication (written or oral) of the Company or any of its affiliates, as investment or tax advice or as a recommendation to purchase the Securities. It is understood that information and explanations related to the terms and conditions of the Securities provided herein or otherwise by the Company or any of its affiliates shall not be considered investment or tax advice or a recommendation to purchase the Securities, and that neither the Company nor any of its affiliates is acting or has acted as an advisor to the undersigned in deciding to invest in the Securities. The undersigned acknowledges that neither the Company nor any of its affiliates has made any representation regarding the proper characterization of the Securities for purposes of determining the undersigned's authority to invest in the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The undersigned is familiar with the business and financial condition and operations of the Company. The undersigned has had access to such information concerning the Company and the Securities as it deems necessary to enable it to make an informed investment decision concerning the purchase of the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The undersigned understands that, unless the undersigned notifies the Company in writing to the contrary at or before the Closing, each of the undersigned's representations and warranties contained in this Subscription Agreement will be deemed to have been reaffirmed and confirmed as of the Closing, taking into account all information received by the undersigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The undersigned acknowledges that the Company has the right in its sole and absolute discretion to abandon this private placement at any time prior to the completion of the offering. This Subscription Agreement shall thereafter have no force or effect, and the Company shall return the previously paid subscription price of the Securities, without interest thereon, to the undersigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) The undersigned understands that no federal or state agency has passed upon the merits or risks of an investment in the Securities or made any finding or determination concerning the fairness or advisability of this investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-Reliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The undersigned represents that it is not relying on (and will not at any time rely on) any communication (written or oral) of the Company, as investment advice or as a recommendation to purchase the Securities, it being understood that information and explanations related to the terms and conditions of the Securities and the other transaction documents that are described herein shall not be considered investment advice or a recommendation to purchase the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The undersigned confirms that the Company has not (A) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial, accounting or otherwise) of an investment in the Securities or (B) made any representation to the undersigned regarding the legality of an investment in the Securities under applicable legal investment or similar laws or regulations. In deciding to purchase the Securities, the undersigned is not relying on the advice or recommendations of the Company and the undersigned has made its own independent decision that the investment in the Securities is suitable and appropriate for the undersigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Status of Undersigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The undersigned has such knowledge, skill and experience in business, financial and investment matters that the undersigned is capable of evaluating the merits and risks of an investment in the Securities. With the assistance of the undersigned's own professional advisors, to the extent that the undersigned has deemed appropriate, the undersigned has made its own legal, tax, accounting, and financial evaluation of the merits and risks of an investment in the Securities and the consequences of this Subscription Agreement. The undersigned has considered the suitability of the Securities as an investment in light of its own circumstances and financial condition and the undersigned is able to bear the risks associated with an investment in the Securities, and it is authorized to invest in the Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The undersigned is an "accredited investor" as defined in Rule 501(a) under the Securities Act. The undersigned agrees to furnish any additional information requested by the Company or any of its affiliates to assure compliance with applicable U.S. federal and state securities laws in connection with the purchase and sale of the Securities. Any information that has been furnished or that will be furnished by the undersigned to evidence its status as an accredited investor is accurate and complete, and does not contain any misrepresentation or material omission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Restrictions on Transfer or Sale of Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The undersigned is acquiring the Securities solely for the undersigned's own beneficial account, for investment purposes, and not with a view to, or for resale in connection with, any distribution of the Securities. The undersigned understands that the Securities have not been registered under the Securities Act or the securities laws of any state ("**State Securities Laws**") by reason of specific exemptions under the provisions thereof which depend in part upon the investment intent of the undersigned and of the other representations made by the undersigned in this Subscription Agreement. The undersigned understands that the Company is relying upon the representations and agreements contained in this Subscription Agreement (and any supplemental information) for the purpose of determining whether this transaction meets the requirements for such exemptions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The undersigned understands that the Securities are "restricted securities" under applicable federal securities laws and that the Securities Act and the rules of the U.S. Securities and Exchange Commission (the "**Commission**") provide in substance that the undersigned may dispose of the Securities only pursuant to an effective registration statement under the Securities Act or an exemption from the registration requirements of the Securities Act, and the undersigned understands that the Company has no obligation or intention to register any of the Securities or the offering or sale thereof, or to take action so as to permit offers or sales pursuant to the Securities Act or an exemption from registration thereunder (including pursuant to Rule 144 thereunder). Accordingly, the undersigned understands that under the Commission's rules, the undersigned may dispose of the Securities only in "private placements" which are exempt from registration under the Securities Act, in which event the transferee will acquire "restricted securities," subject to the same limitations that apply to the Securities in the hands of the undersigned. Consequently, the undersigned understands that the undersigned must bear the economic risks of the investment in the Securities for an indefinite period of time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The undersigned agrees: (A) that the undersigned will not sell, assign, pledge, give, transfer, or otherwise dispose of the Securities or any interest therein, or make any offer or attempt to do any of the foregoing, unless the transaction is registered under the Securities Act and complies with the requirements of all applicable State Securities Laws, or the transaction is exempt from the registration provisions of the Securities Act and all applicable requirements of State Securities Laws; (B) the Securities shall be subject to the Lock-Up Restrictions (as defined in the LLC Agreement); (C) that the certificates representing the Securities will bear a legend making reference to the foregoing restrictions; and (D) that the Company and its affiliates shall not be required to give effect to any purported transfer of such Securities, except upon compliance with the foregoing restrictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The undersigned acknowledges that neither the Company nor any other person offered to sell the Securities to it by means of any form of general solicitation or advertising, including but not limited to: (A) any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio or (B) any seminar or meeting whose attendees were invited by any general solicitation or general advertising.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Conditions to Obligations of the Undersigned and the Company</u>. The obligations of the undersigned to purchase and pay for the Securities and of the Company to sell those Securities, are subject to the satisfaction at or prior to the Closing of the following conditions precedent: the representations and warranties of the Company contained in Section 5 hereof and of the undersigned contained in Section 6 hereof shall be true and correct as of the Closing in all respects with the same effect as though such representations and warranties had been made on and as of the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Obligations Irrevocable</u>. The obligations of the undersigned shall be irrevocable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Legend</u>. The certificates representing the Securities sold pursuant to this Subscription Agreement will be imprinted with a legend in substantially the following form:

"THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. THE SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED, OR OTHERWISE TRANSFERRED EXCEPT (1) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OR (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE STATE SECURITIES LAWS AND THE SECURITIES LAWS OF OTHER JURISDICTIONS, AND IN THE CASE OF A TRANSACTION EXEMPT FROM REGISTRATION, UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR SUCH OTHER APPLICABLE LAWS."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Waiver, Amendment</u>. Neither this Subscription Agreement nor any provisions hereof shall be modified, changed, discharged or terminated except by an instrument in writing, signed by the party against whom any waiver, change, discharge or termination is sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Assignability</u>. Neither this Subscription Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by either the Company or the undersigned without the prior written consent of the other party, and any attempted assignment without such prior written consent shall be void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Waiver of Jury Trial</u>. THE UNDERSIGNED IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Submission to Jurisdiction</u>. With respect to any suit, action, or proceeding relating to any offers, purchases, or sales of the Securities by the undersigned ("**Proceedings**"), the undersigned irrevocably submits to the jurisdiction of the federal and state courts located in Nevada, which submission shall be exclusive, unless none of such courts has lawful jurisdiction over such Proceedings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Governing Law</u>. This Subscription Agreement shall be governed by and construed in accordance with the laws of the State of Nevada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Section and Other Headings</u>. The section and other headings contained in this Subscription Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Counterparts</u>. This Subscription Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which together shall be deemed to be one and the same agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Notices</u>. All notices and other communications provided for herein shall be in writing and shall be deemed to have been duly given if delivered personally or sent by registered or certified mail, return receipt requested, postage prepaid to the following addresses (or such other address as either party shall have specified by notice in writing to the other):

---

| | |
|:---|:---|
| If to the Company: | Collab Z, Inc. |
|  | E-mail: aileen.lai@collabhome.io |
|  | Attention: Qiaojun Lai, CEO |
| with a copy to: | Sichenzia Ross Ference Carmel, LLP. |
|  | E-mail: rcarmel@srfc.law |
|  | Attention: Ross Carmel, Esq. |
| If to the Purchaser: | Gemini Stars Inc. |
|  | E-mail: sonymartin2002@gmail.com |
|  | Attention: Ding Ma, Manager |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. <u>Binding Effect</u>. The provisions of this Subscription Agreement shall be binding upon and accrue to the benefit of the parties hereto and their respective heirs, legal representatives, successors, and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. <u>Survival</u>. All representations, warranties and covenants contained in this Subscription Agreement shall survive (i) the acceptance of the subscription by the Company and the Closing, (ii) changes in the transactions, documents and instruments described in the Offering Documents which are not material or which are to the benefit of the undersigned, and (iii) the death or disability of the undersigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. <u>Notification of Changes</u>. The undersigned hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the closing of the purchase of the Securities pursuant to this Subscription Agreement which would cause any representation, warranty, or covenant of the undersigned contained in this Subscription Agreement to be false or incorrect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. <u>Severability</u>. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the undersigned has executed this Subscription Agreement this [ ] of [ ], 2025.

---

| | |
|:---|:---|
| PURCHASER:. | PURCHASER:. |
| By: |  |
| Name: |  |
| Title: | Manager |

---

---

| |
|:---|
| State/Country of Domicile or Formation: |
| Aggregate Subscription Amount: US$ |

---

The offer to purchase Securities as set forth above is confirmed and accepted by the Company as to <u>____</u> shares of common stock.

---

| | |
|:---|:---|
| COLLAB Z, INC. | COLLAB Z, INC. |
| By | |
| Name: | Qiaojun Lai |
| Title: | CEO |

---

## Exhibit 10.8

**Exhibit 10.8**

**<u>ADVISORY AGREEMENT</u>**

**THIS ADVISORY AGREEMENT** (the "Agreement") is made effective May 6, 2024, between Blake Elliot Inc., a Florida corporation (the "Advisor"), and Collab (USA) Capital LLC a Delaware limited liability company, whose principal place of business is located at 745 5th Ave, Suite 500, New York, NY 10151 (the "Company").

**WHEREAS**, Company is in need of certain consulting and advisory services;

**WHEREAS**, Advisor, specifically its Managing Director, Blake Janover, possesses considerable industry knowledge and experience that is valuable to Company; and

**WHEREAS**, Advisor has agreed to perform consulting work for Company with respect to making introductions and advising Company on corporate finance, capital markets, and public market listing (collectively, the "Services").

**NOW, THEREFORE**, the parties hereby agree as follows:

**ARTICLE 1 – SCOPE OF WORK.**

&nbsp;&nbsp;&nbsp;&nbsp;**1.1** **Services** –Company shall engage Advisor to provide the Services described above.

**1.2 Time and Availability** –Advisor shall perform Services and provide advice and analysis with respect to the Services as Company may reasonably require. Services shall be performed at such place or places as Advisor deems reasonable giving due regard to the needs of Company's business. Advisor shall devote such of his time and business efforts to the performance of the Services as Advisor deems reasonable and necessary to discharge his responsibilities and obligations hereunder.

**1.3 Confidentiality** – In order for Advisor to perform Services, it may be necessary for Company to provide Advisor with Confidential Information (as defined below) regarding Company's business and products. Advisor agrees to be bound by the terms of Article 5 hereof.

**1.4 Standard of Conduct** – In rendering the Services under Agreement, Advisor shall conform to high professional standards of work and business ethics. Advisor shall not use time, materials, or equipment of Company without the prior written consent of Company.

**1.5 Reports** –Advisor shall, periodically and when specifically requested by Company, provide Company with written reports of his observations and conclusions regarding the Services. Upon the termination of this Agreement, Advisor shall, upon the request of Company, prepare a final report of Advisor's activities.

**ARTCILE 2 – LIMITATION ON SERVICES.**

Advisor represents and warrants, and Company acknowledges, that Advisor is not a licensed securities broker or dealer or a licensed investment advisor. Accordingly, Advisor shall not, and shall have no authority, express or implied, to:

&nbsp;&nbsp;&nbsp;&nbsp;2.1. Sell any securities of Company, offer to sell any securities
of Company, or solicit offers to purchase any securities of Company;

&nbsp;&nbsp;&nbsp;&nbsp;2.2. Negotiate with any prospective purchaser of securities or
potential acquirer of Company on behalf of or as a representative of Company;

&nbsp;&nbsp;&nbsp;&nbsp;2.3. Make any representations or warranties on behalf of Company
or with respect to Company or any of Company's securities;

&nbsp;&nbsp;&nbsp;&nbsp;2.4. Prepare or disseminate any documentation regarding Company
or any potential investment in or acquisition of Company unless specifically authorized by Company, or to engage in any general advertising
or solicitation with respect to Company or its securities;

&nbsp;&nbsp;&nbsp;&nbsp;2.5. Advise any potential investor or potential acquirer regarding
any potential investment in or acquisition of Company or the value of any securities or terms of any proposed transaction;

&nbsp;&nbsp;&nbsp;&nbsp;2.6. Disseminate term sheets, offering documents, business plans
or any other Company information unless specifically authorized by Company;

&nbsp;&nbsp;&nbsp;&nbsp;2.7. Receive or transmit funds to or from potential investors
in or acquirers of Company; or

&nbsp;&nbsp;&nbsp;&nbsp;2.8. Make any representation on behalf of Company, except as expressly
authorized in advance in writing from time to time by Company and then only to the extent of such authorization.

**ARTICLE 3 – INDEPENDENT CONTRACTOR.**

**3.1 Independent Contractor** –Advisor is an independent contractor and is not an employee, partner, or co-venturer of, or in any other service relationship with, Company. Advisor is not authorized to speak for, represent, or obligate Company in any manner without the prior express written authorization from an officer of Company.

&nbsp;&nbsp;&nbsp;&nbsp;3.2 Indemnification -

Advisor and Company agree that they shall mutually indemnify and hold the each other free and harmless from any claims, liabilities, damages, losses, costs or expenses, including reasonable attorney's fees, in respect of any claim, action, suit, proceeding, or demand, in law or in equity (1) resulting from Advisor's Services, (2) resulting from the work performed on behalf of Advisor by any agent, employee, contractor or representative of Advisor, (3) caused by the negligence, recklessness or willful misconduct of Company or Advisor or any agent, employee, contractor or representative of Advisor, or (4) arising from any failure by Advisor or Company to perform any of its obligations under this Agreement.

**3.3 Taxes** – Advisor shall be responsible for all taxes arising from compensation as per Section 4.1 below under this Agreement, and shall be responsible for all payroll taxes and fringe benefits of Advisor's employees. Neither federal, nor state, nor local income tax, nor payroll tax of any kind, shall be withheld or paid by Company on behalf of Advisor or its employees. Advisor understands that it is required to pay, according to law, Advisor's taxes and Advisor shall, when requested by Company, properly document to Company that any and all federal and state taxes have been paid. All reimbursements as per Section 4.2 are not and shall not be reported to the IRS as taxable income.

**3.4 Benefits** –Advisor and Advisor's employees will not be eligible for, and shall not participate in, any employee pension, health, welfare, or other fringe benefit plan, of Company. No workers' compensation insurance shall be obtained by Company covering Advisor or Advisor's employees.

**ARTICLE 4 – COMPENSATION FOR CONSULTING SERVICES.**

**4.1 Compensation** – In consideration for the Services, Advisor shall receive compensation of six thousand five hundred dollars ($6,500) per month, for the later of a period of twenty four (24) consecutive months from the effective date of this Agreement or until the Company is listed on a national securities exchange . In the event of termination by Company, all compensation due under this agreement to Advisor shall accelerate and automatically become due and Advisor shall be entitled to receive the balance of payments for the remaining period up to two (2) years.

Additionally, in the event of a listing of the Company on a securities exchange during the Term (as defined below), Advisor shall be entitled to 100,000 shares of common stock which shall be registered in the registration statement for the liquidity event.

**4.2 Reimbursement** – Company agrees to reimburse Advisor for all actual reasonable and necessary expenditures, which are directly related to Services. Expenses will only be reimbursed if Company had given prior approval of the expenditure. Expenses incurred by Advisor will be reimbursed by Company within thirty (30) days of Advisor's proper written request for reimbursement which includes all proper documentation.

**ARTICLE 5 – TERM AND TERMINATION.**

**5.1 Term** – This Agreement shall be effective as of the date set forth above and shall continue in full force and effect for the later of twenty four (24) consecutive months or when the Company is listed on a national securities exchange (the "**Term**"). Company and Advisor may negotiate to extend the term of this Agreement and the terms and conditions under which the relationship shall continue. Company may cancel this agreement on thirty (30) days notice to Advisor, as per section 10.9 below.

**5.2 Termination** –Company may immediately terminate this Agreement for "Cause," after giving Advisor written notice of the reason. Cause means: (1) Advisor has materially breached the provisions of Article 6 or 8 of this Agreement in any respect; (2) Advisor has breached any other provision of this Agreement and the breach remains uncured for 30 days following receipt of a notice from Company; or (3) Advisor has committed fraud, a misappropriation or embezzlement in connection with Company's business or Advisor's Services.

**5.3 Responsibility upon Termination** – Any equipment provided by Company to Advisor in connection with or furtherance of Advisor's Services under this Agreement, including, but not limited to, computers, laptops, and personal management tools, shall, immediately upon the termination of this Agreement, be returned to Company.

**5.4 Survival** – The provisions of Articles 6, 7, 8 and 9 of this Agreement shall survive the termination of this Agreement and remain in full force and effect thereafter.

**ARTICLE 6 – CONFIDENTIAL INFORMATION.**

**6.1 Obligation of Confidentiality** – In performing the Services under this Agreement, Advisor may be exposed to and will be required to use certain "Confidential Information" (as hereinafter defined) of Company. Advisor agrees that Advisor will not and Advisor's employees, agents or representatives will not, use, directly or indirectly, such Confidential Information for any purpose other than providing the Services and will not use for the benefit of any person, entity or organization other than Company, or disclose such Confidential Information without the written authorization of Company, either during or after the term of this Agreement, for as long as such information retains the characteristics of Confidential Information.

**6.2 Definition** – "Confidential Information" means information, not generally known, and proprietary to Company or to a third party for whom Company is performing work, including, without limitation, information concerning any patents or trade secrets, confidential or secret designs, processes, formulae, source codes, plans, devices or material, research and development, proprietary software, analysis, techniques, materials or designs (whether or not patented or patentable), directly or indirectly useful in any aspect of the business of Company, any vendor names, customer and supplier lists, databases, management systems and sales and marketing plans of Company, any confidential secret development or research work of Company, or any other confidential information or proprietary aspects of the business of Company. All information which Advisor acquires or becomes acquainted with during the period of this Agreement, whether developed by Advisor or by others, which Advisor has a reasonable basis to believe to be Confidential Information, or which is treated by Company as being Confidential Information, shall be presumed to be Confidential Information. Confidential Information does not include information that (i) is or later becomes available to the public through no breach of this Agreement by the recipient; (ii) is obtained by the recipient from a third party who had the legal right to disclose the information to the recipient; (iii) is already in the possession of the recipient on the date this Agreement becomes effective; or (iv) is required to be disclosed by law, government regulation, or court order.

**ARTICLE 7 –DATA.**

**7.1 Data** – All drawings, models, designs, formulas, methods, documents and tangible items prepared for and submitted to Company by Advisor in connection with the services rendered under this Agreement shall belong exclusively to Company and shall be deemed to be works made for hire (the "Deliverable Items"). To the extent that any of the Deliverable Items may not, by operation of law, be works made for hire, Advisor hereby assigns to Company the ownership of copyright or mask work in the Deliverable Items, and Company shall have the right to obtain and hold in its own name any trademark, copyright, or mask work registration, and any other registrations and similar protection which may be available in the Deliverable Items. Advisor agrees to give Company or its designees all assistance reasonably required to perfect such rights.

**ARTICLE 8 – NON– SOLICITATION.**

**8.1 Non-Solicitation** – Advisor covenants and agrees that during the term of this Agreement, Advisor will not, directly or indirectly, through an existing corporation, unincorporated business, affiliated party, successor employer, or otherwise, solicit, hire for employment or work with, on a part-time, consulting, advising or any other basis, other than on behalf of Company any employee or independent contractor employed by, Company while Advisor is performing the Services for Company.

**ARTICLE 9 – RIGHT TO INJUNCTIVE RELIEF.**

Advisor acknowledges that the terms of Articles 6, 7, and 8 of this Agreement are reasonably necessary to protect the legitimate interests of Company, are reasonable in scope and duration, and are not unduly restrictive. Advisor further acknowledges that a breach of any of the terms of Articles 6, 7, or 8 of this Agreement will render irreparable harm to Company, and that a remedy at law for breach of the Agreement is inadequate, and that Company shall therefore be entitled to seek any and all equitable relief, including, but not limited to, injunctive relief, and to any other remedy that may be available under any applicable law or agreement between the parties.

Advisor acknowledges that an award of damages to Company does not preclude a court from ordering injunctive relief. Both damages and injunctive relief shall be proper modes of relief and are not to be considered as alternative remedies.

**ARTICLE 10 – GENERAL PROVISIONS.**

**10.1 Construction of Terms** – If any provision of this Agreement is held unenforceable by a court of competent jurisdiction, that provision shall be severed and shall not affect the validity or enforceability of the remaining provisions.

**10.2 Governing Law** – This Agreement shall be governed by and construed in accordance with the internal laws (and not the laws of conflicts) of the State of Florida.

**10.3 Complete Agreement** – This Agreement constitutes the complete agreement and sets forth the entire understanding and agreement of the parties as to the subject matter of this Agreement and supersedes all prior discussions and understandings in respect to the subject of this Agreement, whether written or oral.

**10.4 Jurisdiction and Venue -** The parties acknowledge that all of the negotiations, anticipated performance and execution of this Agreement occurred or shall occur in the State of Florida, and that, therefore, without limiting the jurisdiction or venue of any other federal or state courts, each of the parties irrevocably and unconditionally (a) agrees that any suit, action or legal proceeding arising out of or relating to this Agreement may be brought in the state or federal courts of record of the State of Florida in Palm Beach County; (b) consents to the jurisdiction of each such court in any suit, action or proceeding; (c) waives any objection which it may have to the laying of venue of any such suit, action or proceeding in any of such courts; and (d) agrees that service of any court paper may be effected on such party by mail, as provided in this Agreement, or in such other manner as may be provided under applicable laws or court rules in said state.

**10.5 Modification** – No modification, termination or attempted waiver of this Agreement, or any provision thereof, shall be valid unless in writing signed by the party against whom the same is sought to be enforced.

**10.6 Waiver of Breach** – The waiver by a party of a breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of any other or subsequent breach by the party in breach.

**10.7 Successors and Assigns** – This Agreement may not be assigned by either party without the prior written consent of the other party; provided, however, that the Agreement shall be assignable by Company without Advisor's consent in the event Company is acquired by or merged into another corporation or business entity; or by Advisor without Company's consent if Advisor or its agreements are acquired or Advisor is merged into another corporation or business entity. The benefits and obligations of this Agreement shall be binding upon and inure to the parties hereto, their successors and assigns.

**10.8 No Conflict** – Advisor warrants that Advisor has not previously assumed any obligations inconsistent with those undertaken by Advisor under this Agreement.

**10.9 Notices –** Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon delivery, when delivered personally or by overnight courier or sent by fax or email (upon customary confirmation of receipt), or 48 hours after being deposited in the U.S. mail, as certified or registered mail, with postage prepaid, addressed to the party to be notified at such party's address as set forth above.

**10.10 Counterparts.** This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Delivery of an executed counterpart of this Agreement via facsimile transmission shall be effective as delivery of a manually executed counterpart of this Agreement.

**IN WITNESS WHEREOF**, this Agreement is executed as of the date set forth above.

---

| | |
|:---|:---|
| **Collab (USA) Capital, LLC** | **Collab (USA) Capital, LLC** |
| **By:** | **/s/ Qian Wang** |
| **Name:** | **Qian Wang** |
| **Title:** | **CEO** |
| **Blake Elliot, Inc.** | **Blake Elliot, Inc.** |
| **By:** | **/s/ Blake Janover** |
| **Name:** | **Blake Janover** |
| **Title:** | **Partner** |

---

## Exhibit 10.9

**Exhibit 10.9**

**CONSULTING AGREEMENT**

This Consulting Agreement (this "**Agreement**") is entered into by and between Zhaoju ("Kelly") Shen, an individual residing in Georgia ("**Consultant**"), and Collab CA LLC, a California limited liability company (the "**Company**"), as of <u>October 23</u>, 2024 (the "**Effective Date**"). Consultant and the Company are sometimes referred to collectively in this Agreement as the "parties" or individually as a "party."

<u>Recitals</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Consultant is an entrepreneur who invests in multifamily real estate and an influencer on YouTube.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company is a property tech company specializing in multifamily property management (the "**Business**"). The Company has developed a proprietary community-based property management system for use at multifamily properties (the "**Community-Based System**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The Company currently manages 14 multifamily properties in three states and desires to grow the Business significantly by adding 2,000 units under management by year end 2024, an additional 10,000 units during 2025, and an additional 25,000 units during 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. The Company wishes to engage Consultant to develop the Business by promoting the Business as an influencer and introducing the Company to owners of multifamily property seeking independent management, and Consultant desire to provide the Services for the benefit of the Company, all on the terms and conditions set forth herein.

<u>Agreement</u>

NOW THEREFORE, in consideration of the mutual promises contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Consulting Relationship</u>. The Company hereby retains Consultant to provide the services described herein to the Company and its affiliated entities ("**Affiliates**"), on the terms and conditions of this Agreement, and Consultant hereby accepts such retention. Consultant shall officially report to Qian Wang and may use the title "Chief Business Development Officer" or "CBDO" in providing the services described in Section 3(a) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Certain definitions</u>. As used in this Agreement, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Customer**" means an owner or operator of a Multifamily Property identified by Consultant that has duly executed and delivered to the Company a Property Management Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Designated State**" means one or more states or territories of the United States (including the District of Columbia) that is identified by the Company to Customer from time to time as a location in which it is willing to operate. The initial Designated States are California, Massachusetts and New Jersey.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "**Good Standing**" means that all of the following are met with respect to any Customer: the Property Management Agreement with such Customer is in full force and effect; Customer has not materially breached the Property Management Agreement; Customer is current in the payment of all amounts due to the Company and its Affiliates, provided that any minor discrepancies and disputes over amounts not exceeding 5% of the total due shall not affect the Customer's status; and there are no other unresolved dispute(s) of a material nature between the Company or its Affiliates and the Customer under the Property Management Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "**Identify**" or "**identified by**" or words of similar import mean that Consultant has notified the Company in writing that Consultant has contacted, or has been contacted by, a named potential Customer who, previous to such identification, was not a customer of the Company or independently identified by the Company. Consultant shall provide written notice to the Company (which may be by email) identifying each potential Customer within two (2) business days of such identification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "**Management Fee**" means the fee payable by a Customer to the Company or its Affiliates under a Property Management Agreement, as such Management Fee is defined under such Property Management Agreement, to the extent such fee is based on gross collections, gross revenue, or similar measure, excluding in all instances any other fee earned by or paid to the Company under the Property Management Agreement, such as (by way of example and not of limitation) a construction management fee, project management fee, leasing fee, or reimbursement of expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "**Multifamily Property**" means a multifamily apartment building or complex located in a Designated State that is owned or operated by a Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "**Property Management Agreement**" means a contract between the Company or its Affiliate and a Customer for deployment of the Community-Based System at a Multifamily Property. A Property Management Agreement is deemed effective ("**Effectiveness**") on the date the Community-Based System becomes fully operational at such Multifamily Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "**Unit**" or "**Units**" means those individual apartments in a Multifamily Property that are subject to an Effective Property Management Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Services</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Description of Services*. During the term of this Agreement, Consultant shall provide the following services to the Company (collectively, "**Services**"), together with such other Services as may be reasonably requested by the Company from time to time:

● Identify and pursue opportunities for the Business to enter into a new Property Management Agreement with potential Customers in a Designated States

● Introduce potential Customers to the Company's products using Marketing Materials (defined below) provided by the Company

● Introduce potential Customers to the relevant account manager at the Company

● Develop and implement business development strategies that align with the Company's business goals and objectives

● Assist the Company to develop and execute a strategic social media presence to build brand awareness and grow the Business

● Report all Customer feedback to the Company

● Develop and maintain strong relationships with Customers and potential Customers

● Provide strategic input to the executive team on market dynamics and competitive landscape

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Marketing Materials*. The Company will prepare and supply to Consultant from time to time marketing materials, commercial terms or forms of agreements, services lists, and descriptions of the Company, the Business, and the Community-Based System, as the Company may approve from time to time to be used for promotion and for presentation to Customers or potential Customers (the "**Marketing Materials**"). Consultant shall use only the Marketing Materials in communications with Customers and potential Customers, and shall not present to any Customer or potential Customer any third-party materials or make any statements that differ from or are inconsistent with the Marketing Materials. All summaries of Marketing Materials, all scripts to be used by Consultant, and all other Consultant-generated materials shall be submitted by Consultant for the Company's prior written approval. At the request of the Company, Consultant shall disclose to potential Customers the fees to be earned by Consultant pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Monthly Plan*. Not later than the second (2<sup>nd</sup>) business day of each calendar month, Consultant shall submit to Qian Wang a monthly business development work plan for such month that includes targeted markets, clients, and high-level project details. Consultant shall only proceed with the execution of the work plan upon receiving approval from the Company, which will be provided with comments, if any, within five (5) business days after the plan's submission. Failure to timely reply in writing shall be deemed approval of the work plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Compensation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Commission*. Subject to Article 7 below, the Company shall pay to Consultant a commission (the "**Commission**") equal to ten percent (10%) of the Management Fee received by the Company from each Customer for so long as such Customer remains a Customer of the Company in Good Standing, payable as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) within seven (7) business days following the Effectiveness of a Property Management Agreement, the Company shall pay to Consultant, by check or electronic transfer to an account designated by Consultant, the sum of Ten Thousand Dollars ($10,000), as an advance of the Commission (the "**Advance**") payable against the first One Hundred Thousand ($100,000) in Property Management Fees received by the Company from such Customer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) at such time as the Company has collected One Hundred Thousand Dollars ($100,000) in Property Management Fees from such Customer, Consultant shall thereafter be entitled to receive the Commission on a monthly basis, paid in arrears but not later than the last day of the succeeding calendar month (in other words, a Commission earned for the month of May shall be paid no later than June 30). For avoidance of doubt, an Advance shall be payable once with respect to each Customer regardless of the number of Multifamily Properties managed by the Company for such Customer from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) subject to approval by the Board of Directors (the "**Board**") of Collab Z Inc., a Nevada corporation and Affiliate of the Company ("**Collab Z**"), the Company anticipates that Collab Z shall grant Consultant in writing the right to acquire Seven Hundred Fifty (750) shares of Collab Z common stock for each Five Hundred (500) Units subject to an Effective Property Management Agreement (each, a "**Grant**"). A Grant may be of a stock option, restricted stock, restricted stock unit, or similar instrument created and governed by the terms and conditions of an equity incentive plan to be adopted by Collab Z pursuant to applicable law and the Grant agreement executed by Consultant thereunder (collectively, the "**Plan**"). Each Grant agreement will include a four-year vesting schedule, forfeiture upon termination for Cause, customary representations and warranties of Consultant, and at-cost repurchase rights of the Company, and shall be subject to the other terms and conditions of the Plan. Upon issuance to Consultant of any shares of stock of Collab Z, at the request of Collab Z, Consultant agrees to enter into, execute and deliver any then-effective stockholder agreement, lock-up agreement, or other agreement applicable generally to the holders of Collab Z common stock ("**Stockholder Agreement**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Monthly Statement*. Consultant shall submit to the Company, within five (5) days following the end of each calendar month during which Consultant provides Services, statement that includes (a) the period covered by the statement, (b) a brief description of the Services performed during the month and the date of performance thereof, and (c) an identification of each potential Customer whom Consultant contacted, or who contacted Consultant, during such period for the purpose of promoting the Company's Community-Based System. Each statement must be acceptable to the Company in description and detail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Reimbursement of Expenses*. The Company shall reimburse Consultant only for extraordinary out of pocket costs and expenses that are approved in advance by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Survival*. The provisions of this Section 4 shall survive the expiration or termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Standard</u>. Consultant shall perform the Services in a reasonable manner and in accordance with the highest professional standards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Location of Services</u>. Consultant will exclusively determine the method, details, and means of performing the Services. Consultant will additionally determine the method, details, and means of performing the Services; *provided, however*, that the Company may establish milestones for Consultant's performance of the Services. Consultant may perform the Services at any place or location that Consultant determines is most suitable. Consultant may use the Berkeley, California office on occasion but will check with its manager before using such facility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Convenience*. Either Consultant or the Company may terminate this Agreement for convenience at any time and for any reason (or no reason) ("**Convenience**") upon thirty (30) days' prior written notice to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Cause*. The Company may terminate this Agreement with immediate effect upon the occurrence of an event that constitutes Cause, subject to cure thereof to the extent provided herein. For purposes of this Agreement, "**Cause**" shall mean (i) a material breach by Consultant of any provision of this Agreement (other than as provided in clause (iv) below), (ii) Consultant's willful misconduct or gross negligence in the performance of the Services, (iii) commission of any act (whether in connection with performance of the Services or otherwise in Consultant's business), that, if Consultant were prosecuted therefor, would constitute a felony, a crime involving dishonesty, fraud, larceny or misappropriation of funds, or any other crime that subjects, or if generally known would subject, the Company to public ridicule or embarrassment; or (iv) if Consultant breaches the provisions of Sections 9 or 10 below or the provisions of any additional written confidentiality, invention assignment, or intellectual property protection agreement between Consultant and the Company; *provided*, however, that an event or condition described in clauses (A) or (B) shall not constitute Cause unless Company gives Executive written notice of its intention to terminate this Agreement for Cause detailing the grounds for such termination and such grounds for termination (if susceptible to correction) are not corrected by Executive to the reasonable satisfaction of the Company within fourteen (14) days following delivery of such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Consequences of Termination*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>General</u>. Upon termination of this Agreement by the Company or Consultant for Convenience pursuant to Section 7(a), the Company shall pay to Consultant such amounts as may be due and owing to Consultant pursuant to Section 4 above through the date of termination, and Consultant shall make reasonable efforts to complete all Services and shall deliver to the Company all work product, status updates, and all related materials.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Commission</u>. Upon termination of this Agreement by either party for Convenience, Consultant shall be entitled to be paid the Commission for one (1) year following such termination for each then-existing Customer of the Company that was a Customer in Good Standing as of the date of termination (an "**Existing Customer**"), so long as during such one-year period such Customer remains in Good Standing, and if at any time during such one-year period an Existing Customer ceases to be a Customer of the Company for any reason, entitlement to the Commission with respect to such Customer automatically shall cease. Upon termination of this Agreement by the Company for Cause, Consultant's entitlement to Commission shall cease as of the earlier of the date of termination or commission of the event that constitutes Cause.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Grants</u>. Upon termination of this Agreement by either party for Convenience, Consultant shall be entitled to retain and/or exercise such portion of each Grant as is then vested, for such period and on such terms as may be provided in the Plan, and all unvested shares or rights of Consultant under each Grant shall thereupon be forfeited. Upon termination of this Agreement by the Company for Cause, all vested and unvested options, shares or rights under any Grant then held by Consultant shall automatically be forfeited and terminated as of the earlier of the date of termination or commission of the event that constitutes Cause. Upon any termination of this Agreement, any shares of common stock then held by Consultant shall be subject to the provisions of any Stockholder Agreement then in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Independent Contractor</u>. Consultant's relationship with the Company will be that of an independent contractor and not that of an employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *No Authority*. Consultant shall have no authority to enter into contracts that bind the Company or to create any other obligation on the part of the Company. For avoidance of doubt, Consultant shall not make any commitment to a potential Customer on behalf of the Company that the Company will enter into any particular Property Management Agreement, and only the Company may execute a Property Management Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *No Benefits*. Consultant acknowledges and agrees that Consultant will not be eligible for any Company employee benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Withholding; Indemnification*. Consultant will be responsible for paying all state and federal taxes as required by law arising out of this Agreement. The Company will not (i) withhold any state or federal income taxes or contributions from Consultant's payments or (ii) make any state or federal benefit or insurance contributions on behalf of Consultant. Consultant agrees to indemnify, defend, and hold the Company harmless from any obligation or liability to tax or other authorities for any deductions, taxes, or other obligations of Consultant arising from or relating in any way to the Services. The provisions of this Section 8(c) will survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Consulting or Other Services for Competitors</u>. The Company acknowledges that Consultant provides consulting services to other clients and agrees that Consultant may provide consulting or other services to any person or entity, so long as the business of such person or entity is not competitive in any material respect with the Business in any Designated State that the Company has previously identified as a Designated State in writing to the Consultant and where the Company has at least one (1) active Customer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Confidentiality; Invention Assignment</u>. Company shall own, and Consultant shall and hereby does assign to Company, all intellectual property and related rights throughout the world that arise in whole or part out of, or in connection with, the Services. Consultant agrees that all of the foregoing, and all other non-public business, technical and financial information Consultant obtains from the Company or learns in connection with the Services, including with respect to the Company's Affiliates, constitutes "**Proprietary Information**." Consultant will hold in confidence and not disclose or, except in performing the Services, use any Proprietary Information; *provided*, that Consultant shall not be so obligated with respect to information that (i) is or becomes readily publicly available without restriction through no fault of Consultant, or (ii) Consultant obtained from a third party not in violation of its confidentiality obligations. Upon termination or as otherwise requested by Company, Consultant will promptly return to the Company or certify the destruction (or permanent erasure) of all items and copies containing or embodying Proprietary Information. Notwithstanding the foregoing nondisclosure obligations, Consultant shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (2) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Consultant agrees that the obligations imposed under this Section 10 are necessary and reasonable in order to protect the Company and the Proprietary Information, and that monetary damages would be inadequate to compensate the Company for any breach by Consultant of any covenants and agreements set forth in this Section 10. Accordingly, Consultant agrees that any such violation or threatened violation will cause irreparable injury to the Company and that, in addition to any other remedies that may be available, in law, in equity or otherwise, the Company will be entitled to obtain injunctive relief against the threatened breach of this Section 10 or the continuation of any such breach, without the necessity of proving actual damages. Any failure by the Company and/or the Company Parties to enforce rights held by them under this Section 10 will not constitute a waiver of such rights. Consultant agrees, upon request of the Company, and without additional consideration, to enter into a form of confidential information and invention assignment agreement adopted by the Board for employees and consultants of the Company. The provisions of this Section 10 shall survive expiration or termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Indemnification; Limitation of Liability</u>. Consultant shall indemnify the Company against all costs, fees, expenses, judgments, penalties and damages, including reasonable attorneys' fees, (collectively, "**Damages**") incurred in connection with any claim, demand, and pending or threatened proceeding, including any expenses of establishing a right to indemnification hereunder (each, a "**Claim**"), to the extent (i.e., for that portion) attributable to (a) the gross negligence or intentional misconduct of Consultant in providing Services to or on behalf of the Company pursuant to this Agreement, (b) Consultant's compliance with all legal requirements related to the operation and conduct of Consultant's consulting business, and (c) arising out of Consultant's breach of the provisions of Section 10 above or upon termination for Cause. The provisions of this Section 11 shall survive termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Amendment*. Any term of this Agreement may be amended or waived only with the written consent of each of the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Entire Agreement*. This Agreement constitutes the entire agreement of the parties with respect to the subject matter of this Agreement and supersedes all oral negotiations and prior writings with respect to the subject matter hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Notices*. Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient (i) upon receipt, when delivered personally or by courier, overnight delivery service, or confirmed e-mail, or (ii) 72 hours after being sent by USPS Priority Mail with postage prepaid, if such notice is addressed to the party to be notified at such party's address or email address as set forth below, or as subsequently modified by written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Assignment; Consultant's Employees*. The Company is entering into this Agreement in order to secure the Services of Consultant. Consultant shall not assign or delegate her duties or obligations hereunder to any other person, and shall not employ any person or agent to perform such duties or obligations, without the prior written consent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *Choice of Law*. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Nevada, without giving effect to the principles of conflict of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *Resolution of Disputes*. Any controversy or dispute between the parties that arises out of this Agreement, the interpretation of any of the provisions hereof, or the action or inaction of party hereunder, shall be submitted to binding arbitration by JAMS in Alameda County or Contra Costa County, California. The arbitrator shall issue a written opinion of his or her decision, which shall be based on the substantive laws of the State of Nevada. Any award or decision obtained from any such arbitration proceeding shall be final and binding on the parties, and judgment upon any award thus obtained may be entered in any court having jurisdiction thereof. No action at law or in equity based upon any claim arising out of or related to this Agreement shall be instituted in any court by any party except (i) an action to compel arbitration pursuant to this Section 12(f), (ii) an action to enforce an award obtained in an arbitration proceeding in accordance with this Section 12(f), or (iii) an action in equity for a preliminary or permanent injunction pursuant to Section 10 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) *Severability*. If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) *Counterparts*. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Advice of Counsel*. Each party acknowledges that, in negotiating and executing this Agreement, such party has obtained, or has adequate opportunity to obtain, the advice of independent legal counsel, and that the terms of this Agreement shall not be construed against the party preparing this Agreement or any provision hereof.

 

*[Signature Page Follows]*

 

IN WITNESS WHEREOF, the parties have executed this Consulting Agreement as of October 23, 2024.

---

| | | |
|:---|:---|:---|
| **COMPANY:** | COLLAB CA LLC, | COLLAB CA LLC, |
|  | a California limited liability company | a California limited liability company |
|  | By: | /s/ *Aileen Lai* |
|  | Name: | Aileen Lai |
|  | Title: | Manager |
|  |  | 10/23/2024 |

---

---

| | |
|:---|:---|
| **CONSULTANT:** | **/s/ *Zhaoju ("Kelly") Shen*** |
|  | Zhaoju ("Kelly") Shen |
|  | 10/23/2024 |

---

## Exhibit 10.10

**Exhibit 10.10**

**COLLAB Z INC.**

**BOARD OF DIRECTORS AGREEMENT**

This **BOARD OF DIRECTORS AGREEMENT** (**"Agreement"**) dated as of May 1, 2025, by and between Collab Z Inc., a Nevada corporation (the **"Company"**), and William J. Caragol (the **"Chairman"** or the **"Director"**), provides for director services, according to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;I. <u>Position and Responsibilities</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Position</u>. As of the Effective Date, the Board of Directors hereby appoints the Chairman to serve as a Board member until the
next annual meeting of the Company's shareholders or until his earlier resignation, removal or death. The
Chairman shall perform such duties and responsibilities as are customarily related to such position in accordance with
Company's bylaws and applicable law, including, but not limited to, those services described on **Exhibit A** attached
hereto (the "Services"). Chairman hereby agrees to use his best efforts to provide the Services. Chairman shall not
allow any other person or entity to perform any of the Services for or instead of Director. Chairman shall comply with the statutes,
rules, regulations and orders of any governmental or quasi-governmental authority, which are applicable to the Company and the
performance of the Services, and Company's rules, regulations, and practices as they may from time-to-time be adopted or
modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Other Activities</u>. Director may be employed by another company, may serve on other Boards of Directors or Advisory Boards, and
may engage in any other business activity (whether or not pursued for pecuniary advantage), as long as such outside activities do not
violate Director's obligations under this Agreement or
Director's fiduciary obligations to the Company's shareholders. The ownership of less than a 5% interest in an entity,
by itself, shall not constitute a violation of this duty. Director represents that Director has no outstanding agreement or
obligation that is in conflict with any of the provisions of this Agreement, and Director agrees to use his best efforts to avoid or
minimize any such conflict and agrees not to enter into any agreement or obligation that could create such a conflict without the
approval of a majority of the Board of Directors. If, at any time, Director is required to make any disclosure or take any action
that may conflict with any of the provisions of this Agreement, Director will promptly notify the Board of such obligation, prior to
making such disclosure or taking such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Conflict</u>. Director will not engage in any activity that creates an actual or perceived conflict of interest with Company,
regardless of whether such activity is prohibited by Company's conflict of interest guidelines or this Agreement, and Director agrees
to notify the Board of Directors before engaging in any activity that could reasonably be assumed to create a potential conflict of interest
with Company. Notwithstanding the provisions of <u>Section 1(b)</u> hereof, Director shall not engage in any activity that
is in direct competition with the Company or serve in any capacity (including, but not limited to, as an employee, consultant,
advisor or director) in any company or entity that competes directly or indirectly with the Company, as reasonably determined by a
majority of Company's disinterested board members, without the approval of the Board of Directors.

The Director agrees, subject to the Director's continued status as a director, to serve on the Company's Board of Directors (the **"Board"**) and to provide those services required of a director under the Company's amended and restated certificate of incorporation and amended and restated bylaws, as both may be amended from time to time (**"Charter Documents"**) and under the federal securities laws and other state and federal laws and regulations, as applicable, and the rules and regulations of the U.S. Securities and Exchange Commission (the **"SEC"**) and any stock exchange or quotation system on which the Company's securities may be traded from time to time. Director will also serve on such one or more committees of the Board as he or she and the Board shall mutually agree.

&nbsp;&nbsp;&nbsp;&nbsp;II. <u>Nature of Relationship</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director is an independent contractor and will not be deemed as an employee of the Company for any purposes by virtue of this
Agreement. The Director shall be solely responsible for the payment or withholding of all federal, state, or local income taxes,
social security taxes, unemployment taxes, and any and all other taxes relating to the compensation he or she earns under this
Agreement. The Director shall not, in his or her capacity as a director of the Company, enter into any agreement or incur any
obligations on the Company's behalf, without appropriate Board action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company will supply, at no cost to the Director: periodic briefings on the business, director packages for each board and committee
meeting, copies of minutes of meetings and any other materials that are required under the Company's Charter Documents or the charter
of any committee of the Board on which the Director serves and
any other materials which may, by mutual agreement, be necessary for performing the services requested under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;III. <u>Director's Representations and Warranties</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director represents and warrants that no other party has exclusive rights to his services in the specific areas in which the Company
is conducting business and that the Director is in no way compromising any rights or trust between any other party and the Director or
creating a conflict of interest as a result of his or her participation on the Board. The Director also represents, warrants and covenants
that so long as the Director serves on the Board, the Director will not enter into another agreement that will create a conflict of interest
with this Agreement or the Company. The Director further represents, warrants and covenants that he or she will comply with the Company's Articles,
Bylaws, policies and guidelines, all applicable laws and regulations, including Sections 10 and 16 of the Securities Exchange Act of
1934, as amended, and listing rules of The Nasdaq Stock Market LLC or any other stock exchanges on which the Company's
securities may be traded; that if he or she is designated by the Board as an independent director, he or she shall promptly notify
the Board of any circumstances that may potentially impair his or her independence as a director of the Company; and that he or she
shall promptly notify the Board of any arrangements or agreements relating to compensation provided by a third party to him or her
in connection with his or her status as a director or director nominee of the Company or the services requested under this
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Throughout the term of this Agreement, the Director agrees he or she will not, without obtaining the Company's
prior written consent, directly or indirectly engage or prepare to engage in any activity in competition with the Company's
business, products or services, including without limitation, products or services in the development stage, accept employment or provide
services to (including but not limited to service as a member of a board of directors), or establish a business in competition with the
Company; provided, however, that the Director may serve or continue to serve as an officer or director of one or more entities that are
affiliated with the Company, including without limitation, entities in which the Company does not have a majority holding.

&nbsp;&nbsp;&nbsp;&nbsp;IV. <u>Fees</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Cash Fee</u>. Subject to <u>Section VI</u> and during the term of this Agreement, the Company shall pay the Director, a monthly
fee of $24,000 per quarter ()"**Base Fee**") in consideration for the Director providing the services described in <u>Section I</u> which shall compensate him or her for all time spent preparing for, travelling to (if applicable) and attending Board or
committee meetings. The Chairman will also be eligible for a performance-based bonus of 15% of the annualized Base Fee, as
determined by the Board of Directors, at the one year anniversary of the Effective Date. These cash fees may be revised by action of
the Board from time to time. Such revision shall be effective as of the date specified in the resolution for payments not yet earned
and need not be documented by an amendment to this Agreement to be effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Payment</u>. The Base Fee shall be paid monthly at the beginning of each calendar month. No invoices need be submitted by the Director
for payment of the Base Fee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Equity Compensation</u>. For services as a member of the Board, on the Effective Date, the Company will grant the Director a
non-qualified stock option (the "**Option**") under the Collab Z, Inc. 2025 Equity Incentive Plan to purchase 100,000
shares of common stock at an exercise price of $2.00 per share of Common Stock. The Option shall vest upon the successful closing of
the Company's IPO and commencement of trading on the Nasdaq Capital Markets. The Chairman will also be eligible for a
performance-based bonus of 20,000 additional options, priced at the then market price of the Company's common stock, as
determined by the Board of Directors, at the one year anniversary of the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. <u>Expenses</u>. During the term of this Agreement, the Company will reimburse the Director for reasonable business related expenses
approved by the Company in advance, such approval not to be unreasonably withheld. Invoices for expenses, with receipts attached, shall
be submitted. Such invoices must be approved by the Company's Chief Executive Officer or Chief Financial Officer as to form and
completeness.

&nbsp;&nbsp;&nbsp;&nbsp;V. <u>Indemnification and Insurance</u> 

Prior to the Company's IPO, the Company will execute an indemnification agreement in favor of the Director substantially in the form of the agreement attached hereto as **Exhibit B** (the **"Indemnification Agreement"**). In addition, so long as the Company's indemnification obligations exist under the Indemnification Agreement, at or prior to the IPO, the Company shall provide the Director with directors' and officers' liability insurance coverage in the amounts specified in the Indemnification Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;VI. <u>Term of Agreement and Amendments</u> 

This Agreement shall commence as of May 1, 2025 (the "**Effective Date**"), and shall continue for a period of one (1) year from the Effective Date and shall continue thereafter for as long as Director is elected as a member of the Board of Directors by the shareholders of the Company unless the Board determines not to renew this Agreement. Any amendment to this Agreement must be approved by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;VII. <u>Termination</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. This Agreement shall automatically terminate upon the death of the Director or upon his resignation or removal from, or failure to
win election or reelection to, the Board. In the event of expiration or termination of this Agreement, the Director agrees to return or
destroy any materials transferred to the Director under this Agreement
except as may be necessary to fulfill any outstanding obligations hereunder. The Director agrees that the Company has the right of injunctive
relief to enforce this provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Company's and the Director's continuing obligations hereunder in the event of expiration or termination of this Agreement
shall be subject to the terms of <u>Section XIV</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;VIII. <u>Limitation of Liability and Force Majeure</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Under no circumstances shall the Company be liable to the Director for any consequential damages claimed by any other party as a result of representations
made by the Director with respect to the Company which are materially different from any to those made in writing by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Furthermore, except for the maintenance of confidentiality, neither party shall be liable to the other for delay in any performance,
or for failure to render any performance under this Agreement when such delay or failure is caused
by Government regulations (whether or not valid), fire, strike, differences with workmen, illness of employees, flood, accident, or
any other cause or causes beyond reasonable control of such delinquent party.

&nbsp;&nbsp;&nbsp;&nbsp;IX. <u>Confidentiality and Use of Director Information</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Director agrees to sign and abide by the Company's Proprietary Information Agreement as separately provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Director explicitly consents to the Company holding and processing both electronically and manually the information that he or
she provides to the Company or the data that the Company collects which relates to the Director for the purpose of the administration,
management and compliance purposes, including but not limited
to the Company's disclosure of any and all information provided by the Director in the Company's proxy statements,
annual reports or other securities filings or reports pursuant to federal or state securities laws or regulations, and the Director
agrees to promptly notify the Company of any misstatement of a material fact regarding the Director, and of the omission of any material
fact necessary to make the statements contained in such documents regarding the Director not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;X. <u>Dispute Resolution</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. *Jurisdiction and Venue*. The parties agree that any suit, action, or proceeding between Director
and Company (and its affiliates, shareholders, directors, officers, employees, members, agents, successors, attorneys, and assigns) relating
to this Agreement shall be brought in either the United States District Court for the State of
Nevada or in a Nevada state court and that the parties shall submit to the jurisdiction of such court. The parties irrevocably
waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such suit, action or
proceeding brought in such court. If any one or more provisions of this Section shall for any reason be held invalid or
unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent necessary to
make it or its application valid and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. *Attorneys' Fees*. Should any litigation, arbitration or other proceeding be commenced between the parties concerning the
rights or obligations of the parties under this Agreement, the party prevailing in such proceeding shall be entitled, in addition to such
other relief as may be granted, to a reasonable sum as and for its attorneys'
fees in such proceeding. This amount shall be determined by the court in such proceeding or in a separate action brought for that purpose.
In addition to any amount received as attorneys' fees, the prevailing party also shall be entitled to receive from the party held
to be liable, an amount equal to the attorneys' fees and costs incurred in enforcing any judgment against such party. This Section
is severable from the other provisions of this Agreement and survives any judgment and is not deemed merged into any judgment.

&nbsp;&nbsp;&nbsp;&nbsp;XI. <u>Entire Agreement</u> 

This Agreement (including agreements executed in substantially the form of the exhibits attached hereto) supersedes all prior or contemporaneous written or oral understandings or agreements, and, except as otherwise set forth herein, may not be added to, modified, or waived, in whole or in part, except by a writing signed by the party against whom such addition, modification or waiver is sought to be asserted.

&nbsp;&nbsp;&nbsp;&nbsp;XII. <u>Assignment</u> 

This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns and, except as otherwise expressly provided herein, neither this Agreement, nor any of the rights, interests or obligations hereunder shall be assigned by either of the parties hereto without the prior written consent of the other party.

&nbsp;&nbsp;&nbsp;&nbsp;XIII. <u>Notices</u> 

Any and all notices, requests and other communications required or permitted hereunder shall be in writing, registered mail or by facsimile, to each of the parties at the addresses provided. Any such notice shall be deemed given when received and notice given by registered mail shall be considered to have been given on the tenth (10th) day after having been sent in the manner provided for above.

&nbsp;&nbsp;&nbsp;&nbsp;XIV. <u>Survival of Obligations</u> 

Notwithstanding the expiration or termination of this Agreement, neither party hereto shall be released hereunder from any liability or obligation to the other which has already accrued as of the time of such expiration or termination (including, without limitation, the Director's obligations under the Proprietary Information Agreement, the Company's obligation to make any fees and expense payments required pursuant to <u>Section IV</u> due up to the date of the expiration or termination, and the Company's indemnification and insurance obligations set forth in <u>Section V</u> hereof) or which thereafter might accrue in respect of any act or omission of such party prior to such expiration or termination.

&nbsp;&nbsp;&nbsp;&nbsp;XV. <u>Attorneys' Fees</u> 

If any legal action or other proceeding is brought for the enforcement of this Agreement, or because of a dispute, breach or default in connection with any of the provisions hereof, the successful or substantially prevailing party (including a party successful or substantially prevailing in defense) shall be entitled to recover its actual attorneys' fees and other costs incurred in that action or proceeding, in addition to any other relief to which it may be entitled.

&nbsp;&nbsp;&nbsp;&nbsp;XVI. <u>Severability</u> 

Any provision of this Agreement which is determined to be invalid or unenforceable shall not affect the remainder of this Agreement, which shall remain in effect as though the invalid or unenforceable provision had not been included herein, unless the removal of the invalid or unenforceable provision would substantially defeat the intent, purpose or spirit of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;XVII. <u>Counterparts</u> 

This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one instrument. Execution and delivery of this Agreement by facsimile or other electronic signature is legal, valid and binding for all purposes.

[*SIGNATURE PAGE FOLLOWS]*

 

**IN WITNESS WHEREOF**, the parties hereto have caused this Board of Directors Agreement to be executed as of the date first written above.

---

| | |
|:---|:---|
| **COLLAB Z INC.** | **COLLAB Z INC.** |
| By: | */s/ Qian Wang* |
|  | Qian Wang |
|  | Director |

---

---

| | |
|:---|:---|
| **CHAIRMAN/DIRECTOR:** | **CHAIRMAN/DIRECTOR:** |
| By: | /s/ *William J. Caragol* |
|  | William J. Caragol |
|  | Chairman of the Board |

---

**EXHIBIT A**

This Exhibit is intended to specify the services and tasks to be performed by William J. Caragol as Chairman of the Board of Collab Z, Inc., beginning May 1, 2025. This list and associated tasks may be edited to include new tasks, to remove tasks and change tasks at the mutual agreement of the Board and Mr. Caragol.

1. Mr. Caragol (the "Chairman") will join the Board of Directors as of May 1, 2025 and will serve as the Chairman of the
Board.

2. The Chairman will be a non-employee director (independent) and will manage board recruitment and board committee establishment.

3. Oversee and advise on the execution of the Company's IPO – targeted for summer of 2025; initial focus on preparation for
IPO road show. Support CEO and CFO during IPO process.

4. Work with management to fully capitalize the Company for the successful execution of its business plan – full capitalization
being at least 24 months of burn/growth capital on the balance sheet (target between private round and IPO is $8-$10 million, gross).

5. Work with the Board to evaluate and formulate the go forward management and the Board to fit the Company's post-IPO growth strategy
as a public company.

6. Work with the Board and management to support Collab Z post-IPO to execute its growth strategy, measured
by sustainable recurring revenue growth and the KPIs identified in the S-1.

&nbsp;&nbsp;&nbsp;&nbsp;7. Work with management to prepare the Collab Z org chart.

&nbsp;&nbsp;&nbsp;&nbsp;8. Work with Board and management to finalize early May stock option grants.

9. Coordinate directly with officers and employees on communication and execution of strategy, in conjunction with CEO.

10. Assist CEO and CFO to execute company strategy and to develop professional team.

**PROPRIETARY INFORMATION <br> AND**

**INVENTIONS AGREEMENT**

This Proprietary Information and Inventions Agreement (this "**Agreement**") is entered into as of this 6<sup>th</sup> day of May, 2025 by and between Collab Z Inc. (the "**Company**") and William J. Caragol ("**Director**").

1.  **<u>Definitions</u>** . For the purposes of this Agreement, the following terms shall have the meanings
specified below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** "**Company Documents**" shall mean documents or other media that contain Proprietary Information
or any other information concerning the business, operations or plans of the Company, whether such documents have been prepared by me
or by others. "**Company Documents**" shall include, but not be limited to, blueprints, drawings, photographs, charts,
graphs, notebooks, customer lists, computer disks, tapes or printouts, sound recordings and other printed, typewritten or handwritten
documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b.** "**Inventions**" shall mean all improvements, inventions, works of authorship, mask works,
computer programs, formulae, ideas, processes, techniques, know-how, and data, whether or not patentable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c.** "**Proprietary Information**" shall mean information (whether now existing or hereafter
created or acquired) developed, created, or discovered by the Company, or which became known by, or was conveyed to the Company, which
has commercial value in the Company's business. "**Proprietary Information**" shall include, but not be limited to,
domain names, trade secrets, copyrights, ideas, techniques, know-how, inventions (whether patentable or not), and/or any other information
of any type relating to designs, configurations, toolings, documentation, recorded data, schematics, circuits, mask works, layouts, source
code, object code, master works, master databases, algorithms, flow charts, formulae, works of authorship, mechanisms, research, manufacture,
improvements, assembly, installation, intellectual property including patents and patent applications, and the information concerning
the Company's actual or anticipated business, research or development, or which is received in confidence by or for the Company
from any other person.

2.  **<u>Proprietary Information; Inventions</u>** . In consideration of Director's employment by
the Company and the compensation received by Director from the Company from time to time, Director and the Company hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** All Proprietary Information and all patents, patent rights, copyrights, mask work rights, trade secrets,
moral rights and other rights in connection therewith shall be the sole property of the Company. Director hereby assigns to the Company
any and all rights Director may have or acquire in such Proprietary Information. At all times, both during Director's employment
by the Company and after termination of such employment, Director will keep in confidence and
trust and will not use or disclose any Proprietary Information or anything relating to it without the prior written consent of an executive
officer of the Company, except as may be necessary in the ordinary course of performing Director's duties to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b.** Director shall make and maintain adequate and current written records, in a form specified by the Company,
of all inventions, trade secrets and works of authorship assigned or to be assigned to the Company pursuant to this Agreement. All Company
Documents shall be the sole property of the Company. During the term of Director's employment by the Company, Director shall not
remove or electronically transmit any Company Documents from the business premises of the Company or deliver any Company Documents to
any person or entity outside the Company, except as required in connection with performing Director's duties of employment. Immediately
upon the termination of Director's employment for any reason, or during Director's employment if so requested by the Company,
Director shall return all Company Documents, apparatus, equipment, and other physical property, or any reproduction of such property,
excepting only (i) personal copies of records relating to Director's compensation; (ii) personal copies of any materials previously
distributed generally to shareholders of the Company; and (iii) Director's copy of this Agreement.

Director shall promptly disclose in writing to the President of the Company, or to any other person designated by the Company, all Inventions made or conceived or reduced to practice or developed by Director, either alone or jointly with others, during the term of Director's employment (i) that were created, developed or conceived during working hours or using Company property or (ii) that are related to, or have value in, the Company's business ("**Director Inventions**"). Director shall not disclose Inventions to any person outside the Company except pursuant to written directions from the President of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c.** All Director Inventions shall be the sole property of the Company. The Company shall be the sole owner
of all patents, copyrights and other intellectual property or other rights in connection therewith. Director further acknowledges and
agrees that such Inventions, including any computer programs, programming documentation, and other works of authorship, are "works
made for hire" for purposes of the Company's rights under copyright laws. Director hereby assigns to the Company any and all
rights Director may have or acquire in such Director Inventions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**d.** During Director's term of employment at the Company's sole cost and expense, Director
 shall perform all acts deemed reasonably necessary or desirable by the Company to permit and assist the Company in obtaining,
 maintaining, defending and enforcing patents, copyrights or other rights in Director Inventions and improvements in any and all
 countries. Such acts may include, but are not limited to, execution of documents and assistance or cooperation in legal proceedings.
 Director hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as Director's
 agent and attorney-in-fact to act for and on Director's behalf and instead of Director, to execute and file any applications
 or related findings and to do all other lawfully permitted acts to further
the prosecution and issuance of patents, copyrights or other rights thereon with the same legal force and effect as if executed by Director.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**e.** Attached hereto as <u>Exhibit A</u> is a complete list of all Inventions or improvements to which Director
claims ownership and that Director desires to remove from the operation of this Agreement ()"**Existing Inventions** "),
and Director acknowledges and agrees that such list is complete. If no such list is attached to this Agreement, Director represents that
Director has no Existing Inventions at the time of signing this Agreement. If, in the course of Director's employment with the Company,
Director incorporates into a Company product, process or machine an Existing Invention, the Company is hereby granted and shall have a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Existing Invention
solely as part of or in connection with such product, process or machine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**f.** Prior to submitting or disclosing for possible publication or dissemination outside the Company any material
prepared by Director that incorporates information that concerns the Company's business or anticipated research, Director shall
deliver a copy of such material to the President of the Company for his or her review. Within twenty (20) days of such submission, the Company
shall notify Director whether the Company believes such material contains any Proprietary Information, and Director shall make such deletions
and revisions reasonably requested by the Company to protect its Proprietary Information. Director shall obtain the consent of the Company
prior to any review of such material by persons outside the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**g.** Director represents that his or her performance of all terms of this Agreement does not and will not breach
any agreement to keep in confidence proprietary information, knowledge or data acquired by Director in confidence or in trust prior to
Director's employment by the Company. Director shall not disclose to the Company, or induce the Company to use, any confidential
or proprietary information or material belonging to any previous employers or others. Director represents and warrants that he or she
has returned all property and confidential information belonging to all prior employers. Director has not entered into, and Director shall
not enter into, any agreement either written or oral in conflict herewith or in conflict with my employment with the Company.

3.  **<u>Severability</u>** . If one or more provisions of this Agreement are held to be unenforceable under
applicable law, such provisions shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such
provisions were so excluded and shall be enforceable in accordance with its terms.

4.  **<u>Binding Effect</u>** . This Agreement shall be effective as of the date hereof and shall be binding
upon Director and Director's heirs, executor, assigns, and administrators, and shall inure to the benefit of the Company, its subsidiaries,
successors and assigns.

5.  **<u>Injunctive Relief</u>** . Director and the Company acknowledge and agree the covenants and obligations
contained in this Agreement relate to special, unique and extraordinary matters and that a violation of any of such covenants or obligations
may cause Director or the Company irreparable injury for which adequate remedy at law will not be available; and, therefore, that upon
any such breach of any such covenant or obligation, or any threat thereof, Director or the Company shall be entitled to the immediate
remedy of a temporary restraining order, preliminary injunction or such other form of injunctive or equitable relief in addition to whatever
remedies they might have at law.

6.  **<u>Modification</u>** . This Agreement can only be modified by a subsequent written agreement executed
by the Company and Director.

7.  **<u>Governing Law</u>** . All questions pertaining to the validity, construction, execution and performance
of this Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, without regard to its conflict
of law principles.

8.  **<u>Counterparts</u>** . This Agreement may be executed in counterparts, each of which shall be deemed
to be an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

---

| | | |
|:---|:---|:---|
| Collab Z Inc. | Collab Z Inc. | Collab Z Inc. |
| By: | /s/ *Qian Wang* | /s/ *Qian Wang* |
|  | Name: | Qian Wang |
|  | Title: | Director |

---

---

| | | |
|:---|:---|:---|
| DIRECTOR | DIRECTOR | DIRECTOR |
| By: | /s/ *William J. Caragol* | /s/ *William J. Caragol* |
|  | Name: | William J. Caragol |
|  | Title: | Chairman of the Board |

---

**<u>EXHIBIT A</u>**

**Director Inventions**

## Exhibit 10.11

**Exhibit 10.11**

**COLLAB Z INC.**

**2025 EQUITY INCENTIVE PLAN**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Purposes of the Plan**. The purposes of this Plan are:

● to attract and retain the best available personnel for positions of substantial responsibility,

● to provide additional incentive to Employees, Directors and Consultants, and

● to promote the success of the Company's business.

The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units and Performance Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Definitions**. As used herein, the following definitions will apply:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 "**Administrator**" means the Board or any of its Committees as will be administering the Plan, in accordance with <u>Section 4</u> of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 "**Applicable Laws**" means the legal and regulatory requirements relating to the administration of equity-based awards, including but not limited to the related issuance of shares of Common Stock, including but not limited to, under U.S. federal and state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any non-U.S. country or jurisdiction where Awards are, or will be, granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 "**Award**" means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, or Performance Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 "**Award Agreement**" means the written or electronic agreement setting forth the terms and provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 "**Board**" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 "**Change in Control**" means the occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) **Change in Ownership of the Company**. A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group ("**Person**"), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; provided, however, that for purposes of this subsection (a), the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company will not be considered a Change in Control; provided, further, that any change in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Board also will not be considered a Change in Control. Further, if the stockholders of the Company immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership of shares of the Company's voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of fifty percent (50%) or more of the total voting power of the stock of the Company or of the ultimate parent entity of the Company, such event will not be considered a Change in Control under this subsection (a). For this purpose, indirect beneficial ownership will include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations or other business entities; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Change in Effective Control of the Company**. If the Company has a class of securities registered pursuant to Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this subsection (b), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Change in Ownership of a Substantial Portion of the Company's Assets**. A change in the ownership of a substantial portion of the Company's assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such Person or Persons) assets from the Company that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (c), the following will not constitute a change in the ownership of a substantial portion of the Company's assets: (i) a transfer to an entity that is controlled by the Company's stockholders immediately after the transfer, or (ii) a transfer of assets by the Company to: (A) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company's stock, (B) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (C) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (D) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (c)(ii)(C). For purposes of this subsection (c), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

For purposes of this <u>Section 2.6</u>, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of Section 409A.

Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (x) its primary purpose is to change the jurisdiction of the Company's incorporation, or (y) its primary purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company's securities immediately before such transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 "**Clawback Policy**" has the meaning set forth in <u>Section 24</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;2.8 "**Code**" means the U.S. Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation or other formal guidance of general or direct applicability promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 "**Committee**" means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board, or by a duly authorized committee of the Board, in accordance with <u>Section 4</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 "**Common Stock**" means the common stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 "**Company**" means Collab Z Inc., a Nevada corporation, or any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 "**Consultant**" means any natural person, including an advisor, engaged by the Company or any of its Parent or Subsidiaries to render bona fide services to such entity, provided the services (a) are not in connection with the offer or sale of securities in a capital-raising transaction, and (b) do not directly promote or maintain a market for the Company's securities, in each case, within the meaning of Form S-8 promulgated under the Securities Act, and provided further, that a Consultant will include only those persons to whom the issuance of Shares may be registered under Form S-8 promulgated under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 "**Director**" means a member of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 "**Disability**" means total and permanent disability as defined in Code Section 22(e)(3), provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15 "**Employee**" means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director's fee by the Company will be sufficient to constitute "employment" by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16 "**Exchange Act**" means the U.S. Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 "**Exchange Program**" means a program under which (a) outstanding Awards are surrendered or cancelled in exchange for awards of the same type (which may have higher or lower exercise prices and different terms), awards of a different type, and/or cash, (b) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the Administrator, and/or (c) the exercise price of an outstanding Award is reduced or increased. The Administrator will determine the terms and conditions of any Exchange Program in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18 "**Fair Market Value**" means, as of any date and unless the Administrator determines otherwise, the value of Common Stock determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the Common Stock is listed on any established stock exchange or a national market system, including without limitation the New York Stock Exchange or the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for such stock (or, if no closing sales price was reported on that date, as applicable, on the last Trading Day such closing sales price was reported) as quoted on such exchange or system on the date of determination, as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if no bids and asks were reported on that date, as applicable, on the last Trading Day such bids and asks were reported), as reported in *The Wall Street Journal* or such other source as the Administrator deems reliable; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) for purposes of any Awards granted on the Registration Date, the Fair Market Value will be the initial price to the public as set forth in the final prospectus included within the registration statement on Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Common Stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) in the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator.

In addition, for purposes of determining the fair market value of shares for any reason other than the determination of the exercise price of Options or Stock Appreciation Rights, fair market value will be determined by the Administrator in a manner compliant with Applicable Laws and applied consistently for such purpose. The determination of fair market value for purposes of tax withholding may be made in the Administrator's sole discretion subject to Applicable Laws and is not required to be consistent with the determination of fair market value for other purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19 "**Fiscal Quarter**" means a fiscal quarter of a Fiscal Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20 "**Fiscal Year**" means the fiscal year of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21 "**Incentive Stock Option**" means an Option that by its terms qualifies and is otherwise intended to qualify as an incentive stock option within the meaning of Code Section 422 and the regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22 "**Legal Representative**" has the meaning set forth in <u>Section 6.6.4</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;2.23 "**Nonstatutory Stock Option**" means an Option that by its terms does not qualify or is not intended to qualify as an Incentive Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24 "**Officer**" means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25 "**Option**" means a stock option granted pursuant to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26 "**Outside Director**" means a Director who is not an Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27 "**Parent**" means a "parent corporation," whether now or hereafter existing, as defined in Code Section 424(e).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28 "**Participant**" means the holder of an outstanding Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29 <u>"**Performance Awards**</u>" means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be cash- or stock-denominated and may be settled for cash, Shares or other securities or a combination of the foregoing under <u>Section 10</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;2.30 "**Performance Period**" has the meaning set forth in <u>Section 10.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31 "**Period of Restriction**" means the period (if any) during which the transfer of Shares of Restricted Stock are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32 "**Person**" has the meaning set forth in <u>Section 2.6(a)</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;2.33 "**Plan**" means this Collab Z Inc. 2025 Equity Incentive Plan, as may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34 "**Registration Date**" means the effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12(b) of the Exchange Act, with respect to any class of the Company's securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35 "**Restricted Stock**" means Shares issued pursuant to an Award of Restricted Stock under <u>Section 8</u> of the Plan, or issued pursuant to the early exercise of an Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36 "**Restricted Stock Unit**" means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to <u>Section 9</u>. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.37 "**Rule 16b-3**" means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38 "**Section 16b**" means Section 16(b) of the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.39 "**Section 409A**" means Code Section 409A and the U.S. Treasury Regulations and guidance thereunder, and any applicable state law equivalent, as each may be promulgated, amended or modified from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40 "**Securities Act**" means the U.S. Securities Act of 1933, as amended, including the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.41 "**Service Provider**" means an Employee, Director or Consultant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.42 "**Share**" means a share of the Common Stock, as adjusted in accordance with <u>Section 15</u> of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.43 "**Stock Appreciation Right**" means an Award, granted alone or in connection with an Option, that pursuant to <u>Section 7</u> is designated as a Stock Appreciation Right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.44 "**Subsidiary**" means a "subsidiary corporation," whether now or hereafter existing, as defined in Code Section 424(f).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45 "**Trading Day**" means a day that the primary stock exchange, national market system, or other trading platform, as applicable, upon which the Common Stock is listed (or otherwise trades regularly, as determined by the Administrator, in its sole discretion) is open for trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.46 "**U.S. Treasury Regulations**" means the Treasury Regulations of the Code. Reference to a specific Treasury Regulation or Section of the Code will include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **Stock Subject to the Plan**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 **Stock Subject to the Plan**. Subject to adjustment upon changes in capitalization of the Company as provided in <u>Section 15</u> of the Plan and the automatic increase set forth in <u>Section 3.2</u> of the Plan, the maximum aggregate number of Shares that may be subject to Awards and sold under the Plan will be equal to 763,708 Shares.

In addition, Shares may become available for issuance under <u>Sections 3.2</u> and <u>3.3</u> of the Plan. The Shares may be authorized but unissued, or reacquired Common Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 **Automatic Share Reserve Increase**. Subject to adjustment upon changes in capitalization of the Company as provided in <u>Section 15</u>, the number of Shares available for issuance under the Plan will be increased on the first day of each Fiscal Quarter beginning with [ ], in an amount equal to the least of (a) a number of Shares equal to fifteen percent (15%) of the total number of shares of all classes of common stock of the Company outstanding on the last day of the immediately preceding Fiscal Quarter, or (b) such number of Shares determined by the Administrator no later than the last day of the immediately preceding Fiscal Quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 **Lapsed Awards**. If an Award expires or becomes unexercisable without having been exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock, Restricted Stock Units, or Performance Awards is forfeited to or repurchased by the Company due to the failure to vest, the unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock Appreciation Rights, only Shares actually issued (i.e., the net Shares issued) pursuant to a Stock Appreciation Right will cease to be available under the Plan; all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that actually have been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units or Performance Awards are repurchased by the Company or are forfeited to the Company due to the failure to vest, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax liabilities or withholdings related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in <u>Section 15</u>, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in <u>Section 3.1</u>, plus, to the extent allowable under Code Section 422 and the U.S. Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to <u>Sections 3.2</u> and <u>3.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 **Share Reserve**. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **Administration of the Plan**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 **Procedure**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.1 **Multiple Administrative Bodies**. Different Committees with respect to different groups of Service Providers may administer the Plan. The Compensation Committee of the Board initially will be the Administrator of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.2 **Rule 16b-3**. To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1.3 **Other Administration**. Other than as provided above, the Plan will be administered by (i) the Board or (ii) a Committee, which Committee will be constituted to comply with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 **Powers of the Administrator**. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to determine the Fair Market Value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to select the Service Providers to whom Awards may be granted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to determine the number of Shares or dollar amounts to be covered by each Award granted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to approve forms of Award Agreements for use under the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Award or the Shares relating thereto (including but not limited to, temporarily suspending the exercisability of an Award if the Administrator deems such suspension to be necessary or appropriate for administrative purposes or to comply with Applicable Laws, provided that such suspension must be lifted prior to the expiration of the maximum term and post-termination exercisability period of an Award), based in each case on such factors as the Administrator will determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) to institute and determine the terms and conditions of an Exchange Program, including, subject to <u>Section 20.3</u>, to unilaterally implement an Exchange Program without the consent of the applicable Award holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of facilitating compliance with applicable non-U.S. laws, easing the administration of the Plan and/or for qualifying for favorable tax treatment under applicable non-U.S. laws, in each case as the Administrator may deem necessary or advisable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) to modify or amend each Award (subject to <u>Section 20.3</u>), including but not limited to the discretionary authority to extend the post-termination exercisability period of Awards and to extend the maximum term of an Option or Stock Appreciation Right (subject to <u>Sections 6.4</u> and <u>7.5</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) to allow Participants to satisfy withholding tax obligations in a manner prescribed in <u>Section 16</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that otherwise would be due to such Participant under an Award; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) to make all other determinations deemed necessary or advisable for administering the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 **Effect of Administrator's Decision**. The Administrator's decisions, determinations and interpretations will be final and binding on all Participants and any other holders of Awards and will be given the maximum deference permitted by Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **Eligibility**. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units and Performance Awards may be granted to Service Providers. Incentive Stock Options may be granted only to Employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **Stock Options**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 **Grant of Options**. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant Options to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 **Option Agreement**. Each Award of an Option will be evidenced by an Award Agreement that will specify the exercise price, the term of the Option, the number of Shares subject to the Option, the exercise restrictions, if any, applicable to the Option, and such other terms and conditions as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 **Limitations**. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. Notwithstanding such designation, however, to the extent that the aggregate fair market value of the shares with respect to which incentive stock options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds One Hundred Thousand Dollars ($100,000), such Options will be treated as nonstatutory stock options. For purposes of this <u>Section 6.3</u>, incentive stock options will be taken into account in the order in which they were granted, the fair market value of the Shares will be determined as of the time the Option with respect to such Shares is granted, and calculation will be performed in accordance with Code Section 422 and the U.S. Treasury Regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 **Term of Option**. The term of each Option will be stated in the Award Agreement; provided, however, that the term will be no more than ten (10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the term of the Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 **Option Exercise Price and Consideration**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.1 **Exercise Price**. The per Share exercise price for the Shares to be issued pursuant to the exercise of an Option will be determined by the Administrator, but will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. In addition, in the case of an Incentive Stock Option granted to an Employee who owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. Notwithstanding the foregoing provisions of this <u>Section 6.5.1</u>, Options may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Code Section 424(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.2 **Waiting Period and Exercise Dates**. At the time an Option is granted, the Administrator will fix the period within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5.3 **Form of Consideration**. The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration at the time of grant. Such consideration may consist entirely of: (a) cash (including cash equivalents); (b) check; (c) promissory note, to the extent permitted by Applicable Laws, (d) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such Option will be exercised and provided further that accepting such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion; (e) consideration received by the Company under a cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection with the Plan; (f) by net exercise; (g) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws, or (h) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator will consider if acceptance of such consideration may be reasonably expected to benefit the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 **Exercise of Option**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.1 **Procedure for Exercise; Rights as a Stockholder**. Any Option granted hereunder will be exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share.

An Option will be deemed exercised when the Company receives: (a) notice of exercise (in such form as the Administrator may specify from time to time) from the person entitled to exercise the Option, and (b) full payment for the Shares with respect to which the Option is exercised (together with applicable tax withholdings). Full payment may consist of any consideration and method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the name of the Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in <u>Section 15</u> of the Plan.

Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.2 **Termination of Relationship as a Service Provider**. If a Participant ceases to be a Service Provider, other than upon such cessation as the result of the Participant's death or Disability, the Participant may exercise his or her Option within three (3) months of such cessation, or such shorter or longer period of time, as is specified in the Award Agreement, in no event later than the expiration of the term of such Option as set forth in the Award Agreement or <u>Section 6.4</u>. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if on such date of cessation the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan immediately. If after such cessation the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.3 **Disability of Participant**. If a Participant ceases to be a Service Provider as a result of the Participant's Disability, the Participant may exercise his or her Option within six (6) months of such cessation, or such longer or shorter period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or <u>Section 6.4</u>, as applicable) to the extent the Option is vested on such date of cessation. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if on the date of such cessation the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan immediately. If after such cessation the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.4 **Death of Participant**. If a Participant dies while a Service Provider, the Option may be exercised within six (6) months following the Participant's death, or within such longer or shorter period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement or <u>Section 6.4</u>, as applicable), by the Participant's designated beneficiary, provided such beneficiary has been designated prior to the Participant's death in a form (if any) acceptable to the Administrator. If the Administrator has not permitted the designation of a beneficiary or if no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant's estate or by the person(s) to whom the Option is transferred pursuant to the Participant's will or in accordance with the laws of descent and distribution (each, a "**Legal Representative**"). If the Option is exercised pursuant to this <u>Section 6.6.4</u>, Participant's designated beneficiary or Legal Representative shall be subject to the terms of this Plan and the Award Agreement, including but not limited to the restrictions on transferability and forfeitability applicable to the Service Provider. Unless otherwise provided by the Administrator or set forth in the Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan immediately. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6.5 **Tolling Expiration**. A Participant's Award Agreement may also provide that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if the exercise of the Option following the cessation of Participant's status as a Service Provider (other than upon the Participant's death or Disability) would result in liability under Section 16b, then the Option will terminate on the earlier of (i) the expiration of the term of the Option set forth in the Award Agreement, or (ii) the tenth (10<sup>th</sup>) day after the last date on which such exercise would result in liability under Section 16b; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if the exercise of the Option following the cessation of the Participant's status as a Service Provider (other than upon the Participant's death or Disability) would be prohibited at any time solely because the issuance of Shares would violate the registration requirements under the Securities Act, then the Option will terminate on the earlier of (i) the expiration of the term of the Option or (ii) the expiration of a period of thirty (30) days after the cessation of the Participant's status as a Service Provider during which the exercise of the Option would not be in violation of such registration requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **Stock Appreciation Rights**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 **Grant of Stock Appreciation Rights**. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 **Number of Shares**. The Administrator will have complete discretion to determine the number of Shares subject to any Award of Stock Appreciation Rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 **Exercise Price and Other Terms**. The per Share exercise price for the Shares that will determine the amount of the payment to be received upon exercise of a Stock Appreciation Right as set forth in <u>Section 7.6</u> will be determined by the Administrator and will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. Otherwise, the Administrator, subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 **Stock Appreciation Right Agreement**. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 **Expiration of Stock Appreciation Rights**. A Stock Appreciation Right granted under the Plan will expire upon the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of <u>Section 6.4</u> relating to the maximum term and <u>Section 6.6</u> relating to exercise also will apply to Stock Appreciation Rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 **Payment of Stock Appreciation Right Amount**. Upon exercise of a Stock Appreciation Right, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The number of Shares with respect to which the Stock Appreciation Right is exercised.

At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value, or in some combination thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. Restricted Stock**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 **Grant of Restricted Stock**. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 **Restricted Stock Agreement**. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of Restriction (if any), the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted Stock until the restrictions on such Shares have lapsed. The Administrator, in its sole discretion, may determine that an Award of Restricted Stock will not be subject to any Period of Restriction and consideration for such Award is paid for by past services rendered as a Service Provider.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 **Transferability**. Except as provided in this <u>Section 8</u> or as the Administrator determines, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 **Other Restrictions**. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as it may deem advisable or appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5 **Removal of Restrictions**. Except as otherwise provided in this <u>Section 8</u>, Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 **Voting Rights**. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7 **Dividends and Other Distributions**. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8 **Return of Restricted Stock to Company**. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **Restricted Stock Units**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 **Grant**. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the Administrator determines that it will grant Restricted Stock Units, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 **Vesting Criteria and Other Terms**. The Administrator will set vesting criteria in its discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of Company-wide, divisional, business unit, or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws or any other basis determined by the Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 **Earning Restricted Stock Units**. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 **Form and Timing of Payment**. Payment of earned Restricted Stock Units will be made at the time(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Restricted Stock Units in cash, Shares, or a combination of both.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 **Cancellation**. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **<u>Performance Awards</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;10.1 **<u>Award Agreement</u>**<u>.</u> Each Performance Award will be evidenced by an Award Agreement that will specify any time period during which any performance objectives or other vesting provisions will be measured ("Performance Period"), and such other terms and conditions as the Administrator determines. Each Performance Award will have an initial value that is determined by the Administrator on or before its date of grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 **<u>Objectives or Vesting Provisions and Other Terms.</u>** The Administrator will set any objectives or vesting provisions that, depending on the extent to which any such objectives or vesting provisions are met, will determine the value of the payout for the Performance Awards. The Administrator may set vesting criteria based upon the achievement of Company-wide, divisional, business unit, or individual goals (including, but not limited to, continued employment or service), applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 **Earning Performance <u>Awards</u>**. After an applicable Performance Period has ended, the holder of a Performance Award will be entitled to receive a payout for the Performance Award earned by the Participant over the Performance Period. The Administrator, in its discretion, may reduce or waive any performance objectives or other vesting provisions for such Performance Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 **Form and Timing of Payment**. Payment of earned Performance Awards will be made at the time(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Performance Awards in cash, Shares, or a combination of both.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 **Cancellation of Performance Awards**. On the date set forth in the Award Agreement, all unearned or unvested Performance Awards will be forfeited to the Company, and again will be available for grant under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **Outside Director Award Limitations**. No Outside Director may be granted, in any Fiscal Year, equity awards (including any Awards granted under this Plan), the value of which will be based on their grant date fair value determined in accordance with U.S. generally accepted accounting principles, and be provided any other compensation (including without limitation any cash retainers or fees) in amounts that, in the aggregate, exceed $500,000, provided that such amount is increased to $750,000 in the Fiscal Year of such individual's initial service as an Outside Director. Any Awards granted or other compensation provided to an individual (a) for such individual's services as an Employee, or for such individual's services as a Consultant (other than as an Outside Director), or (b) prior to the Registration Date, will be excluded for purposes of this <u>Section 11</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **Compliance With Section 409A**. Awards will be designed and operated in such a manner that they are either exempt from the application of, or comply with, the requirements of Section 409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A, except as otherwise determined in the sole discretion of the Administrator. The Plan and each Award Agreement under the Plan is intended to be exempt from or meet the requirements of Section 409A and will be construed and interpreted in accordance with such intent (including with respect to any ambiguities or ambiguous terms), except as otherwise determined in the sole discretion of the Administrator. To the extent that an Award or payment, or the settlement or deferral thereof, is subject to Section 409A the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A. In no event will the Company or any of its Parent or Subsidiaries have any responsibility, liability, or obligation to reimburse, indemnify, or hold harmless a Participant (or any other person) in respect of Awards, for any taxes, penalties or interest that may be imposed on, or other costs incurred by, Participant (or any other person) as a result of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. **Leaves of Absence/Transfer Between Locations**. Unless the Administrator provides otherwise or as otherwise required by Applicable Laws, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (a) any leave of absence approved by the Company or (b) transfers between locations of the Company or between the Company, its Parent, or any of its Subsidiaries. For purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first (1<sup>st</sup>) day of such leave, any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. **Limited Transferability of Awards**. Unless determined otherwise by the Administrator, Awards may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent and distribution (which, for purposes of clarification, shall be deemed to include through a beneficiary designation if available in accordance with <u>Section 6.6.4</u>), and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. **Adjustments; Dissolution or Liquidation; Merger or Change in Control**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1 **Adjustments**. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs (other than any ordinary dividends or other ordinary distributions), the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust the number and class of shares of stock that may be delivered under the Plan and/or the number, class, and price of shares of stock covered by each outstanding Award, and numerical Share limits in <u>Section 3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.2 **Dissolution or Liquidation**. In the event of the proposed dissolution or liquidation of the Company, the Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.3 **Merger or Change in Control**. In the event of a merger of the Company with or into another corporation or other entity or a Change in Control, each outstanding Award will be treated as the Administrator determines (subject to the provisions of the following paragraph) without a Participant's consent, including, without limitation, that (a) Awards will be assumed, or substantially equivalent awards will be substituted, by the acquiring or successor corporation (or an affiliate thereof) with appropriate adjustments as to the number and kind of shares and prices; (b) upon written notice to a Participant, that the Participant's Awards will terminate upon or immediately prior to the consummation of such merger or Change in Control; (c) outstanding Awards will vest and become exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior to or upon consummation of such merger or Change in Control, and, to the extent the Administrator determines, terminate upon or immediately prior to the effectiveness of such merger or Change in Control; (d) (i) the termination of an Award in exchange for an amount of cash and/or property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant's rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant's rights, then such Award may be terminated by the Company without payment), or (ii) the replacement of such Award with other rights or property selected by the Administrator in its sole discretion; or (e) any combination of the foregoing. In taking any of the actions permitted under this <u>Section 15.3</u>, the Administrator will not be obligated to treat all Awards, all Awards held by a Participant, all Awards of the same type, or all portions of Awards, similarly.

In the event that the acquiring or successor corporation (or an affiliate thereof) does not assume the Award (or portion thereof) as described below or substitute for the Award (or portion thereof) as described above, then the Participant will fully vest in and have the right to exercise his or her outstanding Options and Stock Appreciation Rights (or portions thereof) not assumed or substituted for, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock, Restricted Stock Units, or Performance Awards (or portions thereof) not assumed or substituted for will lapse, and, with respect to Awards with performance-based vesting (or portions thereof) not assumed or substituted for, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, in each case, unless specifically provided otherwise under the applicable Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable. In addition, unless specifically provided otherwise under the applicable Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable, if an Option or Stock Appreciation Right (or portion thereof) is not assumed or substituted in the event of a merger or Change in Control, the Administrator will notify the Participant in writing or electronically that the Option or Stock Appreciation Right (or its applicable portion) will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right (or its applicable portion) will terminate upon the expiration of such period.

For the purposes of this <u>Section 15.3</u> and <u>Section 15.4</u> below, an Award will be considered assumed if, following the merger or Change in Control, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the merger or Change in Control, the consideration (whether stock, cash, or other securities or property) received in the merger or Change in Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the merger or Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit or Performance Award, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the merger or Change in Control.

Notwithstanding anything in this <u>Section 15.3</u> to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant's consent, in all cases, unless specifically provided otherwise under the applicable Award Agreement or other written agreement authorized by the Administrator between the Participant and the Company or any of its Subsidiaries or Parents, as applicable; provided, however, a modification to such performance goals only to reflect the successor corporation's post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

Notwithstanding anything in this <u>Section 15.3</u> to the contrary, and unless otherwise provided in an Award Agreement, if an Award that vests, is earned or paid-out under an Award Agreement is subject to Section 409A and if the change in control definition contained in the Award Agreement (or other agreement related to the Award, as applicable) does not comply with the definition of "change in control" for purposes of a distribution under Section 409A, then any payment of an amount that is otherwise accelerated under this <u>Section 15.3</u> will be delayed until the earliest time that such payment would be permissible under Section 409A without triggering any penalties applicable under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.4 **Outside Director Awards**. With respect to Awards granted to an Outside Director, in the event of a Change in Control, the Participant will fully vest in and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying such Award, including those Shares which would not be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met, unless specifically provided otherwise under the applicable Award Agreement or other written agreement between the Participant and the Company or any of its Subsidiaries or Parents, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. **Tax Withholding**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1 **Withholding Requirements**. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof) or such earlier time as any tax withholdings are due, the Company (or any of its Parent, Subsidiaries, or affiliates employing or retaining the services of a Participant, as applicable) will have the power and the right to deduct or withhold, or require a Participant to remit to the Company (or any of its Parent, Subsidiaries, or affiliates, as applicable) or a relevant tax authority, an amount sufficient to satisfy U.S. federal, state, local, non-U.S., and other taxes (including the Participant's FICA or other social insurance contribution obligation) required to be withheld or paid with respect to such Award (or exercise thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2 **Withholding Arrangements**. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax liability or withholding obligation, in whole or in part by such methods as the Administrator shall determine, including, without limitation, (a) paying cash, check or other cash equivalents, (b) electing to have the Company withhold otherwise deliverable cash or Shares having a fair market value equal to the minimum statutory amount required to be withheld or such greater amount as the Administrator may determine if such amount would not have adverse accounting consequences, as the Administrator determines in its sole discretion, (c) delivering to the Company already-owned Shares having a fair market value equal to the minimum statutory amount required to be withheld or such greater amount as the Administrator may determine, in each case, provided the delivery of such Shares will not result in any adverse accounting consequences, as the Administrator determines in its sole discretion, (d) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld or paid, (e) such other consideration and method of payment for the meeting of tax liabilities or withholding obligations as the Administrator may determine to the extent permitted by Applicable Laws, or (f) any combination of the foregoing methods of payment. The amount of the withholding obligation will be deemed to include any amount which the Administrator agrees may be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax rates applicable to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined or such greater amount as the Administrator may determine if such amount would not have adverse accounting consequences, as the Administrator determines in its sole discretion. The fair market value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. **No Effect on Employment or Service**. Neither the Plan nor any Award will confer upon a Participant any right with respect to continuing the Participant's relationship as a Service Provider with the Company or its Subsidiaries or Parents, as applicable, nor will they interfere in any way with the Participant's right or the right of the Company and its Subsidiaries or Parents, as applicable, to terminate such relationship at any time, free from any liability or claim under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. **Date of Grant**. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. **Effective Date; Term of Plan**. Subject to <u>Section 23</u> of the Plan, the Plan will become effective upon the later to occur of (i) its adoption by the Board or (ii) the business day immediately prior to the Registration Date. It will continue in effect until terminated under <u>Section 20</u>, but no Incentive Stock Options may be granted after 10 years from the date adopted by the Board and <u>Section 3.2</u> will operate only until the 10<sup>th</sup> anniversary of the date the Plan is adopted by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. **Amendment and Termination of the Plan**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.1 **Amendment and Termination**. The Administrator, in its sole discretion, may amend, alter, suspend or terminate the Plan, or any part thereof, at any time and for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.2 **Stockholder Approval**. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to comply with Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.3 **Effect of Amendment or Termination**. No amendment, alteration, suspension or termination of the Plan will materially impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator's ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. **Conditions Upon Issuance of Shares**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.1 **Legal Compliance**. Shares will not be issued pursuant to an Award unless the exercise or vesting of such Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.2 **Investment Representations**. As a condition to the exercise or vesting of an Award, the Company may require the person exercising or vesting in such Award to represent and warrant at the time of any such exercise or vesting that the Shares are being acquired only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. **Inability to Obtain Authority**. If the Company determines it to be impossible or impractical to obtain authority from any regulatory body having jurisdiction or to complete or comply with the requirements of any registration or other qualification of the Shares under any U.S. state or federal law or non-U.S. law or under the rules and regulations of the U.S. Securities and Exchange Commission, the stock exchange on which Shares of the same class are then listed, or any other governmental or regulatory body, which authority, registration, qualification or rule compliance is deemed by the Company's counsel to be necessary or advisable for the issuance and sale of any Shares hereunder, the Company will be relieved of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority, registration, qualification or rule compliance will not have been obtained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. **Forfeiture Events**. The Administrator may specify in an Award Agreement that the Participant's rights, payments, and benefits with respect to an Award will be subject to the reduction, cancellation, forfeiture, recoupment, reimbursement, or reacquisition upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, without limitation, termination of such Participant's status as an employee and/or other service provider for cause or any specified action or inaction by a Participant, whether before or after such termination of employment and/or other service, that would constitute cause for termination of such Participant's status as an employee and/or other service provider. Notwithstanding any provisions to the contrary under this Plan, all Awards granted under the Plan will be subject to reduction, cancellation, forfeiture, recoupment, reimbursement, or reacquisition under any clawback policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company's securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other Applicable Laws (the "**Clawback Policy**"). The Administrator may require a Participant to forfeit, or return to the Company, or reimburse the Company for, all or a portion of the Award and any amounts paid thereunder pursuant to the terms of the Clawback Policy or as necessary or appropriate to comply with Applicable Laws, including without limitation any reacquisition right regarding previously acquired Shares or other cash or property. Unless this <u>Section 24</u> specifically is mentioned and waived in an Award Agreement or other document, no recovery of compensation under a Clawback Policy or otherwise will constitute an event that triggers or contributes to any right of a Participant to resign for "good reason" or "constructive termination" (or similar term) under any agreement with the Company or any Parent or Subsidiary of the Company.

\* \* \*

## Exhibit 10.12

**Exhibit 10.12**

**SECURITIES PURCHASE AGREEMENT**

This Securities Purchase Agreement (the "**Agreement**") is made and entered into as of __, 2025, by and among Collab Z Inc., a Nevada corporation (the "**Company**"), and each individual or entity named on the Schedule of Investors attached hereto (each such individual or entity, individually, a "**Investor**" and all of such individuals or entities, collectively, the "**Investors**" and together with the Company, the "**Parties**" and individually, a "**Party**").

**WHEREAS**, the Company has authorized the issuance by the Company of up to 1,250,000 shares of Series B Convertible Preferred Stock, $0.001 per share per share (the "**Series B Preferred Stock**"), with the rights, preferences, powers, restrictions, and limitations set forth in the certificate of designation of the Company in the form attached hereto as **<u>Exhibit A</u>** (the "**Certificate of Designation**"); and

**WHEREAS**, the Company wishes to sell to the Investors, and the Investors wish to purchase from the Company, the Shares, subject to the terms and conditions set forth herein.

**NOW, THEREFORE**, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Definitions.

The following terms have the meanings specified or referred to in this Section 1:

"**Action**" means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation, proceeding, litigation, citation, summons, subpoena, or investigation of any nature, civil, criminal, administrative, regulatory, or otherwise, whether at law or in equity.

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

"**Business Day**" means any day except Saturday, Sunday, or any other day on which commercial banks located in New York are authorized or required by Law to be closed for business.

"**Certificate of Designation**" has the meaning set forth in the recitals.

"**Closing**" has the meaning set forth in Section 3.1.

"**Closing Date**" has the meaning set forth in Section 3.1.

"**Common Stock**" has the meaning set forth in Section 4.3(a).

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

"**Confidential Information**" has the meaning set forth in Section 8.1.

"**Conversion Shares**" means the shares of Common Stock issuable upon the conversion of the Shares.

"**Dollars or $**" means the lawful currency of the United States.

"**Encumbrance**" means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction on use, voting, transfer, receipt of income, or exercise of any other attribute of ownership.

"**Governmental Authority**" means any federal, state, local, or foreign government, or political subdivision thereof, or any agency or instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental authority (to the extent that the rules, regulations, or orders of such organization or authority have the force of Law), or any arbitrator, court, or tribunal of competent jurisdiction.

"**Governmental Order**" means any order, writ, judgment, injunction, decree, stipulation, determination, or award entered by or with any Governmental Authority.

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

"**Knowledge of the Company or the Company's Knowledge**" or any other similar knowledge qualification, means the actual or constructive knowledge of any director or officer of the Company, after due inquiry.

"**Law**" means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, other requirement, or rule of law of any Governmental Authority.

"**Material Adverse Effect**" means any event, occurrence, fact, condition, or change that is, or could reasonably be expected to become, individually or in the aggregate, materially adverse to the business, results of operations, conditions (financial or otherwise), or assets of the Company.

"**Permits**" means all permits, licenses, franchises, approvals, authorizations, registrations, certificates, variances, and similar rights obtained, or required to be obtained, from Governmental Authorities.

"**Permitted Encumbrances**" has the meaning set forth in Section 3.09(a).

"**Person**" means an individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust, association, or other entity.

"**Public Offering**" has the means set forth in Section 7.1.

"**Preferred Stock**" has the meaning set forth in the recitals.

"**Purchase Price**" has the meaning set forth in Section 2.1.

"**Representative**" means, with respect to any Person, any and all directors, officers, employees, consultants, financial advisors, counsel, accountants, and other agents of such Person.

"**Securities**" means the Shares and the Conversion Shares.

"**Series B Preferred Stock**" has the meaning set forth in the recitals.

"**Shares**" has the meaning set forth in Section 2.1.

"**Transaction Documents**" means this Agreement, the Certificate of Designation and the other agreements and certificates to be delivered by the Parties pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Agreement To Sell And Purchase .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1 Purchase and Sale**. Subject to the terms and conditions hereof, at the Closing (as hereinafter defined), the Company hereby agrees to issue and sell to each Investor, and each Investor agrees to purchase from the Company, number of Shares set forth in the column designated "Total Investment – Number of Shares" opposite such Investor's name on the Schedule of Investors, which in the aggregate shall equal up to Thirty-Seven Thousand Five Hundred (37,500) (the "**Shares**") of Series B Preferred Stock at a cash purchase price equal to Four Dollars ($4.0) per Share ("**Purchase Price**") for an aggregate of up to One Hundred and Fifty Thousand Dollars ($150,000) ("**Purchase Price**").The Company's agreement with each Investor is a separate agreement, and the sale and issuance of the Shares to each Investor is a separate sale and issuance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2 Certificate of Designation**. The voting powers, designations, preferences, limitations, restrictions and relative rights of the Series B Preferred Stock are set forth in the Certificate of Designation attached hereto as **<u>Exhibit A</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3 Return of Funds**. If the Company has not completed an initial public offering of the Company's securities (the "**IPO**") on or before December 31, 2025, the Company may, in its sole discretion, return to each Investor the full amount of Purchase Price paid by such Investor under this Agreement, without interest or deduction, by no later than January 15, 2026. Upon payment of the Purchase Price, the Shares issued to such Investors shall be deemed automatically cancelled and the Investors shall have no further rights with respect to the Shares under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Closing, Delivery And Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1 Closing**. Subject to the terms and conditions of this Agreement, the purchase and sale of the Shares contemplated hereby shall take place at one or more closings (the "**Closing**") to be held at 10:00 a.m., Eastern Time, no later than two Business Days after the last of the conditions to Closing set forth in Section 6 have been satisfied or waived (other than conditions which, by their nature, are to be satisfied on the Closing Date), remotely by electronic mail and/or facsimile/at the offices of Sichenzia Ross Ference Carmel LLP in New York, New York, or at such other time or on such other date or at such other place or such other method as the Company and Investor may mutually agree upon orally or in writing (such date of closing is hereinafter referred to as the "**Closing Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Transactions Effected at the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At the Closing, Investor shall deliver to the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Purchase Price by wire transfer of immediately available funds to an account of the Company designated in writing by the Company to Investor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Transaction Documents and all other agreements, documents, instruments, or certificates required to be delivered by Investor at or prior to the Closing pursuant to Section 6.1 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the Closing, the Company shall deliver to the Investor:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A book entry statement the Shares (or a stock certificate upon the prior request of the Investor); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Transaction Documents and all other agreements, documents, instruments, or certificates required to be delivered by the Company at or prior to the Closing pursuant to Section 6.2 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3 Use of Proceeds.** The proceeds from the issuance of the Shares shall be used by the Company for working capital and general corporate purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Representations and Warranties of The Company.

The Company hereby represents and warrants to the Investor as of the date of this Agreement as set forth below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1 Organization, Good Standing and Qualification**. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada. The Company has all requisite corporate power and authority to own and operate its properties and assets, to execute and deliver the Transaction Documents, to issue and sell the Shares and the Conversion Shares, and to carry out the provisions of the Transaction Documents, and to carry on its business as presently conducted and as presently proposed to be conducted. The Company is duly qualified 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2 Indebtedness**. Company is not currently, directly or indirectly, liable for any indebtedness in excess of $500,000 or that is outside the ordinary course of Company's business. Company further represents and warrants that, so long as any such Series B Preferred Stock be outstanding, or until the completion of an IPO, Company shall not, directly or indirectly create, issue, incur, assume, become liable in respect of or suffer to exist any indebtedness, in excess of $500,000 that is outside the ordinary course of Company's business without the prior written consent of holders of not less than two-thirds of the then total outstanding Shares of Series B Preferred Stock (a "**Supermajority Interest**"), voting separately as a single class with one vote per Share, in person or by proxy, either in writing without a meeting or at an annual or a special meeting of such holders, and any other applicable stockholder approval requirements required by law; provided, however, that the foregoing statements shall not apply to (i) the issuance or existence of any indebtedness related to the Company's outstanding SAFEs, which the Company believes to be equity instruments but may be accounted for as debt instruments, (ii) any accounts payable or accrued expenses arising in the ordinary course of the Company's business, including, without limitation, attorneys' fees and other professional fees, or (iii) any other indebtedness for which the Company obtains the prior written consent of the required parties, which consent shall not be unreasonably withheld.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3 Reserved.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.4 Capitalization; Voting Rights.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The authorized capital stock of the Company as of immediately prior to the initial Closing consists of (A) 190,000,000 shares of common stock, par value $0.001 per share ("**Common Stock**"), of which 5,151,391 are issued and outstanding; (B) 10,000,000 shares of "blank check" preferred stock, par value $0.001 per share (the "**Preferred Stock**"), of which (i) 5,000 shares have been designated as Series X Preferred Stock, par value $0.001 per share (the "**Series X Preferred Stock**"), of which all shares are issued and outstanding and held by to YRQ Irrevocable Trust and (ii) 1,250,000 shares of Series B Preferred Stock, of which 200,000 shares are issued and outstanding, not including the Shares to be issued pursuant to this Agreement. Under the Company's 2025 Equity Incentive Plan, (i) 587,975 options to purchase shares of Common Stock have been granted, and (ii) 175,733 shares of Common Stock remain available for future issuance to officers, directors, employees and consultants of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All issued and outstanding shares of the Company's Common Stock and Preferred Stock (i) have been duly authorized and validly issued and are fully paid and nonassessable, and (ii) were issued in compliance with all applicable state and federal laws concerning the issuance of securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The rights, preferences, privileges and restrictions of the Shares are as stated in the Certificate of Designation. The Conversion Shares have been duly and validly reserved for issuance upon the conversion of the Shares pursuant to the terms and conditions of the Certificate of Designation. When issued in compliance with the provisions of this Agreement and the Certificate of Designation, the Shares and the Conversion Shares will be validly issued, fully paid and nonassessable, and will be free of any liens or encumbrances of the Company; *provided, however*, that the Shares and the Conversion Shares may be subject to restrictions on transfer under state and/or federal securities laws as set forth herein or as otherwise required by such laws at the time a transfer is proposed. The sale of the Shares and the subsequent conversion of the Shares into Conversion Shares are not and will not be subject to any preemptive rights or rights of first refusal that have not been properly waived or complied with.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.5 No Conflicts; Consents.** The execution, delivery, and performance by the Company of this Agreement and the other Transaction Documents to which it is a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a) conflict with or result in a violation or breach of, or default under, any provision of the certificate of incorporation, by-laws, or other organizational documents of the Company;

(b) conflict with or result in a violation or breach of any provision of any law or regulation applicable to the Company;

(c) require the consent or waiver of, notice to, or other action by any Person under, conflict with, result in a violation or breach of, constitute a default or an event that, with or without notice or lapse of time or both, would constitute a default under, result in the acceleration of, or create in any party the right to accelerate, terminate, modify, or cancel any contract to which the Company is a party or by which the Company is bound or to which any of its properties and assets are subject or any Permit affecting the properties, assets, or business of the Company; or (d) result in the creation or imposition of any Encumbrance other than Permitted Encumbrances on any properties or assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.6 Authorization; Binding Obligations**. All corporate action on the part of the Company, its officers, directors and stockholders necessary for the authorization of this Agreement, the performance of all obligations of the Company hereunder at the Closing and the authorization, sale, issuance and delivery of the Shares pursuant hereto and the Conversion Shares pursuant to the Certificate of Designation has been taken. This Agreement, when executed and delivered, will be a valid and binding obligation of the Company enforceable in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights, (b) general principles of equity that restrict the availability of equitable remedies, and (c) the discretion of courts of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 Intellectual Property.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company owns or possesses sufficient legal rights to all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information and other proprietary rights and processes necessary for its business as now conducted and as presently proposed to be conducted, without any known infringement of the rights of others.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company has not received any communications alleging that the Company has violated or, by conducting its business as presently conducted, would violate any of the patents, trademarks, service marks, trade names, copyrights or trade secrets or other proprietary rights of any other person or entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.8 Compliance with Other Instruments**. The Company is not in violation or default of any term of its charter documents, each as amended, or of any provision of any mortgage, indenture, contract, lease, agreement, instrument or contract to which it is party or by which it is bound or of any judgment, decree, order or writ other than any such violation that would not have a Material Adverse Effect on the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.9 Litigation**. There is no action, suit, proceeding or investigation pending or, to the Company's Knowledge, currently threatened against the Company that would reasonably be expected to result, either individually or in the aggregate, in any material adverse change in the assets, condition, or affairs of the Company, financially or otherwise, or any change in the current equity ownership of the Company or that questions the validity of this Agreement or the right of the Company to enter into any of such agreements, or to consummate the transactions contemplated hereby, nor is the Company aware that there is any basis for any of the foregoing. The Company is not a party or to its knowledge subject to the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no action, suit, proceeding or investigation by the Company currently pending or which the Company intends to initiate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.10 Employees**. The Company has no collective bargaining agreements with any of its employees. There is no labor union organizing activity pending or, to the Company's Knowledge, threatened with respect to the Company. To the Company's Knowledge, no employee of the Company, nor any consultant with whom the Company has contracted, is in violation of any term of any employment contract, proprietary information agreement or any other agreement relating to the right of any such individual to be employed by, or to contract with, the Company; and to the Company's Knowledge the continued employment by the Company of its present employees, and the performance of the Company's contracts with its independent contractors, will not result in any such violation. The Company has not received any notice alleging that any such violation has occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.11 Compliance with Laws; Permits**. To the Company's Knowledge, the Company is not in violation of any applicable statute, rule, regulation, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties, which violation would materially and adversely affect the business, assets, liabilities, financial condition, operations or prospects of the Company. No Governmental Orders, permissions, consents, approvals or authorizations are required to be obtained and no registrations or declarations are required to be filed in connection with the execution and delivery of this Agreement or the issuance of the Shares or the Conversion Shares, except such as have been duly and validly obtained or filed, or with respect to any filings that must be made after the Closing, as will be filed in a timely manner. The Company has all franchises, permits, licenses and any similar authority necessary for the conduct of its business as now being conducted by it, the lack of which could materially and adversely affect the business, assets, properties or financial condition of the Company and believes it can obtain, without undue burden or expense, any similar authority for the conduct of its business as planned to be conducted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.12 Environmental and Safety Laws**. To its Knowledge, the Company is not in violation of any applicable statute, law or regulation relating to the environment or occupational health and safety, and to its knowledge, no material expenditures are or will be required in order to comply with any such existing statute, law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.13 Offering Valid**. Assuming the accuracy of the representations and warranties of the Investor contained herein hereof, the offer, sale and issuance of the Shares and the Conversion Shares will be exempt from the registration requirements of the Securities Act of 1933, as amended (the "**Securities Act**") and the applicable state blue sky securities regulations. Neither the Company nor any agent on its behalf has solicited or will solicit any offers to sell or has offered to sell or will offer to sell all or any part of the Shares to any person or persons so as to bring the sale of such Shares by the Company within the registration provisions of the Securities Act or any state securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.14 Full Disclosure**. The Company has provided the Investor with all information reasonably requested by the Investor in connection with their decision to purchase the Shares. Neither this Agreement, nor the exhibits hereto contain any untrue statement of a material fact nor, to the Company's Knowledge, omit to state a material fact necessary in order to make the statements contained herein or therein not misleading.

5. Representations and Warranties of Investor.

Each Investor hereby represents and warrants to the Company as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1 Requisite Power and Authority**. The Investor has all necessary corporate power and authority to execute and deliver this Agreement and to carry out the transactions contemplated hereby. All action on the Investor's part required for the lawful execution and delivery of the Transaction Documents has been taken. Upon the Investor's execution and delivery of the Agreement, this agreement will be a valid and binding obligation of the Investor, enforceable in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights, (b) as limited by general principles of equity that restrict the availability of equitable remedies, and (c) the discretion of courts of equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2 Investor Bears Economic Risk.** The Investor has substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company so that it is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. The Investor can bear the economic risk of this investment indefinitely. The Investor understands that the Company is not obligated to register Shares. Other than pursuant to Section 7 hereto, the Company does not have any obligation to register the Conversion Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3 Investment Purpose.** The Investor is acquiring the Shares solely for its own account for investment purposes and not with a view to, or for offer or sale in connection with, any distribution thereof. The Investor acknowledges that the Shares and Conversion Shares are not registered under the Securities Act or any state securities laws, and that the Shares or the Conversion Shares may not be transferred or sold except pursuant to the registration provisions of the Securities Act or pursuant to an applicable exemption therefrom and subject to state securities laws and regulations, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4 Investor Status**. At the time the Investor was offered the Shares, it was, and as of the date hereof it is, and on each date on which it converts the Shares, will be an "accredited investor" as defined in Rule 501 under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5 Experience of Investor**. The Investor, either alone or together with its Representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. The Investor is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6 General Solicitation**. The Investor is not, to such Investor's knowledge, purchasing the Shares because of any advertisement, article, notice or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or, to the knowledge of the Investor, any other general solicitation or general advertisement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7 Access to Information.** The Such Investor acknowledges that it has had the opportunity to review the Transaction Documents (including all exhibits and schedules thereto) and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, Representatives of the Company concerning the terms and conditions of the offering of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the Company and its financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8 Rule 144.** Investor acknowledges and agrees that the Shares, and, if issued, the Conversion Shares are "restricted securities" as defined in Rule 144 promulgated under the Securities Act as in effect from time to time and must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Investor has been advised or is aware of the provisions of Rule 144, which permits limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9 Residence.** The current executive offices of the Investor are located at the address or addresses of Investor set forth on the signature page hereto.

6. Conditions To Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 Conditions to Obligations of the Investor.** The obligations of an Investor to consummate the transactions contemplated by this Agreement shall be subject to the satisfaction, at or before the applicable Closing Date, of each of the following conditions, provided that these conditions are for the Investor's sole benefit and may be waived by the Investor at any time in its sole discretion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The representations and warranties made by the Company in Section 4 hereof shall be true and correct in all material respects as of the Closing Date with the same force and effect as if they had been made as of the Closing Date, and the Company shall have performed all obligations and conditions herein required to be performed or observed by it on or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All approvals, consents, filings, and waivers, if any, shall have been received, and executed counterparts thereof shall have been delivered to Investor at or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Agreement and each of the other Transaction Documents shall have been executed and delivered by the parties thereto and true and complete copies thereof shall have been delivered to Investor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Investor shall have received a certificate of the Secretary or an Assistant Secretary (or equivalent officer) of the Company certifying:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) that attached thereto are true and complete copies of all resolutions and other consents adopted by the board of directors and stockholders of the Company authorizing and approving the execution, delivery, filing, and performance of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated hereby and thereby, and that all such resolutions and consents are in full force and effect as of the Closing and are all the resolutions and consents adopted in connection with the transactions contemplated hereby and thereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) that attached thereto are true and complete copies of the certificate of incorporation and by-laws of the Company and that such organizational documents are in full force and effect as of the Closing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the names and signatures of the officers of the Company authorized to sign this Agreement, the Transaction Documents, and the other documents to be delivered hereunder and thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Company shall have duly adopted the Certificate of Designation, which shall have been filed with the Secretary of State of Nevada and become effective under Chapter 78 of Nevada Revised Statutes on or prior to the Closing and which shall remain in full force and effect as of the Closing, and Investor shall have received a certificate of the Secretary of State of Nevada certifying that the Certificate of Designation has been filed and is effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Company shall have delivered to Investor a good standing certificate (or its equivalent) for the Company from the secretary of state of the State of Nevada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 Conditions to Obligations of the Company.** The obligations of the Company to consummate the transactions contemplated by this Agreement shall be subject to the fulfillment or the Company's waiver, at or prior to the applicable Closing Date, of each of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The representations and warranties in Section 5 made by the Investor shall be true and correct in all material respects at the date of the Closing, with the same force and effect as if they had been made on and as of said date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All approvals, consents, and waivers, if any, shall have been received, and executed counterparts thereof shall have been delivered to the Company at or prior to the Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Agreement and each of the other Transaction Documents shall have been executed and delivered by the parties thereto and true and complete copies thereof shall have been delivered to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company shall, prior to Closing, have provided to the Investor complete audited financial statements as of the end of 2024; a current and valid Nevada Certificate of Good Standing; Articles of Incorporation and Bylaws; and current Organizational Chart.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Investor shall have delivered to the Company cash in an amount equal to the Purchase Price by wire transfer in immediately available funds, to an account or accounts designated in writing by the Company to Investor.

7. RESERVED.

8. Confidentiality .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1** <u>Confidential Information</u>. "**Confidential Information**" means all non-public or proprietary information treated as confidential by the Company, whether disclosed orally or disclosed or accessed in written, electronic, or other form or media, and whether or not marked, designated, or otherwise identified as "confidential," including but not limited to all: (a) information concerning the Company's past, present, and future business affairs including finances and forecasts, and sales; and (b) all notes, analyses, compilations, reports, forecasts, studies, samples, data, statistics, summaries, interpretations and other materials ("**Notes**") prepared by Company or its Representatives that contain, reflect, or are derived from, in whole or in part, any of the foregoing. Except as required by applicable federal, state, or local law or regulation, Confidential Information shall not include information that, at the time of disclosure: (i) is, or thereafter becomes, generally available to and known by the public other than as a result of, directly or indirectly, any breach of this Section 8 by the Investor or any of its Representatives; (ii) is, or thereafter becomes, available to the Investor on a non-confidential basis from a third-party source, provided that such third party was not prohibited from disclosing such Confidential Information; (iii) was known by or in the possession of the Investor or its Representatives before being disclosed by or on behalf of the Company; or (iv) was or is independently developed by the Investor without reference to or use, in whole or in part, of any of the Company's Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2** <u>Receiving Party Obligations</u>. The Investor acknowledges that it may gain access to or become familiar with the Company's Confidential Information. Except as set out in this Section 8, the Investor, as the receiving Party of the Company's Confidential Information, shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) protect and safeguard the confidentiality of the Confidential Information with at least the same degree of care as the Investor would protect its own Confidential Information, but in no event with less than a commercially reasonable degree of care;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) not use the Confidential Information, or permit it to be accessed or used, for any purpose other than to make an investment decision under this Agreement and perform its obligations under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) not disclose any such Confidential Information to any person or entity, except to the Investors Representatives who (i) need to know the Confidential Information to assist the Investor in making an investment decision under this Agreement, or act on its behalf, to exercise its rights or perform its obligations under this Agreement; (ii) are informed by the Investor of the confidential nature of the Confidential Information; and (iii) are subject to confidentiality duties or obligations to the Investor that are no less restrictive than the terms and conditions of this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) be responsible for any breach of this Section 8 caused by any of its Representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.3** <u>Required Disclosure</u>. The Investor may disclose the Confidential Information under applicable federal, state, or local law, regulation or a valid order issued by a court or governmental agency of competent jurisdiction (a "**Legal Order**"), provided that the Investor shall first provide the Company with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) prompt written notice of such requirement so that the Company may seek, at its sole cost and expense, a protective order or other remedy; 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;(b) reasonable assistance, at the Company's sole cost and expense, in opposing such disclosure or seeking a protective order or other limitations on disclosure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4** <u>Return or Destruction of Confidential Information</u>. At any time during or after the term of this Agreement, at the Company's request, the Investor shall promptly return and shall require its Representatives to return to the Company all copies, whether in written, electronic, or other form or media, of the Confidential Information, or destroy all such copies and certify in writing to the Company that such Confidential Information has been destroyed. Notwithstanding the foregoing, the Investor may retain any copies of Confidential Information, regardless of whether such copies are in original form:

&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) included in any materials that document a decision to terminate this Agreement with the Company, or otherwise to cease communications with the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) as may be required to comply with the Investor's internal record-keeping policies or any applicable federal, state or local law, regulation, or regulatory authority to which it is subject; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) that are maintained as archive copies on the Investors' disaster recovery and/or information technology backup systems. Such copies will be destroyed on the normal expiration of the Investor's backup files.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Investor shall continue to be bound by the terms and conditions of Section 8 regarding any such Confidential Information retained in accordance with this Section 8.4.

9. Miscellaneous.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.1 Survival**. The representations, warranties, covenants and agreements made herein shall survive the closing of the transactions contemplated hereby. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant hereto in connection with the transactions contemplated hereby shall be deemed to be representations and warranties by the Company hereunder solely as of the date of such certificate or instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2 Entire Agreement**. This Agreement and the other Transaction Documents constitute the sole and entire agreement of the Parties to this Agreement with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject matter, including any non-binding term sheet or letter of intent. In the event of any inconsistency between the statements in the body of this Agreement and those in the other Transaction Documents, the Exhibits, and Disclosure Schedules (other than an exception expressly set forth as such in the Disclosure Schedules), the statements in the body of this Agreement will control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.3 Successors and Assigns**. This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors and permitted assigns. Neither Party may assign its rights or obligations hereunder without the prior written consent of the other party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning Party of any of its obligations hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.4 No Third-Party Beneficiaries.** Except as explicitly provided herein, this Agreement is for the sole benefit of the Parties and their respective successors and permitted assigns and nothing herein, expressed or implied, is intended to or shall confer upon any other Person or entity any legal or equitable right, benefit, or remedy of any nature whatsoever under or by reason of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.5 Amendment and Modification; Waiver.** This Agreement may only be amended, modified, or supplemented by an agreement in writing signed by each Party hereto. No waiver by any Party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any Party shall operate or be construed as a waiver in respect of any failure, breach, or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power, or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of Nevada or any other jurisdiction).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) ANY LEGAL SUIT, ACTION, OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY MAY BE INSTITUTED IN THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA OR THE COURTS OF THE STATE OF NEW YORK IN EACH CASE LOCATED IN THE CITY OF NEW YORK AND COUNTY OF NEW YORK AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION, OR PROCEEDING. SERVICE OF PROCESS, SUMMONS, NOTICE, OR OTHER DOCUMENT BY MAIL TO SUCH PARTY'S ADDRESS SET FORTH HEREIN SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY SUIT, ACTION, OR OTHER PROCEEDING BROUGHT IN ANY SUCH COURT. THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUIT, ACTION, OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION, OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.7 Specific Performance.** The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy to which they are entitled at law or in equity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.8 Counterparts.** This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement 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 Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.9 Delays or Omissions**. It is agreed that no delay or omission to exercise any right, power or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement or the Certificate of Designation, shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of or in any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character on any party's part of any breach, default or noncompliance under this Agreement, or under the Certificate of Designation or any waiver on such party's part of any provisions or conditions of this Agreement or the Certificate of Designation must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement and the Certificate of Designation, by law, or otherwise afforded to any party, shall be cumulative and not alternative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.10 Notices**. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail, telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at the address as set forth on the signature page hereof and to Investor at the address set forth on the signature page hereof or at such other address or electronic mail address as the Company or Investor may designate by 10 days' advance written notice to the other parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.11 Expenses**. Each party shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.12 Costs and Attorneys' Fees**. In the event that any action, suit or other proceeding is instituted based upon or arising out of this Agreement or the matters contemplated herein or any other matter relating to the equity interests of the investors in the Company (whether based on breach of contract, tort, breach of duty or any other theory), the prevailing party shall recover all of such party's costs (including, but not limited to expert witness costs) and reasonable attorneys' fees incurred in each such action, suit or other proceeding, including any and all appeals or petitions therefrom.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.13 Titles and Subtitles**. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.14 Broker's Fees**. Other than R.F. Lafferty & Co., Inc., each Party hereto represents and warrants that no agent, broker, investment banker, person or firm acting on behalf of or under the authority of such Party hereto is or will be entitled to any broker's or finder's fee or any other commission directly or indirectly in connection with the transactions contemplated herein. Each Party further agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of the representation in this Section 9.14 being untrue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.15 Pronouns**. All pronouns contained herein, and any variations thereof, shall be deemed to refer to the masculine, feminine or neutral, singular or plural, as to the identity of the Parties hereto may require.

[SIGNATURE PAGE FOLLOWS]

**IN WITNESS WHEREOF,** the Parties hereto have each executed this Securities Purchase Agreement as of the date set forth above.

---

| | |
|:---|:---|
| "**COMPANY**" | "**COMPANY**" |
| **COLLAB Z INC.** | **COLLAB Z INC.** |
| By: |  |
| Name: | Qiaojun Lai |
| Title: | Chief Executive Officer |
| **INVESTORS:** | **INVESTORS:** |
| See Signature pages for each Investor attached. | See Signature pages for each Investor attached. |

---

---

| | |
|:---|:---|
| *<u>Notices to Company to be sent to:</u>* | *<u>Notices to Company to be sent to:</u>* |
| | |
| COLLAB Z INC. | COLLAB Z INC. |
| 29 Orinda Way, Unit 2060 | 29 Orinda Way, Unit 2060 |
| Orinda, California 94563 | Orinda, California 94563 |
| Attn: Qiaojun Lai, CEO | Attn: Qiaojun Lai, CEO |
| Email: aileen.lai@collabhome.io | Email: aileen.lai@collabhome.io |
| *<u>With a copy to (which shall not constitute notice):</u>* | *<u>With a copy to (which shall not constitute notice):</u>* |
| | |
| Sichenzia Ross Ference Carmel LLP | Sichenzia Ross Ference Carmel LLP |
| 1185 6th Ave 31st FL | 1185 6th Ave 31st FL |
| New York, NY 10036 | New York, NY 10036 |
| Attention: | Ross David Carmel, Esq. |
|  | Matthew Siracusa, Esq. |
| Email: | rcarmel@srfc.law |
|  | msiracusa@srfc.law |
| *<u>Notices to Investor to be sent to:</u>* | *<u>Notices to Investor to be sent to:</u>* |
| | |
| To each Investor based on the information set forth in the Schedule of Investor attached hereto. | To each Investor based on the information set forth in the Schedule of Investor attached hereto. |

---

Buyer Signature Page to Securities Purchase Agreement

**INVESTOR SIGNATURE PAGE FOR SECURITIES PURCHASE AGREEMENT<br> WITH COLLAB Z INC.**

By its execution below, the undersigned Investor hereby acknowledges and agrees to the terms set forth in the Securities Purchase Agreement to which this signature page is attached.

---

| | |
|:---|:---|
| <u>FOR ENTITY INVESTORS</u>: | <u>FOR INDIVIDUAL INVESTORS</u>: |
|  | Signature: |
|  | Name: |
| Name of Entity |  |
| By: | Signature: |
| Name: | Name: |
| Title: |  |

---

---

| | |
|:---|:---|
| WORK ADDRESS: | HOME ADDRESS: |
| Attention: | Phone: |
| Phone: | SSN: |
| Fax: | |
| E-mail: | |
| Taxpayer ID#:_____________________________________________ | |

---

Select and complete one of the following:

<u>Initial Closing</u>:

☐ Number of Shares to be Purchased: ___________________;

**OR**

☐ Aggregate Purchase Price for shares of Stock to be Purchased: <u>$_______________________________</u>

<u>Subsequent Closing</u>:

☐ Number of Shares to be Purchased:__________________________________;

**OR**

☐ Aggregate Purchase Price for shares of Stock to be Purchased: <u>$___________________________</u>

**<u>SCHEDULE OF INVESTORS</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; <br> **Investor** | &nbsp;&nbsp;**Purchase<br> Price ($)** | &nbsp;&nbsp;**Number<br> of Shares** | &nbsp;&nbsp;**Closing** |
| &nbsp;&nbsp;[______] | &nbsp;&nbsp;[______] | &nbsp;&nbsp;[______] | &nbsp;&nbsp;[Initial Closing/Subsequent Closing] |
| &nbsp;&nbsp; **TOTAL** |  |  |  |

---

**<u>Exhibit A</u>**

**<u>CERTIFICATE OF DESIGNATION</u>**

## Exhibit 14.1

**Exhibit 14.1**

**CODE OF CONDUCT AND ETHICS**

**FOR THE DIRECTORS, OFFICERS AND EMPLOYEES OF <br> COLLAB Z INC.**

**<u>Purpose</u>**

The Board of Directors (the "**Board**") of Collab Z Inc., a Nevada corporation (the "**Company**"), has approved the following Code of Conduct and Ethics (the "**Code**") to apply to all the directors, officers and employees of the Company (the "**Officeholders**"). The Code is intended to promote ethical conduct and compliance with laws and regulations, to provide guidance with respect to the handling of ethical issues, to implement mechanisms to report unethical conduct, to foster a culture of honesty and accountability, to deter wrongdoing and to ensure fair and accurate financial reporting.

The Board of Directors has delegated day-to-day responsibility for administering and interpreting this code to a compliance officer. The company will either employ an executive as Compliance Officer or will name one of its officers, to be determined by the Board of Directors. The Chief Financial Officer has been appointed as the Compliance Officer under this Code.

No code or policy can anticipate every situation that may arise. Accordingly, this Code is intended to serve as a source of guiding principles. Officeholders are encouraged to bring questions about particular circumstances that may involve one or more of the provisions of this Code to the attention of the Company's Chief Executive Officer, who may consult with the Company's outside legal counsel as appropriate.

**<u>Introduction</u>**

The Officeholders are expected to adhere to a high standard of ethical conduct. The reputation and good standing of the Company depend on how the Company's business is conducted and how the public perceives that conduct. Unethical actions, or the appearance of unethical actions, are not acceptable. In addition to each of the directives set forth below, the Officeholders shall be guided by the following principles in carrying out their duties and responsibilities on behalf of the Company:

<u>Loyalty, Honesty and Integrity</u>. Officeholders must not be, or appear to be, subject to influences, interests or relationships that conflict with the best interests of the Company.

<u>Observance of Ethical Standards</u>. When carrying out their duties and responsibilities on behalf of the Company, Officeholders must adhere to the high ethical standards described in this Code.

<u>Accountability</u>. Officeholders are responsible for their own adherence and the adherence of the other directors, officers and employees to whom this Code applies. Officeholders are encouraged to familiarize themselves with each provision of this Code and those set forth in the Company's policies which will be, or have been, published to the Officeholders from time to time.

**STANDARDS OF CONDUCT**

**Integrity of Records and Financial Reporting**

The Chief Executive Officer and the Chief Financial Officer and, if applicable, Principal Accounting Officer, and Controller of the Company (the Chief Financial Officer and Principal Accounting Officer and Controller are hereinafter referred to as the "**Senior Financial Officers**") are responsible for the accurate and reliable preparation and maintenance of the Company's financial records. Accurate and reliable preparation of financial records is of critical importance to proper management decisions and the fulfillment of the Company's financial, legal and reporting obligations. As a public company, the Company files annual and periodic reports and makes other filings with the Securities and Exchange Commission (the "**SEC**"). It is critical that these reports be timely and accurate. The Company expects those officers who have a role in the preparation and/or review of information included in the Company's SEC filings to record, process, summarize and report such information accurately and honestly. Reports and documents the Company files with or submits to the SEC, as well as other public communications made by the Company, should contain full, fair, accurate, timely and understandable disclosure.

No Officeholder may cause the Company to enter into a transaction with the intent to document it or record it in a deceptive or unlawful manner. No Officeholder may create any false or artificial documentation for any transaction entered into by the Company. Unrecorded or "off the books" funds or assets should not be maintained unless permitted by applicable law or regulation and brought to the attention of the Company's Chief Financial Officer.

Any Officeholder who learns of any material information affecting or potentially affecting the accuracy or adequacy of the disclosures made by the Company in its SEC filings, submissions or other public statements should report the same to the Chief Executive Officer or Senior Financial Officers or through the procedures established from time to time by the Audit Committee (if applicable) for the receipt, retention, and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters, as set forth below.

The Chief Executive Officer and Senior Financial Officers are responsible for establishing, and together with the members of the Board or the members of the Audit Committee (if applicable), as the case may be, overseeing adequate disclosure controls and procedures and internal controls over financial reporting, including procedures which are designed to enable the Company to: (a) accurately document and account for transactions on the books and records of the Company and its subsidiaries; and (b) maintain reports, vouchers, bills, invoices, payroll and service records, performance records and other essential data with care and honesty.

**Improper Influence of Auditors**

 ****

No Officeholder may take any action to fraudulently influence, coerce, manipulate or mislead the Company's auditor of the Company's financial statements for the purpose of rendering those financial statements materially misleading.

**Conflicts of Interest**

 ****

Officeholders must not participate in any activity that could conflict with their duties and responsibilities to the Company. A "conflict of interest" arises when one's personal interests or activities appear to or may influence that person's ability to act in the best interests of the Company. Any material transaction or relationship that reasonably could be expected to give rise to a conflict of interest should be disclosed to the Company's in-house counsel. Before engaging in any material transaction or relationship that reasonably could give rise to a conflict of interest, each Officeholder must provide full and fair disclosure of all relevant facts and circumstances to, and receive the approval of, in the case of a director or officer, the Audit Committee or another independent body of the Board of Directors, or in the case of any other Officeholder, the Compliance Officer. In addition, because conflicts of interest are not always obvious, Officeholders are encouraged to bring questions about particular situations to the attention of the Compliance Officer or Company's Chief Executive Officer.

This Code does not describe all possible conflicts of interest that could develop.

Some of the more common conflicts from which Officeholders must refrain are set forth below:

<u>Family members</u>. Officeholders may encounter a conflict of interest when doing business with or competing with organizations in which they have an ownership interest or their family member has an ownership or employment interest. "Family members" include a spouse, parents, children, siblings and in-laws. Officeholders must not conduct business on behalf of the Company with family members or an organization with which their family member is associated, unless such business relationship has been disclosed and authorized by the chairperson of the Audit Committee.

<u>Improper conduct and activities</u>. Officeholders may not engage in any conduct or activities that are inconsistent with the Company's best interests or that disrupt or impair the Company's relationship with any person or entity with which the Company has or proposes to enter into a business or contractual relationship.

<u>Compensation from non-Company sources</u>. Officeholders may not accept compensation in any form for services performed for the Company from any source other than the Company or its consolidated subsidiaries.

<u>Gifts</u>. Officeholders and members of their immediate family may not ask for or accept gifts, favors, kickbacks or other improper payment or consideration from a customer, government official or any other person or entity if such gifts are being made in order to influence them in their capacity as a directors, officers or employees of the Company, in consideration for assistance or influence concerning any transaction affecting the Company, or if acceptance of such gifts could create the appearance of a conflict of interest. No Officeholder may offer or give (directly or indirectly) any improper gift, favor, kickback or other improper payment or consideration to any customer, supplier, government official, including, without limitation, any foreign government official, or any other person for assistance or influence concerning any transaction affecting the Company. Any Officeholder aware of a person offering, giving, asking for or accepting an offer of a gift, gratuity or other personal consideration to influence a business transaction affecting the Company should report the same to the Chief Executive Officer, Compliance Officer or through the procedures established from time to time by the Audit Committee (if applicable) for the receipt, retention, and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters, as set forth below.

These provisions are not intended to apply to routine, reasonable business entertainment or gifts of minor value customary in local business relationships, provided that no laws or Company policies are violated.

<u>Personal use of Company assets</u>. Officeholders may not use Company assets, labor or information for personal use, other than incidental personal use, unless the Chief Executive Officer approves or as part of a compensation or expense reimbursement program.

**The Company has the right and obligation to determine whether conflicts of interest exist and to take appropriate action to address them.**

**Corporate Opportunities**

 ****

Officeholders are prohibited from: (a) taking opportunities related to the Company's business for their own personal benefit; (b) using the Company's property, information, or position for personal gain; or (c) competing with the Company for business opportunities; *provided*, *however*, if the Company's disinterested directors determine the Company will not pursue such opportunity, after disclosure of all material facts by the individual seeking to pursue the opportunity, the individual may do so.

**Confidentiality**

 ****

Officeholders must maintain the confidentiality of information entrusted to them by the Company and any other confidential information about the Company, its business, customers or suppliers, from whatever source, except when disclosure is authorized or legally mandated. For purposes of this Code, "confidential information" includes all non- public information relating to the Company, its business, customers or suppliers. Officeholders may only use confidential information for legitimate Company purposes.

Officeholders must return all of the Company's confidential and/or proprietary information in their possession to the Company when they cease to be employed by or otherwise serve the Company.

**Compliance with Laws, Rules and Regulations**

It is the policy of the Company to comply with all applicable laws, rules and regulations, and the Company expects the Officeholders to carry out their responsibilities on behalf of the Company in accordance with such laws, rules and regulations and to refrain from illegal conduct. No Officeholder should engage in any unlawful activity in conducting the Company's business or in performing his or her day-to-day duties, nor should any Officeholder instruct others to do so. Transactions in Company securities are governed by the Company's Insider Trading Policy.

**Protection and Proper Use of the Company's Assets**

 ****

Loss, theft and misuse of the Company's assets have a direct impact on the Company's business and its profitability. Officeholders are expected to protect the Company's assets that are entrusted to them and to protect the Company's assets in general. Officeholders are also expected to take steps to ensure that the Company's assets are used only for legitimate business purposes.

**Encouraging the Reporting of any Illegal or Unethical Behavior**

 ****

The Company is committed to operating according to the highest standards of business conduct and ethics and to maintaining a culture of ethical compliance. The Company's directors and officers should promote an environment in which the Company: (a) encourages employees to talk to supervisors, managers and other appropriate personnel when in doubt about the best course of action in a particular situation; (b) encourages employees to report violations of laws, rules and regulations to appropriate personnel; and (c) informs employees that the Company will not allow retaliation for reports made in good faith.

Without prejudice to the generality of the above, procedures for the Officeholders of the Company and its subsidiaries to submit (whether openly, confidentially, or anonymously) their concerns about questionable accounting or auditing matters and violations of legal or regulatory requirements, and for the Audit Committee to receive and respond to such concerns, are governed, if applicable, by the Company's policies then in effect concerning whistleblowers and prohibitions against retaliation.

**Fair Dealing**

 ****

The Officeholders should deal fairly with the Company's customers, suppliers and competitors. It is the policy of the Company to prohibit any person from taking unfair advantage of another through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair dealing practice.

**COMPLIANCE PROCEDURES**

**Communications of this Code**

 ****

All Officeholders will be provided with a copy of this Code upon beginning service with the Company. Updates to this Code will be provided from time to time. The standards in this Code may be further explained or implemented through policy memoranda, including those relating to specific areas of the Company's business. An Officeholder may obtain a copy of this Code or any such memoranda upon request to the Chief Executive Officer or Compliance Officer.

**Monitoring Compliance and Disciplinary Action**

The Company's management, under the supervision of its Board of Directors or a committee thereof or, in the case of accounting, internal accounting controls or auditing matters, the Audit Committee (if applicable), will take reasonable steps from time to time to (i) monitor compliance with this Code, including the establishment of monitoring systems that are reasonably designed to investigate and detect conduct in violation of this Code and (ii) when appropriate, impose and enforce appropriate disciplinary measures for violations of this Code.

The Company's management will periodically report to the Board of Directors or a committee thereof on these compliance efforts including, without limitation, periodic reporting of alleged violations of this Code and the actions taken with respect to any such violation.

**Reporting Concerns/ Receiving Advice/ No Retaliation**

 ****

*Be Proactive*. Every Officeholder is expected to act proactively by asking questions, seeking guidance and reporting violations of this Code and other policies and procedures of the Company, as well as any violation of applicable law, rule or regulation arising in the conduct of the Company's business or occurring on the Company's property. **If any Officeholder believes that actions have taken place, may be taking place, or may be about to take place that violate or would violate this Code, he or she is expected to bring the matter to the attention of a supervisor, the Compliance Officer or report the matter through the procedures established from time to time by the Audit Committee (if applicable) for the receipt, retention, and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters, as set forth below.**

*Seeking Guidance*. The best starting point for an Officeholder seeking advice on ethics-related issues or reporting potential violations of this Code will usually be his or her immediate supervisor. However, if the conduct in question involves the Officeholder's immediate supervisor, if the Officeholder does not have an immediate supervisor, if the Officeholder has reported the conduct in question to his or her immediate supervisor and does not believe that he or she has dealt with it properly, or if the Officeholder does not feel that he or she can discuss the matter with his or her immediate supervisor, the Officeholder may raise the matter with the Compliance Officer.

 

*Communication Alternatives*. Any Officeholder may communicate with the Compliance Officer by any of the following methods:

In writing (which may be done anonymously as set forth below under "Anonymity") addressed to the Compliance Officer, by U.S. mail to 29 Orinda Way, Unit 2060, Orinda, California 94563, Attention: Chief Financial Officer; or

● By e-mail to: Jin Kuang (anonymity cannot be maintained).

*Reporting Accounting and Other Concerns*. Any Officeholder who learns of any violation or potential violation concerning accounting, internal accounting controls or auditing matters should promptly bring the matter to the Audit Committee (if applicable, or the Chief Executive Officer, if not applicable). Accounting, internal accounting control and auditing matters include but are not limited to information concerning (i) significant deficiencies or material weaknesses in the design or operation of internal controls which could adversely affect the Company's ability to record, process, summarize and report financial data accurately, (ii) any fraud, whether or not material, involving management or other employees who have a significant role in the Company's financial reporting, disclosures or internal controls, (iii) improper influence of an auditor of the Company's financial statements or (iv) the accuracy or adequacy of the disclosures made by the Company in its SEC filings or submissions or other public disclosures.

 

*Reporting Any Illegal or Unethical Behavior.* Employees encouraged to talk to supervisors, managers, officers or other appropriate personnel about observed illegal or unethical behavior and, when in doubt, about the best course of action in a particular situation. Employees, officers, and directors who are concerned that violations of this Code or that other illegal or unethical conduct by employees, officers or directors of the Company have occurred or may occur should either contact their supervisor or superiors. If they do not believe it appropriate or are not comfortable approaching their supervisors or superiors about their concerns or complaints, then they may contact the company's legal counsel. Legal counsel for the Company is not an employee of the Company, and owes a fiduciary duty to the Company as its client, and not any one of its officers, directors or employees. If any employee, officer or director's concerns or complaints require confidentiality, including keeping his or her identity anonymous, then this confidentiality will be protected, subject to applicable law, regulation, or legal proceedings.

*Anonymity*. When reporting suspected violations of this Code, the Company prefers that Officeholders identify themselves in order to facilitate the Company's ability to take appropriate steps to address the report, including conducting any appropriate investigation. However, the Company also recognizes that some people may feel more comfortable reporting a suspected violation anonymously. If an Officeholder wishes to remain anonymous, he or she may do so, and the Company will use reasonable efforts to protect the confidentiality of the reporting person subject to applicable law, rule or regulation or to any applicable legal proceedings. In the event the report is made anonymously, however, the Company may not have sufficient information to look into or otherwise investigate or evaluate the allegations. Accordingly, Officeholders who make reports anonymously should provide as much detail as is reasonably necessary to permit the Company to evaluate the matter(s) set forth in the anonymous report and, if appropriate, commence and conduct an appropriate investigation.

 

*Protection for Reporting Violations*. It is prohibited, and is a violation of this Code, for the Company or any person to retaliate in any way against any Officeholder who, acting in good faith, reports information concerning suspected misconduct.

*Misuse of Reporting Channels*. Officeholders may not use these reporting channels in bad faith or in a false or frivolous manner.

**Enforcement**

 ****

*Investigating Reports of Violations*. The Company is committed to full, prompt and fair enforcement of the provisions of this Code. Upon receipt of any concern, other than an accounting, internal accounting control or auditing concern, the Compliance Officer will promptly initiate an investigation to gather the relevant facts. Upon receipt of any accounting, internal accounting control and auditing concern, the Audit Committee will promptly initiate an investigation to gather the relevant facts. In conducting and monitoring investigations, the Compliance Officer or Audit Committee, as applicable, may consult and coordinate as appropriate with other Officeholders, including but not limited to members of the Company's senior management team, Internal Audit Department, Finance Department or Human Resources Department, and will seek to ensure that the provisions of this Code are applied and enforced consistently across the Company. All lawful and appropriate investigative means and methods may be utilized in the conduct of the investigation. All Officeholders should cooperate in the investigation when called upon to do so. A failure to cooperate may itself constitute a violation of the Code.

 

*Sanctions for Violations*. Appropriate disciplinary action will be determined upon completion of the investigation, if the Compliance Officer or Audit Committee, as applicable, concludes that a violation of the Code has been committed and disciplinary action is warranted. Any violation of this Code may result in serious sanctions by the Company, which may include but is not limited to, dismissal, suspension without pay, loss of pay or bonus, loss of benefits or demotion.

Any disciplinary action to be taken against an employee will be subject to the approval of senior management and will be carried out by the Human Resources Department.

**Waivers of the Code**

It is the Company's policy that waivers of this Code will not be granted except in exigent circumstances. Any waivers of this Code may only be granted by a majority of the Board after disclosure of all material facts by the individual seeking the waiver. Any waiver of this Code will be promptly disclosed as required by law or the applicable rules of the stock exchange or quotation system on which the Corporation's shares may be listed from time to time.

**Certification**

Each Officeholder is required to execute a Certificate of Compliance with respect to this Code on an annual basis, or at such other frequency as determined by Company management. Upon completion, the signed Certificate of Compliance will be retained in the employee's employment file.

**Conclusion**

Officeholders should communicate any suspected violations of this Code, or any unethical behavior encompassed by this Code, promptly to the Chief Executive Officer. Violations will be taken seriously and investigated by the Board, as the case may be, or by a person or persons designated by the Board, and appropriate disciplinary action will be taken in the event of any violations of the Code.

If there are any questions involving application of this Code, guidance should be sought from the Company's outside counsel.

It shall also be the policy of the Company that the directors and officers of the Company acknowledge receipt of and certify their willingness to adhere to the foregoing annually and file a copy of such certification with the Board.

This Code of Conduct and Ethics is effective as of July 14, 2025.

**CERTIFICATE OF COMPLIANCE**

**WITH THE CODE OF CONDUCT AND ETHICS OF COLLAB Z INC.**

I hereby certify that:

1. I have read the Code of Conduct and Ethics for the Directors,
Officers and Employees (the "**Code**") of Collab Z Inc. (the "**Company**") at least once during the past
12 months and understand my responsibility to comply with the principles and policies contained in the Code. I recognize that my failure
to comply with such principles and policies will be cause for severe disciplinary action or termination of my employment. I also recognize
that this Code is not a comprehensive description of Company policies and that I may be subject to disciplinary action and termination
of my employment for actions not detailed in this Code.

2. Except as stated at paragraph 3, immediately below:

(a) I and, to the best of my knowledge, members of my immediate
family, do not have any interest which might be deemed to be a conflict of interest under the Code

(b) To my knowledge, I have not violated any federal, state,
local or foreign law in connection with the Company's business; and

(c) I am not aware of any Company activities which violate the
Code.

3. Exceptions to the above are noted below or separately attached:

I hereby certify that the above statements are, to the best of my knowledge and belief, true and accurate. I also certify my understanding that nothing in the Code is intended to create an express or implied contract of employment or a guarantee of continued employment, and that adherence to the Code or any other policy or procedure of the Company does not modify any employment-at-will relationship that may exist between the Company and myself.

---

| |
|:---|
| Signature: |
| Print Name: |
| Title: |
| Date: |

---

*Please print your name and title under your signature and <br> return this certificate to the Company.*

## Exhibit 19.1

**Exhibit 19.1**

**COLLAB Z INC. <br> INSIDER TRADING POLICY**

Dated: July 14, 2025

**Purpose**

This Insider Trading Policy (this "**Policy**") provides guidelines with respect to transactions in the securities of Collab Z Inc., a Nevada corporation (the "**Company**"), and the handling of confidential information about the Company and the companies with which the Company does business.

The Company's Board of Directors ("**Board**") has adopted this Policy to promote compliance with federal, state, and foreign securities laws that prohibit certain persons who are aware of material nonpublic information about a company from: (i) trading in securities of that company (e.g., purchasing and selling of securities, including purchases and sales of options and warrants on securities, as well as short sales); or (ii) providing material nonpublic information to other persons who may trade on the basis of that information.

**Persons Subject to the Policy**

This Policy applies to all officers of the Company and its subsidiaries, all members of the Board and all employees of the Company and its subsidiaries. The Company may also determine that other persons should be subject to this Policy, such as contractors or consultants who have access to material nonpublic information. This Policy also applies to family members, other members of a person's household and entities controlled by a person covered by this Policy, as described below.

**Transactions Subject to the Policy**

This Policy applies to transactions in the Company's securities (collectively referred to in this Policy as "**Company Securities**"), including the Company's common stock, options to purchase common stock, or any other type of securities that the Company may issue, including, but not limited to, preferred stock, convertible debentures and warrants, as well as derivative securities that are not issued by the Company, such as exchange-traded put or call options or swaps relating to the Company's Securities. There are certain exceptions that are discussed in this Policy under "Transactions Under Company Plans," "Transactions Not Involving a Purchase or Sale," and "Rule 10b5-1 Plans."

**Individual Responsibility**

Persons subject to this Policy have ethical and legal obligations to maintain the confidentiality of information about the Company and to not engage in transactions in Company Securities while in possession of material nonpublic information.

Persons subject to this Policy must not engage in illegal trading and must avoid the appearance of improper trading. Each individual is responsible for making sure that he or she complies with this Policy, and that any family member, household member, or entity whose transactions are subject to this Policy, as discussed below, also comply with this Policy.

In all cases, the responsibility for determining whether an individual is in possession of material nonpublic information rests with that individual, and any action on the part of the Company, the Compliance Officer, or any other employee or director pursuant to this Policy or otherwise does not in any way constitute legal advice or insulate an individual from liability under applicable securities laws.

You could be subject to severe legal penalties and disciplinary action by the Company for any conduct prohibited by this Policy or applicable securities laws, as described below in more detail under the heading "Consequences of Violations."

**Administration of the Policy**

[_______] shall serve as the Compliance Officer for the purposes of this Policy. The Compliance Officer is authorized to consult with the Company's securities counsel without notice and at such times as they may deem necessary or appropriate at the expense of the Company. All determinations and interpretations by the Compliance Officer shall be final and not subject to further review. The duties of the Compliance Officer include, but are not limited to, the following:

● assisting with implementation and enforcement of this Policy;

● circulating this Policy to all employees and ensuring that this Policy is amended as necessary to remain up-to-date with insider trading laws;

● ensuring that the Company obtain and maintain written acknowledgments from employees that they have read the policy;

● overseeing the responses to questions from individual employees;

● providing for employee training sessions;

● ensuring that relevant files on policy compliance and implementation are maintained;

● pre-clearing all trading in securities of the Company in accordance with the procedures as discussed in this Policy under "Pre-Clearance Procedures";

● providing approval of any Rule 10b5-1 plans as discussed in this Policy under "Rule 10b5-1 Plans" and any prohibited transactions as discussed in this Policy; and

● providing a reporting system with an effective whistleblower protection mechanism.

**Statement of Policy**

It is the policy of the Company that no director, officer, or other employee of the Company (or any other person designated by this Policy or by the Compliance Officer as subject to this Policy) who is aware of material nonpublic information relating to the Company may, directly, or indirectly through family members or other persons or entities:

1. Engage in transactions in Company Securities, except as otherwise specified in this Policy under the headings
"Transactions Under Company Plans," "Transactions Not Involving a Purchase or Sale," and "Rule 10b5-1 Plans";

2. Recommend the purchase or sale of any Company Securities;

3. Disclose material nonpublic information to persons within the Company whose jobs do not require them to
have that information, or outside of the Company to other persons, including, but not limited to, family, friends, business associates,
investors, and expert consulting firms, unless any such disclosure is made in accordance with the Company's policies regarding the
protection or authorized external disclosure of information regarding the Company; or

4. Assist anyone engaged in the above activities.

In addition, it is the policy of the Company that no director, officer, or other employee of the Company or any other person designated as subject to this Policy who, in the course of working for the Company, learns of material nonpublic information about a company with which the Company does business, including a customer or supplier of the Company, may trade in that company's securities until the information becomes public or is no longer material.

There are no exceptions to this Policy, except as specifically noted herein. Transactions that may be necessary or justifiable for independent reasons (such as the need to raise money for an emergency expenditure), or small transactions, are not excepted from this Policy. The securities laws do not recognize any mitigating circumstances, and, in any event, even the appearance of an improper transaction must be avoided to preserve the Company's reputation for adhering to the highest standards of conduct.

**Definition of Material Nonpublic Information**

Information is considered "material" if a reasonable investor would consider that information important in making a decision to buy, hold, or sell securities. Any information that could be expected to affect a company's stock price, whether it is positive or negative, should be considered material. There is no bright-line standard for assessing materiality; rather, materiality is based on an assessment of all of the facts and circumstances and is often evaluated by enforcement authorities with the benefit of hindsight.

While it is not possible to define all categories of material information, some examples of information that ordinarily would be regarded as material are:

● Projections of future earnings or losses, or other earnings guidance;

● Changes to previously announced earnings guidance, or decisions to suspend earnings guidance;

● A pending or proposed merger, acquisition, or tender offer;

● A pending or proposed acquisition or disposition of a significant asset;

● A pending or proposed joint venture;

● A Company restructuring;

● Significant related party transactions;

● A change in dividend policy, the declaration of a stock split, or an offering of additional securities;

● Bank borrowings or other financing transactions out of the ordinary course of business;

● The establishment of a repurchase program for Company Securities;

● A change in the Company's pricing or cost structure;

● Major marketing changes;

● A change in management;

● A change in auditors or notification that the auditor's report may no longer be relied upon;

● Development of a significant new product, process, or service;

● Pending or threatened significant litigation, or the resolution of such litigation;

● Impending bankruptcy or the existence of severe liquidity problems;

● The gain or loss of a significant customer or supplier;

● The results of clinical trials or testing of the Company's products or services;

● A significant cybersecurity incident, such as a data breach, or any other significant disruption in the Company's operations or loss, potential loss, breach, or unauthorized access of its property or assets, whether at its facilities or through its information technology infrastructure; or

● The imposition of an event-specific restriction on trading in the Company's Securities or the securities of another company or the extension or termination of such restriction.

Information that has not been disclosed to the public is generally considered to be nonpublic information. In order to establish that the information has been disclosed to the public, it may be necessary to demonstrate that the information has been widely disseminated. Information generally would be considered widely disseminated if it has been disclosed through the Dow Jones "broad tape," newswire services, a broadcast on widely-available radio or television programs, publication in a widely-available newspaper, magazine or news website, or public disclosure documents filed with the Securities and Exchange Commission ("**SEC**") that are available on the SEC's website, or subject to the Compliance Officer's determination, disclosure on the Company's website, or through social media.

By contrast, information would likely not be considered widely disseminated if it is available only to the Company's employees. Nonpublic information may also include: (i) information available to a select group of analysts or brokers or institutional investors; (ii) undisclosed facts that are the subject of rumors, even if the rumors are widely circulated; and (iii) information that has been entrusted to the Company on a confidential basis until a public announcement of the information has been made and enough time has elapsed for the market to respond to a public announcement of the information (normally two (2) trading days).

Once information is widely disseminated, it is still necessary to provide the investing public with sufficient time to absorb the information. As a general rule, information should not be considered fully absorbed by the marketplace until after the second (2nd) business day after the day on which the information is released. If, for example, the Company were to make an announcement on a Monday, you should not trade in Company Securities until Thursday. Depending on the particular circumstances, the Company may determine that a longer or shorter period should apply to the release of specific material nonpublic information. For purposes of this Policy, a "business day" is any day that The Nasdaq Stock Market LLC is open for trading.

As with questions of materiality, if you are not sure whether information is considered public, you should either consult with the Compliance Officer or assume that the information is nonpublic and treat it as confidential.

**Transactions by Family Members and Others**

This Policy applies to your family members who reside with you (including a spouse, a child, a child away at college, stepchildren, grandchildren, parents, stepparents, grandparents, siblings, and in-laws), anyone else who lives in your household, and any family members who do not live in your household but whose transactions in Company Securities are directed by you or are subject to your influence or control, such as parents or children who consult with you before they trade in Company Securities (collectively referred to as "**Family Members**").

You are responsible for the transactions of these other persons and therefore should make them aware of the need to confer with you before they trade in Company Securities, and you should treat all such transactions for the purposes of this Policy and applicable securities laws as if the transactions were for your own account.

This Policy does not, however, apply to personal securities transactions of Family Members where the purchase or sale decision is made by a third party not controlled by, influenced by or related to you or your Family Members.

**Transactions by Entities that You Influence or Control**

This Policy applies to any entities that you influence or control, including any corporations, partnerships, or trusts (collectively referred to as "**Controlled Entities**"), and transactions by these Controlled Entities should be treated for the purposes of this Policy and applicable securities laws as if they were for your own account.

**Transactions Under Company Plans**

This Policy does not apply in the case of the following transactions, if currently applicable, except as specifically noted:

<u>Stock Option Exercises</u>

This Policy does not apply to the exercise of an employee stock option acquired pursuant to the Company's plans, or to the exercise of a tax withholding right pursuant to which a person has elected to have the Company withhold shares subject to an option to satisfy tax withholding requirements. This Policy does apply, however, to any sale of stock as part of a broker-assisted cashless exercise of an option, or any other market sale for the purpose of generating the cash needed to pay the exercise price of an option.

<u>Restricted Stock Awards</u>

This Policy does not apply to the vesting of restricted stock, or the exercise of a tax withholding right pursuant to which you elect to have the Company withhold shares of stock to satisfy tax withholding requirements upon the vesting of any restricted stock. The Policy does apply, however, to any market sale of restricted stock.

<u>401(k) Plan</u>

This Policy does not apply to purchases of Company Securities in the Company's 401(k) plan resulting from your periodic contribution of money to the plan pursuant to your payroll deduction election.

This Policy does apply, however, to certain elections you may make under the 401(k) plan, including: (i) an election to increase or decrease the percentage of your periodic contributions that will be allocated to the Company stock fund;

(ii) an election to make an intra-plan transfer of an existing account balance into or out of the Company stock fund;

(iii) an election to borrow money against your 401(k) plan account if the loan will result in a liquidation of some or all of your Company stock fund balance; and (iv) an election to pre-pay a plan loan if the pre-payment will result in allocation of loan proceeds to the Company stock fund. It should be noted that sales of Company Securities from a 401(k) account are also subject to Rule 144, and therefore affiliates should ensure that a Form 144 is filed when required.

<u>Employee Stock Purchase Plan</u>

This Policy does not apply to purchases of Company Securities in the employee stock purchase plan resulting from your periodic contribution of money to the plan pursuant to the election you made at the time of your enrollment in the plan. This Policy also does not apply to purchases of Company Securities resulting from lump sum contributions to the plan, provided that you elected to participate by lump sum payment at the beginning of the applicable enrollment period.

This Policy does apply, however, to your election to participate in the plan for any enrollment period, and to your sales of Company Securities purchased pursuant to the plan.

<u>Dividend Reinvestment Plan</u>

This Policy does not apply to purchases of Company Securities under the Company's dividend reinvestment plan resulting from your reinvestment of dividends paid on Company Securities.

This Policy does apply, however, to voluntary purchases of Company Securities resulting from additional contributions you choose to make to the dividend reinvestment plan, and to your election to participate in the plan or increase your level of participation in the plan. This Policy also applies to your sale of any Company Securities purchased pursuant to the plan.

<u>Other Similar Transactions</u>

Any other purchase of Company Securities from the Company or sales of Company Securities to the Company are not subject to this Policy.

**Transactions Not Involving a Purchase or Sale**

Bona fide gifts are not transactions subject to this Policy, unless the person making the gift has reason to believe that the recipient intends to sell the Company Securities while the officer, employee, or director is aware of material nonpublic information, or the person making the gift is subject to the trading restrictions specified below under the heading "Additional Procedures" and the sales by the recipient of the Company Securities occur during a blackout period.

Further, transactions in mutual funds that are invested in Company Securities are not transactions subject to this Policy.

**Special and Prohibited Transactions**

Accordingly, the Company has determined that there is a heightened legal risk and/or the appearance of improper or inappropriate conduct if the persons subject to this Policy engage in certain types of transactions. It therefore is the Company's policy that any persons covered by this Policy may not engage in any of the following transactions, or should otherwise consider the Company's preferences as described below.

<u>Short-Term Trading</u>

Short-term trading of Company Securities may be distracting to the person and may unduly focus the person on the Company's short-term stock market performance instead of the Company's long-term business objectives. For these reasons, any director, officer, or other employee of the Company who purchases Company Securities in the open market may not sell any Company Securities of the same class during the six (6) months following the purchase or vice versa. Directors and officers should note the short-term trading restrictions of Section 16(b) of the Securities Exchange Act of 1934, as amended ("**Exchange Act**").

<u>Short Sales</u>

Short sales of Company Securities (i.e., the sale of a security that the seller does not own) may evidence an expectation on the part of the seller that the securities will decline in value, and therefore have the potential to signal to the market that the seller lacks confidence in the Company's prospects. In addition, short sales may reduce a seller's incentive to seek to improve the Company's performance. For these reasons, short sales of Company Securities are prohibited. In addition, Section 16(c) of the Exchange Act prohibits officers and directors from engaging in short sales. (Short sales arising from certain types of hedging transactions are governed by the paragraph below captioned "Hedging Transactions.")

<u>Publicly-Traded Options</u>

Given the relatively short term of publicly-traded options, transactions in options may create the appearance that a director, officer, or employee is trading based on material nonpublic information and focus a director's, officer's, or other employee's attention on short-term performance at the expense of the Company's long-term objectives. Accordingly, transactions in put options, call options, or other derivative securities, on an exchange or in any other organized market, are prohibited by this Policy. (Option positions arising from certain types of hedging transactions are governed by the next paragraph below.)

<u>Hedging Transactions</u>

Hedging or monetization transactions can be accomplished through a number of possible mechanisms, including through the use of financial instruments such as prepaid variable forwards, equity swaps, collars, and exchange funds. Such transactions may permit a director, officer, or employee to continue to own Company Securities obtained through employee benefit plans or otherwise, but without the full risks and rewards of ownership. When that occurs, the director, officer, or employee may no longer have the same objectives as the Company's other shareholders. Therefore, directors, officers, and employees are prohibited from engaging in any such transactions.

<u>Margin Accounts and Pledged Securities</u>

Securities held in a margin account as collateral for a margin loan may be sold by the broker without the customer's consent if the customer fails to meet a margin call. Similarly, securities pledged or hypothecated as collateral for a loan may be sold in foreclosure if the borrower defaults on the loan. Because a margin sale or foreclosure sale may occur at a time when the pledgor is aware of material nonpublic information or otherwise is not permitted to trade in Company Securities, directors, officers, and other employees are prohibited from holding Company Securities in a margin account and are strongly discouraged from pledging Company Securities as collateral for a loan. Any person wishing to enter into a legitimate loan pledge arrangement must first submit the proposed transaction in writing for approval by the Compliance Officer at least two (2) weeks prior to the proposed execution of documents evidencing the proposed transaction and must set forth a justification for the proposed transaction and clearly demonstrate the financial capacity to repay the loan without resorting to the pledged securities. The person making the request shall have no other contact with the Compliance Officer on that matter and the Compliance Officer's decision shall be final and binding. (Pledges of Company Securities arising from certain types of hedging transactions are governed by the paragraph above captioned "Hedging Transactions.")

<u>Standing and Limit Orders</u>

Standing and limit orders, except standing and limit orders under approved Rule 10b5-1 Plans, as described below, create heightened risks for insider trading violations similar to the use of margin accounts. There is no control over the timing of purchases or sales that result from standing instructions to a broker, and as a result the broker could execute a transaction when a director, officer, or other employee is in possession of material nonpublic information. The Company therefore discourages placing standing or limit orders on Company Securities. If a person subject to this Policy determines that they must use a standing order or limit order, the order should be limited to short duration and should otherwise comply with the restrictions and procedures outlined below under the heading "Additional Procedures."

**Additional Procedures**

The Company has established additional procedures in order to assist the Company in the administration of this Policy, to facilitate compliance with laws prohibiting insider trading while in possession of material nonpublic information, and to avoid the appearance of any impropriety. These additional procedures are applicable only to those individuals described below.

<u>Pre-Clearance Procedures</u>

The persons designated by the Compliance Officer as being subject to these procedures, as well as the Family Members and Controlled Entities of such persons, may not engage in any transaction in Company Securities without first obtaining pre-clearance of the transaction from the Compliance Officer.

A written request for pre-clearance should be submitted to the Compliance Officer at least two (2) business days in advance of the proposed transaction. The Compliance Officer is under no obligation to approve a transaction submitted for pre-clearance, and may determine not to permit the transaction. If a person seeks preclearance and permission to engage in the transaction is denied, then he or she should refrain from initiating any transaction in Company Securities, and should not inform any other person of the restriction.

When a request for pre-clearance is made, the requestor should carefully consider whether he or she may be aware of any material nonpublic information about the Company, and should describe fully those circumstances to the Compliance Officer. The requestor should also indicate whether he or she has effected any non-exempt "opposite- way" transactions within the past six months, and should be prepared to report the proposed transaction on an appropriate Form 4 or Form 5. The requestor should also be prepared to comply with SEC Rule 144 and file Form 144, if necessary, at the time of any sale.

All pre-cleared trades must be effected within five (5) business days of receipt of pre-clearance unless an exception is granted. Transactions not effected within the time limit are subject to pre-clearance again. Within three (3) business days after the execution of the transaction, the requestor shall notify the Compliance Officer of the date and size of the transaction.

The Compliance Officer shall document and maintain records relating to the pre-clearing request, the date of grant or denial, and other pertinent information.

<u>Blackout Periods</u>

The persons designated by the Compliance Officer as subject to this restriction, as well as their Family Members or Controlled Entities, may not conduct any transactions involving the Company's Securities (other than as specified by this Policy), during a "Blackout Period" beginning the last day of each fiscal quarter and ending after the close of business on the second (2<sup>nd</sup>) trading day following the date of the public release of the Company's earnings results for that quarter. In other words, these persons may only conduct transactions in Company Securities during the "Window Period" beginning on the third (3<sup>rd</sup>) trading day following the public release of the Company's quarterly earnings until the last trading day of the each fiscal quarter.

It is worth noting that due to the SEC filing deadlines for the Company's annual report on Form 10-K and quarterly report on Form 10-Q for the first fiscal quarter ended March 31st, the Trading Window for the fourth quarter will not reopen until the opening of the third trading day after the Company files its quarterly report on Form 10-Q for the fiscal quarter ended March 31<sup>st</sup> – resulting in a Blackout Period of approximately four and a half months from the last trading day before December 31<sup>st</sup>.

Under certain very limited circumstances, a person subject to this restriction may be permitted to trade during a Blackout Period, but only if the Compliance Officer, with the advice of securities counsel if requested by the Compliance Officer, concludes that the person does not in fact possess material nonpublic information and may otherwise trade.

Persons wishing to trade during a Blackout Period must make such request in writing to the Compliance Officer for approval at least three (3) business days in advance of any proposed transaction involving Company Securities. All such trades are subject to the pre-clearance procedures set forth above under "Pre-Clearance Procedures."

<u>Event-Specific Trading Restriction Periods</u>

From time to time, an event may occur that is material to the Company and is known by only a few executives or directors (e.g., negotiation of mergers, acquisitions or dispositions, investigation and assessment of cybersecurity incidents, or new product developments). The involved directors or officers shall promptly notify the Compliance Officer of such event. While such event remains material and nonpublic, the Company may impose special blackout periods ("**Special Blackout Period**") during which executive officers, directors, and such other persons designated by the Compliance Officer, together with their family members, are prohibited from trading in the Company's securities. If the Company imposes a Special Blackout Period, it will notify those affected and will not announce its existence other than to those who are aware of the event giving rise to the Special Blackout Period. If you know of the event, then even if the Compliance Officer has not designated you as a person who should not trade due to an event- specific restriction, you should not trade while you are aware of material nonpublic information. Exceptions will not be granted during an event-specific trading restriction period. Any person made aware of the existence of a Special Blackout Period should not disclose its existence to any other person.

In addition, the Company's financial results may be sufficiently material in a particular fiscal quarter that, in the judgment of the Compliance Officer, designated persons should refrain from trading in Company Securities even later than the typical Blackout Period described above.

<u>Exceptions</u>

<u> </u>

The quarterly trading restrictions and event-specific trading restrictions do not apply to those transactions to which this Policy does not apply, as described above under the headings "Transactions Under Company Plans" and "Transactions Not Involving a Purchase or Sale." Further, the requirement for pre-clearance, the quarterly trading restrictions, and event-specific trading restrictions do not apply to transactions conducted pursuant to approved Rule 10b5-1 plans, described under the heading "Rule 10b5-1 Plans."

**Rule 10b5-1 Plans**

Rule 10b5-1 under the Exchange Act provides a defense from insider trading liability under Rule 10b-5. In order to be eligible to rely on this defense, a person subject to this Policy must enter into a Rule 10b5- 1 plan for transactions in Company Securities that meets certain conditions specified in Rule 10b-5-1 (a "**Rule 10b5-1 Plan**"). If the plan meets the requirements of Rule 10b5-1, Company Securities may be purchased or sold without regard to certain insider trading restrictions.

To comply with the Policy, a Rule 10b5-1 Plan must be approved by the Compliance Officer and meet the requirements of Rule 10b5-1 and the Company's "Guidelines for Rule 10b5-1 Plans," which may be obtained from the Compliance Officer. In general, a Rule 10b5-1 Plan must be entered into at a time when the person entering into the plan is not aware of material nonpublic information. Once the plan is adopted, the person must not exercise any influence over the amount of securities to be traded, the price at which they are to be traded, or the date of the trade. The plan must either specify the amount, pricing, and timing of transactions in advance or provide a third party irrevocable authority to effect such transactions at its own discretion, so long as the third party does not possess material inside information about the Company at the time of the transaction.

Any Rule 10b5-1 Plan must be submitted in writing for approval by the Compliance Officer no less than five (5) business days prior to the entry into the Rule 10b5-1 Plan. No further pre-approval of transactions conducted pursuant to the Rule 10b5-1 Plan will be required.

The Company may, on a case-by-case basis, announce publicly (whether by press release, on the Company website, or otherwise) that a key insider has established a pre-arranged plan at the time the plan is entered into, in order to mitigate potentially adverse publicity if a programmed trade on behalf of that insider occurs on some later date when the insider is in possession of material nonpublic information about the Company.

**Post-Termination Transactions**

This Policy continues to apply to transactions in Company Securities even after termination of service to the Company. If an individual is in possession of material nonpublic information when his or her service terminates, that individual may not trade in Company Securities until that information has become public or is no longer material.

**Consequences of Violations**

The purchase or sale of securities while aware of material nonpublic information, or the disclosure of material nonpublic information to others who then trade in the Company's Securities, is prohibited by the federal and state laws. Insider trading violations are pursued vigorously by the SEC, U.S. attorneys, and state enforcement authorities as well as the laws of foreign jurisdictions.

In addition, a person who "tips" others may also be liable for transactions by the tippees to whom he or she has disclosed material nonpublic information. Tippers can be subject to the same penalties and sanctions as the tippees, and the SEC has imposed large penalties even when the tipper did not profit from the transaction.

Punishment for insider trading violations is severe, and could include significant fines and imprisonment. While the regulatory authorities concentrate their efforts on the individuals who trade, or who "tip" inside information to others who trade, the federal securities laws also impose potential liability on companies and other "controlling persons" if they fail to take reasonable steps to prevent insider trading by company personnel.

The SEC can seek substantial civil penalties from any person who, at the time of an insider trading violation, "directly or indirectly controlled the person who committed such violation," which would apply to the Company and/or management and supervisory personnel. These controlling persons may be held liable for up to the greater of $2.3 million or three times the amount of the profits gained or losses avoided. Even for violations that result in a small or no profit, the SEC can seek penalties from a company and/or its management and supervisory personnel as controlling persons.

In addition, an individual's failure to comply with this Policy may subject the individual to Company- imposed sanctions, including dismissal for cause, whether or not the employee's failure to comply results in a violation of law. Needless to say, a violation of law, or even an SEC investigation that does not result in prosecution, can tarnish a person's reputation and irreparably damage a career. Given the severity of the potential penalties, compliance with this Policy is absolutely mandatory.

**Company Assistance**

Any person who has a question about this Policy or its application to any proposed transaction may obtain additional guidance from the Compliance Officer, who can be reached by via e-mail at support@collabhome.io.

**Certification**

All persons subject to this Policy must certify their understanding of, and intent to comply with, this Policy. Please complete and sign the accompanying Certification page, attached hereto as <u>Exhibit A</u>, and return to the Company's Office Administrator, Zilong Xin, at: Zilong.xin@collabhome.io.

<u>EXHIBIT A</u>

I certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have read and understand the Company's Insider Trading Policy (the "**Policy**"). I understand that the Chief Financial Officer is available to answer any questions I have regarding the Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Since the date this Policy became effective, or such shorter period of time that I have been a director, officer or other employee of the Company, I have complied with the Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. I will continue to comply with the Policy for as long as I am subject to the Policy.

Signature: <br> Date: <br> Print Name:

## Exhibit 21.1

**Exhibit 21.1**

**Subsidiaries**

---

| | |
|:---|:---|
| **Entity** | **Jurisdiction** |
| Collab CA LLC | California |

---

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use, in this Registration Statement on Form S-1, of our report dated January 21, 2025, related to the consolidated financial statements of Collab Z Inc. as of September 30, 2024 and 2023, and for the years then ended. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

/s/ dbbmckennon

Newport Beach, California

July 21, 2025

## Exhibit 99.1

**Exhibit 99.1**

**COLLAB Z INC.**

**CLAWBACK POLICY**

**<u>Introduction</u>**

The Board of Directors ("**Board**") of Collab Z Inc. (the "**Company**") believes that it is in the best interests of the Company and its stockholders to adopt this policy which provides for the recoupment of certain executive compensation in the event of an accounting restatement resulting from material noncompliance with financial reporting requirements under the federal securities laws (the "**Policy**"). This Policy is designed to comply with Section 10D of the Securities Exchange Act of 1934, as amended (the "**Exchange Act**"), Rule 10D-1 promulgated under the Exchange Act ("**Rule 10D-1**") and Listing Rule 5608 of The Nasdaq Stock Market LLC ("**Nasdaq**").

**<u>Administration</u>**

This Policy shall be administered by the Board or, if so designated by the Board, the Compensation Committee of the Board (the "**Compensation Committee**") or the Audit Committee of the Board (the "**Audit Committee**"), or any special committee comprised of members of the Compensation Committee or Audit Committee (the "**Administrator**"). Any determinations made by the Administrator shall be final and binding on all affected individuals. Subject to any limitation at applicable law, the Administrator may authorize and empower any officer or employee of the Company to take any and all actions necessary or appropriate to carry out the purpose and intent of this Policy (other than with respect to any recovery under this Policy involving such officer or employee).

**<u>Covered Executives</u>**

This Policy applies to the Company's current and former executive officers, as determined by the Administrator in accordance with Section 10D of the Exchange Act and the listing standards of the national securities exchange on which the Company's securities are listed, and such other senior executives/employees who may from time to time be deemed subject to the Policy by the Administrator (each, a "**Covered Executive**").

For the purposes of this Policy, "executive officers" shall include persons subject to reporting and short-swing liability provisions of Section 16 under the Exchange Act. This shall include the Company's president, principal financial officer, principal accounting officer (or if there is no such accounting officer, the controller), any vice president in charge of a principal business unit, division, or function (such as sales, administration, or finance), any other officer who performs a policy-making function, or any other person who performs similar policy-making functions for the Company and any person identified under Regulation S-K Rule 401(b) in the Company's annual reports and proxy statements. Executive officers of a parent or subsidiary are deemed executive officers of the listed company if they perform such policy-making functions for the listed company or such parent or subsidiary. The policy-making function is not intended to include policy-making functions that are not significant.

**<u>Recoupment; Accounting Restatement</u>**

In the event the Company is required to prepare an accounting restatement of its financial statements due to the Company's material noncompliance with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period, the Administrator will require, as promptly as it reasonably can, reimbursement or forfeiture of any Incentive Compensation, as defined below, received by any Covered Executive during the three completed fiscal years immediately preceding the date on which the Company is required to prepare an accounting restatement (the "Restatement Date"), so long as the Incentive Compensation received by such Covered Executive is in excess of what would have been awarded or vested after giving effect to the accounting restatement. The amount to be recovered will be the excess of Incentive Compensation paid to the Covered Executive based on the erroneous data in the original financial statements over the Incentive Compensation that would have been paid to the Covered Executive had it been based on the restated results, without respect to any taxes paid.

The Restatement Date is defined as the earlier of (i) the date the Board, a Board committee, or management (if no Board action is required) concludes, or reasonably should have concluded, that the Company is required to prepare an accounting restatement or (ii) the date a court, regulator, or other legally authorized body directs the Company to prepare an accounting restatement.

**<u>Incentive Compensation</u>**

For purposes of this Policy, "**Incentive Compensation**" means any of the following; provided that, such compensation is granted, earned, or vested based wholly or in part on the attainment of a financial reporting measure:

● Annual bonuses and other short- and long-term cash incentives.

● Stock options.

● Stock appreciation rights.

● Restricted stock.

● Restricted stock units.

● Performance shares.

● Performance units.

● Non-equity incentive plan awards.

Financial reporting measures include any measure that is determined and presented in accordance with the accounting principles used in preparing the Company's financial statements, and any measure that is derived wholly or in-part from such measure. The following examples (and any measures derived therefrom) are non-exhaustive:

● Company stock price.

● Total stockholder return.

● Revenues.

● Net income.

● Operating income.

● Earnings before interest, taxes, depreciation, and amortization (EBITDA).

● Funds from operations and adjusted funds from operations.

● Liquidity measures such as working capital or operating cash flow.

● Return measures such as return on invested capital or return on assets.

● Earnings measures such as earnings per share.

● Profitability of one or more reportable segments.

● Financial Ratios such as accounts receivable turnover and inventory turnover rates.

● Sales per square foot or same store sales, where sales is subject to an accounting restatement.

● Revenue per user or average revenue per user.

● Cost per employee, where cost is subject to any accounting restatement.

● Any of such financial reporting measures relative to a peer group, where the Company's financial reporting measure is subject to an accounting restatement; and tax basis income.

● Capital raised through debt or equity financing.

● Reductions in accounts receivables.

For the avoidance of doubt, Incentive Compensation does not include annual salary, compensation awarded based on completion of a specified period of service, or compensation awarded based on subjective standards, strategic measures, or operational measures.

Incentive Compensation includes incentive-based compensation received by a person:

● after beginning service as an executive officer;

● who serves as an executive officer at any time during the performance period for the incentive-based compensation;

● who served as an executive officer while the Company has a class of securities listed on a national securities exchange; and

● who serves as an executive officer during the three fiscal years preceding the Restatement Date.

For the avoidance of doubt, subsequent changes in a Covered Executive's employment status, including retirement or termination of employment, do not affect the Company's rights to recover Incentive-Based Compensation pursuant to this Policy.

**<u>Excess Incentive Compensation: Amount Subject to Recovery</u>**

The amount to be recovered will be the excess of the Incentive Compensation paid to the Covered Executive based on the erroneous data over the Incentive Compensation that would have been paid to the Covered Executive had it been based on the restated results, as determined by the Administrator. Incentive Compensation is deemed "received" during the fiscal period during which the financial reporting measure specified in the incentive-based compensation award is attained, even if payment or grant of the Incentive Compensation occurs after the end of the period.

If the Administrator cannot determine the amount of excess Incentive Compensation received by the Covered Executive directly from the information in the accounting restatement, then it will make its determination based on a reasonable estimate of the effect of the accounting restatement.

**<u>Method of Recoupment</u>**

The Administrator will determine, in its sole discretion, the method for recouping excess Incentive Compensation hereunder, which may include, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;(a) requiring reimbursement of cash Incentive Compensation previously
paid;

&nbsp;&nbsp;&nbsp;&nbsp;(b) seeking recovery of any gain realized on the vesting, exercise,
settlement, sale, transfer, or other disposition of any equity-based awards;

&nbsp;&nbsp;&nbsp;&nbsp;(c) offsetting the recouped amount from any compensation otherwise
owed by the Company to the Covered Executive; (d)cancelling outstanding vested or unvested equity awards; and/or

&nbsp;&nbsp;&nbsp;&nbsp;(e) taking any other remedial and recovery action permitted by
law, as determined by the Administrator.

**<u>No Indemnification of Covered Executives</u>**

The Company shall not indemnify any current or former Covered Executive against the loss of any incorrectly awarded Incentive Compensation, and shall not pay, or reimburse any Covered Executive for premiums for any insurance policy to fund such executive's potential recovery obligations.

**<u>Indemnification of the Administrator</u>**

Any members of the Administrator who assist in the administration of this Policy, shall not be personally liable for any action, determination, or interpretation made with respect to this Policy and shall be fully indemnified by the Company to the fullest extent under applicable law and Company policy with respect to any such action, determination or interpretation. The foregoing sentence shall not limit any other rights to indemnification of the Administrator under applicable law or Company policy.

**<u>Interpretation</u>**

The Administrator is authorized to interpret and construe this Policy and to make all determinations necessary, appropriate, or advisable for the administration of this Policy. It is intended that this Policy be interpreted in a manner that is consistent with the requirements of Section 10D of the Exchange Act, Rule 10D-1, Nasdaq Listing Rule 5608, and any other applicable rules or standards adopted by the Securities and Exchange Commission or any national securities exchange on which the Company's securities are then listed.

**<u>Effective Date</u>**

This Policy shall be effective as of the date it is adopted by the Administrator (the "**Effective Date**") and shall apply to Incentive Compensation that is approved, awarded, or granted to any Covered Executive on or after that date.

**<u>Amendment; Termination</u>**

The Board may amend this Policy from time to time in its discretion and shall amend this Policy as it deems necessary to reflect final regulations adopted by the Securities and Exchange Commission under Section 10D of the Exchange Act, Rule 10D-1 and Nasdaq Listing Rule 5608 and to comply with any other rules or standards adopted by a national securities exchange on which the Company's securities are then listed. The Board may terminate this Policy at any time.

**<u>Other Recoupment Rights</u>**

The Administrator intends that this Policy will be applied to the fullest extent of the law. The Administrator may require that any employment agreement, equity award agreement, or similar agreement entered into on or after the Effective Date shall, as a condition to the grant of any benefit thereunder, require a Covered Executive to agree to abide by the terms of this Policy. Any right of recoupment under this Policy is in addition to, and not in lieu of, any other remedies or rights of recoupment that may be available to the Company pursuant to the terms of any similar policy in any employment agreement, equity award agreement, or similar agreement and any other legal remedies available to the Company.

**<u>Impracticability</u>**

The Administrator shall recover any excess Incentive Compensation in accordance with this Policy unless such recovery would be impracticable, as determined by the Administrator in accordance with Rule 10D-1 of the Exchange Act and the listing standards of the national securities exchange on which the Company's securities are listed.

**<u>Successors</u>**

This Policy shall be binding and enforceable against all Covered Executives and their beneficiaries, heirs, executors, administrators or other legal representatives.

**<u>Exhibit Filing Requirement</u>**

A copy of this Policy and any amendments thereto shall be posted on the Company's website and filed as an exhibit to the Company's Annual Report on Form 10-K.

## Exhibit 99.2

**Exhibit 99.2**

**COLLAB Z INC.**

**AUDIT COMMITTEE CHARTER**

**I.**  **<u>PURPOSE.</u>** 

The Audit Committee (the "**Committee**") is appointed by the Board of Directors (the "**Board**") of Collab Z Inc. (the "**Company**"). The purpose of the Committee is to assist the Board in fulfilling its oversight responsibility relating to (i) the integrity of the Company's and its subsidiaries' financial statements and financial reporting process and the Company's and its subsidiaries' systems of internal accounting and financial controls, (ii) the performance of the internal and external audit services function, (iii) the annual independent audit of the Company's and subsidiaries' financial statements, the engagement of the independent auditors and the evaluation of the independent auditors' qualifications, independence and performance, (iv) the compliance by the Company with legal and regulatory requirements, including the Company's disclosure of controls and procedures, (v) the compliance with the Company's Code of Ethics and Business Conduct and conduct of the Company's officers and directors, (vi) the evaluation of enterprise risk issues, and (vii) the fulfillment of the other responsibilities set out herein.

The Audit Committee shall prepare the report required by the U.S. Securities and Exchange Commission (the "**SEC**") to be included in the Company's public filing.

II. <u>MEMBERSHIP, STRUCTURE AND QUALIFICATIONS.</u> 

<u>Membership and Structure</u>. The Committee shall not consist of fewer than three (3) or more than seven (7) directors. The Committee members shall be elected annually by the Board, upon the recommendation of the Nominating and Corporate Governance Committee, for terms of one (1) year, or until their successors shall be duly elected and qualified.

<u>Qualifications</u>. All Committee members shall meet all applicable independence requirements of Nasdaq and of Rule 10A-3(b)(1) of the Securities Exchange Act of 1934, as amended (the "**Exchange Act**"), subject to the exemptions provided in Rule 10A-3(c) under the Exchange Act, and other applicable rules and regulations of the SEC. Additionally, no member of the Committee shall have participated in the preparation of the financial statements of the Company or any current subsidiary of the Company at any time during the preceding three (3) years and all members of the Committee must be able to read and understand fundamental financial statements, including a balance sheet, income statement, and cash flow statement.

<u>Chairman</u>. Unless the Chairman of the Committee (the "**Chairman**") is elected by the full Board, the Committee members may designate a Chairman consistent with any recommendation of the Nominating and Corporate Governance Committee.

<u>Resignation, Removal and Replacement</u>. Any director may resign from the Committee at any time upon notice of such resignation to the Company. An independent director who ceases to be independent under Nasdaq requirements shall promptly resign to the extent required for the Company to comply with applicable laws, rules and regulations. The Board shall have the power at any time to remove a member of the Committee with or without cause, to fill all vacancies, and to designate alternate members, upon the recommendation of the Committee, to replace any absent or disqualified members, so long as the Committee shall at all times have at least three (3) members and be composed solely of independent board members.

<u>Financial Expert</u>. As a matter of best practices, the Committee will endeavor to have at least one of its members with the requisite qualifications to be designated by the Board as an "audit committee financial expert," as such term is defined by Item 407(d)(5) of Regulation S-K as promulgated by the SEC ("**Regulation S-K**"). The Committee shall report to the Board for further action as appropriate, including, but not limited to, a determination by the Board that the Committee membership includes or does not include one or more "audit committee financial experts" and any related disclosure to be made concerning this matter. The designation of a member of the Committee as an "audit committee financial expert" will not increase the duties, obligations or liability of the designee as compared to the duties, obligations and liability imposed on the designee as a member of the Committee and of the Board. If the Committee does not have an "audit committee financial expert," then, in accordance with Nasdaq requirements, at least one member of the Committee must be financially sophisticated, in that he or she has past employment experience in finance or accounting, requisite professional certification in accounting, or any other comparable experience or background which results in the individual's financial sophistication, including but not limited to being or having been a chief executive officer, chief financial officer, other senior officer with financial oversight responsibilities.

III. <u>MEETINGS AND OTHER ACTIONS.</u> 

All meetings of and other actions by the Committee shall be held and taken pursuant to the bylaws of the Company (as may be amended from time to time, the "**Bylaws**"), including provisions governing notice of meetings and waiver thereof, the number of Committee members required to take action at meetings and by written consent, and other related matters. The Committee may invite any director who is not a member of the Committee, management, counsel, representatives of service providers or other persons to attend meetings and provide information as the Committee, in its sole discretion, considers appropriate.

Unless otherwise authorized by the Board, the Committee shall not delegate any of its authority to any subcommittee.

IV. <u>GOALS, RESPONSIBILITIES AND AUTHORITY.</u> 

The function of the Committee is to oversee the Company's management and independent accountants in the production of the Company's financial statements, as well as all controls and procedures relating thereto. The Company's management is primarily responsible for the preparation and presentation of the Company's financial statements and for maintaining appropriate systems for accounting and financial reporting principles and policies and internal controls and procedures that provide for compliance with accounting standards and applicable laws and regulations. The Company's independent accountants are primarily responsible for planning and carrying out a proper audit of the Company's annual financial statements, reviewing the Company's unaudited interim financial statements and auditing management's assessment of effectiveness of internal control over financial reporting in accordance with the standards of the Public Company Accounting Oversight Board (the "**PCAOB**") and other procedures. The independent accountants are accountable to the Board and the Committee, as representatives of the Company's stockholders. The Board and the Committee have the ultimate authority and responsibility to select, evaluate and, where appropriate, replace the Company's independent accountants. For purposes of this Charter, the term "**management**" means the appropriate officers of each of the Company and its subsidiaries and the phrase "**internal accounting staff**" means the appropriate officers and employees of each of the Company and its subsidiaries.

In fulfilling their responsibilities hereunder, it is recognized that members of the Committee are not full-time employees of the Company or members of management and are not, and do not represent themselves to be, accountants or auditors by profession. As such, it is not the duty or the responsibility of the Committee or its members to conduct "field work" or other types of auditing or accounting reviews or procedures to determine if the financial statements are complete and accurate and whether they have been prepared in accordance with generally accepted accounting principles in effect in the United States ("**GAAP**") or to set auditor independence standards.

Each member of the Committee shall be entitled to rely on (i) the integrity of those persons within and outside the Company and management from which it receives information, (ii) the accuracy of the financial and other information provided to the Committee absent actual knowledge to the contrary (which shall be promptly reported to the Board), and (iii) statements made by the officers and employees of the Company and its subsidiaries or other third parties as to any information technology, internal and external audit and other non-audit services provided by the independent accountants to the Company. In carrying out its responsibilities, the Committee's policies and procedures shall be adapted, as appropriate, to best react to changing markets and regulatory environments.

Nothing in this Charter shall be interpreted as diminishing or derogating the duties, responsibilities or obligations of the Board. Subject to the requirements of the Bylaws, the Committee shall:

RETENTION OF INDEPENDENT ACCOUNTANTS AND APPROVAL OF SERVICES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Select or retain each year a firm or firms of independent accountants to audit the accounts and records of the Company and its subsidiaries, to approve the terms of compensation of such independent accountants (including negotiating and executing on behalf of the Company engagement letters) and to terminate such independent accountants as it deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Pre-approve any independent accountants' engagement to render audit and/or permissible non-audit services (including the fees charged and proposed to be charged by the independent accountants), subject to the *de minimus* exceptions under Section 10A(i)(1)(B) of the Exchange Act, and as otherwise required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Committee may delegate its pre-approval responsibilities to one (1) or more of its members. The member(s) to whom such responsibility is delegated must report, for informational purposes only, any pre-approval decisions to the Committee at its next scheduled meeting.

OVERSIGHT OF THE INDEPENDENT ACCOUNTANTS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Obtain and review a report from the independent accountants at least annually regarding:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the independent accountants' internal quality-control
procedures;

&nbsp;&nbsp;&nbsp;&nbsp;(b) any material issues raised by the most recent internal quality-control
review, peer review, or review by the PCAOB, of the firm, or by any inquiry or investigation by governmental or professional authorities
within the preceding five (5) years respecting one (1) or more independent audits carried out by the firm;

&nbsp;&nbsp;&nbsp;&nbsp;(c) any steps taken with regard to the issues identified in (a)
or (b) above; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) all relationships between the independent accountants and
the Company and its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Obtain from the independent accountants annually a formal written statement of the fees billed in each of the last two (2) fiscal years for each of the following categories of services rendered by the independent accountants:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the audit of the Company's annual financial statements
and the reviews of the financial statements included in the Company's quarterly reports or services that are normally provided
by the independent accountants in connection with statutory or regulatory filings or engagements;

&nbsp;&nbsp;&nbsp;&nbsp;(b) that are reasonably related to the performance of the audit
or review of the Company's financial statements, in the aggregate and by each service;

&nbsp;&nbsp;&nbsp;&nbsp;(c) tax compliance, tax advice and tax planning services, in
the aggregate and by each service; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) all other products and services rendered by the independent
accountants, in the aggregate and by each service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Evaluate the qualifications, performance and independence of the independent accountants, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;(a) evaluating the performance of the lead (or coordinating)
audit partner, and the quality and depth of the professional staff assigned to the Company and its subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;(b) considering whether the accountant's quality controls
are appropriate and adequate in light of the standards and requirements established by the PCAOB and under applicable law at such time;
and

&nbsp;&nbsp;&nbsp;&nbsp;(c) considering whether the provision of permitted non-audit
services is compatible with maintaining the accountant's independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Consider the opinions of management and the internal accounting staff in connection with the foregoing responsibilities. The Committee shall present its conclusions with respect to the independent accountants to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Monitor the rotation required by Section 10A(j) of the Exchange Act of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible for reviewing the audit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Oversee compliance with the following guidelines relating to the Company's hiring of employees or former employees of the independent accountants:

&nbsp;&nbsp;&nbsp;&nbsp;(a) no member of the audit team that is auditing the Company
can be hired by the Company in a financial reporting oversight role (as defined in the SEC's Regulation S-X) for a period of one
(1) year following association with that audit; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company's Chief Financial Officer shall report
annually to the Committee the profile of the preceding year's hires from the independent accountants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10. Consider the effect on the Company of:

&nbsp;&nbsp;&nbsp;&nbsp;(a) any changes in accounting principles or practices proposed
by management or the independent accountants;

&nbsp;&nbsp;&nbsp;&nbsp;(b) any changes in service providers, such accountants, that
could impact the Company's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) any changes in schedules (such as fiscal or tax year-end
changes) or structures or transactions that require special accounting activities, services or resources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Review any presentations or reports prepared by the independent accountants with respect to any applicable Federal tax matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Annually review a formal written statement from the independent accountants delineating all relationships between the independent accountants and the Company, consistent with applicable requirements and standards of the SEC and the PCAOB, and discuss with the independent accountants their methods and procedures for ensuring independence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Evaluate the efficiency and appropriateness of the services provided by the independent accountants, including any significant difficulties with the audit or any restrictions on the scope of their activities or access to required records, data and information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Interact with the independent accountants, including reviewing and, where necessary, resolving any problems or difficulties the independent accountants may have encountered in connection with the annual audit or otherwise, any management letters provided to the Committee and the Company's responses. Such review shall address any difficulties encountered in the course of the audit work, including any restrictions on the scope of activities or access to required information, any disagreements that have arisen between management and the independent accountants regarding financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Review with the independent accountants the effect of regulatory and accounting initiatives, as well as off-balance sheet structures, on the financial statements of the Company.

FINANCIAL STATEMENTS AND DISCLOSURE MATTERS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Review and discuss with management and the independent accountants the annual audited financial statements, including disclosures made in management's discussion and analysis of financial condition and results of operations, and recommend to the Board whether the audited financial statements should be included in the Company's Annual Report on Form 10-K.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Review and discuss with management and the independent accountants the Company's quarterly financial statements, including disclosures made in management's discussion and analysis of financial condition and results of operations, prior to the filing of its Quarterly Reports on Form 10-Q, including the results of the independent accountants' reviews of the quarterly financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Review with the Company's Chief Executive Officer, Chief Financial Officer and independent accountants, the adequacy and effectiveness of the Company's and its subsidiaries' internal control over financial reporting and review periodically, but in no event less frequently than quarterly, management's conclusions about the effectiveness of such internal control over financial reporting, including any significant deficiencies and material weaknesses in, or material non-compliance with, such internal control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Review with the Company's Chief Executive Officer, Chief Financial Officer and independent accountants, the adequacy and effectiveness of the Company's and its subsidiaries' disclosure controls and procedures and review periodically, but in no event less frequently than quarterly, management's conclusions about the effectiveness of such disclosure controls and procedures, including any significant deficiencies in, or material non- compliance with, such controls and procedures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. Review disclosures made to the Committee by the Company's Chief Executive Officer and Chief Financial Officer, or persons performing similar roles, during their certification process for the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q concerning any significant deficiencies in the design or operation of disclosure controls and procedures and, when applicable, internal control over financial reporting, or material weaknesses in such control, and any fraud involving management or other employees who have a significant role in the Company's disclosure controls and procedures and internal control over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. Review and discuss the types of information to be disclosed and the types of presentation to be made in connection with earnings releases by the Company and its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. Review and discuss the types of financial and non-financial information and earning guidance to be provided to analysts and ratings agencies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. Meet with the Company's independent accountants at least four times during each fiscal year, including private meetings, and review written materials prepared by the independent accountants, as appropriate. At these meetings, the Committee shall:

&nbsp;&nbsp;&nbsp;&nbsp;(a) review the arrangements for and the scope of the annual audit
and any special audits or other special permissible services;

&nbsp;&nbsp;&nbsp;&nbsp;(b) review the Company's financial statements and to discuss
any matters of concern arising in connection with audits of such financial statements, including any adjustments to such statements recommended
by the independent accountants or any other results of the audits;

&nbsp;&nbsp;&nbsp;&nbsp;(c) consider and review, as appropriate and in consultation with
the independent accountants, the appropriateness and adequacy of the Company's financial and accounting policies, internal control
over financial reporting and, as appropriate, the internal controls of key service providers, and to review management's responses
to the independent accountants' comments relating to those policies, procedures and controls, and to take any necessary action
in light of material control deficiencies;

&nbsp;&nbsp;&nbsp;&nbsp;(d) review with the independent accountants their opinions as
to the fairness of the financial statements; and

&nbsp;&nbsp;&nbsp;&nbsp;(e) review and discuss quarterly reports from the independent
accountants relating to: (1) all critical accounting policies and practices to be used; (2) all alternative treatment of financial information
within GAAP that have been discussed with management, ramifications of the use of such alternative disclosures and treatments and the
treatment preferred by the independent accountants; and (3) other material written communications between the independent accountant
and management, such as any management letter or schedule of unadjusted differences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24. Prepare the report required by the SEC to be included in the Company's public filing.

COMPLIANCE OVERSIGHT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25. Administer the following procedures relating to the receipt, retention and treatment of complaints received by the Company regarding questionable accounting, internal accounting controls over financial reporting or auditing matters, and the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters:

&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall forward to the Committee any complaints
or concerns that it has received regarding questionable financial statement disclosures, accounting, internal accounting controls or
auditing matters;

&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company shall establish and publish on its website an
e-mail address for receiving anonymous complaints or concerns related to questionable financial statement disclosures, accounting, internal
accounting controls or auditing matters, provided that the Company may engage the services of a third-party service provider to receive
such complaints on behalf of the Company via telephone, email or other appropriate method;

&nbsp;&nbsp;&nbsp;&nbsp;(c) any employee of the Company may submit, on a confidential,
anonymous basis if the employee so desires, any concerns regarding questionable financial statement disclosures, accounting, internal
accounting controls or auditing matters by setting forth such concerns in writing and forwarding them in a sealed envelope to the Chairman
of the Committee, such envelope to be labeled with a legend such as "To be opened by the Committee only" (employees may deposit
such envelope in the Company's internal mail system or deliver it by hand to a member of the Committee and if an employee would
like to discuss any matter with the Committee, the employee should indicate this in the submission and include a telephone number at
which he or she might be contacted if the Committee deems it appropriate);

&nbsp;&nbsp;&nbsp;&nbsp;(d) the Committee shall review and consider any such complaints
and concerns that it has received and take any action that it deems appropriate in order to respond thereto;

&nbsp;&nbsp;&nbsp;&nbsp;(e) the Committee may request special treatment for any complaint
or concern, including the retention of outside counsel or other advisors; and

&nbsp;&nbsp;&nbsp;&nbsp;(f) the Committee shall retain any such complaints or concerns
for a period of no less than five (5) years.

The Committee shall annually reassess the effectiveness of the procedures described immediately above and modify them as necessary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26. The Committee will be designated as and serve as the Qualified Legal Compliance Committee for the Company in accordance with the provisions of Section 307 of Sarbanes-Oxley Act of 2002. Upon receipt of a report of evidence of a material legal violation, the Committee will notify the Board of such report, investigate and recommend appropriate measure to the Board. If the Company does not appropriately respond, the Committee may take further appropriate action, including notification to the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27. Review with management or any external counsel as the Committee considers appropriate, any legal matters (including the status of pending litigation) that may have a material impact on the Company and any material reports or inquiries from regulatory or governmental agencies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28. Review with management the adequacy and effectiveness of the Company's procedures to ensure compliance with its legal and regulatory responsibilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29. Oversee compliance with the Company's Code of Ethics and Business Conduct.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30. Discuss with management, the independent accountants, outside counsel, as appropriate, and, in the judgment of the Committee, such special counsel, separate accounting firm and other consultants and advisors as the Committee deems appropriate, any correspondence with regulators or governmental agencies and any published reports which raise material issues regarding the Company's financial statements, accounting policies or internal control over financial reporting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31. Obtain reports from management, the internal or external auditor or internal or external audit service provider, as the case may be, and the independent auditor regarding compliance with applicable legal and regulatory requirements.

OVERSIGHT OF COMPANY'S INTERNAL AND EXTERNAL AUDIT FUNCTION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32. The internal and external auditor or internal and external audit service provider, as the case may be, shall report periodically to the Committee regarding any significant deficiencies in the design or operation of the Company's and its subsidiaries' internal control over financial reporting, material weaknesses in the internal control over financial reporting and any fraud (regardless of materiality) involving persons having a significant role in the internal control over financial reporting, as well as any significant changes in internal control over financial reporting implemented by management during the most recent reporting period of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33. Discuss with management, the internal and external auditor or internal and external audit service provider, as the case may be, and the independent accountant the Company's major risk exposures (whether financial, operations or both) and the steps management has taken to monitor and control such exposures, including the Company's risk assessment and risk management policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34. With respect to any internal and external audit services that may be outsourced, engage, evaluate and terminate internal and external audit service providers and approve fees to be paid to such internal and external audit service providers.

FINANCIAL OVERSIGHT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35. Review and approve decisions by the Company and its subsidiaries to enter into derivative transactions (including, but limited to, swaps, put and call options or combinations thereof, caps, floors, collars, and forward or spot exchanges) and related matters, as appropriate, as well as non-cleared swaps that are exempt from the clearing and trade execution requirements established under applicable federal law, rules and regulations, including swaps that are entered into in reliance upon the "end-user exceptions" to the mandatory execution and clearing requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act and related regulations. The Committee may review and approve swap transactions submitted to it by management on (a) an individual transaction basis or (b) a blanket basis, with respect to all non-cleared swaps that are exempt from the federal clearing and trade execution requirements, which approval must be reviewed at least annually.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36. Periodically review, at least on an annual basis, or more often (particularly in the event of a material change in hedging strategy) and approve the Company's policies for the use of swaps that are entered into in reliance upon the end-user exceptions.

OTHER

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37. Prepare the disclosure required by Item 407(d)(3)(i) of Regulation S-K.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38. Report its activities to the Board on a regular basis and to make such recommendations with respect to the matters described above and other matters as the Committee may deem necessary or appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39. Perform an annual self-evaluation of the Committee's performance and annually review and reassess the adequacy of and, if appropriate, propose to the Board, any desired changes in, this Charter, all to supplement the oversight authority by the Nominating and Corporate Governance Committee with respect to such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40. The Committee shall have such further responsibilities as are given to it from time to time by the Board. The Committee shall consult, on an ongoing basis, with management, the independent accountants and counsel as to legal or regulatory developments affecting its responsibilities, as well as relevant tax, accounting and industry developments.

The foregoing list of duties is not exhaustive, and the Committee may, in addition, perform such other functions as may be necessary or appropriate for the performance of its duties.

V. <u>ADDITIONAL RESOURCES.</u> 

The Committee shall have the right to use reasonable amounts of time of the Company's independent accountants, outside lawyers and other internal staff and also shall have the right to hire independent experts, lawyers and other consultants to assist and advise the Committee in connection with its responsibilities. The Committee shall also be given the resources, as determined by the Committee, for payment of (i) compensation to any registered independent public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company, (ii) compensation to any independent experts, lawyers and other consultants hired to assist and advise the Committee in connection with its responsibilities, and (iii) ordinary administrative expenses of the Committee that are necessary or appropriate in carrying out its duties. The Committee shall keep the Company's Chief Financial Officer advised as to the general range of anticipated expenses for outside consultants, and shall obtain the concurrence of the Board in advance for any expenditures.

VI. <u>AMENDMENTS.</u> 

Any amendments to this Charter must be approved or ratified by a majority vote of the Company's Board, including a majority of independent directors.

Adopted by the Board of Directors on July 14, 2025.

## Exhibit 99.3

**Exhibit 99.3**

**COLLAB Z INC.** 

**COMPENSATION COMMITTEE CHARTER**

**I.**  **<u>PURPOSE.</u>** 

The Compensation Committee (the "**Committee**") is established by the Board of Directors (the "**Board**"**)** of Collab Z Inc. (the "**Company**"). The purpose of the Committee is to assist the Board in fulfilling its oversight responsibilities related to the Company's compensation structure and compensation, including equity compensation, and other remunerations paid by the Company.

The Committee has overall responsibility for (i) reviewing and approving the remuneration of the Company's Chief Executive Officer, Chief Financial Officer and any other executive officers that serve in executive officer capacities for the Company, (ii) evaluating and making recommendations to the Board regarding the compensation of the directors of the Company; (iii) evaluating and making recommendations to the Board regarding equity-based and incentive-compensation plans, policies and programs that are subject to Board approval; and (iv) the fulfillment of the other responsibilities set out herein.

**II.**  **<u>MEMBERSHIP, STRUCTURE AND QUALIFICATIONS.</u>** 

<u>Membership and Structure</u>. The Committee shall consist of two (2) or more independent directors. The Committee members shall be elected annually by the Board, upon the recommendation of the Nominating and Corporate Governance Committee, for terms of one (1) year, or until their successors shall be duly elected and qualified.

<u>Qualifications</u>. All Committee members shall meet all applicable independence requirements of Nasdaq and applicable rules and regulations of the U.S. Securities and Exchange Commission (the "**SEC**"). In addition, each member of the Committee also shall satisfy all requirements necessary from time to time to be "non-employee directors" under Rule 16b-3 of the Exchange Act of 1934, as amended.

<u>Chairman</u>. Unless the Chairman of the Committee (the "**Chairman**"**)** is elected by the full Board, the Committee members may designate a Chairman consistent with any recommendation of the Nominating and Corporate Governance Committee.

<u>Resignation, Removal and Replacement</u>. Any director may resign from the Committee at any time upon notice of such resignation to the Company. An independent director who ceases to be independent under Nasdaq requirements shall promptly resign to the extent required for the Company to comply with applicable laws, rules and regulations. The Board shall have the power at any time to remove a member of the Committee with or without cause, to fill all vacancies, and to designate alternate members, upon the recommendation of the Committee, to replace any absent or disqualified members, so long as the Committee shall at all times have at least three (3) members and be composed solely of independent board members.

**III.**  **<u>MEETINGS AND OTHER ACTIONS.</u>** 

All meetings of and other actions by the Committee shall be held and taken pursuant to the bylaws of the Company (as may be amended from time to time, the "**Bylaws**"), including provisions governing notice of meetings and waiver thereof, the number of Committee members required to take action at meetings and by written consent, and other related matters. The Committee may invite any director who is not a member of the Committee, management, counsel, representatives of service providers or other persons to attend meetings and provide information as the Committee, in its sole discretion, considers appropriate.

Unless otherwise authorized by the Board, the Committee shall not delegate any of its authority to any subcommittee.

**IV.**  **<u>GOALS, RESPONSIBILITIES AND AUTHORITY.</u>** 

The following are the general goals, responsibilities and authority of the Committee and are set forth only for its guidance. The Committee, however, may diverge from these responsibilities and/or may assume such other responsibilities as the Board may delegate from time to time and/or as the Committee may deem necessary or appropriate from time to time in performing its functions in accordance with the Bylaws and other governance documents of the Company and with applicable law (it being understood that the Committee may condition its approval of any compensation on Board ratification to the extent so required to comply with applicable tax law).

Nothing in this Charter shall be interpreted as diminishing or derogating the duties, responsibilities or obligations of the Board. Subject to the requirements of the Bylaws, the Committee shall:

EXECUTIVE COMPENSATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Review from time to time, modify if necessary, and approve the Company's corporate goals and objectives relevant to compensation and the Company's executive compensation structure and compensation range to ensure that it is designed to achieve the objectives of rewarding the Company's executive officers appropriately for their contributions to corporate growth and profitability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Evaluate the Chief Executive Officer's performance in light of such goals and objectives and, either as a Committee or together with the other independent directors (as directed by the Board), determine and approve the Chief Executive Officer's compensation based on this evaluation. The Chief Executive Officer may not be present during voting or deliberations on his or her compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Upon the engagement of and annually thereafter, determine and approve the compensation paid to the Company's Chief Financial Officer and any other executive officers that serve in executive officer capacities for the Company.

DIRECTOR COMPENSATION

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Select peer groups of companies that shall be used for purposes of determining competitive director compensation packages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Periodically evaluate and make recommendations to the Board concerning the reimbursement of directors' expenses, if any, for attendance of each meeting of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Periodically evaluate and make recommendations to the Board concerning the total compensation package for directors including, without limitation, the annual retainer fee, the meeting fee, incentives, equity-based compensation and other benefits paid to directors, taking into account the compensation of directors at selected peer groups of companies. The Committee shall recommend to the Board any adjustments in director compensation that the Committee considers appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7. Recommend to the Board the terms and awards of any stock compensation for members of the Board.

LONG-TERM INCENTIVE PLANS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8. Approve all long-term incentive awards for the executive officers of the Company and its subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Periodically evaluate (and approve any proposed amendments to) the terms and administration of the Company's and its subsidiaries' annual and long-term incentive plans to assure that they are structured and administered in a manner consistent with the Company's and its subsidiaries' goals and objectives as to participation in such plans, target annual incentive awards, corporate financial goals, actual awards paid to the executive officers of the Company's subsidiaries, and total funds reserved for payment under the compensation plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Determine when it is necessary (based on advice of counsel) or otherwise desirable: (a) to modify, discontinue or supplement any such plans; or (b) to submit such amendment or adoption to a vote of the full Board and/or the Company's stockholders to the extent required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Evaluate and make recommendations to the Board concerning the adoption of any new equity-based and incentive-compensation plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Oversee the administration of any equity incentive plans of the Company in accordance with their terms, construe all terms, provisions, conditions and limitations of such plan and make factual determinations required for the administration of such plans. The Committee may amend or terminate such plans at any time, subject to the terms of the plans.

COMPENSATION ADVISERS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. In its sole discretion, retain or obtain the advice of a compensation consultant, independent legal counsel or other adviser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Have the direct responsibility for the appointment, compensation and oversight of the work of any compensation consultant, independent legal counsel or other adviser retained by the Committee. The Company must provide for appropriate funding, as determined by the Committee, for payment of reasonable compensation to a compensation consultant, independent or legal counsel that is not independent or any other adviser retained by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Prior to retaining or obtaining any compensation consultant, independent legal counsel or other adviser (other than in-house legal counsel), the Committee must conduct an independence assessment of such compensation consultant, legal counsel or other adviser, including the consideration of all relevant factors to that person's independence from management. Such factors include, but are not limited to, the following: (a) the provision of other services to the Company by the person that employs the compensation consultant, legal counsel or other adviser; (b) the amount of fees received from the Company by the person that employs the compensation consultant, legal counsel or other adviser, as a percentage of the total revenue of the person that employs the compensation consultant, legal counsel or other adviser; (c) the policies and procedures of the person that employs the compensation consultant, legal counsel or other adviser that are designed to prevent conflicts of interest; (d) any business or personal relationship of the compensation consultant, legal counsel or other adviser with a Committee member; (e) any stock of the Company owned by the compensation consultant, legal counsel or other adviser; and (f) any business or personal relationship of the compensation consultant, legal counsel, other adviser or the person employing the adviser with an executive officer of the Company. Only after the Committee has considered the preceding independence factors, the Committee may select or receive advice from any compensation advisor they prefer, including those who are not independent. The Committee is not required to conduct any independence assessment if, pursuant to Regulation S-K Item 407, disclosure of the engagement of such compensation consultant, legal counsel or other adviser is not required.

OTHER

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Fulfill any disclosure, reporting or other requirements imposed on or required of the Committee by the SEC, Nasdaq or other applicable laws, rules and regulations, as the forgoing may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17. Review organizational and staffing matters with respect to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18. Prepare the disclosure required by Item 407(e)(5) of Regulation S-K.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Grant the right to receive indemnification and right to be paid by the Company the expenses incurred in defending any proceeding in advance to its disposition, to any employees in their capacity as officer, director employee or agent of the Company, any of directors the Company and any of the Company's and its subsidiaries' executive officers to the fullest extent of the provisions of the Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. Perform an annual self-evaluation of the Committee's performance and annually review and reassess the adequacy of and, if appropriate, propose to the Board, any desired changes in, the Committee's Charter, all to supplement the oversight authority by the Nominating and Corporate Governance Committee with respect to such matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. Perform such other duties and responsibilities as may be assigned to the Committee, from time to time, by the Board of the Company and/or the Chairman of the Board, or as designated in plan documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. Make regular reports to the Board and propose any necessary action to the Board. Such reports shall provide information with respect to any delegation of authority by the Committee to the Company and its subsidiaries' executive officers or to a third party.

The foregoing list of duties is not exhaustive, and the Committee may, in addition, perform such other functions as may be necessary or appropriate for the performance of its duties.

**V.**  **<u>ADDITIONAL RESOURCES.</u>** 

Subject to the approval of the Board, the Committee shall have the right to use reasonable amounts of time of the Company's independent accountants, outside lawyers and other internal staff to assist and advise the Committee in connection with its responsibilities. The Committee shall keep the Company's Chief Financial Officer informed as to the general range of anticipated expenses for outside consultants.

**VI.**  **<u>AMENDMENTS.</u>** 

Any amendments to this Charter must be approved or ratified by a majority vote of the Company's Board, including a majority of independent directors.

Adopted by the Board of Directors on July 14, 2025.

## Exhibit 99.4

**Exhibit 99.4**

**COLLAB Z INC.**

**NOMINATING AND CORPORATE GOVERNANCE COMMITTEE CHARTER**

**I.**  **<u>PURPOSE.</u>** 

The Nominating and Corporate Governance Committee (the "**Committee**") is appointed by the Board of Directors (the "**Board**") of Collab Z Inc., (the "**Company**"). The purpose of the Committee is to assist the Board in fulfilling its oversight responsibility to assure that the Company is governed in a manner consistent with the interests of the Company's stockholders and in compliance with applicable laws, regulations, rules and orders.

The Committee has overall responsibility for: (i) identifying and evaluating individuals qualified to become members of the Board by reviewing nominees for election to the Board submitted by stockholders and recommending to the Board director nominees for each annual meeting of stockholders and for election to fill any vacancies on the Board, (ii) advising the Board with respect to Board organization, desired qualifications of Board members, the membership, function, operation, structure and composition of committees (including any committee authority to delegate to subcommittees), and self-evaluation and policies, (iii) advising on matters relating to corporate governance, in each case subject to the requirements of the bylaws of the Company (as may be amended from time to time, the "**Bylaws**") and monitoring developments in the law and practice of corporate governance, and (iv) approving any related party transactions.

II. <u>MEMBERSHIP, STRUCTURE AND QUALIFICATIONS.</u> 

<u>Membership and Structure</u>. The Committee shall consist of three (3) or more directors, with at least two of the members being independent directors. The Committee members shall be elected annually by the Board, upon the recommendation of the Committee, for terms of one (1) year, or until their successors shall be duly elected and qualified.

<u>Qualifications</u>. All Committee members shall meet all applicable independence requirements of Nasdaq and applicable rules and regulations of the U.S. Securities and Exchange Commission (the "**SEC**").

<u>Chairman</u>. Unless the Chairman of the Committee (the "**Chairman**") is elected by the full Board, the Committee members may designate a Chairman consistent with any recommendation of the Committee.

<u>Resignation, Removal and Replacement</u>. Any director may resign from the Committee at any time upon notice of such resignation to the Company. An independent director who ceases to be independent under Nasdaq requirements shall promptly resign to the extent required for the Company to comply with applicable laws, rules and regulations. The Board shall have the power at any time to remove a member of the Committee with or without cause, to fill all vacancies, and to designate alternate members, upon the recommendation of the Committee, to replace any absent or disqualified members, so long as the Committee shall at all times have at least three (3) members and be composed solely of independent board members.

III. <u>MEETINGS AND OTHER ACTIONS.</u> 

All meetings of and other actions by the Committee shall be held and taken pursuant to the Bylaws, including provisions governing notice of meetings and waiver thereof, the number of Committee members required to take actions at meetings and by written consent, and other related matters. The Committee may invite any director who is not a member of the Committee, management, counsel, representatives of service providers or other persons to attend meetings and provide information as the Committee, in its sole discretion, considers appropriate.

Unless otherwise authorized by the Board, the Committee shall not delegate any of its authority to any subcommittee.

In the event that the Committee's Chairman is unable to perform any of his or her functions or obligations hereunder, the Chairman of the Company's Compensation Committee is hereby authorized and directed to act in the place and stead of the Chairman of this Committee and fulfill any and all functions or obligations that would otherwise be the responsibility of the Chairman of this Committee, without any further action or authorization by this Committee.

IV. <u>GOALS, RESPONSIBILITIES AND AUTHORITY.</u> 

The following are the general goals, responsibilities and authority of the Committee and are set forth only for its guidance. The Committee, however, may diverge from these responsibilities and/or may assume such other responsibilities as the Board may delegate from time to time and/or as the Committee may deem necessary or appropriate from time to time in performing its functions in accordance with the Bylaws and other governance documents of the Company with applicable law.

Nothing in this Charter shall be interpreted as diminishing or derogating the duties, responsibilities or obligations of the Board. Subject to the requirements of the Bylaws, the Committee shall:

NOMINATING DIRECTORS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Evaluate periodically the desirability of and recommend to the Board any changes in the size and composition of the Board or the qualifications for Board membership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Select and evaluate nominated directors, nominated either by the Board or the stockholders, in accordance with the general and specific considerations set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General Considerations</u>*.* The Board shall be comprised of at least enough independent directors to comply with Nasdaq requirements as well as applicable rules and regulations of the SEC (each such independent director, an "**Independent Director**" and collectively, the "**Independent Directors**"). In making its recommendations, the Committee may consider some or all of the following factors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the candidate's judgment, skill, experience with other organizations of comparable purpose, complexity and size, and subject to similar legal restrictions and oversight;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2. the interplay of the candidate's experience with the experience of other Board members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. the extent to which the candidate would be a desirable addition to the Board and any committee thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. whether or not the person has any relationships that might impair his or her independence, including, but not limited to, business, financial or family relationships with the Company's management; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. the candidate's ability to contribute to the effective management of the Company, taking into account the needs of the Company and such factors as the individual's experience, perspective, skills and knowledge of the industries in which the Company's subsidiaries operate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Specific Considerations</u>. In addition to the foregoing general considerations, the Committee shall develop, reevaluate at least annually and modify as appropriate a set of specific considerations outlining the skills, experiences (whether in business or in other areas such as public service, academia or scientific communities), particular areas of expertise, specific backgrounds, and other characteristics for which there is a specific need on the Board and which would enhance the effectiveness of the Board and its committees given its current composition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Evaluate each new director candidate and each incumbent director before recommending that the Board nominate or re-nominate such individual for election or reelection (or that the Board elect such individual on an interim basis) as a director based upon the extent to which such individual satisfies the general criteria above and will contribute significantly to satisfying the overall mix of specific criteria identified above. Each annual decision to re-nominate an incumbent director should be based upon a careful consideration of such individual's contributions, including the value of his or her experience as a director of the Company, the availability of new director candidates who may offer unique contributions and the Company's changing needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Seek to identify potential director candidates who will strengthen the Board and will contribute to the overall mix of considerations identified above. This process should include establishing procedures for soliciting and reviewing potential nominees from directors and stockholders and for notifying those who suggest nominees of the outcome of such review. The Committee shall have sole authority to retain and terminate any third-party search firms to be used to identify director candidates, including sole authority to approve any such search firm's fees and other terms of retention.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Submit to the Board the candidates for director to be recommended by the Board for election at each annual meeting of stockholders and to be added to the Board at any other times due to any expansion of the Board, director resignations or retirements or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. In the event of a vacancy on the Board, following determination by the Board that such vacancy shall be filled, identify candidates for director qualified to fill such vacancy that satisfies the general criteria above.

BOARD OF DIRECTORS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Monitor performance of the Board and its individual members based upon the general criteria and the specific criteria applicable to the Board and each of its members. If any serious issues are identified with any director, work with such director to resolve such issues or, if necessary, seek such director's resignation or recommend to the Board such person's removal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8. Review director compensation process, self-evaluation and policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Develop and periodically evaluate initial orientation guidelines and continuing education guidelines for each member of the Board and each member of each committee thereof regarding his or her responsibilities as a director generally and as a member of any applicable committee of the Board, and monitor and evaluate annually (and at any additional time a new member joins the Board or any committee thereof).

BOARD COMMITTEES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Review and evaluate at least annually the adequacy of the Committee's own performance and Charter and provide a report on such evaluation and recommended proposed changes to the Charter to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Evaluate at least annually the performance, authority, operations, charter and composition of each standing or *ad hoc* committee of the Board (including any authority of a committee to delegate to a subcommittee) and the performance of each committee member and recommend any changes considered appropriate in the authority, operations, charter, number or membership of each committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Submit to the Board annually (and at any additional times that any committee members are to be selected) recommendations regarding candidates for membership on each committee of the Board.

EVALUATION OF AND SUCCESSION PLANNING FOR EXECUTIVE OFFICERS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13. Assist the Board in evaluating the performance of and other factors relating to the retention of executive

officers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Develop and periodically review and revise as appropriate a management succession plan and related procedures. Consider and recommend to the Board candidates for successor to executive officers.

CORPORATE GOVERNANCE

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Develop, monitor and make recommendations to the Board on matters of Company policies and practices relating to corporate governance, including the Company's corporate governance guidelines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Review and make recommendations to the Board regarding proposals of stockholders that relate to corporate governance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17. Oversee the evaluation of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18. Review and approve any related party transactions.

OTHER MATTERS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. Perform such other duties and responsibilities as may be assigned to the Committee, from time to time, by the Board and/or the Chairman of the Board, or as designated in the Bylaws.

The forgoing list of duties is not exhaustive, and the Committee may, in addition, perform such other functions as may be necessary or appropriate for the performance of its duties.

V. <u>ADDITIONAL RESOURCES.</u> 

Subject to the approval of the Board, the Committee shall have the right to use reasonable amounts of time of the Company's independent accountants, outside lawyers and other internal staff and also shall have the right to hire independent experts, lawyers and other consultants to assist and advise the Committee in connection with its responsibilities. The Committee shall keep the Company's Chief Financial Officer informed as to the general range of anticipated expenses for outside consultants, and shall obtain the approval of the Board in advance for any expenditures.

VI. <u>AMENDMENTS.</u> 

Any amendments to this Charter must be approved or ratified by a majority vote of the Company's Board, including a majority of independent directors.

Adopted by the Board of Directors on July 14, 2025.

## Exhibit 99.5

**Exhibit 99.5**

**Consent to be Named as a Director Nominee**

In connection with the filing by COLLAB Z INC. of the Registration Statement on Form S-1 with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent, pursuant to Rule 438 of the Securities Act, to being named as a nominee to the board of directors of COLLAB Z INC. in the Registration Statement and any and all amendments and supplements thereto. I also consent to the filing of this consent as an exhibit to such Registration Statement and any amendments thereto.

---

| | |
|:---|:---|
| Dated: July 16, 2025 | /s/ *Matt Gordon* |
|  | Matt Gordon |

---

## Exhibit 99.6

**Exhibit 99.6**

**Consent to be Named as a Director Nominee**

In connection with the filing by COLLAB Z INC. of the Registration Statement on Form S-1 with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent, pursuant to Rule 438 of the Securities Act, to being named as a nominee to the board of directors of COLLAB Z INC. in the Registration Statement and any and all amendments and supplements thereto. I also consent to the filing of this consent as an exhibit to such Registration Statement and any amendments thereto.

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| | |
|:---|:---|
| Dated: July 16, 2025 | /s/ *David Kivitz* |
|  | David Kivitz |

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## Exhibit 99.7

**Exhibit 99.7**

**Consent to be Named as a Director Nominee**

In connection with the filing by COLLAB Z INC. of the Registration Statement on Form S-1 with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), I hereby consent, pursuant to Rule 438 of the Securities Act, to being named as a nominee to the board of directors of COLLAB Z INC. in the Registration Statement and any and all amendments and supplements thereto. I also consent to the filing of this consent as an exhibit to such Registration Statement and any amendments thereto.

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| | |
|:---|:---|
| Dated: July 16, 2025 | /s/ Zhe Zhang |
|  | Zhe Zhang |

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## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

**S-1**

(Form Type)

**COLLAB Z INC.** 

(Exact Name of Registrant as Specified in its Charter)

**Table 1: Newly Registered and Carry Forward Securities**

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security<br> Type** | **Security <br> Class<br> Title** | **Fee<br> Calculation<br> or Carry<br> Forward<br> Rule** | **Amount<br> Registered** | **Proposed<br> Maximum<br> Offering<br> Price Per<br> Share** **<sup>(1)</sup>** | **Maximum<br> Aggregate<br> Offering<br> Price** **<sup>(1)</sup>** | **Fee<br> Rate** | **Amount of<br> Registration<br> Fee** |
| Fees to Be Paid | Equity | Common Stock | 457 (o) | 1250000 | $4.00 | $5000000 | 0.00015310 | $765.50 |
| Fees to Be Paid | Equity | Overallotment Option Shares of Common Stock | 457 (o) | 187500 | $4.00 | 750000 | 0.00015310 | 114.83 |
| Fees to Be Paid | Equity | Representative's Warrants | 457 (g) |  | $- | $- |  | $- |
| Fees to Be Paid | Equity | Common Stock underlying Representative Warrant <sup>(2)(3)</sup> | 457 (o) | 57500 | $4.4 | $253000 | 0.00015310 | $38.74 |
| Fees to Be Paid | Equity | Common Stock to be sold by Selling Stockholder | 457 (o) | 100000 | $4.00 | $400000 | 0.00015310 | $61.24 |
| Carry Forward Securities |  |  |  |  |  |  |  |  |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $6403000 |  | $980.31 |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  | - |  | $0 |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  | - |  | - |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $980.31 |

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(1) The registration fee for securities is based on an estimate of the Proposed Maximum Aggregate Offering Price of the securities, assuming the sale of the maximum number of shares at the highest expected offering price, and such estimate is solely for the purpose of calculating the registration fee pursuant to Rule 457(o).

(2) (3) Reflects the additional shares that the underwriter has the option to purchase to cover over-allotments, if any. No additional registration fee is payable pursuant to Rule 457(g) under the Securities Act.