# EDGAR Filing Document

**Accession Number:** 0001785493
**File Stem:** 0001641172-25-020156
**Filing Date:** 2025-7
**Character Count:** 52449
**Document Hash:** fba026c3c0684cc9b3ed38dcb35d43ce
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-020156.hdr.sgml**: 20250718

**ACCESSION NUMBER**: 0001641172-25-020156

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250718

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250718

**DATE AS OF CHANGE**: 20250718

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Phoenix Plus Corp.
- **CENTRAL INDEX KEY:** 0001785493
- **STANDARD INDUSTRIAL CLASSIFICATION:** CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 611907981
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-233778
- **FILM NUMBER:** 251133265

**BUSINESS ADDRESS:**
- **STREET 1:** 2-3 & 2-5 BEDFORD BUSINESS PARK
- **STREET 2:** JALAN 3/137B, BATU 5, JALAN KELANG LAMA
- **CITY:** KUALA LUMPUR
- **STATE:** N8
- **ZIP:** 58200
- **BUSINESS PHONE:** 85281200914

**MAIL ADDRESS:**
- **STREET 1:** 2-3 & 2-5 BEDFORD BUSINESS PARK
- **STREET 2:** JALAN 3/137B, BATU 5, JALAN KELANG LAMA
- **CITY:** KUALA LUMPUR
- **STATE:** N8
- **ZIP:** 58200

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (date of earliest event reported):**

**July 18, 2025**

**<u>PHOENIX PLUS CORP.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **333-233778** | **61-1907931** |
| (State <br> of incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

---

**2-3 & 2-5 BEDFORD BUSINESS PARK, JALAN 3/137B, BATU 5, JALAN KELANG LAMA, 58200 KUALA LUMPUR, MALAYSIA**

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: <u>(+603) 7971 8168</u>

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered under Section 12(b) of the Exchange Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered:** |
| Common Stock, par value $0.0001 | PXPC | OTC Markets – Pink Sheets |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01. Entry into a Material Definitive Agreement**

On July 15, 2025, Phoenix Plus Corp., a Nevada company (the "Company"), as the purchaser entered into a software purchase agreement (the "Software Purchase Agreement") with SunRay Equity Group Limited, a company incorporated in British Virgin Island (the "Seller"), as the seller, with respect to a SolarPulse Monitor, as described more particularly therein (the "Software").

Pursuant to the Software Purchase Agreement, the Company agreed to acquire from the Seller all of the rights, title, and interests in the Software for consideration of an aggregate of 480,000 ordinary shares (per share price of US$2.00) of the Company with an aggregate value of US$960,000 (the "Consideration Shares"). Pursuant to the Software Purchase Agreement and the Company, the Consideration Shares will be issued to the Seller on a completion date as may be agreed upon among the Company and the Seller.

The Software Purchase Agreement and the transactions contemplated thereby were approved and authorized by the board of directors of the Company on July 15, 2025.

**Item 9.01 Financial Statements and Exhibits.**

---

| | |
|:---|:---|
| **Exhibit <br> Number** | **Description** |
| 10.1 | [Software Purchase Agreement, among Phoenix Plus Corp. and SunRay Equity Group Limited, dated January 15, 2025](ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | Phoenix Plus Corp. | Phoenix Plus Corp. |
|  | (Name of Registrant) | (Name of Registrant) |
| Date: July 18, 2025 | By: | */s/ Lee Chong Chow* |
|  | Name: | Lee Chong Chow |
|  | Title: | Chief Executive Officer |
|  |  | (President, Secretary, Treasurer, Director) |

---

## Exhibit 10.1

**Exhibit 10.1**

Dated July 15, 2025

**SOFTWARE PURCHASE AGREEMENT**

AMONG

**SUNRAY EQUITY GROUP LIMITED**

**(Registration No. 2181544)**

**(THE "SELLER")**

AND

**PHOENIX PLUS CORP**

**(ENTITY No. E0517742018-6)**

**(THE "PURCHASER")**

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| **CONTENTS** | **CONTENTS** | **PAGE** |
| **1.** | **Definitions and Interpretation** | **1** |
| **2.** | **SALE AND PURCHASE OF SOFTWARE** | **4** |
| **3.** | **PURCHASE CONSIDERATION OF SOFTWARE** | **5** |
| **4.** | **COMPLETION OF SALE AND PURCHASE OF SOFTWARE** | **6** |
| **5.** | **REPRESENTATIONS AND WARRANTIES** | **6** |
| **6.** | **INDEMNIFICATION** | **8** |
| **7.** | **DURATION AND TERMINATION OF AGREEMENT** | **8** |
| **8.** | **SPECIFIC PERFORMANCE** | **9** |
| **9.** | **FURTHER ASSURANCE** | **9** |
| **10.** | **TAXES** | **9** |
| **11.** | **CONFIDENTIALITY** | **9** |
| **12.** | **NOTICES** | **10** |
| **13.** | **RIGHTS AND REMEDIES** | **11** |
| **14.** | **FORCE MAJEURE** | **11** |
| **15.** | **AMENDMENTS AND WAIVERS** | **11** |
| **16.** | **ASSIGNMENT** | **12** |
| **17.** | **SUCCESSORS AND ASSIGNS** | **12** |
| **18.** | **NO AGENCY** | **12** |
| **19.** | **ENTIRE AGREEMENT** | **12** |
| **20.** | **TIME** | **12** |
| **21.** | **COST AND EXPENSES** | **12** |
| **22.** | **INVALIDITY AND SEVERABILITY** | **13** |
| **23.** | **COUNTERPARTS AND E-SIGNATURES** | **13** |
| **24.** | **GOVERNING LAW AND JURISDICTION** | **13** |
| **SCHEDULE 1 software specificationS** | **SCHEDULE 1 software specificationS** | **15** |

---

i

**THIS AGREEMENT** is made on July 15, 2025 among:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(1)** **SunRay Equity Group Limited (Registration No.2181544)**, a company incorporated in British Virgin Island with its registered address at Wickhams Cay
 1, Road Town, Tortola, British Virgin Islands (the "Seller");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(2)** **PHOENIX PLUS CORP (Entity No. E0517742018-6)**, a company incorporated in Nevada with its
 registered address at 2-3 & 2-5 Bedford Business Park, Jalan 3/137b, Batu 5, Jalan Kelang Lama, 58200 Kuala Lumpur, Malaysia
 (the "**Purchaser** "); and

(the Seller and the Purchaser are, collectively, the "**Parties**" and, individually, a "**Party**").

**Whereas:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(A)** As at the date of this
 Agreement, the Seller is the legal and beneficial owner of the Software (as defined below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(B)** The Seller has agreed to
 sell to the Purchaser, and the Purchaser has agreed to purchase from the Seller, the Software upon the terms and subject to the conditions
 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(C)** The Parties agree to assume
 the obligations imposed on them under this Agreement.

**It is agreed** as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **Definitions and Interpretation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1.** In this Agreement, unless
 the subject or context otherwise requires, the following words and expressions shall have the following meanings respectively ascribed
 to them:

"**Affiliate**" means, with respect to any person, any other person directly or indirectly controlling, controlled by, or under common control with, such person;

"**Agreement**" means this software purchase agreement;

"**Business Day**" means a day on which banks are open for business and is not a Saturday, Sunday, a "public holiday" or a "bank holiday" in Malaysia;

"**Completion**" means the completion of the sale and purchase of the Software pursuant to **Clause 4**;

"**Completion Date**" means the date on which the Consideration Shares are issued to the Seller pursuant to **Clause 3.2** of this Agreement, or such other date as may be agreed upon between the Parties upon which Completion is to take place;

"**Encumbrances**" means (a) any mortgage, charge (whether fixed or floating), pledge, lien, hypothecation, assignment, deed of trust, security interest or other encumbrance of any kind securing, or conferring any priority of payment in respect of, any obligation of any person, including any right granted by a transaction which, in legal terms, is not the granting of security but which has an economic or financial effect similar to the granting of security under the Law, (b) any voting agreement, interest, option, right of first offer, refusal or transfer restriction in favour of any person and (c) any adverse claims as to title, possession or use;

"**Governmental Authority**" means any relevant governmental or quasi-governmental authority, statutory authority or quasi-statutory or regulatory authority, administrative, monetary, fiscal or judicial body, department, commission, authority, tribunal, agency or stock exchange or taxing authority or anybody entitled to exercise executive power or power of any nature or body or other organisation to the extent that the rules, regulations, standards, requirements, procedures or orders of such authority, body or other organisation have the force of Law;

"**Good Industry Practice**" means the exercise of that degree of skill, care, prudence, efficiency, foresight and timeliness as would be expected from a leading company within the relevant industry or business sector;

"**Intellectual Property Rights**" means patents, utility models, rights to inventions, copyright and neighbouring and related rights, trademarks and service marks, business names and domain names, rights in get-up and trade dress, goodwill and the right to sue for passing off or unfair competition, rights in designs, database rights, rights to use, and protect the confidentiality of, confidential information (including know-how and trade secrets), and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted, renewals or extensions of, and rights to claim priority from, such rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world;

"**Laws**" shall mean and include all applicable statutes, enactments, acts of legislature or Parliament, laws, ordinances, rules, by-laws, regulations, notifications, guidelines, policies, directions, directives and orders of any Governmental Authority, tribunal, board or court of competent jurisdiction;

"**Parties**" means collectively, the Seller, the Purchaser, and "**Party**" means any of them;

"**Purchaser**" means **PHOENIX PLUS CORP (Entity No. E0517742018-6)**, a company incorporated in the Nevada with its registered address at 2-3 & 2-5 Bedford Business Park, Jalan 3/137b, Batu 5, Jalan Kelang Lama, 58200 Kuala Lumpur, Malaysia;

"**Seller**" means **SUNRAY EQUITY GROUP LIMITED (Registration No. 2181544),** a company incorporated in British Virgin Island with its registered address at Wickhams Cay 1, Road Town, Tortola, British Virgin Islands;

"**Software**" means "*SolarPulse Monitor*", as more specifically described in the Software Specifications and all updates, upgrades, releases and versions including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the source code and object
 code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all other works or materials
 recorded or embodied in the Software, including the audio or visual content in any screen-displays in the user interface;

"**Software Deliverables**" has the meaning ascribed to it in **Clause 4.1**;

"**Software Documentation**" means all and any documents (whether in human or machine-readable form) relating to the Software, including all:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) operating manuals, user
 instruction manuals and training materials; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) documents associated with
 the creation, design, development or modification of the Software, including technical or functional specifications, flow charts,
 algorithms, architectural diagrams, data models, build instructions, testing or configuration documents and technical data;

"**Software Specifications**" means the specifications of the Software as set out in **Schedule 1**;

"**Software Trade Secret**" means any scientific or technical information, design, process, procedure, formula, or improvement included in the Software that is valuable, not generally known in the industry, and gives the owner of the Software a competitive advantage over those competitors who do not know or use such information;

"**Tangible Software Assets**" means all physical or tangible embodiments of the Software, including all object code and source code of the Software;

"**Tax**" means all forms of taxation, whether direct or indirect and whether levied by reference to income, profits, gains, net wealth, asset values, turnover, added value or other reference and statutory, governmental, state, provincial, local governmental or municipal impositions, duties, contributions, rates and levies, whenever and wherever imposed (whether imposed by way of withholding or deduction for or on account of tax or otherwise) and in respect of any person and all penalties, charges, costs and interest relating thereto; and

"**Tax Authority**" means any taxing or other authority competent to impose any liability in respect of Tax or responsible for the administration and/or collection of Tax or enforcement of any Law in relation to Tax.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.** Unless the context otherwise
 requires, in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.1.** any reference to a statute
 or statutory provision is a reference to it as it is in force from time to time, taking account of any change, extension, consolidation
 or re-enactment and includes any subordinate legislation for the time being in force made under it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.2.** any and all headings contained
 in this Agreement are for convenience only and do not affect the interpretation of any provision of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.3.** references to any gender
 shall include the other genders and references to the singular shall include the plural and vice versa and references to natural
 persons shall include bodies corporate and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.4.** any reference to a person
 which for the purposes of this Agreement means any individual, corporation, partnership, association, limited liability company,
 trust, Governmental Authority or body or other entity or organisation (whether or not having a separate legal personality) shall
 include its successors in title;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.5.** all obligations and liabilities
 on the part of the Parties are (unless expressly stated otherwise) several and shall be construed accordingly;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.6.** any reference to "**day** ",
 "**week** ", "**month**" or "**year**" is a reference to a day, week, month or year respectively
 in the Gregorian calendar;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.7.** any phrase introduced by
 the terms "**including** ", "**include**" or any similar expression shall be construed as illustrative
 and shall not limit the sense of the words preceding those terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.8.** references to "**writing** ",
 or cognate expressions, include any communication effected electronically, by telex, cable, facsimile transmission or other comparable
 means of communication;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.9.** any reference to an agreement
 (including this Agreement), contract or document is a reference to such agreement, contract or document as the same may be amended,
 restated or replaced from time to time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2.10.** references to this Agreement
 include any Recitals and Appendices to it and references to Clauses, Recitals and Appendices are to the clauses, recitals and appendices
 to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.3.** If any period of time is
 specified from a given day, or the day of a given act or event, it is to be calculated exclusive of that day and if any period of
 time falls on a day which is not a Business Day, then that period is to be deemed to only expire on the next Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.4.** The Recitals to this Agreement
 shall have effect and be construed as an integral part of this Agreement, but in the event of any conflict or discrepancy between
 any of the provisions of this Agreement, such conflict or discrepancy shall, for the purposes of the interpretation and enforcement
 of this Agreement, be resolved by giving the provisions contained in the Clauses of this Agreement priority and precedence over the
 provisions contained in the Recitals to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.5.** No provision of this Agreement
 will be construed adversely to a Party solely on the ground that the Party was responsible for the preparation of this Agreement
 or that provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **SALE AND PURCHASE OF SOFTWARE** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1.** The Seller agrees to sell
 to the Purchaser, and the Purchaser agrees to purchase from the Seller the Software on the terms and subject to the conditions of
 this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.** In connection with the
 sale of the Software, the Seller hereby absolutely transfers, grants, conveys, assigns and relinquishes in favour of the Purchaser
 all of its rights (including all Intellectual Property Rights), title and interests in and to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.1.** the Software;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.2.** the Software Documentation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.3.** the Software Trade Secret;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.4.** the Tangible Software Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3.** The Software shall be sold
 by the Seller to the Purchaser free and clear from all Encumbrances and with full legal and beneficial title and the Seller further
 agrees to waive any moral rights that the Seller may have with respect to the Software in favour of the Purchaser.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **PURCHASE CONSIDERATION OF SOFTWARE** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.** **Purchase Consideration** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.1.** The sale and purchase consideration
 for the Software is  **<u>United States Dollar Fifteen Million and Five Hundred Thousand (USD 960,000.00)</u>** only (the "**Purchase Consideration** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.2.** The Parties agree that
 the Purchase Consideration shall be satisfied by way of allotment and issuance to the Seller of <u>480,000</u> new ordinary shares
 of the Purchaser at the issue price of USD 2.00 per ordinary share ()"**Consideration Shares** "), the total value of
 which is equivalent to the Purchase Consideration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.** **Issuance of Consideration Shares** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.1.** Notwithstanding Clause
 3.1.2 above, the Seller hereby instructs and authorises the Purchaser to allot and issue the Consideration Shares directly to the
 Seller. The Seller agrees that it shall not assign its right or entitlement to receive the Consideration Shares to any third party,
 and no separate deed of assignment shall be required for such issuance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.2.** Subject to receipt by the
 Purchaser of the Software Deliverables in accordance with **Clause 4.1** below, the Consideration Shares shall be issued by the
 Purchaser to the Seller on the Completion Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.3.** The Consideration Shares
 shall be issued free from all Encumbrances and with full legal and beneficial title.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2.4.** The Parties agree and acknowledge
 that issuance of the Consideration Shares by the Purchaser to the Seller on the Completion Date shall constitute a full and final
 discharge of the Purchaser's payment obligation in respect of the Purchase Consideration under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.** **COMPLETION OF SALE AND PURCHASE OF SOFTWARE** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.** On the Completion Date,
 the Seller shall deliver, or procure delivery to the Purchaser of, or make available to the Purchaser all physical and/or digital
 copies (as applicable) of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.1.** the Software;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.2.** the Software Documentation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.3.** the Software Trade Secret;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.4.** the Tangible Software Assets;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.5.** such other documents and
 instruments in relation to any of the aforesaid as the Purchaser may request,

(collectively, the "**Software Deliverables**") and any and all digital files of the Software Deliverables shall be delivered by the Seller to the Purchaser in a structured, commonly used and machine-readable format.

The Purchaser may, at its sole discretion, waive all or any of the Software Deliverables unless it is mandatorily required by Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2.** Upon receipt by the Purchaser
 of the Software Deliverables, the Purchaser shall issue the Consideration Shares to the Seller pursuant to **Clause 3.2** above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.** **REPRESENTATIONS AND WARRANTIES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.** Each Party represents and
 warrants to and for the benefit of the other Parties that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.1.** it has the full power,
 authority and capacity to execute, deliver and lawfully perform the terms of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.2.** all necessary actions,
 conditions and things have been or will be taken, fulfilled and done (including the obtaining of any necessary consents) in order
 to enable it to lawfully exercise its rights and perform and comply with its obligations under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.3.** this Agreement will when
 executed constitute legally valid and binding obligations on it, enforceable in accordance with their respective terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.4.** the execution, delivery
 and performance of this Agreement will not exceed the power granted to it or violate the provisions of any Law or any order or decree
 of any Governmental Authority, agency or court to which it is subject to;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.5.** there are no pending or
 threatened actions or proceedings before any court or administrative tribunal which may materially and adversely affect its ability
 to discharge its obligations under this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1.6.** in negotiating and executing
 this Agreement, it has at all times sought and followed the advice of competent legal counsel and, based on that advice, has entered
 into this Agreement based on its own free will.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.** The Seller hereby represents
 and warrants to and for the benefit of the Purchaser that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.1.** it is the sole legal and
 beneficial owner of the Software, free and clear from any Encumbrances whatsoever, with good and marketable title;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.2.** it has not licensed or
 assigned any part of the Software to any third party in any part of the world;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.3.** there is no violation,
 infringement or misappropriation or likely violation, or misappropriation of the Software;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.4.** the exploitation of the
 Software will not infringe the rights (including Intellectual Property Rights) of any third party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.5.** the Software contains nothing
 that is defamatory or indecent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.6.** except for the Purchaser
 and certain employees of the Seller (all of whom are subject to an enforceable obligation of confidentiality), the Software Trade
 Secret has not been disclosed to any person, firm or company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.7.** complete and accurate particulars
 of the Software are set out in the Software Specifications;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.8.** the Seller has exclusive
 possession and control of all source code relating to the Software and there has been no unauthorised disclosure of such source code
 (which will, following Completion, be in the exclusive possession or control of the Purchaser);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.9.** the Software:

&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) is functioning properly
 in accordance with all applicable specifications (including the Software Specifications);

&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) is not defective in any
 material respect and has not been defective or failed to function during the last two (2) years;

&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) has been developed in accordance
 with Good Industry Practice;

&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) has been operated and used
 substantially in accordance with the Software Documentation; 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) meets all applicable legal
 or regulatory requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.10.** the Software Documentation
 includes sufficient user and technical information reduced to writing and in a commonly readable format so as to enable reasonably
 skilled personnel of the Purchaser to use, operate and maintain the Software without the need for reference to any other documents
 or further assistance from any person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.11.** all information and documents
 delivered to the Purchaser in connection with this Agreement are true, accurate and complete in all respects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.12.** it has disclosed fully
 and frankly any and all circumstances that may be reasonably deemed to have a material influence on the Purchaser's decision
 to purchase the Software; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2.13.** it will not, as a consequence
 of entering into or performing this Agreement, be in breach of any terms binding upon it of any contract, agreement, undertaking,
 or arrangement with, or any obligation to, any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3.** All representations and
 warranties given by the respective Parties expressed in this **Clause 5** are true, correct and not misleading at the time of
 execution of this Agreement and shall be deemed to be repeated and continue to be true, correct and not misleading on Completion
 as if they had been given afresh on Completion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.** **INDEMNIFICATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1.** Without prejudice to any
 other right or remedy which the Purchaser may have against the Seller, the Seller undertakes to indemnify, defend and hold harmless
 the Purchaser and their respective Affiliates, directors, employees, advisers, agents and representatives from and against any and
 all actions, claims, demands, proceedings, investigations, liabilities or judgments and any and all losses, damages, costs, charges
 and expenses (including all reasonable legal fees and expenses) of whatever nature which relates to or arises, directly or indirectly,
 in connection with or arising out of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1.1.** any breach by the Seller
 of its obligations under this Agreement and/or the warranties given by the Seller under **Clause 5** above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1.2.** any breach by the Seller
 of any applicable Laws; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1.3.** any claims involving fraud
 or misconduct involving dishonesty on the part of the Seller and/or misrepresentation which results in a breach of the warranties
 given by the Seller under **Clause 5** above or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.** **DURATION AND TERMINATION OF AGREEMENT** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1.** This Agreement shall come
 into effect from the date of this Agreement and shall, unless otherwise terminated in accordance with this **Clause 7**, continue
 in full force and effect until all the obligations of the Parties under this Agreement are fully carried out.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2.** This Agreement may be terminated
 at any time by the unanimous agreement of the Parties, subject to the condition that such agreement to terminate is made in writing
 and consented to by all Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.** **SPECIFIC PERFORMANCE** 

Notwithstanding any provisions of this Agreement, each Party shall be at liberty to take such action in Law or in equity as may be necessary to compel the other Parties by way of specific performance to complete the transactions contemplated in this Agreement (in which respect the alternative remedy of monetary compensation shall not be regarded as compensation or sufficient compensation for any default of the other Parties in the performance of the terms and conditions herein) or to claim damages for the breach of the other Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.** **FURTHER ASSURANCE** 

The Seller shall give all such assistance and information to the Purchaser and execute and do and procure all other necessary persons, if any, to execute and do all such further acts, deeds, assurance and things as may be required by the Purchaser from time to time in order to carry out, evidence and perform the Parties' obligations and the intended purpose of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.** **TAXES** 

The Seller shall be fully responsible to pay any and all Taxes arising out of or in connection with this Agreement which may be imposed on the Seller by the relevant Tax Authority. For the avoidance of doubt, the Purchaser shall not be responsible nor obligated to pay any Taxes which are imposed on the Seller.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.** **CONFIDENTIALITY** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.** All communications among
 the Parties and all information and other materials supplied to or received, by any Party, from the other Parties which is either
 marked "**confidential**" or is by its nature intended to be exclusively for the knowledge of the recipient alone,
 or to be used by the recipient only for the benefit of this Agreement, coming to the knowledge of the recipient shall be kept confidential
 by the recipient and shall be used by the recipient solely and exclusively for the benefit of this Agreement unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.1.** the disclosure or use is
 required by Law or any Governmental Authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.2.** the disclosure or use is
 required to vest the full benefit of this Agreement in any Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.3.** the disclosure or use is
 required for the purpose of any judicial proceedings arising out of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.4.** the disclosure is made
 to professional advisors of any Party on terms that such professional advisors undertake to comply with the provisions of this **Clause 11** in respect of such information as if they were a party to this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.5.** the information becomes
 publicly available (other than by breach of this Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.6.** the Party whose information
 is to be disclosed or used has given prior written approval to the disclosure or use; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1.7.** the information is independently
 developed by the recipient, which independent development can be shown by written evidence,

provided that prior to disclosure or use of any information pursuant to **Clause 11.1.1, 11.1.2 or 11.1.3**, the Party concerned shall promptly notify the other Parties of such requirement with a view to providing the other Parties with the opportunity to contest such disclosure or use or otherwise to agree on the timing and content of such disclosure or use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2.** The Parties shall procure
 the observance of the abovementioned restrictions and shall take all reasonable steps to minimise the risk of disclosure of confidential
 information, by ensuring that only their employees and professional advisers whose duties will require them to possess any of such
 information shall have access thereto, and that they shall be instructed to treat the same as confidential.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3.** None of the Parties shall
 divulge to any third party any information regarding the existence or subject matter of this Agreement, or any other agreement referred
 to in, or executed in connection with, this Agreement, without the prior agreement of the other Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.4.** The obligations contained
 in this **Clause 11** shall endure, even after the termination of this Agreement, without limit in point of time except and until
 any confidential information enters the public domain as set out above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.** **NOTICES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1.** All notices, demands or
 other communications required or permitted to be given or made hereunder shall be in writing and in English and delivered personally
 or sent by prepaid registered post (by air-mail if to an overseas address) with recorded delivery, or by courier or email addressed
 to the intended recipient thereof at its address or at its email address set out hereunder (or to such other address or email address
 as a Party may from time to time duly notify the other Parties). Any such notice, demand or communication shall be deemed to have
 been duly served (if delivered personally or given or made by email) immediately or (if given or made by registered post or courier)
 forty-eight (48) hours after posting or (if made or given to an overseas address) five (5) Business Days after posting, and in proving
 the same it shall be sufficient to show that personal delivery was made or that the envelope containing such notice was properly
 addressed as a prepaid registered letter or that the email was properly addressed and sent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.** The addresses and email
 addresses of the Parties for the purposes of **Clause 12.1** above are **:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.1.** in the case of service
 on the Seller to:

---

| | | |
|:---|:---|:---|
| Address | : | 7, Jalan Sungai Rincing, 32/63f, Sri Damai, Bukit Rimau, Seksyen 32, 40460 Shah Alam, Selangor, Malaysia |
| Email Address | : | kellyyapp98@gmail.com |
| Attention to | : | Ms. Yap Chin Thong |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.2.** in the case of service
 on the Purchaser to:

---

| | | |
|:---|:---|:---|
| Address | : | 2-3 & 2-5 Bedford Business Park, Jalan 3/137b, Batu 5, Jalan Kelang Lama, 58200 Kuala Lumpur, Malaysia |
| Email Address | : | <u>lock@hkc.ventures</u> |
| Attention to | : | Mr. Ting Wan Lock |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3.** In this **Clause 12**,
 if deemed receipt occurs before 9am on a Business Day, the notice shall be deemed to have been received at 9am on that day, and if
 deemed receipt occurs after 5pm on a Business Day, or on a day which is not a Business Day, the notice shall be deemed to have been
 received at 9am on the next Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.** **RIGHTS AND REMEDIES** 

The rights and remedies provided in this Agreement are cumulative, and are not exclusive of any rights or remedies of the Parties provided at Law, in equity, by statute or otherwise and no failure or delay in the exercise or the partial exercise of any such right or remedy or the exercise of any other right or remedy shall affect or impair any such right or remedy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.** **FORCE MAJEURE** 

Notwithstanding anything herein contained, none of the Parties will be liable to the other Parties for any breach or failure to perform any of its obligations under this Agreement where such breach or failure is caused directly or indirectly by war, civil commotion, hostilities, strikes, lockouts, pandemic, acts of God, governmental regulations or directions or the action or omission or purported action or omission of any Governmental Authority, or any other cause or causes beyond that Party's reasonable control, whether similar to any of the foregoing or not, but if any Party is or is likely to be, affected by any such cause it will immediately notify the other Parties of the occurrence of the relevant event and will use all reasonable endeavours to overcome or mitigate the effects thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.** **AMENDMENTS AND WAIVERS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.1.** No amendment, variation,
 revocation, cancellation, substitution or waiver of, or addition or supplement to, any of the provisions of this Agreement will be
 effective unless it is in writing and signed by all the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.2.** No waiver of any breach
 of any provision of this Agreement will be effective or binding unless made in writing and signed by the Party purporting to give
 the same and, unless otherwise provided in the written waiver, will be limited to the specific breach waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.** **ASSIGNMENT** 

Unless otherwise specified in this Agreement, none of the Parties shall be entitled to transfer or otherwise assign its rights and obligations under this Agreement to a third party without the prior written consent of the other Parties and any assignment, transfer or delegation which is made without such prior written approval shall constitute a breach of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.** **SUCCESSORS AND ASSIGNS** 

This Agreement will be binding upon and inure for the benefit of the respective heirs, personal representatives, successors-in-title or permitted assigns, as the case may be, of the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.** **NO AGENCY** 

Nothing in this Agreement is intended to or shall operate to create a partnership, or to authorise any Party to act as agent for the other Parties or to establish any other fiduciary relationship between the Parties. No Party has the power or the right to bind, commit or pledge the credit of the other Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19.** **ENTIRE AGREEMENT** 

This Agreement constitutes the entire agreement and full understanding among the Parties hereto with respect to all of the matters herein and it supersedes any previous negotiations, discussions, correspondence, arrangements, agreements and understandings among them, oral or written, with respect to the matters addressed herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.** **TIME** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.1.** Time shall be of the essence
 in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20.2.** No time or indulgence given
 by any Party to the other shall be deemed or in any way construed as a waiver of any of its rights and remedies hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21.** **COST AND EXPENSES** 

Purchaser shall bear all the legal and other professional costs and expenses incurred by it in the negotiation and preparation of this Agreement and any other agreements or documents entered into or signed under or in connection with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.** **INVALIDITY AND SEVERABILITY** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.1.** If any provision of this
 Agreement is or may become invalid or unenforceable under any written Law, or is found by any court or administrative body or competent
 jurisdiction to be, illegal, void, invalid, prohibited or unenforceable then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.1.1.** such provision shall be
 ineffective to the extent of such illegality, voidness, invalidity, prohibition or unenforceability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.1.2.** the remaining provisions
 of this Agreement shall remain in full force and effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22.1.3.** the Parties shall use their
 respective best endeavours to negotiate and agree on a substitute provision which is valid and enforceable and achievable to the
 greatest extent possible the economic, legal and commercial objectives of such illegal, void, invalid, prohibited or unenforceable
 term, condition, stipulation, provision, covenant or undertaking.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.** **COUNTERPARTS AND E-SIGNATURES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.1.** This Agreement may be executed
 in separate counterparts, each of whom shall together be deemed an original, but all such counterparts shall together constitute
 but one and the same Agreement of the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23.2.** This Agreement, may be
 accepted, executed or agreed to, through the use of an electronic signature, whether digital or encrypted, in accordance with the
 applicable Laws. Any document accepted, executed or agreed to in conformity with such Law will be binding on each party and shall
 have the same legal effect, validity or enforceability as if it were physically executed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24.** **GOVERNING LAW AND JURISDICTION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24.1.** This Agreement shall be
 governed by, and construed in accordance with, the Laws of Malaysia.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24.2.** The Parties irrevocably
 agree that the courts of Malaysia are to have exclusive jurisdiction to settle any disputes which may arise out of or in connection
 with this Agreement and that, accordingly, any legal action or proceedings arising out of or in connection with this Agreement shall
 be brought in those courts and the Parties irrevocably submit to the jurisdiction of those courts.

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This Agreement has been entered into on the date stated at the beginning.

**<u>THE SELLER</u>**

---

| | |
|:---|:---|
| Signed<br> for and on behalf of<br> **SUNRAY EQUITY GROUP LIMITED**<br> **(Registration No. 2181544)** | <br>*/s/ Yap Chin Thong* |
|  | Name: Yap Chin Thong<br> Designation: Director |

---

**<u>THE PURCHASER</u>**

---

| | |
|:---|:---|
| Signed<br> for and on behalf of<br> **PHOENIX PLUS CORP**<br> **(Entity No. E0517742018-6)** | <br>*/s/ Lee Chong Chow* |
|  | Name: Lee Chong Chow<br> Designation: Director |

---

**SCHEDULE 1**

**SOFTWARE SPECIFICATIONS**

The Software is owned by the Company and is free from any Encumbrance whatsoever.

The Software provides the following features:

SolarPulse Monitor is an advanced solar monitoring platform designed with a scalable, secure, and real-time architecture. It integrates data acquisition, processing, analytics, and visualization to deliver actionable insights for solar asset management.

**Key System Components**

● Data Acquisition & Processing: Securely collects data from solar hardware via IoT protocols; processes real-time streams with fault-tolerant pipelines.

● Analytics Engine: Combines historical and real-time analysis with machine learning for predictive insights and anomaly detection.

● Visualization & Alerts: Interactive dashboards and multi-channel notifications ensure intuitive user interaction and timely responses.

● Security & Infrastructure: Enterprise-grade encryption, containerized microservices, and Kubernetes-based cloud or on-premise deployment ensure robust performance and flexibility.

**Core Features**

● Real-Time Adaptation: Dynamic polling, conditional sensor activation, bandwidth optimization, and edge/cloud load balancing.

● Self-Tuning Analytics: Auto-optimizes queries, computational resources, and algorithm selection based on data behavior.

● Context-Aware Intelligence: Incorporates environmental, temporal, user, and system contexts for predictive maintenance, root cause analysis, and optimization recommendations.

● Performance Optimization: Distributed processing, adaptive compression, caching, and progressive rendering ensure responsiveness at scale.

● Multi-Character Interface: AI-driven digital assistants (e.g., analytics, maintenance, financial, technical personas) enhance user experience through conversational interfaces and personalized dashboards.

**Technical Requirements**

● Technology Stack: JavaScript front-end, scalable back-end with asynchronous support, time-series and relational databases, machine learning with TensorFlow/PyTorch, Kafka/RabbitMQ, and OAuth2.0 authentication.

● Deployment Models: Supports cloud-native, hybrid, on-premises, and multi-region installations.

● System Compatibility: Designed for modern browsers, reliable network connectivity, and standard server/edge hardware specs.

**Integration Capabilities**

● Integrates with major hardware vendors, weather services, ERP/CRM systems, financial platforms, and third-party IoT platforms. Includes REST API and support for standard data export formats.

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