# EDGAR Filing Document

**Accession Number:** 0001471781
**File Stem:** 0001731122-25-001179
**Filing Date:** 2025-8
**Character Count:** 42954
**Document Hash:** d2a4d23f9ec704d9b85d1f3af9a5efa9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001731122-25-001179.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001731122-25-001179

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250825

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

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250828

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GBT Technologies Inc.
- **CENTRAL INDEX KEY:** 0001471781
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 270603137
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-54530
- **FILM NUMBER:** 251275464

**BUSINESS ADDRESS:**
- **STREET 1:** 2500 BROADWAY SUITE F125
- **CITY:** SANTA MONICA
- **STATE:** CA
- **ZIP:** 90404
- **BUSINESS PHONE:** 424-238-4589

**MAIL ADDRESS:**
- **STREET 1:** 2500 BROADWAY SUITE F125
- **CITY:** SANTA MONICA
- **STATE:** CA
- **ZIP:** 90404

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Gopher Protocol Inc.
- **DATE OF NAME CHANGE:** 20150225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Forex International Trading Corp.
- **DATE OF NAME CHANGE:** 20090908

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

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported): August 25, 2025

**GBT TECHNOLOGIES INC.**

(Exact name of small business issuer as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Nevada** | **000-54530** | **27-0603137** |
| (State or other jurisdiction of incorporation or organization) | Commission File Number | (I.R.S. Employer Identification No.) |

---

**<u>8557 N West Knoll Dr. West Hollywood CA 90069</u>**

(Address of principal executive offices) (Zip code)

Registrant's telephone number including area code: **888-685-7336**

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 (see General Instructions 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))

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

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. ☐

Securities registered pursuant to Section 12(b) of the Act: Not applicable.

Title of each class Trading Symbol Name of each exchange on which registered <br> Not applicable.

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

On August 25, 2025, GBT Technologies Inc. (the "Company") and GBT Tokenize Corp. ("TOKENIZE") entered into a Strategic Joint Venture Agreement (the "Agreement") with VisionWave Holdings, Inc. ("VWAV") and with AIPHEX LTD ("AIPHEX). Pursuant to the Agreement, the parties agreed to form a joint venture limited liability company in the State of Nevada (the "JV LLC") for the purpose of collaborating on certain designated defense and technology projects (the "Designated Projects and Background IP"). The Designated Projects and Background IP are set forth in a separate confidential letter agreement between the Company and AIPHEX due to their sensitive and confidential nature.

Under the terms of the Agreement, the JV LLC will be owned approximately as follows:

● 46.76% by the VWAV,

● 46.76% by AIPHEX,

● 6.08% by TOKENIZE, and

● 0.40% by GBT.

These ownership percentages are based on an estimated internal value of $5,000,000,000 for equity allocation purposes, with the parties waiving the need for formal valuation solely for this allocation and shall not be constructed as a valuation of AIPHEX or its assets for any other purpose. TOKENIZE will contribute to the JV 897,102 shares of the Company's common stock and its intellectual property portfolio (as detailed in Exhibit A to the Agreement, on an estimated internal value of $295,000,000 for equity allocation purposes - as detailed in Exhibit B to the Agreement). GBT will contribute to the JV 2,020,500 shares of the Company's common stock. AIPHEX will contribute the Designated Projects and Background IP. VWAV and AIPHEX will each enter into non-exclusive license agreements granting the JV LLC rights to use certain of their respective intellectual property portfolios and products solely for the Designated Projects and Background IP (the "JV License Agreements"). The JV LLC will serve as the exclusive vehicle for marketing, manufacturing, delivering, and managing the Designated Projects, including research, development, commercialization, and related activities. The parties will adopt an operating agreement for the JV LLC within 30 days of the effective date. Intellectual property developed by the JV LLC will be owned by the JV LLC, with restrictions on use and transfer. Both AIPHEX and VWAV contribute the Designated Projects (DP) to the JV and each will enter into the JV License Agreements. The Agreement includes non-circumvention provisions, confidentiality obligations, and termination rights, including a provision that the Agreement becomes void and considerations returned if no revenue is generated from the Designated Projects within 12 months of establishing the JV LLC. The term of the Agreement is seven years, subject to renewal. The Agreement also provides for a referral fee to a non-affiliated third party, consisting of 700,000 shares of the Company's common stock (to be assigned from shares contributed to the JV LLC and which will not be issued by the Company in any manner) and 2% of future JV LLC revenue based on actual collections.

The transactions contemplated by the Agreement are subject to customary closing conditions, including obtaining necessary regulatory approvals (such as CFIUS clearance, export control licenses, and other governmental consents). The parties intend to consummate the contributions and operationalize the JV LLC upon execution of the operating agreement and satisfaction of such conditions.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. Certain portions of the Agreement, including details of the Designated Projects, are confidential and have not been disclosed herein due to their sensitive nature.

**Item 9.01 Financial Statements and Exhibits.**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1+ | [Strategic Joint Venture Agreement, dated August 25, 2025, by and among VisionWave Holdings, Inc., AIPHEX LTD, GBT Tokenize Corp., and GBT Technologies, Inc.](e6812_ex10-1.htm) |

---

+ Portions of this exhibit have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K.

**SIGNATURES**

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

---

| | | |
|:---|:---|:---|
|  | **GBT TECHNOLOGIES INC.** | **GBT TECHNOLOGIES INC.** |
|  | By: | /s/ Michael Murray |
|  | Name: | Michael Murray |
|  | Title: | CEO |
| Date: August 28, 2025 |  |  |

---

## Exhibit 10.1

**EXHIBIT 10.1**

**PURSUANT TO ITEM 601(b)(10)(iv) OF REGULATION S-K, THIS EXHIBIT OMITS CERTAIN INFORMATION, IDENTIFIED BY [\*\*\*], THAT IS NOT MATERIAL AND THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.**

STRATEGIC JOINT VENTURE AGREEMENT

This Strategic Joint Venture Agreement (this "Agreement") is entered into as of August 25, 2025 (the "Effective Date"), by and among AIPHEX LTD, a corporation organized and existing under the laws of the State of Israel, with its principal place of business at Kineret 5 Street, 5126237 Bnei Brak, Israel ("AIPHEX"), VisionWave Holdings, Inc. (Nasdaq: VWAV), a Delaware corporation, with its principal place of business at 300 Delaware Ave., Suite 210 # 301, Willington, DE 19801, USA ("VWAV"), GBT Tokenize Corp ("TOKENIZE") a Nevada corporation with its principal place of business at 8557 N West Knoll Dr., West Hollywood CA 90069 and GBT Technologies, Inc. ("GBT") a Nevada corporation with its principal place of business at 8557 N West Knoll Dr., West Hollywood CA 90069.

RECITALS

WHEREAS, AIPHEX is engaged in the research, development, manufacturing, and commercialization of advanced radar systems, defense technologies, and other related products and services;

WHEREAS, VWAV is engaged in the global defense industry, including the advancement, integration, and deployment of defense-related projects, products, and strategic solutions;

WHEREAS, TOKENIZE is the owner of 897,102 VWAV shares of common stock ("TOKENIZE'S VWAV SHARES") representing approximately 6.29% of VWAV's outstanding shares of common stock, as well as an intellectual property portfolio detailed on **Exhibit A** to this Agreement ("TOKENIZE'S IP PORTFOLIO");

WHEREAS, GBT is 50% co-owner of TOKENIZE, as well as the owner of 2,020,500 VWAV shares of common stock representing approximately 14.16% of VWAV's outstanding shares of common stock ("GBT'S VWAV SHARES");

WHEREAS, AIPHEX, VWAV, TOKENIZE and GBT (individually, a "Party" and collectively, the "Parties") have aligned strategic, technological, and commercial objectives, and desire to leverage their respective expertise, resources, and market presence, along with TOKENIZE'S IP PORTFOLIO;

WHEREAS, the Parties wish to collaborate on certain identified technologies and products and future defense and technology projects;

WHEREAS, the list of designated projects that will be contributed by AIPHEX to the JV have been set forth on a separate, confidential letter agreement executed by VWAV and AIPHEX due to its high security level and confidential nature of such projects ("Designated Projects" or "DP"),

WHEREAS, to formalize such collaboration through the formation of a joint venture entity (the "Joint Venture" or "JV"), subject to the terms and conditions set forth herein, each party to this Agreement maintains its own independent business operations, products, customers, and strategic initiatives outside the scope of this Joint Venture);

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and intending to be legally bound, the Parties agree as follows:

THE JV

1. AIPHEX is actively engaged in the research, invention,
and development of various defense initiatives, including but not limited to the Designated Projects. The Designated Projects form a
critical part of AIPHEX's core intellectual property portfolio and ongoing defense innovation pipeline, and may include future
enhancements, iterations, or derivative technologies.

VWAV is actively engaged in the research, development and commercialization of defense systems, including but not limited to advanced Drones, kinetic systems and artificial intelligence. The above forms a critical part of VWAV's core intellectual property portfolio and ongoing defense innovation pipeline, and may include future enhancements, iterations, or derivative technologies.

2. Clarification of Independent Operations: For the avoidance of doubt, each party to this Agreement
maintains its own independent business operations, products, customers, and strategic initiatives outside the scope of this Joint Venture.
This Agreement does not create, and shall not be construed as creating, a general partnership, merger, or broader business combination
between the Parties. The collaboration is strictly limited to the specifically identified Designated Projects. These Designated Projects
represent mutually defined areas of cooperation and do not conflict with, replace, or otherwise alter the separate and ongoing business
activities of either party.

3. The Parties hereby agree to establish the JV for the purpose of marketing, manufacturing,
delivering, overseeing, managing, and directing all aspects of the Designated Projects. Such activities shall include, without limitation,
the research, development, design, testing, certification, manufacturing, production, distribution, marketing, commercialization, and
ongoing operations of the Designated Projects and any related or derivative technologies mutually agreed upon by the Parties.

4. The JV shall be formed as limited liability company in the State of Nevada (the "JV
LLC") and serve as the exclusive vehicle through which the Parties will collaborate with respect to the Designated Projects, unless
otherwise expressly agreed in writing by both Parties. The estimate internal value (where the parties explicitly wave the needs of any
valuation) for equity allocations is based on USD $5,000,000,000. This waiver of valuation is solely for the purpose of allocating the
equity of the JV and shall not be construed as a valuation of AIPHEX or its assets for any other purpose. The JV LLC shall be owned (see
key allocations set forth on **Exhibit B** to this Agreement):

6.08% by TOKENIZE<br> 0.40% by GBT<br> 46.76% by AIPHEX<br> 46.76% by VWAV

The Parties will adopt an operating agreement for the JV LLC within 30 days of the Effective Date. Upon entering into the operating agreement, the Parties shall enter into the Share Exchange (as defined below) and upon transfer of the securities contemplated by the Share Exchange, the JV LLC will be in effect and operational.

5. All product related business development activities and project management functions related
to the Designated Projects shall be conducted exclusively by, and through, the JV LLC. The Parties expressly agree that neither Party,
nor any of their respective affiliates, shall independently undertake, initiate, or engage in any such business development, project
management, or related activities and products and technologies with respect to the Designated Projects outside the framework of the
JV without the prior written consent of the other Party.

6. For the avoidance of doubt, this exclusivity obligation shall apply to all aspects of the
Designated Projects, including any future iterations and enhancements. Exclusivity shall apply only to the specific Designated Projects
set forth on a separate, confidential letter agreement executed by VWAV and AIPHEX, and not to unrelated future innovations or defense
technologies.

THE BUSINESS TRANSACTION

7. The Parties acknowledge and agree that the establishment of the JV LLC is intended to strategically position the JV, and by extension each Party, to capture significant value and expand their collective presence within the global defense and technology markets. The Parties further recognize that the JV's integrated resources, expertise, and combined market relationships are expected to enhance competitiveness, accelerate innovation, and increase the likelihood of securing key domestic and international defense contracts.

8. Upon the execution of this Agreement, the relationship between the Parties shall be governed exclusively by the terms and conditions set forth herein, together with any additional terms and agreements that may be mutually agreed upon in writing by the Parties from time to time including as set forth in the operating agreement for the JV LLC. No oral agreements, understandings, or representations not expressly incorporated into this Agreement (or into a duly executed amendment or ancillary agreement) shall be binding upon either Party.

TERMS

9. As part of the contemplated transaction, the Parties in consideration of the membership interest
to be held in the JV LLC shall each make the following contributions to the JV LLC whereby:

TOKENIZE shall contribute to the JV LLC the TOKENIZE'S VWAV SHARES;

GBT shall contribute to the JV LLC the GBT'S VWAV SHARES;

TOKENIZE shall contribute to the JV LLC the TOKENIZE'S IP PORTFOLIO;

AIPHEX shall contribute the Designated Projects to the JV LLC; and

AIPHEX and VWAV will each enter into a nonexclusive license agreement granting the JV LLC a right of use on a nonexclusive basis all of their respective intellectual property portfolio and/or developed algorithms, which license agreements will be signed within 30 days of the Effective Date (the "License Agreements").

10. The Parties agree that the contributions shall be documented through mutually acceptable agreements, if
needed, and that all necessary corporate approvals, regulatory filings, and third-party consents shall be obtained prior to the consummation
of the contributions, as needed, per the equity allocation as agreed between the Parties, which is detailed on **Exhibit B** to this
Agreement.

11. The JV LLC will be raising capital from third parties in order to fund its business activities. TOKENIZE
and GBT will not be required to provide any further contributions or funding other than the TOKENIZE'S IP PORTFOLIO, TOKENIZE'S
VWAV SARES and GBT's VWAV SHARES. If the JV LLC raises additional capital, each Party shall have the right, but not the obligation,
to participate pro rata in such funding round. Any Party that elects not to participate shall be subject to proportional dilution of its
equity interest. TOKENIZE and GBT acknowledge and agree that their equity interests in the JV LLC are subject to dilution in accordance
with this provision.

**Strategic Contribution of AIPHEX & VWAV to JV**

12. The Parties acknowledge that AIPHEX's & VWAV's contribution to the Joint
Venture defined package of strategic assets, intellectual property, executive commitments, including the nonexclusive rights of several
technologies and products that are being signed by the parties as the DP but staying confidential due to their sensitivity and deface
nature or the requirement by governmental bodies or other institutions.

13. The Parties agree that the foregoing contributions represent core inputs to the Designated
Projects and form a material basis for the allocation of equity and joint ownership rights contemplated under this Agreement.

The Parties acknowledge that the value of AIPHEX's & VWAV's contribution is not derived from its stand-alone corporate valuation but from the strategic and technological inputs DP, which are essential to the success of the Designated Projects and are not otherwise available to the JV through independent development or acquisition.

14. AIPHEX and VWAV shall have the right, but not the obligation, to designate one (1) individual to serve
as a member of the board of directors (or equivalent governing body) of the other Party. Any such appointments shall be subject to the
receiving Party's internal corporate governance procedures and applicable law. Until such corporate governance is executed, Dr.
Moshik Cohen will be appointed to VWAV advisory board and Noam Kenig will be appointed as AIPHEX advisory board. Upon both companies'
necessary approvals Dr. Moshik Cohen shall be appointed as a member of the board of directors of VWAV; and Mr. Noam Kenig, on behalf of
VWAV, shall be appointed as a member of the board of directors of AIPHEX. It is disclosed that appointment of Dr. Moshik Cohen to VWAV
board will be required to appoint additional independent director to VWAV board to comply with NASDAQ rules. The Board of Directors of
the JV LLC will appoint managers that will have specific responsibilities to be set forth in JV LLC's operating agreement. TOKENIZE
and GBT will not contribute to the management or governance of the JV LLC and will not make any appointments to the Board of Directors,
advisory board or to management, the operating agreement will specify that only VWAV and AIPHEX to any business or JV decision. Deadlock
Resolution **.** In the event of a deadlock vote by the JV LLC's Board of Directors, the matter shall first be referred to the
CEOs of AIPHEX and VWAV for resolution in good faith within thirty (30) days. If no resolution is reached, the dispute shall be resolved
as the parties will adopt in its operating agreement.

INTELLECTUAL PROPERTY

15. Any and all intellectual property, including but not limited to patents, designs, inventions, software,
data, technical information, and know-how, that is conceived, created, developed, or reduced to practice by the JV LLC in connection with
the Designated Projects (collectively, "Foreground IP") shall be owned by the JV LLC.

16. **Independent Development.** For the avoidance of doubt, any intellectual property developed independently
by a Party outside the scope of the JV LLC, without use of the other Party's Background IP, personnel, or resources, shall remain
the sole property of such Party ("Independent IP"). Nothing in this Agreement shall restrict AIPHEX and VWAV from continuing
to develop, improve, or commercialize its technologies independently of the JV. Only intellectual property created exclusively through
the resources and activities of the JV LLC shall constitute Foreground IP.

17. Pursuant to the License Agreements to be entered into, VWAV and AIPHEX will grant to the JV LLC, a worldwide,
royalty-free, fully paid-up, non-exclusive, non-transferable (except as part of the JV operations) license in form of right of use to
use such Party's pre-existing intellectual property, proprietary technology, trade secrets, know-how, and other intangible rights
(collectively, "Background IP") solely as necessary to support the research, development, testing, certification, deployment,
manufacturing, commercialization, and ongoing support of the Designated Projects. License is granted solely for the purpose of executing
the DP and expires automatically upon termination of this Agreement.

Neither VWAV or AIPHEX may use the other Pary's Background IP for any purpose unrelated to the Designated Projects without the prior written consent of either VWAV or AIPHEX. Foreground IP or Background IP License shall not be sold, licensed, or otherwise transferred to third parties outside the JV without the written consent of both AIPHEX and VWAV.<br>

18. Survival. Upon termination, JV license rights automatically cease, except for limited rights necessary
to fulfill existing customer contracts or customer's commitments or customer's evaluations.

19. The Parties shall ensure that all funds allocated for the Designated Projects are utilized strictly in
accordance with the originally approved budget (as may be amended from time to time with the written consent of both Parties). Each Party
shall be fully responsible for the execution and completion of the specific tasks, work packages, or deliverables assigned to it under
such budget, and shall bear any cost overruns attributable to its own actions or omissions unless otherwise mutually agreed in writing.

20. The JV LLC shall maintain accurate books and records of all expenditures and shall provide periodic financial
and progress reports to the parties of the JV and the other Party in a form and frequency reasonably requested.

21. For any defense contract, whether with the U.S. Department of Defense (U.S. DoD), the Israeli Ministry
of Defense (IMOD), NATO, or any other allied governmental, defense, or security entity, the JV LLC may act as the prime contractor, co-prime
contractor, or lead systems integrator and which involves the Designated Projects, or any derivative or successor technology thereof.

22. The Parties further agree to:

1) Negotiate in good faith any necessary ancillary agreements (e.g., subcontracts or licensing arrangements) to formalize such revenue participation;

2) Ensure transparency in revenue recognition and cost allocation associated with any qualifying contract; and

3) Provide full and accurate accounting of all contract revenues and expenses relevant to the calculation of the participation amount.

4) The JV Budget may be amended only with the written consent of both Parties. Each Party shall ensure that the JV is adequately funded and that its revenue allocations support the ongoing development, commercialization, and sustainment of the DP.

23. Budget: The JV shall operate strictly in accordance with a mutually approved annual operating budget (the
"JV Budget"), which shall outline projected revenues, expenses, capital expenditures, and resource allocations.

24. Regulatory Approvals. The Parties shall cooperate in good faith and with reasonable diligence to obtain
all required governmental and regulatory approvals necessary to consummate the transactions contemplated by this Agreement and to enable
the lawful implementation and operation of the JV LLC. Such approvals shall include, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Short-form clearance from the Committee on Foreign Investment in the United States (CFIUS), in the event of foreign ownership levels falling below twenty-five percent (25%);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Export control licenses, permits, and approvals from the Israeli Ministry of Defense (MOD) and any equivalent regulatory bodies, as may be required in connection with the transfer, development, or commercialization of defense technologies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Any other governmental or regulatory consents, waivers, permits, or clearances required by applicable laws, including those relating to antitrust, export control, import/export restrictions, and national security review.

25. Each Party shall bear its own costs in connection with obtaining such approvals, unless otherwise agreed
in writing. The Parties further agree to promptly provide each other with all necessary information, documentation, and assistance reasonably
required to support any regulatory submissions or inquiries.

26. Lock-Up. All securities issued, contributed, assigned or exchanged pursuant to this Agreement (the "Lock-Up
Shares") shall be subject any legal lock-up period (the "Lock-Up Period"), commencing on the date of issuance, contribution
or assignment. During the Lock-Up Period, none of the Lock-Up Shares may be sold, assigned, transferred, pledged, hypothecated, encumbered,
or otherwise disposed of, whether voluntarily or involuntarily, by operation of law or otherwise, without the prior written consent of
the other Party.

27. Upon expiration of the Lock-Up Period, one hundred percent (100%) of the Lock-Up Shares shall become freely
transferable, provided that any such transfer, sale, or other disposition shall remain subject to compliance with all applicable securities
laws, stock exchange rules, and regulatory requirements.

The Parties further agree that:

1) Any attempted transfer in violation of this clause shall be null and void ab initio; and

2) The Parties shall cooperate in good faith to ensure any permitted transfer post-Lock-Up Period is conducted in full compliance with all applicable legal and contractual restrictions.

NON-CIRCUMVENTION

28. Restriction on Competing Engagements. For a period of three (3) years from the Effective Date, neither
Party shall, directly or indirectly, introduce, represent, engage with, or enter into any agreement or arrangement with any third party
in connection with any of the Projects or related defense technology opportunities that would compete with or undermine the interests
of the other Party or the JV, without the prior written consent of the other Party.

29. Prohibition on Bypassing the JV. Neither Party shall, directly or indirectly, bypass, interfere with,
divert, or otherwise circumvent the JV in connection with any transaction, relationship, or revenue-generating opportunity that arises
from, or is related to, the JV or the DP, including opportunities developed by or through either Party's contacts, resources, or
activities in furtherance of the JV.

30. Scope and Affiliates. These restrictions shall apply to each Party and its Affiliates, officers, directors,
employees, agents, and representatives, and shall cover all entities and individuals with whom the Parties have engaged in connection
with the JV or the DP. These restrictions apply only to Designated Projects and direct derivatives, not to general defense opportunities.

TERM AND TERMINATION

31. This Agreement shall commence on the Effective Date and shall remain in full force and effect for a period
of seven (7) years, unless terminated earlier in accordance with the termination provisions set forth in this Agreement (the "Term").

32. At the expiration of the Term, the Parties may mutually agree in writing to renew or extend this Agreement
on the same or modified terms.

CONFIDENTIALITY

33. Obligation of Confidentiality. Each Party agrees to maintain the strict confidentiality of this Agreement
and all non-public, proprietary, or classified information disclosed or exchanged in connection with the Projects, the JV, its partners,
the Target, and their respective roles (collectively, "Confidential Information"). This confidentiality obligation is a material
term of this Agreement. Parties acknowledge that this agreement will be reported om Form 8-K to be filed with the Security and Exchange
Commission.

34. Defense-Grade Measures. Given the highly sensitive and classified nature of the DP and their clients,
each Party and its directors, officers, employees, agents, contractors, and representatives ("Representatives") shall implement
and maintain the highest level of security protocols, controls, and procedures customary in the defense industry to protect Confidential
Information against unauthorized access, disclosure, or use.

35. Notification of Breach. Each Party shall immediately (and in any event within twenty-four (24) hours of
discovery) notify the other Party of any suspected or actual loss, breach, or unauthorized disclosure of Confidential Information. The
Parties shall cooperate in good faith to mitigate any harm and comply with any regulatory or client reporting obligations arising from
such breach.

36. Permitted Disclosures. Confidential Information may only be disclosed (i) to Representatives who have
a strict need to know for the purposes of fulfilling the Party's obligations under this Agreement and who are bound by equivalent
confidentiality obligations, or (ii) as required by applicable law, regulation, or court order, provided that the disclosing Party gives
prior written notice to the other Party (where legally permissible) and cooperates to seek protective measures.

37. Survival. The obligations set forth in this Section shall survive the termination or expiration of this
Agreement for a period of ten (10) years, or indefinitely in the case of information classified by a government or subject to export control
restrictions.

38. Disclosure and Sharing. Each Party shall promptly disclose and provide a copy of any non-disclosure agreement
(NDA) or other confidentiality obligation (collectively, "Third-Party NDA") that it has entered into in connection with the
JV or any of the Projects to the other Party.

39. Binding Effect. Upon disclosure, both Parties shall be deemed equally bound by the terms and obligations
of any Third-Party NDA, provided that such Third-Party NDA has been expressly approved in writing by both Parties prior to execution.
No Party shall be bound by third-party confidentiality obligations entered into solely by the other Party without such prior approval.

40. Scope of Coverage. The obligations under this Section apply to all Third-Party NDAs entered into with
customers, suppliers, subcontractors, consultants, governmental entities, or any other third party related to the JV or the Projects.

41. Survival. This mutual commitment shall remain in full force and effect for the duration of each Third-Party
NDA and shall survive the termination or expiration of this Agreement to the extent necessary to comply with such Third-Party NDA.

MISCELLANEOUS

42. This Agreement, and any dispute, claim, or controversy arising out of or relating to this Agreement, the
JV, the JV LLC or the DP, shall be governed by and construed in accordance with the laws of the State of California, United States of
America, without giving effect to any choice-of-law or conflict-of-law principles that would cause the laws of any other jurisdiction
to apply.

43. Entire Agreement. This Agreement, together with all schedules, exhibits, and any ancillary agreements
expressly referenced herein, constitutes the entire understanding and agreement between the Parties with respect to the subject matter
hereof and supersedes all prior and contemporaneous negotiations, agreements, representations, warranties, and communications, whether
oral or written, relating to such subject matter.

44. No amendment, modification, or waiver of any provision of this Agreement shall be effective unless made
in writing and duly executed by authorized representatives of both Parties.

45. Amendments. No amendment, modification, or waiver of any provision of this Agreement shall be valid or
binding unless it is made in writing and duly executed by authorized representatives of both Parties. Any such amendment or modification
shall expressly state the intent to amend this Agreement and shall become effective only upon execution by both Parties.

46. Assignment. Neither Party may assign or transfer this Agreement, in whole or in part, without the prior
written consent of the other Party, except that either Party may assign this Agreement without such consent in connection with a merger,
acquisition, or sale of all or substantially all of its assets.

47. Both parties will contribute to the JV their network, experience and capabilities.

48. The IP of each side will be contributed to the JV on a nonexclusive basis and any development by the JV
of any IP will be exclusively to the JV.

49. Dr. Moshik Cohen and Noam Kenig's time commitment to the JV is subject to any other commitments
they have already or may have.

50. Upon the Board of Directors' approval of Dr. Moshik Cohen's appointment to the VWAV Board
of Directors, Dr. Cohen shall be granted a stock option to acquire 2,000,000 shares of VWAV common stock. The grant shall be made pursuant
to the Company's equity incentive plan and in compliance with all applicable legal and regulatory requirements. The terms and conditions
of the options, including exercise price and vesting schedule, shall be consistent with those customarily applied to option grants for
board members of the Company.

51. The Parties also agree that in the event that within a period of 12 months from establish the JV LLC no
project will commence generating revenue from the Designated Projects, this Agreement will be void and all considerations paid or transferred
under this Agreement will be cancelled and returned to its original owner without any compensation to any Party. **Additional Termination Rights.** Either AIPHEX or VWAV may terminate this Agreement upon written notice if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the other Party materially breaches this Agreement and fails to cure such breach within sixty (60) days of written notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the other Party becomes insolvent, makes an assignment for the benefit of creditors, or files for or is subject to bankruptcy proceedings; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any required governmental or regulatory approval necessary for the JV is denied or revoked such that the JV cannot lawfully operate.

52. **Exit Mechanism.** Upon termination, each Party shall have the right to purchase the other Party's
equity interest in the JV LLC at fair market value as determined by an independent valuation firm jointly appointed by the Parties. If
neither Party elects to purchase, the JV LLC shall be dissolved and its assets distributed in accordance with ownership percentages.

53. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. Execution and delivery of this Agreement by electronic
means, including by PDF or other electronic transmission or via a recognized electronic signature platform (e.g., DocuSign), shall be
deemed to have the same legal effect as delivery of an original manually signed counterpart.

54. The Parties acknowledge that this Agreement was the result of the efforts of **[\*\*\*]**, a third referral
party, which (i) has an agreement with AIPHEX regarding the Designated Projects which will be void and terminated upon entering this Agreement
and (ii) actively was involved in all moving parts to conclude this JV and, as such, will be entitled to (a) a referral fee equal to 700,000
VWAV Shares and (b) 2% from any future revenue of the JV based on the actual collection. The referral agreement is acceptable to both
parties and will be executed separately, if needed, between the JV LLC, VWAV AIPHEX and **[\*\*\*]**. The 700,000 VWAV Shares to be paid
to **[\*\*\*]** will be assigned by JV LLC from the shares of common stock contributed by GBT and TOKNIZE into the JV LLC.

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

AIPHEX LTD

By: /s/Dr. Moshik Cohen

Dr. Moshik Cohen, CEO

VISIONWAVE HOLDINGS, INC.

By: /s/ Noam Kenig

Noam Kenig, CEO

GBT TOKENIZE CORP.

By: /s/ Michael Murray

Michael Murray, CEO

GBT Technologies, Inc.

By: /s/ Mansour Khatib

Mansour Khatib, Secretary & Director

EXHIBIT A: TOKENIZE IP PORTFOLIO:

**Patents**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Title** | &nbsp;&nbsp;**App. No.** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Filing Date** | &nbsp;&nbsp;**Status / Deadline** | &nbsp;&nbsp;**Patent No.** | &nbsp;&nbsp;**Issue Date** |
| &nbsp;&nbsp;TRACKING DEVICES, SYSTEMS AND METHODS USING PATCH PACKAGES WITH EMBEDDED ELECTRONIC CIRCUITS | &nbsp;&nbsp;15/344,619 | &nbsp;&nbsp;US | &nbsp;&nbsp;November 7, 2016 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;10021522 | &nbsp;&nbsp;July 10, 2018 |
| &nbsp;&nbsp;TRACKING DEVICES, SYSTEMS AND METHODS USING PATCH PACKAGES WITH EMBEDDED ELECTRONIC CIRCUITS | &nbsp;&nbsp;16/028,449 | &nbsp;&nbsp;US | &nbsp;&nbsp;July 6, 2018 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;10616715 | &nbsp;&nbsp;April 7, 2020 |
| &nbsp;&nbsp;MULTI-DIMENSIONAL INTEGRATED CIRCUITS AND MEMORY STRUCTURE FOR INTEGRATED CIRCUITS AND ASSOCIATED SYSTEMS AND METHODS | &nbsp;&nbsp;16/292,388 | &nbsp;&nbsp;US | &nbsp;&nbsp;March 5, 2019 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;10854763 | &nbsp;&nbsp;December 1, 2020 |
| &nbsp;&nbsp;MULTI-DIMENSIONAL INTEGRATED CIRCUITS AND MEMORY STRUCTURE FOR INTEGRATED CIRCUITS AND ASSOCIATED SYSTEMS AND METHODS | &nbsp;&nbsp;17/102,928 | &nbsp;&nbsp;US | &nbsp;&nbsp;November 24, 2020 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;11411127 | &nbsp;&nbsp;August 9, 2022 |
| &nbsp;&nbsp;MULTI-DIMENSIONAL INTEGRATED CIRCUITS AND MEMORY STRUCTURE FOR INTEGRATED CIRCUITS AND ASSOCIATED SYSTEMS AND METHODS | &nbsp;&nbsp;10-2021-7008024 | &nbsp;&nbsp;KR | &nbsp;&nbsp;March 17, 2021 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;10-2508579 | &nbsp;&nbsp;March 7, 2023 |
| &nbsp;&nbsp;PUSH-BUTTON AND TOUCH-ACTIVATED VITAL SIGNS MONITORING DEVICES AND METHODS OF MAPPING DISEASE HOT SPOTS AND PROVIDING PROXIMITY ALERTS | &nbsp;&nbsp;16/983,289 | &nbsp;&nbsp;US | &nbsp;&nbsp;August 3, 2020 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;11638523 | &nbsp;&nbsp;May 2, 2023 |
| &nbsp;&nbsp;SYSTEMS AND METHODS FOR ELIMINATING ELECTROMIGRATION AND SELF-HEAT VIOLATIONS IN A MASK LAYOUT BLOCK | &nbsp;&nbsp;17315747 | &nbsp;&nbsp;US | &nbsp;&nbsp;May 10, 2021 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;11763062 | &nbsp;&nbsp;September 19, 2023 |
| &nbsp;&nbsp;SYSTEMS AND METHODS FOR IDENTIFICATION AND ELIMINATION OF GEOMETRICAL DESIGN RULE VIOLATIONS OF A MASK LAYOUT BLOCK | &nbsp;&nbsp;17391292 | &nbsp;&nbsp;US | &nbsp;&nbsp;August 2, 2021 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;11853682 | &nbsp;&nbsp;December 26, 2023 |
| &nbsp;&nbsp;MULTI-DIMENSIONAL INTEGRATED CIRCUITS AND MEMORY STRUCTURE FOR INTEGRATED CIRCUITS AND ASSOCIATED SYSTEMS AND METHODS | &nbsp;&nbsp;17876981 | &nbsp;&nbsp;US | &nbsp;&nbsp;July 29, 2022 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;12199196 | &nbsp;&nbsp;January 14, 2025 |
| &nbsp;&nbsp;SYSTEMS AND METHODS OF ELIMINATING CONNECTIVITY MISMATCHES IN A MASK LAYOUT BLOCK | &nbsp;&nbsp;17880055 | &nbsp;&nbsp;US | &nbsp;&nbsp;August 3, 2022 | &nbsp;&nbsp;Granted | &nbsp;&nbsp; 11586799 | &nbsp;&nbsp;February 21, 2023 |
| &nbsp;&nbsp;SYSTEMS AND METHODS OF AUTOMATIC GENERATION OF INTEGRATED CIRCUIT IP BLOCKS | &nbsp;&nbsp;17953378 |  | &nbsp;&nbsp;September 27, 2022 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;11741284 | &nbsp;&nbsp;August 29, 2023 |
| &nbsp;&nbsp;SYSTEMS AND METHODS OF PREDICTIVE MANUFACTURING OF THREE-DIMENSIONAL, MULTI-PLANAR SEMICONDUCTORS | &nbsp;&nbsp;18098140 | &nbsp;&nbsp;US | &nbsp;&nbsp;January 18, 2023 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;11809797 | &nbsp;&nbsp;November 7, 2023 |
| &nbsp;&nbsp;MULTI-DIMENSIONAL PHOTONIC INTEGRATED CIRCUITS AND MEMORY STRUCTURE FOR PHOTONIC INTEGRATED CIRCUITS AND ASSOCIATED SYSTEMS AND METHODS | &nbsp;&nbsp;18109291 | &nbsp;&nbsp;US | &nbsp;&nbsp;February 14, 2023 | &nbsp;&nbsp;Granted | &nbsp;&nbsp;11862736 | &nbsp;&nbsp;January 2, 2024 |

---

EXHIBIT B : EQUITY ALLOCATIONS:

From a business perspective, GBT would be contributing:

2,020,500 VWAV shares

Representing a value of $20,205,000

From a business perspective, Tokenize would be contributing:

IP Portfolio valued at 295,000,000 and 879,102 VWAV shares Representing a value of $8,791,020 and in combined Representing a value of $303,791,020

VisionWave and AIPHEX estimate the aggregate value of their combined projects at **$5,000,000,000**. Based on third parties' internal value for investment purposes.

Based on these valuations, GBT would receive a **0.40% equity position, Tokenize will receive a 6.08%** (rounded product of TOKENIZE and GBT contributions) in the JV LLC, with the remaining **93.52%** split equally between **AIPHEX** and **VWAV** (46.76% each).