Document:

Exhibit 4.3

 

Digerati Technologies, Inc.

Description
of Securities

 

General

 

We are authorized to issue an aggregate of 500,000,000
shares of common stock, $0.001 par value per share and 50,000,000 shares of preferred stock in one or more series and to fix the voting
powers, preferences and other rights and limitations of the preferred stock. As of October 25, 2021, we had 138,838,039 shares of common
stock outstanding and no shares of preferred stock outstanding.

 

Each share of common stock shall have one (1)
vote per share. Our common stock does not provide a preemptive, subscription or conversion rights and there are no redemption or sinking
fund provisions or rights. Our common stock holders are not entitled to cumulative voting for election of Board of Directors.

 

Dividends

 

We have not paid any dividends on our common stock
since our inception and do not intend to pay any dividends in the foreseeable future.

 

The declaration of any future cash dividends is
at the discretion of our board of directors and depends upon our earnings, if any, our capital requirements and financial position, our
general economic conditions, and other pertinent conditions. It is our present intention not to pay any cash dividends in the foreseeable
future, but rather to reinvest earnings, if any, in our business operations.

  

Warrants

 

As of October 25, 2021, we have issued warrants
to purchase 109,506,179 shares of Common Stock issuable with a weighted average exercise price of $0.01. Of which 82,280,885 warrants
are exercisable immediately, have a weighted-average remaining life of 9.15 years and a weighted-average exercise price of $0.01 as of
October 25, 2021.

 

Options

 

As of October 25, 2021, we have issued options
to purchase 9,230,000 shares of Common Stock issuable with a weighted average exercise price of $0.17. Of which 6,091,863 options are
exercisable immediately, have a weighted-average remaining life of 2.18 years and a weighted-average exercise price of $0.23 as of October
25, 2021.

 

Securities Authorized for Issuance Under Equity Compensation Plans

 

In November 2015, Digerati adopted the Digerati
Technologies, Inc. 2015 Equity Compensation Plan (the “Plan”). The Plan authorizes the grant of up to 7.5 million stock options,
restricted common shares, non-restricted common shares and other awards to employees, directors, and certain other persons. The Plan is
intended to permit Digerati to retain and attract qualified individuals who will contribute to the overall success of Digerati. Digerati’s
Board of Directors determines the terms of any grants under the Plan. Exercise prices of all stock options and other awards vary based
on the market price of the shares of common stock as of the date of grant. The stock options, restricted common stock, non-restricted
common stock and other awards vest based on the terms of the individual grant. On November 18, 2015, the Company filed a Registration
Statement on Form S-8 to register with the U.S. Securities and Exchange Commission 7,500,000 shares of the Company’s common stock,
which may be issued by the Company upon the exercise of options granted, or other awards made, pursuant to the terms of the Plan. Please
see the Plan filed as Exhibit 4.1 to the Company’s Registration Statement on Form S-8 filed with the U.S. Securities and Exchange
Commission on November 18, 2015. 

 

    1

     

    

 

Preferred Stock

 

The Company has authorized 50,000,000 shares of
preferred stock. The board of directors has the authority to issue these shares and to set dividends, voting and conversion rights, redemption
provisions, liquidation preferences, and other rights and restrictions.

 

Anti-Takeover Effects of Various Provisions of Nevada Law 

 

Provisions of the Nevada Revised Statutes, our
articles of incorporation, as amended, and bylaws could make it more difficult to acquire us by means of a tender offer, a proxy contest
or otherwise, or to remove incumbent officers and directors. These provisions, summarized below, would be expected to discourage certain
types of takeover practices and takeover bids our Board may consider inadequate and to encourage persons seeking to acquire control of
us to first negotiate with us. We believe that the benefits of increased protection of our ability to negotiate with the proponent of
an unfriendly or unsolicited proposal to acquire or restructure us will outweigh the disadvantages of discouraging takeover or acquisition
proposals because, among other things, negotiation of these proposals could result in an improvement of their terms.

 

Blank Check Preferred 

 

Our articles of incorporation permit our Board
to issue preferred stock with voting, conversion and exchange rights that could negatively affect the voting power or other rights of
our Common Stockholders. The issuance of our preferred stock could delay or prevent a change of control of our Company.

 

Amendments to our Articles of Incorporation
and Bylaws

 

Under the Nevada Revised Statutes, our articles
of incorporation may not be amended by stockholder action alone.

 

Nevada Anti-Takeover Statute

 

We may be subject to Nevada’s Combination
with Interested Stockholders Statute (Nevada Corporation Law Sections 78.411-78.444) which prohibits an “interested stockholder”
from entering into a “combination” with the corporation, unless certain conditions are met. An “interested stockholder”
is a person who, together with affiliates and associates, beneficially owns (or within the prior two years, did beneficially own) 10%
or more of the corporation’s capital stock entitled to vote.

 

Limitations on Liability and Indemnification
of Officers and Directors

 

The Nevada Revised Statutes limits or eliminates
the personal liability of directors to corporations and their stockholders for monetary damages for breaches of directors’ fiduciary
duties as directors.

 

The limitation of liability and indemnification
provisions under the Nevada Revised Statutes and in our articles of incorporation and bylaws may discourage stockholders from bringing
a lawsuit against directors for breach of their fiduciary duties. These provisions may also have the effect of reducing the likelihood
of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our
stockholders. However, these provisions do not limit or eliminate our rights, or those of any stockholder, to seek non-monetary relief
such as injunction or rescission in the event of a breach of a director’s fiduciary duties. Moreover, the provisions do not alter
the liability of directors under the federal securities laws. In addition, your investment may be adversely affected to the extent that,
in a class action or direct suit, we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions.

 

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Authorized but Unissued Shares

 

Our authorized but unissued shares of Common Stock
and preferred stock will be available for future issuance without stockholder approval, except as may be required under the listing rules
of any stock exchange on which our Common Stock is then listed. We may use additional shares for a variety of corporate purposes, including
future public offerings to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but
unissued shares of Common Stock and preferred stock could render more difficult or discourage an attempt to obtain control of us by means
of a proxy contest, tender offer, merger or otherwise.

 

Penny Stock Considerations

 

Our shares will be “penny stocks”
as that term is generally defined in the Securities Exchange Act of 1934 to mean equity securities with a price of less than $5.00 per
share. Thus, our shares will be subject to rules that impose sales practice and disclosure requirements on broker-dealers who engage in
certain transactions involving a penny stock. Under the penny stock regulations, a broker-dealer selling a penny stock to anyone other
than an established customer must make a special suitability determination regarding the purchaser and must receive the purchaser’s
written consent to the transaction prior to the sale, unless the broker-dealer is otherwise exempt.

 

In addition, under the penny stock regulations,
the broker-dealer is required to:

 

	 	●	Deliver, prior to any transaction involving a penny stock, a disclosure schedule prepared by the Securities and Exchange Commission relating to the penny stock market, unless the broker-dealer or the transaction is otherwise exempt;

 

	 	●	Disclose commissions payable to the broker-dealer and our registered representatives and current bid and offer quotations for the securities;

 

	 	●	Send monthly statements disclosing recent price information pertaining to the penny stock held in a customer’s account, the account’s value, and information regarding the limited market in penny stocks; and

 

	 	●	Make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser’s written agreement to the transaction, prior to conducting any penny stock transaction in the customer’s account.

 

Because of these regulations, broker-dealers may
encounter difficulties in their attempt to sell shares of our common stock, which may affect the ability of selling shareholders or other
holders to sell their shares in the secondary market and have the effect of reducing the level of trading activity in the secondary market.
These additional sales practice and disclosure requirements could impede the sale of our securities, if our securities become publicly
traded. In addition, the liquidity for our securities may be decreased, with a corresponding decrease in the price of our securities.
Our shares in all probability will be subject to such penny stock rules and our shareholders will, in all likelihood, find it difficult
to sell their securities.

 

 

3Exhibit 10.5

 

SETTLEMENT AGREEMENT
AND MUTUAL RELEASE

 

This Settlement Agreement
and Mutual Release (the “Agreement”) is made and entered into and effective this 21st day of September, 2021, by
and between Carolina Financial Securities, LLC (“CFS”) and T3 Communications. Inc. The aforementioned entities are referred
to herein as the “Parties” and each individually as a “Party.”

 

BACKGROUND

 

The Parties entered into an
Engagement Letter dated October 14, 2019 pursuant to which T3 engaged CFS to provide investment banking services in connection with T3's
efforts to secure financing for its strategic growth plans (the “Engagement Letter”). A dispute arose between the Parties
regarding compensation owed to CFS under the Engagement Letter (the “Dispute”). The Dispute was the subject of a lawsuit initially
filed by CFS in Forsyth County (N.C.) Superior Court (Case No. 21 -CVS-2005) and then removed by T3 to the United States District Court
for the Middle District of North Carolina (Case No. 21-CV-408-WO-LPA) (the “Litigation”). The parties participated in a mediation
on August 25, 2021 and September 13, 2021. The mediation resulted in a full and complete settlement and resolution of all issues between
the Parties. The Parties enter into this Agreement for the purpose of fully documenting the terms of their settlement.

 

NOW, THEREFORE, in consideration
of the mutual promises and covenants hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and intending to be legally bound, the Parties hereto agree as follows:

 

AGREEMENT 

 

1. Payment. T3 shall
pay CFS the sum of $300,000.00 (the “Settlement Proceeds”) in full and final settlement of all issues between the parties.
The Settlement Proceeds shall be paid by wire or ACH transfer as follows: (1) $ 100.000.00 on or before October 15, 2021; and (2) $200,000.00
payable in fifteen (15) equal monthly installments of $13,333.33 beginning November 15, 2021 and due the l5th of every month,
provided that if the 15th falls on a weekend or banking holiday, the payment shall be due the next business day. CFS shall
provide wire and ACH instructions to T3 in connection with the execution of this Agreement.

 

     

     

    

 

2. Confession of Judgment.
Simultaneous with the execution of this Agreement, T3 shall execute and deliver to CFS a Confession of Judgment in the total amount of
$500,000.00. The Confession of Judgment shall be in the same form as the attached Exhibit A. Counsel for CFS shall retain and safeguard
the originally-executed and notarized Confession of Judgment in escrow pending payment in full of the Settlement Proceeds. Upon payment
in full of the Settlement Proceeds, counsel for CFS shall promptly return the document, marked “Released and Discharged,”
to counsel for T3. CFS shall be entitled to file this Confession of Judgment, and obtain judgment upon it, with credit due T3 for all
payments made in the performance of this Agreement, in the event, and only in the event. T3 fails to make a payment according to the schedule
set forth in Paragraph I above and fails to cure the default within seven (7) days of receiving written notice from CFS; provided,
however, that CFS shall be required to provide written notice and a 7-day cure period only as to the first two (2) defaults. If T3 fails
to timely cure a default, or upon the third default. CFS shall be entitled to immediately file the Confession of Judgment. CFS shall send
any notice pursuant to this Paragraph 2 by email marked “High Importance” to the following individuals:

 

Art Smith: a.smith@t3com.net

Antonio Estrada: a.estrada@t3com.net

Cary Davis: CDavis@robinsonbradshaw.com

 

3. Dismissal with Prejudice.
Counsel for the Parties shall cause to be filed a Stipulation of Dismissal with Prejudice of the Litigation promptly following receipt
by CFS of T3’s initial $100,000.00 payment.

 

4.
Mutual General Releases.

 

a. General Release
by CFS. To the fullest extent permitted by law, CFS, for itself, its predecessors, successors, assigns, affi1iates, partners, agents,
representatives, heirs, officers, principals, directors, employees, attorneys, related entities and insurers forever releases and discharges
T3 and its predecessors, successors, assigns, affiliates, partners, agents, representatives, heirs, officers, principals, directors, employees,
Attorneys, related entities and insurers, from each and every claim, duty, Obligation, right, cause of action or liability, whether in
law or equity, whether known or unknown, suspected or unsuspected, asserted or unasserted, foreseen or unforeseen, actual or contingent,
liquidated or unliquidated, that concerns, arises out of, or in any way relates to the Litigation, Dispute, or Engagement Letter; provided,
however, that this Release shall not apply to any rights or duties arising under this Agreement or under documents to be executed
or action to be taken pursuant to this Agreement.

 

b. General Release
by T3. To the fullest extent permitted by law, T3, for itself, its predecessors, successors, assigns, affiliates, partners, agents,
representatives. heirs, officers, principals, directors, employees, attorneys, related entities and insurers forever releases and discharges
CFS and its predecessors, successors, assigns, affiliates, partners, agents, representatives, heirs, officers, principals, directors,
employees, attorneys, related entities and insurers, from each and every claim, duty, obligation, right, cause of action or liability,
whether in law or equity, whether known or unknown, suspected or unsuspected, asserted or unasserted, foreseen or unforeseen, actual or
contingent, liquidated or unliquidated, that concerns, arises out of, or in any way relates to the Litigation, Dispute, or Engagement
Letter; provided, however, that this Release shall not apply to any rights or duties arising under this Agreement or under documents
to be executed or action to be taken pursuant to this Agreement.

 

c. Covenant Not
to Sue. In connection with the above releases. the Parties agree to not sue one another on any of the released claims. If a Party
does so, the non-violating Party shall be entitled to recover from the violating Party its reasonable attorney’s fees and costs
incurred in defending any action involving a released claim.

 

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5. Parties
to Bear Their Own Fees and Costs. The Parties will each be responsible for payment of their own costs and attorneys' fees in connection
with the Dispute and the Litigation.

 

6. No Admissions. The
execution of this Agreement is not, and shall not constitute and shall not be construed as, an admission of fault, liability or wrongdoing
by any Party.

 

7. Authority.
The Parties represent and warrant that they have taken all actions and obtained all authorizations, consents, and approvals as are conditions
precedent to their authority to execute this Agreement.

 

8. No
Other Persons with an Interest. The Parties further warrant and represent that no other person or entity has or will have any interest
in the matters released herein, and that they have not and will not assign or transfer to any person or entity all or any portion of the
matters released herein.

 

9. Agreement and Release
Knowing and Voluntary. The Parties acknowledge that they have considered this Agreement with their attorneys and have carefully read
this Agreement, that it has been fully explained by their attorneys, and that they have had a reasonable amount of time to consider this
Agreement. The Parties further represent that they know and fully understand the contents of this Agreement, that they intend to be legally
bound by this Agreement and the releases contained herein, and that they are signing this Agreement, including any release or covenant,
voluntarily and of their own free will and without coercion, and with the benefit of advice of counsel.

 

10. Entire Agreement.
This Agreement constitutes the entire agreement between the Parties and supersedes and replaces any and all prior or contemporaneous agreements
or understandings, written or oral, with regard to the matters set forth herein. The terms of this Agreement are contractual and not merely
a recital. This Agreement may not be altered or amended except by an agreement in writing duly executed by all of the Parties.

 

11. Binding Effect.
This Agreement binds and benefits the Parties, their successors and assigns, and may be specifically enforced without further documents
or testimony.

 

12. Governing
Law. This Agreement shall be governed by and enforced in accordance with the internal laws of the State of North Carolina regardless
of choice of law principles to the contrary.

 

13. Invalid Provision to
Affect No Others. If any provision of this Agreement is held, determined, or adjudicated to be invalid, unenforceable, or void for
any reason, each such provision shall be severed from the remaining provisions of this Agreement and shall not affect the validity and
enforceability of such remaining provisions.

 

14. Counterparts. This
Agreement may be executed in any number of counterparts and by the different Parties hereto on separate counterparts. each of which, when
so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument. The exchange of
electronic counterparts will be considered binding, with originals to follow.

 

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IN WITNESS WHEREOF,
the parties hereto, intending to be legally bound hereby, have duly executed and delivered this Agreement as of the date set forth above.

 

	CAROLINA FINANCIAL SECURITIES, LLC	 	T3 COMMUNICATIONS, INC. 
	 	 	 	 	 
	By:	/s/ Bruce
    V. Roberts	 	By:	/s/ Arthor L. Smith

	 	 	 	 	 
	Name: 	Bruce V. Roberts	 	Name:	Arthor L. Smith

	 	 	 	 	 
	Title:	President	 	Title:	CEO
	 	 	 	 	 
	Date:	9/20/2021  | 6:08 AM PDT
	 	Date:	9/21/2021

 

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EXHIBIT A

 

FORM CONFESSION OF JUDGMENT

 

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	STATE OF NORTH CAROLINA	IN THE GENERAL COURT OF JUSTICE
	COUNTY OF	SUPERIOR COURT DIVISION
	 	____-CVS-____
	 	 
	CAROLINA FINANCIAL SECURITIES, LLC	 
	 	 
	Plaintiff,	 
	 	 
	v.	CONFESSION OF JUDGMENT
	 	 
	T3 COMMUNICATIONS, INC.,	 
	 	 
	Defendant.	 
	 	 

 

TO: THE CLERK OF COURT

____________COUNTY

 

1. Pursuant to N.C.G.S. §1
A-1, Rule 68.1, Defendant T3 Communications, Inc., (“Defendant” or “T3”), a Nevada corporation with its principal
office located in San Antonio, Texas, hereby confesses and authorizes the entry of judgment in favor of Plaintiff Carolina Financial Securities,
LLC (“Plaintiff’ or “CFS”), a North Carolina limited liability company, in the principal sum of $500,000.00
(hereinafter, the “Principal Debt”), less any and all amounts paid by Defendants, or any other person or entity on their behalf,
in satisfaction of this sum.

 

2. This Confession of Judgment
is security for an indebtedness now justly due and owing from Defendant to Plaintiff pursuant to a Settlement Agreement and Mutual Release
(the “Settlement Agreement”) entered into by the parties contemporaneously with the execution and delivery of this Confession
of Judgment.

 

3. This Confession of Judgment
will be void and of no effect if Defendant timely and properly pays or causes to be paid to Plaintiff the total amount of $300,000.00
(the “Settlement Proceeds”) as follows: (1) $100,000.00 on or before October 15, 2021; and (2) $200,000.00 payable in fifteen
(15) equal monthly installments of $13,333.33 beginning November 15, 2021 and due the 15th of every month, provided that if
the 15th falls on a weekend or banking holiday, the payment shall be due the next business day (the Settlement Payments”),
all pursuant to the terms of the Settlement Agreement.

 

4. Nothing
herein prevents Defendant or any person or entity acting on their behalf from paying the Principal Debt more quickly than as set forth
herein.

 

5. Plaintiff
agrees to retain the originally-executed and acknowledged Confession of Judgment in care of its legal counsel and to return the documents
to Defendant upon full payment of the Settlement Proceeds under the terms of the Settlement Agreement.

 

6. CFS shall be entitled to
file this Confession of Judgment, and obtain judgment upon it in the amount of the Principal Debt less the sum of all Settlement Payments
made by T3 in the performance of the Settlement Agreement, in the event, and only in the event, T3 fails to make a Settlement Payment
according to the schedule set forth in Paragraph 3 above and fails to cure the default within seven (7) days of receiving written
notice from CFS; provided, however, that CFS shall be required to provide written notice and a 7-day cure period only as to the first
two (2) defaults. If T3 fails to timely cure a default, or upon the third default, T3 authorizes Plaintiff to file and execute on this
Confession of Judgment, giving credit for all Settlement Payments previously made, pursuant to the sworn affidavit of Plaintiff or its
counsel which must set forth the circumstances establishing a default pursuant to this Confession of Judgment and further setting forth
the outstanding balance due pursuant to the terms and conditions of this Confession of Judgment.

 

    6

     

    

 

	T3 COMMUNICATIONS, INC.	 
	 	 
	By: 	 
	 	 
	Sworn to and subscribed before me	 
	this 21st day of September, 2021.
	 
	 	 
	/s/ Kathleen Keller	 
	Notary Public
	 
	 	 
	Printed name of Notary Public: Kathleen Keller	 
	 	 
	My Commission Expires: November 1, 2023	 

 

 

 

 

7

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