Document:

Exhibit 10.31

 

Note: October 23, 2019

 

NEITHER THIS NOTE NOR THE SECURITIES
INTO WHICH THIS NOTE ARE CONVERTIBLE HAVE BEEN REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

THIS NOTE DOES NOT REQUIRE
PHYSICAL SURRENDER OF THE NOTE IN THE EVENT OF A PARTIAL REDEMPTION OR CONVERSION. AS A RESULT, FOLLOWING ANY REDEMPTION OR CONVERSION
OF ANY PORTION OF THIS NOTE, THE OUTSTANDING PRINCIPAL SUM REPRESENTED BY THIS NOTE MAY BE LESS THAN THE PRINCIPAL SUM AND ACCRUED
INTEREST SET FORTH BELOW.

 

8%
CONVERTIBLE PROMISSORY NOTE

 

OF

 

BIOXYTRAN,
INC.

 

Issuance Date: October 23,
2019

Principal Sum: $106,300

 

This
Note is a duly authorized Convertible Promissory Note of Bioxytran, Inc., a corporation duly organized and existing under
the laws of the State of Nevada (the “Company”), designated as the Company's 8% Convertible Promissory Note
due October 23, 2020 (“Maturity Date”) in the face amount of $106,300 (the “Note”).

 

For
Value Received, the Company hereby promises to pay to the order of Tangiers Global, LLC or its registered assigns or successors-in-interest
(the “Holder”) the Principal Sum of $106,300 (the “Principal Sum”) and to pay “guaranteed”
interest on the principal balance hereof at an amount equivalent to 8% of the Principal Sum, to the extent such Principal Sum
and “guaranteed” interest and any other interest, fees, liquidated damages and/or items due to Holder herein
have not been repaid or converted into the Company’s Common Stock (the “Common Stock”), in accordance
with the terms hereof. The sum of $100,000 shall be remitted and delivered to the Company, and $6,300 shall be retained by the
Holder through an original issue discount (the “OID”) for due diligence and legal bills related to this transaction.
The Company covenants that within three (3) months of the Effective Date of the Note, it shall utilize approximately $100,000
of the proceeds in the manner set forth on Schedule 1, attached hereto (the “Use of Proceeds”), and shall
promptly provide evidence thereof to Holder, in sufficient detail as reasonably requested by Holder.

 

     

     

    

 

In addition to the “guaranteed”
interest referenced above, and upon the occurrence of an Event of Default (as defined in Section 3.00(a)), additional interest
will accrue from the date of the Event of Default at the rate equal to the lower of 18% per annum or the highest rate permitted
by law (the “Default Rate”).

 

This Note will become effective
only upon the execution by both parties, including the execution of Exhibits B, C, D, E, Schedule 1 (collectively, the “Exhibits”),
and the Irrevocable Transfer Agent Instructions (the “Date of Execution”) and delivery of the initial payment of consideration
by the Holder (the “Effective Date”). The Company acknowledges and agrees the Exhibits are material provisions of this
Note.

 

As an
investment incentive, the Company will issue to the Holder 5-year cashless warrants, exercisable at $2.00 per share for an aggregate
of up to 50,000 warrant shares (as subject to adjustment per the terms and conditions of that certain Common Stock Purchase Warrant
(the “Warrant”) of even date hereof.

 

For purposes hereof the following terms shall have
the meanings ascribed to them below:

 

“Business Day” shall mean
any day other than a Saturday, Sunday or a day on which commercial banks in the City of New York are authorized or required by
law or executive order to remain closed.

 

“Conversion Price”
shall be equal to the lower of: (a) $.80 or (b) 65% of the lowest trading price of the Company’s Common Stock during
the 20 consecutive Trading Days prior to the date on which Holder elects to convert all or part of the Note. For the purpose
of calculating the Conversion Price only, any time after 4:00 pm Eastern Time (the closing time of the Principal Market)
shall be considered to be the beginning of the next Business Day. If the Company is placed on “chilled”
status with the DTC, the discount shall be increased by 10%, i.e., from 35% to 45%, until such chill is remedied. If the
Company is not DWAC eligible through their transfer agent and DTC’s FAST system, the Conversion Price discount will be
increased by 5%, i.e., from 35% to 40%. In the case of both, the Conversion Price discount shall be a cumulative increase of
15%, i.e., from 35% to 50%. Any default of this Note not remedied within the applicable cure period will result in a
permanent additional 10% increase, i.e., from 35% to 45%, in the Conversion Price discount in addition to any and all other
Conversion Price discounts, as provided above.

 

“Principal
Amount” shall refer to the sum of (i) the original principal amount of this Note (including the original issue
discount, prorated if the Note has not been funded in full), (ii) all guaranteed and other accrued but unpaid interest
hereunder, (iii) any fees due hereunder, (iv) liquidated damages, and (v) any default payments owing under the Note, in each
case previously paid or added to the Principal Amount.

 

“Principal
Market” shall refer to the primary exchange or trading platform on which the Company’s common stock is traded
or quoted.

 

“Trading
Day” shall mean a day on which there is trading or quoting for any security on the Principal Market.

 

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“Underlying Shares”
means the shares of Common Stock into which the Note is convertible (including interest, fees, liquidated damages and/or
principal payments in common stock as set forth herein) in accordance with the terms hereof.

 

The following terms and conditions shall apply to this
Note:

 

Section 1.00 Repayment.

 

(a) The
Company may pay this Note, in whole or in part, in cash or in other good funds, according to the following schedule:

 

	Days Since Effective Date	 	Payment Amount
	Under 90	 	110% of Principal Amount so paid
	91-120	 	120% of Principal Amount so paid
	121-180	 	130% of Principal Amount so paid

 

(b) After 180 days from the Effective
Date, the Company may not pay this Note, in whole or in part, in cash or in other good funds, without prior written consent from
Holder, which consent may be withheld, delayed, denied, or conditioned in Holder’s sole and absolute discretion. Whenever
any amount expressed to be due by the terms of this Note is due on any day that is not a Business Day, the same shall instead be
due on the next succeeding day that is a Business Day. Upon the occurrence of an Event of Default, the Company may not pay the
Note, in whole or in part, in cash or in other good funds without written consent of the Holder, which consent may be withheld,
delayed, denied, or conditioned in Holder’s sole and absolute discretion. Further, the Company, except with respect to payment
on the Maturity Date, shall provide the Holder with two weeks’ prior written notice of the Company’s determination
to pay any or all of its obligations hereunder. During such two-week period, the Holder may exercise any or all of its conversion
rights hereunder. In the event that the Holder does not exercise its conversion rights in respect of any or all of such noticed,
prospective payment, the Company shall tender the full amount set forth in such notice (less any amount in respect of which the
Holder has exercised its conversion rights) to the Holder within 2 Business Days following the Holder’s exercise (or notification
to the Company of non-exercise) of the Holder’s conversion rights in respect of the amount set forth in such notice. Any
such payment by the Company in connection with this provision shall be deemed to have been made on the date that the Holder first
receives the above-referenced notice.

 

Section 2.00 Conversion.

 

(a) Conversion
Right. Subject to the terms hereof and restrictions and limitations contained herein, the Holder shall have the right, at
the Holder's sole option, at any time and from time to time to convert in whole or in part the outstanding and unpaid
Principal Amount under this Note into shares of Common Stock at the Conversion Price (defined below), but not to exceed the
Restricted Ownership Percentage, as defined in Section 2.00(f). The date of any conversion notice (“Conversion
Notice”) hereunder shall be referred to herein as the “Conversion Date”.

 

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(b) Stock Certificates or
DWAC. The Company will deliver to the Holder, or Holder’s authorized designee, no later than 3 Trading Days after the
Conversion Date, a certificate or certificates (which certificate(s) shall be free of restrictive legends and trading restrictions
if the shares of Common Stock underlying the portion of the Note being converted are eligible under a resale exemption pursuant
to Rule 144(b)(1)(ii) and Rule 144(d)(1)(ii) of the Securities Act of 1933, as amended) representing the number of shares of Common
Stock being acquired upon the conversion of this Note. In lieu of delivering physical certificates representing the shares of Common
Stock issuable upon conversion of this Note, provided the Company's transfer agent is participating in Depository Trust Company’s
(“DTC”) Fast Automated Securities Transfer (“FAST”) program, the Company shall instead use commercially
reasonable efforts to cause its transfer agent to electronically transmit such shares issuable upon conversion to the Holder (or
its designee), by crediting the account of the Holder’s (or such designee’s) broker with DTC through its Deposits and
Withdrawal at Custodian (“DWAC”) program (provided that the same time periods herein as for stock certificates shall
apply).

 

(c) Charges and Expenses.
Issuance of Common Stock to Holder, or any of its assignees, upon the conversion of this Note shall be made without charge to the
Holder for any issuance fee, transfer tax, legal opinion and related charges, postage/mailing charge or any other expense with
respect to the issuance of such Common Stock. Company shall pay all transfer agent fees incurred from the issuance of the Common
Stock to Holder, as well as any and all other fees and charges required by the transfer agent as a condition to effectuate such
issuance. Any such fees or charges, as noted in this Section that are paid by the Holder (whether from the Company’s delays,
outright refusal to pay, or otherwise), will be automatically added to the Principal Sum of the Note and tack back to the Effective
Date for purposes of Rule 144.

 

(d) Delivery
Timeline. If the Company fails to deliver to the Holder such certificate or certificates (or shares through the DWAC
program) pursuant to this Section (free of any restrictions on transfer or legends, if eligible) prior to 3 Trading Days
after the Conversion Date, the Company shall pay to the Holder as liquidated damages an amount equal to $1,000 per day, until
such certificate or certificates are delivered. The Company acknowledges that it would be extremely difficult or
impracticable to determine the Holder’s actual damages and costs resulting from a failure to deliver the Common Stock
and the inclusion herein of any such additional amounts are the agreed upon liquidated damages representing a reasonable
estimate of those damages and costs. Such liquidated damages will be automatically added to the Principal Sum of the Note and
tack back to the Effective Date for purposes of Rule 144.

 

(e) Reservation
of Underlying Securities. The Company covenants that it will at all times reserve and keep available for Holder, out of its
authorized and unissued Common Stock solely for the purpose of issuance upon conversion of this Note, free from preemptive rights
or any other actual contingent purchase rights of persons other than the Holder, three times the number of shares of Common
Stock as shall be issuable (taking into account the adjustments under this Section 2.00, but without regard to any ownership limitations
contained herein) upon the conversion of this Note (consisting of the Principal Amount) to Common Stock (the “Required
Reserve”). The Company covenants that all shares of Common Stock that shall be issuable will, upon issue, be duly authorized,
validly issued, fully-paid, non-assessable and freely-tradable (if eligible). If the amount of shares on reserve in Holder’s
name at the Company’s transfer agent for this Note shall drop below the Required Reserve, the Company will, within 2 Trading
Days of notification from Holder, instruct the transfer agent to increase the number of shares so that the Required Reserve is
met. In the event that the Company does not instruct the transfer agent to increase the number of shares so that the Required
Reserve is met, the Holder will be allowed, if applicable, to provide this instruction as per the terms of the Irrevocable Transfer
Agent Instructions attached to this Note. The Company agrees that the maintenance of the Required Reserve is a material term of
this Note and any breach of this Section 2.00(e) will result in a default of the Note.

 

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(f) Conversion
Limitation. The Holder will not submit a conversion to the Company that would result in the Holder beneficially owning more
than 9.99% of the then total outstanding shares of the Company (“Restricted Ownership Percentage”).

 

(g) Conversion Delays.
If the Company fails to deliver shares in accordance with the timeframe stated in Section 2.00(c), the Holder, at any time prior
to selling all of those shares, may rescind any portion, in whole or in part, of that particular conversion attributable to the
unsold shares. The rescinded conversion amount will be returned to the Principal Sum with the rescinded conversion shares returned
to the Company, under the expectation that any returned conversion amounts will tack back to the Effective Date.

 

(h) Shorting
and Hedging. Holder may not engage in any “shorting” or “hedging” transaction(s) in the Common Stock
of the Company prior to conversion.

 

(i) Conversion Right Unconditional.
If the Holder shall provide a Conversion Notice as provided herein, the Company's obligations to deliver Common Stock shall be
absolute and unconditional, irrespective of any claim of setoff, counterclaim, recoupment, or alleged breach by the Holder of any
obligation to the Company.

 

Section 3.00 Defaults and
Remedies.

 

(a) Events
of Default. An “Event of Default” is: (i) a default in payment of any amount due hereunder; (ii) a
default in the timely issuance of underlying shares upon and in accordance with terms of Section 2.00, which default
continues for 2 Trading Days after the Company has failed to issue shares or deliver stock certificates within the 3rd
Trading Day following the Conversion Date, provided that such failure was not due to an act or omission by the
Company’s transfer agent after receiving proper transfer instructions from the Company; (iii) if the Company does not
issue the press release or file the Current Report on Form 8-K, in each case in accordance with the provisions and the
deadlines referenced Section 5.00(j); (iv) failure by the Company for 3 days after notice has been received by the Company to
comply with any material provision of this Note; (v) any representation or warranty of the Company in this Note that is found
to have been incorrect in any material respect when made, including, without limitation, the Exhibits; (vi) failure of the
Company to remain compliant with DTC, thus incurring a “chilled” status with DTC; (vii) if the Company is subject
to any Bankruptcy Event; (viii) any failure of the Company to satisfy its “filing” obligations under Securities
Exchange Act of 1934, as amended (the “1934 Act”) and the rules and guidelines issued by OTC Markets News
Service, OTCMarkets.com and their affiliates after giving effect to any extension period permitted thereon; (ix) any failure
of the Company to provide the Holder with information related to its corporate structure including, but not limited to, the
number of authorized and outstanding shares and public float, within 3 Trading Days of request by Holder; (x) failure by the
Company to maintain the Required Reserve in accordance with the terms of Section 2.00(e); (xi) any delisting from a Principal
Market for any reason; (xii) failure by Company to pay any of its transfer agent fees in excess of $2,000 or to maintain a
transfer agent of record; (xiii) failure by Company to notify Holder of a change in transfer agent within 24 hours of such
change; (xiv) any trading suspension imposed by the United States Securities and Exchange Commission (the
“SEC”) under Sections 12(j) or 12(k) of the 1934 Act; (xv) failure by the Company to meet all requirements
necessary to satisfy the availability of Rule 144 to the Holder or its assigns, including but not limited to the timely
fulfillment of its filing requirements as a fully-reporting issuer registered with the SEC, requirements for XBRL filings,
and requirements for disclosure of financial statements on its website; or (xvi) failure of the Company to abide by the Use
of Proceeds or failure of the Company to inform the Holder of a change in the Use of Proceeds.

 

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(b) Remedies. If an Event of Default
occurs, the outstanding Principal Amount of this Note owing in respect thereof through the date of acceleration, shall
become, at the Holder's election, immediately due and payable in cash at the “Mandatory Default Amount”.
The Mandatory Default Amount means 40% of the outstanding Principal Amount of this Note will be automatically added to the
Principal Sum of the Note and tack back to the Effective Date for purposes of Rule 144. Commencing 5 days after the
occurrence of any Event of Default that results in the eventual acceleration of this Note, this Note shall accrue additional
interest, in addition to the Note’s “guaranteed” interest, at a rate equal to the lesser of 18% per
annum or the maximum rate permitted under applicable law. Finally, after the occurrence of an Event of Default that results
in the eventual acceleration of this Note, an additional 10% increase to the Conversion Price discount will go into effect.
In connection with such acceleration described herein, the Holder need not provide, and the Issuer hereby waives, any
presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace
period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable law.
Such acceleration may be rescinded and annulled by the Holder at any time prior to payment hereunder and the Holder shall
have all rights as a holder of the note until such time, if any, as the Holder receives full payment pursuant to this Section
3.00(b). No such rescission or annulment shall affect any subsequent event of default or impair any right consequent thereon.
Nothing herein shall limit the Holder's right to pursue any other remedies available to it at law or in equity
including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver certificates representing shares of Common Stock upon conversion of the Note as required pursuant
to the terms hereof.

 

Section 4.00 Representations
and Warranties of Holder.

 

Holder hereby represents and warrants to the Company
that:

 

(a) Holder
is an “accredited investor,” as such term is defined in Regulation D of the Securities Act of 1933, as
amended (the “1933 Act”), and will acquire this Note and the Underlying Shares (collectively, the
“Securities”) for its own account and not with a view to a sale or distribution thereof as that term is
used in Section 2(a)(11) of the 1933 Act, in a manner which would require registration under the 1933 Act or any state
securities laws. Holder has such knowledge and experience in financial and business matters that such Holder is capable of
evaluating the merits and risks of the Securities. Holder can bear the economic risk of the Securities, has knowledge and
experience in financial business matters and is capable of bearing and managing the risk of investment in the Securities.
Holder recognizes that the Securities have not been registered under the 1933 Act, nor under the securities laws of any state
and, therefore, cannot be resold unless the resale of the Securities is registered under the 1933 Act or unless an exemption
from registration is available. Holder has carefully considered and has, to the extent Holder believes such discussion
necessary, discussed with its professional, legal, tax and financial advisors, the suitability of an investment in the
Securities for its particular tax and financial situation and its advisers, if such advisors were deemed necessary, and has
determined that the Securities are a suitable investment for it. Holder has not been offered the Securities by any form of
general solicitation or advertising, including, but not limited to, advertisements, articles, notices or other communications
published in any newspaper, magazine, or other similar media or television or radio broadcast or any seminar or meeting
where, to Holders’ knowledge, those individuals that have attended have been invited by any such or similar means of
general solicitation or advertising. Holder has had an opportunity to ask questions of and receive satisfactory answers
from the Company, or any person or persons acting on behalf of the Company, concerning the terms and conditions of the
Securities and the Company, and all such questions have been answered to the full satisfaction of Holder. The Company has not
supplied Holder any information regarding the Securities or an investment in the Securities other than as contained in this
Agreement, and Holder is relying on its own investigation and evaluation of the Company and the Securities and not on any
other information.

 

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(b) The Holder is a limited liability
company duly organized, validly existing and in good standing under the laws of the state of its incorporation and has all requisite
corporate power and authority to carry on its business as now conducted. The Holder is duly qualified to transact business and
is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on its business
or properties.

 

(c) All limited liability company action has been taken
on the part of the

Holder, its officers, directors, managers and members
necessary for the authorization, execution and delivery of this Note. The Holder has taken all limited liability company action
required to make all of the obligations of the Holder reflected in the provisions of this Note, valid and enforceable obligations.

 

(d) Each certificate or instrument
representing Securities will be endorsed with the following legend (or a substantially similar legend), unless or until registered
under the 1933 Act or exempt from registration:

 

THE SECURITIES EVIDENCED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED
OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES, THE TRANSFER IS MADE
IN COMPLIANCE WITH RULE 144 PROMULGATED UNDER SUCH ACT OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE SECURITIES
WHICH IS REASONABLY SATISFACTORY TO THE COMPANY, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM
THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

 

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Section 5.00 General.

 

(a) Payment of Expenses.
The Company agrees to pay all reasonable charges and expenses, including attorneys' fees and expenses, which may be incurred by
the Holder in successfully enforcing this Note and/or collecting any amount due under this Note.

 

(b) Assignment, Etc.
The Holder may assign or transfer this Note to any transferee at its sole discretion. This Note shall be binding upon the
Company and its successors and shall inure to the benefit of the Holder and its successors and permitted assigns.

 

(c) Amendments.
This Note may not be modified or amended, or any of the provisions of this Note waived, except by written agreement of the Company
and the Holder.

 

(d) Funding Window. Purposely withheld

 

(e) Piggyback Registration
Rights. The Company shall include on the next registration statement that the Company files with the SEC (or on the subsequent
registration statement if such registration statement is withdrawn) all shares issuable upon conversion of this Note. Failure to
do so will result in liquidated damages of 30% of the outstanding Principal Sum of this Note, but not less than $20,000, being
immediately due and payable to the Holder at its election in the form of a cash payment or an addition to the Principal Sum of
this Note.

 

(f) Terms of Future Financings.
So long as this Note is outstanding, upon any issuance by the Company or any of its subsidiaries of any convertible debt security
(whether such debt begins with a convertible feature or such feature is added at a later date) with any term more favorable to
the holder of such security or with a term in favor of the holder of such security that was not similarly provided to the Holder
in this Note, then the Company shall notify the Holder of such additional or more favorable term and such term, at the Holder's
option, shall become a part of this Note and its supporting documentation.. The types of terms contained in the other security
that may be more favorable to the holder of such security include, but are not limited to, terms addressing conversion discounts,
terms addressing maturity, conversion look back periods, interest rates, original issue discount percentages and warrant coverage.

 

(g) Governing Law; Jurisdiction.

 

(i) Governing
Law. This Note will be governed by, and construed and interpreted in accordance with, the laws of the Commonwealth of Puerto
Rico without regard to any conflicts of laws or provisions thereof that would otherwise require the application of the law of
any other jurisdiction.

 

(ii) Jurisdiction
and Venue. Any dispute, claim, suit, action or other legal proceeding arising out of or relating to this Note or the rights
and obligations of each of the parties shall be brought only in the San Juan, Puerto Rico or in the federal courts of the United
States of America located in San Juan, Puerto Rico.

 

(iii) No
Jury Trial. The Company hereto knowingly and voluntarily waives any and all rights it may have to a trial by jury with respect
to any litigation based on, or arising out of, under, or in connection with, this Note.

 

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(iv) Delivery
of Process by the Holder to the Company. In the event of an action or proceeding by the Holder against the Company, and only
by the Holder against the Company, service of copies of summons and/or complaint and/or any other process that may be served in
any such action or proceeding may be made by the Holder via U.S. Mail, overnight delivery service such as FedEx or UPS, email,
fax, or process server, or by mailing or otherwise delivering a copy of such process to the Company at its last known attorney
as set forth in its most recent SEC filing.

 

(v) Notices. Any notice required or
permitted hereunder (including Conversion Notices) must be in writing and either personally served, sent by facsimile or
email transmission, or sent by overnight courier. Notices will be deemed effectively delivered at the time of transmission if
by facsimile or email, and if by overnight courier the business day after such notice is deposited with the courier service
for delivery.

 

(h) No Bad
Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act of 1933, as amended,
on the basis of being a “bad actor” as that term is established in the September 13, 2013 Small Entity Compliance
Guide published by the SEC.

 

(i) Usury.
If it shall be found that any interest or other amount deemed interest due hereunder violates any applicable law governing
usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest
permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to
claim or take advantage of any law that would prohibit or forgive the Company from paying all or a portion of the principal,
fees, liquidated damages or interest on this Note.

 

(j) Securities Laws Disclosure;
Publicity. The Company shall (a) by 9:30 a.m. Eastern Time on the 3rd Trading Day immediately following the Date
of Execution, issue a press release disclosing the material terms of the transactions contemplated hereby, and (b) file a Current
Report on Form 8-K with the SEC within the time required by the 1934 Act. From and after the filing of such press release, the
Company represents to the Holder that it shall have publicly disclosed all material, non-public information delivered to the Holder
by the Company, or any of its officers, directors, employees, or agents in connection with the transactions contemplated by this
Note. The Company and the Holder shall consult with each other in issuing any other press releases with respect to the transactions
contemplated hereby, and neither the Company nor the Holder shall issue any such press release nor otherwise make any such public
statement without the prior consent of the Company, with respect to any press release of the Holder, or without the prior consent
of the Holder, with respect to any press release of the Company, none of which consents shall be unreasonably withheld, delayed,
denied, or conditioned except if such disclosure is required by law, in which case the disclosing party shall promptly provide
the other party with prior notice of such public statement or communication. Notwithstanding the foregoing, the Company shall not
publicly disclose the name of the Holder, or include the name of the Holder in any filing with the SEC or any regulatory agency
or Principal Market, without the prior written consent of the Holder, except to the extent such disclosure is required by law or
Principal Market regulations, in which case the Company shall provide the Holder with prior notice of such disclosure permitted
hereunder.

 

The Company
agrees that this is a material term of this Note and any breach of this Section 5.00(j) will result in a default of the Note.

 

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(k) Attempted
Below-par Issuance. In the event that the Holder delivers a Conversion Notice to the Company and, if as of such date, (i)
the Conversion Price would be less than par value of the Company’s Common Stock and (ii) within three business days of the
delivery of the Conversion Notice, the Company shall not have reduced its par value such that all of the requested conversion
transaction may then be accomplished, then the Company and the Holder shall utilize the following conversion protocol for Par
Value Adjustment. The Holder shall transmit to the Company: (X) a “preliminary” Conversion Notice for the full number
of shares of Common Stock that would be issued at the Conversion Price without regard to any below-par value conversion issues;
followed by (Y) a “par value” Conversion Notice for the number of shares of Common Stock with the Conversion Price
increased from the “preliminary” Conversion Price to a Conversion Price at par value; and, finally, (Z) a “liquidated
damages” Conversion Notice for that number of shares of Common Stock that represents the difference between the “preliminary”
Conversion Notice full number of shares and the “par value” Conversion Notice limited number of shares. The Conversion
Price of such “liquidated damages Common Shares” would be the par value of the Common Stock. Accordingly, through
this protocol, the Company would issue, in two transactions, an amount of shares of its Common Stock equivalent to the full number
of shares of Common Stock that would have been issued in accordance with the “preliminary” Conversion Notice without
regard to any below-par value conversion issues. In the event that the Holder is precluded from exercising any or all of its conversion
rights hereunder as a result of a proposed “below par” conversion, the Company agrees that, in lieu of actual damages
for such failure, liquidated damages may be assessed and recovered by the Holder without being required to present any evidence
of the amount or character of actual damages sustained by reason thereof. The amount of such liquidated damages shall be an amount
equivalent to the trading price utilized in the “preliminary” Conversion Notice multiplied by the number of shares
calculated on the “liquidated damages” Conversion Notice. Such amount shall be assessed and become immediately due
and payable to the Holder (at its election) in the form of a (i) cash payment, (ii) an addition to the Principal Sum of this Note,
or (iii) the immediate issuance of that number of shares of Common Stock as calculated on the “liquidated damages”
Conversion Notice. Such liquidated damages are intended to represent estimated actual damages and are not intended to be a penalty,
but, by virtue of their genesis and subject to the election of the Holder (as set forth in the immediately preceding sentence),
will be automatically added to the Principal Sum of the Note and tack back to the Effective Date for purposes of Rule 144, as
the Company’s failure to maintain the par value of its Common Stock at an amount that would not result in a “below
par” conversion failure is equivalent to a default as of the Issuance Date of the Note.

 

[Signature
Page to Follow.]

 

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IN WITNESS WHEREOF, the
Company has caused this Convertible Promissory Note to be duly executed on the day and in the year first above written.

 

	 	BIOXYTRAN, INC. 
	 	 	 
	 	By: 	 
	 	Name:	David Platt
	 	Title:	CEO 
	 	Email:	david.platt@bioxytraninc.com 
	 	Address: 233 Needham St., Suite 300, Newton, MA
02464

 

This Convertible Promissory Note of October 23, 2019
is accepted this ___ day of                     ,
2019 by

 

	TANGIERS GLOBAL, LLC 	 
	 	 	 
	By: 	 	 
		Name:	 
		Title: Managing Member 	 

 

 

 

     

     

    

 

EXHIBIT A

 

FORM OF CONVERSION
NOTICE

 

(To be executed by the Holder
in order to convert all or part of that certain $106,300 Convertible Promissory Note identified as the Note)

 

	DATE:		 
	FROM:	Tangiers Global, LLC	 

 

		Re:	$106,300 Convertible Promissory Note (this “Note”)
originally issued by Bioxytran, Inc., a Nevada corporation, to Tangiers Global, LLC on October 23, 2019.

 

The undersigned, on behalf of
Tangiers Global, LLC, hereby elects to convert $_______________________ of the aggregate outstanding Principal Amount
(as defined in the Note) indicated below of this Note into shares of Common Stock, $0.001 par value per share, of Bioxytran, Inc.
(the “Company”), according to the conditions hereof, as of the date written below. If shares are to be issued
in the name of a person other than undersigned, the undersigned will pay all transfer taxes payable with respect thereto and is
delivering herewith such certificates and opinions as reasonably requested by the Company in accordance therewith. No fee will
be charged to the holder for any conversion, except for such transfer taxes, if any. The undersigned represents as of the date
hereof that, after giving effect to the conversion of this Note pursuant to this Conversion Notice, the undersigned will not exceed
the “Restricted Ownership Percentage” contained in this Note.

 

	Conversion information:	 
	 	Date to Effect Conversion 
	 	 
	 	 
	 	Aggregate Principal Sum of Note Being Converted 
	 	 
	 	 
	 	Aggregate Interest/Fees of Principal Amount Being Converted 
	 	 
	 	 
	 	Remaining Principal Balance 
	 	 
	 	 
	 	Number of Shares of Common Stock to be Issued 
	 	 
	 	 
	 	Applicable Conversion Price 
	 	 
	 	 
	 	Signature 
	 	 
	 	 
	 	Name 
	 	 
	 	 
	 	Address 

 

     

     

    

 

EXHIBIT B

 

WRITTEN CONSENT
OF THE BOARD OF DIRECTORS OF

 

BIOXYTRAN, INC.

 

The undersigned, being directors
of Bioxytran, Inc., a Nevada corporation (the “Company”), acting pursuant to the Bylaws of the Corporation, do hereby
consent to, approve and adopt the following preamble and resolutions:

 

Convertible Note with Tangiers
Global, LLC

 

The board of directors of the Company has reviewed
and authorized the following documents relating to the issuance of a Convertible Promissory Note in the amount of $106,300 with
Tangiers Global, LLC.

 

The documents agreed to and dated October 23, 2019 are
as follows:

 

8% Convertible Promissory Note of Bioxytran, Inc.

Irrevocable Transfer Agent Instructions

Certificate of Corporate Secretary

Disbursement Instructions

Schedule 1 - Use of Proceeds

 

The board of directors further
agree to authorize and approve the issuance of shares to the Holder at Conversion prices that are below the Company’s then
current par value.

 

IN WITNESS WHEREOF, the undersign
member(s) of the board of the Company executed this unanimous written consent as of October 23, 2019.

 

_________________________________

By: David Platt

Its: Chairman

     

     

    

 

EXHIBIT C

 

NOTARIZED CERTIFICATE
OF CORPORATE SECRETARY OF

 

BIOXYTRAN, INC.

 

(Two Pages)

 

The undersigned,
Ola Soderquist is the duly elected Corporate Secretary of Bioxytran, Inc., a Nevada corporation (the “Company”).

 

I hereby
warrant and represent that I have undertaken a complete and thorough review of the Company’s corporate and financial books
and records, including, but not limited to, the Company’s records relating to the following:

 

		(A)	The issuance of that certain convertible promissory note
dated October 23, 2019 (the “Note Issuance Date”) issued to Tangiers Global, LLC (the “Holder”)
in the stated original principal amount of $106,300 (the “Note”);

 

		(B)	The Company’s Board of Directors duly approved the
issuance of the Note to the Holder;

 

		(C)	The Company has not received and does not contemplate receiving
any new consideration from any persons in connection with any later conversion of the Note and the issuance of the Company’s
Common Stock upon any said conversion;

 

		(D)	To my best knowledge and after completing the aforementioned
review of the Company’s stockholder and corporate records, I am able to certify that the Holder (and the persons affiliated
with the Holder) are not officers, directors, or directly or indirectly, ten percent (10.00%) or more stockholders of the Company
and none of said persons has had any such status in the one hundred (100) days immediately preceding the date of this Certificate;

 

		(E)	The Company’s Board of Directors have approved duly
adopted resolutions approving the Irrevocable Instructions to the Company’s Stock Transfer Agent dated October 23, 2019;

 

		(F)	Mark the appropriate selection:

 

☒ The Company
represents that it is not a “shell company,” as that term is defined in Section 12b-2 of the Securities
Exchange Act of 1934, as amended, and has never been a shell company, as so defined; or

 

☐ The Company
represents that (i) it was a “shell company,” as that term is defined in Section 12b-2 of the Securities
Exchange Act of 1934, as amended, (ii) since ______, 201__, it has no longer been a shell company, as so defined, and (iii)
on _______, 201__, it provided Form 10-type information in a filing with the United States Securities and Exchange
Commission.

 

     

     

    

 

		(G)	I understand the constraints imposed under Rule 144 on
those persons who are or may be deemed to be “affiliates,” as that term is defined in Rule 144(a)(1) of the
Securities Act of 1933, as amended.

 

		(H)	I understand that all of the representations set forth
in this Certificate will be relied upon by counsel to Tangiers Global, LLC in connection with the preparation of a legal opinion.

 

I hereby
affix my signature to this Notarized Certificate and hereby confirm the accuracy of the statements made herein.

 

	Signed:	 	 	Date:
    	 
	 	 	 	 	 
	Name:	Ola Soderquist	 	Title: 	CFO, Secretary

 

SUBSCRIBED
AND SWORN TO BEFORE ME ON THIS ________ DAY OF ____________________ 2019.

 

Commission Expires:______________

 

____________________________________

Notary Public

 

     

     

    

 

EXHIBIT D

 

	TO:	Tangiers Global, LLC
	FROM:	Bioxytran, Inc.
	DATE:	October 23, 2019
	RE:	Disbursement of Funds

 

Pursuant to that certain Convertible
Promissory Note between the parties listed above and dated October 23, 2019, a disbursement of funds will take place in the amount
and manner described below:

 

	Please
    disburse to:	 
	Amount to disburse:	$100,000
	Form of distribution	Wire
	Name	Bioxytran, Inc.
	Company Address	
        233 Needham St.

        Suite 300

        Newton, MA 02464

	Wire Instructions:	
        Bank: Bank of America

        ABA Routing Number: 026 009 593

        Account Number: 4660 0130 2972

        SWIFT Code: BOFAUS3N

        Account Name: Bioxytran, Inc.

        Phone: (800) 432-1000

 

TOTAL: $100,000

 

	For: Bioxytran, Inc. 	 	 
	 	 	 	 
	By:	 	 	Dated: October 23, 2019
	Name: 	David Platt	 	 
	Its:	CEO	 	 

     

     

    

 

EXHIBIT E

 

COMPANY CAPITALIZATION
TABLE AS OF OCTOBER 23, 2019

 

COMMON STOCK AND
COMMON STOCK EQUIVALENTS

ISSUED, OUTSTANDING
AND RESERVED

 

	DESCRIPTION	 	AMOUNT	 
	Authorized Common Stock	 	 	300,000,000	 
	Authorized Capital Stock	 	 	0	 
	Authorized Common Stock	 	 	300,000,000	 
	Issued Common Stock	 	 	85,319,673	 
	Outstanding Common Stock	 	 	85,319,673	 
	Treasury Stock	 	 	0	 
	*Authorized, but unissued	 	 	210,951,744	 
	 	 	 	 	 
	Authorized Preferred Stock	 	 	50,000,000	 
	Issued Preferred Stock	 	 	0	 
	 	 	 	 	 
	Reserved for Equity Incentive Plans	 	 	0	 
	Reserved for Convertible Debt (Included under *Authorized)	 	 	210,435,068	 
	Reserved for Options and Warrants (516,666 incl in *Authorized)	 	 	812,666	 
	Reserved for Other Purposes	 	 	0	 
	 	 	 	 	 
	TOTAL COMMON STOCK AND COMMON STOCK EQUIVALENTS OUTSTANDING	 	 	296,567,417	 

 

* This number includes all shares
reserved for Convertible Debt

 

Note: If not applicable, enter “n/a” or “zero” in Column 2.

 

     

     

    

 

CURRENT DEBT AND
LIABILITIES TABLE

 

CONVERTIBLE PROMISSORY
NOTE BALANCES AND PROMISSORY NOTE

 BALANCES

 

	DESCRIPTION	 	ISSUANCE DATE	 	 	AMOUNT	 
	Convertible Promissory Note	 	 	10/25/2018	*	 	 	250,000	 
	 	 	 	2/24/2019	*	 	 	250,000	 
	 	 	 	10/23/2019	 	 	 	108,000	 
	 	 	 	10/23/2019	 	 	 	110,000	 
	 	 	 	10/23/2019	 	 	 	120,000	 
	 	 	 	10/23/2019	 	 	 	300,000	 
	Promissory Note	 	 	 	 	 	 	n/a	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Other Debt and Liabilities	 	 	 	 	 	 	n/a	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

*Will be paid off on 10/24/2019

Note: If not applicable, enter “n/a” or
“zero” in Column 2.

 

To my best
knowledge and after completing the aforementioned review of the Company’s stockholder and corporate records, I am able to
certify the accuracy of the statements made herein.

 

	BIOXYTRAN, INC. 	 	 
	 	 	 	 
	By:	 	 	Dated: October 23, 2019
	Name: 	David Platt	 	 
	Title:	CEO 	 	 

 

     

     

    

 

SCHEDULE 1

 

USE OF PROCEEDS

 

Pursuant to that certain Convertible
Promissory Note between the parties listed above and dated October 23, 2019, the Company covenants that it will within, 1
month(s) of the Effective Date of the Note, it shall use approximately $100,000 of the proceeds in the manner set forth
below (the “Use of Proceeds”):

 

Partial Pay off convertible note issued on 10/25/2018

 

 

 

 

 

 

 

 

 

 

 

	BIOXYTRAN,
    INC. 	 	 
	 	 	 	 
	By:	 	 	Dated: October 23, 2019
	Name: 	David Platt	 	 
	Title:	CEOExhibit
10.32

 

NEITHER
THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,

 

ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

 

BIOXYTRAN,
INC.

 

	Warrant Shares: 50,000	Initial Exercise Date: October 23, 2019

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, Tangiers Global, LLC, a Wyoming
limited liability company, or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations
on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise
Date”) and on or prior to 5 PM New York City Time on October 23, 2024 (the “Termination Date”) but
not thereafter, to subscribe for and purchase from Bioxytran, Inc., a Nevada corporation (the “Company”), up
to 50,000 shares (as subject to adjustment hereunder, the “Warrant Shares”) of the Company’s Common
Stock (the “ Common Stock”). The purchase price of one share of Common Stock under this Warrant shall be equal
to the Exercise Price, as defined in Section 1.00(b). This Warrant is being issued with connection with a Convertible Promissory
Note in the original aggregate principal amount of $106,300 issued to the Holder on October 23, 2019 (the “Note”).

 

Section
1.00 Exercise.

 

a)
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any
time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such
other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the
Holder appearing on the books of the Company) of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise
in the form annexed hereto (each, a “Notice of Exercise”) and within five (5) Trading Days of the date said
Notice of Exercise is delivered to the Company, the Company shall have received payment of the aggregate Exercise Price of the
shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank or, if available, pursuant to
the cashless exercise procedure specified in Section 1.00(c) below. No ink-original Notice of Exercise shall be required, nor
shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the
Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case,
the Holder shall surrender this Warrant to the Company for cancellation within five (5) Trading Days of the date the final Notice
of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number
of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder
in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing
the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of
Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant,
acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant
Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount
stated on the face hereof.

 

    1

     

    

 

b)
Exercise Price. The exercise price per share of the Common Stock under this Warrant shall initially be $2.00, subject to
adjustment under Section 1.00(c) (the “Exercise Price”).

 

c)
Cashless Exercise. If at any time after the six month anniversary of the Initial Exercise Date, there is no effective Registration
Statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant
may only be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall
be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

	 	(A)	=	the
    VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless
    exercise,” as set forth in the applicable Notice of Exercise;

 

	 	(B)
    	=
    	the
    Exercise Price of this Warrant, as adjusted hereunder; and

 

	 	(X)	=	the
    number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant
    if such exercise were by means of a cash exercise rather than a cashless exercise.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section
3.00(a)(9) of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and
the holding period of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares. The Company
agrees not to take any position contrary to this Section 2.00(c).

 

“Trading
Day” shall mean a day on which there is trading or quoting for any security on the Principal Market.

 

    2

     

    

 

“VWAP” means,
for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based
on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not
a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on
OTCQB or OTCQX as applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if
prices for the Common Stock are then reported in the “Pink Sheets” published by OTC Markets, Inc. (or a similar
organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common
Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an
independent appraiser selected in good faith by the Holders of a majority in interest of the Securities then outstanding and
reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise
pursuant to this Section 1.00(c).

 

d)
Mechanics of Exercise.

 

i.
Delivery of Warrant Shares Upon Exercise. Warrant Shares purchased hereunder shall be transmitted by the Transfer Agent to
the Holder by crediting the account of the Holder’s or its designee’s balance account with the Depository Trust Company
(“DTC”) through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is
then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant
Shares to or resale of the Warrant Shares by the Holder or (B) the Warrant Shares are eligible for resale by the Holder without
volume or manner-of-sale limitations pursuant to Rule 144, and otherwise by physical delivery of a certificate, registered in
the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder
is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is five
(5) Trading Days after the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery
Date”). The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named
therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been
exercised, with payment to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to
be paid by the Holder, if any, pursuant to Section 1.00(d)(vi) prior to the issuance of such shares, having been paid.

 

ii.
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of a Holder, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder
to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical
with this Warrant.

 

    3

     

    

 

iii.
Rescission Rights. If the Company fails to cause its transfer agent to transmit to the Holder the Warrant Shares pursuant
to Section 1.00(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at Holder’s sole election, either pay a cash adjustment in respect of such final fraction in an amount equal
to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

v.
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of Warrant Shares, all of which taxes and expenses shall be paid by
the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by
the Holder; provided, however, that in the event that Warrant Shares are to be issued in a name other than the name
of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed
by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer
tax incidental thereto. The Company shall pay all transfer agent fees required for same-day processing of any Notice of Exercise
and all fees to DTC (or another established clearing corporation performing similar functions) required for same-day electronic
delivery of the Warrant Shares.

  

vi.
Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

    4

     

    

 

e)
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not
have the right to exercise any portion of this Warrant, pursuant to Section 2.00 or otherwise, to the extent that after giving
effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s
affiliates, and any other persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially
own in excess of the “Beneficial Ownership Limitation” (as defined below). For purposes of the foregoing sentence,
the number of shares of Common Stock beneficially owned by the Holder and its affiliates shall include the number of shares of
Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude
the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this
Warrant beneficially owned by the Holder or any of its affiliates; and (ii) exercise or conversion of the unexercised or nonconverted
portion of any other securities of the Company, including, without limitation, any other Common Stock Equivalents (“Common
Stock Equivalents”), subject to a limitation on conversion or exercise analogous to the limitation contained herein
beneficially owned by the Holder or any of its affiliates. Except as set forth in the preceding sentence, for purposes of this
Section 1.00(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934,
as amended (the “1934 Act”), and the rules and regulations promulgated thereunder, it being acknowledged by
the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the
1934 Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that
the limitation contained in this Section 1.00(e) applies, the determination of whether this Warrant is exercisable (in relation
to other securities owned by the Holder together with any affiliates) and of which portion of this Warrant is exercisable shall
be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination
of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any affiliates) and
of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the 1934 Act and the rules and regulations
promulgated thereunder. For purposes of this Section 1.00(e), in determining the number of outstanding shares of Common Stock,
a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic
or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a
more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.
Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder
the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be
determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder
or its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial
Ownership Limitation” shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company,
may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2.00(e), provided that the Beneficial
Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section
1.00(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st
day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in
a manner otherwise than in strict conformity with the terms of this Section 1.00(e) to correct this paragraph (or any portion
hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes
or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph
shall apply to a successor holder of this Warrant.

 

    5

     

    

 

Section
2.00 Certain Adjustments.

 

a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be equitably adjusted in the event of a forward split, stock dividend, or the like, but shall not be adjusted in the event
of a reverse split, recombination, or the like.

 

b)
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 2.00(a) above, if at any time the Company
grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata
to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will
be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate proportion of Purchase Rights which the
Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this
Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or
sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase
Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right
to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its
right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

c)
Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend
or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of
capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options
by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction)
(a "Distribution"), at any time after the issuance of this Warrant, then, in each such case, the Holder shall
be entitled to participate in such proportion of the Distribution to the same extent that the Holder would have participated therein
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard
to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the
date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders
of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to
the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial
Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial
ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution
shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the
Holder exceeding the Beneficial Ownership Limitation).

 

    6

     

    

 

d)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in
one or more related transactions effects any merger or consolidation of the Company with or into another person, (ii) the Company,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Company or another person) is completed pursuant to which holders of Common Stock are permitted to sell,
tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of
the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is
effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in
one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without
limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another person or group of persons whereby
such other person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common
Stock held by the other person or other persons making or party to, or associated or affiliated with the other persons making
or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would
have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the
Holder (without regard to any limitation in Section 1.00(e) on the exercise of this Warrant), the number of shares of Common Stock
of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration
(the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number
of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard
to any limitation in Section 1.00(e) on the exercise of this Warrant). For purposes of any such exercise, the determination of
the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise
Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the
Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of
a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder’s option, exercisable
at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction, purchase this Warrant
from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value of the remaining unexercised portion
of this Warrant on the date of the consummation of such Fundamental Transaction. “Black Scholes Value” means
the value of this Warrant based on the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg,
L.P. (“Bloomberg”) determined as of the day of consummation of the applicable Fundamental Transaction for pricing
purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between
the date of the public announcement of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility
equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately
following the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation
shall be the sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being
offered in such Fundamental Transaction and (D) a remaining option time equal to the time between the date of the public announcement
of the applicable Fundamental Transaction and the Termination Date. The Company shall cause any successor entity in a Fundamental
Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the
obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section
3.00(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder
(without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder
in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form
and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity
(or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without
regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which
applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares
of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares
of capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior
to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder.
Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that
from and after the date of such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring
to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company
and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect
as if such Successor Entity had been named as the Company herein.

 

    7

     

    

 

e) Calculations.
All calculations under this Section 2.00 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may
be. For purposes of this Section 2.00, the number of shares of Common Stock deemed to be issued and outstanding as of a given
date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and
outstanding.

 

f)
Notice to Holder.

 

i.
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 2.00, the
Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever
form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the
Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe
for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the
Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which
the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory
share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall
authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each
case, the Company shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register of
the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice
stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or
warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to
such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such
reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the
date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the
Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing thereof
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice
provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of
the Subsidiaries, the Company shall simultaneously file such notice with the United States Securities and Exchange Commission
(the “SEC”) pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice
except as may otherwise be expressly set forth herein.

  

    8

     

    

 

Section
3.00 Transfer of Warrant.

 

a)
Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 3.00(d)
hereof, this Warrant and all rights hereunder are transferable, in whole or in part, together with a written assignment of this
Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to
pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company
shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary,
the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant
in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder
delivers an assignment form to the Company assigning this Warrant full. The Warrant, if properly assigned in accordance herewith,
may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

b)
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 3.00(a), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated
the original Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c)
Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution
to the Holder, and for all other purposes, absent actual notice to the contrary.

 

d)
Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant,
the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities
Act of 1933, as amended (the “Securities Act”) and under applicable state securities or blue sky laws or (ii)
eligible for resale without volume or manner-of-sale restrictions or current public information requirements pursuant to Rule
144, the Company may require, as a condition of allowing such transfer, that the Holder or transferee of this Warrant, as the
case may be, make usual and customary representations as to investment intent to the Company

 

e)
Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant
and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a
view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable
state securities law, except pursuant to sales registered or exempted under the Securities Act.

 

Section
4.00 Miscellaneous.

 

a)
No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other
rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 1.00(d)(i), except as expressly set
forth in Section 2.00.

 

    9

     

    

 

b)
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

c)
Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right
required or granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next
succeeding Business Day.

 

d)
Authorized Shares. The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized
and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of
any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full
authority to its officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase
rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares
may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading
Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise
of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and
payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free
from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer
occurring contemporaneously with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without
limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such
terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth
in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the
par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in
par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally
issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable
efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction
thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be
necessary from any public regulatory body or bodies having jurisdiction thereof. The Company covenants that it will at all times
reserve and keep available for Holder, out of its authorized and unissued Common Stock solely for the purpose of issuance upon
exercise of this Warrant, free from preemptive rights or any other actual contingent purchase rights of persons other than the
Holder, the number of shares of Common Stock as shall be issuable (taking into account the adjustments under this Section 2.00,
but without regard to any ownership limitations contained herein) upon the exercise of this Warrant, including any adjustments
to the Exercise Price contained herein, to Common Stock (the “Required Reserve”). The Company covenants that
all shares of Common Stock that shall be issuable will, upon issue, be duly authorized, validly issued, fully-paid, nonassessable
and freely-tradable (if eligible).

 

    10

     

    

 

e)
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be determined in accordance with the laws of the State of Nevada as they are applied to contracts executed, delivered and to be
wholly performed within the State of Nevada.

 

f)
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered
and if the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities
laws.

 

g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding
the fact that all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with
any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts
as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including
those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing
any of its rights, powers or remedies hereunder.

 

h)
Notices. Any notice, request or other document required or permitted to be given or delivered to the either party to the
other shall be delivered in by recognized overnight courier, facsimile or email as follows:

 

	 	If
    to the Investor:	Tangiers
    Global, LLC
	 	 	Caribe
    Plaza Office Building 6th Floor
	 	 	Palmeras
    St. #53
	 	 	San
    Juan, PR 00901
	 	 	Email:
    admin@tangierscapital.com
	 	 	 
	 	If
    to the Company:	Bioxytran,
    Inc.
	 	 	233
    Needham Street, Suite 300
	 	 	Newton
    MA, 02464
	 	 	Attn:
    David Platt
	 	 	Email:
    David.Platt@bioxytraninc.ocm

 

    11

     

    

 

i)
Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant
to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability
of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted
by the Company or by creditors of the Company.

 

j)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby
shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted
assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant
and shall be enforceable by the Holder or holder of Warrant Shares.

 

k)
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company
and the Holder.

 

l)
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Warrant.

 

m)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant.

 

********************

 

[Signature
Page to Follow.]

 

    12

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

	 	BIOXYTRAN,
    INC.
	 	 	 
	 	By:	                     
	 	Name: David Platt
	 	Title: CEO

  

    13

     

    

 

NOTICE
OF EXERCISE

 

TO:
BIOXYTRAN, INC.

 

(1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached
Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable
transfer taxes, if any.

 

(2)
Payment shall take the form of (check applicable box):

 

☐ in
lawful money of the United States; or

 

☐ if
permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subSection
1.00(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subSection 1.00(c).

 

(3)
Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The
Warrant Shares shall be delivered to the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under
the Securities Act of 1933, as amended.

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: ________________________________________________________________________

 

Signature
of Authorized Signatory of Investing Entity: _________________________________________________

 

Name
of Authorized Signatory: ___________________________________________________________________

 

Title
of Authorized Signatory: ____________________________________________________________________

 

Date:
________________________________________________________________________________________

 

     

     

    

 

EXHIBIT
B

 

ASSIGNMENT
FORM

 

(To
assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 
	 	 
	 	(Please
    Print)
	 	 
	Address:	 
	 	 
	 	(Please
    Print)
	 	 

 

Dated:

 

_______________
__, ______

 

 

Holder’s
Signature: _____________________

 

Holder’s
Address:

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