Document:

Exhibit 10.13

 

AMENDMENT TO LICENSE AGREEMENT

 

This AMENDMENT TO LICENSE AGREEMENT (this “Amendment”) is entered into on August 6, 2015 by and between OPTINOSE AS, a Norwegian corporation, company registration number 982483131 (“OptiNose”), with its principal place of business at Tore Hals Mejdells vei 7, 0751 Oslo, Norway, and its postal address at Pb 288 Roa, 0702 Oslo, Norway, and AVANIR PHARMACEUTICALS, INC., a Delaware corporation (“Avanir”), with offices at 30 Enterprise, Suite 400, Aliso Viejo, CA 92656, U.S.A. OptiNose and Avanir are sometimes referred to herein as a “Party” and collectively as the “Parties.”

 

RECITALS

 

WHEREAS, the Parties entered into a certain License Agreement dated July 1, 2013 (the “Agreement”); and

 

WHEREAS, the Parties desire to amend the Agreement as set forth herein.

 

AMENDMENT

 

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

 

1.             Section 8.2(a) of the Agreement is hereby amended and restated in its entirety as follows:

 

“(a) Development Milestone Payments. Avanir shall make the following one-time milestone payments to OptiNose based on the achievement by Avanir, its Affiliate or sublicensee (or with respect to the Successful Completion of the Head to Head Trial, the achievement by OptiNose or its Affiliates) of each of the milestone events set forth below by a Product covered by a Valid Claim (each, a “Development Milestone”) and in accordance with Section 8.2(c) below (except as expressly provided in the table below with respect to the first Development Milestone). For clarity, each milestone payment by Avanir to OptiNose under this Section 8.2(a) shall be payable only once, regardless of the number of times achieved, and in no event shall the aggregate amount to be paid by Avanir under this Section 8.2(a) exceed Fifty Million Dollars ($50,000,000).

 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

 

	
Milestone
   No.
    	
 
    	
Milestone Event
    	
 
    	
Milestone Payment
    
	
1
    	
 
    	
Successful Completion   of the Head to Head Trial
    	
 
    	
$10,000,000, payable as follows:
    
	
 
    	
 
    	
 
    	
 
    	
 

(a) $2,500,000, following the achievement of   such Development Milestone event; and
    
	
 
    	
 
    	
 
    	
 
    	
(b) $7,500,000, following receipt of the first   Regulatory Approval for such a Product in the United States;

 
    
	
 
    	
 
    	
 
    	
 
    	
provided that, the foregoing payments (i.e., a total   payment of $10,000,000) shall be made at the same time if Successful   Completion of the Head to Head Trial is achieved following receipt of the   first Regulatory Approval for a Product in the United States.
    
	
2
    	
 
    	
Receipt of the first   Regulatory Approval for such a Product in the United States
    	
 
    	
$30,000,000
    
	
3
    	
 
    	
Receipt of the first   Regulatory Approval for such a Product in the United States
    	
 
    	
$10,000,000
    

 

For the avoidance of doubt, the Parties acknowledge that the Successful Completion of the Head to Head trial has occurred as of the date of this Amendment, and Avanir has paid OptiNose $2,500,000 in accordance with the table above.”

 

2.             Abatement of Certain Royalties.  Section 8.3(c) of the Agreement is hereby amended by adding the following sentences at the end of said Section:

 

“Notwithstanding anything to the contrary herein, no Royalty shall be due or payable under this Agreement with respect to Net Sales on one or more Products on the first [***] of cumulative Net Sales of all Products. The royalty abatement described in the foregoing sentence shall apply only once. For the avoidance of doubt, in the Contract Year in which [***] in cumulative Net Sales on any and all Products is achieved, the Royalty Rate tier(s) in Section 8.3(a) shall be determined based on total Annual Net Sales in that Contract Year (including any portion of Net Sales that is part of the [***] in cumulative Net Sales), but Royalties shall be due only on Net Sales in that Contract Year over [***] in Cumulative Net Sales.

 

3.             General Provisions. To the extent that capitalized terms are used in this Amendment without being defined herein, the respective definitions set forth in the Agreement shall apply. This Amendment may be executed in multiple counterparts, each of which shall be

 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 

 

deemed an original and all of which together shall constitute one and the same instrument. This Amendment shall form a part of the Agreement for all purposes, and each Party thereto and hereto shall be bound hereby. From and after the execution of this Amendment by the Parties hereto, any reference to the Agreement shall be deemed a reference to the Agreement as amended hereby. Except as set forth herein, the Agreement shall remain unchanged and in full force and effect in accordance with its terms. This Amendment shall be governed by and construed in accordance with the laws of and in the applicable courts located within the State of Delaware (as specified in the Agreement) without giving effect to any choice of law principles that would require the application of the Laws of a different jurisdiction.

 

IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date set forth above.

 

	
AVANIR   PHARMACEUTICALS, INC.
    	
 
    	
OPTINOSE   AS
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   James R. Beitel
    	
 
    	
By:
    	
/s/   Peter Miller
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name:
    	
James   R. Beitel
    	
 
    	
Name:
    	
Peter   Miler
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title:
    	
VP, Corp.   Development & Strategy
    	
 
    	
Title:
    	
Chief   Executive Officer
    

 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.Exhibit 10.1

 

EQUITY FINANCING AGREEMENT

 

This EQUITY FINANCING AGREEMENT
(this "Agreement"), dated as of May 23, 2017 (the "Execution Date"), is entered into by and between Financial
Gravity Companies, Inc., a Nevada corporation with its principal executive office at 800 N. Watters Road, Suite 120, Allen, TX
75013 (the "Company"), and GHS Investments, LLC, a Nevada limited liability company, with offices at 420 Jericho Turnpike,
Suite 207, Jericho, NY 11753 (the "Investor").

 

RECITALS:

 

WHEREAS, the parties desire
that, upon the terms and subject to the conditions contained herein, the Investor shall invest up to Eleven Million Dollars ($11,000,000)
(the "Commitment Amount"), from time to time over the course of thirty-six (36) months after an effective registration
of the underlying shares (the "Contract Period") to purchase the Company's common stock, par value $.001 per share (the
"Common Stock");

 

WHEREAS, such investments
will be made in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933,
as amended (the "1933 Act"), Rule 506 of Regulation D promulgated by the SEC under the 1933 Act, and/or upon such
other exemption from the registration requirements of the 1933 Act as may be available with respect to any or all of the investments
in Common Stock to be made hereunder; and

 

WHEREAS, contemporaneously
with the execution and delivery of this Agreement, the parties hereto are executing and delivering a Registration Rights Agreement
substantially in the form attached hereto as Exhibit A  (the "Registration Rights Agreement") pursuant
to which the Company has agreed to provide certain registration rights under the 1933 Act, and the rules and regulations promulgated
thereunder, and applicable state securities laws.

 

NOW THEREFORE, in consideration
of the foregoing recitals, which shall be considered an integral part of this Agreement, the covenants and agreements set forth
hereafter, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company
and the Investor hereby agree as follows:

 

SECTION I.

DEFINITIONS

 

For all purposes of and
under this Agreement, the following terms shall have the respective meanings below, and such meanings shall be equally applicable
to the singular and plural forms of such defined terms.

 

"1933 Act" shall have the meaning set forth in
the recitals.

 

"1934 Act" shall mean the
Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations of the SEC thereunder,
all as the same will then be in effect.

 

"Affiliate" shall have the meaning set forth in
Section 5.7.

 

"Agreement" shall have the meaning set forth in
the preamble.

 

"Articles of Incorporation" shall have the meaning
set forth in Section 4.3.

 

 

 

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"By-laws" shall have the meaning
set forth in Section 4.3.

 

"Closing" shall have the meaning
set forth in Section 2.4.

 

"Closing Date" shall have the meaning
set forth in Section 2.4.

 

"Commitment Fee" shall have the
meaning set forth in Section 2.7.

 

"Common Stock" shall have the meaning
set forth in the recitals.

 

"Control" or "Controls"
shall have the meaning set forth in Section 5.7.

 

"Effective Date"
shall mean the date the SEC declares effective under the 1933 Act the Registration Statement covering the Shares.

 

"Environmental Laws" shall have
the meaning set forth in Section 4.13.

 

"Execution Date" shall have the
meaning set forth in the preamble.

 

"Indemnified Liabilities" shall
have the meaning set forth in Section 10.

 

"Indemnitees" shall have the meaning
set forth in Section 10.

 

"Indemnitor" shall have the meaning
set forth in Section 10.

 

"Ineffective Period"
shall mean any period of time that the Registration Statement or any supplemental registration statement becomes ineffective
or unavailable for use for the sale or resale, as applicable, of any or all of the Registrable Securities (as defined in the Registration
Rights Agreement) for any reason (or in the event the prospectus under either of the above is not current and deliverable) during
any time period required under the Registration Rights Agreement.

 

"Investor" shall have the meaning
set forth in the preamble.

 

"Market Price"
shall mean the average of the two lowest trading prices of the Company's Common Stock during the Pricing Period.

 

"Material Adverse Effect" shall
have the meaning set forth in Section 4.1.

 

"Maximum Common Stock Issuance" shall have the meaning set forth
in Section 2.5.

 

"Open Period"
shall mean the period beginning on and including the Trading Day immediately following the Effective Date and ending on the
earlier to occur of (i) the date which is thirty six (36) months from the Effective Date; or (ii) termination of this Agreement
in accordance with Section 8.

 

"Pricing Period"
shall mean ten (10) consecutive trading days preceding the receipt of the applicable Put Notice.

 

 

 

 

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"Principal Market" shall mean
the New York Stock Exchange, the NYSE Amex, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the OTC Markets or the OTC Bulletin Board, whichever is the principal market on which the Common Stock is listed.

 

"Prospectus" shall mean the
prospectus, preliminary prospectus and supplemental prospectus used in connection with the Registration Statement.

 

"Purchase Amount" shall mean
the total amount being paid by the Investor on a particular Closing Date to purchase the Shares.

 

"Purchase Price" shall mean eighty percent (80%)
of the Market Price.

 

"Put" shall mean the Company
is entitled to request equity investments (the "Put" or "Puts") by the Investor during the Contract Period,
pursuant to which the Company will issue Common Stock to the Investor with an aggregate Purchase Price equal to the value of the
Put, subject to a price per share calculation based on the Market Price.

 

"Put Amount" shall mean the
total dollar amount requested by the Company pursuant to an applicable Put. The timing and amounts of each Put shall be at the
discretion of the Company. The maximum dollar amount of each Put will not exceed two hundred percent (200%) of the average of the
daily trading dollar volume for the Company's Common Stock during the ten (10) trading days preceding the Put Notice Date. No Put
will be made in an amount greater than two hundred and fifty thousand dollars ($250,000). Puts are further limited to the Investor
owning no more than 9.99% of the outstanding stock of the Company at any given time.

 

"Put Notice" shall mean a
written notice sent to the Investor by the Company stating the Put Amount in U.S. dollars that the Company intends to sell to the
Investor pursuant to the terms of this Agreement and stating the current number of Shares issued and outstanding on such date.

 

"Put Notice Date" shall mean
the Trading Day, as set forth below, on which the Investor receives a Put Notice.

 

"Put Restriction" shall mean
a minimum of ten (10) days following a Put Notice Date. During this time, the Company shall not be entitled to deliver another
Put Notice.

 

"Put Shares Due" shall have the meaning set forth
in Section 2.4.

 

"Registered Offering Transaction Documents"
shall mean this Agreement and the Registration Rights Agreement between the Company and the Investor as of the date herewith.

 

"Registration Rights Agreement" shall have the
meaning set forth in the recitals.

 

"Registration Statement" means
the registration statement of the Company on Form S-1 filed under the 1933 Act covering the Shares issuable hereunder.

 

"Related Party" shall have the meaning set forth
in Section 5.7 .

 

"Resolution" shall have the meaning set forth in
Section 7.5 .

 

"SEC" shall mean the U.S. Securities and Exchange
Commission.

 

 

 

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"SEC Documents"
shall have the meaning set forth in Section 4.6 .

 

"Settlement Date" shall have the meaning set forth
in Section 6.2.

 

"Shares" shall
mean the shares of the Company's Common Stock issued pursuant to the terms of this Agreement.

 

"Subsidiaries" shall have the meaning
set forth in Section 4.1.

 

"Trading Day"
shall mean any day on which the Principal Market for the Common Stock is open for trading, from the hours of 9:30 am until
4:00 pm.

 

SECTION II

PURCHASE AND SALE OF COMMON
STOCK

 

2.1PURCHASE AND SALE OF COMMON STOCK.
Subject to the terms and conditions set forth herein, the Company shall issue and sell to the Investor, and the Investor shall
purchase from the Company, up to that number of Shares having an aggregate Purchase Price of Eleven Million Dollars ($11,000,000).

 

2.2DELIVERY OF PUT NOTICES. Subject
to the terms and conditions herein, and from time to time during the Open Period, the Company may, in its sole discretion, deliver
a Put Notice to the Investor which states the dollar amount (designated in U.S. Dollars), which the Company intends to sell to
the Investor on a Closing Date (the "Put"). The Put Notice shall be in the form attached hereto as Exhibit
C and incorporated herein by reference. The price of the Put shall be eighty (80%) percent of the "Market Price",
which is the average of the two lowest trading prices of the Company's Common Stock during the ten (10) consecutive trading days
preceding the Put Notice Date, and such time frame is referred to as the Pricing Period. During the Open Period, the Company shall
not be entitled to submit a Put Notice until after the previous Closing has been completed. There will be a minimum of ten (10)
trading days between Put Notices.

 

2.3 CONDITIONS
TO INVESTOR'S OBLIGATION TO PURCHASE SHARES .Notwithstanding anything to the contrary in this Agreement, the Company shall
not be entitled to deliver a Put Notice and the Investor shall not be obligated to purchase any Shares at a Closing unless all
of the following conditions are satisfied:

 

		i.	a Registration Statement shall have been declared effective and shall remain effective and available
for the resale of all the Registrable Securities (as defined in the Registration Rights Agreement) at all times until the Closing
with respect to the subject Put Notice;

 

		ii.	at all times during the period beginning on the related Put Notice Date and ending on and including
the related Closing Date, the Common Stock shall have been listed or quoted for trading on the Principal Market and shall not have
been suspended from trading thereon for a period of two (2) consecutive Trading Days during the Open Period, and the Company shall
not have been notified of any pending or threatened proceeding or other action to suspend the trading of the Common Stock;

 

 

 

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		iii.	the Company has complied with its obligations and is otherwise not in breach of or in default under,
this Agreement, the Registration Rights Agreement or any other agreement executed between the parties, which has not been cured
prior to delivery of the Investor's Put Notice Date;

 

		iv.	no injunction shall have been issued and remain in force, and no action has been commenced by a
governmental authority which has not been stayed or abandoned, prohibiting the purchase or the issuance of the Shares;

 

		v.	the Company has received commitments from the Section 16 officers of the Company, to not participate
in any trading of the Common Stock during the ten (10) trading days following each Closing Date; and

 

		vi.	the issuance of the Shares will not violate any shareholder approval requirements of the Principal Market.

 

If any of the events described
in clauses (i) through (v) above occurs during a Pricing Period, then the Investor shall have no obligation to purchase the Put
Amount of Common Stock set forth in the applicable Put Notice.

 

2.4MECHANICS OF PURCHASE OF SHARES BY INVESTOR .
Subject to the satisfaction of the conditions set forth in Sections 2.5, 7 and 8 of this Agreement, at the end of the Pricing Period,
the Purchase Price shall be established and, at Closing, the number of Put Shares shall be delivered for a particular Put.

 

Each Closing ("Closing")
of a Put shall occur upon the first Trading Day following the completion of the Pricing Period (such date, the "Closing Date".
On each Closing Date, (i) the Company shall cause the Transfer Agent to electronically transmit the applicable Put Shares by crediting
the account of the Investor's broker with DTC through its Deposit Withdrawal Agent Commission ("DWAC") system, (ii) the
Investor's broker shall have received and approved the Put Shares (via confirmation in writing), and (iii) the Investor shall deliver
the Investment Amount specified in the Put Notice by wire transfer of immediately available funds to an account designated by the
Company. In addition, on or prior to each Closing Date, each of the Company and Investor shall deliver to each other all documents,
instruments and writings required to be delivered or reasonably requested by either of them pursuant to this Agreement in order
to implement and effect the transactions contemplated herein.

 

In the event that (i) a
Section 16 officer of the Company participates in any trading of the Common Stock during the ten (10) trading days following a
Closing Date (the "Trading Period") and (ii) at the time of such trading, the Investor then holds any Shares issued pursuant
to a Put Notice (the "Trading Period Shares"), then the Company shall issue additional Shares to the Investor on the
Trading Day immediately following the Trading Period (by crediting the account of the Investor's broker with DTC through its DWAC
system). The number of such additional Shares shall be determined by adjusting the Purchase Price (for that portion of the Put
represented by the Trading Period Shares) to equal the lowest volume-weighted average price of the Company's Common Stock during
the Trading Period.

 

2.5OVERALL LIMIT ON COMMON STOCK
ISSUABLE. Notwithstanding anything contained herein to the contrary, if during the Open Period the Company becomes listed on
an exchange which limits the number of shares of Common Stock that may be issued without shareholder approval, then the number
of Shares issuable by the Company and purchasable by the Investor, shall not exceed that number of the shares of Common Stock that
may be issuable without shareholder approval (the "Maximum Common Stock Issuance"). If
such issuance of shares of Common Stock could cause a delisting on the Principal Market, then the Maximum Common Stock Issuance
shall first be approved by the Company's shareholders in accordance with applicable law and the By-laws and the Articles of Incorporation
of the Company, if such issuance of shares of Common Stock could cause a delisting on the Principal Market. The parties understand
and agree that the Company's failure to seek or obtain such shareholder approval shall in no way adversely affect the validity
and due authorization of the issuance and sale of Shares or the Investor's obligation in accordance with the terms and conditions
hereof to purchase a number of Shares in the aggregate up to the Maximum Common Stock Issuance, and that such approval pertains
only to the applicability of the Maximum Common Stock Issuance limitation provided in this Section 2.5.

 

 

 

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2.6       LIMITATION
ON AMOUNT OF OWNERSHIP. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be entitled
to purchase that number of Shares, which when added to the sum of the number of shares of Common Stock beneficially owned (as such
term is defined under Section 13(d) and Rule 13d-3 of the 1934 Act), by the Investor, would exceed 9.99% of the number of shares
of Common Stock outstanding on the Closing Date, as determined in accordance with Rule 13d-1(j) of the 1934 Act.

 

2.7COMMITMENT FEE.
Upon the execution of this Agreement, the Company shall issue to the Investor a $30,000 Promissory Note as a commitment fee ("Commitment
Fee"). The Promissory Note shall mature nine (9) months from execution, provided that the Registration Statement has been
filed with the SEC.

 

SECTION
III

INVESTOR'S REPRESENTATIONS,
WARRANTIES AND COVENANTS

 

The Investor
represents and warrants to the Company, and covenants, that to the best of the Investor's knowledge:

 

3.1SOPHISTICATED
INVESTOR. The Investor has, by reason of its business and financial experience, such knowledge, sophistication and experience
in financial and business matters and in making investment decisions of this type that it is capable of (I) evaluating the merits
and risks of an investment in the Shares and making an informed investment decision; (II) protecting its own interest; and (III)
bearing the economic risk of such investment for an indefinite period of time.

 

3.2AUTHORIZATION;
ENFORCEMENT. This Agreement has been duly and validly authorized, executed and delivered on behalf of the Investor and is a
valid and binding agreement of the Investor enforceable against the Investor in accordance with its terms, subject as to enforceability
to general principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar
laws relating to, or affecting generally, the enforcement of applicable creditors' rights and remedies.

 

3.3SECTION 9 OF
THE 1934 ACT. During the term of this Agreement, the Investor will comply with the provisions of Section 9 of the 1934 Act,
and the rules promulgated thereunder, with respect to transactions involving the Common Stock.

 

3.4ACCREDITED INVESTOR.
Investor is an "Accredited Investor" as that term is defined in Rule 501(a) of Regulation D of the 1933 Act.

 

 

 

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3.5NO CONFLICTS. The execution,
delivery and performance of the Registered Offering Transaction Documents by the Investor and the consummation by the Investor
of the transactions contemplated hereby and thereby will not result in a violation of the operating agreement or other organizational
documents of the Investor.

 

3.6OPPORTUNITY TO DISCUSS. The
Investor has received all materials relating to the Company's business, finance and operations which it has requested. The Investor
has had an opportunity to discuss the business, management and financial affairs of the Company with the Company's management,
on a confidential basis and consistent with the Confidentiality Agreement between the parties.

 

3.7INVESTMENT PURPOSES. The
Investor is purchasing the Shares for its own account for investment purposes and not with a view towards distribution and agrees
to resell or otherwise dispose of the Shares solely in accordance with the registration provisions of the 1933 Act (or pursuant
to an exemption from such registration provisions).

 

3.8NO REGISTRATION AS A DEALER.
The Investor is not required to be registered as a "dealer" under the 1934 Act, either as a result of its execution and
performance of its obligations under this Agreement or otherwise.

 

3.9GOOD STANDING. The Investor
is a limited liability company, duly organized, validly existing and in good standing in the State of its Nevada.

 

3.10TAX LIABILITIES. The Investor understands that
it is liable for its own tax liabilities.

 

3.11REGULATION M. The Investor will comply with Regulation
M under the 1934 Act, if applicable.

 

3.12NO SHORT SALES. No short
sales or other activities that could manipulate the market for the Common Stock, in violation of Rule 10b-5 promulgated under the
Securities Exchange Act of 1934, shall be permitted by the Investor or its affiliates during the period commencing on the Execution
Date and continuing through the termination of this Agreement.

 

SECTION IV

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

Except as set forth in
the Schedules attached hereto, or as disclosed on the Company's SEC Documents, the Company represents and warrants to the Investor
that:

 

4.1ORGANIZATION AND QUALIFICATION.
The Company is a corporation duly organized and validly existing in good standing under the laws of the State of Nevada, and has
the requisite corporate power and authorization to own its properties and to carry on its business as now being conducted. Both
the Company and the companies it owns or controls ("Subsidiaries") are duly qualified to do business and are in
good standing in every jurisdiction in which its ownership of property or the nature of the business conducted by it makes such
qualification necessary, except to the extent that the failure to be so qualified or be in good standing would not have a Material
Adverse Effect. As used in this Agreement, "Material Adverse Effect" means a change, event, circumstance, effect
or state of facts that has had or is reasonably likely to have, a material adverse effect on the business, properties, assets,
operations, results of operations, financial condition or prospects of the Company and its Subsidiaries, if any,
taken as a whole, or on the transactions contemplated hereby or by the agreements and instruments to be entered into in connection
herewith, or on the authority or ability of the Company to perform its obligations under the Registered Offering Transaction Documents.

 

 

 

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4.2AUTHORIZATION; ENFORCEMENT; COMPLIANCE
WITH OTHER INSTRUMENTS.

 

		i.	The Company has the requisite corporate power and authority to enter into and perform this Agreement
and the Registration Rights Agreement (collectively, the "Registered Offering Transaction Documents"), and to
issue the Shares in accordance with the terms hereof and thereof.

 

		ii.	The execution and delivery of the Registered Offering Transaction Documents by the Company and
the consummation by it of the transactions contemplated hereby and thereby, including without limitation the issuance of the Shares
pursuant to this Agreement, have been duly and validly authorized by the Company's Board of Directors and no further consent or
authorization is required by the Company, its Board of Directors, or its shareholders.

 

		iii.	The Registered Offering Transaction Documents have been duly and validly executed and delivered
by the Company.

 

		iv.	The Registered Offering Transaction Documents constitute the valid and binding obligations of the
Company, enforceable against the Company in accordance with their terms, except as such enforceability may be limited by general
principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to,
or affecting generally, the enforcement of creditors' rights and remedies.

 

4.3 CAPITALIZATION.
As of the date hereof, the authorized capital stock of the Company consists of 300,000,000 shares of the Common Stock, par
value $.001 per share, of which as of the date hereof 34,862,900 shares are issued and outstanding. All of such outstanding
shares have been validlissued and are fully paid and nonassessable.

 

Except as disclosed in the
Company's publicly available filings with the SEC or as otherwise set forth on Schedule 4.3:

 

		i.	no shares of the Company's capital stock are subject to preemptive rights or any other similar
rights or any liens or encumbrances suffered or permitted by the Company;

 

		ii.	there are no outstanding debt securities;

 

		iii.	there are no outstanding options, warrants, rights to subscribe to, calls or commitments of any
character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of
its Subsidiaries, or contracts, commitments, understandings or arrangements by which the Company or any of its Subsidiaries is
or may become bound to issue additional shares of capital stock of the Company or any of its Subsidiaries;

 

 

 

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		iv.	there are no agreements or arrangements under which the Company or any of its Subsidiaries is obligated
to register the sale of any of their securities under the 1933 Act (except the Registration Rights Agreement);

 

		v.	there are no outstanding securities of the Company or any of its Subsidiaries which contain any
redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company
or any of its Subsidiaries is or may become bound to redeem a security of the Company or any of its Subsidiaries;

 

		vi.	there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance
of the Shares as described in this Agreement;

 

		vii.	the Company does not have any stock appreciation rights or "phantom stock" plans or agreements or any similar plan
or agreement; and

 

		viii.	there is no dispute as to the classification of any shares of the Company's capital stock.

 

The Company has furnished
to the Investor, or the Investor has had access through EDGAR to, true and correct copies of the Company's Articles of Incorporation,
as in effect on the date hereof (the "Articles of Incorporation"), and the Company's By-laws, as in effect on
the date hereof (the "By-laws"), and the terms of all securities convertible into or exercisable for Common Stock
and the material rights of the holders thereof in respect thereto.

 

4.4ISSUANCE OF SHARES. The Company has reserved
the amount of Shares included in the Company's registration statement for issuance pursuant to the Registered Offering Transaction
Documents, and such Shares have been duly authorized for issuance and reserved (subject to adjustment pursuant to the Company's
covenant set forth in Section 5.5 below) pursuant to this Agreement. Upon issuance in accordance with this Agreement, the
Shares will be validly issued, fully paid for and non-assessable and free from all taxes, liens and charges with respect to the
issuance thereof. In the event the Company cannot register a sufficient number of Shares for issuance pursuant to this Agreement,
the Company will use its best efforts to authorize and reserve for issuance the number of Shares required for the Company to perform
its obligations hereunder as soon as reasonably practicable.

 

4.5NO
CONFLICTS. The execution, delivery and performance of the Registered Offering Transaction Documents by the Company and
the consummation by the Company of the transactions contemplated hereby and thereby will not (i) result in a violation of the
Articles of Incorporation, any Certificate of Designations, Preferences and Rights of any outstanding series of preferred
stock of the Company, or the By-laws; or (ii) conflict with, or constitute a material default (or an event which with notice
or lapse of time or both would become a material default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any material agreement, contract, indenture mortgage, indebtedness or instrument to which
the Company or any of its Subsidiaries is a party, or to the Company's knowledge result in a violation of any law, rule,
regulation, order, judgment or decree (including United States federal and state securities laws and regulations and the
rules and regulations of the Principal Market or principal securities exchange or trading market on which the Common Stock is
traded or listed) applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company or
any of its Subsidiaries is bound or affected. Neither the Company nor any of its Subsidiaries is in violation of any term of,
or in default under, its respective organizational charter or bylaws, or any contract, agreement, mortgage, indebtedness,
indenture, instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company or its
Subsidiaries, except for possible conflicts, defaults, terminations, amendments, accelerations, cancellations and violations
that would not individually or in the aggregate have or constitute a Material Adverse Effect. The business of the Company and
its Subsidiaries is not being conducted, and shall not be conducted, in violation of any law, statute, ordinance, rule, order
or regulation of any governmental authority or agency, regulatory or self-regulatory agency, or court, except for possible
violations the sanctions for which either individually or in the aggregate would not have a Material Adverse Effect. Except
as specifically contemplated by this Agreement and as required under the 1933 Act or any securities laws of any states, to
the Company's knowledge, the Company is not required to obtain any consent, authorization, permit or order of, or make any
filing or registration (except the filing of a registration statement as outlined in the Registration Rights Agreement
between the parties) with, any court, governmental authority or agency, regulatory or self-regulatory agency or other third
party in order for it to execute, deliver or perform any of its obligations under, or contemplated by, the Registered
Offering Transaction Documents in accordance with the terms hereof or thereof. All consents, authorizations, permits, orders,
filings and registrations which the Company is required to obtain pursuant to the preceding sentence have been obtained or
effected on or prior to the date hereof and are in full force and effect as of the date hereof. The Company and its
Subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing. The Company is not, and
will not be, in violation of the listing requirements of the Principal Market as in effect on the date hereof and on each of
the Closing Dates and is not aware of any facts which would reasonably lead to delisting of the Common Stock by the Principal
Market in the foreseeable future.

 

    	 	9	 

     

    

 

4.6       SEC
DOCUMENTS; FINANCIAL STATEMENTS. As of the date hereof, the Company has filed all reports, schedules, forms, statements and
other documents required to be filed by it with the SEC pursuant to the reporting requirements of the 1934 Act (all of the foregoing
filed prior to the date hereof and all exhibits included therein and financial statements and schedules thereto and documents incorporated
by reference therein, and amendments thereto, being hereinafter referred to as the "SEC Documents"). The Company
has delivered to the Investor or its representatives, or they have had access through EDGAR to, true and complete copies of the
SEC Documents. As of their respective filing dates, the SEC Documents complied in all material respects with the requirements of
the 1934 Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC
Documents, at the time they were filed with the SEC or the time they were amended, if amended, contained any untrue statement of
a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading. As of their respective dates, the financial statements
of the Company included in the SEC Documents complied as to form in all material respects with applicable accounting requirements
and the published rules and regulations of the SEC with respect thereto. Such financial statements have been prepared in accordance
with generally accepted accounting principles consistently applied, by a firm that is a member of the Public Companies Accounting
Oversight Board ("PCAOB"), during the periods involved (except (i) as may be otherwise indicated in such financial
statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent they may exclude footnotes
or may be condensed or summary statements) and fairly present in all material respects the financial position of the Company as
of the dates thereof and the results of its operations and cash flows for the periods then ended (subject, in the case of unaudited
statements, to normal year-end audit adjustments). No other written information provided by or on behalf of the Company to the
Investor which is not included in the SEC Documents, including, without limitation, information referred to in Section 4.3
of this Agreement, contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements
therein, in the light of the circumstance under which they are or were made, not misleading. Neither the Company nor any of its
Subsidiaries or any of their officers, directors, employees or agents have provided the Investor with any material, nonpublic information
which was not publicly disclosed prior to the date hereof and any material, nonpublic information provided to the Investor by the
Company or its Subsidiaries or any of their officers, directors, employees or agents prior to any Closing Date shall be publicly
disclosed by the Company prior to such Closing Date.

 

 

 

 

 

    	 	10	 

     

    

4.7ABSENCE OF CERTAIN CHANGES.
Except as otherwise set forth in the SEC Documents, the Company does not intend to change the business operations of the Company
in any material way. The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant
to any bankruptcy law nor does the Company or its Subsidiaries have any knowledge or reason to believe that its creditors intend
to initiate involuntary bankruptcy proceedings.

 

4.8ABSENCE OF LITIGATION AND/OR REGULATORY PROCEEDINGS.
Except as set forth in the SEC Documents, there is no action, suit, proceeding, inquiry or investigation before or by any court,
public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of
Company or any of its Subsidiaries, threatened against or affecting the Company, the Common Stock or any of the Company's Subsidiaries
or any of the Company's or the Company's Subsidiaries' officers or directors in their capacities as such, in which an adverse decision
could have a Material Adverse Effect.

 

4.9ACKNOWLEDGMENT REGARDING INVESTOR'S
PURCHASE OF SHARES. The Company acknowledges and agrees that the Investor is acting solely in the capacity of an arm's length
Investor with respect to the Registered Offering Transaction Documents and the transactions contemplated hereby and thereby. The
Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to the Registered Offering Transaction Documents and the transactions contemplated hereby and thereby and
any advice given by the Investor or any of its respective representatives or agents in connection with the Registered Offering
Transaction Documents and the transactions contemplated hereby and thereby is merely incidental to the Investor's purchase of the
Securities, and is not being relied on by the Company. The Company further represents to the Investor that the Company's decision
to enter into the Registered Offering Transaction Documents has been based solely on the independent evaluation by the Company
and its representatives.

 

4.10 NO UNDISCLOSED
EVENTS, LIABILITIES, DEVELOPMENTS OR CIRCUMSTANCES. Except as set forth in the SEC Documents, as of the date hereof, no event,
liability, development or circumstance has occurred or exists, or to the Company's knowledge is contemplated to occur, with respect
to the Company or its Subsidiaries or their respective business, properties, assets, prospects, operations or financial condition,
that would be required to be disclosed by the Company under applicable securities laws on a registration statement filed with the
SEC relating to an issuance and sale by the Company of its Common Stock and which has not been publicly announced.

 

4.11EMPLOYEE RELATIONS. Neither
the Company nor any of its Subsidiaries is involved in any union labor dispute nor, to the knowledge of the Company or any of its
Subsidiaries, is any such dispute threatened. Neither the Company nor any of its Subsidiaries is a party to a collective bargaining
agreement, and the Company and its Subsidiaries believe that relations with their employees are good. No executive officer (as
defined in Rule 501(f) of the 1933 Act) has notified the Company that such officer intends to leave the Company's employ or otherwise
terminate such officer's employment with the Company.

 

4.12 INTELLECTUAL PROPERTY
RIGHTS. The Company and its Subsidiaries own or possess adequate rights or licenses to use all trademarks, trade names, service
marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals, governmental
authorizations, trade secrets and rights necessary to conduct their respective businesses as now conducted. Except as set forth
in the SEC Documents, none of the Company's trademarks, trade names, service marks, service mark registrations, service names,
patents, patent rights, copyrights, inventions, licenses, approvals, government authorizations, trade secrets or other intellectual
property rights necessary to conduct its business as now or as proposed to be conducted have expired
or terminated, or are expected to expire or terminate within two (2) years from the date of this Agreement. The Company and its
Subsidiaries do not have any knowledge of any infringement by the Company or its Subsidiaries of trademark, trade name rights,
patents, patent rights, copyrights, inventions, licenses, service names, service marks, service mark registrations, trade secret
or other similar rights of others, or of any such development of similar or identical trade secrets or technical information by
others and, except as set forth in the SEC Documents, there is no claim, action or proceeding being made or brought against, or
to the Company's knowledge, being threatened against, the Company or its Subsidiaries regarding trademark, trade name, patents,
patent rights, invention, copyright, license, service names, service marks, service mark registrations, trade secret or other infringement;
and the Company and its Subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing. The
Company and its Subsidiaries have taken commercially reasonable security measures to protect the secrecy, confidentiality and value
of all of their intellectual properties.

 

 

 

    	 	11	 

     

    

 

4.13 ENVIRONMENTAL
LAWS. The Company and its Subsidiaries (i) are, to the knowledge of the management and directors of the Company and its Subsidiaries,
in compliance with any and all applicable foreign, federal, state and local laws and regulations relating to the protection of
human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants ("Environmental
Laws"); (ii) have, to the knowledge of the management and directors of the Company, received all permits, licenses or
other approvals required of them under applicable Environmental Laws to conduct their respective businesses; and (iii) are in compliance,
to the knowledge of the management and directors of the Company, with all terms and conditions of any such permit, license or approval.

 

4.14TITLE.
The Company and its Subsidiaries have good and marketable title to all personal property owned by them which is material to the
business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as
are described in the SEC Documents or such as do not materially affect the value of such property and do not interfere with the
use made and proposed to be made of such property by the Company or any of its Subsidiaries. Any real property and facilities
held under lease by the Company or any of its Subsidiaries are held by them under valid, subsisting and enforceable leases with
such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings
by the Company and its Subsidiaries.

 

4.15INSURANCE. Each of the Company's
Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts
as management of the Company reasonably believes to be prudent and customary in the businesses in which the Company and its Subsidiaries
are engaged. Neither the Company nor any of its Subsidiaries has been refused any insurance coverage sought or applied for and
neither the Company nor its Subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage
as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business
at a cost that would not have a Material Adverse Effect.

 

4.16 REGULATORY
PERMITS. The Company and its Subsidiaries have in full force and effect all certificates, approvals, authorizations and permits
from the appropriate federal, state, local or foreign regulatory authorities and comparable foreign regulatory agencies, necessary
to own, lease or operate their respective properties and assets and conduct their respective businesses, and neither the Company
nor any such Subsidiary has received any notice of proceedings relating to the revocation or modification of any such certificate,
approval, authorization or permit.

 

 

 

    	 	12	 

     

    

4.17 INTERNAL ACCOUNTING
CONTROLS. Except as otherwise set forth in the SEC Documents, the Company and each of its Subsidiaries maintain a system of
internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management's
general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in
conformity with generally accepted accounting principles by a firm with membership to the PCAOB and to maintain asset accountability;
(iii) access to assets is permitted only in accordance with management's general or specific authorization; and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect
to any differences. The Company's management has determined that the Company's internal accounting controls were not effective
as of the date of this Agreement as further described in the SEC Documents.

 

4.18 NO MATERIALLY ADVERSE
CONTRACTS, ETC. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate or other legal restriction,
or any judgment, decree, order, rule or regulation which in the judgment of the Company's officers has or is expected in the future
to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party to any contract or agreement which
in the judgment of the Company's officers has or is expected to have a Material Adverse Effect.

 

4.19 TAX STATUS.
The Company and each of its Subsidiaries has made or filed all United States federal and state income and all other tax returns,
reports and declarations required by any jurisdiction to which it is subject, or timely filed appropriate extensions (unless and
only to the extent that the Company and each of its Subsidiaries has set aside on its books provisions reasonably adequate for
the payment of all unpaid and unreported taxes) and has paid all taxes and other governmental assessments and charges that are
material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested in good
faith and has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the periods
to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the
taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.

 

4.20 CERTAIN TRANSACTIONS.
Except as set forth in the SEC Documents filed at least ten (10) days prior to the date hereof and except for arm's length transactions
pursuant to which the Company makes payments in the ordinary course of business upon terms no less favorable than the Company could
obtain from disinterested third parties, none of the officers, directors, or employees of the Company is presently a party to any
transaction with the Company or any of its Subsidiaries (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or
personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge
of the Company, any corporation, partnership, trust or other entity in which any officer, director, or any such employee has a
substantial interest or is an officer, director, trustee or partner, such that disclosure would be required in the SEC Documents.

 

4.21       DILUTIVE
EFFECT. The Company's executive officers and directors have studied and fully understand the nature of the transactions contemplated
by this Agreement and recognize that they will have a dilutive effect on the shareholders of the Company. The Board of Directors
of the Company has concluded, in its good faith business judgment, and with full understanding of the implications, that such issuance
is in the best interests of the Company. The Company specifically acknowledges that, subject to such limitations as are expressly
set forth in the Registered Offering Transaction Documents, its obligation to issue shares of Common Stock upon purchases pursuant
to this Agreement is absolute and unconditional regardless of the dilutive effect that such issuance
may have on the ownership interests of other shareholders of the Company.

 

 

 

    	 	13	 

     

    

 

 

4.22 NO
GENERAL SOLICITATION. Neither the Company, nor any of its affiliates, nor any person acting on its behalf, has engaged in any
form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of
the Common Stock to be offered as set forth in this Agreement.

 

4.23 NO
BROKERS, FINDERS OR FINANCIAL ADVISORY FEES OR COMMISSIONS .No brokers, finders or financial advisory fees or commissions will
be payable by the Company, its agents or Subsidiaries, with respect to the transactions contemplated by this Agreement.

 

4.24 EXCLUSIVITY.
The Company shall not pursue a similar Equity Financing transaction with any other party unless and until good faith negotiations
have terminated between the Investor and the Company or until such time as the registration statement has been declared effective
by the SEC.

 

SECTION V

COVENANTS OF THE COMPANY

 

5.1BEST EFFORTS.
The Company shall use all commercially reasonable efforts to timely satisfy each of the conditions set forth in Section 7
of this Agreement.

 

5.2REPORTING STATUS.
Until one of the following occurs, the Company shall file all reports required to be filed with the SEC pursuant to the 1934 Act,
and the Company shall not terminate its status, or take an action or fail to take any action, which would terminate its status
as a reporting company under the 1934 Act: (i) this Agreement terminates pursuant to Section 8 and the Investor has the
right to sell all of the Shares without restrictions pursuant to Rule 144 promulgated under the 1933 Act, or such other exemption,
or (ii) the date on which the Investor has sold all the Shares and this Agreement has been terminated pursuant to Section 8.

 

5.3USE OF PROCEEDS.
The Company will use the proceeds from the sale of the Shares (excluding amounts paid by the Company for fees as set forth in the
Registered Offering Transaction Documents) for general corporate and working capital purposes and acquisitions or assets, businesses
or operations or for other purposes that the Board of Directors, in good faith deem to be in the best interest of the Company.

 

5.4FINANCIAL INFORMATION.
During the Open Period, the Company agrees to make available to the Investor via EDGAR or other electronic means the following
documents and information: (i) within five (5) Trading Days after the filing thereof with the SEC, a copy of its Annual Reports
on Form 10-K, its Quarterly Reports on Form 10-Q, any Current Reports on Form 8-K and any Registration Statements or amendments
filed pursuant to the 1933 Act; (ii) copies of any notices and other information made available or given to the shareholders of
the Company generally, contemporaneously with the making available or giving thereof to the shareholders; and (iii) within two
(2) calendar days of filing or delivery thereof, copies of all documents filed with, and all correspondence sent to, the Principal
Market, any securities exchange or market, or the Financial Industry Regulatory Authority, unless such information is material
nonpublic information.

 

5.5RESERVATION
OF SHARES. The Company shall take all action necessary to at all times have authorized, and reserved, the amount of Shares
included in the Company's registration statement for issuance pursuant to the Registered Offering Transaction Documents. In the
event that the Company determines that it does not have a sufficient number of authorized shares of Common Stock to reserve
and keep available for issuance as described in this Section 5.5, the Company shall use all commercially reasonable efforts
to increase the number of authorized shares of Common Stock by seeking shareholder approval for the authorization of such additional
shares.

 

 

 

    	 	14	 

     

    

 

5.6LISTING. The Company shall
promptly secure and maintain the listing of all of the Registrable Securities (as defined in the Registration Rights Agreement)
on the Principal Market and each other national securities exchange and automated quotation system, if any, upon which shares of
Common Stock are then listed (subject to official notice of issuance), and shall maintain such listing of all Registrable Securities
from time to time issuable under the terms of the Registered Offering Transaction Documents. Neither the Company nor any of its
Subsidiaries shall take any action which would be reasonably expected to result in the delisting or suspension of the Common Stock
on the Principal Market (excluding suspensions of not more than one (1) Trading Day resulting from business announcements by the
Company). The Company shall promptly provide to the Investor copies of any notices it receives from the Principal Market regarding
the continued eligibility of the Common Stock for listing on such automated quotation system or securities exchange. The Company
shall pay all fees and expenses in connection with satisfying its obligations under this Section 5.6.

 

5.7TRANSACTIONS WITH AFFILIATES.
The Company shall not, and shall cause each of its Subsidiaries not to, enter into, amend, modify or supplement, or permit any
Subsidiary to enter into, amend, modify or supplement, any agreement, transaction, commitment or arrangement with any of its or
any Subsidiary's officers, directors, persons who were officers or directors at any time during the previous two (2) years, shareholders
who beneficially own 5% or more of the Common Stock, or Affiliates or with any individual related by blood, marriage or adoption
to any such individual or with any entity in which any such entity or individual owns a 5% or more beneficial interest (each a
"Related Party"), except for (i) customary employment arrangements and benefit programs on reasonable terms, (ii)
any agreement, transaction, commitment or arrangement on an arms-length basis on terms no less favorable than terms which would
have been obtainable from a disinterested third party other than such Related Party, or (iii) any agreement, transaction, commitment
or arrangement which is approved by a majority of the disinterested directors of the Company. For purposes hereof, any director
who is also an officer of the Company or any Subsidiary of the Company shall not be a disinterested director with respect to any
such agreement, transaction, commitment or arrangement. "Affiliate" for purposes hereof means, with respect to
any person or entity, another person or entity that, directly or indirectly, (i) has a 5% or more equity interest in that person
or entity, (ii) has 5% or more common ownership with that person or entity, (iii) controls that person or entity, or (iv) is under
common control with that person or entity. "Control" or "Controls" for purposes hereof means
that a person or entity has the power, directly or indirectly, to conduct or govern the policies of another person or entity.

 

5.8FILING OF FORM 8-K. On or
before the date which is four (4) Trading Days after the Execution Date, the Company shall file a Current Report on Form 8-K with
the SEC describing the terms of the transaction contemplated by the Registered Offering Transaction Documents in the form required
by the 1934 Act, if such filing is required.

 

5.9CORPORATE EXISTENCE. The
Company shall use all commercially reasonable efforts to preserve and continue the corporate existence of the Company.

 

 

 

    	 	15	 

     

    

 

 

5.10 NOTICE OF CERTAIN
EVENTS AFFECTING REGISTRATION; SUSPENSION OF RIGHT TO MAKE A PUT. The Company shall promptly notify the Investor upon the occurrence
of any of the following events in respect of a Registration Statement or related prospectus in respect of an offering of the Shares:
(i) receipt of any request for additional information by the SEC or any other federal or state governmental
authority during the period of effectiveness of the Registration Statement, or any request for amendments or supplements to the
Registration Statement or related prospectus; (ii) the issuance by the SEC or any other federal or state governmental authority
of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for that purpose;
(iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification of any of
the Shares for sale in any jurisdiction or the initiation or notice of any proceeding for such purpose; (iv) the happening of any
event that makes any statement made in such Registration Statement or related prospectus or any document incorporated or deemed
to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration
Statement, related prospectus or documents so that, in the case of a Registration Statement, it will not contain any untrue statement
of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein
not misleading, and that in the case of the related prospectus, it will not contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; and (v) the Company's reasonable determination that a post-effective
amendment or supplement to the Registration Statement would be appropriate, and the Company shall promptly make available to Investor
any such supplement or amendment to the related prospectus. The Company shall not deliver to Investor any Put Notice during the
continuation of any of the foregoing events in this Section 5.10.

 

5.11TRANSFER AGENT. The Company shall
deliver instructions to its transfer agent to issue Shares to the Investor consistent with the issuance transactions contemplated
herein.

 

5.12 ACKNOWLEDGEMENT
OF TERMS. The Company hereby represents and warrants to the Investor that: (i) it is voluntarily entering into this Agreement
of its own free will, (ii) it is not entering into this Agreement under economic duress, (iii) the terms of this Agreement are
reasonable and fair to the Company, and (iv) the Company has had independent legal counsel of its own choosing review this Agreement,
advise the Company with respect to this Agreement, and represent the Company in connection with this Agreement.

 

SECTION VI

CONDITIONS OF THE COMPANY'S
OBLIGATION TO SELL

 

The obligation
hereunder of the Company to issue and sell the Shares to the Investor is further subject to the satisfaction, at or before each
Closing Date, of each of the following conditions set forth below. These conditions are for the Company's sole benefit and may
be waived by the Company at any time in its sole discretion.

 

6.1The Investor shall
have executed this Agreement and the Registration Rights Agreement and delivered the same to the Company.

 

6.2The Investor shall
have delivered to the Company the Purchase Price for the Shares being purchased by the Investor.

 

6.3No statute, rule,
regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court
or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated by
this Agreement.

 

 

 

    	 	16	 

     

    

 

SECTION VII

FURTHER CONDITIONS OF THE
INVESTOR'S OBLIGATION TO PURCHASE

 

The obligation of the
Investor hereunder to purchase Shares is subject to the satisfaction, on or before each Closing Date, of each of the following
conditions set forth below.

 

7.1The Company shall have executed
the Registered Offering Transaction Documents and delivered the same to the Investor.

 

7.2The representations and warranties
of the Company shall be true and correct as of the date when made and as of the applicable Closing Date as though made at that
time, and the Company shall have performed, satisfied and complied with the covenants, agreements and conditions required by the
Registered Offering Transaction Documents to be performed, satisfied or complied with by the Company on or before such Closing
Date. The Investor may request an update as of such Closing Date regarding the representation contained in Section 4.3.

 

7.3The Company shall have executed
and delivered to the Investor the certificates representing, or have executed electronic book-entry transfer of, the Shares (in
such denominations as the Investor shall request) being purchased by the Investor at such Closing.

 

7.4The Board of Directors of the Company
shall have adopted resolutions consistent with Section 4.2(ii) (the "Resolutions") and such Resolutions
shall not have been amended or rescinded prior to such Closing Date.

 

7.5No statute, rule, regulation, executive
order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority
of competent jurisdiction which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

7.6Within thirty (30) days after this
Agreement is executed, the Company agrees to use its best efforts to file with the SEC a registration statement covering the Shares
contemplated to be issued pursuant to the terms of this Agreement. Such registration statement shall conform to the requirements
of the rules and regulations of the SEC and the terms and conditions of this Agreement, and shall be reviewed and approved by the
Investor. The Company will take any and all steps necessary to have its registration statement declared effective by the SEC within
30 days but no more than 180 days after the Company has filed its registration statement. The Registration Statement shall be effective
on each Closing Date, and no stop order suspending the effectiveness of the Registration statement shall be in effect or, to the
Company's knowledge shall be pending or threatened. Furthermore, on each Closing Date (I) neither the Company nor the Investor
shall have received notice that the SEC has issued or intends to issue a stop order with respect to such Registration Statement
or that the SEC otherwise has suspended or withdrawn the effectiveness of such Registration Statement, either temporarily or permanently,
or intends or has threatened to do so (unless the SEC's concerns have been addressed), and (II) no other suspension of the use
or withdrawal of the effectiveness of such Registration Statement or related prospectus shall exist. At the time of each Closing,
the Registration Statement (including information or documents incorporated by reference therein) and any amendments or supplements
thereto shall not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein not misleading or which would require public disclosure or an update supplement to
the prospectus.

 

7.8If applicable, the shareholders
of the Company shall have approved the issuance of any Shares in excess of the Maximum Common Stock Issuance in accordance with
Section 2.5 or the Company shall have obtained appropriate approval pursuant to the requirements of applicable state and
federal laws and the Company's Articles of Incorporation and By-laws.

 

 

 

    	 	17	 

     

    

7.9The conditions to
such Closing set forth in Section 2.3 shall have been satisfied on or before such Closing Date.

 

7.10The Company shall
have certified to the Investor the number of Shares of Common Stock outstanding when a Put Notice is given to the Investor. The
Company's delivery of a Put Notice to the Investor constitutes the Company's certification of the existence of the necessary number
of shares of Common Stock reserved for issuance.

 

SECTION VIII

TERMINATION

 

This Agreement shall terminate upon any of the following
events:

 

8.1when the Investor has purchased an aggregate
of Eleven Million Dollars ($11,000,000) in the Common Stock of the Company pursuant to this Agreement; or

 

8.2on the date which is thirty-six (36)
months after the Effective Date; or

 8.3at such time that the Registration
Statement is no longer in effect.

 

Any and
all shares, or penalties, if any, due under this Agreement shall be immediately payable and due upon termination of this Agreement.

 

SECTION IX

SUSPENSION

 

This Agreement
shall be suspended upon any of the following events, and shall remain suspended until such event is rectified:

 

		i.	The trading of the Common Stock is suspended by the SEC, the Principal Market or FINRA for a period of two (2) consecutive
Trading Days during the Open Period; or

 

		ii.	The Common Stock ceases to be quoted, listed or traded on the Principal Market or the Registration
Statement is no longer effective (except as permitted hereunder). Immediately upon the occurrence of one of the above-described
events, the Company shall send written notice of such event to the Investor.

 

SECTION X

INDEMNIFICATION

 

In
consideration of the parties mutual obligations set forth in the Registered Offering Transaction Documents, the Company ( the "Indemnitor")
shall defend, protect, indemnify and hold harmless the Investor and all of the investor's shareholders, officers, directors,
employees, counsel, and direct or indirect investors and any of the foregoing persons' agents or other representatives (including,
without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the "Indemnitees")
from and against any and all actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages,
and reasonable expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which
indemnification hereunder is sought), and including reasonable attorneys' fees and disbursements (the "Indemnified Liabilities"),
incurred by any Indemnitee as a result of, or arising out of, or relating to (I) any misrepresentation or breach of
any representation or warranty made by the Indemnitor or any other certificate, instrument or document contemplated hereby or thereby;
(II) any breach of any covenant, agreement or obligation of the Indemnitor contained in the Registered Offering Transaction Documents
or any other certificate, instrument or document contemplated hereby or thereby; or (III) any cause of action, suit or claim brought
or made against such Indemnitee by a third party and arising out of or resulting from the execution, delivery, performance or enforcement
of the Registered Offering Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby,
except insofar as any such misrepresentation, breach or any untrue statement, alleged untrue statement, omission or alleged omission
is made in reliance upon and in conformity with information furnished by an Indemnitee to Indemnitor and specifically intended
for use in the preparation of any Registration Statement, preliminary prospectus, prospectus or amendments to the prospectus. To
the extent that the foregoing undertaking by the Indemnitor may be unenforceable for any reason, the Indemnitor shall make the
maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable
law. The indemnity provisions contained herein shall be in addition to any cause of action or similar rights Indemnitor may have,
and any liabilities the Indemnitor or the Indemnitees may be subject to.

 

 

    	 	18	 

     

    

 

 

SECTION XI

GOVERNING LAW; DISPUTES SUBMITTED TO ARBITRATION.

 

11.1 LAW GOVERNING THIS
AGREEMENT. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard
to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Agreement shall be brought only in the state or federal courts located in New York City, New York State. The parties to
this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not
assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The parties executing this
Agreement and other agreements referred to herein or delivered in connection herewith on behalf of the Company agree to submit
to the in personam jurisdiction of such courts and hereby irrevocably waive trial by jury. The prevailing party shall be entitled
to recover from the other party its reasonable attorney's fees and costs. In the event that any provision of this Agreement or
any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then
such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform
with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the
validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service of process
and consents to process being served in any suit, action or proceeding in connection with this Agreement or any other Registered
Offering Transaction Documents by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence
of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right
to serve process in any other manner permitted by law.

 

11.2 LEGAL FEES; AND
MISCELLANEOUS FEES. Except as otherwise set forth in the Registered Offering Transaction Documents (including but not limited
to Section V of the Registration Rights Agreement), each party shall pay the fees and expenses of its advisers, counsel, the accountants
and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery
and performance of this Agreement. Any attorneys' fees and expenses incurred by either the Company or the Investor in connection
with the preparation, negotiation, execution and delivery of any amendments to this Agreement or relating to the enforcement of
the rights of any party, after the occurrence of any breach of the terms of this Agreement by another party or any default by another
party in respect of the transactions contemplated hereunder, shall be paid on demand by the party which
breached this Agreement and/or defaulted, as the case may be. The Company shall pay all stamp and other taxes and duties levied
in connection with the issuance of any Shares.

 

 

 

    	 	19	 

     

    

 

11.3 COUNTERPARTS.
This Agreement may be executed in any number of counterparts and by the different signatories hereto on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument.
This Agreement may be executed by facsimile transmission, PDF, electronic signature or other similar electronic means with the
same force and effect as if such signature page were an original thereof.

 

11.4 HEADINGS;
SINGULAR/PLURAL. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the
interpretation of, this Agreement. Whenever required by the context of this Agreement, the singular shall include the plural and
masculine shall include the feminine.

 

11.5       SEVERABILITY.
If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall
not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability
of any provision of this Agreement in any other jurisdiction.

 

11.6 ENTIRE
AGREEMENT; AMENDMENTS. This Agreement is the FINAL AGREEMENT between the Company and the Investor with respect to the terms
and conditions set forth herein, and, the terms of this Agreement may not be contradicted by evidence of prior, contemporaneous,
or subsequent oral agreements of the Parties. No provision of this Agreement may be amended other than by an instrument in writing
signed by the Company and the Investor, and no provision hereof may be waived other than by an instrument in writing signed by
the party against whom enforcement is sought. The execution and delivery of the Registered Offering Transaction Documents shall
not alter the force and effect of any other agreements between the Parties, and the obligations under those agreements.

 

11.7 NOTICES.
Any notices or other communications required or permitted to be given under the terms of this Agreement must be in writing and
will be deemed to have been delivered (I) upon receipt, when delivered personally; (II) upon receipt, when sent by facsimile (provided
confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (III) one (1)
day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive
the same. The addresses and facsimile numbers for such communications shall be:

 

	If to the Company:	Financial Gravity Companies, Inc.
	 	Attn: John Pollock, CEO
	 	800 N. Watters Rd., Suite 120
	 	 
	 	Allen, Texas 75013
	 	 
	With a copy to:	Scheef & Stone, LLP
	 	Attn: Roger Crabb
	 	500 North Akard, 2700 Ross Tower
	 	Dallas, Texas 75201
	 	Fax: 214.706.4242
	 	 
	If to the Investor:	GHS Investments, LLC
	 	420 Jericho Turnpike, 
	 	Suite 207
	 	 
	 	Jericho, NY 11753 
	 	Fax: (212) 574-3326

 

 

 

    	 	20	 

     

    

 

Each party shall provide
five (5) days prior written notice to the other party of any change in address or facsimile number.

 

11.8 NO ASSIGNMENT. This Agreement may
not be assigned.

 

11.9 NO THIRD PARTY BENEFICIARIES. This
Agreement is intended for the benefit of the parties hereto and is not for the benefit of, nor may any provision hereof be enforced
by, any other person, except that the Company acknowledges that the rights of the Investor may be enforced by its general partner.

 

11.10 SURVIVAL. The representations
and warranties of the Company and the Investor contained in Sections 3 and 4, the agreements and covenants set forth in Sections
5 and 6, and the indemnification provisions set forth in Section 10, shall survive each of the Closings and the termination
of this Agreement.

 

11.11 PUBLICITY.
The Investor acknowledges that this Agreement and all or part of the Registered Offering Transaction Documents may be deemed to
be "material contracts" as that term is defined by Item 601(b)(10) of Regulation S-K, and that the Company may therefore
be required to file such documents as exhibits to reports or registration statements filed under the 1933 Act or the 1934 Act.
The Investor further agrees that the status of such documents and materials as material contracts shall be determined solely by
the Company, in consultation with its counsel.

 

11.12 FURTHER ASSURANCES.
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry
out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

11.13 NO STRICT CONSTRUCTION.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and
no rules of strict construction will be applied against any party, as the parties mutually agree that each has had a full and fair
opportunity to review this Agreement and seek the advice of counsel on it.

 

11.14 REMEDIES.
The Investor shall have all rights and remedies set forth in this Agreement and the Registration Rights Agreement, all rights and
remedies which the Investor has been granted at any time under any other agreement or contract, and all of the rights which the
Investor has by law. Any person having any rights under any provision of this Agreement shall be entitled to enforce such rights
specifically (without posting a bond or other security), to recover damages by reason of any default or breach of any provision
of this Agreement, including the recovery of reasonable attorney's fees and costs, and to exercise all other rights granted by
law.

 

11.15 PAYMENT SET ASIDE.
To the extent that the Company makes a payment or payments to the Investor hereunder or under the Registration Rights Agreement
or the Investor enforces or exercises its rights hereunder or thereunder, and such payment or payments or the proceeds of such
enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside,
recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or
any other person under any law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable
cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied
shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or setoff had
not occurred.

 

 

 

    	 	21	 

     

    

 

11.16 PRICING OF COMMON STOCK. For purposes
of this Agreement, the price of the Common Stock shall be as reported by www.otcmarkets.com.

 

SECTION XII

NON-DISCLOSURE OF NON-PUBLIC INFORMATION

 

The Company shall not disclose
non-public information to the Investor, its advisors, or its representatives.

 

Nothing herein shall require
the Company to disclose non-public information to the Investor or its advisors or representatives, and the Company represents that
it does not disseminate non-public information to any investors who purchase stock in the Company in a public offering, to money
managers or to securities analysts. The Company will immediately notify the advisors and representatives of the Investor of any
event or the existence of any circumstance (without any obligation to disclose the specific event or circumstance) of which the
Company becomes aware, constituting non-public information (whether or not requested of the Company specifically or generally during
the course of due diligence by such persons or entities), which, if not disclosed in the prospectus included in the Registration
Statement, would cause such prospectus to include a material misstatement or to omit a material fact required to be stated therein
in order to make the statements therein, in light of the circumstances in which they were made, not misleading. Persons or entities
(other than the Investor) may obtain non-public information in the course of conducting due diligence in accordance with the terms
of this Agreement, and nothing herein shall prevent any such persons or entities from notifying the Company of their opinion (based
on such due diligence) that the Registration Statement contains an untrue statement of material fact or omits a material fact required
to be stated in the Registration Statement or necessary to make the statements contained therein, in light of the circumstances
in which they were made, not misleading.

 

SECTION XIII

ACKNOWLEDGEMENTS OF THE PARTIES

 

The parties hereto hereby
acknowledge and agree to the following: (i) the Investor makes no representations or covenants that it will not engage in trading
in the securities of the Company, other than the Investor will not short the Company's common stock or engage in other activities
that could manipulate the market for the Common Stock, in violation of Rule l0b-5 promulgated under the Securities Exchange Act
of 1934, at any time during this Agreement; (ii) the Company shall, by 8:30 a.m. EST on the fourth Trading Day following the date
hereof, file a current report on Form 8-K disclosing the material terms of the transactions contemplated hereby and in the other
Registered Offering Transaction Documents; (iii) the Company has not and shall not provide material non-public information to the
Investor unless prior thereto the Investor shall have executed a written agreement regarding the confidentiality and use of such
information; and (iv) the Company understands and confirms that the Investor will be relying on the acknowledgements set forth
in clauses (i) through (iii) above if the Investor effects any transactions in the securities of the Company.

 

 

 

 

 

 

 

    	 	22	 

     

    

 

[Signature page follows]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	23	 

     

    

 

 

Your signature on
this Signature Page evidences your agreement to be bound by the terms and conditions of this Agreement as of the date first written
above. The undersigned signatory hereby certifies that it has read and understands this Agreement, and the representations made
by the undersigned in this Agreement are true and accurate, and agrees to be bound by its terms.

 

 

 

	 	GHS INVESTMENTS, LLC
	 	 
	 	By: /s/ Sarfraz Hajee
	 	Name: Sarfraz Hajee
	 	Title: Member
	 	 
	 	 
	 	FINANCIAL GRAVITY COMPANIES, INC.
	 	 
	 	By: /s/ John Pollock
	 	Name: John Pollock
	 	Title: CFO

 

 

 

 

 

[SIGNATURE PAGE OF EQUITY FINANCING AGREEMENT]

 

 

 

    	 	24	 

     

    

 

Schedule 4.3

 

[to
be prepared by the Company]

 

 

 

 

 

 

 

 

 

 

    	 	25	 

     

    

 

LIST OF EXHIBITS

 

 

 

	EXHIBIT A	Registration Rights Agreement
	 	 
	EXHIBIT B	Notice of Effectiveness
	 	 
	EXHIBIT C	Put Notice
	 	 
	EXHIBIT D	Put Settlement Sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	26	 

     

    

 

EXHIBIT A

 

REGISTRATION RIGHTS AGREEMENT

 

 

See
attached

 

 

 

 

 

 

 

 

 

 

    	 	27	 

     

    

 

EXHIBIT B

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

Date:__________          

Pacific Stock Transfer Company

6725 Via Austi Pkwy, Suite 300

Las Vegas, NV 89119

Attn: Michelle Husted

M ichelle@pacificstocktransfer.com

 

Re: Financial Gravity Companies,
Inc.

 

Ladies and Gentlemen:

 

We are
counsel to Financial Gravity Companies, Inc., a Nevada corporation (the "Company"), and have represented the Company
in connection with that certain Equity Financing Agreement (the "Investment Agreement") entered into by and among the
Company and GHS Investments, LLC (the "Investor") pursuant to which the Company has agreed to issue to the Investor shares
of the Company's common stock, $.001 par value per share (the "Common Stock") on the terms and conditions set forth in
the Investment Agreement. Pursuant to the Investment Agreement, the Company also has entered into a Registration Rights Agreement
with the Investor (the "Registration Rights Agreement") pursuant to which the Company agreed, among other things, to
register the Registrable Securities (as defined in the Registration Rights Agreement), including the shares of Common Stock issued
or issuable under the Investment Agreement under the Securities Act of 1933, as amended (the "1933 Act"). In connection
with the Company's obligations under the Registration Rights Agreement, on __________, 2017, the Company filed a Registration Statement
on Form S-1 (File No. -__________) (the "Registration Statement") with the Securities and Exchange Commission (the "SEC")
relating to the Registrable Securities which names the Investor as a selling shareholder thereunder.

 

In connection
with the foregoing, we advise you that a member of the SEC's staff has advised us by telephone that the SEC has entered an order
declaring the Registration Statement effective under the 1933 Act at _____on _____, 20__ and we have no knowledge, after telephonic
inquiry of a member of the SEC's staff, that any stop order suspending its effectiveness has been issued or that any proceedings
for that purpose are pending before, or threatened by, the SEC, and the Registrable Securities are available for sale under the
1933 Act pursuant to the Registration Statement.

 

 

	 	Very truly yours,
	 	 
	 	[Company Counsel]

 

 

 

 

 

    	 	28	 

     

    

 

EXHIBIT C

 

FORM OF PUT NOTICE

 

Date:

 

RE: Put Notice Number __

 

Dear Mr./Ms.______________

 

This is to inform you that as of today, Financial Gravity Companies,
Inc., a Nevada corporation (the "Company"), hereby elects to exercise its right pursuant to the Equity Financing Agreement
to require GHS Investments, LLC to purchase shares of its common stock. The Company hereby certifies that:

 

The amount of this put is $__________

 

The Pricing Period runs from _____ until _____

 

The Purchase Price is: $__________

 

The number of Put Shares Due: ______________

 

The
current number of shares of common stock issued and outstanding is:

 

The number of shares currently available for issuance under the
S-1 is: __________

 

Regards,

 

Financial Gravity Companies, Inc.,

 

By:________________________

Name:

Title:

 

 

 

 

 

    	 	29	 

     

    

 

EXHIBIT D

 

PUT SETTLEMENT SHEET

 

Date:__________

 

Dear Mr.__________

 

Pursuant to the Put given by Financial Gravity
Companies, Inc., to GHS Investments, LLC ("GHS") on __________201_, we are now submitting the amount of common shares
for you to issue to GHS.

 

Please have a certificate bearing no restrictive legend totaling
__________ shares issued to GHS immediately and send via DWAC to the following account:

 

[INSERT]

 

If not DWAC eligible, please send FedEx Priority Overnight to:

 

[INSERT ADDRESS]

 

Once these shares are received by us, we will have the funds wired
to the Company.

 

Regards,

 

GHS INVESTMENTS, LLC

 

By:___________________

Name:

Title

 

 

 

 

    	 	30

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