Document:

Exhibit
10.26

 

THIS
WARRANT AND THE SHARES OF COMMON STOCK PURCHASABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. SUCH
WARRANT AND SHARES MAY NOT BE SOLD, OFFERED FOR SALE, TRANSFERRED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT
WITH RESPECT TO SUCH SECURITIES UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

ADAMAS
ONE CORP.

 

COMMON
STOCK WARRANT

 

	Warrant No.: 1	 	Warrant Issue Date: August 23, 2022

 

FOR
VALUE RECEIVED, upon either (i) conversion of the Senior Secured Convertible Promissory Note, dated August 23, 2022
(hereinafter referenced as the “Note”) or (ii) failure to repay the Note, when due, the undersigned, Adamas One
Corp., a Nevada corporation (the “Company”), hereby agrees to, and shall, issue to Digital Power Lending, LLC, a
California limited liability company, having an address at ___________________________________________, or its registered assigns
(the “Holder”), this Common Stock Warrant (the “Warrant”) which entitles Holder to purchase
from the Company, duly authorized, validly issued, fully paid and nonassessable shares of its common stock, $0.001 par value per
share (the “Common Stock”), subject to the terms, conditions, and adjustment as set forth in this
Warrant.

 

1.       Warrant
to Purchase Common Stock. Upon conversion of the Note by Holder, the Holder is entitled to purchase from the Company duly authorized,
validly issued, fully paid and nonassessable shares of Common Stock in an amount equal to thirty-three and one-third percent (33.33%)
of the number of shares received by Holder from the Conversion of the Note (the “Warrant Shares”). In addition, in
the event that an Event of Default (as defined in the Note) occurs under Section 8(a)(i) of the Note (failure to repay the Note, when
due), the Holder shall be entitled to purchase such number of Warrant Shares as if the total outstanding amount of the Note (including
accrued but unpaid interest) was converted. For example, if the Holder converts the Note into 1,000 shares of the Company’s common
stock, then the Holder shall receive 334 Warrant Shares. The number of Warrant Shares subject to this Warrant will increase automatically
to an amount equal to fifty percent (50%) of the number of shares received by the Holder from the conversion of the Note if either within
90 days after the Warrant Issue Date: (x) the Company has not completed its Initial Public Offering (as defined in the Agreement), or
(y) the Warrant Shares are not registered for resale pursuant to an effective resale registration statement declared effective by the
Securities and Exchange Commission (“SEC”) (the “Increase Event”). So, for example, if Increase
Event occurs and the Holder receives 1,000 shares from the conversion of its Note, the Warrant shall be exercisable for 500 shares rather
than 333 shares. 

     

     

    

2.             The
Warrant Shares are exercisable at an exercise price equal to the Conversion Price of the Note multiplied by 1.25 (“Exercise
Price”). The Conversion Price of the Note is defined in the Senior Secured Convertible Note Purchase Agreement dated August
23, 2022 by and between the Company and the Holder (“Agreement”) and in the Note, both of which are made a part hereof
and are incorporated herein by reference as if fully set forth herein.

 

3.             Right
to Exercise Warrant. The rights represented by this Warrant may be exercised for any number of Warrant Shares represented by this
Warrant at any time and from time to time from the Warrant Issue Date first written above (the “Effective Date”).
The rights represented by this Warrant must be exercised on or before the fifth (5th) anniversary of the Effective Date (the
“Expiration Date”).

 

		4.	Exercise;
                                            Effectiveness; Delivery.

 

4.1     Manner
of Exercise. This Warrant may only be exercised by the Holder hereof, in accordance with the terms and conditions hereof, in whole or
in part with respect to any portion of this Warrant, into shares of Common Stock, during normal business hours on any day other than
a Saturday or a Sunday or a day on which commercial banking institutions in Arizona are authorized by law to be closed (a “Business
Day”) on or prior to the Expiration Date, with respect to such portion of this Warrant, by (i) delivery of a properly executed
Notice of Exercise Form, attached hereto as Exhibit A (an “Exercise Notice”), and (ii) payment to the Company of the
Exercise Price (if the payment is made by check, after funds have cleared the bank) for the number of Warrant Shares specified in the
Exercise Notice together with applicable stock transfer taxes, if any. The Holder shall not be required to deliver the original of this
Warrant in order to effect an exercise hereunder. Execution and delivery of an Exercise Notice with respect to less than all of the Warrant
Shares shall have the same effect as cancellation of the original of this Warrant certificate and issuance of a new Warrant certificate
evidencing the right to purchase the remaining number of Warrant Shares. Execution and delivery of an Exercise Notice for all of the
then-remaining Warrant Shares shall have the same effect as cancellation of the original of this Warrant certificate after delivery of
the Warrant Shares in accordance with the terms hereof.

 

4.2     Effectiveness.
Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the Business Day on
which the Exercise Notice and payment of the Exercise Price is received (if funds are received by check, when the funds have cleared
the bank) by the Company as provided in Section 4.1 hereof (“Exercise Date”), and, at such time, the corporation,
association, partnership, trust, organization, business, individual, government or political subdivision thereof or a governmental agency
(a “Person” or the “Persons”) in whose name or names any certificate or certificates for shares
of Common Stock shall be issuable upon exercise as provided herein shall be deemed to have become the holder or holders of record thereof.
Once all or any portions of this Warrant is exercised and accepted by the Company, all transactions are final and irrevocable.

 

4.3     Delivery
of Stock Certificates; Company’s Failure to Timely Deliver Warrant Shares.

 

(a)
On or before the first (1st) Trading Day following the date on which the Company has received an Exercise Notice, the Company
shall transmit by facsimile an acknowledgment of confirmation of receipt of such Exercise Notice, in the form attached hereto as Exhibit
B, to the Holder and the Company’s transfer agent. On or before the second (2nd) Trading Day following the date on which
the Company has received such Exercise Notice, the Company shall credit such aggregate number of shares of Common Stock to which the
Holder is entitled pursuant to such exercise to the Holder’s or its designee’s balance account with The Depository Trust
Company (“DTC”) through its Deposit/ Withdrawal at Custodian system. Upon delivery of an Exercise Notice, the Holder
shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant
has been exercised, irrespective of the date such Warrant Shares are credited to the Holder’s DTC account. No fractional shares
or scrip representing fractional shares of Common Stock are to be issued upon the exercise of this Warrant, but rather the number of
shares of Common Stock to be issued shall be rounded up to the nearest whole number. The Company shall pay any and all taxes and fees
which may be payable with respect to the issuance and delivery of Warrant Shares upon exercise of this Warrant.

     

     

    

(b)
To the extent permitted by law, the Company’s obligations to issue and deliver the shares of Common Stock upon exercise of the
Warrant in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce
the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any person or any action to
enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or
any other person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other person, and
irrespective of any other circumstance that might otherwise limit such obligation of the Company to the Holder in connection with the
issuance of the shares of Common Stock. Nothing herein shall limit the Holder’s right to pursue any other remedies available to
it hereunder, 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 the shares of Common Stock issuable upon exercise of this Warrant as required pursuant
to the terms hereof.

 

4.4     Shares
to be Fully Paid; Reservation of Shares. The Company covenants and agrees that all shares of Common Stock which may be issued upon the
exercise of rights presented by this Warrant will, upon issuance by the Company, be duly authorized, validly issued, fully paid and non-assessable,
and free from preemptive rights and free from all taxes, liens and charges with respect thereto. The Company further covenants and agrees
that, from and after the date of issuance of the Warrant and during the period within which the rights represented by this Warrant may
be exercised, the Company will at all times have authorized, and reserve, free from preemptive rights, out of its authorized but unissued
shares of Common Stock, solely for the purpose of effecting the exercise of this Warrant, a sufficient number of shares of Common Stock
to provide for the exercise of the rights represented by this Warrant.

 

4.5     Valid
Issuance. With respect to the exercise of this Warrant, the Company hereby represents, covenants and agrees, this Warrant is, and any
Warrant issued in substitution for or replacement of this Warrant shall be, upon issuance, duly authorized and validly issued

 

4.6     Cashless
Exercise. In the event that the Warrant Shares are not registered for resale pursuant to an effective resale registration statement with
the SEC or may not be sold pursuant thereto (a “Registration Failure”), then during any Registration Failure, the aggregate
Exercise Price for the number of Warrant Shares being purchased may also, in the sole discretion of the Holder, be paid in full or in
part on a “cashless basis” at the election of the Holder in the form of Warrant Shares withheld by the Company from the Warrant
Shares otherwise to be received upon exercise of this Warrant having an aggregate Fair Market Value on the date of exercise equal to
the aggregate Exercise Price of the Warrant Shares being purchased by the Holder.

     

     

    

For
purposes of this Warrant, the term “Fair Market Value” means with respect to a particular date, the average closing
price of the Common Stock for the five (5) trading days immediately preceding the applicable exercise herein as officially reported by
the principal market on which the Common Stock is then listed or admitted to trading, or, if the Common Stock is not listed or admitted
to trading on any securities exchange, as determined in good faith by resolution of the Board of Directors of the Company, based on the
best information available to it.

 

For
purposes of illustration of a cashless exercise of this Warrant under this Section 4.6, the calculation of such exercise shall be as
follows:

 

X
= Y (A-B)/A

 

where:

 

X
= the number of Warrant Shares to be issued to the Holder (rounded up to the nearest whole share) (the “Net Number”).

 

Y
= the number of Warrant Shares with respect to which this Warrant is being exercised.

 

A
= the Fair Market Value of the Common Stock.

 

B
= the Exercise Price.

 

For
purposes of Rule 144, it is intended, understood, and acknowledged that the Warrant Shares issuable upon exercise of this Warrant in
a cashless exercise transaction as described in this Section 4.6 above shall be deemed to have been acquired at the time this Warrant
was issued. Moreover, it is intended, understood, and acknowledged that the holding period for the Warrant Shares issuable upon exercise
of this Warrant in a cashless exercise transaction as described in this Section 4.6 above shall be deemed to have commenced on the date
this Warrant was issued.

 

4.7     Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the number of Warrant Shares
to be issued pursuant to the terms hereof, the Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed,
provided that following such issuance to Holder such dispute shall be resolved in accordance with Section 21.

 

4.2     Limitations
on Exercises and Exchanges. Notwithstanding anything to the contrary contained in this Warrant, this Warrant shall not be exercisable
or exchangeable by the Holder hereof to the extent (but only to the extent) that the Holder or any of its affiliates would beneficially
own in excess of 9.99% of the number of shares of Common Stock outstanding after giving effect to the issuance of shares of Common Stock
issuable upon exercise of the Warrants calculated in accordance with Section 13(d) of the Exchange Act (the “Maximum Percentage”).
To the extent the above limitation applies, the determination of whether this Warrant shall be exercisable or exchangeable (vis-à-vis
other convertible, exercisable or exchangeable securities owned by the Holder or any of its affiliates) and of which such securities
shall be exercisable or exchangeable (as among all such securities owned by the Holder) shall, subject to such Maximum Percentage limitation,
be determined on the basis of the first submission to the Company for conversion, exercise or exchange (as the case may be). No prior
inability to exercise or exchange this Warrant pursuant to this paragraph shall have any effect on the applicability of the provisions
of this paragraph with respect to any subsequent determination of exercisability or exchangeability. For the purposes of this paragraph,
beneficial ownership and all determinations and calculations (including, without limitation, with respect to calculations of percentage
ownership) shall be determined in accordance with Section 13(d) of the 1934 Act and the rules and regulations promulgated thereunder.
The provisions of this paragraph shall be implemented in a manner otherwise than in strict conformity with the terms of this paragraph
to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Maximum Percentage beneficial
ownership limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such Maximum
Percentage limitation. The limitations contained in this paragraph shall apply to a successor Holder of this Warrant. For any reason
at any time, upon the written or oral request of the Holder, the Company shall within two (2) Business Days confirm orally and in writing
to the Holder the number of shares of Common Stock then outstanding, including by virtue of any prior conversion or exercise or exchange
of convertible or exercisable or exchangeable securities into shares of Common Stock, including, without limitation, pursuant to this
Warrant or securities issued pursuant to the Agreement, including the Note that was issued in conjunction with this Warrant.

     

     

    

		5.	Warrant
Adjustment.

 

5.1
     Adjustment to Exercise Price and Warrant Shares Upon Dividend, Subdivision or Combination of Common Stock. If the Company shall,
at any time or from time to time after the Warrant Issue Date, (i) pay a dividend or make any other distribution upon the Common Stock
or any other capital stock of the Company payable in shares of Common Stock or in options or convertible securities, or (ii) subdivide
(by any stock split, recapitalization or otherwise) its outstanding shares of Common Stock into a greater number of shares, the Exercise
Price in effect immediately prior to any such dividend, distribution or subdivision shall be proportionately reduced and the number of
Warrant Shares issuable upon exercise of this Warrant shall be proportionately increased. If the Company at any time combines (by combination,
reverse stock split or otherwise) its outstanding shares of Common Stock into a smaller number of shares, the Exercise Price in effect
immediately prior to such combination shall be proportionately increased and the number of Warrant Shares issuable upon exercise of this
Warrant shall be proportionately decreased. Any adjustment under this Section 4.1 shall become effective at the close of business on
the date the dividend, subdivision or combination becomes effective.

 

5.2
     Adjustment to Exercise Price and Warrant Shares Upon Reorganization, Reclassification, Consolidation or Merger. In the event of any (i)
capital reorganization of the Company, (ii) reclassification of the stock of the Company (other than a change in par value or from par
value to no par value or from no par value to par value or as a result of a stock dividend or subdivision, split-up or combination of
shares), (iii) consolidation or merger of the Company with or into another Person, (iv) sale of all or substantially all of the Company’s
assets to another Person or (v) other similar transaction (other than any such transaction covered by Section 4.1), in each case which
entitles the holders of Common Stock to receive (either directly or upon subsequent liquidation) stock, securities or assets with respect
to or in exchange for Common Stock, each Warrant shall, immediately after such reorganization, reclassification, consolidation, merger,
sale or similar transaction, remain outstanding and shall thereafter, in lieu of or in addition to (as the case may be) the number of
Warrant Shares then exercisable under this Warrant, be exercisable for the kind and number of shares of stock or other securities or
assets of the Company or of the successor Person resulting from such transaction to which the Holder would have been entitled upon such
reorganization, reclassification, consolidation, merger, sale or similar transaction if the Holder had exercised this Warrant in full
immediately prior to the time of such reorganization, reclassification, consolidation, merger, sale or similar transaction and acquired
the applicable number of Warrant Shares then issuable hereunder as a result of such exercise (without taking into account any limitations
or restrictions on the exercisability of this Warrant); and, in such case, appropriate adjustment (in form and substance reasonably satisfactory
to the Holder) shall be made with respect to the Holder's rights under this Warrant to ensure that the provisions of this Section 4.2
hereof shall thereafter be applicable, as nearly as possible, to this Warrant in relation to any shares of stock, securities or assets
thereafter acquirable upon exercise of this Warrant (including, in the case of any consolidation, merger, sale or similar transaction
in which the successor or purchasing Person is other than the Company, an immediate adjustment in the Exercise Price to the value per
share for the Common Stock reflected by the terms of such consolidation, merger, sale or similar transaction, and a corresponding immediate
adjustment to the number of Warrant Shares acquirable upon exercise of this Warrant without regard to any limitations or restrictions
on exercise, if the value so reflected is less than the Exercise Price in effect immediately prior to such consolidation, merger, sale
or similar transaction). The provisions of this Section 4.2 shall similarly apply to successive reorganizations, reclassifications, consolidations,
mergers, sales or similar transactions. The Company shall not effect any such reorganization, reclassification, consolidation, merger,
sale or similar transaction unless, prior to the consummation thereof, the successor Person (if other than the Company) resulting from
such reorganization, reclassification, consolidation, merger, sale or similar transaction, shall assume, by written instrument substantially
similar in form and substance to this Warrant and reasonably satisfactory to the Holder, the obligation to deliver to the Holder such
shares of stock, securities or assets which, in accordance with the foregoing provisions, such Holder shall be entitled to receive upon
exercise of this Warrant.

     

     

    

5.3
     Certificate as to Adjustment.

 

(a)
As promptly as reasonably practicable following any adjustment of the Exercise Price, but in any event not later than five (5) Business
Days thereafter, the Company shall furnish to the Holder a certificate of an executive officer setting forth in reasonable detail such
adjustment and the facts upon which it is based and certifying the calculation thereof.

 

(b)
As promptly as reasonably practicable following the receipt by the Company of a written request by the Holder, but in any event not later
than two (2) Business Days thereafter, the Company shall furnish to the Holder a certificate of an executive officer certifying the Exercise
Price then in effect and the number of Warrant Shares or the amount, if any, of other shares of stock, securities or assets then issuable
upon exercise of the Warrant.

 

5.4     
No Impairment. The Company will not, by amendment of its certificate or articles of incorporation or through reorganization, consolidation,
merger, dissolution, sale of assets 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 carry out all such terms and take all such action as may be reasonably necessary or appropriate
in order to protect the rights of the holder of this Warrant against impairment.

     

     

    

		6.	Restrictions
                                            on Transfer.

 

6.1     Restrictive
Legends. This Warrant and each Warrant issued upon transfer or in substitution for this Warrant pursuant to Section 7, each certificate
for Common Stock issued upon the exercise of any Warrant and each certificate issued upon the transfer of any such Common Stock shall
be transferable only upon satisfaction of the conditions specified in this Section 6 and Section 7.4. Each of the foregoing securities,
if required by law, shall be stamped or otherwise imprinted with a legend reflecting the restrictions on transfer set forth in Section
7 hereof and any restrictions required under the Securities Act of 1933, as amended (the “Act”).

 

6.2     Notice
of Proposed Transfer; Opinion of Counsel. Prior to any transfer of any securities, which are not registered under an effective registration
statement under the Act (“Restricted Securities”), the Holder will give written notice to the Company of the Holder's
intention to affect a transfer and to comply in all other respects with this Section 6.2. Each notice (i) shall describe the manner and
circumstances of the proposed transfer, and (ii) shall designate counsel for the Holder giving the notice. The Holder giving notice will
submit a copy thereof to the counsel designated in the notice. The following provisions shall then apply:

 

(a)
     If in the opinion of counsel for the Holder reasonably satisfactory to the Company the proposed transfer
may be effected without registration of Restricted Securities under the Act (which opinion shall state the basis of the legal conclusions
reached therein), the Holder shall thereupon be entitled to transfer the Restricted Securities in accordance with the terms of the notice
delivered by the Holder to the Company. Each certificate representing the Restricted Securities issued upon or in connection with any
transfer shall, if required by law, bear the restrictive legends required by Section 6.1 hereof. The Company shall reimburse the Holder
for reasonable legal fees for the issuance of the opinion, or, the Company may elect, upon written notice to the Holder, to have the
Company’s counsel, at the Company’s expense, issue such opinion required in this Section 6.2.

 

(b)
     If the opinion called for in (a) above is not delivered, the Holder shall not be entitled to transfer the
Restricted Securities until either (i) receipt by the Company of a further notice from such Holder pursuant to the foregoing provisions
of this Section 6.2 and fulfillment of the provisions of clause (a) above, or (ii) such Restricted Securities have been effectively registered
under the Act.

 

(c)
     Notwithstanding the foregoing, the restrictions imposed upon the transferability of any of its rights to
acquire Common Stock or Common Stock issuable on the exercise of such rights do not apply to transfers from the beneficial owner of any
of the aforementioned securities to its nominee or from such nominee to its beneficial owner, and shall terminate as to any particular
share of Common Stock when: (1) such security shall have been effectively registered under the Securities Act and sold by the holder
thereof in accordance with such registration, or (2) such security shall have been sold without registration in compliance with Rule
144 under the Securities Act, or (3) a letter shall have been issued to the Holder at its request by the staff of the SEC or a ruling
shall have been issued to the Holder at its request by the SEC stating that no action shall be recommended by such staff or taken by
SEC, as the case may be, if such security is transferred without registration under the Securities Act in accordance with the conditions
set forth in such letter or ruling and such letter or ruling specifies that no subsequent restrictions on transfer are required. Whenever
the restrictions imposed hereunder shall terminate, as hereinabove provided, the Holder or holder of a share of Common Stock then outstanding
as to which such restrictions have terminated shall be entitled to receive from the Company, without expense to such Holder, one or more
new certificates for the Warrant or for such shares of Common Stock not bearing any restrictive legend.

     

     

    

		7.	Ownership,
                                            Transfer and Substitution of Warrant.

 

7.1     Ownership
of Warrant. The Company may treat the person in whose name this Warrant is registered in the Warrant Register maintained pursuant to
Section 7.2(b) hereof as the owner and holder thereof for all purposes, notwithstanding any notice to the contrary, except that, if and
when any Warrant is properly assigned in blank, the Company may (but shall not be obligated to) treat the bearer thereof as the owner
of such Warrant for all purposes, notwithstanding any notice to the contrary. Subject to Section 6 hereof, this Warrant, if properly
assigned, may be exercised by a new holder without a new Warrant first having been issued.

 

7.2     Office;
Transfer and Exchange of Warrant.

 

(a)     The
Company maintains its principal offices at 17767 N. Perimeter Drive, Suite B115, Scottsdale, AZ 85255 as the office where notices, presentations
and demands in respect of this Warrant may be made upon it until the Company notifies the holder of this Warrant of any change of location
of the office.

 

(b)     The
Company shall cause to be kept at its office maintained pursuant to Section 7.2(a) hereof a Warrant Register for the registration and
transfer of this Warrant. The names and addresses of holders of this Warrant, the transfers thereof and the names and addresses of transferees
of this Warrant shall be registered in such Warrant Register. The Person in whose name any Warrant shall be so registered shall be deemed
and treated as the owner and holder thereof for all purposes of this Warrant, and the Company shall not be affected by any notice or
knowledge to the contrary.

 

(c)     Upon
the surrender of this Warrant, properly endorsed, for registration of transfer or for exchange at the office of the Company maintained
pursuant to Section 7.2(a) hereof, the Company at its expense will (subject to compliance with Section 6 hereof, if applicable) execute
and deliver to or upon the order of the Holder thereof a new Warrant of like tenor, in the name of such holder or as such holder (upon
payment by such holder of any applicable transfer taxes) may direct, calling in the aggregate on the face thereof for the number of shares
of Common Stock called for on the face of this Warrant so surrendered.

 

(d)     The
Holder, by acceptance of this Warrant, agrees to comply in all respects with the restrictive legend requirements set forth on the face
of this Warrant and further agrees that such Holder shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares
to be issued upon exercise hereof except under circumstances that will not result in a violation of the Securities Act of 1933. Subject
to the transfer conditions referred to in the legend endorsed hereon, this Warrant and all rights hereunder are transferable, in whole
or in part, by the Holder without charge to the Holder, upon surrender of this Warrant to the Company at its then principal executive
offices with a properly completed and duly executed Assignment Form attached hereto as Exhibit C, together with funds sufficient to pay
any transfer taxes in connection with the making of such transfer. Upon such compliance, surrender and delivery and, if required, such
payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denominations
specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant, if
any, not so assigned and this Warrant shall promptly be cancelled.

     

     

    

7.3
     Replacement of Warrant. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation
of this Warrant and, in the case of any such loss, theft or destruction of this Warrant, upon delivery of indemnity reasonably satisfactory
to the Company in form or, in the case of any mutilation, upon surrender of this Warrant for cancellation at the office of the Company
maintained pursuant to Section 7.2(a) hereof, the Company at its expense will execute and deliver, in lieu thereof, a new Warrant of
like tenor and dated the date hereof.

 

8.     No
Rights or Liabilities as Stockholder. No Holder shall be entitled to vote or receive dividends or be deemed the holder of any shares
of Common Stock or any other securities of the Company which may at any time be issuable on the exercise hereof for any purpose, nor
shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a stockholder of the Company or
any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold
consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value,
consolidation, merger, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or
otherwise until the Exercise Date as provided in Section 3.2. Until the Exercise Date, the Holder will not be entitled to share in the
assets of the Company in the event of liquidation, dissolution or the winding up of the Company.

 

9.     Notices
of Record Date, Etc. In case the Company shall take a record of the holders of its Common Stock (or other stock or securities at
the time deliverable upon the exercise of this Warrant) for the purpose of entitling or enabling them to receive any stock dividend or
other non-cash distribution, to vote at a meeting (or by written consent), or to receive any right to subscribe for or purchase any shares
of stock of any class or any other securities, or to receive any other right; or of any capital reorganization of the Company, any reclassification
of the capital stock of the Company, any consolidation or merger of the Company with or into another corporation (other than a consolidation
or merger in which the Company is the surviving entity), or any transfer of all or substantially all of the assets of the Company; or
of the voluntary or involuntary dissolution, liquidation or winding-up of the Company, then, and in each such case, the Company will
mail or cause to be mailed to the registered holder of this Warrant a notice specifying, as the case may be: (i) the date on which a
record is to be taken for the purpose of such dividend, distribution, vote or right or other action, and stating the amount and character
of such dividend, distribution or right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger,
transfer, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of record
of Common Stock (or such other stock or securities at the time deliverable upon the exercise of this Warrant) shall be entitled to exchange
their shares of Common Stock (or such other stock or securities) for securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up. Such notice shall be mailed at least ten (10)
Business Days prior to the record date or effective date for the event specified in such notice unless such prior notice is waived in
writing by the registered holder of this Warrant.

 

10.     Notices.
Any notice or other communication in connection with this Warrant shall be deemed to be given if in writing (or in the form of a facsimile)
addressed as hereinafter provided and actually delivered at said address: (a) if to any Holder, at the registered address of such holder
as set forth in the Warrant Register kept at the office of the Company maintained pursuant to Section 7.2(b) hereof, or (b) if to the
Company, to the attention of its Chief Executive Officer at its office maintained pursuant to Section 7.2(a) hereof; provided,
however, that the exercise of any Warrant shall be effective in the manner provided in Section 3 hereof.

     

     

    

11.     Payment
of Taxes. The Company will pay all documentary stamp taxes attributable to the issuance of shares of Common Stock underlying this
Warrant upon exercise of this Warrant; provided, however, that the Company shall not be required to pay any tax which may
be payable in respect of any transfer involved in the registration of any certificate for shares of Common Stock underlying this Warrant
in a name other that of the Holder. The Holder is responsible for all other tax liability that may arise as a result of holding or transferring
this Warrant or receiving shares of Common Stock underlying this Warrant upon exercise hereof.

 

12.     Warrant
Agent. The Company shall serve as warrant agent under this Warrant. Upon thirty (30) days’ notice to the Holder, the Company
may appoint a new warrant agent. Any corporation into which the Company or any new warrant agent may be merged or any corporation resulting
from any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any
new warrant agent transfers substantially all of its corporate trust or stockholder services business shall be successor warrant agent
under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant
agent to be mailed (by first class mail, postage prepaid) to the Holder at the Holder’s last address as shown on the Warrant Register.

 

13.     Severability.
If one or more provisions of this Warrant are held to be unenforceable under applicable law, such provision shall be excluded from the
Warrant and the balance of the Warrant shall be interpreted as if such provision were so excluded and shall be enforceable in accordance
with its terms.

 

14.     Governing
Law. This Warrant shall be governed by and construed in accordance with the laws of New York, without regard for its conflict of
laws rules.

 

15.     Successors.
All of the covenants, agreements, representations and warranties contained in this Warrant shall bind the parties hereto and their respective
heirs, executors, administrators, distributes, successors and assigns.

 

16.     Miscellaneous.
This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party
against which enforcement of the change, waiver, discharge or termination is sought. The section headings in this Warrant are for purposes
of convenience only and shall not constitute a part hereof.

 

17.     Equitable
Relief. Each of the Company and the Holder acknowledges that a breach or threatened breach by such party of any of its obligations
under this Warrant would give rise to irreparable harm to the other party hereto for which monetary damages would not be an adequate
remedy and hereby agrees that in the event of a breach or a threatened breach by such party of any such obligations, the other party
hereto shall, in addition to any and all other rights and remedies that may be available to it in respect of such breach, be entitled
to equitable relief, including a restraining order, an injunction, specific performance and any other relief that may be available from
a court of competent jurisdiction. The rights and remedies provided in this Warrant are cumulative and are not exclusive of, and are
in addition to and not in substitution for, any other rights or remedies available at law, in equity or otherwise.

     

     

    

18.       Entire
Agreement. This Warrant, the Note and the Agreement constitute the entire agreement of the parties with respect to this Warrant with
respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements, both written
and oral, with respect to such subject matter.

 

19.       Amendment
and Modification; Waiver. Except as otherwise provided herein, this Warrant may only be amended, modified or supplemented by an agreement
in writing signed by each party hereto. This is one of a series of Warrants issued pursuant to the Agreement. The Company shall not amend
any other Warrant that makes the terms and conditions more favorable to that Warrant holder unless the Company agrees to amend this Warrant
in the same manner. No waiver by the Company or the Holder of any of the provisions hereof shall be effective unless explicitly set forth
in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure,
breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring
before or after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this
Warrant shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

20.       No
Strict Construction. This Warrant shall be construed without regard to any presumption or rule requiring construction or interpretation
against the party drafting an instrument or causing any instrument to be drafted.

 

21.       Dispute
Resolution. In the case of a dispute as to the determination of the Exercise Price, Fair Market Value or the arithmetic calculation
of the Warrant Shares (as the case may be), the Company or the Holder (as the case may be) shall submit the disputed determinations or
arithmetic calculations (as the case may be) via facsimile (i) within two (2) Business Days after receipt of the applicable notice giving
rise to such dispute to the Company or the Holder (as the case may be) or (ii) if no notice gave rise to such dispute, at any time after
the Holder or the Company (as the case may be) learned of the circumstances giving rise to such dispute. If the Holder and the Company
are unable to agree upon such determination or calculation (as the case may be) of the Exercise Price or fair market value or the number
of Warrant Shares (as the case may be) within three (3) Business Days of such disputed determination or arithmetic calculation being
submitted to the Company or the Holder (as the case may be), then the Company shall, within two (2) Business Days submit via facsimile
(a) the disputed arithmetic calculation of the Warrant Shares, the disputed determination of the Exercise Price or Fair Market Value
(as the case may be) to an independent, reputable investment bank selected by the Holder or (b) if acceptable to the Holder, the disputed
arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company shall cause at its expense
the investment bank or the accountant (as the case may be) to perform the determinations or calculations (as the case may be) and notify
the Company and the Holder of the results no later than ten (10) Business Days from the time it receives such disputed determinations
or calculations (as the case may be). Such investment bank’s or accountant’s determination or calculation (as the case may
be) shall be binding upon all parties absent demonstrable error.

 

22.       Counterparts.
This Warrant may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to
be one and the same agreement. A signed copy of this Warrant delivered by facsimile, e-mail or other means of electronic transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Warrant.

     

     

    

[SIGNATURE
PAGE FOLLOWS]

     

     

    

IN
WITNESS WHEREOF, the Company has caused this Common Stock Purchase Warrant to be duly executed as of the date first above written.

 

	 	ADAMAS ONE CORP.
	 	 	 
	 	By: 	/s/
    John Grdina
	 	 	John
    Grdina
	 	 	Chief
    Executive OfficerExhibit
10.27

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of August 23, 2022 among Adamas One Corp., a Nevada corporation
(the “Company”), each of the investors listed on the signature pages hereto under the caption “Investors”
(collectively, the “Investors”). Except as otherwise specified herein or in the Purchase Agreement (defined below),
all capitalized terms used in this Agreement are defined in Exhibit A attached hereto.

 

RECITALS:

 

A.       The
Company and the Investors are parties to that Senior Secured Convertible Note Purchase Agreement dated of even date herewith
(“Purchase Agreement”) pursuant to which the Investors have loaned funds to the Company in exchange for the
Company’s eight percent (8%) Senior Secured Convertible Promissory Notes, due August 23, 2023, in the original aggregate
principal amount of $4,100,000.00 (collectively, the “Notes”) and the Conversion Shares, the Warrant Agreement
and the Warrant Shares as described in the Purchase Agreement.

 

B.       As
an inducement for the Investors to purchase the Notes, the Company has agreed to register the Conversion Shares and the Warrant Shares
pursuant to the terms of this Agreement.

 

In
consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby agree as follows:

 

Section
1Piggyback Registrations.

 

(a)       Right
to Piggyback. (i) Whenever the Company is required or proposes to register any of its equity securities under the Securities Act
(including primary and secondary registrations, and other than pursuant to an Excluded Registration) (a “Piggyback Registration”),
the Company will give at least thirty (30) days prior written notice to all Holders of its intention to effect such Piggyback Registration
and, subject to the terms of Section 1(b) and (c), will include in such Piggyback Registration (and in all related registrations
or qualifications under blue sky laws and in any related underwriting) all Registrable Securities with respect to which the Company has
received written requests for inclusion therein within twenty (20) days after delivery of the Company’s notice. Such written requests
for inclusion will inform the Company of the number of Registrable Securities such Holder wishes to include in such registration statement.
If a Holder decides not to include all of its Registrable Securities in any registration statement thereafter filed by the Company, such
Holder will nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement or
registration statements as may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions
set forth herein. Any Participating Investors may withdraw its request for inclusion at any time prior to executing the underwriting
agreement, or if none, prior to the applicable registration statement becoming effective.

 

(ii)       If
a registration statement under which the Company gives notice under this Section 1 is for an underwritten offering, then the Company
will so advise the Holders of Registrable Securities. In such event, the right of any such Holder’s Registrable Securities to be
included in a registration pursuant to this Section 1 will be conditioned upon such Holder’s participation in such underwriting
and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing
to distribute their Registrable Securities through such underwriting will enter into an underwriting agreement in customary form with
the managing underwriter or underwriter(s) selected for such underwriting. If any Holder disapproves of the terms of any such underwriting,
such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter, delivered at least ten (10) Business
Days prior to the effective date of the registration statement. Any Registrable Securities excluded or withdrawn from such underwriting
will be excluded and withdrawn from the registration but are eligible for a future registration. For any Holder which is a partnership
or corporation, the partners, retired partners and shareholders of such Holder, or the estates and Family Group of any such partners
and retired partners and any trusts for the benefit of any of the foregoing persons will be deemed to be a single “Holder,”
and any pro rata reduction with respect to such “Holder” will be based upon the aggregate amount of shares carrying registration
rights owned by all entities and individuals included in such “Holder,” as defined in this sentence.

     

     

    

(b)       Priority
on Primary Registrations. If a Piggyback Registration is an underwritten primary registration on behalf of the Company, and the managing
underwriters advise the Company in writing that in their good faith opinion the number of securities requested to be included in such
registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed offering price,
timing or method of distribution of the offering, the Company will include in such registration: (i) first, the securities the
Company proposes to sell, (ii) second, any Investor Registrable Securities requested to be included in such registration by any
Investor which, in the opinion of the underwriters, can be sold without any such adverse effect, pro rata among such Investors
on the basis of the number of Registrable Securities owned by each such Investor, and (iii) third, other securities requested
to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect.

 

(c)       Priority
on Secondary Registrations. If a Piggyback Registration is an underwritten secondary registration on behalf of holders of the Company’s
equity securities and the managing underwriters advise the Company in writing that in their good faith opinion the number of securities
requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability,
proposed offering price, timing or method of distribution of the offering, the Company will include in such registration: (i) first,
the securities requested to be included therein by the Holders initially requesting such registration which, in the opinion of the underwriters,
can be sold without any such adverse effect, (ii) second, the Investor Registrable Securities requested to be included in such
registration, pro rata among the Participating Investors holding such Investor Registrable Securities on the basis of the number
of Investor Registrable Securities owned by each such Participating Investors which, in the opinion of the underwriters, can be sold
without any such adverse effect, (iii) third, other securities requested to be included in such registration which, in the opinion
of the underwriters, can be sold without any such adverse effect.

 

(d)       Right
to Terminate Registration. The Company will have the right to terminate or withdraw any registration initiated by it under this Section
1, whether or not any holder of Registrable Securities has elected to include securities in such registration. The Company shall
give prompt written notice of such termination to all Participating Investors.

 

(e)       Selection
of Underwriters. If any Piggyback Registration is an underwritten offering, the legal counsel for the Company, the investment banker(s)
and manager(s) for the offering shall be selected by the Company.

 

Section
2Stockholder Leak-Out Agreement.

 

(a)       In
connection with any underwritten Public Offering, the Holder will enter into a leak-out agreement acceptable to the Holder, the Company
and any underwriter.

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Section
3Registration Procedures.

 

(a)       Company
Obligations. If and whenever the Company causes the registration of any of its equity securities under the Securities Act (including
primary and secondary registrations, and other than pursuant to an Excluded Registration) as provided in this Agreement, the Company
will use its best efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method
of disposition thereof, and pursuant thereto the Company will as expeditiously as possible:

 

(i)       prepare
and file with (or submit confidentially to) the SEC a registration statement, and all amendments and supplements thereto and related
prospectuses, with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective,
all in accordance with the Securities Act and all applicable rules and regulations promulgated thereunder (provided that before filing
or confidentially submitting a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish
to the counsel selected by the Investors covered by such registration statement copies of all such documents proposed to be filed or
submitted, which documents will be subject to the review and comment of such counsel);

 

(ii)       prepare
and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith
as may be necessary to keep such registration statement effective for a period ending when all of the securities covered by such registration
statement have been disposed of in accordance with the intended methods of distribution by the sellers thereof set forth in such registration
statement (but not in any event before the expiration of any longer period required under the Securities Act or, if such registration
statement relates to an underwritten Public Offering, such longer period as in the opinion of counsel for the underwriters a prospectus
is required by law to be delivered in connection with the sale of Registrable Securities by an underwriter or dealer) and comply with
the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during
such period in accordance with the intended methods of disposition by the sellers thereof set forth in such registration statement;

 

(iii)       furnish,
without charge, to each seller of Registrable Securities thereunder and each underwriter, if any, such number of copies of such registration
statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary
prospectus) (in each case including all exhibits and documents incorporated by reference therein), each amendment and supplement thereto,
each Free Writing Prospectus and such other documents as such seller or underwriter, if any, may reasonably request in order to facilitate
the disposition of the Registrable Securities owned by such seller (the Company hereby consenting to the use in accordance with all applicable
laws of each such registration statement, each such amendment and supplement thereto, and each such prospectus (or preliminary prospectus
or supplement thereto) or Free Writing Prospectus by each such seller of Registrable Securities and the underwriters, if any, in connection
with the offering and sale of the Registrable Securities covered by such registration statement or prospectus);

 

(iv)       use
its best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions
as any seller reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such
seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller (provided that the
Company will not be required to: (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to
qualify but for this subparagraph, (B) consent to general service of process in any such jurisdiction, or (C) subject itself to taxation
in any such jurisdiction);

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(v)       notify
in writing each seller of such Registrable Securities: (A) promptly after it receives notice thereof, of the date and time when such
registration statement and each post-effective amendment thereto has become effective or a prospectus or supplement to any prospectus
relating to a registration statement has been filed and when any registration or qualification has become effective under a state securities
or blue sky law or any exemption thereunder has been obtained, (B) promptly after receipt thereof, of any request by the SEC for the
amendment or supplementing of such registration statement or prospectus or for additional information, and (C) at any time when a prospectus
relating thereto is required to be delivered under the Securities Act, of the happening of any event or of any information or circumstances
as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits
any fact necessary to make the statements therein not misleading, and, if required by applicable law or to the extent requested by the
Investors, the Company will use its best efforts to promptly prepare and file a supplement or amendment to such prospectus so that, as
thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material
fact or omit to state any fact necessary to make the statements therein not misleading, and (D) if at any time the representations and
warranties of the Company in any underwriting agreement, securities sale agreement, or other similar agreement, relating to the offering
shall cease to be true and correct;

 

(vi)       use its best efforts to provide a transfer agent and registrar for all such Registrable Securities not later than the effective date
of such registration statement;

 

(vii)       enter
into and perform such customary agreements (including, as applicable, underwriting agreements in customary form) and take all such
other actions as the Investors or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of
such Registrable Securities (including, without limitation, making available the executive officers of the Company and participating
in “road shows,” investor presentations, marketing events and other selling efforts and effecting a stock or unit split or
combination, recapitalization or reorganization);

 

(viii)       make
available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition or sale pursuant to
such registration statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and
other records, pertinent corporate and business documents and properties of the Company as will be necessary to enable them to exercise
their due diligence responsibility, and cause the Company’s officers, directors, employees, agents, representatives and independent
accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection
with such registration statement and the disposition of such Registrable Securities pursuant thereto;

 

(ix)       take
all actions to ensure that any prospectus utilized in connection with any Piggyback Registration hereunder complies in all material respects
with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with
the Securities Act to the extent required thereby and, when taken together with the related prospectus, prospectus supplement and related
documents, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading;

 

(x)       otherwise
use its best efforts to comply with all applicable rules and regulations of the SEC, and make available to its security holders, as soon
as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the
Company’s first full calendar quarter after the effective date of the registration statement, which earnings statement will satisfy
the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

    -4-

     

    

(xi)       use
its reasonable best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved
by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of
such Registrable Securities;

 

(xii)       if
requested by any managing underwriter, include in any prospectus or prospectus supplement updated financial or business information for
the Company's most recent period or current quarterly period (including estimated results or ranges of results) if required for purposes
of marketing the offering in the view of the managing underwriter;

 

(xiii)       take
no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, however, that to the extent that
any prohibition is applicable to the Company, the Company will take such action as is necessary to make any such prohibition inapplicable;

 

(xiv)       use
its best efforts to provide: (A) a legal opinion of the Company’s outside counsel, dated the effective date of such
registration statement addressed to the Company, (B) on the date that such Registrable Securities are delivered to the underwriters
for sale in connection with a Piggy-Back Registration, if such securities are being sold through underwriters, or, if such
securities are not being sold through underwriters, on the closing date of the applicable sale, (1) one or more legal opinions of
the Company’s outside counsel, dated such date, in form and substance as customarily given to underwriters in an underwritten
public offering or, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders
assisting in the sale of the Registrable Securities, and (2) one or more “negative assurances letters” of the
Company’s outside counsel, dated such date, in form and substance as is customarily given to underwriters in an underwritten
public offering or, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders
assisting in the sale of the Registrable Securities, in each case, addressed to the underwriters, if any, or, if requested, in the
case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the
Registrable Securities, (3) a “comfort” letter dated as of such date, from the independent certified public accountants
of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an
underwritten public offering and reasonably satisfactory to a majority in interest of the Holders requesting registration, or, in
the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the
Registrable Securities, in each case, addressed to the underwriters, if any, or, if requested, in the case of a non-underwritten
offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the Registrable Securities and to
the Holders, and (4) customary certificates executed by authorized officers of the Company as may be requested by any Holder or any
underwriter of such Registrable Securities;

 

(b)       Additional
Information. The Company may require each seller of Registrable Securities as to which any registration is being effected to furnish
the Company such information regarding such seller and the distribution of such securities as the Company may from time to time reasonably
request in writing, as a condition to such seller’s participation in such registration.

 

(c)       Other.
To the extent that any of the Investors are or may be deemed to be an “underwriter” of Registrable Securities pursuant to
any SEC comments or policies, the Company agrees that: (i) the indemnification and contribution provisions contained in Section 5
shall be applicable to the benefit of such Investors in their role as an underwriter or deemed underwriter in addition to their capacity
as a Holder, and (ii) such Investors shall be entitled to conduct the due diligence which they would normally conduct in connection with
an offering of securities registered under the Securities Act, including without limitation receipt of customary opinions and comfort
letters addressed to such Investors.

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Section
4Registration Expenses.

 

Except
as expressly provided herein, all out-of-pocket expenses incurred by the Company or any Investors in connection with the performance
of or compliance with this Agreement and/or in connection with any Piggyback Registration, whether or not the same shall become effective,
shall be paid by the Company, including, without limitation: (i) all registration and filing fees, and any other fees and expenses associated
with filings required to be made with the SEC or FINRA, (ii) all fees and expenses in connection with compliance with any securities
or “blue sky” laws, (iii) all printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses
(including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust
Company or other depositary and of printing prospectuses and Company Free Writing Prospectuses), (iv) all fees and disbursements of all
independent certified public accountants of the Company (including the expenses of any special audit and cold comfort letters required
by or incident to such performance), (v) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters
so require in accordance with then-customary underwriting practice, (vi) all fees and expenses incurred in connection with the listing
of the Registrable Securities on any securities exchange on which similar securities of the Company are then listed (or on which exchange
the Registrable Securities are proposed to be listed), (vii) all applicable rating agency fees with respect to the Registrable Securities,
(viii) all fees and disbursements of legal counsel for the Company, (ix) any fees and disbursements of underwriters customarily paid
by issuers or sellers of securities, (x) all fees and expenses of any special experts or other Persons retained by the Company in connection
with any Registration, (xi) all of the Company’s internal expenses (including all salaries and expenses of its officers and employees
performing legal or accounting duties), and (xii) all expenses related to the “road-show” for any underwritten offering,
including all travel, meals and lodging. All such expenses are referred to herein as “Registration Expenses.” The
Company shall not be required to pay, and each Person that sells securities pursuant to a Piggyback Registration hereunder will bear
and pay, all underwriting discounts and commissions applicable to the Registrable Securities sold for such Person’s account and
all transfer taxes (if any) attributable to the sale of Registrable Securities.

 

Section
5Indemnification and Contribution.

 

(a)       By
the Company. The Company will indemnify and hold harmless, to the fullest extent permitted by law and without limitation as to time,
each Holder, such Holder’s affiliates and their respective officers, directors employees, agents, fiduciaries, stockholders, managers,
partners, members, affiliates, direct and indirect equity holders, consultants and representatives, and any successors and assigns thereof,
and each Person who controls such Holder (within the meaning of the Securities Act or the Exchange Act) (the “Indemnified Parties”)
against all losses, claims, actions, damages, liabilities and expenses (including with respect to actions or proceedings, whether commenced
or threatened, and including reasonable attorney fees and expenses) (collectively, “Losses”) caused by, resulting from, arising
out of, based upon or related to any of the following (each, a “Violation”) by the Company: (i) any untrue or alleged untrue
statement of material fact contained in (A) any registration statement, prospectus, preliminary prospectus or Free-Writing Prospectus,
or any amendment thereof or supplement thereto, or (B) any application or other document or communication (in this Section 5, collectively
called an “application”) executed by or on behalf of the Company or based upon written information furnished by or on behalf
of the Company filed in any jurisdiction in order to qualify any securities covered by such registration under the “blue sky”
or securities laws thereof, (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make
the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act or any other
similar federal or state securities laws or any rule or regulation promulgated thereunder applicable to the Company and relating to action
or inaction required of the Company in connection with any such registration, qualification or compliance. In addition, the Company will
reimburse such Indemnified Party for any legal or any other expenses reasonably incurred by them in connection with investigating, defending
or settling any such Losses. Notwithstanding the foregoing, the Company will not be liable in any such case to the extent that any such
Losses result from, arise out of, are based upon, or relate to an untrue statement, or omission, made in such registration statement,
any such prospectus, preliminary prospectus or any amendment or supplement thereto, or in any application, in reliance upon, and in conformity
with, written information prepared and furnished in writing to the Company by such Indemnified Party expressly for use therein or by
such Indemnified Party’s failure to deliver a copy of the registration statement or prospectus or any amendments or supplements
thereto after the Company has furnished such Indemnified Party with a sufficient number of copies of the same. In connection with an
underwritten offering, the Company will indemnify such underwriters, their officers and directors, and each Person who controls such
underwriters (within the meaning of the Securities Act or the Exchange Act) to the same extent as provided above with respect to the
indemnification of the Indemnified Parties or as otherwise agreed to in the underwriting agreement executed in connection with such underwritten
offering. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by
or on behalf of such Indemnified Party and shall survive the transfer of such securities by such seller.

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(b)       By
Holders. In connection with any registration statement in which a Holder is participating, each such Holder will furnish to the Company
in writing such information and affidavits as the Company reasonably requests for use in connection with any such registration statement
or prospectus and, to the extent permitted by law, will indemnify the Company, its officers, directors, employees, agents and representatives,
and each Person who controls the Company (within the meaning of the Securities Act or the Exchange Act) against any Losses resulting
from (as determined by a final and non-appealable judgment, order or decree of a court of competent jurisdiction) any untrue statement
of material fact contained in the registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement
thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading,
but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by
such Holder expressly for use therein; provided that the obligation to indemnify will be individual, not joint and several, and
pro-rata based on the number of Registrable Shares included in such registration statement for each Holder and will be limited
to the net amount of proceeds received by such Holder from the sale of Registrable Securities pursuant to such registration statement.

 

(c)       Claim
Procedure. Any Person entitled to indemnification hereunder will: (i) give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification (provided that the failure to give prompt notice will impair any Person’s
right to indemnification hereunder only to the extent such failure has prejudiced the indemnifying party), and (ii) unless in such indemnified
party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to
such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified
party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified
party without its consent (but such consent will not be unreasonably withheld, conditioned or delayed). An indemnifying party who is
not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one
counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified
party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such
claim or the indemnifying party. In such instance, the conflicted indemnified parties will have a right to retain one separate counsel,
chosen by the majority of the conflicted indemnified parties involved in the indemnification and approved by the Investors, at the expense
of the indemnifying party.

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(d)       Contribution.
If the indemnification provided for in this Section 5 is held by a court of competent jurisdiction to be unavailable to, or is
insufficient to hold harmless, an indemnified party or is otherwise unenforceable with respect to any Loss referred to herein, then such
indemnifying party will contribute to the amounts paid or payable by such indemnified party as a result of such Loss, (i) in such proportion
as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other hand
in connection with the statements or omissions which resulted in such Loss as well as any other relevant equitable considerations, or
(ii) if the allocation provided by clause (i) of this Section 5(d) is not permitted by applicable law, then in such proportion
as is appropriate to reflect not only such relative fault but also the relative benefit of the Company on the one hand and of the sellers
of Registrable Securities and any other sellers participating in the registration statement on the other in connection with the statement
or omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided that the maximum
amount of liability in respect of such contribution will be individual, not joint and several, and pro-rata based on the number
of Registrable Shares included in such registration statement for each Holder and shall be limited, in the case of each seller of Registrable
Securities, to an amount equal to the net proceeds actually received by such seller from the sale of Registrable Securities effected
pursuant to such registration. The relative fault of the indemnifying party and of the indemnified party will be determined by reference
to, among other things, whether the untrue (or, as applicable alleged) untrue statement of a material fact or the omission to state a
material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would
not be just or equitable if the contribution pursuant to this Section 5(d) were to be determined by pro rata allocation
or by any other method of allocation that does not take into account such equitable considerations. The amount paid or payable by an
indemnified party as a result of the Losses referred to herein will be deemed to include any legal or other expenses reasonably incurred
by such indemnified party in connection with investigating or defending against any action or claim which is the subject hereof. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution
from any Person who is not guilty of such fraudulent misrepresentation.

 

(e)       Release.
No indemnifying party will, except with the consent of the indemnified party, consent to the entry of any judgment or enter into any
settlement that does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of
a full and unconditional release from all liability in respect to such claim or litigation.

 

(f)       Non-exclusive
Remedy; Survival. The indemnification and contribution provided for under this Agreement will be in addition to any other rights
to indemnification or contribution that any indemnified party may have pursuant to law or contract (and the Company and its Subsidiaries
shall be considered the indemnitors of first resort in all such circumstances to which this Section 5 applies) and will remain
in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling
Person of such indemnified party and will survive the transfer of Registrable Securities and the termination or expiration of this Agreement.

 

Section
6Cooperation with Underwritten Offerings.

 

No
Person may participate in any underwritten registration hereunder unless such Person: (i) agrees to sell such Person’s securities
on the basis provided in any underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements
(including, without limitation, pursuant to the terms of any over-allotment or “green shoe” option requested by the underwriters;
provided that no Holder will be required to sell more than the number of Registrable Securities such Holder has requested to include
in such registration), and (ii) completes, executes and delivers all questionnaires, powers of attorney, stock powers, custody agreements,
indemnities, underwriting agreements and other documents and agreements required under the terms of such underwriting arrangements or
as may be reasonably requested by the Company and the lead managing underwriter(s). To the extent that any such agreement is entered
into pursuant to, and consistent with, Section 2, Section 3 and/or this Section 6, the respective rights and obligations created under
such agreement will supersede the respective rights and obligations of the Holders, the Company and the underwriters created thereby
with respect to such registration.

    -8-

     

    

Section
7Joinder.

 

(a)       Joinder.
The Investors or the Company may from time to time permit any Person who acquires Common Equity (or rights to acquire Common Equity)
to become a party to this Agreement and to be entitled to and be bound by all of the rights and obligations as a Holder by obtaining
a Joinder. Upon the execution and delivery of an executed joinder to this Agreement from such Person in the form of Exhibit B
attached hereto (a “Joinder”) by such Person, the Common Equity held by such Person shall be considered to have Registrable
Securities, and such Person shall be deemed the category of Holder (i.e. Investors), in each case as set forth on the signature page
to such Joinder. For the avoidance of doubt, no Person shall be considered a Holder hereunder without execution of a Joinder and no assignment
shall otherwise be permitted.

 

Section
8General Provisions.

 

(a)       Amendments
and Waivers. Except as otherwise provided herein, the provisions of this Agreement may be amended, modified or waived only with the
prior written consent of the Company and the Investors holding shares of Registrable Securities representing a majority of all Registrable
Securities; provided that no such amendment, modification or waiver that would treat a specific Holder or group of Holders of Registrable
Securities (i.e., Other Investors) in a manner materially and adversely different than any other Holder or group of Holders will be effective
against such Holder or group of Holders without the consent of the holders of a majority of the Registrable Securities that are held
by the group of Holders that is materially and adversely affected thereby. The failure or delay of any Person to enforce any of the provisions
of this Agreement will in no way be construed as a waiver of such provisions and will not affect the right of such Person thereafter
to enforce each and every provision of this Agreement in accordance with its terms. A waiver or consent to or of any breach or default
by any Person in the performance by that Person of his, her or its obligations under this Agreement will not be deemed to be a consent
or waiver to or of any other breach or default in the performance by that Person of the same or any other obligations of that Person
under this Agreement.

 

(b)       Remedies.
The parties to this Agreement will be entitled to enforce their rights under this Agreement specifically (without posting a bond or other
security), to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights existing
in their favor. The parties hereto agree and acknowledge that a breach of this Agreement would cause irreparable harm and money damages
would not be an adequate remedy for any such breach and that, in addition to any other rights and remedies existing hereunder, any party
will be entitled to seek specific performance and/or other injunctive relief from any court of law or equity of competent jurisdiction
(without posting any bond or other security) in order to enforce or prevent violation of the provisions of this Agreement.

 

(c)       Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited, invalid, illegal or unenforceable in any respect under any applicable
law or regulation in any jurisdiction, such prohibition, invalidity, illegality or unenforceability will not affect the validity, legality
or enforceability of any other provision of this Agreement in such jurisdiction or in any other jurisdiction, but this Agreement will
be reformed, construed and enforced in such jurisdiction as if such prohibited, invalid, illegal or unenforceable provision had never
been contained herein.

 

(d)       Entire
Agreement. Except as otherwise provided herein, this Agreement contains the complete agreement and understanding among the parties
hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations
by or among the parties hereto, written or oral, which may have related to the subject matter hereof in any way.

    -9-

     

    

(e)       Successors
and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit and be enforceable by the Company
and its successors and permitted assigns and the Holders (including, specifically, the Investors) and their respective successors and
permitted assigns (whether so expressed or not).

 

(f)       Notices.
Any notice, demand or other communication to be given under or by reason of the provisions of this Agreement will be in writing and will
be deemed to have been given: (i) when delivered personally to the recipient, (ii) when sent by confirmed electronic mail or facsimile
if sent during normal business hours of the recipient; but if not, then on the next Business Day, (iii) one Business Day after it is
sent to the recipient by reputable overnight courier service (charges prepaid) or (iv) four Business Days after it is mailed to the recipient
by first class mail, return receipt requested. Such notices, demands and other communications will be sent to the Company at the address
specified on the signature page hereto or any Joinder and to any Holder, or at such address or to the attention of such other Person
as the recipient party has specified by prior written notice to the sending party. Any party may change such party’s address for
receipt of notice by giving prior written notice of the change to the sending party as provided herein.

 

The
Company’s address is:

 

Adamas
One Corp.

17767
N. Perimeter Dr., Suite B115

Scottsdale,
AZ 85255

Attn:
John Grdina

jayg@adamasone.com

 

With
a copy to:

 

Greenberg
Traurig LLP

Raymond
A. Lee, Esq.

18565
Jamboree Road, Suite 500

Irvine,
CA 92612

leer@gtlaw.com

 

(g)       Business
Days. If any time period for giving notice or taking action hereunder expires on a day that is not a Business Day, the time period
will automatically be extended to the Business Day immediately following such Saturday, Sunday or legal holiday.

 

(h)       Governing
Law. The corporate law of the State of New York will govern all issues and questions concerning the relative rights of the Company
and its equity holders. All other issues and questions concerning the construction, validity, interpretation and enforcement of this
Agreement and the exhibits and schedules hereto will be governed by, and construed in accordance with, the laws of the State of New York,
without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of New York or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of New York. In furtherance of the foregoing, the
internal law of the State of New York will control the interpretation and construction of this Agreement (and all schedules and exhibits
hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction
would ordinarily apply.

    -10-

     

    

(i)       MUTUAL
WAIVER OF JURY TRIAL. AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER
HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING
RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY.

 

(j)       CONSENT
TO JURISDICTION AND SERVICE OF PROCESS. EACH OF THE PARTIES IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED
STATES DISTRICT COURT FOR THE DISTRICT OF NEW YORK, FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS
AGREEMENT, ANY RELATED AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES HERETO FURTHER AGREES THAT
SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH PARTY’S RESPECTIVE ADDRESS SET FORTH ABOVE
WILL BE EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO WHICH IT HAS SUBMITTED TO
JURISDICTION IN THIS PARAGRAPH. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION TO THE LAYING OF
VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY
AND THEREBY IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW YORK, AND HEREBY AND THEREBY FURTHER IRREVOCABLY AND
UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY
SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

(k)       No
Recourse. Notwithstanding anything to the contrary in this Agreement, the Company and each Holder agrees and acknowledges that no
recourse under this Agreement or any documents or instruments delivered in connection with this Agreement, will be had against any current
or future director, officer, employee, general or limited partner or member of any Holder or any Affiliate or assignee thereof, whether
by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable
law, it being expressly agreed and acknowledged that no personal liability whatsoever will attach to, be imposed on or otherwise be incurred
by any current or future officer, agent or employee of any Holder or any current or future member of any Holder or any current or future
director, officer, employee, partner or member of any Holder or of any Affiliate or assignee thereof, as such for any obligation of any
Holder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect
of or by reason of such obligations or their creation.

 

(l)       Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part
of this Agreement. The use of the word

 

“including”
in this Agreement will be by way of example rather than by limitation.

 

(m)       No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties hereto to express
their mutual intent, and no rule of strict construction will be applied against any party.

 

(n)       Counterparts.
This Agreement may be executed in multiple counterparts, any one of which need not contain the signature of more than one party, but
all such counterparts taken together will constitute one and the same agreement.

    -11-

     

    

(o)       Electronic
Delivery. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith
or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of
a photographic, photostatic, facsimile or similar reproduction of such signed writing using a facsimile machine or electronic mail will
be treated in all manner and respects as an original agreement or instrument and will be considered to have the same binding legal effect
as if it were the original signed version thereof delivered in person. No party hereto or to any such agreement or instrument will raise
the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument was
transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability
of a contract and each such party forever waives any such defense.

 

(p)       Further
Assurances. In connection with this Agreement and the transactions contemplated hereby, each Holder agrees to execute and deliver
any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform
the provisions of this Agreement and the transactions contemplated hereby.

 

(q)       Dividends,
Recapitalizations, Etc. If at any time or from time to time there is any change in the capital structure of the Company by way of
a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization,
or by any other means, appropriate adjustment will be made in the provisions hereof so that the rights and privileges granted hereby
will continue.

 

(r)       No
Third-Party Beneficiaries. No term or provision of this Agreement is intended to be, or shall be, for the benefit of any Person not
a party hereto, and no such other Person shall have any right or cause of action hereunder, except as otherwise expressly provided herein.

 

(s)       Current
Public Information. At all times after the Company has filed a registration statement with the SEC pursuant to the requirements of
either the Securities Act or the Exchange Act, the Company will file all reports required to be filed by it under the Securities Act
and the Exchange Act and will take such further action as the Investors may reasonably request, all to the extent required to enable
such Holders to sell Registrable Securities pursuant to Rule 144.

 

(t)       Costs
and Attorneys’ Fees. In the event any action, suit or other proceeding is instituted concerning or arising out of this Agreement
or any transaction contemplated hereunder, the prevailing party will recover all of such party’s costs and attorneys’ fees
incurred in each such action, suit or other proceeding, including any and all appeals or petitions therefrom.

 

* * * * *

    -12-

     

    

IN
WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first written above.

 

	 	ADAMAS ONE CORP.
	 	 	 
	 	By: 	/s/
    John Grdina
	 	 	John
    Grdina
	 	 	Chief
    Executive Officer

 

	 	INVESTORS:
	 	 
	 	DIGITAL POWER LENDING, LLC

 

	 	By: 	/s/
    David J. Katzoff

	 	Name: David J. Katzoff
	 	Its: Manager
	 	940 South Coast Drive, Suite 200
	 	Costa Mesa, California 92626

 

[Signature
Page to Registration Rights Agreement]

     

     

    

EXHIBIT
A

 

1.     DEFINITIONS

 

Capitalized
terms used in this Agreement have the meanings set forth below.

 

“Affiliate”
of any Person means any other Person controlled by, controlling or under common control with such Person and, in the case of an individual,
also includes any member of such individual’s Family Group. As used in this definition, “control” (including,
with its correlative meanings, “controlling,” “controlled by” and “under common control
with”) will mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether
through ownership of securities, by contract or otherwise).

 

“Agreement”
has the meaning set forth in the first paragraph of this document on page 1.

 

“Business
Day” means a day that is not a Saturday or Sunday or a day on which banks in New York City are authorized or requested by law
to close.

 

“Common
Equity” means the Company’s common stock, par value $0.001 per share.

 

“Company”
has the meaning set forth in the first paragraph of this Agreement and shall include its successor(s).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor federal law then in force, together
with all rules and regulations promulgated thereunder.

 

“Excluded
Registration” means any registration of equity securities of the Company solely for a Company sponsored employee benefit plan.

 

“Family
Group” means with respect to any individual, such individual’s current or former spouse, their respective parents, descendants
of such parents (whether natural or adopted) and the spouses of such descendants, any trust, limited partnership, corporation or limited
liability company established solely for the benefit of such individual or such individual’s current or former spouse, their respective
parents, descendants of such parents (whether natural or adopted) or the spouses of such descendants.

 

“FINRA”
means the Financial Industry Regulatory Authority.

 

“Free
Writing Prospectus” means a free-writing prospectus, as defined in Rule 405.

 

“Holdback
Period” has the meaning set forth in Section 2.

 

“Holder”
means a holder of Registrable Securities who is a party to this Agreement (including by way of Joinder).

 

“Indemnified
Parties” has the meaning set forth in Section 5(d).

 

“Investor
Registrable Securities” means: (i) any Common Equity held (directly or indirectly) by any Investor or any of its Affiliates,
including the Conversion Shares and Warrant Shares, as described in the Agreement, and (ii) any equity securities of the Company or any
Subsidiary issued or issuable with respect to the securities referred to in clauses (i) or (ii) above by way of dividend, distribution,
split or combination of securities, or any recapitalization, merger, consolidation or other reorganization.

    A-1

     

    

“Investors”
has the meaning set forth in the first paragraph of this Agreement. recitals. Any decision to be made under this Agreement by the Investors
shall be made by the Investors holding a majority of the Registrable Securities held by the Investors.

 

“Joinder”
has the meaning set forth in Section 7(a).

 

“Losses”
has the meaning set forth in Section 1(c).

 

“Other
Investors” has the meaning set forth in Section 8(a).

 

“Participating
Investors” means any Investors participating in the request for a Piggyback

 

Registration.

 

“Person”
means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

 

“Piggyback
Registrations” has the meaning set forth in Section 1.

 

“Public
Offering” means any sale or distribution by the Company, one of its Subsidiaries and/or Holders to the public of Common Equity
or other securities convertible into or exchangeable for Common Equity pursuant to an offering registered under the Securities Act.

 

“Registrable
Securities” means Investor Registrable Securities. As to any particular Registrable Securities, such securities will cease
to be Registrable Securities (and may not thereafter become Registrable Securities) when they have been: (a) sold or distributed
pursuant to a Public Offering, (b) sold in compliance with Rule 144, or (c) repurchased by
the Company or a Subsidiary of the Company. For purposes of this Agreement, a Person will be deemed to be a holder of Registrable
Securities, and the Registrable Securities will be deemed to be in existence, whenever such Person has the right to acquire,
directly or indirectly, such Registrable Securities (upon conversion or exercise in connection with a transfer of securities or
otherwise, but disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has
actually been effected, and such Person will be entitled to exercise the rights of a holder of Registrable Securities hereunder (it
being understood that a holder of Registrable Securities may only request that Registrable Securities in the form of Common Equity
be registered pursuant to this Agreement). Notwithstanding the foregoing any Registrable Securities held by any Person (other than
any Investors or their Affiliates) that may be sold under Rule 144(b)(1)(i) without limitation under any of the other requirements
of Rule 144 will be deemed not to be Registrable Securities.

 

“Registration
Expenses” has the meaning set forth in Section 4.

 

“Rule
144”, “Rule 158”, and “Rule 405”, “”” mean, in each case, such rule
promulgated under the Securities Act (or any successor provision) by the SEC, as the same will be amended from time to time, or any successor
rule then in force.

 

“Sale
Transaction” has the meaning set forth in Section 2.

 

“SEC”
means the United States Securities and Exchange Commission.

 

“Securities”
has the meaning set forth in Section 1(a).

    A-2

     

    

“Securities
Act” means the Securities Act of 1933, as amended from time to time, or any successor federal law then in force, together with
all rules and regulations promulgated thereunder.

 

“Subsidiary”
means, with respect to the Company, any corporation, limited liability company, partnership, association or other business entity of
which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly,
by the Company or one or more of the other Subsidiaries of the Company or a combination thereof, or (ii) if a limited liability company,
partnership, association or other business entity, a majority of the limited liability company, partnership or other similar ownership
interest thereof is at the time owned or controlled, directly or indirectly, by the Company or one or more Subsidiaries of the Company
or a combination thereof. For purposes hereof, a Person or Persons will be deemed to have a majority ownership interest in a limited
liability company, partnership, association or other business entity if such Person or Persons will be allocated a majority of limited
liability company, partnership, association or other business entity gains or losses or will be or control the managing director or general
partner of such limited liability company, partnership, association or other business entity.

 

“Violation”
has the meaning set forth in Section 5(a).

    A-3

     

    

EXHIBIT
B

 

The
undersigned is executing and delivering this Joinder pursuant to the Registration Rights Agreement dated as of August 23, 2022 (as amended,
modified and waived from time to time, the “Registration Agreement”), among Adamas One Corp., a Nevada corporation
(the “Company”), and the other persons named as parties therein (including pursuant to other Joinders). Capitalized
terms used herein have the meaning set forth in the Registration Agreement.

 

By
executing and delivering this Joinder to the Company, the undersigned hereby agrees to become a party to, to be bound by, and to comply
with the provisions of, the Registration Agreement as a Holder in the same manner as if the undersigned were an original signatory to
the Registration Agreement, and the undersigned will be deemed for all purposes to be a Holder, an [Investor] and the undersigned’s
____________ shares of Common Equity will be deemed for all purposes to be an Investor Registrable Securities under the Registration
Agreement.

 

Accordingly,
the undersigned has executed and delivered this Joinder as of the ___ day of ____________, 202___.

 

	 	 	 
	 	Signature	 
	 	 	 
	 	 	 
	 	 	 
	 	Print
    Name	 
	 	 	 
	 	Address:	 
	 	 	 
	 	 	 

 

Agreed
and Accepted as of

 

________________,
202___:

 

ADAMAS
ONE CORP.

 

	By: 	 

 

	Its:

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