Document:

Exhibit
4.7

 

 

March 6, 2020

 

Securities
and Exchange Commission

100 F Street, NE

Washington.
D.C. 20549

 

RE: SB
Financial Group, Inc. – Annual Report on Form 10-K for the fiscal year ended December 31, 2019

 

Ladies and
Gentlemen:

 

SB Financial Group, Inc., an
Ohio corporation (“SB Financial”), is today filing with the Securities and Exchange Commission (the
“SEC”) the Annual Report on Form 10-K of SB Financial for the fiscal year ended December 31, 2019 (“SB
Financial’s 2019 Form 10-K”).

 

Pursuant to the
instructions relating to the Exhibits in Item 601(b)(4)(iii) of Regulation S-K, SB Financial hereby agrees to furnish to the
SEC, upon request, copies of instruments and agreements defining the rights of holders of long-term debt and of the long-term
debt of its consolidated subsidiaries, which are not being filed as exhibits to SB Financial’s 2019 Form 10-K. None of
such long-term debt exceeds 10 percent of the total assets of SB Financial and its subsidiaries on a consolidated basis.

 

Very truly yours,

 

SB FINANCIAL GROUP, INC.

 

/s/ Anthony V. Cosentino

 

Anthony V. Cosentino

Executive Vice President and

Chief Financial Officer

 

CORPORATE OFFICE

401 Clinton Street |
Defiance, OH 43512

P 419.783.8950 | F
419.784.4034

YourStateBank.comExhibit
4.8

 

Description
of capital stock 

 

The
following is a summary of information concerning capital stock of TearLab Corporation (“us,” “our,” “we”
or the “Company”) and certain provisions of our amended and restated certificate of incorporation and amended and
restated bylaws currently in effect. This summary does not purport to be complete and is qualified in its entirety by the provisions
of our amended and restated certificate of incorporation, including all amendments thereto, and our amended and restated bylaws,
each previously filed with the Securities and Exchange Commission (“SEC”) and incorporated by reference as an exhibit
to the Annual Report on Form 10-K of which this Exhibit 4.8 is a part, as well as to the applicable provisions of the Delaware
General Corporation Law (the “DGCL”). We encourage you to read our certificate of incorporation, bylaws and the applicable
portions of the DGCL carefully.

 

General

 

Our
amended and restated certificate of incorporation authorizes two classes of stock, common stock and preferred stock. Our authorized
capital stock consists of 40,000,000 shares of common stock, $0.001 par value per share, and 10,000,000 shares of preferred stock,
$0.001 par value per share.

 

Common
Stock

 

Voting
Rights

 

Each
holder of common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including
the election of directors. Our amended and restated certificate of incorporation and amended and restated bylaws do not provide
for cumulative voting rights. Because of this, the holders of a plurality of the shares of common stock entitled to vote in any
election of directors can elect all of the directors standing for election, if they should so choose. With respect to matters
other than the election of directors, at any meeting of the stockholders at which a quorum is present or represented, the affirmative
vote of a majority of the voting power of the shares present in person or represented by proxy at such meeting and entitled to
vote on the subject matter shall be the act of the stockholders, except as otherwise required by law. The holders of a majority
of the stock issued and outstanding and entitled to vote, present in person or represented by proxy, shall constitute a quorum
for the transaction of business at all meetings of the stockholders.

 

Dividends

 

Subject
to preferences that may be applicable to any then outstanding preferred stock, holders of common stock are entitled to receive
dividends, if any, as may be declared from time to time by the board of directors out of legally available funds.

 

Liquidation

 

In
the event of our liquidation, dissolution or winding up, holders of common stock will be entitled to share ratably in the net
assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities and the
satisfaction of any liquidation preference granted to the holders of any then outstanding shares of preferred stock.

 

Rights
and Preferences

 

Holders
of common stock have no preemptive, conversion, subscription or other rights, and there are no redemption or sinking fund provisions
applicable to the common stock. The rights, preferences and privileges of the holders of common stock are subject to and may be
adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate in the future.

 

    	 

    	 

    

 

Preferred
Stock

 

Our
board of directors has the authority, without further action by our stockholders, to designate and issue up to 10,000,000 shares
of preferred stock in one or more series. Our board of directors may also designate the rights, preferences and privileges of
each such series of preferred stock, any or all of which may be greater than or senior to those of the common stock. Subject to
the determination of our board of directors, any shares of our preferred stock that may be issued in the future would generally
have preferences over our common stock with respect to the payment of dividends and the distribution of assets in the event of
our liquidation, dissolution or winding up.

 

Transfer
Agents

 

The
transfer agent for our common stock is Computershare, P.O. Box 40378, Providence, RI 02940-3078, (888) 667-7671.

 

Listing

 

Our
common stock is quoted on the OTCQB under the trading symbol “TEAR”.

 

Delaware
Anti-Takeover Statute

 

Our
restated certificate of incorporation provides that we have opted out of the provisions of Section 203 of the Delaware General
Corporation Law, or the DGCL. Section 203 of the DGCL prohibits a publicly held Delaware corporation from engaging in a “business
combination” with an “interested stockholder” for a period of three years after the time the person became an
interested stockholder, unless the business combination, or the transaction in which the stockholder became an interested stockholder,
is approved in a prescribed manner. Since we will have opted out in the manner permitted under the DGCL, these restrictions will
not apply to us.

 

Other
Anti-Takeover Provisions of Our Restated Certificate of Incorporation and Amended and Restated Bylaws

 

Our
restated certificate of incorporation and amended and restated bylaws contains several provisions, in addition to those pertaining
to the issuance of additional shares of our authorized common stock and preferred stock without the approval of the holders of
our common stock, that could delay or make more difficult the acquisition of our company through a hostile tender offer, open
market purchases, proxy contest, merger or other takeover attempt that a stockholder might consider to be in such holder’s
best interest, including those attempts that might result in a premium over the market price of our common stock.EXHIBIT
10.1

 

ASSIGNMENT
AGREEMENT

 

THIS
ASSIGNMENT AGREEMENT (the “Agreement”) is made effective as of the 5th day of March 2020, by and among
POWER UP LENDING GROUP LTD., having a principal place of business at 111 Great Neck Road, Suite 216, Great Neck, New York
11021 (the “Assignor”); REDSTART HOLDINGS CORP., having a principal place
of business at 1188 Willis Avenue, Albertson, New York 11507 (the “Investor”); and SIMLATUS CORPORATION,
with its address at 175 Joerschke Dr., Ste. A, Grass Valley, CA 95945 (the “Company”).(the Company, the Assignor
and the Investors are sometimes referred to in this Agreement singly as a “Party” or collectively as the “Parties”.).

 

RECITALS

 

WHEREAS,
the Company desires to fulfill debt obligations owed to the Assignor pursuant to two (2) promissory notes dated May 13, 2019 (principal
balance of $103,000.00; Accrued Interest of $14,115.23; default amount of $103,000.00; total due $220,115.23; the “May
Note”); and June 20, 2019 (principal balance of $53,000.00; Accrued Interest of $6,769.48; default amount of $53,000.00;
total due $112,769.48; the “June Note” and with the May Note, collectively, the “Notes”)(the
debt underlying the Notes shall be referred to as the “Debt”)

 

WHEREAS,
the Assignor desires to assign all of its rights, title and interests in, to and under the Notes with respect to the Debt to the
Investor; and

 

WHEREAS,
to effectuate this understanding, the Parties agree to enter this Agreement.

 

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

 

1.                Assignment
of Assigned Debt. Upon receipt of the Aggregate Purchase Price, the Assignor hereby assigns, sells and transfers all of its rights,
title and interests in, to and under the Debt represented within the Notes (the “Assigned Debt”) to the Investor
from the inception of the obligations, together with unpaid accrued interest on the Assigned Debt (the “Assignment”).

 

1.1       The Company hereby acknowledges and approves the Assignment.

 

1.2       As
consideration for the Assignment, contemporaneously with the consummation of this Agreement, the Investor will pay the Assignor
the amount of $150,000.00(“Purchase Price”) by delivery of a wire transfer to the Assignor (at the following
instructions) in the amount of the Purchase Price on or by 4pm EST, Friday, March 6, 2020 (the “Deadline”).
If the Purchase Price is not received by the Assignor prior to the Deadline, this Agreement shall terminated ab initio.

 

1.3       The
Company confirms that the Assignor had provided advances (cash) to the Company represented by the Notes and constituting the Debt.
Furthermore, the Company agrees, acknowledges, consents and stipulates, that: (i) full consideration has been rendered for said
Debt with respect to the May Note on May 21, 2019; and with respect to the June Note on June 24, 2019, and hereby waives any and
all objections thereto; and (ii) the principal, default and accrued interest balances of the Notes are as set forth in the recitals
herein.

 

2.                Renewal.
The Company hereby renews and affirms the Notes as a legally binding obligation of the Company, regardless of any termination
date or statute of limitation, and hereby extends the Debt until the satisfaction of the obligations pursuant to the Notes.

 

3.                Jurisdiction
and Venue. The Parties agree that this Agreement shall be construed solely in accordance with the laws of the State of New York,
notwithstanding its choice or conflict of law principles, and any proceedings arising among the Parties in any matter pertaining
or related to this Agreement shall, to the extent permitted by law, shall be brought only in the state courts of New York or in
the federal courts located in the state of New York and county of Nassau.

 

4.                Representation and Warranties.

 

4.1.       Company. The Company hereby represents and warrants the following: (a) as of the date hereof, the principal, default and accrued
interest balances of the Notes are as set forth in the recitals of this Agreement are true and correct; (b) the Assignor or any
affiliate of Assignor (collectively, jointly and severally, “Assignor’s Affiliate”) is not now, and has not
been during the preceding three months, an officer, director, or more than 4.99% shareholder of the Company or in any other way
an “affiliate” of the Company as that term is defined in Rule 144(a)(1) as promulgated under the Securities Act; (c)
the Company has the requisite power and authority to enter into this Agreement and to consummate the transactions contemplated
hereby and otherwise to carry out the Company’s obligations hereunder; (d) this Agreement constitutes the legal, valid and
binding obligation of the Company; (e) neither the execution of this Agreement by the Company nor the consummation of the transactions
contemplated hereby will result in a breach or violation of the terms of any agreement by which the Company is bound, or of any
decree, judgment, order, law or regulation now in effect of any court or other governmental body applicable to the Company; and
(f) the Company will not receive any portion of the Purchase Price from the Assignor.

     

     

    

4.2       Assignor.
The Assignor hereby represents and warrants the following: (a) as of the date hereof, the principal, default and accrued interest
balances of the Notes are as set forth in the recitals of this Agreement is true and correct; (b) except with respect to the Assignment
Agreements, the Assignor owns the Notes free and clear of all any and all liens, claims, encumbrances, preemptive rights, right
of first refusal and adverse interests of any kind; (c) the Assignor or any affiliate of Assignor (collectively, jointly and severally,
“Assignor’s Affiliate”) is not now, and has not been during the preceding three months, an officer, director,
or more than 4.99% shareholder of the Company or in any other way an “affiliate” of the Company as that term is defined
in Rule 144(a)(1) as promulgated under the Securities Act; (d) the Assignor has the requisite power and authority to enter into
this Agreement and to consummate the transactions contemplated hereby and otherwise to carry out the Assignor’s obligations
hereunder; and no consent, approval or agreement of any individual or entity is required to be obtained by the Assignor in connection
with the execution and performance by the Assignor of this Agreement or the execution and performance by the Assignor of any agreements,
instruments or other obligations entered into in connection with this Agreement; (e) this Agreement constitutes the legal, valid
and binding obligation of the Assignor; and (f) neither the execution of this Agreement by the Assignor nor the consummation of
the transactions contemplated hereby will result in a breach or violation of the terms of any agreement by which the Assignor
is bound, or of any decree, judgment, order, law or regulation now in effect of any court or other governmental body applicable
to the Assignor.

 

4.3       Investor.
The Investor hereby represents and warrants the following: (a) the Investor has the requisite power and authority to enter
into this Agreement and to consummate the transactions contemplated hereby and otherwise to carry out the Investor’s
obligations hereunder; and no consent, approval or agreement of any individual or entity is required to be obtained by the
Investor in connection with the performance by the Investor of any agreements, instruments or other obligations entered into
in connection with this Agreement; (b) this Agreement constitutes the legal, valid and binding obligation of the Investor;
(c) neither the execution of this Agreement by the Investor nor the consummation of the transactions contemplated hereby will
result in a breach or violation of the terms of any agreement by which the Investor is bound, or of any decree, judgment,
order, law or regulation now in effect of any court or other government body applicable to the Investor; (d) the Investor is
sophisticated in financial matters, qualifies as an “accredited investor” within the meaning of Regulation D of
the Securities Act of 1933, as amended (the “Securities Act”), and has had access to such information as
it has desired with respect to the Company, and has made such independent investigation of the Company as the Investor deems
necessary or advisable in connection with the assignment hereunder, and the Investor is able to bear the economic and
financial risk (including the risk that the Investor could lose the entire value of the Assigned Debt); (e) the Investor is
acquiring the Assigned Debt for its own benefit and account for investment only and not with a view to, or for resale in
connection with, a public offering or distribution thereof; and (f) the Investor
acknowledges that the Assigned Debt has not been registered under the Securities Act or the securities laws of any other
jurisdiction and therefore no sale, transfer or other disposition of the Assigned Debt is permitted unless such transfer is
registered under the Securities Act or other applicable securities laws, or an exemption from such registration is
available.

 

5.                Miscellaneous.

 

5.1       Counterparts.
This Agreement may be executed in any number of counterparts by original or facsimile signature. All executed counterparts shall
constitute one agreement not withstanding that all signatories are not signatories to the original or the same counterpart. Facsimile
and scanned signatures are considered original signatures.

 

5.2       Modification. This Agreement may only be modified in a writing signed by all Parties.

     

     

    

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and year first above written.

 

	Assignor:	 	Investor:	 
	 	 	 	 
	POWER
    UP LENDING GROUP LTD.	 	REDSTART
    HOLDINGS CORP.	 
	 	 	 	 	 	 
	By:		 	By:		 
	Name:
    Curt Kramer	 	Name:
    Gregg B. Solmon	 
	Chief
    Executive Officer	 	Title:
    President	 
	 	 	 	 	 
	Company:	 	 	 	 
	 	 	 	 	 	 
	SIMLATUS
    CORPORATION	 	 	 	 
	 	 	 	 	 
	By:		 	 	 	 
	Name:
    Richard N. Hylen	 	 	 	 
	Title:
    President and Chief Executive Officer

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