Document:

Exhibit 10.1

 

SHARE EXCHANGE AGREEMENT

This SHARE EXCHANGE
AGREEMENT (this “Agreement”), dated as of May 13, 2019, is by and among TimefireVR, Inc., a Nevada corporation
(the “Parent”), Red Cat Propware, Inc. a Nevada corporation (the “Company”), and the shareholders
of the Company (each a “Shareholder” and collectively the “Shareholders”). Each of the parties to
this Agreement is individually referred to herein as a “Party” and collectively as the “Parties.”

BACKGROUND

 

The Company has (i)
5,833,134 shares of common stock, par value $0.001 per share (the “Company Shares”) outstanding; and (ii) outstanding
rights to receive a total of $530,000 worth of Tokens, exercisable and when the Company prices and closes a securities token offering
(the “Token Rights” and together with the Company Shares, the “Company Securities”), all
of which are held by the Shareholders. The Shareholders have agreed to transfer the Company Shares in exchange for an aggregate
of eighty-three and three tenths 83.3% percent (the “Intended Percentage”) of the newly issued shares of common
stock (“Parent Common Stock”), par value $0.001 per share, of the Parent (the “Parent Stock”).

Parent is unable to
issue all of the Parent Stock and shall issue: (i) 236,000,000 shares of Parent Common Stock to Shareholder Jeffrey M. Thompson
in exchange for 63,466 Company Shares held by Mr. Thompson; and (ii) 2,169,068.0554 shares of Series A Preferred Stock having rights
and preferences substantially as set forth in Exhibit A annexed hereto (the “Interim Preferred”), pro
rata, to each Shareholder (including Mr. Thompson, in exchange for his remaining Company Shares). The Interim Preferred shall be
convertible into such number of shares of Parent Common Stock as shall equal the difference between the number of shares of Parent
Common Stock issued at Closing and the number of shares of Parent Common Stock that is required to be issued in order for the Shareholders,
in the aggregate, to receive the Intended Percentage of Parent Common Stock, on a fully-diluted basis. The Interim Preferred shall
vote as a class with the Parent Common Stock on all matters requiring a vote of Parent Common stock, on an as converted basis.
Any Shareholder who would, as a result of the transactions contemplated herein, receive five (5%) or greater of the issued and
outstanding Parent Common Stock (a “5% Owner”) shall have the right to elect to receive Interim Preferred in lieu of
Parent Stock at Closing for such excess amount.

Prior to execution
of this Agreement all outstanding Series A Preferred Stock (the “Old Series A”) of the Company shall be immediately
cancelled and redeemed for $10. The Board of Directors of the Company shall invalidate any and all actions heretofore authorized
or approved upon the vote of the Old Series A of the Company.

On or prior to the
Closing pursuant to Exchange Agreements in form and substance satisfactory to Company, all: (i) classes of preferred stock of Parent,
other than the Interim Preferred and Series B Convertible Preferred Stock (the “Series B”); (ii) all notes or other
indebtedness of the Parent; and (iii) all outstanding warrants, options, or other rights to receive or purchase common stock in
the Parent, except as listed on Exhibit A-1, shall be converted into the right to receive 4,212,645.28 shares of Series
B and subject to the conditions set forth in such Exchange Agreements. All such preferred stock tendered for exchange shall be
terminated prior to the Closing and Parent shall file a Withdrawal of Designation thereof with the Nevada Secretary of State.

Immediately following
the Closing, the Board of Directors and a majority of the Shareholders of the Parent shall take action on written consent: (A)
approving the reverse split of the capital stock of the Company in an amount for 1:1 to 1:1,000 as shall be determined by the Board
of Directors of Parent; (B) changing of name of the Parent to Red Cat Propware Holdings, Inc. or similar name as determined by
the Board of Directors of Parent; and (C) adopting the Amended and Restated Articles of Incorporation of the Parent. In the alternative,
the Board of Directors may, in its discretion, call a special meeting of the Shareholders to be held on notice to the Shareholders
and submit the foregoing actions for approval of the Shareholders (the “Shareholder Approvals”).

The exchange of Company
Shares for Parent Stock is intended to constitute a reorganization within the meaning of the Internal Revenue Code of 1986, as
amended (the “Code”), or such other tax free reorganization or restructuring provisions as may be available
under the Code.

The Board of Directors
of each of the Parent and the Company has determined that it is desirable to affect this plan of reorganization and share exchange.

AGREEMENT

 

NOW THEREFORE, for
good and valuable consideration the receipt and sufficiency is hereby acknowledged, the Parties hereto intending to be legally
bound hereby agree as follows:

ARTICLE I

Exchange of Shares

SECTION 1.01.
(a) Exchange by the Shareholders. At the Closing (as defined in Section 1.02), the Shareholders shall sell, transfer,
convey, assign and deliver to the Parent all of the Company Shares free and clear of all Liens in exchange for an aggregate of
two hundred thirty six million (236,000,000) shares of Parent Stock, and 2,169,068.0554 shares of Interim Preferred, as set forth
on Schedule 1.01, attached hereto. Attached as Schedule 1.01 is a list of each Shareholder, the number of shares
of Company Securities owned by each Shareholder and the number of shares of Parent Common Stock and Interim Preferred to be issued
to each Shareholder at the Closing.

SECTION 1.02.
Closing. The closing (the “Closing”) of the transactions contemplated by this Agreement (the “Transactions”)
shall take place at such location to be determined by the Company and Parent, commencing upon the satisfaction or waiver of all
conditions and obligations of the Parties to consummate the Transactions contemplated hereby (other than conditions and obligations
with respect to the actions that the respective Parties will take at Closing) or such other date and time as the Parties may mutually
determine (the “Closing Date”).

 

ARTICLE II

Representations and Warranties of the Shareholders

Each Shareholder
individually, hereby represents and warrants to the Parent, as follows:

SECTION 2.01.
Good Title. The Shareholder is the record and beneficial owner, and has good and marketable title to its Company
Shares, with the right and authority to sell and deliver such Company Shares to Parent as provided herein. Upon registering of
the Parent as the new owner of such Company Shares in the share register of the Company, the Parent will receive good title to
such Company Shares, free and clear of all liens, security interests, pledges, equities and claims of any kind, voting trusts,
shareholder agreements and other encumbrances (collectively, “Liens”).

SECTION 2.02.
Power and Authority. All acts required to be taken by the Shareholder to enter into this Agreement and to carry out
the Transactions have been properly taken. This Agreement constitutes a legal, valid and binding obligation of the Shareholder,
enforceable against such Shareholder in accordance with the terms hereof.

SECTION 2.03.
No Conflicts. The execution and delivery of this Agreement by the Shareholder and the performance by the Shareholder
of his obligations hereunder in accordance with the terms hereof: (i) will not require the consent of any third party or any federal,
state, local or foreign government or any court of competent jurisdiction, administrative agency or commission or other governmental
authority or instrumentality, domestic or foreign (“Governmental Entity”) under any statutes, laws, ordinances,
rules, regulations, orders, writs, injunctions, judgments, or decrees (collectively, “Laws”); (ii) will not
violate any Laws applicable to such Shareholder; and (iii) will not violate or breach any contractual obligation to which such
Shareholder is a party.

SECTION 2.04.
No Finder’s Fee. The Shareholder has not created any obligation for any finder’s, investment banker’s
or broker’s fee in connection with the Transactions that the Company or the Parent will be responsible for.

SECTION 2.05.
Purchase Entirely for Own Account. The Parent Stock proposed to be acquired by the Shareholder hereunder will be
acquired for investment for his own account, and not with a view to the resale or distribution of any part thereof, and the Shareholder
has no present intention of selling or otherwise distributing the Parent Stock, except in compliance with applicable securities
laws.

SECTION 2.06.
Available Information. The Shareholder has such knowledge and experience in financial and business matters that it
is capable of evaluating the merits and risks of an investment in the Parent. The Shareholder understands that his investment in
the Parent Stock involves a high degree of risk. The Shareholder has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to its acquisition of the Parent Common Stock and Series A Preferred
Stock. The Shareholder has had the opportunity to review the reports Parent has filed with the SEC at www.SEC.gov/EDGAR.

SECTION 2.07.
Non-Registration. The Shareholder understands that the Parent Stock has not been registered under the Securities
Act of 1933, as amended (the “Securities Act”) and, if issued in accordance with the provisions of this Agreement,
will be issued by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among
other things, the bona fide nature of the investment intent and the accuracy of the Shareholder’s representations as expressed
herein.

SECTION 2.08.
Restricted Securities. The Shareholder understands that the shares of Parent Stock are characterized as “restricted
securities” under the Securities Act inasmuch as this Agreement contemplates that, if acquired by the Shareholder pursuant
hereto, the Parent Stock would be acquired in a transaction not involving a public offering. The Shareholder further acknowledges
that if the Parent Stock is issued to the Shareholder in accordance with the provisions of this Agreement, such Parent Stock may
not be resold without registration under the Securities Act or the existence of an exemption therefrom. The Shareholder represents
that it is familiar with Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations
imposed thereby and by the Securities Act.

SECTION 2.09.
Legends. It is understood that the Parent Stock will bear the following legend or another legend that is similar
to the following:

THE SHARES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SHARES REPRESENTED
BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE
OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS, OR AN OPINION OF COUNSEL, IN A FORM ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE
STATE SECURITIES LAWS OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.

and any legend required by the “blue
sky” laws of any state to the extent such laws are applicable to the securities represented by the certificate so legended.

SECTION 2.10.
Accredited Investor. The Shareholder is an “accredited investor” within the meaning of Rule 501 under
the Securities Act and the Shareholder was not organized for the specific purpose of acquiring the Parent Stock.

SECTION 2.11.
Shareholder Acknowledgment. Each of the Shareholders acknowledges that he or she has read the representations and
warranties of the Company set forth in Article III herein and such representations and warranties are, to the best of his or her
knowledge, true and correct as of the date hereof.

ARTICLE III

Representations and Warranties of the Company

The Company represents
and warrants to the Parent, which representations and warranties and true and correct as of the date hereof and will be true and
correct as of the Closing Date, except as set forth in the disclosure schedules provided in connection herewith (the “Company
Disclosure Schedules”), as follows:

SECTION 3.01.
Organization, Standing and Power. The Company is duly incorporated or organized, validly existing and in good standing
under the laws of the State of Nevada and has the corporate power and authority and possesses all governmental franchises, licenses,
permits, authorizations and approvals necessary to enable it to own, lease or otherwise hold its properties and assets and to conduct
its businesses as presently conducted, other than such franchises, licenses, permits, authorizations and approvals the lack of
which, individually or in the aggregate, has not had and would not reasonably be expected to have a material adverse effect on
the Company, a material adverse effect on the ability of the Company to perform its obligations under this Agreement or on the
ability of the Company to consummate the Transactions (a “Company Material Adverse Effect”). The Company is
duly qualified to do business in each jurisdiction where the nature of its business or its ownership or leasing of its properties
make such qualification necessary, except where the failure to so qualify would not reasonably be expected to have a Company Material
Adverse Effect. The Company has delivered to the Parent true and complete copies of the certificate of incorporation of the Company,
as amended to the date of this Agreement (as so amended, the “Company Charter Documents”). The Company has no
direct or indirect subsidiaries.

SECTION 3.02.
Capital Structure. The authorized share capital of the Company consists of: (i) one hundred million (100,000,000)
shares of common stock, of which 5,833,134 shares or issued and outstanding; (ii) ten million (10,000,000) shares of preferred
stock, none of which are designated or issued; and (iii) $530,000 in Token Rights, with no tokens having been issued or sold. No
shares or other voting securities of the Company are issued, reserved for issuance or outstanding. All outstanding Company Securities
are duly authorized, validly issued, fully paid and non-assessable and not subject to or issued in violation of any purchase option,
call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of the applicable
corporate laws of its state of incorporation, the Company Charter Documents or any Contract (as defined in Section 3.04) to which
the Company is a party or otherwise bound. There are no bonds, debentures, notes or other indebtedness of the Company outstanding
whether or not such instruments have the right to vote (or convertible into, or exchangeable for, securities having the right to
vote) on any matters on which holders of Company Securities may vote (“Voting Company Debt”). As of the date
of this Agreement, there are no options, warrants, rights, convertible or exchangeable securities, “phantom” stock
rights, stock appreciation rights, stock-based performance units, commitments, Contracts, arrangements or undertakings of any kind
to which the Company is a party or by which the Company is bound (i) obligating the Company to issue, deliver or sell, or cause
to be issued, delivered or sold, additional shares or other equity interests in, or any security convertible or exercisable for
or exchangeable into any shares or capital stock or other equity interest in, the Company or any Voting Company Debt, (ii) obligating
the Company to issue, grant, extend or enter into any such option, warrant, call, right, security, commitment, Contract, arrangement
or undertaking or (iii) that give any person the right to receive any economic benefit or right similar to or derived from the
economic benefits and rights occurring to holders of the shares or capital stock of the Company. All of the outstanding shares
of Company Securities were issued in compliance with applicable Laws. None of the shares of Company Securities were issued in violation
of any agreement, arrangement or commitment to which the Company is a party or is subject to or in violation of any preemptive
or similar rights of any person or entity.

SECTION 3.03.
Authority; Execution and Delivery; Enforceability. The Company has all requisite corporate power and authority to
execute and deliver this Agreement and to consummate the Transactions. The execution and delivery by the Company of this Agreement
and the consummation by the Company of the Transactions have been duly authorized and approved by the Board of Directors of the
Company and no other corporate proceedings on the part of the Company are necessary to authorize this Agreement and the Transactions.
When executed and delivered, this Agreement will be enforceable against the Company in accordance with its terms, subject to bankruptcy,
insolvency and similar laws of general applicability as to which the Company is subject.

SECTION 3.04.
No Conflicts; Consents.

(a)
The execution and delivery by the Company of this Agreement does not, and the consummation of the Transactions and compliance
with the terms hereof and thereof will not, conflict with, or result in any violation of or default (with or without notice or
lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss
of a material benefit under, or result in the creation of any Lien upon any of the properties or assets of the Company under any
provision of (i) the Company Charter Documents, (ii) any material contract, lease, license, indenture, note, bond, agreement, permit,
concession, franchise or other instrument (a “Contract”) to which the Company is a party or by which any of
their respective properties or assets is bound or (iii) subject to the filings and other matters referred to in Section 3.04(b),
any material judgment, order or decree (“Judgment”) or material Law applicable to the Company or its properties
or assets, other than, in the case of clauses (ii) and (iii) above, any such items that, individually or in the aggregate, have
not had and would not reasonably be expected to have a Company Material Adverse Effect.

(b)
No material consent, approval, license, permit, order or authorization (“Consent”) of, or registration,
declaration or filing with, or permit from, any Governmental Entity is required to be obtained or made by or with respect to the
Company in connection with the execution, delivery and performance of this Agreement or the consummation of the Transactions.

SECTION 3.05.
Taxes.

(a)
The Company has timely filed, or has caused to be timely filed on its behalf, all Tax Returns required to be filed by it,
and all such Tax Returns are true, complete and accurate, except to the extent any failure to file or any inaccuracies in any filed
Tax Returns, individually or in the aggregate, have not had and would not reasonably be expected to have a Company Material Adverse
Effect. All Taxes shown to be due on such Tax Returns, or otherwise owed, have been timely paid, except to the extent that any
failure to pay, individually or in the aggregate, has not had and would not reasonably be expected to have a Company Material Adverse
Effect. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the
officers of the Company know of no basis for any such claim.

(b)
If applicable, the Company has established an adequate reserve reflected on its financial statements for all Taxes payable
by the Company (in addition to any reserve for deferred Taxes to reflect timing differences between book and Tax items) for all
Taxable periods and portions thereof through the date of such financial statements. No deficiency with respect to any Taxes has
been proposed, asserted or assessed against the Company, and no requests for waivers of the time to assess any such Taxes are pending,
except to the extent any such deficiency or request for waiver, individually or in the aggregate, has not had and would not reasonably
be expected to have a Company Material Adverse Effect.

(c)
For purposes of this Agreement:

“Taxes”
includes all forms of taxation, whenever created or imposed, and whether of the United States or elsewhere, and whether imposed
by a local, municipal, governmental, state, foreign, federal or other Governmental Entity, or in connection with any agreement
with respect to Taxes, including all interest, penalties and additions imposed with respect to such amounts.

“Tax Return”
means all federal, state, local, provincial and foreign Tax returns, declarations, statements, reports, schedules, forms and information
returns and any amended Tax return relating to Taxes.

SECTION 3.06.
Benefit Plans. The Company does not have or maintain any collective bargaining agreement or any bonus, pension, profit
sharing, deferred compensation, incentive compensation, share ownership, share purchase, share option, phantom stock, retirement,
vacation, severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding (whether or
not legally binding) providing benefits to any current or former employee, officer or director of the Company (collectively, “Company
Benefit Plans”). As of the date of this Agreement there are no severance or termination agreements or arrangements between
the Company and any current or former employee, officer or director of the Company, nor does the Company have any general severance
plan or policy.

SECTION 3.07.
Litigation. There is no action, suit, inquiry, notice of violation, proceeding (including any partial proceeding
such as a deposition), inquiry, or investigation pending or threatened in writing against or affecting the Company, or any of its
properties before or by any court, arbitrator, governmental or administrative agency, regulatory authority (federal, state, county,
local or foreign), stock market, stock exchange or trading facility (“Action”) which (i) adversely affects or
challenges the legality, validity or enforceability of any of this Agreement or the Parent Stock or (ii) could, if there were an
unfavorable decision, individually or in the aggregate, have or reasonably be expected to result in a Company Material Adverse
Effect. Neither the Company nor any director or officer thereof (in his or her capacity as such), is or has been the subject of
any Action involving a claim or violation of or liability under federal or state securities laws or a claim of breach of fiduciary
duty.

SECTION 3.08.
Compliance with Applicable Laws. The Company is in compliance with all applicable Laws, including those relating
to occupational health and safety and the environment, except for instances of noncompliance that, individually and in the aggregate,
have not had and would not reasonably be expected to have a Company Material Adverse Effect. This Section 3.08 does not relate
to matters with respect to Taxes, which are the subject of Section 3.05.

SECTION 3.09.
Brokers; Schedule of Fees and Expenses. No broker, investment banker, financial advisor or other person is entitled
to any broker’s, finder’s, financial advisor’s or other similar fee or commission in connection with the Transactions
based upon arrangements made by or on behalf of the Company.

SECTION 3.10.
Contracts. Except as disclosed in the Company Disclosure Schedule, there are no Contracts that are material to the
business, properties, assets, condition (financial or otherwise), results of operations or prospects of the Company and its subsidiaries
taken as a whole. The Company is not in violation of or in default under (nor does there exist any condition which upon the passage
of time or the giving of notice would cause such a violation of or default under) any Contract to which it is a party or by which
it or any of its properties or assets is bound, except for violations or defaults that would not, individually or in the aggregate,
reasonably be expected to result in a Company Material Adverse Effect.

SECTION 3.11.
Title to Properties. The Company does not own any real property. The Company has sufficient title to, or valid leasehold
interests in, all of its properties and assets used in the conduct of its businesses all of which are set forth on the Company
Disclosure Schedule. All such assets and properties, other than assets and properties in which the Company has leasehold interests,
are free and clear of all Liens other than those Liens that, in the aggregate, do not and will not materially interfere with the
ability of the Company to conduct business as currently conducted.

SECTION 3.12.
Labor Relations. No labor dispute including any claims alleging discrimination or sexual harassment exists or, to
the knowledge of the Company, is threatened with respect to any of the employees of the Company, which could reasonably be expected
to result in a Company Material Adverse Effect. None of the Company’s or its subsidiaries’ employees is a member of
a union that relates to such employee’s relationship with the Company or such subsidiary, and neither the Company nor any
of its subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that their relationships
with their employees are good. To the knowledge of the Company, no executive officer of the Company or any subsidiary, is, or is
now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information
agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third party,
and the continued employment of each such executive officer does not subject the Company or any of its subsidiaries to any liability
with respect to any of the foregoing matters. The Company and its subsidiaries are in compliance with all Laws relating to employment
and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in compliance
could not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect.

SECTION 3.13.
Insurance. The Company does not hold any insurance policy.

SECTION 3.14.
Transactions With Affiliates and Employees. Except as set forth on the Company Disclosure Schedule, none of the officers
or directors of the Company and, to the knowledge of the Company, none of the employees of the Company is presently a party to
any transaction with the Company (other than for services as employees, officers and directors), including any contract, agreement
or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or
from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any
entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.

SECTION 3.15.
Application of Takeover Protections. The Company has taken all necessary action, if any, in order to render inapplicable
any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other
similar anti-takeover provision under the Company Charter Documents or the laws of its country and state of incorporation that
is or could become applicable to the Shareholders as a result of the Shareholders and the Company fulfilling their obligations
or exercising their rights under this Agreement, including, without limitation, the issuance of the Parent Stock and the Shareholders’
ownership of the Parent Stock.

SECTION 3.16.
No Additional Agreements. The Company does not have any agreement or understanding with any Shareholder with respect
to the Transactions other than as specified in this Agreement.

SECTION 3.17.
Investment Company. The Company is not, and is not an affiliate of, and immediately following the Closing will not
have become, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

SECTION 3.18.
Disclosure. All disclosure provided to the Parent regarding the Company, its business and the Transactions, furnished
by or on behalf of the Company (including the Company’s representations and warranties set forth in this Agreement) are true
and correct and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to
make the statements made therein, in light of the circumstances under which they were made, not misleading.

SECTION 3.19.
Absence of Certain Changes or Events. Except in connection with the Transactions and as disclosed in the Company
Disclosure Schedule, since inception, the Company has conducted its business only in the ordinary course, and during such period
there has not been:

(a)
any change in the assets, liabilities, prospects, financial condition or operating results of the Company, except changes
in the ordinary course of business that have not caused, in the aggregate, a Company Material Adverse Effect;

(b)
any damage, destruction or loss, whether or not covered by insurance, that would have a Company Material Adverse Effect;

(c)
any waiver or compromise by the Company of a valuable right or of a material debt owed to it;

(d)
any satisfaction or discharge of any lien, claim, or encumbrance or payment of any obligation by the Company, except in
the ordinary course of business and the satisfaction or discharge of which would not have a Company Material Adverse Effect;

(e)
any material change to a material Contract by which the Company or any of its assets is bound or subject;

(f)
any material change in any compensation arrangement or agreement with any employee, officer, director or stockholder;

(g)
any resignation or termination of employment of any officer of the Company;

(h)
any mortgage, pledge, transfer of a security interest in, or Lien, created by the Company, with respect to any of its material
properties or assets, except Liens for taxes not yet due or payable and Liens that arise in the ordinary course of business and
does not materially impair the Company’s ownership or use of such property or assets;

(i)
any loans or guarantees made by the Company to or for the benefit of its employees, officers or directors, or any members
of their immediate families, other than travel advances and other advances made in the ordinary course of its business;

(j)
any alteration of the Company’s method of accounting or the identity of its auditors;

(k)
any declaration or payment of dividend or distribution of cash or other property to the Shareholders or any purchase, redemption
or agreements to purchase or redeem any Company Shares;

(l)
any issuance of equity securities to any officer, director or affiliate; or

(m)
any arrangement or commitment by the Company to do any of the things described in this Section.

SECTION 3.20.
Foreign Corrupt Practices. Neither the Company, nor, to the Company’s knowledge, any director, officer, agent,
employee or other person acting on behalf of the Company has, in the course of its actions for, or on behalf of, the Company (i)
used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity;
(ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds;
(iii) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made
any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government
official or employee.

SECTION 3.21.
Compliance. Neither the Company nor any subsidiary: (i) is in default under or in violation of (and no event
has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any
subsidiary under), nor has the Company or any subsidiary received written notice of a claim that it is in default under or that
it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by
which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation
of any judgment, decree or order of any court, arbitrator or other governmental authority or (iii) to the knowledge of its
officers, directors, or employees, is, has been, or has received any notice that it may be, in violation of any Laws, including
without limitation all foreign, federal, state and local Laws relating to taxes, environmental protection, occupational health
and safety, product quality, aviation and aviation safety and safety and employment and labor matters, except in each case as could
not have or reasonably be expected to result in a Company Material Adverse Effect.

SECTION 3.22.
Regulatory Permits. The Company and its subsidiaries possess all certificates, authorizations and permits issued by the
appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as described
on the Company Disclosure Schedule, except where the failure to possess such permits could not reasonably be expected to result
in a Company Material Adverse Effect (“Material Permits”), and neither the Company nor any subsidiary has received
any written notice of proceedings relating to the revocation or modification of any Material Permit.

SECTION 3.23.
Intellectual Property. The Company has, or has rights to use, all patents, patent applications, trademarks, trademark
applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights
and similar rights necessary or required for use in connection with their respective businesses and which the failure to so have
could have a Company Material Adverse Effect (collectively, the “Intellectual Property Rights”). All Intellectual
Property Rights are set forth on the Company Disclosure Schedule. None of, and neither the Company nor any subsidiary has received
a written notice that any of, the Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire
or terminate or be abandoned, within two (2) years from the date of this Agreement. Neither the Company nor any subsidiary
has received a notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon
the rights of any person, except as could not have or reasonably be expected to not have a Company Material Adverse Effect. All
such Intellectual Property Rights are enforceable and there is no existing infringement by another person of any of the Intellectual
Property Rights. The Company and its subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality
and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably
be expected to have a Company Material Adverse Effect.

SECTION 3.24.
Office of Foreign Assets Control. Neither the Company nor any of its Subsidiaries nor, to the Company’s knowledge,
any director, officer, agent, employee or affiliate of the Company is currently subject to any U.S. sanctions administered by the
Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

SECTION 3.25.
Money Laundering. The operations of the Company and its subsidiaries are and have been conducted at all times in
compliance with applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting
Act of 1970, as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the
“Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority
or body or any arbitrator involving the Company or any subsidiary with respect to the Money Laundering Laws is pending or, to the
knowledge of the Company or any subsidiary, threatened.

SECTION 3.26.
Guaranties. The Company is not a guarantor or otherwise is liable for any liability or obligation (including indebtedness)
of any other Person.

SECTION 3.27.
Financial Statements. The financial statements of the Company (the “Financial Statements”) that have
been delivered to the Parent: (i) are in accordance with the books and records of the Company and have been maintained in
accordance with good business practice; and (ii) fairly present, in all material respects, the consolidated financial position
of the Company as of the dates presented therein and the results of operations, changes in financial positions or cash flows, as
the case may be, for the periods presented therein. The Company does not have any contingent obligations, liability for taxes or
other outstanding obligations, including, without limitation, any off balance sheet arrangements, that would have a Company Material
Adverse Effect aggregate, except as disclosed in the most recent Financial Statements furnished by the Company to the Parent prior
to the date hereof.

ARTICLE IV

Representations and Warranties of the Parent

The Parent represents
and warrants as follows to the Shareholders and the Company, which representations and warranties are true and correct as of the
date hereof and will be true and correct on the Closing Date, that, except as set forth in the reports, schedules, forms, statements
and other documents filed by the Parent with the Securities and Exchange Commission (the “SEC”) and publicly
available prior to the date of the Agreement (the “Parent SEC Documents”) or specifically referenced on a disclosure
schedule which Disclosure Schedules shall be deemed a part hereof and shall qualify any representation made herein only to the
extent of the disclosure contained in the corresponding section of the Disclosure Schedules or to the extent that such qualification
is reasonably apparent:

SECTION 4.01.
Organization, Standing and Power. The Parent is duly organized, validly existing and in good standing under the laws
of the State of Nevada and has full corporate power and authority and possesses all governmental franchises, licenses, permits,
authorizations and approvals necessary to enable it to own, lease or otherwise hold its properties and assets and to conduct its
businesses as presently conducted, other than such franchises, licenses, permits, authorizations and approvals the lack of which,
individually or in the aggregate, has not had and would not reasonably be expected to have a material adverse effect on the Parent,
a material adverse effect on the ability of the Parent to perform its obligations under this Agreement or on the ability of the
Parent to consummate the Transactions (a “Parent Material Adverse Effect”). The Parent is duly qualified to
do business in each jurisdiction where the nature of its business or their ownership or leasing of its properties make such qualification
necessary and where the failure to so qualify would reasonably be expected to have a Parent Material Adverse Effect. The Parent
has delivered to the Company true and complete copies of the articles of incorporation of the Parent, as amended to the date of
this Agreement (as so amended, the “Parent Charter”), and the Bylaws of the Parent, as amended to the date of
this Agreement (as so amended, the “Parent Bylaws”).

SECTION 4.02.
Subsidiaries; Equity Interests. Except as set forth in the Parent SEC Documents, the Parent does not own, directly
or indirectly, any capital stock, membership interest, partnership interest, joint venture interest or other equity interest in
any person.

SECTION 4.03.
Capital Structure. The authorized capital stock of the Parent consists of five hundred million (500,000,000) shares
of Parent Common Stock, par value $0.001 per share, and ten million (10,000,000) shares of preferred stock, par value $0.01 per
share, of which (i) 235,460,470 shares of Parent Common Stock are issued and outstanding; (ii) 2,200,000 shares of Interim Preferred
are authorized, of which 0 shares are issued and outstanding; (iii) 4,300,000 shares of Series B Preferred Stock are authorized
of which 4,212,645.28 shares are issued and outstanding; and (iv) no shares of Parent Common Stock or preferred stock are held
by the Parent in its treasury. Immediately prior to the Closing, (A) counsel to the Parent shall release the signature pages it
is holding in escrow under the Exchange Agreement which shall cause all holders of outstanding derivative securities of the Company
to receive the Series B Preferred Stock, and (B) the Parent shall file with the Nevada Secretary of State a Certificate of Withdrawal
for all outstanding preferred stock other than the Interim Preferred and the Series B. Any directors of the Parent who may continue
their service after the Closing shall be eligible for such grants of awards under a Parent incentive plan (or any successor or
replacement plan adopted by the Board of Directors and approved by the stockholders of the Parent) as the Compensation Committee
or Board of Directors of the Parent may from time to time determine following the Closing. Except as set forth in the SEC Documents,
no other shares of capital stock or other voting securities of the Parent are reserved for issuance or outstanding. All outstanding
shares of the capital stock of the Parent are, and all such shares that may be issued prior to the date hereof will be when issued,
duly authorized, validly issued, fully paid and non-assessable and not subject to or issued in violation of any purchase option,
call option, right of first refusal, preemptive right, subscription right or any similar right under any provision of the Nevada
Revised Statutes, the Parent Charter, the Parent Bylaws or any Contract to which the Parent is a party or otherwise bound. Except
as set forth in the SEC Documents, there are no bonds, debentures, notes or other indebtedness of the Parent regardless of whether
they have the right to vote (or convertible into, or exchangeable for, securities having the right to vote), on any matters
on which holders of Parent Stock may vote (“Voting Parent Debt”). Except as disclosed on Schedule 4.03, as
of the date of this Agreement, there are no options, warrants, rights, convertible or exchangeable securities, “phantom”
stock rights, stock appreciation rights, stock-based performance units, commitments, Contracts, arrangements or undertakings of
any kind to which the Parent is a party or by which it is bound (i) obligating the Parent to issue, deliver or sell, or cause to
be issued, delivered or sold, additional shares of capital stock or other equity interests in, or any security convertible or exercisable
for or exchangeable into any capital stock of or other equity interest in, the Parent or any Voting Parent Debt, (ii) obligating
the Parent to issue, grant, extend or enter into any such option, warrant, call, right, security, commitment, Contract, arrangement
or undertaking or (iii) that give any person the right to receive any economic benefit or right similar to or derived from the
economic benefits and rights occurring to holders of the capital stock of the Parent. As of the date of this Agreement, there are
no outstanding contractual obligations of the Parent to repurchase, redeem or otherwise acquire any shares of capital stock of
the Parent. Other than as set forth in the SEC Documents, the Parent is not a party to any agreement granting any security holder
of the Parent the right to cause the Parent to register shares of the capital stock or other securities of the Parent held by such
security holder under the Securities Act, except as disclosed on Schedule 4.03. A Waiver of Registration Rights is required
as a condition of closing. The stockholder list provided to the Company is a current stockholder list generated by its stock transfer
agent, and such list accurately reflects all of the issued and outstanding shares of the Parent Stock as at the Closing.

SECTION 4.04.
Authority; Execution and Delivery; Enforceability. The execution and delivery by the Parent of this Agreement and
the consummation by the Parent of the Transactions have been duly authorized and approved by the Board of Directors of the Parent
and no other corporate proceedings on the part of the Parent are necessary to authorize this Agreement and the Transactions. This
Agreement constitutes a legal, valid and binding obligation of the Parent, enforceable against the Parent in accordance with the
terms hereof.

SECTION 4.05.
No Conflicts; Consents.

(a)
The execution and delivery by the Parent of this Agreement, does not, and the consummation of Transactions and compliance
with the terms hereof and thereof will not, conflict with, or result in any violation of or default (with or without notice or
lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to loss
of a material benefit under, or to increased, additional, accelerated or guaranteed rights or entitlements of any person under,
or result in the creation of any Lien upon any of the properties or assets of the Parent under, any provision of (i) the Parent
Charter or Parent Bylaws, (ii) any material Contract to which the Parent is a party or by which any of its properties or assets
is bound or (iii) subject to the filings and other matters referred to in Section 4.05(b), any material Judgment or material Law
applicable to the Parent or its properties or assets, other than, in the case of clauses (ii) and (iii) above, any such items that,
individually or in the aggregate, have not had and would not reasonably be expected to have a Parent Material Adverse Effect.

(b)
No Consent of, or registration, declaration or filing with, or permit from, any Governmental Entity is required to be obtained
or made by or with respect to the Parent in connection with the execution, delivery and performance of this Agreement or the consummation
of the Transactions, other than the (A) filing with the SEC of a Current Report on Form 8-K disclosing the Transactions contemplated
hereby, including all required exhibits thereto; (B) filings under state “blue sky” laws, as each may be required in
connection with this Agreement and the Transactions; (C) the submission of the planned reverse split and the name change of the
Parent to FINRA; (D) the filing with the SEC of Schedule 14f-1 regarding the change in the Parent’s Board of Directors contemplated
by this Agreement; and (E) filings with the Nevada Secretary of State.

SECTION 4.06.
SEC Documents; Undisclosed and Liabilities.

(a)
The Parent has filed all Parent SEC Documents for the prior two years, pursuant to Sections 13 and 15 of the Exchange Act,
as applicable, except as disclosed on Schedule 4.06.

(b)
As of its respective filing date, each Parent SEC Document complied in all material respects with the requirements of the
Exchange Act and the rules and regulations of the SEC promulgated thereunder applicable to such Parent SEC Document, and did not
contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in
order to make the statements therein, in light of the circumstances under which they were made, not misleading. Except to the extent
that information contained in any Parent SEC Document has been revised or superseded by a later filed Parent SEC Document, none
of the Parent SEC Documents contains any untrue statement of a material fact or omits to state any material fact required to be
stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made,
not misleading. The financial statements of the Parent included in the Parent SEC Documents comply as to form in all material respects
with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto, have been prepared
in accordance with the U.S. generally accepted accounting principles (“GAAP”) (except, in the case of unaudited statements,
as permitted by the rules and regulations of the SEC) applied on a consistent basis during the periods involved (except as may
be indicated in the notes thereto) and fairly present the financial position of Parent as of the dates thereof and the results
of its operations and cash flows for the periods shown (subject, in the case of unaudited statements, to normal year-end audit
adjustments).

(c)
Except as set forth in the Parent SEC Documents, the Parent has no liabilities or obligations of any nature (whether accrued,
absolute, contingent or otherwise) required by GAAP to be set forth on a balance sheet of the Parent or in the notes thereto. The
Parent SEC Documents sets forth all financial and contractual obligations and liabilities (including any obligations to issue capital
stock or other securities of the Parent) due after the date hereof. No representation is made as to any liability to any Governmental
Entity for penalties arising under the Internal Revenue Code or state Laws.

SECTION 4.07.
Information Supplied. None of the information supplied or to be supplied by the Parent for inclusion or incorporation
by reference in any Parent SEC Document or report contains any untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which
they are made, not misleading.

SECTION 4.08.
Absence of Certain Changes or Events. Except as disclosed in the filed Parent SEC Documents or on Schedule 4.08,
from the date of the most recent audited financial statements included in the filed Parent SEC Documents to the date of this Agreement,
the Parent has conducted its business only in the ordinary course, and during such period there has not been:

(a)
any change in the assets, liabilities, prospects, financial condition or operating results of the Parent from that reflected
in the Parent SEC Documents, except changes in the ordinary course of business that have not caused, in the aggregate, a Parent
Material Adverse Effect;

(b)
any damage, destruction or loss, whether or not covered by insurance, that would have a Parent Material Adverse Effect;

(c)
any waiver or compromise by the Parent of a valuable right or of a material debt owed to it;

(d)
any satisfaction or discharge of any Lien, claim, or encumbrance or payment of any obligation by the Parent, except in the
ordinary course of business and the satisfaction or discharge of which would not have a Parent Material Adverse Effect;

(e)
any material change to a material Contract by which the Parent or any of its assets is bound or subject, except for the
waiver of compensation due Jonathan Read;

(f)
any mortgage, pledge, transfer of a security interest in, or Lien, created by the Parent, with respect to any of its material
properties or assets, except Liens for taxes not yet due or payable and Liens that arise in the ordinary course of business and
do not materially impair the Parent’s ownership or use of such property or assets;

(g)
any loans or guarantees made by the Parent to or for the benefit of its employees, officers or directors, or any members
of their immediate families, other than travel advances and other advances made in the ordinary course of its business;

(h)
any declaration, setting aside or payment or other distribution in respect of any of the Parent’s capital stock, or
any direct or indirect redemption, purchase, or other acquisition of any of such stock by the Parent;

(i)
any alteration of the Parent’s method of accounting or the identity of its auditors;

(j)
any issuance of equity securities to any officer, director or affiliate, except pursuant to existing Parent stock option
plans, to Gary Smith under an Exchange Agreement or 50 million Restricted Units issued to Jonathan Read; or

(k)
any arrangement or commitment by the Parent to do any of the things described in this Section 4.08.

SECTION 4.09.
Taxes.

(a)
Except as disclosed on Schedule 4.09(a), the Parent has timely filed, or has caused to be timely filed on its behalf,
all Tax Returns required to be filed by it, and all such Tax Returns are true, complete and accurate, except to the extent any
failure to file, any delinquency in filing or any inaccuracies in any filed Tax Returns, individually or in the aggregate, have
not had and would not reasonably be expected to have a Parent Material Adverse Effect. All Taxes shown to be due on such Tax Returns,
or otherwise owed, has been timely paid, except to the extent that any failure to pay, individually or in the aggregate, has not
had and would not reasonably be expected to have a Parent Material Adverse Effect. The Parent shall, prior to the Closing, file,
or cause to be filed on its behalf, all Tax Returns required to be filed by it under applicable Laws.

(b)
The most recent financial statements contained in the Parent SEC Documents did not reflect an adequate reserve for all Taxes
payable by the Parent (in addition to any reserve for deferred Taxes to reflect timing differences between book and Tax items)
for all Taxable periods and portions thereof through the date of such financial statements. No deficiency with respect to any Taxes
has been proposed, asserted or assessed against the Parent, and no requests for waivers of the time to assess any such Taxes are
pending, except to the extent any such deficiency or request for waiver, individually or in the aggregate, has not had and would
not reasonably be expected to have a Parent Material Adverse Effect.

(c)
There are no Liens for Taxes (other than for current Taxes not yet due and payable) on the assets of the Parent. The Parent
is not bound by any agreement with respect to Taxes.

SECTION 4.10.
Absence of Changes in Benefit Plans. From the date of the most recent audited financial statements included in the
Parent SEC Documents to the date of this Agreement, there has not been any adoption or amendment in any material respect by Parent
of any collective bargaining agreement or any bonus, pension, profit sharing, deferred compensation, incentive compensation, stock
ownership, stock purchase, stock option, phantom stock, retirement, vacation, severance, disability, death benefit, hospitalization,
medical or other plan, arrangement or understanding (whether or not legally binding) providing benefits to any current or former
employee, officer or director of Parent (collectively, “Parent Benefit Plans”). Except as set forth in the Parent
SEC Documents, as of the date of this Agreement there are not any employment, consulting, indemnification, severance or termination
agreements or arrangements between the Parent and any current or former employee, officer or director of the Parent, nor does the
Parent have any general severance plan or policy.

SECTION 4.11.
ERISA Compliance; Excess Parachute Payments. The Parent does not, and since its inception never has, maintained,
or contributed to any “employee pension benefit plans” (as defined in Section 3(2) of ERISA), “employee welfare
benefit plans” (as defined in Section 3(1) of ERISA) or any other Parent Benefit Plan for the benefit of any current or former
employees, consultants, officers or directors of Parent.

SECTION 4.12.
Litigation. Except as disclosed in the Parent SEC Documents, there is no Action which (i) adversely affects or challenges
the legality, validity or enforceability of any of this Agreement or the Parent Stock or (ii) could, if there were an unfavorable
decision, individually or in the aggregate, have or reasonably be expected to result in a Parent Material Adverse Effect. Neither
the Parent nor any director or officer thereof (in his or her capacity as such), is or has been the subject of any Action involving
a claim or violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty which relates
to the Parent.

SECTION 4.13.
Compliance with Applicable Laws. Except as disclosed in the Parent SEC Documents, the Parent is in compliance with
all applicable Laws, including those relating to occupational health and safety, the environment, export controls, trade sanctions
and embargoes, except for instances of noncompliance that, individually and in the aggregate, have not had and would not reasonably
be expected to have a Parent Material Adverse Effect. Except as set forth in the Parent SEC Documents, the Parent has not received
any written communication during the past two years from a Governmental Entity that alleges that the Parent is not in compliance
in any material respect with any applicable Law. The Parent is in compliance with all effective requirements of the Sarbanes-Oxley
Act of 2002, as amended, and the rules and regulations thereunder, that are applicable to it, except where such noncompliance could
not have or reasonably be expected to result in a Parent Material Adverse Effect or as disclosed on Schedule 4.13.

SECTION 4.14.
Contracts. Except as disclosed in the Parent SEC Documents, there are no Contracts that are material to the business,
properties, assets, condition (financial or otherwise), results of operations or prospects of the Parent taken as a whole. The
Parent is not in violation of or in default under (nor does there exist any condition which upon the passage of time or the giving
of notice would cause such a violation of or default under) any Contract to which it is a party or by which it or any of its properties
or assets is bound, except for violations or defaults that would not, individually or in the aggregate, reasonably be expected
to result in a Parent Material Adverse Effect. This Section 4.14 is qualified by Schedule 4.14.

SECTION 4.15.
Title to Properties. The Parent has good title to, or valid leasehold interests in, all of its properties and assets
used in the conduct of its businesses. All such assets and properties, other than assets and properties in which the Parent has
leasehold interests, are free and clear of all Liens and except for Liens that, in the aggregate, do not and will not materially
interfere with the ability of the Parent to conduct business as currently conducted. Except as provided on Schedule 4.15,the
Parent has complied in all material respects with the terms of all material leases to which it is a party and under which it is
in occupancy, and all such leases are in full force and effect. Except as provided on Schedule 4.15, the Parent enjoys peaceful
and undisturbed possession under all such material leases.

SECTION 4.16.
Intellectual Property. The Parent owns, or is validly licensed or otherwise has the right to use, all Intellectual
Property Rights which are material to the conduct of the business of the Parent taken as a whole. No claims are pending or, to
the knowledge of the Parent, threatened that the Parent is infringing or otherwise adversely affecting the rights of any person
with regard to any Intellectual Property Right. To the knowledge of the Parent, no person is infringing the rights of the Parent
with respect to any Intellectual Property Right.

SECTION 4.17.
Labor Matters. There are no collective bargaining or other labor union agreements to which the Parent is a party
or by which it is bound. No material labor dispute exists or, to the knowledge of the Parent, is imminent with respect to any of
the employees of the Parent.

SECTION 4.18.
Transactions With Affiliates and Employees. Except as set forth in the Parent SEC Documents or on Schedule 4.18,
none of the officers or directors of the Parent and, to the knowledge of the Parent, none of the employees of the Parent is presently
a party to any transaction with the Parent or any subsidiary (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or
personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge
of the Parent, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director,
trustee or partner.

SECTION 4.19.
Application of Takeover Protections. The Parent has taken all necessary action, if any, in order to render inapplicable
any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other
similar anti-takeover provision under the Parent’s charter documents or the laws of its state of incorporation that is or
could become applicable to the Shareholders as a result of the Shareholders and the Parent fulfilling their obligations or exercising
their rights under this Agreement, including, without limitation, the issuance of the Parent Stock and the Shareholders’
ownership of the Parent Stock.

SECTION 4.20.
No Additional Agreements. The Parent does not have any agreement or understanding with the Shareholders with respect
to the Transactions other than as specified in this Agreement.

SECTION 4.21.
Investment Company. The Parent is not, and is not an affiliate of, and immediately following the Closing will not
have become, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

SECTION 4.22.
Disclosure. The Parent confirms that neither it nor any person acting on its behalf has provided any Shareholder
or its respective agents or counsel with any information that the Parent believes constitutes material, non-public information
except insofar as the existence and terms of the proposed Transactions hereunder may constitute such information and except for
information that will be disclosed by the Parent under a Current Report on Form 8-K filed after the Closing. All disclosure provided
to the Shareholders regarding the Parent, its business and the transactions contemplated hereby, furnished by or on behalf of the
Parent (including the Parent’s representations and warranties set forth in this Agreement) are true and correct and do not
contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made
therein, in light of the circumstances under which they were made, not misleading.

SECTION 4.23.
Certain Registration Matters. Except as specified in the Parent SEC Documents or on Schedule 4.23, the Parent
has not granted or agreed to grant to any person any rights (including “piggy-back” registration rights) to have any
securities of the Parent registered with the SEC or any other governmental authority that have not been satisfied.

SECTION 4.24.
Listing and Maintenance Requirements. The Parent is, and has no reason to believe that it will not in the foreseeable
future continue to be, in compliance with the listing and maintenance requirements for continued listing of the Parent Stock on
the trading market on which the shares of Parent Common Stock are currently listed or quoted. The issuance and sale of the shares
of Parent Stock under this Agreement does not contravene the rules and regulations of the trading market on which the Parent Stock
are currently listed or quoted.

SECTION 4.25.
Parent Stock. Upon issue to the Shareholders, the Parent Stock will be duly and validly issued, fully paid and non-assessable
shares in the capital of the Company.

SECTION 4.26.
Office of Foreign Assets Control. Neither the Parent nor any of its Subsidiaries nor, to the Parent’s knowledge,
any director, officer, agent, employee or affiliate of the Parent is currently subject to any U.S. sanctions administered by OFAC.

SECTION 4.27.
Money Laundering. The operations of the Parent and its subsidiaries are and have been conducted at all times in compliance
with applicable financial record-keeping and reporting requirements of the Money Laundering Laws, and no action, suit or proceeding
by or before any court or governmental agency, authority or body or any arbitrator involving the Parent or any subsidiary with
respect to the Money Laundering Laws is pending or, to the knowledge of the Parent or any subsidiary, threatened.

ARTICLE V

Deliveries

SECTION 5.01.
Deliveries of the Shareholders.

(a)
Concurrently herewith the Shareholders are delivering to the Parent this Agreement executed by the Shareholders.

(b)
At or prior to the Closing, the Shareholders shall deliver to the Parent:

(i)
This Agreement, executed by the Shareholders.

(ii)
This Agreement shall constitute a duly executed share transfer power for transfer by the Shareholders of their Company Shares
to the Parent (which Agreement shall constitute a limited power of attorney in the Parent or any officer thereof to effectuate
any Share transfers as may be required under applicable law, including, without limitation, recording such transfer in the share
registry maintained by the Company for such purpose).

SECTION 5.02.
Deliveries of the Parent.

(a)
Concurrently herewith, the Parent is delivering to the Shareholders and to the Company, a copy of this Agreement executed
by the Parent.

(b)
Promptly following the Closing, the Parent shall deliver to the Shareholders, certificates representing the new shares of
Parent Stock and Interim Stock issued to the Shareholders set forth on Exhibit C or evidence that such securities were issued
in book entry form, except as required by the Escrow Agreement.

(c)
The Exchange Agreements; resignations of all officer/directors, other than Jonathan Read, who shall not resign as a director;
and general releases executed by all officers and directors of the Parent, including Mr. Read.

SECTION 5.03.
Deliveries of the Company.

(a)
Concurrently herewith, the Company is delivering to the Parent this Agreement executed by the Company.

(b)
At or prior to the Closing, the Company shall deliver to the Parent:

(i)
 a certificate from the Company, signed by its Secretary or Assistant Secretary certifying that the attached copies of the
Company’s Charter Documents and resolutions of the Board of Directors of the Company approving this Agreement and the Transactions,
are all true, complete and correct and remain in full force and effect; and

(ii)
A shareholder list of holders of the Company’s Securities, certified by the Company’s Chief Executive Officer.

ARTICLE VI

Conditions to Closing

SECTION 6.01.
Shareholders and Company Conditions Precedent. The obligations of the Shareholders and the Company to enter into
and complete the Closing is subject, at the option of the Shareholders and the Company, to the fulfillment on or prior to the Closing
Date of the following conditions.

(a)
Representations and Covenants. The representations and warranties of the Parent contained in this Agreement shall
be true in all material respects on and as of the Closing Date with the same force and effect as though made on and as of the Closing
Date. The Parent shall have performed and complied in all material respects with all covenants and agreements required by this
Agreement to be performed or complied with by the Parent on or prior to the Closing Date. The Parent shall have delivered to the
Shareholder and the Company, a certificate, dated the Closing Date, to the foregoing effect.

(b)
Litigation. No action, suit or proceeding shall have been instituted before any court or governmental or regulatory
body or instituted or threatened by any governmental or regulatory body to restrain, modify or prevent the carrying out of the
Transactions or to seek damages or a discovery order in connection with such Transactions, or which has or may have, in the reasonable
opinion of the Company or the Shareholders, a materially adverse effect on the assets, properties, business, operations or condition
(financial or otherwise) of the Parent.

(c)
No Material Adverse Change. There shall not have been any occurrence, event, incident, action, failure to act, or
transaction since December 31, 2018 which has had or is reasonably likely to cause a Parent Material Adverse Effect, except as
disclosed in the Parent SEC Reports or in this Agreement.

(d)
Post-Closing Capitalization. At, and immediately after, the Closing, the authorized capitalization, and the number
of issued and outstanding shares of capital stock of the Parent, on a fully-diluted basis, shall be as described in the Parent
SEC Documents, and as contemplated by this Agreement.

(e)
SEC Reports. The Parent shall have filed all reports and other documents required to be filed by Parent under the
U.S. federal securities laws through the Closing Date other than certain Form 8-Ks disclosed in this Agreement.

(f)
OTC Markets. The Parent shall have maintained its status as a Company whose common stock is available for quotation
on the Pink Market maintained by OTC Group, Inc., without reservation or limitation, and fully DTC FAST eligible, no chills shall
be in effect or threatened and Parent shall not have received any notice that any reason shall exist as to why such status shall
not continue immediately following the Closing.

(g)
Deliveries. The deliveries specified in Section 5.02 and in the preliminary paragraphs hereto shall have been made
by the Parent.

(h)
No Suspensions of Trading in Parent Stock; Listing. Trading in the Parent Common stock shall not have been suspended
by the SEC or any trading market (except for any suspensions of trading of not more than one trading day solely to permit dissemination
of material information regarding the Parent) at any time since the date of execution of this Agreement, and the Parent Common
Stock shall have been at all times since such date listed for trading on a trading market.

(i)
Satisfactory Completion of Due Diligence. The Company and the Shareholders shall have completed their legal, accounting
and business due diligence of the Parent and the results thereof shall be satisfactory to the Company and the Shareholders in their
sole and absolute discretion.

(j)
Approvals. The Parent shall have received the Exchange Agreements fully executed. The Interim Preferred and Series
B Certificates of Designation shall have been filed with the Nevada Secretary of State and counsel for the Parent shall certify
that it has released from escrow the signature pages to the Exchange Agreements.

SECTION 6.02.
Parent Conditions Precedent. The obligations of the Parent to enter into and complete the Closing are subject, at
the option of the Parent, to the fulfillment on or prior to the Closing Date of the following conditions, any one or more of which
may be waived by the Parent in writing.

(a)
Representations and Covenants. The representations and warranties of the Shareholders and the Company contained in
this Agreement shall be true in all material respects on and as of the Closing Date with the same force and effect as though made
on and as of the Closing Date. The Shareholders and the Company shall have performed and complied in all material respects with
all covenants and agreements required by this Agreement to be performed or complied with by the Shareholders and the Company on
or prior to the Closing Date. The Company shall have delivered to the Parent a certificate, dated the Closing Date, to the foregoing
effect.

(b)
Litigation. No action, suit or proceeding shall have been instituted before any court or governmental or regulatory
body or instituted or threatened by any governmental or regulatory body to restrain, modify or prevent the carrying out of the
Transactions or to seek damages or a discovery order in connection with such Transactions, or which has or may have, in the reasonable
opinion of the Parent, a materially adverse effect on the assets, properties, business, operations or condition (financial or otherwise)
of the Company.

(c)
No Material Adverse Change. There shall not have been any occurrence, event, incident, action, failure to act, or
transaction since the date hereof which has had or is reasonably likely to cause a Company Material Adverse Effect.

(d)
Deliveries. The deliveries specified in Section 5.01 and Section 5.03 shall have been made by the Shareholders and
the Company, respectively.

(e)
Post-Closing Capitalization. At, and immediately after, the Closing, the authorized capitalization, and the number
of issued and outstanding shares of the Company, on a fully-diluted basis, shall be described in the Company Disclosure Schedule.

(f)
Satisfactory Completion of Due Diligence. The Parent shall have completed its legal, accounting and business due
diligence of the Company and the results thereof shall be satisfactory to the Parent in its sole and absolute discretion.

(g)
Approvals. The Parent shall have received the Exchange Agreements fully executed. The Interim Preferred and the Series
B Certificates of Designation shall have been filed with the Nevada Secretary of State and counsel for the Parent shall certify
that it has released from escrow the signature pages to the Exchange Agreements.

ARTICLE VII

Covenants

SECTION 7.01.
Public Announcements. The Parent and the Company will consult with each other before issuing, and provide each other
the opportunity to review and comment upon, any press releases or other public statements with respect to the Agreement and the
Transactions and shall not issue any such press release or make any such public statement prior to such consultation, except as
may be required by applicable Law, court process or by obligations pursuant to any listing agreement with any national securities
exchanges.

SECTION 7.02.
Fees and Expenses. All fees and expenses incurred in connection with this Agreement shall be paid by the Party incurring
such fees or expenses, whether or not this Agreement is consummated.

SECTION 7.03.
Continued Efforts. Each Party shall use commercially reasonable efforts to (a) take all action reasonably necessary
to consummate the Transactions, and (b) take such steps and do such acts as may be necessary to keep all of its representations
and warranties true and correct as of the Closing Date with the same effect as if the same had been made, and this Agreement had
been dated, as of the Closing Date.

SECTION 7.04.
Exclusivity. Each of the Parent and the Company shall not (and shall not cause or permit any of their affiliates
to) engage in any discussions or negotiations with any person or take any action that would be inconsistent with the Transactions
and that has the effect of avoiding the Closing contemplated hereby. Each of the Parent and the Company shall notify each other
immediately if any person makes any proposal, offer, inquiry, or contact with respect to any of the foregoing.

SECTION 7.05.
Filing of 8-K and Press Release. The Parent shall file, no later than four (4) business days of the Closing Date,
a Current Report on Form 8-K with the SEC disclosing the terms of this Agreement and other requisite disclosure regarding the Transactions.

SECTION 7.06.
Access. Each Party shall permit representatives of any other Party to have full access to all premises, properties,
personnel, books, records (including Tax records), contracts, and documents of or pertaining to such Party.

SECTION 7.07.
Preservation of Business. From the date of this Agreement until the Closing Date, the Company shall operate only
in the ordinary and usual course of business consistent with their respective past practices, and shall use reasonable commercial
efforts to (a) preserve intact their respective business organizations, (b) preserve the good will and advantageous relationships
with customers, suppliers, independent contractors, employees and other persons material to the operation of their respective businesses,
and (c) not permit any action or omission that would cause any of their respective representations or warranties contained herein
to become inaccurate or any of their respective covenants to be breached in any material respect.

SECTION 7.08.
Company Financial Statements. The Company shall, not later than 45 days after execution of this Agreement, deliver
to the Parent its opening balance sheet audited by a PCAOB firm as well as pro forma financial statements of the post-Transaction
balance sheet of the Parent, on a consolidated basis, and such additional information as is required for the Parent’s Current
Reports on Form 8-K required in connection with the Closing.

SECTION 7.09.
Board of Directors. At Closing Date, the Parent shall have increased the size of the Board of Directors to five (5)
members, all directors and officers other than Jonathan Read shall have resigned who shall appoint Jeffrey Thompson plus up to
three (3) new board member nominated by the Company, who are reasonably acceptable to the Parent. Such appointment shall take effect
ten (10) days after the Parent’s mailing to its shareholders of an appropriate Schedule 14f-1 with the SEC.

SECTION 7.10.
Indemnification of Directors and Officers. The Charter and Bylaws of Parent following the Closing Date will contain
provisions with respect to exculpation and indemnification. These provisions will provide for indemnification of directors, officers,
employees or agents of Parent to the full extent permitted by Nevada law. Further, no amendment to the Parent’s Articles
of Incorporation may alter such indemnification provisions in a manner that makes them less extensive than the provisions now in
effect. Such indemnification provisions shall not be amended, repealed or otherwise modified for a period of six years after the
Closing Date in any manner that would adversely affect the rights thereunder of individuals who following the Closing Date are
directors, officers, employees or agents of Parent unless such modification is required by Law. The Shareholders acknowledge this
covenant and agree to abide by it in all respects as shareholders of Parent.

ARTICLE VIII 

Miscellaneous

SECTION 8.01.
Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in writing
and shall be deemed given upon receipt by the Parties at the following addresses (or at such other address for a Party as shall
be specified by like notice):

 

If to the Parent, to:

TimefireVR, Inc.

7150 E. Camelback Rd. Ste.
444

Scottsdale, AZ 85251

Attn: Jonathan Read, CEO

 

With a copy to (which shall
not constitute notice):

Nason Yeager Gerson Harris
& Fumero, P.A.

3001 PGA Boulevard, Suite
305

Palm Beach Gardens, FL 33410

Attn: Michael D. Harris,
Esq.

 

If to the Company,
to:

Red Cat Propware,
Inc.

Attn: Jeffrey Thompson, CEO

Cobian Plaza Office
Building

1607 Ponce de Leon
Ave, Suite 407

San Juan, PR 00909

 

With a copy to (which shall
not constitute notice):

Laxague Law, Inc.

Attn: Joe Laxague, Esq.

1 East Liberty, Suite 600

Reno, NV 89501

 

If to the Shareholders
at the addresses set forth in Exhibit A hereto.

SECTION 8.02.
Amendments; Waivers; No Additional Consideration. No provision of this Agreement may be waived or amended except
in a written instrument signed by the Company, Parent and the Shareholders. No waiver of any default with respect to any provision,
condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent
default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any Party to exercise
any right hereunder in any manner impair the exercise of any such right.

SECTION 8.03.
Replacement of Securities. If any certificate or instrument evidencing any Parent Stock is mutilated, lost, stolen
or destroyed, the Parent shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in
lieu of and substitution therefore, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory
to the Parent of such loss, theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new
certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance
of such replacement Parent Stock. If a replacement certificate or instrument evidencing any Parent Stock is requested due to a
mutilation thereof, the Parent may require delivery of such mutilated certificate or instrument as a condition precedent to any
issuance of a replacement.

SECTION 8.04.
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery
of damages, the Shareholders, the Parent and the Company will be entitled to specific performance under this Agreement. The Parties
agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described
in the foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the defense
that a remedy at law would be adequate.

SECTION 8.05.
Limitation of Liability. Notwithstanding anything herein to the contrary, each of the Parent and the Company acknowledge
and agree that the liability of the Shareholders arising directly or indirectly, under any transaction document of any and every
nature whatsoever shall be satisfied solely out of the assets of the Shareholders, and that no trustee, officer, other investment
vehicle or any other affiliate of the Shareholders or any investor, shareholder or holder of shares of beneficial interest of the
Shareholders shall be personally liable for any liabilities of the Shareholders.

SECTION 8.06.
Interpretation. When a reference is made in this Agreement to a Section, such reference shall be to a Section of
this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or “including”
are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”

SECTION 8.07.
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced
by any rule or Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force
and effect so long as the economic or legal substance of the Transactions contemplated hereby is not affected in any manner materially
adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced,
the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely
as possible in an acceptable manner to the end that Transactions contemplated hereby are fulfilled to the extent possible.

SECTION 8.08.
Counterparts; Facsimile Execution. This Agreement may be executed in one or more counterparts, all of which shall
be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the
Parties and delivered to the other Parties. Facsimile execution and delivery of this Agreement is legal, valid and binding for
all purposes.

SECTION 8.09.
Entire Agreement; Third Party Beneficiaries. This Agreement, taken together with the Company Disclosure Schedule
and the Parent Disclosure Schedule, (a) constitutes the entire agreement, and supersede all prior agreements and understandings,
both written and oral, among the Parties with respect to the Transactions and (b) are not intended to confer upon any person other
than the Parties any rights or remedies.

SECTION 8.10.
Governing Law; Exclusive Jurisdiction. This Agreement, the legal relations between the parties and any Action, whether
contractual or non-contractual, instituted by any party with respect to any matter arising between the parties, including but not
limited to matters arising under or in connection with this Agreement, such as the negotiation, execution, interpretation, coverage,
scope, performance, breach, termination, validity, or enforceability of this Agreement, shall be governed by and construed in accordance
with the internal laws of the State of Nevada without reference to principles of conflicts of laws. The parties hereto hereby irrevocably
submit to the exclusive jurisdiction of the courts of the State of Nevada and the Federal Courts of the United States of America
located within Clark County, Nevada with respect to any matter arising between the parties, and hereby waive, and agree not to
assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or thereof, that it is not
subject thereto or that such action, suit or proceeding may not be brought or is not maintainable in said courts or that the venue
thereof may not be appropriate or that this Agreement or any such document may not be enforced in or by such courts, and the parties
hereto irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined in such a Nevada
State or Federal court. The parties hereby consent to and grant any such court jurisdiction over the person of such parties and
over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such action or
proceeding in any manner as may be permitted by applicable Law, shall be valid and sufficient service thereof. With respect to
any particular action, suit or proceeding arising between the parties, including but not limited to matters arising under or in
connection with this Agreement, venue shall lie solely in any Clark County or any Federal Court of the United States of America
sitting in the Clark County, Nevada.

SECTION 8.11. Assignment.
Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in
part, by operation of law or otherwise by any of the Parties without the prior written consent of the other Parties. Any purported
assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure
to the benefit of, and be enforceable by, the Parties and their respective successors and assigns.

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have executed and delivered this Share Exchange Agreement as of the date first above written.

 

The Parent:

By: /s/ Jonathan Read

Name: Jonathan Read

Title: Chief Executive Officer

The Company:

By: /s/ Jeffrey Thompson

Name: Jeffrey Thompson

Title: Chief Executive OfficerExhibit 10.2

 

THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR REGISTERED OR QUALIFIED UNDER ANY STATE SECURITIES
LAWS. THE SECURITIES MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS SUCH SALE, TRANSFER, PLEDGE OR HYPOTHECATION
IS IN ACCORDANCE WITH SUCH ACT AND APPLICABLE STATE SECURITIES LAWS.

No. of Shares of Common Stock:
563,848,196

WARRANT

to Purchase Common Stock of

TimeFireVR, Inc.

a Nevada Corporation

This
Warrant certifies that Cavalry Fund I LP (“Purchaser”),
is entitled to purchase from TimeFireVR, Inc.,
a Nevada corporation (the “Company”), 563,848,196 shares
of Common Stock (or any portion thereof) at an exercise price of $0.00027 per
share of Common Stock, for a period of five (5) years from the date hereof, all on the terms and conditions hereinafter provided.

Section 1. Certain
Definitions. As used in this Warrant, unless the context otherwise requires:

“Articles”
shall mean the Articles of Incorporation of the Company, as in effect from time to time.

“Common
Stock” shall mean the Company’s authorized common stock, no par value per share.

“Exercise
Price” shall mean the exercise price per share of Common Stock set forth above, as adjusted from time to time pursuant
to Section 3 hereof.

“Securities
Act” shall mean the Securities Act of 1933, as amended.

“Warrant”
shall mean this Warrant and all additional or new warrants issued upon division or combination of, or in substitution for, this
Warrant. All such additional or new warrants shall at all times be identical as to terms and conditions and date, except as to
the number of shares of Common Stock for which they may be exercised.

“Warrant
Stock” shall mean the shares of Common Stock purchasable by the holder of this Warrant upon the exercise of such Warrant.

“Warrantholder”
shall mean the Purchaser, as the initial holder of this Warrant, and its nominees, successors or assigns, including any subsequent
holder of this Warrant to whom it has been legally transferred.

Section 2. Exercise
of Warrant.

(a) At
any time during the five (5) years following the date hereof, the Purchaser may at any time and from time to time exercise this
Warrant, in whole or in part.

(b) (i)
The Warrantholder shall exercise this Warrant by means of delivering to the Company at its office identified in Section 14 hereof
(i) a written notice of exercise, including the number of shares of Warrant Stock to be delivered pursuant to such exercise, (ii)
this Warrant and (iii) payment equal to the Exercise Price in accordance with Section 2(b)(ii). In the event that any exercise
shall not be for all shares of Warrant Stock purchasable hereunder, the Company shall deliver to the Warrantholder a new Warrant
registered in the name of the Warrantholder, of like tenor to this Warrant and for the remaining shares of Warrant Stock purchasable
hereunder, within ten (10) days of any such exercise. Such notice of exercise shall be in the Subscription Form set out at the
end of this Warrant.

(ii) The Warrantholder
may elect to pay the Exercise Price to the Company either by cash, certified check or wire transfer.

(c) Upon
exercise of this Warrant and delivery of the Subscription Form with proper payment relating thereto, the Company shall cause to
be executed and delivered to the Warrantholder a certificate or certificates representing the aggregate number of fully-paid and
nonassessable shares of Common Stock issuable upon such exercise.

(d) The
stock certificate or certificates for Warrant Stock to be delivered in accordance with this Section 2 shall be in such denominations
as may be specified in said notice of exercise and shall be registered in the name of the Warrantholder or such other name or names
as shall be designated in said notice. Such certificate or certificates shall be deemed to have been issued and the Warrantholder
or any other person so designated to be named therein shall be deemed to have become the holder of record of such shares, including
to the extent permitted by law the right to vote such shares or to consent or to receive notice as stockholders, as of the time
said notice is delivered to the Company as aforesaid.

(e) The
Company shall pay all expenses payable in connection with the preparation, issue and delivery of stock certificates under this
Section 2, including any transfer taxes resulting from the exercise of the Warrant and the issuance of Warrant Stock hereunder.

(f) All
shares of Warrant Stock issuable upon the exercise of this Warrant in accordance with the terms hereof shall be validly issued,
fully paid and nonassessable, and free from all liens and other encumbrances thereon, other than liens or other encumbrances created
by the Warrantholder.

(g) In
no event shall any fractional share of Common Stock of the Company be issued upon any exercise of this Warrant. If, upon any exercise
of this Warrant, the Warrantholder would, except as provided in this paragraph, be entitled to receive a fractional share of Common
Stock, then the Company shall deliver in cash to such holder an amount equal to such fractional interest.

Section 3. Piggy-back
Registration Rights. If, at any time during the term of this Warrant, the Company shall determine to prepare and file with
the Securities and Exchange Commission either: (i) a registration statement under the Securities Act, other than on Form S-4 or
Form S-8; or (ii) an offering statement under Regulation A, relating to an offering for its own account or the account of others
of any of its equity securities, then the Company shall deliver to the Warrantholder a written notice of such determination and,
if within fifteen days after the date of the delivery of such notice, the Warrantholder shall so request in writing, the Company
shall include in such registration statement or offering statement all or any part of the shares of Common Stock issuable upon
exercise of this Warrant as the Warrantholder requests to be so registered or offered; provided, however, that the
Company shall not be required to register or offer any securities pursuant to this Section 3 that are eligible for resale pursuant
to Rule 144(k) promulgated under the Securities Act or that are already the subject of a then effective registration statement
or then qualified offering statement. Inclusion of shares of Common Stock issuable upon exercise of this Warrant in an offering
statement made under Regulation A shall be subject to the dollar limits imposed on selling security holders under Rule 251(a) under
the Securities Act, if applicable.

Section 4. Adjustment
of Exercise Price and Warrant Stock.

(a) If,
at any time prior to the Expiration Date, the number of outstanding shares of Common Stock is (i) increased by a stock dividend
payable in shares of Common Stock or by a subdivision or split-up of shares of Common Stock, or (ii) decreased by a combination
of shares of Common Stock, then, following the record date fixed for the determination of holders of Common Stock entitled to receive
the benefits of such stock dividend, subdivision, split-up, or combination, the Exercise Price shall be adjusted to a new amount
equal to the product of (I) the Exercise Price in effect on such record date and (II) the quotient obtained by dividing (x) the
number of shares of Common Stock outstanding on such record date (without giving effect to the event referred to in the foregoing
clause (i) or (ii)), by (y) the number of shares of Common Stock which would be outstanding immediately after the event referred
to in the foregoing clause (i) or (ii), if such event had occurred immediately following such record date.

(b) Upon
each adjustment of the Exercise Price as provided in Section 3 (a), the Warrantholder shall thereafter be entitled to subscribe
for and purchase, at the Exercise Price resulting from such adjustment, the number of shares of Warrant Stock equal to the product
of (i) the number of shares of Warrant Stock existing prior to such adjustment and (ii) the quotient obtained by dividing (I) the
Exercise Price existing prior to such adjustment by (II) the new Exercise Price resulting from such adjustment.

(c) If,
at any time prior to the Expiration Date, there occurs an event which would cause the automatic conversion (“Automatic Conversion”)
of the Warrant Stock into shares of the Company’s common stock (“Common Stock”) in accordance with the Articles,
then any Warrant shall thereafter be exercisable, prior to the Expiration Date, into the number of shares of Common Stock into
which the Warrant Stock would have been convertible pursuant to the Charter if the Automatic Conversion had not taken place.

Section 5. Division
and Combination. This Warrant may be divided or combined with other Warrants upon presentation at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Warrantholder or its agent or attorney. The Company shall pay all expenses in connection with the preparation, issue and delivery
of Warrants under this Section 4, including any transfer taxes resulting from the division or combination hereunder. The Company
agrees to maintain at its aforesaid office books for the registration of the Warrants.

Section 6. Reclassification,
Etc. In case of any reclassification or change of the outstanding Common of the Company (other than as a result of a subdivision,
combination or stock dividend), or in case of any consolidation of the Company with, or merger of the Company into, another corporation
or other business organization (other than a consolidation or merger in which the Company is the continuing corporation and which
does not result in any reclassification or change of the outstanding Common Stock of the Company) at any time prior to the Expiration
Date, then, as a condition of such reclassification, reorganization, change, consolidation or merger, lawful provision shall be
made, and duly executed documents evidencing the same from the Company or its successor shall be delivered to the Warrantholder,
so that the Warrantholder shall have the right prior to the Expiration Date to purchase, at a total price not to exceed that payable
upon the exercise of this Warrant, the kind and amount of shares of stock and other securities and property receivable upon such
reclassification, reorganization, change, consolidation or merger by a holder of the number of shares of Common Stock of the Company
which might have been purchased by the Warrantholder immediately prior to such reclassification, reorganization, change, consolidation
or merger, in any such case appropriate provisions shall be made with respect to the rights and interest of the Warrantholder to
the end that the provisions hereof (including provisions for the adjustment of the Exercise Price and of the number of shares purchasable
upon exercise of this Warrant) shall thereafter be applicable in relation to any shares of stock and other securities and property
thereafter deliverable upon exercise hereof.

Section 7. Reservation
and Authorization of Capital Stock. The Company shall at all times reserve and keep available for issuance such number of its
authorized but unissued shares of Common Stock as will be sufficient to permit the exercise in full of all outstanding Warrants.

Section 8. Stock
and Warrant Books. The Company will not at any time, except upon dissolution, liquidation or winding up, close its stock books
or Warrant books so as to result in preventing or delaying the exercise of any Warrant.

Section 9. Limitation
of Liability. No provisions hereof, in the absence of affirmative action by the Warrantholder to purchase Warrant Stock hereunder,
shall give rise to any liability of the Warrantholder to pay the Exercise Price or as a stockholder of the Company (whether such
liability is asserted by the Company or creditors of the Company).

Section 10. Transfer. Subject to compliance with the
Securities Act and the applicable rules and regulations promulgated thereunder, this Warrant and all rights hereunder shall be
transferable in whole or in part. Any such transfer shall be made at the office or agency of the Company at which this Warrant
is exercisable, by the registered holder hereof in person or by its duly authorized attorney, upon surrender of this Warrant together
with the assignment hereof properly endorsed, and promptly thereafter a new warrant shall be issued and delivered by the Company,
registered in the name of the assignee. Until registration of transfer hereof on the books of the Company, the Company may treat
the Purchaser as the owner hereof for all purposes.

Section 11. Investment
Representations; Restrictions on Transfer of Warrant Stock. Unless a current registration statement under the Securities Act
shall be in effect with respect to the Warrant Stock to be issued upon exercise of this Warrant, the Warrantholder, by accepting
this Warrant, covenants and agrees that, at the time of exercise hereof, and at the time of any proposed transfer of Warrant Stock
acquired upon exercise hereof, such Warrantholder will deliver to the Company a written statement that the securities acquired
by the Warrantholder upon exercise hereof are for the account of the Warrantholder or are being held by the Warrantholder as trustee,
investment manager, investment advisor or as any other fiduciary for the account of the beneficial owner or owners for investment
and are not acquired with a view to, or for sale in connection with, any distribution thereof (or any portion thereof) and with
no present intention (at any such time) of offering and distributing such securities (or any portion thereof).

Section 12. Loss,
Destruction of Warrant Certificates. Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction or
mutilation of any Warrant and, in the case of any such loss, theft or destruction, upon receipt of indemnity and/or security satisfactory
to the Company or, in the case of any such mutilation, upon surrender and cancellation of such Warrant, the Company will make and
deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and representing the right to
purchase the same aggregate number of shares of Common Stock.

Section 13. Amendments.
The terms of this Warrant may be amended, and the observance of any term herein may be waived, but only with the written consent
of the Company and the Warrantholder.

Section 14. Notices
Generally. Any notice, request, consent, other communication or delivery pursuant to the provisions hereof shall be in writing
and shall be sent by one of the following means: (i) by registered or certified first class mail, postage prepaid, return receipt
requested; (ii) by facsimile transmission with confirmation of receipt; (iii) by nationally recognized courier service guaranteeing
overnight delivery; or (iv) by personal delivery, and shall be properly addressed to the Warrantholder at the last known address
or facsimile number appearing on the books of the Company, or, except as herein otherwise expressly provided, to the Company at
its principal executive office, or such other address or facsimile number as shall have been furnished to the party giving or making
such notice, demand or delivery.

Section 15. Successors
and Assigns. This Warrant shall bind and inure to the benefit of and be enforceable by the parties hereto and their respective
permitted successors and assigns.

Section 16.
Governing Law. In all respects, including all matters of construction, validity and performance, this Warrant and the obligations
arising hereunder shall be governed by, and construed and enforced in accordance with the laws of the State of Nevada.

    	 	 	 

     

    

IN WITNESS
WHEREOF, the Company has caused this Warrant to be signed in its name by its President.

Dated:
May 15, 2019

TimeFireVR, Inc.

a Nevada Corporation

 

 

By: /s/ Jonathan Read

Jonathan Read, CEO

    	 	 	 

     

    

SUBSCRIPTION FORM

(to be executed only upon exercise
of Warrant)

To:
TimeFireVR, Inc..
 

 

The undersigned,
pursuant to the provisions set forth in the attached Warrant, hereby irrevocably elects to purchase __________ shares of the Common
Stock covered by such Warrant and herewith makes payment of $__________, representing the full purchase price for such shares at
the price per share provided for in such Warrant.

 

Dated: ____________

Name:_______________________

Signature:_____________________

Address:______________________

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