Document:

Exhibit 4.1

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM,
THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT OR OTHER APPLICABLE
EXEMPTION. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR
FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

	Principal Amount: $825,000.00	Issue Date: April 26, 2021          
	Actual Amount of Purchase Price: $750,000.00	 

 

CONVERTIBLE PROMISSORY NOTE

 

FOR VALUE
RECEIVED, DARKPULSE, INC., a Delaware corporation (hereinafter called the “Borrower”), hereby promises to pay to
the order of FIRSTFIRE GLOBAL OPPORTUNITIES FUND LLC, a Delaware limited liability company, or registered assigns (the “Holder”),
in the form of lawful money of the United States of America, the principal sum of up to $825,000.00 (the “Principal Amount”)
(subject to adjustment herein), with a purchase price of $750,000.00 (the “Consideration”) hereof plus an original issue discount
in the amount of $75,000.00 (the “OID”), and to pay interest on the Principal Amount under this Note at the rate of ten percent
(10%) (the “Interest Rate”) per annum guaranteed from the date that the amount of Consideration is fully funded in accordance
with the terms of this Note until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise,
as further provided herein with the understanding that the first nine (9) months of interest (equal to $61,875.00) shall be guaranteed
and earned in full as of the Issue Date.. The maturity date for this Note shall be nine (9) months from the issue date (“Maturity
Date”), and is the date upon which the principal sum as well as any accrued and unpaid interest and other fees shall be due and
payable. Notwithstanding any other provision of this Note or any related transaction documents, Borrower may prepay this Note only pursuant
to Section 1.9 hereof.

 

It is further
acknowledged and agreed that the Principal Amount owed by Borrower under this Note shall be increased by the amount of all expenses up
to a maximum of $500 incurred by the Holder relating to any conversion of this Note into shares of Common Stock. All such expenses shall
be deemed added to the Principal Amount hereunder to the extent such expenses are paid by the Holder.

 

Interest
shall commence accruing on the date that the Note is issued and shall be computed on the basis of a 365-day year and the actual number
of days elapsed. Any Principal Amount or interest on this Note which is not paid when due shall bear interest at the rate the lesser of
(a) twenty percent (20%) per annum from the due date thereof until the same is paid (“Default Interest”); or (b) the maximum
rate allowed by law.

 

All payments
due hereunder (to the extent not converted into shares of common stock of the Borrower (the “Common Stock”) in accordance
with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address as the
Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Whenever any amount
expressed to be due by the terms of this Note is due on any day which is not a business day, the same shall instead be due on the next
succeeding day which is a business day and, in the case of any interest payment date which is not the date on which this Note is paid
in full, the extension of the due date thereof shall not be taken into account for purposes of determining the amount of interest due
on such date.

 

 

 

 

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Each capitalized
term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement, dated
as of the Issue Date, pursuant to which this Note was originally issued (the “Purchase Agreement”). As used in this Note,
the term “business day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the city of
New York, New York are authorized or required by law or executive order to remain closed. As used herein, the term “Trading Day”
means any day that shares of Common Stock are listed for trading or quotation on the Principal Market (as defined in the Purchase Agreement),
any tier of the NASDAQ Stock Market, the New York Stock Exchange or the NYSE MKT or any of the OTCQX® Best Market, OTCQB® Venture
Market or the OTC Pink Market.

 

This Note
is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights
or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

The following terms shall apply to this Note:

 

ARTICLE I. CONVERSION RIGHTS

 

1.1                
Conversion Right. The Holder shall have the right, at any time while there are amounts outstanding under the Note and after
one hundred eighty (180) days from the issuance hereof, to convert all or any portion of the then outstanding and unpaid Principal Amount
and interest (including any Default Interest) into fully paid and non-assessable shares of Common Stock, as such Common Stock exists on
the Issue Date, or any shares of capital stock or other securities of the Borrower into which such Common Stock shall hereafter be changed
or reclassified, at the Conversion Price (as defined below) determined as provided herein (a “Conversion”); provided, however,
that in no event shall the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon conversion
of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other than shares of
Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of this Note or the unexercised or
unconverted portion of any other security of the Borrower subject to a limitation on conversion or exercise analogous to the limitations
contained herein) and (2) the number of Conversion Shares issuable upon the conversion of the portion of this Note with respect to which
the determination of this proviso is being made, would result in beneficial ownership by the Holder and its affiliates of more than 4.99%
of the then outstanding shares of Common Stock. For purposes of the proviso set forth in the immediately preceding sentence, beneficial
ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”),
and Regulations 13D-G thereunder, except as otherwise provided in clause (1) of such proviso, provided, however, that the limitations
on conversion may be waived (up to 9.99%) by the Holder upon, at the election of the Holder, not less than 61 days’ prior notice
to the Borrower, and the provisions of the conversion limitation shall continue to apply until such 61st day (or such later date, as determined
by the Holder, as may be specified in such notice of waiver). The number of Conversion Shares to be issued upon each conversion of this
Note shall be determined by dividing the Conversion Amount (as defined below) by the applicable Conversion Price then in effect on the
date specified in the notice of conversion, in the form attached hereto as Exhibit A (the “Notice of Conversion”),
delivered to the Borrower or Borrower’s transfer agent by the Holder in accordance with Section 1.4 below; provided that the Notice
of Conversion is submitted by facsimile or e-mail (or by other means resulting in, or reasonably expected to result in, notice) to the
Borrower or Borrower’s transfer agent before 11:59 p.m., New York, New York time on such conversion date (the “Conversion
Date”). The term “Conversion Amount” means, with respect to any conversion of this Note, the sum of (1) the Principal
Amount of this Note to be converted in such conversion plus (2) at the Holder’s option, accrued and unpaid interest, if any,
on such Principal Amount at the Interest Rate to the Conversion Date, plus (3) at the Holder’s option, Default Interest,
if any, on the amounts referred to in the immediately preceding clauses (1) and/or (2), plus (4) up to $500.00 of expenses incurred by
the Holder with respect to a Conversion.

 

 1.2                
 Conversion Price.

 

(a)   
Calculation of Conversion Price. The per share conversion price into which Principal Amount and interest (including any
Default Interest) under this Note shall be convertible into shares of Common Stock hereunder (the “Conversion Price”) shall
be equal to $0.015 per share (the “Fixed Conversion Price”) subject to pro-rata and other appropriate adjustments in the event
of a stock split, reverse-stock split, stock dividend and similar recapitalizations; provided however, if an Event of Default has
occurred or is existing while any amounts due under this Note are outstanding, the Conversion Price shall be $0.005 per share (the “Default
Fixed Conversion Price”), also Default Fixed Conversion Price shall be subject to pro-rata and other appropriate adjustments as
would be applicable to the Conversion Price. In the event the Borrower has a DTC “Chill” on its shares, an additional discount
of ten percent (10%) shall apply to the Conversion Price while that “Chill” is in effect.

 

 

 

 

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(b)    Conversion
Price During Major Announcements. Notwithstanding anything contained in Section 1.2(a) to the contrary, in the event the Borrower
(i) makes a public announcement that it intends to be acquired by, consolidate or merge with any other corporation or entity (other than
a merger in which the Borrower is the surviving or continuing corporation and its capital stock is unchanged) or sell or transfer all
or substantially all of the assets of the Borrower or (ii) any person, group or entity (including the Borrower) publicly announces a tender
offer to purchase fifty percent (50%) or more of the Common Stock (or any other takeover scheme) (any such transaction referred to in
clause (i) or (ii) being referred to herein as a “Change in Control” and the date of the announcement referred to in clause
(i) or (ii) is being referred to herein as the “Announcement Date”), then the Conversion Price shall, effective upon the Announcement
Date and continuing through the Adjusted Conversion Price Termination Date (as defined below), be equal to the lower of (x) the Conversion
Price and (y) a twenty-five percent (25%) discount to the Acquisition Price (as defined below), but shall in no event be no lower than
$0.01 per share. From and after the Adjusted Conversion Price Termination Date, the Conversion Price shall be determined as set forth
in Section 1.2(a). For purposes hereof, “Adjusted Conversion Price Termination Date” shall mean, with respect to any proposed
Change in Control for which a public announcement as contemplated by this Section 1.2(b) has been made, the date upon which the Borrower
(in the case of clause (i) above) or the person, group or entity (in the case of clause (ii) above) consummates or publicly announces
the termination or abandonment of the proposed Change in Control which caused this Section 1.2(b) to become operative. For purposes hereof,
“Acquisition Price” shall mean a price per share of Common Stock derived by dividing (x) the total consideration (in cash,
equity, earn- out or similar payments or otherwise) paid or to be paid to the Borrower or its shareholders in the Change in Control transaction
by (y) the number of authorized shares of Common Stock outstanding as of the business day prior to the Announcement Date.

 

1.3                
Authorized and Reserved Shares. The Borrower covenants that at all times until the Note is satisfied in full, the Borrower
will reserve from its authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for
the issuance of a number of Conversion Shares equal to (i) the number of Conversion Shares issuable upon the full conversion of this Note
(assuming no payment of Principal Amount or interest) as of any issue date (taking into consideration any adjustments to the Conversion
Price pursuant to Section 2 hereof or otherwise) multiplied by (ii) three (3) (the “Reserved Amount”). The initial
Reserved Amount shall be 550,000,000 shares. In the event that the Borrower shall be unable to reserve the entirety of the Reserved Amount
(the “Reserve Amount Failure”), the Borrower shall promptly take all actions necessary to increase its authorized share capital
to accommodate the Reserved Amount (the “Authorized Share Increase”), including without limitation, all board of directors
actions and approvals and promptly (but no less than sixty (60) days following the calling and holding a special meeting of its shareholders
no more than sixty (60) days following the Reserve Amount Failure to seek approval of the Authorized Share Increase via the solicitation
of proxies. Notwithstanding the foregoing, in no event shall the Reserved Amount be lower than the initial Reserved Amount, regardless
of any prior conversions. The Borrower represents that upon issuance, the Conversion Shares will be duly and validly issued, fully paid
and non- assessable. In addition, if the Borrower shall issue any securities or make any change to its capital structure which would change
the number of Conversion Shares into which this Note shall be convertible at the then current Conversion Price, the Borrower shall at
the same time make proper provision so that thereafter there shall be a sufficient number of shares of Common Stock authorized and reserved,
free from preemptive rights, for conversion of this Note. The Borrower (i) acknowledges that it has irrevocably instructed its transfer
agent to issue certificates for the Conversion Shares or instructions to have the Conversion Shares issued as contemplated by Section
1.4(f) hereof, and (ii) agrees that its issuance of this Note shall constitute full authority to its officers and agents who are charged
with the duty of executing stock certificates or cause the Borrower to electronically issue shares of Common Stock to execute and issue
the necessary certificates for the Conversion Shares or cause the Conversion Shares to be issued as contemplated by Section 1.4(f) hereof
in accordance with the terms and conditions of this Note.

 

If, at any
time the Borrower does not maintain the Reserved Amount it will be considered an Event of Default under this Note.

 

 1.4                
 Method of Conversion.

 

(a) 
  Mechanics of Conversion. This Note may be converted by the Holder in whole or in part, on any Trading Day, while any amounts
are outstanding hereunder, by submitting to the Borrower or Borrower’s transfer agent a Notice of Conversion (by facsimile, e-mail
or other reasonable means of communication dispatched on the Conversion Date prior to 11:59 p.m., New York, New York time). Any Notice
of Conversion submitted after 11:59 p.m., New York, New York time, shall be deemed to have been delivered and received on the next Trading
Day.

 

 

 

 

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(b)    Surrender
of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in accordance with
the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless the entire unpaid Principal
Amount is so converted. The Holder and the Borrower shall maintain records showing the Principal Amount so converted and the dates of
such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower, so as not to require physical
surrender of this Note upon each such conversion. In the event of any dispute or discrepancy, such records of the Borrower shall, prima
facie, be controlling and determinative in the absence of manifest error. Notwithstanding the foregoing, if any portion of this Note
is converted as aforesaid, the Holder may not transfer this Note unless the Holder first physically surrenders this Note to the Borrower,
whereupon the Borrower will forthwith issue and deliver upon the order of the Holder a new Note of like tenor, registered as the Holder
(upon payment by the Holder of any applicable transfer taxes) may request, representing in the aggregate the remaining unpaid Principal
Amount of this Note. The Holder and any assignee, by acceptance of this Note, acknowledge and agree that, by reason of the provisions
of this paragraph, following conversion of a portion of this Note, the unpaid and unconverted Principal Amount of this Note represented
by this Note may be less than the amount stated on the face hereof.

 

(c)   
Payment of Taxes. The Borrower shall not be required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of shares of Common Stock or other securities or property on conversion of this Note in a name other than that
of the Holder (or in street name), and the Borrower shall not be required to issue or deliver any such shares or other securities or property
unless and until the person or persons (other than the Holder or the custodian in whose street name such shares are to be held for the
Holder’s account) requesting the issuance thereof shall have paid to the Borrower the amount of any such tax or shall have established
to the satisfaction of the Borrower that such tax has been paid.

 

(d)    Delivery
of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail (or other reasonable
means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in this Section 1.4, the Borrower
shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder certificates for the Conversion Shares
(or cause the electronic delivery of the Conversion Shares as contemplated by Section 1.4(f) hereof) within three (3) Trading Days after
such receipt (the “Deadline”) (and, solely in the case of conversion of the entire unpaid Principal Amount and interest (including
any Default Interest) under this Note, surrender of this Note). If the Borrower shall fail for any reason or for no reason to issue to
the Holder on or prior to the Deadline a certificate for the number of Conversion Shares or to which the Holder is entitled hereunder
and register such Conversion Shares on the Borrower’s share register or to credit the Holder’s balance account with DTC (as
defined below) for such number of Conversion Shares to which the Holder is entitled upon the Holder’s conversion of this Note (a
“Conversion Failure”), then, in addition to all other remedies available to the Holder, (i) the Borrower shall pay in cash
to the Holder on each day after the Deadline and during such Conversion Failure an amount equal to two percent (2.0%) of the product of
(A) the sum of the number of Conversion Shares not issued to the Holder on or prior to the Deadline and to which the Holder is entitled
and (B) the closing sale price of the Common Stock on the Trading Day immediately preceding the last possible date which the Borrower
could have issued such Conversion Shares to the Holder without violating this Section 1.4(d); and (ii) the Holder, upon written notice
to the Borrower, may void its Notice of Conversion with respect to, and retain or have returned, as the case may be, any portion of this
Note that has not been converted pursuant to such Notice of Conversion; provided that the voiding of an Notice of Conversion shall not
affect the Borrower’s obligations to make any payments which have accrued prior to the date of such notice. In addition to the foregoing,
if on or prior to the Deadline the Borrower shall fail to issue and deliver a certificate to the Holder and register such Conversion Shares
on the Borrower’s share register or credit the Holder’s balance account with DTC for the number of Conversion Shares to which
the Holder is entitled upon the Holder’s exercise hereunder or pursuant to the Borrower’s obligation pursuant to clause (ii)
below, and if on or after such Trading Day the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to
deliver in satisfaction of a sale by the Holder of shares of Common Stock issuable upon such exercise that the Holder anticipated receiving
from the Borrower, then the Borrower shall, within two (2) Trading Days after the Holder’s request and in the Holder’s discretion,
either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions and other
reasonable and customary out-of-pocket expenses, if any) for the shares of Common Stock so purchased (the “Buy-In Price”),
at which point the Borrower’s obligation to deliver such certificate (and to issue such Conversion Shares) or credit such Holder’s
balance account with DTC for such Conversion Shares shall terminate, or (ii) promptly honor its obligation to deliver to the Holder a
certificate or certificates representing such Conversion Shares or credit such Holder’s balance account with DTC and pay cash to
the Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Common Stock,
times (B) the closing sales price of the Common Stock on the date of exercise. Nothing shall limit the Holder’s right to pursue
any other remedies available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or
injunctive relief with respect to the Borrower’s failure to timely deliver certificates representing the Conversion Shares (or to
electronically deliver such Conversion Shares) upon the conversion of this Note as required pursuant to the terms hereof.

 

 

 

 

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(e)    Obligation
of Borrower to Deliver Common Stock. At the time that the Holder submits the Notice of Conversion to the Borrower or Borrower’s
transfer agent, the Holder shall be deemed to be the holder of record of the Conversion Shares issuable upon such conversion, the outstanding
Principal Amount and the amount of accrued and unpaid interest (including any Default Interest) under this Note shall be reduced to reflect
such conversion, and, unless the Borrower defaults on its obligations under this Article I, all rights with respect to the portion of
this Note being so converted shall forthwith terminate except the right to receive the Common Stock or other securities, cash or other
assets, as herein provided, on such conversion. If the Holder shall have given a Notice of Conversion as provided herein, the Borrower’s
obligation to issue and deliver the certificates for the Conversion Shares (or cause the electronic delivery of the Conversion Shares
as contemplated by Section 1.4(f) hereof) shall be absolute and unconditional, irrespective of the absence of any action by the Holder
to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any person or any
action to enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower to the holder of record, or
any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder of any obligation to the
Borrower, and irrespective of any other circumstance which might otherwise limit such obligation of the Borrower to the Holder in connection
with such conversion. The Conversion Date specified in the Notice of Conversion shall be the Conversion Date so long as the Notice of
Conversion is sent to the Borrower or Borrower’s transfer agent before 11:59 p.m., New York, New York time, on such date.

 

(f)   
Delivery of Conversion Shares by Electronic Transfer. In lieu of delivering physical certificates representing the Conversion
Shares issuable upon conversion hereof, provided the Borrower is participating in the Depository Trust Borrower (“DTC”) Fast
Automated Securities Transfer or Deposit/Withdrawal at Custodian programs, upon request of the Holder and its compliance with the provisions
contained in Section 1.1 and in this Section 1.4, the Borrower shall use its reasonable best efforts to cause its transfer agent to electronically
transmit the Conversion Shares issuable upon conversion hereof to the Holder by crediting the account of Holder’s Prime Broker with
DTC through its Deposit Withdrawal Agent Commission system.

 

1.5                
Concerning the Shares. The Conversion Shares issuable upon conversion of this Note may not be sold or transferred unless
(i) such shares are sold pursuant to an effective registration statement or otherwise qualified for sale pursuant to Regulation A pursuant
to inclusion in a qualified Form 1-A filing under the 1933 Act; or (ii) the Borrower or its transfer agent shall have been furnished with
an opinion of counsel (which opinion shall be the Legal Counsel Opinion (as defined in the Purchase Agreement)) to the effect that the
shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration; or (iii) such shares are
sold or transferred pursuant to Rule 144, Rule 144A, Regulation S, or other applicable exemption; or (iv) such shares are transferred
to an “affiliate” (as defined in Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in accordance
with this Section 1.5 and who is an Accredited Investor (as defined in the Purchase Agreement). Except as otherwise provided in the Purchase
Agreement (and subject to the removal provisions set forth below), until such time as the Conversion Shares have been registered under
the 1933 Act or otherwise may be sold pursuant to Rule 144, Rule 144A, Regulation S, or other applicable exemption without any restriction
as to the number of securities as of a particular date that can then be immediately sold, each certificate for the Conversion Shares that
has not been so included in an effective registration statement or that has not been sold pursuant to an effective registration statement
or an exemption that permits removal of the legend, shall bear a legend substantially in the following form, as appropriate:

 

“NEITHER THE ISSUANCE
AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR (B) AN OPINION OF COUNSEL (WHICH MAY BE THE LEGAL COUNSEL OPINION (AS DEFINED IN THE PURCHASE AGREEMENT)), IN A GENERALLY ACCEPTABLE
FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A, REGULATION S, OR OTHER APPLICABLE
EXEMPTION UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR
OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

 

 

 

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The legend
set forth above shall be removed and the Borrower shall issue to the Holder a certificate for the applicable Conversion Shares without
such legend upon which it is stamped or (as requested by the Holder) issue the applicable Conversion Shares by electronic delivery by
crediting the account of such holder’s broker with DTC, if, unless otherwise required by applicable state securities laws: (a) such
Conversion Shares are registered for sale under an effective registration statement filed under the 1933 Act or otherwise may be sold
pursuant to Rule 144, Rule 144A, Regulation S, or other applicable exemption without any restriction as to the number of securities as
of a particular date that can then be immediately sold, or (b) the Borrower or the Holder provides the Legal Counsel Opinion (as contemplated
by and in accordance with Section 4(f) of the Purchase Agreement) to the effect that a public sale or transfer of such Conversion Shares
may be made without registration under the 1933 Act, which opinion shall be accepted by the Borrower so that the sale or transfer is effected.
The Borrower shall be responsible for the fees of its transfer agent and all DTC fees associated with any such issuance. The Holder agrees
to sell all Conversion Shares, including those represented by a certificate(s) from which the legend has been removed, in compliance with
applicable prospectus delivery requirements, if any. In the event that the Borrower does not accept the opinion of counsel provided by
the Holder with respect to the transfer of Conversion Shares pursuant to an exemption from registration, such as Rule 144, Rule 144A or
Regulation S, at the Deadline, notwithstanding that the conditions of Rule 144, Rule 144A, Regulation S, or other applicable exemption,
as applicable, have been met, it will be considered an Event of Default under this Note.

 

 1.6                
 Effect of Certain Events.

 

(a)    Effect
of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the
assets of the Borrower, or the consolidation, merger or other business combination of the Borrower with or into any other Person (as defined
below) or Persons when the Borrower is not the survivor shall either: (i) be deemed to be an acceleration event pursuant to which the
Borrower shall be required to pay to the Holder upon the consummation of an amount equal to Principal Amount plus accrued but unpaid interest;
or (ii) be treated pursuant to Section 1.6(b) hereof. “Person” shall mean any individual, corporation, limited liability Borrower,
partnership, association, trust, or other entity or organization.

 

(b)    Adjustment
Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion of all of this
Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar event, as a result
of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares of another class or classes
of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of all or substantially all of the assets
of the Borrower other than in connection with a plan of complete liquidation of the Borrower, then the Holder of this Note shall thereafter
have the right to receive upon conversion of this Note, upon the basis and upon the terms and conditions specified herein and in lieu
of the shares of Common Stock immediately theretofore issuable upon conversion, such stock, securities or assets which the Holder would
have been entitled to receive in such transaction had this Note been converted in full immediately prior to such transaction (without
regard to any limitations on conversion set forth herein), and in any such case appropriate provisions shall be made with respect to the
rights and interests of the Holder of this Note to the end that the provisions hereof (including, without limitation, provisions for adjustment
of the Conversion Price and of the number of shares issuable upon conversion of the Note) shall thereafter be applicable, as nearly as
may be practicable in relation to any securities or assets thereafter deliverable upon the conversion hereof. The Borrower shall not effectuate
any transaction described in this Section 1.6(b) unless (a) it first gives, to the extent practicable, at least thirty (30) days prior
written notice (but in any event at least seven (7) days prior written notice) of the record date of the special meeting of shareholders
to approve, or if there is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization,
reorganization or other similar event or sale of assets (during which time the Holder shall be entitled to convert this Note) and (b)
the resulting successor or acquiring entity (if not the Borrower) assumes by written instrument the obligations of this Section 1.6(b).
The above provisions shall similarly apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

(c)    Adjustment
Due to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire its assets) to holders
of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend or distribution to the
Borrower’s shareholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary (i.e., a spin-off)) (a
“Distribution”), then the Holder of this Note shall be entitled, upon any conversion of this Note after the date of record
for determining shareholders entitled to such Distribution, to receive the amount of such assets which would have been payable to the
Holder with respect to the shares of Common Stock issuable upon such conversion had such Holder been the holder of such shares of Common
Stock on the record date for the determination of shareholders entitled to such Distribution.

 

 

 

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(d)   
[RESERVED].

 

(e)   
Dilutive Issuance. If the Borrower, at any time while this Note or any amounts due hereunder are outstanding, issues, sells
or grants (or has issued, sold or granted as of the Issue Date, as the case may be) any option to purchase, or sells or grants any right
to reprice, or otherwise disposes of, or issues (or has sold or issued, as the case may be, or announces any sale, grant or any option
to purchase or other disposition), securities convertible into, exercisable for, or otherwise entitle any person or entity the right to
acquire, shares of Common Stock (including, without limitation, upon conversion of this Note, and any convertible notes or warrants outstanding
as of or following the Issue Date), in each or any case at an effective price per share that is lower than the then Conversion Price (such
lower price, the “Base Conversion Price” and such issuances, collectively, a “Dilutive Issuance”) (it being agreed
that if the holder of the Common Stock or other securities so issued shall at any time, whether by operation of purchase price adjustments,
reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which
are issued in connection with such issuance, be entitled to receive shares of Common Stock at an effective price per share that is lower
than the Conversion Price, such issuance shall be deemed to have occurred for less than the Conversion Price on such date of the Dilutive
Issuance), then the Conversion Price shall be reduced, at the option of the Holder, to a price equal the Base Conversion Price. If the
Borrower enters into a Variable Rate Transaction, despite the prohibition set forth in the Purchase Agreement, the Borrower shall be deemed
to have issued Common Stock or Common Stock Equivalents at the lowest possible price per share at which such securities could be issued
in connection with such Variable Rate Transaction. Such adjustment shall be made whenever such Common Stock or other securities are issued.
Notwithstanding the foregoing, no adjustment will be made under this Section 1.6(e) in respect of an Exempt Issuance. In the event of
an issuance of securities involving multiple tranches or closings, any adjustment pursuant to this Section 1.6(e) shall be calculated
as if all such securities were issued at the initial closing. This Section shall also be subject to the mechanics of Section 1.6(g) “Pending
Legislation” clause herein. Notwithstanding the foregoing, this Section 1.6(e) shall apply only to issuances originating after the
Effective Date hereof (i.e. post-Effective Date conversions of convertible notes or warrants issued prior to the Effective Date shall
not trigger an adjustment even if the conversion or exercise price is less than the Conversion Price).

 

An “Exempt
Issuance” shall mean the issuance of (i) shares of Common Stock or other securities to officers or directors of the Borrower pursuant
to any stock or option or similar equity incentive plan duly adopted for such purpose, by a majority of the non-employee members of the
Borrower’s Board of Directors or a majority of the members of a committee of non-employee directors (“Plan”) established
for such purpose in a manner which is consistent with the Borrower’s prior business practices or in settlement of accrued but unpaid
compensation and/or benefits regardless of whether such securities were issued from a Plan or in settlement of vendor payables; (ii) securities
issued pursuant to a merger, consolidation, acquisition or similar business combination approved by a majority of the disinterested directors
of the Borrower, provided that any such issuance shall only be to a Person (or to the equity holders of a Person) which is, itself or
through its subsidiaries, an operating Borrower or an owner of an asset in a business synergistic with the business of the Borrower and
shall provide to the Borrower additional benefits in addition to the investment of funds, but shall not include a transaction in which
the Borrower is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in
securities; (iii) securities issued pursuant to any equipment loan or leasing arrangement, real property leasing arrangement or debt financing
from a bank or similar financial institution approved by a majority of the disinterested directors of the Borrower; (iv) existing convertible
debt and equity lines of credit in existence on the date hereof;; or (v) securities issued with respect to which the Holder waives its
rights in writing under this Section 1.6(e).

 

(f)   
Notice of Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price as a result of the
events described in this Section 1.6, the Borrower, at its expense, shall promptly compute such adjustment or readjustment and prepare
and furnish to the Holder a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such
adjustment or readjustment is based. The Borrower shall, upon the written request at any time of the Holder, furnish to such Holder a
like certificate setting forth (i) such adjustment or readjustment; (ii) the Conversion Price at the time in effect; and (iii) the number
of shares of Common Stock and the amount, if any, of other securities or property which at the time would be received upon conversion
of the Note.

 

 

 

 

    	 	7	 

     

    

 

(g)    Pending
Legislation. As of the Issue Date hereof, proposed legislation exists, namely proposed amendments to Rule 144(d)(3)(ii) proposed
on December 22, 2020 in SEC Release 2020-336, that would fundamentally change the economic terms of this Note. In the event the
rule becomes law and becomes effective while any amounts are outstanding under this Note, Section 1.2 hereof shall be
automatically amended to contain only the Fixed Conversion Price of $0.015 per share. In the event that the Borrower is in default
of any of the provisions of the Note or other Transaction Documents, and the Borrower has not cured said default within five (5)
calendar days, the Fixed Conversion Price shall be reduced to the Default Fixed Conversion Price in addition to any other principal
adjustments, default interest, or other remedies available to it under law. In the event the final rule, or any other combination of
final rules, make this provision inoperable, invalid, or otherwise have an effect that changes the economics of the transactions
contemplated hereby, the pertinent clause or mechanic of operation shall be stricken and only the Fixed Price provision shall
remain.

 

1.7                
Adjustments to Conversion Price. At any time after the Issue Date, (i) if in the case that the Borrower’s Common Stock
is not deliverable by DWAC (including if the Borrower’s transfer agent has a policy prohibiting or limiting delivery of shares of
the Borrower’s Common Stock specified in a Notice of Conversion); (ii) if the Borrower ceases to be a reporting Borrower pursuant
or subject to the Exchange Act; (iii) if after the Borrower gets listed on a trading market, the Borrower subsequently loses a market
(including the OTC Pink Market, OTCQB® Venture Market or an equivalent replacement exchange) for its Common Stock; (iv) if the Borrower
fails to maintain its status as “DTC Eligible” for any reason; (v) if the Note cannot be converted into free trading shares
on or after six (6) months from the Issue Date; (vi) if at any time the Borrower does not maintain or replenish the Reserved Amount (as
defined herein) within three (3) business days of the request of the Holder; (vii) if the Borrower fails to comply with the reporting
requirements of the Exchange Act; the reporting requirements necessary to satisfy the availability of Rule 144 to the Holder or its assigns,
including but not limited to the timely fulfillment of its filing requirements as a fully- reporting issuer registered with the SEC; (ix)
if the Borrower effectuates a reverse split of its Common Stock without twenty (20) days prior written notice to the Holder; (x) if, once
listed, subsequently OTC Markets changes the Borrower’s designation to ‘No Information’ (Stop Sign) or ‘Caveat
Emptor’ (Skull and Crossbones); (xi) the restatement of any financial statements filed by the Borrower with the SEC for any date
or period from two (2) years prior to the Issue Date of this Note and until this Note is no longer outstanding, if the result of such
restatement would, by comparison to the un-restated financial statement, have constituted a material adverse effect on the rights of the
Holder with respect to this Note or the Purchase Agreement; (xii) once it begins trading on any of the trading markets or exchanges listed
hereafter, any cessation of trading of the Common Stock on at least one of the OTC Markets including but not limited to the OTC Pink Market,
or an equivalent replacement exchange, the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market, the New York
Stock Exchange, or the NYSE MKT, and such cessation of trading shall continue for a period of five consecutive (5) Trading Days; and/or
(xiii) the Borrower loses the “bid” price for its Common Stock ($0.0001 on the “Ask” with zero market makers on
the “Bid” per Level 2); or (xiv) if the Holder is notified in writing by the Borrower or the Borrower’s transfer agent
that the Borrower does not have the necessary amount of authorized and issuable shares of Common Stock available to satisfy the issuance
of Shares pursuant to a Conversion Notice, then in addition to all other remedies under this Note, the Holder shall be entitled to increase,
by fifteen percent (15%) for each occurrence, cumulative or otherwise, the discount to the Conversion Price shall apply for all future
conversions under the Note.

 

1.8                
Status as Shareholder. Upon submission of a Notice of Conversion by a Holder, (i) the Conversion Shares covered thereby
(other than the Conversion Shares, if any, which cannot be issued because their issuance would exceed such Holder’s allocated portion
of the Reserved Amount or Maximum Share Amount) shall be deemed converted into shares of Common Stock, and (ii) the Holder’s rights
as a Holder of such converted portion of this Note shall cease and terminate, excepting only the right to receive certificates for such
shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to such Holder because of a failure
by the Borrower to comply with the terms of this Note. Notwithstanding the foregoing, if a Holder has not received certificates for all
shares of Common Stock prior to the tenth (10th) business day after the expiration of the Deadline with respect to a conversion of any
portion of this Note for any reason, then (unless the Holder otherwise elects to retain its status as a holder of Common Stock by so notifying
the Borrower) the Holder shall regain the rights of a Holder of this Note with respect to such unconverted portions of this Note and the
Borrower shall, as soon as practicable, return such unconverted Note to the Holder or, if the Note has not been surrendered, adjust its
records to reflect that such portion of this Note has not been converted. In all cases, the Holder shall retain all of its rights and
remedies for the Borrower’s failure to convert this Note.

 

 

 

 

    	 	8	 

     

    

 

1.9                
Prepayment. Notwithstanding anything to the contrary contained in this Note, subject to the terms of this Section, at any
time during the period beginning on the Issue Date and ending at Maturity (“Prepayment Termination Date”), Borrower shall
have the right, exercisable on not less than five (5) Trading Days prior written notice to the Holder of this Note, to prepay up to the
outstanding balance on this Note (principal and accrued interest), in full, in accordance with this Section. Any notice of prepayment
hereunder (an “Optional Prepayment Notice”) shall be delivered to the Holder of the Note at its registered addresses and shall
state: (1) that the Borrower is exercising its right to prepay the Note, and (2) the date of prepayment which shall be not more than fifteen
(15) Trading Days from the date of the Optional Prepayment Notice; and (3) the amount (in dollars) that the Borrower is paying. Notwithstanding
Holder’s receipt of the Optional Prepayment Notice the Holder may convert, or continue to convert the Note in whole or in part until
the Optional Prepayment Amount (as defined herein) is paid to the Holder. On the date fixed for prepayment (the “Optional Prepayment
Date”), the Borrower shall make payment of the Optional Prepayment Amount (as defined below) to or upon the order of the Holder
as specified by the Holder in writing to the Borrower at least one (1) business day prior to the Optional Prepayment Date.  If the
Borrower exercises its right to prepay the Note, the Borrower shall make payment to the Holder of one hundred percent (100%) of the total
amount outstanding under the Note including, but not limited to all principal, interest, fees, and defaults (the “Optional Prepayment
Amount”).

 

ARTICLE II. RANKING AND CERTAIN COVENANTS

 

2.1                
Ranking and Security. The obligations of the Borrower under this Note shall be subordinate with respect to any and all Indebtedness
incurred as of or following the Issue Date.

 

2.2                
Other Indebtedness. So long as the Borrower shall have any obligation under this Note, the Borrower shall not (directly
or indirectly through any Subsidiary or affiliate) incur or suffer to exist or guarantee any Indebtedness that is senior to or pari passu
with (in priority of payment and performance) the Borrower’s obligations hereunder unless the proceeds of such Indebtedness are
used to pay off the interest and principal under this Note. As used in this Section 2.2, the term “Borrower” means the Borrower
and any Subsidiary of the Borrower. As used herein, the term “Indebtedness” means (a) all indebtedness of the Borrower for
borrowed money, but not including deferred purchase price obligations in place as of the Issue Date and as disclosed in the SEC Documents
or obligations to trade creditors incurred in the ordinary course of business, (b) all obligations of the Borrower evidenced by notes,
bonds, debentures or other similar instruments, (c) purchase money indebtedness hereafter incurred by the Borrower to finance the purchase
of fixed or capital assets, including all capital lease obligations of the Borrower which do not exceed the purchase price of the assets
funded, (d) all guarantee obligations of the Borrower in respect of obligations of the kind referred to in clauses (a) through (c) above
that the Borrower would not be permitted to incur or enter into, and (e) all obligations of the kind referred to in clauses (a) through
(d) above that the Borrower is not permitted to incur or enter into that are secured and/or unsecured by (or for which the holder of such
obligation has an existing right, contingent or otherwise, to be secured and/or unsecured by) any lien or encumbrance on property (including
accounts and contract rights) owned by the Borrower, whether or not the Borrower has assumed or become liable for the payment of such
obligation.

 

2.3                
Distributions on Capital Stock. So long as the Borrower shall have any obligation under this Note, the Borrower shall not
without the Holder’s written consent (a) pay, declare or set apart for such payment, any dividend or other distribution (whether
in cash, property or other securities) on shares of capital stock other than dividends on shares of Common Stock solely in the form of
additional shares of Common Stock or (b) directly or indirectly or through any subsidiary make any other payment or distribution in respect
of its capital stock except for distributions pursuant to any shareholders’ rights plan which is approved by a majority of the Borrower’s
disinterested directors or as may be permitted pursuant to Section 1.6(e).

 

2.4                
Restriction on Stock Repurchases. So long as the Borrower shall have any obligation under this Note, the Borrower shall
not without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange for property or
other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of the Borrower or
any warrants, rights or options to purchase or acquire any such shares.

 

 

 

 

    	 	9	 

     

    

 

2.5                
Sale of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s
written consent, sell, lease or otherwise dispose of any significant portion of its assets other than in an arm’s length transaction.
Any consent to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition, but otherwise such
consent shall not be unreasonably withheld, conditioned, or delayed.

 

2.6                
Advances and Loans; Affiliate Transactions. So long as the Borrower shall have any obligation under this Note, the Borrower
shall not, without the Holder’s written consent, lend money, give credit, make advances to or enter into any transaction with any
person, firm, joint venture or corporation, including, without limitation, officers, directors, employees, subsidiaries and affiliates
of the Borrower, except loans, credits or advances (a) in existence or committed on the Issue Date and which the Borrower has informed
Holder in writing prior to the Issue Date, (b) in regard to transactions with unaffiliated third parties, made in the ordinary course
of business or (c) in regard to transactions with unaffiliated third parties, not in excess of $250,000. So long as the Borrower shall
have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, repay any affiliate (as defined
in Rule 144) of the Borrower in connection with any indebtedness or accrued amounts owed to any such party outside the ordinary course
of business.

 

2.7                
Section 3(a)(9) or 3(a)(10) Transaction. So long as this Note is outstanding, the Borrower shall not enter into any transaction
or arrangement structured in accordance with, based upon, or related or pursuant to, in whole or in part, either Section 3(a)(9) of the
Securities Act (a “3(a)(9) Transaction”) or Section 3(a)(l0) of the Securities Act (a “3(a)(l0) Transaction”).
In the event that the Borrower does enter into, or makes any issuance of Common Stock related to a 3(a)(9) Transaction or a 3(a)(l0) Transaction
while this note is outstanding, a liquidated damages charge of twenty-five percent (25%) of the outstanding principal balance of this
Note, but not less than Twenty-Five Thousand Dollars ($25,000), will be assessed and will become immediately due and payable to the Holder
at its election in the form of a cash payment or added to the balance of this Note (under Holder's and Borrower's expectation that this
amount will tack back to the Issue Date). Notwithstanding the forgoing, transactions contemplated in the second paragraph (a) of Section
1.6(e) that may be considered Section 3(a)(9) or 3(a)(10) transactions are permissible and will not cause a liquidated damages charge.

 

2.8                
Preservation of Business and Existence, etc. So long as the Borrower shall have any obligation under this Note, the Borrower
shall not, without the Holder’s written consent, (a) change the nature of its business in a material respect; or (b) sell, divest,
change the structure of any material assets other than in the ordinary course of business. In addition, so long as the Borrower shall
have any obligation under this Note, the Borrower shall maintain and preserve, and cause each of its Subsidiaries to maintain and preserve,
its existence, rights and privileges, and become or remain, and cause each of its Subsidiaries (other than dormant Subsidiaries that have
no or minimum assets) to become or remain, duly qualified and in good standing in each jurisdiction in which the character of the properties
owned or leased by it or in which the transaction of its business makes such qualification necessary. Furthermore, so long as the Borrower
shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, solicit any offers for,
respond to any unsolicited offers for, or conduct any negotiations with, any other person or entity with respect to any Variable Rate
Transaction or investment.

 

2.9                
Non-circumvention. The Borrower hereby covenants and agrees that the Borrower will not, by amendment of its Certificate
or Articles of Incorporation or Bylaws, or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement,
dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of
the terms of this Note, and will at all times in good faith carry out all the provisions of this Note and take all action as may be required
to protect the rights of the Holder.

 

2.10             
Lost, Stolen or Mutilated Note. Upon receipt by the Borrower of evidence reasonably satisfactory to the Borrower of the
loss, theft, destruction or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking
by the Holder to the Borrower in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Borrower
shall execute and deliver to the Holder a new Note.

 

ARTICLE III. EVENTS OF DEFAULT

 

It shall be considered an event of
default if any of the following events listed in this Article III (each, an “Event of Default”) shall occur:

 

 

 

 

    	 	10	 

     

    

 

3.1                
Conversion and the Shares. The Borrower (i) fails to issue Conversion Shares to the Holder (or announces or threatens in
writing that it will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance
with the terms of this Note; (ii) fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated
form) any certificate for the Conversion Shares issuable to the Holder upon conversion of or otherwise pursuant to this Note as and when
required by this Note; (iii) fails to reserve the Reserved Amount at all times; or (iv) the Borrower directs its transfer agent not to
transfer or delays, impairs, and/or hinders its transfer agent in transferring (or issuing) (electronically or in certificated form) any
certificate for the Conversion Shares issuable to the Holder upon conversion of or otherwise pursuant to this Note as and when required
by this Note, or fails to remove (or directs its transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from
removing) any restrictive legend (or to withdraw any stop transfer instructions in respect thereof) on any certificate for any Conversion
Shares issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note (or makes any written
announcement, statement or threat that it does not intend to honor the obligations described in this paragraph) and any such failure shall
continue uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded in writing) for
five (5) Trading Days after the Holder shall have delivered a Notice of Conversion. It is an obligation of the Borrower to remain current
in its obligations to its transfer agent. It shall be an Event of Default of this Note, if a conversion of this Note is delayed, hindered
or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option of the Holder, the Holder advances any funds
to the Borrower’s transfer agent in order to process a conversion, such advanced funds shall be paid by the Borrower to the Holder
within forty-eight (48) hours of a demand from the Holder.

 

3.2                
Breach of Agreements and Covenants. The Borrower materially breaches any agreement, covenant or other term or condition
contained in the Purchase Agreement, this Note, the Irrevocable Transfer Agent Instructions or in any agreement, statement or certificate
given in writing pursuant hereto or in connection herewith or therewith.

 

3.3                
Breach of Representations and Warranties. Any material breach of any representation or warranty of the Borrower made in
the Purchase Agreement, this Note, the Irrevocable Transfer Agent Instructions or in any agreement, statement or certificate given in
writing pursuant hereto or in connection herewith or therewith shall be false or misleading in any material respect when made and the
breach of which has (or with the passage of time will have) a material adverse effect on the rights of the Holder with respect to this
Note or the Purchase Agreement.

 

3.4                
Receiver or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors,
or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such
a receiver or trustee shall otherwise be appointed.

 

3.5                
Judgments. Any money judgment, writ or similar process shall be entered or filed against the Borrower or any subsidiary
of the Borrower or any of its property or other assets for more than $300,000.00, and shall remain unvacated, unbonded or unstayed for
a period of twenty (20) days unless otherwise consented to by the Holder, which consent will not be unreasonably withheld.

 

3.6                
Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary,
for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary
of the Borrower.

 

3.7                
Delisting of Common Stock. The Borrower should fail to maintain the listing of the Common Stock on at least one of the OTC
Markets, including, but not limited to the OTC Pink Market, any level of the NASDAQ Markets or the New York Stock Exchange (including
the NYSE MKT).

 

3.8                
Failure to Comply with the 1934 Act. At any time after the Issue Date, the Borrower shall fail to comply in all material
respects with the reporting requirements of the 1934 Act and/or the Borrower shall cease to be subject to the reporting requirements of
the 1934 Act. It shall be an Event of Default under this section if the Borrower shall file any Notification of Late Filing on Form 12b-25
with the SEC.

 

 

 

 

    	 	11	 

     

    

 

3.9                
Liquidation. Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.10             
Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to
pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going
concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.11             
Financial Statement Restatement. The restatement of any financial statements filed by the Borrower with the SEC for any
date or period from two (2) years prior to the Issue Date of this Note and until this Note is no longer outstanding, if the result of
such restatement would, by comparison to the un-restated financial statement, have constituted a material adverse effect on the rights
of the Holder with respect to this Note or the Purchase Agreement.

 

3.12              
Reverse Splits. The Borrower effectuates a reverse split of its Common Stock without twenty (20) days prior written notice
to the Holder.

 

3.13             
Replacement of Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails
to provide, prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially
delivered pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock
in the Reserved Amount) signed by the successor transfer agent to Borrower and the Borrower.

 

3.14             
DTC “Chill”. The DTC places a “chill” (i.e. a restriction placed by DTC on one or more of DTC’s
services, such as limiting a DTC participant’s ability to make a deposit or withdrawal of the security at DTC) on any of the Borrower’s
securities.

 

3.15             
DWAC Eligibility. In addition to the Event of Default in Section 3.16, the Common Stock is otherwise not eligible for trading
through the DTC’s Fast Automated Securities Transfer or Deposit/Withdrawal at Custodian programs.

 

3.16            
Variable Rate Transactions; Dilutive Issuances. The Borrower (i) issues shares of Common Stock (or convertible securities
or Purchase Rights) pursuant to an equity line of credit of the Borrower or otherwise in connection with a Variable Rate Transaction (entered
into in the future) except for existing lines of credit or Variable Rate Transactions existing as of the date hereof; (ii) adjusts downward
the “floor price” at which shares of Common Stock (or convertible securities or Purchase Rights) may be issued under an equity
line of credit or otherwise in connection with a Variable Rate Transaction (or entered into in the future) except for existing lines of
credit or Variable Rate Transactions existing as of the date hereof; or (iii) a Dilutive Issuance is triggered as provided in this Note.

 

3.17             
Bid Price. Once the Borrower obtains a listing, the Borrower shall subsequently lose the “bid” price for its
Common Stock ($0.0001 on the “Ask” with zero market makers on the “Bid” per Level 2) or a market (including the
OTC Pink, OTCQB or an equivalent replacement marketplace or exchange).

 

3.18             
Inside Information. Any attempt by the Borrower or its officers, directors, and/or affiliates to intentionally transmit,
convey, disclose, or any actual transmittal, conveyance, or disclosure by the Borrower or its officers, directors, and/or affiliates of,
material non-public information concerning the Borrower, to the Holder or its successors and assigns, which is not immediately cured by
Borrower’s filing of a Form 8-K pursuant to Regulation FD on that same date

 

 

 

 

    	 	12	 

     

    

 

3.19             
Unavailability of Rule 144. If, at any time on or after the date which is six (6) months after the Issue Date, except due
to the Holder’s actions or inactions, the Holder is unable to (i) obtain a standard “144 legal opinion letter” from
an attorney reasonably acceptable to the Holder, the Holder’s brokerage firm (and respective clearing firm), and the Borrower’s
transfer agent in order to facilitate the Holder’s conversion of any portion of the Note into free trading shares of the Borrower’s
Common Stock pursuant to Rule 144; or (ii) thereupon deposit such shares into the Holder’s brokerage account.

 

3.20             
Suspension of Trading of Common Stock. If, at any time on or after the Borrower obtains a listing, the Borrower’s
Common Stock (i) is suspended from trading; or (ii) halted from trading.

 

3.21             
Failure
to Register. If the Borrower fails to meet its obligations under the Registration Rights Agreement entered into by the parties in
connection herewith.

 

3.22             
Rights
and Remedies Upon an Event of Default. Upon the occurrence and during the continuation of any Event of Default specified in this Article
III, this Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations
hereunder, an amount (the “Default Amount”) equal to the Principal Amount then outstanding plus accrued interest (including
any Default Interest) through the date of full repayment multiplied by one hundred twenty-five percent (125%). Holder may, in its sole
discretion, determine to accept payment in Common Stock or part in Common Stock and part in cash. For purposes of payments in Common Stock,
the conversion formula set forth in Section 1.2 shall apply. Upon an uncured Event of Default, all amounts payable hereunder shall immediately
become due and payable, all without demand, presentment or notice, all of which hereby are expressly waived by the Borrower, together
with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all
other rights and remedies available at law or in equity, including, without limitation.

 

ARTICLE IV. MISCELLANEOUS

 

4.1                
Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other
or further exercise thereof or of any other right, power or privileges. All rights and remedies of the Holder existing hereunder are cumulative
to, and not exclusive of, any rights or remedies otherwise available.

 

4.2                
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall
be in writing and, unless otherwise specified herein, shall be (i) personally served; (ii) deposited in the mail, registered or certified,
return receipt requested, postage prepaid; (iii) delivered by reputable air courier service with charges prepaid; or (iv) transmitted
by hand delivery, telegram, e-mail or facsimile, addressed as set forth below or to such other address as such party shall have specified
most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective
(a) upon hand delivery or delivery by e-mail or facsimile, with accurate confirmation generated by the transmitting facsimile machine,
at the address or number designated below (if delivered on a business day during normal business hours where such notice is to be received),
or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice
is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed
to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If to the Borrower, to:

 

DARKPULSE, INC.

1345 Avenue of the Americas, 2nd Floor

New York, New York 10105

Attention: Dennis O’Leary

e-mail: doleary@darkpulse.com

 

 

 

 

    	 	13	 

     

    

 

If to the Holder:

 

FIRSTFIRE GLOBAL OPPORTUNITIES FUND LLC

1040 First Avenue, Suite 190

New York, NY 10022

Attention: Eli Fireman

e-mail: eli@firstfirecapital.com

 

With a copy by e-mail only to (which copy shall not constitute
notice):

 

FABIAN VANCOTT

Attn: Anthony Michael Panek

e-mail: apanek@fabianvancott.com

 

4.3                
Amendments. This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and
the Holder. The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument as originally
executed, or if later amended or supplemented, then as so amended or supplemented.

 

4.4                
Assignability. This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit
of the Holder and its successors and assigns. Neither the Borrower nor the Holder shall assign this Note or any rights or obligations
hereunder without the prior written consent of the other. Notwithstanding the foregoing, the Holder may assign its rights hereunder to
any “accredited investor” (as defined in Rule 501(a) of the 1933 Act) in a private transaction from the Holder or to any of
its “affiliates”, as that term is defined under the 1934 Act, without the consent of the Borrower. Notwithstanding anything
in this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide margin account or other lending arrangement.
The Holder and any assignee, by acceptance of this Note, acknowledge and agree that following conversion of a portion of this Note, the
unpaid and unconverted principal amount of this Note represented by this Note may be less than the amount stated on the face hereof.

 

4.5                
Cost of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection,
including reasonable attorneys’ fees.

 

4.6                
Governing Law; Venue; Attorney’s Fees. This Note shall be governed by and construed in accordance with the laws of
the State of New York without regard to principles of conflicts of laws. Any action brought by either party against the other concerning
the transactions contemplated by this Note or any other agreement, certificate, instrument or document contemplated hereby shall be brought
only in the state courts located in the state of New York or federal courts located in the state of New York. The Borrower hereby irrevocably
waives any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction
or venue or based upon forum non conveniens. THE BORROWER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO
REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTIONS
CONTEMPLATED HEREBY. Each party hereby irrevocably waives personal service of process and consents to process being served in any
suit, action or proceeding in connection with this Note or any other agreement, certificate, instrument or document contemplated hereby
or thereby by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party
at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner
permitted by law. The prevailing party in any action or dispute brought in connection with this the Note or any other agreement, certificate,
instrument or document contemplated hereby or thereby shall be entitled to recover from the other party its reasonable attorney’s
fees and costs.

 

 

 

 

    	 	14	 

     

    

 

4.7                
Certain Amounts. Whenever pursuant to this Note the Borrower is required to pay an amount in excess of the outstanding Principal
Amount (or the portion thereof required to be paid at that time) plus accrued and unpaid interest plus Default Interest on such interest,
the Borrower and the Holder agree that the actual damages to the Holder from the receipt of cash payment on this Note may be difficult
to determine and the amount to be so paid by the Borrower represents stipulated damages and not a penalty and is intended to compensate
the Holder in part for loss of the opportunity to convert this Note and to earn a return from the sale of shares of Common Stock acquired
upon conversion of this Note at a price in excess of the price paid for such shares pursuant to this Note. The Borrower and the Holder
hereby agree that such amount of stipulated damages is not plainly disproportionate to the possible loss to the Holder from the receipt
of a cash payment without the opportunity to convert this Note into shares of Common Stock.

 

4.8                
Purchase Agreement. The Borrower and the Holder shall be bound by the applicable terms of the Purchase Agreement and the
documents entered into in connection herewith and therewith.

 

4.9                
Notice of Corporate Events. Except as otherwise provided below, the Holder of this Note shall have no rights as a Holder
of Common Stock unless and only to the extent that it converts this Note into Common Stock. The Borrower shall provide the Holder with
prior notification of any meeting of the Borrower’s shareholders (and copies of proxy materials and other information sent to shareholders).
In the event of any taking by the Borrower of a record of its shareholders for the purpose of determining shareholders who are entitled
to receive payment of any dividend or other distribution, any right to subscribe for, purchase or otherwise acquire (including by way
of merger, consolidation, reclassification or recapitalization) any share of any class or any other securities or property, or to receive
any other right, or for the purpose of determining shareholders who are entitled to vote in connection with any Change in Control or any
proposed liquidation, dissolution or winding up of the Borrower, the Borrower shall mail a notice to the Holder, at least twenty (20)
days prior to the record date specified therein (or thirty (30) days prior to the consummation of the transaction or event, whichever
is earlier), of the date on which any such record is to be taken for the purpose of such dividend, distribution, right or other event,
and a brief statement regarding the amount and character of such dividend, distribution, right or other event to the extent known at such
time. The Borrower shall make a public announcement of any event requiring notification to the Holder hereunder substantially simultaneously
with the notification to the Holder in accordance with the terms of this Section 4.9.

 

4.10                
Remedies. The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Holder, by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy
at law for a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by
the Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law or
in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any breach
of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss and without
any bond or other security being required.

 

4.11                
Construction; Headings. This Note shall be deemed to be jointly drafted by the Borrower and all the Holder and shall not
be construed against any person as the drafter hereof. The headings of this Note are for convenience of reference and shall not form part
of, or affect the interpretation of, this Note.

 

4.12                
Usury. To the extent it may lawfully do so, the Borrower hereby agrees not to insist upon or plead or in any manner whatsoever
claim, and will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at
any time hereafter in force, in connection with any action or proceeding that may be brought by the Holder in order to enforce any right
or remedy under this Note. Notwithstanding any provision to the contrary contained in this Note, it is expressly agreed and provided that
the total liability of the Borrower under this Note for payments which under the applicable law are in the nature of interest shall not
exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”), and, without limiting the foregoing,
in no event shall any rate of interest or default interest, or both of them, when aggregated with any other sums which under the applicable
law in the nature of interest that the Borrower may be obligated to pay under this Note exceed such Maximum Rate. It is agreed that if
the maximum contract rate of interest allowed by applicable law and applicable to this Note is increased or decreased by statute or any
official governmental action subsequent to the Issue Date, the new maximum contract rate of interest allowed by law will be the Maximum
Rate applicable to this Note from the effective date thereof forward, unless such application is precluded by applicable law. If under
any circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Borrower to the Holder with respect to indebtedness
evidenced by this the Note, such excess shall be applied by the Holder to the unpaid principal balance of any such indebtedness or be
refunded to the Borrower, the manner of handling such excess to be at the Holder’s election.

 

 

 

 

    	 	15	 

     

    

 

4.13                
Severability. In the event that any provision of this Note is invalid or unenforceable under any applicable statute or rule
of law (including any judicial ruling), then such provision shall be deemed inoperative to the extent that it may conflict therewith and
shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under
any law shall not affect the validity or enforceability of any other provision of this Note.

 

4.14                
Terms of Future Financings. So long as this Note is outstanding, upon any issuance by the Borrower or any of its subsidiaries
of any convertible debt or convertible preferred stock, with any term that the Holder reasonably believes is more favorable to the holder
of such security or with a term in favor of the holder of such security that the Holder reasonably believes was not similarly provided
to the Holder in this Note, then (i) the Borrower shall notify the Holder of such additional or more favorable term within one (1) business
day of the issuance and/or amendment (as applicable) of the respective security, and (ii) such term, at Holder’s option, shall become
a part of the transaction documents with the Holder (regardless of whether the Borrower complied with the notification provision of this
Section 4.14). The types of terms contained in another security that may be more favorable to the holder of such security include, but
are not limited to, terms addressing conversion discounts, prepayment rate, conversion lookback periods, interest rates, and original
issue discounts. If Holder elects to have the term become a part of the transaction documents with the Holder, then the Borrower shall
immediately deliver acknowledgment of such adjustment in form and substance reasonably satisfactory to the Holder (the “Acknowledgment”)
within one (1) business day of Borrower’s receipt of request from Holder (the “Adjustment Deadline”), provided that
Borrower’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. Nor shall
this section apply to any adjustments made to any of the Borrower’s securities issued prior to the date hereof.

 

4.15                
Dispute Resolution. In the case of a dispute as to the determination of the Conversion Price, Conversion Amount, any prepayment
amount or Default Amount, Issue, Closing or Maturity Date, the closing bid price, or fair market value (as the case may be) or the arithmetic
calculation of the Conversion Price or the applicable prepayment amount(s) (as the case may be), the Borrower or the Holder shall submit
the disputed determinations or arithmetic calculations via facsimile (i) within one (1) Trading Day after receipt of the applicable notice
giving rise to such dispute to the Borrower or the Holder or (ii) if no notice gave rise to such dispute, at any time after the Holder
learned of the circumstances giving rise to such dispute. If the Holder and the Borrower are unable to agree upon such determination or
calculation within five (5) Trading Days of such disputed determination or arithmetic calculation (as the case may be) being submitted
to the Borrower or the Holder, then the Borrower shall, within three (3) Trading Days, submit (a) the disputed determination of the Conversion
Price, the closing bid price, the or fair market value (as the case may be) to an independent, reputable investment bank selected by the
Borrower and approved by the Holder or (b) the disputed arithmetic calculation of the Conversion Price, Conversion Amount, any prepayment
amount or Default Amount, to an independent, outside accountant selected by the Holder that is reasonably acceptable to the Borrower.
The Borrower shall cause at its expense the investment bank or the accountant to perform the determinations or calculations and notify
the Borrower and the Holder of the results no later than one (1) Trading Day from the time it receives such disputed determinations or
calculations. Such investment bank’s or accountant’s determination or calculation shall be binding upon all parties absent
demonstrable error.

 

 

 

 

 

 

 

 

 

 

 

    	 	16	 

     

    

 

IN WITNESS WHEREOF, Borrower
has caused this Note to be signed in its name by its duly authorized officer on April 26, 2021.

 

DARKPULSE, INC.

 

 

	By: /s/ Dennis O’Leary                
	Name: Dennis O’Leary
	Title: Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	17	 

     

    

 

EXHIBIT A -- NOTICE OF CONVERSION

 

The undersigned
hereby elects to convert $                         principal amount of the Note (defined below) into that number of shares of Common Stock to be issued
pursuant to the conversion of the Note (“Common Stock”) as set forth below, of DARKPULSE, INC., a Delaware corporation
(the “Borrower”), according to the conditions of the Convertible Promissory Note of the Borrower dated as of April 26, 2021
(the “Note”), as of the date written below. No fee will be charged to the Holder for any conversion, except for transfer taxes,
if any.

 

Box Checked as to applicable instructions:

 

	☐	The Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the undersigned or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”).

                                                                      

	 	Name of DTC Prime Broker:
	 	Account Number:

 

	☐	The undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock set forth below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately below or, if additional space is necessary, on an attachment hereto:
	 	 
	 	
    FIRSTFIRE GLOBAL OPPORTUNITIES FUND LLC

    1040 First Avenue, Suite 190 New York, NY 10022

    Attn: Eli Fireman

    e-mail: eli@firstfirecapital.com

 

	 	Date of Conversion:	 	 	 
	 	 	 	 	 
	 	Applicable Conversion Price:	$		 
	 	 	 	 	 
	 	
    Costs
Incurred by the Undersigned to Convert the Note into Shares of Common Stock:
	$	      	 
	 	 	 	 	 
	 	
    Number
of Shares of Common Stock to be Issued Pursuant to Conversion of the Note:
	 	
     

     
	 
	 	 	 	 	 
	 	
    Amount
of Principal Balance Due remaining Under the Note after this conversion:
	 	
     
	 

 

	By:                                                             
	Name:
	Title:
	Date:

 

 

 

 

 

 

 

    	 	18Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES
PURCHASE AGREEMENT (the “Agreement”), dated as of April 26, 2021, by and between DARKPULSE, INC., a Delaware corporation,
with headquarters located at 1345 Avenue of the Americas, 2nd Floor, New York, New York 10105 (the “Company”),
and FIRSTFIRE GLOBAL OPPORTUNITIES FUND, LLC, a Delaware limited liability company, with its address at 1040 First Avenue, Suite
190, New York, NY 10022 (the “Buyer”).

 

WHEREAS:

 

A. 
The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”) and Rule 506(b) promulgated by the
United States Securities and Exchange Commission (the “SEC”) under the 1933 Act;

 

B.  
Buyer desires to purchase from the Company, and the Company desires to issue and sell to the Buyer, upon the terms and conditions
set forth in this Agreement, a Convertible Promissory Note of the Company, in the aggregate principal amount of $825,000.00 (as the principal
amount thereof may be increased pursuant to the terms thereof, and together with any note(s) issued in replacement thereof or as a dividend
thereon or otherwise with respect thereto in accordance with the terms thereof, in the form attached hereto as Exhibit A (the “Note”),
convertible into shares of common stock of the Company (the “Common Stock”), upon the terms and subject to the limitations
and conditions set forth in such Note; and

 

C.  
Company desires to issue to the Buyer, upon the terms and conditions set forth in this Agreement, seventy-five million (75,000,000)
shares of common stock (“Commitment Shares”) upon the terms and subject to the limitations and conditions set forth herein;

 

NOW THEREFORE,
in consideration of the foregoing and of the agreements and covenants herein contained, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Company and the Buyer hereby agree as follows:

 

 1.    Purchase and Sale of Note and Commitment Shares.

 

a.        
Purchase of Note and Commitment Shares. On the Closing Date (as defined below), the Company
shall issue and sell to the Buyer and the Buyer agrees to purchase from the Company the Note and the Commitment Shares, subject to the
express terms of the Note, and this Agreement as the case may be.

 

b.       
Form of Payment. On the Closing Date, the Buyer shall pay the purchase price of $750,000.00
(the “Purchase Price”) for the Note, by wire transfer of immediately available funds, in accordance with the Company’s
written wiring instructions, against delivery of the Note and the Commitment Shares, and the Company shall deliver such duly executed
Note and Commitment Shares on behalf of the Company, to the Buyer. 

 

c.        
Closing Date. Subject to the satisfaction (or written waiver) of the conditions thereto set
forth in Section 6 and Section 7 below, the date and time of the issuance and sale of the Note and Commitment Shares pursuant to this
Agreement (the “Closing Date”) shall be 4:00 PM, Eastern Time on the date first written above, or such other mutually agreed
upon time.

 

d.        
Closing. The closing of the transactions contemplated by this Agreement (the “Closing”)
shall occur on the Closing Date at such location as may be agreed to by the parties (including via exchange of electronic signatures).

 

 

 

 

    	 	1	 

     

    

 

2.   
Buyer’s Representations and Warranties. The Buyer represents and warrants to the Company
as of the Closing Date that:

 

a.        
Investment Purpose. As of the Closing Date, the Buyer is purchasing the Note and Commitment
Shares and the shares of Common Stock issuable upon conversion the Note and such additional shares of Common Stock, if any, as are issuable
on account of interest on the Note pursuant to this Agreement, such shares of Common Stock being collectively referred to herein as the
“Conversion Shares” and, collectively with the Note and Commitment Shares, the “Securities”) for its own account
and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration
under the 1933 Act; provided, however, that by making the representations herein, the Buyer does not agree to hold any of
the Securities for any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance with
or pursuant to a registration statement or an exemption under the 1933 Act.

 

b.        
Accredited Investor Status. The Buyer is an “accredited investor” as that term
is defined in Rule 501(a) of Regulation D (an “Accredited Investor”).

 

c.        
Reliance on Exemptions. The Buyer understands that the Securities are being offered and sold
to it in reliance upon specific exemptions from the registration requirements of United States federal and state securities laws and that
the Company is relying upon the truth and accuracy of, and the Buyer’s compliance with, the representations, warranties, agreements,
acknowledgments, and understandings of the Buyer set forth herein in order to determine the availability of such exemptions and the eligibility
of the Buyer to acquire the Securities.

 

d.        
Information. The Buyer and its advisors, if any, have been, and for so long as any of the
Securities remain outstanding will continue to be, furnished with all materials relating to the business, finances, and operations of
the Company and materials relating to the offer and sale of the Securities which have been requested by the Buyer or its advisors. The
Buyer and its advisors, if any, have been, and for so long as the Note or Commitment Shares remains outstanding will continue to be, afforded
the opportunity to ask questions of the Company regarding its business and affairs. Notwithstanding the foregoing, the Company has not
disclosed to the Buyer any material non-public information regarding the Company or otherwise, and will not disclose such information
unless such information is disclosed to the public prior to or promptly following such disclosure to the Buyer. Neither such inquiries
nor any other due diligence investigation conducted by Buyer or any of its advisors or representatives shall modify, amend or affect Buyer’s
right to rely on the Company’s representations and warranties contained in Section 3 below.

 

e.        
Governmental Review. The Buyer understands that no United States federal or state agency or
any other government or governmental agency has passed upon or made any recommendation or endorsement of the Securities.

 

f.         
Transfer or Resale. The Buyer understands that (i) the sale or resale of the Securities have
not been, and as of the Issue Date, are currently not being registered under the 1933 Act or any applicable state securities laws, and
the Securities may not be transferred unless (a) the Securities are sold pursuant to an effective registration statement under the 1933
Act; (b) the Buyer shall have delivered to the Company, at the cost of the Company, an opinion of counsel (which may be the Legal Counsel
Opinion (as defined below)) that shall be in form, substance, and scope customary for opinions of counsel in comparable transactions to
the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration, which
opinion shall be accepted by the Company; (c) the Securities are sold or transferred to an “affiliate” (as defined in Rule
144 promulgated under the 1933 Act (or a successor rule) (“Rule 144”)) of the Buyer who agrees to sell or otherwise transfer
the Securities only in accordance with this Section 2(f) and who is an Accredited Investor; (d) the Securities are sold pursuant to Rule
144 or other applicable exemption; or (e) the Securities are sold pursuant to Regulation S under the 1933 Act (or a successor rule) (“Regulation
S”), and the Buyer shall have delivered to the Company, at the cost of the Company, an opinion of counsel that shall be in form,
substance and scope customary for opinions of counsel in corporate transactions, which opinion shall be accepted by the Company; (ii)
any sale of such Securities made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said
Rule is not applicable, any resale of such Securities under circumstances in which the seller (or the person through whom the sale is
made) may be deemed to be an underwriter (as that term is defined in the 1933 Act) may require compliance with some other exemption under
the 1933 Act or the rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other person is under any obligation
to register such Securities under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption
thereunder (in each case). Any registration rights shall be further set out in the Registration Rights Agreement entered into herewith.

 

 

 

 

    	 	2	 

     

    

 

g.        
Legends. The Buyer understands that until such time as the Commitment Shares, the Note, and,
upon conversion of the Note in accordance with its respective terms, the Conversion Shares, have been registered under the 1933 Act or
may be sold pursuant to Rule 144 under the 1933 Act or other applicable exemption without any restriction as to the number of securities
as of a particular date that can then be immediately sold, the Securities may bear a restrictive legend in substantially the following
form (and a stop-transfer order may be placed against transfer of the certificates for such Securities):

 

“NEITHER THE ISSUANCE
AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES MAY BE CONVERTIBLE HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT
REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR OTHER APPLICABLE EXEMPTION UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
BY THE SECURITIES.”

 

The legend
set forth above shall be removed and the Company shall issue a certificate for the applicable shares of Common Stock without such legend
to the holder of any Security upon which it is stamped or (as requested by such holder) issue the applicable shares of Common Stock to
such holder by electronic delivery by crediting the account of such holder’s broker with The Depository Trust Company (“DTC”),
if, unless otherwise required by applicable state securities laws, (a) such Security is registered for sale under an effective registration
statement filed under the 1933 Act or otherwise may be sold pursuant to Rule 144 or other applicable exemption without any restriction
as to the number of securities as of a particular date that can then be immediately sold; or (b) the Company or the Buyer provides the
Legal Counsel Opinion (as contemplated by and in accordance with Section 4(k) hereof) to the effect that a public sale or transfer of
such Security may be made without registration under the 1933 Act, which opinion shall be accepted by the Company so that the sale or
transfer is effected. The Company shall be responsible for the fees of its transfer agent and all DTC fees associated with any such issuance.
The Buyer agrees to sell all Securities, including those represented by a certificate(s) from which the legend has been removed, in compliance
with applicable prospectus delivery requirements, if any.

 

h.        
Authorization; Enforcement. This Agreement has been duly and validly authorized by the Buyer
and has been duly executed and delivered on behalf of the Buyer, and this Agreement constitutes a valid and binding agreement of the Buyer
enforceable in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or
other similar laws affecting creditors’ rights generally and except as may be limited by the exercise of judicial discretion in
applying principles of equity.

 

i.         
Manipulation of Price. The Buyer has not, and to its knowledge no one acting on its behalf
has: (i) taken, directly or indirectly, any action designed to cause or to result, or that could reasonably be expected to cause or result,
in the stabilization or manipulation of the price of any security of the Company; (ii) bid for, purchased, or paid any compensation for
soliciting purchases of, any Stock in the open market; or (iii) paid or agreed to pay to any person any compensation for soliciting another
to purchase any other securities of the Company.

 

j.         
No Shorting. Buyer and its affiliates shall be prohibited from engaging directly or indirectly
in any short selling or hedging transactions with respect to any securities of the Company while this Note is outstanding.

 

3.    
Representations and Warranties of the Company. The Company represents and warrants to the
Buyer as of the Closing Date that:

 

a.        
Organization and Qualification. The Company and each of its Subsidiaries, not including any
subsidiaries with respect to which lack of good standing or valid existence would not have a Material Adverse Effect on the Company and
its Subsidiaries (as defined below), if any, is a corporation duly organized, validly existing and in good standing under the laws of
the jurisdiction in which it is incorporated, with full power and authority (corporate and other) to own, lease, use and operate its properties
and to carry on its business as and where now owned, leased, used, operated and conducted. Schedule 3(a), if attached hereto, sets forth
a list of all of the Subsidiaries of the Company and the jurisdiction in which each is incorporated. The Company and each of its Subsidiaries
is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in which its ownership or use
of property or the nature of the business conducted by it makes such qualification necessary except where the failure to be so qualified
or in good standing would not have a Material Adverse Effect. “Material Adverse Effect” means any material adverse effect
on the business, operations, assets, financial condition or prospects of the Company or its Subsidiaries, if any, taken as a whole, or
on the transactions contemplated hereby or by the agreements or instruments to be entered into in connection herewith. “Subsidiaries”
means any corporation or other organization, whether incorporated or unincorporated, in which the Company owns, directly or indirectly,
any equity or other ownership interest greater than fifty percent (50%).

 

 

 

 

    	 	3	 

     

    

 

b.        
Authorization; Enforcement. (i) The Company has all requisite corporate power and authority
to enter into and perform this Agreement, the Note, and to consummate the transactions contemplated hereby and thereby and to issue the
Securities, in accordance with the terms hereof and thereof; (ii) the execution and delivery of this Agreement, the Note and the Commitment
Shares by the Company and the consummation by it of the transactions contemplated hereby and thereby (including without limitation, the
issuance of the Note and Commitment Shares, as well as the issuance and reservation for issuance of the Conversion Shares issuable upon
conversion of the Note) have been duly authorized by the Company’s Board of Directors and no further consent or authorization of
the Company, its Board of Directors, its shareholders, or its debt holders is required; (iii) this Agreement, the Note, and the Commitment
Shares (together with any other instruments executed in connection herewith or therewith) have been duly executed and delivered by the
Company by its authorized representative, and such authorized representative is the true and official representative with authority to
sign this Agreement, the Note, and issue the Commitment Shares and the other instruments documents executed in connection herewith or
therewith and bind the Company accordingly; and (iv) this Agreement constitutes, and upon execution and delivery by the Company of the
Note and the Commitment Shares, each of such instruments will constitute, a legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with their terms.

 

c.        
Capitalization; Governing Documents. As of February 16, 2021, the authorized capital stock
of the Company consists of: 20,000,000,000 authorized shares of Common Stock, of which 4,469,762,151 shares were issued and outstanding.
All of such outstanding shares of capital stock of the Company and the Conversion Shares, are, or upon issuance will be, duly authorized,
validly issued, fully paid, and non-assessable. No shares of capital stock of the Company are subject to preemptive rights or any other
similar rights of the shareholders of the Company or any liens or encumbrances imposed through the actions or failure to act of the Company
other than those shares that are reserved for issuance upon conversion this Note, upon its issuance, or other similar convertible notes,
or warrants or options as may be appropriate or with respect to equity or option plans and those that may relate to rights of participation
or rights to adjust terms to more favorable terms. As of the effective date of this Agreement, other than as publicly announced prior
to such date and reflected in the SEC Documents (as defined in this Agreement) of the Company (i) there are no outstanding options, warrants,
scrip, rights to subscribe for, puts, calls, rights of first refusal, agreements, understandings, claims or other commitments or rights
of any character whatsoever relating to, or securities or rights convertible into or exchangeable for any shares of capital stock of the
Company or any of its Subsidiaries, or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional
shares of capital stock of the Company or any of its Subsidiaries; (ii) there are no agreements or arrangements under which the Company
or any of its Subsidiaries is obligated to register the sale of any of its or their securities under the 1933 Act; and (iii) there are
no anti-dilution or price adjustment provisions contained in any security issued by the Company (or in any agreement providing rights
to security holders) that will be triggered by the issuance of any of the Securities. The Company has furnished to the Buyer true and
correct copies of the Company’s Certificate of Incorporation as in effect on the date hereof (“Certificate of Incorporation”),
the Company’s Bylaws, as in effect on the date hereof (the “Bylaws”), and the terms of all securities convertible into
or exercisable for Common Stock of the Company and the material rights of the holders thereof in respect thereto.

 

d.        
Issuance of Conversion Shares. The Conversion Shares are duly authorized and reserved for
issuance and, upon conversion of the Note in accordance with its terms, will be validly issued, fully paid and non- assessable, and free
from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other
similar rights of shareholders of the Company and will not impose personal liability upon the holder thereof.

 

e.         
No Broker-Dealer Acknowledgement.
Absent a final adjudication from a court of competent jurisdiction stating otherwise, so long as any amount on the Note remains outstanding,
the Company shall not to any person, institution, governmental or other entity, state, claim, allege, or in any way assert, that Holder
is currently, or ever has been a broker-dealer under the Securities Exchange Act of 1934. 

 

f.         
Acknowledgment of Dilution. The Company understands and acknowledges the potentially dilutive
effect of the Conversion Shares to the Common Stock upon the conversion of the Note. The Company further acknowledges that its obligation
to issue, upon conversion of the Note, the Conversion Shares, in accordance with this Agreement, the Note, and issue the Commitment Shares
are absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership interests of other shareholders
of the Company.

 

 

 

 

    	 	4	 

     

    

 

g.        
Ranking; No Conflicts. The execution, delivery and performance of this Agreement, the Note,
and the issuance of the Commitment Shares by the Company and the consummation by the Company of the transactions contemplated hereby and
thereby (including, without limitation, the issuance and reservation for issuance of the Conversion Shares) will not (i) conflict with
or result in a violation of any provision of the Certificate of Incorporation or Bylaws; or (ii) violate or conflict with, or result in
a breach of any provision of, or constitute a default (or an event which with notice or lapse of time or both could become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, note, evidence of indebtedness,
indenture, patent, patent license or instrument to which the Company or any of its Subsidiaries is a party; or (iii) result in a violation
of any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and regulations of
any self-regulatory organizations to which the Company or its securities is subject) applicable to the Company or any of its Subsidiaries
or by which any property or asset of the Company or any of its Subsidiaries is bound or affected (except for such conflicts, defaults,
terminations, amendments, accelerations, cancellations and violations as would not, individually or in the aggregate, have a Material
Adverse Effect); or (iv) trigger any anti-dilution or ratchet provision contained in any other contract in which the Company is a party
thereto or any security issued by the Company. Neither the Company nor any of its Subsidiaries is in violation of its Certificate of Incorporation,
Bylaws or other organizational documents and neither the Company nor any of its Subsidiaries is in default (and no event has occurred
which with notice or lapse of time or both could put the Company or any of its Subsidiaries in default) under, and neither the Company
nor any of its Subsidiaries has taken any action or failed to take any action that would give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its Subsidiaries is a party or
by which any property or assets of the Company or any of its Subsidiaries is bound or affected, except for possible defaults as would
not, individually or in the aggregate, have a Material Adverse Effect. The businesses of the Company and its Subsidiaries, if any, are
not being conducted, and shall not be conducted so long as the Buyer owns any of the Securities, in violation of any law, ordinance or
regulation of any governmental entity. Except as specifically contemplated by this Agreement and as required under the 1933 Act and any
applicable state securities laws, the Company is not required to obtain any consent, authorization or order of, or make any filing or
registration with, any court, governmental agency, regulatory agency, self-regulatory organization or stock market or any third party
in order for it to execute, deliver or perform any of its obligations under this Agreement and the Note in accordance with the terms hereof
or thereof or to issue and sell the Note in accordance with the terms hereof and, upon conversion of the Note, issue Conversion Shares.
All consents, authorizations, orders, filings and registrations which the Company is required to obtain pursuant to the preceding sentence
have been obtained or effected on or prior to the date hereof. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

h.        
SEC Documents; Financial Statements. The Company has timely filed all reports, schedules,
forms, statements and other documents required to be filed by it with the SEC pursuant to the reporting requirements of the Securities
Exchange Act of 1934, as amended (the “1934 Act”) (all of the foregoing filed prior to the date hereof and all exhibits included
therein and financial statements and schedules thereto and documents (other than exhibits to such documents) incorporated by reference
therein, being hereinafter referred to herein as the “SEC Documents”). As of their respective dates, the SEC Documents complied
in all material respects with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated thereunder applicable
to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue statement of a material
fact or omitted 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. None of the statements made in any such SEC Documents is, or has been,
required to be amended or updated under applicable law (except for such statements as have been amended or updated in subsequent filings
on or prior the date hereof). As of their respective dates, the financial statements of the Company included in the SEC Documents complied
as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect
thereto. Such financial statements have been prepared in accordance with United States generally accepted accounting principles, consistently
applied, during the periods involved and fairly present in all material respects the consolidated financial position of the Company and
its consolidated Subsidiaries as of the dates thereof and the consolidated results of their operations and cash flows for the periods
then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). Except as set forth in SEC Documents
or the financial statements of the Company included in the SEC Documents, the Company has no liabilities, contingent or otherwise, other
than (i) liabilities incurred in the ordinary course of business subsequent to September 30, 2020, and (ii) obligations under contracts
and commitments incurred in the ordinary course of business and not required under generally accepted accounting principles to be reflected
in such financial statements, which, individually or in the aggregate, are not material to the financial condition or operating results
of the Company. The Company is subject to the reporting requirements of the 1934 Act. The Company has never been a “shell company”
as described in Rule 144(i)(1)(i).

 

 

 

 

    	 	5	 

     

    

 

i.         
Absence of Certain Changes. Since September 30, 2020, there has been no material adverse change
and no material adverse development in the assets, liabilities, business, properties, operations, financial condition, results of operations,
prospects or 1934 Act reporting status of the Company or any of its Subsidiaries.

 

j.         
Absence of Litigation. Other than as disclosed in the SEC Documents, there is no action, suit,
claim, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body
pending or, to the knowledge of the Company or any of its Subsidiaries, threatened against or affecting the Company or any of its Subsidiaries,
or their officers or directors in their capacity as such, that could have a Material Adverse Effect. The SEC Documents contain a complete
list and summary description of any material pending or, to the knowledge of the Company, threatened proceeding against or affecting the
Company or any of its Subsidiaries. The Company and its Subsidiaries are unaware of any facts or circumstances which might give rise to
any of the foregoing. Notwithstanding the foregoing, the Buyer acknowledges the existence of all litigations disclosed and outstanding
the SEC Documents.

 

k.        
Intellectual Property. The Company and each of its Subsidiaries owns or possesses the requisite
licenses or rights to use all patents, patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark
applications, service marks, service names, trade names and copyrights (“Intellectual Property”) necessary to enable it to
conduct its business as now operated (and, as presently contemplated to be operated in the future); there is no claim or action by any
person pertaining to, or proceeding pending, or to the Company’s knowledge threatened, which challenges the right of the Company
or of a Subsidiary with respect to any Intellectual Property necessary to enable it to conduct its business as now operated (and, as presently
contemplated to be operated in the future); to the best of the Company’s knowledge, the Company’s or its Subsidiaries’
current and intended products, services and processes do not infringe on any Intellectual Property or other rights held by any person;
and the Company is unaware of any facts or circumstances which might give rise to any of the foregoing. The Company and each of its Subsidiaries
have taken reasonable security measures to protect the secrecy, confidentiality and value of their Intellectual Property.

 

l.         
No Materially Adverse Contracts, Etc. Neither the Company, nor any of its Subsidiaries, is
subject to any charter, corporate or other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment
of the Company’s officers has or is expected in the future to have a Material Adverse Effect. Neither the Company, nor any of its
Subsidiaries, is a party to any contract or agreement which in the judgment of the Company’s officers has or is expected to have
a Material Adverse Effect.

 

m.      
Tax Status. The Company and each of its Subsidiaries has made or filed all federal, state
and foreign income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and
only to the extent that the Company and each of its Subsidiaries has set aside on its books provisions reasonably adequate for the payment
of all unpaid and unreported taxes) and has paid all taxes and other governmental assessments and charges that are material in amount,
shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and has set aside
on its books provisions reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns,
reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction,
and the officers of the Company know of no basis for any such claim. The Company has not executed a waiver with respect to the statute
of limitations relating to the assessment or collection of any foreign, federal, state or local tax. None of the Company’s tax returns
is presently being audited by any taxing authority.

 

n.        
Transactions with Affiliates. Except as disclosed in SEC filings and except for arm’s
length transactions pursuant to which the Company or any of its Subsidiaries makes payments in the ordinary course of business upon terms
no less favorable than the Company or any of its Subsidiaries could obtain from third parties and other than the grant of stock options
described in the SEC Documents, none of the officers, directors, or employees of the Company is presently a party to any transaction with
the Company or any of its Subsidiaries (other than for services as employees, officers and directors), including any contract, agreement
or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from,
or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any corporation,
partnership, trust or other entity in which any officer, director, or any such employee has a substantial interest or is an officer, director,
trustee or partner.

 

 

 

 

    	 	6	 

     

    

 

o.        
Disclosure. All information relating to or concerning the Company or any of its Subsidiaries
set forth in this Agreement and provided to the Buyer pursuant to Section 2(d) hereof and otherwise in connection with the transactions
contemplated hereby is true and correct in all material respects and the Company has not omitted to state any material fact necessary
in order to make the statements made herein or therein, in light of the circumstances under which they were made, not misleading. No event
or circumstance has occurred or exists with respect to the Company or any of its Subsidiaries or its or their business, properties, prospects,
operations or financial conditions, which, under applicable law, rule or regulation, requires public disclosure or announcement by the
Company but which has not been so publicly announced or disclosed (assuming for this purpose that the Company’s reports filed under
the 1934 Act are being included in, or to the extent appropriate and permitted, incorporated into an effective registration statement
filed by the Company under the 1933 Act).

 

p.        
Acknowledgment Regarding Buyer’s Purchase of Securities. The Company acknowledges and
agrees that the Buyer is acting solely in the capacity of arm’s length purchaser with respect to this Agreement and the transactions
contemplated hereby. The Company further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company
(or in any similar capacity) with respect to this Agreement and the transactions contemplated hereby and any statement made by the Buyer
or any of its respective representatives or agents in connection with this Agreement and the transactions contemplated hereby is not advice
or a recommendation and is merely incidental to the Buyer’s purchase of the Securities. The Company further represents to the Buyer
that the Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the Company and
its representatives.

 

q.        
 [RESERVED]

 

r.         
No Brokers. Other than the use of JH Darbie and Co., the Company has taken no action which
would give rise to any claim by any person for brokerage commissions, transaction fees or similar payments relating to this Agreement
or the transactions contemplated hereby.

 

s.         
Permits; Compliance. The Company and each of its Subsidiaries is in possession of all franchises,
grants, authorizations, licenses, permits, easements, variances, exemptions, consents, certificates, approvals and orders necessary to
own, lease and operate its properties and to carry on its business as it is now being conducted (collectively, the “Company Permits”),
and there is no action pending or, to the knowledge of the Company, threatened regarding suspension or cancellation of any of the Company
Permits. Neither the Company nor any of its Subsidiaries is in conflict with, or in default or violation of, any of the Company Permits,
except for any such conflicts, defaults or violations which, individually or in the aggregate, would not reasonably be expected to have
a Material Adverse Effect. Since September 30, 2020, neither the Company nor any of its Subsidiaries has received any notification with
respect to possible conflicts, defaults or violations of applicable laws, except for notices relating to possible conflicts, defaults
or violations, which conflicts, defaults or violations would not have a Material Adverse Effect.

 

 t.           Environmental Matters.

 

(i) 
There are, to the Company’s knowledge, with respect to the Company or any of its Subsidiaries or any predecessor of the Company,
no past or present violations of Environmental Laws (as defined below), releases of any material into the environment, actions, activities,
circumstances, conditions, events, incidents, or contractual obligations which may give rise to any common law environmental liability
or any liability under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 or similar federal, state, local
or foreign laws and neither the Company nor any of its Subsidiaries has received any notice with respect to any of the foregoing, nor
is any action pending or, to the Company’s knowledge, threatened in connection with any of the foregoing. The term ”Environmental
Laws” means all federal, state, local or foreign laws relating to pollution or protection of human health or the environment (including,
without limitation, ambient air, surface water, groundwater, land surface or subsurface strata), including, without limitation, laws relating
to emissions, discharges, releases or threatened releases of chemicals, pollutants contaminants, or toxic or hazardous substances or wastes
(collectively, “Hazardous Materials”) into the environment, or otherwise relating to the manufacture, processing, distribution,
use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands
or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations issued, entered,
promulgated or approved thereunder.

 

 

 

    	 	7	 

     

    

 

(ii)  
Other than those that are or were stored, used or disposed of in compliance with applicable law, no Hazardous Materials are contained
on or about any real property currently owned, leased or used by the Company or any of its Subsidiaries, and no Hazardous Materials were
released on or about any real property previously owned, leased or used by the Company or any of its Subsidiaries during the period the
property was owned, leased or used by the Company or any of its Subsidiaries, except in the normal course of the Company’s or any
of its Subsidiaries’ business.

 

(iii) 
There are no underground storage tanks on or under any real property owned, leased or used by the Company or any of its Subsidiaries
that are not in compliance with applicable law.

 

u.       
Title to Property. The Company and its Subsidiaries have good and marketable title in fee
simple to all real property and good and marketable title to all personal property owned by them which is material to the business of
the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as are described in Schedule
3(u), if attached hereto, or such as would not have a Material Adverse Effect. Any real property and facilities held under lease by the
Company and its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as would not have a
Material Adverse Effect.

 

v.        
Insurance. The Company and each of its Subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as management of the Company believes to be prudent and customary
in the businesses in which the Company and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has any reason to
believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage
from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. Upon written
request the Company will provide to the Buyer true and correct copies of all policies relating to directors’ and officers’
liability coverage, errors and omissions coverage, and commercial general liability coverage.

 

w.      
Internal Accounting Controls. The Company and each of its Subsidiaries maintain a system of
internal accounting controls sufficient, in the judgment of the Company’s board of directors, to provide reasonable assurance that
(i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded
as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain
asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization;
and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is
taken with respect to any differences.

 

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

 

y.        
[RESERVED]

 

z.        
No Investment Company. The Company is not, and upon the issuance and sale of the Securities
as contemplated by this Agreement will not be an “investment company” required to be registered under the Investment Company
Act of 1940 (an “Investment Company”). The Company is not controlled by an Investment Company.

 

aa.        No
Off-Balance Sheet Arrangements. There is no transaction, arrangement, or other relationship between the Company or any of its
Subsidiaries and an unconsolidated or other off-balance sheet entity that is required to be disclosed by the Company in its 1934 Act
filings and is not so disclosed or that otherwise could be reasonably likely to have a Material Adverse Effect.

 

 

 

 

    	 	8	 

     

    

 

bb.        No
Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive officer,
other officer of the Company participating in the offering hereunder, any beneficial owner of twenty percent (20%) or more of the
Company’s outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is
defined in Rule 405 under the 1933 Act) connected with the Company in any capacity at the time of sale (each, an “Issuer
Covered Person”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to (viii)
under the 1933 Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or
(d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification
Event.

 

cc.        Manipulation
of Price. The Company has not, and to its knowledge no one acting on its behalf has: (i) taken, directly or indirectly, any
action designed to cause or to result, or that could reasonably be expected to cause or result, in the stabilization or manipulation
of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for,
purchased, or paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any person
any compensation for soliciting another to purchase any other securities of the Company. Notwithstanding the foregoing, the Company
has engaged, in ordinary course of business, in investor relations activities and has engaged one or more companies to assist in
such activities.

 

dd.        Bank
Holding Company Act. Neither the Company nor any of its Subsidiaries is subject to the Bank Holding Company Act of 1956, as
amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal
Reserve”). Neither the Company nor any of its Subsidiaries or affiliates owns or controls, directly or indirectly, five
percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%) or more of the total
equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company nor any of
its Subsidiaries or affiliates exercises a controlling influence over the management or policies of a bank or any entity that is
subject to the BHCA and to regulation by the Federal Reserve.

 

ee.        Illegal
or Unauthorized Payments; Political Contributions. Neither the Company nor any of its Subsidiaries nor, to the Company’s
knowledge, any of the officers, directors, employees, agents or other representatives of the Company or any of its Subsidiaries or
any other business entity or enterprise with which the Company or any Subsidiary is or has been affiliated or associated, has,
directly or indirectly, made or authorized any payment, contribution or gift of money, property, or services, whether or not in
contravention of applicable law, (i) as a kickback or bribe to any person; or (ii) to any political organization, or the holder of
or any aspirant to any elective or appointive public office except for personal political contributions not involving the direct or
indirect use of funds of the Company or any of its Subsidiaries.

 

ff.        Breach
of Representations by the Company. The Company agrees that if the Company breaches any of the representations set forth in this
Section 3 or the Note, that would have a Material Adverse Effect, in addition to any other remedies available to the Buyer pursuant
to this Agreement, it will be considered an Event of Default under Section 3 of the Note.

 

 4.    ADDITIONAL COVENANTS, AGREEMENTS AND ACKNOWLEDGEMENTS.

 

a.        
Best Efforts. The parties shall use their reasonable best efforts to satisfy timely each of
the conditions described in Section 6 and 7 of this Agreement.

 

b.        
Use of Proceeds. The Company shall use the proceeds for the repayment of any indebtedness,
not including, however, any indebtedness owed to officers, directors or employees of the Company or their affiliates or in violation or
contravention of any applicable law, rule or regulation. Any excess proceeds shall be used for general working capital.

 

 

 

 

    	 	9	 

     

    

 

c.        
Usury. To the extent it may lawfully do so, the Company hereby agrees not to insist upon or
plead or in any manner whatsoever claim, and will resist any and all efforts to be compelled to take the benefit or advantage of, usury
laws wherever enacted, now or at any time hereafter in force, in connection with any action or proceeding that may be brought by the Buyer
in order to enforce any right or remedy under this Agreement, the Note and any document, agreement or instrument contemplated thereby.
Notwithstanding any provision to the contrary contained in this Agreement, the Note and any document, agreement or instrument contemplated
thereby, it is expressly agreed and provided that the total liability of the Company under this Agreement, the Note or any document, agreement
or instrument contemplated thereby for payments which under applicable law are in the nature of interest shall not exceed the maximum
lawful rate authorized under applicable law (the “Maximum Rate”), and, without limiting the foregoing, in no event shall any
rate of interest or default interest, or both of them, when aggregated with any other sums which under applicable law in the nature of
interest that the Company may be obligated to pay under this Agreement, the Note and any document, agreement or instrument contemplated
thereby exceed such Maximum Rate. It is agreed that if the maximum contract rate of interest allowed by law applicable to this Agreement,
the Note and any document, agreement or instrument contemplated thereby is increased or decreased by statute or any official governmental
action subsequent to the date hereof, the new maximum contract rate of interest allowed by law will be the Maximum Rate applicable to
this Agreement, the Note and any document, agreement or instrument contemplated thereby from the effective date thereof forward, unless
such application is precluded by applicable law. If under any circumstances whatsoever, interest in excess of the Maximum Rate is paid
by the Company to the Buyer with respect to indebtedness evidenced by this Agreement, the Note and any document, agreement or instrument
contemplated thereby, such excess shall be applied by the Buyer to the unpaid principal balance of any such indebtedness or be refunded
to the Company, the manner of handling such excess to be at the Buyer’s election.

 

d.        
Restriction on Activities. Commencing as of the date first above written, and until the earlier
of payment of the Note in full or full conversion of the Note, the Company shall not, directly or indirectly, without the Buyer’s
prior written consent, which consent shall not be unreasonably withheld: (a) change the nature of its business in any material respect;
or (b) sell, divest, acquire, change the structure of any material assets other than in the ordinary course of business. Notwithstanding
the forgoing, any prior public disclosure of the Company’s intent or contemplation to sell, divest, acquire, or change the structure
of any material assets shall not require Buyer’s prior written consent.

 

e.        
Listing. The Company, for so long as the Buyer owns any of the Securities, will maintain the
listing and trading of its Common Stock on the Principal Market or any replacement exchange or electronic quotation system (including
but not limited to the Pink Sheets electronic quotation system) and will comply in all respects with the Company’s reporting, filing
and other obligations under the bylaws or rules of the Financial Industry Regulatory Authority (“FINRA”) and such exchanges,
as applicable. The Company shall promptly provide to the Buyer copies of any notices it receives from the Principal Market and any other
exchanges or electronic quotation systems on which the Common Stock is then traded regarding the continued eligibility of the Common Stock
for listing on such exchanges and quotation systems.

 

f.         
Corporate Existence. The Company will, so long as there is any remaining principal amount
or accrued interest outstanding with respect to the Note, maintain its corporate existence and shall not sell all or substantially all
of the Company’s assets, except in the event of a merger or consolidation or sale of all or substantially all of the Company’s
assets, where the surviving or successor entity in such transaction (i) assumes the Company’s obligations hereunder and under the
agreements and instruments entered into in connection herewith and (ii) is a publicly traded corporation whose Common Stock is listed
for trading or quotation on the Principal Market, any tier of the NASDAQ Stock Market, the New York Stock Exchange or the NYSE MKT.

 

g.        
No Integration. The Company shall not make any offers or sales of any security (other than
the Securities) under circumstances that would require registration of the Securities being offered or sold hereunder under the 1933 Act
or cause the offering of the Securities to be integrated with any other offering of securities by the Company for the purpose of any stockholder
approval provision applicable to the Company or its securities.

 

h.        
Breach of Covenants. The Company acknowledges and agrees that if the Company breaches any
of the covenants set forth in this Section 4 that would have a Material Adverse Effect, in addition to any other remedies available to
the Buyer pursuant to this Agreement, it will be considered an Event of Default under Section 3.2 of the Note.

 

 

 

 

    	 	10	 

     

    

 

i.         
Compliance with 1934 Act; Public Information Failures. For so long as any portion of the principal amount or any accrued
interest remains outstanding, the Company shall comply in all material respects with the reporting requirements of the 1934 Act; and the
Company shall continue to be subject to the reporting requirements of the 1934 Act. During the period that the Buyer beneficially owns
the Note, if the Company shall (i) fail for any reason to satisfy the requirements of Rule 144(c)(1), including, without limitation, the
failure to satisfy the current public information requirements under Rule 144(c) or (ii) if the Company has ever been an issuer described
in Rule 144(i)(1)(i) or becomes such an issuer in the future, and the Company shall fail to satisfy any condition set forth in Rule 144(i)(2)
(each, a “Public Information Failure”) then, as partial relief for the damages to the Buyer by reason of any such delay in
or reduction of its ability to sell the Securities (which remedy shall not be exclusive of any other remedies available pursuant to this
Agreement, the Note, or at law or in equity), the Company shall pay to the Buyer on every thirtieth day (pro-rated for periods totaling
less than thirty days), an amount in cash equal to three percent (3%) of the Purchase Price for each day of a Public Information Failure
until the date such Public Information Failure is cured. The payments to which a holder shall be entitled pursuant to this Section 4(i)
are referred to herein as “Public Information Failure Payments.” Public Information Failure Payments shall be paid on the
earlier of (i) the last day of the calendar month during which such Public Information Failure Payments are incurred and (iii) the third
business day after the event or failure giving rise to the Public Information Failure Payments is cured. In the event the Company fails
to make Public Information Failure Payments in a timely manner, such Public Information Failure Payments shall bear interest at the rate
of two percent (2%) per month (prorated for partial months) until paid in full. As used in this Agreement, the term “business day”
shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the city of New York, New York are authorized or
required by law or executive order to remain closed.

 

j.         
Disclosure of Transactions and Other Material Information. By 9:00 a.m., New York time, four
(4) Business Days following the date this Agreement has been fully executed and funded, the Company shall file a Current Report on Form
8-K describing the terms of the transactions contemplated by this Agreement in the form required by the 1934 Act and attaching this Agreement,
the form of Note and any other related documents that are required to be filed (the “8-K Filing”). From and after the filing
of the 8-K Filing with the SEC, the Buyer shall not be in possession of any material, non-public information received from the Company,
any of its Subsidiaries or any of their respective officers, directors, employees or agents that is not disclosed in the 8-K Filing. In
addition, effective upon the filing of the 8-K Filing, the Company acknowledges and agrees that any and all confidentiality or similar
obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers,
directors, affiliates, employees or agents, on the one hand, and the Buyer or any of its affiliates, on the other hand, shall terminate.

 

k.        
Legal Counsel Opinions. Upon the request of the Buyer from to time to time, the Company shall
be responsible, at its cost, for promptly supplying to the Company’s transfer agent and the Buyer, at the Company’s discretion,
either a customary legal opinion letter or reliance letter (which reliance letter shall indicate that the transfer agent may rely on the
opinion of Buyer’s counsel) of its counsel (the “Legal Counsel Opinion or Reliance Letter”) to the effect that the resale
of the Conversion Shares by the Buyer or its affiliates, successors and assigns is exempt from the registration requirements of the 1933
Act pursuant to Rule 144, provided the requirements of Rule 144 are satisfied and provided the Conversion Shares are not then registered
under the 1933 Act for resale pursuant to an effective registration statement, or other applicable exemption, provided the requirements
of such other applicable exemption are satisfied. Buyer will take no action or inaction that would invalidate the proposed opinion. Buyer
will provide the customary representations to counsel in order to provide such an opinion. Should the Company’s legal counsel fail
for any reason other than that the requirements of said exemption are unavailable in the reasonable opinion of counsel to issue the Legal
Counsel Opinion or Reliance Letter, the Buyer may, at the Company’s cost, secure another legal counsel, acceptable to the Company,
to issue the Legal Counsel Opinion or Reliance Letter, and the Company will instruct its transfer agent to accept such opinion. The Company
represents that it is not now, nor ever has been, a “shell company.”

 

l.         
Most-Favored Nation. While the Note or any principal amount, interest or fees or expenses
due thereunder remain outstanding and unpaid, the Company shall not enter into any subsequent public or private offering of its securities
(including securities convertible into shares of Common Stock), or issue any securities from existing convertible or exercisable securities,
with any individual or entity (an “Other Investor”) that has the effect of establishing rights or otherwise benefiting such
Other Investor in a manner more favorable in any material respect to such Other Investor than the rights and benefits established in favor
of the Buyer by this Agreement. In the event the Company enters into such an agreement with said more favorable terms, this Agreement
shall automatically, without further action of the parties, be amended to include those more favorable terms into this Agreement. Notwithstanding
the foregoing, any conversion prices that are variable in nature shall be included herein as a Fixed Conversion Price and the variable
characteristics shall not be incorporated herein.

 

 

 

    	 	11	 

     

    

 

m.      
Non-Public Information. The Company covenants and agrees that, neither it, nor any other person
acting on its behalf will provide the Buyer or its agents or counsel with any information that constitutes, or the Company reasonably
believes constitutes, material non-public information, unless prior thereto the Buyer shall have consented to the receipt of such information
and agreed with the Company to keep such information confidential. The Company understands and confirms that the Buyer shall be relying
on the foregoing covenant in effecting transactions in securities of the Company. To the extent that the Company delivers any material,
non-public information to the Buyer without such Buyer’s consent, the Company hereby covenants and agrees that such Buyer shall
not have any duty of confidentiality to the Company, any of its Subsidiaries, or any of their respective officers, directors, agents,
employees or affiliates, not to trade on the basis of, such material, non-public information, provided that the Buyer shall remain subject
to applicable law. To the extent that any notice provided, information provided, or any other communications made by the Company, to the
Buyer, constitutes or contains material non-public information regarding the Company or any Subsidiaries, the Company shall, as promptly
as reasonably possible, file such notice or other material information with the SEC pursuant to a Current Report on Form 8-K or other
means of public release. In addition to any other remedies provided by this Agreement or the related transaction documents, if the Company
provides any material non-public information to the Buyer without their prior written consent, and it fails to disclose this material
non-public information in accordance with this provision, it shall pay the Buyer as partial liquidated damages and not as a penalty a
sum equal to $3,000 per day beginning with the day the information is disclosed to the Buyer and ending and including the day the Form
8-K disclosing this information is filed.

 

n.      
[RESERVED].

 

As used in this Agreement,
the term “business day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the city of
New York, New York are authorized or required by law or executive order to remain closed.

 

5.   
Transfer Agent Instructions. The Company shall issue irrevocable instructions to the Company’s
transfer agent to issue certificates or other evidence of ownership of such equity instruments in book-entry, registered in the name of
the Buyer or its nominee or in street name, upon conversion of the Note, the Conversion Shares, in such amounts as specified from time
to time by the Buyer to the Company in accordance with the terms thereof (the “Irrevocable Transfer Agent Instructions”).
In the event that the Company proposes to replace its transfer agent, the Company shall provide, prior to the effective date of such replacement,
a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant to this Agreement (including but not
limited to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount (as defined in the Note)) signed by the
successor transfer agent to the Company and the Company. Prior to registration of the Conversion Shares under the 1933 Act or the date
on which the Conversion Shares may be sold pursuant to Rule 144, Rule 144A, Regulation S, or other applicable exemption without any restriction
as to the number of Securities as of a particular date that can then be immediately sold, all such certificates shall bear the restrictive
legend specified in Section 2(g) of this Agreement. The Company warrants that: (i) no instruction other than the Irrevocable Transfer
Agent Instructions referred to in this Section 5 will be given by the Company to its transfer agent; (ii) it will not direct its transfer
agent not to transfer or delay, impair, and/or hinder its transfer agent in transferring (or issuing electronically or in certificated
form) any certificate for Securities to be issued to the Buyer upon conversion of or otherwise pursuant to the Note as and when required
by the Note and this Agreement; (iii) it will not fail to remove (or directs its transfer agent not to remove or impairs, delays, or hinders
its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions in respect thereof) on any certificate
for any Securities issued to the Buyer upon conversion of or otherwise pursuant to the Note as and when required by the Note and this
Agreement; and (iv) it will provide any required issuance approvals to its transfer agent within six (6) hours of each conversion of the
Note. Nothing in this Section shall affect in any way the Buyer’s obligations and agreement set forth in this Agreement hereof to
comply with all applicable prospectus delivery requirements, if any, upon resale of the Securities. If the Buyer provides the Company,
at the cost of the Company, with (i) an opinion of counsel in form, substance and scope customary for opinions in comparable transactions,
to the effect that a public sale or transfer of such Securities may be made without registration under the 1933 Act and such sale or transfer
is effected, or (ii) the Buyer provides reasonable assurances that the Securities can be sold pursuant to Rule 144, Rule 144A, Regulation
S, or other applicable exemption, the Company shall permit the transfer, and, in the case of the Securities, promptly instruct its transfer
agent to issue one or more certificates, free from restrictive legend, in such name and in such denominations as specified by the Buyer.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Buyer, by vitiating the intent
and purpose of the transactions contemplated hereby. Accordingly, the Company acknowledges that the remedy at law for a breach of its
obligations under this Section 5 may be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions
of this Section, that the Buyer shall be entitled, in addition to all other available remedies, to an injunction restraining any breach
and requiring immediate transfer, without the necessity of showing economic loss and without any bond or other security being required.

 

 

 

 

    	 	12	 

     

    

 

6.    Conditions
to the Company’s Obligation to Sell. The obligation of the Company hereunder to issue and sell the Note and the Commitment
Shares to the Buyer at the Closing is subject to the satisfaction, at or before the Closing Date, of each of the following
conditions thereto, provided that these conditions are for the Company’s sole benefit and may be waived by the Company at any
time in its sole discretion:

 

a.        
The Buyer shall have executed this Agreement and delivered the same to the Company.

 

b.        
The Buyer shall have delivered the Purchase Price in accordance with Section 1(b) above.

 

c.        
The representations and warranties of the Buyer shall be true and correct in all material respects
as of the date when made and as of the Closing Date, as though made at that time (except for representations and warranties that speak
as of a specific date), and the Buyer shall have performed, satisfied and complied in all material respects with the covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Buyer at or prior to the Closing Date.

 

d.        
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have
been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated
by this Agreement.

 

7.    Conditions
to The Buyer’s Obligation to Purchase. The obligation of the Buyer hereunder to purchase the Note, on the Closing Date, is
subject to the satisfaction, at or before the Closing Date, of each of the following conditions, provided that these conditions are
for the Buyer’s sole benefit and may be waived by the Buyer at any time in its sole discretion:

 

a.        
The Company shall have executed this Agreement and delivered the same to the Buyer.

 

b.        
The Company shall have delivered to the Buyer the duly executed Note in such denominations as the
Buyer shall request and in accordance with Section 1(b) above.

 

c.        
The Irrevocable Transfer Agent Instructions, in form and substance satisfactory to the Buyer, shall
have been delivered to and acknowledged in writing by the Company’s Transfer Agent.

 

d.        
The representations and warranties of the Company shall be true and correct in all material respects
as of the date when made and as of Closing Date, as though made at such time (except for representations and warranties that speak as
of a specific date) and the Company shall have performed, satisfied and complied in all material respects with the covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date.

 

e.        
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have
been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated
by this Agreement.

 

f.         
No event shall have occurred which could reasonably be expected to have a Material Adverse Effect
on the Company including but not limited to a change in the 1934 Act reporting status of the Company or the failure of the Company to
be timely in its 1934 Act reporting obligations.

 

 

 

 

    	 	13	 

     

    

 

g.        
The Company shall have delivered to the Buyer (i) a certificate evidencing the formation and good
standing of the Company and each of its Subsidiaries in such entity’s jurisdiction of formation issued by the Secretary of State
(or comparable office) of such jurisdiction, as of a date within ten (10) days of the Closing Date, and (ii) resolutions adopted by the
Company’s Board of Directors at a duly called meeting or by unanimous written consent authorizing this Agreement and all other documents,
instruments and transactions contemplated hereby.

 

 8.    Governing Law; Miscellaneous.

 

a.        
Governing Law; Venue. This Agreement shall be governed by and construed in accordance with
the laws of the State of New York without regard to principles of conflicts of laws. Any action brought by either party against the other
concerning the transactions contemplated by this Agreement, the Note, or any other agreement, certificate, instrument or document contemplated
hereby shall be brought only in the state courts of New York or in the federal courts located in the state of New York. The parties to
this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert
any defense based on lack of jurisdiction or venue or based upon forum non conveniens. EACH PARTY HEREBY IRREVOCABLY WAIVES
ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR
ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTIONS CONTEMPLATED HEREBY. The prevailing party shall be entitled to recover from the
other party its reasonable attorney’s fees and costs. Each party hereby irrevocably waives personal service of process and consents
to process being served in any suit, action or proceeding in connection with this Agreement, the Note, the Commitment Shares, or any other
agreement, certificate, instrument or document contemplated hereby or thereby by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any other manner permitted by law.

 

b.        
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original but all of which shall constitute one and the same agreement and shall become effective when counterparts have been
signed by each party and delivered to the other party. A facsimile or .pdf signature shall be considered due execution and shall be binding
upon the signatory thereto with the same force and effect as if the signature were an original, not a facsimile or .pdf signature. Delivery
of a counterpart signature hereto by facsimile or email/.pdf transmission shall be deemed validly delivery thereof.

 

c.        
Construction; Headings. This Agreement shall be deemed to be jointly drafted by the Company
and the Buyer and shall not be construed against any person as the drafter hereof. The headings of this Agreement are for convenience
of reference only and shall not form part of, or affect the interpretation of, this Agreement.

 

d.        
Severability. In the event that any provision of this Agreement, the Note, or any other agreement
or instrument delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision
shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or
rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability
of any other provision of this Agreement, the Note, the Commitment Shares, or any other agreement, certificate, instrument or document
contemplated hereby or thereby.

 

e.        
Entire Agreement; Amendments. This Agreement, the Note, the Commitment Shares, and the instruments
referenced herein contain the entire understanding of the parties with respect to the matters covered herein and therein and, except as
specifically set forth herein or therein, neither the Company nor the Buyer makes any representation, warranty, covenant or undertaking
with respect to such matters. No provision of this Agreement or any agreement or instrument contemplated hereby may be waived or amended
other than by an instrument in writing signed by the Buyer.

 

 

 

 

    	 	14	 

     

    

 

f.         
Notices. All notices, demands, requests, consents, approvals, and other communications required
or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served; (ii) deposited in the
mail, registered or certified, return receipt requested, postage prepaid; (iii) delivered by reputable air courier service with charges
prepaid; or (iv) transmitted by hand delivery, telegram, e-mail or facsimile, addressed as set forth below or to such other address as
such party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder
shall be deemed effective (a) upon hand delivery or delivery by e-mail or facsimile, with accurate confirmation generated by the transmitting
facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business
hours where such notice is to be received), or (b) on the second business day following the date of mailing by express courier service,
fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such
communications shall be:

 

If to the Company, to:

 

DARKPULSE, INC.

1345 Avenue of the Americas, 2nd Floor

New York, New York 10105

Attention: Dennis O’Leary

e-mail: doleary@darkpulse.com

 

If to the Buyer:

 

FIRSTFIRE GLOBAL OPPORTUNITIES FUND
LLC

1040 First Avenue, Suite 190

New York, NY 10022

Attention:
Eli Fireman

e-mail: eli@firstfirecapital.com

 

With a copy by e-mail only to (which copy shall not constitute
notice):

 

FABIAN VANCOTT

Attn: Anthony Michael Panek

e-mail: apanek@fabianvancott.com

 

g.        
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the
parties and their successors and assigns. Neither the Company nor the Buyer shall assign this Agreement or any rights or obligations hereunder
without the prior written consent of the other. Notwithstanding the foregoing, subject to Section 2(f), the Buyer may assign its rights
hereunder to any person that purchases Securities in a private transaction from the Buyer or to any of its “affiliates,” as
that term is defined under the 1934 Act, without the consent of the Company.

 

h.        
Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto
and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any
other person.

 

 

 

 

    	 	15	 

     

    

 

i.         
Survival. The representations and warranties of the Company and the Buyer and the agreements
and covenants set forth in this Agreement shall survive the closing hereunder notwithstanding any due diligence investigation conducted
by or on behalf of the Buyer or by or on behalf of the Company. The Company agrees to indemnify and hold harmless the Buyer and all their
officers, directors, employees and agents for loss or damage arising as a result of or related to any breach or alleged breach by the
Company of any of its representations, warranties and covenants set forth in this Agreement or any of its covenants and obligations under
this Agreement, including advancement of expenses as they are incurred. The Buyer agrees to indemnify and hold harmless the Company and
all its officers, directors, employees and agents for loss or damage arising as a result of or related to any breach or alleged breach
by the Buyer of any of its representations, warranties and covenants set forth in this Agreement or any of its covenants and obligations
under this Agreement, including advancement of expenses as they are incurred.

 

j.         
Publicity. The Company shall be entitled, without the prior approval of the Buyer, to make
any press release or SEC, Principal Market (or other applicable trading market) or FINRA filings with respect to such transactions as
is required by applicable law and regulations (although the Buyer shall be consulted by the Company in connection with any such press
release prior to its release and shall be provided with a copy thereof and be given an opportunity to comment thereon).

 

k.        
Expense Reimbursement; Further Assurances. At the Closing to occur as of the Closing Date,
the Company shall pay on behalf of the Buyer or reimburse the Buyer for its legal fees and expenses incurred in connection with this Agreement,
pursuant to the disbursement authorization signed by the Company of even date. Each party shall do and perform, or cause to be done and
performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents,
as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation
of the transactions contemplated hereby.

 

l.         
[RESERVED]

 

m.      
Indemnification. In consideration of the Buyer’s execution and delivery of this Agreement
and acquiring the Securities hereunder, and in addition to all of the Company’s other obligations under this Agreement or the Note,
the Company shall defend, protect, indemnify and hold harmless the Buyer and its stockholders, partners, members, officers, directors,
employees and direct or indirect investors and any of the foregoing persons’ agents or other representatives (including, without
limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”)
from and against any and all third party actions, causes of action, suits, claims, losses, costs, penalties, fees, liabilities and damages,
and expenses in connection therewith (irrespective of whether any such Indemnitee is a party to the action for which indemnification hereunder
is sought), and including reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by
any Indemnitee as a result of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty
made by the Company in this Agreement, the Note or any other agreement, certificate, instrument or document contemplated hereby or thereby,
(b) any breach of any covenant, agreement or obligation of the Company contained in this Agreement, the Note or any other agreement, certificate,
instrument or document contemplated hereby or thereby or (c) any cause of action, suit or claim brought or made against such Indemnitee
by a third party (including for these purposes a derivative action brought on behalf of the Company) and arising out of or resulting from
(i) the execution, delivery, performance or enforcement of this Agreement, the Note or any other agreement, certificate, instrument or
document contemplated hereby or thereby; (ii) any transaction financed or to be financed in whole or in part, directly or indirectly,
with the proceeds of the issuance of the Securities; or (iii) the status of the Buyer or holder of the Securities as an investor in the
Company pursuant to the transactions contemplated by this Agreement. To the extent that the foregoing undertaking by the Company may be
unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified
Liabilities that is permissible under applicable law.

 

n.        
Remedies. The Company and the Buyer each acknowledge that a breach by one, of its obligations
hereunder will cause irreparable harm to the other by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly,
the Company and the Buyer each acknowledge that the remedy at law for a breach of its obligations under this Agreement or the Note will
be inadequate and agrees, in the event of a breach or threatened breach by the Company or the Buyer of the provisions of this Agreement,
the Note, or the Commitment Shares, that the Company or the Buyer, as appropriate, shall be entitled, in addition to all other available
remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Agreement or the Note and to enforce specifically the terms and provisions hereof, without the necessity
of showing economic loss and without any bond or other security being required.

 

 

 

 

    	 	16	 

     

    

 

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

 

p.        
Failure or Indulgence Not Waiver. No failure or delay on the part of the Buyer on the one
hand or the Company on the other hand, in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other
right, power or privileges. All rights and remedies of the Buyer or the Company existing hereunder are cumulative to, and not exclusive
of, any rights or remedies otherwise available.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	17	 

     

    

 

IN WITNESS WHEREOF, the undersigned
Buyer and the Company have caused this Agreement to be duly executed as of the date first above written.

 

DARKPULSE, INC.

 

 

 

	By: /s/ Dennis O’Leary                       
	Name: Dennis O’Leary
	Title: Chief Executive Officer 

 

 

FIRSTFIRE GLOBAL OPPORTUNITIES FUND, LLC

 

         By: FirstFire Capital Management, LLC

 

 

	By: /s/ Eli Fireman                            
	
    Name: Eli Fireman

    Title: Manager

 

 

SUBSCRIPTION AMOUNT:

 

	Principal Amount of Note: $825,000.00
	Actual Amount of Purchase Price of Note: $750,000.00*

 

 

 

 

*The purchase price of $750,000.00
shall be paid promptly after the full execution of the Note and related transaction documents.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	18	 

     

    

 

EXHIBIT A

 

FORM OF NOTE

 

[attached hereto]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	19

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