Document:

Exhibit
10.6

 

 

 

NEITHER
THIS NOTE NOR THE SECURITIES THAT MAY BE ISSUED BY THE COMPANY UPON CONVERSION HEREOF (COLLECTIVELY, THE “SECURITIES”)
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE SECURITIES LAWS OF ANY
STATE OR OTHER JURISDICTION. NEITHER THE SECURITIES NOR ANY INTEREST OR PARTICIPATION THEREIN MAY BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED: (I) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE 1933 ACT, OR APPLICABLE STATE
SECURITIES LAWS; OR (II) IN THE ABSENCE OF AN OPINION OF COUNSEL, IN A FORM ACCEPTABLE TO THE ISSUER, THAT REGISTRATION IS NOT
REQUIRED UNDER THE 1933 ACT OR; (III) UNLESS SOLD, TRANSFERRED OR ASSIGNED PURSUANT TO RULE 144 UNDER THE 1933 ACT.

 

10%
CONVERTIBLE PROMISSORY NOTE

 

MATURITY
DATE OF SEPTEMBER 28, 2021 *THE “MATURITY DATE”

 

$108,000
SEPTEMBER 28, 2020 *THE “ISSUANCE DATE”

 

FOR
VALUE RECEIVED, LGBTQ Loyalty Holdings, Inc., a Delaware Corporation (the “Company”) doing business in
Wilton Florida, hereby promises to pay to the order of JSJ Investments Inc., an accredited investor and Texas Corporation, or
its assigns (the “Holder”), the principal amount of One Hundred and Eight Thousands Dollars ($108,000) (“Note”),
on demand of the Holder at any time on or after September 28, 2021 (the “Maturity Date”), and to pay interest
on the unpaid principal balance hereof at the rate of Ten Percent (10%) per annum (the “Interest Rate”) commencing
on the date hereof (the “Issuance Date”).

 

The
Principal Amount is One Hundred and Eight Thousand Dollars ($108,000) and the consideration paid by the Holder is One Hundred
and Three Thousand Dollars ($103,000) (the “Consideration”); there exists an original issue discount of $5,000 (the
“OID”)).

 

	 	1.	Payments
    of Principal and Interest.

 

	 	a.	Pre-Payment
    and Payment of Principal and Interest. The Company may pay this Note in full, together with any and all accrued and unpaid
    interest, plus any applicable pre-payment premium set forth herein and subject to the terms of this Section 1.a, at any time
    on or prior to the date which occurs 180 days after the Issuance Date hereof (the “Prepayment Date”). In the event
    the Note is not prepaid in full on or before the Prepayment Date, it shall be deemed a “Pre-Payment Default” hereunder.
    Until the Ninetieth (90th) day after the Issuance Date the Company may pay the principal at a cash redemption premium of 125%,
    in addition to outstanding interest, without the Holder’s consent; from the 91st day to the One Hundred and Twentieth
    (120th) day after the Issuance Date, the Company may pay the principal at a cash redemption premium of 130%, in addition to
    outstanding interest, without the Holder’s consent; from the 121st day to the Prepayment Date, the Company may pay the
    principal at a cash redemption premium of 140%, in addition to outstanding interest, without the Holder’s consent. After
    the Prepayment Date up to the Maturity Date this Note shall have a cash redemption premium of 150% of the then outstanding
    principal amount of the Note, plus accrued interest and Default Interest, if any, which may only be paid by the Company upon
    Holder’s prior written consent. At any time on or after the Maturity Date, the Company
    may repay the then outstanding principal plus accrued interest and Default Interest (defined below), if any, to the Holder.
	 	 	 
	 	b.	Demand
    of Repayment. The principal and interest balance of this Note shall be paid to the Holder hereof on demand by the Holder
    at any time on or after the Maturity Date. The Default Amount (defined herein), if applicable, shall be paid to Holder hereof
    on demand by the Holder at any time such Default Amount becomes due and payable to Holder. The Holder may, by written notice
    to the Company at least five (5) days before the Maturity Date (as may have been previously extended), extend the Maturity
    Date to up to one (1) year following the date of the original Maturity Date hereunder.
	 	 	 
	 	c.	Interest.
    This Note shall bear interest (“Interest”) at the rate of Ten Percent (10%) per annum from the Issuance
    Date until the same is paid, or otherwise converted in accordance with Section 2 below, in full and the Holder, at the Holder’s
    sole discretion, may include any accrued but unpaid Interest in the Conversion Amount. Interest shall commence accruing on
    the Issuance Date, shall be computed on the basis of a 365- day year and the actual number of days elapsed and shall accrue
    daily and, after the Maturity Date, compound quarterly. Upon an Event of Default, as defined in Section 10 below, the Interest
    Rate shall increase to Eighteen Percent (18%) per annum for so long as the Event of Default is continuing (“Default
    Interest”).
	 	 	 
	 	d.	General
    Payment Provisions. This Note shall be paid in lawful money of the United States of America by check or wire transfer
    to such account as the Holder may from time to time designate by written notice to the Company 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 (as defined below), 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. For purposes of this
    Note, “Business Day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks
    in the State of Texas are authorized or required by law or executive order to remain closed.

 

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	 	2.	Conversion
    of Note. At any time after the Pre-payment Date, the Conversion Amount (see Paragraph 2(a)(i)) of this Note shall be convertible
    into shares of the Company’s common stock (the “Common Stock”) according to the terms and conditions
    set forth in this Paragraph 2.

 

	 	a.	Certain
    Defined Terms. For purposes of this Note, the following terms shall have the following meanings:

 

	 	i.	“Conversion
    Amount” means the sum of (a) the principal amount of this Note to be converted with respect to which this determination
    is being made, (b) Interest; and (c) Default Interest, if any, if so included at the Holder’s sole discretion.
	 	 	 
	 	ii.	“Conversion
    Price” means a 40% discount to the lowest trading price during the previous twenty (20) trading days to the date
    of a Conversion Notice; (subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Company
    relating to the Company’s securities or the securities of any subsidiary of the Company, combinations, recapitalization,
    reclassifications, extraordinary distributions and similar events).
	 	 	 
	 	iii.	“Person”
    means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated
    organization and a government or any department or agency thereof.
	 	 	 
	 	iv.	“Shares”
    means the Shares of the Common Stock of the Company into which any balance on this Note may be converted upon submission of
    a “Conversion Notice” to the Company substantially in the form attached hereto as Exhibit 1.

 

	 	b.	Holder’s
    Conversion Rights. At any time after the Pre-payment Date, the Holder shall be entitled to convert all of the outstanding
    and unpaid principal and accrued interest of this Note into fully paid and non-assessable shares of Common Stock in accordance
    with the stated Conversion Price. The Holder shall not be entitled to convert on a Conversion Date that amount of the Note
    in connection with that number of shares of Common Stock which would be in excess of the sum of the number of shares of Common
    Stock issuable upon the conversion of the Note with respect to which the determination of this provision is being made on
    a Conversion Date, which would result in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding
    shares of Common Stock of the Company on such Conversion Date. For the purposes of the provision to the immediately preceding
    sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934,
    as amended, and Regulation 13d-3 thereunder. Subject to the foregoing, the Holder shall not be limited to aggregate conversions
    of 4.99% (“Conversion Limitation 1”). The Holder shall have the authority to determine whether the restriction
    contained in this Section 2(b) will limit any conversion hereunder, and accordingly, the Holder may waive the conversion
    limitation described in this Section 2(b), in whole or in part, upon and effective after 61 days prior written notice
    to the Company to increase or decrease such percentage to any other amount as determined by Holder in its sole discretion
    (“Conversion Limitation 2”). If in the case that the Company’s Common Stock is “chilled” for
    deposit into the DTC system and only eligible for clearing deposit, then an additional 15% discount to the Conversion Price
    shall apply for all future conversions under the Note while the “chill” is in effect. For the avoidance of doubt,
    with reference to section 2(a)ii of this note, when the “chill” is in effect the conversion price will increase
    from a 35% discount to a 50% discount to the lowest trading price during the previous (20) days to the date of a Conversion
    Notice. To the extent the Conversion Price of the Company’s Common Stock closes below the par value per share, the Company
    will take all steps necessary to solicit the consent of the stockholders to reduce the par value to the lowest value possible
    under law. The Company agrees to honor all conversions submitted pending this adjustment unless the Holder, in its sole and
    absolute discretion elects instead to set the Conversion Price to par value for such conversion(s) and the conversion amount
    for such conversion(s) shall be increased to include Additional Principal, where “Additional Principal” means
    such additional amount to be added to the conversion amount to the extent necessary to cause the number of Common Stock issuable
    upon such conversion(s) to equal the same number of Common Stock as would have been issued had the Conversion Price not been
    set to par value in the Holder’s sole and absolute discretion.
	 	 	 
	 	c.	Fractional
    Shares. The Company shall not issue any fraction of a share of Common Stock upon any conversion; if such issuance would
    result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common
    Stock up to the nearest whole share except in the event that rounding up would violate the conversion limitation set forth
    in section 2(b) above.
	 	 	 
	 	d.	Conversion
    Amount. The Conversion Amount shall be converted pursuant to Rule 144(b)(1)(ii) and Rule 144(d)(1)(ii) as promulgated
    by the Securities and Exchange Commission under the Securities Act of 1933, as amended, into unrestricted shares at the Conversion
    Price.
	 	 	 
	 	e.	Mechanics
    of Conversion. The conversion of this Note shall be conducted in the following manner:

 

	 	i.	Holder’s
    Conversion Requirements. To convert this Note into shares of Common Stock on any date set forth in the Conversion Notice
    by the Holder (the “Conversion Date”), the Holder shall transmit by email, facsimile or otherwise deliver,
    for receipt on or prior to 11:59 p.m., Eastern Time, on such date or on the next business day, a copy of a fully executed
    notice of conversion in the form attached hereto as Exhibit 1 to the Company.

 

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	 	ii.	Company’s
    Response. Upon receipt by the Company of a copy of a Conversion Notice, the Company shall as soon as practicable, but
    in no event later than one (1) Business Day after receipt of such Conversion Notice, send, via email, facsimile or overnight
    courier, a confirmation of receipt of such Conversion Notice to such Holder indicating that the Company will process such
    Conversion Notice in accordance with the terms herein. Within two (2) Business Days after the date the Conversion Notice is
    delivered, the Company shall have issued and electronically transferred the shares to the Broker indicated in the Conversion
    Notice; should the Company be unable to transfer the shares electronically, it shall, within two (2) Business Days after the
    date the Conversion Notice was delivered, have surrendered to an overnight courier for delivery the next day to the address
    as specified in the Conversion Notice, a certificate, registered in the name of the Holder, for the number of shares of Common
    Stock to which the Holder shall be entitled.
	 	 	 
	 	iii.	Record
    Holder. The person or persons entitled to receive the shares of Common Stock issuable upon a conversion of this Note shall
    be treated for all purposes as the record holder or holders of such shares of Common Stock on the Conversion Date.
	 	 	 
	 	iv.	Timely
    Response by Company. Upon receipt by Company of a Conversion Notice, Company shall respond within one business day to
    Holder confirming the details of the Conversion, and provide within two business days the Shares requested in the Conversion
    Notice.
	 	 	 
	 	v.	Liquidated
    Damages for Delinquent Response. If the Company fails to deliver for whatever reason (including any neglect or failure
    by, e.g., the Company, its counsel or the transfer agent) to Holder the Shares as requested in a Conversion Notice
    within three (3) business days of the Conversion Date, the Company shall be deemed in “Default of Conversion.”
    Beginning on the fourth (4th) business day after the date of the Conversion Notice, after the Company is deemed in Default
    of Conversion, there shall accrue liquidated damages (the “Conversion Damages”) of $2,000 per day for each
    day after the third business day until delivery of the Shares is made, and such penalty will be added to the Note being converted
    (under the Company’s and Holder’s expectation and understanding that any penalty amounts will tack back to the
    Issuance Date of the Note). The Parties agree that, at the time of drafting of this Note, the Holder’s damages as to
    the delinquent response are incapable or difficult to estimate and that the liquidated damages called for is a reasonable
    forecast of just compensation.
	 	 	 
	 	vi.	Liquidated
    Damages for Inability to Issue Shares. If the Company fails to deliver Shares requested by a Conversion Notice due to
    an exhaustion of authorized and issuable common stock such that the Company must increase the number of shares of authorized
    Common Stock before the Shares requested may be issued to the Holder, the discount set forth in the Conversion Price will
    be increased by 5 percentage points (i.e. from 40% to 45%) for the Conversion Notice in question and all future Conversion
    Notices until the outstanding principal and interest of the Note is converted or paid in full. These liquidated damages shall
    not render the penalties prescribed by Paragraph 2(e)(v) void, and shall be applied in conjunction with Paragraph 2(e)(v)
    unless otherwise agreed to in writing by the Holder. The Parties agree that, at the time of drafting of this Note, the Holder’s
    damages as to the inability to issue shares are incapable or difficult to estimate and that the liquidated damages called
    for is a reasonable forecast of just compensation.
	 	 	 
	 	vii.	Rescindment
    of Conversion Notice. If: (i) the Company fails to respond to Holder within one business day from the date of delivery
    of a Conversion Notice confirming the details of the Conversion, (ii) the Company fails to provide the Shares requested in
    the Conversion Notice within three business days from the date of the delivery of the Conversion Notice, (iii) the Holder
    is unable to procure a legal opinion required to have the Shares issued unrestricted and/or deposited to sell for any reason
    related to the Company’s standing with the SEC or FINRA, or any action or inaction by the Company, (iv) the Holder is
    unable to deposit the Shares requested in the Conversion Notice for any reason related to the Company’s standing with
    the SEC or FINRA, or any action or inaction by the Company, (v) if the Holder is informed that the Company does not have the
    authorized and issuable Shares available to satisfy the Conversion, or (vi) if OTC Markets changes the Company’s designation
    to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull
    and Crossbones), or ‘OTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Sign) on the
    day of or any day after the date of the Conversion Notice, the Holder maintains the option and sole discretion to rescind
    the Conversion Notice (“Rescindment”) by delivering a notice of rescindment to the Company in the same
    manner that a Conversion Notice is required to be delivered to the Company pursuant to the terms of this Note.
	 	 	 
	 	viii.	Transfer
    Agent Fees and Legal Fees. The issuance of the certificates shall be without charge or expense to the Holder. The Company
    shall pay any and all Transfer Agent fees, legal fees, and advisory fees required for execution of this Note and processing
    of any Notice of Conversion, including but not limited to the cost of obtaining a legal opinion with regard to the Conversion.
    The Holder will deduct $3,000 from the principal payment of the Note solely to cover the cost of obtaining any and all legal
    opinions required to obtain the Shares requested in any given Conversion Notice. These fees do not make provision for or suffice
    to defray any legal fees incurred in collection or enforcement of the Note as described in Paragraph 13. All expenses incurred
    by Holder, for the issuance and clearing of the Common Stock into which this Note is convertible into, shall immediately and
    automatically be added to the balance of the Note at such time as the expenses are incurred by Holder.

 

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	 	ix.	Conversion
    Right Unconditional. If the Holder shall provide a Notice of Conversion as provided herein, the Company’s obligations
    to deliver Common Stock shall be absolute and unconditional, irrespective of any claim of setoff, counterclaim, recoupment,
    or alleged breach by the Holder of any obligation to the Company.

 

	 	3.	Other
    Rights of Holder: Reorganization, Reclassification, Consolidation, Merger or Sale. Any recapitalization, reorganization,
    reclassification, consolidation, merger, sale of all or substantially all of the Company’s assets to another Person
    or other transaction which is effected in such a way that holders of Common Stock are entitled to receive (either directly
    or upon subsequent liquidation) stock, securities, cash or other assets with respect to or in exchange for Common Stock is
    referred to herein as “Organic Change.” Prior to the consummation of any (i) Organic Change or (ii) other
    Organic Change following which the Company is not a surviving entity, the Company will secure from the Person purchasing such
    assets or the successor resulting from such Organic Change (in each case, the “Acquiring Entity”) a written
    agreement (in form and substance reasonably satisfactory to the Holder) to deliver to Holder in exchange for this Note, a
    security of the Acquiring Entity evidenced by a written instrument substantially similar in form and substance to this Note,
    and reasonably satisfactory to the Holder. Prior to the consummation of any other Organic Change, the Company shall make appropriate
    provision (in form and substance reasonably satisfactory to the Holder) to ensure that the Holder will thereafter have the
    right to acquire and receive in lieu of or in addition to (as the case may be) the shares of Common Stock immediately theretofore
    acquirable and receivable upon the conversion of the Note, such shares of stock, securities, cash or other assets that would
    have been issued or payable in such Organic Change with respect to or in exchange for the number of shares of Common Stock
    which would have been acquirable and receivable upon the conversion of the Note as of the date of such Organic Change (without
    taking into account any limitations or restrictions on the convertibility of the Note set forth in Section 2(b) or otherwise).
    All provisions of this Note must be included to the satisfaction of Holder in any new Note created pursuant to this section.

 

	 	a.	Adjustment
    Due to Distribution. If the Company 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 Company’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.

 

	 	4.	Representations
    and Warranties of the Company. In connection with the transactions provided for herein, the Company hereby represents
    and warrants to the Holder the following:

 

	 	a.	Organization,
    Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good standing under
    the laws of the state of its incorporation and has all requisite corporate power and authority to carry on its business as
    now conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the
    failure to so qualify would have a material adverse effect on its business or properties.
	 	 	 
	 	b.	Authorization.
    All corporate action has been taken on the part of the Company, its officers, directors and stockholders necessary for the
    authorization, execution and delivery of this Agreement. The Company has taken all corporate action required to make all of
    the obligations of the Company reflected in the provisions of this Agreement, valid and enforceable obligations. The shares
    of capital stock issuable upon conversion of the Note have been authorized or will be authorized prior to the issuance of
    such shares.
	 	 	 
	 	c.	Fiduciary
    Obligations. The Company hereby represents that it intends to use the proceeds of the Note primarily for the operations
    of its business and not for any personal, family, or household purpose. The Company hereby represents that its board of directors,
    in the exercise of its fiduciary duty, has approved the execution of this Agreement based upon a reasonable belief that the
    proceeds of the Note provided for herein is appropriate for the Company after reasonable inquiry concerning its financial
    objectives and financial situation.

 

	 	5.	Covenants
    of the Company.

 

	 	a.	So
    long as the Company shall have any obligations under this Note, the Company shall not without the Holder’s prior written
    consent 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 solely in the form of additional shares of Common Stock
	 	 	 
	 	b.	So
    long as the Company shall have any obligations under this Note, the Company shall not without the Holder’s prior written
    consent sell, lease, or otherwise dispose of a significant portion of its assets outside the ordinary course of business.
    Any consent to the disposition of any assets may be conditioned upon a specified use of the proceeds thereof.

 

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	 	6.	Reservation
    of Shares. The Company shall at all times, so long as any principal amount of the Note is outstanding, reserve and keep
    available out of its authorized and unissued shares of Common Stock, solely for the purpose of effecting the conversion of
    the Note, eight times the number of shares of Common Stock as shall at all times be sufficient to effect the conversion of
    all of the principal amount, plus Interest and Default Interest, if any, of the Note then outstanding (“Share Reserve”),
    unless the Holder stipulates otherwise in the “Irrevocable Letter of Instructions to the Transfer Agent.”
    So long as this Note is outstanding, upon written request of the Holder or via telephonic communication, the Company’s
    Transfer Agent shall furnish to the Holder the then-current number of common shares issued and outstanding, the then-current
    number of common shares authorized, the then-current number of unrestricted shares, and the then-current number of shares
    reserved for third parties.
	 	 	 
	 	7.	Voting
    Rights. The Holder of this Note shall have no voting rights as a note holder, except as required by law, however, upon
    the conversion of any portion of this Note into Common Stock, Holder shall have the same voting rights as all other Common
    Stock holders with respect to such shares of Common Stock then owned by Holder.
	 	 	 
	 	8.	Reissuance
    of Note. In the event of a conversion or redemption pursuant to this Note of less than all of the Conversion Amount represented
    by this Note, the Company shall promptly cause to be issued and delivered to the Holder, upon tender by the Holder of the
    Note converted or redeemed, a new note of like tenor representing the remaining principal amount of this Note which has not
    been so converted or redeemed and which is in substantially the same form as this Note, as set forth above.
	 	 	 
	 	9.	Default
    and Remedies.

 

	 	a.	Event
    of Default. For purposes of this Note, an “Event of Default” shall occur upon:

 

	 	i.	the
    Company’s default in the payment of the outstanding principal, Interest or Default Interest of this Note when due, whether
    at Maturity, acceleration or otherwise;
	 	 	 
	 	ii.	the
    occurrence of a Default of Conversion as set forth in Section 2(e)(v);
	 	 	 
	 	iii.	the
    failure by the Company for ten (10) days after notice to it to comply with any material provision of this Note not included
    in this Section 10(a);
	 	 	 
	 	iv.	the
    Company’s breach of any covenants, warranties, or representations made by the Company herein;
	 	 	 
	 	v.	any
    of the information in the DDF is false or misleading in any material respect;
	 	 	 
	 	vi.	the
    default by the Company in any Other Agreement entered into by and between the Company and Holder, for purposes hereof “Other
    Agreement” shall mean, collectively, all agreements and instruments between, among or by: (1) the Company, and, or for
    the benefit of, (2) the Holder and any affiliate of the Holder, including without limitation, promissory notes;
	 	 	 
	 	vii.	the
    cessation of operations of the Company or a material subsidiary;
	 	 	 
	 	viii.	the
    Company pursuant to or within the meaning of any Bankruptcy Law; (a) commences a voluntary case; (b) consents to the entry
    of an order for relief against it in an involuntary case; (c) consents to the appointment of a Custodian of it or for all
    or substantially all of its property; (d) makes a general assignment for the benefit of its creditors; or (e) admits in writing
    that it is generally unable to pay its debts as the same become due;
	 	 	 
	 	ix.	court
    of competent jurisdiction entering an order or decree under any Bankruptcy Law that: (a) is for relief against the Company
    in an involuntary case; (b) appoints a Custodian of the Company or for all or substantially all of its property; or (c) orders
    the liquidation of the Company or any subsidiary, and the order or decree remains unstayed and in effect for thirty (30) days;
	 	 	 
	 	x.	the
    Company files a Form 15 with the SEC;
	 	 	 
	 	xi.	the
    Company’s failure to timely file all reports required to be filed by it with the Securities and Exchange Commission;
	 	 	 
	 	xii.	the
    Company’s failure to timely file all reports required to be filed by it with OTC Markets to remain a “Current
    Information” designated company;
	 	 	 
	 	xiii.	the
    Company’s Common Stock is reported as “No Inside” by OTC Markets at any time while any principal, Interest
    or Default Interest under the Note remains outstanding;
	 	 	 
	 	xiv.	the
    Company’s failure to maintain the required Share Reserve pursuant to the terms of the Irrevocable Letter of Instructions
    to the Transfer Agent;
	 	 	 
	 	xv.	the
    Company directs its transfer agent not to transfer, or delays, impairs, or hinders its transfer agent in transferring or issuing
    (electronically or in certificated form) any certificate for Shares of Common Stock to be issued 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 and
    stop transfer instructions) on any certificate for any Shares of Common Stock 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 its obligations pursuant to a Conversion Notice submitted by the Holder) and any such failure shall continue
    uncured for three (3) Business Days after the Conversion Notice has been delivered to the Company by Holder;
	 	 	 
	 	xvi.	the
    Company’s failure to remain current in its billing obligations with its transfer agent and such delinquency causes the
    transfer agent to refuse to issue Shares to Holder pursuant to a Conversion Notice;
	 	 	 
	 	xvii.	the
    Company effectuates a reverse split of its Common Stock and fails to provide twenty (20) days prior written notice to Holder
    of its intention to do so; or
	 	 	 
	 	xviii.	OTC
    Markets changes the Company’s designation to ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull
    and Crossbones), or ‘OTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Sign).

 

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	 	xix.	“Change
    of Control Transaction” means the occurrence after the date hereof of any of (a) an acquisition after the date hereof
    by an individual or legal entity or “group” (as described in Rule 13d- 5(b)(1) promulgated under the Securities
    Exchange Act of 1934) of effective control (whether through legal or beneficial ownership of capital stock of the Company,
    by contract or otherwise) of in excess of 40% of the voting securities of the Company, (b) the Company merges into or consolidates
    with any other Person, as that term is defined in the Securities Act of 1933, as amended, or any Person merges into or consolidates
    with the Company and, after giving effect to such transaction, the stockholders of the Company immediately prior to such transaction
    own less than 60% of the aggregate voting power of the Company or the successor entity of such transaction, (c) the Company
    sells or transfers all or substantially all of its assets to another Person and the stockholders of the Company immediately
    prior to such transaction own less than 60% of the aggregate voting power of the acquiring entity immediately after the transaction,
    (d) a replacement at one time or within a three year period of more than one-half of the members of the Board of Directors
    which is not approved by a majority of those individuals who are members of the Board of Directors on the Issuance Date (or
    by those individuals who are serving as members of the Board of Directors on any date whose nomination to the Board of Directors
    was approved by a majority of the members of the Board of Directors who are members on the date hereof), or (e) the execution
    by the Company of an agreement to which the Company is a party or by which it is bound.
	 	 	 
	 	xx.	Altering
    the conversion terms of any notes that are currently outstanding.
	 	 	 
	 	xxi.	Notwithstanding
    anything to the contrary contained in this Note or the other related or companion documents, a breach or default by the Company
    of any covenant or other term or condition contained in any of other agreement entered into by the Company, after the passage
    of all applicable notice and cure or grace periods therein.

 

The
Term “Bankruptcy Law” means Title 11, U.S. Code, or any similar Federal or State Law for the relief of debtors.
The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy
Law.

 

	 	b.	Remedies.
    If an Event of Default occurs, the Holder may in its sole discretion determine to request immediate repayment of all or any
    portion of the Note that remains outstanding; at such time the Company will be required to pay the Holder the Default Amount
    (defined herein) in cash. For purposes hereof, the “Default Amount” shall mean: the product of (A) the
    then outstanding principal amount of the Note, plus accrued Interest and Default Interest, divided by (B) the Conversion Price
    as determined on the Issuance Date, multiplied by (C) the highest price at which the Common Stock traded at any time between
    the Issuance Date and the date of the Event of Default. If the Company fails to pay the Default Amount within five (5) Business
    Days of written notice that such amount is due and payable, then Holder shall have the right at any time, so long as the Company
    remains in default (and so long and to the extent there are a sufficient number of authorized but unissued shares), to require
    the Company, upon written notice, to immediately issue, in lieu of the Default Amount, the number of shares of Common Stock
    of the Company equal to the Default Amount divided by the Conversion Price then in effect.
	 	 	 
	 	c.	If
    at any time after the Issuance Date, the Company is not DWAC Eligible, then an additional 5% discount shall be factored into
    the Conversion Price. If at any time after the Issuance Date, the Common Stock is not DTC Eligible, then an additional 5%
    discount shall be factored into the Conversion Price. In addition, if any Event of Default occurs after the Issuance Date,
    then an additional 5% discount shall be factored into the Conversion Price for each of the first three (3) Events of Default
    that occur after the Issuance Date (for the avoidance of doubt, each occurrence of any Event of Default shall be deemed to
    be a separate occurrence for purposes of the foregoing reductions, even if the same Event of Default occurs three (3) separate
    times). For example, if there are three (3) separate occurrences of an Event of Default, then an additional 5% discount shall
    be factored into the Conversion Price for the first such occurrence, and so on for each of the second and third occurrences
    of such Event of Default.

 

	 	10.	Vote
    to Change the Terms of this Note. This Note and any provision hereof may only be amended by an instrument in writing signed
    by the Company and the Holder.
	 	 	 
	 	11.	Lost
    or Stolen Note. Upon receipt by the Company of evidence satisfactory to the Company of the loss, theft, destruction or
    mutilation of this Note, and, in the case of loss, theft or destruction, of an indemnification undertaking by the Holder to
    the Company in a form reasonably acceptable to the Company and, in the case of mutilation, upon surrender and cancellation
    of the Note, the Company shall execute and deliver a new Note of like tenor and date and in substantially the same form as
    this Note; provided, however, the Company shall not be obligated to re-issue a Note if the Holder contemporaneously requests
    the Company to convert such remaining principal amount, plus accrued Interest and Default Interest, if any, into Common Stock.
	 	 	 
	 	12.	Payment
    of Collection, Enforcement and Other Costs. If: (i) this Note is placed in the hands of an attorney for collection or
    enforcement or is collected or enforced through any legal proceeding; or (ii) an attorney is retained to represent the Holder
    of this Note in any bankruptcy, reorganization, receivership or other proceedings affecting creditors’ rights and involving
    a claim under this Note, then the Company shall pay to the Holder all reasonable attorneys’ fees, costs and expenses
    incurred in connection therewith, in addition to all other amounts due hereunder.
	 	 	 
	 	13.	Cancellation.
    After all principal, accrued Interest and Default Interest, if any, at any time owed on this Note has been paid in full or
    otherwise converted in full, this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation
    and shall not be reissued.
	 	 	 
	 	14.	Waiver
    of Notice. To the extent permitted by law, the Company hereby waives demand, notice, protest and all other demands and
    notices in connection with the delivery, acceptance, performance, default or enforcement of this Note.

 

    	6

     

    

 

	 	15.	Governing
    Law. This Note shall be construed and enforced in accordance with, and all questions concerning the construction, validity,
    interpretation and performance of this Note shall be governed by, the laws of the State of Texas, without giving effect to
    provisions thereof regarding conflict of laws. Each party hereby irrevocably submits to the non- exclusive jurisdiction of
    the state and federal courts sitting in Texas for the adjudication of any dispute hereunder or in connection herewith or with
    any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit,
    action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action
    or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party
    hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
    by sending, through certified mail or overnight courier, a copy thereof to such party at the address for such 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 manner permitted by law. 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 HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.
	 	 	 
	 	16.	Remedies,
    Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided in this Note shall be cumulative
    and in addition to all other remedies available under this Note, at law or in equity (including a decree of specific performance
    and/or other injunctive relief), and no remedy contained herein shall be deemed a waiver of compliance with the provisions
    giving rise to such remedy and nothing herein shall limit the Holder’s right to pursue actual damages for any failure
    by the Company to comply with the terms of this Note. The Company covenants to the Holder that there shall be no characterization
    concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect
    to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by the Holder thereof
    and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance
    thereof).
	 	 	 
	 	17.	Specific
    Shall Not Limit General; Construction. No specific provision contained in this Note shall limit or modify any more general
    provision contained herein. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be
    construed against any person as the drafter hereof.
	 	 	 
	 	18.	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 further exercise thereof or of any other right, power or privilege.
	 	 	 
	 	19.	Partial
    Payment. In the event of partial payment by the Holder, the principal sum due to the Holder shall be prorated based on
    the consideration actually paid by the Holder such that the Company is only required to repay the amount funded and the Company
    is not required to repay any unfunded portion of this Note, with the exception of any OID contemplated herein.
	 	 	 
	 	20.	Entire
    Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties with regard
    to the subjects herein. None of the terms of this Agreement can be waived or modified, except by an express agreement signed
    by all Parties hereto.
	 	 	 
	 	21.	Additional
    Representations and Warranties. The Company expressly acknowledges that the Holder, including but not limited to its officer,
    directors, employees, agents, and affiliates, have not made any representation or warranty to it outside the terms of this
    Agreement. The Company further acknowledges that there have been no representations or warranties about future financing or
    subsequent transactions between the parties.
	 	 	 
	 	22.	Notices.
    All notices and other communications given or made to the Company pursuant hereto shall be in writing (including facsimile
    or similar electronic transmissions) and shall be deemed effectively given: (i) upon personal delivery, (ii) when sent by
    electronic mail or facsimile, as deemed received by the close of business on the date sent, (iii) five (5) days after having
    been sent by registered or certified mail, return receipt requested, postage prepaid or (iv) one (1) day after deposit with
    a nationally recognized overnight courier, specifying next day delivery. All communications shall be sent either by email,
    or fax, or to the email address or facsimile number set forth on the signature page hereto. The physical address, email address,
    and phone number provided on the signature page hereto shall be considered valid pursuant to the above stipulations; should
    the Company’s contact information change from that listed on the signature page, it is incumbent on the Company to inform
    the Holder.
	 	 	 
	 	23.	Severability.
    If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded
    from this Agreement and the rest of the Agreement shall be enforceable in accordance with its terms.
	 	 	 
	 	24.	Usury.
    If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing
    usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest
    permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it will not seek to
    claim or take advantage of any law that would prohibit or forgive the Company from paying all or a portion of the principal,
    Interest or Default Interest on this Note.
	 	 	 
	 	25.	Successors
    and Assigns. This Agreement shall be binding upon all successors and assigns hereto. The Company may not assign this Note
    without the prior written consent of Holder. This Note and any shares of Common Stock issued upon conversion of this Note
    may be offered, sold, assigned or transferred by Holder without the consent of the Company.

 

—
SIGNATURE PAGE TO FOLLOW —

 

    	7

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be signed by its CEO, on and as of the Issuance Date.

 

	LGBTQ
    Loyalty Holdings, Inc.	 
	 	 
	Signature:	 	 
	 	 	 
	By:	 Robert Blair	 
	 	 	 
	Title:	 CEO	 
	 	 	 
	Address:	 2435
    N Dixie Hwy	 
	 	 	 
	 	 Wilton
    Manors, FI 33305	 
	 	 	 
	 	 	 
	 	 	 
	Email:	  bobby@lgbtql.com	 
	 	 	 
	Phone:	 954-336-0436	 
	 	 	 
	Facsimile:		 
	 	 	 
	JSJ Investments Inc.	 
	 	 
	Signature:	 
	 	 
	Sameer
    Hirji, President JSJ Investments Inc.	 
	10830
    North Central Expressway, Suite 152	 
	Dallas
    TX 75231	 
	888-503-2599	 

 

    	8

     

    

 

Exhibit
1

 

Conversion
Notice

 

Reference
is made to the 10% Convertible Note issued by LGBTQ Loyalty Holdings, Inc. (the “Note”), dated September 28, 2020
in the principal amount of $108,000 with 10% interest. This note currently holds a principal balance of $108,000. The features
of conversion stipulate a Conversion Price equal to a 40% discount to the lowest trading price during the previous twenty (20)
trading days to the date of a Conversion Notice pursuant to the provisions of Section 2(a)(ii) in the Note.

 

In
accordance with and pursuant to the Note, the undersigned hereby elects to convert $ of the principal/interest balance
of the Note, indicated below into shares of Common Stock (the “Common Stock”), of the Company, by tendering the Note
specified as of the date specified below.

 

Date
of Conversion: ________

 

Please
confirm the following information:

Conversion
Amount: $ _____________________

Conversion
Price: $_______________ (______ % discount from $_____________________ )

Number
of Common Stock to be issued: ________________________________________________________

Current Issued/Outstanding: ________________________________________________________________

 

If
the Issuer is DWAC eligible, please issue the Common Stock into which the Note is being converted in the name of the Holder of
the Note and transfer the shares electronically to:

 

[BROKER
INFORMATION]

 

Holder
Authorization:

 

JSJ
Investments Inc.

	10830
    North Central Expressway, Suite 152	*Do
    not send certificates to this address

Dallas,
TX 75231

888-503-2599

Tax
ID: 20-2122354

 

Sameer
Hirji, President

 

[DATE]

 

[CONTINUED
ON NEXT PAGE]

 

    	9

     

    

 

PLEASE
BE ADVISED, pursuant to Section 2(e)(ii) of the Note, “Upon receipt by the Company of a copy of the Conversion Notice,
the Company shall as soon as practicable, but in no event later than one (1) Business Day after receipt of such Conversion Notice,
SEND, VIA EMAIL, FACSIMILE OR OVERNIGHT COURIER, A CONFIRMATION OF RECEIPT OF SUCH CONVERSION NOTICE TO SUCH HOLDER INDICATING
THAT THE COMPANY WILL PROCESS SUCH CONVERSION NOTICE in accordance with the terms herein. Within two (2) Business Days after
the date of the Conversion Confirmation, the Company shall have issued and electronically transferred the shares to the Broker
indicated in the Conversion Notice; should the Company be unable to transfer the shares electronically, they shall, within two
(2) Business Days after the date of the Conversion Confirmation, have surrendered to FedEx for delivery the next day to the address
as specified in the Conversion Notice, a certificate, registered in the name of the Holder, for the number of shares of Common
Stock to which the Holder shall be entitled.”

 

	Signature:	 
	 	 
	 	 
	Robert
    A. Blair	 
	CEO	 
	LGBTQ
    Loyalty Holdings, Inc.	 

 

    	10Exhibit
10.7

 

SECURITIES
PURCHASE AGREEMENT

 

This
SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of March 11, 2020, is entered into by and between LGBTQ Loyalty
Holdings, Inc., a Delaware corporation (the “Company”), and EMA Financial, LLC, a Delaware limited liability company
(the “Purchaser” or “Holder”).

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933,
as amended (the “Securities Act” or “1933 Act”), and Rule 506 promulgated thereunder by the United States
Securities and Exchange Commission (the “SEC”), the Company desires to issue and sell to the Purchaser, and the Purchaser
desires to purchase from the Company a 10% convertible note of the Company, in the form attached hereto as Exhibit A, in the principal
amount of $85,000.00 (together with any note(s) issued in replacement thereof or as interest thereon or otherwise with respect
thereto in accordance with the terms thereof, the “Note”), convertible into shares (“Conversion Shares”) of
common stock, $0.001 par value per share (the “Common Stock”), of the Company, upon the terms and subject to the limitations
and conditions set forth in such Note.

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows:

 

1.
Purchase and Sale of Note.

 

a)
Purchase of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Purchaser, and the Purchaser
agrees to purchase from the Company, the Note for an aggregate purchase price of $78,750.00 (“Purchase Price”).

 

b)
Form of Payment. On the Closing Date (i) the Purchaser shall pay the Purchase Price by wire transfer of immediately available
funds, in accordance with the Company’s written instructions as provided in the disbursement authorization dated March 11, 2020
and signed by the Company (the “Disbursement Authorization”), simultaneously with delivery of the Note, and (ii) the
Company shall deliver such Note duly executed on behalf of the Company to the Purchaser, simultaneously with delivery of such
Purchase Price.

 

c)
Closing Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 8 and Section
9 below, the closing of the transactions contemplated by this Agreement (the “Closing”) shall occur on the first business
day following the date hereof or such other mutually agreed upon time (the “Closing Date”)

 

2.
Purchaser’s Representations and Warranties. The Purchaser represents and warrants to the Company that:

 

a)
Investment Purpose. Purchaser is acquiring the Note and the Conversion Shares (collectively, the “Securities”)
for its own account and not with a view towards, or for resale in connection with, the public sale or distribution thereof in
violation of applicable securities laws; provided, however, by making the representations herein, Purchaser does not agree, or
make any representation or warranty, 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. The Purchaser is acquiring the Securities hereunder in the ordinary course of its business. The Purchaser does not presently
have any agreement or understanding, directly or indirectly, with any person to distribute any of the Securities in violation
of applicable securities laws.

 

    	1

    	 

    

 

b)
Accredited Investor Status. The Purchaser is an “accredited investor” as that term is defined in Rule 50l(a)
of Regulation D (an “Accredited Investor”).

 

3.
Representations and Warranties of the Company. Except as disclosed by the Company in the publicly filed SEC Documents (as
defined in this Agreement) the Company represents and warrants to the Purchaser, as of the date hereof and the Closing Date, that:

 

a)
Organization and Qualification. The Company and each of 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. The SEC Documents set 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.

 

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

 

    	2

    	 

    

 

c)
Capitalization. As of the date hereof, the authorized capital stock of the Company, and number of shares issued and outstanding,
is as set forth in the Company’s most recent periodic report filed with the SEC. Except as disclosed in the SEC Documents no shares
are reserved for issuance pursuant to the Company’s stock option plans. Except as disclosed in the SEC Documents no shares are
reserved for issuance pursuant to securities exercisable for, or convertible into or exchangeable for shares of Common Stock.
All of such outstanding shares of capital stock 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. As
of the effective date of this Agreement, and except as disclosed in the SEC Documents, (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, notes 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 Purchaser true and correct copies
of the Company’s Certificate or Articles of Incorporation as in effect on the date hereof (“Formation Documents”), the
Company’s By-laws, as in effect on the date hereof (the “By laws”), and the terms of all securities convertible into
or exercisable for Common Stock of the Company and the material rights of the holders thereof in respect thereto.

 

d)
Issuance of Shares. The Conversion Shares are duly authorized and reserved for issuance and, upon conversion of the Note,
as the case may be, in accordance with their respective 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)
Acknowledgment of Dilution. The Company’s executive officers and directors understand the nature of the Securities being
sold hereby and recognize that the issuance of the Securities will have a potential dilutive effect on the equity holdings of
other holders of the Company’s equity or rights to receive equity of the Company. The Board of Directors of the Company has concluded,
in its good faith business judgment that the issuance of the Securities is in the best interests of the Company. The Company specifically
acknowledges that its obligation to issue the Conversion Shares upon conversion of the Notes is binding upon the Company and enforceable
regardless of the dilution such issuance may have on the ownership interests of other stockholders of the Company or parties entitled
to receive equity of the Company.

 

    	3

    	 

    

 

f)
No Conflicts. The execution, delivery and performance of this Agreement, and the Note 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 Formation Documents
or By-laws, 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, indenture, patent, patent license or instrument to which the Company or any of
its Subsidiaries is a party and that is not filed as an SEC Document or other document filed with the SEC, 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 are 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). Neither the Company nor any of its Subsidiaries is in violation of its Formation
Documents, By-laws 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 Purchaser 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 Securities
in accordance with the terms hereof and thereof and to issue the 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 is not in violation of the listing requirements of the Principal Market (as defined in
this Agreement) and does not reasonably anticipate that the Common Stock will be delisted by the Principal Market in the foreseeable
future. The Company and its Subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing.

 

    	4

    	 

    

 

g)
SEC Documents; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by it with the SEC (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”). Upon written request the Company will deliver
to the Purchaser true and complete copies of the SEC Documents, except for such exhibits and incorporated documents. As of their
respective dates, the SEC Documents complied in all material respects with the requirements of the Securities Exchange Act of
1934, as amended (“1934 Act” or “Exchange Act”), 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 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 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, 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.

 

h)
Absence of Certain Changes. Since September 30, 2019, 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.

 

i)
Absence of Litigation. 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 public filings contain a complete list and summary description of any pending or,
to the knowledge of the Company, threatened proceeding against or affecting the Company or any of its Subsidiaries, without regard
to whether it would have a Material Adverse Effect. The Company and its Subsidiaries are unaware of any facts or circumstances
which might give rise to any of the foregoing.

 

j)
Patents, Copyrights, etc. 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/or entity; 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.

 

    	5

    	 

    

 

k)
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.

 

1)
Disclosure. 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.

 

m)
Brokers. The Company hereby represents and warrants that it has not hired, retained or dealt with any broker, finder, consultant,
person, firm or corporation (“Broker”) in connection with the negotiation, execution or delivery of this Agreement or
the transactions contemplated hereunder. The Company covenants and agrees that should any claim be made against Purchaser for
any commission or other compensation by the Broker, based upon the Company’s engagement of such person in connection with this
transaction, the Company shall indemnify, defend and hold Purchaser harmless from and against any and all damages, expenses (including
attorneys’ fees and disbursements) and liability arising from such claim. The Company shall pay the commission of the Broker,
to the attention of the Broker, pursuant to their separate agreement(s) between the Company and the Broker.

 

n)
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, 2019, 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.

 

    	6

    	 

    

 

o)
Insurance. The Company and its Subsidiaries are insured by insurers of recognized financial responsibility against such
losses and risks and in such coverage, amounts as are prudent and customary in the businesses in which the Company is engaged,
including, but not limited to, directors and officer’s insurance coverage with coverage amounts that are at least equal to the
aggregate Purchase Price. Neither the Company nor any 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 without a significant increase in cost.

 

p)
No “Shell”. As of the date of this Agreement the Company is an operating company and, either (i) is not or has
never been a “shell issuer” as defined in Rule 144(i)(2) or (ii) at least 12 months have passed since the Company filed
Form 10 Type information indicating it is not a “shell issuer” (and supporting the claim that it is no longer a shell
company), filed all required reports for at least twelve consecutive months after the filing of the respective Form 10 information,
and has therefore complied with Rule 144(i)(2).

 

q)
Bad Actor. No officer or director of the Company would be disqualified under Rule 506(d) of the Securities Act as amended
on the basis of being a “bad actor”.

 

r)
Acknowledgement Regarding Purchaser’s Trading Activity. Notwithstanding anything in this Agreement or elsewhere to the
contrary it is understood and acknowledged by the Company that: (i) the Purchaser has not been asked by the Company to agree,
nor has any Purchaser agreed, to desist from purchasing or selling, securities of the Company, or “derivative” securities
based on securities issued by the Company or to hold the Securities for any specified term; (ii) each Purchaser shall not be deemed
to have any affiliation with or control over any aim’s length counter-party in any “derivative” transaction.

 

s)
Sarbanes-Oxley Act. The Company and each Subsidiary is in material compliance with all applicable requirements of the Sarbanes-Oxley
Act of 2002 that are effective as of the date hereof, and all applicable rules and regulations promulgated by the SEC thereunder
that are effective as of the date hereof.

 

4.
COVENANTS.

 

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

 

b)
Form D; Blue Sky Laws. The Company agrees when applicable to timely file a Form D with respect to the Securities as required
under Regulation D and to provide a copy thereof to the Purchaser promptly after such filing. The Company shall, on or before
the Closing Date, take such action as the Company shall reasonably determine is necessary to qualify the Securities for sale to
the Purchaser at the applicable closing pursuant to this Agreement under applicable securities or “blue sky” laws of
the states of the United States (or to obtain an exemption from such qualification), and shall provide evidence of any such action
so taken to the Purchaser on or prior to the Closing Date.

 

    	7

    	 

    

 

c)
Use of Proceeds. The Company shall use the proceeds from the sale of the Securities for general corporate purposes, marketing
and sales, product development, key personnel recruiting and business development purposes, and shall not, directly or indirectly,
use such proceeds for (i) the repayment of any debt issued in corporate finance transactions, (ii) any loan to or investment in
any other corporation, partnership, enterprise or other person (except in connection with the Company’s currently existing operations),
or (iii) any loan, credit, or advance to any officers, directors, employees, or affiliates of the Company.

 

d)
Financial Information. Upon written request of the Purchaser, the Company agrees to within (3) three days of the written
request send or make available the following reports filed with the SEC or OTC Markets Group to the Purchaser: a copy of its Annual
Report and its Quarterly Reports and any Supplemental Reports; (ii) copies of all press releases issued by the Company or any
of its Subsidiaries; and (iii) copies of any notices or other information the Company makes available or gives to such shareholders.
Notwithstanding the foregoing, the Company shall not disclose any material nonpublic information to the Purchaser without its
consent unless such information is disclosed to the public prior to or promptly following such disclosure to the Purchaser.

 

e)
Listing. The Company will obtain and, so long as the Purchaser owns any of the Securities, maintain the listing and trading
of its Common Stock on the Principal Market, 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 Purchaser copies of any notices it receives from the SEC, OTC Markets Group and any
other exchanges or quotation systems on which the Common Stock is then listed regarding the continued eligibility of the Common
Stock for listing on such exchanges and quotation systems, provided that it shall not provide any notices constituting material
nonpublic information. If at any time while the Note is outstanding the Company fails to maintain the listing and trading and
of its Common Stock, or fails in any way to comply with the Company’s reporting/ filing obligations such failure(s) will result
in liquidated damages of fifteen thousand dollars ($15,000), being immediately due and payable to Purchaser at its election in
the form of cash payment or addition to the balance of the Note.

 

f)
Corporate Existence. So long as the Purchaser beneficially owns any Securities, the Company shall 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 on Principal Market.

 

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.

 

    	8

    	 

    

 

h)
Securities Laws Disclosure; Publicity. The Company shall comply with applicable securities laws by filing a Current Report
on Form 8-K, within four (4) Trading Days following the date hereof, disclosing all the material terms of the transactions contemplated
hereby.

 

i)
Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by this
Agreement, the Company covenants and agrees that neither it nor any other person acting on its behalf will provide the Purchaser
or its agents or counsel with any information that the Company believes constitutes material non-public information, unless prior
thereto the Purchaser shall have executed a written agreement regarding the confidentiality and use of such information. The Company
understands and confirms that the Purchaser shall be relying on the foregoing covenant in effecting transactions in securities
of the

Company.

 

j)
Subsidiaries. So long as the Note remains outstanding, the Company shall not transfer any assets or rights to any of its
subsidiaries or permit any of its subsidiaries to engage in any significant business or operations, whether such subsidiaries
are currently existing or hereafter created.

 

k)
Insurance. So long as the Note remains outstanding, the Company and its Subsidiaries shall maintain in full force and effect
insurance reasonably believed by the Company to be adequate coverage (a) on all assets and activities, covering property loss
or damage and loss of income by fire or other hazards or casualty, and (b) against all liabilities, claims and risks for which
it is customary for companies similarly situated to the Company to insure, including without limitation applicable product liability
insurance, required workmen’s compensation insurance, and other insurance covering injury or damage to persons or property, but
excluding directors and officers insurance coverage. The Company shall promptly furnish or cause to be furnished evidence of such
insurance to the Purchaser, in form and substance reasonably satisfactory to the

Purchaser

 

1)
ROFR. At any time while the Note is outstanding, the Company desires to borrow funds, raise additional capital and/or issue
additional promissory notes convertible into shares of securities of the Company (a “Prospective Financing”), the Purchaser
shall have the right of first refusal to participate in the Prospective Financing, and the Company shall provide written notice
containing the terms of such Prospective Financing (the “ROFR Notice”) to the Purchaser prior to effectuating any such
transaction. The ROFR Notice shall specify all of the key te1ms of the Prospective Financing, including, but not limited to, the
proposed investment amount, the proposed rate of interest, the proposed conversion price, the proposed term of the investment,
the type and number of securities to be sold and any and all other relevant terms, each as applicable. Upon Purchaser’s receipt
of the ROFR Notice, Purchaser shall have the exclusive right to participate in such Prospective Financing(s), upon the terms specified
in the ROFR Notice, by sending written notice to the Company within seven (7) business days after Purchaser’s receipt of the ROFR
Notice. In the event Purchaser fails to exercise its right of first refusal with respect to an ROFR Notice within the time set
forth above, Purchaser shall be deemed to have waived its right of first refusal with respect to such Prospective Financing, provided
that it shall retain such right with respect to any future Prospective Financing. Notwithstanding anything contained herein, the
Company shall not furnish any material non-public information concerning the Company without the Purchaser’s prior written consent,
and shall initially only indicate to the Purchaser that the Company contemplates a financing. Notwithstanding anything contained
herein, in no event shall the Purchaser be entitled to purchase any securities which would cause the sum of (1) the number of
shares of Common Stock beneficially owned by the Purchaser and its affiliates (other than shares of Common Stock which may be
deemed beneficially owned through the ownership of the unconverted portion of the Note or the unexercised or unconverted portion
of any other security of the Company subject to a limitation on conversion or exercise analogous to the limitations contained
herein) and (2) the number of shares of directly or indirectly purchasable under this Section, to exceed 4.99% of the outstanding
shares of Common Stock (or 9.99% of the total issued Common Stock of the Company if specified by Purchaser and accompanied with
applicable documentation such as any Amendment made to this Agreement or the Note).

 

    	9

    	 

    

 

m)
Future Financings: From the date hereof until the Note is no longer outstanding, in the event the Company issues or sells
any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common
Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock
Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors
as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating
to any sale or issuance of Common Stock (the “Transaction Documents”), then at the Purchaser’s option the Transaction
Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions
(for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more
favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed
transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment
of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser
(the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”),
provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby.
If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each
day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the
first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal
amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional
principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

 

n)
Piggyback Registration Rights. Borrower shall include all shares issuable upon conversion of the Note on: (i) the next
registration statement and Regulation A offering statement Borrower files with the SEC; (ii) the subsequent registration statement
if such previous registration statement is withdrawn, (iii) the subsequent Regulation A offering statement if such previous Regulation
A offering statement is withdrawn, (iv) any amendment to any registration statement previously filed but not effective as of the
Issue Date (as defined in the Note), and (v) any amendment to any Regulation A offering statement previously filed but not qualified
as of the Issue Date. Failure to do so will result in liquidated damages of fifty percent (50%) of the outstanding principal amount
of the Note, but not less than twenty-five thousand dollars ($25,000), being immediately due and payable to Holder at its election
in the form of cash payment or addition to the balance of the Note.

 

    	10

    	 

    

 

o)
Subsequent Financings. Notwithstanding anything contained herein, if at any time while this Note is outstanding the Company
enters into any capital raising transaction, including without limitation an equity line transaction, a loan transaction or the
sale of shares of Common Stock or securities convertible into or exercisable or exchangeable for Common Stock, whether or not
permitted under the Transaction Documents (“Subsequent Financing”), then following the closing of each such Subsequent
Financing the Holder in its sole and absolute discretion may compel the Company to redeem up to the entire outstanding balance
of the Note from the gross proceeds therefrom (“Redemption Amount”), provided however (a) if the Holder is holding other
convertible notes similar to this Note whether issued prior or after the Issue Date of this Note (collectively with this Note,
the “Notes”), the Redemption Amount may be applied to redeem any or all of the Notes specified by the Holder, (b) the
Holder shall be notified in writing of the closing of each such Subsequent Financing within one (I) day following such closing,
and (c) the Holder may elect not to exercise its right to such redemption in whole or in part, in which case the Company may not
redeem any Notes in connection with such Subsequent Financing to the extent so rejected (for clarification, if the holder elects
to reject any redemption in any instance, such rejection shall not affect the Holder’s redemption rights hereunder in the future).
Further, in the event that the Holder demands redemption of a portion or the full balance of the Note within the first one hundred
eighty (180) calendar days from Issue Date of the Note, such Redemption Amount shall subject to then then applicable Prepayment
Factor, as defined in the Note shall be applied). To the extent the Company is obligated to redeem any portion of the Notes pursuant
to this Section but fails to do so, such default shall constitute an Event of Default under all the Notes.

 

p)
Additional Investment Right. Purchaser shall have the right at any time from time to time, as of the date hereof, and until
such date when the Note is no longer outstanding, to in its sole and absolute discretion purchase an additional convertible promissory
note, or additional convertible promissory notes, from the Company for up to a principal amount equal to the amount of the Note
purchased hereunder (each a “Subsequent Note” and collectively the “Subsequent Notes”) on the same terms and
conditions as applicable to the purchase and sale of the Note purchased on the date hereof by Purchaser, and in substantially
the same form and substance as the Note issued pursuant to this Agreement, mutatis mutandis, (each a “Subsequent Note
Purchase” and collectively “Subsequent Note Purchases”). For Purchaser to exercise such Subsequent Note Purchase
right, Purchaser shall deliver written notice, to the Company (for clarity notice sent via electronic mail shall satisfy such
written notice requirement) electing to exercise such Subsequent Note Purchase right, which notice shall specify the principal
amount of the Additional Note to be purchased by such Purchaser (“Subsequent Note Amount”) and the date on which such
purchase and sale shall occur (“Subsequent Note Closing”), which Subsequent Note Closing shall occur within five (5)
days following such notice by such Purchaser, or such other date mutually agreed upon by the Purchaser and Company. The terms
and conditions of any Subsequent Note Purchase shall be identical to the terms and conditions set forth in this Agreement applicable
to the sale of the Note on the date hereof, including without limitation each Subsequent Note will be in the form of the Note
issued hereto, provided that the Maturity Date thereunder shall be on ninth (9th month from
the Subsequent Note’s issue date. Further, if a warrant to purchase Company’s common stock was issued pursuant to this Agreement
then Purchaser shall receive a warrant in the form as the same form and substance as the warrant issued pursuant to this Agreement
(“Subsequent Warrant”), provided that the Termination Date of the Additional Warrant shall be the fifth (5th anniversary
from the issue date of the Subsequent Warrant. On or prior to any Subsequent Note Closing(s), the Company and the Purchaser shall,
upon Purchaser’s request, execute and deliver a new securities purchase agreement with respect to the Subsequent Note Purchase(s)
in the same form and substance as this Agreement (each a “Subsequent Purchase Agreement and collectively “Subsequent
Purchase Agreements”), mutatis mutandis, and all the representations, warranties, covenants, indemnities and conditions
set forth herein shall be included and incorporated with respect to such Note Purchase, mutatis mutandis. Purchaser may
assign its Subsequent Note Purchase right hereunder to any affiliate of such Purchaser.

 

    	11

    	 

    

 

5.
Transfer Agent Instructions. Upon receipt of a duly executed Notice of Conversion, the Company shall issue irrevocable
instructions to its transfer agent to issue certificates, registered in the name of the Purchaser or its nominee, for the Conversion
Shares in such amounts as specified from time to time by the Purchaser to the Company upon conversion of the Note, or any part
thereof, 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 and the Securities
(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, Section 4(a)(l) of the Securities
Act (“Section 4(a)(l)”), 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, and stop transfer instructions to give effect to hereof (in the case of the Conversion Shares, 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, Section 4(a)(l), or other applicable exemption without any restriction as to the number of Securities as of a particular
date that can then be immediately sold), will be given by the Company to its transfer agent and that the Securities shall otherwise
be freely transferable on the books and records of the Company as and to the extent provided in this Agreement and the Note; (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 Conversion Shares to be issued to the Purchaser upon conversion of or otherwise pursuant
to the Note as and when required by the Note and this Agreement; and (iii) it will not fail to remove (or direct its transfer
agent not to remove or impair, delay, and/or hinder 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 Purchaser upon conversion
of or otherwise pursuant to the Note as and when required by the Note and this Agreement. Nothing in this Section shall affect
in any way the Purchaser’s obligations and agreement set forth in Section 2(g) hereof to comply with all applicable prospectus
delivery requirements, if any, upon re-sale of the Securities. If the Purchaser provides 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 Purchaser
provides reasonable assurances that the Securities can be sold pursuant to Rule 144, Section 4(a)(l), or other applicable exemption,
the Company shall permit the transfer, and, in the case of the Conversion Shares, 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 Purchaser.
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Purchaser, 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 Purchaser 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.
Injunction Posting of Bond. In the event the Purchaser shall elect to convert the Note or any parts thereof, the Company
may not refuse conversion or exercise based on any claim that Purchaser or anyone associated or affiliated with Purchaser has
been engaged in any violation of law, or for any other reason. In connection with any injunction sought or attempted by the Company,
the Company shall be required to post a bond at least equal to the greater of either: (i) the outstanding principal amount of
the Note; and (ii) the market value of the Conversion Shares sought to be converted, exercised or issued, based on the sale price
per share of Common Stock on the principal market on which it is traded.

 

7.
Delivery of Unlegended Shares.

 

a)
Within one (1) business day (such first business day being the “Unlegended Shares Delivery Date”) after the business
day on which the Company has received from the Purchaser (i) a notice of conversion, (ii) a representation that the requirements
of Rule 144, Section 4(a)(l), or any other applicable exemption have been satisfied, and (iii) an opinion of counsel in form,
substance and scope customary for opinions of counsel in comparable transactions to the effect that the shares to be sold or transferred
may be sold or transferred pursuant to an exemption from such registration, the Company shall deliver such shares of Common Stock
without any legends including the legend set forth in Section 4(h) above (the “Unlegended Shares”); and (z) cause
the issuance of the Unlegended Shares to the Purchaser via express courier, by electronic transfer, or otherwise as requested
by the Purchaser, on or before the Unlegended Shares Delivery Date.

 

    	13

    	 

    

 

b)
The Company understands that a delay in the delivery of the Unlegended Shares later than the Unlegended Shares Delivery Date could
result in economic loss to the Purchaser. As compensation to Purchaser for such loss, the Company agrees to pay late payment fees
(as liquidated damages and not as a penalty) to the Purchaser for late delivery of Unlegended Shares in the amount of $250.00
per business day after the Unlegended Shares Delivery Date. If during any three hundred and sixty (360) day period, the Company
fails to deliver Unlegended Shares as required by this Section for an aggregate of thirty (30) days, then Purchaser or assignee
holding Securities subject to such default may, at its option, require the Company to redeem all or any portion of the shares
subject to such default at a price per share equal to the greater of (i) 200% of the most recent closing price of the Common Stock
or (ii) the parity value of the Default Sum to be paid (as defined in Section 3.16 of the Note) (“Unlegended Redemption
Amount”). The Company shall pay any payments incurred under this Section in immediately available funds upon demand.

 

8.
Conditions to the Company’s Obligation to Sell. The obligation of the Company hereunder to issue and sell the Note to the
Purchaser at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions 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 Purchaser shall have executed this Agreement and delivered the same to the Company.

 

b)
The Purchaser shall have delivered the Purchase Price to the Company.

 

c)
The representations and warranties of the Purchaser 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 Purchaser 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 Purchaser 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.

 

9.
Conditions to The Purchaser’s Obligation to Purchase. The obligation of the Purchaser hereunder to purchase the Note at
the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these
conditions are for the Purchaser’s sole benefit and may be waived by the Purchaser at any time in its sole discretion:

 

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

 

    	14

    	 

    

 

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

 

c)
The Irrevocable Transfer Agent Instructions, in form and substance satisfactory to the Purchaser, shall have been delivered to
and acknowledged in writing by the Company’s Transfer Agent (a copy of which written acknowledgment shall be provided to Purchaser
prior to Closing).

 

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 the 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.
The Purchaser shall have received a certificate or certificates reasonably requested by the Purchaser including, but not limited
to certificates with respect to the Company’s Formation Documents, By-laws, and Board of Directors’ resolutions relating to the
transactions contemplated hereby.

 

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.

 

g)
The Conversion Shares shall have been authorized for quotation on the Principal Market and trading of the Common Stock on the
Principal Market shall not have been suspended by the SEC or the Principal Market.

 

    	15

    	 

    

 

10.
Governing Law; Miscellaneous.

 

a)
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without
regard to principles of conflicts of laws thereof or any other State. Any action brought by any party against any other party
hereto concerning the transactions contemplated by this Agreement shall be brought only in the state courts located in the state
and county of New York or in the federal courts located in the state and county 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. The parties executing this Agreement and other
agreements referred to herein or delivered in connection herewith on behalf of the Company agree to submit to the in personam
jurisdiction of such courts and hereby irrevocably waive trial by jury. The prevailing party shall be entitled to recover
from the other party its reasonable attorney’s fees and costs. In the event that any provision of this Agreement or any other
agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such
provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with
such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity
or enforceability of any other provision of any agreement. Each party hereto hereby irrevocably waives personal service of process
and consents to process being served in any suit, action or proceeding in connection with this Agreement or any other transaction
document contemplated hereby 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)
Removal of Restrictive Legends. In the event that Purchaser has any shares of the Company’s Common Stock bearing any restrictive
legends, and Purchaser, through its counsel or other representatives, submits to the Transfer Agent any such shares for the removal
of the restrictive legends thereon in connection with a sale of such shares pursuant to any exemption to the registration requirements
under the Securities Act, and the Company and or its counsel refuses or fails for any reason (except to the extent that such refusal
or failure is based solely on applicable law that would prevent the removal of such restrictive legends) to render an opinion
of counsel or any other documents or certificates required for the removal of the restrictive legends, then the Company hereby
agrees and acknowledges that the Purchaser is hereby irrevocably and expressly authorized to have counsel to the Purchaser render
any and all opinions and other certificates or instruments which may be required for purposes of removing such restrictive legends,
and the Company hereby irrevocably authorizes and directs the Transfer Agent to, without any further confirmation or instructions
from the Company, issue any such shares without restrictive legends as instructed by the Purchaser, and surrender to a common
carrier for overnight delivery to the address as specified by the Purchaser, certificates, registered in the name of the Purchaser
or its designees, representing the shares of Common Stock to which the Purchaser is entitled, without any restrictive legends
and otherwise freely transferable on the books and records of the Company.

 

    	16

    	 

    

 

c)
Filing Requirements. From the date of this Agreement until the Notes are no longer outstanding, the Company will timely
and voluntarily comply with all reporting requirements that are applicable to an issuer with a class of shares registered pursuant
to Section 12(g) of the 1934 Act, whether or not the Company is then subject to such reporting requirements, and comply with all
requirements related to any registration statement filed pursuant to this Agreement. The Company will use reasonable efforts not
to take any action or file any document (whether or not permitted by the 1933 Act or the 1934 Act or the rules thereunder) to
terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under said acts until the
Notes are no longer outstanding. The Company will maintain the quotation or listing of its Common Stock on the OTCQX, OTCQB, OTC
Pink, New York Stock Exchange, NASDAQ Stock Market, NYSE MKT, f/k/a American Stock Exchange, or other applicable principal trading
exchange or market for the Common Stock (whichever of the foregoing is at the time the principal trading exchange or market for
the Common Stock) (the “Principal Market”), and will comply in all respects with the Company’s reporting, filing
and other obligations under the bylaws or rules of the Principal Market, as applicable. The Company will provide Purchaser with
copies of all notices it receives notifying the Company of the threatened and actual delisting of the Common Stock from any Principal
Market. As of the date of this Agreement and the Closing Date, the OTC Pink is the Principal Market. Until the Note is no longer
outstanding, the Company will continue the listing or quotation of the Common Stock on a Principal Market and will comply in all
respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the Principal Market.

 

d)
Fees and Expenses. On or prior to the Closing, the Company shall pay or reimburse to Purchaser a non-refundable, non-accountable
sum equal to $1,000.00 for the fees, costs and expenses (including without limitation due diligence and administrative expenses)
incurred by the Purchaser in connection with the Purchaser’s due diligence and negotiation of the Transaction Documents and consummation
of the Transactions. The Purchaser may withhold and offset the balance of such amount from the payment of its Purchase Price otherwise
payable hereunder at Closing, which offset shall constitute partial payment of such Purchase Price in an amount equal to such
offset. Except as expressly set forth in this Agreement, the Note, or the Disbursement Authorization to the contrary, each party
shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred
by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall
pay all transfer agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to
the Purchaser. The Disbursement Authorization includes a disbursement of $2,750.00 to Purchaser’s legal counsel for the Purchaser’s
legal fees.

 

e)
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 claim, action or proceeding that may be brought by the Purchaser in
order to enforce any right or remedy under the Note. Notwithstanding any provision to the contrary contained in herein or under
the Note, it is expressly agreed and provided that the total liability of the Company under the Note for payments 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 in the nature of interest that the Company may be obligated to pay under the Note or herein exceed such Maximum
Rate. It is agreed that if the maximum contract rate of interest allowed by law and applicable to the Note 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 the Note from the effective date 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 Purchaser
with respect to indebtedness evidenced by the Note, such excess shall be applied by the Purchaser 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 Purchaser’s election.

 

    	17

    	 

    

 

f)
Headings. The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the
interpretation of, this Agreement.

 

g)
Severability. In the event that any provision of this Agreement 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 provision hereof which may prove invalid or unenforceable under any
law shall not affect the validity or enforceability of any other provision hereof.

 

h)
Entire Agreement; Amendments. This Agreement 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 Purchaser makes any representation, warranty, covenant or undertaking with respect to such matters. No provision
of this Agreement may be waived or amended other than by an instrument in writing signed by the Purchaser.

 

i)
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, email 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 email or facsimile with accurate confirmation
generated by the transmitting facsimile machine or computer, at the address, email address or facsimile 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:

 

	Purchaser:	EMA Financial, LLC
		
	 	40 Wall Street, 17th Floor
	 	New York, NY 10005
	 	Attn: Felicia Preston
	 	Email: admin@emafin.com
	 	 
	Company:	LGBTQ Loyalty Holdings, Inc.
	 	2435 Dixie Highway
	 	Wilton Manors, FL 33305
	 	Attn: Robert Blair, Chief Executive Officer
	 	Email: info@lifeappsbrands.com

 

    	18

    	 

    

 

Each
party shall provide notice to the other party of any change in address.

 

j)
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 Purchaser 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 Purchaser may assign its rights
hereunder to any person that purchases Securities in a private transaction from the Purchaser or to any of its “affiliates,”
as that term is defined under the 1934 Act, without the consent of the Company.

 

k)
Third Patty 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.

 

I)
Survival. The representations and warranties of the Company 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 Purchaser.
The Company agrees to indemnify and hold harmless the Purchaser 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 Purchaser 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.

 

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

 

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

 

o)
Remedies. The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Purchaser by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Company acknowledges that
the remedy at law for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach
or threatened breach by the Company of the provisions of this Agreement, that the Purchaser 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 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.

 

p)
Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered
shall be deemed to be an original and all of which together shall be deemed to be one and the same agreement. Any signature transmitted
by facsimile, e-mail, or other electronic means shall be deemed to be an original signature.

 

[signature
page to follow}

 

    	19

    	 

    

 

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

 

	LGBTQ
    LOYALTY HOLDINGS, INC.	 
	 	 
	By:	 	 
	Name:	Robert
    Blair	 
	Title:	Chief
    Executive Officer	 
	 	 	 
	EMA
    FINANCIAL, LLC	 
	 	 	 
	By:	 	 
	Name:	Felicia
    Preston	 
	Title:	Director	 

 

GUARANTY

 

The
undersigned subsidiaries of the Company jointly and severally, absolutely, unconditionally and irrevocably, guarantees to the
Purchaser and their respective successors, indorsees, transferees and assigns, the prompt and complete payment and performance
by the Company when due (whether at the stated maturity, by acceleration or otherwise) of all amounts due under, and all other
obligations under, the Note. The undersigned subsidiaries’ liability under this Guaranty shall be unlimited, open and continuous
for so long as this Guaranty remains in force.

 

	LGBTQ
    Loyalty, LLC	 	Sports
    One Group Inc.
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	          	 	Name:	            
	Title:	 	 	Title:	 
	 	 	 	 	 
	LifeApps
    Inc.	 	Loyalty
    Preference Index, Inc.
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 
	*All signed by Robert Blair, CEO	 	 	 

 

    	20

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