Document:

Exhibit 10.2

 

SHARE TRANSFER AGREEMENT

 

dated as of [June 4], 2021

 

 

by and
between [Wave Sync Corp.]

(“BUYER”)

 

 

and

 

 

Hudson Capital USA Inc.

("SELLER")

 

     

     

    

 

THIS SHARE TRANSFER AGREEMENT (this
“Agreement”) is made and entered into on [ June 4 ], 2021 by and between:

 

		1.	Hudson Capital USA Inc., a company organized under the laws of the State of New York
(the “Seller”)

 

	 	 	AND

 

		2.	Wave Sync Corp., a company organized under the laws of the Delaware (the “Buyer”)

 

Each of the forgoing parties is referred to herein individually
as a “Party” and collectively as the “Parties”.

 

RECITALS

 

WHEREAS, Seller
has entered into Subscription Agreement with Montis Digital Limited (the “Company”) on May 3, 2021 and purchased the certain
shares of the Company which was as equivalent to $250,000 USD (the “Certain Shares”).

 

WHEREAS, Buyer
desires to purchase the Shares from Seller and Seller desires to sell the Shares to Buyer on the terms and subject to the conditions set
forth in this Agreement and in the agreements attached hereto (the “Transaction”).

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

 

		1.	DEFINITIONS and INTERPRETATION

 

		1.1.	Definitions.

 

As used in this Agreement, the following defined terms
shall have the meanings indicated below:

 

“Business Day” means a day other than a
Saturday, Sunday or public holiday in State of New York when banks are open for business.

 

“Closing” has the meaning ascribed to
it in Section 3. “Closing Date” has the meaning ascribed to it in Section 3.1.

 

“Company” means Montis Digital Limited,
whose registered office is at Madison Building, Midtown, Queensway, Gibraltar GX11 1AA, a company organized under the laws of the
Gibraltar;

 

“Encumbrance”
means any mortgage, charge, pledge, lien, option, restriction, right of first refusal, right of pre-emption, claim, right, interest
or preference granted to any third party, or any other encumbrance or security interest of any kind (or an agreement or commitment
to create any of the same);

 

“Governmental Authority”
means any U.S. federal, state or local, or any supra-national, governmental, regulatory or administrative authority or any court, tribunal
or judicial or arbitral body;

 

“Loss” means, without
duplication (in each case, excluding punitive, consequential, or indirect losses or damages, lost profits and diminution in value), any
and all out-of-pocket losses, liabilities, damages or expenses.

 

“Transaction” has the meaning set out
in the preamble. “USD” , “US$” means United States of American dollars. “Purchase Price” means $250,000.00
USD.

 

“Transfer Shares” means the all Certain
Shares that the Seller has purchased from the Company on May 3, 2021;

 

    2 

     

    

 

		1.2.	Interpretation

 

In this Agreement, unless the context
requires otherwise:

 

		1.2.1.	the schedule to this Agreement forms part of this Agreement and shall have effect
as if set out in full in the body of this Agreement;

 

		1.2.2.	references to this Agreement or any provision of it or any other document are to
this Agreement, that provision or that document as amended from time to time in accordance with the terms of this Agreement or that document
or otherwise with the agreement of the relevant parties;

 

		1.2.3.	references to any US legal term or any legal concept or thing shall in respect of
any jurisdiction other than US be deemed to include what most nearly approximates in that jurisdiction to the US legal term.

 

		2.	Transfer of the Transfer Shares

 

		2.1.	Transfer

 

		2.1.1.	The Seller as legal and beneficial owner shall transfer the Transfer Shares and
its all related rights and obligations to the Buyer subject to the conditions on which the Seller hold the same, and the Buyer (relying
on the representations, warranties, undertakings and indemnities contained in this Agreement) hereby agree to accept the transfer of the
Transfer Shares and its all related rights and obligations subject to the conditions aforesaid free from all Encumbrances.

 

    3 

     

    

 

		2.1.2.	The Buyer shall not be obliged to complete the transfer of any of the Transfer Shares
unless the transfer of all the Transfer Shares is completed simultaneously.

 

		2.2.	Consideration

 

The consideration for the transfer
of the Transfer Shares shall be the payment of the Purchase Price on the Closing Date by the Buyer to the Seller.

 

		3.	Closing

 

		3.1.	Closing. The consummation of the purchase and sale of the Transfer Shares at the
Closing hereunder (the “Closing”, and the date of the Closing, the “Closing Date”) shall take place remotely via
electronic exchange of documents as soon as practicable, but in no event later than three (3) Business Days after all applicable Closing
conditions specified in Section 4 hereof having been satisfied or waived, respectively, by the Buyer and the Seller (other than those
conditions that by their nature are to be satisfied at the Closing, but subject to the satisfaction or, to the extent permissible, waiver
thereof at the Closing), or at such other time and place as the Buyer and Seller may mutually agree in writing.

 

		3.2.	Actions at the Closings. At the Closing, the following actions shall take place,
all of which shall be deemed to have occurred simultaneously and no action shall be deemed to have been completed or any document delivered
until all such actions have been completed and all required documents have been delivered:

 

		3.2.1.	The Seller shall deliver to the Buyer:

 

		a.	a duly executed instrument of transfer in respect of the Transfer Shares completed
in favor of the Buyer;

 

		b.	all share certificates in respect of the Transfer Shares;

 

		c.	copies of the resolutions of the board of directors and shareholders of the Seller,
respectively, authorizing and approving (a) this Agreement and (b) the transfer of the Shares;

 

		d.	all powers of attorney or other authorities (if any) under which the instrument
of transfer in relation to the Transfer Shares have been executed, together with such other documents as may be required to give a good
title to the Transfer Shares and to enable the Buyer to become the registered holder of them; and

 

		e.	such other documents as the Buyer may reasonably request.

 

    4 

     

    

 

		3.2.2.	The Buyer shall:

 

		a.	pay and deliver the Purchase Price to the Seller in U.S. dollars by wire transfer
of immediately available funds to the Designated Bank Account as set forth in SCHEDULE 2;

 

		b.	deliver to the Seller a duly executed instrument of transfer in respect of the
Transfer Shares; and

 

		c.	deliver to the Seller the copies of the resolutions of the board of directors and
shareholders of the Buyer, respectively, authorizing and approving (a) this Agreement and (b) the transfer of the Shares.

 

		4.	Condition of Closing

 

The obligations of Buyer to wire
the Purchase Price hereunder are subject to the fulfillment, at or before the Closing (except where specifically required to be fulfilled
at Closing), of each of the following conditions, all or any of which may be waived in whole or in part by Buyer in its sole discretion:

 

		4.1.	Representations and Warranties. All representations and warranties set forth in
Article 5 and Schedule 1 shall be true and correct as of the Closing Date (except that such representations and warranties that are made
as of a specific date need only be true and correct as of such date), except where the failure of any such representations and warranties
to be true and correct has not had, individually or in the aggregate, a material adverse effect.

 

		4.2.	Performance. The Seller shall have performed and complied in all material respects
with each agreement, covenant and obligation required by this Agreement to be so performed or complied with by the Seller at or before
the Closing.

 

		4.3.	No Injunctions or Restraints. No Governmental Authority of competent jurisdiction
shall have enacted, issued, promulgated or enforced any law or preliminary or permanent injunction or other Order which is in effect and
which restrains, enjoins or otherwise prohibits the validity or legality of the Transaction contemplated by this Agreement.

 

		4.4.	Both Parties has signed this Agreement in accordance with this Agreement.

 

		5.	Warranties

 

		5.1.	Warranties and representations

 

		5.1.1.	The Seller:

 

		a.	the representations and warranties to the Buyer in this Agreement shall be true
and correct in all respects and not misleading in any respect as of the Closing Date as though made as of such Closing Date (except that
those representations and warranties that address matters only as of a particular date shall have
been true and correct in all material respects as of such date); and

 

    5 

     

    

 

		b.	acknowledges that the Buyer has entered into this Agreement in reliance on, among
other things, the Warranties.

 

		5.1.2.	The Seller shall indemnify the Buyer and keep it indemnified against all claims,
damages, losses, outgoings and liabilities whatsoever which may arise out of any breach of the Warranties, together with all costs, charges,
interest, penalties and expenses relating thereto.

 

		5.2.	Warranties separate

 

Each of the paragraphs in the Schedule
1:

 

		5.2.1.	shall be construed as a separate and independent warranty and representation; and

 

		5.2.2.	unless expressly provided in this Agreement, shall not be limited by reference
to another paragraph of the Schedule or by any other provision of this Agreement and the Buyer shall have a separate claim and right of
action in respect of every breach of a Warranty.

 

		6.	Tax

 

All sums payable, or consideration
given by the Buyer under this agreement are inclusive of any Taxes imposed under the law of the State of New York.

 

		7.	TERMINATION

 

		7.1.	Termination by Both Buyer and Seller. This Agreement may be terminated and the
transactions contemplated hereby may be abandoned at any time prior to Closing by mutual written agreement of Seller and Buyer.

 

		7.2.	Effect of Termination. If validly terminated pursuant to Sections 6.1, this Agreement
shall forthwith become null and void and of no further force and effect (other than the provisions of Section 1 (Definitions and Interpretation),
this Section 7 (Termination) and Section 10 (Miscellaneous), all of which shall survive termination of this Agreement), and there shall
be no liability on the part of Buyer or Seller, provided, however, that no such termination will relieve any Party from liability for
any fraud or intentional breach of this Agreement prior to the date of such termination.

 

		8.	RIGHTS AND REMEDIES

 

Except as expressly provided in
this agreement, the rights and remedies provided under this agreement are in addition to, and not exclusive of, any rights or remedies
provided by law.

 

    6 

     

    

 

		9.	DISPUTE RESOLUTION

 

		9.1.	Governing Law. This Agreement shall be governed and interpreted in accordance with
the laws of the State of New York and the obligations, rights and remedies of the parties hereunder shall be determined in accordance
with such laws.

 

		9.2.	Dispute Resolution. With respect to any claim arising out of this Agreement, each
party irrevocably submits to the exclusive jurisdiction of the courts of the State of New York, and each party irrevocably waives any
objection which it may have at any time to the laying of venue of any suit, action or proceeding arising out of or relating hereto brought
in any such courts, irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in
any inconvenient forum and further irrevocably waives the right to object, with respect to such claim, suit, action or proceeding brought
in any such court, that such court does not have jurisdiction over such party, provided that service of process has been made by any lawful
means.

 

		10.	MISCELLANEOUS

 

		10.1.	Notices. All notices and other communications hereunder shall be in writing and
shall be deemed duly delivered (a) when delivered by hand, if personally delivered, (b) one Business Day after being sent for next Business
Day delivery, fees prepaid, when sent via a reputable nationwide overnight courier service, or the second Business Day after being sent
for two-Business Day delivery, fees prepaid, when sent internationally via a reputable international courier service, (c) when sent by
facsimile, on the date an acknowledgment of sending is produced by the sending facsimile machine, or the first Business Day following
such acknowledgment if the date of such acknowledgment is not a Business Day, (d) when sent via email (except where a notice is received
stating that such mail had not been successfully delivered) on the date of transmission, or the first Business Day following such transmission
if the date of such transmission is not a Business Day – in each case to the intended recipient as set forth below:

 

	 	If to the Seller:	 
	 	Hudson Capital USA Inc.	 
	 	 	 
	 	[CONTACT PERSON]; Warren Wang	 
	 	[ADRESS]; 22 witte pl, west orange, NJ 07052	 
	 	[E-mail] : warren@hudsoncapitalusa.com	 

 

    7 

     

    

 

	 	If to the Buyer:	 
	 	Wave Sync Corp.	 
	 	 	 
	 	[CONTACT PERSON] :Honman Yun	 
	 	[ADRESS] :19 W 44th St, Suite 1001, New York NY 10036	 
	 	[E-mail]: man@pxspac.com	 

 

Any Party to this Agreement may
give any notice or other communication hereunder using any other means (including messenger service or ordinary mail), but no such notice
or other communication shall be deemed to have been duly given unless and until it is actually received by the Party for whom it is intended.
Any Party to this Agreement may change the address to which notices and other communications hereunder are to be delivered by giving the
other Parties to this Agreement notice in the manner herein set forth.

 

		10.2.	Entire Agreement. This Agreement, together with all Schedules hereto and the other
Transaction Documents constitute the entire understanding among the Parties with respect to the subject matter hereof and thereof, and
supersede all other understandings and negotiations with respect thereto.

 

		10.3.	Waiver. Any term or condition of this Agreement may be waived at any time by the
Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed
by or on behalf of the Party waiving such term or condition. No waiver by any Party of any term or condition of this Agreement, in any
one or more instances, shall be deemed to be or construed as a waiver of the same or any other term or condition of this Agreement on
any future occasion.

 

		10.4.	Amendment. This Agreement may be amended, supplemented or modified only by a written
instrument duly executed by or on behalf of the Buyer and Seller.

 

		10.5.	Assignment. No Party to this Agreement may assign its rights or delegate any or
all of its obligations under this Agreement without the express prior written consent of each of the other Parties to this Agreement (which
consent may be granted or withheld in such Parties’ sole discretion).

 

		10.6.	Expenses. Except as otherwise expressly provided in this Agreement, whether or
not the transactions contemplated hereby are consummated, each Party will pay its own costs and expenses.

 

		10.7.	Headings. The headings used in this Agreement have been inserted for convenience
of reference only and do not define or limit the provisions hereof.

 

    8 

     

    

 

		10.8.	Invalid Provisions; Severability. If any provision of this Agreement is held to
be illegal, invalid or unenforceable under any present or future Law, and if the rights or obligations of any Party hereto under this
Agreement will not be materially and adversely affected thereby, (a) such provision will be fully severable, (b) this Agreement will be
construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part hereof, (c) the remaining provisions
of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or
by its severance herefrom and (d) in lieu of such illegal, invalid or unenforceable provision, there will be added automatically as a
part of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable provision
as may be possible.

 

		10.9.	Counterparts. This Agreement may be executed in one or more counterparts, all of
which shall be considered one and the same agreement, and shall become effective when each Party hereto shall have received counterparts
hereof signed by each of the other Parties. If any signature is delivered by facsimile transmission or by PDF, such signature shall create
a valid and binding obligation of the Party executing (or on whose behalf the signature is executed) with the same force and effect as
if such facsimile or PDF signature were an original thereof.

 

[Signature page follows]

 

    9 

     

    

 

THIS AGREEMENT has been executed on the date stated at the
beginning.

 

	Hudson Capital USA Inc.	 
	 	 	 
	By:	/s/ Warren Wang	 
	 	Name:	Warren Wang	 
	 	Title: CEO	 

 

	Wave Sync Corp.	 
	 	 	 
	By:	/s/ Honman Yun	 
	 	Name:	Honman Yun	 
	 	Title: CFO	 

 

    10 

     

    

 

Schedule 1

 

The Warranties

 

The Seller warrants and represents to the Buyer that:

 

		11.	Transfer Shares

 

		11.1.	It is the sole legal and beneficial owner of the Transfer Shares.

 

		11.2.	There is no Encumbrance on, over or affecting the Transfer Shares and no person
has made any claim to be entitled to any right over or affecting the Transfer Shares.

 

		12.	Powers and obligations of the Seller

 

		12.1.	It has the right, power and authority and has taken all action necessary to execute
and deliver and to exercise its rights and perform its obligations under this Agreement and each document to be executed at or before
Completion.

 

		12.2.	Where necessary this Agreement constitutes and the other documents to be executed
by it and delivered at Closing will, when executed, constitute legal, valid and binding obligations of it enforceable in accordance with
their respective terms.

 

		12.3.	It is entitled to transfer the full legal and beneficial ownership in the Transfer
Shares to the Buyer on the terms set out in this Agreement.

 

		12.4.	No consent, authorization, license or approval of or notice to Governmental Authority
or any other person is required to authorize the execution, delivery, validity, enforceability or admissibility in evidence of this Agreement
or the performance by it of its obligations under this Agreement. Nor will it be required as a consequence of this Agreement.

 

		13.	Solvency

 

		13.1.	No order has been made and no resolution has been passed for the winding up of it
or for a provisional liquidator to be appointed in respect of it and no petition has been presented and no meeting has been convened for
the purpose of the winding up of it.

 

		13.2.	No receiver (which expression shall include an administrative receiver) has been
appointed in respect of it or in respect of all or any part of its assets.

 

		13.3.	It is not insolvent or unable to pay its debts and neither has it stopped paying
its debts as they fall due.

 

		13.4.	No composition in satisfaction of the debts of it or scheme of arrangement of its
affairs or compromise or arrangement between it and its creditors or members or any class of its creditors or members has been proposed,
sanctioned or approved, and no step is or has been taken to do any of those things.

 

		13.5.	No event analogous to any of the foregoing in respect of it has occurred in or outside
the USA.

 

		13.6.	No circumstances have arisen which are likely to result in a transaction to which
it is a party being set aside.

 

		13.7.	No unsatisfied judgment is outstanding against it.

 

    11 

     

    

 

Schedule 2

Designated Bank Account

 

Bank Wire Instructions of the Seller - The
Designated Bank Accounts for the Buyer to pay and deliver the Purchase Price to the Seller in accordance with Section 3.22 (a) of
the Agreement are as follows:

 

	Beneficiary Name: Hudson Capital USA INC.
	Beneficiary
Account Number: 655935735
	 
	Bank Routing Number (Domestic Wire): 1222-0395-0
	 
	Bank
Routing (International)/SWIFT: CATHUS6L
	 
	Receiving Bank Name: Cathay Bank
	 
	Receiving Bank Address: 4128 Temple City Blvd, Rosemead,
CA 91770

 

 

12grove_ex41.htm

EXHIBIT 4.1
  
 Execution Copy
  
 THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.
  
 THE REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) EF HUTTON, DIVISION OF BENCHMARK INVESTMENTS, LLC OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING (DEFINED BELOW), OR (II) A BONA FIDE OFFICER OF EF HUTTON, DIVISION OF BENCHMARK INVESTMENTS, LLC OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER.
  
 THIS PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO THE INITIAL EXERCISE DATE (DEFINED BELOW). VOID AFTER 5:00 P.M., EASTERN TIME, ON THE EXPIRATION DATE (DEFINED BELOW).
  
 	 Warrant Shares: 50,600 
	  
	 Initial Exercise Date: December 21, 2021

    
 COMMON STOCK PURCHASE WARRANT
  
 For the Purchase of 50,600 Shares of Common Stock
  
 of
  
 GROVE, INC.
  
 1. Purchase Warrant. THIS CERTIFIES THAT, in consideration of funds duly paid by or on behalf of EF HUTTON, DIVISION OF BENCHMARK INVESTMENTS, LLC, or its designees (the “Holder”), as registered owner of this purchase warrant (“Purchase Warrant”), to Grove, Inc., a Nevada corporation (the “Company”), Holder is entitled, at any time or from time to time from the date hereof (the “Initial Exercise Date”), and at or before 5:00 p.m., Eastern time, June 24, 2026 (the “Expiration Date”), but not thereafter and subject to redemption, at the sole discretion of the Company, pursuant to Section 6 herein, to subscribe for, purchase and receive, in whole or in part, up to Fifty Thousand Six Hundred (50,600) shares of common stock, par value $0.001 per share (the “Common Stock”), of the Company, subject to adjustment as provided in Section 7 hereof (the “Shares”). If the Expiration Date is a day on which banking institutions are authorized by law to close, then this Purchase Warrant may be exercised on the next succeeding day, which is not such a day in accordance with the terms herein. This Purchase Warrant is initially exercisable at $6.25 per Share; provided, however, that upon the occurrence of any of the events specified in Section 7 hereof, the rights granted by this Purchase Warrant, including the exercise price per Share and the number of Shares to be received upon such exercise, shall be adjusted as therein specified. The term “Exercise Price” shall mean the initial exercise price or the adjusted exercise price, depending on the context. The term “Effective Date” shall mean June 23, 2021, the date the Company’s Registration Statement on Form S‐1 (File No. 333‐255266) (the “Registration Statement”) was declared effective by the Securities and Exchange Commission (the “Commission”) (and the offering covered thereby, the “Offering”).
   
 	 
	1
	

	 

     
 2. Exercise.
  
 2.1 Exercise Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed and delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or official bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented hereby shall cease and expire.
  
 2.2 Cashless Exercise. If at any time after the Initial Exercise Date there is no effective registration statement registering, or no current prospectus available for, the resale of the Shares by the Holder, then in lieu of exercising this Purchase Warrant by payment of cash or check payable to the order of the Company pursuant to Section 2.1 above, Holder may elect to receive the number of Shares equal to the value of this Purchase Warrant (or the portion thereof being exercised), by surrender of this Purchase Warrant to the Company, together with the exercise form attached hereto, in which event the Company shall issue to Holder, Shares in accordance with the following formula:
  
 	  
	 X
	 =
	 Y(A‐B)
	
	  
			 A 
	

  
 Where,
  
 		 X
	 =
	 The number of Shares to be issued to Holder;

		 Y
	 =
	 The number of Shares that would be issuable to Holder upon exercise of this Purchase Warrant in accordance with the terms hereof if such exercise were by means of a cash exercise rather than a cashless exercise;

		 A
	 =
	 The Fair Market Value (as hereinafter defined) of one Share; and

		 B 
	 =
	 The Exercise Price, as adjusted hereunder.

  
 For purposes of this Section 2.2, the “Fair Market Value” of a Share is defined as follows:
  
 		 (i)
  
	 if the Common Stock is traded on a securities exchange, the value shall be deemed to be the daily volume weighted average price per share of the Common Stock on such exchange over the period of fifteen (15) trading days immediately prior to the exercise form being submitted in connection with the exercise of this Purchase Warrant;

		 (ii)
  
	 if the Common Stock is actively traded over‐the‐counter, the value shall be deemed to be the closing bid price per share of the Common Stock immediately prior to the exercise form being submitted in connection with the exercise of this Purchase Warrant; or

		 (iii)
	 if there is no active public market, the value shall be the fair market value thereof, as determined in good faith by the Company’s Board of Directors.

   
 	 
	2
	

	 

     
 2.3 Legend. Each certificate for the securities purchased under this Purchase Warrant shall bear a legend as follows unless such securities have been registered under the Securities Act of 1933, as amended (the “Securities Act”):
  
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR APPLICABLE STATE LAW. NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE STATE LAW WHICH, IN THE OPINION OF COUNSEL TO THE COMPANY, IS AVAILABLE.”
  
 3. Transfer.
  
 3.1 General Restrictions. The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that such Holder will not: (a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant or the securities issuable hereunder for a period of one hundred eighty (180) days following the Effective Date (the “Lock‐Up Period”) to anyone other than: (i) EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”) or an underwriter or a selected dealer participating in the Offering, or (ii) a bona fide officer of EF Hutton or of any such underwriter or selected dealer, each of whom in (i) and (ii) shall have agreed to the restrictions contained herein, in accordance with FINRA Rule 5110(e)(1); or (b) cause this Purchase Warrant or the securities issuable hereunder to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of this Purchase Warrant or the securities hereunder during the Lock‐Up Period, except as provided for in FINRA Rule 5110(e)(2). After the Lock‐Up Period, transfers to others may be made subject to compliance with or exemptions from applicable securities laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed and completed, together with this Purchase Warrant and payment of all transfer taxes, if any, payable in connection therewith. The Company shall within five (5) business days transfer this Purchase Warrant on the books of the Company and shall execute and deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s) expressly evidencing the right to purchase the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated by any such assignment.
  
 3.2 Restrictions Imposed by the Securities Act. The securities evidenced by this Purchase Warrant shall not be transferred unless and until: (i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration under the Securities Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the Company (the Company hereby agreeing that the opinion of Carmel, Milazzo & Feil LLP shall be deemed satisfactory evidence of the availability of an exemption).
  
 3.3 Ownership of Warrants. The Company may treat the registered holder of this Purchase Warrant in the books of the Company as the owner and holder thereof for all purposes, notwithstanding any notice to the contrary, except that, if and when this Purchase Warrant is properly assigned in blank, the Company may (but shall not be obligated to) treat the bearer thereof as the owner of this Purchase Warrant for all purposes, notwithstanding any notice to the contrary.
  
 4. Registration Rights.
  
 4.1 Demand Registration.
  
 4.1.1. Grant of Right. Subject to the further requirements of this Section 4.1.1, the Company, upon written demand (a “Demand Notice”) of the Holders of at least 51% of the Purchase Warrants and/or the underlying Shares, agrees to register, on one occasion, all or any portion of the Shares underlying the Purchase Warrants (excluding any Shares which have been transferred and the subsequent disposition thereof no longer requires registration or qualification under the Securities Act or any similar state law then in force) (collectively, the “Registrable Securities”). For the purpose of this Section 4, the term “Registrable Securities” shall not include Shares that have been transferred and the subsequent disposition thereof no longer requires registration or qualification under the Securities Act or any similar state law then in force. On such occasion, the Company will file a registration statement with the Commission covering the Registrable Securities within sixty (60) days after receipt of a Demand Notice and use its reasonable best efforts to have the registration statement declared effective promptly thereafter, subject to compliance with review by the Commission; provided, however, that the Company shall not be required to comply with a Demand Notice if (a) the Registration Statement is still in effect or (b) the Company has filed a registration statement with respect to which the Holder is entitled to “piggyback” registration rights pursuant to Section 4.2 hereof and either: (i) the Holder has elected to participate in the offering covered by such registration statement or (ii) if such registration statement relates to an underwritten primary offering of securities of the Company, until the offering covered by such registration statement has been withdrawn or until thirty (30) days after such offering is consummated. No more than one (1) Demand Notice may be delivered during the period beginning on the Initial Exercise Date and ending on the third anniversary thereof. The Company covenants and agrees to give written notice of its receipt of any Demand Notice by any Holders to all other registered Holders of the Purchase Warrants and/or the Registrable Securities within ten (10) days after the date of the receipt of any such Demand Notice.
   
 	 
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 4.1.2. Terms. The Company shall bear all fees and expenses attendant to the registration of the Registrable Securities pursuant to Section 4.1.1, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities. The Company agrees to use commercially reasonable efforts to cause the filing required herein to become effective promptly and to qualify or register the Registrable Securities in such states as are reasonably requested by the Holders; provided, however, that in no event shall the Company be required to register the Registrable Securities in a State in which such registration would cause: (i) the Company to be obligated to register or license to do business in such State or submit to general service of process in such State, or (ii) the principal stockholders of the Company to be obligated to escrow their shares of capital stock of the Company. The Company shall cause any registration statement filed pursuant to a Demand Notice to remain effective for a period of at least twelve (12) consecutive months after the date that the Holders of the Registrable Securities covered by such registration statement are first given the opportunity to sell all of their respective Registrable Securities. The Holders shall only use the prospectuses provided by the Company to sell the shares covered by such registration statement, and will immediately cease to use any prospectus furnished by the Company if the Company advises the Holder that such prospectus may no longer be used due to a material misstatement or omission. Notwithstanding the provisions of this Section 4.1.2, the Holder shall be entitled to deliver a Demand Notice on only one (1) occasion and the right to deliver such a Demand Notice, and the obligation of the Company to register the Registrable Securities, shall terminate on the third anniversary of the Initial Exercise Date.
  
 4.2 “Piggyback” Registration.
  
 4.2.1. Grant of Right. In addition to the rights described in Section 4.1 hereof, the Holder shall have the right, for a period of no more than seven (7) years from the Effective Date in accordance with FINRA Rule 5110(g)(8)(D), to include the Registrable Securities as part of any other registration of securities filed by the Company (other than in connection with a transaction contemplated by Rule 145(a) promulgated under the Securities Act or pursuant to Form S‐8 or any equivalent form); provided, however, that if, solely in connection with any primary underwritten public offering for the account of the Company, the managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number of shares of Common Stock which may be included in the registration statement because, in such underwriter(s)’ judgment, marketing or other factors dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to include in such registration statement only such limited portion of the Registrable Securities with respect to which the Holder requested inclusion hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holders seeking to include Registrable Securities in proportion to the number of Registrable Securities sought to be included by such Holders; provided, however, that the Company shall not exclude any Registrable Securities unless the Company has first excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities in such registration statement or are not entitled to pro rata inclusion with the Registrable Securities.
  
 4.2.2. Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section 4.2.1 hereof, but the Holders shall pay any and all underwriting commissions and fees and the expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company shall furnish the Holders of then outstanding Registrable Securities with not less than thirty (30) days’ written notice prior to the anticipated effective date of such registration statement. The Company shall furnish such notices to the Holders for each registration statement filed by the Company until all of the Registrable Securities have been sold by the Holders. The Holders then outstanding Registrable Securities of shall exercise the “piggyback” rights provided for herein by giving written notice within ten (10) days of the receipt of the Company’s notice of the anticipated effective date of the registration statement. Except as otherwise provided in this Purchase Warrant, there shall be no limit on the number of times the Holders may request registration under this Section 4.2; provided, however, that such registration rights shall terminate on the seventh anniversary of the Effective Date.
   
 	 
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 4.3 General Terms.
  
 4.3.1. Indemnification. The Company shall indemnify the Holders of the Registrable Securities to be sold pursuant to any registration statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act or Section 20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under the Securities Act, the Exchange Act or otherwise, arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant to which the Company has agreed to indemnify EF Hutton pursuant to the Underwriting Agreement between EF Hutton and the Company, dated as of June 23, 2021. The Holders of the Registrable Securities to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may become subject under the Securities Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns, in writing, for specific inclusion in such registration statement to the same extent and with the same effect as the indemnification provisions of the Underwriting Agreement pursuant to which Kingwood has agreed to indemnify the Company.
  
 4.3.2. Exercise of Purchase Warrants. Nothing contained in this Purchase Warrant shall be construed as requiring the Holders to exercise their Purchase Warrants prior to or after the initial filing of any registration statement or the effectiveness thereof.
  
 4.3.3. Documents Delivered to Holders. If the sale by the Holders is an underwritten offering, the Company shall furnish to the Holders participating in such offering and each underwriter of any such offering, a signed counterpart, addressed to such Holder or underwriter, of: (i) an opinion of counsel to the Company dated the date of the closing (under any underwriting agreement related thereto), and (ii) a “cold comfort” letter dated the date of the closing (under any underwriting agreement related thereto) signed by the independent registered public accounting firm which has issued a report on the Company’s financial statements included in such registration statement, in each case covering substantially the same matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants’ letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to underwriters in underwritten public offerings of securities. The Company shall also deliver promptly to each Holder participating in the offering requesting the correspondence and memorandums described below and to the managing underwriter, if any, copies of all correspondence between the Commission and the Company, its counsel or auditors and all memorandums relating to discussions with the Commission or its staff with respect to the registration statement and permit each Holder and underwriter to do such investigation, upon reasonable advance notice, with respect to information contained in or omitted from the registration statement as it deems reasonably necessary to comply with applicable securities laws or rules of FINRA. Such investigation shall include access to books, records and properties and opportunities to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent and at such reasonable times as any such Holder shall reasonably request.
  
 4.3.4. Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected by any Holders whose Registrable Securities are being registered pursuant to this Section 4, which managing underwriter shall be reasonably satisfactory to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder and such managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option, require that any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties to or agreements with the Company or the underwriters except as they may relate to such Holders, their Shares and their intended methods of distribution.
   
 	 
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 4.3.5. Documents to be Delivered by Holders. Each of the Holders participating in any of the foregoing offerings shall furnish to the Company a completed and executed questionnaire provided by the Company requesting information customarily sought of selling security holders.
  
 4.3.6. Damages. Should the registration or the effectiveness thereof required by Sections 4.1 and Section 4.2 hereof be delayed by the Company or the Company otherwise fails to comply with such provisions, the Holders shall, in addition to any other legal or other relief available to the Holders, be entitled to obtain specific performance or other equitable (including injunctive) relief against the threatened breach of such provisions or the continuation of any such breach, without the necessity of proving actual damages and without the necessity of posting bond or other security.
  
 5. New Purchase Warrants to be Issued.
  
 5.1 Partial Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised or assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or transfer tax if exercised pursuant to Section 2.1 hereto, the Company shall cause to be delivered to the Holder without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase the number of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised or assigned.
  
 5.2 Lost Certificate. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Warrant of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute a substitute contractual obligation on the part of the Company.
  
 6. Redemption.
  
 6.1 Redemption. Subject to Section 6.3, not less than all of the outstanding Purchase Warrants may be redeemed, at the option of the Company, at any time while they are exercisable and prior to their expiration, at the office of the Company, upon notice to the Holder(s) of the Purchase Warrants, as described in Section 6.2, at the price equal to 200% of the Exercise Price then in effect (the “Redemption Price”).
  
 6.2 Date Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Purchase Warrants, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (such 30‐day period, the ”Redemption Period”) to the Holders of the Purchase Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Holder received such notice.
  
 6.3 Exercise After Notice of Redemption. The Purchase Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section 2.2 of this Purchase Warrant) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date. In the event that the Company determines to require all Holders of Purchase Warrants to exercise their Purchase Warrants on a “cashless basis” pursuant to Section 2.2, the notice of redemption shall contain the information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Purchase Warrants, including the Fair Market Value (as such term is defined in Section 2.2 hereof) in such case. On and after the Redemption Date, the record holder of the Purchase Warrants shall have no further rights except to receive, upon surrender of the Purchase Warrants, the Redemption Price.
   
 	 
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 7. Adjustments.
  
 7.1 Adjustments to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Warrant shall be subject to adjustment from time to time as hereinafter set forth:
  
 7.1.1. Share Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 7.3 below, the number of outstanding Shares is increased by a stock dividend payable in Shares or by a split up of Shares or other similar event, then, on the effective day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Shares, and the Exercise Price shall be proportionately decreased.
  
 7.1.2. Aggregation of Shares. If, after the date hereof, and subject to the provisions of Section 7.1.3 below, the number of outstanding Shares is decreased by a consolidation, combination or reclassification of Shares or other similar event, then, on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in outstanding Shares, and the Exercise Price shall be proportionately increased.
  
 7.1.3. Replacement of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Shares other than a change covered by Sections 7.1.1 or 7.1.2 hereof or that solely affects the par value of such Shares, or in the case of any share reconstruction or amalgamation or consolidation of the Company with or into another corporation (other than a consolidation or share reconstruction or amalgamation in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding Shares), or in the case of any sale or conveyance to another corporation or entity of the property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Holder of this Purchase Warrant shall have the right thereafter (until the expiration of the right of exercise of this Purchase Warrant) to receive upon the exercise hereof, for the same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, share reconstruction or amalgamation, or consolidation, or upon a dissolution following any such sale or transfer, by a holder of the number of Shares of the Company issuable upon exercise of this Purchase Warrant immediately prior to such event; and if any reclassification also results in a change in Shares covered by Section 7.1.1 or 7.1.2, then such adjustment shall be made pursuant to Sections 7.1.1, 7.1.2 and this Section 7.1.3. The provisions of this Section 7.1.3 shall similarly apply to successive reclassifications, reorganizations, share reconstructions or amalgamations, or consolidations, sales or other transfers.
  
 7.1.4. Changes in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section 7.1 and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Shares as are stated in the Purchase Warrants initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Purchase Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Initial Exercise Date or the computation thereof.
  
 7.2 Substitute Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company with or into, another corporation (other than a consolidation or share reconstruction or amalgamation which does not result in any reclassification or change of the outstanding Shares), the corporation formed by such consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that the Holder of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount of shares of stock and other securities and property receivable upon such consolidation or share reconstruction or amalgamation, by a holder of the number of Shares for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall be identical to the adjustments provided for in this Section 7. The above provision of this Section 7 shall similarly apply to successive consolidations or share reconstructions or amalgamations.
   
 	 
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 7.3 Elimination of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares upon the exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be, to the nearest whole number of Shares or other securities, properties or rights.
  
 8. Reservation and Listing. The Company shall at all times reserve and keep available out of its authorized Shares, solely for the purpose of issuance upon exercise of the Purchase Warrants, such number of Shares or other securities, properties or rights as shall be issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Warrants and payment of the Exercise Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall be duly and validly issued, fully paid and non‐assessable and not subject to preemptive rights of any stockholder. As long as the Purchase Warrants shall be outstanding, the Company shall use its commercially reasonable efforts to cause all Shares issuable upon exercise of the Purchase Warrants to be listed (subject to official notice of issuance) on all national securities exchanges (or, if applicable, on the OTC Bulletin Board or any successor trading market) on which the Shares issued to the public in the Offering may then be listed and/or quoted.
  
 9. Certain Notice Requirements.
  
 9.1 No Rights as Stockholder. No Holder shall be entitled to vote or receive dividends or distributions or be deemed the holder of any equity securities which may at any time be issuable on the exercise hereof, nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value, consolidation, merger, conveyance, or otherwise) or to receive notice of meetings, or to receive dividends or distributions, or to share in the assets of the Company in the event of a liquidation, dissolution or the winding up of the Company, until the Purchase Warrant shall have been exercised and the Shares shall have become deliverable, as provided herein.
  
 9.2 Certain Notices. If at any time prior to the expiration of the Purchase Warrants and their exercise, any of the events described in Section 9.3 shall occur, then, in one or more of said events, the Company shall give written notice of such event at least fifteen (15) days prior to the date fixed as a record date or the date of closing the transfer books for the determination of the stockholders entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given to the other stockholders of the Company at the same time and in the same manner that such notice is given to the stockholders.
  
 9.3 Events Requiring Notice. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company (and all of its subsidiaries, taken as a whole) is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email address as it shall appear upon the warrant register of the Company, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided in this Purchase Warrant constitutes, or contains, material, nonpublic information regarding the Company or any of the subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8‐K. The Holder shall remain entitled to exercise this Purchase Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.
   
 	 
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 9.4 Notice of Change in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section 7 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall describe the event causing the change and the method of calculating same and shall be certified as being true and accurate by the Company’s Chief Financial Officer.
  
 9.5 Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall be deemed to have been duly made when hand delivered or mailed by express mail or private courier service: (i) if to the registered Holder of this Purchase Warrant, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company, to following address or to such other address as the Company may designate by notice to the Holders:
  
 If to the Holder:
  
 EF Hutton, 
 division of Benchmark Investments, LLC
590 Madison Avenue, 39th Floor
 New York, NY 10022
Attn: Edward Tsuker
 Head of Capital Markets
 Tel: (516) 602‐9922
 E: etsuker@efhuttongroup.com
  
 with a copy (which shall not constitute notice) to:
  
 Carmel Milazzo & Feil LLP
 55 West 39th Street, 18th Floor
 New York, NY 10018
 Attn: Ross D. Carmel, Esq.
 Tel: 212‐658‐0458
 Fax: 646‐838‐1314
  
 If to the Company:
  
 Grove, Inc.
 1710 Whitney Mesa Drive
 Henderson, NV 89014
 Attn: Andrew J. Norstrud, CFO
 Tel: (701) 353‐5425
  
 with a copy (which shall not constitute notice) to:
  
 Greenberg Traurig, LLP
 1201 K Street, Suite 110
 Sacramento, CA 95814
 Attn: Mark Lee, Esq.
 Tel: (916) 868‐0630
 Fax: (916) 448‐1709
   
 	 
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 10. Miscellaneous.
  
 10.1 Amendments. The Company and EF Hutton may from time to time supplement or amend this Purchase Warrant without the approval of any of the Holders in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company and EF Hutton may deem necessary or desirable and that the Company and EF Hutton deem shall not adversely affect the interest of the Holders. All other modifications or amendments shall require the written consent of and be signed by the party against whom enforcement of the modification or amendment is sought.
  
 10.2 Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Warrant.
  
 10.3 Entire Agreement. This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.
  
 10.4 Binding Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions herein contained.
  
 10.5 Governing Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant shall be brought and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.
  
 10.6 Waiver, etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase Warrant. No waiver of any breach, non‐compliance or non‐fulfillment of any of the provisions of this Purchase Warrant shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non‐compliance or non‐fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non‐compliance or non‐fulfillment.
  
 10.7 Execution in Counterparts. This Purchase Warrant may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic transmission.
  
 10.8 Exchange Agreement. As a condition of the Holder’s receipt and acceptance of this Purchase Warrant, Holder agrees that, at any time prior to the complete exercise of this Purchase Warrant by Holder, if the Company and EF Hutton enter into an agreement (“Exchange Agreement”) pursuant to which they agree that all outstanding Purchase Warrants will be exchanged for securities or cash or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.
  
 [SIGNATURE PAGE FOLLOWS]
   
 	 
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 IN WITNESS WHEREOF, the Company has caused this Purchase Warrant to be signed by its duly authorized officer as of the 28th day of June 2021.
  
 		 GROVE, INC.
	  

				  

		 By:
		  

			 Name: Allan Marshall
 Title: Chief Executive Officer 
	  

  
 [SIGNATURE PAGE TO REPRESENTATIVE’S WARRANT]
    
 	 
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 [Form to be used to exercise Purchase Warrant]
  
 EXERCISE FORM
  
 Date: __________, 20___
  
 	 1. 
	 The undersigned hereby elects irrevocably to exercise the Purchase Warrant for ______ shares of common stock, par value $0.001 per share (the “Shares”), of Grove, Inc., a Nevada corporation (the “Company”), and hereby makes payment of $____________ (at the rate of $_____________________ per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been exercised.

	  
	  

	  
	 OR

	  
	  

	  
	 The undersigned is entitled to pursuant to Section 2.2 of the Purchase Warrant, and hereby elects irrevocably, to convert its right to purchase _______________ Shares of the Company under the Purchase Warrant for ________________ Shares, as determined in accordance with the following formula:

      
 Where,
  
 		 X
	 =
	 The number of Shares to be issued to Holder;

		 Y
	 =
	 The number of Shares that would be issuable to Holder upon exercise of the Purchase Warrant in accordance with the terms thereof if such exercise were by means of a cash exercise rather than a cashless exercise;

		 A
	 =
	 The Fair Market Value (as defined in the Purchase Warrant) of one Share; and

		 B
	 =
	 The Exercise Price, as adjusted pursuant to Section 7 of the Warrant.

    
 	  
	 The undersigned agrees and acknowledges that the calculation and its ability set forth above is subject to confirmation by the Company and any disagreement with respect to the calculation shall be resolved by the Company in its sole discretion.

	  
	  

	 2.
	 Please issue the Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been converted.

	  
	  

	 3.
	 Unless the Warrant Shares will be delivered electronically via DWAC, please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is specified below:

	  
	  

	  
	  

	  
	 and deliver the physical certificate representing said Warrant Shares to the following address:

	  
	  

	  
	  

   
 	 
	12
	

	 

    
 If the Warrant Shares will be delivered electronically via DWAC, please issue them to the following account:
  
 	  
	 ●
	 Name of DTC Participant:

	  
	 ●
	 DTC Participant Number:

	  
	 ●
	 Name of Account at DTC Participant to be credited with the Warrant Shares:

	  
	 ●
	 Account Number at DTC Participant to be credited with the Warrant Shares:

   
 	 4. 
	 Signatures. The signatures to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national securities exchange.

    
 	 Holder (if an individual):
	 Holder (if an entity):
	
	  
	  
	  

	 By:
		  
	  
	  

	 Name:
	  
	  
	 (Legal Name of Entity)
	  

	 Date:
	  
	  
	  
		  

	  
	  
	  
	 By:
		  

	  
	  
	  
	 Name:
	  
	  

	 Additional Holder (if held jointly):
	 Title:
	  
	  

	  
	 Date:
	  
	  

	 By:
	  
	  
	  
		  

	 Name:
	  
	  
	  
	  
	  

	 Date
	  
	  
	  
	  
	  

  
 	 State/County of Domicile or Formation:
	  
	  

	 SSN/EIN/TIN:
	  
	  

    
 	 
	13
	

	 

    
 [Form to be used to assign Purchase Warrant]
  
 ASSIGNMENT
  
 (To be executed by the registered Holder to effect a transfer of the within Purchase Warrant):
  
 FOR VALUE RECEIVED, __________________ does hereby sell, assign and transfer unto ___________________the right to purchase shares of Common Stock, par value $0.001 per share, of Grove, Inc., a Nevada corporation (the “Company”), evidenced by the Purchase Warrant and does hereby authorize the Company to transfer such right on the books of the Company.
  
 Dated: __________, 20__
  
 	 Signature 
		
	 Signature Guaranteed 
		

  
 NOTICE: The signature to this form must correspond with the name as written upon the face of the within Purchase Warrant without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on a registered national securities exchange.
  
 	 
	14

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