Document:

vnge_ex101.htm

EXHIBIT 10.1
  
  
 ASSET ACQUISITION AGREEMENT
 
 
TO EXCHANGE SECURITIES
  
 BETWEEN
  
 VANGUARD ENERGY CORPORATION
  
 AND
  
 SOLAR QUARTZ TECHNOLOGIES, INC.
  
  	 
	1
	 
 
	 

  
 INDEX
  
  	 ARTICLE I - EXCHANGE OF SECURITIES 
	  
	  
	 6
	
	  
	  
	  
	  
	  

	 ARTICLE II - REPRESENTATIONS AND WARRANTIES 
	  
	  
	 6
	
	 2.01 -
	 Organization 
	  
	  
	 6
	  

	 2.02 -
	 Capital 
	  
	  
	 6
	  

	 2.03 -
	 Directors, Officers, Compensation Banks
	  
	  
	 6
	  

	 2.04 -
	 Financial Statements
	  
	  
	 7
	  

	 2.05 -
	 Absence of Changes
	  
	  
	 7
	  

	 2.06 -
	 Absence of Undisclosed Liabilities
	  
	  
	 7
	  

	 2.07 -
	 Tax Returns
	  
	  
	 7
	  

	 2.08 -
	 Corporate Matters.
	  
	  
	 7
	  

	 2.09 -
	 Intellectual Property
	  
	  
	 7
	  

	 2.10-
	 Contracts and Leases
	  
	  
	 7
	  

	 2.11 -
	 Insurance Policies
	  
	  
	 8
	  

	 2.12 -
	 Compliance with Laws 
	  
	  
	 8
	  

	 2.13 -
	 Litigation
	  
	  
	 8
	  

	 2.14 -
	 Ability to Carry Out Obligations
	  
	  
	 8
	  

	 2.15 -
	 Full Disclosure
	  
	  
	 8
	  

	 2.16 -
	 Assets
	  
	  
	 8
	  

	 2A -
	 Organization
	  
	  
	 8
	  

	 2B -
	 Capital
	  
	  
	 9
	  

	 2C -
	 Directors and Officers
	  
	  
	 9
	  

	 2D -
	 Financial Statements
	  
	  
	 9
	  

	 2E -
	 Absence of Changes
	  
	  
	 9
	  

	 2F -
	 Absence of Undisclosed Liabilities
	  
	  
	 9
	  

	 2G -
	 Tax Returns 
	  
	  
	 9
	  

	 2H -
	 Corporate Matters
	  
	  
	 9
	  

	 2I
	 Intellectual Property
	  
	  
	 9
	  

	 2J
	 Contracts and Leases 
	  
	  
	 10
	  

	 2K -
	 Insurance Policies
	  
	  
	 10
	  

	 2L -
	 Compliance with Laws 
	  
	  
	 10
	  

	 2M -
	 Litigation
	  
	  
	 10
	  

	 2N -
	 Ability to Carry Out Obligations 
	  
	  
	 10
	  

	 2O -
	 Full Disclosure
	  
	  
	 10
	  

	 2P -
	 Assets
	  
	  
	 10
	  

	  
	  
	  
	  
	  
	  

	 ARTICLE III - OBLIGATIONS BEFORE CLOSING
	  
	  
	 11
	  

	 3.01 -
	 Investigative Rights 
	  
	  
	 11
	  

	 3.02 -
	 Conduct of Business 
	  
	  
	 11
	  

  
  
  
  	 
	2
	 
 
	 

  
  	 ARTICLE IV - CONDITIONS PRECEDENT TO PERFORMANCE BY VANGUARD 
	  
	  
	 11
	
	 4.01 -
	 Conditions
	  
	  
	 11 
	  

	 4.02 -
	 Accuracy of Representations
	  
	  
	 11
	  

	 4.03 -
	 Performance
	  
	  
	 11
	  

	 4.04 -
	 Absence of Litigation
	  
	  
	 12
	  

	 4.05 -
	 Other
	  
	  
	 12
	  

	  
	  
	  
	  
	  
	  

	 ARTICLE V - CONDITIONS PRECEDENT TO PERFORMANCE BY SOLAR QUARTZ TECHNOLOGIES, INC.
	  
	  
	 12
	
	 5.01 -
	 Conditions
	  
	  
	 12
	  

	 5.02 -
	 Accuracy of Representations
	  
	  
	 12
	  

	 5.03 -
	 Performance
	  
	  
	 12
	  

	 5.04 -
	 Absence of Litigation 
	  
	  
	 12
	  

	 5.05 -
	 Other
	  
	  
	 12
	  

  
  	 ARTICLE VI-CLOSING 
	  
	  
	  
	
	 6.01 -
	 Closing
	  
	  
	 13
	  

	 6.02 -
	 Exchange of Securities
	  
	  
	 13
	  

	 6.03 -
	 Officers and Directors
	  
	  
	 13
	  

	 6.04 -
	 Post-Closing Matters 
	  
	  
	 13
	  

	  
	  
	  
	  
	  
	  

	 ARTICLE VII - REMEDIES
	  
	  
	  
	
	 7.01 -
	 Arbitration 
	  
	  
	 13
	  

	 7.02 -
	 Costs
	  
	  
	 13
	  

	 7.03 -
	 Termination
	  
	  
	 13
	  

	  
	  
	  
	  
	  
	  

	 ARTICLE VIII - MISCELLANEOUS
		  
	  
	  

	 8.01 -
	 Captions and Headings
	  
	  
	 14
	  

	 8.02 -
	 No Oral Change
	  
	  
	 14
	  

	 8.03 -
	 Non-Waiver
	  
	  
	 14
	  

	 8.04 -
	 Time of Essence
	  
	  
	 14
	  

	 8.05 -
	 Entire Agreement
	  
	  
	 14
	  

	 8.06 -
	 Governing Law
	  
	  
	 14
	  

	 8.07 -
	 Counterparts
	  
	  
	 14
	  

	 8.08 -
	 Notices
	  
	  
	 15
	  

	 8.09 -
	 Binding Effect
	  
	  
	 15
	  

	 8.10 -
	 Effect of Closing
	  
	  
	 15
	  

	 8.11 -
	 Mutual Cooperation
	  
	  
	 15
	  

	 8.12 -
	 Expenses
	  
	  
	 16
	  

  
  	 
	3
	 
 
	 

  
 LIST OF SCHEDULES AND EXHIBITS
      
  	 Exhibit A 
	 -
	 Plan of Share Exchange 

	 Exhibit B 
	 -
	 Options, Warrants and Convertible Securities (SQTNZ) 

	 Exhibit C
	 -
	 Officers and Directors Bank Accounts, Safe Deposit Boxes, Powers of Attorney (SQTNZ) 

	 Exhibit D 
	 -
	 Financial Statements - Changes in Financial Condition (SQTNZ)

	 Exhibit E
	 -
	 Patents, Trademarks, Trade Names, and Copyrights (SQTNZ) 

	 Exhibit F 
	 -
	 Material Contracts, Leases and Properties (SQTNZ)

	 Exhibit G 
	 -
	 Insurance Policies (SQTNZ) 

	 Exhibit H 
	 -
	 Options, Warrants and Convertible Securities (Vanguard) 

	 Exhibit I 
	 -
	 Officers and Directors (Vanguard) 

	 Exhibit J 
	 -
	 Financial Statements - Changes in Financial Condition (Vanguard) 

	 Exhibit K 
	 -
	 Patents, Trademarks, Trade Names and Copyrights (Vanguard) 

	 Exhibit L 
	 -
	 Material Contracts (Vanguard) 

	 Exhibit M
	 -
	 Insurance Policies and Litigation (Vanguard)

     	 
	4
	 
 
	 

  
 AGREEMENT TO EXCHANGE SECURITIES
  
 THIS AGREEMENT, made this 28th day of June 2017, by and between Vanguard Energy Corporation ("Vanguard") and Solar Quartz Technologies, Inc. ("SQTI") is made for the purpose of setting forth the terms and conditions upon which Vanguard will acquire all the outstanding shares of Solar Quartz Technologies Limited ("SQTNZ") common stock. Herein collectively referred to as the "Parties" or individually as a "Party":
  
 RECITALS
  
  	  
	(A)	In July 2016, Anasazi Energy announced an agreement to purchase Solar Quartz Technologies Limited (NZBN 9429042029144) at an agreed value of US$530 million. Completion of the transaction was announced on 22 December 2016, concurrent with the FINRA approval for the change of name and stock symbol to Solar Quartz Technologies, Inc. and "SQTI". SQTNZ became a wholly owned subsidiary of SQTI at closing.
	  
	  
	  

	  
	(B)	SQTI (OTC:SQTI "Pink Sheets" is the sole legal and beneficial owner of 100% of the shares in its wholly-owned subsidiary Solar Quartz Technologies Limited a New Zealand corporation hereinafter referred to as "SQTNZ".
	  
	  
	  

	  
	(C)	SQTNZ owns the exclusive rights to two (2) High Purity Silica quartz mineral deposits, known a Quartz Hill and White Springs, located in the Mount Surprise region of Far North Queensland, Australia
	  
	  
	  

	  
	(D)	The SQTNZ Technical Team has developed unique technical and operational expertise in the refining and processing of the mined silica rock into High Purity Quartz (HPQ) and High Purity Quartz Sand (HPQS) both collectively referred to hereinafter as "HPQ". HPQ is used extensively in the high-tech production of Photovoltaic (PV) solar panels, Semi-conductors and all high-end electronics.
	  
	  
	  

	  
	(E)	Vanguard Energy Corporation (VNGE) is US public company (OTC: VNGE Pink Sheets) and has agreed to purchase 100% of the issued and outstanding shares of common stock of SQTNZ at an agreed value of $530 million for an initial consideration of 19,400,250 Reg.144 shares of the common stock of VNGE.
	  
	  
	  

	  
	(F)	The intent of the Parties that upon the completion of the Acquisition, VNGE will become the sole owner of 100% of the shares of common stock of SQTNZ, and SQTI will be the sole owner of 95% (19,400,250 shares) of the then issued and outstanding common stock of VNGE, with another tranch post completion of 194,002,505, for a total consideration of 213,402,755 shares of VNGE.
	  
	  
	  

	  
	(G)	VNGE has represented to SQTI that it can update its Audits and Financial statements and required Regulatory filings with the US Securities and Exchange Commission (SEC) within 90 days of this Agreement to re-qualify for OTCQB/QX markets maintained by OTC Markets, Inc. VNGE has agreed to unconditionally assist SQTI to carry out these procedures with costs being met by SQTI.

  
  
  	 
	5
	 
 
	 

  
 In consideration of the mutual promises, covenants, and representations contained herein, the parties hereto agree as follows:
  
 ARTICLE I
 EXCHANGE OF SECURITIES
  
 1.01 Subject to the terms and conditions of this Agreement, Vanguard agrees to issue in total 213,402,755 shares of its common stock (the " Vanguard Common Stock"), in exchange for all of the outstanding shares of SQTNZ (the "SQTNZ Common Stock"). The shares of Vanguard will be issued in accordance with the Plan of Share Exchange set forth on Exhibit A.
  
 It is intended that such Plan of Share Exchange shall constitute a reorganization within the meaning of Section 368 of the Internal Revenue Code of 1986, as amended (the "Code"), and that this Agreement shall constitute a "plan of reorganization" for the purposes of Section 368 of the Code.
  
 ARTICLE II
 REPRESENTATIONS AND WARRANTIES
  
 SQTI represents the following to Vanguard as of the Closing (as defined in Section 6.01).
  
 It is agreed between the Parties that SQTI is entering into this agreement based upon representations from VNGE that it can be brought into the current position whereby all required regulatory filings to the SEC and OTC Markets are up to date and VNGE will be capable of achieving full compliance and be at the OTC QB level, and at "Fully Reporting Status " to the SEC within 90 days of closing.
  
 2.1 Organization. SQTNZ is a corporation duly organized, validly existing, and in good standing under the laws of New Zealand, has all necessary corporate power to own its properties and to carry on its business as now owned and operated by it, and is duly qualified to do business and is in good standing in each of the states where its business requires qualification.
  
 2.2 Capital. The authorized capital stock of SQTNZ consists of 122 shares of on stock of which 122 shares of common stock are outstanding as of the date hereof. At closing, SQTNZ will not have any outstanding shares of preferred stock. Other than as shown on Exhibit B, there are no subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments outstanding obligating SQTNZ to issue or to transfer from treasury any additional shares of its capital stock. All outstanding shares of SQTNZ are validly issued, fully paid and not assessable and not subject to any preemptive rights.
  
 2.3 Directors, Officers, Compensation, Banks. Exhibit C to this Agreement contains: (i) the names and titles of all directors and officers of SQTNZ and all persons whose compensation from SQTNZ as of the date of this Agreement will equal or is expected to equal or exceed, at an annual rate, the sum of $5,000; (ii) the name and address of each bank with which SQTNZ has an account or safety deposit box, and the names of all persons who are authorized to draw thereon or have access thereto; and (iii) the names of all persons who have a power of attorney from SQTNZ and a summary of the terms thereof.
   	 
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 2.4 Financial Statements. Exhibit D to this Agreement contains the financial statements of SQTNZ (the "SQTNZ Financial Statements"). The SQTNZ Financial Statements are complete and correct in all material respects and fairly present in all material respects the financial condition and results of operation of SQTNZ at such date and for such period and show all material liabilities, absolute or contingent, of SQTNZ.
  
 2.5 Absence of Changes. Since March 31, 2017, there has not been any change in the financial condition or results of operations of SQTNZ, except changes reflected on Exhibit D or changes in the ordinary course of business, which changes have not in the aggregate been materially adverse.
  
 2.6 Absence of Undisclosed Liabilities. SQTNZ did not as of March 31, 2017 have any debt, liability, or obligation of any nature, whether accrued, absolute, contingent, or otherwise, and whether due or to become due, that is not reflected on Exhibit D.
  
 2.7 Tax Returns. Except as reflected on Exhibit D, (i) within the times and in the manner prescribed by law, SQTNZ has filed all federal, state, and local tax returns required by law and has paid all taxes, assessments, and penalties due and payable; (ii) the provision for taxes, if any, reflected in SQTNZ's balance sheet as of March 31, 2017 is adequate for any and all federal, state, county, and local taxes for the period ending on the date of that balance sheet and for all prior periods, whether or not disputed; and (iii) there are no present disputes as to taxes of any nature payable by SQTNZ.
  
 2.8 Corporate Matters. SQTNZ has made available to Vanguard the books and records of SQ1NZ. Such books and records have been maintained in the ordinary course of business, and are true and correct copies of such books and records. The minutes of SQ1NZ are a complete and accurate record of the meetings of the shareholders and directors of SQ1NZ described therein and accurately reflect all actions taken at such meetings. The signatures of the directors and/or officers on such minutes are the valid signatures of SQTNZ's directors and/or officers who were duly elected or appointed on the dates that the minutes were signed by such persons.
  
 2.9 Intellectual Property. Exhibit E attached hereto and made a part hereof lists all trademarks, trademark registrations or applications, trade names, service marks, patents, copyrights, copyright registrations or applications which are owned by SQ1NZ plus of description of SQ1NZ's intellectual property which SQ1NZ considers proprietary and confidential. Except as disclosed on Exhibit E, no person other than SQTNZ owns any trademark, trademark registration or application, service mark, trade name, patent, copyright, or copyright registration or application the use of which is necessary or contemplated in connection with the operation of SQ1NZ' s business.
  
 2.10 Contracts and Leases. Exhibit F attached hereto and made a part hereof contains a summary of the provisions of all material contracts, property and equipment leases, mining rights, and other agreements of SQ1NZ presently in existence or which have been agreed to by SQTNZ (whether written or oral). Except as disclosed on Exhibit F, SQTNZ is not in default under of these agreements or leases.
  
  
   	 
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 2.11 Insurance Policies. Exhibit G to this Agreement is a description of all insurance policies held by SQTNZ concerning its business and properties. All these policies are in the respective principal amounts set forth in Exhibit G and are in full force and effect.
  
 2.12 Compliance with Laws. SQTNZ has complied with, and is not in violation of, applicable federal, state, or local statutes, laws, and regulations affecting its properties or the operation of its business.
  
 2.13 Litigation. SQTNZ is not a party to any suit, action, arbitration, legal, administrative, or other proceeding, or governmental investigation pending or, to the best knowledge of SQTNZ, threatened against or affecting SQTNZ or its business, assets, or financial condition. SQTNZ is not in default with respect to any order, writ, injunction, or decree of any federal, state, local, or foreign court, department, agency, or instrumentality. SQTNZ is not engaged in any legal action to recover moneys due to SQTNZ or damages sustained by SQTNZ.
  
 2.14 Ability to Carry Out Obligations. SQTI has the right, power, and authority to enter into, and perform its obligations under, this Agreement. The execution and delivery of this Agreement by SQTI and the performance by SQTI of its obligations hereunder will not cause, constitute, or conflict with or result in (a) any breach or violation of any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument, articles of incorporation, by-laws, or other agreement or instrument to which SQTI is a party, or by which it may be bound, nor will any consents or authorizations of any party other than those hereto be required, (b) an event that would permit any party to any agreement or instrument to terminate it or to accelerate the maturity of any indebtedness or other obligation of SQTI, or (c) an event that would result in the creation or imposition or any lien, charge, or encumbrance on any asset of SQTI or would create any obligations for which SQTI would be liable, except as contemplated by this Agreement.
  
 2.15 Full Disclosure. None of the representations and warranties made by SQTI, or in any certificate or memorandum furnished or to be furnished by SQTI, or on its behalf, contains or will contain any untrue statement of material fact, or omit any material fact the omission of which would be misleading.
  
 2.16 Assets. SQTNZ has good and marketable title to all of its property, including the mineral properties listed on Exhibit F, free and clear of all mortgages, liens pledges, charges, encumbrances or interest of any third party whatsoever.
  
 Vanguard, represents the following to SQTI as of the Closing:
  
 2A. Organization. Vanguard is a corporation duly organized, validly existing, and in good standing under the laws of Colorado, has all necessary corporate powers to own its properties and to carry on its business as now owned and operated by it, and is duly qualified to do business and is in good standing in each of the states where its business requires qualification, except in those states where the failure to be so qualified would not have a material adverse effect on Vanguard.
   	 
	8
	 
 
	 

  
 2B. Capital. The authorized capital stock of Vanguard consists of 100,000,000 shares of common stock and 5,000,000 shares of preferred stock. Immediately prior to Closing, 1,002,134 shares of common stock and no shares of preferred stock will be outstanding. All such shares are validly issued, fully paid, and non-assessable. At Closing, there will be no outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating Vanguard to issue or to transfer from treasury any additional shares of its capital stock of any class except as reflected on Exhibit H.
  
 2C. Directors and Officers. Exhibit I to this Agreement contain the names and titles of all directors and officers of Vanguard.
  
 2D. Financial Statements. Exhibit J to this Agreement sets forth the balance sheet of Vanguard as of March 31, 2017, and the related statement of income for the period then ended (the "Vanguard Financial Statements"). The Vanguard Financial Statements comply as to form in all material respects with applicable requirements of the U.S. Securities and Exchange Commission with respect thereto, are accurate and in accordance with the books and records of Vanguard, have been prepared in accordance with generally accepted accounting principles applied on a consistent basis during the period involved, except as may be indicated in the notes thereto or as permitted by rules of the Securities and Exchange Commission.
  
 2E. Absence of Changes. Since March 31, 2017, there has not been any material change in the financial condition or operations of Vanguard, except (i) changes in the ordinary course of business, which changes have not in the aggregate been materially adverse, and (ii) changes disclosed on Exhibit J.
  
 2F. Absence of Undisclosed Liabilities. Vanguard did not as of March 31, 2017 have any debt, liability, or obligation of any nature, whether accrued, absolute, contingent, or otherwise, and whether due or to become due, that is not reflected on Exhibit J.
  
 2G. Tax Returns. Within the times and in the manner prescribed by law, Vanguard has filed all federal, state, and local tax returns required by law and has paid all taxes, assessments, and penalties due and payable, through the tax year ended September 30, 2014, except where the failure to file and/or pay would not have a material adverse effect on Vanguard. No federal income tax returns of Vanguard have been audited by the Internal Revenue Service. The provision for taxes, if any, reflected in Vanguard's balance sheet as of March 31, 2017, is approximately adequate for any and all federal, state, county, and local taxes for the period ending on the date of that balance sheet and for all prior periods, whether or not disputed. There are no present disputes as to taxes of any nature payable by Vanguard.
  
 2H. Corporate Matters. The minutes of Vanguard are a complete and accurate record of all meetings of the shareholders and directors of Vanguard s and accurately reflect all actions taken at such meetings. The signatures of the directors and/or officers on such minutes are the valid signatures of Vanguard's directors and/or officers who were duly elected or appointed on the dates that the minutes were signed by such persons.
  
 2I. Patents, Trademarks, Trade Names, and Copyrights. Exhibit K attached hereto and made a part hereof lists all trademarks, trademark registrations or applications, trade names, service marks, patents, copyrights, copyright registrations or applications which are owned by Vanguard. No person other than Vanguard owns any trademark, trademark registration or application, service mark, trade name, copyright, or copyright registration or application the use of which is necessary or contemplated in connection with the operation of Vanguard's business.
  
  	 
	9
	 
 
	 

  
 2J. Contracts and Leases. Exhibit L, attached hereto and made a part hereof, contains a summary of the provisions of all material contracts, leases and other agreements of Vanguard presently in existence or which have been agreed to by Vanguard (whether written or oral). Except as disclosed on Exhibit L, Vanguard is not in default under of these agreements or leases.
  
 2K. Insurance Policies. Exhibit M to this Agreement is a description of all insurance policies held by Vanguard concerning its business and properties. All these policies are in the respective principal amounts set forth in Exhibit Mand are in full force and effect.
  
 2L. Compliance with Laws. Vanguard has complied with, and is not in violation of, applicable federal, state, or local statutes, laws, and regulations affecting its properties or the operation of its business. Vanguard has never had any consent decrees or enforcement actions brought against it.
  
 2M. Litigation. Other than as disclosed on Exhibit M, Vanguard is not a party to any suit, action, arbitration, legal, administrative, or other proceeding, or governmental investigation pending or, to the best knowledge of Vanguard, threatened against or affecting Vanguard or its business, assets, or financial condition. Vanguard is not in default with respect to any order, writ, injunction, or decree of any federal, state, local, or foreign court, department, agency, or instrumentality. Vanguard is not engaged in any legal action to recover moneys due to it or damages sustained by it other than as disclosed on Exhibit M.
  
 2N. Ability to Carry Out Obligations. Vanguard has the right, power, and authority to enter into, and perform its obligations under, this Agreement. The execution and delivery of this Agreement by Vanguard and the performance by Vanguard of its obligations hereunder will not cause, constitute, or conflict with or result in (a) any breach or violation of any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument, articles of incorporation, by-law, or other agreement or instrument to which Vanguard is a party, or by which it may be bound, nor will any consents or authorizations of any party other than those hereto be required, (b) an event that would permit any party to any agreement or instrument to terminate it or to accelerate the maturity of any indebtedness or other obligation of Vanguard, or (c) an event that would result in the creation or imposition or any lien, charge, or encumbrance on any asset of Vanguard or would create any obligations for which Vanguard would be liable, except as contemplated by this Agreement.
  
 2O. Full Disclosure. None of the representations and warranties made by Vanguard in any certificate or memorandum furnished or to be furnished by Vanguard, or on its behalf, contains or will contain any untrue statement of material fact, or omit any material fact the omission of which would be misleading. Vanguard has disclosed to SQTI all reasonably foreseeable contingencies which, if such contingencies transpire, would have a material adverse effect on Vanguard.
  
 2P. Assets. Vanguard has good and marketable title to all of its property, free and clear of all mortgages, liens pledges, charges, encumbrances or interest of any third party whatsoever.
     
  
  	 
	10
	 
 
	 

  
 ARTICLE III
 OBLIGATIONS BEFORE CLOSING
  
 3.1 Investigative Rights. From the date of this Agreement until the Closing, each party shall provide to the other party, and such other party's counsel, accountants, auditors, and other authorized representatives, full access during normal business hours to all of each party's properties, books, contracts, commitments, records and correspondence and communications with regulatory agencies for the purpose of examining the same. Each party shall furnish the other party with all information concerning each party's affairs as the other party may reasonably request.
  
 3.2 Conduct of Business. Prior to the Closing, and except as contemplated by this Agreement, each party shall conduct its business in the normal course, and shall not sell, pledge, or assign any assets, without the prior written approval of the other party, except in the regular course of business. Except as contemplated by this Agreement, neither party to this Agreement shall issue or sell any shares, stock, options or other securities, amend its Articles of Incorporation or By-laws, declare dividends, redeem or sell stock or other securities, incur additional or newly-funded material liabilities, acquire or dispose of fixed assets, change senior management, change employment terms, enter into any material or long-term contract, guarantee obligations of any third party, settle or discharge any balance sheet receivable for less than its stated amount, pay more on any liability than its stated amount, or enter into any other transaction other than in the regular course of business, or enter into any agreement or take any action that is likely to cause any of the representations and warranties of such party under this Agreement not to be true and correct as of the Closing, or that is likely to affect the Closing.
  
 ARTICLE IV
 CONDITIONS PRECEDENT TO PERFORMANCE BY VANGUARD
  
 4.1 Conditions. Vanguard's obligations hereunder shall be subject to the satisfaction, at or before the Closing, of all the conditions set forth in this Article IV. Vanguard may waive any or all of these conditions in whole or in part without prior notice; provided, however, that no such waiver of a condition shall constitute a waiver by Vanguard of any other condition of or any of Vanguard's other rights or remedies, at law or in equity, if SQTI shall be in default of any of its representations, warranties, or covenants under this Agreement.
  
 4.2 Accuracy of Representations. Except as otherwise permitted by this Agreement, all representations and warranties by SQTI in this Agreement or in any written statement that shall be delivered to Vanguard by SQTI under this Agreement shall be true on and as of the Closing as though made at that time.
  
 4.3 Performance. SQTI shall have performed, satisfied, and complied with all covenants, agreements, and conditions required by this Agreement to be performed or complied with by it, on or before the Closing. SQTI shall have obtained all necessary consents and approvals necessary to consummate the transactions contemplated hereby.
   	 
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 4.4 Absence of Litigation. No action, suit, or proceeding before any court or any governmental body or authority, pertaining to the transaction contemplated by this Agreement or to its consummation, shall have been instituted or threatened on or before the Closing.
  
 4.5 Other. In addition to the other provisions of this Article IV, Vanguard's obligations hereunder shall be subject to the satisfaction, at or before the Closing, of the following:
  
  	  
	·	SQTI will have obtained the vote of its shareholders, in accordance with Nevada law, approving the sale of SQTNZ to Vanguard; and
	  
	  
	  

	  
	·	The liabilities of SQTNZ will not exceed $ 250,000; and
	  
	 
	  

	  
	·	Vanguard will have all necessary documents and financial statements required by Vanguard to file an 8-K report with the Securities and Exchange Commission.

  
  
ARTICLEV
 CONDITIONS PRECEDENT TO PERFORMANCE BY SQTI
  
 5.1 Conditions. The obligation of SQTI hereunder shall be subject to the satisfaction, at or before the Closing, of the conditions set forth in this Article V. SQTI may waive any or all of these conditions in whole or in part without prior notice; provided, however, that any such waiver shall be effective only with respect to the party providing such waiver and no such waiver of a condition shall constitute a waiver by SQTI of any other condition of or any of SQTI's other rights or remedies, at law or in equity, if Vanguard shall be in default of any of its representations, warranties, or covenants under this Agreement.
  
 5.2 Accuracy of Representations. Except as otherwise permitted by this Agreement, all representations and warranties by Vanguard in this Agreement or in any written statement that shall be delivered to SQTI by Vanguard under this Agreement shall be true on and as of the Closing as though made at that time.
  
 5.3 Performance. Vanguard shall have performed, satisfied, and complied with all covenants, agreements, and conditions required by this Agreement to be performed or complied with by it, on or before the Closing. Vanguard shall have obtained all necessary consents and approvals necessary to consummate the transactions contemplated hereby.
  
 5.4 Absence of Litigation. No action, suit, or proceeding before any court or any governmental body or authority, pertaining to the transaction contemplated by this Agreement or to its consummation, shall have been instituted or threatened on or before the Closing.
  
 5.5 Other. In addition to the other provisions of this Article V, SQTI's obligations hereunder shall be subject to the satisfaction, at or before the Closing, of the following:
  
 Vanguard shall have obtained approval of this transaction by its Board of Directors
   	 
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 ARTICLE VI
 CLOSING
  
 6.1 Closing. The closing of this transaction (the "Closing") shall be held at the offices of Vanguard, or such other location as the parties may agree. Unless the Closing takes place on the 1st July 2017, and in any event before July 31, 2017, then either party may terminate this Agreement without liability to the other party, excluding claims for breaches of obligations by any party hereto prior to such termination.
  
 6.2 Exchange of Securities. At the Closing, 19,400,250 shares of Vanguard Common Stock will be exchanged for all outstanding shares of SQTNZ.
  
 6.3 Officers and Directors. At the Closing, Vanguard will cause Roger May, and David A.B. Halstead to be appointed as directors of Vanguard.
  
 6.4 Post-Closing Matters.
  
 Post-closing Vanguard will cause the issue of an additional 194,002,505 (Second Tranch) to be made to SQTI, once completioin of the proposed increase in the Authorized capital of Vanguard to 500,000,000 has been completed.
  
 Vanguard will file with the appropriate authorities to effect a change of name from Vanguard Energy Corporation to Solar Quartz Technologies Corporation and apply for the Stock Symbol to be changed to "SQTC".
  
 ARTICLE VII
 REMEDIES
  
 7.1 Arbitration. Any dispute in any way involving this Agreement will be settled through binding arbitration in accordance with the Commercial Rules of the American Arbitration Association in Los Angeles, California
  
 7.2 Costs. If any legal action or any arbitration or other proceeding is brought for the enforcement of this Agreement, or because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Agreement, the successful or prevailing party or parties shall be entitled to recover reasonable attorney's fees and other costs incurred in that action or proceeding, in addition to any other relief to which it or they may be entitled.
   	 
	13
	 
 
	 

  
 7.3 Termination. In addition to the other remedies, Vanguard or SQTI may on or prior to the Closing terminate this Agreement, without liability to any other party:
  
 (i) If any bona fide action or proceeding shall be pending against Vanguard or SQTI on the date of Closing that could result in an unfavorable judgment, decree, or order that would prevent or make unlawful the carrying out of this Agreement or if any agency of the federal or of any state or national government shall have objected at or before the closing date to this acquisition or to any other action required by or in connection with this Agreement;
  
 (ii) If the legality and sufficiency of all steps taken and to be taken by each party in carrying out this Agreement shall not have been approved by the respective party's counsel, which approval shall not be unreasonably withheld.
  
 (iii) If Vanguard or SQTI breaches any representation, warranty, covenant or obligation of such party set forth herein and such breach is not corrected within ten days of receiving written notice from the other party of such breach.
  
 ARTICLE VIII
 MISCELLANEOUS
  
 8.1 Captions and Headings. The Article, section and paragraph headings throughout this Agreement are for convenience and reference only, and shall in no way be deemed to define, limit, or add to the meaning of any provision of this Agreement.
  
 8.2 No Oral Change. This Agreement and any provision hereof, may not be waived, changed, modified, or discharged orally, but only by an agreement in writing signed by all parties hereto.
  
 8.3 Non-Waiver. Except as otherwise expressly provided herein, no waiver of any covenant condition, or provision of this Agreement shall be deemed to have been made unless expressly in writing and signed by the party against whom such waiver is charged; and (i) the failure of any party to insist in any one or more cases upon the performance of any of the provisions, covenants, or conditions of this Agreement or to exercise any option herein contained shall not be construed as a waiver or relinquishment for the future of any such provisions, covenants, or conditions, (ii) the acceptance of performance of anything required by this Agreement to be performed with knowledge of the breach or failure of a covenant, condition, or provision hereof shall not be deemed a waiver of such breach or failure, and (iii) no waiver by any party of one breach by another party shall be construed as a waiver with respect to any other or subsequent breach.
  
 8.4 Time of Essence. Time is of the essence of this Agreement and of each and every provision hereof.
  
 8.5 Entire Agreement. This Agreement, including all exhibits referenced herein, contains the entire Agreement and understanding among the parties hereto, and supersedes all prior agreements, understandings and the letters of intent between the parties.
  
 8.6 Governing Law. This Agreement and its application shall be governed by the laws of Colorado.
  
 8.7 Counterparts. This Agreement may be executed in one or more counterparts and delivered by electronic transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
   	 
	14
	 
 
	 

  
 8.8 Notices. All notices, requests, demands, and other communications under this Agreement shall be in writing and shall be deemed to have been duly given (i) on the date of service if served personally on the party to whom notice is to be given, (ii) upon receipt if delivered by internationally recognized private courier (with confirmation of delivery) or if delivered by facsimile or email transmission or (iii) on the third day after mailing if mailed to the party to whom notice is to be given, by frrst class mail, registered or certified, postage prepaid, and properly addressed as follows:
  
 Solar Quartz Technologies, Inc.
  
 c/o Roger May, Principal
 Suite 600,433 N. Camden Ave.
 Beverley Hills CA 90210 
 Phone: +61.3.8639.5777
 Email: rm@sqt.so1ar 
  
 Vanguard Energy Corporation
  
 c/o Warren Dillard, 
 Chief Executive Officer 
 8858 Van Allen Dr.
 The Woodlands, Texas 77381 
 Email: warrendillard@gmail.com
  
 A party may change such party's address by delivery of a written notice complying with the provisions of this Section.
  
 8.9 Binding Effect. This Agreement will be binding upon the parties herein even though this Agreement may not be signed by all persons whose names appear on the signature page of this Agreement. This Agreement shall inure to and be binding upon and be enforceable against the respective successors of each of the parties to this Agreement. No party may assign or transfer any of its rights or obligations hereunder, without the prior written consent of the other parties hereto. Nothing in this Agreement, express or implied, shall give to any person other than the parties hereto any benefit or any legal or equitable right, remedy or claim under this Agreement.
  
 8.10 Effect of Closing. All representations, warranties, covenants, and agreements of the parties contained in this Agreement, or in any instrument, certificate, opinion, or other writing provided for in it, shall survive the closing of this Agreement and shall remain in effect for a period of twelve months thereafter. In the event there is any material misrepresentation or warranty of any party to this Agreement, then Vanguard (if such misrepresentation is made by SQTI) or SQTI (if such misrepresentation is made by Vanguard) may rescind this Agreement during the 90-day period following the closing of this Agreement.
  
 8.11 Mutual Cooperation. The parties hereto shall cooperate with each other to achieve the purpose of this Agreement and shall execute such other and further documents and take such other and further actions as may be necessary or convenient to affect the transaction described herein. No party will intentionally take any action, or omit to take any action, which will cause a breach of such party's obligations pursuant to this Agreement.
   	 
	15
	 
 
	 

  
 8.12 Expenses. Except as otherwise provided herein, each party hereto agrees to pay all of such party's own expenses (including without limitation, attorneys' and accountants' fees) incurred in connection with this Agreement, the transactions contemplated herein and negotiations leading to the same and the preparations made for carrying the same into effect. Each party expressly represents and warrants that no finder or broker has been involved in this transaction and each party agrees to indemnify and hold the other parties harmless from any commission, fee or claim of any person, firm or corporation employed or retained by such party (or claiming to be employed or retained by such party) to bring about or represent such party in the transactions contemplated by this Agreement.
    
 AGREED TO AND ACCEPTED as of the date first above written.
      
        
  
 	 	VANGUARD ENERGY CORPORATION	
	 	 	 	 
		By:	/s/ Warren Dillard 	
	  
	  
	Warren Dillard, Chief Executive Officer	 
	 	 	 	 
	 	 	  	 
	  
	 SOLAR QUARTZ TECHNOLOGIES, INC.
	  

	  
	  
	  
	  

	  
	 By: 
	 /s/ Roger May
	  

	  
	  
	 Roger May, Principal & Director
	  

	  
	  
	 
	  

	  
	  
	 
	  

	  
	 SOLAR QUARTZ TECHNOLOGIES, INC.
	  

	  
	  
	 
	  

	  
	 By:
	 /s/ Michael Selsman
	  

	  
	  
	 Michael Selsman - Chief Executive Officer
	  

  
  
 	 
	 16

	 
 
	 

     
 EXHIBIT A
  
 PLAN OF SHARE EXCHANGE
  
 	 Acquiring entity: 
	 Vanguard Energy Corporation 

	  
	  

	 Entity being acquired:
	 Solar Quartz Technologies Limited.

                   
  
 	(A)	Share exchange: At Completion Vanguard will issue 19,400,250 shares of Vanguard's Common Stock, as an initial tranche to Solar Quartz Technologies, Inc. and post-completion, after an increase in the authorized capital of VGNE to 500,000,000 (500 million) shares of common stock is completed, then VNGE will issue a second tranche of 194,002,505 shares to SQTI thereby making the total of number shares of VNGE common stock issued to SQTI as full and final consideration for the purchase of the SQTNZ shares and assets, 213,402,755 ( Two hundred and thirteen million four hundred and two thousand, seven hundred and fifty five).
	  
	  

	(B)	The intent of the Parties is that upon the completion of the Acquisition, VNGE will become the sole owner of 100% of the 122 shares of the common stock of SQTNZ, and SQTI will be the sole owner of 95% (213,402,755 shares) of the then issued and outstanding common stock of VNGE.

 
 
  	 
	17
	 
 
	 

 
 
 EXHIBIT B
  
 OPTIONS, WARRANTS AND CONVERTIBLE SECURITIES
 (SQTNZ)
  
 None
    
  
  
  	 
	18
	 
 
	 

  
 EXHIBIT C
  
 Officers and Directors
 (SQTNZ)
  
 	 Name
	  
	 Position

	  
	  
	  

	 Roger May 
	  
	 Director 

	  
	  
	  

	 David Halstead
	  
	Director

      
 SQTNZ Bank Details
  
Westpac Banking Corporation:
 Account Name: SOLAR QUARTZ TECHNOLOGIES LIMITED
 Westpac Branch Address: 41 Aitken St, Gisbome, VIC, 3437, Australia
 BSB No.: 033624
 Account No.: 275935
 Swift Code: WPACAU2S
 Account Authorized Person: Roger May
  
 No other Bank accounts
  
 SQTNZ Employees/ Contractors
  
 Land Owner Compensation exceeds OS$5000 per annum
 Roger May- Director/ Advisory Contractor: Annual contract $300,000 
 Kevin Graham- Contractor: Annual contract $162,000
 Power of Attorney: None
   	 
	19
	 
 
	 

  
 EXHIBIT D
  
 Financial Statements
 Changes in Financial Condition
 (SQTNZ)
  
  
  
  	 
	20
	 
 
	 

  
 SOLAR QUARTZ TECHNOLOIGES LIMITED
  
 CONSOLIDATED INCOME AND EXPENDITURE STATEMENT
 FOR THE YEAR ENDED 31 DECEMBER 2016
  
 	  
INCOME
	  
	 NOTES
	  
	  
	 2016
 $US
	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Interest
	  
	  
		  
	  
	  
		  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Total Income
	  
	  
	  
	  
	  
	  
	  
	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	 EXPENDITURE
	  
	  
	  
	  
	  
	  
	  
	  

	 Bank Charges
	  
	  
	  
	  
	  
	  
	142	  

	 Consulting fees (Overseas)
	  
	  
	  
	  
	  
	  
	4,596	  

	 ICT
	  
	  
	  
	  
	  
	  
	5,644	  

	 Legal
	  
	  
	  
	  
	  
	  
	14,149	  

	 Management and Consulting Fees
	  
	  
	  
	  
	  
	  
	171,621	  

	 Meeting and Travel Fees
	  
	  
	  
	  
	  
	  
	5,650	  

	 Other Expenses
	  
	  
	  
	  
	  
	  
	9,353	  

	 Secretarial
	  
	  
	  
	  
	  
	  
	1,815	  

	 Storage Fees
	  
	  
	  
	  
	  
	  
	3,246	  

	 Utilities
	  
	  
	  
	  
	  
	  
	1,446	  

	 Vehicle Costs
	  
	  
	  
	  
	  
	  
	1,735	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	 Total Expenditure
	  
	  
	  
	  
	  
	  
	219,397	  

	 Net Profit/(Loss)
	  
	  
	  
	  
	  
	  
	(219,396	)
	  
	  
	  
	  
	  
	  
	  
	  
	  

	  
Retained Profits at the Beginning of the Year
	  
	  
	  
	  
	  
	  
	(18,469	)
	 Retained Profits at the End of the Year
	  
	  
	  
	  
	  
	  
	(237,865	)

  
 The accompanying notes form part of these financial statements
  
 	 
	21
	 
 
	 

  
 SOLAR QUARTZ TECHNOLOGIES LIMITED 
  
 BALANCE SHEET STATEMENT
 FOR THE YEAR ENDED 31 DECEMBER 2016
  
  	  
ASSETS
	  
	 Note
	  
	  
	 2016
 $US
	  

	 CURRENT ASSETS
	  
	  
	  
	  
	  
	  

	 Cash and cash equivalents
	  
	  
		  
	  
	  
	59,234	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	 TOTAL CURRENT ASSETS
	  
	  
	  
	  
	  
	  
	59,234	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	  
NON CURRENT ASSETS
	  
	  
	  
	  
	  
	  
	  
	  

	 Plant & equipment
	  
	  
	  
	  
	  
	  
	82,003	  

	 Mining lease at directors valuation
	  
	  
	  
	  
	  
	  
	210,000,000	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	 TOTAL NON-CURRENT ASSETS
	  
	  
	  
	  
	  
	  
	210,082,003	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	  
TOTAL ASSETS
	  
	  
	  
	  
	  
	  
	210,141,237	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	  
LIABILITIES
	  
	  
	  
	  
	  
	  
	  
	  

	 CURRENT LIABILITIES
	  
	  
	  
	  
	  
	  
	  
	  

	 Related loans
	  
	  
	  
	  
	  
	  
	145,847	  

	 Other payables
	  
	  
	  
	  
	  
	  
	221,692	  

	 Other current liabilities
	  
	  
	  
	  
	  
	  
	11,479	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	 TOTAL CURRENT LIABILITIES
	  
	  
	  
	  
	  
	  
	379,018	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	  
TOTAL LIABILITIES
	  
	  
	  
	  
	  
	  
	379,018	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	  
NET ASSETS
	  
	  
	  
	  
	  
	  
	209,762,219	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	  
EQUITY
	  
	  
	  
	  
	  
	  
	  
	  

	  
	  
	  
	  
	  
	  
	  
	  
	  

	  
Issued shares
	  
	  
	  
	  
	  
	  
	84	  

	 Asset revaluation reserve
	  
	  
	 2
	  
	  
	  
	210,000,000	  

	 Retained Profits
	  
	  
	 3
	  
	  
	  
	(237,865	)
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 TOTAL EQUITY
	  
	  
	  
	  
	  
	  
	209,762,219	  

  
 The accompanying notes form part of these financial statements
  
  
  	 
	22
	 
 
	 

    
 SOLAR QUARTZ TECHNOLOGIES LIMITED
  
 NOTES TO THE FINANCIAL STATEMENTS 
 FOR THE YEAR ENDED 31 DECEMBER 2016
  
 NOTE 1   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
  
 The directors have prepared the financial statements on the basis that the company is a non-reporting entity because there are no users dependent on general purpose financial statements. The financial statements are therefore special purpose financial statements that have been prepared in order to meet the needs of members
  
 The financial statements a have been prepared in accordance with the significant accounting policies disclosed below, which the directors have determined are appropriate to meet the needs of the members.
  
 The financial statements have been prepared on an accruals basis and are based on historical costs unless otherwise stated in the notes. The accounting policies that have been adopted in the preparation of the financial statements are as follows:
  
 a. Income Tax
  
 The income tax expense (income) for the year comprises current income tax expense (income). The company does not recognise deferred tax assets or liabilities.
  
 Current income tax expense charged to profit or loss is the tax payable on taxable income and is measured at the amounts expected to be paid to (recovered from) the relevant taxation authority.
  
 c. Property, Plant and Equipment
  
 All property, plant and equipment are initially measured at cost and are depreciated over their useful lives on a straight-line basis. Depreciation commences from the time the asset is available for its intended use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the useful life of the improvements
  
 The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount.
  
 f. Investments
  
 Investments include equity securities (ie shares) of listed or unlisted entities. The company recognises and measures these investments at cost less any accumulated impairment losses.
  
 g. Impairment of Assets
  
 At the end of each reporting period, the association reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indicator exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. Any excess of the asset's carrying value over its recoverable amount is recognised in the income and expenditure statement.
  
 
  	 
	23
	 
 
	 

  
 SOLAR QUARTZ TECHNOLOGIES LIMITED
  
 NOTES TO THE FINANCIAL STATEMENTS 
 FOR THE YEAR ENDED 31 DECEMBER 2016
  
 h. Trade and Other Payables
  
 Trade and other payables represents the liabilities for good and services received by the company that remain unpaid at the end of the reporting period. Trade payables are recognised at their transaction price. They are subject to normal credit terms and do not bear interest.
  
 j. Cash and Cash Equivalents
  
 Cash and cash equivalents include cash on hand, deposits held on call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within current liabilities on the balance sheet.
  
 k. Revenue and Other Income
  
 Revenue is measured at the value of consideration receivable after taking into account and trade discounts and volume rebates allowed. For this purpose, deferred consideration is not discounted to present value when recognising revenue
  
 Interest revenue is recognised using the effective interest method, which for floating financial assets is the rate inherent in the instrument dividend revenue is recognised when the right to receive a dividend has been established.
   	 
	24
	 
 
	 

  
 SOLAR QUARTZ TECHNOLOGIES LIMITED
  
 NOTES TO THE FINANCIAL STATEMENTS
 FOR THE YEAR ENDED 31 DECEMBER 2016
  
 	  
	  
	  
	  
	 2016
	  

	  
	  
	  
	  
	 $
	  

	 NOTE 2
	  
	 Revaluation Surplus
	  
	  
	  

	  
	  
	 Opening balance for the year Revaluation of land at directors valuation
	  
	  
	210,000,000	  

	  
	  
	  
	  
	  
	210,000,000	  

	  
	  
	  
	  
	  
	  
	  

	 NOTE 2
	  
	 Retained Earnings
	  
	  
	  
	  

	  
	  
	 Retained earnings/(losses) at beginning of year 
	  
	  
	(18,469	)
	  
	  
	 Net profit for the period
	  
	  
	(219,396	)
	  
	  
	  
	  
	  
	(237,865	)
	  
	  
	  
	  
	  
	  
	  

	 NOTE 3
	  
	 Contingent Liability
	  
	  
	  
	  

	  
	  
	 A major shareholder has registered a GSA financial security to the value of $NZ 5,000,000 over the assets of the company.
	  
	  
	  
	  

     
  	 
	25
	 
 
	 

  
 SOLAR QUARTZ TECHNOLOGIES LIMITED
  
 COMPILATION REPORT
 FOR YEAR ENDED 31 DECEMBER 2016
  
 We have compiled the accompanying special purpose financial statements of Solar Quartz Technologies Limited, which comprise the balance sheet as at 30 December 2016, the profit and loss statement for the year then ended, a summary of significant accounting policies and other explanatory notes. The specific purpose for which the special purpose financial statements have been prepared is set out in Note 1 to the financial statements.
  
 The Responsibility of the Directors of Solar Quartz Technologies Limited
 The directors of Solar Quartz Technologies Limited are solely responsible for the information contained in the special purpose financial statements , the reliability, accuracy and completeness of the information and for the determination that the significant accounting policies adopted as set out in Note 1 to the financial statements are appropriate to meet their needs and for the purpose that the financial statements were prepared.
  
 Our Responsibility
 On the basis of information provided by the directors of Solar Quartz Technologies Limited, we have compiled the accompanying special purpose financial statements in accordance with the financial reporting framework described in Note 1 to the financial statements and APES 315
 Compilation of Financial Information.
  
 We have applied our expertise in accounting and financial reporting to compile these financial statements in accordance with the financial reporting framework described in Note 1 to the financial statements. We have complied with the relevant ethical requirements of APES 110
  
 Code of Ethics for Professional Accountants.
  
 Assurance Disclaimer
 Since a compilation engagement is not an assurance engagement, we are not required to verify the reliability, accuracy or completeness of the information provided to us by management to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on these financial statements.
  
 The special purpose financial statements were compiled exclusively for the benefit of the directors of Solar Quartz Technologies Limited who are responsible for the reliability, accuracy and completeness of the information used to compile them. We do not accept responsibility for the contents of the special purpose financial statements.
  
 
 M V Anderson & Co
  
 Level S, North Tower 485 La Trobe Street 
 Melbourne VIC
  
 Date: ______________
  
  
  
  	 
	26
	 
 
	 

  
 SOLAR QUARTZ TECHNOLOGIES LIMITED
  
 DIRECTORS' DECLARATION
  
 The directors have determined that the branch is not a reporting entity and that this special purpose financial report should be prepared in accordance with the accounting policies outlined in Note 1 to the financial statements.
  
 The directors of the company declare that: ________________________________
  
  	1.	The financial statements and notes, as set out on pages 2 to 5 present fairly the company's financial position as at                                        md its performance for the year ended on that date in accordance with the accounting policies described in Note 1 to the financial statement; and
	  
	     

	2.	In the directors' opinion there are reasonable grounds to believe that the branch will be able to pay its debts as and when they become due and payable.

  
 Director ____________________________________________________________________
  
 Dated this ______________________________ day of ___________________________ 2017
  
  
  	 
	27
	 
 
	 

  
EXHIBIT E
  
 Patents, Trademarks, Trade Names and Copyrights,
 Description of Proprietary and Confidential Intellectual Property
  
 (SQTNZ)
    
  	 Trademarks: 
	 NONE

	  
	  

	 Patents:
	 NONE

	  
	  

	 Foreign Patents:
	 NONE

 
  
  
  	 
	28
	 
 
	 

  
 EXHIBIT F
  
 Material Contracts, Leases and Properties 
 (SQTNZ)
  
  	  
	1)	Leases: (currently held via SQTNZ wholly owned subsidiary Solar Quartz Technologies, Inc.

  
 Mining Leases held in Queensland Australia:
  
 ML 30235, ML 30236 & ML 30237 (known as Quartz Hill) 
 ML 30238 & Ml 30239 (known as White Springs)
  
  	  
	2)	Material Contracts:

  
 None
   	 
	29
	 
 
	 

  
 EXHIBIT G
  
 Insurance Policies
 (SQTNZ)
  
  
 NONE
  
  
  
   	 
	30
	 
 
	 

  
 EXHIBIT H
  
 Options, Warrants and Convertible Securities 
 (Vanguard)
  
  
 15% Convertible Notes - Principal Balances $70,747.49 
  
 Convertible into 21,374 Common Shares
  
 Warrants to Purchase 5,374 Common Shares @$0.0155 per share, expiring June 30, 17
  
  
  
  
  	 31Exhibit 4.12

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration
Rights Agreement (this “Agreement”) is made and entered into as of October 4, 2017, between
InterCloud Systems, Inc., a Delaware corporation (the “Company”), and Dominion Capital, LLC, a Connecticut
limited liability company (the “Investor”).

 

This Agreement is made
pursuant to the Investment Agreement, dated as of even date herewith, between the Company and the Investor (the “Investment
Agreement”).

 

The Company and the
Investor hereby agrees as follows:

 

1. Definitions.

 

Capitalized terms
used and not otherwise defined herein that are defined in the Investment Agreement shall have the meanings given such terms in
the Investment Agreement.

 

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

 

“Advice”
shall have the meaning set forth in Section 6(d).

 

“Effectiveness
Date” means, with respect to the Initial Registration Statement required to be filed hereunder, one hundred and twenty
(120) days from the date of the Investment Agreement; and with respect to any additional Registration Statements which may be required
pursuant to Section 2(c) or Section 3(c), the sixtieth (60th) calendar day following the date on which an additional
Registration Statement is required to be filed hereunder; provided, however, that in the event the Company is notified
by the Commission that one or more of the above Registration Statements will not be reviewed or is no longer subject to further
review and comments, the Effectiveness Date as to such Registration Statement shall be the fifth (5th) Trading Day following
the date on which the Company is so notified if such date precedes the dates otherwise required above, provided, further, if such
Effectiveness Date falls on a day that is not a Trading Day, then the Effectiveness Date shall be the next succeeding Trading Day.

 

“Effectiveness
Period” shall have the meaning set forth in Section 2(a).

 

“Event”
shall have the meaning set forth in Section 2(d).

 

“Event Date”
shall have the meaning set forth in Section 2(d).

 

“Filing Date”
means, with respect to the Initial Registration Statement required hereunder, the thirtieth (30) calendar day after the date of
the Investment Agreement, and, with respect to any additional Registration Statements which may be required pursuant to Section
2(c) or Section 3(c), ten (10) Trading Days following the earliest practical date on which the Company is permitted by SEC Guidance
to file such additional Registration Statement related to the Registrable Securities.

 

    	 	1	 

     

    

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities.

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Initial Registration
Statement” means the initial Registration Statement filed pursuant to this Agreement.

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated
by the Commission pursuant to the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments
and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to
be incorporated by reference in such Prospectus.

 

“Registrable
Securities” means, as of any date of determination, (a) all of the Shares, including without limitation, the Put Shares,
(b) all shares of Common Stock issued and issuable as dividends on the Shares assuming all permissible dividend payments are made
in shares of Common Stock, (c) any additional shares of Common Stock issued and issuable in connection with any anti-dilution provisions
in the Investment Agreement (without giving effect to any limitations on conversion set forth in the Investment Agreement), (c)
any additional shares of Common Stock issued and issuable in connection with the Investment Agreement, and (d) any securities issued
or then issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing;
provided, however, that any such Registrable Securities shall cease to be Registrable Securities (and the Company shall
not be required to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect thereto) for
so long as (a) a Registration Statement with respect to the sale of such Registrable Securities is declared effective by the Commission
under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with such effective
Registration Statement, (b) such Registrable Securities have been previously sold in accordance with Rule 144, or (c) such securities
become eligible for resale without volume or manner-of-sale restrictions and without current public information pursuant to Rule
144 as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer Agent and the
affected Holders (assuming that such securities and any securities issuable upon exercise, conversion or exchange of which, or
as a dividend upon which, such securities were issued or are issuable, were at no time held by any Affiliate of the Company), as
reasonably determined by the Company, upon the advice of counsel to the Company.

 

    	 	2	 

     

    

 

“Registration
Statement” means any registration statement required to be filed hereunder pursuant to Section 2(a) and any additional
registration statements contemplated by Section 2(c) or Section 3(c), including (in each case) the Prospectus, amendments and supplements
to any such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material
incorporated by reference or deemed to be incorporated by reference in any such registration statement.

 

“Rule 415”
means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Rule 424”
means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time
to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Selling Stockholder
Questionnaire” shall have the meaning set forth in Section 3(a).

 

“SEC Guidance”
means (i) any publicly-available written or oral guidance of the Commission staff, or any comments, requirements or requests of
the Commission staff and (ii) the Securities Act.

 

2. Registration.

 

(a)  Not later
than the Filing Date, the Company shall file with the Commission a draft Registration Statement on Form S-1 relating to the resale
by the Holders of all (or such other number as the Commission will permit) the Registrable Securities. Subject to the terms of
this Agreement, the Company shall use its best efforts to cause a Registration Statement filed under this Agreement (including,
without limitation, under Section 3(c)) to be declared effective under the Securities Act as promptly as possible after the filing
thereof, but in any event no later than the applicable Effectiveness Date, and shall use its best efforts to keep such Registration
Statement continuously effective under the Securities Act until all Registrable Securities covered by such Registration Statement
(i) have been sold, thereunder or pursuant to Rule 144, or (ii) may be sold without volume or manner-of-sale restrictions pursuant
to Rule 144 and without the requirement for the Company to be in compliance with the current public information requirement under
Rule 144, as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable
to the Transfer Agent and the affected Holders (the “Effectiveness Period”).

 

(b)  Notwithstanding
the registration obligations set forth in Section 2(a), if the Commission informs the Company that all of the Registrable Securities
cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement,
the Company agrees to promptly inform each of the Holders thereof and use its best efforts to file amendments to the Initial Registration
Statement as required by the Commission, covering the maximum number of Registrable Securities permitted to be registered by the
Commission, on Form S-1 or such other form available to register for resale the Registrable Securities as a secondary offering,
subject to the provisions of Section 2(e); with respect to filing on Form S-1 or other appropriate form, and subject to the provisions
of Section 2(d) with respect to the payment of liquidated damages; provided, however, that prior to filing such amendment,
the Company shall be obligated to use diligent efforts to advocate with the Commission for the registration of all of the Registrable
Securities in accordance with the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09.

 

    	 	3	 

     

    

 

(c) Notwithstanding
any other provision of this Agreement and subject to the payment of liquidated damages pursuant to Section 2(d), if the Commission
or any SEC Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered on a particular
Registration Statement as a secondary offering (and notwithstanding that the Company used diligent efforts to advocate with the
Commission for the registration of all or a greater portion of Registrable Securities), unless otherwise directed in writing by
a Holder as to its Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement
will be reduced as follows:

 

i.   First,
the Company shall reduce or eliminate any securities to be included by any Person other than a Holder; and

 

ii.  Second,
the Company shall reduce Registrable Securities represented by the Shares (applied, in the case that some Shares may be registered,
to the Holders on a pro rata basis based on the total number of unregistered Shares held by such Holders).

 

In the event of a cutback
hereunder, the Company shall give the Holder at least three (3) Trading Days prior written notice along with the calculations as
to such Holder’s allotment. In the event the Company amends the Initial Registration Statement in accordance with the foregoing,
the Company will use its best efforts to file with the Commission, as promptly as allowed by Commission or SEC Guidance provided
to the Company or to registrants of securities in general, one or more registration statements on Form S-1 or such other form available
to register for resale those Registrable Securities that were not registered for resale on the Initial Registration Statement,
as amended.

 

    	 	4	 

     

    

 

(d) If: (i) the
Initial Registration Statement is not filed on or prior to the Filing Date (if the Company files the Initial Registration Statement
without giving the Holders the opportunity to review and comment on the same as required by Section 3(a) herein, the Company shall
be deemed to have not satisfied this clause (i)), or (ii) the Company fails to file with the Commission a request for acceleration
of a Registration Statement in accordance with Rule 461 promulgated by the Commission pursuant to the Securities Act, within five
(5) Trading Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the Commission that such
Registration Statement will not be “reviewed” or will not be subject to further review, or (iii) prior to the effective
date of a Registration Statement, the Company fails to file a pre-effective amendment and otherwise respond in writing to comments
made by the Commission in respect of such Registration Statement within ten (10) Trading Days, after the receipt of comments by
or notice from the Commission that such amendment is required in order for such Registration Statement to be declared effective,
or (iv) a Registration Statement registering for resale all of the Registrable Securities is not declared effective by the Commission
by the Effectiveness Date of the Initial Registration Statement, or (v) after the effective date of a Registration Statement, such
Registration Statement ceases for any reason to remain continuously effective as to all Registrable Securities included in such
Registration Statement, or the Holders are otherwise not permitted to utilize the Prospectus therein to resell such Registrable
Securities, for more than ten (10) consecutive Trading Days or more than an aggregate of fifteen (15) Trading Days (which need
not be consecutive Trading Days) during any 12-month period (any such failure or breach being referred to as an “Event”,
and for purposes of clauses (i) and (iv), the date on which such Event occurs, and for purpose of clause (ii) the date on which
such five (5) Trading Day period is exceeded, and for purpose of clause (iii) the date which such fifteen (15) Trading Day period
is exceeded, and for purpose of clause (v) the date on which such ten (10) or fifteen (15) Trading Day period, as applicable, is
exceeded being referred to as “Event Date”), then, in addition to any other rights the Holders may have hereunder
or under applicable law, on each such Event Date and on each monthly anniversary of each such Event Date (if the applicable Event
shall not have been cured by such date) until the applicable Event is cured, the Company shall pay to each Holder an amount in
cash, as partial liquidated damages and not as a penalty, equal to the product of one-half of one percent (0.5%) multiplied by
the aggregate Subscription Amount paid by such Holder pursuant to the Investment Agreement. If the Company fails to pay any partial
liquidated damages pursuant to this Section in full within seven days after the date payable, the Company will pay interest thereon
at a rate of eighteen percent (18%) per annum (or such lesser maximum amount that is permitted to be paid by applicable law) to
the Holder, accruing daily from the date such partial liquidated damages are due until such amounts, plus all such interest thereon,
are paid in full. The partial liquidated damages pursuant to the terms hereof shall apply on a daily pro rata basis for any portion
of a month prior to the cure of an Event. The Company shall not be liable for liquidated damages under this Agreement as to any
Registrable Securities which are not permitted by the Commission to be included in a Registration Statement due solely to the Commission’s
guidance on Rule 415 from the time that it is determined that such Registrable Securities are not permitted to be registered until
such time as the provisions of this Agreement as to the additional Registration Statements required to be filed hereunder are triggered,
in which case the provisions of this Section 2(d) shall once again apply. In such case, the liquidated damages shall be calculated
to only apply to the percentage of Registrable Securities which are permitted in accordance with Rule 415 to be included in such
Registration Statement.

 

(e) If Form S-1
is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) register the resale
of the Registrable Securities on another appropriate form and (ii) undertake to register the Registrable Securities on Form S-1
as soon as such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement
then in effect until such time as a Registration Statement on Form S-1 covering the Registrable Securities has been declared effective
by the Commission.

 

    	 	5	 

     

    

 

3. Registration Procedures.

 

In connection with the
Company’s registration obligations hereunder the Company shall have the following obligations:

 

(a) Not less than
two (2) Trading Days prior to the filing of each Registration Statement and not less than one (1) Trading Day prior to the filing
of any related Prospectus or any amendment or supplement thereto (including any document that would be incorporated or deemed to
be incorporated therein by reference), the Company shall (i) furnish to the Holder copies of all such documents proposed to be
filed, which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the review
of the Holders, and (ii) cause its officers and directors, counsel and independent registered public accountants to respond to
such inquiries as shall be necessary, in the reasonable opinion of respective counsel to the Holder, to conduct a reasonable investigation
within the meaning of the Securities Act. Notwithstanding the above, the Company shall not be obligated to provide the Holders
advance copies of any universal registration statement registering securities in addition to those required hereunder, or any Prospectus
prepared thereto. The Company shall not file a Registration Statement or any such Prospectus or any amendments or supplements thereto
to which the Holders of a majority of the Registrable Securities shall reasonably object in good faith, provided that, the Company
is notified of such objection in writing no later than two (2) Trading Days after the Holder has been furnished copies of a Registration
Statement or one (1) Trading Day after the Holders have been so furnished copies of any related Prospectus or amendments or supplements
thereto. Each Holder agrees to furnish to the Company a completed questionnaire in the form attached to this Agreement as Annex
A (a “Selling Stockholder Questionnaire”) on a date that is not less than two (2) Trading Days prior to
the Filing Date or by the end of the fourth (4th) Trading Day following the date on which such Holder receives draft
materials in accordance with this Section.

 

(b) (i) The Company
shall prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement and
the Prospectus used in connection therewith as may be necessary to keep a Registration Statement continuously effective as to the
applicable Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration
Statements in order to register for resale under the Securities Act all of the Registrable Securities, (ii) cause the related Prospectus
to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented
or amended, to be filed pursuant to Rule 424, (iii) respond as promptly as reasonably possible to any comments received from the
Commission with respect to a Registration Statement or any amendment thereto and provide as promptly as reasonably possible to
the Holders true and complete copies of all correspondence from and to the Commission relating to a Registration Statement (provided
that, the Company shall excise any information contained therein which would constitute material non-public information regarding
the Company or any of its Subsidiaries), and (iv) comply in all material respects with the applicable provisions of the Securities
Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by a Registration Statement during
the applicable period in accordance (subject to the terms of this Agreement) with the intended methods of disposition by the Holders
thereof set forth in such Registration Statement as so amended or in such Prospectus as so supplemented.

  

(c) If during the
Effectiveness Period, the number of Registrable Securities at any time exceeds one hundred percent (100%) of the number of shares
of Common Stock then registered in a Registration Statement, then the Company shall file as soon as reasonably practicable, but
in any case prior to the applicable Filing Date, an additional Registration Statement covering the resale by the Holders of not
less than the number of such Registrable Securities which are not registered.

 

    	 	6	 

     

    

 

(d)  The Company
shall notify the Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses (iii) through (vi) hereof,
be accompanied by an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as
reasonably possible (and, in the case of (i)(A) below, not less than one (1) Trading Day prior to such filing) and (if requested
by any such Person) confirm such notice in writing no later than one (1) Trading Day following the day (i)(A) when a Prospectus
or any Prospectus supplement or post-effective amendment to a Registration Statement is proposed to be filed, (B) when the Commission
notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments
in writing on such Registration Statement, and (C) with respect to a Registration Statement or any post-effective amendment, when
the same has become effective, (ii) of any request by the Commission or any other federal or state governmental authority for amendments
or supplements to a Registration Statement or Prospectus or for additional information, (iii) of the issuance by the Commission
or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration Statement
covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose, (iv) of the receipt by
the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose, (v) of
the occurrence of any event or passage of time that makes the financial statements included in a Registration Statement ineligible
for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated or deemed to
be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration Statement,
Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as the case may be, it will not
contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were made, not misleading, and (vi) of the occurrence
or existence of any pending corporate development with respect to the Company that the Company believes may be material and that,
in the determination of the Company, makes it not in the best interest of the Company to allow continued availability of a Registration
Statement or Prospectus, provided, however, in no event shall any such notice contain any information which would
constitute material, non-public information regarding the Company or any of its Subsidiaries.

 

(e) The Company
shall use its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping or suspending
the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of
any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment.

 

(f) The Company
shall furnish to each Holder, without charge, at least one (1) conformed copy of each such Registration Statement and each amendment
thereto, including financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference
to the extent requested by such Person, and all exhibits to the extent requested by such Person (including those previously furnished
or incorporated by reference) promptly after the filing of such documents with the Commission; provided, that any such item which
is available on the EDGAR system (or successor thereto) need not be furnished in physical form.

 

    	 	7	 

     

    

 

(g) Subject to
the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto
by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus
and any amendment or supplement thereto, except after the giving of any notice pursuant to Section 3(d).

 

(h)  The Company
shall cooperate with any broker-dealer through which a Holder proposes to resell its Registrable Securities in effecting a filing
with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110, as requested by any such Holder, and the Company shall
pay the filing fee required by such filing within two (2) Business Days of request therefor.

 

(i) Prior to any
resale of Registrable Securities by a Holder, the Company shall use its best efforts to register or qualify or cooperate with the
selling Holders in connection with the registration or qualification (or exemption from the Registration or qualification) of such
Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions within the United
States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption therefrom) effective
during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition in such
jurisdictions of the Registrable Securities covered by each Registration Statement; provided, that, the Company shall not be required
to qualify generally to do business in any jurisdiction where it is not then so qualified, subject the Company to any material
tax in any such jurisdiction where it is not then so subject or file a general consent to service of process in any such jurisdiction.

 

(j) If requested
by a Holder, the Company shall cooperate with such Holder to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free,
to the extent permitted by the Investment Agreement, of all restrictive legends, and to enable such Registrable Securities to be
in such denominations and registered in such names as any such Holder may request.

 

(k) Upon the occurrence
of any event contemplated by Section 3(d), as promptly as reasonably possible under the circumstances taking into account the Company’s
good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure of such event,
prepare a supplement or amendment, including a post-effective amendment, to a Registration Statement or a supplement to the related
Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document
so that, as thereafter delivered, neither a Registration Statement nor such Prospectus will contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading. If the Company notifies the Holders in accordance with clauses (iii)
through (vi) of Section 3(d) above to suspend the use of any Prospectus until the requisite changes to such Prospectus have been
made, then the Holders shall suspend use of such Prospectus. The Company will use its best efforts to ensure that the use of the
Prospectus may be resumed as promptly as is practicable. The Company shall be entitled to exercise its right under this Section
3(k) to suspend the availability of a Registration Statement and Prospectus, subject to the payment of partial liquidated damages
otherwise required pursuant to Section 2(d), for a period not to exceed sixty (60) calendar days (which need not be consecutive
days) in any twelve (12)-month period.

 

    	 	8	 

     

    

 

(l)   The
Company shall comply with all applicable rules and regulations of the Commission.

 

(m) The Company
shall use its best efforts to maintain eligibility for use of Form S-1 (or any successor form thereto) for the registration of
the resale of Registrable Securities.

 

(n) The Company
may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common Stock beneficially
owned by such Holder and, if required by the Commission, the natural persons thereof that have voting and dispositive control over
the shares. During any periods that the Company is unable to meet its obligations hereunder with respect to the registration of
the Registrable Securities solely because any Holder fails to furnish such information within three Trading Days of the Company’s
request, any liquidated damages that are accruing at such time as to such Holder only shall be tolled and any Event that may otherwise
occur solely because of such delay shall be suspended as to such Holder only, until such information is delivered to the Company.

 

4. Registration Expenses.
All fees and expenses incident to the performance of or compliance with, this Agreement by the Company shall be borne by the Company
whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to in the
foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation, fees
and expenses of the Company’s counsel and independent registered public accountants) (A) with respect to filings made with
the Commission, (B) with respect to filings required to be made with any Trading Market on which the Common Stock is then listed
for trading, (C) in compliance with applicable state securities or Blue Sky laws reasonably agreed to by the Company in writing
(including, without limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications or
exemptions of the Registrable Securities) and (D) if not previously paid by the Company in connection with an Issuer Filing, with
respect to any filing that may be required to be made by any broker through which a Holder intends to make sales of Registrable
Securities with FINRA pursuant to FINRA Rule 5110, so long as the broker is receiving no more than a customary brokerage commission
in connection with such sale, (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable
Securities), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Company, (v) Securities
Act liability insurance, if the Company so desires such insurance, and (vi) fees and expenses of all other Persons retained by
the Company in connection with the consummation of the transactions contemplated by this Agreement. In addition, the Company shall
be responsible for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by
this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting
duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities
on any securities exchange as required hereunder. In no event shall the Company be responsible for any broker or similar commissions
of any Holder or, except to the extent provided for in the Transaction Documents, any legal fees or other costs of the Holders.

 

    	 	9	 

     

    

 

5. Indemnification.

 

(a) Indemnification
by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder,
the officers, directors, members, partners, agents, brokers (including brokers who offer and sell Registrable Securities as principal
as a result of a pledge or any failure to perform under a margin call of Common Stock), investment advisors and employees (and
any other Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or
any other title) of each of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) and the officers, directors, members, stockholders, partners, agents and employees (and
any other Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or
any other title) of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all
losses, claims, damages, liabilities, costs (including, without limitation, reasonable attorneys’ fees) and expenses (collectively,
“Losses”), as incurred, arising out of or relating to (1) any untrue or alleged untrue statement of a material
fact contained in a Registration Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto
or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein (in the case of any Prospectus or supplement thereto, in light
of the circumstances under which they were made) not misleading or (2) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act or any state securities law, or any rule or regulation thereunder, in connection with the performance
of its obligations under this Agreement, except to the extent, but only to the extent, that (i) such untrue statements or omissions
are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein,
or to the extent that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable
Securities and was reviewed and expressly approved in writing by such Holder expressly for use in a Registration Statement, such
Prospectus or in any amendment or supplement thereto or (ii) in the case of an occurrence of an event of the type specified in
Section 3(d)(iii)-(vi), the use by such Holder of an outdated, defective or otherwise unavailable Prospectus after the Company
has notified such Holder in writing that the Prospectus is outdated, defective or otherwise unavailable for use by such Holder
and prior to the receipt by such Holder of the Advice contemplated in Section 6(d), but only if and to the extent that following
the receipt of the Advice the misstatement or omission giving rise to such Loss would have been corrected. The Company shall notify
the Holders promptly of the institution, threat or assertion of any Proceeding arising from or in connection with the transactions
contemplated by this Agreement of which the Company is aware. Such indemnity shall remain in full force and effect regardless of
any investigation made by or on behalf of such indemnified person and shall survive the transfer of any Registrable Securities
by any of the Holders in accordance with Section 6(h).

 

    	 	10	 

     

    

 

(b) Indemnification
by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers,
agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section
20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest extent permitted
by applicable law, from and against all Losses, as incurred, to the extent arising out of or based solely upon: (x) such Holder’s
failure to comply with any applicable prospectus delivery requirements of the Securities Act through no fault of the Company or
(y) any untrue or alleged untrue statement of a material fact contained in any Registration Statement, any Prospectus, or in any
amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission
of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or
supplement thereto, in light of the circumstances under which they were made) not misleading (i) to the extent, but only to the
extent, that such untrue statement or omission is contained in any information so furnished in writing by such Holder to the Company
expressly for inclusion in such Registration Statement or such Prospectus or (ii) to the extent, but only to the extent, that such
information relates to such Holder’s proposed method of distribution of Registrable Securities and was reviewed and expressly
approved in writing by such Holder expressly for use in a Registration Statement, such Prospectus or in any amendment or supplement
thereto or (iii) in the case of an occurrence of an event of the type specified in Section 3(d)(iii)-(vi), to the extent, but only
to the extent, related to the use by such Holder of an outdated, defective or otherwise unavailable Prospectus after the Company
has notified such Holder in writing that the Prospectus is outdated, defective or otherwise unavailable for use by such Holder
and prior to the receipt by such Holder of the Advice contemplated in Section 6(d), but only if and to the extent that following
the receipt of the Advice the misstatement or omission giving rise to such Loss would have been corrected. In no event shall the
liability of any selling Holder under this Section 5(b) be greater in amount than the dollar amount of the net proceeds received
by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation.

 

(c) Conduct
of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder
(an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought
(the “Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to assume the defense
thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses
incurred in connection with defense thereof; provided, that, the failure of any Indemnified Party to give such notice shall not
relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that
it shall be finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further review)
that such failure shall have materially and adversely prejudiced the Indemnifying Party.

 

    	 	11	 

     

    

 

An Indemnified
Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the
fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party
has agreed in writing to pay such fees and expenses, (2) the Indemnifying Party shall have failed promptly to assume the defense
of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding, or (3) the named
parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party,
and counsel to the Indemnified Party shall reasonably believe that a material conflict of interest is likely to exist if the same
counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies
the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying
Party shall not have the right to assume the defense thereof and the reasonable fees and expenses of no more than one separate
counsel shall be at the expense of the Indemnifying Party). The Indemnifying Party shall not be liable for any settlement of any
such Proceeding effected without its written consent, which consent shall not be unreasonably withheld or delayed. No Indemnifying
Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect
of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such Indemnified Party from
all liability on claims that are the subject matter of such Proceeding.

 

Subject to the
terms of this Agreement, all reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses to the
extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this
Section) shall be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice thereof to the Indemnifying
Party; provided, that, the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and
expenses applicable to such actions for which such Indemnified Party is finally determined by a court of competent jurisdiction
(which determination is not subject to appeal or further review) not to be entitled to indemnification hereunder.

 

(d) Contribution.
If the indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient to hold an Indemnified
Party harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid or payable by such Indemnified
Party, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection
with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations.
The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether
any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of
a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party,
and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement
or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations
set forth in this Agreement, any reasonable attorneys’ or other fees or expenses incurred by such party in connection with
any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for
in this Section was available to such party in accordance with its terms.

 

    	 	12	 

     

    

 

The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation
or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately
preceding paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall be required to contribute pursuant to
this Section 5(d), in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder
from the sale of the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise
been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.

 

The indemnity and contribution
agreements contained in this Section are in addition to any liability that the Indemnifying Parties may have to the Indemnified
Parties.

 

6. Miscellaneous.

 

(a) Remedies.
In the event of a breach by the Company or by a Holder of any of their respective obligations under this Agreement, each Holder
or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement,
including recovery of damages, shall be entitled to specific performance of its rights under this Agreement. Each of the Company
and each Holder agrees that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach
by it of any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance
in respect of such breach, it shall not assert or shall waive the defense that a remedy at law would be adequate.

 

(b) No Piggyback
on Registration Statement. Neither the Company nor any of its security holders (other than the Holders in such capacity pursuant
hereto) may include securities of the Company in the Registration Statement filed hereunder other than the Registrable Securities.

 

(c) Compliance.
Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable
to it (unless an exemption therefrom is available) in connection with sales of Registrable Securities pursuant to a Registration
Statement.

 

(d) Discontinued
Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of a notice from the Company
of the occurrence of any event of the kind described in Section 3(d)(iii) through (vi), such Holder will forthwith discontinue
disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”)
by the Company that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company
will use its best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company agrees
and acknowledges that any periods during which the Holder is required to discontinue the disposition of the Registrable Securities
hereunder shall be subject to the provisions of Section 2(d).

 

    	 	13	 

     

    

 

(e) Piggy-Back
Registrations. If, at any time during the Effectiveness Period, there is not an effective Registration Statement covering all
of the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration statement
relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities,
other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity
securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection
with the Company’s stock option or other employee benefit plans, then the Company shall deliver to each Holder a written
notice of such determination and, if within fifteen (15) days after the date of the delivery of such notice, any such Holder shall
so request in writing, the Company shall include in such registration statement all or any part of such Registrable Securities
such Holder requests to be registered; provided, however, that the Company shall not be required to register any
Registrable Securities pursuant to this Section 6(e) that are eligible for resale pursuant to Rule 144 (without volume restrictions
or current public information requirements) promulgated by the Commission pursuant to the Securities Act or that are the subject
of a then effective Registration Statement.

 

(f) Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing and signed
by the Company and the Holders of 51% or more of the then outstanding Registrable Securities (for purposes of clarification, this
includes any Registrable Securities issuable upon exercise or conversion of any Security). If a Registration Statement does not
register all of the Registrable Securities pursuant to a waiver or amendment done in compliance with the previous sentence, then
the number of Registrable Securities to be registered for each Holder shall be reduced pro rata among all Holders and each Holder
shall have the right to designate which of its Registrable Securities shall be omitted from such Registration Statement. Notwithstanding
the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the
rights of a Holder or some Holders and that does not directly or indirectly affect the rights of other Holders may be given only
by such Holder or Holders of all of the Registrable Securities to which such waiver or consent relates; provided, however,
that the provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of
the first sentence of this Section 6(f). No consideration shall be offered or paid to any Person to amend or consent to a waiver
or modification of any provision of this Agreement unless the same consideration also is offered to all of the parties to this
Agreement.

 

(g) Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered as
set forth in the Investment Agreement.

 

(h) Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each
of the parties and shall inure to the benefit of each Holder. The Company may not assign (except by merger) its rights or obligations
hereunder without the prior written consent of all of the Holders of the then outstanding Registrable Securities. Each Holder may
assign their respective rights hereunder in the manner and to the Persons as permitted under Section 5.7 of the Investment Agreement.

 

    	 	14	 

     

    

 

(i) No Inconsistent
Agreements. Neither the Company nor any of its Subsidiaries has entered, as of the date hereof, nor shall the Company or any
of its Subsidiaries, on or after the date of this Agreement, enter into any agreement with respect to its securities, that would
have the effect of impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof.
Except as set forth on Schedule 6(i), neither the Company nor any of its Subsidiaries has previously entered into any agreement
granting any registration rights with respect to any of its securities to any Person that have not been satisfied in full.

 

(j) Execution
and Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

 

(k) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined
in accordance with the provisions of the Investment Agreement.

 

(l) Cumulative
Remedies. The remedies provided herein are cumulative and not exclusive of any other remedies provided by law.

 

(m) Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their best efforts
to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term,
provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have
executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared
invalid, illegal, void or unenforceable.

 

(n) Headings.
The headings in this Agreement are for convenience only, do not constitute a part of the Agreement and shall not be deemed to limit
or affect any of the provisions hereof.

 

(o) Independent
Nature of Holders’ Obligations and Rights. The obligations of each Holder hereunder are several and not joint with the
obligations of any other Holder hereunder, and no Holder shall be responsible in any way for the performance of the obligations
of any other Holder hereunder. Nothing contained herein or in any other agreement or document delivered at any closing, and no
action taken by any Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership, an association,
a joint venture or any other kind of group or entity, or create a presumption that the Holders are in any way acting in concert
or as a group or entity with respect to such obligations or the transactions contemplated by this Agreement or any other matters,
and the Company acknowledges that the Holders are not acting in concert or as a group, and the Company shall not asset any such
claim, with respect to such obligations or transactions. Each Holder shall be entitled to protect and enforce its rights, including
without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Holder to be joined as
an additional party in any proceeding for such purpose. The use of a single agreement with respect to the obligations of the Company
contained was solely in the control of the Company, not the action or decision of any Holder, and was done solely for the convenience
of the Company and not because it was required or requested to do so by any Holder. It is expressly understood and agreed that
each provision contained in this Agreement is between the Company and a Holder, solely, and not between the Company and the Holders
collectively and not between and among Holders.

 

********************

 

(Signature Pages Follow)

 

    	 	15	 

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Registration Rights Agreement as of the date first written above.

 

	 	InterCloud Systems, Inc.
	 	 
	 	bY:	/s/ Timothy A. Larkin
	 	 	Name: Timothy A. Larkin
	 	 	Title: Chief Financial Officer

 

[SIGNATURE PAGE OF HOLDERS FOLLOWS]

 

    	 	16	 

     

    

 

[SIGNATURE PAGE OF HOLDERS TO RRA]

 

	Name of Holder: Dominion Capital, LLC	 
	 	 
	Signature of Authorized Signatory of Holder: 	/s/ Mikhail Gurevich
	 	 
	Name of Authorized Signatory: 	Mikhail Gurevich
	 	 
	Title of Authorized Signatory: 	Managing Member

 

    	 	17	 

     

    

 

ANNEX A

 

Selling Stockholder Questionnaire

 

The undersigned beneficial
owner of common stock (the “Registrable Securities”) of InterCloud Systems,
Inc. (the “Company”), understands that the Company has filed or intends to file with the Securities and
Exchange Commission (the “Commission”) a registration statement (the “Registration Statement”)
for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”),
of the Registrable Securities, in accordance with the terms of the Registration Rights Agreement (the “Registration Rights
Agreement”) to which this document is annexed. A copy of the Registration Rights Agreement is available from the Company
upon request at the address set forth below. All capitalized terms not otherwise defined herein shall have the meanings ascribed
thereto in the Registration Rights Agreement.

 

Certain legal consequences
arise from being named as a selling stockholder in the Registration Statement and the related prospectus. Accordingly, holders
and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling stockholder in the Registration Statement and the related prospectus.

 

NOTICE

 

The undersigned beneficial
owner (the “Selling Stockholder”) of Registrable Securities hereby elects to include the Registrable Securities
owned by it in the Registration Statement.

 

    	 	18	 

     

    

 

The undersigned hereby provides the following
information to the Company and represents and warrants that such information is accurate:

 

QUESTIONNAIRE

 

1.
Name.

 

		(a)	Full Legal Name of Selling Stockholder

 

	 	 
	 	 

 

		(b)	Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities
are held:

 

	 	 
	 	 

 

		(c)	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly
alone or with others has power to vote or dispose of the securities covered by this Questionnaire):

 

	 	 

 

2. Address for Notices to Selling
Stockholder:

 

	 
	 
	 
	 
	 

 

	Telephone:	 

 

	Fax:	 

 

	Contact Person:	 

 

    	 	19	 

     

    

 

3. Broker-Dealer Status:

 

		(a)	Are you a broker-dealer?

 

Yes ☐             No ☐

 

		(b)	If “yes” to Section 3(a), did you receive your Registrable Securities as compensation
for investment banking services to the Company?

 

Yes ☐             No ☐

 

		Note:	If “no” to Section 3(b), the Commission’s
staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

		(c)	Are you an affiliate of a broker-dealer?

 

Yes ☐             No ☐

 

		(d)	If you are an affiliate of a broker-dealer, do you certify that you purchased the Registrable Securities
in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements
or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

 

Yes ☐             No ☐

 

		Note:	If “no” to Section 3(d), the Commission’s
staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

4. Beneficial Ownership of Securities
of the Company Owned by the Selling Stockholder.

 

Except as set forth below in
this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company other than the securities
issuable pursuant to the Investment Agreement.

 

		(a)	Type and Amount of other securities beneficially owned by the Selling Stockholder:

 

	 	 
	 	 
	 	 
	 	 

 

    	 	20	 

     

    

5. Relationships with the Company:

 

Except as set forth below,
neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the
equity securities of the undersigned) has held any position or office or has had any other material relationship with the Company
(or its predecessors or affiliates) during the past three years.

 

State any exceptions here:

 

	 	 
	 	 
	 	 

 

The undersigned agrees
to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective.

 

By
signing below, the undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through
5 and the inclusion of such information in the Registration Statement and the related prospectus and any amendments or supplements
thereto. The undersigned understands that such information will be relied upon by the Company in
connection with the preparation or amendment of the Registration Statement and the related prospectus and any amendments or supplements
thereto.

 

IN WITNESS WHEREOF the
undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or
by its duly authorized agent.

 

	Date:_____________________________	Beneficial Owner:____________________
	 	 	 
	 	By:	                                
	 	 	Name:
	 	 	Title:

 

PLEASE FAX A COPY (OR EMAIL A .PDF COPY)
OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

 

Pryor Cashman LLP

7 Times Square

New York, New York 10036

Attn.: M. Ali Panjwani, Esq.

 

 

21

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