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Form 8-K

sec.gov

8-K — Tianci International, Inc.

Accession: 0001683168-26-004973

Filed: 2026-06-18

Period: 2026-06-16

CIK: 0001557798

SIC: 3576 (COMPUTER COMMUNICATIONS EQUIPMENT)

Item: Entry into a Material Definitive Agreement

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — tianci_8k.htm (Primary)

EX-1.1 — PLACEMENT AGENCY AGREEMENT (tianci_ex0101.htm)

EX-4.1 — COMMON STOCK PURCHASE WARRANT (tianci_ex0401.htm)

EX-4.2 — PRE-FUNDED COMMON STOCK PURCHASE WARRANT (tianci_ex0402.htm)

EX-4.3 — FORM OF PLACEMENT AGENT WARRANT (tianci_ex0403.htm)

EX-10.1 — FORM OF SECURITIES PURCHASE AGREEMENT (tianci_ex1001.htm)

EX-10.2 — FORM OF LOCK-UP AGREEMENT (tianci_ex1002.htm)

EX-99.1 — PRESS RELEASE DATED 6-16-26 (tianci_ex9901.htm)

EX-99.2 — PRESS RELEASE DATED 6-17-26 (tianci_ex9902.htm)

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8-K — CURRENT REPORT

8-K (Primary)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________

FORM 8-K

______________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities

Exchange Act of 1934

Date of Report (Date of earliest event

reported): June 16, 2026

______________

TIANCI INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

______________

Nevada

001-42591

45-5540446

(State or Other Jurisdiction

(Commission

(I.R.S. Employer

of Incorporation)

File Number)

Identification No.)

Unit 1109, Lippo Sun Plaza, 28 Canton Road,

Tsim Sha Tsui, Kowloon, Hong

Kong 999077

(Address of Principal Executive Office) (Zip Code)

852-26621800

(Registrant’s telephone number, including

area code)

Securities registered pursuant to Section 12(b)

of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value

CIIT

The Nasdaq Stock Market LLC

(Nasdaq Capital Market)

Check the appropriate box below if the Form 8-K filing is intended

to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications

pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material

pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the

Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01

Entry into a Material Definitive Agreement

On June 17, 2026, Tianci

International, Inc. (the “Company”) consummated a public offering of 4,055,000 units (the “Units”) and 2,000,000

pre-funded units (“Pre-funded Units”) for a purchase price of $0.81 per Unit and $0.809 per Pre-funded Unit, resulting

in aggregate gross proceeds of approximately $4.9 million, before deducting placement agent fees and other offering expenses. The Company

intends to use the net proceeds from the sale of its securities for working capital requirements and general corporate purposes.

Each

Unit consists of (i) one share of the Company’s common stock, par value $0.0001 per share (“Common Stock”), and (ii)

one common warrant (each a “Common Warrant”) to purchase one share of Common Stock. Each Pre-funded Unit consists of (i)

one pre-funded warrant (each a “Pre-funded Warrant”) to purchase one share of Common Stock, and (ii) one Common Warrant.

Subject to certain ownership limitations described in the Pre-Funded Warrants, each Pre-Funded Warrant is immediately exercisable at

an exercise price of $0.001 per share and will remain exercisable until exercised in full. Each Common Warrant is immediately exercisable

upon issuance, at an initial exercise price of US$0.81 per share (representing 100% of the offering price of $0.81 per Unit), for a period

of three years following the date of issuance.

The exercise price and the number of shares issuable

under the Common Warrants will be proportionately adjusted in the event of certain transactions affecting our Common Stock, including

stock dividends, stock splits or reorganizations. In particular, if, at any time while the Common Warrants are outstanding, (i) there

occurs any stock split, stock dividend, reverse stock split, or stock combination, recapitalization or other similar transaction involving

our Common Stock (each a “Share Combination Event”, and the date of that Share Combination Event (or if the Share Combination

Event occurs after the close of trading on the principal market, the trading day following that date), the “Share Combination Event

Date”), then in addition and after giving effect to the adjustments for the Share Combination Event elsewhere in the Common Warrants,

the exercise price shall be reduced, but in no event increased, to the lowest VWAP (volume-weighted average price) during the period

commencing five consecutive trading days immediately preceding and the five consecutive trading days immediately following the Share

Combination Event Date (such new price, the “Event Market Price”), provided, that in calculating the Event Market Price,

the VWAP for Trading Days prior to the Share Combination Event Date shall be the VWAP reported after proportionally adjusting for the

reverse stock split. The number of shares issuable under the Common Warrants will be increased such that the aggregate exercise price,

after taking into account the decrease in the exercise price, shall be equal to the aggregate exercise price on the issuance date for

the warrant shares then outstanding.

The Common Warrants also contain certain downward adjustment mechanism and anti-dilution provisions.

If at any time while the Common Warrants are outstanding, the Company sells, enters into an agreement to sell, or grants any option

to purchase, or sells or grants any right to reprice, or otherwise disposes of or issues (or announce any offer, sale, grant or any option

to purchase or other disposition) any Common Stock or securities convertible or exercisable into Common Stock, except for certain exempt

issuances, at an effective price per share less than the exercise price of the Common Warrant then in effect (such lower price, the “Base

Share Price” and each of the foregoing, a “Dilutive Issuance”), the exercise price of the Common Warrant shall be reduced

to the lower of (1) the Base Share Price and (2) the lowest VWAP during the period commencing five consecutive trading days immediately

preceding and ending on the fifth trading day immediately following, the consummation of such Dilutive Issuance (such new price, the

“New Issuance Price” and such period, the “New Issuance Adjustment Period”), effective as of the close of trading

on the last trading day of the New Issuance Adjustment Period. Notwithstanding the foregoing, if the Company enters into a variable rate

transaction, the exercise price of the Common Warrant shall be reduced to the lowest possible price, conversion price or exercise price

at which such securities may be issued, converted or exercised.

Other than the adjustment above, in no event shall

the exercise price of the Common Warrants be reduced below a floor price of $0.296, as adjusted for stock dividends, stock splits, stock

combinations and other similar transactions.

In connection with the Offering, the Company entered

into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with an institutional investor on June 16, 2026.

The Securities Purchase Agreements contain customary representations, warranties and covenants, as well as customary indemnification obligations

of the parties. The Company has agreed that for a period of thirty (30) days from the

date of the Securities Purchase Agreement, neither the Company nor any Subsidiary shall (i) issue, enter into any agreement to issue or

announce the issuance or proposed issuance of any shares of Common Stock or Common Stock equivalents or enter into, or effects a transaction

under, any agreement, including, but not limited to, an equity line of credit or an “at-the-market offering”, whereby the

Company may issue securities at a future determined price, or (ii) file any registration statement or amendment or supplement thereto,

other than as necessary to maintain the effectiveness of existing registration statements which are effective as of the closing date.

The Company has further agreed that for a period of three (3) months from the date of the Securities Purchase Agreement, the Company shall

be prohibited from effecting or entering into an agreement to effect any issuance by the Company or any of its Subsidiaries of Common

Stock or Common Stock equivalents (or a combination of units thereof) involving a Variable Rate Transaction (as defined in the Securities

Purchase Agreement).

1

The Placement Agency Agreement

In connection with the offering, on June 16,

2026, the Company entered into a Placement Agency Agreement (the “Placement Agency Agreement”) with Maxim Group LLC (the

“Placement Agent”), pursuant to which the Company agreed to issue and sell directly to investors, in a best efforts basis

the Units and the Pre-funded Units. As part of its compensation for acting as Placement Agent for the Offering, the Company agreed to

pay the Placement Agent a cash fee of seven percent (7.0%) of the gross proceeds received by the Company from the sale of securities

in the Offering and to reimburse the Placement Agent up to a maximum of $100,000 for out-of-pocket accountable expenses.

The Company issued the Placement Agent or its designees warrants (the “Placement Agent Warrants”) to purchase up to 302,750

shares of Common Stock. The Placement Agent Warrants have an exercise price of $0.81, are not exercisable until 180 days from the commencement

of sales of the securities in this Offering, and will expire three (3) years after the commencement of sales of the securities in the

Offering.

Pursuant to the Placement Agency Agreement, for

a period of twelve (12) months after the closing of the Offering, the Placement Agent will have a right of first refusal to act as sole

managing underwriter and sole book runner, sole placement agent and/or sole sales agent, for any and all future public and private equity,

equity-linked or debt (excluding commercial bank debt) offerings for which the Company retains the service of an underwriter, agent, adviser,

finder or other person or entity in connection with such offering.

In connection with the Offering, each of the Company’s

directors and executive officers entered into lock-up agreements (the “Lock-up Agreements”) with the Placement Agent pursuant

to which they agreed, subject to customary exceptions, not to sell, transfer, or otherwise dispose of any of the Company’s securities

for a period of 90 days following the closing of the Offering.

The shares of Common Stock, the Common

Warrants, the Pre-funded Warrants, the Placement Agent described above and the underlying shares of Common Stock were offered and

sold under the Registration Statement (the “Registration Statement”) on Form S-1, as amended (No. 333-296417), which was

declared effective by the Securities and Exchange Commission (the “SEC”) on June 15, 2026. This Current Report on Form

8-K does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall

there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful

prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

The foregoing summaries of the Common Warrants, Pre-Funded Warrants,

Placement Agent Warrants, Placement Agency Agreement, Securities Purchase Agreement, and Lock-up Agreements do not purport to be complete

and are qualified in their entirety by reference to the full text of the corresponding document, which are filed as Exhibit 4.1, 4.2,

4.3, 1.1, 10.1, and 10.2, respectively, to this Current Report on Form 8-K.

Item 8.01

Other Events

On June 16, 2026, the Company issued a press release

announcing the pricing of the Offering. On June 17, 2026, the Company issued a press release regarding the closing of the Offering. A

copy of each of the press release is attached as Exhibit 99.1 and 99.2, respectively, to this Current Report on Form 8-K and each is incorporated

herein by reference.

This Form 8-K contains forward-looking

statements. Forward-looking statements include, but are not limited to, statements that express the Company’s intentions, beliefs,

expectations, strategies, predictions or any other statements related to the Company’s future activities, or future events or conditions.

These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions

made by its management. These statements are not guarantees of future performances and involve risks, uncertainties and assumptions that

are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking

statements due to numerous factors, including those risks discussed in the Company’s Annual Report on Form 10-K, and in other documents

that the Company files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made,

and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of

this Form 8-K, except as required by law.

2

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

1.1

Placement Agency Agreement

4.1

Form of Common Warrant

4.2

Form of Pre-funded Warrant

4.3

Form of Placement Agent Warrant

10.1

Form of Securities Purchase Agreement

10.2

Form of Lock-up Agreement

99.1

Press Release dated June 16, 2026

99.2

Press Release dated June 17, 2026

104

Cover page interactive data file (embedded within the iXBRL document)

SIGNATURES

Pursuant to the requirements

of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto

duly authorized.

Tianci International, Inc.

Date: June 18, 2026

By:

/s/ Shufang Gao

Shufang Gao

Chief Executive Officer

3

EX-1.1 — PLACEMENT AGENCY AGREEMENT

EX-1.1

Filename: tianci_ex0101.htm · Sequence: 2

Exhibit 1.1

CONFIDENTIAL

May [-], 2026

Tianci International, Inc.

Unit 1109, Lippo Sun Plaza

28 Canton Road, Tsim Sha Tsui

Kowloon, Hong Kong

Dear Mr. [        ],

This

agreement (the “Agreement”) constitutes the agreement between Tianci International, Inc.,

a Nevada corporation (the “Company”), and Maxim Group LLC (“Maxim” or the “Lead Manager”),

that Maxim shall serve as the exclusive lead placement agent for the Company, on a “reasonable best efforts” basis (a “Placement”),

in connection with the proposed offerings of securities (the “Securities”) of the Company. The terms of such Placement

and the Securities shall be mutually agreed upon by the Company and the Lead Manager and, if a direct placement, the purchasers (each,

a “Purchaser” and collectively, the “Purchasers”) and nothing herein grants Maxim the power or authority

to bind the Company or any Purchaser or creates an obligation for the Company to issue any Securities or complete the Placement. This

Agreement and the documents executed and delivered by the Company and the Purchasers in connection with the Placement shall be collectively

referred to herein as the “Transaction Documents.” The date of the closing of the Placement shall be referred to herein

as the “Closing Date.” The Company expressly acknowledges and agrees that Maxim’s obligations hereunder are on

a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment by Maxim to purchase the

Securities and does not ensure the successful placement of the Securities or any portion thereof or the success of Maxim with respect

to securing any other financing on behalf of the Company. Maxim may retain other brokers or dealers to act as sub-agents or selected-dealers

on its behalf in connection with the Placement.

The sale of Securities to any

Purchaser will be evidenced by a purchase agreement (“Purchase Agreement”) between the Company and such Purchaser,

if required by the Purchaser, in a form reasonably satisfactory to the Company and Maxim. Prior to the signing of any Purchase Agreement,

officers of the Company with responsibility for financial affairs will be reasonably available to answer inquiries from prospective Purchasers.

Capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Purchase Agreement.

Notwithstanding anything herein

to the contrary, in the event that Maxim determines that any of the terms provided for hereunder shall not comply with a FINRA rule, including,

but not limited to, FINRA Rule 5110, then the Company shall agree to amend this Agreement in writing upon the request of Maxim to comply

with any such rules; provided that any such amendments shall not provide for terms that are less favorable to the Company.

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

SECTION 1.      Compensation and other Fees.

As compensation for the services

provided by Maxim hereunder, the Company agrees to pay to Maxim the fees set forth below with respect to the Placement:

(i) A cash fee payable immediately upon the closing of the Placement equal to seven percent (7.0%) of the

aggregate gross proceeds raised in the Placement (the “Cash Fee”) on the Closing Date from the sale of Securities.

(ii) Subject to compliance with FINRA Rule 5110(f)(2)(D), the Company also agrees, in case of a Closing of

the Placement, to reimburse the Lead Manager for all reasonable and documented out-of-pocket expenses incurred, including the reasonable

fees, costs and disbursements of its legal counsel, in an amount not to exceed an aggregate of $100,000; provided, however, that

if the Placement is terminated, then such reimbursement shall not exceed an aggregate of $50,000. The Company will reimburse Lead Manager

directly upon the Closing of the Placement from the gross proceeds raised in the Placement.

(iii) Warrants to purchase up to five percent (5.0%) of the aggregate number of shares of common stock issued

in the Placement, with an exercise price of 100% of the combined public offering price per share of common stock (or pre-funded warrant)

and accompanying warrant in the offering. Pursuant to FINRA Rule 5110 (e)(1), such placement agent warrant will be non-exercisable, and

will therefore not be sold, transferred, assigned, pledged or hypothecated, or be the subject of any hedging, short sale, derivative,

put or call transaction that would result in the effective economic disposition of such placement agent warrant, for a period of six (6)

months after the date of the Closing; provided, however, that the exceptions listed under FINRA Rule 5110(e)(2) shall apply.

Such placement agent warrant will expire three years after the commencement of sales of the offering.

SECTION 2.      RIGHT OF

FIRST REFUSAL. The Company hereby grants Maxim the right of first refusal for a period of twelve (12) months after the Closing Date

to act as the sole managing underwriter and book runner, or sole placement agent or sales agent, for any and all future public or private

equity, equity-linked or debt (excluding commercial bank debt) offerings for which the Company retains the service of an underwriter,

agent, advisor, finder or other person or entity in connection with such offering during such twelve (12) month period of the Company,

or any successor to or any subsidiary of the Company (the “Subsequent Offering”). The Company shall not offer to retain

any entity or person in connection with any such offering on terms more favorable than terms on which it offers to retain Maxim. Such

offer shall be made in writing in order to be effective. The Company shall provide Maxim with written notice of no less than three (3)

business days following its election to engage in a Subsequent Offering, which notice shall describe the proposed terms and conditions

of such Subsequent Offering. Maxim shall notify the Company within ten (10) business days of its receipt of the written offer contemplated

above as to whether or not it agrees to accept such retention. If Maxim should decline such retention, the Company shall have no further

obligations to Maxim with respect to other Subsequent Offerings, except as otherwise provided for herein. In compliance with FINRA Rule

5110(g)(5)(B), the Right of First Refusal granted hereunder may be terminated by the Company for “Cause,” which shall mean

a material breach by the Placement Agent of this Agreement or a material failure by the Placement Agent to provide the services as contemplated

by this Agreement.

SECTION 3.      REPRESENTATIONS

AND WARRANTIES. The Company makes to Maxim all of the representations and warranties which the Company makes to the Purchasers in

the Purchase Agreement, and in addition makes the following representation:

FINRA Affiliations.

There are no affiliations with any FINRA member firm among the Company’s officers, directors or, to the knowledge of the Company,

any five percent (5%) or greater stockholder of the Company, except as set forth in the Company’s public filings under the Securities

Exchange Act of 1934, as amended, with the Securities and Exchange Commission (the “SEC Filings”).

Members

FINRA & SIPC

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

2

SECTION 4.      REPRESENTATIONS OF MAXIM. Maxim represents and warrants that it is (i) a member in good standing of FINRA, (ii)

registered as a broker/dealer under the Securities Exchange Act of 1934 (the “Exchange Act”), and (iii) licensed as a

broker/dealer under the laws of the States applicable to the offers and sales of Securities by Maxim. Maxim will immediately notify

the Company in writing of any change in its status as such. Maxim covenants that it will use its reasonable best efforts to conduct

the Transaction hereunder in compliance with the provisions of this Agreement and the requirements of applicable law. Except as

required by law or as contemplated by this agreement, Maxim will keep confidential all material nonpublic information, including

information regarding the Transaction contemplated hereunder, provided to it by the Company or its affiliates or advisors and use

such information only for the purposes contemplated herein.

SECTION 5.      INDEMNIFICATION.

The Company agrees to the indemnification and other agreements set forth in the Indemnification Provisions (the “Indemnification”)

attached hereto as Addendum A, the provisions of which are incorporated herein by reference and shall survive the termination or expiration

of this Agreement.

SECTION 6.      ENGAGEMENT

TERM. Maxim’s engagement hereunder shall be the earlier of (a) the Closing Date and (ii) the date each party mutually agrees

to terminate the engagement. Notwithstanding anything to the contrary contained herein, the provisions concerning confidentiality, indemnification,

contribution and the Company’s obligations to pay fees and reimburse expenses earned or due prior to the termination of the Agreement

contained herein and the Company’s obligations contained in the Indemnification Provisions will survive any expiration or termination

of this Agreement. Maxim agrees not to use any confidential information concerning the Company provided to Maxim by the Company for any

purposes other than those contemplated under this Agreement.

SECTION 7.      SUBSEQUENT

EQUITY SALES AND VARIABLE RATE TRANSACTIONS.

(i)

From the date hereof until thirty (30) days after the Closing Date after the Closing Date (the “Standstill Period”),

neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or proposed issuance of

any shares of Common Stock or Common Stock Equivalents, other than (i) to register the resale of the Warrant Shares and (ii) as necessary

to maintain the effectiveness of existing registration statements which are effective as of the Closing Date.

(ii)

Notwithstanding the foregoing, this Section 7 shall not apply in respect of an Exempt Issuance, except that no Variable Rate Transaction

shall be an Exempt Issuance.

“Exempt Issuance” means the issuance of (a) shares of Common Stock or options to employees,

officers or directors of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee

members of the Board of Directors or a majority of the members of a committee of non-employee directors established for such purpose

for services rendered to the Company, and (b) securities upon the exercise or exchange of or conversion of any Securities issued hereunder

and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date

of this Agreement, provided that such securities have not been amended since the date of this Agreement to increase the number of such

securities or to decrease the exercise price, exchange price or conversion price of such securities (other than in connection with stock

splits, stock dividends, contract and anti-dilution provisions in effect on the date hereof, or combinations) or to extend the term of

such securities and (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested

directors of the Company, provided that any such issuance shall only be to a Person (or to the equityholders of a Person) which is, itself

or through its subsidiaries, an operating company or an owner of an asset in a business synergistic with the business of the Company

and shall provide to the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which

the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in

securities.

SECTION 8.      LEAD MANAGER

INFORMATION. The Company agrees that any information or advice rendered by Maxim in connection with this engagement is for the confidential

use of the Company only in their evaluation of the Placement and, except as otherwise required by law, the Company will not disclose or

otherwise refer to the advice or information in any manner without Maxim’s prior written consent, provided, however, that the Company

may share such information or advice with its directors, officers, employees, legal counsel and financial advisors on a confidential basis.

Members

FINRA & SIPC

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

3

SECTION 9.      NO FIDUCIARY

RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not

a party hereto, except those entitled hereto by virtue of the Indemnification Provisions hereof. The Company acknowledges and agrees that

Maxim is and shall not be construed to be a fiduciary of the Company and shall have no duties or liabilities to the equity holders or

the creditors of the Company or any other person by virtue of this Agreement or the retention of Maxim hereunder, all of which are hereby

expressly waived.

SECTION 10.     CLOSING.

The obligations of Maxim and the closing of the sale of the Securities hereunder are subject to the accuracy, when made and on the Closing

Date, of the representations and warranties on the part of the Company and its Subsidiaries contained herein, to the accuracy of the statements

of the Company and its Subsidiaries made in any certificates pursuant to the provisions hereof, to the performance by the Company and

its Subsidiaries of their obligations hereunder, and to each of the following additional terms and conditions:

(A)      All

corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement,

the Securities, and all other legal matters relating to this Agreement and the transactions contemplated hereby shall be reasonably satisfactory

in all material respects to Maxim, and the Company shall have furnished to such counsel all documents and information that they may reasonably

request to enable them to pass upon such matters.

(B)       Maxim

shall have received from outside counsel to the Company such counsel’s written opinion, addressed to Maxim and dated as of the Closing

Date, in form and substance reasonably satisfactory to Maxim.

(C)       Neither

the Company nor any of its Subsidiaries (i) shall have sustained since the date of the latest audited financial statements of the Company

included in the SEC Filings, any loss or interference with its business from fire, explosion, flood, terrorist act or other calamity,

whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set

forth in or contemplated by the SEC Filings, and (ii) since such date there shall not have been any change in the capital stock or long-term

debt of the Company or any of its subsidiaries or any change, or any development involving a prospective change, in or affecting the business,

general affairs, management, financial position, stockholders’ equity, results of operations or prospects of the Company and its

subsidiaries, otherwise than as set forth in or contemplated by the SEC Filings, the effect of which, in any such case described in clause

(i) or (ii), is, in the reasonable judgment of Maxim, so material and adverse as to make it impracticable or inadvisable to proceed with

the sale or delivery of the Securities on the terms and in the manner contemplated by the Purchase Agreement.

(D)      The

common stock of the Company is registered under the Exchange Act.

(E)       No

action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental

agency or body which would, as of the Closing Date, prevent the issuance or sale of the Securities or materially and adversely affect

or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or order of any other

nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance

or sale of the Securities or materially and adversely affect or potentially and adversely affect the business or operations of the Company.

(F)       The

Company shall have prepared and filed with the Commission a Current Report on Form 8-K with respect to the Placement.

(G)       The

Company shall have entered into Purchase Agreements with each of the Purchasers and such agreements shall be in full force and effect

and shall contain representations and warranties of the Company as agreed between the Company and the Purchasers.

(H)      Prior

to the Closing Date, the Company shall have furnished to Maxim such further information, certificates and documents as Maxim may reasonably

request.

Members

FINRA & SIPC

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

4

SECTION 11.     GOVERNING

LAW. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to agreements

made and to be performed entirely in such State. This Agreement may not be assigned by either party without the prior written consent

of the other party. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective successors

and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct

in connection herewith is waived. Any dispute arising under this Agreement may be brought into the courts of the State of New York or

into the Federal Court located in New York, New York and, by execution and delivery of this Agreement, the Company hereby accepts for

itself and in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts. Each party hereto hereby

irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by delivering

a copy thereof via overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this

Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained

herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. If either party shall commence

an action or proceeding to enforce any provisions of a Transaction Document, then the prevailing party in such action or proceeding shall

be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation, preparation

and prosecution of such action or proceeding.

SECTION 12.     ENTIRE

AGREEMENT/MISCELLANEOUS. This Agreement (including the attached Indemnification Provisions) embodies the entire agreement and understanding

between the parties hereto and supersedes all prior agreements and understandings relating to the subject matter hereof, other than that

certain engagement letter entered into between the Company and Maxim, dated [     ], 2026. If any provision of this Agreement is determined

to be invalid or unenforceable in any respect, such determination will not affect such provision in any other respect or any other provision

of this Agreement, which will remain in full force and effect. This Agreement may not be amended or otherwise modified or waived except

by an instrument in writing signed by Maxim and the Company. The representations, warranties, agreements and covenants contained herein

shall survive the closing of the Placement and delivery and/or exercise of the Securities, as applicable. 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 a “.pdf” format 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 signature page were an original thereof.

SECTION 13.     CONFIDENTIALITY.

Maxim (i) will keep the Confidential Information (as such term is defined below) confidential and will not (except as required by applicable

law or stock exchange requirement, regulation or legal process), without the Company’s prior written consent, disclose to any person

any Confidential Information, and (ii) will not use any Confidential Information other than in connection with its evaluation of the Transaction.

Maxim further agrees to disclose the Confidential Information only to its Representatives who need to know the Confidential Information

for the purpose of evaluating the Transaction, and who are informed by Maxim of the confidential nature of the Confidential Information.

The term “Confidential Information” shall mean, all confidential, proprietary and non-public information (whether written,

oral or electronic communications) furnished by the Company to Maxim or its Representatives in connection with Maxim’s evaluation

of the Transaction. The term “Confidential Information” will not, however, include information which (i) is or becomes

publicly available other than as a result of a disclosure by Maxim or its Representatives in violation of this Agreement, (ii) is or becomes

available to Maxim or any of its Representatives on a nonconfidential basis from a third-party, (iii) is known to Maxim or any of its

Representatives prior to disclosure by the Company or any of its Representatives, (iv) is or has been independently developed by Maxim

and/or the Representatives without use of any Confidential Information furnished to it by the Company, or (v) is required to be disclosed

pursuant to applicable legal or regulatory authority. The term “Representatives” shall mean a party's directors, board committees,

officers, employees, financial advisors, attorneys and accountants. This provision shall be in full force until the earlier of (a) the

date that the Confidential Information ceases to be confidential and (b) two years from the date hereof.

Members

FINRA & SIPC

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

5

SECTION 14.     NOTICES.

Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall

be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile

at the facsimile number specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a business day, (b)

the next business day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number

on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York City time) on any business

day, (c) the business day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (d) upon

actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set

forth on the signature pages hereto.

[Signature page follows]

Members

FINRA & SIPC

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

6

We are excited about this equity offering and look forward to working with

you. Please confirm that the foregoing correctly sets forth our agreement by signing and returning the enclosed copy of this Agreement.

Very truly yours,

Maxim

Group LLC

By: ___________________________

Address for notice:

300 Park Avenue

16th Floor

New York, NY 10022

Accepted and Agreed to as of

the date first written above:

TIANCI INTERNATIONAL, INC.

By:

Name:

Title:

Address for notice:

Tianci International, Inc.

Unit 1109, Lippo Sun Plaza

28 Canton Road, Tsim Sha Tsui

Kowloon, Hong Kong

Members

FINRA & SIPC

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

7

ADDENDUM

INDEMNIFICATION PROVISIONS

In

connection with the engagement of Maxim Group LLC (“Maxim”) by Tianci International, Inc. (the

“Company”) pursuant to this Agreement, the Company hereby agrees as follows:

1. To the extent permitted by law, the Company will indemnify Maxim and each of its affiliates, directors,

officers, employees and controlling persons (within the meaning of Section 15 of the Securities Act of 1933, as amended, or Section 20

of the Securities Exchange Act of 1934, as amended) against all losses, claims, damages, expenses and liabilities, as the same are incurred

(including the reasonable fees and expenses of counsel), relating to or arising out of its activities hereunder or pursuant to the Agreement,

except, with regard to Maxim, to the extent that any losses, claims, damages, expenses or liabilities (or actions in respect thereof)

are found in a final judgment (not subject to appeal) by a court of law to have resulted primarily and directly from Maxim’s willful

misconduct or gross negligence in performing the services described herein, as the case may be.

2. Promptly after receipt by Maxim of notice of any claim or the commencement of any action or proceeding

with respect to which Maxim is entitled to indemnity hereunder, Maxim will notify the Company in writing of such claim or of the commencement

of such action or proceeding, and the Company will assume the defense of such action or proceeding and will employ counsel reasonably

satisfactory to Maxim and will pay the fees and expenses of such counsel. Notwithstanding the preceding sentence, Maxim will be entitled

to employ counsel separate from counsel for the Company and from any other party in such action if counsel for Maxim reasonably determines

that it would be inappropriate under the applicable rules of professional responsibility for the same counsel to represent both the Company

and Maxim. In such event, the reasonable fees and disbursements of no more than one such separate counsel will be paid by the Company.

The Company will have the exclusive right to settle the claim or proceeding provided that the Company will not settle any such claim,

action or proceeding without the prior written consent of Maxim, which will not be unreasonably withheld, unless such settlement (x) includes

an unconditional release of Maxim from all liability on claims that are the subject matter of such proceeding and (y) does not include

any statement as to or any admission of fault, culpability or a failure to act by or on behalf of Maxim.

3. The Company agrees to notify Maxim promptly of the assertion against it or any other person of any claim

or the commencement of any action or proceeding relating to a transaction contemplated by the Agreement.

4. If for any reason the foregoing indemnity is unavailable to Maxim or insufficient to hold Maxim harmless,

then the Company shall contribute to the amount paid or payable by Maxim, as the case may be, as a result of such losses, claims, damages

or liabilities in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand,

and Maxim on the other, but also the relative fault of the Company on the one hand and Maxim on the other that resulted in such losses,

claims, damages or liabilities, as well as any relevant equitable considerations. The amounts paid or payable by a party in respect of

losses, claims, damages and liabilities referred to above shall be deemed to include any legal or other fees and expenses incurred in

defending any litigation, proceeding or other action or claim. Notwithstanding the provisions hereof, Maxim’s share of the liability

hereunder shall not be in excess of the amount of fees actually received, or to be received, by Maxim under the Agreement (excluding any

amounts received as reimbursement of expenses incurred by Maxim).

5. These Indemnification Provisions shall remain in full force and effect whether or not the transaction

contemplated by the Agreement is completed and shall survive the termination of the Agreement, and shall be in addition to any liability

that the Company might otherwise have to any indemnified party under the Agreement or otherwise.

Members

FINRA & SIPC

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

8

Very truly yours,

Maxim

Group LLC

By: ___________________________

Address for notice:

300 Park Avenue

16th Floor

New York, NY 10022

Accepted and Agreed to as of

the date first written above:

TIANCI INTERNATIONAL, INC.

By:

Name:

Title:

Address for notice:

Tianci International, Inc.

Unit 1109, Lippo Sun Plaza

28 Canton Road, Tsim Sha Tsui

Kowloon, Hong Kong

Members

FINRA & SIPC

300 Park Avenue, 16th

Floor * New York, NY 10022 * (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * www.maximgrp.com

9

EX-4.1 — COMMON STOCK PURCHASE WARRANT

EX-4.1

Filename: tianci_ex0401.htm · Sequence: 3

Exhibit 4.1

COMMON STOCK PURCHASE WARRANT

TIANCI INTERNATIONAL, INC.

Warrant Shares: [_______]

Issuance Date: ________, 2026

THIS COMMON STOCK PURCHASE

WARRANT (this “Warrant”) certifies that, for value received, [_____________] or its assigns (the “Holder”)

is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after

the date hereof (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (New York City time) the third (3) year

anniversary of the Initial Exercise Date, provided that, if such date is not a Trading Day, then the next Trading Day (the “Termination

Date”) but not thereafter, to subscribe for and purchase from TIANCI INTERNATIONAL, INC., a Nevada corporation (the “Company”),

up to [______] Common Stock (as subject to adjustment hereunder, the “Warrant Shares”). The purchase price of one Common

Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

Section 1.    Definitions.

Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement

(the “Purchase Agreement”), dated [-], 2026, among the Company and the purchasers signatory thereto.

Section 2.    Exercise.

a)

Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any

time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed

PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”).

Within the earlier of (i) one (1) Trading Day and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined

in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the

Warrant Shares specified in the applicable Notice of Exercise by wire transfer unless the cashless exercise procedure specified in Section

2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion

guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary,

the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant

Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company

for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial

exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the

effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant

Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such

purchases. The Company shall deliver any objection to any Notice of Exercise on the Trading Day on receipt of such notice. The Holder

and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following

the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given

time may be less than the amount stated on the face hereof.

b)

Exercise Price. The initial exercise price per Common Stock under this Warrant shall be $_____, subject to adjustment hereunder.

c)

Cashless Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus

contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may only be exercised, in whole

or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant

Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

1

(A) =    as applicable:

(i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1)

both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant

to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b) of Regulation

NMS promulgated under the federal securities laws) on such Trading Day, (ii) the highest Bid Price of the Common Stock on the principal

Trading Market as reported by Bloomberg L.P. (“Bloomberg”) within two (2) hours of the time of the Holder’s delivery

of the Notice of Exercise pursuant to Section 2(a) hereof if such Notice of Exercise is delivered during “regular trading hours,”

or within two (2) hours after the close of “regular trading hours” on a Trading Day or (iii) the VWAP on the date of the applicable

Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is delivered pursuant to Section

2(a) hereof after two (2) hours following the close of “regular trading hours” on such Trading Day;

(B) =    the Exercise

Price of this Warrant, as adjusted hereunder; and

(X) =    the number

of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were

by means of a cash exercise rather than a cashless exercise.

If

Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the

Securities Act, the Warrant Shares being issued shall take on the registered characteristics of the Warrants being exercised.  The

Company agrees not to take any position contrary to this Section 2(c).

“Bid Price”

means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock are then listed

or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading

Market on which the Common Stock are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York

City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price

of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock are not then

listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink Open Market (or a similar

organization or agency succeeding to its functions of reporting prices), the most recent bid price per Common Stock so reported, or (d) in

all other cases, the fair market value of a Common Stock as determined by an independent appraiser selected in good faith by the Holders

of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall

be paid by the Company.

“VWAP”

means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock are then listed

or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)

on the Trading Market on which the Common Stock are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30

a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted

average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock

are not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink Open Market

(or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per Common Stock so reported,

or (d) in all other cases, the fair market value of a Common Stock as determined by an independent appraiser selected in good faith

by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses

of which shall be paid by the Company.

2

d) Mechanics of Exercise.

i.

Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted

by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository

Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in

such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of

the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical delivery of a

certificate, registered in the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares

to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date

that is the earlier of (i) one (1) Trading Day after the delivery to the Company of the Notice of Exercise and (ii) the number of Trading

Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant

Share Delivery Date”), provided that the payment of the aggregate Exercise Price (other than in the instance of a cashless exercise)

is received by the Company by the Warrant Share Delivery Date. Upon delivery of the Notice of Exercise, the Holder shall be deemed, solely

for purposes of Regulation SHO under the Securities Act to have become the holder of record of the Warrant Shares with respect to which

this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise

Price (other than in the case of a cashless exercise) is received within the earlier of (i) one (1) Trading Day and (ii) the number of

Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason

to deliver or cause the delivery to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date,

the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to

such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing

to $20 per Trading Day on the third Trading Day after the Warrant Share Delivery Date) for each Trading Day after such Warrant Share Delivery

Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is

a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement

Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading

Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

ii.

Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request

of a Holder and upon surrender of this Warrant, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing

the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects

be identical with this Warrant.

iii.

Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant

to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

iv.

Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available

to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions

of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required

by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, Common

Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise

(a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s

total purchase price (including brokerage commissions, if any) for the Common Stock so purchased exceeds (y) the amount obtained by multiplying

(1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times

(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either

reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such

exercise shall be deemed rescinded) or deliver to the Holder the number of Common Stock that would have been issued had the Company timely

complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase

price of $11,000 to cover a Buy-In with respect to an attempted exercise of this Warrant to purchase Common Stock with an aggregate sale

price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be

required to pay the Holder $1,000. The Holder shall provide the Company with written notice indicating the amounts payable to the Holder

with respect to the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s

right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific

performance and/or injunctive relief with respect to the Company’s failure to timely deliver Common Stock upon exercise of the Warrant

as required pursuant to the terms hereof.

3

v.

No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise

of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company

shall round up to the nearest whole share.

vi.

Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer

tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the

Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;

provided, however, that, in the event that Warrant Shares are to be issued in a name other than the name of the Holder,

this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and

the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository

Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of

the Warrant Shares.

vii.

Closing of Books. The Company will not close its shareholder books or records in any manner, which prevents the timely exercise

of this Warrant, pursuant to the terms hereof.

e) Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant,

and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that

after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s

Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution

Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of

the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include

the number of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude

the number of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially

owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted

portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation

on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution

Parties.  Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated

in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section

2(e), in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common Stock as reflected

in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public

announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of Common

Stock outstanding.  Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm orally and in

writing to the Holder the number of Common Stock then outstanding.  In any case, the number of outstanding Common Stock shall be

determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its

Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial

Ownership Limitation” shall be [9.99/4.99%] of the number of Common Stock outstanding immediately after giving effect to the

issuance of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the

Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds

9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this

Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation

will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall

be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph

(or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to

make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph

shall apply to the successor holder of this Warrant.

4

Section

3.    Certain Adjustments.

a)

Share Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend or

otherwise makes a distribution or distributions to all holders of its Common Stock or any other equity or equity equivalent securities

payable in Common Stock (which, for avoidance of doubt, shall not include any Common Stock issued by the Company upon exercise of this

Warrant), (ii) subdivides issued and outstanding Common Stock into a larger number of shares, (iii) combines (including by way of reverse

share split) issued and outstanding Common Stock into a smaller number of shares, or (iv) issues by reclassification of Common Stock any

shares of share capital of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator

shall be the number of Common Stock (excluding treasury shares, if any) issued and outstanding immediately before such event and of which

the denominator shall be the number of Common Stock issued and outstanding immediately after such event, and the number of shares issuable

upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged.

Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the date of payment of such dividend or distribution

and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification.

b)

Share Combination Event Adjustment. If at any time after the Initial Exercise Date, there occurs any share split, share

dividend, reverse share split, or share combination, recapitalization or other similar transaction involving the shares of Common Stock

(each, a “Share Combination Event”, and the date of such Share Combination Event (or if the Share Combination Event

occurs after the close of Trading on the Principal Market, the Trading Day following such date), the “Share Combination Event

Date”), then, in addition and after giving effect to the adjustments for that Share Combination Event elsewhere in this Section 3,

the Exercise Price shall be reduced, but in no event increased, to the lowest VWAP during the period commencing five consecutive Trading

Days immediately preceding and ending on the fifth Trading Day immediately following the Share Combination Event Date (as applicable,

the “Event Market Price” and such period, the “Share Combination Adjustment Period”); provided,

that in calculating the Event Market Price, the VWAP for Trading Days prior to the Share Combination Event Date shall be the VWAP reported

after adjusting pursuant to Section 3(a) hereof. The adjustment of the Exercise Price shall take effect beginning at the close of trading

on the Principal Market on the first day of the Share Combination Adjustment Period and continuing each Trading Day thereafter until the

close of trading on the Principal Market on the last day of the Share Combination Adjustment Period, effective at the close of trading

on the Principal Market on each Trading Day during the Share Combination Adjustment Period. For each adjustment of the Exercise Price

under this Section 3(b) the number of Warrant Shares issuable upon exercise of this Warrant (such resulting number, the “Share

Combination Issuable Shares”) shall be increased such that the aggregate Exercise Price payable hereunder, after taking into

account the decrease in the Exercise Price, shall be equal to the aggregate Exercise Price on the Issuance Date for the Warrant Shares

then outstanding. For the avoidance of doubt, (A) if the Holder delivers a Notice of Exercise during the Share Combination Adjustment

Period, the Exercise Price shall equal the lower of (1) the Exercise Price then in effect and (2) the lowest applicable Event Market Price

as of the most recent close of trading on the Principal Market as of the day and time on which the Notice of Exercise is delivered (which

shall equal the lowest VWAP during the Share Combination Adjustment Period as of such day and time), and (B) if as of the end of the Share

Combination Adjustment Period the Event Market Price is not lower than the Exercise Price in effect prior to the Share Combination Adjustment

Period, then no adjustment to the Exercise Price or number of Warrant Shares shall occur under this Section 3(b).

c)

Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time, while this Warrant

is outstanding, the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or

other property pro rata to all record holders of any class of Common Stock (the “Purchase Rights”), then the Holder

will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have

acquired if the Holder had held the number of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations

on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is

taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders

of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that, to the

extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership

Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such

Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the

Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

5

d)

Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend

or other distribution of its assets (or rights to acquire its assets) to all holders of Common Stock, by way of return of capital or otherwise

(including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off,

reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),

at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution

to the same extent that the Holder would have participated therein if the Holder had held the number of Common Stock acquirable upon complete

exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership

Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as

of which the record holders of Common Stock are to be determined for the participation in such Distribution (provided, however,

that to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial

Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership

of any Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for

the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership

Limitation).

e)

Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in

one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company and

all of its Subsidiaries, taken as a whole, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance

or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect,

purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common

Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders

of greater than 50% of the outstanding Common Stock or greater than 50% of the voting power of the common equity of the Company, (iv)

the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization

of the Common Stock or any compulsory share exchange pursuant to which the Common Stock are effectively converted into or exchanged for

other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock

or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off,

merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires greater than 50%

of the outstanding Common Stock or greater than 50% of the voting power of the common equity of the Company (each a “Fundamental

Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant

Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option

of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of Common Stock of the successor

or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate

Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of Common Stock for which this

Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise

of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply

to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one Common Stock in such Fundamental

Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the

relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities,

cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as the Alternate Consideration

it receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the

event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder’s option, exercisable

at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction (or, if later, the date of the

public announcement of the applicable Fundamental Transaction), purchase this Warrant from the Holder by paying to the Holder an amount

of cash equal to the Black Scholes Value (as defined below) of the remaining unexercised portion of this Warrant on the date of the consummation

of such Fundamental Transaction; provided, however, that, if the Fundamental Transaction is not within the Company's control, including

not approved by the Company's Board of Directors, the Holder shall only be entitled to receive from the Company or any Successor Entity

the same type or form of consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant,

that is being offered and paid to the holders of Common Stock of the Company in connection with the Fundamental Transaction, whether that

consideration be in the form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to

receive from among alternative forms of consideration in connection with the Fundamental Transaction; provided, further, that if

holders of Common Stock of the Company are not offered or paid any consideration in such Fundamental Transaction, such holders of Common

Stock will be deemed to have received common stock of the Successor Entity (which Successor Entity may be the Company following such Fundamental

Transaction) in such Fundamental Transaction. “Black Scholes Value” means the value of this Warrant based on the Black-Scholes

Option Pricing Model obtained from the “OV” function on Bloomberg determined as of the day of consummation of the applicable

Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for

a period equal to the time between the date of the public announcement of the applicable contemplated Fundamental Transaction and the

Termination Date, (B) an expected volatility equal to the greater of (1) the 30 day volatility, (2) the 100 day volatility or (3) the

365 day volatility, each of clauses (1)-(3) as obtained from the HVT function on Bloomberg (determined utilizing a 365 day annualization

factor) as of the Trading Day immediately following the public announcement of the applicable contemplated Fundamental Transaction, (C)

the underlying price per share used in such calculation shall be the greater of (i) the sum of the price per share being offered in cash,

if any, plus the value of any non-cash consideration, if any, being offered in such Fundamental Transaction and (ii) the VWAP immediately

preceding the public announcement of the applicable contemplated Fundamental Transaction (or the consummation of the applicable Fundamental

Transaction, if earlier), (D) a remaining option time equal to the time between the date of the public announcement of the applicable

contemplated Fundamental Transaction and the Termination Date and (E) a zero cost of borrow. The payment of the Black Scholes Value will

be made by wire transfer of immediately available funds (or such other consideration) within the later of (i) five Business Days of the

Holder’s election and (ii) the date of consummation of the Fundamental Transaction. The Company shall cause any successor entity

in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing

all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 3(e) pursuant to written agreements

in form and substance reasonably satisfactory to Holders of a majority in interest of the Warrants (based on the number of Warrant Shares

underlying such Warrants) then outstanding (as determined without unreasonable delay) prior to such Fundamental Transaction and shall,

at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written

instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital

stock of such Successor Entity (or its parent entity) equivalent to the Common Stock acquirable and receivable upon exercise of this Warrant

(without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price

which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the Common Stock

pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such

exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental

Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction,

the Successor Entity shall succeed to, and be substituted for, the Company under this Warrant (so that from and after the occurrence or

consummation of such Fundamental Transaction, each and every provision of this Warrant referring to the “Company” shall refer

instead to the Successor Entity or Successor Entities, jointly and severally), and the Successor Entity or Successor Entities may exercise

every right and power of the Company prior thereto and the Successor Entity or Successor Entities shall assume all of the obligations

of the Company prior thereto under this Warrant with the same effect as if such Successor Entity or Successor Entities, jointly and severally,

had been named as the Company herein. For the avoidance of doubt, the Holder shall be entitled to the benefits of the provisions of this

Section 3(e) regardless of (i) whether the Company has sufficient authorized Common Stock for the issuance of Warrant Shares and/or (ii)

whether a Fundamental Transaction occurs prior to the Initial Exercise Date.

6

f)

Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,

as the case may be. For purposes of this Section 3, the number of Common Stock deemed to be issued and outstanding as of a given date

shall be the sum of the number of Common Stock (excluding treasury shares, if any) issued and outstanding.

g)

Notice to Holder.

i.

Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company

shall promptly deliver to the Holder by email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment

to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

ii.

Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form)

on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the

Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of

any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification

of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of

the assets of the Company, or any compulsory share exchange whereby the Common Stock are converted into other securities, cash or property,

or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company,

then, in each case, the Company shall cause to be delivered by email to the Holder at its last email address as it shall appear upon the

Warrant Register of the Company, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified,

a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants,

or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions,

redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer

or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of

record shall be entitled to exchange their Common Stock for securities, cash or other property deliverable upon such reclassification,

consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in

the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that

any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries,

the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain

entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering

such notice except as otherwise be expressly set forth herein.

7

h)

Subsequent Equity Sale. If the Company at any time while this Warrant is outstanding, shall sell, enter into an agreement

to sell, or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer,

sale, grant or any option to purchase or other disposition) any Common Stock or Common Stock Equivalents other than Exempt Issuances (as

defined in the Securities Purchase Agreement), at an effective price per share less than the Exercise Price then in effect (such lower

price, the “Base Share Price” and such issuances collectively, a “Dilutive Issuance”), then effective as

of the close of trading on the last Trading Day of the New Issuance Adjustment Period (as defined below) for each Dilutive Issuance the

Exercise Price shall be reduced, but in no event increased, to the lower of the (1) Base Share Price and the (2) lowest VWAP during the

period commencing five consecutive Trading Days immediately preceding and ending on the fifth Trading Day immediately following the consummation

of such Dilutive Issuance (as applicable, the “New Issuance Price” and such period, the “New Issuance Adjustment

Period”). The Company shall notify the Holder, in writing, no later than the second Trading Day following the issuance or deemed

issuance of any Dilutive Issuance subject to this Section 3(h), indicating therein the applicable issuance price, or applicable reset

price, exchange price, conversion price and other pricing terms (such notice, the “Dilutive Issuance Notice”). Notwithstanding

the foregoing, if the Company enters into a Variable Rate Transaction, the Company shall be deemed to have issued Common Stock or Common

Stock Equivalents at the lowest possible price, conversion price or exercise price at which such securities may be issued, converted or

exercised. “Variable Rate Transaction” means a transaction in which the Company (i) issues or sells any Common Stock

or Common Stock Equivalents either (A) at a conversion price, exercise price or exchange rate or other price that is based upon, and/or

varies with, the trading prices of or quotations for the Common Stock at any time after the initial issuance of such debt or equity securities

or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of

such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business of

the Company or the market for the Common Stock, other than in connection with customary anti-dilution adjustments resulting from future

stock splits, stock dividends or similar transactions, or (ii) issues or sells any amortizing convertible security that amortizes prior

to its maturity date, whereby it is required to or has the option to (or the investor in such security has the option to require the Company

to) make such amortization payments in Common Stock (whether or not such payments in stock are subject to certain equity conditions) or

(iii) enters into, or effects a transaction under, any agreement, including, but not limited to, an equity line of credit or “at-the-market”

offering, whereby it may sell securities at a future determined price, regardless of whether shares pursuant to such agreement have actually

been issued and regardless of whether such agreement is subsequently canceled, provided that any issuance of shares upon the exercise

of the Warrants will not be deemed a Variable Rate Transaction. For the avoidance of doubt, for purposes of calculating any exercise price

with respect to Common Stock Equivalents, the Common Stock Equivalents shall be deemed to have been exercised solely by payment in cash

of the exercise price therefor, and no cashless exercise mechanism shall be taken into account. For the purposes of this Section 3(h),

pre-funded warrants to purchase Common Stock shall be treated as Common Stock.

8

For purposes of

this Section 3(h), the "effective price per share" with respect to any issuance of Common Stock or Common Stock Equivalents

shall be calculated as follows:

i.

Issuance of Options. If the Company in any manner grants, issues or sells (or enters into any agreement to grant, issue

or sell) any Options and the lowest price per share for which one share of Common Stock is at any time issuable upon the exercise of any

such Option or upon conversion, exercise or exchange of any Common Stock Equivalents issuable upon exercise of any such Option or otherwise

pursuant to the terms thereof is less than the Applicable Price, then such share of Common Stock shall be deemed to be outstanding and

to have been issued and sold by the Company at the time of the granting, issuance or sale (or the time of execution of such agreement

to grant, issue or sell, as applicable) of such Option for such price per share. For purposes of this Section 3(h)(i), the “lowest

price per share for which one share of Common Stock is at any time issuable upon the exercise of any such Options or upon conversion,

exercise or exchange of any Common Stock Equivalents issuable upon exercise of any such Option or otherwise pursuant to the terms thereof”

shall be equal to (1) the lower of (x) the sum of the lowest amounts of consideration (if any) received or receivable by the Company with

respect to any one share of Common Stock upon the granting, issuance or sale (or pursuant to the agreement to grant, issue or sell, as

applicable) of such Option, upon exercise of such Option and upon conversion, exercise or exchange of any Common Stock Equivalent issuable

upon exercise of such Option or otherwise pursuant to the terms thereof and (y) the lowest exercise price set forth in such Option for

which one share of Common Stock is issuable (or may become issuable assuming all possible market conditions) upon the exercise of any

such Options or upon conversion, exercise or exchange of any Common Stock Equivalents issuable upon exercise of any such Option or otherwise

pursuant to the terms thereof minus (2) the sum of all amounts paid or payable to the holder of such Option (or any other Person) upon

the granting, issuance or sale (or the agreement to grant, issue or sell, as applicable) such Option, upon exercise of such Option and

upon conversion, exercise or exchange of any Common Stock Equivalent issuable upon exercise of such Option or otherwise pursuant to the

terms thereof plus the value of any other consideration received or receivable by, or benefit conferred on, the holder of such Option

(or any other Person). Except as contemplated below, no further adjustment of the Exercise Price shall be made upon the actual issuance

of such Common Stock or of such Common Stock Equivalents upon the exercise of such Common Stock otherwise pursuant to the terms of or

upon the actual issuance of such Common Stock upon conversion, exercise or exchange of such Common Stock Equivalents.

ii.

Issuance of Common Stock Equivalents. If the Company in any manner issues or sells (or enters into any agreement to issue

or sell) any Common Stock Equivalents and the lowest price per share for which one share of Common Stock is at any time issuable upon

the conversion, exercise or exchange thereof or otherwise pursuant to the terms thereof is less than the Applicable Price, then such share

of Common Stock shall be deemed to be outstanding and to have been issued and sold by the Company at the time of the issuance or sale

(or the time of execution of such agreement to issue or sell, as applicable) of such Common Stock Equivalents for such price per share.

For the purposes of this Section 3(h)(ii), the “lowest price per share for which one share of Common Stock is at any time issuable

upon the conversion, exercise or exchange thereof or otherwise pursuant to the terms thereof” shall be equal to (1) the lower of

(x) the sum of the lowest amounts of consideration (if any) received or receivable by the Company with respect to one share of Common

Stock upon the issuance or sale (or pursuant to the agreement to issue or sell, as applicable) of the Common Stock Equivalent and upon

conversion, exercise or exchange of such Common Stock Equivalent or otherwise pursuant to the terms thereof and (y) the lowest conversion

price set forth in such Common Stock Equivalent for which one share of Common Stock is issuable (or may become issuable assuming all possible

market conditions) upon conversion, exercise or exchange thereof or otherwise pursuant to the terms thereof minus (2) the sum of all amounts

paid or payable to the holder of such Common Stock Equivalent (or any other Person) upon the issuance or sale (or the agreement to issue

or sell, as applicable) of such Common Stock Equivalent plus the value of any other consideration received or receivable by, or benefit

conferred on, the holder of such Common Stock Equivalent (or any other Person). Except as contemplated below, no further adjustment of

the Exercise Price shall be made upon the actual issuance of such Common Stock upon conversion, exercise or exchange of such Common Stock

Equivalents or otherwise pursuant to the terms thereof, and if any such issuance or sale of such Common Stock Equivalents is made upon

exercise of any Options for which adjustment of this Warrant has been or is to be made pursuant to other provisions of this Section 3(h),

except as contemplated below, no further adjustment of the Exercise Price shall be made by reason of such issuance or sale.

9

iii.

Change in Option Price or Rate of Conversion. If the purchase or exercise price provided for in any Options, the additional

consideration, if any, payable upon the issue, conversion, exercise or exchange of any Common Stock Equivalents, or the rate at which

any Common Stock Equivalents are convertible into or exercisable or exchangeable for Common Stock increases or decreases at any time (other

than proportional changes in conversion or exercise prices, as applicable, in connection with an event referred to in Section 3(a)), the

Exercise Price in effect at the time of such increase or decrease shall be adjusted to the Exercise Price which would have been in effect

at such time had such Options or Common Stock Equivalents provided for such increased or decreased purchase price, additional consideration

or increased or decreased conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section

3(h)(iii), if the terms of any Option or Common Stock Equivalent that was outstanding as of the Initial Exercise Date are increased or

decreased in the manner described in the immediately preceding sentence, then such Option or Common Stock Equivalent and the Common Stock

deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such increase or decrease.

No adjustment pursuant to this Section 3(h) shall be made if such adjustment would result in an increase of the Exercise Price then in

effect.

iv.

Calculation of Consideration Received. If any Option and/or Common Stock Equivalents and/or Adjustment Right is issued in

connection with the issuance or sale or deemed issuance or sale of any other securities of the Company (as determined by the Holder, the

“Primary Security”, and such Option and/or Common Stock Equivalents and/or Adjustment Right, the “Secondary Securities”

and together with the Primary Security, each a “Unit”), together comprising one integrated transaction, the aggregate consideration

per share of Common Stock with respect to such Primary Security shall be deemed to be the lowest of (x) the purchase price of such Unit,

(y) if such Primary Security is an Option and/or Common Stock Equivalent, the lowest price per share for which one share of Common Stock

is at any time issuable upon the exercise or conversion of the Primary Security in accordance with Section 3(h)(i) or 3(h)(ii) above and

(z) the lowest VWAP of the Common Stock on any Trading Day during the ten (10) Trading Day period (the “Adjustment Period”)

beginning five (5) Trading Days before and ending five (5) Trading Days immediately following the public announcement of such Dilutive

Issuance (for the avoidance of doubt, if such public announcement is released prior to the opening of the applicable Trading Market on

a Trading Day, such Trading Day shall be the first Trading Day in such five Trading Day period and if this Warrant is exercised, on any

given Exercise Date during any such Adjustment Period, solely with respect to such portion of this Warrant converted on such applicable

Exercise Date, such applicable Adjustment Period shall be deemed to have ended on, and included, the Trading Day immediately prior to

such Exercise Date). If any Common Stock, Options or Common Stock Equivalents are issued or sold or deemed to have been issued or sold

for cash, the consideration received therefor will be deemed to be the net amount of consideration received by the Company therefor. If

any Common Stock, Options or Common Stock Equivalents are issued or sold for a consideration other than cash, the amount of such consideration

received by the Company will be the fair value of such consideration, except where such consideration consists of publicly traded securities,

in which case the amount of consideration received by the Company for such securities will be the arithmetic average of the VWAPs of such

security beginning five (5) Trading Days before and ending five (5) Trading Days immediately following the date of receipt. If any Common

Stock, Options or Common Stock Equivalents are issued to the owners of the non-surviving entity in connection with any merger in which

the Company is the surviving entity, the amount of consideration therefor will be deemed to be the fair value of such portion of the net

assets and business of the non-surviving entity as is attributable to such Common Stock, Options or Common Stock Equivalents (as the case

may be). The fair value of any consideration other than cash or publicly traded securities will be determined jointly by the Company and

the Holder. If such parties are unable to reach agreement within ten (10) days after the occurrence of an event requiring valuation (the

“Valuation Event”), the fair value of such consideration will be determined within five (5) Trading Days after the tenth (10th)

day following such Valuation Event by an independent, reputable appraiser jointly selected by the Company and the Holder. The determination

of such appraiser shall be final and binding upon all parties absent manifest error and the fees and expenses of such appraiser shall

be borne by the Company. For purposes of hereof, “Adjustment Right” means any right granted with respect to any securities

issued in connection with, or with respect to, any issuance or sale (or deemed issuance or sale in accordance with this Section 3(h) of

Common Stock that could result in a decrease in the net consideration received by the Company in connection with, or with respect to,

such securities (including, without limitation, any cash settlement rights, cash adjustment or other similar rights).

10

v.

Record Date. If the Company takes a record of the holders of Common Stock for the purpose of entitling them (A) to receive

a dividend or other distribution payable in Common Stock, Options or in Convertible Securities or (B) to subscribe for or purchase Common

Stock, Options or Convertible Securities, then such record date will be deemed to be the date of the issuance or sale of the Common Stock

deemed to have been issued or sold upon the declaration of such dividend or the making of such other distribution or the date of the granting

of such right of subscription or purchase (as the case may be).

i)

Floor Price. Other than any adjustments made pursuant to Section 3(b) and Section 3(h) above, in no event, at any time while

this Warrant is outstanding shall the Exercise Price be adjusted to a price that is less than the Floor Price, including, for the avoidance

of doubt, any adjustments provided in this Warrant.“Floor Price” means a price equal to $[ ]1,

as adjusted for share dividends, share splits, stock combinations and other similar transactions.

Section

4.    Transfer of Warrant.

a)

Transferability. This Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant

at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the

form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon

the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or

Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument

of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant

shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender

this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant

to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this

Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant

Shares without having a new Warrant issued.

b)

New Warrants. This Warrant may be divided into or combined with other Warrants upon presentation hereof at the aforesaid

office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed

by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division

or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided

or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial Exercise Date of

this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

c)

Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose

(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat

the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,

and for all other purposes, absent actual notice to the contrary.

Section

5.    Miscellaneous.

a)

No Rights as Shareholder; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends

or other rights as a shareholder of the Company prior to the issuance of Warrant Shares upon exercise hereof as set forth in Section 2(d)(i),

except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise”

pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company

be required to net cash settle an exercise of this Warrant.

______________________

1

Being 20% of the Nasdaq Minimum Price

11

b)

Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably

satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any share certificate relating to the Warrant Shares,

and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,

shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the

Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant

or stock certificate.

c)

Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right

required or granted herein shall not be a Trading Day, then such action may be taken or such right may be exercised on the next succeeding

Trading Day.

d)

Authorized Shares.

The Company covenants

that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued share capital a sufficient number

of Common Stock to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company

further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing

the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action

as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation,

or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares

which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented

by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable

and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any

transfer occurring contemporaneously with such issue).

Except and to the

extent as waived or consented to by the Holders of a majority in interest of the Warrants (based on the number of Warrant Shares underlying

such Warrants) then outstanding which are not beneficially owned by Affiliates of the Company, the Company shall not by any action, including,

without limitation, amending its articles of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,

issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of

this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as

may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment; provided, however, that

no modification of the terms (including but not limited to the adjustments described in Section 3) upon which the Warrants are exercisable

or the rights of holders of Warrants to receive liquidated damages or other payments in cash from the Company or reducing the percentage

required for consent to modification of this Warrant may be made without the consent of the Holder of each outstanding Warrant affected

thereby. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above

the amount payable therefor upon such exercise immediately prior to such increase in par value, except for any increase as a result of

any share consolidation as set forth in Section 3(a), (ii) take all such action as may be necessary or appropriate in order that the Company

may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially

reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof,

as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any

action, which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price,

the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory

body or bodies having jurisdiction thereof.

12

e)

Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall

be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles

of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the

transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers,

shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City

of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of

New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated

hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that

it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient

venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any

such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)

to such party at the address in effect for notices to it under this Warrant and agrees that, subject to applicable law, such service shall

constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any

right to serve process in any other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any

provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable

attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

f)

Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,

and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

g)

Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder

shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other

provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in

any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses

including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting

any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

h)

Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without

limitation, any Notice of Exercise, shall be in writing and delivered personally, by e-mail, or sent by a nationally recognized overnight

courier service, addressed to the Company, at Unit 1109, Lippo Sun Plaza, 28 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong, Attention:

Chief Executive Officer, email address: gao.sf@rqscapital.com, or such other email address or address as the Company may specify

for such purposes by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company hereunder

shall be in writing and delivered personally, by e-mail, or sent by a nationally recognized overnight courier service addressed to each

Holder at the e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries

hereunder shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered

via e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading

Day after the time of transmission, if such notice or communication is delivered via e-mail at the e-mail address set forth in this Section

on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following

the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom

such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information

regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current

Report on Form 8-K.

i)

Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant

to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the

Holder for the purchase price of any Common Stock or as a shareholder of the Company, whether such liability is asserted by the Company

or by creditors of the Company.

13

j)

Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages,

will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate

compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to

assert the defense in any action for specific performance that a remedy at law would be adequate.

k)

Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby

shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted

assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and

shall be enforceable by the Holder or holder of Warrant Shares.

l)

Amendment. Other than Section 2(e) and this Section 5(l), which may not be amended, this Warrant may be modified or amended

or the provisions hereof waived with the written consent of the Company, on the one hand, and the Holder, on the other hand.

m)

Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and

valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision

shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining

provisions of this Warrant.

n)

Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be

deemed a part of this Warrant.

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

(Signature Page Follows)

14

IN WITNESS WHEREOF, the Company

has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first indicated above.

TIANCI INTERNATIONAL, INC.

By: __________________________________________

Name:

Title:

15

NOTICE OF EXERCISE

To:     TIANCI

INTERNATIONAL, INC.

(1)

The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant

(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,

if any.

(2)

Payment shall take the form of (check applicable box):

☐ in lawful money

of the United States; or

☐ if permitted the

cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise

this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in

subsection 2(c).

(3)

Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

_______________________________

The Warrant Shares shall be delivered to the following

DWAC Account Number:

_______________________________

_______________________________

_______________________________

[SIGNATURE

OF HOLDER]

Name of Investing Entity: _______________________________________________________________________

Signature of Authorized Signatory of Investing

Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: _______________________________________________________________________________________

16

ASSIGNMENT FORM

(To assign the foregoing

Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

FOR VALUE RECEIVED, the foregoing

Warrant and all rights evidenced thereby are hereby assigned to

Name:

____________________________________

(Please Print)

Address:

____________________________________

Phone Number:

Email Address:

(Please Print)

____________________________________

____________________________________

Dated: _______________ __, ______

Holder’s Signature: _________________________________

Holder’s Address: __________________________________

17

EX-4.2 — PRE-FUNDED COMMON STOCK PURCHASE WARRANT

EX-4.2

Filename: tianci_ex0402.htm · Sequence: 4

Exhibit 4.2

PRE-FUNDED COMMON STOCK PURCHASE WARRANT

TIANCI INTERNATIONAL, INC.

Warrant Shares: [_______]

Issuance Date: ________, 2026

THIS PRE-FUNDED COMMON STOCK

PURCHASE WARRANT (this “Warrant”) certifies that, for value received, [_____________] or its assigns (the “Holder”)

is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after

the date hereof (the “Initial Exercise Date”) and until this Warrant is exercised in full (the “Termination

Date”) but not thereafter, to subscribe for and purchase from TIANCI INTERNATIONAL, INC., a Nevada corporation (the “Company”),

up to [______] Common Stock (as subject to adjustment hereunder, the “Warrant Shares”). The purchase price of one Common

Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

Section 1.     Definitions.

Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement

(the “Purchase Agreement”), dated [-], 2026, among the Company and the purchasers signatory thereto.

Section 2.      Exercise.

a)

Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any

time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed

PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”).

Within the earlier of (i) one (1) Trading Day and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined

in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the

Warrant Shares specified in the applicable Notice of Exercise by wire transfer unless the cashless exercise procedure specified in Section

2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion

guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary,

the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant

Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company

for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial

exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the

effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant

Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such

purchases. The Company shall deliver any objection to any Notice of Exercise on the Trading Day of receipt of such notice. The Holder

and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following

the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given

time may be less than the amount stated on the face hereof.

b)

Exercise Price. The aggregate exercise price of this Warrant, except for a nominal exercise price of $0.001 per Warrant

Share, was pre-funded to the Company on or prior to the Initial Exercise Date and, consequently, no additional consideration (other than

the nominal exercise price of $0.001 per Warrant Share) shall be required to be paid by the Holder to any Person to effect any exercise

of this Warrant. The Holder shall not be entitled to the return or refund of all, or any portion, of such pre-paid aggregate exercise

price under any circumstance or for any reason whatsoever. The remaining unpaid exercise price per Common Stock under this Warrant shall

be $0.001, subject to adjustment hereunder (the “Exercise Price”).

c)

Cashless Exercise. This Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise”

in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by

(A), where:

1

(A) =    as applicable:

(i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1)

both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant

to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b) of Regulation

NMS promulgated under the federal securities laws) on such Trading Day, (ii) the highest Bid Price of the Common Stock on the principal

Trading Market as reported by Bloomberg L.P. (“Bloomberg”) within two (2) hours of the time of the Holder’s delivery

of the Notice of Exercise pursuant to Section 2(a) hereof if such Notice of Exercise is delivered during “regular trading hours,”

or within two (2) hours after the close of “regular trading hours” on a Trading Day or (iii) the VWAP on the date of the applicable

Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is delivered pursuant to Section

2(a) hereof after two (2) hours following the close of “regular trading hours” on such Trading Day;

(B) =    the Exercise

Price of this Warrant, as adjusted hereunder; and

(X) =    the number

of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were

by means of a cash exercise rather than a cashless exercise.

If

Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the

Securities Act, the Warrant Shares being issued shall take on the registered characteristics of the Warrants being exercised.  The

Company agrees not to take any position contrary to this Section 2(c).

“Bid Price”

means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock are then listed

or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading

Market on which the Common Stock are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York

City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price

of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock are not then

listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink Open Market (or a similar

organization or agency succeeding to its functions of reporting prices), the most recent bid price per Common Stock so reported, or (d) in

all other cases, the fair market value of a Common Stock as determined by an independent appraiser selected in good faith by the Holders

of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall

be paid by the Company.

“VWAP”

means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock are then listed

or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)

on the Trading Market on which the Common Stock are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30

a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted

average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock

are not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink Open Market

(or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per Common Stock so reported,

or (d) in all other cases, the fair market value of a Common Stock as determined by an independent appraiser selected in good faith

by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses

of which shall be paid by the Company.

2

d) Mechanics of Exercise.

i.

Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted

by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository

Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in

such system and either (A) the Holder has sold the Warrant Shares pursuant to an effective registration statement registering the resale

of the Warrant Shares by the Holder or (B) the Warrant Shares are eligible for resale by the Holder without volume or manner-of-sale limitations

or any requirement for the Company to comply with the current public information obligations of Rule 144(c) pursuant to Rule 144 (assuming

cashless exercise of the Warrants), and otherwise by physical delivery of a certificate, registered in the Company’s share register

in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise

to the address specified by the Holder in the Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days after the

delivery to the Company of the Notice of Exercise (and receipt of the aggregate Exercise Price) and (ii) the number of Trading Days comprising

the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (and receipt of the aggregate Exercise Price)

(such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise and receipt of payment of the

aggregate Exercise Price (other than in the case of a cashless exercise), the Holder shall be deemed for all corporate purposes to have

become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery

of the Warrant Shares. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant

remains outstanding and exercisable. As used herein, “Standard Settlement Period” means the standard settlement period,

expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on

the date of delivery of the Notice of Exercise. Notwithstanding the foregoing, with respect to any Notice(s) of Exercise delivered on

or prior to 12:00 p.m. (New York City time) on the Initial Exercise Date, which may be delivered at any time after the time of execution

of the Placement Agent Agreement, the Company agrees to deliver the Warrant Shares subject to such notice(s) by 4:00 p.m. (New York City

time) on the Initial Exercise Date and the Initial Exercise Date shall be the Warrant Share Delivery Date for purposes hereunder, provided

that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by the Company by such Warrant

Share Delivery Date.

ii.

Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request

of a Holder and upon surrender of this Warrant, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing

the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects

be identical with this Warrant.

iii.

Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant

to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

iv.

Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available

to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions

of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required

by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, Common

Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise

(a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s

total purchase price (including brokerage commissions, if any) for the Common Stock so purchased exceeds (y) the amount obtained by multiplying

(1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times

(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either

reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such

exercise shall be deemed rescinded) or deliver to the Holder the number of Common Stock that would have been issued had the Company timely

complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase

price of $11,000 to cover a Buy-In with respect to an attempted exercise of this Warrant to purchase Common Stock with an aggregate sale

price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be

required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in

respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s

right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific

performance and/or injunctive relief with respect to the Company’s failure to timely deliver Common Stock upon exercise of the Warrant

as required pursuant to the terms hereof.

3

v.

No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise

of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company

shall round up to the nearest whole share.

vi.

Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer

tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the

Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;

provided, however, that, in the event that Warrant Shares are to be issued in a name other than the name of the Holder,

this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and

the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository

Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of

the Warrant Shares.

vii.

Closing of Books. The Company will not close its shareholder books or records in any manner which prevents the timely exercise

of this Warrant, pursuant to the terms hereof.

e) Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant,

and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that

after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s

Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution

Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of

the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include

the number of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude

the number of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially

owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted

portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation

on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution

Parties. Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated

in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the

Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act

and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation

contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned

by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the

sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether

this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties)

and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall

have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated

above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For

purposes of this Section 2(e), in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common

Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B)

a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth

the number of Common Stock outstanding.  Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm

orally and in writing to the Holder the number of Common Stock then outstanding.  In any case, the number of outstanding Common Stock

shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder

or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial

Ownership Limitation” shall be [9.99/4.99%] of the number of Common Stock outstanding immediately after giving effect to the

issuance of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the

Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds

9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this

Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation

will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall

be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph

(or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to

make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph

shall apply to a successor holder of this Warrant.

4

Section 3.     Certain

Adjustments.

a)

Share Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend or

otherwise makes a distribution or distributions to all holders of its Common Stock or any other equity or equity equivalent securities

payable in Common Stock (which, for avoidance of doubt, shall not include any Common Stock issued by the Company upon exercise of this

Warrant), (ii) subdivides issued and outstanding Common Stock into a larger number of shares, (iii) combines (including by way of reverse

share split) issued and outstanding Common Stock into a smaller number of shares, or (iv) issues by reclassification of Common Stock any

shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator

shall be the number of Common Stock (excluding treasury shares, if any) issued and outstanding immediately before such event and of which

the denominator shall be the number of Common Stock issued and outstanding immediately after such event, and the number of shares issuable

upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged.

Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the date of payment of such dividend or distribution

and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

b)

Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time, while this Warrant

is outstanding, the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or

other property pro rata to all record holders of any class of Common Stock (the “Purchase Rights”), then the Holder

will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have

acquired if the Holder had held the number of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations

on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is

taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders

of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that, to the

extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership

Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such

Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the

Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

c)

Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend

or other distribution of its assets (or rights to acquire its assets) to all holders of Common Stock, by way of return of capital or otherwise

(including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off,

reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),

at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution

to the same extent that the Holder would have participated therein if the Holder had held the number of Common Stock acquirable upon complete

exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership

Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as

of which the record holders of Common Stock are to be determined for the participation in such Distribution (provided, however,

that, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial

Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership

of any Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for

the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership

Limitation).

5

d)

Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in

one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company and

all of its Subsidiaries, taken as a whole, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance

or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect,

purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common

Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders

of greater than 50% of the outstanding Common Stock or greater than 50% of the voting power of the common equity of the Company, (iv)

the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization

of the Common Stock or any compulsory share exchange pursuant to which the Common Stock are effectively converted into or exchanged for

other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock

or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off,

merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires greater than 50%

of the outstanding Common Stock or greater than 50% of the voting power of the common equity of the Company (each a “Fundamental

Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant

Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option

of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of Common Stock of the successor

or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate

Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of Common Stock for which this

Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise

of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply

to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one Common Stock in such Fundamental

Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the

relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities,

cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration

it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity in

a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all

of the obligations of the Company under this Warrant in accordance with the provisions of this Section 3(d) pursuant to written agreements

in form and substance reasonably satisfactory to Holders of a majority in interest of the Warrants (based on the number of Warrant Shares

underlying such Warrants) then outstanding (as determined without unreasonable delay) prior to such Fundamental Transaction and shall,

at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written

instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital

stock of such Successor Entity (or its parent entity) equivalent to the Common Stock acquirable and receivable upon exercise of this Warrant

(without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price

which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the Common Stock

pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such

exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental

Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction,

the Successor Entity shall succeed to, and be substituted for, the Company under this Warrant (so that from and after the occurrence or

consummation of such Fundamental Transaction, each and every provision of this Warrant referring to the “Company” shall refer

instead to the Successor Entity or Successor Entities, jointly and severally), and the Successor Entity or Successor Entities may exercise

every right and power of the Company prior thereto and the Successor Entity or Successor Entities shall assume all of the obligations

of the Company prior thereto under this Warrant with the same effect as if such Successor Entity or Successor Entities, jointly and severally,

had been named as the Company herein. For the avoidance of doubt, the Holder shall be entitled to the benefits of the provisions of this

Section 3(d) regardless of (i) whether the Company has sufficient authorized Common Stock for the issuance of Warrant Shares and/or (ii)

whether a Fundamental Transaction occurs prior to the Initial Exercise Date.

6

e)

Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,

as the case may be. For purposes of this Section 3, the number of Common Stock deemed to be issued and outstanding as of a given date

shall be the sum of the number of Common Stock (excluding treasury shares, if any) issued and outstanding.

f)

Notice to Holder.

i.

Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company

shall promptly deliver to the Holder by email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment

to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

ii.

Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form)

on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the

Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of

any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification

of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of

the assets of the Company or any compulsory share exchange whereby the Common Stock are converted into other securities, cash or property,

or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company,

then, in each case, the Company shall cause to be delivered by email to the Holder at its last email address as it shall appear upon the

Warrant Register of the Company, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified,

a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants,

or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions,

redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer

or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of

record shall be entitled to exchange their Common Stock for securities, cash or other property deliverable upon such reclassification,

consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in

the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that

any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries,

the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain

entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering

such notice except as may otherwise be expressly set forth herein.

Section 4.     Transfer

of Warrant.

a)

Transferability. This Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant

at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the

form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon

the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or

Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument

of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant

shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender

this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant

to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this

Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant

Shares without having a new Warrant issued.

7

b)

New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office

of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by

the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division

or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided

or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the original Issuance Date of

this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

c)

Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose

(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat

the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,

and for all other purposes, absent actual notice to the contrary.

Section 5.

Miscellaneous.

a)

No Rights as Shareholder; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends

or other rights as a shareholder of the Company prior to the issuance of Warrant Shares upon the exercise hereof as set forth in Section

2(d)(i), except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless

exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event

shall the Company be required to net cash settle an exercise of this Warrant.

b)

Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably

satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any share certificate relating to the Warrant Shares,

and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,

shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the

Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant

or stock certificate.

c)

Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right

required or granted herein shall not be a Trading Day, then such action may be taken or such right may be exercised on the next succeeding

Trading Day.

d)

Authorized Shares.

The Company covenants

that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued share capital a sufficient number

of Common Stock to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company

further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing

the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action

as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation,

or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares

which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented

by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable

and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any

transfer occurring contemporaneously with such issue).

8

Except and to the

extent as waived or consented to by Holders of a majority in interest of the Warrants (based on the number of Warrant Shares underlying

such Warrants) then outstanding which are not beneficially owned by Affiliates of the Company, the Company shall not by any action, including,

without limitation, amending its articles of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,

issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of

this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as

may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment; provided, however, that

no modification of the terms (including but not limited to the adjustments described in Section 3) upon which the Warrants are exercisable

or the rights of holders of Warrants to receive liquidated damages or other payments in cash from the Company or reducing the percentage

required for consent to modification of this Warrant may be made without the consent of the Holder of each outstanding Warrant affected

thereby. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above

the amount payable therefor upon such exercise immediately prior to such increase in par value, except for any increase as a result of

any share consolidation as set forth in Section 3(a), (ii) take all such action as may be necessary or appropriate in order that the Company

may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially

reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof,

as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any

action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price,

the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory

body or bodies having jurisdiction thereof.

e)

Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall

be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles

of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the

transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers,

shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City

of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of

New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated

hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that

it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient

venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any

such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)

to such party at the address in effect for notices to it under this Warrant and agrees that, subject to applicable law, such service shall

constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any

right to serve process in any other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any

provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable

attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

f)

Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,

and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

g)

Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder

shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other

provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in

any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses

including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting

any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

9

h)

Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without

limitation, any Notice of Exercise, shall be in writing and delivered personally, by e-mail, or sent by a nationally recognized overnight

courier service, addressed to the Company, at Unit 1109, Lippo Sun Plaza, 28 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong, Attention:

Chief Executive Officer, email address: gao.sf@rqscapital.com, or such other email address or address as the Company may specify for

such purposes by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company hereunder

shall be in writing and delivered personally, by e-mail, or sent by a nationally recognized overnight courier service addressed to each

Holder at the e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries

hereunder shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered

via e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading

Day after the time of transmission, if such notice or communication is delivered via e-mail at the e-mail address set forth in this Section

on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following

the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom

such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public

information regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant

to a Current Report on Form 8-K.

i)

Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant

to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the

Holder for the purchase price of any Common Stock or as a shareholder of the Company, whether such liability is asserted by the Company

or by creditors of the Company.

j)

Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages,

will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate

compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to

assert the defense in any action for specific performance that a remedy at law would be adequate.

k)

Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby

shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted

assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and

shall be enforceable by the Holder or holder of Warrant Shares.

l)

Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company,

on the one hand, and the Holder, on the other hand.

m)

Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and

valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision

shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining

provisions of this Warrant.

n)

Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be

deemed a part of this Warrant.

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

(Signature Page Follows)

10

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above

indicated.

TIANCI INTERNATIONAL, INC.

By: __________________________________________

Name:

Title:

11

NOTICE OF EXERCISE

To:TIANCI

INTERNATIONAL, INC.

(1)

The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant

(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,

if any.

(2)

Payment shall take the form of (check applicable box):

☐ in lawful money

of the United States; or

☐ if permitted the

cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise

this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in

subsection 2(c).

(3)

Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

_______________________________

The Warrant Shares shall be delivered to the following

DWAC Account Number:

_______________________________

_______________________________

_______________________________

[SIGNATURE

OF HOLDER]

Name of Investing Entity: _______________________________________________________________________

Signature of Authorized Signatory of Investing

Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: _______________________________________________________________________________________

12

ASSIGNMENT FORM

(To assign the foregoing

Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

FOR VALUE RECEIVED, the foregoing

Warrant and all rights evidenced thereby are hereby assigned to

Name:

____________________________________

(Please Print)

Address:

____________________________________

Phone Number:

Email Address:

(Please Print)

____________________________________

____________________________________

Dated: _______________ __, ______

Holder’s Signature: _________________________________

Holder’s Address: __________________________________

13

EX-4.3 — FORM OF PLACEMENT AGENT WARRANT

EX-4.3

Filename: tianci_ex0403.htm · Sequence: 5

Exhibit 4.3

PLACEMENT AGENT WARRANT TO PURCHASE COMMON STOCK

TIANCI INTERNATIONAL, INC.

Warrant Shares: [_______]

Issuance Date: ________, 2026

THIS PLACEMENT AGENT WARRANT

TO PURCHASE COMMON STOCK (this “Warrant”) certifies that, for value received, Maxim Partners LLC or its assigns (the

“Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set

forth, at any time from time to time from and after the 181st day (the “Initial Exercise Date”) immediately

following the date of effectiveness of that certain registration statement on Form F-1 (File No. 333-296417) filed by the Company, in

accordance with FINRA Rule 5110(e), and on or prior to 5:00 p.m. (New York City time) the third (3) year anniversary of the date hereof,

provided that, if such date is not a Trading Day, then the next Trading Day (the “Termination Date”) but not thereafter,

to subscribe for and purchase from TIANCI INTERNATIONAL, INC., a Nevada corporation (the “Company”), up to [______]

Common Stock (as subject to adjustment hereunder, the “Warrant Shares”). The purchase price of one Common Stock under

this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

Section 1.     Definitions.

Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement

(the “Purchase Agreement”), dated [-], 2026, among the Company and the purchasers signatory thereto.

Section 2.     Exercise.

a)

Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any

time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed

PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”).

Within the earlier of (i) one (1) Trading Day and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined

in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the

Warrant Shares specified in the applicable Notice of Exercise by wire transfer unless the cashless exercise procedure specified in Section

2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion

guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary,

the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant

Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company

for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the Company. Partial

exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the

effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant

Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such

purchases. The Company shall deliver any objection to any Notice of Exercise on the Trading Day on receipt of such notice. The Holder

and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following

the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given

time may be less than the amount stated on the face hereof.

b)

Exercise Price. The initial exercise price per Common Stock under this Warrant shall be $_____, subject to adjustment hereunder.

c)

Cashless Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus

contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may only be exercised, in whole

or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant

Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

1

(A) =    as applicable:

(i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1)

both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant

to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b) of Regulation

NMS promulgated under the federal securities laws) on such Trading Day, (ii) the highest Bid Price of the Common Stock on the principal

Trading Market as reported by Bloomberg L.P. (“Bloomberg”) within two (2) hours of the time of the Holder’s delivery

of the Notice of Exercise pursuant to Section 2(a) hereof if such Notice of Exercise is delivered during “regular trading hours,”

or within two (2) hours after the close of “regular trading hours” on a Trading Day or (iii) the VWAP on the date of the applicable

Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is delivered pursuant to Section

2(a) hereof after two (2) hours following the close of “regular trading hours” on such Trading Day;

(B) =    the Exercise

Price of this Warrant, as adjusted hereunder; and

(X) =   the number

of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were

by means of a cash exercise rather than a cashless exercise.

If

Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the

Securities Act, the Warrant Shares being issued shall take on the registered characteristics of the Warrants being exercised.  The

Company agrees not to take any position contrary to this Section 2(c).

“Bid Price”

means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock are then listed

or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading

Market on which the Common Stock are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York

City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price

of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock are not then

listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink Open Market (or a similar

organization or agency succeeding to its functions of reporting prices), the most recent bid price per Common Stock so reported, or (d) in

all other cases, the fair market value of a Common Stock as determined by an independent appraiser selected in good faith by the Holders

of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall

be paid by the Company.

“VWAP”

means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock are then listed

or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)

on the Trading Market on which the Common Stock are then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30

a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted

average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Common Stock

are not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the Pink Open Market

(or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per Common Stock so reported,

or (d) in all other cases, the fair market value of a Common Stock as determined by an independent appraiser selected in good faith

by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses

of which shall be paid by the Company.

2

d) Mechanics of Exercise.

i.

Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted

by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository

Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in

such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of

the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical delivery of a

certificate, registered in the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares

to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date

that is the earlier of (i) one (1) Trading Day after the delivery to the Company of the Notice of Exercise and (ii) the number of Trading

Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant

Share Delivery Date”), provided that the payment of the aggregate Exercise Price (other than in the instance of a cashless exercise)

is received by the Company by the Warrant Share Delivery Date. Upon delivery of the Notice of Exercise, the Holder shall be deemed, solely

for purposes of Regulation SHO under the Securities Act to have become the holder of record of the Warrant Shares with respect to which

this Warrant has been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise

Price (other than in the case of a cashless exercise) is received within the earlier of (i) one (1) Trading Day and (ii) the number of

Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason

to deliver or cause the delivery to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date,

the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to

such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing

to $20 per Trading Day on the third Trading Day after the Warrant Share Delivery Date) for each Trading Day after such Warrant Share Delivery

Date until such Warrant Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is

a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement

Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading

Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise.

ii.

Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request

of a Holder and upon surrender of this Warrant, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing

the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects

be identical with this Warrant.

iii.

Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant

to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

3

iv.

Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available

to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions

of Section 2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required

by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, Common

Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise

(a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s

total purchase price (including brokerage commissions, if any) for the Common Stock so purchased exceeds (y) the amount obtained by multiplying

(1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times

(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either

reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such

exercise shall be deemed rescinded) or deliver to the Holder the number of Common Stock that would have been issued had the Company timely

complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase

price of $11,000 to cover a Buy-In with respect to an attempted exercise of this Warrant to purchase Common Stock with an aggregate sale

price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be

required to pay the Holder $1,000. The Holder shall provide the Company with written notice indicating the amounts payable to the Holder

with respect to the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s

right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific

performance and/or injunctive relief with respect to the Company’s failure to timely deliver Common Stock upon exercise of the Warrant

as required pursuant to the terms hereof.

v.

No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise

of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company

shall round up to the nearest whole share.

vi.

Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer

tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the

Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;

provided, however, that, in the event that Warrant Shares are to be issued in a name other than the name of the Holder,

this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and

the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

The Company shall pay all Transfer Agent fees required for same-day processing of any Notice of Exercise and all fees to the Depository

Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of

the Warrant Shares.

vii.

Closing of Books. The Company will not close its shareholder books or records in any manner, which prevents the timely exercise

of this Warrant, pursuant to the terms hereof.

4

e) Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant,

and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that

after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s

Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution

Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of

the foregoing sentence, the number of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include

the number of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude

the number of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially

owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted

portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation

on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution

Parties.  Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated

in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the

Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act

and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation

contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned

by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the

sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether

this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties)

and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall

have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated

above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For

purposes of this Section 2(e), in determining the number of outstanding Common Stock, a Holder may rely on the number of outstanding Common

Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B)

a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth

the number of Common Stock outstanding.  Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm

orally and in writing to the Holder the number of Common Stock then outstanding.  In any case, the number of outstanding Common Stock

shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder

or its Affiliates or Attribution Parties since the date as of which such number of outstanding Common Stock was reported. The “Beneficial

Ownership Limitation” shall be [9.99/4.99%] of the number of Common Stock outstanding immediately after giving effect to the

issuance of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the

Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds

9.99% of the number of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this

Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation

will not be effective until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall

be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph

(or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to

make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph

shall apply to the successor holder of this Warrant.

5

Section 3.     Certain

Adjustments.

a)

Share Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend or

otherwise makes a distribution or distributions to all holders of its Common Stock or any other equity or equity equivalent securities

payable in Common Stock (which, for avoidance of doubt, shall not include any Common Stock issued by the Company upon exercise of this

Warrant), (ii) subdivides issued and outstanding Common Stock into a larger number of shares, (iii) combines (including by way of reverse

share split) issued and outstanding Common Stock into a smaller number of shares, or (iv) issues by reclassification of Common Stock any

shares of share capital of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator

shall be the number of Common Stock (excluding treasury shares, if any) issued and outstanding immediately before such event and of which

the denominator shall be the number of Common Stock issued and outstanding immediately after such event, and the number of shares issuable

upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged.

Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the date of payment of such dividend or distribution

and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification.

b)

Reserved.

c)

Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time, while this Warrant

is outstanding, the Company grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or

other property pro rata to all record holders of any class of Common Stock (the “Purchase Rights”), then the Holder

will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have

acquired if the Holder had held the number of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations

on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a record is

taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders

of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however, that, to the

extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership

Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such

Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the

Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

d)

Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend

or other distribution of its assets (or rights to acquire its assets) to all holders of Common Stock, by way of return of capital or otherwise

(including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off,

reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),

at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution

to the same extent that the Holder would have participated therein if the Holder had held the number of Common Stock acquirable upon complete

exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership

Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as

of which the record holders of Common Stock are to be determined for the participation in such Distribution (provided, however,

that to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial

Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership

of any Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for

the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership

Limitation).

6

e)

Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in

one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company and

all of its Subsidiaries, taken as a whole, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance

or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect,

purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common

Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders

of greater than 50% of the outstanding Common Stock or greater than 50% of the voting power of the common equity of the Company, (iv)

the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization

of the Common Stock or any compulsory share exchange pursuant to which the Common Stock are effectively converted into or exchanged for

other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock

or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off,

merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires greater than 50%

of the outstanding Common Stock or greater than 50% of the voting power of the common equity of the Company (each a “Fundamental

Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant

Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option

of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of Common Stock of the successor

or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate

Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of Common Stock for which this

Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise

of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply

to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one Common Stock in such Fundamental

Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the

relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities,

cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as the Alternate Consideration

it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity in

a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all

of the obligations of the Company under this Warrant in accordance with the provisions of this Section 3(e) pursuant to written agreements

in form and substance reasonably satisfactory to Holders of a majority in interest of the Warrants (based on the number of Warrant Shares

underlying such Warrants) then outstanding (as determined without unreasonable delay) prior to such Fundamental Transaction and shall,

at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written

instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital

stock of such Successor Entity (or its parent entity) equivalent to the Common Stock acquirable and receivable upon exercise of this Warrant

(without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price

which applies the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the Common Stock

pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such

exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental

Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction,

the Successor Entity shall succeed to, and be substituted for, the Company under this Warrant (so that from and after the occurrence or

consummation of such Fundamental Transaction, each and every provision of this Warrant referring to the “Company” shall refer

instead to the Successor Entity or Successor Entities, jointly and severally), and the Successor Entity or Successor Entities may exercise

every right and power of the Company prior thereto and the Successor Entity or Successor Entities shall assume all of the obligations

of the Company prior thereto under this Warrant with the same effect as if such Successor Entity or Successor Entities, jointly and severally,

had been named as the Company herein. For the avoidance of doubt, the Holder shall be entitled to the benefits of the provisions of this

Section 3(e) regardless of (i) whether the Company has sufficient authorized Common Stock for the issuance of Warrant Shares and/or (ii)

whether a Fundamental Transaction occurs prior to the Initial Exercise Date.

7

f)

Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,

as the case may be. For purposes of this Section 3, the number of Common Stock deemed to be issued and outstanding as of a given date

shall be the sum of the number of Common Stock (excluding treasury shares, if any) issued and outstanding.

g)

Notice to Holder.

i.

Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company

shall promptly deliver to the Holder by email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment

to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

ii.

Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form)

on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the

Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of

any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification

of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of

the assets of the Company, or any compulsory share exchange whereby the Common Stock are converted into other securities, cash or property,

or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company,

then, in each case, the Company shall cause to be delivered by email to the Holder at its last email address as it shall appear upon the

Warrant Register of the Company, at least twenty (20) calendar days prior to the applicable record or effective date hereinafter specified,

a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants,

or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions,

redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer

or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of

record shall be entitled to exchange their Common Stock for securities, cash or other property deliverable upon such reclassification,

consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in

the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that

any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries,

the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain

entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering

such notice except as otherwise be expressly set forth herein.

h)

Reserved.

i)

Floor Price. In no event, at any time while this Warrant is outstanding shall the Exercise Price be adjusted to a price

that is less than the Floor Price, including, for the avoidance of doubt, any adjustments provided in this Warrant.“Floor Price”

means a price equal to $[ ]1, as adjusted

for share dividends, share splits, stock combinations and other similar transactions.

_________________________

1 Being

20% of the Nasdaq Minimum Price

8

Section 4.     Transfer

of Warrant.

a)

Transferability. This Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant

at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the

form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon

the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or

Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument

of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant

shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender

this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant

to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this

Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant

Shares without having a new Warrant issued. This Warrant may not be sold, transferred, assigned, pledged, or hypothecated, or be the subject

of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of the securities

by any person for a period of 180 days immediately following the date of effectiveness of that certain registration statement on Form

F-1 (File No. 333-[ ]) filed by the Company, except as provided in FINRA Rule 5110(e).

b)

New Warrants. This Warrant may be divided into or combined with other Warrants upon presentation hereof at the aforesaid

office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed

by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division

or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided

or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial Exercise Date of

this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

c)

Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose

(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat

the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,

and for all other purposes, absent actual notice to the contrary.

Section 5.     Miscellaneous.

a)

No Rights as Shareholder; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends

or other rights as a shareholder of the Company prior to the issuance of Warrant Shares upon exercise hereof as set forth in Section 2(d)(i),

except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise”

pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company

be required to net cash settle an exercise of this Warrant.

b)

Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably

satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any share certificate relating to the Warrant Shares,

and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,

shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the

Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant

or stock certificate.

c)

Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right

required or granted herein shall not be a Trading Day, then such action may be taken or such right may be exercised on the next succeeding

Trading Day.

9

d)

Authorized Shares.

The Company covenants

that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued share capital a sufficient number

of Common Stock to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company

further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing

the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action

as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation,

or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares

which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented

by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable

and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any

transfer occurring contemporaneously with such issue).

Except and to the

extent as waived or consented to by the Holders of a majority in interest of the Warrants (based on the number of Warrant Shares underlying

such Warrants) then outstanding which are not beneficially owned by Affiliates of the Company, the Company shall not by any action, including,

without limitation, amending its articles of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,

issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of

this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as

may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment; provided, however, that

no modification of the terms (including but not limited to the adjustments described in Section 3) upon which the Warrants are exercisable

or the rights of holders of Warrants to receive liquidated damages or other payments in cash from the Company or reducing the percentage

required for consent to modification of this Warrant may be made without the consent of the Holder of each outstanding Warrant affected

thereby. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above

the amount payable therefor upon such exercise immediately prior to such increase in par value, except for any increase as a result of

any share consolidation as set forth in Section 3(a), (ii) take all such action as may be necessary or appropriate in order that the Company

may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially

reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof,

as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any

action, which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price,

the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory

body or bodies having jurisdiction thereof.

e)

Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall

be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles

of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the

transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers,

shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City

of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of

New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated

hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that

it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient

venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any

such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)

to such party at the address in effect for notices to it under this Warrant and agrees that, subject to applicable law, such service shall

constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any

right to serve process in any other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any

provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable

attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

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f)

Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered,

and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

g)

Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder

shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other

provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in

any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses

including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting

any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

h)

Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without

limitation, any Notice of Exercise, shall be in writing and delivered personally, by e-mail, or sent by a nationally recognized overnight

courier service, addressed to the Company, at Unit 1109, Lippo Sun Plaza, 28 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong, Attention:

Chief Executive Officer, email address: gao.sf@rqscapital.com, or such other email address or address as the Company may specify

for such purposes by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company hereunder

shall be in writing and delivered personally, by e-mail, or sent by a nationally recognized overnight courier service addressed to each

Holder at the e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries

hereunder shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered

via e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading

Day after the time of transmission, if such notice or communication is delivered via e-mail at the e-mail address set forth in this Section

on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following

the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom

such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information

regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current

Report on Form 8-K.

i)

Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant

to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the

Holder for the purchase price of any Common Stock or as a shareholder of the Company, whether such liability is asserted by the Company

or by creditors of the Company.

j)

Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages,

will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate

compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to

assert the defense in any action for specific performance that a remedy at law would be adequate.

k)

Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby

shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted

assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and

shall be enforceable by the Holder or holder of Warrant Shares.

l)

Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company,

on the one hand, and the Holder, on the other hand.

11

m)

Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and

valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision

shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining

provisions of this Warrant.

n)

Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be

deemed a part of this Warrant.

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

(Signature Page Follows)

12

IN WITNESS WHEREOF, the Company

has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first indicated above.

TIANCI INTERNATIONAL, INC.

By: __________________________________________

Name:

Title:

13

NOTICE OF EXERCISE

To:TIANCI

INTERNATIONAL, INC.

(1)

The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant

(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,

if any.

(2)

Payment shall take the form of (check applicable box):

☐ in lawful money

of the United States; or

☐ if permitted the

cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise

this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in

subsection 2(c).

(3)

Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

_______________________________

The Warrant Shares shall be delivered to the following

DWAC Account Number:

_______________________________

_______________________________

_______________________________

[SIGNATURE

OF HOLDER]

Name of Investing Entity: _______________________________________________________________________

Signature of Authorized Signatory of Investing

Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: _______________________________________________________________________________________

14

ASSIGNMENT FORM

(To assign the foregoing

Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

FOR VALUE RECEIVED, the foregoing

Warrant and all rights evidenced thereby are hereby assigned to

Name:

____________________________________

(Please Print)

Address:

____________________________________

Phone Number:

Email Address:

(Please Print)

____________________________________

____________________________________

Dated: _______________ __, ______

Holder’s Signature: _________________________________

Holder’s Address: __________________________________

15

EX-10.1 — FORM OF SECURITIES PURCHASE AGREEMENT

EX-10.1

Filename: tianci_ex1001.htm · Sequence: 6

Exhibit 10.1

SECURITIES

PURCHASE AGREEMENT

This Securities Purchase Agreement

(this “Agreement”) is dated as of June 16, 2026 between Tianci International, Inc., a Nevada corporation (the “Company”),

and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a “Purchaser”

and collectively the “Purchasers”).

WHEREAS, subject to the terms

and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities Act (as defined below)

as to the Shares, the Pre-Funded Warrants and the Common Warrants, the Company desires to issue and sell to each Purchaser, and each Purchaser,

severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described in this Agreement.

NOW, THEREFORE, IN CONSIDERATION

of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are

hereby acknowledged, the Company and each Purchaser agree as follows:

ARTICLE I.

DEFINITIONS

1.1 Definitions. In addition

to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings set forth

in this Section 1.1:

“Acquiring

Person” shall have the meaning ascribed to such term in Section 4.5.

“Action”

shall have the meaning ascribed to such term in Section 3.1(j).

“Affiliate”

means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control

with a Person as such terms are used in and construed under Rule 405 under the Securities Act.

“Board of Directors”

means the board of directors of the Company.

“Business Day”

means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by

law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required

by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” or any

other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so

long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally are

open for use by customers on such day.

“Closing”

means the closing of the purchase and sale of the Units pursuant to Section 2.1.

“Closing

Date” means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties

thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii) the Company’s

obligations to deliver the Securities, in each case, have been satisfied or waived, but in no event later than.the first (1st) Trading

Day following the date hereof (or the second (2nd) Trading Day following the date hereof if this Agreement is executed after 4:00 PM EST

but prior to 11:59 PM EST).

“Commission”

means the United States Securities and Exchange Commission.

“Common Stock”

means the common stock of the Company, par value $0.0001 per share, and any other class of securities into which such securities may hereafter

be reclassified or changed.

1

“Common Stock

Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any

time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any

time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

“Common Warrants”

means, collectively, the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) (vi)

hereof, which warrants shall be exercisable immediately and have a term of exercise equal to three (3) years, in the form of Exhibit

A attached hereto.

“Common Warrant

Shares” means the shares of Common Stock issuable upon exercise of the Common Warrants.

“Disclosure

Schedules” means the Disclosure Schedules of the Company delivered concurrently herewith.

“Disclosure

Time” means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00 a.m. (New York City time) and

before midnight (New York City time) on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following the date

hereof, unless otherwise instructed as to an earlier time by the Placement Agent, and (ii) if this Agreement is signed between midnight

(New York City time) and 9:00 a.m. (New York City time) on any Trading Day, no later than 9:01 a.m. (New York City time) on the date hereof,

unless otherwise instructed as to an earlier time by the Placement Agent.

“Evaluation

Date” shall have the meaning ascribed to such term in Section 3.1(s).

“Exchange Act”

means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

“Exempt Issuance”

means the issuance of (a) shares of Common Stock or options to employees, officers, consultants or directors of the Company pursuant to

any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board of Directors or a majority

of the members of a committee of non-employee directors established for such purpose for services rendered to the Company, (b) securities

upon the exercise or exchange of or conversion of any Securities issued hereunder, and/or other securities exercisable or exchangeable

for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement, provided that such securities have

not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise price, exchange

price or conversion price of such securities (other than in connection with stock splits or combinations), and (c) securities issued pursuant

to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, provided that any such

issuance shall only be to a Person (or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating company

or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company additional benefits

in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the

purpose of raising capital or to an entity whose primary business is investing in securities, and provided that such securities are issued

as “restricted securities” (as defined in Rule 144) and carry no registration rights that require or permit the filing of

any registration statement in connection therewith during the prohibition period in Section 4.11(a) herein.

“FCPA”

means the Foreign Corrupt Practices Act of 1977, as amended.

“GAAP”

shall have the meaning ascribed to such term in Section 3.1(h).

“Indebtedness”

shall have the meaning ascribed to such term in Section 3.1(aa).

“Intellectual

Property Rights” shall have the meaning ascribed to such term in Section 3.1(p).

2

“Liens”

means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

“Lock-Up Agreement”

means the Lock-Up Agreement, dated as of the date hereof, by and among the Company and the directors and officers of the Company, in the

form of Exhibit B attached hereto.

“Material Adverse

Effect” shall have the meaning assigned to such term in Section 3.1(b).

“Material Permits”

shall have the meaning ascribed to such term in Section 3.1(n).

“Person”

means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company,

joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

“Per Unit Purchase

Price” equals $0.81, subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other

similar transactions of the Common Stock that occur after the date of this Agreement.

“Per Pre-Funded

Unit Purchase Price” equals $0.809, subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations

and other similar transactions of the Common Stock that occur after the date of this Agreement.

“Placement

Agent” means Maxim Group LLC.

“Pre-Funded Unit” means

a fixed combination of one Pre-Funded Warrant and one Common Warrant.

“Pre-Funded Unit

Subscription Amount” means, as to each Purchaser, the aggregate amount to be paid for the Pre-Funded Units purchased hereunder

as specified below such Purchaser’s name on the signature page of this Agreement and next to the heading “Pre-Funded Unit

Subscription Amount,” in United States dollars and in immediately available funds.

“Pre-Funded

Warrant” means, collectively, the warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) (v)

hereof, if applicable, in the form of Exhibit C attached hereto.

“Pre-Funded

Warrant Shares” means the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants.

“Proceeding”

means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding,

such as a deposition), whether commenced or threatened.

“Product”

shall have the meaning ascribed to such term in Section 3.1(hh).

“Prospectus”

means the final prospectus filed for the Registration Statement.

“Preliminary Prospectus” means any preliminary prospectus included in the Registration Statement, as originally filed

or as part of any amendment thereto, or filed with the Commission pursuant to Rule 424(a) of the rules and regulations

of the Commission under the Securities Act.

“Purchased

Securities” means the Units and the Pre-Funded Units.

3

“Purchaser

Party” shall have the meaning ascribed to such term in Section 4.8.

“Registration

Statement” means the effective registration statement with Commission File No. 333-296417 which registers the sale of the Units,

Pre-Funded Units, the Shares, the Warrants and the Warrant Shares to the Purchasers.

“Required Approvals”

shall have the meaning ascribed to such term in Section 3.1(e).

“Rule 144”

means Rule 144 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.

“SEC Reports”

shall have the meaning ascribed to such term in Section 3.1(h).

“Securities”

means the Units, Pre-Funded Units, the Shares, the Warrants and the Warrant Shares.

“Securities

Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

“Shares”

means the shares of Common Stock issued or issuable to each Purchaser pursuant to this Agreement.

“Short Sales”

means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to include

locating and/or borrowing shares of Common Stock).

“Subscription

Amount” means, as to each Purchaser, the aggregate amount to be paid for the Units and Pre-Funded Units purchased hereunder

as specified below such Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription Amount,”

in United States dollars and in immediately available funds.

“Subsidiary”

means any subsidiary of the Company as set forth on in the SEC Reports, and shall, where applicable, also include any direct or

indirect subsidiary of the Company formed or acquired after the date hereof.

“Trading Day”

means a day on which the principal Trading Market is open for trading.

“Trading Market”

means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the

NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, the

OTCID Basic Market, OTCQB or the OTCQX (or any successors to any of the foregoing).

“Transaction

Documents” means this Agreement, the Warrants,  and the Lock-Up Agreements,  all exhibits and schedules thereto and

hereto and any other documents or agreements executed in connection with the transactions contemplated hereunder.

“Transfer Agent”

means Securities Transfer Corporation, the current transfer agent of the Company, with an address at  2901 Dallas Parkway #380 Plano,

TX 75093, and any successor transfer agent of the Company.

4

“Unit” means a fixed combination

of one Share and one Common Warrant.

“Unit Subscription Amount” means, as to each Purchaser, the aggregate amount to

be paid for the Units purchased hereunder as specified below such Purchaser’s name on the signature page of this Agreement and

next to the heading “Unit Subscription Amount,” in United States dollars and in immediately available funds.

“Warrants”

means, collectively, the Common Warrants and the Pre-Funded Warrants.

“Warrant Shares”

means, collectively, the Common Warrant Shares and the Pre-Funded Warrant Shares.

ARTICLE II.

PURCHASE AND SALE

2.1 Closing. On the Closing

Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution and delivery of this

Agreement by the parties hereto, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, up to an

aggregate of approximately $4,904,550 of Units as determined pursuant to Section 2.2(a). Unless otherwise directed by the Placement Agent,

each Purchaser’s Subscription Amount as set forth on the signature page hereto executed by such Purchaser shall be made available

for “Delivery Versus Payment” (“DVP”) settlement with the Company or its designee. The Company shall deliver

to each Purchaser its respective Shares (or Pre-Funded Warrant in lieu thereof) and Common Warrants (as applicable to such Purchaser)

as determined pursuant to Section 2.2(a), and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable

at the Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices

of the Placement Agent Counsel or such other location as the parties shall mutually agree. Each Purchaser acknowledges that, concurrently

with the Closing and pursuant to the Prospectus, the Company may sell up to $4,904,550 of additional Units to purchasers who are not parties

to this Agreement, less the aggregate Subscription Amount pursuant to this Agreement, and will issue to such purchasers such Units in

the same form and, respectively, at the same Per Unit Purchase Price. Unless otherwise directed by the Placement Agent, settlement of

the Shares shall occur via DVP (i.e., on the Closing Date, the Company shall issue the Shares registered in the Purchasers’ names

and addresses and released by the Transfer Agent directly to the account(s) at the Placement Agent identified by each Purchaser; upon

receipt of such Shares, the Placement Agent shall promptly electronically deliver such Shares to the applicable Purchaser, and payment

therefor shall be made by the Placement Agent (or its clearing firm) by wire transfer to the Company). Notwithstanding the foregoing,

with respect to any Notice(s) of Exercise (as defined in the Pre-Funded Warrants) delivered on or prior to 12:00 p.m. (New York City time)

on the Closing Date, which may be delivered at any time after the time of execution of this Agreement, the Company agrees to deliver the

Pre-Funded Warrant Shares subject to such notice(s) by 4:00 p.m. (New York City time) on the Closing Date and the Closing Date shall be

the Warrant Share Delivery Date (as defined in the Pre-Funded Warrants) for purposes hereunder, provided that payment of the aggregate

Exercise Price (as defined in the Pre-Funded Warrants) (other than in the case of a cashless exercise) is received by such Warrant Share

Delivery Date.

2.2 Deliveries.

(a) On or prior to the

Closing Date (except as indicated below), the Company shall deliver or cause to be delivered to each Purchaser the following:

(i) this Agreement duly

executed by the Company;

(ii) a legal opinion and

negative assurance letter of Ortoli Rosenstadt LLP, each such legal opinion, substantially in form and substance reasonably satisfactory

to the Placement Agent;

5

(iii) subject to the last

sentence of Section 2.1, the Company shall have provided each Purchaser with the Company’s wire instructions, on Company letterhead;

(iv) subject to the last

sentence of Section 2.1, a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver on an

expedited basis via The Depository Trust Company Deposit or Withdrawal at Custodian system (“DWAC”), Shares equal to

such Purchaser’s Unit Subscription Amount divided by the Per Unit Purchase Price, registered in the name of such Purchaser;

(v) if applicable, a Pre-Funded

Warrant registered in the name of such Purchaser to purchase up to a number of shares of Common Stock equal to such Purchaser’s

Pre-Funded Unit Subscription Amount divided by the Per Pre-Funded Unit Purchase Price, with an exercise price equal to $0.001, subject

to adjustment therein.

(vi) for each Purchaser,

a Common Warrant registered in the name of such Purchaser to purchase up to a number of Common Stock equal to 100% of such Purchaser’s

Subscription Amount divided by the Per Unit Purchase Price (rounded down to the nearest whole Share), with an exercise price equal to

the Per Unit Purchase Price, subject to adjustment therein;

(vii) a letter of Bush

& Associates CPA LLC on the date hereof and on the Closing Date, addressed to the Placement Agent, confirming that they are independent

registered public accountants within the meaning of the Securities Act and are in compliance with the applicable requirements relating

to the qualifications of accountants under Rule 2-01 of Regulation S-X of the Commission, and confirming, as of the date of each such

letter (or, with respect to matters involving changes or developments since the respective dates as of which specified financial information

is given in the Registration Statement, the Preliminary Prospectus and the Prospectus, as of a date not prior to the date hereof or more

than five days prior to the date of such letter), the conclusions and findings of said firms with respect to the financial information

and other matters required by the Placement Agent;

(viii) the duly executed

Lock-Up Agreements;

(ix) such information

and documents as the Placement Agent and counsel for the Placement Agent may reasonably require for the purposes of enabling them to pass

upon the issuance and sale of the Securities as contemplated herein, or in order to evidence the accuracy of any of the representations

and warranties, or the satisfaction of any of the conditions or agreements, herein contained;

(x) At the Closing Date,

there shall be furnished to the Placement Agent a certificate, dated the date of its delivery, signed by each of the Chief Executive Officer

and the Chief Financial Officer of the Company, in their capacities as such, and not individually, in form and substance reasonably satisfactory

to the Placement Agent and counsel to the Placement Agent, certifying and confirming the satisfaction of certain closing conditions referenced

in Section 2.3(b), such certificate an “Officer’s Certificate,”; and

(xi) the Prospectus

(which may be delivered in accordance with Rule 172 under the Securities Act).

(b) On or prior to the

Closing Date, each Purchaser shall deliver or cause to be delivered to the Company, the following:

(i) this Agreement duly

executed by such Purchaser; and

(ii) such Purchaser’s

Subscription Amount, which shall be made available for “Delivery Versus Payment” settlement with the Company or its designee.

6

2.3 Closing Conditions.

(a) The obligations

of the Company hereunder in connection with the Closing are subject to the following conditions being met:

(i) the accuracy in all

material respects (or, to the extent representations or warranties are qualified by materiality, in all respects) on the Closing Date

of the representations and warranties of the Purchasers contained herein (unless as of a specific date therein in which case they shall

be accurate in all material respects (or, to the extent representations or warranties are qualified by materiality, in all respects) as

of such date);

(ii) all obligations,

covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been performed; and

(iii) the delivery by

each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

(b) The respective obligations

of the Purchasers hereunder in connection with the Closing are subject to the following conditions being met:

(i) the accuracy in all

material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects)

when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of a specific date

therein in which case they shall be accurate in all material respects or, to the extent representations or warranties are qualified by

materiality or Material Adverse Effect, in all respects) as of such date;

(ii) all obligations,

covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;

(iii) the delivery by

the Company of the items set forth in Section 2.2(a) of this Agreement;

(iv) there shall have

been no Material Adverse Effect with respect to the Company since the date hereof; and

(v) from the date hereof

to the Closing Date, no stop order suspending the effectiveness of any Registration Statement shall have been issued and no proceedings

for that purpose shall have been instituted or contemplated by the Commission, trading in the Common Stock shall not have been suspended

by the Commission or the Company’s principal Trading Market, and, at any time prior to the Closing Date, trading in securities generally

as reported by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities

whose trades are reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United

States or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national

or international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case,

in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Securities at the Closing.

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

3.1 Representations and Warranties

of the Company. Except as explicitly described in the Disclosure Schedules, which descriptions shall be deemed a part hereof and shall

qualify any representation or otherwise made herein to the extent of the disclosure contained in the applicable Disclosure Schedules,

the Company hereby makes the following representations and warranties to each Purchaser:

7

(a) Subsidiaries.

All of the Subsidiaries of the Company are set forth on Schedule 3.1(a). The Company owns, directly or indirectly, all of the capital

stock or other equity interests of each Subsidiary which it owns, free and clear of any Liens, and all of the issued and outstanding shares

of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to

subscribe for or purchase securities. If the Company has no subsidiaries, all other references to the Subsidiaries or any of them in the

Transaction Documents shall be disregarded.

(b) Organization

and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing

and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to

own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary is in

violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational

or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign

corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification

necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected

to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse

effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries,

taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis

its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”) and no Proceeding

has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority

or qualification.

(c) Authorization;

Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated

by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The

execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of the

transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further

action is required by the Company, the Board of Directors, a committee of the Board of Directors or the Company’s stockholders in

connection herewith or therewith, in each case, other than in connection with the Required Approvals. This Agreement and each other Transaction

Document to which it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance

with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in

accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization,

moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating

to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution

provisions may be limited by applicable law.

(d) No Conflicts.

The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents to which it is a party, the

issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby and thereby do not and will not

(i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate or articles of incorporation,

bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse

of time or both would become a default) under, result in the creation of any Lien upon any of the properties or assets of the Company

or any Subsidiary, or give to others any rights of termination, amendment, anti-dilution or similar adjustments, acceleration or cancellation

(with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or

Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or asset

of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict with or result in a violation

of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which

the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset

of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not have or reasonably

be expected to result in a Material Adverse Effect.

8

(e) Filings, Consents

and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any

filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with

the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) the filings required pursuant to

Section 4.4 of this Agreement, (ii) the filing with the Commission of the Prospectus, and (iii) application(s) to each applicable Trading

Market for the listing of the Shares, the Pre-Funded Warrant Shares and the Common Warrant Shares for trading thereon in the time and

manner required thereby (collectively, the “Required Approvals”).

(f) Issuance of

the Securities; Registration. The Securities are duly authorized and, when issued and paid for in accordance with the applicable Transaction

Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The Pre-Funded

Warrant Shares, when issued in accordance with the terms of the Pre-Funded Warrants, will be validly issued, fully paid and nonassessable,

free and clear of all Liens imposed by the Company. The Common Warrant Shares, when issued in accordance with the terms of the Common

Warrants, will be validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company. The Company has prepared

and filed the Registration Statement in conformity with the requirements of the Securities Act, which became effective on June 15, 2026,

including the Prospectus, and such amendments and supplements thereto as may have been required to the date of this Agreement. The Registration

Statement is effective under the Securities Act and no stop order preventing or suspending the effectiveness of the Registration Statement

or suspending or preventing the use of the Prospectus has been issued by the Commission and no proceedings for that purpose have been

instituted or, to the knowledge of the Company, are threatened by the Commission. At the time the Registration Statement and any amendments

thereto became effective, at the date of this Agreement and at the Closing Date, the Registration Statement and any amendments thereto

conformed and will conform in all material respects to the requirements of the Securities Act and did not and 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

not misleading; and the Prospectus and any amendments or supplements thereto, at the time the Prospectus or any amendment or supplement

thereto was issued and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities

Act and did not and will not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make

the statements therein, in the light of the circumstances under which they were made, not misleading.

(g) Capitalization.

The capitalization of the Company as of the date hereof is as set forth on Schedule 3.1(g), which Schedule 3.1(g) shall

also include the number of Common Stock owned beneficially, and of record, by Affiliates of the Company as of the date hereof. Except

as set forth on Schedule 3.1(g), the Company has not issued any capital stock since its most recently filed periodic report under

the Exchange Act, other than pursuant to (i) the exercise of employee stock options and granting of restricted stock units under the Company’s

stock option plans and (ii) the issuance of shares of Common Stock to employees pursuant to the Company’s employee stock purchase

plans and pursuant to the conversion and/or exercise of Common Stock Equivalents outstanding as of the date of the most recently filed

periodic report under the Exchange Act. No Person has any right of first refusal, preemptive right, right of participation, or any similar

right to participate in the transactions contemplated by the Transaction Documents. Except as a result of the purchase and sale of the

Securities and as set forth in the SEC Reports, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments

of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or

giving any Person any right to subscribe for or acquire, any shares of Common Stock or the capital stock of any Subsidiary, or contracts,

commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue additional shares of

Common Stock or Common Stock Equivalents or capital stock of any Subsidiary. The issuance and sale of the Securities will not obligate

the Company or any Subsidiary to issue shares of Common Stock or other securities to any Person (other than the Purchasers). There are

no outstanding securities or instruments of the Company or any Subsidiary with any provision that adjusts the exercise, conversion, exchange

or reset price of such security or instrument upon an issuance of securities by the Company or any Subsidiary. There are no outstanding

securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions, and there are no contracts,

commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to redeem a security of the

Company or such Subsidiary. The Company does not have any stock appreciation rights or “phantom stock” plans or agreements

or any similar plan or agreement. All of the outstanding shares of capital stock of the Company are duly authorized, validly issued, fully

paid and nonassessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding shares

was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. No further approval or authorization

of any stockholder, the Board of Directors or others is required for the issuance and sale of the Securities. There are no stockholders

agreements, voting agreements or other similar agreements with respect to the Company’s capital stock to which the Company is a

party or, to the knowledge of the Company, between or among any of the Company’s stockholders.

9

(h) SEC Reports;

Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by

the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding

the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials,

including the exhibits thereto and documents incorporated by reference therein, together with the with the Preliminary Prospectus and

the Prospectus, being collectively referred to herein as the “SEC Reports”) on a timely basis or has received a valid

extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their respective

dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable,

and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required

to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made,

not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act, or, if it has been an issuer subject

to Rule 144(i), it is not currently a “shell company” and at least one year has passed since it filed “Form 10 Information”

with the Commission. The financial statements of the Company included in the SEC Reports comply in all material respects with applicable

accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such

financial statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent

basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the

notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all

material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results

of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end

audit adjustments.

(i) Material Changes;

Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements included within the SEC

Reports, except as set forth in the Prospectus, (i) there has been no event, occurrence or development that has had or that could reasonably

be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other

than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities

not required to be reflected in the Company’s financial statements pursuant to GAAP or disclosed in filings made with the Commission,

(iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of

cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital

stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company

stock option plans. The Company does not have pending before the Commission any request for confidential treatment of information. Except

for the issuance of the Securities contemplated by this Agreement, no event, liability, fact, circumstance, occurrence or development

has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective

businesses, prospects, properties, operations, assets or financial condition that would be required to be disclosed by the Company under

applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least one Trading

Day prior to the date that this representation is made.

(j) Litigation.

Except as set out in the SEC Reports, there is no action, suit, inquiry, notice of violation, proceeding or investigation pending or,

to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before

or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign)

(collectively, an “Action”). Neither the Company nor any Subsidiary, nor to the knowledge of the Company, any director

or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities

laws or a claim of breach of fiduciary duty. To the knowledge of the Company, there has not been, and there is not pending or contemplated,

any investigation by the Commission involving the Company or any current or former director or officer of the Company. The Commission

has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary

under the Exchange Act or the Securities Act.

10

(k) Labor Relations.

No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company, which could

reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’ employees is a member

of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither the Company nor any of

its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that their relationships

with their employees are good. To the knowledge of the Company, no executive officer of the Company or any Subsidiary, is, or is now expected

to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement

or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third party, and the continued

employment of each such executive officer does not subject the Company or any of its Subsidiaries to any liability with respect to any

of the foregoing matters. The Company and its Subsidiaries are in compliance with all U.S. federal, state, local and foreign laws and

regulations relating to employment and employment practices, terms and conditions of employment and wages and hours, except where the

failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

(l) Compliance.

Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived

that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or

any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement

or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default

or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental authority

or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation

all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality

and safety and employment and labor matters, except in each case as could not have or reasonably be expected to result in a Material Adverse

Effect.

(m) Environmental

Laws. The Company and its Subsidiaries (i) are in compliance with all federal, state, local and foreign laws relating to pollution

or protection of human health or the environment (including ambient air, surface water, groundwater, land surface or subsurface strata),

including laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants, or toxic or

hazardous substances or wastes (collectively, “Hazardous Materials”) into the environment, or otherwise relating to

the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as

all authorizations, codes, decrees, demands, or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits,

plans or regulations, issued, entered, promulgated or approved thereunder (“Environmental Laws”); (ii) have received

all permits licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses; and

(iii) are in compliance with all terms and conditions of any such permit, license or approval where in each clause (i), (ii) and (iii),

the failure to so comply could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect.

(n) Regulatory

Permits. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal,

state, local or foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC Reports, except

where the failure to possess such permits could not reasonably be expected to result in a Material Adverse Effect (“Material

Permits”), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification

of any Material Permit.

(o) Title to Assets.

The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them and good and marketable

title in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each case free and

clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not materially interfere with the

use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens for the payment of federal, state

or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP and, the payment of which is neither delinquent

nor subject to penalties. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under

valid, subsisting and enforceable leases with which the Company and the Subsidiaries are in compliance.

11

(p) Intellectual

Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications,

service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights

necessary or required for use in connection with their respective businesses as described in the SEC Reports and which the failure to

so have would reasonably be expected to result in a Material Adverse Effect (collectively, the “Intellectual Property Rights”).

Other than as set forth in the SEC Reports, none of, and neither the Company nor any Subsidiary has received a notice (written or otherwise)

that any of, the Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned,

within two (2) years from the date of this Agreement. Neither the Company nor any Subsidiary has received, since the date of the latest

audited financial statements included within the SEC Reports, a written notice of a claim or otherwise has any knowledge that the Intellectual

Property Rights violate or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have a Material

Adverse Effect. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement

by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable security measures

to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually

or in the aggregate, reasonably be expected to have a Material Adverse Effect.

(q) Insurance.

The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such

amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited

to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able

to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may

be necessary to continue its business without a significant increase in cost.

(r) Transactions

With Affiliates and Employees. Except as disclosed in the Registration Statement and the Prospectus, none of the officers or directors

of the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently

a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors), including

any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal

property to or from, providing for the borrowing of money from or lending of money to or otherwise requiring payments to or from any officer,

director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial

interest or is an officer, director, trustee, stockholder, member or partner, in each case in excess of $120,000 other than for (i) payment

of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other

employee benefits, including stock option agreements under any stock option plan of the Company.

(s) Sarbanes-Oxley;

Internal Accounting Controls. The Company and the Subsidiaries are in compliance with any and all applicable requirements of the Sarbanes-Oxley

Act of 2002, as amended, that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the

Commission thereunder that are effective as of the date hereof and as of the Closing Date. The Company and the Subsidiaries maintain a

system of internal accounting controls with the goal of providing reasonable assurance that: (i) transactions are executed in accordance

with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial

statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s

general or specific authorization, and (iv) the recorded accountability for assets is compared with the existing assets at reasonable

intervals and appropriate action is taken with respect to any differences. The Company and the Subsidiaries have established disclosure

controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and the Subsidiaries and designed such

disclosure controls and procedures to ensure that information required to be disclosed by the Company in the reports it files or submits

under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules

and forms. The Company’s certifying officers have evaluated the effectiveness of the disclosure controls and procedures of the Company

and the Subsidiaries as of the end of the period covered by the most recently filed periodic report under the Exchange Act (such date,

the “Evaluation Date”). The Company presented in its most recently filed periodic report under the Exchange Act the

conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as

of the Evaluation Date. Since the Evaluation Date, there have been no changes in the internal control over financial reporting (as such

term is defined in the Exchange Act) of the Company and its Subsidiaries that have materially affected, or is reasonably likely to materially

affect, the internal control over financial reporting of the Company and its Subsidiaries.

12

(t) Certain Fees.

Except for fees payable by the Company to the Placement Agent, no brokerage or finder’s fees or commissions are or will be payable

by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other

Person with respect to the transactions contemplated by the Transaction Documents. The Purchasers shall have no obligation with respect

to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that may

be due in connection with the transactions contemplated by the Transaction Documents.

(u) Investment Company.

The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities, will not be or be an Affiliate

of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. The Company shall conduct

its business in a manner so that it will not become an “investment company” subject to registration under the Investment Company

Act of 1940, as amended.

(v) Registration

Rights. No Person has any right to cause the Company or any Subsidiary to effect the registration under the Securities Act of any

securities of the Company or any Subsidiary.

(w) Listing and Maintenance

Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company has taken no

action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under

the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such registration. Except

as set forth in the SEC Reports, the Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market

on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance

requirements of such Trading Market. The Common Stock is currently eligible for electronic transfer through the Depository Trust Company

or another established clearing corporation and the Company is current in payment of the fees to the Depository Trust Company (or such

other established clearing corporation) in connection with such electronic transfer.

(x) Application of

Takeover Protections. The Company and the Board of Directors have taken all necessary action, if any, in order to render inapplicable

any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar

anti-takeover provision under the Company’s certificate of incorporation (or similar charter documents) or the laws of its state

of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and the Company fulfilling their obligations

or exercising their rights under the Transaction Documents, including without limitation as a result of the Company’s issuance of

the Securities and the Purchasers’ ownership of the Securities.

(y) Disclosure.

Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company confirms

that neither it nor any other Person acting on its behalf has provided any of the Purchasers or their agents or counsel with any information

that it believes constitutes or might constitute material, non-public information which is not otherwise disclosed in the Prospectus.

The Company understands and confirms that the Purchasers will rely on the foregoing representation in effecting transactions in securities

of the Company. All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company and its Subsidiaries,

their respective businesses and the transactions contemplated hereby is true and correct and does not contain any untrue statement of

a material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances

under which they were made, not misleading. The Company acknowledges and agrees that no Purchaser makes or has made any representations

or warranties with respect to the transactions contemplated hereby other than those specifically set forth in Section 3.2 hereof.

(z) No Integrated

Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, neither the Company,

nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security

or solicited any offers to buy any security, under circumstances that would cause this offering of the Securities to be integrated with

prior offerings by the Company for purposes of any applicable shareholder approval provisions of any Trading Market on which any of the

securities of the Company are listed or designated.

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(aa) [RESERVED].

(bb) Tax Status.

Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect,

the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign income and

franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid all taxes and other

governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations

and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the

periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the

taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim.

(cc) Foreign Corrupt

Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent or other person

acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment

or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government

officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully

any contribution made by the Company or any Subsidiary (or made by any person acting on its behalf of which the Company is aware) which

is in violation of law, or (iv) violated in any material respect any provision of FCPA.

(dd) Accountants.

To the knowledge and belief of the Company, the Company’s accounting firm is a registered public accounting firm as required by

the Exchange Act.

(ee) Acknowledgment

Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers is acting solely

in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated thereby.

The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in any similar capacity)

with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Purchaser or any of their

respective representatives or agents in connection with the Transaction Documents and the transactions contemplated thereby is merely

incidental to the Purchasers’ purchase of the Securities. The Company further represents to each Purchaser that the Company’s

decision to enter into this Agreement and the other Transaction Documents has been based solely on the independent evaluation of the transactions

contemplated hereby by the Company and its representatives.

(ff) Acknowledgment

Regarding Purchaser’s Trading Activity. Anything in this Agreement or elsewhere herein to the contrary notwithstanding (except

for Section 4.14 hereof), it is understood and acknowledged by the Company that: (i) none of the Purchasers has been asked by the Company

to agree, nor has any Purchaser agreed, to desist from purchasing or selling, long and/or short, securities of the Company, or “derivative”

securities based on securities issued by the Company or to hold the Securities for any specified term; (ii) past or future open market

or other transactions by any Purchaser, specifically including, without limitation, Short Sales or “derivative” transactions,

before or after the closing of this or future private placement transactions, may negatively impact the market price of the Company’s

publicly-traded securities; (iii) any Purchaser, and counter-parties in “derivative” transactions to which any such Purchaser

is a party, directly or indirectly, presently may have a “short” position in the Common Stock, and (iv) each Purchaser shall

not be deemed to have any affiliation with or control over any arm’s length counter-party in any “derivative” transaction.

The Company further understands and acknowledges that (y) one or more Purchasers may engage in hedging activities at various times during

the period that the Securities are outstanding, including, without limitation, during the periods that the value of the Common Warrant

Shares deliverable with respect to Securities are being determined, and (z) such hedging activities (if any) could reduce the value of

the existing stockholders’ equity interests in the Company at and after the time that the hedging activities are being conducted.

The Company acknowledges that such aforementioned hedging activities do not constitute a breach of any of the Transaction Documents.

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(gg) Regulation M

Compliance. The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly, any action

designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale

or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation for soliciting purchases of, any of the Securities,

or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company,

other than, in the case of clauses (ii) and (iii), compensation paid to the Placement Agent in connection with the placement of the Securities.

(hh) [RESERVED].

(ii) Stock Option

Plans. Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the

terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock

on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s

stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice

to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public

announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

(jj) Cybersecurity.

Except as would not reasonably be expected to result in a Material Adverse Event, (i)(x) there has been no security breach or other compromise

of or relating to any of the Company’s or any Subsidiary’s information technology and computer systems, networks, hardware,

software, data (including the data of its respective customers, employees, suppliers, vendors and any third party data maintained by or

on behalf of it), equipment or technology (collectively, “IT Systems and Data”) and (y) other than as disclosed in

the SEC Reports, the Company and the Subsidiaries have not been notified of, and has no knowledge of any event or condition that would

reasonably be expected to result in, any security breach or other compromise to its IT Systems and Data; (ii) the Company and the Subsidiaries

are presently in compliance with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator

or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and security of IT Systems

and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification, except as

would not, individually or in the aggregate, have a Material Adverse Effect; (iii) the Company and the Subsidiaries have implemented and

maintained commercially reasonable safeguards to maintain and protect its material confidential information and the integrity, continuous

operation, redundancy and security of all IT Systems and Data; and (iv) the Company and the Subsidiaries have implemented backup and disaster

recovery technology consistent with industry standards and practices.

(kk) Office of Foreign

Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director, officer, agent, employee

or affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets

Control of the U.S. Treasury Department (“OFAC”).

(ll) U.S. Real Property

Holding Corporation. The Company is not and has never been a U.S. real property holding corporation within the meaning of Section

897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

(mm) Bank Holding

Company Act. Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act of 1956, as

amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal

Reserve”). Neither the Company nor any of its Subsidiaries or Affiliates owns or controls, directly or indirectly, five percent

(5%) or more of the outstanding shares of any class of voting securities or twenty-five percent or more of the total equity of a bank

or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither the Company nor any of its Subsidiaries or

Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to

regulation by the Federal Reserve.

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(nn) Money Laundering.

The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance in all material respects with

applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended,

applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money Laundering Laws”),

and no Action or Proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or

any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any Subsidiary, threatened.

(oo) Other Covered

Persons. Other than the Placement Agent, the Company is not aware of any person (other than any Issuer Covered Person) that has been

or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any Securities.

(pp) Notice of Disqualification

Events. The Company will notify the Purchasers in writing, prior to the Closing Date of (i) any Disqualification Event relating to

any Issuer Covered Person and (ii) any event that would, with the passage of time, reasonably be expected to become a Disqualification

Event relating to any Issuer Covered Person, in each case of which it is aware.

3.2 Representations and

Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants as of the date

hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they shall be accurate

as of such date):

(a) Organization; Authority.

Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the laws

of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power

and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its

obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such Purchaser of the

transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability

company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which it is a party has been duly

executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally

binding obligation of such Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general equitable

principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement

of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief

or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.

(b) Own Account.

Such Purchaser is acquiring the Securities as principal for its own account and has no direct or indirect arrangement or understandings

with any other persons to distribute or regarding the distribution of such Securities (this representation and warranty not limiting such

Purchaser’s right to sell the Securities pursuant to the Registration Statement or otherwise in compliance with applicable federal

and state securities laws). Such Purchaser is acquiring the Securities hereunder in the ordinary course of its business.

(c) Experience of Such

Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in

business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities,

and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an investment in the

Securities and, at the present time, is able to afford a complete loss of such investment.

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(d) Access to Information.

Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents (including all exhibits and schedules

thereto) and the SEC Reports and has been afforded, (i) the opportunity to ask such questions as it has deemed necessary of, and to receive

answers from, representatives of the Company concerning the terms and conditions of the offering of the Securities and the merits and

risks of investing in the Securities all such questions, if any, have been answered to its satisfaction; (ii) access to information about

the Company and its financial condition, results of operations, business, properties, management and prospects sufficient to enable it

to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire

without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. Such

Purchaser acknowledges and agrees that neither the Placement Agent nor any Affiliate of the Placement Agent has provided such Purchaser

with any information or advice with respect to the Securities nor is such information or advice necessary or desired. Neither the Placement

Agent nor any Affiliate has made or makes any representation as to the Company or the quality of the Securities and the Placement Agent

and any Affiliate may have acquired non-public information with respect to the Company which such Purchaser agrees need not be provided

to it. In connection with the issuance of the Securities to such Purchaser, neither the Placement Agent nor any of its Affiliates has

acted as a financial advisor or fiduciary to such Purchaser.

(e) Certain Transactions

and Confidentiality. Other than consummating the transactions contemplated hereunder, such Purchaser has not, nor has any Person acting

on behalf of or pursuant to any understanding with such Purchaser, directly or indirectly executed any purchases or sales, including Short

Sales, of the securities of the Company during the period commencing as of the time that such Purchaser first received definitive pricing

terms (written or oral) from the Company or any other Person representing the Company setting forth the definitive pricing terms of the

transactions contemplated hereunder and ending immediately prior to the execution hereof. Notwithstanding the foregoing, in the case of

a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s

assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions

of such Purchaser’s assets, the representation set forth above shall only apply with respect to the portion of assets managed by

the portfolio manager that made the investment decision to purchase the Securities covered by this Agreement. Other than to other Persons

party to this Agreement or to such Purchaser’s representatives, including, without limitation, its officers, directors, partners,

legal and other advisors, employees, agents and Affiliates, such Purchaser has maintained the confidentiality of all disclosures made

to it in connection with this transaction (including the existence and terms of this transaction). Notwithstanding the foregoing, for

the avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect

to locating or borrowing shares in order to effect Short Sales or similar transactions in the future.

The Company acknowledges and agrees that the representations

contained in this Section 3.2 shall not modify, amend or affect such Purchaser’s right to rely on the Company’s representations

and warranties contained in this Agreement or any representations and warranties contained in any other Transaction Document or any other

document or instrument executed and/or delivered in connection with this Agreement or the consummation of the transactions contemplated

hereby. Notwithstanding the foregoing, for the avoidance of doubt, nothing contained herein shall constitute a representation or warranty,

or preclude any actions, with respect to locating or borrowing shares in order to effect Short Sales or similar transactions in the future.

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

4.1 Legends.

The Shares, Pre-Funded Warrants, Common Warrants and Warrant Shares shall be issued free of legends.

4.2 Furnishing of Information. Until the earlier

of the time that (i) no Purchaser owns Securities or (ii) the Warrants have expired, the Company covenants to timely file (or obtain extensions

in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof

pursuant to the Exchange Act even if the Company is not then subject to the reporting requirements of the Exchange Act.

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4.3 Integration. The Company

shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of

the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would be integrated with the offer

or sale of the Securities for purposes of the rules and regulations of any Trading Market such that it would require shareholder approval

prior to the closing of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction.

4.4 Securities Laws Disclosure;

Publicity. The Company shall (a) by the Disclosure Time, issue a press release disclosing the material terms of the transactions contemplated

hereby, and (b) file a Current Report on Form 8-K, including the Transaction Documents as exhibits thereto, with the Commission within

the time required by the Exchange Act. From and after the issuance of such press release, the Company represents to the Purchasers that

it shall have publicly disclosed all material, non-public information delivered to any of the Purchasers by the Company or any of its

Subsidiaries, or any of their respective officers, directors, employees, Affiliates or agents, including, without limitation, the Placement

Agent, in connection with the transactions contemplated by the Transaction Documents. In addition, effective upon the issuance of such

press release, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement, whether

written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, employees, Affiliates or

agents, including, without limitation, the Placement Agent, on the one hand, and any of the Purchasers or any of their Affiliates on the

other hand, shall terminate and be of no further force or effect. The Company understands and confirms that each Purchaser shall be relying

on the foregoing covenant in effecting transactions in securities of the Company. The Company and each Purchaser shall consult with each

other in issuing any other press releases with respect to the transactions contemplated hereby, and neither the Company nor any Purchaser

shall issue any such press release nor otherwise make any such public statement without the prior consent of the Company, with respect

to any press release of any Purchaser, or without the prior consent of each Purchaser, with respect to any press release of the Company,

which consent shall not unreasonably be withheld or delayed, except if such disclosure is required by law, in which case the disclosing

party shall promptly provide the other party with prior notice of such public statement or communication. Notwithstanding the foregoing,

the Company shall not publicly disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the Commission

or any regulatory agency or Trading Market, without the prior written consent of such Purchaser, except (a) as required by federal securities

law in connection with the filing of final Transaction Documents with the Commission and (b) to the extent such disclosure is required

by law or Trading Market regulations, in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted

under this clause (b).

4.5 Shareholder Rights Plan.

No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that any Purchaser is an “Acquiring

Person” under any control share acquisition, business combination, poison pill (including any distribution under a rights agreement)

or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company, or that any Purchaser could be deemed to trigger

the provisions of any such plan or arrangement, by virtue of receiving Securities under the Transaction Documents or under any other agreement

between the Company and the Purchasers.

4.6 Non-Public Information.

Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, which shall be

disclosed pursuant to Section 4.4, the Company covenants and agrees that neither it, nor any other Person acting on its behalf will provide

any Purchaser or its agents or counsel with any information that constitutes, or the Company reasonably believes constitutes, material

non-public information, unless prior thereto such Purchaser shall have consented in writing to the receipt of such information and agreed

in writing with the Company to keep such information confidential. The Company understands and confirms that each Purchaser shall be relying

on the foregoing covenant in effecting transactions in securities of the Company. To the extent that the Company, any of its Subsidiaries,

or any of their respective officers, directors, agents, employees or Affiliates delivers any material, non-public information to a Purchaser

without such Purchaser’s consent, the Company hereby covenants and agrees that such Purchaser shall not have any duty of confidentiality

to the Company, any of its Subsidiaries, or any of their respective officers, directors, employees, Affiliates or agents, including, without

limitation, the Placement Agent, or a duty to the Company, any of its Subsidiaries or any of their respective officers, directors, employees,

Affiliates or agents, including, without limitation, the Placement Agent, not to trade on the basis of, such material, non-public information,

provided that the Purchaser shall remain subject to applicable law. To the extent that any notice provided pursuant to any Transaction

Document constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously

with the delivery of such notice file such notice with the Commission pursuant to a Current Report on Form 8-K. The Company understands

and confirms that each Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company.

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4.7 Use of Proceeds. The

Company shall use the net proceeds from the sale of the Securities hereunder in the manner set forth in the Prospectus, and shall not

use such proceeds: (a) for the satisfaction of any portion of the Company’s debt (other than payment of trade payables and accrued

liabilities in the ordinary course of the Company’s business and prior practices), (b) for the redemption of any Common Stock or

Common Stock Equivalents, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC regulations.

4.8 Indemnification of

Purchasers. Subject to the provisions of this Section 4.8, the Company will indemnify and hold each Purchaser and its directors, officers,

shareholders, members, partners, employees and agents (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), each Person who controls such Purchaser (within the meaning of Section

15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members, partners or

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 such controlling persons (each, a “Purchaser Party”) harmless from any and all losses, liabilities,

obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and

reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer or incur as a result of or relating

to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in the other

Transaction Documents or (b) any action instituted against the Purchaser Parties in any capacity (including a Purchaser Party’s

status as an investor), or any of them or their respective Affiliates, by the Company or any stockholder of the Company who is not an

Affiliate of such Purchaser Party, arising out of or relating to any of the transactions contemplated by the Transaction Documents.

For the avoidance of doubt,

the indemnification provided herein is intended to, and shall also cover, direct claims brought by the Company against the Purchaser Parties;

provided, however, that such indemnification shall not cover any loss, claim, damage or liability to the extent it is finally judicially

determined to be attributable to any Purchaser Party’s breach of any of the representations, warranties, covenants or agreements

made by such Purchaser Party in any Transaction Document or any conduct by a Purchaser Party which is finally judicially determined to

constitute fraud, gross negligence or willful misconduct.

If any action shall be brought

against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly

notify the Company in writing, and, except with respect to direct claims brought by the Company, the Company shall have the right to assume

the defense thereof with counsel of its own choosing reasonably acceptable to the Purchaser Party. Any Purchaser Party shall have the

right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel

shall be at the expense of such Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized

by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume such defense and to employ counsel

or (iii) in such action there is, in the reasonable opinion of counsel to the applicable Purchaser Party (which may be internal counsel),

a material conflict on any material issue between the position of the Company and the position of such Purchaser Party, in which case

the Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company will not

be liable to any Purchaser Party under this Agreement for any settlement by a Purchaser Party effected without the Company’s prior

written consent, which shall not be unreasonably withheld or delayed. In addition, if any Purchaser Party takes actions to collect amounts

due under any Transaction Documents or to enforce the provisions of any Transaction Documents, then the Company shall pay the costs incurred

by such Purchaser Party for such collection, enforcement or action, including, but not limited to, attorneys’ fees and disbursements.

The indemnification and other payment obligations required by this Section 4.8 shall be made by periodic payments of the amount thereof

during the course of the investigation, defense, collection, enforcement or action, as and when bills are reasonably incurred and received;

provided, that if any Purchaser Party is finally judicially determined not to be entitled to indemnification or payment under this Section

4.8, such Purchaser Party shall promptly reimburse the Company for any payments that are advanced under this sentence. The indemnity agreements

contained herein shall be in addition to any cause of action or similar right of any Purchaser Party against the Company or others and

any liabilities the Company may be subject to pursuant to law.

4.9 Reservation of Common Stock.

As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at all times, free of preemptive

rights, a sufficient number of shares of Common Stock for the purpose of enabling the Company to issue the Shares pursuant to this Agreement

and Pre-Funded Warrant Shares pursuant to any exercise of the Pre-Funded Warrants. The Company shall reserve and keep available at all

times, free of preemptive rights, a sufficient number of shares of Common Stock for the purpose of enabling the Company to issue the Common

Warrant Shares pursuant to any exercise of the Common Warrants.

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4.10 Listing of Common

Stock. For as long as any Common Warrants are outstanding and exercisable, the Company hereby agrees to use commercially reasonable

best efforts to maintain the listing or quotation of the Common Stock on the Trading Market on which it is currently listed, and concurrently

with the Closing, the Company shall apply to list or quote all of the Shares, the Pre-Funded Warrant Shares and the Common Warrant Shares

on such Trading Market and promptly secure the listing of all of the Shares, the Pre-Funded Warrant Shares and the Common Warrant Shares

on such Trading Market. The Company further agrees, if the Company applies to have the Common Stock traded on any other Trading Market,

it will then include in such application all of the Shares, the Pre-Funded Warrant Shares and the Common Warrant Shares, and will take

such other action as is necessary to cause all of the Shares, the Pre-Funded Warrant Shares and the Common Warrant Shares to be listed

or quoted on such other Trading Market as promptly as possible. The Company will then take all action reasonably necessary to continue

the listing and trading of its Common Stock on a Trading Market and will comply in all material respects with the Company’s reporting,

filing and other obligations under the bylaws or rules of the Trading Market. For so long as the Company maintains a listing or quotation

of the Common Stock on a Trading Market, the Company agrees to maintain the eligibility of the Common Stock for electronic transfer through

the Depository Trust Company or another established clearing corporation, including, without limitation, by timely payment of fees to

the Depository Trust Company or such other established clearing corporation in connection with such electronic transfer.

4.11 Subsequent Equity Sales.

(a) From the date hereof

until thirty (30) days after the date hereof, neither the Company nor any Subsidiary shall (i) issue, enter into any agreement to issue

or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents or enter into, or effects a

transaction under, any agreement, including, but not limited to, an equity line of credit or an “at-the-market offering”,

whereby the Company may issue securities at a future determined price, or (ii) file any registration statement or amendment or supplement

thereto, other than the Prospectus, other than as necessary to maintain the effectiveness of existing registration statements which are

effective as of the Closing Date.

(b) From the date hereof

until the three (3) month anniversary of the Closing Date, the Company shall be prohibited from effecting or entering into an agreement

to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units

thereof) involving a Variable Rate Transaction. “Variable Rate Transaction” means a transaction in which the Company

(i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or include the right to

receive additional shares of Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based

upon, and/or varies with, the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of

such debt or equity securities or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date

after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly

related to the business of the Company or the market for the Common Stock. For the avoidance of doubt, Variable Rate Transaction shall

not include Common Stock sold in “at-the-market” offerings with a bona fide broker-dealer; and (e) Common Stock sold pursuant

to an equity line of credit offering. Any Purchaser shall be entitled to obtain injunctive relief against the Company to preclude any

such issuance, which remedy shall be in addition to any right to collect damages.

(c) Notwithstanding

the foregoing, this Section 4.11 shall not apply in respect of an Exempt Issuance, except that no Variable Rate Transaction shall be an

Exempt Issuance.

4.12 Equal Treatment of Purchasers.

No consideration (including any modification of any Transaction Document) shall be offered or paid to any Person to amend or consent to

a waiver or modification of any provision of the Transaction Documents unless the same consideration is also offered to all of the parties

to the Transaction Documents. For clarification purposes, this provision constitutes a separate right granted to each Purchaser by the

Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall not

in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition or voting of Securities

or otherwise.

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4.13 Certain Transactions and

Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants that neither it nor any Affiliate

acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including Short Sales of any of the

Company’s securities during the period commencing with the execution of this Agreement and ending at such time that the transactions

contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.4. Each Purchaser,

severally and not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement

are publicly disclosed by the Company pursuant to the initial press release as described in Section 4.4, such Purchaser will maintain

the confidentiality of the existence and terms of this transaction (other than as disclosed to its legal and other representatives). Notwithstanding

the foregoing and notwithstanding anything contained in this Agreement to the contrary, the Company expressly acknowledges and agrees

that (i) no Purchaser makes any representation, warranty or covenant hereby that it will not engage in effecting transactions in any securities

of the Company after the time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial

press release as described in Section 4.4, (ii) no Purchaser shall be restricted or prohibited from effecting any transactions in any

securities of the Company in accordance with applicable securities laws from and after the time that the transactions contemplated by

this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.4 and (iii) no Purchaser shall

have any duty of confidentiality or duty not to trade in the securities of the Company to the Company, any of its Subsidiaries, or any

of their respective officers, directors, employees, Affiliates or agent, including, without limitation, the Placement Agent, after the

issuance of the initial press release as described in Section 4.4. Notwithstanding the foregoing, in the case of a Purchaser that is a

multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s assets and the

portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such

Purchaser’s assets, the covenant set forth above shall only apply with respect to the portion of assets managed by the portfolio

manager that made the investment decision to purchase the Securities covered by this Agreement.

4.14 Exercise Procedures.

The form of Notice of Exercise included in the Pre-Funded Warrants and Common Warrants set forth the totality of the procedures required

of the Purchasers in order to exercise such Pre-Funded Warrants or Common Warrants, as applicable. No additional legal opinion, other

information or instructions shall be required of the Purchasers to exercise such Pre-Funded Warrants or Common Warrants. Without limiting

the preceding sentences, no ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee

or notarization) of any Notice of Exercise form be required in order to exercise such Pre-Funded Warrants or Common Warrants. The Company

shall honor exercises of such Pre-Funded Warrants or Common Warrants and shall deliver the Pre-Funded Warrant Shares or Common Warrant

Shares, as applicable, in accordance with the terms, conditions and time periods set forth in the Transaction Documents.

4.15 Lock-Up Agreements.

The Company shall not amend, modify, waive or terminate any provision of any of the Lock-Up Agreements except to extend the term of the

lock-up period and shall enforce the provisions of each Lock-Up Agreement in accordance with its terms. If any party to a Lock-Up Agreement

breaches any provision of a Lock-Up Agreement, the Company shall promptly use its best efforts to seek specific performance of the terms

of such Lock-Up Agreement.

ARTICLE V.

MISCELLANEOUS

5.1 Termination. This Agreement

may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any effect whatsoever on the obligations

between the Company and the other Purchasers, by written notice to the other parties, if the Closing has not been consummated on or before

the fifth (5th) Trading Day following the date hereof due to the Company's breach of or

failure to perform any representation, warranty, covenant, or agreement set forth in this Agreement; this Agreement may also be terminated

by the Company, as to its obligations to a specific Purchaser only, by written notice to such Purchaser, if the Closing has not been consummated

on or before the fifth (5th) Trading Day following the date hereof due to such Purchaser’s breach of or failure to perform any representation,

warranty, covenant, or agreement set forth in this Agreement; provided, however, that no such termination will affect the

right of any party to sue for any breach by any other party (or parties).

21

5.2 Fees and Expenses.

Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers,

counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation,

execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent fees (including, without limitation, any

fees required for same-day processing of any instruction letter delivered by the Company and any exercise notice delivered by a Purchaser),

stamp taxes and other taxes and duties levied in connection with the delivery of any Securities to the Purchasers.

5.3 Entire Agreement.

The Transaction Documents, together with the exhibits and schedules thereto, the Prospectus, contain the entire understanding of the parties

with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect

to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

5.4 Notices. Any and all

notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given

and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered via email attachment at the

email address as set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b)

the next Trading Day after the time of transmission, if such notice or communication is delivered via email attachment at the email address

as set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on

any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent

by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be

given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

5.5 Amendments; Waivers.

No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of

an amendment, by the Company and Purchasers which purchased at least 50.1% in interest of the Shares based on the initial Subscription

Amounts hereunder (or, prior to the Closing, the Company and each Purchaser) or, in the case of a waiver, by the party against whom enforcement

of any such waived provision is sought, provided that if any amendment, modification or waiver disproportionately and adversely impacts

a Purchaser (or group of Purchasers), the consent of such disproportionately impacted Purchaser (or group of Purchasers) shall also be

required. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing

waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall

any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right. Any proposed amendment

or waiver that disproportionately, materially and adversely affects the rights and obligations of any Purchaser relative to the comparable

rights and obligations of the other Purchasers shall require the prior written consent of such adversely affected Purchaser. Any amendment

effected in accordance with this Section 5.5 shall be binding upon each Purchaser and holder of Securities and the Company.

5.6 Headings. The headings

herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions

hereof.

5.7 Successors and Assigns.

This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Company may

not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger).

Any Purchaser may assign any or all of its rights under this Agreement to any Person to whom such Purchaser assigns or transfers any Securities,

provided that such transferee agrees in writing to be bound, with respect to the transferred Securities, by the provisions of the Transaction

Documents that apply to the “Purchasers.”

5.8 No Third-Party Beneficiaries.

The Placement Agent shall be a third party beneficiary of the representations and warranties of the Company in Section 3.1 and the representations

and warranties of the Purchasers in Section 3.2. This Agreement is intended for the benefit of the parties hereto and their respective

successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except

as otherwise set forth in Section 4.8 and this Section 5.8.

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5.9 Governing Law. All

questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed by and

construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of

law thereof. Each party agrees that all legal Proceedings concerning the interpretations, enforcement and defense of the transactions

contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates,

directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts

sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting

in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction

contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably

waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction of any such

court, that such Action or Proceeding is improper or is an inconvenient venue for such Proceeding. Each party hereby irrevocably waives

personal service of process and consents to process being served in any such Action or Proceeding by mailing a copy thereof via registered

or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this

Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein

shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If any party shall commence an Action

or Proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the Company under Section

4.8, the prevailing party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its reasonable attorneys’

fees and other costs and expenses incurred with the investigation, preparation and prosecution of such Action or Proceeding.

5.10 Survival. The representations

and warranties contained herein shall survive the Closing and the delivery of the Securities.

5.11 Execution. 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 each other party, it being understood that the parties

need not sign the same counterpart. In the event that any signature is delivered 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 “.pdf” signature page were an original thereof.

5.12 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 commercially reasonable 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.

5.13 Rescission and Withdrawal

Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) any of the other Transaction

Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not

timely perform its related obligations within the periods therein provided, then such Purchaser may rescind or withdraw, in its sole discretion

from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to

its future actions and rights; provided, however, that in the case of a rescission of an exercise of a Pre-Funded Warrant

or Common Warrant, the applicable Purchaser shall be required to return any shares of Common Stock subject to any such rescinded exercise

notice concurrently with the return to such Purchaser of the aggregate exercise price paid to the Company for such shares and the restoration

of such Purchaser’s right to acquire such shares pursuant to such Purchaser’s Pre-Funded Warrant or Common Warrant (including,

issuance of a replacement warrant certificate evidencing such restored right).

5.14 Replacement of Securities.

If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, the Company shall issue or cause to

be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor,

a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction.

The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including

customary indemnity) associated with the issuance of such replacement Securities.

23

5.15 Remedies. In addition

to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the Purchasers and

the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not

be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents and hereby

agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy at law would

be adequate.

5.16 Payment Set Aside.

To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or a Purchaser enforces

or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are

subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded,

repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any law (including, without limitation, any

bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation

or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not

been made or such enforcement or setoff had not occurred.

5.17 Independent Nature

of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several and not

joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or non-performance

of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any other Transaction Document,

and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a partnership, an association,

a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group

with respect to such obligations or the transactions contemplated by the Transaction Documents. Each Purchaser shall be entitled to independently

protect and enforce its rights including, without limitation, the rights arising out of this Agreement or out of the other Transaction

Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any Proceeding for such purpose.

Each Purchaser has been represented by its own separate legal counsel in its review and negotiation of the Transaction Documents. For

reasons of administrative convenience only, each Purchaser and its respective counsel have chosen to communicate with the Company through

Pryor Cashman LLP. Pryor Cashman LLP does not represent any of the Purchasers and only represents the Placement Agent. The Company has

elected to provide all Purchasers with the same terms and Transaction Documents for the convenience of the Company and not because it

was required or requested to do so by any of the Purchasers. It is expressly understood and agreed that each provision contained in this

Agreement and in each other Transaction Document is between the Company and a Purchaser, solely, and not between the Company and the Purchasers

collectively and not between and among the Purchasers.

5.18 Saturdays, Sundays, Holidays,

etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not

be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

5.19 Construction. The

parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction Documents

and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall

not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and every reference to

share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits,

stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement.

5.20 WAIVER OF JURY TRIAL.

IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY,

TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL

BY JURY.

(Signature Pages Follow)

24

IN WITNESS WHEREOF, the

parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the

date first indicated above.

TIANCI INTERNATIONAL, INC.

By:

Name:

Title:

Address for Notice:

Unit 1109, Lippo Sun Plaza

28 Canton Road, Tsim Sha Tsui

Kowloon, Hong Kong

E-Mail:

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

Ortoli Rosenstadt LLP

366 Madison Avenue, 3rd Floor

New York, NY 10017

E-mail:

Attention:

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

25

[PURCHASER SIGNATURE PAGES TO CIIT SECURITIES

PURCHASE AGREEMENT]

IN WITNESS WHEREOF, the undersigned

have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated

above.

Name of Purchaser: ________________________________________________________

Signature of Authorized Signatory of Purchaser:

_________________________________

Name of Authorized Signatory: _______________________________________________

Title of Authorized Signatory: ________________________________________________

Email Address of Authorized Signatory:_________________________________________

Principal Place of Business:

Address for Notice to Purchaser:

Address for Delivery of Securities to Purchaser (if not same as address

for notice):

Unit Subscription Amount: $_________________

Units: _________________

Pre-Funded Unit Subscription Amount: $_________________

Pre-Funded Units: _________________

Common Warrant Shares: ______________ Beneficial

Ownership Blocker ☐ 4.99% or ☐

9.99%

Pre-Funded Warrant Shares: ______________

Beneficial Ownership Blocker ☐ 4.99% or ☐

9.99%

EIN Number: _______________________

26

EXHIBIT A

Form of Common Warrant

27

EXHIBIT B

Form of Lock-up Agreement

28

EXHIBIT C

Form of Pre-Funded Warrant

29

EX-10.2 — FORM OF LOCK-UP AGREEMENT

EX-10.2

Filename: tianci_ex1002.htm · Sequence: 7

Exhibit 10.2

LOCK-UP AGREEMENT

________, 2026

Maxim Group LLP

300 Park Avenue

New York, NY 10022

Re: Proposed Best Efforts Offering by Tianci International, Inc.

Ladies and Gentlemen:

The undersigned,

a stockholder, officer and/or director of Tianci International, Inc., a Nevada corporation (the “Company”), understands

that Maxim Group LLC (the “Placement Agent”) proposes to have certain institutional investors enter into a Securities

Purchase Agreement (the “Purchase Agreement”) with the Company providing for the subsequent public offering (the “Public

Offering”) of certain securities of the Company.

In recognition of

the benefit that such an offering will confer upon the undersigned as a stockholder, an officer and/or a director of the Company and as

consideration of the Placement Agent’s agreement to proceed with the Public Offering, and for other good and valuable consideration,

the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees with the Placement Agent that, during the period

beginning on the date hereof and ending on the date that is ninety (90) days from the completion of the Public Offering (the “Lock-Up

Period”), the undersigned will not, without the prior written consent of each of the Placement Agent, directly or indirectly,

(i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any

option, right or warrant for the sale of, or otherwise dispose of or transfer any shares of common stock of the Company, par Value $0.0001

per share (the “Common Stock”) or any securities convertible into or exchangeable or exercisable for Common Stock,

whether now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or hereafter acquires the power

of disposition (collectively, the “Lock-Up Securities”), or exercise any right with respect to the registration of

any of the Lock-Up Securities, or file or cause to be filed any registration statement in connection therewith, under the Securities Act

of 1933, as amended, or (ii) enter into any swap or any other agreement or any transaction that transfers, in whole or in part, directly

or indirectly, the economic consequence of ownership of the Lock-Up Securities, whether any such swap or transaction is to be settled

by delivery of Common Stock or other securities, in cash or otherwise.

Notwithstanding anything

herein to the contrary, if (1) the closing of the Public Offering has not occurred prior to ________, 2026, (2) the Company notifies

the Placement Agent in writing prior to the execution of the Purchase Agreement that it does not intend to proceed with the Public Offering,

or (3) the Purchase Agreement (other than any provision thereof which is expressed to survive termination) shall terminate, this agreement

shall be of no further force or effect and the undersigned shall be released from all restrictions hereunder.

Notwithstanding the foregoing,

and subject to the conditions below, the undersigned may transfer the Lock-Up Securities, provided that the Company receives a signed

lock-up letter agreement (in the form of this letter agreement) for the balance of the Lock-Up Period from each donee, trustee, distributee,

or transferee, as the case may be, prior to such transfer,:

i)

as a bona fide gift or gifts;

ii)

to any immediate family member or to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned (for purposes of this letter agreement, “immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than first cousin);

iii)

to any corporation, partnership, limited liability company, or other business entity all of the equity holders of which consist of the undersigned and/or the immediate family of the undersigned;

1

iv)

if the undersigned is a corporation, partnership, limited liability company, trust or other business entity (a) to another corporation, partnership, limited liability company, trust or other business entity that is an Affiliate of the undersigned or (b) in the form of a distribution to limited partners, limited liability company members or shareholders of the undersigned;

v)

if the undersigned is a trust, to the beneficiary of such trust;

vi)

by will, other testamentary document or intestate succession to the legal representative, heir, beneficiary or a member of the immediate family of the undersigned;

vii)

by operation of law, such as pursuant to a qualified domestic order or in connection with a divorce settlement; or

viii)

to cover the payment of the

exercise prices or the payment of taxes associated with the exercise or vesting of equity awards that were issued under any equity compensation

plan of the Company;

In addition, notwithstanding

the foregoing, this letter agreement shall not restrict the delivery of Common Stock to the undersigned upon (i) exercise any options

granted under any employee benefit plan of the Company; provided that any securities of the Company acquired in connection with any such

exercise will be subject to the restrictions set forth in this letter agreement, or (ii) the exercise, conversion, or exchange of outstanding

securities of the Company; provided that such common shares delivered to the undersigned in connection with such exercise, conversion

or exchange are subject to the restrictions set forth in this letter agreement.

The undersigned

acknowledges that the execution, delivery and performance of this letter agreement is a material inducement to the investors entering

into the Purchase Agreement and the Placement Agent to perform in the Public Offering and that the Placement Agent (which shall be a third

party beneficiary of this letter agreement) shall be entitled to specific performance of the undersigned’s obligations hereunder.

The undersigned hereby represents that the undersigned has the power and authority to execute, deliver and perform this letter agreement,

that the undersigned has received adequate consideration therefor and that the undersigned will indirectly benefit from the closing of

the transactions contemplated by the Purchase Agreement.

This letter agreement may

not be amended or otherwise modified in any respect without the written consent of each of the Placement Agent and the undersigned. This

letter agreement shall be construed and enforced in accordance with the laws of the State of New York without regard to the principles

of conflict of laws. The undersigned hereby irrevocably submits to the exclusive jurisdiction of the United States District Court sitting

in the Southern District of New York and the courts of the State of New York located in Manhattan, for the purposes of any suit, action

or proceeding arising out of or relating to this letter agreement, and hereby waives, and agrees not to assert in any such suit, action

or proceeding, any claim that (i) it is not personally subject to the jurisdiction of such court, (ii) the suit, action or proceeding

is brought in an inconvenient forum, or (iii) the venue of the suit, action or proceeding is improper. The undersigned hereby irrevocably

waives personal service of process and, to the extent permitted by law, consents to process being served in any such suit, action or proceeding

by receiving a copy thereof sent to the Company at the address in effect for notices to it under the Purchase Agreement and agrees that

such service shall constitute good and sufficient service of process and notice thereof. The undersigned hereby waives any right to a

trial by jury. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.

The undersigned agrees and understands that this letter agreement does not intend to create any relationship between the undersigned and

the Placement Agent and that no issuance or sale of the Company’s securities is created or intended by virtue of this letter agreement.

This letter agreement shall

be binding on successors and assigns of the undersigned with respect to the Lock-Up Securities and any such successor or assign shall

enter into a similar agreement for the benefit of the Placement Agent. This letter agreement is intended for the benefit of the parties

hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provisions hereof be enforced

by, any other person.

*** SIGNATURE PAGE FOLLOWS***

2

Very truly yours,

(Name – Please Print)

(Signature)

(Name of Signatory, in the case of entities– Please Print)

(Name of Signatory, in the case of entities– Please Print)

Address:

3

EX-99.1 — PRESS RELEASE DATED 6-16-26

EX-99.1

Filename: tianci_ex9901.htm · Sequence: 8

Exhibit 99.1

Tianci International, Inc.

Announces Pricing of US$4.9 Million Public Offering

HONG KONG, HK

/ ACCESS Newswire / June 16, 2026 / Tianci International, Inc.

(Nasdaq:CIIT) (“Company” or “Tianci”), a global logistics service provider specializing in ocean freight forwarding,

today announced the pricing of its registered offering of 6,055,000 units (each, a “Unit”), on a best efforts basis, at an

offering price of US$0.81 per Unit (the “Offering”).

Each Unit consists of one share

of common stock of the Company (or pre-funded warrant in lieu thereof), with a par value of US$0.0001 per share, and one common warrant

to purchase one share of common stock of the Company (the “Common Warrant”). The aggregate gross proceeds from the Offering

are expected to be approximately US$4.9 million, prior to deducting placement agent fees, legal fees, administrative and other offering-related

expenses.

Each Common Warrant will be

immediately exercisable upon issuance at an initial exercise price of US$0.81, which is equal to the public offering price per Unit. The

warrant exercise price is subject to customary anti-dilution adjustments in connection with share splits, share combinations, dividend

distributions, subsequent equity sale and other corporate restructurings. The warrants will expire on the third anniversary of the issuance

date.

The closing of the Offering

is currently expected to take place on June 17, 2026, subject to the satisfaction of customary closing conditions set forth in the Securities

Purchase Agreements and related transaction documents. The Company anticipate using the net proceeds of this offering primarily for the

working capital and other general corporate purposes.

Maxim Group LLC is acting as

the sole placement agent for the Offering. Ortoli Rosenstadt LLP is acting as U.S. securities counsel to the Company, and Pryor Cashman

LLP is acting as U.S. securities counsel to the placement agent, in connection with the Offering.

The securities described above

are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-296417) (the “Registration Statement”),

which was declared effective by the Securities and Exchange Commission (the “SEC”) on June 15, 2026. The offering is being made

only by means of a prospectus which is a part of the Registration Statement. A preliminary prospectus relating to the offering has been

filed with the SEC. Copies of the final prospectus relating to this offering, when available, will be filed with the SEC and may be obtained

from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022 at (212) 895-3745 or by email at syndicate@maximgrp.com. Copies

of the Registration Statement can be accessed through the SEC website at www.sec.gov.

This press release is

for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. No offering,

sale or solicitation shall be permitted in any jurisdiction where such offering or sale would be unlawful prior to registration, exemption

or qualification under the local securities laws of such jurisdiction.

About Tianci International, Inc.

Tianci International Inc., through its subsidiary

Roshing, provides global logistics services, specializing in ocean freight forwarding, including container and bulk goods shipping. Operating

under an asset-light model, Roshing’s logistics solutions are tailored to meet the diverse needs of its customers across the Asia-Pacific

Region, including Japan, South Korea, and Vietnam. The Company’s mission is to provide customers with efficient, reliable, and safe

shipping services that create value. Beyond logistics, Roshing has expanded into global trade of minerals by sourcing high-grade minerals

directly from resource-rich regions for resale. In addition, the Company generates revenue from the sale of electronic parts and business

consulting services. For more information, please visit the Company’s website: tianci-ciit.com

Forward-Looking Statements

This press release contains forward-looking statements

within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E

of the Securities Exchange Act of 1934 about the Company’s current expectations about future results, performance, prospects and

opportunities. Statements that are not historical facts, such as “anticipates,” “believes” and “expects”

or similar expressions, are forward-looking statements.

This press release contains forward-looking statements,

among other items, regarding the Company’s ability to satisfy closing conditions related to the offering. All of our forward-looking

statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could

significantly affect the Company’s current plans and expectations, as well as future results of operations and financial condition.

These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are

encouraged to review the section titled “Risk Factors” in the Registration Statement, as well as other disclosures contained

in such Registration Statement and the Company’s other filings made with the Securities and Exchange Commission. Forward-looking

statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise

any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Tianci International, Inc.

Investor Relations

Email: ir@rqscapital.com

EX-99.2 — PRESS RELEASE DATED 6-17-26

EX-99.2

Filename: tianci_ex9902.htm · Sequence: 9

Exhibit 99.2

Tianci International, Inc.

Announces Closing of US$4.9 Million Public Offering

HONG

KONG, HK / ACCESS Newswire / June 17, 2026 / Tianci International,

Inc. (Nasdaq:CIIT) (“Company” or “Tianci”), a global logistics service provider specializing in ocean freight

forwarding, today announced the closing of its previously announced registered offering of 6,055,000 units (each, a “Unit”),

on a best efforts basis, at an offering price of US$0.81 per Unit (the “Offering”).

Each Unit consists of one share of common stock of the

Company (or pre-funded warrant in lieu thereof), with a par value of US$0.0001 per share, and one common warrant to purchase one share

of common stock of the Company (the “Common Warrant”). Each Common Warrant is immediately exercisable upon issuance at an

initial exercise price of US$0.81, which is equal to the public offering price per Unit. The warrant exercise price is subject to customary

anti-dilution adjustments in connection with share splits, share combinations, dividend distributions, subsequent equity sale and other

corporate restructurings. The warrants will expire on the third anniversary of the issuance date.

The company received total gross proceeds of approximately

US$4.9 million, prior to deducting placement agent fees, legal fees, administrative and other offering-related expenses. The Company intends

to use the net proceeds from the Offering for working capital requirements, general corporate purposes, as well as further product iteration

& development and production capacity expansion.

Maxim Group LLC acted as the sole placement agent

for the Offering. Ortoli Rosenstadt LLP acted as U.S. securities counsel to the Company, and Pryor Cashman LLP acted as U.S. securities

counsel to the placement agent, in connection with the Offering.

The Company’s Registration Statement on Form S-1 (File No. 333-296417)

was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective on June 15, 2026. The Offering was made exclusively

by means of a prospectus contained within the effective S-1 registration statement, copies of which may be obtained by contacting Maxim

Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745 or by email at syndicate@maximgrp.com. Copies of the

registration statement can be accessed through the SEC website at www.sec.gov.

This press release is for

informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. No offering,

sale or solicitation shall be permitted in any jurisdiction where such offering or sale would be unlawful prior to registration, exemption

or qualification under the local securities laws of such jurisdiction.

About Tianci International, Inc.

Tianci International Inc., through its subsidiary

Roshing, provides global logistics services, specializing in ocean freight forwarding, including container and bulk goods shipping. Operating

under an asset-light model, Roshing’s logistics solutions are tailored to meet the diverse needs of its customers across the Asia-Pacific

Region, including Japan, South Korea, and Vietnam. The Company’s mission is to provide customers with efficient, reliable, and safe

shipping services that create value. Beyond logistics, Roshing has expanded into global trade of minerals by sourcing high-grade minerals

directly from resource-rich regions for resale. In addition, the Company generates revenue from the sale of electronic parts and business

consulting services. For more information, please visit the Company’s website: tianci-ciit.com

Forward-Looking Statements

This press release contains forward-looking statements

within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E

of the Securities Exchange Act of 1934 about the Company’s current expectations about future results, performance, prospects and

opportunities. Statements that are not historical facts, such as “anticipates,” “believes” and “expects”

or similar expressions, are forward-looking statements.

This press release contains forward-looking statements,

among other items, regarding the Company’s ability to satisfy closing conditions related to the offering. All of our forward-looking

statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could

significantly affect the Company’s current plans and expectations, as well as future results of operations and financial condition.

These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are

encouraged to review the section titled “Risk Factors” in the Registration Statement, as well as other disclosures contained

in such Registration Statement and the Company’s other filings made with the Securities and Exchange Commission. Forward-looking

statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise

any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Tianci International, Inc.

Investor Relations

Email: ir@rqscapital.com

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