<SEC-DOCUMENT>0001554795-18-000002.txt : 20180104
<SEC-HEADER>0001554795-18-000002.hdr.sgml : 20180104
<ACCEPTANCE-DATETIME>20180103215749
ACCESSION NUMBER:		0001554795-18-000002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20180103
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180104
DATE AS OF CHANGE:		20180103

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TimefireVR Inc.
		CENTRAL INDEX KEY:			0000748268
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				860490034
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31587
		FILM NUMBER:		18508348

	BUSINESS ADDRESS:	
		STREET 1:		7600 E. REDFIELD RD.
		STREET 2:		#100, BUILDING A
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85260
		BUSINESS PHONE:		888-875-9928

	MAIL ADDRESS:	
		STREET 1:		7600 E. REDFIELD RD.
		STREET 2:		#100, BUILDING A
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85260

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EnergyTEK Corp.
		DATE OF NAME CHANGE:	20140723

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROADLEAF CAPITAL PARTNERS INC
		DATE OF NAME CHANGE:	20040928

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROADLEAF CAPITAL PARTNERS  INC
		DATE OF NAME CHANGE:	20020503
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tfvr0103form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 3.5pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of The Securities
Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Date of Report (Date of earliest event reported):
January 3, 2018</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>TimefireVR Inc.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-size: 10pt">Nevada</FONT></TD>
    <TD STYLE="width: 3%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-size: 10pt">814-00175</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 31%; border-bottom: Black 1pt solid; padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-size: 10pt">86-0490034</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or other Jurisdiction of Incorporation)</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 5.75pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt; padding-left: 12.25pt; text-align: center"><FONT STYLE="font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">
        <P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">7690 E. Camelback Rd.</P>
        <P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Suite 511</P>
        <P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Scottsdale AZ</P></TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">
        <P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">85251</P>
        <P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: (602) 617-8888</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Former Name or Former Address, if Changed Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9744;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
growth company &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"><B>Item 1.01 Creation of a Direct
Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0pt; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Effective January 3, 2018, TimefireVR&nbsp;Inc.,
a Nevada corporation (the &ldquo;Company&rdquo;) entered into an Exchange Agreement (the &ldquo;Exchange&rdquo;) with investors
in the Company&rsquo;s previous private placements (the &ldquo;Investors&rdquo;) pursuant to which the Company issued 303,714 shares
of the Company&rsquo;s new Convertible Series E Preferred Stock (the &ldquo;Series E&rdquo;) in exchange for the cancellation of
the following securities:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0pt; text-align: justify"></P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="margin: 3pt 0 0pt; font-size: 10pt; text-align: justify">133,333.69 shares of Series A Convertible Preferred Stock (extinguishing such series);</LI>

<LI STYLE="margin: 3pt 0 0pt; font-size: 10pt; text-align: justify">14,923.30 shares of Series A-1 Convertible Preferred Stock (extinguishing such series);</LI>

<LI STYLE="margin: 3pt 0 0pt; font-size: 10pt; text-align: justify">501.54 shares of Series C Convertible Preferred Stock (extinguishing such series);</LI>

<LI STYLE="margin: 3pt 0 0pt; font-size: 10pt; text-align: justify">$649,999.99 of Senior Convertible Notes issued March 3, 2017;</LI>

<LI STYLE="margin: 3pt 0 0pt; font-size: 10pt; text-align: justify">$63,157.90 of Senior Convertible Notes issued August 21, 2017; and</LI>

<LI STYLE="margin: 3pt 0 0pt; font-size: 10pt; text-align: justify">Warrants to purchase 4,936,401.90 shares of our common stock</LI>

</UL>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify">Each share of Series E has a stated
value of $1,000 and is convertible into shares of our common stock at a conversion price of $1.00 per share (as adjusted for stock
splits, stock dividends, stock combinations, recapitalizations and similar events. The Series E does not have any price protection
from future issuances of securities by the Company at price below the conversion price then in effect. After giving effect to
the Exchange and the sale described in item 2.01, the Company has reduced its outstanding indebtedness from $1,946,470 to $773,947.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The foregoing description is a summary
only and is qualified in its entirety by the full text of the form of Exchange Agreement and the Certificate of Designations for
the Series E, as amended, which have been filed as Exhibits 10.1, 3.1, and 3.2 respectively, to this Form 8-K and are incorporated
in this Form 8-K by reference.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"><B>Item 2.01 Completion of Acquisition
or Disposition of Assets.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 3, 2018, the Company entered into a Membership Interest
Purchase Agreement (the &ldquo;Agreement&rdquo;) by and between the Company and Mitchell Saltz (&ldquo;Saltz&rdquo;). Pursuant
to the terms of the Agreement, Saltz acquired all the membership interests of the Company&rsquo;s subsidiary, Timefire LLC, an
Arizona limited liability company (&ldquo;TLLC&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In consideration for entering in the Agreement, the Company received:
(i) $100,000 in cash and (ii) <FONT STYLE="font-family: Times New Roman, Times, Serif; vertical-align: baseline">a secured promissory
note (the &ldquo;Note&rdquo;) in the principal amount of $120,000 </FONT>bearing 6% annual interest that matures in nine-months.
Additionally, Saltz or TLLC assumed certain of the Company&rsquo;s liabilities including a sublease agreement entered into by the
Company, loans made by Saltz to the Company, a certain $100,000 senior convertible note of the Company dated March 3, 2017, a certain
services agreement entered into by the Company, certain past compensation owed to the Company&rsquo;s former executive officers,
and certain credit card debts owed by the Company. The assumed liabilities totaled approximately $558,054.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing description is qualified in its entirety by reference
to the full text of the form of Agreement and the form of Note, which have been filed as Exhibits 10.2 and 4.1, respectively, to
this Form 8-K and are incorporated in this Form 8-K by reference.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"><B>Item 3.02 Unregistered Sales of
Equity Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 12pt; text-align: justify">The disclosure included under Items
2.01 and 2.03, above, are incorporated by reference herein. The shares of Series E and the Note have not been registered under
the Securities Act of 1933 (the &ldquo;Act&rdquo;) and were issued and sold in reliance upon the exemption from registration contained
in Section 4(a)(2) of the Act and Rule 506(b) promulgated thereunder. The Company believes the Investors are accredited investors.
Each of the Investors acquired the Series E for investment purposes only and not with a view to distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify"><B>Item 9.01 Financial Statements
and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0pt; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0pt; text-align: justify"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; text-align: left; width: 15%">Exhibit No.</TD>
    <TD STYLE="text-decoration: underline; text-align: left; width: 85%">Description</TD></TR>
<TR STYLE="vertical-align: middle; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">3.1</TD>
    <TD STYLE="text-align: left">Series E Certificate of Designations</TD></TR>
<TR STYLE="vertical-align: middle; background-color: White">
    <TD STYLE="text-align: left">3.2</TD>
    <TD STYLE="text-align: left">Amendment to Series E Certificate of Designations</TD></TR>
<TR STYLE="vertical-align: middle; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">4.1</TD>
    <TD STYLE="text-align: left">Form of <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; vertical-align: baseline"><B>Secured Promissory Note</B></FONT></TD></TR>
<TR STYLE="vertical-align: middle; background-color: White">
    <TD STYLE="text-align: left">10.1</TD>
    <TD STYLE="text-align: left">Form of Exchange Agreement *</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: middle; text-align: left">10.2</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Form of Membership Interest Purchase Agreement *</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0pt; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">* Certain schedules, appendices and exhibits
to this agreement have been omitted in accordance with Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule and/or
exhibit will be furnished supplementally to the Securities and Exchange Commission staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 thereun<FONT STYLE="font-size: 10pt">to
duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left; width: 50%"><FONT STYLE="font-size: 10pt">TimefireVR
    Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Date: January 3, 2017</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">By: <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; font-style: normal"><U>/s/
    Jonathan Read&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></FONT></TD></TR>
<TR>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: middle; text-align: left"><FONT STYLE="font-size: 10pt">Name:
    Jonathan Read</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Title: Chief Executive
    Officer</FONT></TD></TR>
</TABLE>

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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>tfvr0103form8kexh3_1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 3.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><B>CERTIFICATE OF DESIGNATIONS OF </B><BR>
<B>SERIES E CONVERTIBLE PREFERRED STOCK OF</B><BR>
<B>TIMEFIREVR INC.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">I, Jonathan Read,
hereby certify that I am the Chief Executive Officer and Secretary of TimeFireVR Inc. (the &ldquo;<B>Company</B>&rdquo;), a corporation
organized and existing under the Chapter 78 of the Nevada Revised Statues (the &ldquo;<B>NRS</B>&rdquo;), and further do hereby
certify:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">That pursuant to
the authority expressly conferred upon the Board of Directors of the Company (the &ldquo;<B>Board</B>&rdquo;) by the Company&rsquo;s
articles of incorporation, as amended (the &ldquo;<B>Articles of Incorporation</B>&rdquo;), and Section 151(g) of the NRS, the
Board on January 2, 2018 adopted the following resolution determining it desirable and in the best interests of the Company and
its shareholders for the Company to create a series of two hundred, ninety nine thousand, nine hundred and fifty-two (299,952)
shares of preferred stock designated as &ldquo;<B>Series E Convertible Preferred Stock</B>&rdquo;, none of which shares have been
issued.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">RESOLVED, that pursuant
to the authority vested in the Board this Company, in accordance with the provisions of the Articles of Incorporation, a series
of preferred stock, par value $0.01 per share, of the Company be and hereby is created, and that the designation and number of
shares thereof and the voting and other powers, preferences and relative, participating, optional or other rights of the shares
of such series and the qualifications, limitations and restrictions thereof are as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>TERMS OF SERIES E CONVERTIBLE PREFERRED STOCK</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 67.5pt">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Designation and Number of Shares</U>. There shall hereby be created and established a series of preferred stock of the
Company designated as &ldquo;Series E Convertible Preferred Stock&rdquo; (the &ldquo;<B>Preferred Shares</B>&rdquo;). The authorized
number of Preferred Shares shall be two hundred, ninety nine thousand, nine hundred and fifty-two (299,952) shares. Each Preferred
Share shall have a par value of $0.01. Capitalized terms not defined herein shall have the meaning as set forth in Section 31 below.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 67.5pt">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Ranking</U>. Except to the extent that the holders of at least a majority of the outstanding Preferred Shares (the &ldquo;<B>Required
Holders</B>&rdquo;) expressly consent to the creation of Parity Stock (as defined below) or Senior Preferred Stock (as defined
below) in accordance with Section 16, all shares of capital stock of the Company shall be junior in rank to all Preferred Shares
with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding up of
the Company (such junior stock is referred to herein collectively as &ldquo;<B>Junior Stock</B>&rdquo;). The rights of all such
shares of capital stock of the Company shall be subject to the rights, powers, preferences and privileges of the Preferred Shares.
Without limiting any other provision of this Certificate of Designations, without the prior express consent of the Required Holders,
voting separate as a single class, the Company shall not hereafter authorize or issue any additional or other shares of capital
stock that is (i) of senior rank to the Preferred Shares in respect of the preferences as to dividends, distributions and payments
upon the liquidation, dissolution and winding up of the Company (collectively, the &ldquo;<B>Senior Preferred Stock</B>&rdquo;),
(ii) of pari passu rank to the Preferred Shares in respect of the preferences as to dividends, distributions and payments upon
the liquidation, dissolution and winding up of the Company (collectively, the &ldquo;<B>Parity Stock</B>&rdquo;) or (iii) any Junior
Stock having a maturity date or any other date requiring redemption or repayment of such shares of Junior Stock that is prior to
the tenth anniversary of the Initial Issuance Date (as defined below). In the event of the merger or consolidation of the Company
with or into another corporation, the Preferred Shares shall maintain their relative rights, powers, designations, privileges and
preferences provided for herein and no such merger or consolidation shall result inconsistent therewith.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 67.5pt">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Dividends</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 49.5pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>From and after the first date of issuance of any Preferred Shares (the &ldquo;<B>Initial Issuance Date</B>&rdquo;), unless
a Triggering Event has occurred and is continuing, no holder of a Preferred Share (each, a &ldquo;<B>Holder</B>&rdquo; and collectively,
the &ldquo;<B>Holders</B>&rdquo;) shall be entitled to receive any dividends (&ldquo;<B>Dividends</B>&rdquo;) except in accordance
with Section 7 or Section 15 below or, otherwise, to the extent, if any, as may be declared by the Board on the Preferred Shares,
from time to time, in its sole and absolute discretion, which Dividends, if any, shall be paid by the Company out of funds legally
available therefor, payable, subject to the conditions and other terms hereof, in cash on the Stated Value of such Preferred Share.
From and after the occurrence and during the continuance of any Triggering Event, Dividends shall accrue on each Preferred Share
at a rate of (18.0%) per annum (the &ldquo;<B>Default Rate</B>&rdquo;)and shall be computed on the basis of a 360-day year and
twelve 30-day months and shall be payable in arrears on the first Trading Day of each such calendar quarter in which Dividends
accrue hereunder (each, an &ldquo;<B>Dividend Date</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 49.5pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Prior to the payment of Dividends on an Dividend Date, Dividends on the Preferred Shares shall accrue at the Dividend Rate
and be payable by way of inclusion of the Dividends in the Conversion Amount on each Conversion Date in accordance with Section
4(c)(i) or upon any redemption in accordance with Section 11 or upon any required payment upon any Bankruptcy Triggering Event.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 67.5pt">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Conversion</U>. At any time after the Initial Issuance Date, each Preferred Share shall be convertible into validly issued,
fully paid and non-assessable shares of Common Stock (as defined below), on the terms and conditions set forth in this Section
4.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Holder&rsquo;s Conversion Right</U>. Subject to the provisions of Section 4(d), at any time or times on or after the
Initial Issuance Date, each Holder shall be entitled to convert any portion of the outstanding Preferred Shares held by such Holder
into validly issued, fully paid and non-assessable shares of Common Stock in accordance with Section 4(c) at the Conversion Rate
(as defined below). The Company shall not issue any fraction of a share of Common Stock upon any conversion. If the issuance would
result in the issuance of a fraction of a share of Common Stock, the Company shall round such fraction of a share of Common Stock
up to the nearest whole share. The Company shall pay any and all transfer, stamp, issuance and similar taxes, costs and expenses
(including, without limitation, fees and expenses of the Transfer Agent (as defined below)) that may be payable with respect to
the issuance and delivery of Common Stock upon conversion of any Preferred Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Conversion Rate</U>. The number of shares of Common Stock issuable upon conversion of any Preferred Share pursuant to
Section 4(a) shall be determined by dividing (x) the Conversion Amount of such Preferred Share by (y) the Conversion Price (the
&ldquo;<B>Conversion Rate</B>&rdquo;):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(i)   &ldquo;<B>Conversion
Amount</B>&rdquo; means, with respect to each Preferred Share, as of the applicable date of determination, the sum of (1) the Stated
Value thereof plus (2) the Additional Amount thereon and any accrued and unpaid Late Charges (as defined below in Section 24(c))
with respect to such Stated Value and Additional Amount as of such date of determination.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ii)   &ldquo;<B>Conversion
Price</B>&rdquo; means, with respect to each Preferred Share, as of any Conversion Date or other date of determination, $1.00,
subject to adjustment as provided herein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Mechanics of Conversion</U>. The conversion of each Preferred Share shall be conducted in the following manner:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(i)   <U>Optional
Conversion</U>. To convert a Preferred Share into shares of Common Stock on any date (a &ldquo;<B>Conversion Date</B>&rdquo;),
a Holder shall deliver (whether via facsimile, electronic mail or otherwise), for receipt on or prior to 11:59 p.m., New York time,
on such date, a copy of an executed notice of conversion of the share(s) of Preferred Shares subject to such conversion in the
form attached hereto as <B><U>Exhibit I</U></B> (the &ldquo;<B>Conversion Notice</B>&rdquo;) to the Company. If required by Section
4(c)(iii), within two (2) Trading Days following a conversion of any such Preferred Shares as aforesaid, such Holder shall surrender
to a nationally recognized overnight delivery service for delivery to the Company the original certificates, if any, representing
the Preferred Shares (the &ldquo;<B>Preferred Share Certificates</B>&rdquo;) so converted as aforesaid (or an indemnification undertaking
with respect to the Preferred Shares in the case of its loss, theft or destruction as contemplated by Section 18(b)). On or before
the first (1<SUP>st</SUP>) Trading Day following the date of receipt of a Conversion Notice, the Company shall transmit by facsimile
or electronic mail an acknowledgment of confirmation, in the form attached hereto as <B><U>Exhibit II</U></B>, of receipt of such
Conversion Notice to such Holder and the Company&rsquo;s transfer agent (the &ldquo;<B>Transfer Agent</B>&rdquo;), which confirmation
shall constitute an instruction to the Transfer Agent to process such Conversion Notice in accordance with the terms herein. On
or before the second (2nd) Trading Day following the date of receipt of a Conversion Notice (or such earlier date as required pursuant
to the 1934 Act or other applicable law, rule or regulation for the settlement of a trade initiated on the applicable Conversion
Date of such shares of Common Stock issuable pursuant to such Conversion Notice) (the &ldquo;<B>Share Delivery Deadline</B>&rdquo;),
the Company shall (1) provided that the Transfer Agent is participating in The Depository Trust Company&rsquo;s (&ldquo;<B>DTC</B>&rdquo;)
Fast Automated Securities Transfer Program, credit such aggregate number of shares of Common Stock to which such Holder shall be
entitled to such Holder&rsquo;s or its designee&rsquo;s balance account with DTC through its Deposit/Withdrawal at Custodian system,
or (2) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and deliver (via
reputable overnight courier) to the address as specified in such Conversion Notice, a certificate, registered in the name of such
Holder or its designee, for the number of shares of Common Stock to which such Holder shall be entitled. If the number of Preferred
Shares represented by the Preferred Share Certificate(s) submitted for conversion pursuant to Section 4(c)(iii) is greater than
the number of Preferred Shares being converted, then the Company shall, as soon as practicable and in no event later than two (2)
Trading Days after receipt of the Preferred Share Certificate(s) and at its own expense, issue and deliver to such Holder (or its
designee) a new Preferred Share Certificate (in accordance with Section 18(d)) representing the number of Preferred Shares not
converted. The Person or Persons entitled to receive the shares of Common Stock issuable upon a conversion of Preferred Shares
shall be treated for all purposes as the record holder or holders of such shares of Common Stock on the Conversion Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ii) <U>Company&rsquo;s
Failure to Timely Convert</U>. If the Company shall fail, for any reason or for no reason, on or prior to the applicable Share
Delivery Deadline, either (I) to issue to such Holder a certificate for the number of shares of Common Stock to which such Holder
is entitled and register such shares of Common Stock on the Company&rsquo;s share register or to credit such Holder&rsquo;s or
its designee&rsquo;s balance account with DTC for such number of shares of Common Stock to which such Holder is entitled upon
such Holder&rsquo;s conversion of any Conversion Amount (as the case may be) or (II) if a registration statement (the &ldquo;<B>Registration
Statement</B>&rdquo;) covering the resale of the shares of Common Stock that are the subject of the Conversion Notice (the &ldquo;<B>Unavailable
Conversion Shares</B>&rdquo;) is not available for the resale of such Unavailable Conversion Shares and the Company fails to promptly,
(x) notify the Holder and (y) deliver the shares of Common Stock electronically without any restrictive legend by crediting such
aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder&rsquo;s or
its designee&rsquo;s balance account with DTC through its Deposit/Withdrawal At Custodian system (the event described in the immediately
foregoing clause (II) is hereinafter referred as a &ldquo;<B>Notice Failure</B>&rdquo; and together with the event described in
clause (I) above, a &ldquo;<B>Conversion Failure</B>&rdquo;), then, in addition to all other remedies available to such Holder,
(X) the Company shall pay in cash to such Holder on each day after the Share Delivery Deadline and during such Conversion Failure
an amount equal to 2% of the product of (A) the sum of the number of shares of Common Stock not issued to such Holder on or prior
to the Share Delivery Deadline and to which such Holder is entitled, multiplied by (B) any trading price of the Common Stock selected
by such Holder in writing as in effect at any time during the period beginning on the applicable Conversion Date and ending on
the applicable Share Delivery Deadline, and (Y) such Holder, upon written notice to the Company, may void its Conversion Notice
with respect to, and retain or have returned, as the case may be, all, or any portion, of such Preferred Shares that has not been
converted pursuant to such Conversion Notice; provided that the voiding of an Conversion Notice shall not affect the Company&rsquo;s
obligations to make any payments which have accrued prior to the date of such notice pursuant to this Section 4(c)(ii) or otherwise.
In addition to the foregoing, if on or prior to the Share Delivery Deadline either (A) the Transfer Agent is not participating
in the DTC Fast Automated Securities Transfer Program, the Company shall fail to issue and deliver to such Holder (or its designee)
a certificate and register such shares of Common Stock on the Company&rsquo;s share register or, if the Transfer Agent is participating
in the DTC Fast Automated Securities Transfer Program, the Transfer Agent shall fail to credit the balance account of such Holder
or such Holder&rsquo;s designee with DTC for the number of shares of Common Stock to which such Holder is entitled upon such Holder&rsquo;s
exercise hereunder or pursuant to the Company&rsquo;s obligation pursuant to clause (ii) below or (B) a Notice Failure occurs,
and if on or after such Share Delivery Deadline such Holder purchases (in an open market transaction or otherwise) shares of Common
Stock to deliver in satisfaction of a sale by such Holder of all or any portion of the number of shares of Common Stock, or a
sale of a number of shares of Common Stock equal to all or any portion of the number of shares of Common Stock, issuable upon
such conversion that such Holder so anticipated receiving from the Company, then, in addition to all other remedies available
to such Holder, the Company shall, within two (2) Business Days after receipt of such Holder&rsquo;s request and in such Holder&rsquo;s
discretion, either: (I) pay cash to such Holder in an amount equal to such Holder&rsquo;s total purchase price (including brokerage
commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including, without limitation,
by any other Person in respect, or on behalf, of such Holder) (the &ldquo;<B>Buy-In Price</B>&rdquo;), at which point the Company&rsquo;s
obligation to so issue and deliver such certificate or credit such Holder&rsquo;s balance account with DTC for the number of shares
of Common Stock to which such Holder is entitled upon such Holder&rsquo;s conversion hereunder (as the case may be) (and to issue
such shares of Common Stock) shall terminate, or (II) promptly honor its obligation to so issue and deliver to such Holder a certificate
or certificates representing such shares of Common Stock or credit such Holder&rsquo;s balance account with DTC for the number
of shares of Common Stock to which such Holder is entitled upon such Holder&rsquo;s conversion hereunder (as the case may be)
and pay cash to such Holder in an amount equal to the excess (if any) of the Buy-In Price over the product of (x) such number
of shares of Common Stock multiplied by (y) the lowest Closing Sale Price of the Common Stock on any Trading Day during the period
commencing on the date of the applicable Conversion Notice and ending on the date of such issuance and payment under this clause
(II). Nothing herein shall limit the Holder&rsquo;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&rsquo;s
failure to timely deliver certificates representing shares of Common Stock (or to electronically deliver such shares of Common
Stock) upon the conversion of this Note as required pursuant to the terms hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(iii) <U>Registration; Book-Entry</U>. At the
time of issuance of any Preferred Shares hereunder, the applicable Holder may, by written request (including by electronic-mail)
to the Company, elect to receive such Preferred Shares in the form of one or more Preferred Share Certificates or in Book-Entry
form. The Company (or the Transfer Agent, as custodian for the Preferred Shares) shall maintain a register (the &ldquo;<B>Register</B>&rdquo;)
for the recordation of the names and addresses of the Holders of each Preferred Share and the Stated Value of the Preferred Shares
and whether the Preferred Shares are held by such Holder in Preferred Share Certificates or in Book-Entry form (the &ldquo;<B>Registered
Preferred Shares</B>&rdquo;). The entries in the Register shall be conclusive and binding for all purposes absent manifest error.
The Company and each Holder of the Preferred Shares shall treat each Person whose name is recorded in the Register as the owner
of a Preferred Share for all purposes (including, without limitation, the right to receive payments and Dividends hereunder) notwithstanding
notice to the contrary. A Registered Preferred Share may be assigned, transferred or sold only by registration of such assignment
or sale on the Register. Upon its receipt of a written request to assign, transfer or sell one or more Registered Preferred Shares
by such Holder thereof, the Company shall record the information contained therein in the Register and issue one or more new Registered
Preferred Shares in the same aggregate Stated Value as the Stated Value of the surrendered Registered Preferred Shares to the
designated assignee or transferee pursuant to Section&nbsp;18, provided that if the Company does not so record an assignment,
transfer or sale (as the case may be) of such Registered Preferred Shares within two (2) Business Days of such a request, then
the Register shall be automatically deemed updated to reflect such assignment, transfer or sale (as the case may be). Notwithstanding
anything to the contrary set forth in this Section&nbsp;4, following conversion of any Preferred Shares in accordance with the
terms hereof, the applicable Holder shall not be required to physically surrender such Preferred Shares held in the form of a
Preferred Share Certificate to the Company unless (A) the full or remaining number of Preferred Shares represented by the applicable
Preferred Share Certificate are being converted (in which event such certificate(s) shall be delivered to the Company as contemplated
by this Section 4(c)(iii)) or (B) such Holder has provided the Company with prior written notice (which notice may be included
in a Conversion Notice) requesting reissuance of Preferred Shares upon physical surrender of the applicable Preferred Share Certificate.
Each Holder and the Company shall maintain records showing the Stated Value, Dividends and Late Charges converted and/or paid
(as the case may be) and the dates of such conversions and/or payments (as the case may be) or shall use such other method, reasonably
satisfactory to such Holder and the Company, so as not to require physical surrender of a Preferred Share Certificate upon conversion.
If the Company does not update the Register to record such Stated Value, Dividends and Late Charges converted and/or paid (as
the case may be) and the dates of such conversions and/or payments (as the case may be) within two (2) Business Days of such occurrence,
then the Register shall be automatically deemed updated to reflect such occurrence. In the event of any dispute or discrepancy,
such records of such Holder establishing the number of Preferred Shares to which the record holder is entitled shall be controlling
and determinative in the absence of manifest error. A Holder and any transferee or assignee, by acceptance of a certificate, acknowledge
and agree that, by reason of the provisions of this paragraph, following conversion of any Preferred Shares, the number of Preferred
Shares represented by such certificate may be less than the number of Preferred Shares stated on the face thereof. Each Preferred
Share Certificate that is an Investor Restricted Security (as defined in the Exchange Agreements) (each, a &ldquo;<B>Restricted
Certificate</B>&rdquo;) and each certificate representing a share of Common Stock (the &ldquo;<B>Restricted Shares</B>&rdquo;)
issuable upon conversion of such Investor Restricted Securities represented by such Preferred Share Certificate shall bear the
following legend:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-align: justify; text-indent: 0in">[NEITHER THE ISSUANCE
AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE
BEEN][THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN] REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE
OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF
COUNSEL TO THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE
FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
BY THE SECURITIES.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 0in">Each Restricted
Certificate and/or Restricted Shares, as applicable, shall not be required to contain the legend set forth above (i) while a registration
statement covering the resale of such Investor Restricted Securities or Restricted Shares, as applicable, is effective under the
1933 Act, (ii) following any sale of such Investor Restricted Securities or Restricted Shares, as applicable, pursuant to Rule
144 (assuming the transferor is not an affiliate of the Company), (iii) if such Investor Restricted Securities or Restricted Shares,
as applicable, are eligible to be sold, assigned or transferred under Rule 144 (provided that a Holder provides the Company with
reasonable assurances that such Investor Restricted Securities or Restricted Shares, as applicable, are eligible for sale, assignment
or transfer under Rule 144 which shall not include an opinion of such Holder&rsquo;s counsel), (iv) in connection with a sale,
assignment or other transfer (other than under Rule 144), provided that such Holder provides the Company with an opinion of counsel
to such Holder, in a generally acceptable form, to the effect that such sale, assignment or transfer of such Investor Restricted
Securities or Restricted Shares, as applicable, may be made without registration under the applicable requirements of the 1933
Act or (v) if such legend is not required under applicable requirements of the 1933 Act (including, without limitation, controlling
judicial interpretations and pronouncements issued by the SEC).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify; text-indent: 0.5in">(iv) Each
Preferred Share Certificate shall bear the following legend:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in 12pt 2in; text-align: justify">ANY TRANSFEREE OR ASSIGNEE OF
THIS CERTIFICATE SHOULD CAREFULLY REVIEW THE TERMS OF THE CORPORATION&rsquo;S CERTIFICATE OF DESIGNATIONS RELATING TO THE SHARES
OF SERIES E PREFERRED STOCK REPRESENTED BY THIS CERTIFICATE, INCLUDING SECTION 4(c)(iii) THEREOF. THE NUMBER OF SHARES OF SERIES
D PREFERRED STOCK REPRESENTED BY THIS CERTIFICATE MAY BE LESS THAN THE NUMBER OF SHARES OF SERIES E PREFERRED STOCK STATED ON THE
FACE HEREOF PURSUANT TO SECTION 4(c)(iii) OF THE CERTIFICATE OF DESIGNATIONS RELATING TO THE SHARES OF SERIES E PREFERRED STOCK
REPRESENTED BY THIS CERTIFICATE.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(v) <U>Pro Rata
Conversion; Disputes</U>. In the event that the Company receives a Conversion Notice from more than one Holder for the same Conversion
Date and the Company can convert some, but not all, of such Preferred Shares submitted for conversion, the Company shall convert
from each Holder electing to have Preferred Shares converted on such date a pro rata amount of such Holder&rsquo;s Preferred Shares
submitted for conversion on such date based on the number of Preferred Shares submitted for conversion on such date by such Holder
relative to the aggregate number of Preferred Shares submitted for conversion on such date. In the event of a dispute as to the
number of shares of Common Stock issuable to a Holder in connection with a conversion of Preferred Shares, the Company shall issue
to such Holder the number of shares of Common Stock not in dispute and resolve such dispute in accordance with Section 23.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Limitation on Beneficial Ownership</U>. The Company shall not effect the conversion of any of the Preferred Shares held
by a Holder, and such Holder shall not have the right to convert any of the Preferred Shares held by such Holder pursuant to the
terms and conditions of this Certificate of Designations and any such conversion shall be null and void and treated as if never
made, to the extent that after giving effect to such conversion, such Holder together with the other Attribution Parties collectively
would beneficially own in excess of such holder&rsquo;s pro rata share (as set forth opposite such Holder&rsquo;s name in Schedule
I to the Exchange Agreements (subject to assignment, in whole or in part, by such initial holder of Preferred Shares to any other
person as designated in writing to the Company) (as applicable, the &ldquo;<B>Pro Rata Percentage</B>&rdquo;) of 9.99% (with respect
to any given Holder, the &ldquo;<B>Maximum Percentage</B>&rdquo;) of the shares of Common Stock outstanding immediately after giving
effect to such conversion. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially
owned by such Holder and the other Attribution Parties shall include the number of shares of Common Stock held by such Holder and
all other Attribution Parties plus the number of shares of Common Stock issuable upon conversion of the Preferred Shares with respect
to which the determination of such sentence is being made, but shall exclude shares of Common Stock which would be issuable upon
(A) conversion of the remaining, nonconverted Preferred Shares beneficially owned by such Holder or any of the other Attribution
Parties and (B) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including,
without limitation, any convertible notes, convertible preferred stock or warrants, including the Preferred Shares) beneficially
owned by such Holder or any other Attribution Party subject to a limitation on conversion or exercise analogous to the limitation
contained in this Section 4(d). For purposes of this Section 4(d), beneficial ownership shall be calculated in accordance with
Section 13(d) of the 1934 Act. For purposes of determining the number of outstanding shares of Common Stock a Holder may acquire
upon the conversion of such Preferred Shares without exceeding the Maximum Percentage, such Holder may rely on the number of outstanding
shares of Common Stock as reflected in (x) the Company&rsquo;s most recent Annual Report on Form 10-K, Quarterly Report on Form
10-Q, Current Report on Form 8-K or other public filing with the SEC, as the case may be, (y) a more recent public announcement
by the Company or (z) any other written notice by the Company or the Transfer Agent, if any, setting forth the number of shares
of Common Stock outstanding (the &ldquo;<B>Reported Outstanding Share Number</B>&rdquo;). If the Company receives a Conversion
Notice from a Holder at a time when the actual number of outstanding shares of Common Stock is less than the Reported Outstanding
Share Number, the Company shall notify such Holder in writing of the number of shares of Common Stock then outstanding and, to
the extent that such Conversion Notice would otherwise cause such Holder&rsquo;s beneficial ownership, as determined pursuant to
this Section 4(d), to exceed the Maximum Percentage, such Holder must notify the Company of a reduced number of shares of Common
Stock to be purchased pursuant to such Conversion Notice. For any reason at any time, upon the written or oral request of any Holder,
the Company shall within one (1) Business Day confirm orally and in writing or by electronic mail to such Holder the number of
shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after
giving effect to the conversion or exercise of securities of the Company, including such Preferred Shares, by such Holder and any
other Attribution Party since the date as of which the Reported Outstanding Share Number was reported. In the event that the issuance
of shares of Common Stock to a Holder upon conversion of such Preferred Shares results in such Holder and the other Attribution
Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number of outstanding shares
of Common Stock (as determined under Section 13(d) of the 1934 Act), the number of shares so issued by which such Holder&rsquo;s
and the other Attribution Parties&rsquo; aggregate beneficial ownership exceeds the Maximum Percentage (the &ldquo;<B>Excess Shares</B>&rdquo;)
shall be deemed null and void and shall be cancelled ab initio, and such Holder shall not have the power to vote or to transfer
the Excess Shares. Upon delivery of a written notice to the Company, any Holder may from time to time increase (with such increase
not effective until the sixty-first (61<SUP>st</SUP>) day after delivery of such notice) or decrease the Maximum Percentage of
such Holder to any other percentage not in excess of such Holder&rsquo;s Pro Rata Percentage of 9.99% as specified in such notice;
provided that (i) any such increase in the Maximum Percentage will not be effective until the sixty-first (61<SUP>st</SUP>) day
after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to such Holder and the other
Attribution Parties and not to any other Holder. For purposes of clarity, the shares of Common Stock issuable to a Holder pursuant
to the terms of this Certificate of Designations in excess of the Maximum Percentage shall not be deemed to be beneficially owned
by such Holder for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the 1934 Act. No prior inability
to convert such Preferred Shares pursuant to this paragraph shall have any effect on the applicability of the provisions of this
paragraph with respect to any subsequent determination of convertibility. The provisions of this paragraph shall be construed and
implemented in a manner otherwise than in strict conformity with the terms of this Section 4(d) to the extent necessary to correct
this paragraph (or any portion of this paragraph) which may be defective or inconsistent with the intended beneficial ownership
limitation contained in this Section 4(d) or to make changes or supplements necessary or desirable to properly give effect to such
limitation. The limitation contained in this paragraph may not be waived and shall apply to a successor holder of such Preferred
Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Triggering Event Conversion</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(i)
<U>General</U>. Subject to Section 4(d), at any time during the period commencing on the date of the occurrence of a Triggering
Event (defined below in Section 5(a)) and ending on the earlier to occur of (x) the date of the cure of such Triggering Event and
(y) twenty (20) Trading Days after the date the Company delivers written notice to the Holder of such Triggering Event, a Holder
may, at such Holder&rsquo;s option, by delivery of a Conversion Notice to the Company (the date of any such Conversion Notice,
each an &ldquo;<B>Triggering Event Conversion Date</B>&rdquo;), convert all, or any number of Preferred Shares (such Conversion
Amount of the Preferred Shares to be converted pursuant to this Section 4(e), the &ldquo;<B>Triggering Event Conversion Amount</B>&rdquo;)
into shares of Common Stock at the Triggering Event Conversion Price (each, a &ldquo;<B>Triggering Event Conversion</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ii)   <U>Mechanics
of Triggering Event Conversion</U>. On any Triggering Event Conversion Date, a Holder may voluntarily convert any Triggering Event
Conversion Amount pursuant to Section 4(c) (with &ldquo;Triggering Event Conversion Price&rdquo; replacing &ldquo;Conversion Price&rdquo;
for all purposes hereunder with respect to such Triggering Event Conversion and &ldquo;Redemption Premium of the Conversion Amount&rdquo;
replacing &ldquo;Conversion Amount&rdquo; in clause (x) of the definition of Conversion Rate above with respect to such Triggering
Event Conversion) by designating in the Conversion Notice delivered pursuant to this Section 4(e) of this Certificate of Designations
that such Holder is electing to use the Triggering Event Conversion Price for such conversion. Notwithstanding anything to the
contrary in this Section 4(e), but subject to Section 4(d), until the Company delivers shares of Common Stock representing the
applicable Triggering Event Conversion Amount to such Holder, such Triggering Event Conversion Amount may be converted by such
Holder into shares of Common Stock pursuant to Section 4(c) without regard to this Section 4(e).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Triggering Event Redemptions</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Triggering Event</U>. Each of the following events shall constitute a &ldquo;<B>Triggering Event</B>&rdquo; and each
of the events in clauses (ix), (x) and (xi) shall constitute a &ldquo;<B>Bankruptcy Triggering Event</B>&rdquo;:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(i)   the
Company does not meet the current public information requirements under Rule 144 in respect of the shares of Common Stock issuable
upon conversion of the Preferred Shares;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ii) the suspension
from trading or failure of the Common Stock to be trading or listed (as applicable) on an Eligible Market for a period of five
(5) consecutive Trading Days;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(iii)   the
Company&rsquo;s notice, written or oral, to any holder of Preferred Shares, including, without limitation, by way of public announcement
or through any of its agents, at any time, of its intention not to comply, as required, with a request for conversion of any Preferred
Shares into shares of Common Stock that is requested in accordance with the provisions of this Certificate of Designations, other
than pursuant to Section 4(d) hereof;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(iv)   at
any time following the tenth (10<SUP>th</SUP>) consecutive day that a Holder&rsquo;s Authorized Share Allocation (as defined in
Section 10(a) below) is less than 125% of the number of shares of Common Stock that such Holder would be entitled to receive upon
a conversion, in full, of all of the Preferred Shares then held by such Holder (without regard to any limitations on conversion
set forth in this Certificate of Designations);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(v)   the
Board fails to declare any Dividend to be paid on the applicable Dividend Date in accordance with Section 3;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(vi) the Company&rsquo;s
failure to pay to any Holder any Dividend on any Dividend Date (whether or not declared by the Board) or any other amount when
and as due under this Certificate of Designations (including, without limitation, the Company&rsquo;s failure to pay any redemption
payments or amounts hereunder), the Exchange Agreements or any other Transaction Document or any other agreement, document, certificate
or other instrument delivered in connection with the transactions contemplated hereby and thereby (in each case, whether or not
permitted pursuant to the NRS), except, in the case of a failure to pay Dividends and Late Charges when and as due, in each such
case only if such failure remains uncured for a period of at least two (2) Trading Days;;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(vii)   the
Company, on two or more occasions, either (A) fails to cure a Conversion Failure by delivery of the required number of shares of
Common Stock within five (5) Trading Days after the applicable Conversion Date or (B) fails to remove any restrictive legend on
any certificate or any shares of Common Stock issued to such Holder upon conversion of any Preferred Shares or as and when required
by this Certificate of Designations unless otherwise then prohibited by applicable federal securities laws, and any such failure
remains uncured for at least five (5) Trading Days;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(viii)   the
occurrence of any default under, redemption of or acceleration prior to maturity of at least an aggregate of $100,000 of Indebtedness
of the Company or any of its Subsidiaries;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ix)   bankruptcy,
insolvency, reorganization or liquidation proceedings or other proceedings for the relief of debtors shall be instituted by or
against the Company or any Subsidiary and, if instituted against the Company or any Subsidiary by a third party, shall not be dismissed
within thirty (30) days of their initiation;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(x)   the
commencement by the Company or any Subsidiary of a voluntary case or proceeding under any applicable federal, state or foreign
bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or
insolvent, or the consent by it to the entry of a decree, order, judgment or other similar document in respect of the Company or
any Subsidiary in an involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization
or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it
of a petition or answer or consent seeking reorganization or relief under any applicable federal, state or foreign law, or the
consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Company or any Subsidiary or of any substantial part of its property,
or the making by it of an assignment for the benefit of creditors, or the execution of a composition of debts, or the occurrence
of any other similar federal, state or foreign proceeding, or the admission by it in writing of its inability to pay its debts
generally as they become due, the taking of corporate action by the Company or any Subsidiary in furtherance of any such action
or the taking of any action by any Person to commence a Uniform Commercial Code foreclosure sale or any other similar action under
federal, state or foreign law;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(xi)   the
entry by a court of (i) a decree, order, judgment or other similar document in respect of the Company or any Subsidiary of a voluntary
or involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization or other
similar law or (ii) a decree, order, judgment or other similar document adjudging the Company or any Subsidiary as bankrupt or
insolvent, or approving as properly filed a petition seeking liquidation, reorganization, arrangement, adjustment or composition
of or in respect of the Company or any Subsidiary under any applicable federal, state or foreign law or (iii) a decree, order,
judgment or other similar document appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or any Subsidiary or of any substantial part of its property, or ordering the winding up or liquidation
of its affairs, and the continuance of any such decree, order, judgment or other similar document or any such other decree, order,
judgment or other similar document unstayed and in effect for a period of thirty (30) consecutive days;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(xii)   a
final judgment or judgments for the payment of money aggregating in excess of $100,000 are rendered against the Company and/or
any of its Subsidiaries and which judgments are not, within thirty (30) days after the entry thereof, bonded, discharged, settled
or stayed pending appeal, or are not discharged within thirty (30) days after the expiration of such stay; provided, however, any
judgment which is covered by insurance or an indemnity from a credit worthy party shall not be included in calculating the $100,000
amount set forth above so long as the Company provides each Holder a written statement from such insurer or indemnity provider
(which written statement shall be reasonably satisfactory to each Holder) to the effect that such judgment is covered by insurance
or an indemnity and the Company or such Subsidiary (as the case may be) will receive the proceeds of such insurance or indemnity
within thirty (30) days of the issuance of such judgment;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(xiii)   the
Company and/or any Subsidiary, individually or in the aggregate, either (i) fails to pay, when due, or within any applicable grace
period, any payment with respect to any Indebtedness in excess of $100,000 due to any third party (other than, with respect to
unsecured Indebtedness only, payments contested by the Company and/or such Subsidiary (as the case may be) in good faith by proper
proceedings and with respect to which adequate reserves have been set aside for the payment thereof in accordance with GAAP) or
is otherwise in breach or violation of any agreement for monies owed or owing in an amount in excess of $100,000, which breach
or violation permits the other party thereto to declare a default or otherwise accelerate amounts due thereunder, or (ii) suffer
to exist any other circumstance or event that would, with or without the passage of time or the giving of notice, result in a default
or event of default under any agreement binding the Company or any Subsidiary, which default or event of default would or is likely
to have a material adverse effect on the business, assets, operations (including results thereof), liabilities, properties, condition
(including financial condition) or prospects of the Company or any of its Subsidiaries, individually or in the aggregate;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(xiv)   other
than as specifically set forth in another clause of this Section 5(a), the Company or any Subsidiary breaches any representation
or warranty in any material respect (other than representations or warranties subject to material adverse effect or materiality,
which may not be breached in any respect) or any covenant or other term or condition of any Transaction Document, except, in the
case of a breach of a covenant or other term or condition that is curable, only if such breach remains uncured for a period of
five (5) consecutive Trading Days;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(xv)   a
false or inaccurate certification (including a false or inaccurate deemed certification) by the Company as to whether any Triggering
Event has occurred;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(xvi)   any
breach or failure in any respect by the Company to comply with any provision of Section 13(d) of this Certificate of Designations;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(xvii)   any
Material Adverse Effect occurs; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(xviii) any
provision of any Transaction Document shall at any time for any reason (other than pursuant to the express terms thereof) cease
to be valid and binding on or enforceable against the parties thereto, or the validity or enforceability thereof shall be contested,
directly or indirectly, by the Company or any Subsidiary, or a proceeding shall be commenced by the Company or any Subsidiary or
any governmental authority having jurisdiction over any of them, seeking to establish the invalidity or unenforceability thereof
or the Company or any of its Subsidiaries shall deny in writing that it has any liability or obligation purported to be created
under one or more Transaction Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Notice of a Triggering Event; Redemption Right</U>. Upon the occurrence of a Triggering Event with respect to the Preferred
Shares, the Company shall within one (1) Business Day deliver written notice thereof via facsimile or electronic mail and overnight
courier (with next day delivery specified) (an &ldquo;<B>Triggering Event Notice</B>&rdquo;) to each Holder. At any time after
the earlier of a Holder&rsquo;s receipt of a Triggering Event Notice and such Holder becoming aware of a Triggering Event (such
earlier date, the &ldquo;<B>Triggering Event Right Commencement Date</B>&rdquo;) and ending (such ending date, the &ldquo;<B>Triggering
Event Right Expiration Date</B>&rdquo;, and each such period, an &ldquo;<B>Triggering Event Redemption Right Period</B>&rdquo;)
on the twentieth (20<SUP>th</SUP>) Trading Day after the later of (x) the date such Triggering Event is cured and (y) such Holder&rsquo;s
receipt of a Triggering Event Notice that includes (I) a reasonable description of the applicable Triggering Event, (II) a certification
as to whether, in the opinion of the Company, such Triggering Event is capable of being cured and, if applicable, a reasonable
description of any existing plans of the Company to cure such Triggering Event and (III) a certification as to the date the Triggering
Event occurred and, if cured on or prior to the date of such Triggering Event Notice, the applicable Triggering Event Right Expiration
Date, such Holder may require the Company to redeem (regardless of whether such Triggering Event has been cured on or prior to
the Triggering Event Right Expiration Date) all or any of the Preferred Shares by delivering written notice thereof (the &ldquo;<B>Triggering
Event Redemption Notice</B>&rdquo;) to the Company, which Triggering Event Redemption Notice shall indicate the number of the Preferred
Shares such Holder is electing to redeem. Each of the Preferred Shares subject to redemption by the Company pursuant to this Section
5(b) shall be redeemed by the Company at a price equal to the greater of (i) the product of (A) the Conversion Amount to be redeemed
multiplied by (B) the Redemption Premium and (ii) the product of (X) the Conversion Rate with respect to the Conversion Amount
in effect at such time as such Holder delivers a Triggering Event Redemption Notice multiplied by (Y) the product of (1) the Redemption
Premium multiplied by (2) the greatest Closing Sale Price of the Common Stock on any Trading Day during the period commencing on
the date immediately preceding such Triggering Event and ending on the date the Company makes the entire payment required to be
made under this Section 5(b) (the &ldquo;<B>Triggering Event Redemption Price</B>&rdquo;). Redemptions required by this Section
5(b) shall be made in accordance with the provisions of Section 11. To the extent redemptions required by this Section 5(b) are
deemed or determined by a court of competent jurisdiction to be prepayments of the Preferred Shares by the Company, such redemptions
shall be deemed to be voluntary prepayments. Notwithstanding anything to the contrary in this Section 5(b), but subject to Section
4(d), until the Triggering Event Redemption Price (together with any Late Charges thereon) is paid in full, the Conversion Amount
submitted for redemption under this Section 5(b) (together with any Late Charges thereon) may be converted, in whole or in part,
by such Holder into Common Stock pursuant to the terms of this Certificate of Designations. In the event of the Company&rsquo;s
redemption of any of the Preferred Shares under this Section 5(b), a Holder&rsquo;s damages would be uncertain and difficult to
estimate because of the parties&rsquo; inability to predict future interest rates and the uncertainty of the availability of a
suitable substitute investment opportunity for such Holder. Accordingly, any redemption premium due under this Section 5(b) is
intended by the parties to be, and shall be deemed, a reasonable estimate of such Holder&rsquo;s actual loss of its investment
opportunity and not as a penalty. Any redemption upon a Triggering Event shall not constitute an election of remedies by the applicable
Holder or any other Holder, and all other rights and remedies of each Holder shall be preserved.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Mandatory Redemption upon Bankruptcy Triggering Event</U>. Notwithstanding anything to the contrary herein, and notwithstanding
any conversion that is then required or in process, upon any Bankruptcy Triggering Event, the Company shall immediately redeem,
in cash, each of the Preferred Shares then outstanding at a redemption price equal to the applicable Triggering Event Redemption
Price (calculated as if such Holder shall have delivered the Triggering Event Redemption Notice immediately prior to the occurrence
of such Bankruptcy Triggering Event), without the requirement for any notice or demand or other action by any Holder or any other
person or entity, provided that a Holder may, in its sole discretion, waive such right to receive payment upon a Bankruptcy Triggering
Event, in whole or in part, and any such waiver shall not affect any other rights of such Holder or any other Holder hereunder,
including any other rights in respect of such Bankruptcy Triggering Event, any right to conversion, and any right to payment of
such Triggering Event Redemption Price or any other Redemption Price, as applicable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 67.7pt">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Rights Upon Fundamental Transactions</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Assumption</U>. The Company shall not enter into or be party to a Fundamental Transaction unless (i)&nbsp;the Successor
Entity assumes in writing all of the obligations of the Company under this Certificate of Designations and the other Transaction
Documents in accordance with the provisions of this Section 6(a) pursuant to written agreements in form and substance satisfactory
to the Required Holders and approved by the Required Holders prior to such Fundamental Transaction, including agreements to deliver
to each holder of Preferred Shares in exchange for such Preferred Shares a security of the Successor Entity evidenced by a written
instrument substantially similar in form and substance to this Certificate of Designations, including, without limitation, having
a stated value and dividend rate equal to the stated value and dividend rate of the Preferred Shares held by the Holders and having
similar ranking to the Preferred Shares, and satisfactory to the Required Holders and (ii)&nbsp;the Successor Entity (including
its Parent Entity) is a publicly traded corporation whose shares of common stock are quoted on or listed for trading on an Eligible
Market. Upon the occurrence of any Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that
from and after the date of such Fundamental Transaction, the provisions of this Certificate of Designations and the other Transaction
Documents referring to the &ldquo;Company&rdquo; shall refer instead to the Successor Entity), and may exercise every right and
power of the Company and shall assume all of the obligations of the Company under this Certificate of Designations and the other
Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein and therein. In addition
to the foregoing, upon consummation of a Fundamental Transaction, the Successor Entity shall deliver to each Holder confirmation
that there shall be issued upon conversion or redemption of the Preferred Shares at any time after the consummation of such Fundamental
Transaction, in lieu of the shares of Common Stock (or other securities, cash, assets or other property (except such items still
issuable under Sections 7 and 15, which shall continue to be receivable thereafter)) issuable upon the conversion or redemption
of the Preferred Shares prior to such Fundamental Transaction, such shares of the publicly traded common stock (or their equivalent)
of the Successor Entity (including its Parent Entity) which each Holder would have been entitled to receive upon the happening
of such Fundamental Transaction had all the Preferred Shares held by each Holder been converted immediately prior to such Fundamental
Transaction (without regard to any limitations on the conversion of the Preferred Shares contained in this Certificate of Designations),
as adjusted in accordance with the provisions of this Certificate of Designations. Notwithstanding the foregoing, such Holder may
elect, at its sole option, by delivery of written notice to the Company to waive this Section 6(a) to permit the Fundamental Transaction
without the assumption of the Preferred Shares. The provisions of this Section 6 shall apply similarly and equally to successive
Fundamental Transactions and shall be applied without regard to any limitations on the conversion or redemption of the Preferred
Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Change of Control Redemption Right</U>. No sooner than twenty (20) Trading Days nor later than ten (10) Trading Days
prior to the consummation of a Change of Control(the &ldquo;<B>Change of Control Date</B>&rdquo;), but not prior to the public
announcement of such Change of Control, the Company shall deliver written notice thereof via facsimile or electronic mail and overnight
courier to each Holder (a &ldquo;<B>Change of Control Notice</B>&rdquo;). At any time during the period beginning after a Holder&rsquo;s
receipt of a Change of Control Notice or such Holder becoming aware of a Change of Control if a Change of Control Notice is not
delivered to such Holder in accordance with the immediately preceding sentence (as applicable) and ending on the later of twenty
(20) Trading Days after (A) consummation of such Change of Control or (B) the date of receipt of such Change of Control Notice,
such Holder may require the Company to redeem all or any portion of such Holder&rsquo;s Preferred Shares by delivering written
notice thereof (&ldquo;<B>Change of Control Redemption Notice</B>&rdquo;) to the Company, which Change of Control Redemption Notice
shall indicate the number of Preferred Shares such Holder is electing to have the Company redeem. Each Preferred Share subject
to redemption pursuant to this Section 6(b) shall be redeemed by the Company in cash at a price equal to the greatest of (i) the
product of (x) the Change of Control Redemption Premium multiplied by (y) the Conversion Amount being redeemed, (ii) the product
of (x) the Change of Control Redemption Premium multiplied by (y) the product of (A) the Conversion Amount being redeemed multiplied
by (B) the quotient determined by dividing (I) the greatest Closing Sale Price of the shares of Common Stock during the period
beginning on the date immediately preceding the earlier to occur of (1) the consummation of the applicable Change of Control and
(2) the public announcement of such Change of Control and ending on the date such Holder delivers the Change of Control Redemption
Notice by (II) the Conversion Price then in effect and (iii) the product of (x) the Change of Control Redemption Premium multiplied
by (y) the product of (A) the Conversion Amount being redeemed multiplied by (B) the quotient of (I) the aggregate cash consideration
and the aggregate cash value of any non-cash consideration per share of Common Stock to be paid to such holders of the shares of
Common Stock upon consummation of such Change of Control (any such non-cash consideration constituting publicly-traded securities
shall be valued at the highest of the Closing Sale Price of such securities as of the Trading Day immediately prior to the consummation
of such Change of Control, the Closing Sale Price of such securities on the Trading Day immediately following the public announcement
of such proposed Change of Control and the Closing Sale Price of such securities on the Trading Day immediately prior to the public
announcement of such proposed Change of Control) divided by (II) the Conversion Price then in effect (the &ldquo;<B>Change of Control
Redemption Price</B>&rdquo;). Redemptions required by this Section 6(b) shall have priority to payments to all other shareholders
of the Company in connection with such Change of Control. To the extent redemptions required by this Section 6(b) are deemed or
determined by a court of competent jurisdiction to be prepayments of the Preferred Shares by the Company, such redemptions shall
be deemed to be voluntary prepayments. Notwithstanding anything to the contrary in this Section 6(b), but subject to Section 4(d),
until the applicable Change of Control Redemption Price (together with any Late Charges thereon) is paid in full to the applicable
Holder, the Preferred Shares submitted by such Holder for redemption under this Section 6(b) may be converted, in whole or in part,
by such Holder into Common Stock pursuant to Section 4 or in the event the Conversion Date is after the consummation of such Change
of Control, stock or equity interests of the Successor Entity substantially equivalent to the Company&rsquo;s shares of Common
Stock pursuant to Section 4. In the event of the Company&rsquo;s redemption of any of the Preferred Shares under this Section 6(b),
such Holder&rsquo;s damages would be uncertain and difficult to estimate because of the parties&rsquo; inability to predict future
interest rates and the uncertainty of the availability of a suitable substitute investment opportunity for a Holder. Accordingly,
any redemption premium due under this Section 6(b) is intended by the parties to be, and shall be deemed, a reasonable estimate
of such Holder&rsquo;s actual loss of its investment opportunity and not as a penalty. The Company shall make payment of the applicable
Change of Control Redemption Price concurrently with the consummation of such Change of Control if a Change of Control Redemption
Notice is received prior to the consummation of such Change of Control and within two (2) Trading Days after the Company&rsquo;s
receipt of such notice otherwise (the &ldquo;<B>Change of Control Redemption Date</B>&rdquo;). Redemptions required by this Section
6 shall be made in accordance with the provisions of Section 11.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Rights Upon Issuance of Purchase Rights and Other Corporate Events</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Purchase Rights</U>. In addition to any adjustments pursuant to Section 8 below, if at any time the Company grants, issues
or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to all
or substantially all of the record holders of any class of Common Stock (the &ldquo;<B>Purchase Rights</B>&rdquo;), then each Holder
will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which such Holder
could have acquired if such Holder had held the number of shares of Common Stock acquirable upon complete conversion of all the
Preferred Shares (without taking into account any limitations or restrictions on the convertibility of the Preferred Shares) held
by such Holder immediately prior to 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 shares of Common Stock are to be determined for the
grant, issue or sale of such Purchase Rights (provided, however, to the extent that such Holder&rsquo;s right to participate in
any such Purchase Right would result in such Holder and the other Attribution Parties exceeding the Maximum Percentage, then such
Holder shall not be entitled to participate in such Purchase Right to such extent (and shall not be entitled to beneficial ownership
of such shares of Common Stock as a result of such Purchase Right (and beneficial ownership) to such extent) and such Purchase
Right to such extent shall be held in abeyance for such Holder until such time or times , if ever, as its right thereto would not
result in such Holder and the other Attribution Parties exceeding the Maximum Percentage), at which time or times such Holder shall
be granted such right (and any Purchase Right granted, issued or sold on such initial Purchase Right or on any subsequent Purchase
Right to be held similarly in abeyance) to the same extent as if there had been no such limitation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Other Corporate Events</U>. In addition to and not in substitution for any other rights hereunder, prior to the consummation
of any Fundamental Transaction pursuant to which holders of shares of Common Stock are entitled to receive securities or other
assets with respect to or in exchange for shares of Common Stock (a &ldquo;<B>Corporate Event</B>&rdquo;), the Company shall make
appropriate provision to insure that each Holder will thereafter have the right to receive upon a conversion of all the Preferred
Shares held by such Holder (i) in addition to the shares of Common Stock receivable upon such conversion, such securities or other
assets to which such Holder would have been entitled with respect to such shares of Common Stock had such shares of Common Stock
been held by such Holder upon the consummation of such Corporate Event (without taking into account any limitations or restrictions
on the convertibility of the Preferred Shares contained in this Certificate of Designations) or (ii) in lieu of the shares of Common
Stock otherwise receivable upon such conversion, such securities or other assets received by the holders of shares of Common Stock
in connection with the consummation of such Corporate Event in such amounts as such Holder would have been entitled to receive
had the Preferred Shares held by such Holder initially been issued with conversion rights for the form of such consideration (as
opposed to shares of Common Stock) at a conversion rate for such consideration commensurate with the Conversion Rate. Provision
made pursuant the proceeding sentence shall be in a form and substance satisfactory to the Holder. The provisions of this Section
7 shall apply similarly and equally to successive Corporate Events and shall be applied without regard to any limitations on the
conversion or redemption of the Preferred Shares contained in this Certificate of Designations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Rights Upon Issuance of Other Securities</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Adjustment of Conversion Price upon Subdivision or Combination of Common Stock</U>. Without limiting any provision of
Section 6 or Section 15, if the Company at any time on or after the Exchange Date subdivides (by any stock split, stock dividend,
stock combination, recapitalization or other similar transaction) one or more classes of its outstanding shares of Common Stock
into a greater number of shares, the Conversion Price in effect immediately prior to such subdivision will be proportionately reduced.
Without limiting any provision of Section 6 or Section 15, if the Company at any time on or after the Exchange Date combines (by
any stock split, stock dividend, stock combination, recapitalization or other similar transaction) one or more classes of its outstanding
shares of Common Stock into a smaller number of shares, the Conversion Price in effect immediately prior to such combination will
be proportionately increased. Any adjustment pursuant to this Section 8(a) shall become effective immediately after the effective
date of such subdivision or combination. If any event requiring an adjustment under this Section 8(a) occurs during the period
that a Conversion Price is calculated hereunder, then the calculation of such Conversion Price shall be adjusted appropriately
to reflect such event.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Calculations</U>. All calculations under this Section 8 shall be made by rounding to the nearest cent or the nearest
1/100<SUP>th</SUP> of a share, as applicable. The number of shares of Common Stock outstanding at any given time shall not include
shares owned or held by or for the account of the Company, and the disposition of any such shares shall be considered an issue
or sale of Common Stock.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Voluntary Adjustment by Company</U>. The Company may at any time any Preferred Shares remain outstanding, with the prior
written consent of the Required Holders, reduce the then current Conversion Price to any amount and for any period of time deemed
appropriate by the Board.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Noncircumvention</U>. The Company hereby covenants and agrees that the Company will not, by amendment of its Articles
of Incorporation, bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution,
issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Certificate of Designations, and will at all times in good faith carry out all the provisions of this Certificate
of Designations and take all action as may be required to protect the rights of the Holders hereunder. Without limiting the generality
of the foregoing or any other provision of this Certificate of Designations or the other Transaction Documents, the Company (a)
shall not increase the par value of any shares of Common Stock receivable upon the conversion of any Preferred Shares above the
Conversion Price then in effect, (b) shall take all such actions as may be necessary or appropriate in order that the Company may
validly and legally issue fully paid and non-assessable shares of Common Stock upon the conversion of Preferred Shares and (c)
shall, so long as any Preferred Shares are outstanding, take all action necessary to reserve and keep available out of its authorized
and unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Preferred Shares, the maximum number
of shares of Common Stock as shall from time to time be necessary to effect the conversion of the Preferred Shares then outstanding
(without regard to any limitations on conversion contained herein). Notwithstanding anything herein to the contrary, if after the
seventy-five (75) calendar day anniversary of the Initial Issuance Date, each Holder is not permitted to convert such Holder&rsquo;s
Preferred Shares in full for any reason (other than pursuant to restrictions set forth in Section 4(d) hereof), the Company shall
use its best efforts to promptly remedy such failure, including, without limitation, obtaining such consents or approvals as necessary
to effect such conversion into shares of Common Stock.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Authorized Shares</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Reservation</U>. So long as any Preferred Shares remain outstanding, the Company shall at all times reserve at least
125% of the number of shares of Common Stock as shall from time to time be necessary to effect the conversion, including without
limitation, Triggering Event Conversion, of all of the Preferred Shares then outstanding (without regard to any limitations on
conversions and assuming the Preferred Shares remain outstanding) (the &ldquo;<B>Required Reserve Amount</B>&rdquo;). The Required
Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among
the Holders based on the number of the Preferred Shares held by each Holder on the Initial Issuance Date or increase in the number
of reserved shares, as the case may be (the &ldquo;<B>Authorized Share Allocation</B>&rdquo;). In the event that a Holder shall
sell or otherwise transfer any of such Holder&rsquo;s Preferred Shares, each transferee shall be allocated a pro rata portion of
such Holder&rsquo;s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to
hold any Preferred Shares shall be allocated to the remaining Holders of Preferred Shares, pro rata based on the number of the
Preferred Shares then held by the Holders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Insufficient Authorized Shares</U>. If, notwithstanding Section 10(a) and not in limitation thereof, while any of the
Preferred Shares remain outstanding the Company does not have a sufficient number of authorized and unreserved shares of Common
Stock to satisfy its obligation to reserve for issuance upon conversion of the Preferred Shares at least a number of shares of
Common Stock equal to the Required Reserve Amount (an &ldquo;<B>Authorized Share Failure</B>&rdquo;), then the Company shall immediately
take all action necessary to increase the Company&rsquo;s authorized shares of Common Stock to an amount sufficient to allow the
Company to reserve the Required Reserve Amount for the Preferred Shares then outstanding. Without limiting the generality of the
foregoing sentence, as soon as practicable after the date of the occurrence of an Authorized Share Failure, but in no event later
than sixty (60) days after the occurrence of such Authorized Share Failure, the Company shall hold a meeting or obtain written
consent of its shareholders for the approval of an increase in the number of authorized shares of Common Stock. In connection with
such meeting, the Company shall provide each shareholder with a proxy statement or information statement, as applicable, and shall
use its best efforts to solicit or obtain its shareholders&rsquo; approval of such increase in authorized shares of Common Stock
and to cause its board of directors to recommend to the shareholders that they approve such proposal. In the event that the Company
is prohibited from issuing shares of Common Stock to a Holder upon any conversion due to the failure by the Company to have sufficient
shares of Common Stock available out of the authorized but unissued shares of Common Stock (such unavailable number of shares of
Common Stock, the &ldquo;<B>Authorized Failure Shares</B>&rdquo;), in lieu of delivering such Authorized Failure Shares to such
Holder, the Company shall pay cash in exchange for the redemption of such portion of the Conversion Amount convertible into such
Authorized Failure Shares at a price equal to the sum of (i) the product of (x) such number of Authorized Failure Shares and (y)
the greatest Closing Sale Price of the Common Stock on any Trading Day during the period commencing on the date such Holder delivers
the applicable Conversion Notice with respect to such Authorized Failure Shares to the Company and ending on the date of such issuance
and payment under this Section 10(b); and (ii) to the extent such Holder purchases (in an open market transaction or otherwise)
shares of Common Stock to deliver in satisfaction of a sale by such Holder of Authorized Failure Shares, any brokerage commissions
and other out-of-pocket expenses, if any, of such Holder incurred in connection therewith.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">    &nbsp;
</FONT><U>Redemptions.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>General</U>. If a Holder has submitted a Triggering Event Redemption Notice in accordance with Section 5(b), the Company
shall deliver the applicable Triggering Event Redemption Price to such Holder in cash within five (5) Business Days after the Company&rsquo;s
receipt of such Holder&rsquo;s Triggering Event Redemption Notice. If a Holder has submitted a Change of Control Redemption Notice
in accordance with Section 6(b), the Company shall deliver the applicable Change of Control Redemption Price to such Holder in
cash concurrently with the consummation of such Change of Control if such notice is received prior to the consummation of such
Change of Control and within five (5) Business Days after the Company&rsquo;s receipt of such notice otherwise. Notwithstanding
anything herein to the contrary, in connection with any redemption hereunder at a time a Holder is entitled to receive a cash payment
under any of the other Transaction Documents, at the option of such Holder delivered in writing to the Company, the applicable
Redemption Price hereunder shall be increased by the amount of such cash payment owed to such Holder under such other Transaction
Document and, upon payment in full or conversion in accordance herewith, shall satisfy the Company&rsquo;s payment obligation under
such other Transaction Document. In the event of a redemption of less than all of the Preferred Shares, the Company shall promptly
cause to be issued and delivered to such Holder a new Preferred Share Certificate (in accordance with Section 18) (or evidence
of the creation of a new Book-Entry) representing the number of Preferred Shares which have not been redeemed. In the event that
the Company does not pay the applicable Redemption Price to a Holder within the time period required for any reason (including,
without limitation, to the extent such payment is prohibited pursuant to the NRS), at any time thereafter and until the Company
pays such unpaid Redemption Price in full, such Holder shall have the option, in lieu of redemption, to require the Company to
promptly return to such Holder all or any of the Preferred Shares that were submitted for redemption and for which the applicable
Redemption Price (together with any Late Charges thereon) has not been paid. Upon the Company&rsquo;s receipt of such notice, (x)
the applicable Redemption Notice shall be null and void with respect to such Preferred Shares, (y) the Company shall immediately
return the applicable Preferred Share Certificate, or issue a new Preferred Share Certificate (in accordance with Section 18(d)),
to such Holder (unless the Preferred Shares are held in Book-Entry form, in which case the Company shall deliver evidence to such
Holder that a Book-Entry for such Preferred Shares then exists), and in each case the Additional Amount of such Preferred Shares
shall be increased by an amount equal to the difference between (1) the applicable Redemption Price (as the case may be, and as
adjusted pursuant to this Section 11, if applicable) minus (2) the Stated Value portion of the Conversion Amount submitted for
redemption and (z) the Conversion Price of such Preferred Shares shall be automatically adjusted with respect to each conversion
effected thereafter by such Holder to the lowest of (A) the Conversion Price as in effect on the date on which the applicable Redemption
Notice is voided, (B) 75% of the lowest Closing Bid Price of the Common Stock during the period beginning on and including the
date on which the applicable Redemption Notice is delivered to the Company and ending on and including the date on which the applicable
Redemption Notice is voided and (C) 75% of the quotient of (I) the sum of the five (5) lowest VWAPs of the Common Stock during
the twenty (20) consecutive Trading Day period ending and including the Trading Day immediately preceding the applicable Conversion
Date divided by (II) five (5) (it being understood and agreed that all such determinations shall be appropriately adjusted for
any stock dividend, stock split, stock combination or other similar transaction during such period). A Holder&rsquo;s delivery
of a notice voiding a Redemption Notice and exercise of its rights following such notice shall not affect the Company&rsquo;s obligations
to make any payments of Late Charges which have accrued prior to the date of such notice with respect to the Preferred Shares subject
to such notice.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Redemption by Multiple Holders</U>. Upon the Company&rsquo;s receipt of a Redemption Notice from any Holder for redemption
or repayment as a result of an event or occurrence substantially similar to the events or occurrences described in Section 5(b)
or Section 6(b), the Company shall immediately, but no later than one (1) Business Day of its receipt thereof, forward to each
other Holder by facsimile or electronic mail a copy of such notice. If the Company receives one or more Redemption Notices, during
the seven (7) Business Day period beginning on and including the date which is two (2) Business Days prior to the Company&rsquo;s
receipt of the initial Redemption Notice and ending on and including the date which is two (2) Business Days after the Company&rsquo;s
receipt of the initial Redemption Notice and the Company is unable to redeem all principal, interest and other amounts designated
in such initial Redemption Notice and such other Redemption Notices received during such seven (7) Business Day period, then the
Company shall redeem a pro rata amount from each Holder based on the principal amount of the Preferred Shares submitted for redemption
pursuant to such Redemption Notices received by the Company during such seven (7) Business Day period.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Voting Rights</U>. Holders of Preferred Shares shall have no voting rights, except on matters required by law (including
without limitation, the NRS) or by this Certificate of Designations to be submitted to a class vote of the holders of the Preferred
Shares. To the extent that under the NRS the vote of the holders of the Preferred Shares, voting separately as a class or series,
as applicable, is required to authorize a given action of the Company, the affirmative vote or consent of the Required Holders
of the shares of the Preferred Shares, voting together in the aggregate and not in separate series unless required under the NRS,
represented at a duly held meeting at which a quorum is presented or by written consent of the Required Holders (except as otherwise
may be required under the NRS), voting together in the aggregate and not in separate series unless required under the NRS, shall
constitute the approval of such action by both the class or the series, as applicable. Subject to Section 4(d), to the extent that
under the NRS holders of the Preferred Shares are entitled to vote on a matter with holders of shares of Common Stock, voting together
as one class, each Preferred Share shall entitle the holder thereof to cast that number of votes per share as is equal to the number
of shares of Common Stock into which it is then convertible (subject to the ownership limitations specified in Section 4(d) hereof)
using the record date for determining the shareholders of the Company eligible to vote on such matters as the date as of which
the Conversion Price is calculated. Holders of the Preferred Shares shall be entitled to written notice of all shareholder meetings
or written consents (and copies of proxy materials and other information sent to shareholders) with respect to which they would
be entitled to vote, which notice would be provided pursuant to the Company&rsquo;s bylaws and the NRS.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Covenants</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Restriction on Redemption and Cash Dividends</U>. The Company shall not, and the Company shall cause each of its Subsidiaries
to not, directly or indirectly, redeem, repurchase or declare or pay any cash dividend or distribution on any of its capital stock
(other than as required by the Certificate of Designations).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Restriction on Transfer of Assets</U>. The Company shall not, and the Company shall cause each of its Subsidiaries to
not, directly or indirectly, sell, lease, license, assign, transfer, spin-off, split-off, close, convey or otherwise dispose of
any assets or rights of the Company or any Subsidiary owned or hereafter acquired whether in a single transaction or a series of
related transactions to any Person(s), other than (i) sales, leases, licenses, assignments, transfers, conveyances and other dispositions
of such assets or rights by the Company and its Subsidiaries in the ordinary course of business consistent with its past practice
and (ii) sales of inventory and product in the ordinary course of business. <U>Provided</U>, <U>however</U>, the Company may sell
Timefire, LLC, <U>an Arizona limited liability company, or all or substantially all of its assets. </U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Transactions with Affiliates</U>. The Company shall not, nor shall it permit any of its Subsidiaries to, enter into,
renew, extend or be a party to, any transaction or series of related transactions (including, without limitation, the purchase,
sale, lease, transfer or exchange of property or assets of any kind or the rendering of services of any kind) with any affiliate,
except in the ordinary course of business in a manner and to an extent consistent with past practice and necessary or desirable
for the prudent operation of its business, for fair consideration and on terms no less favorable to it or its Subsidiaries than
would be obtainable in a comparable arm&rsquo;s length transaction with a Person that is not an affiliate thereof; p<U>rovided</U>,
<U>however</U>, the Company may compensate its non employee directors for service on the Board of Directors with fair consideration
in the ordinary course of business, consistent with past practices.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Restricted Issuances</U>. The Company shall not, directly or indirectly, without the prior written consent of the Required
Holders of the Preferred Shares then outstanding, (i) issue any Preferred Shares (other than as contemplated by the Exchange Agreements
and this Certificate of Designations) or (ii) issue any other securities that would cause a breach or default under this Certificate
of Designations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>No Variable Rate Transactions.</U> So long as any Preferred Shares remain outstanding, except with the consent of the
Required Holders of the Preferred Shares, neither the Company nor any of its Subsidiaries shall directly or indirectly issue, offer,
sell, grant any option or right to purchase, or otherwise dispose of (or announce any issuance, offer, sale, grant of any option
or right to purchase or other disposition of) any equity security or any equity-linked or related security (including, without
limitation, any &ldquo;equity security&rdquo; (as that term is defined under Rule 405 promulgated under the 1933 Act), any Convertible
Securities, any debt, any preferred stock or any purchase rights) (any such issuance, offer, sale, grant, disposition or announcement
or otherwise enter into any agreement involving a Variable Rate Transaction. &ldquo;<B>Variable Rate Transaction</B>&rdquo; means
a transaction in which the Company or any Subsidiary (i) issues or sells any Convertible Securities either (A) at a conversion,
exercise 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 Convertible 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 Convertible Securities 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 pursuant to a customary &ldquo;weighted average&rdquo; anti-dilution provision or (ii) enters into any
agreement (including, without limitation, an equity line of credit or an &ldquo;at-the-market&rdquo; offering) whereby the Company
or any Subsidiary may sell securities at a future determined price (other than standard and customary &ldquo;preemptive&rdquo;
or &ldquo;participation&rdquo; rights). Each Buyer shall be entitled to obtain injunctive relief against the Company and its Subsidiaries
to preclude any such issuance, which remedy shall be in addition to any right to collect damages.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Independent Investigation</U>. At the request of any Holder either (x) at any time when a Triggering Event has occurred
and is continuing, (y) upon the occurrence of an event that with the passage of time or giving of notice would constitute a Triggering
Event or (z) at any time such Holder reasonably believes a Triggering Event may have occurred or be continuing, the Company shall
hire an independent, reputable investment bank selected by the Company and approved by such Holder to investigate as to whether
any breach of the Certificate of Designations has occurred (the &ldquo;<B>Independent Investigator</B>&rdquo;). If the Independent
Investigator determines that such breach of the Certificate of Designations has occurred, the Independent Investigator shall notify
the Company of such breach and the Company shall deliver written notice to each Holder of such breach. In connection with such
investigation, the Independent Investigator may, during normal business hours, inspect all contracts, books, records, personnel,
offices and other facilities and properties of the Company and its Subsidiaries and, to the extent available to the Company after
the Company uses reasonable efforts to obtain them, the records of its legal advisors and accountants (including the accountants&rsquo;
work papers) and any books of account, records, reports and other papers not contractually required of the Company to be confidential
or secret, or subject to attorney-client or other evidentiary privilege, and the Independent Investigator may make such copies
and inspections thereof as the Independent Investigator may reasonably request. The Company shall furnish the Independent Investigator
with such financial and operating data and other information with respect to the business and properties of the Company as the
Independent Investigator may reasonably request. The Company shall permit the Independent Investigator to discuss the affairs,
finances and accounts of the Company with, and to make proposals and furnish advice with respect thereto to, the Company&rsquo;s
officers, directors, key employees and independent public accountants or any of them (and by this provision the Company authorizes
said accountants to discuss with such Independent Investigator the finances and affairs of the Company and any Subsidiaries), all
at such reasonable times, upon reasonable notice, and as often as may be reasonably requested.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Liquidation, Dissolution, Winding-Up</U>. In the event of a Liquidation Event, the Holders shall be entitled to receive
in cash out of the assets of the Company, whether from capital or from earnings available for distribution to its shareholders
(the &ldquo;<B>Liquidation Funds</B>&rdquo;), before any amount shall be paid to the holders of any of shares of Junior Stock,
but pari passu with any Parity Stock then outstanding, an amount per Preferred Share equal to the greater of (A) 125% of the Conversion
Amount thereof on the date of such payment and (B) the amount per share such Holder would receive if such Holder converted such
Preferred Shares into Common Stock immediately prior to the date of such payment, provided that if the Liquidation Funds are insufficient
to pay the full amount due to the Holders and holders of shares of Parity Stock, then each Holder and each holder of Parity Stock
shall receive a percentage of the Liquidation Funds equal to the full amount of Liquidation Funds payable to such Holder and such
holder of Parity Stock as a liquidation preference, in accordance with their respective certificate of designations (or equivalent),
as a percentage of the full amount of Liquidation Funds payable to all holders of Preferred Shares and all holders of shares of
Parity Stock. To the extent necessary, the Company shall cause such actions to be taken by each of its Subsidiaries so as to enable,
to the maximum extent permitted by law, the proceeds of a Liquidation Event to be distributed to the Holders in accordance with
this Section 14. All the preferential amounts to be paid to the Holders under this Section 14 shall be paid or set apart for payment
before the payment or setting apart for payment of any amount for, or the distribution of any Liquidation Funds of the Company
to the holders of shares of Junior Stock in connection with a Liquidation Event as to which this Section 14 applies.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Distribution of Assets</U>. In addition to any adjustments pursuant to Section 8, if the Company shall declare or make
any dividend or other distributions of its assets (or rights to acquire its assets) to any or all holders of shares 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)
(the &ldquo;<B>Distributions</B>&rdquo;), then each Holder, as holders of Preferred Shares, will be entitled to such Distributions
as if such Holder had held the number of shares of Common Stock acquirable upon complete conversion of the Preferred Shares (without
taking into account any limitations or restrictions on the convertibility of the Preferred Shares) immediately prior to the date
on 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 such Distributions (<U>provided</U>, <U>however</U>, that to the extent that such Holder&rsquo;s
right to participate in any such Distribution would result in such Holder and the other Attribution Parties exceeding the Maximum
Percentage, then such Holder shall not be entitled to participate in such Distribution to the extent of the Maximum Percentage
(and shall not be entitled to beneficial ownership of such shares of Common Stock as a result of such Distribution (and beneficial
ownership) to the extent of any such excess) and the portion of such Distribution shall be held in abeyance for such Holder until
such time or times as its right thereto would not result in such Holder and the other Attribution Parties exceeding the Maximum
Percentage, at which time or times, if any, such Holder shall be granted such rights (and any rights under this Section 15 on such
initial rights or on any subsequent such rights to be held similarly in abeyance) to the same extent as if there had been no such
limitation).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Vote to Change the Terms of or Issue Preferred Shares</U>. In addition to any other rights provided by law, except where
the vote or written consent of the holders of a greater number of shares is required by law or by another provision of the Articles
of incorporation, without first obtaining the affirmative vote at a meeting duly called for such purpose or the written consent
without a meeting of the Required Holders, voting together as a single class, the Company shall not: (a) amend or repeal any provision
of, or add any provision to, its Articles of incorporation or bylaws, or file any certificate of designations or articles of amendment
of any series of shares of preferred stock, if such action would adversely alter or change in any respect the preferences, rights,
privileges or powers, or restrictions provided for the benefit of the Preferred Shares hereunder, regardless of whether any such
action shall be by means of amendment to the Articles of incorporation or by merger, consolidation or otherwise; (b) increase or
decrease (other than by conversion) the authorized number of Preferred Shares; (c) without limiting any provision of Section 2,
create or authorize (by reclassification or otherwise) any new class or series of Senior Preferred Stock or Parity Stock; (d) purchase,
repurchase or redeem any shares of Junior Stock (other than pursuant to the terms of the Company&rsquo;s equity incentive plans
and options and other equity awards granted under such plans (that have in good faith been approved by the Board)); (e) without
limiting any provision of Section 2, pay dividends or make any other distribution on any shares of any Junior Stock; (f) issue
any Preferred Shares other than as contemplated hereby or pursuant to the Exchange Agreements; or (g) without limiting any provision
of Section 9, whether or not prohibited by the terms of the Preferred Shares, circumvent a right of the Preferred Shares hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Transfer of Preferred Shares</U>. A Holder may transfer some or all of its Preferred Shares without the consent of the
Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Reissuance of Preferred Share Certificates and Book Entries</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Transfer</U>. If any Preferred Shares are to be transferred, the applicable Holder shall surrender the applicable Preferred
Share Certificate to the Company (or, if the Preferred Shares are held in Book-Entry form, a written instruction letter to the
Company), whereupon the Company will forthwith issue and deliver upon the order of such Holder a new Preferred Share Certificate
(in accordance with Section 18(d)) (or evidence of the transfer of such Book-Entry), registered as such Holder may request, representing
the outstanding number of Preferred Shares being transferred by such Holder and, if less than the entire outstanding number of
Preferred Shares is being transferred, a new Preferred Share Certificate (in accordance with Section 18(d)) to such Holder representing
the outstanding number of Preferred Shares not being transferred (or evidence of such remaining Preferred Shares in a Book-Entry
for such Holder). Such Holder and any assignee, by acceptance of the Preferred Share Certificate or evidence of Book-Entry issuance,
as applicable, acknowledge and agree that, by reason of the provisions of Section 4(c)(i) following conversion or redemption of
any of the Preferred Shares, the outstanding number of Preferred Shares represented by the Preferred Shares may be less than the
number of Preferred Shares stated on the face of the Preferred Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Lost, Stolen or Mutilated Preferred Share Certificate</U>. Upon receipt by the Company of evidence reasonably satisfactory
to the Company of the loss, theft, destruction or mutilation of a Preferred Share Certificate (as to which a written certification
and the indemnification contemplated below shall suffice as such evidence), and, in the case of loss, theft or destruction, of
any indemnification undertaking by the applicable Holder to the Company in customary and reasonable form and, in the case of mutilation,
upon surrender and cancellation of such Preferred Share Certificate, the Company shall execute and deliver to such Holder a new
Preferred Share Certificate (in accordance with Section 18(d)) representing the applicable outstanding number of Preferred Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Preferred Share Certificate and Book-Entries Exchangeable for Different Denominations and Forms</U>. Each Preferred Share
Certificate is exchangeable, upon the surrender hereof by the applicable Holder at the principal office of the Company, for a new
Preferred Share Certificate or Preferred Share Certificate(s) or new Book-Entry (in accordance with Section 18(d)) representing,
in the aggregate, the outstanding number of the Preferred Shares in the original Preferred Share Certificate, and each such new
Preferred Share Certificate and/or new Book-Entry, as applicable, will represent such portion of such outstanding number of Preferred
Shares from the original Preferred Share Certificate as is designated in writing by such Holder at the time of such surrender.
Each Book-Entry may be exchanged into one or more new Preferred Share Certificates or split by the applicable Holder by delivery
of a written notice to the Company into two or more new Book-Entries (in accordance with Section 18(d)) representing, in the aggregate,
the outstanding number of the Preferred Shares in the original Book-Entry, and each such new Book-Entry and/or new Preferred Share
Certificate, as applicable, will represent such portion of such outstanding number of Preferred Shares from the original Book-Entry
as is designated in writing by such Holder at the time of such surrender.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Issuance of New Preferred Share Certificate or Book-Entry</U>. Whenever the Company is required to issue a new Preferred
Share Certificate or a new Book-Entry pursuant to the terms of this Certificate of Designations, such new Preferred Share Certificate
or new Book-Entry (i) shall represent, as indicated on the face of such Preferred Share Certificate or in such Book-Entry, as applicable,
the number of Preferred Shares remaining outstanding (or in the case of a new Preferred Share Certificate or new Book-Entry being
issued pursuant to Section 18(a) or Section 18(c), the number of Preferred Shares designated by such Holder) which, when added
to the number of Preferred Shares represented by the other new Preferred Share Certificates or other new Book-Entry, as applicable,
issued in connection with such issuance, does not exceed the number of Preferred Shares remaining outstanding under the original
Preferred Share Certificate or original Book-Entry, as applicable, immediately prior to such issuance of new Preferred Share Certificate
or new Book-Entry, as applicable, and (ii) shall have an issuance date, as indicated on the face of such new Preferred Share Certificate
or in such new Book-Entry, as applicable, which is the same as the issuance date of the original Preferred Share Certificate or
in such original Book-Entry, as applicable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief.</U> The remedies provided in this Certificate
of Designations shall be cumulative and in addition to all other remedies available under this Certificate of Designations and
any of the other Transaction Documents, at law or in equity (including a decree of specific performance and/or other injunctive
relief), and nothing herein shall limit any Holder&rsquo;s right to pursue actual and consequential damages for any failure by
the Company to comply with the terms of this Certificate of Designations. The Company covenants to each Holder that there shall
be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein
with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by a Holder
and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof).
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holders and that the
remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened
breach, each Holder shall be entitled, in addition to all other available remedies, to specific performance and/or temporary, preliminary
and permanent injunctive or other equitable relief from any court of competent jurisdiction in any such case without the necessity
of proving actual damages and without posting a bond or other security. The Company shall provide all information and documentation
to a Holder that is requested by such Holder to enable such Holder to confirm the Company&rsquo;s compliance with the terms and
conditions of this Certificate of Designations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">20.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Payment of Collection, Enforcement and Other Costs</U>. If (a) any Preferred Shares are placed in the hands of an attorney
for collection or enforcement or is collected or enforced through any legal proceeding or a Holder otherwise takes action to collect
amounts due under this Certificate of Designations with respect to the Preferred Shares or to enforce the provisions of this Certificate
of Designations or (b) there occurs any bankruptcy, reorganization, receivership of the Company or other proceedings affecting
creditors&rsquo; rights and involving a claim under this Certificate of Designations, then the Company shall pay the costs incurred
by such Holder for such collection, enforcement or action or in connection with such bankruptcy, reorganization, receivership or
other proceeding, including, without limitation, attorneys&rsquo; fees and disbursements. The Company expressly acknowledges and
agrees that no amounts due under this Certificate of Designations shall be affected, or limited, by the fact that the purchase
price paid for the Preferred Shares was less than the original aggregate Stated Value thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">21.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Construction; Headings</U>. This Certificate of Designations shall be deemed to be jointly drafted by the Company and
the Holders and shall not be construed against any such Person as the drafter hereof. The headings of this Certificate of Designations
are for convenience of reference and shall not form part of, or affect the interpretation of, this Certificate of Designations.
Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to include the masculine, feminine, neuter,
singular and plural forms thereof. The terms &ldquo;including,&rdquo; &ldquo;includes,&rdquo; &ldquo;include&rdquo; and words of
like import shall be construed broadly as if followed by the words &ldquo;without limitation.&rdquo; The terms &ldquo;herein,&rdquo;
&ldquo;hereunder,&rdquo; &ldquo;hereof&rdquo; and words of like import refer to this entire Certificate of Designations instead
of just the provision in which they are found. Unless expressly indicated otherwise, all section references are to sections of
this Certificate of Designations. Terms used in this Certificate of Designations and not otherwise defined herein, but defined
in the other Transaction Documents, shall have the meanings ascribed to such terms on the Initial Issuance Date in such other Transaction
Documents unless otherwise consented to in writing by the Required Holders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">22.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Failure or Indulgence Not Waiver</U>. No failure or delay on the part of a Holder in the exercise of any power, right
or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof or of any other right, power or privilege. No waiver shall be effective unless
it is in writing and signed by an authorized representative of the waiving party. This Certificate of Designations shall be deemed
to be jointly drafted by the Company and all Holders and shall not be construed against any Person as the drafter hereof. Notwithstanding
the foregoing, nothing contained in this Section 22 shall permit any waiver of any provision of Section 4(d).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">23.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Dispute Resolution</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Submission to Dispute Resolution.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(i)   In
the case of a dispute relating to a Closing Bid Price, a Closing Sale Price, a Conversion Price, Triggering Event Conversion Price,
a VWAP or a fair market value or the arithmetic calculation of a Conversion Rate, or the applicable Redemption Price (as the case
may be) (including, without limitation, a dispute relating to the determination of any of the foregoing), the Company or the applicable
Holder (as the case may be) shall submit the dispute to the other party via facsimile or electronic mail (A) if by the Company,
within two (2) Business Days after the occurrence of the circumstances giving rise to such dispute or (B) if by such Holder at
any time after such Holder learned of the circumstances giving rise to such dispute. If such Holder and the Company are unable
to promptly resolve such dispute relating to such Closing Bid Price, such Closing Sale Price, such Conversion Price, such Triggering
Event Conversion Price, such VWAP or such fair market value, or the arithmetic calculation of such Conversion Rate or such applicable
Redemption Price (as the case may be), at any time after the second (2<SUP>nd</SUP>) Business Day following such initial notice
by the Company or such Holder (as the case may be) of such dispute to the Company or such Holder (as the case may be), then such
Holder may, at its sole option, select an independent, reputable investment bank to resolve such dispute.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ii) Such Holder
and the Company shall each deliver to such investment bank (A) a copy of the initial dispute submission so delivered in accordance
with the first sentence of this Section 23 and (B) written documentation supporting its position with respect to such dispute,
in each case, no later than 5:00 p.m. (New York time) by the fifth (5<SUP>th</SUP>) Business Day immediately following the date
on which such Holder selected such investment bank (the &ldquo;<B>Dispute Submission Deadline</B>&rdquo;) (the documents referred
to in the immediately preceding clauses (A) and (B) are collectively referred to herein as the &ldquo;<B>Required Dispute Documentation</B>&rdquo;)
(it being understood and agreed that if either such Holder or the Company fails to so deliver all of the Required Dispute Documentation
by the Dispute Submission Deadline, then the party who fails to so submit all of the Required Dispute Documentation shall no longer
be entitled to (and hereby waives its right to) deliver or submit any written documentation or other support to such investment
bank with respect to such dispute and such investment bank shall resolve such dispute based solely on the Required Dispute Documentation
that was delivered to such investment bank prior to the Dispute Submission Deadline). Unless otherwise agreed to in writing by
both the Company and such Holder or otherwise requested by such investment bank, neither the Company nor such Holder shall be entitled
to deliver or submit any written documentation or other support to such investment bank in connection with such dispute (other
than the Required Dispute Documentation).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(iii) The Company
and such Holder shall cause such investment bank to determine the resolution of such dispute and notify the Company and such Holder
of such resolution no later than ten (10) Business Days immediately following the Dispute Submission Deadline. The fees and expenses
of such investment bank shall be borne solely by the Company, and such investment bank&rsquo;s resolution of such dispute shall
be final and binding upon all parties absent manifest error.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Miscellaneous</U>. The Company expressly acknowledges and agrees that (i) this Section 23 constitutes an agreement to
arbitrate between the Company and each Holder (and constitutes an arbitration agreement) under &sect; 7501, et seq. of the New
York Civil Practice Law and Rules (&ldquo;<B>CPLR</B>&rdquo;) and that any Holder is authorized to apply for an order to compel
arbitration pursuant to CPLR &sect; 7503(a) in order to compel compliance with this Section 23, (ii) the terms of this Certificate
of Designations and each other applicable Transaction Document shall serve as the basis for the selected investment bank&rsquo;s
resolution of the applicable dispute, such investment bank shall be entitled (and is hereby expressly authorized) to make all findings,
determinations and the like that such investment bank determines are required to be made by such investment bank in connection
with its resolution of such dispute and in resolving such dispute such investment bank shall apply such findings, determinations
and the like to the terms of this Certificate of Designations and any other applicable Transaction Documents, (iii) the applicable
Holder (and only such Holder with respect to disputes solely relating to such Holder), in its sole discretion, shall have the right
to submit any dispute described in this Section 23 to any state or federal court sitting in The City of New York, Borough of Manhattan
in lieu of utilizing the procedures set forth in this Section 23 and (iv) nothing in this Section 23 shall limit such Holder from
obtaining any injunctive relief or other equitable remedies (including, without limitation, with respect to any matters described
in this Section 23).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">24.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Notices; Currency; Payments</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Notices</U>. The Company shall provide each Holder of Preferred Shares with prompt written notice of all actions taken
pursuant to the terms of this Certificate of Designations, including in reasonable detail a description of such action and the
reason therefor. Whenever notice is required to be given under this Certificate of Designations, unless otherwise provided herein,
such notice must be in writing and shall be given in accordance with the Exchange Agreements. The Company shall provide each Holder
with prompt written notice of all actions taken pursuant to this Certificate of Designations, including in reasonable detail a
description of such action and the reason therefore. Without limiting the generality of the foregoing, the Company shall give written
notice to each Holder (i) immediately upon any adjustment of the Conversion Price, setting forth in reasonable detail, and certifying,
the calculation of such adjustment and (ii) at least fifteen (15) days prior to the date on which the Company closes its books
or takes a record (A) with respect to any dividend or distribution upon the Common Stock, or (B) for determining rights to vote
with respect to any Fundamental Transaction, dissolution or liquidation, provided in each case that such information shall be made
known to the public prior to or in conjunction with such notice being provided to such Holder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Currency</U>. All dollar amounts referred to in this Certificate of Designations are in United States Dollars (&ldquo;<B>U.S.
Dollars</B>&rdquo;), and all amounts owing under this Certificate of Designations shall be paid in U.S. Dollars. All amounts denominated
in other currencies (if any) shall be converted into the U.S. Dollar equivalent amount in accordance with the Exchange Rate on
the date of calculation. &ldquo;<B>Exchange Rate</B>&rdquo; means, in relation to any amount of currency to be converted into U.S.
Dollars pursuant to this Certificate of Designations, the U.S. Dollar exchange rate as published in the Wall Street Journal on
the relevant date of calculation (it being understood and agreed that where an amount is calculated with reference to, or over,
a period of time, the date of calculation shall be the final date of such period of time).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Payments</U>. Whenever any payment of cash is to be made by the Company to any Person pursuant to this Certificate of
Designations, unless otherwise expressly set forth herein, such payment shall be made in lawful money of the United States of America
by wire transfer of immediately available funds pursuant to wire transfer instructions that Holder shall provide to the Company
in writing from time to time. Whenever any amount expressed to be due by the terms of this Certificate of Designations is due on
any day which is not a Business Day, the same shall instead be due on the next succeeding day which is a Business Day. Any amount
due under the Transaction Documents which is not paid when due shall result in a late charge being incurred and payable by the
Company in an amount equal to interest on such amount at the rate of eighteen percent (18%) per annum from the date such amount
was due until the same is paid in full (&ldquo;<B>Late Charge</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">25.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Waiver of Notice</U>. To the extent permitted by law, the Company hereby irrevocably waives demand, notice, presentment,
protest and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this
Certificate of Designations and the Exchange Agreements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">26.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Governing Law</U>. This Certificate of Designations shall be construed and enforced in accordance with, and all questions
concerning the construction, validity, interpretation and performance of this Certificate of Designations shall be governed by,
the internal laws of the State of Nevada, without giving effect to any choice of law or conflict of law provision or rule (whether
of the State of Nevada or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than
the State of Delaware. Except as otherwise required by Section 23 above, the Company 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 brought in an inconvenient forum or that the venue of such suit, action
or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner
permitted by law. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted
by law. Nothing contained herein (i) shall be deemed or operate to preclude any Holder from bringing suit or taking other legal
action against the Company in any other jurisdiction to collect on the Company&rsquo;s obligations to such Holder, to realize on
any collateral or any other security for such obligations, or to enforce a judgment or other court ruling in favor of such Holder
or (ii) shall limit, or shall be deemed or construed to limit, any provision of Section 23 above. <B>THE COMPANY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH OR ARISING OUT OF THIS CERTIFICATE OF DESIGNATIONS OR ANY TRANSACTION CONTEMPLATED HEREBY.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">27.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Judgment Currency</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>If for the purpose of obtaining or enforcing judgment against the Company in any court in any jurisdiction it becomes necessary
to convert into any other currency (such other currency being hereinafter in this Section 27 referred to as the &ldquo;<B>Judgment
Currency</B>&rdquo;) an amount due in U.S. dollars under this Certificate of Designations, the conversion shall be made at the
Exchange Rate prevailing on the Trading Day immediately preceding:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(i) the date
actual payment of the amount due, in the case of any proceeding in the courts of New York or in the courts of any other jurisdiction
that will give effect to such conversion being made on such date: or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ii) the date
on which the foreign court determines, in the case of any proceeding in the courts of any other jurisdiction (the date as of which
such conversion is made pursuant to this Section 27(a)(ii) being hereinafter referred to as the &ldquo;<B>Judgment Conversion Date</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>If in the case of any proceeding in the court of any jurisdiction referred to in Section 27(a)(ii) above, there is a change
in the Exchange Rate prevailing between the Judgment Conversion Date and the date of actual payment of the amount due, the applicable
party shall pay such adjusted amount as may be necessary to ensure that the amount paid in the Judgment Currency, when converted
at the Exchange Rate prevailing on the date of payment, will produce the amount of US dollars which could have been purchased with
the amount of Judgment Currency stipulated in the judgment or judicial order at the Exchange Rate prevailing on the Judgment Conversion
Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Any amount due from the Company under this provision shall be due as a separate debt and shall not be affected by judgment
being obtained for any other amounts due under or in respect of this Certificate of Designations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">28.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Severability</U>. If any provision of this Certificate of Designations is prohibited by law or otherwise determined to
be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or
unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity
or unenforceability of such provision shall not affect the validity of the remaining provisions of this Certificate of Designations
so long as this Certificate of Designations as so modified continues to express, without material change, the original intentions
of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in
question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization
of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace
the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible
to that of the prohibited, invalid or unenforceable provision(s).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">29.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Maximum Payments</U>. Nothing contained herein shall be deemed to establish or require the payment of a rate of interest
or other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid
or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against
amounts owed by the Company to the applicable Holder and thus refunded to the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">30.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Shareholder Matters; Amendment</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Shareholder Matters</U>. Any shareholder action, approval or consent required, desired or otherwise sought by the Company
pursuant to the NRS, the Articles of incorporation, this Certificate of Designations or otherwise with respect to the issuance
of Preferred Shares may be effected by written consent of the Company&rsquo;s shareholders or at a duly called meeting of the Company&rsquo;s
shareholders, all in accordance with the applicable rules and regulations of the NRS. This provision is intended to comply with
the applicable sections of the NRS permitting shareholder action, approval and consent affected by written consent in lieu of a
meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Amendment</U>. This Certificate of Designations or any provision hereof may be amended by obtaining the affirmative vote
at a meeting duly called for such purpose, or written consent without a meeting in accordance with the NRS, of the Required Holders,
voting separate as a single class, and with such other shareholder approval, if any, as may then be required pursuant to the NRS
and the Articles of incorporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">31.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Certain Defined Terms</U>. For purposes of this Certificate of Designations, the following terms shall have the following
meanings:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>1933 Act</B>&rdquo; means the Securities Act of 1933, as amended, and the rules and regulations thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> &ldquo;<B>1934 Act</B>&rdquo; means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Additional Amount</B>&rdquo; means, as of the applicable date of determination, with respect to each Preferred
Share, all declared and unpaid Dividends on such Preferred Share.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> &ldquo;<B>Affiliate</B>&rdquo; or &ldquo;<B>Affiliated</B>&rdquo; means, with respect to any Person, any other Person that
directly or indirectly controls, is controlled by, or is under common control with, such Person, it being understood for purposes
of this definition that &ldquo;control&rdquo; of a Person means the power directly or indirectly either to vote 10% or more of
the stock having ordinary voting power for the election of directors of such Person or direct or cause the direction of the management
and policies of such Person whether by contract or otherwise.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Attribution Parties</B>&rdquo; means, collectively, the following Persons and entities: (i) any investment vehicle,
including, any funds, feeder funds or managed accounts, currently, or from time to time after the Initial Issuance Date, directly
or indirectly managed or advised by a Holder&rsquo;s investment manager or any of its Affiliates or principals, (ii) any direct
or indirect Affiliates of such Holder or any of the foregoing, (iii) any Person acting or who could be deemed to be acting as a
Group together with such Holder or any of the foregoing and (iv) any other Persons whose beneficial ownership of the Company&rsquo;s
Common Stock would or could be aggregated with such Holder&rsquo;s and the other Attribution Parties for purposes of Section 13(d)
of the 1934 Act. For clarity, the purpose of the foregoing is to subject collectively such Holder and all other Attribution Parties
to the Maximum Percentage.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Bloomberg</B>&rdquo; means Bloomberg, L.P.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Book-Entry</B>&rdquo; means each entry on the Register evidencing one or more Preferred Shares held by a Holder
in lieu of a Preferred Share Certificate issuable hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Business Day</B>&rdquo; 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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> &ldquo;<B>Change of Control</B>&rdquo; means any Fundamental Transaction other than (i) any merger of the Company or any
of its, direct or indirect, wholly-owned Subsidiaries with or into any of the foregoing Persons, (ii) any reorganization, recapitalization
or reclassification of the shares of Common Stock in which holders of the Company&rsquo;s voting power immediately prior to such
reorganization, recapitalization or reclassification continue after such reorganization, recapitalization or reclassification to
hold publicly traded securities and, directly or indirectly, are, in all material respects, the holders of the voting power of
the surviving entity (or entities with the authority or voting power to elect the members of the board of directors (or their equivalent
if other than a corporation) of such entity or entities) after such reorganization, recapitalization or reclassification or (iii)
pursuant to a migratory merger effected solely for the purpose of changing the jurisdiction of incorporation of the Company or
any of its Subsidiaries; provided, however,(x) the sale of Timefire, LLC, an Arizona limited liability company, or of all or substantially
all of its assets shall not be deemed to be a Change of Control, (y) the granting of voting proxies to the Board of Directors of
the Company to effect any such sale shall not be deemed to be a Change of Control and (z) the issuance of voting proxies in favor
of the Company&rsquo;s Board of Directors to effect such sale shall not be a Change of Control.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Change of Control Redemption Premium</B>&rdquo; means 125%.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(k) &ldquo;<B>Closing
Bid Price</B>&rdquo; and &ldquo;<B>Closing Sale Price</B>&rdquo; means, for any security as of any date, the last closing bid
price and last closing trade price, respectively, for such security on the Principal Market, as reported by Bloomberg, or, if
the Principal Market begins to operate on an extended hours basis and does not designate the closing bid price or the closing
trade price (as the case may be) then the last bid price or last trade price, respectively, of such security prior to 4:00:00
p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading
market for such security, the last closing bid price or last trade price, respectively, of such security on the principal securities
exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do not apply,
the last closing bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic
bulletin board for such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported
for such security by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such
security as reported in the &ldquo;pink sheets&rdquo; by OTC Markets Group Inc. (formerly Pink Sheets LLC). If the Closing Bid
Price or the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing
Bid Price or the Closing Sale Price (as the case may be) of such security on such date shall be the fair market value as mutually
determined by the Company and the Required Holder. If the Company and the Required Holders are unable to agree upon the fair market
value of such security, then such dispute shall be resolved in accordance with the procedures in Section 23. All such determinations
shall be appropriately adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar
transactions during such period.&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> &ldquo;<B>Common Stock</B>&rdquo; means (i)&nbsp;the Company&rsquo;s shares of common stock, $0.01 par value per share,
and (ii) any capital stock into which such common stock shall have been changed or any share capital resulting from a reclassification
of such common stock.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  &nbsp;
</FONT>&ldquo;<B>Contingent Obligation</B>&rdquo; means, as to any Person, any direct or indirect liability, contingent or otherwise,
of that Person with respect to any Indebtedness, lease, dividend or other obligation of another Person if the primary purpose or
intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of such liability
that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders
of such liability will be protected (in whole or in part) against loss with respect thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Convertible Securities</B>&rdquo; means any stock or other security (other than Options) that is at any time and
under any circumstances, directly or indirectly, convertible into, exercisable or exchangeable for, or which otherwise entitles
the holder thereof to acquire, any shares of Common Stock.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Current Subsidiary</B>&rdquo; means any Person in which the Company on the Exchange Date, directly or indirectly,
(i) owns any of the outstanding capital stock or holds any equity or similar interest of such Person or (ii) controls or operates
all or any part of the business, operations or administration of such Person, and all of the foregoing, collectively, &ldquo;<B>Current
Subsidiaries</B>&rdquo;.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Eligible Market</B>&rdquo; means The New York Stock Exchange, the NYSE American, the Nasdaq Stock Market or the
Principal Market.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Exchange Agreements</B>&rdquo; means those certain exchange agreements, each by and among the Company and a holder
of existing securities of the Company, dated as of the Exchange Date, pursuant to which the Company issues the Preferred Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Exchange Date</B>&rdquo; shall have the meaning set forth in the Exchange Agreements, which date is the date the
Company initially issued the Preferred Shares pursuant to the terms of the Exchange Agreements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(s)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> &ldquo;<B>Fundamental Transaction</B>&rdquo; means (A) that the Company shall, directly or indirectly, including through
subsidiaries, Affiliates or otherwise, in one or more related transactions, (i) consolidate or merge with or into (whether or not
the Company is the surviving corporation) another Subject Entity, or (ii) sell, assign, transfer, convey or otherwise dispose of
all or substantially all of the properties or assets of the Company or any of its &ldquo;significant subsidiaries&rdquo; (as defined
in Rule 1-02 of Regulation S-X) to one or more Subject Entities, or (iii) make, or allow one or more Subject Entities to make,
or allow the Company to be subject to or have its Common Stock be subject to or party to one or more Subject Entities making, a
purchase, tender or exchange offer that is accepted by the holders of at least either (x) 50% of the outstanding shares of Common
Stock, (y) 50% of the outstanding shares of Common Stock calculated as if any shares of Common Stock held by all Subject Entities
making or party to, or Affiliated with any Subject Entities making or party to, such purchase, tender or exchange offer were not
outstanding; or (z) such number of shares of Common Stock such that all Subject Entities making or party to, or Affiliated with
any Subject Entity making or party to, such purchase, tender or exchange offer, become collectively the beneficial owners (as defined
in Rule 13d-3 under the 1934 Act) of at least 50% of the outstanding shares of Common Stock, or (iv) consummate a stock or share
purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or
scheme of arrangement) with one or more Subject Entities whereby all such Subject Entities, individually or in the aggregate, acquire,
either (x) at least 50% of the outstanding shares of Common Stock, (y) at least 50% of the outstanding shares of Common Stock calculated
as if any shares of Common Stock held by all the Subject Entities making or party to, or Affiliated with any Subject Entity making
or party to, such stock purchase agreement or other business combination were not outstanding; or (z) such number of shares of
Common Stock such that the Subject Entities become collectively the beneficial owners (as defined in Rule 13d-3 under the 1934
Act) of at least 50% of the outstanding shares of Common Stock, or (v) reorganize, recapitalize or reclassify its Common Stock,
(B) that the Company shall, directly or indirectly, including through subsidiaries, Affiliates or otherwise, in one or more related
transactions, allow any Subject Entity individually or the Subject Entities in the aggregate to be or become the &ldquo;beneficial
owner&rdquo; (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, whether through acquisition, purchase, assignment,
conveyance, tender, tender offer, exchange, reduction in outstanding shares of Common Stock, merger, consolidation, business combination,
reorganization, recapitalization, spin-off, scheme of arrangement, reorganization, recapitalization or reclassification or otherwise
in any manner whatsoever, of either (x) at least 50% of the aggregate ordinary voting power represented by issued and outstanding
Common Stock, (y) at least 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock not held
by all such Subject Entities as of the date of this Certificate of Designations calculated as if any shares of Common Stock held
by all such Subject Entities were not outstanding, or (z) a percentage of the aggregate ordinary voting power represented by issued
and outstanding shares of Common Stock or other equity securities of the Company sufficient to allow such Subject Entities to effect
a statutory short form merger or other transaction requiring other shareholders of the Company to surrender their shares of Common
Stock without approval of the shareholders of the Company or (C) directly or indirectly, including through subsidiaries, Affiliates
or otherwise, in one or more related transactions, the issuance of or the entering into any other instrument or transaction structured
in a manner to circumvent, or that circumvents, the intent of this definition in which case this definition shall be construed
and implemented in a manner otherwise than in strict conformity with the terms of this definition to the extent necessary to correct
this definition or any portion of this definition which may be defective or inconsistent with the intended treatment of such instrument
or transaction.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(t)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>GAAP</B>&rdquo; means United States generally accepted accounting principles, consistently applied.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(u)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Group</B>&rdquo; means a &ldquo;group&rdquo; as that term is used in Section 13(d) of the 1934 Act and as defined
in Rule 13d-5 thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> &ldquo;<B>Indebtedness</B>&rdquo; means of any Person means, without duplication (A) all indebtedness for borrowed money,
(B) all obligations issued, undertaken or assumed as the deferred purchase price of property or services, including, without limitation,
&ldquo;capital leases&rdquo; in accordance with United States generally accepted accounting principles consistently applied for
the periods covered thereby (other than trade payables entered into in the ordinary course of business consistent with past practice),
(C) all reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments, (D)
all obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced incurred in connection
with the acquisition of property, assets or businesses, (E) all indebtedness created or arising under any conditional sale or other
title retention agreement, or incurred as financing, in either case with respect to any property or assets acquired with the proceeds
of such indebtedness (even though the rights and remedies of the seller or bank under such agreement in the event of default are
limited to repossession or sale of such property), (F) all monetary obligations under any leasing or similar arrangement which,
in connection with United States generally accepted accounting principles, consistently applied for the periods covered thereby,
is classified as a capital lease, (G) all indebtedness referred to in clauses (A) through (F) above secured by (or for which the
holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any mortgage, deed of trust, lien,
pledge, charge, security interest or other encumbrance of any nature whatsoever in or upon any property or assets (including accounts
and contract rights) with respect to any asset or property owned by any Person, even though the Person which owns such assets or
property has not assumed or become liable for the payment of such indebtedness, and (H) all Contingent Obligations in respect of
indebtedness or obligations of others of the kinds referred to in clauses (A) through (G) above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(w)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  &nbsp;
</FONT>&ldquo;<B>Liquidation Event</B>&rdquo; means, whether in a single transaction or series of transactions, the voluntary or
involuntary liquidation, dissolution or winding up of the Company or such Subsidiaries the assets of which constitute all or substantially
all of the assets of the business of the Company and its Subsidiaries, taken as a whole.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Material Adverse Effect</B>&rdquo; means any material adverse effect on the business, properties, assets, liabilities,
operations, results of operations, condition (financial or otherwise) or prospects of the Company and its Subsidiaries, if any,
individually or taken as a whole, or on the transactions contemplated hereby or on the other Transaction Documents (as defined
below), or by the agreements and instruments to be entered into in connection therewith or on the authority or ability of the Company
to perform its obligations under the Transaction Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(y)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>New Subsidiary</B>&rdquo; means, as of any date of determination, any Person in which the Company after the Exchange
Date, directly or indirectly, (i) owns or acquires any of the outstanding capital stock or holds any equity or similar interest
of such Person or (ii) controls or operates all or any part of the business, operations or administration of such Person, and all
of the foregoing, collectively, &ldquo;<B>New Subsidiaries</B>.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(z)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> &ldquo;<B>Options</B>&rdquo; means any rights, warrants or options to subscribe for or purchase shares of Common Stock
or Convertible Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(aa)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Parent Entity</B>&rdquo; of a Person means an entity that, directly or indirectly, controls the applicable Person
and whose common stock or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such
Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of consummation
of the Fundamental Transaction.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(bb)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Person</B>&rdquo; means an individual, a limited liability company, a partnership, a joint venture, a corporation,
a trust, an unincorporated organization, any other entity or a government or any department or agency thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(cc)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Principal Market</B>&rdquo; means the OTCQB or other trading market operated by OTC Markets (or any successor)
unless the Company elects to list its Common Stock on an Eligible Market.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(dd)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Redemption Notices</B>&rdquo; means, collectively, the Triggering Events Redemption Notices and the Change of
Control Redemption Notices, and each of the foregoing, individually, a &ldquo;<B>Redemption Notice</B>.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ee)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Redemption Premium</B>&rdquo; means 125%.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ff)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  &nbsp;
</FONT>&ldquo;<B>Redemption Prices</B>&rdquo; means, collectively, Triggering Event Redemption Prices and the Change of Control
Redemption Prices, and each of the foregoing, individually, a &ldquo;<B>Redemption Price</B>.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(gg)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>SEC</B>&rdquo; means the United States Securities and Exchange Commission or the successor thereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(hh)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> &ldquo;<B>Stated Value</B>&rdquo; shall mean $1,000 per share, subject to adjustment for stock splits, stock dividends,
recapitalizations, reorganizations, reclassifications, combinations, subdivisions or other similar events occurring after the Initial
Issuance Date with respect to the Preferred Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT> <B>&ldquo;Subject Entity</B>&rdquo; means any Person, Persons or Group or any Affiliate or associate of any such Person,
Persons or Group.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(jj)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Subsidiaries</B>&rdquo; means, as of any date of determination, collectively, all Current Subsidiaries and all
New Subsidiaries, and each of the foregoing, individually, a &ldquo;<B>Subsidiary</B>.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(kk)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Successor Entity</B>&rdquo; means the Person (or, if so elected by the Required Holders, the Parent Entity) formed
by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Required Holders, the Parent
Entity) with which such Fundamental Transaction shall have been entered into.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ll)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Trading Day</B>&rdquo; means, as applicable, (x) with respect to all price or trading volume determinations relating
to the Common Stock, any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the
principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common
Stock is then traded, provided that &ldquo;Trading Day&rdquo; shall not include any day on which the Common Stock is scheduled
to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the
final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time
of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York time) unless such day is otherwise
designated as a Trading Day in writing by the Holder or (y) with respect to all determinations other than price determinations
relating to the Common Stock, any day on which The New York Stock Exchange (or any successor thereto) is open for trading of securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(mm)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Transaction Documents</B>&rdquo; means the Exchange Agreements, this Certificate of Designations and each of the
other agreements and instruments entered into or delivered by the Company or any of the Holders in connection with the transactions
contemplated by the Exchange Agreements, all as may be amended from time to time in accordance with the terms thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(kk)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Triggering Event Conversion Price</B>&rdquo; means, with respect to any Triggering Event Conversion that price
which shall be the lower of (i) the applicable Conversion Price as in effect on the Trading Day immediately preceding the time
of the delivery or deemed delivery of the applicable Conversion Notice, and (ii) 75% of the lowest VWAP of the Common Stock on
any Trading Day during the five (5) consecutive Trading Day period ending and including the Trading Day immediately preceding the
delivery or deemed delivery of the applicable Conversion Notice (as adjusted for any share dividend, share split, share combination,
reclassification or similar transaction that proportionately decreases or increases the Common Stock during such period).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(oo)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>VWAP</B>&rdquo; means, for any security as of any date, the dollar volume-weighted average price for such security
on the Principal Market (or, if the Principal Market is not the principal trading market for such security, then on the principal
securities exchange or securities market on which such security is then traded) during the period beginning at 9:30:01 a.m., New
York time, and ending at 4:00:00 p.m., New York time, as reported by Bloomberg through its &ldquo;HP&rdquo; function (set to weighted
average) or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter
market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time, and ending
at 4:00:00 p.m., New York time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security
by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market
makers for such security as reported in the &ldquo;pink sheets&rdquo; by OTC Markets Group Inc. (formerly Pink Sheets LLC). If
the VWAP cannot be calculated for such security on such date on any of the foregoing bases, the VWAP of such security on such date
shall be the fair market value as mutually determined by the Company and the Required Holders. If the Company and the Required
Holders are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance with
the procedures in Section 23. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock
combination, recapitalization or other similar transaction during such period.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">32.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Disclosure</U>. Upon receipt or delivery by the Company of any notice in accordance with the terms of this Certificate
of Designations, unless the Company has in good faith determined that the matters relating to such notice do not constitute material,
non-public information relating to the Company or any of its Subsidiaries, the Company shall within one (1) Business Day after
any such receipt or delivery publicly disclose such material, non-public information on a Current Report on Form 8-K or otherwise.
In the event that the Company believes that a notice contains material, non-public information relating to the Company or any of
its Subsidiaries, the Company so shall indicate to such Holder contemporaneously with delivery of such notice, and in the absence
of any such indication, such Holder shall be allowed to presume that all matters relating to such notice do not constitute material,
non-public information relating to the Company or any of its Subsidiaries. If the Company or any of its Subsidiaries provides material
non-public information to a Holder that is not simultaneously filed in a Current Report on Form 8-K and such Holder has not agreed
to receive such material non-public information, the Company hereby covenants and agrees that such Holder 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 with respect to, or a duty to any of the foregoing not to trade on the basis of, such material non-public information.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.25in">* * * * *</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
Company has caused this Certificate of Designations of Series E Convertible Preferred Stock of TimeFireVR Inc. to be signed by
its Chief Executive Officer on this 2nd day of January, 2018.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>



<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif; width: 100%">TIMEFIREVR INC.</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">By: &nbsp;&nbsp;__________________________</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">Name:&nbsp;&nbsp;Jonathan Read</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">Title:&nbsp;&nbsp;Chief Executive Officer</TD></TR>
</TABLE><BR STYLE="clear: both">


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT I</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TIMEFIREVR INC.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>CONVERSION NOTICE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is made
to the Certificate of Designations, Preferences and Rights of the Series E Convertible Preferred Stock of TimeFireVR Inc. (the
&ldquo;<B>Certificate of Designations</B>&rdquo;). In accordance with and pursuant to the Certificate of Designations, the undersigned
hereby elects to convert the number of shares of Series E Convertible Preferred Stock, $0.01 par value per share (the &ldquo;<B>Preferred
Shares</B>&rdquo;), of TimeFireVR Inc. a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), indicated below into shares of
common stock, $0.01 value per share (the &ldquo;<B>Common Stock</B>&rdquo;), of the Company, as of the date specified below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-top: 12pt; padding-left: 0.5in">Date of Conversion:</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 12pt; padding-left: 0.75in; text-align: justify">Aggregate number of Preferred Shares to be converted</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 12pt; padding-left: 0.75in; text-align: justify">Aggregate Stated Value of such Preferred Shares to be converted:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 12pt; padding-left: 0.75in; text-align: justify">Aggregate accrued and unpaid Dividends and accrued and unpaid Late Charges with respect to such Preferred Shares and such Aggregate Dividends to be converted:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 12pt; padding-left: 0.5in">AGGREGATE CONVERSION AMOUNT TO BE CONVERTED:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Please confirm the following information:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-top: 12pt; padding-left: 0.5in; text-align: justify">Conversion Price:</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-top: 12pt; padding-left: 0.5in; text-align: justify">Number of shares of Common Stock to be issued:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&#9744;  If
        this Conversion Notice is being delivered with respect to an Triggering Event Conversion, check here if Holder is electing to use
        the following Triggering Event Conversion Price:____________</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Please issue the Common Stock into which
        the applicable Preferred Shares are being converted to Holder, or for its benefit, as follows:</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 1in; text-align: justify; text-indent: -20pt">&#9744;&nbsp;&nbsp;  Check
        here if requesting delivery as a certificate to the following name and to the following address:</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-left: 0.5in; text-align: justify">Issue to:</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-left: 0.5in; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 6pt; padding-left: 0.5in; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding-right: 5.4pt; padding-left: 1in; text-indent: -1in">&#9;&#9744;&#9;Check here if requesting delivery by Deposit/Withdrawal at Custodian as follows:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-top: 12pt; padding-left: 0.5in; text-align: justify">DTC Participant:</TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-left: 0.5in; text-align: justify">DTC Number:</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-left: 0.5in; text-align: justify">Account Number:</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 23%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 40%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">Date: _____________ __, ____</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 156.6pt"><BR>
        Name of Registered Holder</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P></TD>
    <TD STYLE="width: 60%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 18.45pt; text-indent: -18.45pt">By: ______________________<BR>
Name:<BR>
Title:<BR>
<BR></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 18.45pt">Tax ID:_____________________</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 18.45pt">Facsimile:___________________</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 18.45pt; text-indent: -18.45pt">E-mail Address: &#9;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 12pt; padding-left: 18.45pt; text-indent: -18.45pt">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT II</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>ACKNOWLEDGMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Company hereby
acknowledges this Conversion Notice and hereby directs _________________ to issue the above indicated number of shares of Common
Stock in accordance with the Transfer Agent Instructions dated _____________, 20__ from the Company and acknowledged and agreed
to by ________________________.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif; width: 100%">TIMEFIREVR INC.</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">By: &nbsp;__________________________</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-left: 20pt">Name:&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-left: 20pt">Title:&nbsp;</TD></TR>
</TABLE>

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<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>3
<FILENAME>tfvr0103form8kexh3_2.htm
<DESCRIPTION>EXHIBIT 3.2
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 3.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>AMENDMENT NO. 1 TO THE CERTIFICATE
OF DESIGNATIONS OF </B><BR>
<B>SERIES E CONVERTIBLE PREFERRED STOCK OF</B><BR>
<B>TIMEFIREVR INC.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">I, Jonathan Read,
hereby certify that I am the Chief Executive Officer and Secretary of TimeFireVR Inc. (the &ldquo;<B>Company</B>&rdquo;), a corporation
organized and existing under Chapter 78 of the Nevada Revised Statues (the &ldquo;<B>NRS</B>&rdquo;), and further do hereby certify:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; text-align: justify">That the Company adopted the Company&rsquo;s
Certificate of Designations of Series E Convertible Preferred Stock of TimeFireVR Inc. (the &ldquo;COD&rdquo;) and the Company&rsquo;s
Board of Directors resolved that the number of shares of Series E Convertible Preferred Stock be increased to 305,000 and that
the COD be amended accordingly.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; text-align: justify"><B>RESOLVED,</B> that the COD is hereby
amended as follows.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Preamble is hereby stricken and replaced with:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">I, Jonathan
Read, hereby certify that I am the Chief Executive Officer and Secretary of TimeFireVR Inc. (the &ldquo;<B>Company</B>&rdquo;),
a corporation organized and existing under Chapter 78 of the Nevada Revised Statues (the &ldquo;<B>NRS</B>&rdquo;), and further
do hereby certify:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">That pursuant
to the authority expressly conferred upon the Board of Directors of the Company (the &ldquo;<B>Board</B>&rdquo;) by the Company&rsquo;s
articles of incorporation, as amended (the &ldquo;<B>Articles of Incorporation</B>&rdquo;), and Section 151(g) of the NRS, the
Board on January 2, 2018 adopted the following resolution determining it desirable and in the best interests of the Company and
its shareholders for the Company to create a series of three hundred and five thousand (305,000) shares of preferred stock designated
as &ldquo;<B>Series E Convertible Preferred Stock</B>&rdquo;, none of which shares have been issued.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">RESOLVED,
that pursuant to the authority vested in the Board this Company, in accordance with the provisions of the Articles of Incorporation,
a series of preferred stock, par value $0.01 per share, of the Company be and hereby is created, and that the designation and number
of shares thereof and the voting and other powers, preferences and relative, participating, optional or other rights of the shares
of such series and the qualifications, limitations and restrictions thereof are as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in; text-align: justify"><B>TERMS OF SERIES E CONVERTIBLE PREFERRED
STOCK</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 1 is hereby stricken and replaced with:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><U>1. Designation and Number of Shares</U>. There shall
hereby be created and established a series of preferred stock of the Company designated as &ldquo;Series E Convertible Preferred
Stock&rdquo; (the &ldquo;<B>Preferred Shares</B>&rdquo;). The authorized number of Preferred Shares shall be three hundred and
five thousand (305,000) shares. Each Preferred Share shall have a par value of $0.01. Capitalized terms not defined herein shall
have the meaning as set forth in Section 30 below.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Section 3(c)(iv) is hereby stricken and replaced with:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 2in; text-align: justify; text-indent: 0in">(iv) Each Preferred
Share Certificate shall bear the following legend:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1in 12pt 2in; text-align: justify">ANY TRANSFEREE OR ASSIGNEE OF
THIS CERTIFICATE SHOULD CAREFULLY REVIEW THE TERMS OF THE CORPORATION&rsquo;S CERTIFICATE OF DESIGNATIONS RELATING TO THE SHARES
OF SERIES E PREFERRED STOCK REPRESENTED BY THIS CERTIFICATE, INCLUDING SECTION THEREOF. THE NUMBER OF SHARES OF SERIES E PREFERRED
STOCK REPRESENTED BY THIS CERTIFICATE MAY BE LESS THAN THE NUMBER OF SHARES OF SERIES E PREFERRED STOCK STATED ON THE FACE HEREOF
PURSUANT TO SECTION OF THE CERTIFICATE OF DESIGNATIONS RELATING TO THE SHARES OF SERIES E PREFERRED STOCK REPRESENTED BY THIS CERTIFICATE.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
Company has caused this Amendment to the Certificate of Designations of Series E Convertible Preferred Stock of TimeFireVR Inc.
to be signed by its Chief Executive Officer on this 3nd day of January, 2018.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" ALIGN="RIGHT" STYLE="width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif; width: 100%">TIMEFIREVR INC.</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">By:&nbsp; __________________________</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-left: 20pt">Name:&nbsp;&nbsp;Jonathan Read</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-left: 20pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</TD></TR>
</TABLE><BR STYLE="clear: both">


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>4
<FILENAME>tfvr0103form8kexh4_1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SENIOR SECURED PROMISSORY NOTE</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>TIMEFIRE
LLC</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>Senior
Secured Promissory </B></FONT><B><FONT STYLE="font-variant: small-caps">Note</FONT></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify">Issuance Date:</TD>
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif">Original Principal Amount:</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>FOR VALUE RECEIVED,</B>
Timefire LLC, an Arizona limited liability company (&ldquo;TLLC&rdquo;), hereby promises to pay to the order of TimefireVR Inc.,
a Nevada corporation or its assigns (&ldquo;TVR&rdquo;) the amount set forth above as the Original Principal Amount (the &ldquo;Principal&rdquo;)
when due, whether upon the Maturity Date, upon acceleration or otherwise (in each case in accordance with the terms hereof) and
to pay interest (&ldquo;Interest&rdquo;) on any outstanding Principal at the applicable Interest Rate (as defined below) from the
date set forth above as the Issuance Date (the &ldquo;Issuance Date&rdquo;) until the same becomes due and payable, whether upon
the Maturity Date, upon acceleration or otherwise (in each case in accordance with the terms hereof). This Senior Secured Promissory
Note (this &ldquo;Note&rdquo;) is issued by TLLC to TVR pursuant to the terms of that certain Membership Interest Purchase Agreement
dated as of the Issuance Date (the &ldquo;MIPA&rdquo;). Certain capitalized terms used herein are defined in Section 18 herein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>PAYMENTS OF PRINCIPAL</U>. On the Maturity Date, TLLC shall pay to TVR all outstanding Principal, accrued and unpaid
Interest and accrued and unpaid Late Charges (as defined in Section 11) on such Principal and Interest. TLLC may not prepay any
portion of the outstanding Principal, accrued and unpaid Interest or accrued and unpaid Late Charges on Principal and Interest,
if any.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>INTEREST; INTEREST RATE</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Interest on this Note shall commence accruing on the Issuance Date at the Interest Rate, shall be computed on the basis
of a 360-day year and twelve 30-day months, shall compound monthly, and shall be payable in cash on each Interest Date.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Prior to the payment of Interest on the Maturity Date, Interest on this Note shall accrue at the Interest Rate. From and
after the occurrence and during the continuance of any Event of Default, the Interest Rate shall automatically be increased to
eighteen percent (18%) per annum. In the event that such Event of Default is subsequently cured (and no other Event of Default
then exists (including, without limitation, for TLLC&rsquo;s failure to pay such Interest at the Default Rate on the applicable
Interest Date), the adjustment referred to in the preceding sentence shall cease to be effective as of the calendar day immediately
following the date of such cure; provided that the Interest as calculated and unpaid at such increased rate during the continuance
of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default
through and including the date of such cure of such Event of Default.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>RIGHTS UPON EVENTS OF DEFAULT</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Event of Default</U>. Each of the following events shall constitute an &ldquo;Event of Default&rdquo;:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>TLLC&rsquo;s or any Affiliate&rsquo;s failure to pay to TVR any amount of Principal, Interest, Late Charges or other amounts
when and as due under this Note or the other Transaction Documents or any other agreement, document, certificate or other instrument
delivered in connection with the transactions contemplated hereby and thereby;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>bankruptcy, insolvency, reorganization, liquidation or other proceedings for the relief of debtors shall be instituted by
or against TLLC or any Affiliate and, if instituted against TLLC or any Affiliate by a third party, shall not be dismissed within
thirty (30) days of their initiation;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>the commencement by TLLC or any Affiliate of a voluntary case or proceeding under any applicable federal, state or foreign
bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or
insolvent, or the consent by it to the entry of a decree, order, judgment or other similar document in respect of TLLC or any Affiliate
in an involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization or other
similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition
or answer or consent seeking reorganization or relief under any applicable federal, state or foreign law, or the consent by it
to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee,
sequestrator or other similar official of TLLC or any Affiliate or of any substantial part of its property, or the making by it
of an assignment for the benefit of creditors, or the execution of a composition of debts, or the occurrence of any other similar
federal, state or foreign proceeding, or the admission by it in writing of its inability to pay its debts generally as they become
due, the taking of corporate action by TLLC or any Affiliate in furtherance of any such action or the taking of any action by any
Person to commence a Uniform Commercial Code foreclosure sale or any other similar action under federal, state or foreign law;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>the entry by a court of: (i) a decree, order, judgment or other similar document in respect of TLLC or any Affiliate of
a voluntary or involuntary case or proceeding under any applicable federal, state or foreign bankruptcy, insolvency, reorganization
or other similar law; (ii) a decree, order, judgment or other similar document adjudging TLLC or any Affiliate as bankrupt or insolvent,
or approving as properly filed a petition seeking liquidation, reorganization, arrangement, adjustment or composition of or in
respect of TLLC or any Affiliate under any applicable federal, state or foreign law; or (iii) a decree, order, judgment or other
similar document appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of TLLC
or any Affiliate or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree, order, judgment or other similar document or any such other decree, order, judgment or other similar
document unstayed and in effect for a period of thirty (30) consecutive days;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>TLLC and/or any Affiliate permit to exist any circumstance or event that would, with or without the passage of time or the
giving of notice, result in a default or event of default under any agreement binding TLLC or any Affiliate (including this Note
and the other Transaction Documents), which default or event of default would or is likely to have a material adverse effect on
the business, assets, operations (including results thereof), liabilities, properties, condition (including financial condition)
or prospects of TLLC or any of its Affiliates, individually or in the aggregate;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>TLLC or any Affiliate breaches any representation or warranty in any material respect (other than representations or warranties
subject to material adverse effect or materiality limitations, which may not be breached in any respect) or any covenant or other
term or condition of this Note or any other Transaction Document, including, without limitation, Section 5.01 of the MIPA, except,
in the case of a breach of a covenant or other term or condition of this Note that is curable, only if such breach remains uncured
for a period of five (5) consecutive Business Days;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>any provision of any Transaction Document shall at any time for any reason (other than pursuant to the express terms thereof)
cease to be valid and binding on or enforceable against the parties thereto, or the validity or enforceability thereof shall be
contested by any party thereto, or a proceeding shall be commenced by TLLC or any Affiliate or any governmental authority having
jurisdiction over any of them, seeking to establish the invalidity or unenforceability thereof, or TLLC or any Affiliate shall
deny in writing that it has any liability or obligation purported to be created under any Transaction Document;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>the Security Agreement shall for any reason fail or cease to create a separate valid and perfected and, except to the extent
permitted by the terms hereof or thereof, first priority lien on the Collateral (as defined in the Security Agreement) or any material
provision of the Security Agreement shall at any time for any reason cease to be valid and binding on or enforceable against TLLC
or the validity or enforceability thereof shall be contested by any party thereto, or a proceeding shall be commenced by TLLC or
any governmental authority having jurisdiction over TLLC, seeking to establish the invalidity or unenforceability thereof; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-align: justify; text-indent: 0.75in">(ix)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>any material damage to, or loss, theft or destruction of, any Collateral (as defined in the Security Agreement), whether
or not insured, or any strike, lockout, labor dispute, embargo, condemnation, act of God or public enemy, or other casualty which
lasts uninterrupted for more than fifteen (15) consecutive days.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Notice of an Event of Default</U>. Upon the occurrence of an Event of Default with respect to this Note, TLLC shall within
one (1) Business Day deliver written notice thereof via facsimile or electronic mail and overnight courier (with next day delivery
specified) to TVR.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Remedies</U>. Upon the occurrence of an Event of Default that has not been cured during any applicable cure period hereunder,
TVR may:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>by notice to TLLC, declare immediately due and payable the entire Principal outstanding hereunder, together with all Interest,
Late Charges and other amounts at any time owed on this Note;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>apply the Default Rate to any outstanding Principal and accrued but unpaid Interest in accordance with the terms of Section
2(b) hereof; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>declare TLLC to be in default of one or more of the Transaction Documents in accordance with the terms and conditions set
forth therein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>NONCIRCUMVENTION</U>. TLLC hereby covenants and agrees that TLLC will not, and will not cause it Affiliates to, directly
or indirectly through one or more related transactions, amend its governing documents or, through any reorganization, transfer
of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other voluntary action,
avoid or seek to avoid the observance or performance of any of the terms of this Note, and will at all times in good faith carry
out all of the provisions of this Note and take all action as may be required to protect the rights of TVR.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>COVENANTS</U>. Until all Principal, accrued Interest, Late Charges and other amounts at any time owed on this Note have
been paid in full:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Restrictions on Debt</U>. TLLC shall not, and TLLC shall cause each of its Affiliates to not, directly or indirectly
create, incur or assume any of the following: (i)&nbsp;indebtedness for borrowed money or for the deferred purchase price of property
or services; (ii)&nbsp;indebtedness evidenced by a note, bond, debenture or similar instrument; (iii)&nbsp;any letter or letters
of credit issued for the account of TLLC to the extent there are unreimbursed amounts drawn thereunder; (iv)&nbsp;indebtedness
secured by any mortgage, lien, pledge, charge, security interest or other encumbrance upon or in any property or assets (including
accounts and contract rights) owned by TLLC or any of its Affiliates (collectively, &ldquo;Liens&rdquo;) except Permitted Liens;
(v)&nbsp;any obligation of TLLC directly or indirectly guaranteeing any indebtedness or other obligation of any other Person in
any manner; (vi)&nbsp;any payment obligations of TLLC under any interest rate protection agreement (including, without limitation,
any interest rate swaps, caps, floors, collars or similar agreements) and similar agreements; or (vii)&nbsp;any contractual indemnity
obligations of TLLC other than indemnity obligations entered into in the ordinary course of business (collectively, &ldquo;Debt&rdquo;);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Restricted Payments</U>. TLLC shall not, and TLLC shall cause each of its Affiliates to not, directly or indirectly,
redeem, defease, repurchase, repay or make any payments in respect of, all or any portion of any Debt of TLLC (other than this
Note) whether by way of payment in respect of principal of (or premium, if any) or interest on, such Debt of TLLC if at the time
such payment is due or is otherwise made or, after giving effect to such payment: (i) an event constituting an Event of Default
has occurred and is continuing or (ii) an event that with the passage of time and without being cured would constitute an Event
of Default has occurred and is continuing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Restriction on Transfer of Assets</U>. TLLC shall not, and TLLC shall cause each of its Affiliates to not, directly or
indirectly, sell, lease, license, assign, transfer, spin-off, split-off, close, convey or otherwise dispose of any Collateral (as
defined in the Security Agreement) or any other assets or rights of TLLC or any Affiliate owned or hereafter acquired whether in
a single transaction or a series of related transactions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Change in Nature of Business</U>.&nbsp;TLLC shall not, and TLLC shall cause each of its Affiliates to not, directly or
indirectly, engage in any material line of business substantially different from those lines of business conducted by or publicly
contemplated to be conducted by TLLC and each of its Affiliates on the Issuance Date or any business substantially related or incidental
thereto. TLLC shall not, and TLLC shall cause each of its Affiliates to not, directly or indirectly, modify its or their corporate
structure or purpose.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Preservation of Existence, Etc.</U> TLLC shall maintain and preserve, and cause each of its Affiliates to maintain and
preserve, its existence, rights and privileges, and become or remain, and cause each of its Affiliates to become or remain, duly
qualified and in good standing in each jurisdiction in which the character of the properties owned or leased by it or in which
the transaction of its business makes such qualification necessary.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Maintenance of Properties, Etc.</U> TLLC shall maintain and preserve, and cause each of its Affiliates to maintain and
preserve, all of its properties which are necessary or useful in the proper conduct of its business in good working order and condition,
ordinary wear and tear excepted, and comply, and cause each of its Affiliates to comply, at all times with the provisions of all
leases to which it is a party as lessee or under which it occupies property, so as to prevent any loss or forfeiture thereof or
thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Maintenance of Intellectual Property</U>. TLLC will, and will cause each of its Affiliates to, take all action necessary
or advisable to maintain all of the intellectual property of TLLC and/or any of its Affiliates in full force and effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Maintenance of Insurance</U>. TLLC shall maintain, and cause each of its Affiliates to maintain, insurance with responsible
and reputable insurance companies or associations (including, without limitation, comprehensive general liability, hazard, rent
and business interruption insurance) with respect to its properties (including all real properties leased or owned by it) and business,
in such amounts and covering such risks as is required by any governmental authority having jurisdiction with respect thereto or
as is carried generally in accordance with sound business practice by companies in similar businesses similarly situated.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Transactions with Affiliates</U>. TLLC shall not, nor shall it permit any of its Affiliates to, enter into, renew, extend
or be a party to, any transaction or series of related transactions (including, without limitation, the purchase, sale, lease,
transfer or exchange of property or assets of any kind or the rendering of services of any kind) with any Affiliate, except in
the ordinary course of business in a manner and to an extent consistent with past practice and necessary for the prudent operation
of its business, for fair consideration and on terms no less favorable to it or its Affiliates than would be obtainable in a comparable
arm&rsquo;s length transaction with a Person that is not an Affiliate thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Change in Collateral; Collateral Records</U>. TLLC shall: (i) give TVR not less than thirty (30) days&rsquo; prior written
notice of any change in the location of any Collateral (as defined in the Security Agreement); (ii) advise TVR promptly, in sufficient
detail, of any material adverse change relating to the type, quantity or quality of the Collateral or any Liens granted thereon;
and (iii) execute and deliver, and cause each of its Affiliates to execute and deliver to TVR such written statements and schedules
as TVR may reasonably require, designating, identifying or describing the Collateral.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>AMENDING THE TERMS OF THIS NOTE</U>. The prior written consent of TVR shall be required for any change, waiver or amendment
to this Note. Any change, waiver or amendment so approved shall be binding upon all existing and future holders of this Note.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>REMEDIES, CHARACTERIZATIONS, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF</U>. The remedies provided in this Note
shall be cumulative and in addition to all other remedies available under this Note and any of the other Transaction Documents
at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit
TVR&rsquo;s right to pursue actual and consequential damages for any failure by TLLC to comply with the terms of this Note. TLLC
covenants to TVR that there shall be no characterization concerning this instrument other than as expressly provided herein. Amounts
set forth or provided for herein with respect to payments shall be the amounts to be received by TVR and shall not, except as expressly
provided herein, be subject to any other obligation of TLLC (or the performance thereof). TLLC acknowledges that a breach by it
of its obligations hereunder will cause irreparable harm to TVR and that the remedy at law for any such breach may be inadequate.
TLLC therefore agrees that, in the event of any such breach or threatened breach, TVR shall be entitled, in addition to all other
available remedies, to specific performance and/or temporary, preliminary and permanent injunctive or other equitable relief from
any court of competent jurisdiction in any such case without the necessity of proving actual damages and without posting a bond
or other security. TLLC shall provide all information and documentation to TVR that is requested by TVR to enable TVR to confirm
TLLC&rsquo;s compliance with the terms and conditions of this Note.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>PAYMENT OF COLLECTION, ENFORCEMENT AND OTHER COSTS</U>. If: (i) this Note is placed in the hands of an attorney for collection
or enforcement or is collected or enforced through any legal proceeding or TVR otherwise takes action to collect amounts due under
this Note or to enforce the provisions of this Note; or (ii) there occurs any bankruptcy, reorganization, receivership of TLLC
or other proceedings affecting TLLC creditors&rsquo; rights and involving a claim under this Note, then TLLC shall pay the costs
incurred by TVR for such collection, enforcement or action or in connection with such bankruptcy, reorganization, receivership
or other proceeding, including, without limitation, attorneys&rsquo; fees and disbursements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>CONSTRUCTION; HEADINGS</U>. This Note shall be deemed to be jointly drafted by TLLC and TVR and shall not be construed
against any such Person as the drafter hereof. The headings of this Note are for convenience of reference and shall not form part
of, or affect the interpretation of, this Note. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed
to include the masculine, feminine, neuter, singular and plural forms thereof. The terms &ldquo;including,&rdquo; &ldquo;includes,&rdquo;
&ldquo;include&rdquo; and words of like import shall be construed broadly as if followed by the words &ldquo;without limitation.&rdquo;
The terms &ldquo;herein,&rdquo; &ldquo;hereunder,&rdquo; &ldquo;hereof&rdquo; and words of like import refer to this entire Note
instead of just the provision in which they are found. Unless expressly indicated otherwise, all section references are to sections
of this Note.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>FAILURE OR INDULGENCE NOT WAIVER</U>. No failure or delay on the part of TVR in the exercise of any power, right or privilege
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude
other or further exercise thereof or of any other right, power or privilege. No waiver shall be effective unless it is in writing
and signed by an authorized representative of the waiving party.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>NOTICES; CURRENCY; PAYMENTS</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="letter-spacing: -0.15pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT></FONT><U>Notices</U>. <FONT STYLE="letter-spacing: -0.15pt">All notices, offers, acceptance and any other acts under this
Agreement shall be in writing, and shall be sufficiently given if delivered to the addressees in person, by FedEx or similar receipted
next business day delivery, or by email followed by overnight next business day delivery as follows:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 85%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">To TVR:</FONT></TD>
    <TD STYLE="width: 66%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">TimefireVR
        Inc.</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">7960
        East Camelback Road, Suite 511</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">Scottsdale,
        Arizona 85251</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">Attention:
        Jonathan Read</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">Email:
        jread@QUADRATUM1.COM</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">With
        a copy to:</FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Nason, Yeager, Gerson, White &amp; Lioce, P.A.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">3001 PGA Boulevard, Suite 305</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Palm Beach Gardens, Florida 33410</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Attention: Michael D. Harris, Esq.</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Email: mharris@nasonyeager.com</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">To
        TLLC:</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">With
        a copy to:</FONT></P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">or to such
other address as any of them, by notice to the other may designate from time to time. Time shall be counted to, or from, as the
case may be, the date of delivery.</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Currency</U>. All dollar amounts referred to in this Note are in United States Dollars (&ldquo;U.S. Dollars&rdquo;),
and all amounts owing under this Note shall be paid in U.S. Dollars.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Payments</U>. Whenever any payment of cash is to be made by TLLC to any Person pursuant to this Note, unless otherwise
expressly set forth herein, such payment shall be made via wire transfer of immediately available funds. Whenever any amount expressed
to be due by the terms of this Note is due on any day which is not a Business Day, the same shall instead be due on the next succeeding
day which is a Business Day. Any amount of Principal or other amounts due under the Transaction Documents which is not paid when
due shall result in a late charge being incurred and payable by TLLC in an amount equal to interest on such amount at the rate
of eighteen percent (18%) per annum from the date such amount was due until the same is paid in full (&ldquo;Late Charge&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>CANCELLATION</U>. After all Principal, accrued Interest, Late Charges and other amounts at any time owed on this Note
have been paid in full, this Note shall automatically be deemed canceled, shall be surrendered to TLLC for cancellation and shall
not be reissued.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>WAIVER OF NOTICE</U>. To the extent permitted by law, TLLC hereby irrevocably waives demand, notice, presentment, protest
and all other demands and notices in connection with the delivery, acceptance, performance, default or enforcement of this Note.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>GOVERNING LAW</U>. This Note shall be construed and enforced in accordance with, and all questions concerning the construction,
validity, interpretation and performance of this Note shall be governed by, the internal laws of the State of Nevada, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of Nevada or any other jurisdictions) that
would cause the application of the laws of any jurisdictions other than the State of Nevada. TLLC hereby irrevocably submits to
the exclusive jurisdiction of the state and federal courts sitting in the City of Las Vegas, Clark County, for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue
of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude TVR from bringing suit or taking
other legal action against TLLC in any other jurisdiction to collect on TLLC&rsquo;s obligations to TVR, to realize on any collateral
or any other security for such obligations, or to enforce a judgment or other court ruling in favor of TVR. <B>TLLC HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>SEVERABILITY</U>. If any provision of this Note is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Note so long as this Note as so modified continues
to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited
nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations
or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the
parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>MAXIMUM PAYMENTS</U>. Nothing contained herein shall be deemed to establish or require the payment of a rate of interest
or other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid
or other charges hereunder exceed the maximum permitted by such law, any payments in excess of such maximum shall be credited against
amounts owed by TLLC to TVR and thus refunded to TLLC.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>SECURITY</U>.&#9;<FONT STYLE="background-color: white">The payment of this Note is secured by a first priority lien on
certain collateral of TLLC (the &ldquo;Collateral&rdquo;), as specified in that certain Security Agreement by and between TLLC
and TVR, executed of even date herewith and attached hereto as <U>Exhibit &ldquo;A&rdquo;</U> (the &ldquo;Security Agreement&rdquo;).
Notwithstanding the existence of security interests in the Collateral for the payment of this Note, TLLC shall at all times remain
liable to TVR for the full and punctual payment of all principal, interest and other amounts that are owed under this Note.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>CERTAIN DEFINITIONS</U>. For purposes of this Note, the following terms shall have the following meanings:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Affiliate</B>&rdquo; means, with respect to any Person, any other Person that directly or indirectly controls,
is controlled by, or is under common control with, such Person, it being understood for purposes of this definition that &ldquo;control&rdquo;
of a Person means the power directly or indirectly either to vote 10% or more of the stock having ordinary voting power for the
election of directors of such Person or direct or cause the direction of the management and policies of such Person whether by
contract or otherwise.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Business Day</B>&rdquo; means any day other than Saturday, Sunday or other day on which commercial banks in The
City of Las Vegas are authorized or required by law to remain closed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Interest Date</B>&rdquo; means, with respect to any given calendar month, the first Business Day of such calendar
month.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Interest Rate</B>&rdquo; means six percent (6%) per annum.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Maturity Date</B>&rdquo; means October 2, 2018</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Permitted Liens</B>&rdquo; means (i) any Lien for taxes not yet due or delinquent or being contested in good faith
by appropriate proceedings, (ii) any statutory Lien arising in the ordinary course of business by operation of law with respect
to a liability that is not yet due or delinquent, (iii) any Lien created by operation of law, such as materialmen&rsquo;s liens,
mechanics&rsquo; liens and other similar liens, arising in the ordinary course of business with respect to a liability that is
not yet due or delinquent or that are being contested in good faith by appropriate proceedings, and (iv) Liens in favor of customs
and revenue authorities arising as a matter of law to secure payments of custom duties in connection with the importation of goods.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Person</B>&rdquo; means an individual, a limited liability company, a partnership, a joint venture, a corporation,
a trust, an unincorporated organization, any other entity or a government or any department or agency thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>&ldquo;<B>Transaction Documents</B>&rdquo; means any and all of the documents listed in Section 4.02 of the MIPA.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">[<I>signature page follows</I>]</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
TLLC has caused this Note to be duly executed as of the Issuance Date set out above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>TIMEFIRE LLC </B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&nbsp;___________________________</TD></TR>
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    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 20pt; text-align: justify">Name:</TD></TR>
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    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 20pt; text-align: justify">Title:</TD></TR>
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<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>

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<TYPE>EX-10.1
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<FILENAME>tfvr0103form8kexh10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXCHANGE AGREEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>AMENDED AND RESTATED
EXCHANGE AGREEMENT</B> (the &ldquo;<B>Agreement</B>&rdquo;) is made as of the ___ day of December 2017, by and between, TimefireVR,
Inc., a Nevada corporation (the &ldquo;<B>Company</B>&rdquo;), and the investor signatory hereto (the &ldquo;<B>Investor</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
the Investor has previously acquired from the Company, among other things, (i) such aggregate number of shares of Series A Preferred
Stock, $0.01 par value, of the Company as set forth opposite the Investor&rsquo;s name on <B><U>Schedule I</U></B> attached hereto
(the &ldquo;<B>Investor Series A Preferred Stock</B>&rdquo;), (ii) such aggregate number of shares of Series A-1 Preferred Stock,
$0.01 par value of the Company as set forth opposite the Investor&rsquo;s name on <B><U>Schedule I</U></B> attached hereto (the
&ldquo;<B>Investor Series A-1 Preferred Stock</B>&rdquo;), (iii) such aggregate number of shares of Series C Preferred Stock, $0.01
par value, of the Company as set forth opposite the Investor&rsquo;s name on <B><U>Schedule I</U></B> attached hereto (the &ldquo;<B>Investor
Series C Preferred Stock</B>&rdquo;), (iv) warrants (the &ldquo;<B>Investor March Warrants</B>&rdquo;) to acquire such aggregate
number of shares of common stock, $0.001 par value, of the Company (the &ldquo;<B>Common Stock</B>&rdquo;) as set forth opposite
the Investor&rsquo;s name on <B><U>Schedule I</U></B> attached hereto, (v) warrants (the &ldquo;<B>Investor August Warrants</B>&rdquo;)
to acquire such aggregate number of shares of Common Stock as set forth opposite the Investor&rsquo;s name on <B><U>Schedule I</U></B>
attached hereto, (vi) warrants (the &ldquo;<B>Investor September 2016 Warrants</B>&rdquo;) to acquire such aggregate number of
shares of Common Stock as set forth opposite the Investor&rsquo;s name on <B><U>Schedule I</U></B> attached hereto, (vii) a senior
secured convertible note, issued by the Company, dated March 3, 2017, with outstanding principal as set forth opposite the Investor&rsquo;s
name on <B><U>Schedule I</U></B> attached hereto (the &ldquo;<B>Investor March Notes</B>&rdquo;), and (viii) a senior secured convertible
note, issued by the Company, dated August 21 2017, with outstanding principal as set forth opposite the Investor&rsquo;s name on
<B><U>Schedule I</U></B> attached hereto (the &ldquo;<B>Investor August Notes</B>&rdquo;). The Investor Series A Preferred Stock,
the Investor Series A-1 Preferred Stock, the Investor Series C Preferred Stock, the Investor September 2016 Warrants, the Investor
March Warrants and the Investor March Notes are collectively referred to therein as the &ldquo;<B>Investor 144 Securities</B>&rdquo;.
The Investor August Note and the Investor August Warrant are collectively referred to as the &ldquo;<B>Investor Restricted Securities</B>&rdquo;and
together with the Investor 144 Securities, the &ldquo;<B>Investor Securities</B>&rdquo;. Capitalized terms not defined herein shall
have the meaning as set forth in that certain Securities Purchase Agreement, dated December 20, 2017, by and among the Company
and certain purchasers of senior secured convertible notes of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
the Company has authorized a new series of convertible preferred stock of the Company designated as Series E Convertible Preferred
Stock, $0.01 par value, the terms of which are set forth in the Certificate of Designations for such series of Series E Preferred
Stock (the &ldquo;<B>New Certificate of Designations</B>&rdquo;) in the form attached hereto as <B><U>Exhibit A</U></B> (together
with any convertible preferred shares issued in replacement thereof in accordance with the terms thereof, the &ldquo;<B>New Series
E Preferred Stock</B>&rdquo;), which New Series E Preferred Stock shall be convertible into shares of Common Stock, in accordance
with the terms of the New Certificate of Designations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
subject to the satisfaction of the conditions set forth herein, the Company and the Investor desire to consummate the following
exchanges (each, an &ldquo;<B>Exchange</B>&rdquo;): (i) the Company shall issue such aggregate number of shares of New Series E
Preferred Stock in exchange for each of the Investor Securities as set forth on <B><U>Schedule II</U></B> attached hereto (the
&ldquo;<B>New Preferred Shares</B>&rdquo;, and, as converted, the &ldquo;<B>New Conversion Shares</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
the exchange of the Investor Securities for the New Preferred Shares is being made in reliance upon the exemption from registration
provided by Section 3(a)(9) of the Securities Act of 1933, as amended (the &ldquo;<B>1933 Act</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
concurrently herewith, the Company is entering into agreements with holders (each, an &ldquo;<B>Other Investor</B>&rdquo;, and
such agreements, each an &ldquo;<B>Other Agreement</B>&rdquo;) of other securities of the Company of the same type and class as
each of the Investor Securities (the &ldquo;<B>Other Securities</B>&rdquo;) substantially in the form of this Agreement (other
than with respect to the identity of the Investor, any provision regarding the reimbursement of legal fees and proportional changes
reflecting the different aggregate amounts of Other Securities held by such Other Investor then outstanding).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE,</B>
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in consideration of the
promises and the mutual agreements, representations and warranties, provisions and covenants contained herein, the parties hereto,
intending to be legally bound hereby, agree as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Exchange; Forbearance</U>. On the Closing Date, subject to the terms and conditions of this Agreement, the Investor shall,
and the Company shall, pursuant to Section 3(a)(9) of the 1933 Act, exchange the Investor Securities for the New Preferred Shares.
At the Closing (as defined below), the following transactions shall occur (such transactions in this Section&nbsp;1, the &ldquo;<B>Exchange</B>&rdquo;):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>As of the Closing Date (as defined below), the Investor Securities shall be free and clear of all Liens. Upon receipt of
the New Preferred Shares in accordance with Section 1.2, all of the Investor&rsquo;s rights under the Investor Securities shall
be extinguished (including, without limitation, the rights to receive, as applicable, any premium, make-whole amount, accrued and
unpaid interest or dividends thereon or any other shares of Common Stock with respect thereto (whether upon in connection with
a Fundamental Transaction, event of default or otherwise)).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>On the Closing Date, the Company shall issue the New Preferred Shares to the Investor (or its designee). Promptly after
the Closing Date the Company shall deliver a certificate evidencing the New Preferred Shares to the Investor (or its designee).
On the Closing Date, the Investor shall be deemed for all corporate purposes to have become the holder of record of the New Preferred
Shares and shall have the right to convert the New Preferred Shares, irrespective of the date the Company delivers the certificate
evidencing the New Preferred Shares to the Investor. For the avoidance of doubt, the Investor shall be entitled to exercise all
of its rights with respect to the New Preferred Shares, including without limitation, the right to convert the New Preferred Shares
into Common Stock in accordance with the terms of the New Certificate of Designations, immediately following the Closing (as defined
below), irrespective of when the certificate for the New Preferred Shares is delivered to the Investor.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>The Company and the Investor shall execute and/or deliver such other documents and agreements as are customary and reasonably
necessary to effectuate the Exchange.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">1.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>If the Closing has not occurred on or prior to December 29, 2017, the Investor shall have the right, by delivery of written
notice to the Company to terminate this Agreement (such date, the &ldquo;<B>Termination Date</B>&rdquo;). From the date hereof
until the earlier of (x) the Closing Date (as defined below) and (y) the Termination Date, the Investor shall forbear from taking
any actions with respect to the Investor Securities not explicitly set forth herein, including, without limitation, conversions,
exercises, redemptions, exchanges or delivery of written notice to the Company to require the conversion, exercise, redemption
or exchange of any of the Investor Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>The Closing(s)</U>. Subject to the conditions set forth below, the Exchange shall take place at the offices of __________________,
on the date hereof, or at such other time and place as the Company and the Investor mutually agree (the &ldquo;<B>Closing</B>&rdquo;
and the &ldquo;<B>Closing Date</B>&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Closing Conditions</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">3.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Conditions to Investor&rsquo;s Obligations</U>. The obligation of the Investor to consummate the Exchange is subject
to the fulfillment, to the Investor&rsquo;s reasonable satisfaction, prior to or at the Closing, of each of the following conditions:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) <U>Representations
and Warranties</U>(b). The representations and warranties of the Company contained in this Agreement shall be true and
correct in all material respects (except for those representations and warranties that are qualified by materiality or
Material Adverse Effect, which are accurate in all respects) on the date hereof and on and as of the Closing Date as if made
on and as of such date (except for representations and warranties that speak as of a specific date, which are accurate in all
material respects (except for those representations and warranties that are qualified by materiality or Material Adverse
Effect, which are accurate in all respects) as of such specified date).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c) <U>Issuance
of Securities</U>(d). At the Closing, the Company shall issue the New Preferred Shares on the books and records of the
Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e) <U>No
Actions</U>(f). No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or
proposed before any court, governmental agency or authority or legislative body to enjoin, restrain, prohibit or obtain
substantial damages in respect of, this Agreement or the consummation of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(g) <U>Proceedings
and Documents</U>(h). All proceedings in connection with the transactions contemplated hereby and all documents and instruments
incident to such transactions shall be satisfactory in substance and form to the Investor, and the Investor shall have received
all such counterpart originals or certified or other copies of such documents as they may reasonably request.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Listing</U>. On each Trading Day during the twenty (20) Trading Days immediately preceding the Closing Date, the Common
Stock (I) shall be designated for quotation or listed on an Eligible Market and (II) shall not have been suspended.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>No Material Non-Public Information</U>. As of the Closing Date, the Investor shall not be in possession of any material,
nonpublic information received from the Company, any Subsidiary or its respective agents or Affiliates, except as disclosed on
Schedule 3.1(j)<U>.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>No Current Public Information Failure</U>. As of the Closing Date, the Company shall have no knowledge of any fact that
would cause any New Preferred Shares or New Conversion Shares (without regard to any restriction or limitation on conversion of
the New Preferred Shares), not to be eligible for resale pursuant to (i) Rule 144 without any volume limitation by the Investor
(including, without limitation, by virtue of an existing or expected Current Public Information Failure) or (ii) any applicable
state securities laws.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>New Certificate of Designations</U>. As of the Closing Date, the New Certificate of Designations shall have been filed
with the Secretary of State of Nevadaand shall be in full force and effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">3.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Conditions to the Company&rsquo;s Obligations</U>. The obligation of the Company to consummate the Exchange is subject
to the fulfillment, to the Company&rsquo;s reasonable satisfaction, prior to or at the Closing in question, of each of the following
conditions:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a) <U>Representations
and Warranties</U>(b). The representations and warranties of the Investor contained in this Agreement shall be true and
correct in all material respects (except for those representations and warranties that are qualified by materiality or
material adverse effect, which are accurate in all respects) on the date hereof and on and as of the Closing Date as if made
on and as of such date (except for representations and warranties that speak as of a specific date, which are accurate in all
material respects (except for those representations and warranties that are qualified by materiality or material adverse
effect, which are accurate in all respects) as of such specified date).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c) <U>No
Actions</U>. No action, proceeding, investigation, regulation or legislation shall have been instituted, threatened or
proposed before any court, governmental agency or authority or legislative body to enjoin, restrain, prohibit, or obtain
substantial damages in respect of, this Agreement or the consummation of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d) <U>Proceedings
and Documents</U>. All proceedings in connection with the transactions contemplated hereby and all documents and instruments
incident to such transactions shall be satisfactory in substance and form to the Company and the Company shall have received
all such counterpart originals or certified or other copies of such documents as the Company may reasonably request.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Representations and Warranties of the Company</U>. The Company hereby represents and warrants to Investor that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Organization, Good Standing and Qualification</U>. The Company is a corporation duly organized, validly existing and
in good standing under the laws of the State ofNevada. The Company is duly qualified to transact business and is in good standing
in each jurisdiction in which the failure to so qualify would have a Material Adverse Effect (as defined below) on its business
or properties. As used in this Agreement, &ldquo;<B>Material Adverse Effect</B>&rdquo; means any material adverse effect on the
business, properties, assets, liabilities, operations, results of operations, condition (financial or otherwise) or prospects of
the Company and its Subsidiaries, if any, individually or taken as a whole, or on the transactions contemplated hereby or on the
Transaction Documents (as defined below) or by the agreements and instruments to be entered into (or entered into) in connection
herewith or therewith, or on the authority or ability of the Company to perform its obligations under this Agreement or the Transaction
Documents.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Authorization</U>. All corporate action on the part of the Company, its officers, directors and stockholders necessary
for the authorization, execution and delivery of this Agreement and the other Transaction Documents and the performance of all
obligations of the Company hereunder and thereunder, and the authorization of the Exchange, the issuance (and reservation for issuance)
of the New Preferred Shares and the New Conversion Shares (collectively, the &ldquo;<B>Securities</B>&rdquo;) have been taken on
or prior to the date hereof. The New Certificate of Designations has been validly filed with the Secretary of State of Nevada and,
as of the date hereof and the Closing Date, remains in full force and effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Valid Issuance of the Securities</U>. The New Preferred Shares when issued and delivered in accordance with the terms
of this Agreement, for the consideration expressed herein, and the New Conversion Shares when issued in accordance with the terms
of the New Certificate of Designations, for the consideration expressed therein, will be duly and validly issued, fully paid and
non-assessable. Upon conversion of the New Preferred Shares (from and after six months from the date of each respective Investor
Restricted Securitywith respect to New Preferred Shares issued in exchange for any Investor Restricted Securities), the New Conversion
Shares shall be freely tradable and may be sold under Rule 144 subject to the Company having filed all applicable Form 10-Q and
10-K. The Company agrees to take all actions, including, without limitation, the issuance by its legal counsel of any necessary
legal opinions, necessary to issue unrestricted New Conversion Shares upon appropriate notice of sale under Rule 144 under the
1933 Act in connection with which New Conversion Shares issued upon conversion of New Preferred Shares issued in exchange for any
Investor Restricted Securities) will be freely tradable on the principal Eligible Market on which the Common Stock then trades
without restriction and not containing any restrictive legend without the need for any action by the Investor. As of the Closing,
the Company shall have reserved from its duly authorized capital stock not less than 125% of the maximum number of shares of Common
Stock (assuming for purposes hereof that (x) such New Preferred Shares are convertible at the initial Conversion Price (as defined
in the New Certificate of Designations) any such conversion shall not take into account any limitations on the conversion of the
Preferred Shares set forth in the Certificate of Designations).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Offering</U>. Neither the Company, nor any of its affiliates, nor any Person acting on its or their behalf, has engaged
in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or
sale of the Securities. The Company shall be responsible for the payment of any placement agent&rsquo;s fees, financial advisory
fees, or brokers&rsquo; commissions (other than for persons engaged by the Investor or its investment advisor) relating to or arising
out of the transactions contemplated hereby. The Company shall pay, and hold the Investor harmless against, any liability, loss
or expense (including, without limitation, attorney&rsquo;s fees and out-of-pocket expenses) arising in connection with any such
claim. Neither the Company nor any of its Subsidiaries has engaged any placement agent or other agent in connection with the sale
of the Securities. The offer and issuance of the Securities as contemplated by this Agreement are exempt from the registration
requirements of the 1933 Act and the qualification or registration requirements of state securities laws or other applicable blue
sky laws. Neither the Company nor any authorized agent acting on its behalf will take any action hereafter that would cause the
loss of such exemptions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Compliance With Laws</U>. The Company has not violated any law or any governmental regulation or requirement which violation
has had or would reasonably be expected to have a Material Adverse Effect, and the Company has not received written notice of any
such violation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Consents; Waivers</U>. No consent, waiver, approval or authority of any nature, or other formal action, by any Person,
not already obtained, is required in connection with the execution and delivery of this Agreement by the Company or the consummation
by the Company of the transactions provided for herein and therein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Acknowledgment Regarding Investor&rsquo;s Purchase of Securities</U>. The Company acknowledges and agrees that the Investor
is acting solely in the capacity of arm&rsquo;s length purchaser with respect to this Agreement and the other documents entered
into in connection herewith (collectively, the &ldquo;<B>Transaction Documents</B>&rdquo;) and the transactions contemplated hereby
and thereby and that the Investor is not (i) an officer or director of the Company, (ii) an &ldquo;affiliate&rdquo; of the Company
(as defined in Rule 144 promulgated under the 1933 Act), or (iii) to the knowledge of the Company, a &ldquo;beneficial owner&rdquo;
of more than 10% of the shares of Common Stock (as defined for purposes of Rule 13d-3 of the 1934 Act). The Company further acknowledges
that the Investor is not 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 hereby and thereby, and any advice given by the Investor or any of
its representatives or agents in connection with the Transaction Documents and the transactions contemplated hereby and thereby
is merely incidental to the Investor&rsquo;s acceptance of the New Preferred Shares. The Company further represents to the Investor
that the Company&rsquo;s decision to enter into the Transaction Documents has been based solely on the independent evaluation by
the Company and its representatives.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Absence of Litigation</U>. Except as set forth in the SEC Documents, there is no action, suit, proceeding, inquiry or
investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the
knowledge of the Company, threatened against or affecting the Company, the Common Stock, the Investor Securities or any of the
Company&rsquo;s officers or directors in their capacities as such.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>No Group</U>. The Company acknowledges that, to the Company&rsquo;s knowledge, the Investor is acting independently in
connection with this Agreement and the transactions contemplated hereby, and is not acting as part of a &ldquo;group&rdquo; as
such term is defined under Section 13(d) of the 1933 Act and the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Validity; Enforcement; No Conflicts</U>. This Agreement and each Transaction Document to which the Company is a party
have been duly and validly authorized, executed and delivered on behalf of the Company and shall constitute the legal, valid and
binding obligations of the Company enforceable against the Company in accordance with their respective terms, except as such enforceability
may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
and other similar laws relating to, or affecting generally, the enforcement of applicable creditors&rsquo; rights and remedies.
The execution, delivery and performance by the Company of this Agreement and each Transaction Document to which the Company is
a party and the consummation by the Company of the transactions contemplated hereby and thereby will not (i) result in a violation
of the organizational documents of the Company or (ii) conflict with, or constitute a default (or an event which with notice or
lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation
of, any agreement, indenture or instrument to which the Company is a party or by which it is bound, or (iii) result in a violation
of any law, rule, regulation, order, judgment or decree (including federal and state securities or &ldquo;blue sky&rdquo; laws)
applicable to the Company, except in the case of clause (ii) above, for such conflicts, defaults or rights which would not, individually
or in the aggregate, reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Disclosure</U>. Other than as set forth in the 8-K Filing (as defined below) or Schedule 3.1(j), the Company confirms
that neither it nor any other Person acting on its behalf has provided the Investor or its agents or counsel with any information
that constitutes or could reasonably be expected to constitute material, nonpublic information. The Company understands and confirms
that the Investor will rely on the foregoing representations in effecting transactions in securities of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">4.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Capitalization</U>. As of the date hereof, the Company has 47,269,804 shares of Common Stock issued and outstanding.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Representations and Warranties of the Investor</U>. The Investor hereby represents, warrants and covenants that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">5.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Authorization</U>. The Investor has full power and authority to enter into this Agreement, to perform its obligations
hereunder and to consummate the transactions contemplated hereby and has taken all action necessary to authorize the execution
and delivery of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated
hereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">5.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Accredited Investor Status; Investment Experience</U>. The Investor is an &ldquo;accredited investor&rdquo; as that term
is defined in Rule 501(a) of Regulation D. The Investor can bear the economic risk of its investment in the Securities, and has
such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of an investment
in the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">5.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>No Governmental Review</U>. The Investor understands that no United States federal or state agency or any other government
or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability
of the investment in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">5.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Validity; Enforcement; No Conflicts</U>. This Agreement and each Transaction Document to which the Investor is a party
have been duly and validly authorized, executed and delivered on behalf of the Investor and shall constitute the legal, valid and
binding obligations of the Investor enforceable against the Investor in accordance with their respective terms, except as such
enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors&rsquo; rights and
remedies. The execution, delivery and performance by the Investor of this Agreement and each Transaction Document to which the
Investor is a party and the consummation by the Investor of the transactions contemplated hereby and thereby will not (i) result
in a violation of the organizational documents of the Investor or (ii) conflict with, or constitute a default (or an event which
with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration
or cancellation of, any agreement, indenture or instrument to which the Investor is a party, or (iii) result in a violation of
any law, rule, regulation, order, judgment or decree (including federal and state securities or &ldquo;blue sky&rdquo; laws) applicable
to the Investor, except in the case of clause (ii) above, for such conflicts, defaults or rights which would not, individually
or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Investor to perform its obligations
hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">5.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Ownership of Investor Securities</U>. The Investor owns and holds, beneficially and of record, the entire right, title,
and interest in and to the Investor Securities free and clear of all rights and Liens (other than pledges or security interests
(x) arising by operation of applicable securities laws and (y) that the Investor may have created in favor of a prime broker under
and in accordance with its prime brokerage agreement with such broker). The Investor has full power and authority to transfer and
dispose of the Investor Securities to the Company free and clear of any right or Lien. Other than the transactions contemplated
by this Agreement, there is no outstanding vote, plan, pending proposal, or other right of any Person to acquire all or any part
of the Investor Securities or any shares of Common Stock issuable upon conversion of the Investor Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><U>6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Additional Covenants</U>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">6.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Disclosure</U>. The Company shall, on or before 8:30 a.m., New York City time, on the first business day after the date
of this Agreement, issue a press release and Current Report on Form 8-K disclosing all material terms of the transactions contemplated
hereby and attaching the form of this Agreement and the New Certificate of Designations as an exhibit thereto (collectively with
all exhibits attached thereto, the &ldquo;<B>8-K Filing</B>&rdquo;). From and after the issuance of the 8-K Filing except as provided
on Schedule 3.1(j), which shall be publicly disclosed by no later than January __, 2018, the Investor shall not be in possession
of any material, nonpublic information received from the Company or any of its Subsidiaries or any of their respective officers,
directors, employees, affiliates or agents, that is not disclosed in the 8-K Filing. The Company shall not, and shall cause its
officers, directors, employees, affiliates and agents, not to, provide the Investor with any material, nonpublic information regarding
the Company from and after the filing of the 8-K Filing without the express written consent of the Investor. To the extent that
the Company delivers any material, non-public information to the Investor without the Investor&rsquo;s express prior written consent,
the Company hereby covenants and agrees that the Investor shall not have any duty of confidentiality to the Company, any of its
Subsidiaries or any of their respective officers, directors, employees, affiliates or agent with respect to, or a duty to the to
the Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agent or not to trade
on the basis of, such material, non-public information. The Company shall not disclose the name of the Investor in any filing,
announcement, release or otherwise, unless such disclosure is required by law or regulation. In addition, effective upon the filing
of the 8-K Filing, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement,
whether written or oral, between the Company, any of its subsidiaries or any of their respective officers, directors, affiliates,
employees or agents, on the one hand, and the Investor or any of its affiliates, on the other hand, shall terminate and be of no
further force or effect. The Company understands and confirms that the Investor will rely on the foregoing representations in effecting
transactions in securities of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">6.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Listing</U>. The Company shall promptly secure the listing or designation for quotation (as applicable) of all of the
New Conversion Shares upon each Eligible Market upon which the Common Stock is then listed or designated for quotation (as applicable)
(subject to official notice of issuance) and shall maintain such listing of all the New Conversion Shares from time to time issuable
under the terms of the Transaction Documents. The Company shall pay all fees and expenses in connection with satisfying its obligations
under this Section 7.2.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">6.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Holding Period</U>. For the purposes of Rule 144 of the 1933 Act, the Company acknowledges that (i) the holding period
of the Investor Securities may be tacked onto the holding period of the New Preferred Shares (and upon conversion of the New Preferred
Shares, the New Conversion Shares) and (ii) the holding period of the New Preferred Shares may be tacked onto the holding period
of the New Conversion Shares, and the Company agrees not to take a position contrary to this Section 6.3. The parties hereto hereby
acknowledge and agree that the tacking and Rule 144 holding period dates (assuming the Investor is not an affiliate of the Company)
for each of the New Preferred Shares are set forth on <U>Schedule III</U> attached hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">6.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Blue Sky</U>. The Company shall make all filings and reports relating to the Exchange required under applicable securities
or &ldquo;Blue Sky&rdquo; laws of the states of the United States following the date hereof, if any.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">6.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Fees and Expenses</U>. The Company shall reimburse ___________ for its legal fees and expenses in connection with the
preparation and negotiation of this Agreement and transactions contemplated thereby, in an amount not to exceed $15,000 (the &ldquo;<B>Investor
Counsel Expense</B>&rdquo;). The Investor Counsel Expense shall be paid by the Company whether or not the transactions contemplated
by this Agreement are consummated. Except as otherwise set forth above, each party to this Agreement 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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Miscellaneous</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Successors and Assigns</U>. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure
to the benefit of and be binding upon the parties hereto and the respective successors and assigns of the parties. Nothing in this
Agreement, express or implied, is intended to confer upon any party, other than the parties hereto or their respective successors
and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Governing Law; Jurisdiction; Jury Trial</U>. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or
conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state or 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 brought in an inconvenient forum or that the venue of such suit, action or proceeding is
improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit,
action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law. <B>EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH
OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY</B>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Titles and Subtitles</U>. The titles and subtitles used in this Agreement are used for convenience only and are not to
be considered in construing or interpreting this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Notices</U>. Any notices, consents, waivers or other communications required or permitted to be given under the terms
of this Agreement must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii)
upon delivery, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept
on file by the sending party) or by electronic mail; or (iii) one Business Day after deposit with an overnight courier service,
in each case properly addressed to the party to receive the same. The addresses, facsimile numbers and e-mail addresses for such
communications shall be:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">If to the Company:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: left; text-indent: 0in">TimeFireVR Inc.<BR>
7960 E. Camelback Rd. Suite 511<BR>
Scottsdale AZ 85251<BR>
Telephone: (602) 617-8888<BR>
Attention: Jonathan Read, Chief Executive Officer<BR>
E-Mail: jread@quadratum1.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: left; text-indent: 0in">With a copy (for informational purposes only) to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: left; text-indent: 0in">Nason Yeager Gerson
White &amp; Lioce, P.A.,<BR>
3001 PGA Boulevard, Suite 305<BR>
Palm Beach Gardens, FL 33410<BR>
Telephone: (561) 471-3507<BR>
Attention: Michael D. Harris, Esq.<BR>
E-Mail: mharris@nasonyeager.com and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">If to the
Investor, to its address, facsimile number and e-mail address set forth on its signature page hereto,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">or to such other address,
facsimile number and/or e-mail address and/or to the attention of such other Person as the recipient party has specified by written
notice given to each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given
by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender&rsquo;s
facsimile machine or e-mail containing the time, date, recipient facsimile number and an image of the first page of such transmission
or (C) provided by an overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile or receipt
from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Finder&rsquo;s Fees</U>. Each party represents that it neither is nor will be obligated for any finders&rsquo; fee or
commission in connection with this transaction. The Company shall indemnify and hold harmless the Investor from any liability for
any commission or compensation in the nature of a finders&rsquo; fee (and the costs and expenses of defending against such liability
or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Amendments and Waivers</U>. Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent
of the Company and the Investor.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Severability</U>. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such
provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were
so excluded and shall be enforceable in accordance with its terms so long as this Agreement as so modified continues to express,
without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity
or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations
of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will
endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s),
the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><U>Interpretation</U>. Unless the context of this Agreement clearly requires otherwise, (a) references to the plural include
the singular, the singular the plural, the part the whole, (b) references to any gender include all genders, (c) &ldquo;including&rdquo;
has the inclusive meaning frequently identified with the phrase &ldquo;but not limited to&rdquo; and (d) references to &ldquo;hereunder&rdquo;
or &ldquo;herein&rdquo; relate to this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>No Third Party Beneficiaries</U>. This Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Survival</U>. The representations, warranties and covenants of the Company and the Investor contained herein shall survive
the Closing and delivery of the Securities.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Further Assurances</U>. Each party shall do and perform, or cause to be done and performed, all such further acts and
things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may
reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>No Strict Construction</U>. The language used in this Agreement will be deemed to be the language chosen by the parties
to express their mutual intent, and no rules of strict construction will be applied against any party.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Independent Nature of Investor&rsquo;s Obligations and Rights</U>. The obligations of the Investor under this Agreement
are several and not joint with the obligations of any Other Investor, and the Investor shall not be responsible in any way for
the performance of the obligations of any Other Investor under any Other Agreement. Nothing contained herein or in any Other Agreement,
and no action taken by the Investor pursuant hereto, shall be deemed to constitute the Investor and Other Investors as a partnership,
an association, a joint venture or any other kind of entity, or create a presumption that the Investor and Other Investors are
in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement
or any Other Agreement and the Company acknowledges that, to the best of its knowledge, the Investor and the Other Investors are
not acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any
Other Agreement. The Company and the Investor confirm that the Investor has independently participated in the negotiation of the
transactions contemplated hereby with the advice of its own counsel and advisors. The Investor shall be entitled to independently
protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary
for any Other Investor to be joined as an additional party in any proceeding for such purpose.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">7.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">   &nbsp;
</FONT><U>Equal Treatment Acknowledgement; Most Favored Nations</U>. The parties hereto herby acknowledge and agree that, in accordance
with the terms of existing agreements with the Company relating to the Investor Securities, the Company is obligated to present
the terms of this offering to each Other Investor; provided that each Other Agreement shall be negotiated separately with each
Other Investor and shall not in any way be construed as the Investor or any Other Investor acting in concert or as a group with
respect to the purchase, disposition or voting of securities of the Company or otherwise. The Company hereby represents and warrants
as of the date hereof and covenants and agrees that none of the terms offered to any Person with respect to the Exchange, including,
without limitation with respect to any consent, release, amendment, settlement, or waiver relating to the Exchange (each an &ldquo;<B>Exchange
Document</B>&rdquo;), is or will be more favorable to such Person than those of the Investor and this Agreement. If, and whenever
on or after the date hereof, the Company enters into an Exchange Document, then (i) the Company shall provide notice thereof to
the Investor immediately following the occurrence thereof and (ii) the terms and conditions of this Agreement shall be, without
any further action by the Investor or the Company, automatically amended and modified in an economically and legally equivalent
manner such that the Investor shall receive the benefit of the more favorable terms and/or conditions (as the case may be) set
forth in such Exchange Document, provided that upon written notice to the Company at any time the Investor may elect not to accept
the benefit of any such amended or modified term or condition, in which event the term or condition contained in this Agreement
shall apply to the Investor as it was in effect immediately prior to such amendment or modification as if such amendment or modification
never occurred with respect to the Investor. The provisions of this Section 8.16 shall apply similarly and equally to each Exchange
Document.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in">[SIGNATURES ON THE
FOLLOWING PAGE]</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties have caused this Agreement to be duly executed and delivered as of the date provided above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B><U>THE COMPANY</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><FONT STYLE="text-transform: uppercase"><B>TIMEFIRE VR INC.</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By: __________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in">Name:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in">Title:</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties have caused this Agreement to be duly executed and delivered as of the date provided above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"><B><U>INVESTOR:</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">________________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">By: _____________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in">Name:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in">Title:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">Address for Notices:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">____________________________________<BR>
<BR>
____________________________________<BR>
<BR>
</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">____________________________________<BR>
<BR>
</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">Fax#: ________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">SSN#: ________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in"></P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>6
<FILENAME>tfvr0103form8kexh10_2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><FONT STYLE="text-transform: uppercase"><U>Membership
Interest Purchase Agreement</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 0.5in">This Membership Interest
Purchase Agreement (this &ldquo;Agreement&rdquo;), dated as of January 3, 2018 (the &ldquo;Effective Date&rdquo;), is entered into
between TimefireVR Inc., a Nevada corporation (&ldquo;Seller&rdquo;) and Mitchell Saltz, an individual, and/or his assigns (&ldquo;Buyer&rdquo;).</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, Seller
owns all of the membership interests (the &ldquo;Membership Interests&rdquo;) of Timefire LLC, an Arizona limited liability company
(the &ldquo;Company&rdquo;); and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, Seller
wishes to sell to Buyer, and Buyer wishes to purchase from Seller, the Membership Interests, subject to the terms and conditions
set forth herein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE,
in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0.25in; margin-bottom: 12pt; text-align: center">ARTICLE
I<BR>
<FONT STYLE="text-transform: uppercase">Purchase and Sale</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
1.01<FONT STYLE="font-size: 7pt">  </FONT>Purchase and Sale.</B></FONT> Subject to the terms and conditions
set forth herein, at the Closing (as defined herein), Seller shall sell to Buyer, and Buyer shall purchase from Seller, all of
Seller's right, title and interest in and to the Membership Interests, free and clear of any mortgage, pledge, lien, charge, security
interest, claim or other encumbrance (&ldquo;Encumbrance&rdquo;), for the consideration specified in Section 1.02.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Section 1.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline">Consideration.</FONT></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>At Closing, Buyer shall deliver to Seller:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>$100,000 in cash (the &ldquo;Purchase Price&rdquo;), by wire transfer of immediately available funds in accordance with
the wire transfer instructions set forth in <U>Schedule 1.02</U>; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline">A
secured promissory note substantially in the form attached hereto as </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline"><U>Exhibit
A</U> (the &ldquo;Note&rdquo;) in the principal amount of $120,000, plus interest at a rate of six percent per annum with a maturity
date of </FONT>nine (9) months.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal; vertical-align: baseline">(b)<FONT STYLE="font-size: 7pt">
</FONT>At Closing, Buyer shall also assume the following liabilities of Seller:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal; vertical-align: baseline">(i)<FONT STYLE="font-size: 7pt">
</FONT>That certain Sublease Agreement by and between EnergyTek Corp., a Nevada corporation and Cadtel Systems Inc. a Delaware
corporation (&ldquo;Landlord&rdquo;) dated September 23, 2016 (the &ldquo;Lease&rdquo;);</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal; vertical-align: baseline">(ii)<FONT STYLE="font-size: 7pt">
</FONT>All loans made by Mitchell Saltz, whether directly or indirectly, to Seller or the Company in an amount equal to $116,883,
together with any and all interest thereon;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline">(iii)<FONT STYLE="font-size: 7pt">
</FONT>That certain Senior Convertible Note of Seller, dated March </FONT>3, 2017 and <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline">payable
to Lou Werner, together with any and all interest thereon and provide evidence that the convertibility has been eliminated;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal; vertical-align: baseline">(iv)<FONT STYLE="font-size: 7pt">
</FONT>That certain Scope of Services and Fee Proposal between Seller and Formworks Studios, L.L.C., dated June 15, 2017;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline">All
compensation due and owing to Jeffrey Rassas from Seller as of </FONT> the Effective Date;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline">All
compensation due and owing to John Wise from Seller as of the Effective Date</FONT>;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal; vertical-align: baseline">(vii)<FONT STYLE="font-size: 7pt">
</FONT>Any and all salary or other employee related debt of Seller or the Company as of November 15, 2017; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal; vertical-align: baseline">(viii)<FONT STYLE="font-size: 7pt">
</FONT>Chase Bank Credit Cards and Balances in an amount equal to $12,485.41.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
1.03<FONT STYLE="font-size: 7pt">  </FONT>Closing</B></FONT> The closing of the transactions contemplated
by this Agreement (the &ldquo;Closing&rdquo;) shall take place simultaneously with the execution of this Agreement on the Effective
Date (the &ldquo;Closing Date&rdquo;). The Closing shall take place electronically or at such location as the parties hereto shall
mutually agree in writing. The Closing shall occur only if each condition set forth in Article IV herein has either been satisfied
or waived, in writing, by the party for whose benefit such condition exists.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
1.04<FONT STYLE="font-size: 7pt">  </FONT>Transfer Taxes.</B></FONT> Buyer shall pay, and shall reimburse
Seller for, any sales, use or transfer taxes, documentary charges, recording fees or similar taxes, charges, fees or expenses,
if any, that become due and payable as a result of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
1.05<FONT STYLE="font-size: 7pt">  </FONT>Withholding Taxes.</B></FONT> Buyer and the Company shall
be entitled to deduct and withhold from the Purchase Price all taxes that Buyer and the Company may be required to deduct and withhold
under any provision of tax law. All such withheld amounts shall be treated as delivered to Seller hereunder.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0.25in; margin-bottom: 12pt; text-align: center">ARTICLE
II<BR>
<FONT STYLE="text-transform: uppercase">REPRESENTATIONS AND WARRANTIES OF SELLER</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Seller represents
and warrants to Buyer that the statements contained in this Article II are true and correct as of the date hereof. For purposes
of this ARTICLE II, &ldquo;Seller's Knowledge,&rdquo; &ldquo;Knowledge of Seller&rdquo; and any similar phrases shall mean the
actual or constructive knowledge of any director or officer of Seller, after due inquiry.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
2.01<FONT STYLE="font-size: 7pt">  </FONT>Organization and Authority of Seller; Enforceability.</B></FONT>
Seller is a corporation duly organized, validly existing and in good standing under the laws of the state of Nevada. Seller has
full corporate power and authority to enter into this Agreement and the documents to be delivered hereunder, to carry out its obligations
hereunder and to consummate the transactions contemplated hereby. This Agreement and the documents to be delivered hereunder have
been duly executed and delivered by Seller, and (assuming due authorization, execution and delivery by Buyer) this Agreement and
the documents to be delivered hereunder constitute legal, valid and binding obligations of Seller, enforceable against Seller in
accordance with their respective terms.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
2.02<FONT STYLE="font-size: 7pt">  </FONT>No Conflicts; Consents.</B></FONT> The execution, delivery
and performance by Seller of this Agreement and the documents to be delivered hereunder, and the consummation of the transactions
contemplated hereby, do not and will not: (a) violate or conflict with the certificate of incorporation, certificate of formation
or other organizational documents of Seller; or (b) violate or conflict with any judgment, order, decree, statute, law, ordinance,
rule or regulation applicable to Seller, except where such violation or conflict would not, individually or in the aggregate, have
a material adverse effect on Seller&rsquo;s ability to consummate the transactions contemplated hereby on a timely basis.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
2.03<FONT STYLE="font-size: 7pt">  </FONT>Legal Proceedings.</B></FONT> There is no claim, action,
suit, proceeding or governmental investigation (&ldquo;Actions&rdquo;) of any nature pending or, to Seller's Knowledge, threatened
against or by Seller (a) relating to or affecting the Membership Interests; or (b) that challenges or seeks to prevent, enjoin
or otherwise delay the transactions contemplated by this Agreement, except such Actions which would not, in the aggregate, have
a material adverse effect on Seller&rsquo;s ability to consummate the transactions contemplated hereby on a timely basis. <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline">To
Seller&rsquo;s Knowledge, </FONT>no event has occurred or circumstances exist that may give rise to, or serve as a basis for, any
Actions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
2.04<FONT STYLE="font-size: 7pt">  </FONT>Ownership of Membership Interests.</B></FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Seller is the sole legal, beneficial, record and equitable owner of the Membership Interests, free and clear of all Encumbrances
whatsoever other than those contained in the Amended and Restated Operating Agreement dated September 13, 2016 (the &ldquo;LLC
Agreement&rdquo;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>To Seller's Knowledge: (i) the Membership Interests were issued in compliance with applicable laws; the Membership Interests
were not issued in violation of the organizational documents of the Company or any other agreement, arrangement or commitment to
which Seller or the Company is a party and are not subject to or in violation of any preemptive or similar rights of any person
or entity.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Other than the LLC Agreement of the Company, there are no voting trusts, proxies or other agreements or understandings in
effect with respect to the voting or transfer of any of the Membership Interests.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
2.05<FONT STYLE="font-size: 7pt">  </FONT>Brokers.</B></FONT> No broker, finder or investment banker
is entitled to any brokerage, finder's or other fee or commission in connection with the transactions contemplated by this Agreement
based upon arrangements made by or on behalf of Seller.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
2.06<FONT STYLE="font-size: 7pt">  </FONT>No Other Representations or Warranties.</B></FONT> Except
for the representations and warranties contained in this ARTICLE II, neither Seller nor any director, officer, employee or agent
of Seller has made or makes any other express or implied representation or warranty, either written or oral, on behalf of Seller.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0.25in; margin-bottom: 12pt; text-align: center">ARTICLE
III<BR>
<FONT STYLE="text-transform: uppercase">REPRESENTATIONS AND WARRANTIES OF BUYER</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Buyer represents
and warrants to Seller that the statements contained in this ARTICLE III are true and correct as of the date hereof. For purposes
of this ARTICLE III, &ldquo;Buyer's Knowledge,&rdquo; &ldquo;Knowledge of Buyer&rdquo; and any similar phrases shall mean the actual
or constructive knowledge of Jeffrey Rassas or John Wise, after due enquiry.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
3.01<FONT STYLE="font-size: 7pt">  </FONT>Organization and Authority of Buyer; Enforceability.</B></FONT>
Buyer is duly organized, validly existing and in good standing under the laws of the state of its incorporation, organization or
formation. Buyer has full individual, corporate, limited liability company or partnership power and authority to enter into this
Agreement and the documents to be delivered hereunder, to carry out its obligations hereunder and to consummate the transactions
contemplated hereby. The execution, delivery and performance by Buyer of this Agreement and the documents to be delivered hereunder
and the consummation of the transactions contemplated hereby have been duly authorized by all requisite action on the part of Buyer.
This Agreement and the documents to be delivered hereunder have been duly executed and delivered by Buyer, and (assuming due authorization,
execution and delivery by Seller) this Agreement and the documents to be delivered hereunder constitute legal, valid and binding
obligations of Buyer enforceable against Buyer in accordance with their respective terms.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
3.02<FONT STYLE="font-size: 7pt">  </FONT>No Conflicts; Consents.</B></FONT> The execution, delivery
and performance by Buyer of this Agreement and the documents to be delivered hereunder, and the consummation of the transactions
contemplated hereby, do not and will not: (a) violate or conflict with the certificate of incorporation, certificate of formation
or other organizational documents of Buyer; or (b) violate or conflict with any judgment, order, decree, statute, law, ordinance,
rule or regulation applicable to Buyer, except where such violation or conflict would not, individually or in the aggregate, have
a material adverse effect on Buyer&rsquo;s ability to consummate the transactions contemplated hereby on a timely basis.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
3.03<FONT STYLE="font-size: 7pt">  </FONT>Investment Purpose.</B></FONT> Buyer is acquiring the Membership
Interests solely for its own account for investment purposes and not with a view to, or for offer or sale in connection with, any
distribution thereof. Buyer acknowledges that the Membership Interests are not registered under the Securities Act of 1933, as
amended, or any state securities laws, and that the Membership Interests may not be transferred or sold except pursuant to the
registration provisions of the Securities Act of 1933, as amended or pursuant to an applicable exemption therefrom and subject
to state securities laws and regulations, as applicable. Buyer is able to bear the economic risk of holding the Membership Interests
for an indefinite period (including total loss of its investment), and has sufficient knowledge and experience in financial and
business matters so as to be capable of evaluating the merits and risk of its investment.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
3.04<FONT STYLE="font-size: 7pt">  </FONT>Brokers.</B></FONT> No broker, finder or investment banker
is entitled to any brokerage, finder's or other fee or commission in connection with the transactions contemplated by this Agreement
based upon arrangements made by or on behalf of Buyer.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Section 3.05<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline">Legal Proceedings.</FONT></B>
There is no Action pending or, to Buyer's Knowledge, threatened against or by Buyer or any Affiliate of Buyer that challenges or
seeks to prevent, enjoin or otherwise delay the transactions contemplated by this Agreement. No event has occurred or circumstances
exist that may give rise or serve as a basis for any such Action.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
3.06<FONT STYLE="font-size: 7pt">  </FONT>No Other Representations or Warranties.</B></FONT> Except
for the representations and warranties contained in this ARTICLE II, neither Buyer nor any director, officer, employee or agent
of Buyer has made or makes any other express or implied representation or warranty, either written or oral, on behalf of Buyer.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0.25in; margin-bottom: 12pt; text-align: center">ARTICLE
IV<BR>
<FONT STYLE="text-transform: uppercase">Closing Deliveries</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
4.01<FONT STYLE="font-size: 7pt">  </FONT>Seller's Deliveries.</B></FONT> At the Closing, Seller shall
deliver the following to Buyer:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>This Agreement, duly executed by Seller;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Lock-up agreements, substantially in the form attached hereto as <U>Exhibit B</U>, (the &ldquo;Lock-Up Agreements&rdquo;)
by and between the Company and Jeffrey Rassas, John Wise, Caroline Wise and Hayjour Family LP, duly executed by the Company;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>An assignment and assumption agreement, substantially in the form attached hereto as <U>Exhibit C</U> (the &ldquo;Assignment
and Assumption Agreement&rdquo;), pursuant to which Buyer assumes those liabilities of Seller listed in Section 1.02(b) hereof,
duly executed by Seller;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>An amendment to the LLC Agreement removing Seller as Manager of the Company and appointing a designee of Buyer, duly executed
by Seller;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>A general release from Seller and the parties listed on <U>Schedule 4.01(d)</U> to the parties listed on <U>Schedule 4.02(h)</U>;
and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>Such agreements as are necessary to insure that Seller is released from the liabilities specified in Section 1.02(b)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
4.02<FONT STYLE="font-size: 7pt">  </FONT>Buyer's Deliveries.</B></FONT> At the Closing, Buyer shall
deliver the following to Seller:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>This Agreement, duly executed by Buyer;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>The Purchase Price;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>The Note, duly executed by Buyer;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>A security agreement, substantially in the form attached hereto as <U>Exhibit D,</U> covering all of the tangible and intangible
property of the Company, including, but not limited to, the intellectual property of the Company, duly executed by Buyer;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>The Assignment and Assumption Agreement, duly executed by Buyer</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>The Lock-Up Agreements, duly executed by Jeffrey Rassas, John Wise, Caroline Wise and Hayjour Family LP;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>An irrevocable proxy, substantially in the form attached hereto as <U>Exhibit E</U>, duly executed by Jeffrey Rassas and
John Wise;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>A general release from Buyer and the parties listed on <U>Schedule 4.02(h)</U> to the parties listed on <U>Schedule 4.01(d)</U>;
and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>A general release of all obligations and guaranties of Seller under the Lease, duly executed by Landlord.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0.25in; margin-bottom: 12pt; text-align: center">ARTICLE
V<BR>
COVENANTS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Section 5.01<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline">No Amendment; No
Extraordinary Transactions.</FONT></B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: 0">
<FONT STYLE="font-weight: normal">From the Closing Date until the Note is paid in full by Buyer in accordance with the terms thereof,
neither Buyer nor its affiliates shall, directly or indirectly, in one or more related transactions: (i) amend the LLC Agreement;
or (ii) cause the Company to undertake any transaction or series of transactions not within the ordinary course of the Company&rsquo;s
business, including, but not limited to, any </FONT></FONT>acquisition, purchase, assignment, conveyance, tender, tender offer,
exchange, increase or reduction in outstanding Membership Interests, merger, consolidation, business combination, reorganization,
recapitalization, spin-off, scheme of arrangement, reclassification or other instrument or transaction structured in a manner to
circumvent, or that circumvents, the intent of this section <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline">without
the express written consent of Seller, which may be granted or withheld by Seller in Seller&rsquo;s sole and absolute discretion.
</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">ARTICLE VI&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="text-transform: uppercase">Indemnification</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
6.01<FONT STYLE="font-size: 7pt">  </FONT>Survival of Representations and Covenants.</B></FONT> All
representations, warranties, covenants and agreements contained herein and all related rights to indemnification shall survive
the Closing for a period of one year.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
6.02<FONT STYLE="font-size: 7pt">  </FONT>Indemnification By Seller.</B></FONT> Subject to the other
terms and conditions of this Article VI, Seller shall defend, indemnify and hold harmless Buyer, its affiliates and their respective
stockholders, directors, officers, members, managers and employees from and against all claims, judgments, damages, liabilities,
settlements, losses, costs and expenses, including attorneys' fees and disbursements (each, a &ldquo;Loss&rdquo; and collectively
&ldquo;Losses&rdquo;), arising from or relating to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>any inaccuracy in or breach of any of the representations or warranties of Seller contained in this Agreement or any document
to be delivered hereunder; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>any breach or non-fulfillment of any covenant, agreement or obligation to be performed by Seller pursuant to this Agreement
or any document to be delivered hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
6.03<FONT STYLE="font-size: 7pt">  </FONT>Indemnification By Buyer.</B></FONT> Subject to the other
terms and conditions of this Article VI, Buyer shall defend, indemnify and hold harmless Seller, its affiliates and their respective
stockholders, directors, officers, members, managers and employees from and against all Losses arising from or relating to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>any inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement or any document
to be delivered hereunder;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>any breach or non-fulfillment of any covenant, agreement or obligation to be performed by Buyer pursuant to this Agreement
or any document to be delivered hereunder; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT>the operation of the business of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
6.04<FONT STYLE="font-size: 7pt">  </FONT>Indemnification Procedures.</B></FONT> Whenever any claim
shall arise for indemnification hereunder, the party entitled to indemnification (the &ldquo;Indemnified Party&rdquo;) shall promptly
provide written notice of such claim to the other party (the &ldquo;Indemnifying Party&rdquo;). In connection with any claim giving
rise to indemnity hereunder resulting from or arising out of any Action by a person or entity who is not a party to this Agreement,
the Indemnifying Party, at its sole cost and expense and upon written notice to the Indemnified Party, may assume the defense of
any such Action with counsel reasonably satisfactory to the Indemnified Party. The Indemnified Party shall be entitled to participate
in the defense of any such Action, with its counsel and at its own cost and expense. If the Indemnifying Party does not assume
the defense of any such Action, the Indemnified Party may, but shall not be obligated to, defend against such Action in such manner
as it may deem appropriate, including, but not limited to, settling such Action, after giving notice of it to the Indemnifying
Party, on such terms as the Indemnified Party may deem appropriate and no action taken by the Indemnified Party in accordance with
such defense and settlement shall relieve the Indemnifying Party of its indemnification obligations herein provided with respect
to any damages resulting therefrom. The Indemnifying Party shall not settle any Action without the Indemnified Party's prior written
consent (which consent shall not be unreasonably withheld or delayed).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
6.05<FONT STYLE="font-size: 7pt">  </FONT>Payments.</B></FONT> Once a Loss is agreed to by the Indemnifying
Party or finally adjudicated to be payable pursuant to this Article VI, the Indemnifying Party shall satisfy its obligations within
21 days of such final, non-appealable adjudication by wire transfer of immediately available funds. The parties hereto agree that
should an Indemnifying Party not make full payment of any such obligations within such 21 day period, any amount payable shall
accrue interest from and including the date of agreement of the Indemnifying Party or final, non-appealable adjudication to but
excluding the date such payment has been made at a rate per annum equal to twelve percent (12%). Such interest shall be calculated
daily on the basis of a 365 day year and the actual number of days elapsed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
6.06<FONT STYLE="font-size: 7pt">  </FONT>Cumulative Remedies.</B></FONT> The rights and remedies
provided in this <U>Article VI</U> are cumulative and are in addition to and not in substitution for any other rights and remedies
available at law or in equity or otherwise.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0.25in; margin-bottom: 12pt; text-align: center">ARTICLE
VII<BR>
<FONT STYLE="text-transform: uppercase">Miscellaneous</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.01<FONT STYLE="font-size: 7pt">  </FONT>Expenses.</B></FONT> Except as otherwise provided in Section
1.04, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid
by the party incurring such costs and expenses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Section 7.02<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline">Further Assurances.</FONT></B>
Following the Closing, each of the parties hereto shall, and shall cause their respective affiliates to, execute and deliver such
additional documents, instruments, conveyances and assurances and take such further actions as may be reasonably required to carry
out the provisions hereof and give effect to the transactions contemplated by this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt"><B>Section
7.03<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">  </FONT></B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline">Notices.</FONT></B>
<FONT STYLE="color: windowtext; letter-spacing: -0.15pt">All notices, offers, acceptance and any other acts under this Agreement
shall be in writing, and shall be sufficiently given if delivered to the addressees in person, by FedEx or similar receipted next
business day delivery, or by email followed by overnight next business day delivery as follows:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 85%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">To Seller:</FONT></TD>
    <TD STYLE="width: 66%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">TimefireVR
        Inc.</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">7960
        East Camelback Road, Suite 511</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">Scottsdale,
        Arizona 85251</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">Attention:
        Jonathan Read</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">Email:
        jread@QUADRATUM1.COM</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">With
        a copy to:</FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/normal Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">Nason, Yeager, Gerson, White &amp; Lioce, P.A.</P>
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">3001 PGA Boulevard, Suite 305</P>
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">Palm Beach Gardens, Florida 33410</P>
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">Attention: Michael D. Harris, Esq.</P>
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">Email: mharris@nasonyeager.com</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">To
        Buyer:</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.15pt">With
        a copy to:</FONT></P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">or to such other address as any of them,
by notice to the other may designate from time to time. Time shall be counted to, or from, as the case may be, the date of delivery.</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal; vertical-align: baseline">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.04<FONT STYLE="font-size: 7pt">  </FONT>Headings.</B></FONT> The Article and Section headings contained
in this Agreement are solely for the purpose of reference and shall not in any way affect the meaning or interpretation of this
Agreement. The word &ldquo;including&rdquo; shall be deemed to mean &ldquo;including without limitation.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.05<FONT STYLE="font-size: 7pt">  </FONT>Severability.</B></FONT> If any term or provision of this
Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect
any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.
Upon such determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate
in good faith to modify the Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable
manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.06<FONT STYLE="font-size: 7pt">  </FONT>Entire Agreement.</B></FONT> This Agreement and the Disclosure
Schedules embody the entire agreement and understanding of the parties hereto in respect of the subject matter contained herein.
There are no representations, promises, warranties, covenants, or undertakings, other than those expressly set forth or referred
to herein and therein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.07<FONT STYLE="font-size: 7pt">  </FONT>Successors and Assigns.</B></FONT> This Agreement shall
be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. Neither
party may assign its rights or obligations hereunder without the prior written consent of the other party, which consent shall
not be unreasonably withheld or delayed. No assignment shall relieve the assigning party of any of its obligations hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.08<FONT STYLE="font-size: 7pt">  </FONT>No Third-Party Beneficiaries.</B></FONT> Except as provided
in Article V, this Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns
and nothing herein, express or implied, is intended to or shall confer upon any other person or entity any legal or equitable right,
benefit or remedy of any nature whatsoever under or by reason of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.09<FONT STYLE="font-size: 7pt">  </FONT>Amendment and Modification.</B></FONT> This Agreement may
only be amended, modified or supplemented by an agreement in writing signed by each party hereto.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.10<FONT STYLE="font-size: 7pt">  </FONT>Waiver.</B></FONT> No waiver by any party of any of the
provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any
party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written
waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise,
or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or privilege.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Section 7.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline">Governing Law.</FONT></B>
This Agreement and all Actions arising out of or in connection with this Agreement, including any Actions, shall be governed by
and construed in accordance with the laws of the State of Nevada without regard to the conflicts of law provisions of the State
of Nevada or of any other jurisdiction.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.12<FONT STYLE="font-size: 7pt">  </FONT>Submission to Jurisdiction.</B></FONT> Any Action brought
by either party against the other concerning the transactions contemplated by this Agreement shall be brought only in the state
or federal courts of Nevada and venue shall be in the County of Clark or the United States District Court for the District of Nevada.
The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder
and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.13<FONT STYLE="font-size: 7pt">  </FONT>Waiver of Jury Trial.</B></FONT><B> Each party acknowledges
and agrees that any controversy which may arise under this Agreement is likely to involve complicated and difficult issues and,
therefore, each such party irrevocably and unconditionally waives any right it may have to a trial by jury in respect of any legal
action arising out of or relating to this Agreement or the transactions contemplated hereby.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline"><B>Section
7.14<FONT STYLE="font-size: 7pt">  </FONT></B></FONT><B>Rules of Construction</B>. Each party to this
Agreement has been represented by counsel during the preparation and execution of this Agreement, and therefore waives any rule
of construction that would construe ambiguities against the party drafting this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Section 7.15<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline">Counterparts.</FONT></B>
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed
to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission
shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>Section 7.16<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black; vertical-align: baseline">Rule 144 Opinions</FONT></B>.
Following the Effective Date, and subject to full compliance with the Lock-Up Agreements, Seller shall at its expense cause its
attorneys to issue legal opinions directed to Seller&rsquo;s stock transfer agent that the shares of common stock of Seller held
by the parties specified on <U>Schedule 1</U> may be sold under Rule 144 of the Securities Act of 1933 (assuming that the exemption
under Rule 144 is available).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal; vertical-align: baseline">&nbsp;</FONT></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt; text-transform: uppercase; text-align: center">[signature
page follows]</P>


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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><B>IN WITNESS
WHEREOF</B>, the parties hereto have caused this Agreement to be executed as of the date first written above by their respective
officers thereunto duly authorized.</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt; font: 11pt/115% Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>SELLER:</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>&nbsp;</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>TimefireVR Inc., a Nevada Corporation</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">By_____________________</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Name:</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Title:</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>BUYER:</B></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>Mitchell Saltz</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt/115% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 10pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">_____________________</P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>
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